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Section 2. Conveyance, Consideration and Perpetual Duration l - The f:<rregoing recitals are hereby incorporated into and madc a substantive part of this Agreement as if fully set forih herein. Z. This agreement establishes a Transfer of Development Rights Easement C'TDRE'), as provided for in KCC I 7. 1 3. over and on the ProPertY. 3. In consideration of the mutual covenants, temrs, conditions, and restrictions contained in this Transfer of Developrnent Rights Easement ("TDRE'), Grantor hcreby voluntarily grants, conveys and warrants to Grantee a TDRE, as provided forin 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. Granror expressly intends that this TDRE runs with the land and that this Easement be perpetually binding upon Grantor, Grantor's successors and assigns unless terrninated 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 farmland, forest land, land containing critical areas and/or frequently flooded aieas, as provided lo; in KCC l7'13. by transferring residential devclopment rights from thbse lands, designated as "sending sites," to other eligible locations, known as "receiving sites". This is aohieved by acquiring and extinguishing the residential development rights on sending sites and converting them into TDR Density Crcdits. The program allows for the transfer of these credits to receiving sites to increasc density beyond the underlying zoning limitations' Uses of the sending site(s) afler 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: l. The right to enter the Propcrty at reasonable times in order to monitor Grantor's compliance with and to cnforce the terms of this Easement, provided that such entry shall be conducted with a minimum of 24 calentlar-clay written notice. Such visit shall not in any case unreasonably interfere with Grantor's use and quiet enjoyment ofthe Property. No right ofaccess by the general public to the Property is authorized by this Easement without the Grantor's prior consent. Z. The right to enforce the terms of this Easernent, as provided for in Section 7, including the right to require the restoration of the Properfy to its condition prior to any violation of the terms of this Easement. 3. No other rights are granted to Grantee other than those listed in Subsections l. and 2' of this section- Section 5. Prohibited Uses and Activities. l. Grantor is prohibited from engaging in or permitting any of the following uses or activities on the Properry: Z. Grantor shall not use lhe Residential Development Rights now or hereafter associated with the Property for Residential Development as the Residential Development Rights afe permanently removed and extinguished from the ProPertY. 3. Grantor shall not undertake any division, subdivision or partitioning olthe Property, rvhether by physical or legal process, which includes, but is not limited to, any subdivision, short subdivision, platting, binding site plan, administrative segregations, boundary line adjustments, intervening ownership, one-time lot split, or other process by which the Property is divided into lots or in which title to different portions of the Property are not held in unified ownership ("Land Division"), unless such Land Division allocates the Reserved Development Rights, if any, between the divided parcels of Property in a manner consistent with the terms