20070747 Ver 1_GVFS_20141015

Memorandum of Agreement
Craven County State of North Carolina
THIS Maintenance Agreement ( "Agreement "), dated this 2,e �ay of
2014 by and between Green Trust Alliance, Inc., ( "GTA ") and GreenVest /Flat Swamp
LLC, hereinafter referred to as ( "GVFS ") and,
WHEREAS, GVFS owns fee simple title to 386 acres in Craven County known as the
Flat Swamp Neuse River Riparian Buffer and Nutrient Mitigation Bank (Bank")
which bank acreage is subject to a permanent Conservation Easement recorded
January 21, 2010 in Book 2886, Page 24 -38 in the land records of Craven County,
North Carolina more particularly described in Exhibit A attached hereto and
incorporated herein (the "Property") and,
WHEREAS, GTA has been designated as the Grantee and holder of the Conservation
Easement encumbering the Property, such Conservation Easement as mandated by
the North Carolina Department of Environment to complete establishment of the
Bank and,
WHEREAS, said easement provides for the perpetual maintenance and protection of
the environmental quality found on and within the Property and,
WHEREAS, GTA is designated as the Grantee under the terms of the Easement and
as such is assuming certain obligations as more fully set forth therein.
NOW, THEREFORE, in consideration of the representations and covenants
contained in Exhibits A, and to protect and maintain the acreage identified within
the Bank domain described in Exhibit A, and for other good and valuable
considerations, the receipt and legal sufficiency of which is hereby acknowledged,
GTA and GVFS agree as follows:
1. That GTA will:
a) fully and completely carry out all tasks and responsibilities
provided for and assigned to GTA in the Conservation Easement executed and
attached hereto as Exhibit A in order to preserve and enforce the level of
environmental quality that currently exists;
b) maintain its status under North Carolina General Statute Sec. 121 -35 and
Section 170 (h) of the Internal Revenue Code;
c) comply with all requirements imposed by the North Carolina Department of
Environment and Natural Resources, Division of Water Resources program group
regarding maintenance of the Property as provided for within the Easement.
2. That all provisions of the Easement incorporated herein as Exhibit Aare binding
on GTA and GVFS.

3. Any communication required under this Maintenance Agreement shall be sent by
registered or certified mail, postage prepaid to the following addresses, or such
other address as may be hereafter specified from time to time by notice pursuant to
this paragraph.
To: GreenVest/ Flat Swamp LLC:
Robert Kessler
Douglas Lashley or
Doug Frederick
4405 Dewees Court
Suite A
Raleigh, North Carolina 27612
To Green Trust Alliance:
Green Trust Alliance, Inc.
Attn: Douglas Lashley, General Counsel
210 Najoles Road
Suite 202
Millersville, Maryland 21108
4. This agreement can be amended only if fully agreed to and signed by both parties
to this Agreement.
S. The laws of the State of North Carolina and provisions of the Easement as well as
this Maintenance Agreement shall apply to the resolution of all conflicts that may
arise under terms of this agreement, if any.
6. An annual fee shall be paid to GTA by GVFS which shall be agreed to by the parties
prior to execution of this agreement and may change from time to time based on any
changed conditions imposed by any government authority having jurisdiction over
establishment of conservation easements in the State of North Carolina..
SIGNED AND AGREED TO THIS DAY OF 2014 by:
GreenV t /FI t wamp, LLC
Dou ley, Managing Member

