S01_Powell Appraisal Request Packet.pdf

Mini Cabin e

Rushcreek Lake

Mini Cabin e

RRuussshhccrrreeerrr eek LLaakkkee

Access Point Ingress/Egress

Esri Community Maps Contributors, © OpenStreetMap, Microsoft, Esri, TomTom, Garmin, SafeGraph, GeoTechnologies, Inc, METI/NASA, USGS, EPA, NPS, US Census Bureau, USDA, USFWS, Maxar

Jeffrey R Powell RLT & Tracy A Powell RLT

NEST ID 545E342501YZ8

Easement Boundary Map

Date: 11/21/2024Location: VMS 3327 & 9823, Jefferson & Rushcreek Twp., Logan Co., Ohio

0 660 1,320330 Feet

Distance to Existing Protected Wetland: 0.0 mi.

Distance to Wetlands in WRE offer: 0.27 mi.

Maximum Riparian Buffer Width: 557 ft.

Upper Left: 83°41'32"W 40°24'38"N

Powell WRE: 34.38 ac.

Logan_County_Parcels

D R A

FT

D R A

FT

440 M 527 Subpart E (amended April 2024) 1

Title 440 – Conservation Programs Manual

PART 527 – Easement Common Provisions Subpart E – Appraisal

Amended April 2024

527.40 General

A. This subpart provides NRCS policy on determining easement value using appraisals. Easement valuation policy may also be found in other program policy.

The policy in this subpart and subpart F do not invalidate any other easement appraisal policy unless there is a conflict, in which case the policy in this subpart and subpart F shall prevail.

B. The authorized official must request all appraisal reports or services in writing from the appraiser using the applicable NRCS appraisal specifications and statement of work for the NRCS easement program (see section 527.260). The NRCS appraisal specifications and statement of work may not be changed without the written approval of the NRCS national appraiser. In the rare cases where changes are recommended, contact the NRCS national appraisers at NRCS.NationalAppraisers@usda.gov.

1. For entity-held easements, the eligible entity is responsible for obtaining the appraisal report and providing it to NRCS. The appraisal must identify the eligible entity as the client and NRCS as an intended user.

2. For the Emergency Watershed Protection Program (EWPP) – Floodplain Easement (FPE) with residences, the sponsor may obtain the appraisal report.

NRCS must be a client on all EWPP-FPE appraisals. Payment processes for the appraisal are determined by the sponsor agreement.

3. For all other NRCS easement program appraisals, NRCS obtains and pays for the appraisal reports through a contract, purchase card, or agreement. In all cases, NRCS must be identified as the client.

C. All appraisals must comply with NRCS appraisal specifications and statement of work. Appraisals for programs other than the Agricultural Conservation Easement Program (ACEP) Wetland Reserve Easement (WRE) and Regional Conservation Partnership Program (RCPP) ACEP-WRE must consider the terms of the conservation easement, including the conservation values being protected and the level of restrictiveness of the easement, as applicable. ACEP-WRE and RCPP- ACEP-WRE appraisals determine market value of the area before the conservation easement is placed on the property.

mailto:NRCS.NationalAppraisers@usda.gov

440 M 527 Subpart E (amended April 2024) 2

D. NRCS easement acquisition appraisals must be completed according to the Uniform Standards of Professional Appraisal Practice (USPAP), except as follows. For entity-held easements under the ACEP – Agricultural Land Easement (ALE), RCPP-ACEP-ALE, and RCPP, the eligible entity may:

1. With approval and documented in the program agreement, obtain appraisals completed according to the Uniform Appraisal Standards for Federal Land Acquisitions (UASFLA, commonly referred to as the “Yellow Book”).

2. Request to use another industry-approved method that follows program-specific policy and procedures to determine the market value of the easement.

This will be on a project-by-project basis with any other industry approved methods or alternative easement valuation method documented in the program agreement or other EPD approved agreement as appropriate.

E. All appraisals used for acquisition of NRCS program easements must undergo a technical appraisal review (technical review). All technical reviews are obtained or completed by NRCS.

F. NRCS will not accept an appraisal that lists the landowner as the client. The landowner cannot be a party to the hiring or directing of the appraisal assignment.

G. States and the Easement Acquisition Branch (EAB) must submit all appraisals, along with the technical review, to the national appraiser through the Program Activity Management Solution (PAMS) or successor process.

