20210306 Ver 2_Materials for review_20220221

Mitigation Project Information Upload
ID#* 20210306
Version* 2
Select Reviewer: *
Katie Merritt
Initial Review Completed Date 02/22/2022
Mitigation Project Submittal - 2/21/2022
..................................................................................................................................................................................................................................................................
Is this a Prospectus, Technical Proposal or a New Site? * 0 Yes ® No
Type of Mitigation Project:*
Stream Wetlands Buffer Nutrient Offset
(Select all that apply)
Project Contact Information
Contact Name: *
Katie Webber
Project Information
ID#:*
20200306
Existing ID#
Project Type:
Project Name:
County:
DMS • Mitigation Bank
Thunder Swamp Phase 2
Wayne
Document Information
Mitigation Document Type: *
Mitigation Conservation Easement
File Upload:
Signature
............................................
Print Name: *
Signature:*
Email Address: *
[e-mail]
Version:* 2
Existing Version
Thunder Swamp Phase 2 - Materials for review
871.27KB
(NCDWR Project ID# 2020-0306 version 2).pdf
Please upload only one PDF of the complete file that needs to be submitted...
Christopher Santelle
6? &•

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 TI1E RATIO OF
PRECISION OR POSITIONAL ACCURACY AS CALCULATED IS I : 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;
(I)
(2)
(3)
(4)
(5)
CLASS OF SURVEY: CLASS -A
POSITIONAL ACCURACY: 0.07'
TYPE OF GPS FIELD PROCEDURE: RTK/VRS
DATES OF SURVEY: 3/23/202 I
DATUM/EPOCH: NAD83/20I I
(6) GEOID MODEL: 1 2A
(7) COMBINED GRID FACTOR(5): 0.99987066
UNITS: U.S. SURVEY FEET
WITNESS MY ORIGINAL SIGNATURE, REGISTRATION LICENSE NUMBER AND SEAL
THIS DAY OF A.D.,202 1.
CHRISTOPHER L. COLE
REGISTRATION/LICENSE NO. NCPLS L-5008
NC FIRM LICENSE NO. C-4288 - = SEAL
_ L-5008 =
% �l qid SURv�' � C.)
s
�oESSIo', �f
/1110iiniio1`‘‘
1KELIMINARY
REVIEW OFFICER CERTIFICATION
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
NOT FOR SALES, RECORDATION OR
CONVEYANCES
NOW OR
FORMERLY
JAMES PARKER
PIN:2563804987
DB 1 386 PG 833
<A
LINE TABLE
LINE
BEARING
LENGTH
L1
N71 °38'37"W
44.26
L2
N44°21'27"W
97.73
L3
N23°37'33"W
31.16
L4
N41°30'39"W
66.48
L5
N69°57'26"W
46.54
L6
N39°57'02"W
41.62
L7
N70°27'40"W
62.25
L8
N28°35'18"W
38.06
L9
N31°11'35"W
47.60
L10
N62°40'20"W
68.46
L11
S45°27'15"W
24.55
L12
N77°30'S0"W
138.53
L13
N40°10'33"W
50.92
L14
N62°51'S5"W
23.90
L15
N79°16'58"W
28.55
L16
S46°18'41 "W
18.09
L17
S07°43'47"E
14.21
L18
S37°50'04"E
10.51
L19
S23°49'02"W
35.62
L20
S64°41'28"W
40.39
AO
<3S
NOW OR
FORMERLY
MARYJO BUNDY
PIN: 2573144175
DB 1314PG 13I
APPROXIMATE 100
YEAR FLOOD AREA
APPROXIMATE
FLOODWAY
L34
L3
LINE TABLE
LINE
BEARING
LENGTH
L21
S30°58'39"W
28.84
L22
S44°24'10"W
27.32
L23
S89°47'54"W
80.07
L24
N26°11'14"W
29.75
L25
N45°25'52"W
75.35
L26
N27°00'52"W
66.89
L27
N50°11'35"W
81.83
L28
N63°17'02"W
107.75
L29
S67°57'37"W
31.84
L30
N05°04'57"W
48.15
L31
N67°44'45"W
36.65
L32
N11°39'16"W
49.85
L33
N46°30'31"W
18.95
L34
S86°12'44"W
122.95
L35
N55°53'31"W
48.55
L36
N06°00'28"W
38.85
L37
N07°39'08"E
58.05
L38
S64°35'27"W
5.92
L39
N73°26'10"W
42.75
L40
S65°06'24"W
23.15
co
NOW OR FORMERLY
DANNY GRAY JACKSON AND
MARGARET JERNIGAN JACKSON
