20210536 Ver 1_20210536v1_TobaccoRoad_Task1_CreditRequest_20230801

3600 Glenwood Avenue, Suite 100
Raleigh, NC 27612
�
s M . •11
Houston, TX ,0
713.520.5400
8/l/2023
CREDIT RELEASE REQUEST FORM
To: NCDEQ-DWR Nutrient Offset & Buffer Banking Coordinator
From: Ben Carroll ([e-mail], 336-514-0927)
Through: Environmental Banc & Exchange, LLC (EBX)
We formally request a credit release for the Tobacco Road Mitigation Site (DWR 4: 2021-05360)
for completion of Task #1 per the approved credit release schedule, which is included in the
Attachments with this request. The following documents have been submitted to DWR for Task 91:
1) Instrument and BMP Approval,
2) Conservation Easement Recorded (and Plat),
3) Credit Release Schedule (PDF from Approved BMP, and Excel), and
4) Bond Pending Signature for Construction (9612402577) Penal Sum $150,000.
Credits requested for release are detailed below:
Credit Type
%
Release
Credit Amount
Include Units
Notes/Comments
Generated Nitrogen Nutrient Offset
25
39.947
Generated Phosphorus Nutrient Offset
25
2.331
Generated Buffer Offset
25
113,043.749
Signature: a ,

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
Regulatory Division
Action ID No. SAW-2021-00489
May 17, 2023
Re: NCIRT Review and USACE Approval of the Request for Modification to the RES
Cape Fear 02 Umbrella Mitigation Banking Instrument (UMBI) to add the Tobacco Road
Mitigation Project
Mr. Benton Carroll
Resource Environmental Solutions
3600 Glenwood Avenue, Suite 100
Raleigh, North Carolina 27612
Dear Mr. Carroll:
This letter is to inform you that the Wilmington District, Corps of Engineers (Corps) has
reviewed and approved the Tobacco Road Mitigation Project Final Mitigation Plan, dated
April 2023. As bank sponsor you are required to comply with the approved RES Cape
Fear 02 UMBI, Tobacco Road Mitigation Project Final Mitigation Plan, the terms, and
conditions of your NWP 27 verification letter (upon receipt), and the Corps' regulations
regarding compensatory mitigation (33 CFR 332).
The bank sponsor accepts all risk, liability, and responsibility for the success of all
mitigation activities associated with the approved mitigation bank site. In accordance with
the final mitigation plan, following construction of the site, the bank sponsor must prepare
and submit an as -built report and annual monitoring reports to document whether the
stream and wetland restoration, enhancement, and preservation areas on the project site,
totaling 12,435 linear feet of stream and generating 8,574.833 Stream Mitigation Units
(SMUs), plus 5.122 acres of wetlands generating 2.096 Wetland Mitigation Units (WMUs)
meet the necessary interim and final performance standards. When credits are debited
from the mitigation site, the bank sponsor must provide the Corps with an updated ledger
identifying the purchaser of the credits, the project name, the permit number, and the
number and type of credits to be debited. When all stream SMUs have been consumed,
no more credits may be sold from this mitigation site.
Section 12.1 of the approved Final Mitigation Plan identifies the activities that are
necessary for you to receive the initial allocation of credits from the bank. These activities
include a) execution of the UMBI by the Sponsor and the USACE; b) approval of the Final
Mitigation Plan; c) mitigation site must be secured; d) delivery of financial assurances; e)
recordation of the long-term protection mechanism and title opinion acceptable to the
USACE; f) issuance of the 404-permit verification for construction of the site; and g)
documentation of the establishment of the long-term endowment/escrow account. The
Instrument for the Cape Fear 02 Umbrella Mitigation Bank was approved on February 9,

2018, and with this correspondence you have satisfied requirements a and b. From the
Corps' perspective, the next steps include recording the conservation easement to secure
and protect the mitigation site, obtaining the Nationwide Permit 27, marking the boundary
of the site with permanent signs, and executing the necessary financial assurances. Once
these activities have been completed and we receive a copy of the recorded conservation
easement and executed financial assurance documents, we will approve an initial credit
release of 15 percent of the total stream restoration and enhancement mitigation credits
and one hundred percent of the preservation credits. We look forward to working with you
to ensure the Tobacco Road Mitigation Project complies with the requirements of the
approved UMBI and site -specific mitigation plan.
In all future correspondence concerning this matter, please refer to our file number, SAW-
2021-00489. If you have any questions regarding this letter, the mitigation plan review
process, or the requirements of the Mitigation Rule, please contact please contact Kim
Isenhour by email at Kim berly.T.Isenhour(a-)usace.army.mil or at [phone].
Sincerely,
Kim Isenhour
Todd Tugwell
Mitigation Branch Chief
Regulatory Division
Enclosures
Electronic Copies Furnished:
NCIRT Distribution List

DocuSign Envelope ID: 09F2D269-EFFD-4C7E-B931-3C68DD56AD22
ROSY COOPER
Governor
ELIZA E"1"H S. B18ER..
Secretary
RICHARD E. ROGER S, JR,.
Direo-or
Environmental Banc & Exchange, LLC
Attn: Jamey McEachran
(via electronic mail: jmceachran2res.us )
NORTH CAROLINA
Environmental Quality
July 18, 2023
Re: Tobacco Road Mitigation Plan Approval
Dear Sir,
The Division of Water Resources (DWR) received a draft Mitigation Plan (Plan) from Environmental
Banc & Exchange, LLC (EBX) for the Tobacco Road mitigation site (Tobacco Road Site) in 2022.
Appendix A of the Plan was the Buffer Mitigation and Nutrient Offset Plan (Buffer Plan) submitted
to DWR for review and approval under 15A NCAC 02B .0295 to be used as a buffer mitigation and
nutrient offset project. The Buffer Plan was proposed under the terms and conditions of the Tobacco
Road Mitigation Banking Instrument for Nutrient Offset and Riparian Buffer Mitigation Credits
(MBI). Effective July 13, 2023, the MBI was made and entered into by EBX acting as the Bank
Sponsor, and the DWR. Katie Merritt, with DWR, reviewed the Buffer Plan and MBI documents
and provided comments and recommendations. DWR received a revised Buffer Plan and MBI that
addressed all comments and recommendations. The table below summarizes the timeline of the
Buffer Plan and MBI
Project Site Name
DWR Project
ID #
Initial Draft
Received
Revised Draft Received
(Final Draft)
Public Notice
Date
Tobacco Road
2021-0536v1
June 6, 2022
June 27, 2023
June 27, 2023
MBI
Tobacco Road
2021-0536v1
June 6, 2022
June 23, 2023
June 27, 2023
Buffer Mitigation/
Nutrient Offset
Plan
The closing date for the public notice was July 11, 2023. DWR received no comments regarding the
Buffer Plan or MBL These documents are now approved and can be found online at the
following links:
Tobacco Road MBL
https://edocs.deg.ne.gov/WaterResources/DocView.aspx?id=2879486&dbid=0&repo=WaterResources&searchid=d
Oea7acO-3219-4270-a8e3-c24e292aa775
Tobacco Road Buffer Mitigation & Nutrient Offset Plan:
https://edocs. deg.ne. gov/W aterResources/DocV iew. aspx? id=2847676&dbid=0&repo=W aterResources &searchid=d
Oea7acO-3219-4270-a8e3-c24e292aa775
...�....
pQ Z'� North Carolina Department of Environmental Quality 11 Division of water Resources
512 North Salisbury Street 111611 Mail Service Center 11 Raleigh, North Carolina 27699-1611
III �,,,, IIIIIIIIIP
�i�or � r��,e x¢u ow��roi,m a iaammouey 919,707,9000