GreenTrust Alliance, Inc.
Dougla shl , General Counsel

r"- -r, 4,ti . f N �
PR FARED BY: DOUG IlASHL:EY
ETURN TO: MARK HARTMAN
CONSERVATION EASEMENT
Ima a ID: 000001796921 Type: CRP
Kin: EASEMENT
Recorded: 01/21/2010 at 11 :26:29 AM
Fee Amt: $53.00 Page i of 14
Workflow# 0000019041 -0001
Craven, NC
Sherri B. Richard Register of Deeds
2886 =G25
PERMANENT CONSERVATION EASEMENT
THIS CONSERVATION EASEMENT ( "Conservation Easement ") made this ,4-, 7--
,� clay
of October, 2009 by and between GreenVest/Flat Swamp, LLC, ( "Grantor ") and GreenTrust
Alliance, Inc. (Grantee).
The designation Grantor and Grantee as used herein shall include said parties, their heirs,
successors and assigns, and shall include singular, plural, masculine, feminine or neuter as
required by context.
RECITALS
WHEREAS, Grantor owns in fee simple certain real property situated, lying and being in
Craven County, North Carolina, more particularly described in Exhibit A attached hereto and
incorporated herein ( "Property ").
WHEREAS, Grantee is a nonprofit corporation or trust whose purpose is the
conservation of property and is qualified to be the Grantee of a conservation easement pursuant
to N.C. Gen. Stat. § 121 -35;
WHEREAS, Grantor and Grantee recognize the conservation, scenic, natural, or aesthetic
value of the property in its restored and conserved state pursuant to the Neuse Buffer and
Nutrient Offset Buffer Mitigation Plans dated February 2009 and adopted in the Mitigation
Banking Instrument signed by the North Carolina Department of Environment and Natural
Resources: Division of Water Quality dated June 15, 2009 (Restoration Plan). The purpose of
this Conservation Easement is to maintain wetland and/or riparian resources and other natural
values of the Property, and prevent the use or development of the Property for any purpose or in
any manner that would conflict with the maintenance of the Property in its restored condition.
NOW, THEREFORE, for and in consideration of the covenants and representations
contained herein and for other good and valuable consideration, the receipt and legal sufficiency
of which is hereby acknowledged, Grantor hereby unconditionally and irrevocably grants and
conveys unto Grantee, its heirs, successors and assigns, forever and in perpetuity a Conservation
Easement of the nature and character and to the extent hereinafter set forth, over the Property
described on Exhibit A, together with the right to preserve and protect the conservation values
thereof, as follows:
ARTICLE I
DURATION OF EASEMENT
This Conservation Easement shall be perpetual. This conservation Easement is an
easement in gross, runs with the land and is enforceable by Grantee against Grantor, Grantor's
personal representatives, heirs, successors and assigns, lessees, agents and licensees.
10,04

Imaj? ID: 000001796922 Type: CRP
Kin . EASEMENT
Pape 2 of 14
BK2886po26
ARTICLE 11
PROHIBITED AND RESTRICTED ACTIVITIES
Any activity on, or use of, the Property inconsistent with the purpose of this Conservation
Easement is prohibited. The property shall be preserved in its natural condition and restricted
from any development that would impair or interfere with the conservation values of the
Property.
Without limiting the generality of the foregoing, the following activities and uses are
expressly prohibited, restricted or reserved as indicated hereunder:
A. Disturbance of Natural Features. Any change disturbance, alteration or impairment of
the natural features of the Property or any introduction on non - native plants and/or
animal species is prohibited.
B. Construction. There shall be no constructing or placing of any building, mobile home,
asphalt or concrete pavement, billboard or other advertising display, antenna, utility
pole, tower, conduit, line, pier, landing, dock or any other temporary or permanent
structure or facility on or above the Property. The only construction authorized is that
approved under the Restoration Plan or hereafter allowed by the United States Army
Corps of Engineers (USACOE) and the IRT with regard to the enhancement and
restoration of certain wetlands on the Property to be authorized under a Mitigation
Bank Instrument to be issued by the USACOE under Section 404 (b)(1) and 401 of
the Clean Water Act.
C. Industrial, Commercial and Residential Use Industrial, residential and/or commercial
activities, including any right of passage for such purposes are prohibited.
D. Agricultural, Grazing and Horticultural Use Agricultural, grazing, animal husbandry,
and horticultural use of the Property are prohibited.
E. Vegetation. There shall be no removal, burning, destruction, harming, cutting or
mowing of trees, shrubs, or other vegetation on the Property.
F. Roads and Trails. There shall be no construction of roads, trails or walkways on the
property; nor enlargement or modification to existing roads, trails or walkways.'
G. Sig anage. No signs shall be permitted on or over the Property, except the posting of no
trespassing signs, signs identifying the conservation values of the Property, signs
giving directions or proscribing rules and regulations for the use of the Property
j and/or signs identifying the Grantor as owner of the property.'
H. Dum ing or Storage. Dumping or storage of soil trash ashes, waste,
abandoned vehicles, appliances, machinery or hazardous substances, or toxic or
2

