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WHERSAS, chapter 17.13 of the Kittitas County Code (the "TDR Program") authorizes the transfer of residential development rights from "sending sites"' as they are defined in KCC l7'13' 015(2), which permanently removes the residential development rights in those qualiffing areas as listed in the TDR Program including but not limited to farmland, forest land, frequently flooded lands, and land containing identified Critical Areas as provided for in Kittitas County Code Chapter l7A' 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 TDRProgram' to eligible "receiving sites" as they are defined 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. l3.0ls(8). WIIEREAS, the purpose of the TDRE is to provide public benefits by permanently protecting various types of land from residential development including but not timited to rural farms, farm land, forest land, land identified as a critical area or frequently flooded area as identified in KCC l?A through the extinguishment of the residential development rights allowed on the Property, as proved for in KCC 17.13, with those lands being designated as ,'sending sitcs." All other rights of ownership, including the right to continue to use or create new operations of such businesses as farming, timber hawesting, sports and recrcation, and other uses permitted within the zone remain with the owner of the underlying fee title as provided for in KCC 17.13. WIEREAS, development rights that may be hansferred from designated 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 rccording of a TDR conservation easement encumbering the sending site property to indicate the extinguishrnent of the possibility of Residential Development on the properfy. WHEREAS, on October 28,2024,Grantor submitted an application to designate the Property as a sending site as provided under Kittitas County Code ("KCC") chapter 17.13, and to obtain TDR Density Credit(s) certificate(s) for hansfer from the Property to eligible receiving sites. The TDR Application materials submitted by Grantor are on file with the County, in the Community Development Services Ofiice under File No. TD-24- 00007 Granite Creek East LLC, and are incorporated herein by this reference as if set fortb in full. Grantor represents that these application materials reflect existing conditions on the Property as ofthe date this Easement is executed. WIIEREAS, the County has determined that the Property qualifies as a sending site under the TDR Program. The Counry has determined that the Property has a total of thirty (30) TDR Density Credit(s) available to transfer from the Property to eligible receiving sites. WIIEREAS, a TDR Density Credit Certificate Letter of Intent has been issued by Kittitas Counry attached hereto as Exhibit B, to the Grantor for the Property stating that the Sending Site will provide thirty (30) TDR Density Credit(s). WHEREAS, Grantor now {esires to document the residential development limitations on the Property necessary securing the above identified TDR Credits by granting a Transfer of Development Rights Easement ('TDRE ) on the Property 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; WIIEREAS, this easement may be modified as provided for in KCC 1?.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 agteements set forth herein, the parties agee as follows: