Hairpin Ranch_Purchase and Sale Agreement_FINAL_1.16.20

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FINAL DRAFT 1/16/2020 18.7 "Grantor" - "Grantee" — "Co -Grantee". The terms "Grantor," "Grantee," and "Co -Grantee," wherever used in this instrument, and any pronouns used in the place thereof, shall be held to mean and include, respectively the above-named Grantor and its successors and assigns, the above-named Grantee and its successors and assigns, and the above-named Co -Grantee and its successors and assigns. The term "Grantor" shall also include any party taking ownership of the Protected Property, or any portion thereof, subsequent to the foreclosure of any mortgage or deed of trust. 18.8 Successors. The covenants, terms, conditions, and restrictions of this Easement shall be binding upon, and inure to the benefit of, the Parties and their respective successors and assigns, and to any party taking ownership of the Protected Property, or any portion thereof, subsequent to the foreclosure of any mortgage or deed of trust, and shall continue as a servitude in perpetuity with the Protected Property. 18.9 Captions. The captions in this instrument have been inserted solely for convenience and ease of reference and are not a part of this instrument and shall have no effect upon construction or interpretation. 18.10Counterparts. The Parties may execute this instrument in two or more counterparts, which shall, in the aggregate, be signed by both Parties; each counterpart shall be deemed an original instrument as against any party who has signed it. In the event of any disparity between the counterparts produced, the recorded counterpart shall be controlling. 18.11Authority. The individuals signing below, if signing on behalf of any entity, represent and warrant that they have the requisite authority to bind the entity on whose behalf they are signing. 18.12Recitals. The Parties agree that the terms and recitals set forth in Section 1 (among other terms of this Easement) are material to this Easement, and that each Party has relied on the material nature of such terms and recitals in entering into this Easement. Each term and recital set forth in Section 1 is fully incorporated into this Easement. 19 This Grand Deed of Agricultural Conservation Easement is acquired with funds provided, in part, under the Agricultural Conservation Easement Program (ACEP). The EXHIBIT F is attached hereto and incorporated herein by reference and will run with the land in perpetuity. As required by 16 U.S.C. Section 3865 et seq. and 7 CFR Part 1468, and as a condition of receiving ACEP funds, all present and future use of the Protected Property identified in EXHIBIT A (legal description or survey) is and will remain subject to the terms and conditions described in EXHIBIT Fentitled Minimum Deed Terms For The Protection Of Agricultural Use that is appended to and made a part of this easement deed. 20 SCHEDULE OF EXHIBITS -34-