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HomeMy WebLinkAbout16021_New Belgium Brewing_recorded NBP_20140311The Brownfields .Agreement between Prospective Developer and DENR is attached hereto as Exhibit A. It sets forth the use that may be made of the Brownfields Property and the measures to be taken to protect public health and the environment, and is required by NCGS § 130A-310.32. The Brownfields Agreem_ent's Exhibit 2 consists of one or more data tables reflecting the concentrations of and other information regarding the Property's regulated substances and contaminants. The plat component of this Notice is recorded at the plat book and page number shown at the top of this documentary component of the Notice. Exhibit B to this Notice is a reduction, to 8 1/2 11 x 11 ", of said plat. The plat shows areas designated by DENR, has been prepared and certified by a professional land surveyor, and complies with NCGS § 130A-310.35(a)'s requirement that the Notice identify: (1) The location and dimensions of the areas of potential environmental concern with respect to permanently surveyed benchmarks. (2) The type, location and quantity of regulated substances and contaminants known to exist on the Brownfields Property. Attached hereto as Exhibit C is a legal description of the Brownfields Property that would be sufficient as a description of the property in an instrument of conveyance. LAND USE RESTRICTIONS NCGS § 130A-310.35(a) also requires that the Notice identify any restrictions on the current and future use of the Brownfields Property that are necessary or useful to maintain the level of protection appropriate for the designated current or future use of the Brownfields Property and that are designated in the Brownfields Agreement. The restrictions shall remain in force in perpetuity unless canceled by the Secretary of DENR (or its successor in function), or his/her designee, after the -hazards have been eliminated, pursuant to NCGS § 130A-310.35(e). All references to DENR shall be understood to include any successor in function. The restrictions are hereby imposed on the Brownfields Property, and are as follows: 1. Unless DENR approves otherwise in advance and in writing, no use may be made of the Property other than for a state of the art craft brewery and offices, a visitor center, wastewater treatment, warehousing, distribution, parking, greenways, employee recreation, event space, walking areas, stream restoration, commercial, or industrial uses. For purposes of this restriction, the following definitions apply: a. "A craft brewery facility" refers to an establishment for the manufacture of beverages, including without limitation beer and ale, together with associated public roadways and related infrastructure. b. "Offices " refers to the provision of business or professional services and other services in support of the craft brewery and related facilities and activities. c. "Warehousing and distribution" refers to the storage of product and dock space for loading and shipment to vendors. 2 d. "Parking" refers to any area designed and designated for temporary accommodation for motor vehicles whether for a fee or as a service. e. "Greenways" refers to linear open space along a natural or constructed corridor, which may be used for pedestrian or bicycle passage. Greenways often link areas of activity, such as parks, cultural features, or historic sites with each other and with populated areas. f. "Employee recreation and walking areas" refers to an area of open or designed space of the development intended for the use and enjoyment of the occupants. g. "Event space" refers to an area used for private, public and community activities (such as, for example, festivals, musical events or shows for employees or the general public), which may include food and beverage service. h. "Stream restoration" refers to the improvement or restoration of the environmental and hydraulic functions of a stream. i. "Commercial" refers to a business enterprise, including, but not limited to, retail sales and food/beverage service. j. "Industrial" refers to the manufacture, assembly, fabrication, or processing of goods or materials. 2. Physical redevelopment of the Property may not occur other than in accord, as determined by DENR, with an EMP, approved in writing by DENR in advance, that is (i) consistent with all the other land use restrictions, (ii) describes redevelopment activities at the Property, and (iii) addresses health, safety and environmental issues that may arise from use of the Property during construction or redevelopment. The EMP shall include: a. soil, sediment, and water management issues, including without limitation those resulting from contamination identified in the Environmental Reports; b. issues related to potential sources of contamination referenced in Exhibit 2 of Exhibit A hereto; and c. contingency plans for addressing newly discovered potential sources of environmental contamination (e.g., tanks, drums, septic drain fields). 3. Within 90 days after the conclusion of physical redevelopment, the then owner of the Property shall provide DENR a report, subject to written DENR approval, on environment-related activities conducted pursuant to the EMP, which report includes a summary and drawings and describes: a. actions taken in accordance with the EMP; b. soil grading and cut and fill actions; c. methodology(ies) employed for field screening, sampling and laboratory analysis of environmental media; d. stockpiling, containerizing, decontaminating, treating, handling, laboratory analysis and ultimate disposition of any soil, groundwater or other materials suspected or confirmed to be contaminated with regulated substances; and e. removal of any contaminated soil, water or other contaminated materials (for example, concrete, demolition debris) from the Property (copies of all legally required manifests shall be included). 4. After conclusion of the redevelopment period referenced in paragraph 2 as determined by DENR, no activity that disturbs soil in the areas designated "Area of Soil Contamination" and 3 "Possible C&D Dumping Area" on the plat component of this Notice, may occur unless and until DENR states in writing, in advance of the proposed activity, that said activity may occur if carried out along with any measures DENR deems necessary to ensure the Property will be suitable for the uses specified in paragraph 1 above while fully protecting public health and the environment, except that PD need not obtain approval if such activity is conducted in accordance with the EMP. Notwithstanding the above, the Prospective Developer may conduct landscaping activities including without limitation mowing, pruning of above-ground vegetation, and landscape plantings (providing total depth of the final soil cover is not compromised and the work does not penetrate into impacted soils), as well as emergency repair of underground infrastructure, provided that DENR shall be given written notice (if only by email) of any such emergency repair no later than the next business day, and that any related assessment and remedial measures required by DENR shall be taken. 5. Soil in the area designated "Area of Possible Lead Impacted Soil Contamination" on the plat component of this Notice, may not be disturbed unless and until DENR approves in writing a plan with a schedule, and its implementation, that requires: a. capping (with asphalt, concrete, stone, brick, terrazzo, roofing, ceramic tile or other impervious material approved in writing in advance by DENR), remediation and/or removal of sufficient soil to satisfy DENR that the Property is suitable for the uses specified in paragraph 1 above and that public health and the environment are fully protected despite any remaining soil contamination, as determined by sampling of each excavation's side walls and bottom; and b. a written report regarding implementation of the plan, submitted no later than 30 days following implementation completion, and correction of any deficiencies DENR identifies in the report or in implementation of the plan within 30 days after DENR provides written notice of any deficiencies. 