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<br />The Property contains four distinct azeas, the "Western Field," the "Western Water Quality
<br />Envelope," the "Interior Core," and the "Eastern Forest Envelope," each of which is more particulazly
<br />shown on the Plat. These four azeas are collectively referred to herein as the "Areas." Grantor and
<br />Grantee have agreed that each of these azeas will be subject to certain specific restrictions under this
<br />Conservation Easement based on the unique features of each and their projected use.
<br />The Property has significant open space, forestry, and wildlife values. The Property contains a
<br />natural area that provides a "relatively natural habitat for fish, wildlife or plants or similaz ecosystem" as
<br />that phrase is used in Section 170(hx4xA)(ii) of the Internal Revenue Code. The Property contains
<br />complex natural communities including: (a) dry-oak hickory forest dominated by white oak, southern red
<br />oak, post oak, willow oak, red maple, sweetgum, flowering dogwood, sourwood, cedaz and loblolly pine;
<br />(b) perennially and intermittently-flowing streams that drain to the state significant Little River Aquatic
<br />Habitat as determined by the North Carolina Natural Heritage Program, and surrounded by Piedmont
<br />alluvial forest dominated by sycamore, sweetgum, black walnut, tulip poplar, American elm, hackberry,
<br />green ash, willow oak, red maple, and American holly; and (c) habitat for a variety of wildlife species,
<br />including blue heron, wild turkey, rabbits, deer, and amphibians and reptiles.
<br />The biological, natural, and other conservation characteristics of the Properly aze described and
<br />depicted in a report entitled Baseline Documentation for Northeast Park (the "Baseline Documentation
<br />Report"), on file with Grantee, and acknowledged by both Grantor and Grantee to be complete and
<br />accurate as of the date hereof. Both Grantor and Grantee have copies of the Baseline Documentation
<br />Report.. The Baseline Documentation Report will be used by Grantor and Grantee, as well as their
<br />respective successors and assigns, to assure that any future changes in the use of the Property will be
<br />consistent with the terms of this Conservation Easement. However, the Baseline Documentation Report
<br />is not intended to preclude the use of other evidence to establish the present condition of the Property if
<br />there is a controversy over its use. The above reference to the Baseline Documentation Report shall not
<br />limit the terms contained in this Conservation Easement and it is expressly understood that this
<br />Conservation Easement, and the rights, obligations and privileges contained herein, shall run with the
<br />Property.
<br />Grantor owns the entire fee simple interest in the Property, including the entire mineral estate,
<br />and there are no easements, rights of way or other encumbrances except for: [title exceptions to be
<br />inserted after receipt of title commitmentJ.
<br />The primary purpose of this Conservation Easement is to protect in perpetuity the natural forest
<br />habitat for wildlife, water and air quality and the open space in the Western Water Quality Envelope and
<br />the Eastern Forest Envelope (sometimes collectively referred to as, the "Envelopes"). All of these are
<br />collectively the "Conservation Values." In keeping with the Conservation Values, neither Grantor,
<br />Grantee, nor their respective heirs, successors, or assigns, shall conduct or allow to be conducted any
<br />activity on the Property that is inconsistent in any way with the covenants or restrictions contained within
<br />this Conservation Easement.
<br />The conservation purposes of this Conservation Easement, notwithstanding anything to the
<br />contrary contained herein, are recognized by, and this Conservation Easement will serve, the following
<br />clearly delineated governmental conservation policies:
<br />KCBCM: 252126.5
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