DocuSign Envelope ID: 09F2D269-EFFD-4C7E-B931-3C68DD56AD22
Tobacco Road Site
EBX
July 18, 2023
Please feel free to Katie Merritt at katie.merritt2deq.nc.gov if you have any questions regarding this
correspondence.
Sincerely,
EDocuSigned by:
S V61[A I�bSS
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc: DWR File Copy (Blake Hartshorn)
USACE File Copy (Kim Browning via electronic mail)
Page 2 of 2

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Transaction Identification Data, for which the Company assumes no liability as set forth in Commitment
Condition 5.e.:
Issuing Office: Investors Title Insurance Company
Commitment No.: 202111757CH/RC/03
Issuing Office File No.: 202111757CH/RC/03
Property Address: 4870 Mineral Springs Road, Graham, NC 27253
REVISED COMMITMENT DATED MARCH 6, 2023 NO. /03
SCHEDULE A
1. Commitment Date: March 1, 2023 at 08:00 AM
2. Policy to be issued:
a. ALTA Owners Policy (06/17/06)
Proposed Insured: Environmental Banc & Exchange, LLC, a Maryland limited liability company
Proposed Amount of Insurance: $50,000.00
The estate or interest to be insured: Conservation Easement
3. The estate or interest in the Land at the Commitment Date is: Conservation Easement
4. The Title is, at the Commitment Date, vested in:
Steven Gerald Greeson
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of nuouATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-A ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule A
Page 1
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Commitment No.: 202111757CH/RC/03
SCHEDULE A
(Continued)
5. The Land is described as follows:
BEGINNING AT A CALCULATED POINT IN THE CENTERLINE OF AN UNNAMED CREEK AND BEING
THE MOST NORTHWESTERN POINT OF THE EASEMENT DESCRIBED HEREIN; THENCE ALONG THE
CENTERLINE OF THE CREEK AND A COMMON LINE WITH (NOW OR FORMERLY) MARVIN MORROW
NEWLIN FAMILY LIMITED PARTNERSHIP, DEED BOOK 1172 PAGE 902 THE FOLLOWING THIRTEEN
(13) CALLS:
1) S58°42'58"E 43.71' TO A CALCULATED POINT
2) S29°17'24"E 72.92' TO A CALCULATED POINT
3) S78°44'48"E 211.06' TO A CALCULATED POINT
4) N72°57'57"E 91.08' TO A CALCULATED POINT
5) S62°40'27"E 185.55' TO A CALCULATED POINT
6) N82°30'12"E 164.55' TO A CALCULATED POINT
7) N66°14'17"E 217.07' TO A CALCULATED POINT
8) N17°00'13"W 35.08' TO A CALCULATED POINT
9) N57°48'35"E 55.16' TO A CALCULATED POINT
10) S78°47'36" 54.30' TO A CALCULATED POINT
11) N65°20'53" 88.12' TO A CALCULATED POINT
12) S 49°33'29"E 31.50' TO A CALCULATED POINT
13) N59°51'23"E 121.68' TO A CALCULATED POINT; THENCE LEAVING THE CENTERLINE
OF THE CREEK AND ALSO LEAVING THE COMMON LINE OF THE AFOREMENTIONED S31 °10'47"E
90.41' TO A #4 REBAR BEING THE MOST SOUTHEASTERN CORNER OF THE EASEMENT DESCRIBED
HEREIN; THENCE S60°57'05"W 521.35' TO A #4 REBAR; THENCE N86°15'00"W 464.35' TO A #4 REBAR;
THENCE N75°05'51 "W 238.40' TO A #4 REBAR; THENCE N51 °25'40"W 136.89' TO A #4 REBAR; THENCE
N33°38'53"W 71.37' TO A #4 REBAR; THENCE N53°51'07"E 69.99' TO THE POINT AND PLACE OF
BEGINNING.
TOGETHER WITH RIGHTS OF ACCESS OVER, ACROSS, AND THROUGH THE PROPERTY (PARCEL ID:
161951) FOR THE PURPOSES OF GRANTEE AND THE THIRD -PARTIES ACCESSING THE
CONSERVATION EASEMENT AREA AND FULFILLING THEIR RIGHTS AND OBLIGATIONS UNDER THAT
CERTAIN CONSERVATION EASEMENT RECORDED IN BOOK , PAGE , ALAMANCE
COUNTY REGISTRY.
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AME
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-A ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule A
Page 2
202111757CH

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InvestorsTifle Insurance Company
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Commitment No.: 202111757CH/RC/03
SCHEDULE A
(Continued)
Issued through the Office of:
Investors Title Insurance Company
308 W. Rosemary Street, Suite 105
Chapel Hill, NC 27514
Tel. [phone] Fax [phone]
Email [e-mail]
Authorized Countersignature
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-A ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule A
Page 3
202111757CH

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InvestorsTifle Insurance Company
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Commitment No.: 202111757CH/RC/03
SCHEDULE B, PART I - Requirements
All of the following Requirements must be met:
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.
5. Receipt of Attorney's Final Certificate, along with all additional required documents, in order to issue a final
policy or policies.
6. For insurance regarding priority of conveyance by seller to proposed insured owner over potential liens for
labor, services or materials, including surveyors, architects, engineers and rental equipment (herein
"liens") of seller, or priority of proposed insured lender's deed of trust (once recorded) over said liens of
seller and/or construction borrower, receipt of applicable NCLTA form (or substantially similar form
approved by Company counsel prior to closing), completed and executed by all required parties in
compliance with the applicable form's instructions regarding same, to wit:
1) NCLTA Form 1, if no recent construction or addition of improvements on land, no executory contracts
for improvements on land and no construction loan by signing owner or borrower is contemplated; or
2) NCLTA Form 2, if construction on the land was recently completed, but no mechanics lien agent is
required to be appointed pursuant to NC law; or
3) NCLTA Form 3, if construction is in process or immediately contemplated (for loan, including
construction financing), but no mechanics lien agent is required to be appointed pursuant to NC law; or
4) NCLTA Form 5, Owner Affidavit and Indemnity Agreement when construction has been completed, is
contemplated or currently underway and a mechanics lien agent has been properly appointed pursuant to
NC law; and
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-B ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule B
Page 4
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InvestorsTifle Insurance Company
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Commitment No.: 202111757CH/RC/03
(a) for insurance regarding priority of conveyance by seller to insured owner and priority of insured lender's
deed of trust over potential liens, NCLTA Form 6 for waiver and release of lien rights, executed by
potential lien claimants with direct lien rights having filed a notice to lien agent or identified in paragraph
1.13 of NCLTA Form 5; or
(b) for insurance regarding only the priority of insured lender's deed of trust over potential liens NCLTA
Form 7 subordination of lien rights, executed by potential lien claimants with direct lien rights having filed a
notice to lien agent or identified in paragraph 1.B. of NCLTA Form 5.
7. If a mechanics' lien agent has been properly appointed pursuant to NC Law, a search for filed Notices to
Lien Agent must be updated 1 business day prior to recording of the deed/deed of trust to be insured.
8. Cancellation and release of record of the property described herein from the lien of:
Deed of Trust for the benefit of State Employees' Credit Union recorded in Book 3825, Page 155, securing
a note in the original principal sum of $85,000.00, and any other obligations secured thereby and/or
described therein.
In the event any lien to be paid and satisfied and cancelled of record is an Equity Line, the certifying
attorney must send a Request to Terminate letter in accordance with NCGS 45-82.2 to the Equity Line
lender along with the payoff check instructing the lender to mark the note and Deed of Trust paid and
satisfied and to return both documents for cancellation of record AND instructing the Equity Line lender to
close the account and issue no more checks or drafts after the date the payoff was quoted. (Sample
"Request to Terminate Letter' is available from this Company upon request.)
9. Certification of Termination of Memorandum of Agreement between Steven Gerald Greeson and
Environmental Banc & Exchange, LLC, recorded in Book 4070 at Page 809.
10. Duly authorized and executed conservation easement from Steven Gerald Greeson, vesting fee simple
title in Environmental Banc & Exchange, LLC, a Maryland limited liability company.
11. Recordation data for plat to be recorded.
12. Joinder of the spouse of the seller in the execution of the proposed deed, if applicable.
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-B ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule B
Page 5
202111757CH