6. Prior to any use of the Property after physical redevelopment is complete, the area on the plat component of this Notice depicted as "Possible C&D Dumping Area" shall have had a cover installed pursuant to the EMP. 7. Any and all stream restoration activities conducted by the Prospective Developer on the Property shall be implemented in accordance with requirements imposed by the United States Army Corps of Engineers and/or the North Carolina Division of Water Resources. 8. Except for (i) the assessment and use of geothermal wells and applications, and (ii) activities conducted pursuant to the EMP, and unless compliance with this Land Use Restriction is waived in writing by DENR in advance in regard to a particular activity, no activities that encounter, expose, remove or use groundwater (for example, installation of water supply wells, ponds, lakes or swimming pools, or construction or excavation activities that encounter or expose groundwater) may occur on the Property without prior sampling and analysis of groundwater to the written satisfaction of DENR in any areas proposed for such activities, and submittal of the analytical results to DENR. If such results reflect contaminant concentrations that exceed the standards and screening levels applicable to the uses authorized for the Property, the groundwater-related activities proposed may occur only in compliance with any written conditions DENR imposes for the protection of public health and the environment. 9. No building(s) may be constructed on the Property until: 4 a. DENR determines in writiug, based on submittals from the building's proponent, that the building's users, and public health and the environment, would not be at risk from the Property's methane impacted area; or b. methane mitigation meas1,1res and/or a methane monitoring system are designed for such building(s) in accordance with a plan approved in writing by DENR in advance, including. methodology(ies) for demonstrating performance of said measures/monitoring. Prior to building occupancy, such mitigation measures and/or monitoring systems shall have been installed or implemented in accordance with such DENR-approved plan and to the satisfaction of a professional engineer licensed in North Carolina, as evidenced by said engineer's seal on a report that includes photographs and a description of the installation and performance of said measures. 10. Surface waters at the Property may not be used except as approved by DENR in advance and in writing. For the purposes of this provision, the collection an.d management of stormwater consistent with applicable law or rules is not considered "use". Rain, snow and ice on the Property may be collected in a manner that prevents contact with impacted soil and used in accordance with any and all applicable regulations. 11. None of the contaminants known to be present in the environmental media at the Property above unrestricted use standards (whether reflected in applicable law, regulations or guidance as standards, goals or levels), including those listed in Exhibit 2 to Exhibit A hereto, may be used or stored at the Property without the prior written approval of DENR, except: a. in de minimis quantities for cleaning and other routine housekeeping and routine maintenance activities; b. as component constituents of articles, equipment and materials used on the Property, such as in stainless steel or building materials; and/or · c. except as fuel, biofuels or other fluids (either in integrated or separate storage units) customarily used in vehieies, landscaping equipment, or emergency generators. For the avoidance of doubt, this paragraph 11 is not intended to prevent the use, storage or other handling of any particular materials or constituents on the Property. Instead, it is intended to allow DENR to review and approve of methods and procedures for the handling of materials or constituents so as to assist DENR, if necessary, in reasonably distinguishing such materials or constituents from contamination at the Property predating the effective date of Exhibit A hereto. 12. Neither DENR, nor any party conducting environmental assessment or remediation at the Property at the direction of, or pursuant to a permit, order or agreement issued or entered into by DENR, may be denied access to the Property for purposes of conducting such assessment or remediation, which is to be conducted using reasonable efforts to minimize interference with authorized uses of the Property. 13. During January of each year after the year in which this Notice is recorded, the owner of any part of the Property as of January 1st of that year shall submit a notarized Land Use Restrictions Update ("LURU") to DENR, and to the chief public health and environmental official(s) of Buncombe County, certifying that, as of said January 1st, the Notice of Brownfields Property containing these land use restrictions remains recorded at the Buncombe County Register of Deeds office and that the land use 5 restrictions are being complied with, and stating: a. the name, mailing address, telephone and facsimile numbers, and contact person's e-mail address of the owner submitting the LURU if said owner acquired any part of the Property during the previous calendar year; b. the transferee's name, mailing address, telephone and facsimile numbers, and contact person's e-mail address, if said owner transferred any part of the Property during the previous calendar year; and c. whether any methane monitoring and/or mitigation systems installed pursuant to subparagraph 9.b. above are performing as designed, and whether the uses of the ground floors of any buildings containing such monitoring and/or mitigation systems have changed, and, if so, how. For purposes of the land use restrictions set forth above, the DENR point of contact shall be the DENR official referenced in paragraph 36.a. of Exhibit A hereto, at the address stated therein. ENFORCEMENT The above land use restrictions shall be enforceable without regard to lack of privity of estate or contract, lack of benefit to particular land, or lack of any property interest in particular land. The land use restrictions shall be enforced by any owner of the Brownfields Property. The land use restrictions may also be enforced by DENR through the remedies provided in NCGS §BOA, Article 1, Part 2 or by means of a civil action; by any unit of local government having jurisdiction over any part of the Brownfields Property; and by any person eligible for liability protection under the Brownfields Property Reuse Act who will lose liability protection if the restrictions are violated. Any attempt to cancel any or all of this Notice without the approval of the Secretary of DENR (or its successor in function), or his/her delegate, shall be subject to enforcement by DENR to the full extent of the law. Failure by any party required or authorized to enforce any of the above restrictions shall in no event be deemed a waiver of the right to do so thereafter as to the same violation or as to one occurring prior or subsequent thereto. FUTURE SALES, LEASES, CONVEYANCES AND. TRANSFERS When any portion of the Brownfields Property is sold, leased, conveyed or transferred, pursuant to NCGS § 130A-310.35(d) the deed or other instrument of transfer shall contain in the description section, in no smaller type than that used in the body of the deed or instrument, a statement that the Brownfields Property has been classified and, if appropriate, cleaned up as a brownfields property under the Brownfields Property Reuse Act. -f'-IN WITI::{ESS WHEREOF, Prospective Developer has caused this instrument to be duly executed this L day of f?-brwv91_.--, 2014. . New Belgium Brewing Company By: Kimb~~~ Chief Executive Officer 6 EXHIBIT A NORTH CAROLINA DEPART1YIENT OF ENVIRON1YIENT AND NATURAL RESOURCES IN THE MATTER OF: New Belgium Brewing Company UNDER THE AUTHORITY OF THE BROWNFIELDS PROPERTY REUSE ACT OF 1997, N.C.G.S. § BOA-310.30, et seq. Brown.fields Project # 16021-12-11 ) ) ) ) I. INTRODUCTION BROWNFIELDS AGREE1YIENT re: New Belgium Brewing Company 55, 157, 163 Craven Street Asheville, Buncombe County This Brown.fields Agreement ("Agreement") is entered into by the North Carolina Department of Environment and Natural Resources ("DENR") and New Belgium Brewing Company (collectively the "Parties") pursuant to the Brown.fields Property Reuse Act of 1997, N.C.G.S. § BOA-310.30, et seq. (the "Act"). New Belgium Brewing Company is a registered North Carolina company with a mailing address at 327 Hillsborough Street, Raleigh, North Carolina, 27603, with a principal office located at 500 Linden Street, Fort Collins, Colorado, 80524. Ms. Kimberly Beth Jordan is the Chief Executive Officer located at the Fort Collins address. New Belgium Brewing Company proposes to redevelop the property as a state of the art craft brewery and offices, a visitor center, wastewater treatment, warehousing, distribution, parking, greenways, employee recreation, event space, walking areas, and stream restoration, as well as other commercial or industrial uses. A map showing the location of the property which is the subject of this Agreement is attached hereto as Exhibit 1. The Parties agree to undertake all actions required by the terms and conditions of this Agreement. The purpose of this Agreement is to settle and resolve, subject to reservations and BF BFA 12-12-13 DENR limitations contained in Section VIII (Certification), Section IX (DENR's Covenant Not to Sue and Reservation of Rights) and Section X (Prospective Developer's Covenant Not to Sue), the potential liability of New Belgium Brewing Company for-contaminants at the property which is the subject ofthis Agreement. The Parties agree that New Belgium Brewing Company's entry into this Agreement, and the actions undertaken by New Belgium Brewing Company in accordance with the Agreement, do not constitute an admission of any liability by New Belgium Brewing Company. The resolution of this potential liability, in exchange for the benefit New Belgium Brewing Company shall provide to DENR, is in the public interest. II. DEFINITIONS Unless otherwise expressly provided herein, terms used in this Agreement which are defined in the Act or elsewhere in N.C.G.S. 130A, Article 9 shall have the meaning assigned to them in those statutory provisions, including any amendments thereto. 1. "Property" shall mean the Brownfields Property which is the subject of this Agreement, and which is depicted in Exhibit 1 to the Agreement. 2. "Prospective Developer" shall mean New Belgium Brewing Company. III. STATEMENT OF FACTS 3. The Property comprises 19.81 acres. Prospective Developer has committed itself to redevelopment for no uses other than a state of the art craft brewery and offices, a visitor center, wastewater treatment, warehousing, distribution, parking, greenways, employee recreation, event space, walking areas, and stream restoration, as well as other commercial or industrial uses. 4. The Property is bordered to the north by Craven Street and Hazel Mill Road with 2 undeveloped land beyond, to the south by Craven Street beyond which is a residential area, to the east by the French Broad River, and to the west by Craven Street with some businesses including - a former chemical yompany currently a church and an auto repair shop. 5. Prospective Developer obtained or commissioned the following reports, referred to hereinafter as the "Environmental Reports," regarding the Property: Title Prepared by Date of Report Phase I Environmental Site Assessment -Altamont March 16, 2011 WNC Stockyards Site Environmental, Inc. Brownfields Site Assessment -WNC Altamont June 27, 2011 Stockyards Site Environmental, Inc. Phase I Environmental Site Assessment ECS Carolinas, LLP October 12, 2011 Phase I Environmental Site Assessment Hart & Hickman, PC April 9, 2012 Phase II Environmental Site Assessment Hart & Hickman, PC May 11, 2012 Asbestos Survey Hart & Hickman, PC May 18, 2012 Lead-Based Paint Survey Hart & Hickman, PC May 25,2012 Additional Assessment Work Plan Rev 1 Hart & Hickman, PC July 31, 2012 (Brownfields) Summary of TCLP Lead Sampling Letter Hart & Hickman, PC January 18, 2013 Brownfields Assessment Report Hart & Hiclrman, PC October 17, 2012 Monitoring Well and Water Supply Well Hart & Hickman, PC January 23, 2013 Abandonment Letter Initial Abatement Action Report (UST) Hart & Hickman, PC February 5, 2013 Phase I Limited Site Assessment (USTs) Hart & Hickman, PC February 5, 2013 Notice of No Further Action -Risk-Based NCDENR February 7, 2013 Assessment & Corrective Action for Petroleum Underground Storage Tanks Brownfields Receptor Survey Hart & Hickman, PC February 11, 2013 3 Environmental Management Plan (EMP) Hart & Hickman, PC September 20, 2013 6. For purposes ofthis Agreement, DENR relies on the following representations by Prospective Developer as to use and ownership of the Property: a. According to the 1925 Sanborn map the Property is a mix of residential single family homes, an auto repair facility, a couple of stores, and the interior of the property is undeveloped. b. There is a qata gap between 1925 and 1950. The 1950s and 1960s records indicate that Shulimson Brothers Company auto wrecking and junkyard, which includes auto parts sales and a gas station to which a restaurant is added in 1957, are on the southern and central portion of the Property. There was an auto repair and paint shop, tobacco warehouses with additional warehouses added in the 1960s, livestock market/Penland's Auction and gas station on the northern portion of the Property. c. The Property appears similar in the 1970s, with the same uses. d. By the 1980's the southern portion of the Property had all auto wrecking and junkyard activities removed. The onsite building materials, concrete and asphalt were placed in an unpermitted construction and demolition landfill as depicted on the plat component of this Notice, sometime in the early 1990s. e. Bell's Mini Storage began construction and operation on the southern portion of the Property in 2002. f. Activities on the northern portion of the Property included warehousing, livestock boarding, an antique auction, a concrete company/garage, and a restaurant, which were 4 in operation until August 2012. g. Prospective Developer purchased the Property on August 10, 2012. 7. Pertinent environmental information regarding the Property includes the following: a. The Property has impacted soil with benzo(a)pyrene found consistently across the site at levels slightly above industrial use screening values. Limited areas located centrally on the site have elevated levels of arsenic, while a localized exceedance of lead in soil has also been identified. There is localized impact to groundwater in the vicinity of a former gasoline underground storage tank. b. Data tables reflecting the concentrations of and other information regarding the Property's contaminants appear in Exhibit 2 to this Agreement. 8. For purposes of this Agreement DENR relies on Prospective Developer's representations that Prospective Developer's involvement with the Property has been limited to obtaining or commissioning the Environmental Reports, preparing and submitting to DENR a Brownfields Property Application received on May 17, 2012, purchasing the Property on August 10, 2012 and thereafter conducting certain site demolition and preparation work. 9. Prospective Developer has provided DENR with information, or sworn ce1iifications regarding that information on which DENR relies for purposes of this Agreement, sufficient to demonstrate that: a. Prospective Developer and any parent, subsidiary, or other affiliate has substantially complied with federal and state laws, regulations and rules for protection of the environment, and with the other agreements and requirements cited at N.C.G.S. § 130A- 310.32(a)(l ); 5 b. as a result of the implementation ofthis Agreement, the Property will be suitable for the uses specified in the Agreement while fully protecting public health and the environment; c. Prospective Developer's reuse of the Property will produce a public benefit commensurate with the liability protection provided Prospective Developer hereunder; d. Prospective Developer has or can obtain the financial, managerial and technical means to fully implement this Agreement and assure the safe use of the Property; and e. Prospective Developer has complied with all applicable procedural requirements. 