527.41 Easement Programs Division Duties and Responsibilities

A. The Easement Programs Division (EPD) policy branch chief is the valuation authority for NRCS easement programs and relies upon the expertise and professional recommendation of NRCS national appraisers and other EPD experts to provide leadership on easement valuation processes. Easement valuation includes appraisals, Area Wide Market Analyses (AWMA), technical reviews, and, for ACEP-WRE and RCPP-ACEP-WRE only, geographic area rate caps.

B. Appraisals and technical reviews for 2018 Farm Bill RCPP easements require national appraiser review and approval regardless of easement value. For other programs, the NRCS national appraiser reviews and approves both the appraisal and the technical review when the following value thresholds are met.

1. For ACEP-ALE and 2014 Farm Bill RCPP-ACEP-ALE: when the easement value exceeds $3 million.

2. For all other programs: when the appraised value exceeds $1.5 million.

C. Based on the program, NRCS national appraiser approvals must be done as follows.

1. For US-held easements: prior to NRCS making an offer.

2. For entity-held easements with noncertified entities and entity-held easements acquired through a buy-protect-sell transaction or an RCPP alternative

440 M 527 Subpart E (amended April 2024) 3 funding arrangement, regardless of entity certification status: before issuing the federal share of the payment to the eligible entity.

3. For ACEP-ALE and RCPP-ACEP-ALE easements with certified entities using certified entity provisions in the parcel contract, there is no review except as part of the quality assurance review conducted after easement acquisition in certain cases.

Note: Technical reviews and approvals must be done according to subpart F of this part.

D. In order to provide required oversight and maintain a strong control environment, EPD reviews compliance with appraisal requirements on a sampling of appraisals and technical reviews every year. The samples include the first appraisal completed by an appraiser, the first technical review completed by a review appraiser, and at least 10 percent of the appraisals done each year. EPD chooses which appraisals to review.

1. Compliance reviews are conducted after the technical review is completed and are not required before closing.

2. Issues found during the compliance review must be addressed. If the compliance review was conducted before closing, the issues must be addressed before the easement may be closed. If conducted after closing, the issues must be addressed as specified by the EPD Policy Branch.

E. The NRCS national appraisers are the points of contact for NRCS state office staff, EAB, NRCS contracting staff, contracted appraisers, and review appraisers. The national appraisers can be emailed at NRCS.NationalAppraisers@usda.gov.

F. The NRCS national appraisers answer technical questions, interpret appraisal specifications, and provide guidance or action on easement appraisal issues, including but not limited to:

1. Resolving conflicts in technical review specifications and conducting periodic teleconferences with review appraisers.

2. Conducting technical reviews when contract review appraisers are not available or in other circumstances as determined by EPD.

3. Providing guidance for ensuring that the United States is receiving equal or greater economic value for easement administration actions.

4. Providing guidance on the applicability of a particular property to an approved

AWMA.

G. Consult the NRCS national appraiser if there is uncertainty on whether an appraiser is qualified to perform work for NRCS.

mailto:NRCS.NationalAppraisers@usda.gov

440 M 527 Subpart E (amended April 2024) 4

527.42 Appraisal Type

A. There are two types of appraisal reports for NRCS easement programs: market value appraisal reports and conservation easement appraisal reports.

B. For ACEP-WRE and RCPP-ACEP-WRE only: market value appraisal reports provide the “as is” market value of the property on which the ACEP-WRE easement will be placed. The appraisal must comply with USPAP and NRCS ACEP-WRE appraisal specifications.

C. For all non-ACEP-WRE and non-RCPP-ACEP-WRE enrollments: conservation easement appraisal reports are “before and after” appraisals. The appraisal provides the market value of the easement property area before the easement is placed and the market value of the easement property area after the easement is placed. The difference in the two values shows the effect of the easement on the property or the value of the easement.

527.43 Appraiser Qualifications

A. The appraisal will be either a market value appraisal or a conservation easement appraisal, as defined in section 527.42, depending on the applicable easement program. Below are qualifications an appraiser must have to conduct each type of appraisal.

1. Market value appraisals: In accordance with Title XI of the Financial

Institutions Reform, Recovery and Enforcement Act of 1989, appraisers must be a state-certified general real property appraiser or have a temporary practice state-certified general real property appraiser permit in all states where the subject property is located and be in good standing with the issuing licensing authority. The appraiser must comply with USPAP and have demonstrated competency in conducting appraisals of properties of the requested type. Appraisers whose credentials were suspended because of disciplinary action by the licensing authority of any state within the past 5 years are disqualified.