PIN: 2563908684
DB 3373 PG 242
PB N SLIDE 46-G
l?S
Fry
L23
LINE TABLE
LINE
BEARING
LENGTH
L41
N60°04'12"W
23.15
L42
N47°22'47"W
25.35
L43
N12°13'30"W
56.65
L44
N29°31'29"W
61.05
L45
N25°46'21"W
26.45
L47
N53°05'44"W
243.18
L48
S63°34'54"W
212.61
L49
S66°48'05"W
248.80
L50
S41 °26'S5"W
178.35
L51
S82°55'24"W
159.74
L52
S21 °07'16"W
103.57
L53
S3318'56"E
220.99
L54
N40°35'52"W
243.49
L58
S36°06'05"W
47.96
L60
S53°40'04"E
200.27
L61
S36°10'16"W
438.55
L62
N35.32'12"E
391.65
L63
N53°58'00"W
195.87
L64
S53°58'00"E
213.13
REBAR
(FOUND)
Vt
NEW LINE
^L15
cP
i,v
L12
R`N
NOTES:
I) BASIS OF BEARINGS: NCGS GRID COORDINATES,
NAD 83/201 I DATUM.
2) FIELD WORK COMPLETED ON 4/1 5/202 1 .
3) ALL DISTANCES ARE HORIZONTAL GROUND 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) TRAVERSE ADJUSTMENT: COMPASS RULE
8) THERE IS NOT EVIDENCE OF EARTH -WORK ON THE
SUBJECT PROPERTY.
9) BOUNDARY LINES THAT FOLLOW WATER FEATURES SUCH
AS CREEKS ARE SUBJECT TO CHANGE DUE TO NATURAL
CHANGES IN THE ALIGNMENT OF THE CREEK DUE TO
AVULSION, RELICTION, EROSION AND OTHER NATURAL
CHANGES AND THAT IT MAY OR MAY NOT REPRESENT THE
ACTUAL LOCATION OF THE LIMIT OF TITLE.
I 0) FLOODPLAIN
MAP: 3720256300K
DATE: 6/20/ 18
CID: 370254
PANEL: 2563
NEW TRACT-2
885,644 S.F.
+/- 20.332 AC.
NEW TRACT- I
EXCLUDING POSSIBLE
OVERLAP IN DEEDS
2, 1 10, 1 25 S.F.
+/- 48.442 AC.
INCLUDING POSSIBLE
OVERLAP IN DEEDS
2, 120,467 S.F.
+/- 48.679 AC.
APPROXIMATE 100
YEAR FLOOD AREA
APPROXIMATE
FLOODWAY
z10
<s)
PROPERTY LINE IS "THE RUN"
OF THUNDER SWAMP
L7
l6,
L5
(44
L1
HIGH
PY55
PPVtD W
�NS�pt AG,G
GRAPHIC SCALE
200 0 100 200 400
( IN FEET )
1 inch = 200 ft.
PINCH
TOP
I RON
(FOUND)
1341.25'
REBAR
(FOUND)
o
„7
•
NOW OR FORMERLY
DOUGLAS CONNOR TRUSTEE
PIN: 2573 1 03985
DB 1314PG 13I
-R`N
REBAR
(FOUND)
< N
NOW OR FORMERLY
DOUGLAS CONNOR
TRUSTEE
PIN: 2573006940
DB 1 788 PG 377
REBAR
(FOUND)
B00
�66
NCGS "PLANT"
NAD 83/20I I
N: 53 I ,789.53
E: 2,27 I , 123.52 L6��
HARRELLS HILL
HIGHWAY 55
SITE
VICINITY MAP
(N.T.S.)
SOURCE OF TITLE:
DB 3373 PG 242
LEGAL REFERENCES:
PB N SLIDE 46-G
VARIABLE WIDTH
INGRESS/EGRESS/REGRESS
EASEMENT HEREBY CREATED
NOW OR FORMERLY
DIXIE PROPERTY
DEVELOPMENT, LLC
PIN: 2573110358
DB 3133 PG 720
NOW OR FORMERLY
ANTHONY AND JAMIE
WILLIAMS
PIN:2573110322
NNDB 2983 PG 144
NOW OR FORMERLY
DILLON AND WINFRED
WI LLI AM S
PIN: 2573019139
DB 3189 PG 372
N
NOW OR FORMERLY
ANTHONY AND JAMIE
WI LLI AM S
PIN: 25730 1 8044
D j3464 PG 228
POSSIBLE
OVERLAP IN DEEDS
I0,342 S.F.
REBAR
(FOUND)
LEGEND
EP
0
•
NOW OR
FORMERLY
DOUGLAS
CONNOR TRUSTEE
PIN: 2573 1 03985
DB 1314PG 131
EDGE OF PAVEMENT
PROPERTY CORNER
#4 REBAR (SET)
PROPERTY LINE (SURVEYED)
PROPERTY LINE (NOT SURVEYED)
RIGHT OF WAY
TREE LINE
TOP OF BANK
BOTTOM OF BANK
OVERHEAD UTILITY LINE
THE PURPOSE OF THIS SURVEY IS TO SUBDIVIDE PIN:
2563-90-8684 AND CREATE TWO SEPARATE LOTS
SUBDIVISION PLAT
OWNERS
DANNY GRAY JACKSON AND MARGARET
JERNIGAN JACKSON
PIN 2563-90-8684
PREPARED FOR
ENVIRONMENTAL BANC $ EXCHANGE, LLC
.Ascension _Land Surveying
P.C.
Professional Land Surveying $ Consulting
116 Williams Road, Mocksville, NC 27028
Phone: [phone] Email: [e-mail]
NC FIRM LICENSE: C-4288 NC PLS LICENSE: L-5008
DRAWN BY: C. COLE
SURVEYED BY: J. H E LM LY
DATE
4/20/2 I
JOB
21-02-II
CHECKED BY: K. COLE
BOOK # 18
SCALE
I "= 200'
SHEET #
I OF I

