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Home My WebLink About20201091 Ver 2_Jernigan (Shady Grove 20201149 v2) Conservation Easement Plat and Title_For Submittal_20230414ID#* 20201091 Version* 2 Select Reviewer: Katie Merritt Initial Review Completed Date 04/17/2023 Mitigation Project Submittal - 4/14/2023 Is this a Prospectus, Technical Proposal or a New Site?* Yes No Type of Mitigation Project:* Stream Wetlands Buffer Nutrient Offset (Select all that apply) Project Contact Information Contact Name: * Email Address: Jamey McEachran jmceachran@res.us Project Information ID#: * 20201149 Version:* 2 Existing ID# Existing Version Project Type: DMS Mitigation Bank Project Name: Shady Grove Mitigation Site County: Wayne Document Information Mitigation Document Type:* Mitigation Conservation Easement File Upload: Jernigan (Shady Grove 20201149 v2) Conservation 896.56K6 Easement Plat and Title —For Submittal.pdf Please upload only one PDF of the complete file that needs to be submitted... Signature Print Name:* Jamey McEachran Signature: * �� rlarRr� �i�t�t�tr RES Draft 2023.4.14 PERMANENT CONSERVATION EASEMENT Excise Tax: $ ______________________________________________________________ Parcel Identifier No.: 2563-66-2469 ______________________________________________________________ Prepared by and return after recording to: RES, c/o Stephen Colomb, 6575 West Loop South, Suite 300, Bellaire, TX 77401 ______________________________________________________________ Brief description for the Index: 19.829 (+/-) acre Conservation Easement in Wayne County, NC THIS CONSERVATION EASEMENT (“Conservation Easement”) made this ____ day of ____________________, 2023 by and between Douglas Allen Jernigan and Aileen K. Jernigan, whose mailing address is 781 Thunder Swamp Road, Mount Olive, NC 28365 (“Grantor”) and Colonel Land, LLC, a Delaware limited liability company, whose mailing address is 6575 West Loop South, Suite 300, Bellaire, TX 77401 (“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 Wayne County, North Carolina, more particularly described in Exhibit A attached hereto and incorporated herein (the “Property”); WHEREAS, Grantee is a charitable, not-for-profit or educational corporation, association, or trust qualified under § 501 (c)(3) and § 170 (h) of the Internal Revenue Code, and N.C. Gen. Stat. § 121-34 et seq., the purposes or powers of which include one or more of the purposes (a) – (d) listed below; RES Draft 2023.4.14 (a) retaining or protecting natural, scenic, or open-space aspects of real property; (b) ensuring the availability of real property for recreational, educational, or open-space use; (c) protecting natural resources; (d) maintaining or enhancing air or water quality. WHEREAS, Grantor and Grantee recognize the conservation, scenic, natural, or aesthetic value of the property in its natural state, which includes the following natural communities: riparian buffers. The purpose of this Conservation Easement is to maintain streams, wetlands and riparian resources and other natural values of approximately 19.829 acres, more or less, and being more particularly described in Exhibit B attached hereto and incorporated fully herein by reference (the “Conservation Easement Area”), and prevent the use or development of the Conservation Easement Area for any purpose or in any manner that would conflict with the maintenance of its natural condition. WHEREAS, the restoration, enhancement and preservation of the Conservation Easement Area is also a condition of the approval of the RES 2021 Neuse Umbrella Mitigation Banking Instrument (“UMBI”), North Carolina Division of Water Resources (“NCDWR”) Project ID# 2020-1149v2, and Bank Parcel Development Package (“BPDP”) for the Shady Grove Riparian Buffer and Nutrient Offset Mitigation Bank, NCDWR Project ID# 2020-1091v2, which was approved by the NCDWR, and will be made and entered into by and between Environmental Banc & Exchange, LLC (“EBX”), acting as the Bank Sponsor (“Bank Sponsor”), and the NCDWR. The Shady Grove Riparian Buffer and Nutrient Offset Site is intended to be used to compensate for riparian buffer and nutrient impacts to surface waters. WHEREAS, Grantor and Grantee agree that third-party rights of enforcement shall be held by the Bank Sponsor and the NCDWR (“Third -Parties”) and may be exercised through the appropriate enforcement agency of the State of North Carolina, and that these rights are in addition to, and do not limit, the rights of enforcement under the NCDWR Project ID# 2020-1149v2 or any permit or certification issued by the Third- Parties. 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 Conservation Easement Area described on Exhibit B, together with the right to preserve and protect the conservation values thereof, as follows: ARTICLE I. RES Draft 2023.4.14 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. ARTICLE II. PROHIBITED AND RESTRICTED ACTIVITIES Any activity on, or use of, the Conservation Easement Area inconsistent with the purpose of this Conservation Easement is prohibited. The Conservation Easement Area shall be preserved in its natural condition and restricted from any development that would impair or interfere with the conservation values of the Conservation Easement Area. 