2. Conservation easement appraisals: In addition to the above requirements, appraisers must have experience conducting appraisals with and without conservation easements. Appraisers must have completed either a conservation easements valuation course or eminent domain course. A conservation easements valuation course is preferred. For appraisals completed under UASFLA, the appraiser must have completed a UASFLA course and have experience completing UASFLA appraisals.

B. For US-held easement enrollments, a copy of the appraiser’s state license documentation of the education requirements must be included with the bid submission. The contracting officer reviews the licensing credentials and experience of the contractor and must approve the contractor before work begins.

The contracting officer must contact the NRCS national appraiser to resolve any qualification questions before issuing the contract award. For appraisals being

440 M 527 Subpart E (amended April 2024) 5 acquired with a purchase card or other appropriate mechanism consult the national appraisers to review vendor qualifications before obtaining the appraisal.

C. For entity-held easement enrollments, the eligible entity is responsible for obtaining the appraisal and providing a copy to NRCS. The eligible entities must ensure the appraiser meets the qualifications before ordering an appraisal.

Appraisals completed by appraisers not meeting NRCS qualifications and statement of work will not be accepted.

D. Documentation of the appraiser’s experience and education must be included in the appraisal report for any type of appraisal.

527.44 Appraisal Reports

A. NRCS easement programs use appraisal reports to understand the property and market characteristics. Because many NRCS users will not personally inspect the property nor be familiar with the local area and market, the appraisal report must include the necessary details to explain and support the property description, highest and best use analysis, market characteristics, adjustment process, and conclusions so that all reviewers and NRCS users understand the statements, opinions, and conclusions in the report.

B. For appraisals ordered by NRCS, a project sponsor, or the eligible entity, the following information must be provided to the appraiser except where otherwise noted.

1. Recorded landowner’s name, address, and telephone number.

2. Written permission to enter the property from the landowner or an authorized representative.

3. Aerial photograph of the subject property with labels or other annotation identifying the location of the proposed easement area, access to the easement area, easement boundary, an estimate of the acres in the proposed easement, and, when available, the location and acreage of any existing agreement, contract, or easement of any type that is associated with the property.

4. Legal description of subject or parent property and preliminary legal description of the proposed easement area or survey, if available.

5. Copy of the draft easement deed for the applicable program. Do not provide a draft easement deed for ACEP-WRE or RCPP-ACEP-WRE.

Note: For all other easement types, the individual easement deed and exhibits that will be recorded must be provided.

6. Specific details of any existing easements, reservations, or other restrictions currently encumbering the subject property, as provided by the landowner.

7. Documentation of production data provided by the landowner.

8. Documentation of water rights owned, including the name of the irrigation company and the number of shares or amount of ownership, and irrigation

440 M 527 Subpart E (amended April 2024) 6 wells on the property to be appraised as provided by the landowner. If water rights are included in the easement area, documentation identifying the volume of water rights to be retained for the subject property as required by the specific NRCS easement program.

9. Current information of title of ownership, such as copies of deeds.

10. If available, completed preliminary certificate of inspection and possession, landowner disclosure worksheet, hazardous materials landowner interview, hazardous materials field inspection checklist, and any information on hazardous substances that may be found on the property to be appraised.

11. When available, copy of preliminary title commitment or report covering the proposed easement area.

12. Copy of the draft baseline documentation report, as applicable for the easement program and as available.

13. Copy of the easement management plan, conservation plan, or restoration plan of the proposed easement area, if applicable and as available.

14. Copy of the recorded written access to the easement area, evidence that the property is accessible from a public road, or NRCS-approved alternative legal access route.

15. Copy of the applicable program appraisal specifications and statement of work.

C. The following material must be stored in the hardcopy easement case file in fireproof and waterproof safes or filing cabinets. Electronic copies must be stored in the appropriate easement business tool (e.g., National Easement Staging Tool or Conservation Desktop):

1. A copy of the approved appraisal.

2. Technical review report approving the appraisal.

3. Any national appraiser approval of an appraisal and technical review.

4. A copy of any update to an appraisal, if applicable.

527.45 Confidential Nature of Appraisals

A. Appraisers must abide by the confidentiality provisions of the ethics rule of

USPAP.

B. Appraisals obtained by NRCS are not releasable to anyone before acquisition of the easement.

C. Appraisers must identify any information in the appraisal report that is proprietary sensitive or that must be kept confidential.