hazardous waste, or any placement of underground or aboveground storage tanks or
other materials on the Property is prohibited.
1. Excavation, Dredging or Mineral Use. There shall be no grading, filling, excavation,
dredging, mining or drilling; no removal of topsoil, sand, gravel, rock, peat, minerals
or other materials, and no change in the topography of the land in any manner on the
Property, except to restore natural topography or drainage patterns unless consistent
with Article II B above.
J. Water Quality and Drainage Pattern. There shall be no diking, draining, dredging,
channeling filling, leveling, pumping, impounding or relate activities, or altering or
tampering with water control structures or devices, or disruption or alteration of the
restored, enhanced, or created drainage patterns. In addition, diverting or causing or
permitting the diversion of surface or underground water into, within or out of the
easement area by any means, removal of wetlands, polluting or discharging into
waters, springs, seeps, or wetlands, or use of pesticide or biocides is prohibited unless
consistent with Article II B above.
K. Development Rights. No development rights that have been encumbered or
extinguished by the Conservation Easement shall be transferred pursuant to a
transferable development rights scheme or cluster development arrangement or
otherwise.
L. Vehicles. The operation of mechanized vehicles, including, but -not limited to,
motorcycles, dirt bikes, all- terrain vehicles, cars and trucks is prohibited.
M. Other Prohibitions. Any other use of, or activity on, the Property which is or may
become inconsistent with the purposes of this grant, the preservation of the Property
substantially in its natural condition, or the protection of its environmental systems, is
prohibited.
ARTICLE III
GRANTOR'S RESERVED RIGHTS
The Grantor expressly reserves for himself, it's successors and or assigns, the
right to continue the use of the property for all purposes not inconsistent with this
Conservation Easement, including, but not limited to the right to enhance and restore the
streams and wetlands located within the Property, the right to quiet enjoyment of the
Property, the rights of ingress and egress, the right to hunt, fish, and hike on the Property,
the right to sell, transfer, gift or otherwise convey the Property, in whole or in part,
provided such sale, transfer, or gift conveyance is subject to the terms of, and shall
specifically reference, this Conservation Easement.
nin8' zo Type: cn>
E 3 of 14
2886 P�27

ARTICLE IV
GRANTEE'S RIGHTS
The Grantee or its authorized representatives, successors and assigns, and the
Corps, shall have the right to enter the Property at all reasonable times for the purpose of
inspecting said property to determine if the Grantor, or it's, successors, or assigns, is
complying with the terms, conditions, restrictions, and purposes of this Conservation
Easement. The Grantee in conjunction with oversight and approval of the State of North
Carolina shall be responsible for enforcing the terms of this easement. The Grantee shall
also have the right to enter and go upon the Property for purposes of making scientific or
educational observations and studies, and taking samples.
I ARTICLE V
ENFORCEMENT AND REMEDIES
A. To accomplish the purposes of this Easement, Grantee is allowed to prevent any
activity on or use of the Property that is inconsistent with the purposes of this
Easement and to require the restoration of such areas or features of the Property that
may be damaged by such activity or use. Upon any breach of the terms of this
Conservation Easement by Grantor that comes to the attention of the Grantee, the
Grantee shall notify the Grantor in writing of such breach. The Grantor shall have 30
days after receipt of such notice to correct the conditions constituting such breach. If
the breach remains uncured after 30 days, the Grantee may enforce this Conservation
Easement by appropriate legal proceedings including damages, injunctive and other
relief. Notwithstanding the foregoing, the Grantee reserves the immediate right,
without notice, to obtain a temporary restraining order, injunctive or other appropriate
relief if the breach of the term of this Conservation Easement is or would irreversibly
or otherwise materially impair the benefits to be derived from this Conservation
j Easement. The Grantor and Grantee acknowledge that under such circumstances
damage to the Grantee would be irreparable and remedies at law will be inadequate.
The rights and remedies of the Grantee provided hereunder shall be in addition to,
and not in lieu of, all other rights and remedies available to Grantee in connection
with this Conservation Easement. The costs of a breach, correction or restoration,
including the Grantee's expenses, court costs, and attorneys' fees, shall be paid by
Grantor, provided Grantor is determined to be responsible for the breach. The Corps
shall have the same right to enforce the terms and conditions of this easement as the
Grantee.
B. No failure on the part of the Grantee to enforce any covenant or provision hereof shall
discharge or invalidate such covenant or any other covenant, condition or p rovision
hereof or affect the right to Grantee to enforce the same in the event of a subsequent
breach or default.
C. Nothing contained in this Conservation Easement shall be construed to entitle
Grantee to bring any action against Grantor for any injury or change in the Property
resulting from causes beyond the Grantor's control, including, without limitation, fire,
4 Image I0: 000001796924 Type: CRP
Kind: EASEMENT
Q Q (� Page 4 of 14
BK2S86 PQ2ag