RES Draft 2022.2.21
PERMANENT CONSERVATION EASEMENT
Excise Tax: $
Parcel Identifier No.: PIN 2563908684
Prepared by and return after recording to: EBX, c/o Stephen Colomb, 3600
Glenwood Ave., Suite 100, Raleigh, NC 27612
Brief description for the Index: 30.426 (+/-) acre Conservation Easement in
Wayne County, NC
THIS CONSERVATION EASEMENT ("Conservation Easement") made
this day of , 2022 by and between Environmental
Banc & Exchange, LLC, a Maryland limited liability company, whose mailing
address is 6575 West Loop South, Suite 300, Bellaire, TX 77401 ("Grantor")
and , whose mailing address is
("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");
1

RES Draft 2022.2.21
WHEREAS, Grantee is a private business entity whose purpose
includes the conservation of property, and is qualified to be the Grantee of a
conservation easement pursuant to N.C. Gen. Stat. § 121-35;
WHEREAS, Grantor and Grantee recognize the conservation, scenic,
natural, or aesthetic value of the property in its 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 30.426 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 a condition of the approval of the RES
Thunder Swamp Phase II Mitigation Banking Instrument ("MBI") and the
Thunder Swamp Phase II Bank Parcel Development Plan (BPDP) North
Carolina Department of Environmental Quality — Division of Water Resources
("NCDWR") Project ID Number 2021-0306 version 2 entitled "Agreement to
Establish the RES Thunder Swamp Phase II Mitigation Banking Instrument in
the Neuse River Basin for Riparian Buffer and Nutrient Offset Mitigation
Credits Pursuant to the Neuse Nutrient Management Strategy", entered into
by and between Environmental Banc & Exchange, LLC ("EBX") acting as the
Bank Sponsor ("Bank Sponsor"), in consultation with NCDWR. The Thunder
Swamp Phase II Project has been approved by NCDWR for use as a
mitigation bank to compensate for unavoidable riparian buffer and nutrient
impacts.
WHEREAS, Grantor and Grantee agree that third -party rights of
enforcement shall be held by EBX and NCDWR ("Third-Parties,"to include any
successor agencies), and may be exercised through the appropriate
enforcement agencies 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 # 2021-0306 version 2 ("Mitigation Banking Instrument"), 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:
2

RES Draft 2022.2.21
ARTICLE I.
DURATION OF EASEMENT
This Conservation Easement shall be perpetual. This Conservation
Easement is an easement in gross, runs with the land and is enforceable by
Grantee against Grantor, Grantor's personal representatives, heirs, successors
and assigns, lessees, agents and licensees.
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
3

RES Draft 2022.2.21
vegetation or disturb soils. Mowing activities shall only be performed by Bank
Sponsor and shall not violate any part of Item M 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 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. For purposes of restoring and
enhancing riparian areas within the Conservation Easement Area, Bank
Sponsor is allowed to perform grading, filling, and excavation associated with
riparian buffer and nutrient restoration and enhancement activities as described
in the BPDP.
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. Subdivision. The Grantor and Grantee agree that the Conservation
Easement Area currently consists of one (1) Conservation Easement Areas
(Conservation Easement Area A) within one (1) Wayne County tax parcel. The
4

RES Draft 2022.2.21
Grantor may not further subdivide the Conservation Easement Area, except
with the prior written consent of the Grantee. If Grantor elects to further
subdivide any portion of the Conservation Easement Area, Grantor must
provide the Grantee the name, address, and telephone number of new
owner(s) of all property within the Conservation Easement Area, if different
from Grantor. No subdivision of the Conservation Easement Area shall limit the
right of ingress and egress over and across the Property for the purposes set
forth herein. Further, in the event of any subdivision of the Property (whether
inside or outside of the Conservation Easement Area) provision shall be made
to preserve not only Grantee's perpetual rights of access to the Conservation
Easement Area, as defined herein, but also Grantee's right of perpetual access
to any conservation easements on properties adjacent to the Property which
form a part of or are included in the BPDP. Creation of a condominium or any
de facto division of the Conservation Easement Area is prohibited. Lot line
adjustments or lot consolidation without the prior written consent of the Grantee
is prohibited. The Grantor may convey undivided interests in the real property
underlying the Conservation Easement Area. The Grantor shall notify the
Grantee immediately of the name, address, and telephone number of any
grantee of an undivided interest in any property within the Conservation
Easement Area.
M. 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 Bank
Sponsor, Grantee, the Third -Parties, and their employees and agents,
successors, assigns for purposes of constructing, maintaining and
monitoring the restoration, enhancement and preservation of riparian areas
within the Conservation Easement Area. The use of mechanized vehicles
for monitoring purposes is limited to only existing roads and trails as shown
in the approved in the BPDP.
N. 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.
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
5

RES Draft 2022.2.21
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 Mitigation Banking Instrument
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 and
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 or 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 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
6

RES Draft 2022.2.21
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 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 Third -Parties.
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