10. Prospective Developer has paid DENR a $30,000 "Redevelopment Now" fee, and shall pay a $2,000 fee each time that DENR reviews a material revision to the Environmental Mrutagement Plan (EMP) pursuant to subparagraph 16.b., below, that does not involve changes to the Notice of Brownfields Property or this Agreement; and at least a $3,000 fee each time that DENR reviews a material revision to the EMP pursuant to subparagraph 16.b., below that involves changes to the Notice of Brownfields Property or this Agreement. If actual costs incurred by DENR for reviewing revisions to the EMP that involve changes to tl;le Notice of Brownfields Property or this Agreement exceed the minimum $3,000 fee described in this paragraph, Prospective Developer shall pay the minimum fee plus actual costs to DENR only to . the extent that such costs exceed the minimum $3,000 fee. Other than changes to the EMP as described above, for any change sought to a Brownfield document after it is in effect there shall be an additional fee of $1, 000 plus actual costs to DENR only to the extent that such costs exceed the minimum $1,000 fee. The Parties agree that such fees described above will suffice as 6 the $2,000 fee to seek a brownfields agreement required by N.C.G.S. § l30A-310.39(a)(l), and, within the meaning ofN.C.G.S. § 130A-310.39(a)(2), the full cost to DENR and the North Carolina Department of Justice of all activities related to this Agreement. IV. BENEFIT TO COMMUNITY 11. The redevelopment of the Property proposed herein would provide the following public benefits: a. a return to productive use of the Property; b. a spur to additional community redevelopment, through improved neighborhood appearance and otherwise; c. the creation of approximately 140 jobs directly for New Belgium and approximately 260 jobs in the community between industry vendors and suppliers. The construction of the project is expected to support approximately 350 jobs throughout development; d. an increase in tax revenue for affected jurisdictions; e. improvement of River District access via roadway and bridge updates; f. the addition of greenways, tying existing parks and greenways together; g. additional community event space for the area; and h. "smart growth" through use of land in an already developed area, which avoids development ofland beyond the urban fringe ("greenfields"). V. WORK TO BE PERFORMED 13. Within 30 days after the effective date ofthis Agreement, Prospective Developer shall notify DENR whether there are any remaining groundwater monitoring wells, injection 7 wells, recovery wells, piezometers and other man-made points of groundwater access at the Property and, if so, that it is ready to abandon such man-made access points in accordance with Subchapter 2C of Title 15A of the North Carolina Administrative Code, with the exception of Division of Water Quality approved geothermal well(s). Unless DENR notifies Prospective Developer within 10 days of receiving such notification to refrain from such abandonment, Prospective Developer shall, on a schedule acceptable to DENR, effect said abandonment and, within 30 days after doing so, provide DENR a report, subject to DENR approval, setting forth the procedures and results. ' 14. Prospective Developer shall consider the potential for applying sustainability principles at the Property. Such principles may include, but are not required to include, the nine (9) areas incorporated into the U.S. Green Building Council Leadership in Energy and Environmental Design certification progran1 (Sustainable Sites, Water Efficiency, Energy & Atmosphere, Materials & Resources, Indoor Environmental Quality, Locations & Linkages, Awareness & Education, Innovation in Design, and Regional Priority) or a similar program. 1°5. Based on the information in the Environmental Reports, and subject to imposition of and compliance with the land use restrictions set forth below, and subject to Section IX ofthis Agreement (DENR's Covenant Not to Sue and Reservation of Rights), DENR is not requiring Prospective Developer to perform any active remediation at the Property other than remediation that may be required pursuant to the DENR-approved Environmental Management Plan (EMP) required by this Section. 16. By way of the Notice of Brownfields Property referenced below in paragraph 21, Prospective Developer shall impose the following land use restrictions under the Act, running 8 with the land, to make the Property suitable for the uses specified in this Agreement while fully protecting public health and the environment, instead of remediation to unrestricted use standards. All references to DENR shall be understood to include any successor in function. a. Unless DENR approves otherwise in advance and in writing, no use may be made of the Property other than for a state of the art craft brewery and offices, a visitor center, wastewater treatment, warehousing, distribution, parking, greenways, employee recreation, event space, walking areas, stream restoration, commercial, or industrial uses. For purposes of this restriction, the following definitions apply: i. "A craft brewery facility" refers to an establishment for the manufacture of beverages, including without limitation beer and ale, together with associated public roadways and related infrastructure. ii. "Offices " refers to the provision of business or professional services and other services in support of the craft brewery and related facilities and activities. iii. "Warehousing and distribution" refers to the storage of product and dock space for loading and shipment to vendors. iv. "Parking" refers to any area designed and designated for temporary accommodation for motor vehicles whether for a fee or as a service. v. "Greenways" refers to linear open space along a natural or constructed corridor, which may be used for pedestrian or bicycle passage. Greenways often link areas of activity, such as parks, cultural features, or historic sites with each other and with populated areas. vi. "Employee recreation and walking areas" refers to an area of open or 9 designed space of the development intended for the use and enjoyment of the occupants. vii. "Event space" refers to an area used for private, public and community activities (such as, for example, festivals, musical events or shows for employees or the general public), which may include food and beverage service. viii. "Stream restoration" refers to the improvement or.restoration of the environmental and hydraulic functions of a stream. ix. "Commercial" refers to a business enterprise, including, but not limited to, retail sales and food/beverage service. x. "Industrial" refers to the manufacture, assembly, fabrication, or processing of goods or materials. b. Physical redevelopment of the Property may not occur other than in accord, as determined by DENR, with an EMP, approved in writing by DENR in advance, that is (i) consistent with all the other land use restrictions, (ii) describes redevelopment activities at the Property, and (iii) addresses health, safety and environmental issues that may arise from use of the Property during construction or redevelopment. The EMP shall include: i. soil, sediment, and water management issues, including without limitation those resulting from contamination identified in the Environmental Rep01is; ii. issues related to potential sources of contamination referenced in Exhibit 2 of this agreement; and iii. contingency plans for addressing newly discovered potential sources of environmental contamination (e.g., tanks, drums, septic drain fields). c. Within 90 days after the conclusion of physical redevelopment, the then owner 10 of the Property shall provide DENR a report, subject to written DENR approval, on environment-related activities conducted pursuant to the EMP, which report includes a summary and drawings and describes: i. actions taken in accordance with the EMP; ii. soil grading and cut and fill actions; iii. methodology(ies) employed for field screening, sampling and laboratory analysis of environmental media; iv. stockpiling, containerizing, decontaminating, treating, handling, laboratory analysis and ultimate disposition of any soil, groundwater or other materials suspected or confirmed to be contaminated with regulated substances; and v. removal of any contaminated soil, water or other contaminated materials (for