Maintaining Current Conditions. From and after the Effective Date, Altec shall not encumber (except for financing purposes which shall be released prior to the grant hereunder), transfer to a non-affiliated entity, or change title to the Montreux 42 Acres (except to create the Montreux 42 Acres as a legal parcel or to convey the Montreux 42 Acres to the GHAD as discussed below), nor shall it take or allow any action to physically change the condition of the Montreux 42 Acres in a manner that is inconsistent with the Montreux Conservation Easement or with the terms and conditions of this Agreement. Prior to recordation of the Montreux Conservation Easement, Altec shall maintain the Montreux 42 Acres in substantially its current condition, as shown in the Montreux 42 Baseline Report attached hereto as Exhibit E and in a manner that is consistent with the permitted uses and other covenants set forth in the Montreux Conservation Easement, which includes, but is not limited to, the right for Altec to complete grading and final improvements, soil stabilization, maintain, install, upgrade, and replace the existing improvements in situ, blade roads, and graze and weed xxxxx, as more specifically set forth in the Montreux Conservation Easement and shown on the attached Exhibit F (“Montreux Perimeter Grading Map”). For any grading in the Montreux 42 Acres resulting from Altec’s exercise of its rights set forth in this Section 3.1(b), Altec shall pay a development fee of $28,000 per acre in 2019 Dollars for any permanent impacts, and shall pay a temporary impact fee for any temporary impacts consistent with standard application of the HCP/NCCP (except no temporary impact fees shall be imposed for work done to maintain, repair, or replace in situ, existing paved and unpaved roads and improvements). The parties acknowledge that the conditions of approval for the Montreux project require cooperation with the City in the event the City requires that an unpaved public trail be constructed on the Montreux 42 Acres. Any such trail shall comply with applicable HCP/NCCP requirements, including Conservation Measure 1.5 (HCP/NCCP, pp. 5-64 to 5-69.) Grantee shall work with the City and Altec should such a trail be required by the City.
Maintaining Current Conditions. From and after the Effective Date, Xxxxx shall not encumber (except for financing and/or collateral purposes which shall be released upon transfer of the grant hereunder), transfer to a non-affiliated entity, or change title to the Xxxxx Preserve Area (except to create the Xxxxx Preserve Area as a legal parcel or to convey the Xxxxx Preserve Area to the GHAD as discussed below), nor shall it take or allow any action to physically change the condition of the Xxxxx Preserve Area in a manner that is inconsistent with the terms and conditions of this Agreement. Xxxxx shall maintain the Xxxxx Preserve Area in substantially its current condition, as shown in the Xxxxx Baseline Report attached hereto as Exhibit L and in a manner that is consistent with the following terms and conditions.