flood, storm, war, acts of God or third parties, except Grantor's lessees or invitees; or
from any prudent action taken in good faith by Grantor under emergency conditions
to prevent, abate, or mitigate significant injury to life, damage to property or harm to
the Property resulting from such causes.
ARTICLE VI
MISCELLANEOUS
A. Warranty. Grantor warrants, covenants and represents that it owns the Property in fee
simple, and that Grantor either owns all interests in the Property which may be
impaired by the granting of this Conservation Easement or that there are no
outstanding mortgages, tax liens, encumbrances, or other interests in the Property
which have not been expressly subordinated to this Conservation Easement. Grantor
further warrants that Grantee shall have the use of and enjoy all the benefits derived
from and arising out of this Conservative Easement, and that Grantor will warrant and
defend title to the Property against the claims of all persons.
B. Subsequent Transfers. The Grantor agrees to incorporate the terms of this
Conservation Easement in any deed or other legal instrument that transfers any
interest in all or a portion of the Property. The Grantor agrees to provide written
notice of such transfer at least thirty (30) days prior to the date of the transfer. The
Grantor and Grantee agree that the term of this Conservation Easement shall survive
any merger of the fee and easement interests in the Property or any portion thereof
and shall not be amended, modified or terminated without the prior written consent
and approval of the Corps.
C. Assignment. The parties recognize and agree that the benefits of this Conservation
Easement are in gross and assignable provided, however that the Grantee hereby
covenants and agrees, that in the event it transfers or assigns this Conservation
Easement, the organization receiving the interest will be a qualified holder under N.C.
Gen. Stat. § 121 -34 et seq. and § 170(h) of the Internal Revenue Code, and the
Grantee further covenants and agrees that the terms of the transfer or assignment will
be such that the transferee or assignee will be required to continue in perpetuity the
conservation purposes described in this document.
D. Entire Agreement and Severability. This instrument sets forth the entire agreement of
the parties with respect to the Conservation Easement and supersedes all prior
discussions, negotiations, understanding or agreements relating to the Conservation
Easement. If any provision is found to be void or unenforceable by a court of
competent jurisdiction, the remainder shall continue in full force and effect.
E. Obligations of Ownership. Grantor is responsible for any real estate taxes,
assessments, fees or charges levied upon the Property. Grantor shall keep the Property
free of any liens or other encumbrances for obligations incurred by Grantor. Grantee
shall not be responsible for any costs or liability of any kind related to the ownership,
operation, insurance, upkeep, or maintenance of the Property, except as expressly
Imaqe ID: 000001796925 Type: CRP
Kind: EASEMPIT
2886 =29 5 of ,•