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 Conservation Easement Area or any introduction of 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 Conservation Easement Area. C. Industrial, Commercial and Residential Use. Industrial, residential and/or commercial activities, including any rights of passage for such purposes are prohibited. D. Agricultural, Grazing and Horticultural Use. Agricultural, grazing, animal husbandry, and horticultural use of the Conservation Easement Area are prohibited. E. Vegetation. There shall be no removal, burning, destruction, harming, cutting or mowing of trees, shrubs, or other vegetation in the Conservation Easement Area except as provided in the BPDP. Mowing of invasive and herbaceous vegetation for purposes of enhancing planted or volunteer trees and shrubs approved in the BPDP is allowable once a year for no more than five consecutive years from the date on page 1 of this Conservation Easement, except where mowing will negatively impact vegetation or disturb soils. Mowing activities shall only be performed by the Bank Sponsor and shall not violate any part of Item L of Article II. F. Roads and Trails. There shall be no construction of roads, trails or walkways on the Conservation Easement Area; nor enlargement or modification to existing RES Draft 2023.4.14 roads, trails or walkways. G. Signage. No signs shall be permitted on or over the Conservation Easement Area, except the posting of no trespassing signs, signs identifying the conservation values of the Conservation Easement Area, signs giving directions or proscribing rules and regulations for the use of the Conservation Easement Area and/or signs identifying the Grantor as owner of the Conservation Easement Area. H. Dumping or Storage. Dumping or storage of soil, trash, ashes, garbage, waste, abandoned vehicles, appliances, machinery or hazardous substances, or toxic or hazardous waste, or any placement of underground or aboveground storage tanks or other materials on the Conservation Easement Area is prohibited. I. 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 Conservation Easement Area, except to restore natural topography or drainage patterns. J. Water Quality and Drainage Pattern. There shall be no diking, draining, dredging, channeling, filling, leveling, pumping, impounding or related 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. K. Development Rights. No development rights that have been encumbered or extinguished by this 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 other than for temporary or occasional access by the Grantee and the Third-Parties, and their employees and agents, successors, and assigns for purposes of constructing, maintaining, and monitoring the restoration, enhancement and preservation of riparian areas within the Conservation Easement Area. M. Other Prohibitions. Any other use of, or activity on, the Conservation Easement Area which is or may become inconsistent with the purposes of this grant, the preservation of the Conservation Easement Area substantially in its natural condition, or the protection of its environmental systems, is prohibited. ARTICLE III RES Draft 2023.4.14 GRANTOR’S RESERVED RIGHTS The Grantor expressly reserves for himself, his personal representatives, heirs, successors or assigns, the right to continue the use of the Conservation Easement Area for all purposes not inconsistent with this Conservation Easement, including, but not limited to, the right to quiet enjoyment of the Conservation Easement Area, the rights of ingress and egress, the right to hunt, fish, and hike on the Conservation Easement Area, the right to sell, transfer, gift or otherwise convey the Conservation Easement Area, 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. Notwithstanding the foregoing Restrictions, Grantor reserves for Grantor, its successors and assigns, including EBX acting as the Bank Sponsor, the right to construct and perform activities related to the restoration, enhancement, and preservation of riparian areas within the Conservation Easement Area in accordance with the approved BPDP, and the UMBI described in the Recitals of this Conservation Easement. ARTICLE IV. GRANTEE’S RIGHTS The Grantee or its authorized representatives, successors and assigns and the Third-Parties, shall have the right to enter the Property in the locations labeled “Access to Conservation Easement Area from Thunder Swamp Road” and “30’ Wide Access Area” on that certain plat recorded in Plat Book ____, Page ____, and the right to enter the Conservation Easement Area at all reasonable times for the purpose of inspecting the Conservation Easement Area to determine if the Grantor, or his personal representatives, heirs, successors, or assigns, is complying with the terms, conditions, restrictions, and purposes of this Conservation Easement. The Grantee and its authorized representatives, successors and assigns and the Third-Parties shall also have the right to enter and go upon the Conservation Easement Area for purposes of making scientific or educational observations and studies, and taking samples. The easement rights granted herein do not include public access rights. ARTICLE V ENFORCEMENT AND REMEDIES A. To accomplish the purposes of this Easement, Grantee, and the Third- Parties are allowed to prevent any activity on or use of the Conservation Easement Area that is inconsistent with the purposes of this Easement and to require the restoration of such areas or features of the Conservation Easement Area 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 RES Draft 2023.4.14 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 terms of this Conservation Easement is or would irreversibly or otherwise materially impair the benefits to be derived from this Conservation 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 Third -Parties shall have the same rights and privileges as the said Grantee to enforce the terms and conditions of this Conservation easement. 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 provision 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 Conservation Easement Area resulting from causes beyond the Grantor’s control, including, without limitation, fire, 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 Conservation Easement Area 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 Conservation 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 Conservation Easement Area. The Grantor agrees to provide written notice of such transfer at least sixty (60) days prior to the date of the transfer. The Grantor and Grantee agree that the terms of this Conservation Easement RES Draft 2023.4.14 shall survive any merger of the fee and easement interests in the Conservation Easement Area or any portion thereof and shall not be amended, modified or terminated without the prior written consent and approval of the NCDWR. 