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InvestorsTifle Insurance Company
Drawer 2687, Chapel »
.. 68.2200 11 invtitlexorn
Commitment No.: 202111757CH/RC/03
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-B ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule B
Page 6
202111757CH

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InvestorsTifle Insurance Company
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.. 68.2200 11 invtitle.corn
Commitment No.: 202111757CH/RC/03
SCHEDULE B, PART II - Exceptions
Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law.
This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule
B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or
recirculated. Only the remaining provisions of the document will be excepted from coverage.
The Policy will not insure against loss or damage resulting from the terms and conditions of any lease or easement
identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the
Company:
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 for the year 2023, and subsequent years, not yet due and payable.
3. Rights of others thereto entitled in and to the continued uninterrupted flow of Wolfs Creek and Mineral
Springs, located on the Land.
4. Riparian rights incident to the Land.
5. Rights or claims of parties in possession not shown by the public records. NOTE: This Exception could be
amended or deleted upon Receipt of Occupancy Affiidavit.
6. This policy does not insure against loss or damage arising from the inadequacy of the legal description.
NOTE: This Exception will be amend or deleted upon receipt of legal description matching current survey.
7. Fee simple interest of Steven Gerald Greeson and rights of underlying fee simple owner to use the
property in any way not inconsistent with the terms of the Conservation Easement.
8. Terms of the Conservation Easement from Steven Gerald Greeson to Environmental Banc & Exchange,
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-B ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule B
Page 7
202111757CH

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InvestorsTifle Insurance Company
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Commitment No.: 202111757CH/RC/03
LLC, a Maryland limited liability company, recorded in Book at Page
9. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that
would be disclosed by an accurate and complete land survey of the Land. The term "encroachment"
includes encroachments of existing improvements located on the Land onto adjoining land, and
encroachments onto the Land of existing improvements located on adjoining land. Paragraph 2 (c) of the
Covered Risks is hereby deleted.
NO INSURED CLOSING PROTECTION COVERAGE PROVIDED - As to the transaction for which this
binder and/or policy is issued, the Company specifically excludes this transaction from any closing
protection services.
**The following Exceptions Apply To the Easement Tract Only**
10. Easement(s) to State Highway Commission recorded in Book 376 at Page 71.
11. Title to that portion of the Land within the right-of-way of Mineral Springs Road.
12. Matters shown on recorded at
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of nuouATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-B ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Schedule B
Page 8
202111757CH

Investors Title Insurance Company.
P.O. Drawer 2687, Chapel Hill, North Carolina 27515-2687
[phone] • www.invtitle.com
ALTA COMMITMENT FOR TITLE INSURANCE
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, Investors Title Insurance Company, a North Carolina 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 Amount of Insurance and the name of the
Proposed Insured.
If all of the Schedule B, Part I —Requirements have not been met within 180 days after the Commitment Date, this
Commitment terminates and the Company's liability and obligation end.
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AME
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-J ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Page 1
202111757CH

Investors Title Insurance Company.
P.O. Drawer 2687, Chapel Hill, North Carolina 27515-2687
[phone] • www.invtitle.com
COMMITMENT CONDITIONS
1. DEFINITIONS
a. "Discriminatory Covenant": Any covenant, condition, restriction, or limitation that is unenforceable
under applicable law because it illegally discriminates against a class of individuals based on personal
characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status,
disability, national origin, or other legally protected class.
b. "Knowledge" or "Known": Actual knowledge or actual notice, but not constructive notice imparted by
the Public Records.
C. "Land": The land described in Item 5 of Schedule A and improvements located on that land that by
State law constitute real property. The term "Land" does not include any property beyond that
described in Schedule A, nor any right, title, interest, estate, or easement in any abutting street, road,
avenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent
that a right of access to and from the Land is to be insured by the Policy.
d. "Mortgage": A mortgage, deed of trust, trust deed, security deed, or other real property security
instrument, including one evidenced by electronic means authorized by law.
e. "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.
f. "Proposed Amount of Insurance": Each dollar amount specified in Schedule A as the Proposed
Amount of Insurance of each Policy to be issued pursuant to this Commitment.
g. "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to
be issued pursuant to this Commitment.
h. "Public Records": The recording or filing system established under State statutes in effect at the
Commitment Date under which a document must be recorded or filed to impart constructive notice of
matters relating to the Title to a purchaser for value without Knowledge. The term "Public Records"
does not include any other recording or filing system, including any pertaining to environmental
remediation or protection, planning, permitting, zoning, licensing, building, health, public safety, or
national security matters.
i. "State": The state or commonwealth of the United States within whose exterior boundaries the Land is
located. The term "State" also includes the District of Columbia, the Commonwealth of Puerto Rico,
the U.S. Virgin Islands, and Guam.
i. "Title": The estate or interest in the Land identified in Item 3 of 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.
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-J ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Page 2
202111757CH

Investors Title Insurance Company.
P.O. Drawer 2687, Chapel Hill, North Carolina 27515-2687
[phone] • www.invtitle.com
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 is not
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 is not 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 is only liable 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 does not exceed the lesser of the Proposed Insured's actual expense incurred
in good faith and described in Commitment Condition 5.a. or the Proposed Amount of Insurance.
e. The Company is not liable for the content of the Transaction Identification Data, if any.
f. The Company is not 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. The Company's liability is further limited by the terms and provisions of the Policy to be issued to the
Proposed Insured.
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-J ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Page 3
202111757CH

Investors Title Insurance Company.
P.O. Drawer 2687, Chapel Hill, North Carolina 27515-2687
[phone] • www.invtitle.com
6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT; CHOICE OF LAW AND
CHOICE OF FORUM
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 under the State law of the State where the Land is located and is
restricted to the terms and provisions of this Commitment. Any litigation or other proceeding brought
by the Proposed Insured against the Company must be filed only in a State or federal court having
jurisdiction.
C. 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 IS 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 closing, settlement, escrow, or
any other purpose.
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. CLAIMS PROCEDURES
This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to
the Proposed Insured. Commitment Condition 9 does not modify the limitations of liability in Commitment
Conditions 5 and 6.
10. CLASS ACTION
ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING
ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of ASSOCIATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-J ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Page 4
202111757CH