provided herein. Nothing herein shall relieve the Grantor of the obligation to comply
with federal, state or local laws, regulations and permits that maybe apply to the
exercise of the Reserved Rights.
F. Extinguishment. In the event that changed conditions render impossible the continued
use of the Property for the conservation purposes, this Conservation Easement may
only be extinguished, in whole or in part, by judicial proceedings.
G. Eminent Domain. Whenever all or part of the Property is taken in the exercise of
eminent domain so as to substantially abrogate the Restrictions imposed by this
Conservation Easement, Grantor and Grantee shall join in appropriate actions at the
time of such taking to recover the full value of the taking, and all incidental and direct
damages due to the taking.
H. Proceeds. This Conservation Easement constitutes a real property interest
immediately vested in Grantee. In the event that all or a portion of this Property is
sold, exchanged, or involuntarily converted following an extinguishment or the
exercise of eminent domain, Grantee shall be entitled to the fair market value of this
Conservation Easement. The parties stipulate that the fair market value of this
Conservation Easement shall be determined by multiplying the fair market value of
the Property unencumbered by this Conservation Easement (minus any increase in
value after the date of this grant attributable to improvements) by the ratio of the
value of this easement at the time of this grant to the value of the Property (without
deduction for the value of this Conservation Easement) at the time of this grant. The
values at the time of this grant shall be the values used, or which would have been
used, to calculate a deduction for federal income tax purposes, pursuant to Section
170(h) of the Internal Revenue Code (whether eligible to ineligible for such a
deduction). Grantee shall use its share of the proceeds in a manner consistent with the
purposes of this Conservation Easement.
I. Notification. Any notice, request for approval, or other communication required
under this Conservation Easement shall be sent by registered or certified mail,
postage prepaid, to the following addresses (or such address as may be hereafter
specified by notice pursuant to this paragraph):
To Grantor: j[�(
GreenVest/Flat Swamp LLC
Mr. Doug Lashley, Managing Member Image ID: 000001796926 Type: GRP
726 Second Street, Suite 3B Kind: EASEMENT Page 6 of 14
Annapolis, Maryland 21403 BK 2 8 8 6 P03 0
To Grantee:
GreenTrust Alliance, Inc.
Attn: Doug Frederick, Executive Director
1001 Capability Drive, Suite 312
Centennial Campus
Raleigh, North Carolina 27606
6

To the State of North Carolina:
Department of Environment and Natural Resources
Division of Water Quality
Wetlands Unit
1650 Mail Service Center
Raleigh, North Carolina 27699
J. Failure of Grantee. If at any time Grantee is unable or fails to enforce this
Conservation Easement, or if Grantee ceases to be a qualified grantee, and if within a
reasonable period of time after the occurrence of one of these events Grantee fails to
make an assignment pursuant to this Conservation Easement, then the Grantee's
interest shall become vested in another qualified grantee in accordance with an
appropriate proceeding in a court of competent jurisdiction.
K. Amendment. This Conservation Easement may be amended, but only in writing
signed by all parties hereto, and provided such amendment does not affect the
qualification of this Conservation Easement or the status of the Grantee under any
applicable laws, and is consistent with the conservation purposes of this grant.
L. Present Condition of the Property. The wetlands, scenic, resource, environmental, and
other natural characteristics of the Property, and its current use and state of
improvement, are described in the Mitigation Plan, dated February 2009, prepared by
Grantor and acknowledged by the Grantor and Grantee to be complete and accurate
as of the date hereof. Both Grantor and Grantee have copies of this report. It will be
used by the parties to assure that any future changes in the use of the Property will be
consistent with the terms of this Conservation Easement. However, this report is not
intended to preclude the use of their evidence to establish the present condition of the
Property if there is a controversy over its use.
Kin page 7 01 14
2886 0 =31

TO HAVE AND TO HOLD the said rights and easements perpetually unto Grantee for the
aforesaid purposes.
IN TESTIMONY WHEREOF, the Grantor has hereunto set his hand and seal, the day and year
first above written.
GRANTOR:
Witness
GREENVEST LAT SWAMP LLC
j /
By: Dougl Lashley
Managing Member
GREENTRUST ALLIANCE, I C.
By: Doug as Frederick
Executive Director
8
xMee ID: 000001796928 .. Page 8 of 14
a•2886 Po32

STATE OF MARYLAND
COUNTY OF ANNE ARUNDEL
I, 7f> V / 'VSJZa Notary Public of Mine Arunduttrenty, Maryland certify that Douglas Lashley
personally appeared before me this day and acknowledged that the foregoing instrument was signed in his name and
he is seauthorized to act.
Wi ss my hand an t is seal, thi 2! day of October 2009
D-44C-
�,;,a•i a► , Notary Public
f,,
'res: lel Z.
fps 40
S ATE OF`y`
COUNTY OF
1, 6 ' WVIMALU' , a Notary Public of the aforesaid County and State, certify that
• . kkl V }may- personally appeared before me this day and acknowledged that he/she is the Executive
Dire d or of GreenTrust Alliance, Inc., a corporation of the State of Maryland, and that, by authority duly given and
as the act of the corporation, the foregoing instrument was signed in its name by Douglas Fredrick, its Executive
Director.
Witness my hand and notarial seal, this day of �" ��' 2009
A All,
Notary Public ``0 <�pp�,1(.• Mi1jt���i���
dop
/I �IO aw dim
My commission expires: �u1� j L: (;'} ,
kE CO�,�`�
Kin . EASEMENT Page 9 of 14
�33
2886 =

