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1 0 <br />HNN 19 NACE 336 <br />STATE OF NORTH CAROLINA <br />CONSERVATION EASEMENT <br />COUNTY OF LEE OPTION CONTRACT AGREEMENT <br />THIS CONSERVATION EASEMENT OPTION CONTRACT AGREEMENT (the <br />"Agreement"), made as of the 14__ day of=, 2003, by and among Lee County, whose address <br />is P.O. Box 1968, Sanford, NC 27331, individually (hereinafter referred to as "Seller"), and <br />RUMMEL, KLEPPER & KAHL, LLP, a Maryland limited liability partnership (hereinafter <br />referred to as "Purchaser"), whose address is 5800 Faringdon Place, Raleigh, North Carolina 27609 <br />(Purchaser and Seller, together with their successors, heirs or assigns, are hereinafter collectively <br />referred to as the "Parties"). <br />WHEREAS, for and in consideration of One Dollars (S 1 .00) (herein the "Option <br />Money"), the receipt of which is acknowledged by Seller, and subject to the conditions hereinafter <br />set forth, Seller hereby grants Purchaser, its successors and assigns, the right and option to acquire <br />a Conservation Easement over certain land of the Seller hereinafter described. The terms and <br />conditions of this Option are as follows: <br />Section 1.0 Purchaser agrees to submit to The North Carolina Department of <br />Transportation (NCDOT) a technical proposal and a cost proposal to provide <br />stream mitigation in the Cape Fear River Basin (Cataloging Unit 03030003) <br />on a portion of Seller's property located at 1800 Wicker Street, Sanford, NC <br />in Lee County, North Carolina. The stream mitigation area consisting of up <br />to seven (7.0) acres is shown on Attachment No. 1 (the "Easement Area'). <br />Section 1.1 The Option shall exist and continue for a period of three hundred sixty-five <br />(365) days from the date of this Contract. Purchaser shall have the right to <br />extend the Option for two (2) successive periods ofthirty(30) days each upon <br />written notice to Seller. Seller grants Purchaser the permission, during the <br />period of this Option, to enter the Easement Area to conduct studies and <br />investigations, including but not limited to soil studies, environmental <br />inspections, tests and assessments, surveys and any other matters in <br />Purchaser's sole discretion to determine whether or not the properly is <br />suitable for the purposes and intended use of the Purchaser and to receive <br />approval from the NCDOT. <br />Section 1.2 Ifthe proposed stream mitigation submitted by the Purchaser is accepted by <br />