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easement in order to reduce potential adverse impacts on such land including grading, vegetation removal, and erosion, recognizing that such land is essentially unimproved and if retained in its natural state has substantial scenic value to the public and that the preservation of such land as 'open space constitutes an important physical, social, aesthetic and economic asset to the Town and the Owner. - NOW, THEREFORE, the parties, in consideration of the mutual covenants and conditions set forth herein and the substantial public benefits to be derived therefrom, do hereby agree as follows: 1. Grant of Conservation Easement. Owner, as grantor, hereby grants a conservation easement to the Town of Los Altos Hills, a municipal corporation, County of Santa Clara, State of California, over the real property described and shown on as Exhibit A hereto (the "Property"-) to have and to hold said conservation easement for the -term and for the purposes and subject to the conditions, covenants and exceptions described herein. 2. Statutory Authorization. This Agreement and grant of conservation easement are made and entered into pursuant to Civil Code Sections 815 through 816 and Chapter 6.6 (commencing with .section (51070) of Part 1, Division 1, Title.5 of the Government Code. This Agreement is subject to all of the provisions of said sections and chapter including any amendments thereto which may hereafter be enacted. 3. Restriction on Use of Property. During the term of this Agreement and the conservation easement granted herein, the Property shall not be used for any purpose other than a conservation easement and those uses related to or compatible therewith. Owner, for the direct benefit of the Property described herein and of the Owner, hereby declares that the Property shall be subject to restrictive covenants running with the land -which shall be binding upon all subsequent grantees. Said. restrictive covenants shall be: a. against the right of Owner to construct any improvements on or within the Property except for public and private utilities easements, paths dedicated to the Town and the septic system approved by the County of Santa Clara Health Department, provided these reserved exceptions shall be consistent with the purposes of law and shall not permit any action which will 2 3\1ah\a9m\huang.cnsry