D. After the appraisal is accepted by NRCS and acquired the easement, the public may request to see the appraisal report under the Freedom of Information Act, which may result in the release of all or part of the appraisal report to the public.

440 M 527 Subpart E (amended April 2024) 7

The landowners may request a copy of the appraisal under the Privacy Act after acquisition.

527.46 Appraisal Expiration, Changes, and Updates

A. Appraisals may be revised because of significant changes in acreage due to survey or configuration; expiration of the appraisal before obligation; identification of access or other title issues that may affect the easement value; or, for ACEP-ALE, RCPP-ACEP-ALE, or RCPP, changes to the conservation easement deed terms.

Revision may also be needed to update value estimates, provide additional support or explanation, or correct a previous report.

1. The appraiser who completed the original appraisal may be required to update the original appraisal if:

a. The useful life of the appraisal (normally 12 months) needs to be extended to allow more time for obligation; or

b. A survey indicates that the acreage, footprint of the easement, or access, title, or deed terms have changed and NRCS has determined that these changes are within scope.

2. The appraiser will provide an update to the appraisal as part of a new assignment. Per USPAP, a more current value or analysis of a property that was the subject of a previous assignment does not extend that assignment.

Rather, it creates a new appraisal assignment that must be completed as discussed in USPAP Advisory Opinion 3 (AO-3):

3. USPAP AO-3 allows three options for the appraiser to satisfy USPAP reporting requirements. The appraiser may provide a new report that: 1) does not incorporate the previous report, 2) incorporates by attachment specified information or analysis from the previous report, or 3) incorporates by reference specified information or analysis from the previous report. The appraiser decides which option to use.

4. New, revised, and updated appraisals must meet the applicable NRCS appraisal specifications and incorporate the identified changes. Generally, new appraisals or updates to a previous appraisal will need a technical review (see Subpart F for more information).

B. Validity Period. Only appraisals with a current date of value (effective date) and, as applicable, an approved technical review, and as required an approved national appraiser review are valid for NRCS easement programs. The appraisal effective date must meet the specific program requirements as follows unless a shorter useful life is identified by the technical reviewer and approved by the national appraiser.

1. For ACEP-WRE, EWPP-FPE, Healthy Forests Reserve Program (HFRP), and

RCPP US-held easements, the effective date of the appraisal must be within 12 months of the landowners and NRCS executing the enrollment agreement.

Once the agreement is executed by all required parties, the appraisal will not

440 M 527 Subpart E (amended April 2024) 8 expire. If an approved appraisal has an effective date older than 12 months before the agreement is executed by all parties, the appraisal is expired and a new appraisal report with a more current effective date of value is required before an offer can be made and an obligation completed.

Note: For EWPP-FPE enrollments using the pre-disaster date as the effective date, the appraisal will not expire once the technical review is approved.

2. For entity-held easements, the effective date of the appraisal must be no earlier than 12 months before the parcel’s obligating document is executed or modified to identify a substitute parcel and must be before the closing date of the easement on the parcel.

a. Entities that are considering applying for ACEP-ALE or RCPP-ACEP-

ALE cost-share assistance are encouraged to provide the appraisers with the NRCS ACEP-ALE appraisal specifications and statement of work at the time the appraisal is acquired (see section 527.260).

b. For ACEP-ALE or RCPP-ACEP-ALE standard transactions with certified entities on parcel contracts utilizing the certified entity provisions, the appraisal will not be reviewed by NRCS before payment and closing, but a technical review or national appraiser review may be conducted after the easement is acquired as part of the quality assurance and compliance review processes.

C. Expiration. The appraisal expires when the effective date is older than the time periods specified in paragraph B above or is beyond the useful life period as stated in the technical review. If the appraisal expires, a new appraisal is required.

D. Acreage Changes and Footprint Changes. When the surveyed acreage changes the footprint or size of the original property or easement boundary, either an updated appraisal or administrative adjustment is required. The national appraisers must assist with the application of administrative adjustments as needed for situations not covered in the appraisal statement of work. Please submit requests for assistance with administrative adjustments through PAMS.

1. Acreage Changes

a. In cases where the appraisal was completed without the benefit of a legal survey and the footprint is unchanged, the acres and price may be administratively adjusted by the national appraiser.

b. An updated appraisal is required when the surveyed acreage deviates more than 10 percent from the acres in the original appraisal, unless the initial appraisal reports a specific acreage range or the national appraiser determines that an updated appraisal is not needed.