Investors Title Insurance Company.
P.O. Drawer 2687 Chapel Hill North Carolina 27515-2687
[phone] • www.invtitle.com
BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF
OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN
AN INDIVIDUAL CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR
PARTICIPANT IN ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED
PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION.
11. ARBITRATION
The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of Insurance is
$2,000,000 or less may be arbitrated at the election of either the Company or the Proposed Insured as the
exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at
http://www.alta.org/arbitration.
-5/A
President Secretary
This page is only a part of a 2021 ALTA Commitment for Title Insurance issued by Investors Title Insurance Company. This Commitment is
not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule 8, Part 1—Requirements;
Schedule 8, Part 11—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form.
Copyright 2021 American Land Title Association. All rights reserved. AMERICAN
IAND IITiE
The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of AuouATMN
the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
Form No. 201-21-J ALTA Commitment for Title Insurance 2021 v. 01.00 (07-01-2021)
Page 5
202111757CH

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
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.
Countersigned By:
Minette Van Goethem, Authorized Signatory
Authorized Officer or Agent
Chicago Title Insurance Company
By:
Attest:
Michael J. Nolan, President
Marjorie Nemzura, 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 1-Requirements; Schedule B, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 1 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
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: 20-06449DU
Property Address: Tract 1: 0 Mineral Springs Road, Graham, NC 27253
Tract 2, Graham, NC 27253
SCHEDULE A
1. Commitment Date: March 1, 2023 at 08:00 AM
2. Policy to be issued:
(a) ALTA Owner's Policy (06-17-06)
Proposed Insured: Environmental Banc & Exchange, LLC, a Maryland limited liability company
Proposed Policy Amount: $502,893.00
3. The estate or interest in the Land described or referred to in this Commitment is:
Conservation Easement
4. Title to the Fee Simple estate or interest in Land is at the Commitment Date vested in:
Marvin Morrow Newlin Family Limited Partnership, a North Carolina limited partnership
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM RICAN
Copyright American Land Title Association. All rights reserved. LAND T,T,F
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 2 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
5. The Land is described as follows:
Lying and being situate in Alamance County, North Carolina, and being more particularly described as
follows:
LEGAL DESCRIPTION
"CONSERVATION EASEMENT "B"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
218,413 S.F.
+/- 5.014 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTHEASTERN CORNER OF THE EASEMENT
DESCRIBED HEREIN; THENCE S37°16'22"E 170.66' TO A #4 REBAR; THENCE S33°20'23"W
400.96' TO A #4 REBAR; THENCE S50°26'20"W 349.08' TO A #4 REBAR IN THE LINE OF (NOW OR
FORMERLY) STEVEN GERALD GREESON, DEED BOOK 3217 PAGE 243; THENCE WITH THAT
LINE N31 °10'47"W 90.41' TO A CALCULATED POINT IN THE CENTERLINE OF AN UNNAMED
CREEK; THENCE ALONG THE CENTERLINE OF THE CREEK THE FOLLOWING THIRTEEN
(13) CALLS:
1. S59°51'23"W 121.68' TO A CALCULATED POINT
2. N49°33'29"W 31.50' TO A CALCULATED POINT
3. S65°20'53" W 88.12' TO A CALCULATED POINT
4. N78°47'36"W 54.30' TO A CALCULATED POINT
5. S57°48'35"W 55.16' TO A CALCULATED POINT
6. S17°00'13"E 35.08' TO A CALCULATED POINT
7. S66°14'17"W 217.07' TO A CALCULATED POINT
8. S82°30'12"W 164.55' TO A CALCULATED POINT
9. N62°40'27"W 185.55' TO A CALCULATED POINT
10. S72°57'57"W 91.08' TO A CALCULATED POINT
11. N78°44'48"W 211.06' TO A CALCULATED POINT
12. N29°17'24"W 72.92 TO A CALCULATED POINT
13. N58°42'58"W 43.71' TO A CALCULATED POINT; THENCE LEAVING THE CENTERLINE
OF THE CREEK AND THE LINE OF THE AFOREMENTIONED "GREESON" TRACT
N54°03'48"E 86.94' TO A #4 REBAR; THENCE S50°39'56"E 196.99' TO A #4 REBAR;
THENCE S87°55'05"E 486.88' TO A #4 REBAR; THENCE N64°27'27"E 389.01' TO A #4 REBAR;
THENCE N50°09'43"E 461.40' TO A #4 REBAR; THENCE N30°24'49"E 248.25' TO A #4 REBAR;
THENCE N45°56'45"E 118.87' TO THE POINT AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "C"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
619,817 S.F.
+/-14.229 AC.
BEGINNING AT A #4 REBAR HAVING COORDINATES ON THE NORTH CAROLINA STATE PLANE
COORDINATE SYSTEM OF N: 809,011.29 AND E: 1,913,653.34; THENCE N77°19'51 "E 112.13' TO A
#4 REBAR; THENCE S30°32'32"E 228.07' TO A #4 REBAR; THENCE S30°40'54"W 105.22' TO A #4
REBAR; THENCE S21 °39'27"E 63.06' TO A #4 REBAR; THENCE N76°43'52"E 350.67' TO A #4 REBAR;
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 3 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
THENCE S79°45'56"E 83.16' TO A #4 REBAR; THENCE N73°35'34"E 604.96' TO A #4 REBAR;
THENCE N87°59'04"E 150.64' TO A #4 REBAR; THENCE N53°15'21 "E 283.36' TO A #4 REBAR;
THENCE N61 °24'39"E 191.80' TO A #4 REBAR; THENCE N83°40'59"E 50.64' TO A #4 REBAR;
THENCE S72°18'33"E 135.82' TO A #4 REBAR; THENCE S15°15'38"W 99.69' TO A #4 REBAR;
THENCE S58°18'26"W 465.97' TO A #4 REBAR; THENCE S12°06'23"E 212.80' TO A #4 REBAR;
THENCE S17°27'23"W 68.91' TO A #4 REBAR; THENCE N79°42'10"W 127.49' TO A #4 REBAR;
THENCE N51 °24'47"W 44.23' TO A #4 REBAR; THENCE N11 °30'00"W 175.28' TO A #4 REBAR;
THENCE S79°54'49"W 446.93' TO A #4 REBAR; THENCE S70°43'26"W 480.57' TO A #4 REBAR;
THENCE S05°54'36"E 51.18' TO A #4 REBAR; THENCE S48°55'01 "E 467.85' TO A #4 REBAR;
THENCE S51 °00'00"W 141.61' TO A #4 REBAR; THENCE N57°15'58"W 91.04' TO A #4 REBAR;
THENCE N50°04'24"W 438.56' TO A #4 REBAR; THENCE S84°03'35"W 211.91' TO A #4 REBAR;
THENCE S56°26'39"W 270.58' TO A #4 REBAR; THENCE N37°11'08"W 156.87' TO A #4 REBAR;
THENCE N26°10'21 "E 108.50' TO A #4 REBAR; THENCE N61 °21'31 "E 301.46' TO A #4 REBAR;
THENCE N07°28'28"W 407.89' TO THE POINT AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "D"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
53,591 S.F.
+/- 1.230 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTHEASTERN CORNER OF THE EASEMENT
DESCRIBED HEREIN; THENCE S02°52'29"W 181.71' TO A #4 REBAR; THENCE S50°36'44"W 226.07'
TO A #4 REBAR; THENCE N74°34'59"W 148.36' TO A #4 REBAR; THENCE N10°57'21"E 60.73;
THENCE N44°42'04"E 105.23' TO A #4 REBAR; THENCE N57°56'56"E 284.69' TO THE POINT AND
PLACE OF BEGINNING.
"CONSERVATION EASEMENT "E"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
228,906 S.F.
+/- 5.255 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTHEASTERN CORNER OF THE EASEMENT
DESCRIBED HEREIN; THENCE S32°06'23"E 119.05' TO A #4 REBAR; THENCE S41 °58'50"W 822.39'
TO A #4 REBAR; THENCE S64°51'36"W 224.27' TO A #4 REBAR; THENCE S01 °43'38"E 55.99' TO A
#4 REBAR; THENCE S37°17'55"E 122.04' TO A #4 REBAR; THENCE N81 °32'37"W 172.41' TO A #4
REBAR; THENCE N32°06'53"W 83.51' TO A #4 REBAR; THENCE N31 °03'42"E 203.68' TO A #4
REBAR; THENCE N31 °42'04"E 223.55' TO A #4 REBAR; THENCE N32°04'00"E 188.05' TO A #4
REBAR; THENCE N58°27'23"E 309.50' TO A #4 REBAR; THENCE N43°55'16"E 198.83' TO A #4