EXHIBIT A
iiiiiiiimillllgmmnmiiillillillillillI
Imaqe ID: 000001796930 Type: CRP
Kind: EASEMENT
,�2886PG34 '0,•,•

Mar ID:
eK2g
(3) Joint Davis - Hogan Access Easement - Together with
and subject to a non - exclusive, perpetual, right of
way and easement for the purposes of ingress,
egress, regress, access, utilities and further
subdivision by both the grantor and grantee and
their heirs, successors and assigns. Said easement
is appurtenant to Tract No. 1 and Tract No. 2 as
shown on the map recorded in Plat Cabinet ,
Slide 161 Pr and to the remaining property of
Larry V. Hogan. Said easement is 25 feet in width
and its centerline is described as follows:
BEGINNING at a point which lies the following
courses and distances from the southwestern corner
of Tract No. 2 and the northwestern corner of Tract
No. 1 as shown on the map recorded in Plat
Cabinet _ _, Slide 161 R South 130 31' 9" West
182.6 feet and South 6-6--101 13" West 976.50 feet.
THENCE FROM THIS POINT OF BEGINNING SO LOCATED
North 00 10' 13" East 976.50 feet to an iron pipe;
thence North 130 31' 9" East 182.60 feet to an iron
pipe; thence North 00 32' 59" East 2,518 feet to an
iron pipe; and thence North 00 5' 411 East 2,334.79
feet to the northwestern corner of Tract No. 2.
(4) Drainage Easement - Eastern Line Tracts Nos. 1
and 2 - Together with and subject to a non-
exclusive, perpetual* easement for drainage purposes
in and to the ditches which extend along the
eastern line of Tract No. 2 and Tract No. 1 as same
are shown and delineated on the map recorded in
Plat Cabinet .:Ir , Slide 161 f} . Those parties
making use of the said ditches shall be
responsible, jointly, for the maintenance and
repair of said ditches and shall have the right to
travel up and down the sides of said ditches to
perform such maintenance and repait.
(5) Drainage Easement_ over Tract No. 3 - Together with
a non - exclusive, perpetual easement for drainage
purposes in and to the ditch which extends along
the woods line through Tract No. 3 as shown and
delineated on the map recorded in Plat
Cabinet T-' , Slide lepltA from the southeastern
corner of Tract No. 2 in an easterly direction
through Tract No. 3 to the northeastern corner of
Tract No. 3. Said Tract No. 2 and Tract No. 3 are
shown and delineated on the map recorded in Plat
Cabinet , Slide 1(p 1 A. Those parties making
use of said ditch shall be responsible, jointly,
for the maintenance and repair of said ditch and
shall have the right to travel up and down the
sides of said ditch to perform such maintenance and
repair.
The aforesaid easements are appurtenant to the above described
nronArty and shall run with the land.
3111111111111111
Noe: CRP
Imaq�'ID: )00001438417 Type: CRP
Page 4 of 6
8K 2741pci836