2. Footprint Changes

a. When the easement footprint reported in the appraisal has minor changes, the acres and price may be administratively reconciled by the national appraiser. Minor easement boundary changes that remain largely reflective of the original easement footprint (in terms of size, configuration, location, 440 M 527 Subpart E (amended April 2024) 9 and land type) are suitable for administrative adjustment as determined by the national appraiser.

b. An updated appraisal is required when the size of the easement footprint changes more than 10 percent or when the revised easement footprint is not similar to the original appraised footprint, unless otherwise approved by the national appraiser.

E. Substitution of Land. Substituted land requires a new appraisal. Land is considered substituted when the land proposed for the easement is different from the parcel identified in the appraisal.

F. Changes in Access or Title Conditions. Contact the original appraiser to review any access or title changes. Changes in title conditions do not include encumbrances that will be released or subordinated before closing. The original appraiser will complete an update to the previous appraisal consistent with guidance contained in USPAP AO-3.

G. Changes to Deed Terms (entity-held easements only). For appraisals conducted based on a draft easement deed, the eligible entity must provide NRCS with documentation of the effect of changes made to the final deed terms on the original appraised value before the planned easement closing date. To accomplish this, the eligible entity must obtain an update of the previous appraisal from the original appraiser. The appraisal update will be reported consistent with guidance in USPAP AO-3.

File No.: 23-1215

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by FIDELITY NATIONAL TITLE INSURANCE COMPANY. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

27C276B35 27C276B35 ALTA Commitment For Title Insurance 08/01/2016 180 days 04/02/2018 C276B_OH Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

COMMITMENT FOR TITLE INSURANCE

Issued by

FIDELITY NATIONAL TITLE INSURANCE COMPANY

NOTICE

IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE

INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT

OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT.

THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE

NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED.

THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER

PERSON.

COMMITMENT TO ISSUE POLICY

Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions, FIDELITY NATIONAL TITLE INSURANCE COMPANY, a Florida corporation, (the “Company”), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured.

If all of the Schedule B, Part I—Requirements have not been met within 180 days after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end.

FIDELITY NATIONAL TITLE INSURANCE COMPANY

By:

President

By:

Authorized Signatory James A. Saad Star Title Agency, LLC 500 S Front St Ste 250 Columbus, OH 43215-7632 Tel:614-396-3294 Fax:614-396-3297

Attest:

Secretary emiller James A. Saad

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by FIDELITY NATIONAL TITLE INSURANCE COMPANY. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

27C276B35 27C276B35 ALTA Commitment For Title Insurance 08/01/2016 180 days 04/02/2018 C276B_OH Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.

COMMITMENT CONDITIONS

1. DEFINITIONS

a. “Knowledge” or “Known”: Actual or imputed knowledge, but not constructive notice imparted by the

Public Records.

b. “Land”: The land described in Schedule A and affixed improvements that by law constitute real property. The term “Land” does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy.

c. “Mortgage”: A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law.

d. “Policy”: Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment.

e. “Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.

f. “Proposed Policy Amount”: Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment.

g. “Public Records”: Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge.

h. “Title”: The estate or interest described in Schedule A.

2. If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the

Commitment to Issue Policy, this Commitment terminates and the Company’s liability and obligation end.

3. The Company’s liability and obligation is limited by and this Commitment is not valid without:

a. the Notice;

b. the Commitment to Issue Policy;

c. the Commitment Conditions;

d. Schedule A;

e. Schedule B, Part I—Requirements; and

f. Schedule B, Part II—Exceptions; and

g. a counter-signature by the Company or its issuing agent that may be in electronic form.

4. COMPANY’S RIGHT TO AMEND

The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment.

5. LIMITATIONS OF LIABILITY

a. The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to:

i. comply with the Schedule B, Part I—Requirements;

ii. eliminate, with the Company’s written consent, any Schedule B, Part II—

Exceptions; or

iii. acquire the Title or create the Mortgage covered by this Commitment.

b. The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing.

c. The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured.

d. The Company’s liability shall not exceed the lesser of the Proposed Insured’s actual expense

This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by FIDELITY NATIONAL TITLE INSURANCE COMPANY. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form.