RES Draft 2022.2.21
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 Mitigation Banking
Instrument: MBI 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, except those incurred after the date hereof, which are
expressly subject and subordinate to the Conservation Easement. 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. Grantor is responsible for all long-term
management activities associated with fencing, if and where applicable. These
activities include the maintenance and/or replacement of fence structures to
ensure the aquatic resource functions within the boundaries of the Conservation
Easement Area 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 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
8

RES Draft 2022.2.21
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:
Environmental Banc & Exchange, LLC
6575 West Loop South, Suite 300
Bellaire, TX 77401
To Grantee:
To Sponsor:
Environmental Banc & Exchange, LLC
c/o Resource Environmental Solutions, LLC
3600 Glenwood Avenue, Suite 100
Raleigh, NC 27612
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 grant.
M. Present Condition of the Conservation Easement Area. The
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 Grantor and
acknowledged by the Grantor and Grantee to be complete and accurate as of
the date hereof. Both Grantor and Grantee have copies of this report. It will be
used by the parties to assure that any future changes in the use of the
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.
9

RES Draft 2022.2.21
TO HAVE AND TO HOLD the said rights and easements perpetually
unto Grantee for the aforesaid purposes.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
10

RES Draft 2022.2.21
IN TESTIMONY WHEREOF, the Grantor has hereunto set his hand and
seal, the day and year first above written.
GRANTOR:
Environmental Banc & Exchange, LLC,
a Maryland limited liability company
By: Resource Environmental Solutions, LLC,
a Lousiana limited liability company,
its Manager
By:
Name:
Title:
STATE OF
COUNTY OF
I, a Notary Public of the State and County aforesaid, do hereby certify that
personally appeared before me this day and
acknowledged that he/she is the of Resource
Environmental Solutions, LLC, a Louisiana limited liability company, manager of
Environmental Banc & Exchange, LLC, a Maryland limited liability company, and
that by authority duly given, and as the act of the Grantor, he/she signed the
foregoing Easement in its name, on its behalf and as its act and deed for the
purposes stated herein.
Witness my hand and official stamp or seal, this the _ day of
2022.
[SEAL]
Signature of Notary Public
Printed Name of Notary Public
My commission expires:
11

RES Draft 2022.2.21
IN TESTIMONY WHEREOF, the Grantee has hereunto set his hand and
seal, the day and year first above written.
GRANTEE:
By:
Name:
Title:
STATE OF
COUNTY OF
I, a Notary Public of the State and County aforesaid, do hereby certify that
personally appeared before me this day and
acknowledged that he/she is the of
, and that by authority duly given, and as the
act of the Grantee, he/she signed the foregoing Easement in its name, on its
behalf and as its act and deed for the purposes stated herein.
Witness my hand and official stamp or seal, this the _ day of
2022.
[SEAL]
Signature of Notary Public
Printed Name of Notary Public
My commission expires:
12

RES Draft 2022.2.21
EXHIBIT A
Legal Description of the Property
BEING 48.679 acres, more or less, tract or parcel of real property situated in Wayne County,
North Carolina, being identified by the PIN number , and more particularly
described in a deed recorded in Book , Page of the Wayne County Registry, North
Carolina.
13

RES Draft 2022.2.21
EXHIBIT B
Conservation Easement Area
BEING THAT AREA CONTAINING A TOTAL OF 30.426 ACRES, AS SHOWN ON A PLAT OF
SURVEY ENTITLED "CONSERVATION EASEMENT SURVEY ENVIRONMENTAL BANC &
EXCHANGE, LLC, THUNDER SWAMP PHASE 2 BUFFER AND NUTRIENT MITIGATION
PROJECT: PROJECT: 20-02-11 "THUNDER SWAMP-, WAYNE COUNTY, N.C.,
ASCENSION LAND SURVEYING, P.C., FIRM LIC. #C-4288, JOB 21-02-11, DATED 4/20/21,
DRAWN BY C. COLE, PLS NUMBER L-5008, AND RECORDED IN THE WAYNE COUNTY,
NORTH CAROLINA REGISTER OF DEEDS AT PLAT BOOK , AT PAGE
(THE "SURVEY"), AND BEING FURTHER DESCRIBED AS FOLLOWS:
CONSERVATION EASEMENT "A"
1,325,376 S.F. +/- 30.426 AC.
BEGINNING AT A #4 REBAR AND BEING THE MOST NORTHERN POINT OF THE
CONSERVATION EASEMENT DESCRIBED HEREIN; THENCE S-40-35-52-E 243.49' TO A#4
REBAR; THENCE S-35-26-04-W 389.57' TO A #4 REBAR; THENCE S-14-46-14-W 58.80' TO A #4
REBAR; THENCE S-36-56-20-W 180.56' TO A #4 REBAR; THENCE S-53-55-33-E 231.09' TO A #4
REBAR; THENCE S-35-25-44-W 391.54 TO A #4 REBAR; THENCE S 13-40-49-W 573.41' TO A #4
REBAR BEING IN THE PROPERTY LINE OF (NOW OR FORMERLY) DANNY GRAY AND
MARGARET JERNIGAN JACKSON, DB 3373 PG 242 AND ALSO (NOW OR FORMERLY)
DOUGLAS CONNOR TRUSTEE, DB 1314 PG 131; THENCE WITH THE AFOREMENTIONED LINE
S-35-32-23-W 209.95' TO A CALCULATED POINT IN "THUNDER SWAMP"; THENCE WITH THE
"RUN OF THUNDER SWAMP" THE FOLLOWING 45 (FORTY-FIVE) CALLS:
1) N-71-38-37-W 44.26' TO A POINT
2) N-44-21-27-W 97.73' TO A POINT
3) N-23-37-33-W 31.16' TO A POINT
4) N-41-30-39-W 66.48' TO A POINT
5) N-69-57-26-W 46.54' TO A POINT
6) N-39-57-02-W 41.62' TO A POINT
7) N-70-27-40-W 62.25' TO A POINT
8) N-31-11-35-W 47.60' TO A POINT
9) N-62-40-20-W 68.46' TO A POINT
10) S-45-27-15-W 24.55' TO A POINT
11) N-77-30-50-W 138.53' TO A POINT
12) N-40-10-33-W 50.92' TO A POINT
13) N-62-51-55-W 23.90' TO A POINT
14) N-79-16-58-W 28.55' TO A POINT
15) S-46-18-41-W 18.09' TO A POINT
16) S-07-43-47-E 14.21' TO A POINT
17) S-37-50-04-E 10.51' TO A POINT
18) S-23-49-02-W 35.62' TO A POINT
19) S-64-41-28-W 40.39' TO A POINT
20) S-30-58-39-W 28.84' TO A POINT
21) S-44-24-10-W 27.32' TO A POINT
22) S-89-47-54-W 80.07' TO A POINT
23) N-26-11-14-W 29.75' TO A POINT
24) N-45-25-52-W 75.35' TO A POINT
14