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 pursuant to 33 CFR 332.7 (a)(1), N.C. Gen. Stat. § 121-34 et seq. and § 501 (c)(3) 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. The UMBI with corresponding BPDP, and this Conservation Easement sets forth the entire agreement of the parties with respect to the Conservation Easement and supersedes all prior discussions, negotiations, understandings 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 provided herein. Nothing herein shall relieve the Grantor of the obligation to comply with federal, state or local laws, regulations and permits that may apply to the exercise of the Reserved Rights. F. Long-Term Management. If livestock operations will be maintained on the property, Grantor is responsible for all long-term management activities associated with fencing, if and where applicable, to ensure livestock do not have access to the Conservation Easement Area. These activities include the maintenance and/or replacement of fence structures, as deemed necessary by the Grantee, to ensure the aquatic resource functions within the boundaries of the Protected Property are sustained. G. Extinguishment. In the event that changed conditions render impossible the continued use of the Conservation Easement Area for the conservation purposes, this Conservation Easement may only be extinguished, in whole or in part, by judicial proceeding. H. Eminent Domain. Whenever all or part of the Conservation Easement Area 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 RES Draft 2023.4.14 incidental and direct damages due to the taking. I. Proceeds. This Conservation Easement constitutes a real property interest immediately vested in Grantee. In the event that all or a portion of the Conservation Easement Area 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 as determined at the time of the extinguishment or condemnation. J. 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: Douglas Allen Jernigan Aileen K. Jernigan 781 Thunder Swamp Road Mount Olive, NC 28365 To Grantee: Colonel Land, LLC 6575 West Loop South, Suite 300 Bellaire, TX 77401 To Sponsor: Environmental Banc & Exchange, LLC 6575 West Loop South, Suite 300 Bellaire, TX 77401 To NCDEQ -DWR: NCDEQ – Division of Water Resources 401 & Buffer Permitting Branch 1617 Mail Service Center Raleigh, NC 27699-1601 K. 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. L. Amendment. This Conservation Easement may be amended, but only in a 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 RES Draft 2023.4.14 grant. M. Present Condition of the Conservation Easement Area. The wetlands, scenic, resource, environmental, and other natural characteristics of the Conservation Easement Area, and its current use and state of improvement, are described in Section 2 of the BPDP, prepared by Bank Sponsor 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 Conservation Easement Area will be consistent with the terms of this Conservation Easement. However, this report is not intended to preclude the use of other evidence to establish the present condition of the Conservation Easement Area if there is a controversy over its use. TO HAVE AND TO HOLD the said rights and easements perpetually unto Grantee for the aforesaid purposes. [SIGNATURE PAGES TO FOLLOW] RES Draft 2023.4.14 IN TESTIMONY WHEREOF, the Grantor has hereunto set his hand and seal, the day and year first above written. GRANTOR: ___________________________________ (SEAL) Douglas Allen Jernigan NORTH CAROLINA COUNTY OF _________________ I, _____________________________, a Notary Public in and for the County and State aforesaid, do hereby certify that Douglas Allen Jernigan, Grantor, personally appeared before me this day and acknowledged the execution of the foregoing instrument. IN WITNESS, WHEREOF, I have hereunto set my hand and Notary Seal this the ___ day of ___________________, 2023. ___________________________________ Signature of Notary Public [SEAL] ___________________________________ Printed Name of Notary Public My commission expires: _______________ RES Draft 2023.4.14 IN TESTIMONY WHEREOF, the Grantor has hereunto set his hand and seal, the day and year first above written. GRANTOR: ___________________________________ (SEAL) Aileen K. Jernigan NORTH CAROLINA COUNTY OF _________________ I, _____________________________, a Notary Public in and for the County and State aforesaid, do hereby certify that Aileen K. Jernigan, Grantor, personally appeared before me this day and acknowledged the execution of the foregoing instrument. IN WITNESS, WHEREOF, I have hereunto set my hand and Notary Seal this the ___ day of ___________________, 2023. ___________________________________ Signature of Notary Public [SEAL] ___________________________________ Printed Name of Notary Public My commission expires: _______________ RES Draft 2023.4.14 IN TESTIMONY WHEREOF, the Grantee has hereunto set his hand and seal, the day and year first above written. GRANTEE: Colonel Land, LLC a Delaware limited liability company By: ____________________________ Name: _________________________ Title: ___________________________ STATE OF COUNTY OF _________________ I, a Notary Public in and for the County and State aforesaid, do hereby certify that _________________________ personally appeared before me this day and acknowledged that he/she is the _________________________ of Colonel Land, LLC, a Delaware limited liability company, and that by authority duly given, and as the act of the Grantee, he/she signed the foregoing instrument in its name, on its behalf and as its act and deed for the purposes stated herein. IN WITNESS WHEREOF, I have hereunto set my hand and Notary Seal this the ___ day of ___________________, 2023. ________________________________ Signature of Notary Public [SEAL] ________________________________ Printed Name of Notary Public My commission expires: ____________ RES Draft 2023.4.14 EXHIBIT A Legal Description of the Property BEING 150.287 acres, more or less, tract or parcel of real property situated in Wayne County, North Carolina, being identified by the PIN number 2563662469, and more particularly described in deeds recorded in Book 2832, Page 255, of the Wayne County Registry, North