REBAR; THENCE N71 °26'36"E 110.79' TO THE POINT AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "F"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 4 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
25,728 S.F.
+/- 0.591 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTHWESTERN CORNER OF THE EASEMENT
DESCRIBED HEREIN; THENCE S88°47'00"E 116.17' TO A #4 REBAR; THENCE S62°55'37"E 85.85' TO
A #4 REBAR; THENCE S15°29'55"E 100.35' TO A #4 REBAR; THENCE S55°59'29"W 100.65TO A #4
REBAR; THENCE N55°54'09"W 67.29' TO A #4 REBAR; THENCE N27°06'03"W 176.15' TO THE POINT
AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "G"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
110,126 S.F.
+/- 2.528 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTH CORNER OF THE EASEMENT DESCRIBED
HEREIN; THENCE S43°48'44"E 82.88' TO A #4 REBAR; THENCE S17'12'01 "E 116.91' TO A #4
REBAR; THENCE S07°07'17"E 282.30' TO A #4 REBAR; THENCE N74°07'12"E 63.31' TO A #4 REBAR;
THENCE S09°29'01 "E 179.81' TO A #4 REBAR; THENCE S75°43'26"W 235.91' TO A #4 REBAR;
THENCE N32°20'03"W 131.95' TO A #4 REBAR; THENCE N20°46'27"E 146.41' TO A #4 REBAR;
THENCE N01 °30'45"W 149.71' TO A #4 REBAR; THENCE N15°20'07"W 154.06' TO A #4 REBAR;
THENCE N31 °09'28"E 143.97' TO THE POINT AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "H"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
79,500 S.F.
+/- 1.825 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTHWESTERN CORNER OF THE EASEMENT
DESCRIBED HEREIN AND ALSO HAVING COORDINATES ON THE NORTH CAROLINA STATE
PLANE COORDINATE SYSTEM OF N: 811,151.61 AND E: 1,916,307.49; THENCE N63°14'59"E 203.52'
TO A #4 REBAR; THENCE S32°39'02"E 87.29' TO A #4 REBAR; THENCE S09°13'04"E 73.36' TO A #4
REBAR; THENCE S47°38'42"E 109.39' TO A #4 REBAR; THENCE S38°34'11 "E 189.23' TO A #4
REBAR; THENCE S31 °07'02"W 157.66' TO A #4 REBAR; THENCE N51 °01'48"W 155.52' TO A #4
REBAR; THENCE N24°01'58"W 135.60' TO A #4 REBAR; THENCE N36°00'26"W 158.05' TO A #4
REBAR; THENCE N55°21'07"W 108.04' TO THE POINT AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "I"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
258,193 S.F.
+/- 5.927 AC.
BEGINNING AT A #4 REBAR BEING THE MOST NORTH CORNER OF THE EASEMENT DESCRIBED
HEREIN; THENCE S16°31'03"E 125.24' TO AN EXISTING IRON PIPE; THENCE S29°41'04"E 235.80'
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 5 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
TO AN EXISITNG IRON PIPE; THENCE S19°51'29"E 126.87' TO AN EXISTING IRON PIPE; THENCE
N81 °35'49"E 393.98' TO AN EXISTING IRON PIPE; THENCE S16°41'23"E 167.13' TO A #4 REBAR;
THENCE S59°12'51 "W 427.12' TO A #4 REBAR; THENCE S66°21'13"W 214.84' TO A #4 REBAR;
THENCE N22°54'37"W 55.24' TO A #4 REBAR; THENCE N39°45'29"W 62.32' TO A #4 REBAR;
THENCE N09°33'34"W 636.72' TO A #4 REBAR; THENCE N81 °43'29"E 30.66' TO A #4 REBAR;
THENCE N29°10'55"E 137.97' TO THE POINT AND PLACE OF BEGINNING.
"CONSERVATION EASEMENT "J"
PARCEL IDENTIFICATION NUMBER (PIN) 161995
99,494 S.F.
+/- 2.284 AC.
BEGINNING AT AN EXISTING IRON PIPE BEING THE MOST NORTH CORNER OF THE EASEMENT
DESCRIBED HEREIN; THENCE S61 °24'05"E 141.40' TO AN EXISTING IRON PIPE; THENCE
S12°00'00"E 26.88' TO AN EXISTING IRON PIPE; THENCE S39°48'35"W 174.56' TO A #4 REBAR;
THENCE S43°30'15"W 136.96' TO A #4 REBAR; THENCE S59°07'03"W 159.24' TO A #4 REBAR;
THENCE N15°08'42"W 183.80' TO AN EXISTING IRON PIPE; THENCE N23°14'19"E 317.14' TO AN
EXISITNG IRON PIPE; THENCE N38°24'02"E 12.81' TO THE POINT AND PLACE OF BEGINNING.
TOGETHER WITH RIGHTS OF ACCESS OVER, ACROSS, AND THROUGH THE PROPERTY
(PARCEL ID: 161995) FOR THE PURPOSES OF GRANTEE AND THE THIRD -PARTIES ACCESSING
THE CONSERVATION EASEMENT AREA RECORDED IN BOOK , PAGE , ALAMANCE
COUNTY REGISTRY.
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 6 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
SCHEDULE B, PART I
Requirements
All of the following Requirements must be met:
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.
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. Deed of Conservation Easement from the authorized partner(s) of Marvin Morrow Newlin Family Limited
Partnership, a North Carolina limited partnership to Environmental Banc & Exchange, LLC, a Maryland
limited liability company.
b. Access Easement.
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.
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM RICAN
Copyright American Land Title Association. All rights reserved. LAND T,T,F
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
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Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
Receipt of applicable NCLTA form below (or substantially similar form approved by Company), completed,
executed and notarized, as follows:
NO RECENT (last 120 days) OR CONTEMPLATED CONSTRUCTION:
NCLTA FORM 1 (Owner Affidavit) from every seller (on sale) or borrower (on refinance) who has not contracted
for recent or contemplated improvements on the Land or for a construction loan.
NOTE: If a contract purchaser has contracted for or is contemplating improvements, see "CONSTRUCTION
CONTEMPLATED OR IN PROCESS" below.
RECENTLY COMPLETED IMPROVEMENTS:
Non -MLA project: NCLTA FORM 2 (Owner/Contractor Affidavit, Lien Waiver, and Indemnity) from every Owner
and every Contractor.
MLA project:
(1) Receipt of proof satisfactory to the Company that prior to closing or prior to first contracting for construction
(whichever occurs first),
(a) A Lien Agent was designated on the LiensNC.com website, AND
(b) The Appointment of Lien Agent was posted at the Land.
(2) NCLTA FORM 5 (Owner Affidavit) from every Owner; AND
(3) NCLTA FORM 6 (MLA Lien Waiver) from every PLC -MLA.
CONSTRUCTION CONTEMPLATED OR IN PROCESS:
Non -MLA project: NCLTA FORM 3 (Owner/Contractor Affidavit, Indemnity and Lien Subordination) (for lender
coverage only) from every Owner and every Contractor.
MLA project:
(1) Receipt of proof satisfactory to the Company that prior to closing or prior to first contracting for construction
(whichever occurs first):
(a) A Lien Agent was designated on the LiensNC.com website, AND
(b) The Appointment of Lien Agent was posted at the Land;
(2) NCLTA FORM 5 (Owner Affidavit) from every Owner; AND;
(3) NCLTA FORM 6 (MLA Lien Waiver) or NCLTA FORM 7 (MLA Subordination of Liens) from every PLC -MLA.
NOTE: If a contract purchaser has contracted for or is contemplating improvements prior to closing, see "NO
RECENT IMPROVEMENTS" above regarding seller lien affidavits as well.
MLA Project - MLA NOT Appointed Prior to Contracting for Labor Services or Materials:
In all cases in which an MLA was required but not (timely) appointed, prior approval and terms of coverage (if any)
by Company underwriting counsel is required.
Applicable Definitions:
"Non -MLA Projects": Improvements are (1) first contracted before April 1, 2013, (2) for a value less than $30,000
OR (3) solely for improvements to owner's existing residence. All other projects (other than public projects) are
"MLA projects".
"Owner" is holder of any interest in the Land, including leasehold owner or contract purchaser.
"Potential Lien Claimant" (or "PLC - MLA") is any person (or entity) entitled to file a claim of lien on real property
(herein "Liens"), for providing labor, services, (including design professionals such as surveyors, architects,
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
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Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
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.
