Hairpin Ranch_Purchase and Sale Agreement_FINAL_1.16.20

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FINAL DRAFT 1/1612020 The terms and conditions of the ALE Deed run with the land and are binding upon the Grantor and Grantee and their respective heirs, successors, agents, assigns, lessees, and any other person claiming under them, any and all of whom must comply with all terms and conditions of this ALE Deed, including the following: 1. Limitation on Impervious Surfaces. Impervious surfaces will not exceed 2% of the Protected Property, excluding NRCS-approved conservation practices. Impervious surfaces are defined as material that does not allow water to percolate into the soil on the Protected Property, including, but not limited to, buildings with or without flooring, paved areas, and any other surfaces that are covered by asphalt, concrete, or roofs. This limitation does not include public roads or other roads owned and controlled by parties with rights superior to those rights conveyed to Grantee by this ALE Deed. 2. Limitations on Nonagricultural Uses. Any activities inconsistent with the Purpose of the ALE are prohibited. The following activities are inconsistent with the Purpose of the ALE and are specifically prohibited, subject to the qualifications stated below: (A) Subdivision — The Protected Property shall not be further divided or subdivided, and shall not be separately conveyed as more than three (3) separate parcels (three (3) divisions allowed), the boundaries and the allocation of the impervious surface limitation for which have been identified in Exhibit B, which is appended to and made a part of this ALE Deed. To protect the Purpose of the ALE, the boundaries of such divisions have been preapproved in writing by Grantee and the Chief of NRCS or the Chief's authorized designee (Chief of NRCS). Deviations from the identified boundaries will not be allowed. Grantor must give Grantee and the Chief of NRCS written notice prior to separately conveying a parcel of the Protected Property. (B) Industrial or Commercial Uses — Industrial or commercial activities on the Protected Property are prohibited except for the following: (i) Agricultural production and related uses in accordance with the terms and conditions of this ALE Deed; (ii) The sale of excess power generated in the operation of renewable energy structures and associated equipment or other energy structures that Grantee approves in writing as being consistent with the Purpose of the ALE and in accordance with the terms and conditions of this ALE Deed; (iii) Temporary or seasonal outdoor activities or events that do not harm the Purpose of the ALE; and (iv) Commercial enterprises related to agriculture or forestry. (C) Construction on the Protected Property — All new structures and improvements must be located within the Building Envelope(s), containing approximately twenty (20) acres Exhibit F