27C276B35 27C276B35 ALTA Commitment For Title Insurance 08/01/2016 180 days 04/02/2018 C276B_OH Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.

incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount.

e. The Company shall not be liable for the content of the Transaction Identification Data, if any.

f. In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company.

g. In any event, the Company’s liability is limited by the terms and provisions of the Policy.

6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT

a. Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.

b. Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment.

c. Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment.

d. The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy.

e. Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.

f. When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy.

7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT

The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company’s agent for the purpose of providing closing or settlement services.

8. PRO-FORMA POLICY

The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure.

9. ARBITRATION

The Policy contains an arbitration clause. All arbitrable matters when the Proposed Policy Amount is $2,000,000 or less shall be arbitrated at the option of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at <http://www.alta.org/arbitration>.

http://www.alta.org/arbitration

COMMITMENT FOR TITLE INSURANCE

Issued by

Fidelity National Title Insurance Company

SCHEDULE A

File No: 23-1215

1. Commitment Effective Date: December 12, 2023 at 07:00 am

2. Policy (or Policies) to be issued: Proposed Policy Amount:

(a) ALTA® U.S. Policy Form (9-28-91) Revised (12-3-12) $1.00

Proposed Insured: United States of America

3. The estate or interest in the land described or referred to in this Commitment is Conservation Easement.

4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in:

As to an undivided 50% interest: Jeffrey R. Powell, Trustee of the Jeffrey R. Powell Revocable Living Trust, U/A October 13, 2014 As to an undivided 50% interest: Tracy A. Powell, Trustee of the Tracy A. Powell Revocable Living Trust, U/A October 13, 2014

Source of Title: Official Record Volume 1279, page 894, Logan County records.

5. The land referred to in this Commitment is described as follows:

SEE ATTACHED EXHIBIT "A"

NOTE: Insured should keep copies of all attachments, as no other copies will follow the final title policy.

INSURANCE FRAUD WARNING:

Any person who, with intent to defraud or knowing that he is facilitating a fraud against an insurer, submits an application or files a claim containing a false or deceptive statement is guilty of insurance fraud.

JAMES A. SAAD, ESQ., PRESIDENT

500 S. Front St., Suite 250 Columbus, OH 43215 Ph. 614-396-3296 Fax 614-396-3297

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule A

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

Fidelity National Title Insurance Company

SCHEDULE A

(Continued)

EXHIBIT "A"

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule A

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

Stamp

(Continued)

EXHIBIT "A"

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule A

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

(Continued)

EXHIBIT "A"

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule A

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

emiller Stamp

(Continued)

EXHIBIT "A"

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule A

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

emiller Stamp

(Continued)

EXHIBIT "A"

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule A

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

emiller Stamp emiller Text Box emiller Text Box

Text Box

Fidelity National Title Insurance Company

SCHEDULE B, PART I

Requirements

File No. 23-1215

All of the following Requirements must be met:

1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions.

2. Pay the agreed amount for the estate or interest to be insured.

3. Pay the premiums, fees, and charges for the Policy to the Company.

4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records.

Grant of Easement from Jeffrey R. Powell, Trustee of the Jeffrey R. Powell Revocable Living Trust, 5.

U/A October 13, 2014 and Tracy A. Powell, Trustee of the Tracy A. Powell Revocable Living Trust, U/A October 13, 2014, to the United States of America by and through the Natural Resources Conservation Service (NRCS) or the Commodity Credit Corporation, United States Department of Agriculture.

Legal description for the Easement being acquired by the Proposed Insured.6.

Approval, if required, of legal description by the County Engineer and other applicable authorities for 7.

a transfer.

Affidavit(s) of title satisfactory to the Company.8.

Subordination Agreements and Limited Lien Waivers from prior recorded lienholders for the benefit 9.

of to the United States of America by and through the Natural Resources Conservation Service (NRCS) or the Commodity Credit Corporation, United States Department of Agriculture.

Payment of taxes and assessments shown below as due and payable, if any:10.

As to 55.076 acres: Taxes for the year 2022 in the amount of $4,348.60 per half are paid. Assessed

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule B, Part I

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

SCHEDULE B, PART I

(Continued)

Valuations: $101,710 Land; $126,720 Building; $228,430 Total. Auditor's Parcel Number 12-080-00-00- 001-005.

As to 23.00 acres: Taxes for the year 2022 in the amount of $389.12 per half are paid. Assessed Valuation: $21,640 Land; $1,650 Building; $23,290 Total. Auditor's Parcel Number 40-066-00-00-046- 001.

