TD-24-00004 Williamson - Applicant Signed Conservation Easement

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WHEREAS, this easement may be modified as provided for in KCC 17.13.080 (4) and as further defined in this document. NOW, THEREFORE, in consideration of the foregoing recitals, which are hereby incorporated by reference, and the mutual covenants and agreements set forth herein, the parties agree as follows: Section 2. Conveyance, Consideration and Perpetual Duration 1. The foregoing recitals are hereby incorporated into and made a substantive part of this Agreement as if fully set forth herein. 2. This agreement establishes a Transfer of Development Rights Easement ("TDRE"), as provided for in KCC 17.13. over and on the Property. 3. In consideration of the mutual covenants, terms, conditions, and restrictions contained in this Transfer of Development Rights Easement ("TDRE"), Grantor hereby voluntarily grants, conveys and warrants to Grantee a TDRE, as provided for in KCC 17.13, on and over the Property subject only to the terms and restrictions contained in this TDRE. 4. This TDRE is a conveyance of an interest in real property under the provisions of RCW 64.04.130. 5. Grantor expressly intends that this TDRE runs with the land and that this Easement be perpetually binding upon Grantor, Grantor's successors and assigns unless terminated due to changed circumstances as provided in Section 8 herein. Section 3. Purpose. The purpose of this TDRE is to remove the possibly of residential development on qualifying farm land, forest land, land containing critical areas and/or frequently flooded areas, as provided for in KCC 17.13, by transferring residential development rights from those lands, designated as "sending sites," to other eligible locations, known as "receiving sites". This is achieved by acquiring and extinguishing the residential development rights on sending sites and converting them into TDR Density Credits. The program allows for the transfer of these credits to receiving sites to increase density beyond the underlying zoning limitations. Uses of the sending site(s) after extinguishment of the residential development rights are allowed pursuant to KCC 17.13 and the underlying zoning code. Section 4. Rights Conveyed to Grantee. To accomplish the Purpose, the following rights are provided to Grantee by this Easement: 1. The right to enter the Property at reasonable times in order to monitor Grantor's compliance with and to enforce the terms of this Easement, provided that such entry shall be conducted with a minimum of 24 calendar -day written notice. Such visit shall not in any case unreasonably interfere with Grantor's use and quiet enjoyment of the