example, concrete, demolition debris) from the Property (copies of all legally required manifests shall be included). d. After conclusion of the redevelopment period referenced in subparagraph 16.b., as determined by DENR, no activity that disturbs soil in the areas designated "Area of Soil Contamination" and "Possible C&D Dumping Area" on the plat component of the Notice referenced in paragraph 21 below, may occur unless and until DENR states in writing, in advance of the proposed activity, that said activity may occur if carried out along with any measures DENR deems necessary to ensure the Property will be suitable for the uses specified in subparagraph 16.a. above while fully protecting public health and the environment, except that PD need not obtain approval if such activity is conducted in accordance with the EMP. Not\vithstanding the above, the Prospective Developer may conduct landscaping activities 11 including without limitation mowing, pruning of above-ground vegetation, and landscape plantings (providing total depth of the final soil cover is not compromised and the work does not penetrate into impacted soils), as well as emergency repair of underground infrastructure, provided that DENR shall be given written notice (if only by email) of any such emergency repair no later than the next business day, and that any related assessment and remedial measures required by DENR shall be taken. e. Soil in the area designated "Area of Possible Lead Impacted Soil Contamination" on the plat component of the Notice referenced in paragraph 21 below, may not be disturbed unless and until DENR approves in writing a plan with a schedule, and its implementation, that requires: i. capping (with asphalt, concrete, stone, brick, terrazzo, roofing, ceramic . tile or other impervious material approved in writing in advance by DENR), remediation and/or removal of sufficient soil to satisfy DENR that the Property is suitable for the uses specified in subparagraph 16.a. above and that public health and the environment are fully protected despite any remaining soil contamination, as detennined by sampling of each excavation's side walls and bottom; and ii. a written report regarding implementation of the plan, submitted no later than 30 days following implementation completion, and correction of any deficiencies DENR identifies in the report or in implementation of the plan within 30 days after DENR provides written notice of any deficiencies. f. Prior to any use of the Property after physical redevelopment is complete, the area on the plat component of the Notice referenced in paragraph 21 below depicted as "Possible 12 C&D Dumping Area" shall have had a cover installed pursuant to the EMP. g. Any and all stream restoration activities conducted by the Prospective Developer on the Property shall be implemented in accordance with requirements imposed by the United States Army Corps of Engineers and/or the North Carolina Division of Water Quality. h. Except for (i) the assessment and use of geothermal wells and applications, and (ii) activities conducted pursuant to the EMP, and unless compliance with this Land Use Restriction is waived in writing by DBNR in advance in regard to a particular activity, no activities that encounter, expose, remove or use groundwater (for example, installation of water supply wells, ponds, lakes or swimming pools, or construction or excavation activities that encounter or expose groundwater) may occur on the Property without prior sampling and analysis of groundwater to the written satisfaction of DENR in any areas proposed for such activities, and submittal of the analytical results to DENR. If such results reflect contaminant concentrations that exceed the standards and screening levels applicable to the uses authorized for the Property, the groundwater-related activities proposed may occur only in compliance with any written conditions DENR imposes for the protection of public health and the environment. L No building(s) may be constructed on the Property until: i. DENR determines in writing, based on submittals from the building's proponent, that the building's users, and public health and the environment, would not be at risk from the Property's methane impacted area; or ii. methane mitigation measures and/or a methane monitoring system are designed for such building(s) in accordance with a plan approved in writing by DENR in advance, including methodology(ies) for demonstrating performance of said 13 measures/monitoring. Prior to building occupancy, such mitigation measures and/or monitoring systems shall have been installed or implemented in accordance with such DENR-approved plan and to the satisfaction of a professional engineer licensed in North Carolina, as evidenced by said engineer's seal on a report that includes photographs and a description of the installation and performance of said measures. j. Surface waters at the Property may not be used except as approved by DENR in advance and in writing. For the purposes ofthis agreement, the collection and management of stormwater consistent with applicable law or rules is not considered "use". Rain, snow and ice on the Property may be collected in a manner that prevents contact with impacted soil and used in accordance with any and all applicable regulations. k. None of the contaminants known to be present in the environmental media at the Property above unrestricted use standards (whether reflected in applicable law, regulations or guidance as standards, goals or levels), including those listed in Exhibit 2, may be used or stored at the Property without the prior written approval of DENR, except: i. in de minimis quantities for cleaning and other routine housekeeping and routine maintenance activities; ii. as component constituents of articles, equipment and materials used on the Property, such as in stainless steel or building materials; and/or iii. except as fuel, biofuels or other fluids (either in integrated or separate storage units) customarily used in vehicles, landscaping equipment, or emergency generators. For the avoidance of doubt, this paragraph 16.k. is not intended to prevent the use, storage or other handling of any particular materials or constituents on the Property. Instead, it is 14 intended to allow DENR to review and approve of methods and procedures for the handling of materials or constituents so as to assist DENR, if necessary, in reasonably distinguishing such materials or constituents from contamination at the Property predating the effective date of this Agreement. 1. Neither DENR, nor any party conducting environmental assessment or remediation at the Property at the direction of, or pursuant to a permit, order or agreement issued or entered into by DENR, may be denied access to the Property for purposes of conducting such assessment or remediation, which is to be conducted using reasonable efforts to minimize interference with authorized uses of the Property. m. During January of each year after the year in which the Notice referenced below in paragraph 21 is recorded, the owner of any part of the Property as of January 1st of that year shall submit a notarized Land Use Restrictions Update ("LURU") to DENR, and to the chief public health and environmental official(s) of Buncombe County, certifying that, as of said January 1st, the Notice of Brownfields Property containing these land use restrictions remains recorded at the Buncombe County Register of Deeds office and that the land use restrictions are being complied with, and stating: i. the name, mailing address, telephone and facsimile numbers, and contact person's e-mail address of the owner submitting the LURU if said owner acquired any part of the Property during the previous calendar year; ii. the transferee's name, mailing address, telephone and facsimile numbers, and contact person's e-mail address, if said owner transferred any part of the Property during the previous calendar year; and 15 iii. whether any methane monitoring and/or mitigation systems installed pursuant to subparagraph 16.i. above are performing as designed, and whether the uses of the ground floors of any buildings containing such monitoring and/or mitigation systems have changed, and, if so, how. 17. The desired result of the above-referenced land use restrictions is to make the Property suitable for the uses specified in the Agreement while fully protecting public health and the environment. 