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule B, Part I

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

Fidelity National Title Insurance Company

SCHEDULE B, PART II

Exceptions

File No. 23-1215

THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR

LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE

EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES

STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION,

GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN.

The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company:

Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public 1.

Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I - Requirements are met.

Any facts, rights, interests or claims which are not shown by the public records which could be ascertained 2.

by an inspection of said land or by making inquiry of persons in possession thereof.

Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that 3.

would be disclosed by an accurate and complete land survey of the Land. The term “encroachment” includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land.

Any lien or right to a lien, for services, labor or materials heretofore or hereafter furnished, imposed by law 4.

and not shown by the public records.

Rights of parties in possession of all or any part of the premises.5.

Roads, ways, streams, or easements, if any, not shown by the public records, riparian rights and the title to 6.

any filled-in lands.

Taxes or assessments approved, levied or enacted by the State, County, Municipality, Township or similar 7.

taxing authority, but not yet certified to the tax duplicate of the County in which the land is situated, Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule B, Part II

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is hereby replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

SCHEDULE B, PART II

(Continued) including any retroactive increases in taxes or assessments resulting from any retroactive increase in the valuation of the land by the State, County, Municipality, Township or other similar taxing authority.

All assessments and taxes for the year 2023 and all subsequent years.8.

As to the Loan Policy only: Oil and gas leases, pipeline agreements or any other instruments related to the 9.

production or sale of oil and gas which may arise subsequent to the date of the Policy.

Coal, oil, natural gas, or other mineral interests and all rights incident thereto now or previously conveyed, 10.

transferred, leased, excepted or reserved.

Mortgage from Tracy A. Powell and Jeffrey R. Powell, wife and husband, to Mortgage Electronic 11.

Registration Systems, Inc., solely as nominee for the First Federal Savings and Loan Association of Lakewood, its successors and/or assigns, in the amount of $370,000.00, dated September 16, 2016, and recorded September 27, 2016, in Official Record Volume 1235, page 54, Logan County records.

Right of Way and Easement granted to The Dayton Power and Light Company, an Ohio corporation, 12.

dated March 11, 2016, and recorded March 22, 2016, in Official Record Volume 1212, page 403, Logan County records.

Easement for pipe lines and telegraph lines granted to The Tide Water Pipe Company, Ltd., dated 13.

November 18, 1908, and recorded February 2, 1909, in Deed Book 107, page 200, Logan County records.

Right-of-Way Assignment from Tide-Water Pipe Co. Ltd. to Sohio Pipe Line Company, a Delaware corporation, dated June 30, 1939, and recorded July 31, 1939, in Deed Book 163, page 67, Logan County records.

Subject to the riparian rights with regard to Mountain Lake.14.

Notwithstanding the reference to acreage or square footage in the description set forth in Schedule "A" 15.

hereof, this policy does not insure nor guarantee the acreage or quantity of land set forth therein.

Right of public use to that portion of the subject premises lying within the right of way of legal 16.

highways.

Copyright 2006-2016 American Land Title Association. All rights reserved.

The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.

Reprinted under license from the American Land Title Association.

ALTA Commitment - Schedule B, Part II

Issuance Date: December 20, 2023 at 09:45am. Any prior Issuance of this title commitment is replaced in its entirety by this Issuance of this title commitment.

This page is only part of a 2016 ALTA Commitment for Title Insurance. This Commitment is not valid without Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions.

Cross-out

U.S. Department of Agriculture

Natural Resources Conservation Service Hazardous Materials Field Inspection Checklist

HAZARDOUS MATERIALS FIELD INSPECTION CHECKLIST

A. BACKGROUND INFORMATION

NRCS PROGRAM LANDOWNER NAME

PROPERTY ADDRESS NUMBER OF ACRES

NEST APPLICATION NUMBER COUNTY STATE

FIELD INSPECTOR’S NAME & TITLE DATE INSPECTED

B. INSTRUCTIONS:

For each question, indicate if you find any evidence of past or present hazardous materials.

For any suspected evidence found, display the location on the parcel map and attach photographic evidence as an addendum to this document.

If you need more room to explain your findings attach additional sheets.

When complete, attest that a field inspection has been completed and that to the best of your knowledge the information included is accurate.

C. Field Conditions: Onsite Nearby None

1. Dumps or landfills (especially with…