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§ 2-510.1. Grant to purchase easement under certain conditions.

MD Agric Code § 2-510.1 (2019) (N/A)
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(a)    The Foundation may make a grant to purchase an easement on a property selected by the Foundation to a county with a program, approved by the Foundation, to purchase easements using installment purchase agreements.

(b)    The Foundation may only approve a county’s installment purchase program if the program is used to purchase easements using installment purchase agreements that:

(1)    Require the county to make annual equal payments to the landowner of interest on the outstanding balance of the purchase price;

(2)    Require that the county pay the landowner the remainder of the purchase price at the end of the term;

(3)    State the total amount of money the county will pay the landowner, the interest rate, and the terms of the agreement; and

(4)    Require that the easement be recorded within 30 days of settlement.

(c)    An easement purchased using a grant provided under this section shall be jointly held by the county and the Foundation.

(d)    An easement purchased using a grant provided under this section may not terminate.

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