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 Marvin Morrow Newlin Family Limited
Partnership, a North Carolina limited partnership (herein "Entity") in its state or country of organization, (2)
recordation of a certificate issued by the Secretary of State of North Carolina (or any competent authority of the
Entity's jurisdiction of organization) of any articles or certificates of conversion, consolidation, merger, or other
change(s) of name since deed vesting Title in Entity or its predecessor(s) in the Office of the Register of Deeds of
the county in which the Land is located, and (3) authority of individual(s) executing documents on behalf of Entity
to enter into the transaction to be insured on its behalf.
12. 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.
13. 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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
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Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
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 2023, 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 Book 67, Page 10; Plat Book 81, Page 249;
Plat Book 81, Page 252; Plat Book 81, Page 291; and Plat Book 81, Page 318, Alamance County Registry.
5. Rights of tenants in possession, as tenants only, under unrecorded leases. (To be deleted upon receipt of
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.)
6. Right(s) of way to Duke Power Company recorded in Book 119, Page 545; Book 185, Page 270 and Book 239,
Page 124, Alamance County Registry.
7. Deed of Easement recorded in Book 2011, Page 591, Alamance County Registry. (AS TO CONSERVATION
EASEMENT "J" ACCESS EASEMENT PARCEL ONLY)
8. Boundary Line Agreement recorded in Book 2212, Page 146, Alamance County Registry. (AS TO
CONSERVATION EASEMENT "J" ACCESS EASEMENT PARCEL ONLY)
9. [INTENTIONALLY DELETED MARCH 9, 2023]
0lomonno Go linty Registpi
10. Right of Way Agreement to Duke Energy Corporation recorded in Book 2463, Page 193, Alamance County
Registry.
11. Right of Way Agreement to Public Service Company of North Carolina, Inc. recorded in Book 331, Page 168,
Alamance County Registry. (AS TO CONSERVATION EASEMENT "J" ACCESS EASEMENT PARCEL ONLY)
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM Ii ICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
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Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
12. Riparian and/or littoral rights incident to the Land; rights of others in and to the continuous and uninterrupted flow
of the waters bounding or crossing the Land and riparian and/or littoral rights incident to the Land; and title to any
portion of the Land owned by any governmental entity including, but not limited to, marsh, dredged and/or filled
areas and Land below the mean high-water mark.
13. The correctness of the square footage/acreage computation contained in the description of the Land is not
insured.
14. Any right, easement, setback, interest, claim, encroachment, encumbrance, violation, variation, boundary line
overlap or other adverse circumstance affecting the Title disclosed by survey entitled "LAND CONSERVATION
EASEMENT, "TOBACCO ROAD MITIGATION SITE by Christopher L. Cole with Ascension Land Surveying
P.C., P.L.S., dated January 31, 2023.
15. Terms and conditions of Deed of Conservation Easement from Marvin Morrow Newlin Family Limited Partnership,
a North Carolina limited partnership to Environmental Banc & Exchange, LLC, a Maryland limited liability company
recorded in Book , Page , Alamance County Registry.
16. Easement to Duke Energy Carolinas, LLC recorded in Book 4292, Page 224, Alamance County Registry.
17. Access Easement recorded in Book , Page , Alamance County Registry.
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM RICAN
Copyright American Land Title Association. All rights reserved. LAND T,T,F
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 11 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM RICAN
Copyright American Land Title Association. All rights reserved. LAND T,T,F
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
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Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
COMMITMENT CONDITIONS
DEFINITIONS
(a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records.
(b) "Land": The land described in Schedule A and affixed improvements that by law constitute real property. The term "Land" does not include
any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads,
avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be
insured by the Policy.
(c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law.
(d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company
pursuant to this Commitment.
(e) "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.
(f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant
to this Commitment.
(g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of
matters relating to real property to purchasers for value and without Knowledge.
(h) "Title": The estate or interest described in Schedule A.
2. If all of the Schedule B, Part I -Requirements have not been met within the time period specified in the Commitment to Issue Policy, this
Commitment terminates and the Company's liability and obligation end.
3. The Company's liability and obligation is limited by and this Commitment is not valid without:
(a) the Notice;
(b)
the Commitment to Issue Policy;
(c)
the Commitment Conditions;
(d)
Schedule A;
(e)
Schedule B, Part I -Requirements;
(f) Schedule B, Part II -Exceptions; and
(g) a counter -signature by the Company or its issuing agent that may be in electronic form.
4. COMPANY'S RIGHT TO AMEND
The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse
claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment
Condition 5. The Company shall not be liable for any other amendment to this Commitment.
5. LIMITATIONS OF LIABILITY
(a) The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between
the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the
Proposed Insured's good faith reliance to:
(i) comply with the Schedule B, Part I -Requirements;
(ii) eliminate, with the Company's written consent, any Schedule B, Part II -Exceptions; or
(iii) acquire the Title or create the Mortgage covered by this Commitment.
(b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of
the matter and did not notify the Company about it in writing.
(c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the
Commitment included the added matter when the Commitment was first delivered to the Proposed Insured.
(d) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in
Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount.
(e) The Company shall not be liable for the content of the Transaction Identification Data, if any.
(f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B,
Part I -Requirements have been met to the satisfaction of the Company.
(g) In any event, the Company's liability is limited by the terms and provisions of the Policy.
6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT
(a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.
(b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.
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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM RICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 13 NC-CT-FSAC-01080.365396-20-06449DU