Iillllllllllllllll: C, 0lllllllllllllllllllillllllllillllllillilllllllllllllllll a�III III�IlI 1HH�I IH i�II INH I N
Image SD: 00000!786933 Type: CRP ' <
Kind: EASEMENT Pape 13 of 34 Image ID: 000001438425 Type: CRP
Page 3 of 4
BK2886 PG37 SCHEDULEA SK2741 PG841
LEGAL DESCRIPTION
BEGINNING at an existing iron pipe which is located the following three (3) courses and
distances from the intersection of the centerlines of North Carolina State Road 1262 (Dover —
Fort Barnwell Road, a paved public right -of -way 60 feet in width) and North Carolina State
Road 1258 (Jonestown Road, a paved public right -of -way): (a) along and with the centerline of
North Carolina State Road 1262, in a southwesterly direction, 0.7 miles to a point which is 44.94
feet short of a nail in a culvert under the centerline of said road; (b) leaving the centerline of said
road, South 010 38' 52" West 3,370.48 feet to an existing iron pipe; and (c) South 00° 03' 02"
West 2,439.15 feet to an existing iron pipe in a farm road at a common comer with land either
now or formerly owned by Weyerhaeuser Company and acquired by deed recorded in Book
1628, at Page 10 in the Office of the Register of Deeds of Craven County, North Carolina, the
same being the true POINT AND PLACE OF BEGINNING; thence along and with the common
Weyerhaeuser boundary, the following seven (7) courses and distances: (a) along and with said
farm road, South 88° 57' 24" West 2,091.66 feet to an existing iron pipe; (b) along and with said
farm road, South 00° 05' 04" West 2,334.79 feet to an existing iron pipe; (c) along and with said
farm road, South 00° 32' 59" West 2,518.00 feet to an existing iron pipe; (d) along and with said
farm road South 13° 31' 09" West 182.60 feet; (e) along and with said farm road, South 31° 08'
21" East 17.63 feet; (f) leaving said farm road, South 00° 10' 13" West 976.50 feet in a ditch; and
(g) along and with said ditch, South 221 13' 30" West 1,090.46 feet to an existing iron pipe in a
common boundary with land either now or formerly owned by Betty Hazelwood, acquired by
deed recorded in Book 212, at Page 70 and shown on a plat recorded in Plat Cabinet A, at Slide
117 -B, all in the Office of the Register of Deeds of Craven County, North Carolina; thence
leaving the common Weyerhaeuser boundary and along and with a common Hazelwood
boundary, the following three (3) courses and distances: (a) South 650 25' 21" East 1,934.81 feet
to a railroad iron; (b) North 62° 56'27" East 2,079.09 feet to an existing iron pipe; and (c) North
49° 21' 03" West 1,503.67 feet to an existing iron pipe at a common corner with land either now
or formerly owned by Guy Warmack Estate, acquired by deed recorded in Book 1406, at Page
797 and shown on a plat recorded in Plat Cabinet F, at Slide 161 -A, all in the Office of the
Register of Deeds of Craven County, North Carolina; thence leaving the common Hazelwood
boundary and along and with a ditch and the common Warmack boundary, the following five (5)
courses and distances: (a) North 00" 44' 15" East 1,017.41 feet to a point; (b) South 89° 16' 21"
East 59.16 feet to a point; (c) North 00° 233'46" West 687.07 feet to a point; (d) North 00° 48'26"
East 1,249.11 feet to a point; and (e) North 000 24' 59" East 2,981.27 feet to the POINT AND
PLACE OF BEGINNING, containing approximately 386.63 acres, more or less, as shown and
delineated on that certain Survey for Greenvest LLC, dated February 21, 2008 and prepared by
William Edward Matthews (L -1282) of Matthews Surveying PLLC.
TOGETHER WITH non - exclusive and perpetual easements and rights -of -way for ingress,
egress, access, utilities and further subdivision between the aforesaid property and North
Carolina State Road 1263 (Lofton Farin Road, a paved public right -of -way 60 feet in width) in
the area described as follows: BEGINNING at an existing iron pipe which is located the
following six (6) courses and distances from the intersection of the centerlines of North Carolina
State Road 1262 (Dover — Fort Barnwell Road, a paved public right -of -way 60 feet in width) and
North Carolina State Road 1258 (Jonestown Road, a paved public right -of -way): (a) along and