Carolina. RES Draft 2023.4.14 EXHIBIT B Conservation Easement Area BEING THAT 19.829 ACRE AREA, AS SHOWN ON PLAT OF SURVEY ENTITLED “CONSERVATION EASEMENT SURVEY, OWNERS DOUGLAS ALLEN JERNIGAN AND AILEEN K JERNIGAN, PIN 2563-66- 2469, PREPARED FOR ENVIRONMENTAL BANC & EXCHANGE, LLC, “PROJECT NAME: SHADY GROVE”, PROJECT: 21-02-11, MAP: 6/6/2022, PREPARED BY CHRISTOPHER L COLE, PLS NUMBER L-5008, AND RECORDED IN THE WAYNE COUNTY REGISTER OF DEEDS OFFICE AT PLAT BOOK ________, AT PAGE ________ (THE “SURVEY”), AND BEING FURTHER DESCRIBED AS FOLLOWS: CONSERVATION EASEMENT “1” PARCEL IDENTIFICAITON NUMBER (PIN) 2563662469 294,821 S.F. +/- 6.768 AC. A PERMANENT CONSERVATION EASEMENT OVER A PORTION OF LAND IN BROGDON TOWNSHIP, WAYNE COUNTY, NORTH CAROLINA AS SHOWN ON A SURVEY PREPARED BY ASCENSION LAND SURVEYING WITH A PROJECT NUMBER OF 21-02-11 DATED , 2023 AND BEING RECORDED IN PLAT BOOK , PAGE WITH THE WAYNE COUNTY REGISTER OF DEEDS OFFICE AND BEING ON THE LAND OWNED BY (NOW OR FORMERLY) DOUGLAS ALLEN JERNIGAN AND AILEEN K JERNIGAN. BEGINNING AT A #4 REBAR BEING THE MOST NORTHEASTERN CORNER OF THE EASEMENT DESCRIBED HEREIN; THENCE S 26°02’32” E 105.58’ TO A #4 REBAR; THENCE S 07°52’26” W 39.91’ TO A #4 REBAR; THENCE S 43°10’51”W 46.96’ TO A #4 REBAR; THENCE S 11°28’21” W 40.48’ TO A #4 REBAR; THENCE S 30°58’50” E 108.55’ TO A #4 REBAR; THENCE S 04°05’51” E 121.41’ TO A #4 REBAR; THENCE S 64°24’20” W 175.16’ TO A #4 REBAR; THENCE S 02°46’31” W 67.89’ TO A #4 REBAR; THENCE S 17°43’19” W 190.90’ TO A #4 REBAR; THENCE S 63°45’59” W 738.89’ TO A #4 REBAR BEING IN THE EASTERN RIGHT OF WAY LINE OF THE 100’ CAROLINA POWER AND LIGHT EASEMENT (DB 2260 PG 718); THENCE WITH THAT RIGHT OF WAY LINE N 25°47’08” W 238.81’ TO A #4 REBAR IN THE CENTERLINE OF A DITCH; THENCE WITH THE CENTERLINE OF THE DITCH THE FOLLOWING EIGHTEEN (18) CALLS: 1) N 45°30’16” E 6.46’ TO A POINT 2) N 62°04’50” E 44.25’ TO A POINT 3) N 66°40’08” E 26.88’ TO A POINT 4) N 69°13’22” E 41.97’ TO A POINT 5) N 77°45’46” E 33.78’ TO A POINT 6) S 86°07’35” E 11.15’ TO A POINT 7) S 69°22’24” E 13.91’ TO A #4 REBAR 8) N 65°57’53” E 46.38’ TO A POINT 9) N 70°29’08” E 90.75’ TO A #4 REBAR 10) N 36°07’03” E 35.46’ TO A #4 REBAR 11) N 67°38’21” E 120.46’ TO A POINT 12) N 64°17’13” E 39.52’ TO A POINT RES Draft 2023.4.14 13) N 58°18’00” E 178.95’ TO A POINT 14) N 08°35’04” E 51.03’ TO A #4 REBAR 15) N 04°07’17” E 154.24’ TO A #4 REBAR 16) N 52°00’57” E 12.57’ TO A #4 REBAR 17) N 64°54’38” E 181.98’ TO A #4 REBAR 18) N 15°44’32” W 216.33’ TO A #4 REBAR; THENCE LEAVING THE CENTERLINE OF DITCH N 66°38’05” E 188.69’ TO THE POINT AND PLACE OF BEGINNING. DESCRIPTION BASED ON A SURVEY TITLED “CONSERVATION EASEMENT SURVEY ENVIRONMENTAL BANC & EXCHANGE, LLC, SHADY PROJECT: PROJECT: 20-02-11 “SHADY GROVE” LEGAL DESCRIPTION CONSERVATION EASEMENT “2” PARCEL IDENTIFICAITON NUMBER (PIN) 2563662469 568,935 S.F. +/- 13.061 AC. A PERMANENT CONSERVATION EASEMENT OVER A PORTION OF LAND IN BROGDON TOWNSHIP, WAYNE COUNTY, NORTH CAROLINA AS SHOWN ON A SURVEY PREPARED BY ASCENSION LAND SURVEYING WITH A PROJECT NUMBER OF 21-02-11 DATED , 2023 AND BEING RECORDED IN PLAT BOOK , PAGE WITH THE WAYNE COUNTY REGISTER OF DEEDS OFFICE AND BEING ON THE LAND OWNED BY (NOW OR FORMERLY) DOUGLAS ALLEN JERNIGAN AND AILEEN K JERNIGAN. BEGINNING AT A #4 REBAR BEING THE MOST NORTHEASTERN CORNER OF THE EASEMENT DESCRIBED HEREIN; THENCE S 11°01’09” W 236.90’ TO A #4 REBAR; THENCE S 72°03’35” W 1418.91’ TO A #4 REBAR; THENCE S 72°03’35” W 122.89’ TO A #4 REBAR IN THE CENTERLINE OF A DITCH; THENCE WITH THE CENTERLINE OF THE DITCH THE FOLLOWING TWENTY FIVE (25) CALLS: 1) S 50°35’04” W 105.26’ TO A #4 REBAR 2) S 57°22’30” W 147.10’ TO A POINT 3) S 45°54’09” W 31.17’ TO A POINT 4) S 74°18’33” W 23.38’ TO A POINT 5) N 85°29’28” W 18.55’ TO A POINT 6) S 67°35’51” W 78.79’ TO A POINT 7) S 79°41’38” W 33.01’ TO A POINT 8) S 47°36’02” W 10.27’ TO A POINT 9) S 83°41’36” W 26.60’ TO A POINT 10) S 37°55’29” W 24.13’ TO A POINT 11) S 57°55’13” W 40.91 TO A POINT 12) S 82°30’45” W 50.42’ TO A POINT 13) S 41°30’20” W 17.17’ TO A POINT 14) S 72°51’08” W 10.82’ TO A POINT 15) S 60°32’15” W 40.79’ TO A POINT RES Draft 2023.4.14 16) S 79°11’04” W 28.34’ TO A POINT 17) S 44°08’07” W 25.57’ TO A POINT 18) S 75°40’49” W 27.90’ TO A POINT 19) S 41°39’39” W 28.38’ TO A POINT 20) S 56°48’38” W 30.84’ TO A POINT 21) S 43°22’47” W 54.55’ TO A POINT 22) S 86°20’25” W 32.30’ TO A POINT 23) S 62°54’05” W 36.37’ TO A POINT 24) S 59°11’31” W 47.68’ TO A POINT 25) S 44°43’32” W 54.70’ TO A POINT WHERE THE CENTERLINE OF THE DITCH MEETS THE EASTERN RIGHT OF WAY OF A 100’ CAROLINA POWER AND LIGHT EASEMENT (DB 2260 PG 718); THENCE LEAVING THE CENTERLINE OF THE DITCH AND RUNNING WITH THE EASTERN RIGHT OF WAY OF THE AFOREMENTIONED EASEMENT N 25°47’08” W 221.70’ TO A #4 REBAR; THENCE LEAVING THE RIGHT OF WAY N 51°34’38” E 110.72’ TO A #4 REBAR; THENCE N 63°03’58” E 431.57’ TO A #4 REBAR; THENCE N 72°04’09” E 181.94’ TO A #4 REBAR; THENCE N 32°00’33” E 114.01’ TO A #4 REBAR; THENCE N 53°00’35” E 125.55’ TO A #4 REBAR; THENCE N 75°02’11” E 485.38’ TO A #4 REBAR; THENCE N 72°18’14” E 1268.29’ TO THE POINT AND PLACE OF BEGINNING. DESCRIPTION BASED ON A SURVEY TITLED “CONSERVATION EASEMENT SURVEY ENVIRONMENTAL BANC & EXCHANGE, LLC, SHADY PROJECT: PROJECT: 20-02-11 “SHADY GROVE” TOGETHER WITH NON-EXCLUSIVE ACCESS OVER, ACROSS AND THROUGH (I) THAT CERTAIN 30 FOOT WIDE ROAD LEADING FROM THUNDER SWAMP ROAD (SR 1117) LABELED “ACCESS TO CONSERVATION EASEMENT AREA FROM THUNDER SWAMP ROAD” AND (II) THOSE CERTAIN AREAS LABELED “30’ WIDE ACCESS AREA”, ALL AS SHOWN ON THE PREVIOUSLY REFERENCE PLAT OF SURVEY BY CHRISTOPHER L. COLE, PLS, FOR THE PURPOSES OF GRANTEE AND THE TH IRD- PARTIES ACCESSING THE CONSERVATION EASEMENT AREA AND FULFILLING THEIR RIGHTS AND OBLIGATIONS UNDER THIS CONSERVATION EASEMENT. LCE LCE LCE LCE LCE LCE LCE LCE LCE LCE LCE NAIL (FOUND) NAD83/2011 N: 537,506.05 E: 2,264,810.94 1 0 0 ' C A R O L I N A P O W E R & L I G H T E A S E M E N T D B 2 2 6 0 P G 7 1 8 SHAD Y G R O V E R O A D SR: 1 1 1 8 (20' P A V E D ) NAIL (FOUND) (TIE) NAD83/2011 N: 535,926.32 E: 2,267,547.09 TIE L I N E O N L Y CONSERVATION EASEMENT "1" 294,821 S.F. +/-6.768 AC. CONSERVATION EASEMENT "2" 568,935 S.F. +/-13.061 AC. NOW OR FORMERLY DOUGLAS ALLEN JERNIGAN AILEEN K JERNIGAN PARCEL ID: 2563662469 DEED BOOK: 2832 PAGE: 255 TIE L I N E O N L Y IRON PIPE (FOUND) TH U N D E R S W A M P R O A D (2 0 ' P A V E D ) PROPERTY LINE PER BOUNDARY LINE AGREEMENT DEED BOOK: 3739 PAGE 59 BOUNDARY LINE/LCE FOLLOW THE CENTERLINE OF THE CREEK PLAT BOOK: L PAGE: 62 BOUNDARY LINE/LCE FOLLOW THE CENTERLINE OF THE CREEK PLAT BOOK: L PAGE: 62 DITCH DITCH ST R E A M DITCH LCE LCE PROPERTY LINE PER BOUNDARY LINE AGREEMENT DEED BOOK: 3739 PAGE 59 N 1 5 4 4 ' 3 2 " W 4 0 6 . 2 0 ' N 3 0 2 9 ' 3 9 " W 7 7 9 . 5 6 ' S6 0 3 3 ' 2 0 " E 2 8 9 5 . 8 6 ' S7823'35 " W 1 2 0 0 . 3 1 ' TIE TIE TIE T I E T I E T I E T I E S 2 5 4 7 ' 0 8 " E 3 8 7 . 8 0 ' RW RW RW RW RW RW R W R W N7218 ' 1 4 " E 1 2 6 8 . 2 9 ' S7203 ' 3 5 " W 1 4 1 8 . 9 1 ' N7502 ' 1 1 " E 4 8 5 . 3 8 ' N63 0 3 ' 5 8 " E 4 3 1 . 5 7 ' S63 4 5 ' 5 9 " W 7 3 8 . 8 9 ' L1 L2 L3L4 L5 L6 L7 L8L9 L10L1 1 L12 L13 L14 L15 L16 L17 L18 L19 L20 L21 L22 L23 L24 L25 L 2 6 L27 L28 L2 9 L30 L3 1 L32 L33 L 3 4 L35 L36 L37 L38 L39 L40 L41 L42 L43 L4 4 L45 L46 L47 L4 8 L4 9 L50 L51 L53 L 5 4 L5 5 L56 L5 7 L 5 8 L 5 9 L60 L6 1 L6 2 L 6 3 L1 L2 L3 L4 L5 L6 L7 L8 L9 L10 L11 L12 L13 L14 L15 L16 L17 L18 L19 L20 L21 L22 L23 L24 L25 L26 L27 L28 L29 L30 L31 L32 L33 L34 L35 L36 L37 L38 L39 L40 L41 L42 L43 L44 L45 L46 L47 L48 L49 L50 L51 L52 L53 L54 L55 L56 L57 L58 L59 L60 L61 L62 L63 L64 L 5 2 NOW OR FORMERLY JOSEPH POWELL PARCEL ID: 2563655197 DEED BOOK: 1390 PAGE: 535 NOW OR FORMERLY LILLIE JONES PARCEL ID: 2563541295 DEED BOOK: 1102 PAGE: 531 L64 ACCESS TO CONSERVATION EASEMENT AREA FROM "THUNDER SWAMP ROAD" 30' WIDE ACCESS AREA SURVEYORS NOTES: 1) BASIS OF BEARINGS: NCGS GRID COORDINATES, NAD 83/2011 DATUM. 2) FIELD WORK COMPLETED ON 4/15/2021. 3) ALL DISTANCES ARE HORIZONTAL GRID DISTANCES IN U.S. SURVEY FEET UNLESS OTHERWISE NOTED. 4) THE AREAS SHOWN HEREON WERE COMPUTED USING THE COORDINATE COMPUTATION METHOD. 5)LINES NOT SURVEYED ARE SHOWN AS BROKEN LINES FROM INFORMATION REFERENCED ON THE FACE OF THIS PLAT. 6)PROPERTY SUBJECT TO ALL EASEMENTS AND RESTRICTIONS OF RECORD. 7) FLOODPLAIN ZONE X MAP: 3720256400K DATE: 6/20/18 CID: 370254 PANEL: 2564 8) "ACCESS AREAS" SHOWN ARE NOT EASEMENTS. THIS SURVEY DOES NOT REPRESENT A COMPLETE BOUNDARY SURVEY OF ANY TRACT SHOWN HEREON AND IS ONLY INTENDED TO ILLUSTRATE THE LIMITS OF A CONSERVATION EASEMENT LEGEND PROPERTY LINE (SURVEYED) PROPERTY LINE (NOT SURVEYED) RIGHT OF WAY PL PL RW CONSERVATION EASEMENT "1" REBAR (SET) CERTIFICATE OF SURVEY AND ACCURACY "I, CHRISTOPHER L. COLE, CERTIFY THAT THIS PLAT WAS DRAWN UNDER MY SUPERVISION FROM AN ACTUAL SURVEY MADE UNDER MY SUPERVISION (DEED DESCRIPTION RECORDED IN BOOK 596, PAGE 566 ; THAT THE BOUNDARIES NOT SURVEYED ARE CLEARLY INDICATED AS DRAWN FROM INFORMATION FOUND IN BOOK (AS SHOWN), PAGE (AS SHOWN); THAT THE RATIO OF PRECISION OR POSITIONAL ACCURACY AS CALCULATED IS 1: 15,000; THAT THIS PLAT WAS PREPARED IN ACCORDANCE WITH G.S. 47-30 AS AMENDED AND THAT THE SURVEY IS OF ANOTHER CATEGORY, SUCH AS THE RECOMBINATION OF EXISTING PARCELS, A COURT-ORDERED SURVEY, OR OTHER EXEMPTION OR EXCEPTION TO THE DEFINITION OF SUBDIVISION; (1)CLASS OF SURVEY: CLASS-A (2)POSITIONAL ACCURACY: 0.07' (3)TYPE OF GPS FIELD PROCEDURE: RTK/VRS (4)DATES OF FIELD SURVEY: 3/23/2021 (5)DATUM/EPOCH: NAD83/2011 (6)GEOID MODEL: 12A (7)COMBINED GRID FACTOR(S): 0.99987066 (8)UNITS: U.S. SURVEY FEET WITNESS MY ORIGINAL SIGNATURE, REGISTRATION LICENSE NUMBER AND SEAL THIS 26TH DAY OF APRIL, A.D.,2022. CHRISTOPHER L. COLE REGISTRATION/LICENSE NO. NCPLS L-5008 NC FIRM LICENSE NO. C-4288 CONSERVATION EASEMENTLCE REVIEW OFFICER CERTIFICATION I,REVIEW OFFICER OF WAYNE COUNTY, CERTIFY THAT THE MAP OR PLAT TO WHICH THIS CERTIFICATION IS AFFIXED MEETS ALL STATUARY REQUIREMENTS FOR RECORDING FOR WHICH THE REVIEW OFFICER HAS RESPONSIBILITY AS PROVIDED BY LAW. REVIEW OFFICER WAYNE COUNTY MAPPING DEPARTMENT TOTAL AREA INSIDE OF CONSERVATION EASEMENTS CONSERVATION EASEMENT 1 294,821 S.F. +/- 6.768 AC. CONSERVATION EASEMENT 2 568,935 S.F. +/- 13.061 AC. TOTAL: 863,756 S.F. +/-19.829 AC. OWNER CERTIFICATION I (WE), AS THE OWNER(S) OF THIS PROPERTY, DO HEREBY CERTIFY THAT WE HAVE REVIEWED THIS EASEMENT EXHIBIT AND AGREE TO THE TERMS AND CONDITIONS CONTAINED HEREON, AND BY OUR FREE WILL SIGN AND ACKNOWLEDGE THIS MAP AND THAT IT REPRESENTS THE CONSERVATION EASEMENT AS IT IS INTENDED TO EXIST AND AFFECT THE PROPERTY. WITNESS MY(OUR) HAND AND SEAL, THIS DAY OF , 20 NORTH CAROLINA COUNTY I, A NOTARY PUBLIC OF COUNTY, NORTH CAROLINA, HEREBY CERTIFY THAT THE DUE EXECUTION OF THE FOREGOING CERTIFICATE WAS DULY ACKNOWLEDGED BEFORE ME THIS DAY BY ,FOR THE PURPOSE THEREIN EXPRESSED. WITNESS MY HAND AND NOTARY SEAL THIS DAY OF , 20 NOTARY PUBIC MY COMMISSION EXPIRES CONSERVATION EASEMENT SURVEY OWNERS DOUGLAS ALLEN JERNIGAN AND AILEEN K JERNIGAN BROGDON TOWNSHIP, WAYNE COUNTY, NC PREPARED FOR ENVIRONMENTAL BANC & EXCHANGE, LLC "PROJECT NAME: SHADY GROVE" BA S I S O F B E A R I N G S : NC G R I D , N A D 8 3 ( 2 0 1 1 ) Ascension Land Surveying P.C. Professional Land Surveying & Consulting 116 Williams Road, Mocksville, NC 27028 Phone: (704) 579-7197 Email: surveyor.chris007@gmail.com NC FIRM LICENSE NO: C-4288 NC PLS NO: L-5008 TH U N D E R S W A M P SITE PRELIMINARY NOT FOR SALES, CONVEYANCES OR RECORDATION SHEET 1 OF 1 SCALE: 1-200 MAP: 3/2/2023 BAKER CHAPEL CH. PROJECT: 21-02-11 CONSERVATION EASEMENT "2" SHADY G R O V E POINT NOT SET TOP OF BANKTB 200'0'100'200'400'800' IN FEET 1 INCH = 200 FEET Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 1 NC-CT-FSAC-01080.365396-20-12609DU ALTA COMMITMENT FOR TITLE INSURANCE Issued by CHICAGO TITLE INSURANCE COMPANY NOTICE IMPORTANT - READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and the Commitment Conditions, Chicago Title Insurance Company, a Florida corporation (the "Company"), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I-Requirements have not been met within six (6) months after the Commitment Date, this Commitment terminates