The Land Trust for Tennessee Inc

“1) amendment to add 83.5 acres to an existing conservation easement. The additional land added 28 acres of prime agricultural soils, 3,967 feet of road frontage, 50 forested acres, and 2,500 feet of unnamed tributaries to the middle fork obion river. The amendment also further defined two homestead areas that were reserved in the original conservation easement. Other provisions of the conservation easement were updated to bring them in line with current standards. 2) amendment to shrink and relocate the secondary homestead-farmstead area as retained in the original easement. The amendment relocated the area to encompass an existing structure and reduced the area from 9.5 acres to 3 acres in size. This amendment further protects the conservation values of the property by reducing the developable area on the property and protecting additional prime agricultural soils. The amendment also corrected a typographical error, and other provisions of the conservation easement were updated to bring them in line with current standards.”

“Easement monitoring: the land trust for tennessee is an accredited land trust. Accreditation recognizes an organization's commitment to excellence and continual learning and improvement. Monitoring is the regular and systematic gathering of information about a conserved property to detect changes and to ensure that the property is being used in accordance with the restrictions placed on it and/or management plan. Each property, whether protected by a conservation easement or owned by lttn (the land trust for tennessee), will be monitored at least once annually in a manner appropriate to the size and restrictions of the property. Monitors may include lttn staff, board or committee members, trained volunteers, and relevant professionals. The monitor follows the following basic steps for the monitoring visit: 1.contact the landowner to inform him/her of the visit and to invite the landowner to accompany the monitor. 2.prior to the visit, review the baseline documentation report, past monitoring reports, and the conservation easement or the management plan, whichever is applicable, via file or database. 3.bring conservation easement summary on the site visit to use as a reference. 4.if monitor is a volunteer, complete the stewardship monitor release form if not completed at volunteer training. 5.inspect the conserved property, either from the air or on the ground. While inspecting, take notes and photographs. 6.fill out a stewardship site visit monitoring form, providing a written documentation of what was seen and submit to the director of stewardship. If there is a suspected violation of the conservation easement, then the following enforcement of easements procedures is followed. Enforcement of easements: lttn is committed to protecting the conservation values and purposes embodied in its conservation easements. As a general rule, the board of directors of lttn will enforce the terms of its conservation easements and, consistent with such terms, seek to remedy violations thereof in order to, among other things, protect the conservation values of the land, maintain public confidence in lttn's mission, support lttn's legal authority to enforce the terms of other conservation easements, and maintain lttn's tax-exempt status as a charitable organization. In connection with a steward's monitoring of a conservation easement, any suspected violation of the terms of a conservation easement is to be recorded on the form and immediately reported to the director of stewardship. Violations may also be reported by a staff observation outside the annual monitoring visits or by an unrelated third party, such as a neighbor, local government agency, or other community organization. 1.suspected violations, including a detailed description thereof, are recorded by the monitoring steward or lttn staff member receiving notice thereof. The steward or staff member is, to the extent possible, to discern and document whether the suspected violation has been caused by the landowner or some other person. The monitoring steward will refrain from discussing the suspected violation with the landowner. 2.the monitoring steward or staff person will immediately report the suspected violation to the director of stewardship, who, in turn, will immediately inform the vice president of conservation and other appropriate members of lttn staff. 3.the director of stewardship or designated staff member then consults the original terms of the conservation easement and evaluates the documentation regarding the suspected violation. In the case of a non-steward observer, the stewardship manager or the director of stewardship will schedule a monitoring visit with the landowner to inspect the site of the suspected violation and take photographs. This physical inspection will be performed by the stewardship manager, director of stewardship, vp of conservation, a board member, or any combination thereof. 4.all documentation of the suspected violation (including photographs, i”

“The land trust for tennessee does not consider conservation easements to hold any monetary value. Select property rights are donated to the land trust for tennessee, and those rights are extinguished through the donation, therefore they have no residual value or affirmative rights. Financial statement footnote: conservation easements held by the organization are not recognized as assets in the accompanying financial statements. Assets are defined as probable future economic benefits obtained or controlled by an entity; the organization does not believe that the easements meet the definition criteria.”

“The board-designated quasi-endowment fund ("ashby fund") consists of funds that were transferred to the quasi-endowment by the board of directors. The board of directors anticipates these funds will remain in the quasi-endowment in perpetuity, but may withdraw them for other uses.”

“Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the land trust's income tax returns to determine whether the income tax positions meet a "more likely than not" standard of being sustained under examination by the applicable taxing authorities. Management has performed its evaluation of all income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the "more likely than not" standard. Accordingly, there are no provisions for income taxes, penalties, or interest receivable or payable relating to uncertain income tax positions.”