with the centerline of North Carolina State Road 1262, in a southwesterly direction, 0.7 miles to
a point which is 44.94 feet short of a nail in a culvert under the centerline of said road; (b)
leaving the centerline of said road, South 010 38'52" West 3,370.48 feet to an existing iron pipe;
(c) South 000 03' 02" West 2,439.15 feet to an existing iron pipe in a farm road at a common
corner with land either now or formerly owned by Weyerhaeuser Company and acquired by deed
recorded in Book 1628, at Page 10 in the Office of the Register of Deeds of Craven County,
North Carolina; (d) along and with the common Weyerhaeuser boundary and said farm road,
South 880 57' 24" West 2,091.66 feet to an existing iron pipe; (e) along and with the common
Weyerhaeuser boundary and said farm road, South 000 05'04" West 2,334.79 feet to an existing
iron pipe; and (f) along and with the common Weyerhaeuser boundary and said farm road, South
00' 32 59 West 2,518.00 feet to an existing iron pipe, the same being the true POINT AND
PLACE OF BEGINNING; thence back up the common Weyerhaeuser boundary and said farm
road, North 000 32' 59" East 103.41 feet to a point; thence leaving the common Weyerhaeuser
boundary, North 890 27' 01 " West 30.00 feet to a point; thence South 000 32' 59" West 100.00
feet to a point; thence South 130 31' 09" West 170.71 feet to a point; thence North 890 26' 56"
West 1,891.66 feet to a point; thence North 820 29"23" West 202.51 feet to a point; thence South
890 06' 04" West 248.35 feet to a point; thence South 610 46' 09" West 110.20 feet to a point;
thence South 310 48' 42" West 235.10 feet to a point; thence South 300 56' 26" West 1,371.65
feet to a point; thence North 190 04' 17" West 11.80 feet to a point; thence South 300 01' 24"
West 296.08 feet to a point; thence North 770 35' 29" West 329.70 feet to a point; thence North
850 21' 32" West 299.70 feet to a point; thence North 790 36' 59" West 521.07 feet to a point;
thence North 880 02' 19" West 290.48 feet to a point; thence South 600 04'29' West 126.21 feet
to a point; thence South 400 40' 24" West 517.15 feet to a point; thence South 210 36' 39" West
408.98 feet to a point; thence South 580 51' 39" West 85.47 feet to a point; thence North 760 48'
36" West 392.68 feet to a point; thence South 760 26' 24" West 128.54 feet to a point; thence
South 340 47' 49" West 504.15 feet to a point; South 300 50' 59" West 990.68 feet to a point in
the eastern margin of the right -of -way of North Carolina State Road 1263 (Lofton Farm Road, a
paved public right-of-way 60 feet in width); thence along and with the eastern margin of the
right -of -way of said state road, South 330 32' 46" East 55.44 feet to a point; thence leaving the
eastern margin of the right -of -way of said state road, North 300 50' 59" East 1,012.92 feet to a
point; thence North 340 47' 49" East 483.41 feet to a point; thence North 760 26' 24" East 97.64
feet to a point; thence South 760 48'3611 East 401.16 feet to a point; thence North 580 51' 39" Fast
122.64 feet to a point; thence North 210 36' 39" East 417.44 feet to a point; thence North 400 40'
24" East 508.67 feet to a point; thence North 600 04'29" East 105.21 feet to a point; thence South
880 02' 19" East 281.72 feet to a point; thence South 790 36' 59" East 522.25 feet to a point;
thence South 850211 _32 East 300.59 feet to a point; thence South 770 35' 29" East 335.30 feet to
a point; thence North 300 01' 24" East 274.78 feet to a point; thence North 190 04' 17" West
15.20 feet to a point; thence North 300 56'26" East 1,406.37 feet to a point; thence North 310 48'
42" East 217.07 feet to a point; thence North 610 46' 09" East 94.88 feet to a point; thence North
890 06' 04" East 231.05 feet to a point; thence South 820 29' 23" East 211.65 feet to a point;
thence South 89126' 56" East 1,928.25 feet to an existing iron pipe in the common Weyerhaeuser
boundary; thence along and with the common Weyerhaeuser boundary, North 310 08' 21 " West
17.63 feet to an existing iron pipe; thence along and with the common Weyerhaeuser boundary;
North 130 31' 09" East 182.60 feet to the POINT AND PLACE OF BEGINNING, as shown and
delineated on that certain Survey for Greenest LL,C, dated February 21, 2008 and prepared by
William .Edward Matthews (L -1282) of Matthews Surveying PLLC.
Type: CRP Image ID: 300001438
Image ID: 000001796934 yp 426 Type: CRP
Kind: EASEMENT Pape 4 of 4
Pape 14 of 14 BK 2 74 1 PG842
BK2886PG38