RES Draft 2022.2.21
25) N-27-00-52-W 66.89' TO A POINT
26) N-88-22-17-W 37.55' TO A POINT
27) N-50-11-35-W 81.83' TO A POINT
28) N-63-17-02-W 107.75' TO A POINT
29) S-67-57-37-W 31.84' TO A POINT
30) N-05-04-57-W 48.15' TO A POINT
31) N-67-44-45-W 36.65' TO A POINT
32) N-11-39-16-W 49.85' TO A POINT
33) N-46-30-31-W 18.95' TO A POINT
34) S-86-12-44-W 122.95' TO A POINT
35) N-55-53-31-W 48.55' TO A POINT
36) N-06-00-28-W 38.85' TO A POINT
37) N-07-39-08-E 58.05' TO A POINT
38) S-64-35-27-W 5.92' TO A POINT
39) N-73-26-10-W 42.75' TO A POINT
40) S-65-06-24-W 23.15' TO A POINT
41) N-60-04-12-W 23.15' TO A POINT
42) N-47-22-47-W 25.35' TO A POINT
43) N-12-13-30-W 56.65' TO A POINT
44) N-29-31-29-W 61.05' TO A POINT
45) N-25-46-21-W 26.45' TO A POINT IN THE LINE OF THE AFOREMENTIONED JACKSON
TRACT AND (NOW OR FORMERLY) JAMES PARKER, DB 1386 PG 833; THENCE WITH THAT
LINE N-41-08-31-E 122.85' TO A #4 REBAR; THENCE LEAVING THE LINE OF THE
AFOREMENTIONED S-53-05-44-E 243.18' TO A #4 REBAR; THENCE N-46-07-46-E 363.92' TO A
#4 REBAR; THENCE N-63-34-54-E 212.61' TO A #4 REBAR; THENCE N-66-48-05-E 248.80' TO A
#4 REBAR; THENCE N-41-26-55-E 178.35' TO A #4 REBAR; THENCE N-82-55-24-E 159.74' TO A
#4 REBAR; THENCE N-21-07-16-E 103.57' TO A #4 REBAR; THENCE N-33-18-56-W 220.99 TO A
#4 REBAR; THENCE N-79-33-23-E 420.54' TO A #4 REBAR AND CAP; THENCE S-25-52-25-W
311.81' TO A #4 REBAR AND CAP ; THENCE S-02-08-12-E 232.80' TO A #4 REBAR AND CAP;
THENCE S-21-57-06-W 278.70' TO A #4 REBAR AND CAP ; THENCE S-56-42-33-W 193.57' TO A
#4 REBAR AND CAP; THENCE N-18-44-47-W 293.34' TO A #4 REBAR AND CAP; THENCE S-73-
44-04-W 272.16' TO A #4 REBAR AND CAP ; THENCE S-63-12-22-W 213.91' TO A #4 REBAR
AND CAP; THENCE S-57-49-44-W 79.48' TO A #4 REBAR AND CAP; THENCE S-28-12-07-W
84.95' TO A #4 REBAR AND CAP; THENCE S-10-35-04-E 218.56' TO A #4 REBAR AND CAP;
THENCE S-18-00-03-E 104.97' TO A #4 REBAR AND CAP; THENCE N-86-57-45-E 297.84' TO A
#4 REBAR AND CAP; THENCE N-73-55-05-E 401.11' TO A #4 REBAR AND CAP; THENCE N-55-
51-56-E 240.09' TO A #4 REBAR AND CAP; THENCE N-35-46-46-E 118.46' TO A #4 REBAR AND
CAP ; THENCE N-25-24-29-E 336.35' TO A #4 REBAR AND CAP ; THENCE N-01-19-57-E 233.35'
TO A #4 REBAR AND CAP ; THENCE N-20-42-28-E 382.71' TO A #4 REBAR AND CAP; THENCE
N-79-33-23-E 175.76' TO THE POINT AND PLACE OF BEGINNING.
TOGETHER WITH RIGHTS OF ACCESS OVER, ACROSS, AND THROUGH THE PROPERTY FOR
THE PURPOSES OF GRANTEE AND THE THIRD -PARTIES ACCESSING THE CONSERVATION
EASEMENT AREA AND FULFILLING THEIR RIGHTS AND OBLIGATIONS UNDER THIS
CONSERVATION EASEMENT.
TOGETHER WITH AN EASEMENT FOR INGRESS, EGRESS AND REGRESS TO HIGHWAY 55
OVER, ACROSS AND THROUGH THAT CERTAIN PROPERTY LABELED "VARIABLE WIDTH
INGRESS/EGRESS/REGRESS EASEMENT HEREBY CREATED" AS SHOWN ON THAT CERTAIN
PLAT ENTITLED "SUBDIVISION PLAT, OWNERS DANNY GRAY JACKSON AND MARGARET
JERNIGAN JACKSON' BY ASCENSION LAND SURVYEING, P.C., DATED APRIL 20, 2021 AND
RECORDED IN PLAT BOOK , PAGE , WAYNE COUNTY REGISTRY.
15

