Recorded Deed - Blue Jay Land Co

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WHEREAS, the residential development rights upon county approval and properly extinguished from a designated sending site become Transfer of Development Rights Density Credits ('TDR Density Credits"), as they are defined in KCC 17.13.015(7), and then can be applied, pursuant to the TDR Program, to eligible "receiving sites" as they are defned in KCC 17.13.015(l). WHEREAS, Transfer of Development Rights Easement (*TDRE") means an easement placed on the Sending Site that eliminates the possibility of residential development on said sending site, as further defined in KCC 17.13.015(8). WHEREAS, the purpose of the TDRE is to provide public benefits by permanently protecting various types of land from residential development including but not limited to rural farms, farm land, forest land, land identified as a critical area or frequently flooded area as identified in KCC 17A through the extinguishment of the residential development rights allowed on the Property, as proved for in KCC 17.13, with those lands being desigrrated as "sending sites." All other rights of ownership, including the right to continue to use or create new operations of such businesses as farming, timber harvesting, sports and recreation, and other uses permitted within the zone remain with the owner of the underlying fee title as provided for in KCC 17.13. WHEREAS, development rights that may be transferred from desigrrated sending sites to eligible receiving sites shall be documented under the TDR Program in one or more TDR Density Credit certificates, a process which requires the recording of a TDR conservation easement encumbering the sending site property to indicate the extinguishment of the possibility of Residential Development on the property. WIfiREAS, on May 31,2024, Grantor submitted an application to designate the Properly as a sending site as provided under Kittitas County Code ('KCC") chapter 17.13, and to obtain TDR Density Credit(s) certificate(s) for transfer from the Property to eligible receiving sites. The TDRApplication materials submitted by Grantor are on file with the County, in the Community Development Services Office under File No. TD-24-00001 Blue Jay Land Company, and are incorporated herein by this reference as if set forth in full. Grantor represents that these application materials reflect existing conditions on the Property as of the date this Easement is executed. WHEREAS, the County has determined that the Property qualifies as a sending site under the TDR Program. The County has determined that the Property has a total of 21 TDR Density Credit(s) available to transfer from the Properby to eligible receiving sites. WHEREAS, a TDR Density Credit Certificate Letter of Intent has been issued by Kittitas County, attached hereto as Exhibit B, to the Grantor for the Property stating that the Sending Site will provide 2l TDR Credits. WHEREAS, Grantor now desires to document the residential development limitations on the Property nscessary securing the above identifred TDR Credits by granting a Transfer of Development Rights Easement (*TDRE") on the Properly on the terms set forth herein; WHEREAS, Grantor and Grantee agree that the Residential Restrictions defined herein shall run with the land and bind the Property in perpetuity; WHEREAS, this easement may be modified as provided for in KCC 17.13.080 (4) and as firther 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.