Loading...
HomeMy WebLinkAbout2001 S ERCD - NC Division of Water Wuality Wetland Restoration Section . Stillhouse Creek Wetlands Restoration Project Option Agreement r,o STATE OF NORTH CAROLINA {{s COUNTY OF ORANGE CONSERVATION EASEMENT OPTION AGREEMENT THIS OPTION AGREEMENT, hereinafter referred to as Option, made and entered into this L" day of , 2001, by and between the County of Orange, a political subdivision of the State of North Carolina, hereinafter referred to as the Grantor, and the State of North Carolina, a body politic and corporate, and its successors and assigns, hereinafter referred to as the State. WITNESSETH In consideration of good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and of the agreements contained in this Option, Grantor hereby grants to the State, and its successors and assigns, the exclusive right and option to receive a conservation easement, on that certain tract or parcel of land, located in Orange County, North Carolina, containing approximately 1.83 acres, more or less, and which is more particularly described as follows: An area along both sides of Stillhouse Creek, between Margaret Lane and the Eno River. The property is further described in a deed from to Orange County, recorded in Deed Book 205, pages 240 and 242, and Deed Book 209, page 313, Orange County Registry. The following terms, provisions, and conditions are further agreed to: 1. OPTION PERIOD. This option shall remain in effect from the date that this Option has been executed by the Grantor until the 30th day of June, 2002. This Option shall be exercised upon posting, by certified mail, a written notice to the Grantor at the following address PO Box 8181, Hillsborough, NC 27278. Exercise shall be deemed timely if such written notice is mailed on or before the date first set forth in this paragraph. 2. PURCHASE PRICE. This conservation easement is being donated by the Grantor. 3. EXECUTION. Execution of the conservation easement under this Option shall be held within 180 days of the exercise of this Option. 4. SUBJECT TO SURVEY AND DESIGN. It is understood and intended that the final conservation easement area covered under this option is subject to final design and survey with the costs of said design and survey paid by the State. 5. DOCUMENTS FOR CLOSING. The Grantor shall execute and deliver at closing a conservation easement, any owner's affidavits or documents required by a title r insurance company to remove the standard title policy exceptions, and any other documents necessary to close in accordance with the terms of this Option. These documents will be prepared at the expense of the State. 6. MISCELLANEOUS CLOSING EXPENSES. The State will pay charges due upon execution of conservation easement to the State. The State will pay recording fees. 7. CONDITION OF PROPERTY/ RISK OF LOSS. The Grantor shall not transfer or encumber any interests in the Property prior to closing. The Grantor shall remove all rubbish or trash including any hazardous or harmful chemical substances, from the conservation easement area prior to closing but shall otherwise keep the Property in its current condition until closing and shall prevent and refrain from any use of the Property, for any purpose or in any manner, that would diminish its value or adversely affect the State's intended use of the Property. In the event of any adverse change in the condition of the Property, whether said change is caused by Grantor or by forces beyond Grantor's control, the State may elect to a)refuse to accept the property; b) accept the Property, or a portion thereof, in which case there may be an equitable adjustment of the purchase price based on a change in circumstances; or c) in the case of a change caused by Grantor, require restoration of the Property to its condition at the time this Option was granted. 8. RIGHT OF ENTRY AND INSPECTION. The State and its agents shall have the right to enter upon the Property at reasonable times for surveying, conducting environmental inspections and assessments to detect hazardous or toxic substances, and other reasonable purposes related to this transaction. Based upon the results of the environmental inspections and assessments, or upon other conditions revealed to be unsuitable to the State, the State may elect to refuse to accept the Property. 9. REMEDIES. In addition to any other remedy specifically set forth in this Option, the State has the right to enforce the provisions of this Option through an action for specific performance, injunctive relief, damages, contribution or any other available proceedings in law or equity. The election of any one remedy available under this Option shall not constitute a waiver of any other available remedies. 10. BINDING EFFECT. This Option becomes effective when signed by the Grantor and shall then apply to and bind the Grantor and Grantor's heirs, executors, administrators, successors, and assigns. 11. COMPLETE AGREEMENT. This Option constitutes the sole and complete agreement between the parties and cannot be changed except by written agreement. No representation or promise not included in this Option shall be binding upon the parties. 12. NO WAIVER. No provision of the Option shall be deemed amended or waived unless such amendment or waiver is set forth in a writing signed by the State. No act or failure to act by the State shall be deemed a waiver of its rights hereunder, and no waiver in any one circumstance or of any one provision shall be deemed a waiver in other circumstances or of other provisions. 13. ASSIGNMENT. With the written permission of the Grantor, the State has the right to assign this Option. In the event of such assignment, the assignee will have all the rights,powers,privileges and duties held by the State pursuant to this Option. IN TESTIMONY THEREOF, the parties have hereunto set their hands and seals, or if corporate have caused this instrument to be executed in their corporate names by their duly authorized representatives as of the dates indicated below. Grantor By: Social Security#: -or- Federal Tax ID #: STATE OF �,.��, •o/„�w COUNTY OF I, a Notary Public in and for the County and State aforesaid, do here y certify that # personally appeared before me this d y and acknowledged the due execution of the foregoing instrument for the purposes therein expressed. WITNESS my hand and Notary Seal this ash day of , 20 ol. Notary Pu is My Commission Expires: