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HomeMy WebLinkAboutL 13210 P 425 11111111 IIII IIIA VIII VIII VIII VIII VIII VIII IIII IIII 1111111111 111111111111111 SUFFOLK COUNTY CLERK RECORDS OFFICE RECORDING PAGE Type of Instrument: EASEMENT Recorded: 07/20/2023 Number of Pages : 9 At: 02 :20 : 36 PM Receipt Number : 23-0091941 TRANSFER TAX NUMBER: 22-34753 LIBER: D00013210 PAGE : 425 District: Section: Block: Lot: 1000 095 . 00 04 . 00 001 .000 EXAMINED AND CHARGED AS FOLLOWS Deed Amount: $0 . 00 Received the Following Fees For Above Instrument Exempt Exempt Page/Filing $45.00 NO Handling $20 . 00 NO COE $5 .00 NO NYS SRCHG $15 . 00 NO TP-584 $5. 00 NO Notation $1 . 00 NO Cert.Copies $11 .25 NO RPT $200 . 00 NO Transfer tax $0 . 00 NO Comm.Pres $0 . 00 NO Fees Paid $302 .25 TRANSFER TAX NUMBER: 22-34753 THIS PAGE IS A PART OF THE INSTRUMENT THIS IS NOT A BILL Vincent Puleo County Clerk, Suffolk County Numberof pages RECORDED 2023 J_1 20 02:20:36 P14 This document will be public Uincent. Puleu LERrecord. Please remove all 1.OLK OF suFl=��Lr--: c0urdry Social Security Numbers L D00013210 prior to recording. P 425 GST# 22-34753 Deed/Mortgage Instrument Deed/Mortgage Tax Stamp Recording/Filing Stamps 3 1 FEES Page/Filing Fee Mortgage Amt. 1.Basic Tax Handling 20. 00 2. Additional Tax TP-584 Sub Total Notation Spec./Assit. or EA-5217(County) Sub Total Spec./Add. EA-5217(State) TOT.MTG.TAX Dual Town Dual County R.P.T.S.A. Held for Appointment Comm.of Ed. 5. 00 Transfer Tax �)Mee • . Mansion Tax o"t RED The property coveredXy this mortgage is o or will be improved by a one or two NYS Surcharge 15. 00 a -3j °� family dwelling only. Sub Total YES or NO Other ll Grand Total 00If NO,see appropriate tax clause on page# of this instrume t. b O� 4 Dist.9 000 Se 5127327 1000 09500 '0400 001000 5 Community Preservation Fund Real Property P T SI III IIIII III III I��IIIII�I� I� Consideration Amount$ Tax Service R RAK A Agency 20-JUL-23 CPF Tax Due $ Verification - - - Irrt5roved 6 Satisfactions/Discharges/Releases List Property Owners Mailing Address RECORD&RETURN TO: Vacant Land E/ David M. Dubin, Esq. TD d Q Twomey, Latham, Shea, Kelly, Dubin &Quartararo, LLP PO Box 9398 TD Riverhead, New York 11901 TD Mail to: Vincent Puleo, Suffolk County Clerk 7 Title Company Information 310 Center Drive, Riverhead, NY 11901 co.Name www.suffolkcountyny.gov/clerk Title# s Suffolk County Recording & Endorsement Page This page forms part of the attached Amendment of Grant of Development Rights Easement made by: (SPECIFY TYPE OF INSTRUMENT) Mattituck Farm Holdings LLC The premises herein is situated in SUFFOLK COUNTY, NEW YORK. TO In the TOWN of Southold Town of Southold In the VILLAGE or HAMLET of BOXES 6 THRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING OR FILING. Ove AMENDMENT OF GRANT OF DEVELOPMENT RIGHTS EASEMENT MATTITUCK FARM HOLDINGS LLC with offices at 2299 North Sea Road, Southampton, New York (herein called "Grantor") and the TOWN OF SOUTHOLD, a municipal corporation, having its principal off=ice at 53095 Main Road, Southold, New York 11971-0959 (herein called "Grantee") enter into this agreement, dated July _2e 2023, to amend (this "Amendment") the Grant of Development Rights Easement dated December 3, 2021, which was recorded with the Suffolk County Clerk Recorder, State of New York, Liber 13144 and Page 503 on February 25, 2022, as amended by the Correction Grant of Development Rights Easement dated October 4, 2022, which was recorded with the Suffolk County Clerk Recorder, State of New York, Liber 13177 and Page 017 on November 9, 2022 (the "Easement"). This Amendment is made and entered into in perpetuity and exclusively for conservation purposes. INTRODUCTION WHEREAS, Grantor granted the Easement (attached hereto as Schedule A) to Grantee over certain real property identified in the Easement as the Property ("Property") and identified on the Suffolk County Tax Map as 1000- 95-4-1. WHEREAS, Grantor is the present owner of the underlying fee interest in the Property and Grantee is the present holder of the Easement. WHEREAS, on or about April 24, 2023, the U.S. Treasury Department and Internal Revenue Service issued Notice 2023-30, which sets forth the safe harbor deed language for extinguishment and boundary line adjustment clauses required by § 605(d)(1) of the SECURE 2.0 Act of 2022 (SECURE 2.0 Act), enacted as Division T of the Consolidated Appropriations Act, 2023, Public Law 117-328, 136 Stat. 4459 (December 29, 2022). WHEREAS, Grantor and Grantee desire to amend the Easement to substitute the safe harbor language for the corresponding language in the Easement, as provided by § 605(d)(2) of the SECURE 2.0 Act. Based on the provisions of this Amendment and the mutual and valuable consideration provided to each by this Amendment, Grantor and Grantee AGREE as follows: Z ARTICLE ONE THE AMENDMENT 1.01 Boundary Line Adjustments Pursuant to Notice 2023-30, Section 3.03 of the Easement is deleted in its entirety and the following is substituted in lieu thereof: Except as provided in this Section 3.03, the Property may not be further subdivided pursuant to Town Law §§265, 276 or 277 or §335 of the Real Property Law, as they may be amended, or any other applicable State or local