and the Company's liability and obligation end. Chicago Title Insurance Company By: Countersigned By: Minette Van Goethem,Authorized Signatory Authorized Officer or Agent Michael J. Nolan, President Attest: Marjorie Nemzura, Secretary Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 2 NC-CT-FSAC-01080.365396-20-12609DU Transaction Identification Data for reference only: Issuing Office:Chicago Title Company, LLC,300 Blackwell Street, Suite 103, Durham, NC 27701 Phone: (919)682-3018 Fax: (919)682-3518 Commitment Number:20-12609DU Property Address:Thunder Swamp Road,Mount Olive, NC 28365 SCHEDULE A 1. Commitment Date: July 29, 2022 at 08:00 AM 2. Policy to be issued: (a)ALTA Owner's Policy (06-17-06) Proposed Insured:Environmental Banc & Exchange, LLC, a Maryland LLC Proposed Policy Amount:$605,400.00 3. The estate or interest in the Land described or referred to in this Commitment is: Conservation Easement 4. Title to the Fee Simple estate or interest in Land is at the Commitment Date vested in: Douglas Allen Jernigan and Aileen K. Jernigan 5. The Land is described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF END OF SCHEDULE A Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 3 NC-CT-FSAC-01080.365396-20-12609DU EXHIBIT "A" Legal Description Lying and being situate in Wayne County, North Carolina, and being more particularly described as follows: TRACT 1: TRACT 2: Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 4 NC-CT-FSAC-01080.365396-20-12609DU SCHEDULE B, PART I Requirements All of the following Requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums, fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. (A deed of trust securing a one-to-four-family residential property must be recorded prior to disbursement of funds. A deed of trust securing non one-to-four family residential property that will be recorded more than 30 days following funding of the loan requires PRIOR approval of Company's underwriting counsel.) a.Conservation Easement from Douglas Allen Jernigan and Aileen K. Jernigan and spouse/their respective spouses, if any, to Environmental Banc & Exchange, LLC, a Maryland LLC. 5.Cancellation, release, termination, discharge, or satisfaction of record of the following: (In the event the lien to be cancelled or satisfied is a line of credit such as a home equity line or future advance loan secured by a deed of trust, attorney to verify as applicable under North Carolina law: (i) delivery of borrower's written request and notice to lender to terminate borrower's account, (ii) payoff in full of all outstanding sums secured by the deed of trust, and (iii) release of the Land from or cancellation of public record of the deed of trust.) a.Deed of Trust to John P. Edwards, Jr., Trustee for CBC National Bank, filed for record March 18, 2016, in Book 3214, page 679, securing $4,850,000.00. [1st position lien] b.Request for Copy of Notice of Sale dated March 18, 2016, recorded in Book 3214, page 761, Wayne County Registry c.Request for Copy of Notice of Sale dated March 18, 2016, recorded in Book 3214, page 762, Wayne County Registry d.Assignment of Leases and Rents in favor of CBC National Bank, recorded in Book 3214, page 737. e.UCC Fixture Filing Financing Statement, recorded in Book 3214, page 756; and UCC Financing Statement Amendment recorded in Book 3563, Page 197, Wayne County Registry. f.Deed of Trust to William H. Weatherspoon, Jr., Trustee for Yadkin Bank, filed for record March 20, 2015, in Book 3145, page 65, securing $3,250,000.00; as affected by that Subordination Agreement dated February 16, 2016, recorded in Book 3214, page 758; ; as affected by that Assignment of Deed of Trust, Assignment of Rents and Security Agreement recorded in Book 3584, Page 758, [2nd position lien] Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 5 NC-CT-FSAC-01080.365396-20-12609DU g.Deed of Trust to Scott C. Gayle, Tuggle, Duggins P.A., Trustee for Clean Blue BIo Farms, LLC, filed for record March 31, 2015, in Book 3147, page 50, securing $789,375.00; as affected by that Subordination Agreement dated March 31, 2015, recorded in Book 3215, page 104, Wayne County Registry. [3rd position lien] h.Federal Tax Liens filed in 17 M 261, 19 M 86, and 21 M 91, all filed in Wayne County Clerk of Courts. 6.Payment of all taxes (including deferred taxes) and assessments (pending or confirmed) which are or may become a lien on the Land and are due OR payable at time of recording of the instrument creating the interest to be insured. DEFERRED TAXES TO BE PAID 2022 TAXES DUE AND PAYABLE AT CLOSING 7.Payment of any owners' association dues, charges, or assessments claimed or due and payable at time of recording of the instrument creating the interest to be insured, whether or not a claim of lien has been filed, if same are or may become a lien superior to the interest to be insured. Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 6 NC-CT-FSAC-01080.365396-20-12609DU 8.Receipt of applicable NCLTA form below (or substantially similar form approved by Company), completed, executed and notarized, as follows: NO RECENT (last 120 days) OR CONTEMPLATED CONSTRUCTION: NCLTA FORM 1 (Owner Affidavit) from every seller (on sale) or borrower (on refinance) who has not contracted for recent or contemplated improvements on the Land or for a construction loan. NOTE: If a contract purchaser has contracted for or is contemplating improvements, see “CONSTRUCTION CONTEMPLATED OR IN PROCESS” below. RECENTLY COMPLETED IMPROVEMENTS: Non-MLA project: NCLTA FORM 2 (Owner/Contractor Affidavit, Lien Waiver, and Indemnity) from every Owner and every Contractor. MLA project: (1) Receipt of proof satisfactory to the Company that prior to closing or prior to first contracting for construction (whichever occurs first), (a) A Lien Agent was designated on the LiensNC.com website, AND (b) The Appointment of Lien Agent was posted at the Land. (2) NCLTA FORM 5 (Owner Affidavit) from every Owner; AND (3) NCLTA FORM 6 (MLA Lien Waiver) from every PLC-MLA. CONSTRUCTION CONTEMPLATED OR IN PROCESS: Non-MLA project: NCLTA FORM 3 (Owner/Contractor Affidavit, Indemnity and