18. The guidelines, including parameters, principles and policies within which the desired results are to be accomplished are, as to field procedures and laboratory testing, the Guidelines of the Inactive Hazardous Sites Branch of DENR's Superfund Section, as embodied in their most current version. 19. The consequence of achieving the desired results will be that the property will be suitable for the uses specified in the Agreement while fully protecting public health and the environment. The consequence of not achieving the desired results will be that modifications to land use restrictions and/or remediation in some form may be necessary to fully protect public health and/or the environment. VI. ACCESS/NOTICE TO SUCCESSORS IN INTEREST 20. In addition to providing access to the Property pursuant to subparagraph 16.1. above, Prospective Developer shall provide DENR, its authorized officers, employees, representatives, and all other persons performing response actions under DENR oversight, access at all reasonable times to other property controlled by Prospective Developer in connection with the performance or oversight of any response actions at the Property under applicable law, which 16 access is to be conducted on reasonable prior notice except in emergencies and using reasonable efforts to avoid and minimize interference with authorized uses of such other property. While Prospective Developer owns the Property, DENR shall provide reasonable notice to Prospective Developer of the timing of any response actions to be undertaken by or under the oversight of DENR at the Property. Except as may be set forth in the Agreement, DENR retains all of its authorities and rights, including enforcement authorities related thereto, under the Act and any other applicable statute or regulation, including any amendments thereto. 21. DENR has approved, pursuant to N.C.G.S. § 130A-310.35, a Notice ofBrownfields Property for the Property containing, inter alia, the land use restrictions set forth in Section V (Work to Be Performed) of this Agreement and a survey plat of the Property. Pursuant to N.C.G.S. § 130A-310.35(b), within 15 days of the effective date of this Agreement Prospective Developer shall file the Notice of Brownfields Property in the Buncombe County, North Carolina, Register of Deeds' office. Within three (3) days thereafter, Prospective Developer shall furnish DENR a copy of the documentary component of the Notice containing a certification by the Register of Deeds as to the Book and Page numbers where both the documentary and plat components of the Notice are recorded, and a copy of the plat with notations indicating its recordation. 22. This Agreement shall be attached as Exhibit A to the Notice of Brownfields Property. Subsequent to recordation of said Notice, any deed or other instrument conveying an interest in the Property shall contain the following notice: "The property which is the subject of this instrument is subject to the Brownfields Agreement attached as Exhibit A to the Notice of Brownfields Property recorded in the Buncombe County land records, Book.5/£7D, Page [JJj." 17 A copy of any such instrument shall be sent to the persons listed in Section XV (Notices and Submissions), provided that: (i) :financial figures related to the conveyance may be redacted, and (ii) such disclosure may be made subject to the confidentiality and trade secret provisions of the North Carolina Public Records Law (to the extent applicable). 23. The Prospective Developer shall ensure that a copy of this Agreement is provided to any current lessee or sub lessee on the Property within seven days of the effective date of this Agreement and shall ensure that, to the extent it can legally do so, any subsequent leases, subleases, assignments or transfers of the Property or an interest in the Property are consistent with this Section (Access/Notice To Successors In Interest), Section V (Work to be Performed) and Section XI (Parties Bound) of this Agreement. VII. DUE CARE/COOPERATION 24. The Prospective Developer shall exercise due care at the Property with respect to the manner in which regulated substances are handled at the Property and shall comply with all applicable local, State, and federal laws and regulations. The Prospective Developer agrees to cooperate fully with any remediation of the Property by DENR and further agrees not to interfere with any such remediation. DENR agrees, consistent with its responsibilities under applicable law, to use reasonable efforts to avoid and minimize any interference with the Prospective Developer's operations by any such remediation. In the event the Prospective Developer becomes aware of any action or occurrence which causes or threatens a release of contaminants at or from the Property, the Prospective Developer shall immediately take all appropriate action to prevent, abate, or minimize such release or threat of release, and shall comply with any applicable notification requirements under N.C.G.S. 130A-3 l 0.1 and 143-215.85, Section 103 of 18 CERCLA, 42 U.S.C. § 9603, and/or any other law. In addition, the Prospective Developer shall immediately notify the DENR official referenced in paragraph 36.a. below of any such required notifications. VIII. CERTIFICATION 25. By entering into this Agreement, the Prospective Developer ce1iifies that, without DENR approval, it will make no use of the Property other than for a state of the art craft brewery and the other activities set forth in subparagraph 16.a. Prospective Developer also certifies that to the best of its knowledge and belief it has fully and accurately disclosed to DENR all information known to Prospective Developer and all information in the possession or control of its officers, directors, employees, contractors and agents which relates in any way to any past use of regulated substances or known contaminants at the Property and to its qualification for this Agreement, including the requirement that it not have caused or contributed to the contamination at the Property. IX. DENR'S COVENANT NOT TO SUE AND RESERVATION OF RIGHTS 26. Unless any of the following apply, Prospective Developer shall not be liable to DENR, and DENR covenants not to sue Prospective Developer, for remediation of the Property except as specified in this Agreement: a. The Prospective Developer fails to comply with this Agreement. b. The activities conducted on the Property by or under the control or direction of the Prospective Developer increase the risk of harm to public health or the environment, in which case Prospective Developer shall be liable for remediation of the areas of the Property, remediation of which is required by this Agreement, to the extent necessary to eliminate such 19 risk of harm to public health or the environment. c. A land use restriction set out in the Notice of Brownfields Property required under N.C.G.S. 130A-3 l 0.35 is violated while the Prospective Developer owns the Property, in which case the Prospective Developer shall be responsible for remediation of the Property to unrestricted use standaTds. d. The Prospective Developer knowingly or recklessly provided false information that formed a basis for this Agreement or knowingly or recklessly offers false information to demonstrate compliance with this Agreement or fails to disclose relevant information about contamination at the Property. e. New information indicates the existence of previously unreported contaminants or an area of previously unreported contamination on or associated with the Property that has not been remediated to unrestricted use standards, unless this Agreement is amended to include any previously unreported contaminants and any additional areas of contamination. If this Agreement sets maximum concentrations for contaminants, and new information indicates the existence of previously unreported areas of these contaminants, further remediation shall be required only if the areas of previously unreported contaminants raise the risk of the contamination to public health or the environment to a level less protective of public health and the enviromnent than that required by this Agreement. f. The level of risk to public health or the environment from contaminants is unacceptable at or in the vicinity of the Property due to changes in exposure conditions, including (i) a change in land use that increases the probability of exposure to contaminants at or in the vicinity of the Property or (ii) the failure of remediation to mitigate risks to the extent 20 required to make the Property fully protective of public health and the environment as planned in this Agreement. g. The Department obtains new information about a contaminant associated with the Property or exposures at or around the Property that raises the risk to public health or the environment associated with the Property beyond an acceptable range and in a manner or to a degree not anticipated in this Agreement. h. The Prospective Developer fails to file a timely and proper Notice of Brownfields Property under N.C.G.S. BOA-310.35. 