Chicago Title Insurance Company ALTA Commitment for Title Insurance
Commitment Number: 20-06449DU Revision #3 MARCH 9, 2023
(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.ora/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 8, Part 1-Requirements; Schedule 8, Part 11-Exceptions; and a counter -signature by the
Company or its issuing agent that may be in electronic form.
AM RICAN
Copyright American Land Title Association. All rights reserved. LAND TITIF
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. r
ALTA Commitment for Title Insurance (08-01-16) Printed: 03-09-23 @ 11:25 AM
101046D0102.doc / Updated: 09.12.22 Page 14 NC-CT-FSAC-01080.365396-20-06449DU

I LEGEND cERrlflc -o zHRVEr AND ALaRALr —
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Table 7. Tobacco Road, 102567, Project Credits
' T-113,ff,,(ft2):���
•�
Total Ephemeral Area(ft')for Credit: 1
o a
Total Eligible Ephemeral Area(ft'): 159,597 c.o% Ephemeral Reachesas%TABM
Enter Preservation Credits Below Total Elieihle far Preservation Ift21: 159,597 2— Preservation as %TABM
Preservation Area Subtotals (ft`):l 505,863 I 159,597
1. The Randleman Lake buffer rules al low some ditches to be classified as subject accordi ng to 15A NCAC 026 .0250 (5)(a).
last updated OS/03/2020

Buffer and Nutrient Offset Credit release schedule
TOTAL Credit.
Credit Release#
%
Buffer
Nitrogen
Phosphorus
NOTES
Instrument and Buffer Mifigafion & Nutrient Offset Plan Approved by D WR, Draft
St,— tland Mifigafion Plan Approved by MT, Comservafion Easement Recorded
We
1
and Assigned according to Item B(1)of Sedion X in this I..—ent has been
ompleted and approved by DWR.* and Firma al Assurance Posted
All Riparian Earth-15 P1anfing and Installation of Monitoring Devices Completed
Re ted ques
2
EasementBoundan.—aquatOymarked and all applicablepermits obtai-a
stream and wdland mitigadetion adivifi es completed and a site 0 sit performed by
20%
3
Monitoring Flnand al Assurance Posted and Approval of As -Built Report
10%
4
Monitoring Report#1: Approved by the DWR**& financial assurance renewed
10%
5
Monitoring Report#2: Approved by the DWR**& financial assurance renewed
10%
6
Monitoring Report#3: Approved by the DWR**& financial assurance renewed
10%
Monitoring Report#4: Approved by the DWR**& financial assurance renewed
5%
Monitoring Report#S:ApprovedbytheDWR**andfinalsitevisitbyDWRhasbeem
$
co.Zted
10%

Mitigation Bank Construction
e rfo r mance Bon d
Bond No. 612402577 Penal Surn: $ 150.000.00
Know All Men By These Presents,
That we, Environmental Banc & Exchange, LLC of 6575 West Loop South, Suite 300, Bellaire, TX
77401 (hereinafter called the Principal), as Principal, and United States Fire Insurance Company with an
office at 305 Madison Avenue, Morristown, NJ 07960, a corporation. duly organized under the laws of
the State of Delaware (hereinafter called the "Surety"), as Surety, are held and firmly bound unto the
North Carolina Department of Environ mental Quality -Division of Water Resources, 1617 Mail
Service Center, Raleigh, NC 27699-1617, (hereinafter called the "Obligee"), as Obligee, up to the
maximum penal sum of One Hundred and Fifty Thousand and 00/100 Dollars ($150,000.00)
(hereinafter called the "Maximum Penal Sum"), for the payment of which we, the Principal and the
Surety, bind ourselves, our heirs, executors, administrators, successors and assigns,jointly and severally,
firmly by these presents.
WHEREAS, the Principal has entered into the RES Tobacco Road Mitigation Banking Instrument
(hereinafter called the "MBI") with the Obligee, dated the 18t' day of July, 2023, which includes the Buffer
Mitigation and Nutrient Offset Plan (hereinafter called the BMP) for the Tobacco Road Mitigation Project
(the "Mitigation Project") where financial obligations by the Principal are explicitly written and agreed upon
between the Principal and the Obligee, The MBI, BMP and Mitigation Project are hereby referred to and
made a part hereof as if fully set forth herein.
WHEREAS, the Principal has received approval of their BMP by the North Carolina Division of Water
Resources ("NCDWR") and that the NCDWR has granted the necessary approval, subject to the posting
by the Principal of this Bond (the "Bond"), to insure full compliance with all the terms and conditions of
the MBI and BMP; NCDWR #2021-0536v1.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden
Principal shall successfully complete construction and obtain written approval of an as- built report from the
Obligee, then this obligation shall be null and void; otherwise it shall remain in full force and effect. This
Bond is subject to the following conditions:
1) Obligee will issue a full and final release of this Bond Upon successful
completion of construction and approval of an as -built report, or ii) other
security, in the amount of and covering the same obligations stated herein, is
posted with the Obligee.
2) If any payment under this Bond, as set forth in subsection 3 b) below, is
made, then the outstanding penal sum of the Bond shall be reduced by the
corresponding amount of such payment. Notwithstanding anything contained
herein to the contrary, the aggregate liability of the Surety is limited to the
Maximum Penal Sum stated above regardless of the number or amount of
claims brought against this bond and regardless of the number of years this
bond remains in effect. The Obligee shall issue a full and final release of this
Bond and any and all of Surety's obligations hereunder when Surety has
tendered payment in whole, or in parts equal to the aggregate sum,

