Charles H. Browning, Jr., and Patricia L. Browning - Page 4

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          immediately and Howard County’s agreement to make installment               
          payments of an additional $279,000 over a period of approximately           
          30 years (for a total sales price of $309,000).  The bulk of the            
          sales price ($235,000) is to be paid at the end of the 30-year              
          installment period.  Interest on the unpaid balance of the sales            
          price is payable at a minimum rate of 8 percent a year.                     

          Land Preservation Program                                                   
               Howard County acquired the easement pursuant to the county’s           
          Agricultural Land Preservation Program (the Program).  The                  
          Program is the county’s primary tool for preserving farmland.               
          Pursuant to the Program, the county purchases development rights            
          from landowners and holds those rights in perpetuity.  The only             
          permissible use of land in the Program is agricultural use.  A              
          landowner’s participation in the Program is voluntary.  The                 
          objective of the Program is to support the agricultural community           
          by helping to keep the county’s land base available for farming             
          and by minimizing the impact of residential development in                  
          agricultural areas.                                                         
               Prior to 1989, Howard County was limited in that, by law,              
          the most it could pay for development rights was 50 percent of              
          the fair market value of the subject land.  In 1989, Howard                 

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Last modified: May 25, 2011