Lien Subordination) (for lender coverage only) from every Owner and every Contractor. MLA project: (1) Receipt of proof satisfactory to the Company that prior to closing or prior to first contracting for construction (whichever occurs first): (a) A Lien Agent was designated on the LiensNC.com website, AND (b) The Appointment of Lien Agent was posted at the Land; (2) NCLTA FORM 5 (Owner Affidavit) from every Owner; AND; (3) NCLTA FORM 6 (MLA Lien Waiver) or NCLTA FORM 7 (MLA Subordination of Liens) from every PLC-MLA. NOTE: If a contract purchaser has contracted for or is contemplating improvements prior to closing, see “NO RECENT IMPROVEMENTS” above regarding seller lien affidavits as well. MLA Project - MLA NOT Appointed Prior to Contracting for Labor Services or Materials: In all cases in which an MLA was required but not (timely) appointed, prior approval and terms of coverage (if any) by Company underwriting counsel is required. Applicable Definitions: “Non-MLA Projects”: Improvements are (1) first contracted before April 1, 2013, (2) for a value less than $30,000 OR (3) solely for improvements to owner’s existing residence. All other projects (other than public projects) are “MLA projects”. “Owner” is holder of any interest in the Land, including leasehold owner or contract purchaser. “Potential Lien Claimant” (or “PLC - MLA”) is any person (or entity) entitled to file a claim of lien on real property (herein “Liens”), for providing labor, services, (including design professionals such as surveyors, architects, Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 7 NC-CT-FSAC-01080.365396-20-12609DU engineers and landscape engineers), materials or rental equipment provided for improvements to the Land (herein “Improvements”), pursuant to Article 2 of Chapter 44A of the North Carolina General Statutes AND who either has filed a Notice to Lien Agent, OR was identified in the original Appointment, OR is a Design Professional OR is a PLC whose first furnishing was within 15 days prior to closing OR (for waivers) delivered a claim of lien upon funds on the Owner. “Contractor” Any person or entity who has performed or furnished or has contracted to perform or furnish Labor, Services or Materials pursuant to a contract, either express or implied, with the Owner of real property for the making of an Improvement thereon OR who has delivered a claim of lien upon funds to the Owner. 9.If the transaction involves the purchase of property at foreclosure, the purchase of real estate owned (REO) by a lender/servicer, or the subsequent resale or mortgage of property where the grantor or mortgagor was a purchaser of REO property; verification that the defaulted borrower in the foreclosure proceeding, or anyone claiming by, through or under him, is not occupying or in possession of the foreclosed property. 10.IN THE EVENT THAT, AT TIME OF CLOSING, THE REGISTER OF DEEDS HAS DISCONTINUED ALL RECORDING OR THE ABILITY TO EXAMINE OR UPDATE PUBLIC RECORDS IS PREVENTED BY CORONAVIRUS STATE OF EMERGENCY OFFICE CLOSURES, BUT ALL PARTIES DESIRE TO CLOSE BEFORE DELAYED RECORDING WHEN REGISTER RESUMES RECORDING, CONTACT THE COMPANY FOR FURTHER REQUIREMENTS. 11.For issuance of survey coverage: Company must be provided with a current surveyor's report and survey of the Land bearing the signature and seal of a licensed North Carolina surveyor and prepared in accordance with North Carolina standards for surveys of land or the Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys. 12.SATISFIED The Proposed Policy Amount(s) must be increased to the full value of the estate or interest being insured, and any additional premium must be paid at that time. An Owner’s policy should reflect the purchase price of the Land. A Loan Policy should reflect the loan amount. Proposed Policy Amount(s) will be revised and premiums charged consistent therewith when the final amounts are approved. 13.Verification as of closing of (1) the due organization and good standing of Environmental Banc & Exchange, LLC, a Maryland LLC (herein "Entity") in its state or country of organization and (2) authority of individual(s) executing documents on behalf of Entity to enter into the transaction to be insured on its behalf. END OF SCHEDULE B, PART I Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 8 NC-CT-FSAC-01080.365396-20-12609DU SCHEDULE B, PART II Exceptions THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN. The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I - Requirements are met. 2.Taxes or assessments for the year 2022, and subsequent years, not yet due or payable. 3.All deferred taxes. 4.Any discrepancy, conflict, matters regarding access, shortage in area or boundary lines, encroachment, encumbrance, violation, variation, overlap, setback, easement or claims of easement, riparian right, and title to land within roads, ways, railroads, watercourses, burial grounds, marshes, dredged or filled areas or land below the mean highwater mark or within the bounds of any adjoining body of water, or other adverse circumstance affecting the Title that would be disclosed by a current inspection and accurate and complete land survey of the Land. 5.Rights of others in and to the continuous and uninterrupted flow of the waters bounding or crossing the Land and riparian and/or littoral rights incident to the Land and claims to Land created or lost by accretion, reliction or avulsion resulting from movement of the creeks forming the boundary of the insured Land. 6.[INTENTIONALLY DELETED] Memorandum of Farm Acreage Lease Agreement, dated February 3, 2016, recorded in Book 3226, page 829, Wayne County Registry; as affected by Corrective of Schrivener's Affidavit for Notice of Typographical or Other Minor Error, recorded in Book 3241, page 460, Wayne County Registry. EXPIRED BY ITS TERMS 7.Rights of tenants in possession, as tenants only, under unrecorded leases. 8.The correctness of the square footage/acreage computation contained in the description of the Land is not insured. 9.Terms and provisions set forth in that Conservation Easement recorded in Book ____, page ____. 