Resolution_Conservation Easement_Teanaway Ridge LLC

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D. Floodplain fill and grading authorized by FD -20-00004 is mitigated by an off-site compensatory storage pond located on the Burdened Property. E. Grantor proposes to impose the herein Conservation Easement to legally protect the compensatory storage pond, as required by KCC 14.08.315. NOW THEREFORE, subject to the terms and conditions set forth below, Grantor, for good and valuable consideration, receipt, and sufficiency of which is hereby acknowledged, grants and conveys to Grantee a Conservation Easement on the following terms and conditions: Agreement 1. Grantor, pursuant to KCC 14.08.315, hereby declares a Conservation Easement against the Burdened Property, legally described, and depicted on Exhibit A hereto, to prohibit any activities that would reduce the required compensatory storage pond volume (19,045.4 cubic yards) or would reduce the hydrologic connection during the one (1) percent annual chance flood event. The herein declaration is made in connection with and expressly conditioned on Grantee's final and binding approval that flood development permit FD -20-00004 requirements have been satisfied. 2. In connection with such declaration, the Parties understand and agree that, for so long as the Conservation Easement shall remain in effect, Grantor, its heirs, successors, and assigns, shall not be permitted to undertake any construction or improvements on the Burdened Property that reduce the required compensatory storage pond volume (19,045.4 cubic yards) or hydrologic connection during the one (1) percent annual chance flood event. 3. Following imposition of the Conservation Easement, Grantor shall continue to privately own and manage the Burdened Property, it being the mutual intent of the Parties that the grant of protection hereunder shall not exceed that necessary to legally protect the compensatory storage pond. Except as specifically provided herein, imposition of the Conservation Easement shall not restrict or prohibit Grantor, its heirs, successors, and assigns, from using or undertaking any activity on the Burdened Property as allowed by local, state, and federal law. 4. The grantor is responsible for all maintenance required to preserve the required compensatory storage pond volume (19,045.4 cubic yards) or hydrologic connection during the one (1) percent annual chance flood event. 5. Grantee, upon advance permission from Grantor, or pursuant to a validly issued search warrant, shall be entitled to access the Burdened Property for the limited purpose of monitoring Grantor's compliance with this Conservation Easement. 6. This Conservation Easement does not grant or permit public access to any portion of the Burdened Property. 7. This Conservation Easement shall run with the land and shall be binding on successors, assigns, heirs of Grantor and Grantee, until such time, if ever, as terminated in the matter provided by law. Conservation Easement - 2