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 TI1E RATIO OF
PRECISION OR POSITIONAL ACCURACY AS CALCULATED IS I : 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;
(I)
(2)
(3)
(4)
(5)
CLASS OF SURVEY: CLASS -A
POSITIONAL ACCURACY: 0.07'
TYPE OF GPS FIELD PROCEDURE: RTK/VRS
DATES OF SURVEY: 3/23/202 I
DATUM/EPOCH: NAD83/20I I
(6) GEOID MODEL: 1 2A
(7) COMBINED GRID FACTOR(5): 0.99987066
UNITS: U.S. SURVEY FEET
WITNESS MY ORIGINAL SIGNATURE, REGISTRATION LICENSE NUMBER AND SEAL
THIS DAY OF A.D.,202 1.
CHRISTOPHER L. COLE
REGISTRATION/LICENSE NO. NCPLS L-5008
NC FIRM LICENSE NO. C-4288
CA.R
�osESSIo', 'f
,Z,R4 SEAL 4;',
1RELI M I NARY
REVIEW OFFICER CERTIFICATION
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
NOT FOR SALES, RECORDATION OR
CONVEYANCES
/
NOW OR
FORMERLY
JAMES PARKER
PIN:2563804987
DB 1 386 PG 833 /
/
/14
0444-
e444*
:�39 L� CONSERVATION
D�% EASEMENT "A"
LINE TABLE
LINE
BEARING
LENGTH
L1
N71 °38'37"W
44.26
L2
N44°21'27"W
97.73
L3
N23°37'33"W
31.16
L4
N41°30'39"W
66.48
L5
N69°57'26"W
46.54
L6
N39°57'02"W
41.62
L7
N70°27'40"W
62.25
L8
N31°11'35"W
47.60
L9
N62°40'20"W
68.46
L10
S45°27'15"W
24.55
L11
N77°30'S0"W
138.53
L12
N40°10'33"W
50.92
L13
N62°51'S5"W
23.90
L14
N79°16'58"W
28.55
L15
S46°18'41 "W
18.09
L16
S07°43'47"E
14.21
L17
S37°50'04"E
10.51
L18
S23°49'02"W
35.62
L19
S64°41'28"W
40.39
L20
S30°58'39"W
28.84
r
w
rn
L34
LINE TABLE
LINE
BEARING
LENGTH
L21
S44°24'10"W
27.32
L22
S89°47'54"W
80.07
L23
N26°11'14"W
29.75
L24
N45°25'52"W
75.35
L25
N27°00'52"W
66.89
L26
N88°22'17"W
37.55
L27
N50°11'35"W
81.83
L28
N63°17'02"W
107.75
L29
S67°57'37"W
31.84
L30
N05°04'57"W
48.15
L31
N67°44'45"W
36.65
L32
N11°39'16"W
49.85
L33
N46°30'31"W
18.95
L34
S86°12'44"W
122.95
L35
N55°53'31"W
48.55
L36
N06°00'28"W
38.85
L37
N07°39'08"E
58.05
L38
S64°35'27"W
5.92
L39
N73°26'10"W
42.75
L40
S65°06'24"W
23.15
NOW OR
FORMERLY
MARYJO BUNDY
PIN: 2573144175
DB 1314PG 13I
Q / NOW OR FORMERLY
DANNY GRAY JACKSON AND
MARGARET JERNIGAN JACKSON
PIN: 2563908684
DB 3373 PG 242
PB N SLIDE 46-G
/
/
_ro
REBAR �e
(FOUND)-
N
FUTURE "TRACT 2" TO
BE RECORDED ON A
SEPARATE TRACT
Lil
S L22 `'/
LINE TABLE
LINE
BEARING
LENGTH
L41
N60°04'12"W
23.15
L42
N47°22'47"W
25.35
L43
N12°13'30"W
56.65
L44
N29°31'29"W
61.05
L45
N25°46'21"W
26.45
L46
N41 °08'31 "E
122.85
L47
S53°05'44"E
243.18
L48
S57°49'44"W
79.48
L49
S28°12'07"W
84.95
L50
S18°00'03"E
104.97
L51
N35°46'46"E
118.46
L52
N79°33'23"E
175.76
L53
S40°35'52"E
243.49
L54
S14°46'14"W
58.80
L55
S36°56'20"W
180.56
L56
S35°32'23"W
209.95
L57
N79°33'23"E
265.59
L58
N55°03'12"E
159.93
L59
N52°20'24"W
322.67
L60
N82°55'24"E
159.74
RW
-RN
NOTES:
I) BASIS OF BEARINGS: NCGS GRID COORDINATES,
NAD 83/201 I DATUM.
2) FIELD WORK COMPLETED ON 4/1 5/202 I .
3) ALL DISTANCES ARE HORIZONTAL GROUND 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) TRAVERSE ADJUSTMENT: COMPASS RULE
8) THERE IS NOT EVIDENCE OF EARTH -WORK ON THE
SUBJECT PROPERTY.
9) BOUNDARY LINES THAT FOLLOW WATER FEATURES SUCH
AS CREEKS ARE SUBJECT TO CHANGE DUE TO NATURAL
CHANGES IN THE ALIGNMENT OF THE CREEK DUE TO
AVULSION, RELICTION, EROSION AND OTHER NATURAL
CHANGES AND THAT IT MAY OR MAY NOT REPRESENT THE
ACTUAL LOCATION OF THE LIMIT OF TITLE.
I 0) FLOODPLAIN
MAP: 3720256300K
DATE: 6/20/ 18
CID: 370254
PANEL: 2563
420.54
kg. **41;VI
#40#
444
60 10$4.
r..44$4.0
440141*
4
LINE TABLE
LINE
BEARING
LENGTH
L61
N21°07'16"E
103.57
AND CP�OL 3� E� MAND
58 (Og2 PG 2
55 594 PG 252
DB 309 PG 494
FUTURE "TRAC - I " TO
BE RECORDED ON A
SEPARATE PLAT
L57
5 V0I#4
*teCONSERVATION ,,�
frw �$
*I4.4#4./
*I 4*
00#
"WI
//
HARRELLS HILL
HIGHWAY 55
SITE
VICINITY MAP
(N.T.S.)
TOTAL AREA INSIDE OF CONSERVATION EASEMENT ""A"
I ,325,376 S.F.
+/- 30.426 AC.
THE "FUTURE TRACT I , FUTURE TRACT 2 AND VARIABLE
WIDTH INGRESS/EGRESS/REGRESS EASEMENT" SHOWN ON
THIS MAP HAVE NOT BEEN RECORDED BUT WILL BE
RECORDED ON A SEPARATE SUBDIVISION PLAT.
• #4
#444•4
0# #4
#..# # 4-
:0)z
$0444!
OF THUNDER SWAMP PROPERTY LINE IS "THE RUN" O4O�
#4*44
4.# #4.#
,41t#N#4,0#4.
8$00$1
s$4*A
L7
GRAPHIC SCALE
200 0 100 200 400
( IN FEET )
1 inch = 200 ft.
/
/Q�
-RN
\,)
N
NOW OR FORMERLY
DOUGLAS CONNOR
TRUSTEE
PIN: 2573006940
DB 1 788 PG 377
N /
NCGS "PLANT"
NAD 83/20I I
N: 53 I ,789.53
E: 2,27 1 , 1 23.52
R`,
/
41// A
/ \
NOW OR F ERLY
DIXIE PRO RTl'
DEVELOPMEN , LLC
PIN: 25731 103
DB 3133 PG 72
VARIABLE WIDTH
INGRESS/EGRESS/REGRESS
EASEMENT (TO BE RECORDED
ON A SEPARATE PLAT)
I RON
ROD NOW OR FORMERLY
(FOUND) ANTHONY AND JAMIE
2573 MS
PIN:2573110322
NDB 2983 PG 144
NOW OR FORMERLY
DILLON AND WINFRED
WI LLI AM S
PIN: 2573019139
DB 3189 PG 372
NOW OR FORMERLY
ANTHONY AND JAMIE
WI LLI AM S
PIN: 25730 1 8044
D j3464 PG 228
N/
REBAR
h O (FOUND)
FUTURE "TRACT- I " TO
BE RECORDED ON A
SEPARATE PLAT
NOW OR FORMERLY
DOUGLAS CONNOR TRUSTEE
PIN: 2573 1 03985
DB 1314PG 13I
B00
y
LEGEND
EP
0
• PL
--�2W --
-- TB- - -
BB - -
E
SCE
NOW OR
FORMERLY
DOUGLAS
CONNOR TRUSTEE
PIN: 2573 1 03985
DB 1314PG 131
EDGE OF PAVEMENT
PROPERTY CORNER
#4 REBAR (SET)
PROPERTY LINE (SURVEYED)
PROPERTY LINE (NOT SURVEYED)
RIGHT OF WAY
TREE LINE
TOP OF BANK
BOTTOM OF BANK
OVERHEAD UTILITY LINE
CONSERVATION EASEMENT
CONSERVATION EASEMENT
THIS SURVEY DOES NOT REPRESENT A COMPLETE BOUNDARY
SURVEY OF ANY TRACT SHOWN HEREON. THE INFORMATION
SHOWN ON THE FACE OF THIS PLAT WAS DERIVED FROM
EVIDENCE LOCATED IN THE FIELD ALONG WITH SUPPORTING
TITLE DOCUMENTS PROVIDED BY INVESTORS TITLE
INSURANCE COMPANY. THIS SURVEY DOES NOT CHANGE OR
ALTER ANY BOUNDARY LINES.
CONSERVATION EASEMENT SURVEY
OWNERS
ENVIRONMENTAL BANC 5 EXCHANGE, LLC
PIN 2563-90-8684
PREPARED FOR
ENVIRONMENTAL BANC $ EXCHANGE, LLC
THUNDER SWAMP PHASE 2 BUFFER AND NUTRIENT
MITIGATION PROJECT
.Ascension _Land Surveying
P.C.
Professional Land Surveying $ Consulting
116 Williams Road, Mocksville, NC 27028
Phone: [phone] Email: [e-mail]
NC FIRM LICENSE: C-4288 NC PLS LICENSE: L-5008
DRAWN BY: C. COLE
SURVEYED BY: J. H E LM LY
DATE
4/20/2 I
JOB
21-02-II
CHECKED BY: K. COLE
BOOK # 18
SCALE
I "= 200'
SHEET #
I OF I