27. Except as may be provided herein, DENR reserves its rights against Prospective Developer as to liabilities beyond the scope of the Act. 28. This Agreement does not waive any applicable requirement to obtain a pennit, license or certification, or to comply with any and all other applicable law, including the North Carolina Environmental Policy Act, N.C.G.S. § 113A-l, et seq. 29. Consistent with N.C.G.S. § 130A-310.33, the liability protections provided herein, and any statutory limitations in paragraphs 26 through 28 above, apply to all of the persons listed in N.C.G.S. § BOA-310.33, including future owners of the property, to the same extent as prospective developer, so long as these persons are not otherwise potentially responsible parties or parents, subsidiaries, or affiliates. of potentially responsible parties. X. PROSPECTNE DEVELOPER'S COVENANT NOT TO SUE 30. In consideration ofDENR's Covenant Not To Sue in Section IX ofthis Agreement and in recognition of the absolute State immunity provided in N.C.G.S. § 130A-310.37(b), the Prospective Developer hereby covenants not to sue and not to assert any claims or causes of 21 action against DENR, its authorized officers, employees, or representatives with respect to any action implementing the Act, including negotiating, entering, monitoring or enforcing this Agreement or the above-referenced Notice ofBrownfields Property. XI. PARTIES BOUND 31. This Agreement shall apply to and be binding upon DENR, and on the Prospective Developer, its officers, directors, employees, and agents. Each Party's signatory to this Agreement represents that she or he is fully authorized to enter into the terms and conditions of this Agreement and to legally bind the Party for whom she or he signs. XII. DISCLAIMER 32. This Agreement reflects DENR's evaluation of the risks to public health and the environment and the fitness of the Property for a particular use only with respect to the environmental conditions addressed by this Agreement and only to the extent provided herein. Further, this Agreement is not a waiver of Prospective Developer's duty to seek applicable permits or of the provisions ofN.C.G.S. § BOA-310.37. 33. Except for the Land Use Restrictions set forth in paragraph 16.a. above and N.C.G.S. § 130A-310.33(a)(l)-(5)'s provision of the Act's liability protection to certain persons to the same extent as to a prospective developer, no rights, benefits or obligations conferred or imposed upon Prospective Developer under this Agreement are conferred or imposed upon any other person. XIII. DOCUMENT RETENTION 34. The Prospective Developer agrees to retain and make available to DENR all business <µld operating records, contracts, site studies and investigations, and documents relating to any 22 work to be performed pursuant to this Agreement, environmental conditions at the Property, and compliance with the Land Use Restrictions set forth in paragraph 16. above, for six (6) years following the effective date of this Agreement or when the Prospective Developer takes title to the Property, whichever date is later, unless otherwise agreed to in writing by the Parties. At the end of six (6) years, the Prospective Developer shall notify DENR of the location of such documents and shall provide DENR with ah opportunity to copy any documents at the expense of DENR. To the extent DENR retains any copies of such documents, Prospective Developer retains all rights it then may have to seek protection from disclosure of such documents as confidential business information. XIV. PAYMENT OF ENFORCEMENT COSTS 35. If the Prospective Developer fails to comply with the terms of this Agreement, including, but not limited to, the provisions of Section V (Work to be Performed), it shall be liable for all litigation and other enforcement costs incurred by DENR to enforce this Agreement or otherwise obtain compliance. XV. NOTICES AND SUBMISSIONS 36. Unless otherwise required by DENR or a Party notifies the other Party in writing of a change in contact information, all notices and submissions pursuant to this Agreement shall be sent by prepaid first class U.S. mail, as follows: a. forDENR: Tracy Wahl N.C. Division of Waste Management Brownfields Program Mail Service Center 1646 Raleigh, NC 27699-1646 23 b. for Prospective Developer: New Belgium Brewing Company Attn: Nick Ampe, CHMM 500 Linden Street Fort Collins, CO 80524 Notices and submissions sent by prepaid first class U.S. mail shall be effective on the third day following postmarking. Notices and submissions sent by hand or by other means affording written evidence of date of receipt shall be effective on such date. XVI. EFFECTIVEDATE 3 7. This Agreement shall become effective on the date the Prospective Developer signs it, after receiving it, signed, from DENR. Prospective Developer shall sign the Agreement within seven (7) days following such receipt. XVII. TERMINATION OF CERTAIN PROVISIONS 38. If any Party believes that any or all of the obligations under Section VI (Access/Notice to Successors in Interest) are no longer necessary to ensure compliance with the requirements of the Agreement, that Party may request in writing that the other Party agree to terminate the provision(s) establishing such obligations; provided, however, that the provision(s) in question shall continue in force unless and until the Party requesting such termination receives written agreement from the other Party to terminate such provision(s). XVIII. CONTRIBUTION PROTECTION 39. With regard to claims for contribution against Prospective Developer in relation to the subject matter of this Agreement, Prospective Developer is entitled to protection from such 24 claims to the extent provided by N.C.G.S. § 130A-310.37(a)(5)-(6). The subject matter of this Agreement is all remediation taken or to be taken and response costs incurred or to be incurred by DENR or any other person in relation to the Property. 40. The Prospective Developer agrees that, with respect to any suit or claim for contribution brought by it in relation to the subject matter of this Agreement, it will notify DENR in writing no later than 60 days prior to the initiation of such suit or claim. 41. The Prospective Developer also agrees that, with respect to any suit or claim for contribution brought against it in relation to the subject matter of this Agreement, it will notify DENR in \vriting within 10 days of service of the complaint on it. XIX. PUBLIC COMMENT 42. This Agreement shall be subject to a public comment period of at least 30 days starting the day after the last to occur of the following: publication of the approved summary of the Notice of Intent to Redevelop a Brownfields Property required by N.C.G.S. § 130A-310.34 in a newspaper of general circulation serving the area in which the Property is located, conspicuous posting of a copy of said summary at the Property, and mailing or delivery of a copy of the summary to each owner of property contiguous to the Property. After expiration of that period, or following a public meeting ifDENR holds one pursuant to N.C.G.S. § 130A- 310.34(c), DENR may modify or withdraw its consent to this Agreement if comments received disclose facts or considerations which indicate that this Agreement is inappropriate, improper or inadequate. 