3) The Surety's obligation under this Bond shall only arise after the Obligee has
notified the Principal and the Surety of the Principal's failure to abide by the terms
and conditions of the MBI and BMP. Upon notice of the Principal's default under the
MBI and BMP, the Surety, in its sole discretion, shall remedy the Principal's default
either under subsection 3) a) or 3) b) below. In the event that the Surety either fail s to
respond to Obligee's notice of default within thirty (30) business days of receipt of
said notice, or fails to honor Surety's commitments under this bond to the full
satisfaction of the Obligee, then Surety shall remedy such default in accordance with
subsection 3) c) below.
a) Surety shall remedy Principal's default to the full satisfaction of the Obligee by
a reasonable date certain set by the Obligee; or
b) Surety shall immediately tender to a party, or parties, identified by the
Obligee the entire, or a portion thereof the, Maximum Penal Sum, that the
Obligee has determined is due in an effort to remedy the Principal's default.
In no event shall any portion of the Maximum Penal Sum be tendered to the
ObI igee. Any new party or parties identified by the Obl igee under this
section shall immediately become a Surety or Sureties under this bond for the
remaining term of the bond. If the Obligee determines that it is unable to
identify such a party, or parties, the Surety (ies) shall remedy the default of
the Principal under subsection 3) a) of this bond;
c) The Surety shall pay to a party, or parties, identified by the Obl igee the
remaining unexpended portion of the Maximum Penal Sum. Said sum shall
become immediately due to a party, or parties, identified by the Obligee. In no
event shall such sum be tendered to the Obligee. Any new party or parties
identified by the Obligee under this paragraph shall immediately become a
Surety or Sureties under this bond for the remaining term of the bond.
NOTWITHSTANDING ANYTHING CONTAINED IN THE AGREEMENT TO THE
CONTRARY, THE LIABILITY OF THE PRINCIPAL AND SURETY UNDER THIS BOND IS
LIMITED TO THE TERM BEGINNING THE 27th OF July ,2023,AND ENDING
THE 27th DAY OF July , 2024 AND ANY EXTENSIONS OR RENEWALS OF THE
REFERENCED AGREEMENT SHALL BE COVERED UNDER THIS BOND ONLY WHEN
CONSENTED TO IN WRITING BY THE SURETY. IT IS FURTHER AGREED THAT THE
REFUSAL BY THE SURETY TO EXTEND THE TERM OF THIS BOND SHALL NOT
CONSTITUTE A DEFAULT BY THE PRINCIPAL AND SHALL NOT GIVE RISE TO A CLAIM
OR DEMAND AGAINST THE SURETY UNDER THIS BOND.
In accordance with 33 C.F.R. § 332.3(n)(5), the Surety shall provide the Obligee notification
of at least 120 days in advance of termination, revocation, or modification of this bond.
No right of action shall accrue on this bond to or for the use of any person or corporation other
than the Obligee named herein, or their heirs, executors, administrators or successors.
The above -bounden parties have executed this instrument under their several seals, dated this
27t day of , 2023, the name and corporate seal of each corporate party

being affixed and these presents duly signed by its undersigned representative, pursuant to
authority of its governing body.
Principal: Environmental Bane & Exchange, LLC
By:
Surety: United States Fire Insurance Company
By:\Wk �,KWI VJ.,AAA
Vailessa Dominguez, Atiiornwey-in-a�
Obligee: North Carolina Department of Enironmental
Quality — Division of Water Resources
By:

POWER OF ATTORNEY
UNITED STATES FIRE INSURANCE COMPANY
PRINCIPAL OFFICE - MORRISTOWN, NEW JERSEY
KNOW ALL MEN BY THESE PRESENTS: That United States Fire Insurance Company, a corporation duly organized and existing under the laws of the
state of Delaware, has made, constituted and appointed, and does hereby make, constitute and appoint: Lupe Tyler; Lisa A. Ward; Donna L.
Williams; Vanessa Dominguez; Erin M. Dennison; Andrea M. Penaloza; Amanda George; Terri L. Morrison;
Gina A. Rodriguez; Misty Wright each, its true and lawful Attorney(s)-hi-Fact, with full power and authority hereby conferred in its naive, place
and stead, to execute, acknowledge and deliver: Any and all bonds and undertakings of surety and other documents that the ordinary course of surety business
may require, and to bind United States Fire Insurance Company thereby as fully and to the same extent as if such bonds or undertakings had been dully
executed and acknowledged by the regularly elected officers of United States Fire Insurance Company at its principal office, in amounts or penalties not
exceeding: One Hundred Twenty Five Million Eight Hundred Thousand Dollars ($125,80 ,000)
This Power of Attorney limits the act of those named therein to the bonds and undertakings specifically named therein, and they have no authority to
bind United States Fire Insurance Company except in the manner and to the extent therein stated.
This Power of Attorney revokes all previous Powers of Attorney issued on behalf of the Attomeys-In-Fact mined above and expires on January 1, 2023.
This Power of Attorney is granted pursuant to Article IV of the By -Laws of United States Fire Insurance Company as now in full force and effect,
and consistent with Article III thereof, which Articles provide, in pertinent part:
Article IV, Execution of Instruments - Except as the Board of Directors may authorize by resolution, the Chairman of the Board, President, any
Vice -President, any Assistant Vice President, the Secretary, or any Assistant Secretary shall have power on behalf of the Corporation:
(a) to execute, affix the corporate seal manually or by facsimile to, acknowledge, verify and deliver any contracts, obligations, instruments and
documents whatsoever in connection with its business including, without limiting the foregoing, any bonds, guarantees, undertakings,
recognizances, powers of attorney or revocations of any powers of attorney, stipulations, policies of insurance, deeds, leases, mortgages,
releases, satisfactions and agency agreements;
(b) to appoint, in writing, one or more persons for any or all of the purposes mentioned in the preceding paragraph (a), including affixing the
seal of the Corporation.
Article III, Officers, Section 3.11, Facsimile Signatures. The signature of any officer authorized by the Corporation to sign any bonds,
guarantees, undertakings, recognizances, stipulations, powers of attorney or revocations of any powers of attorney and policies of insurance
issued by the Corporation may be printed, facsimile, lithographed or otherwise produced. hn addition, if and as authorized by the Board of
Directors, dividend warrants or checks, or other numerous instruments similar to one another in form, may be signed by the facsimile signature
or signatures, lithographed or otherwise produced, of such officer or officers of the Corporation as from time to time may be authorized to sign
such instruments on behalf of the Corporation. The Corporation may continue to use for the purposes herein stated the facsimile signature of
any person or persons who shall have been such officer or officers of the Corporation, notwithstanding the fact that he may have ceased to be
such at the time when such instrurments shall be issued.
IN WITNESS WHEREOF, United States Fire Insurance Company has caused these presents to be signed and attested by its appropriate officer and
its corporate seal hereunto affixed this I I" day of March, 2021.
UNITED STATES FIRE INSURANCE COMPANY
Anthony R. Slnmowicz, Executive Vice President
State of New Jersey }
County of Morris }
On this 111 day of March 2021, before me, a Notary public of the State of New Jersey, came the above named officer of United States Fire
Insurance Company, to me personally known to be the individual and officer described herein, and acknowledged that he executed the foregoing
instriunent and affixed the seal of United States Fire Insurance Company thereto by the authority of his office.
SONIA SCALA
NOTARY PUBLIC OF NEW JERSEY Sonia Scala, (Notary Public)
MY COMMISSION EXPIRES 3/25/2024
No. 2163696
I, the undersigned officer of United States Fire Insurance Company, a Delaware corporation, do hereby certify that the original Power of Attorney of which
the foregoing is a full, true and correct copy is still in force and effect and has not been revoked.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of United States Fire Insurance Company on the27thday
of July 20 23
S
UNITED STATES FIRE INSURANCE COMPANY
Daniel Sussman, Senior Vice President
*For verification of the authenticity of the Power of Attorney, please contact Pat Taber at 860-956-3424 or email: SuretyInguiries ri am ry ntagroup.com