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
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: Attest:
to. cuAtti,
Angela M. Curtis
Authorized Officer or Agent
President
;0r
ret
Secretary
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)
101046D0024.doc / Updated: 02-13-19 Page 1
Printed: 06-18-20 @ 02:42 PM
NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
Transaction Identification Data for reference only:
Issuing Office: Chicago Title Company, LLC, 300 Blackwell Street, Suite 103, Durham, NC 27701
Phone: [phone]
Fax: [phone]
Commitment Number: 20-10771 DU
Property Address: 0 W NC 55 Highway, Mount Olive, NC 28365
SCHEDULE A
1. Commitment Date: June 15, 2020 at 05:00 PM
2. Policy to be issued:
(a) ALTA Owner's Policy (06-17-06)
Proposed Insured: Environmental Banc & Exchange, LLC
Proposed Policy Amount: $676,276.00
3. The estate or interest in the Land described or referred to in this Commitment is:
Fee Simple
4. Title to the Fee Simple estate or interest in Land is at the Commitment Date vested in:
Danny Gray Jackson and wife, Margaret Jernigan Jackson
5. The Land is described as follows:
Lying and being situate in Wayne County, North Carolina, and being more particularly described as
follows:
Being all of Tract 1, totaling 69.032 acres, more or less, excluding highway and road right-of-way, as
shown on that certain plat entitled "Survey for Forelle Franck Martin, Robert Reaves Martin, Jr. and
Virginia Lorelle Martin, Brogden Township, Wayne County, N.C." dated August 30, 2010 prepared by
Bobby Rex Kornegay, Professional Land Surveyor No. L-944, which will be found duly recorded in Plat
Cabinet N, Slide 46-G of the Wayne County Registry, reference to which is hereby made for a more
perfect description.
END OF SCHEDULE A
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
101046D0024.doc / Updated: 02-13-19 Page 2
NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
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. Warranty Deed from Danny Gray Jackson and wife, Margaret Jernigan Jackson to Environmental Banc &
Exchange, 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. NONE
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.
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.
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
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NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
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
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
101046D0024.doc / Updated: 02-13-19 Page 4
NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
(herein "Liens"), for providing labor, services, (including design professionals such as surveyors, architects,
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. Verification as of closing of (1) the due organization and good standing of Environmental Banc & Exchange, 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.
12. Verification that at the time of closing, there are no parties with rights to the Land pursuant to verbal leases or
pursuant to recorded or unrecorded written leases.
END OF SCHEDULE B, PART I
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
101046D0024.doc / Updated: 02-13-19 Page 5
NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
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 2020, and subsequent years, not yet due or payable.
3. All deferred taxes.
4. 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 D, Slide 28 and Plat Cabinet N, Slide
46-G, Wayne County Registry.
5. Easement to Duke Energy Progress, Inc. recorded in Book 3150, page 180, Wayne County Registry.
6. Right(s)-of-way to Carolina Power and Light Company recorded in Book 1082, page 2; Book 594, page 252 and
Book 309, page 494, Wayne County Registry.
7. Right-of-way to the State Highway Commission recorded in Book 488, page 126, Wayne County Registry.
8. 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.
END OF SCHEDULE B, PART II
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
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NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
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
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
101046D0024.doc / Updated: 02-13-19 Page 7
NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
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.
"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.
(g)
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
101046D0024.doc / Updated: 02-13-19 Page 8
NC-CT-FSAC-01080.365396-20-10771 DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-10771DU
(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.oro/arbitration.
END OF CONDITIONS
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.
AMERICAN
LAND TITLE
ASSOCIATION
ALTA Commitment for Title Insurance (08-01-16) Printed: 06-18-20 @ 02:42 PM
101046D0024.doc / Updated: 02-13-19 Page 9
NC-CT-FSAC-01080.365396-20-10771 DU