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Draft 4 4 <br /> Date: October 26, 2012 <br /> CONSERVATION EASEMENT <br /> This is a CONSERVATION EASEMENT granted by John E. Babcock and Nancy K. Babcock, <br /> husband and wife, (the "Owner") to the Minnesota Land Trust, a non-profit corporation <br /> organized and existing under the laws of the State of Minnesota(the "Land Trust".) <br /> BACKGROUND <br /> A. OWNER. The Owner is the current owner of approximately 26 acres of real property located <br /> in Sherburne County, Minnesota. That real property is more fully described below as the <br /> "Protected Property." <br /> The Protected Property is part of a larger tract of land owned by the Owner. <br /> B. MINNESOTA LAND TRUST. The Minnesota Land Trust is a non-profit corporation <br /> organized and operated exclusively for charitable and educational purposes including the <br /> preservation and protection of land in its natural, scenic or other open space condition. The <br /> Land Trust is a public charity as defined in Sections 501(c)(3) and 509(a) of the Internal <br /> Revenue Code and an organization qualified to hold conservation easements under <br /> Minnesota law and Section 170(h) of the Internal Revenue Code and related regulations, <br /> possessing the commitment to protect the conservation purposes of this conservation <br /> easement and the resources to enforce the restrictions. <br /> C. PROTECTED PROPERTY. The Protected Property is that real property legally described in <br /> Exhibit A and generally depicted on the "Property Map" in Exhibit B. Both exhibits are <br /> attached to this conservation easement and incorporated by this reference. <br />