25 Exhibit 2 The most recent environmental sampling at the Property reported in the Environmental Reports occurred in November of 2012. The following tables set forth, for contaminants present at the Property above unrestricted use standards, the maximum concentration found at each sample location and the applicable standard: Groundwater contaminants (in micrograms per liter, the equivalent of parts per billion), the standards for which are contained in Title 15A of the North Carolina Administrative Code, Subchapter 2L, Rule .0202 (April 1, 2013 version): Groundwater Sample Date of Most Maximum Standard Contaminant Location Recent Concentration (µg/L) Sampling (µg/L) Benzene HH-TW-ldup 3/22/2012 301 1.0 Naphthalene HH-TW-ldup 3/22/2012 108 6.0 n-Propylbenzene HH-TW-ldup 3/22/2012 80 70 Toluene HH-TW-ldup 3/22/2012 1520 600 1,2,4-HH-TW-ldup 3/22/2012 537 400 Trimethylbenzene Xylenes HH-TW-ldup 3/22/2012 1730 500 1-Methylnaphthalene HH-TW-1 3/22/2012 14.9 1.0 2-Methylnaphthalene HH-TW-1 3/22/2012 38.4 30 Arsenic 1 MW-1 5/11/2011 20.1 10 HH-TW-7 3/23/2012 16.9 HH-TW-8 3/23/2012 11.0 Cadmium1 MW-1 5/11/2011 17.2 2 Chromium1 MW-1 5/11/2011 325 10 MW-2 5/11/2011 26.3 MW-4 5/11/2011 30.7 HH-TW-7 3/23/2012 60.2 1 HH-TW-8 3/23/2012 44.9 Lead1 MW-1 5/11/2011 90.6 15 MW-2 5/11/2011 16.5 HH-TW-7 3/23/2012 1,930 HH-TW-8 3/23/2012 32.7 Manganese1 MW-1 5/11/2011 6,520 50 MW-2 5/11/2011 3,840 MW-3 5/11/2011 578 MW-4 5/11/2011 601 MW-5 5/11/2011 577 HH-TW-3 3/23/2012 471 HH-TW-4 3/23/2012 275 HH-TW-7 3/23/2012 3,560 HH-TW-8 3/23/2012 2,020 Nickel1 MW-1 5/11/2011 133 100 z· i me HH-TW-7 3/23/2012 5,770 1,000 Notes: 1) Metals concentrations in groundwater may be naturally occurring. 2 Soil contaminants (in milligrams per kilogram, the equivalent of parts per million), the screening levels for which are derived using the Preliminary Industrial Health-Based Soil Remediation Goals of the Inactive Hazardous Sites Branch of DENR's Superfund Section (February 2013 version): Soil Sample Depth Date of Maximum Industrial Contaminant Location (ft) Maximum Concentration Screening Concentration above Level1'2 Sampling Industrial Use (mg/kg) Screening Level (mg/kg) Benzo( a )pyrene HH-LSA-2 2-4 11/15/2012 1.66 0.21 NSW (4') 4 11/15/2012 0.667 HH-SB-23 1-3 3/22/2012 0.376 1HH-SB-7 29-31 3/20/2012 1.40 HH-SB-8 0-2 3/20/2012 0.333 HH-SB-10 0-2 3/20/2012 0.266 HH-SB-10 14-16 3/20/2012 0.884 Arsenic HW-SB-1 0-1 5/3/2011 2.3 1.6 HW-SB-2 1-1.5 5/3/2011 . 4.9 HW.-SB-3 0-1 5/3/2011 6.0 MW-3-SB-07 5-7 5/9/2011 2.5 HH-SB-3 1-2 3/19/2012 5.79 HH-SB-7 29-31 3/20/2012 7.66 HH-SB-27 0-2 3/22/2012 14.9 Lead HW-SB-2 1-1.5 5/3/2011 2,220 800 HH-SB-29 0-2 8/8/2012 962 'screening levels displayed for non-carcinogens are for a hazard quotient equal to 0.2. Screening levels displayed for carcinogens are for a l .OE-6 lifetime incremental cancer risk. 3 EXHIBIT C Description of Craven Street Property Being a 19.81± acre tract of land within the City of Asheville, Buncombe County, North Carolina and being more particularly described as follows: Beginning on rebar with plastic cap stamped: "CIP AR-JN GLE" 0 .2 feet below the asphalt and in the southern margin of Craven Street, being the northernmost comer of property described as Tract 1 in Deed Book 4190, Page 963 of the Buncombe County Register of Deeds Office, said rebar being located North 82°22'08" East 4775.62 feet from North Carolina Geodetic Survey monument "Long John", having N.C. Grid, NAD'83 (2007) coordinates of: N 687826.7379 feet and E 933277.7430 feet, said rebar having N.C. Grid, NAD' 83 (2007) coordinates of: N 688460.80 feet and E 938010.12 feet, thence with said margin of Craven Street the following two courses and distances: North 71°28'20" East 50.57 feet to a rebar 0.2 feet below the asphalt with plastic cap stamped: "McMahan"; thence North 71°26' 16" East 64.37 feet to a nail set flush with the surface of the asphalt; thence leaving said margin South 18°32' 49" East 28.12 feet to a five-eighths inch rebar with plastic cap stamped: "ED HOLMES & ASSOC."; thence North 71°26'24" East 60.90 feet to a point on the western bank of the French Broad River; thence with said bank the following twenty-nine courses and distances: thence South 62°30'00" East 23.67 feet to an unmarked point, hereinafter called: point; thence South 20°02'41" East 68.97 feet to a point; thence South 31°05'41" East 65.30 feet to a point; thence South 36° 43 '40" East 18 .11 feet to a point; thence South 22°55'28" East 45.65 feet to a point; thence South 23°19'05" East 36.63 feet to a point; thence South 28°24' 44" East 25.84 feet to a point; thence South 28°52' 56" East 26.78 feet to a point; thence South 18°18'38" West 10.22 feet to a point; thence South 24°03'02" East 31.28 feet to a point; thence South 36°12'44" East 30.70 feet to a rebar with plastic cap stamped: "CIPAR- INGLE"; thence South 33°19'22" East 14.44 feet to a point; thence South 24°57'51" East 39.40 feet to a point; thence South 32°20' 13" East 50.31 feet to a point; . thence South 21°49'03" East 51.58 feet to a point; thence South 47°41 '53" East 33.37 feet to a point; thence South 10°02'43" East 19.13 feet to a point; thence South 36°55'04" East 87.93 feet to a point; thence South 39°32'20" East 86.18 feet to .a point; thence South 36°42'06" East 199.44 feet to a point; thence South 41°0 l' 37" East 52.20 feet to a point; thence South 27°24' 18" East 53.44 feet to a point; thence South 49°16'37" East 69.28 feet to a point; thence South 37°10'09" East 149.85 feet to a point; thence South 24°37'38" East 65.39 feet to a point; thence South 48°47' 45" East 45.89 feet to a point; thence South 40°32' 10" East 38.27 feet to a point; thence South 33°09' 40" East 117 .01 feet to a point; thence South 33°3 l '39" East 71.24 feet to a rebar with plastic cap stamped: "MORGAN'', hereinafter called: "Morgan rebar"; thence leaving said bank South 60°59'08" West 151.25 feet to nail in the eastern margin of Craven Street; thence with said margin the following thirty-four courses and distances: North 43°17' 56" West 71.62 feet to a Morgan rebar; thence North 64°29'38" West 54.67 feet to a Morgan rebar; thence North 89°21 '01" West 44.47 feet to a Morgan rebar; thence South 81°45'02" West 41.16 feet to a Morgan rebar; thence South 76°20'47"West 86.41 feet to aMorganrebar; thence South 87°04'57" West 39.10 feet to a Morgan rebar; thence North 79°46'29" West 43.57 feet to a rebar 0.3 feet below asphalt; thence North 70°05'59" West 71.77 feet to a rebar 0.4 feet below asphalt; North 65°51 '55" West 298.26 feet to a rebar 0.5 feet below asphalt, said rebar being located South 83°46'51" East 5008.77 feet fromNorth Carolina Geodetic Survey monument "Long John", previously mentioned, said rebar having N. C. Grid, NAD'83 (2007) coordinates of: N 687284.23 feet and E 938256.04 feet; thence North 59°29'52" West 34.52 feet to a point; thence North 52°45'27" West 40.04 feet to a point; thence North 43°28'37" West 40.60 feet to a point; thence North 37°36'00" West 27.86 feet to a point; thence North 31°03'37" West 47.04 feet to a point; thence North 26°51 '20" West 86.02 feet to a point; thence Nmth 24°07'20" West 32.88 feet to a point; thence North 29°45'01" West 53.81 feet to a point; thence North 27°56'26" West 136.60 feet to a point; thence North 33°14' 11" West 170.12 feet to a point; thence North 34°13'20" West 172.42 feet to a point; thence North 30°25'24" West 78.84 feet to a point; thence North 26°48'33" West 17.36 feet to a point; thence North 18°11 '05" West 43.13 feet to a point; thence N01th 09°34' 15" West 30.61 feet to a point; thence North 02°49'50" East 36.74 feet to a point; thence North 09°33 '28" East 46.99 feet to a point; thence North 16°20' 13" East 35.45 feet to a point; thence North 19°58'42" East 27.98 feet to a point; thence North 23°08' 53" East 29.61 feet to a point; thence North 29°08' 19" East 40. 92 feet to a point; thence No1th 30°54'44" East 26.05 feet to a point; thence North 34 °26' 25" East 19. 68 feet to a point; thence North 47°22' 46" East 29.53 feet to a point; thence North 55°16'02" East 17.01 feet to a point; thence North 71°23 '55" East 172.44 feet to the point and place of Beginning, containing 19.81 acres more or less.