law. "Subdivision" shall include the division of the portion of the Property from which the development rights are acquired into two or more parcels, in whole or in part. Grantor may, subject to approval by the Planning Board of the Town of Southold and as otherwise required by applicable law, modify or alter lot lines between the Property and adjacent parcels, or subdivide the Property, provided that all resulting parcels contain at least 10 acres of preserved agricultural land subject to a development rights easement or other conservation instrument. Notwithstanding this Section 3.03, upon the death of Grantor or its Members, the underlying fee interest may be divided by conveyance of parts thereof to Grantor's executor, trustee, heirs or next of kin by will or operation of law. Notwithstanding any other provision of the Easement and pursuant to Notice 2023-30, Grantor and Grantee agree that boundary line adjustments to the real property subject to the restrictions may be made only pursuant to a judicial proceeding to resolve a bona fide dispute regarding a boundary line's location. A boundary line adjustment shall not be interpreted as synonymous with or otherwise preclude a lot line modification, subdivision, or division by conveyance upon Grantor's death, as described in this Section and defined by the Town Code of the Town of Southold. 2 1.02 Extinguishment of Easement/Condemnation/Proceeds Pursuant to Notice 2032-30, Section 6.06 of the Easement is deleted in its entirety and the following is substituted in lieu thereof: A. Termination; Extinguishment. If a subsequent unexpected change in the conditions surrounding the Property that is the subject of a donation under this Easement has made impossible or impractical the continued use of the Property for conservation purposes, the conservation purpose can nonetheless be treated as protected in perpetuity if the restrictions are terminated or extinguished by judicial proceeding and all of Grantee's Proceeds (as hereinafter defined) from a subsequent sale or exchange of the Property are used by Grantee in a manner consistent with the conservation purposes of the original contribution. A judicial proceeding is the exclusive manner in which this Easement may be terminated or extinguished. In the event of extinguishment of this Easement in whole or in part, the provisions of this Section 6.06 shall survive such extinguishment. The mere cessation of farming on the Property shall not be construed to be grounds for extinguishment of this Easement. B. Grantee's Proportionate Share. In connection with any condemnation, termination, or extinguishment of this Easement, "Grantee's Proceeds" from such action shall be the greater of the amount determined as Grantee's Proceeds under Section 6.06(C) or Section 6.06(D) below. C. Grantee's Proceeds. At the mutual request of Grantor and Grantee, a court with jurisdiction may, if it determines that conditions surrounding the Property have changed so much that it becomes impossible to fulfill the Purpose of this Easement described in Section 0.03, extinguish or modify this Easement in accordance with applicable law. The mere cessation of farming on the Property shall not be construed to be grounds for extinguishment of this Easement. If at any time the Property or any portion thereof shall be taken or condemned by eminent domain, by the Grantee or by any other governmental entity, then this Easement shall terminate with respect to the Property, or portions thereof so taken or condemned, and the Property shall not be subject to the limitations and restrictions of this Easement. In such event, the Grantor, its successors or assigns, shall not be required to pay any penalties, but the value of the Property shall reflect the limitations of this Easement. Any condemnation award payable to the Grantor shall be in proportion to the value attributable to the residual agricultural value of the Property. If the condemnation is undertaken by an entity other than the Grantee, then the 3 remaining portion of the condemnation award shall be payable to the Grantee in proportion to the value attributable to the development rights transferred hereby. D. Grantee's Proceeds; Internal Revenue Code. For the purposes of Grantor's claim of a federal income tax deduction under IRC Section 170(h) and associated IRS Regulations, the fair market value of the Easement at the time of condemnation, termination or extinguishment shall be determined by multiplying (i) the fair market value of the Property unencumbered by the Easement at the time of termination by (ii) the ratio of the value of the Easement at the time of this grant to the value of the Property without deduction for the value of the Easement at the time of the grant. The ratio (Grantee's "Proportionate Share") referred to in the preceding sentence shall be established by a qualified appraisal for federal income, gift and estate tax deduction purpose, pursuant to IRS Regulation §1.170A-13 and §1.170A- 14(h), and the ratio shall remain constant. Pursuant to IRS Regulation §1.170A-14(g)(6)(H), after termination of this Easement, in whole or in part, on a subsequent sale, exchange or involuntary conversion of the Property, Grantee must be entitled to a portion of the proceeds (without diminution for any costs, expenses, or prior liens) that is at least equal to Grantee's Proportionate Share as established by this Section 6.06(D). All of Grantee's Proceeds, as determined in this Section 6.06(D), must be used by the Grantee in a manner consistent with the conservation purposes of the original contribution, unless state law provides that the Grantor is entitled to the full proceeds from the conversion without regard to the terms of the prior perpetual conservation easement. The Grantee makes no representation as to the tax consequences of the transaction contemplated by this Easement. Grantor will obtain independent tax counsel and be solely responsible for compliance requirements of the Internal Revenue Code. ARTICLE TWO REPRESENTATIONS AND TERMS 2.01 Authorization This Amendment is authorized by and consistent with the provisions of Section 7.02 of the Easement. Each signatory to this Amendment represents 4 and warrants that he or she is duly authorized to enter into and execute this Amendment and to legally bind the party that he or she represents. 2.02 Governing Law New York law applicable to deeds and conservation easements pertaining to land located within New York shall govern this Amendment and the Easement in all respects, including validity, construction, interpretation, breach, violation and performance. Nothing herein shall be construed to limit Grantee's powers exercised at Grantee's initiative in a manner consistent with Grantee's municipal and regulatory powers, including but not limited to zoning and taxation. 2.03 No Liens Grantor represents that as of the effective date of this Amendment there are no liens or mortgages outstanding against the Property. 2.04 Effect of Amendment Except as amended hereby, all terms and conditions of the Easement, including but not limited to all Schedules and Exhibits thereto, remain in full force and effect. In the event of a conflict between the terms of the Easement and this Amendment, the terms of this Amendment shall prevail. 2.05 Effective Date of Amendment This Amendment shall be effective when Grantor and Grantee have executed it and it has been recorded in the office of the Clerk of the County of Suffolk County, State of New York. 2.06 Counterparts This Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, but all of which together shall constitute one instrument. 5 IN WITNESS WHEREOF Grantor and Grantee have caused this Amendment to be executed by persons duly authorized to execute the same. ACKNOWLEDGED AND ACCEPTED: MA CK ARM HOLDINGS LLC, Grantor By: Peter J. Tal , Vice Pres' ent ACKNOWLEDGED AND ACCEPTED: TOWNOF S THOLD, Grantee By: SCa A- Qu55�L�, Su �ti5oy2 State of New York ) County of GA;I)L ) ss: On the 12� day of �u� , in the year 2023 before me, the undersigned personally appeared Peter J. Talty, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. NICHOLE L PATINO NotaryifiedIPublic,State uffolk Countow y k Signature/office of individual taking acknowledgment Qualified In Suffolk County g No.01 PA6240712 Commission Expires Mav i6. �7 State of New York ) County of 1 C, ) ss: On the ]� day of cul , in the year 2023 before me, the undersigned personally appeared SrA A , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that they executed the same in their capacity, and that by their signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.4w� 4� NICHOLELPAMO Signature/office of individual taking acknowledgment Notary Public,State of Newyork Qualified In Suffolk County No.01 PA6240712 �+ Cormftlon Expires Mav 16, 0 � Y r //Pstewaft SCHEDULE "A" •Tiri_E--- Title Number: 71174658 AS TO DEVELOPMENT RICzHTS EASEMENT AREA: ALL that certain plot, piece or parcel of land lying and being at Mattituck, in the Town of Southold, County of Suffolk and State of New York, more particularly bounded and described as follows: BEGINNING at a monument at the intersection of the southerly line of Oregon Road and the easterly line of Alvahs Lane, distant 345.39 feet along the southerly side of Oregon Road to the true point of BEGINNING; RUNNING THENCE still along the southerly tine of Oregon Road North 48 degrees 30 minutes 00 seconds East, 330.04 feet to land now or formerly of Mattituck Holdings LLC; RUNNING THENCE along said land South 37 degrees 21 minutes 10 seconds East, 823.82 feet to a concrete monument and other land now or formerly of Mattituck Holdings LLC; RUNNING THENCE along said land, South 57 degrees 00 minutes 30 seconds West, 706.50 feet to the easterly side of Alvahs Lane; RUNNING THENCE along said easterly line of Alvahs Lane, North 34 degrees 5d minutes 30 seconds West, 452.23 feet; RUNNING THENCE North 48 degrees 29 minutes 58 seconds East, 376.34 feet; RUNNING THENCE North 41 degrees 30 minutes 02 seconds West, 267.88 feet to the southerly side of Oregon Road and the point or place of BEGINNING. BEING AND INTENDED TO BE part of the same premises described in a certain deed from Island Creek Properties, LLC to Mattituck Farm Holdings, LLC, dated 211412006, recorded 712312006 in Liber 12427 Page 312. FOR CONVEYANCING ONLY:TOGETHER with all right,title and interest of the party of the first part,of,in and to any streets and roads abutting the above described premises to the center lines thereof.