10.Any right, easement, setback, interest, claim, encroachment, encumbrance, violation, variations or other adverse circumstance affecting the Title disclosed by plat(s) recorded in and Plat Book P, Page 63-B, Wayne County Registry. THE FOLLOWING EXCEPTIONS APPLY TO TRACT 1: Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 9 NC-CT-FSAC-01080.365396-20-12609DU 11.Memorandum of Agreement dated July 7, 2020, by and between Douglas Allen Jernigan and wife, Aileen K. Jernigan and Environmental Banc & Exchange, LLC, recorded in Book 3534, page 501, Wayne County Registry 12.Easement dated December 20, 1991, to Carolina Power and Light Company recorded in Book 1317, page 284, Wayne County Registry. 13.Easement dated July 31, 2003, to Progress Energy Carolinas, Inc. recorded in Book 2125, page 849, Wayne County Registry. 14.Easement dated December 17, 2002, to Carolina Power and Light Company recorded in Book 2260, page 718, Wayne County Registry. 15.Easement dated May 19, 2010, to Carolina Power and Light Company recorded in Book 2784, page 371, Wayne County Registry. 16.THE FOLLOWING EXCEPTIONS APPLY TO TRACT 2: 17.Any right, easement, setback, interest, claim, encroachment, encumbrance, violation, variations or other adverse circumstance affecting the Title disclosed by plat(s) recorded in Plat Cabinet L, Slide 62-D,Wayne County Registry. 18.Memorandum of Agreement dated July 7, 2020, by and between Douglas Allen Jernigan and wife, Aileen K. Jernigan and Environmental Banc & Exchange, LLC, recorded in Book 3534, page 508, Wayne County Registry 19.Easement dated April 4, 1988, to Carolina Power & Light Company recorded in Book 1202, page 492, Wayne County Registry. 20.Easement dated October 23, 1988, to Carolina Power & Light Company recorded in Book 1218, page 594, Wayne County Registry. 21.Easement dated June 21, 2001, to Carolina Power & Light Company recorded in Book 1865, page 463, Wayne County Registry. 22.Easement dated December 17, 2002, to Carolina Power & Light Company recorded in Book 2260, page 714, Wayne County Registry. 23.Easement dated April 25, 2007, to Carolina Power & Light Company recorded in Book 2543, page 204, Wayne County Registry. 24.Boundary Line Agreement recorded in Book 3739, Page 51, Wayne County Registry. END OF SCHEDULE B, PART II Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 10 NC-CT-FSAC-01080.365396-20-12609DU REMARKS NO CLOSING SERVICES INSURANCE: As to the transaction for which this Commitment is issued, the Company does not afford insured closing protection/closing services insurance absent revision of this Commitment to include a statement that coverage is afforded to those parties identified in a separate closing protection letter issued simultaneously with revision of the Commitment. Any closing protection coverage or letter which heretofore may have been issued is hereby rescinded and shall not be effective as to this transaction. Any closing protection letter subsequently issued shall not be effective as to this transaction absent the accompanying requisite revision of this Commitment. END OF REMARKS Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 11 NC-CT-FSAC-01080.365396-20-12609DU COMMITMENT CONDITIONS 1. DEFINITIONS (a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records. (b) "Land": The land described in Schedule A and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law. (d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. (e) "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. (f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment. (g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. (h) "Title": The estate or interest described in Schedule A. 2. If all of the Schedule B, Part I-Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company's liability and obligation end. 3. The Company's liability and obligation is limited by and this Commitment is not valid without: (a) the Notice; (b) the Commitment to Issue Policy; (c) the Commitment Conditions; (d) Schedule A; (e) Schedule B, Part I-Requirements; (f) Schedule B, Part II-Exceptions; and (g) a counter-signature by the Company or its issuing agent that may be in electronic form. 4. COMPANY'S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a) The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured's good faith reliance to: (i) comply with the Schedule B, Part I-Requirements; (ii) eliminate, with the Company's written consent, any Schedule B, Part II-Exceptions; or (iii) acquire the Title or create the Mortgage covered by this Commitment. (b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (d) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. (e) The Company shall not be liable for the content of the Transaction Identification Data, if any. (f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I-Requirements have been met to the satisfaction of the Company. (g) In any event, the Company's liability is limited by the terms and provisions of the Policy. 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. (b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. Chicago Title Insurance Company ALTA Commitment for Title Insurance Commitment Number: 20-12609DU Revision 4 AUGUST 17, 2022 This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance (08-01-16)Printed: 08-17-22 @ 06:37 PM 101046D0102.doc / Updated: 03.28.22 Page 12 NC-CT-FSAC-01080.365396-20-12609DU (c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. (d) The deletion or modification of any Schedule B, Part II-Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. (e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. (f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company's only liability will be under the Policy. 7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company's agent for the purpose of providing closing or settlement services. 8. PRO-FORMA POLICY The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9. ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is Two Million And No/100 Dollars ($2,000,000.00) or less shall be arbitrated at the option of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration. END OF CONDITIONS