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BK : 2182 PG : 139 <br /> each may be located on the Property . The Residences shall be located on the five ( 5 ) <br /> acre parcels described on Exhibits " E " and " E- 1 " and reflected on Exhibit " C " (each , a <br /> " Residence Parcel " and collectively herein referenced as the " Residence Parcels ") . i he <br /> parties acknowledge and agree that , with the prior written approval of Grantee , one or both <br /> of the Residence Parcels may be relocated on the Property. In such event, the Grantor <br /> shall prepare and provide to the Grantee a revised legal description of the relocated <br /> Residence Parcel (" Revised Exhibit " E" or Revised Exhibit " E- 1 " , as applicable) , and the <br /> Revised Exhibit E" or Revised Exhibit " E. 1 " , as applicable , shall be recorded as an <br /> allowed amendment to this Conservation Easement . The parties acknowledge and agree <br /> that the Residence Parcels may be submitted separately at any time to Indian River <br /> County for approval under this Conservation Easement , Each Residence Parcel is subject <br /> to approval by Indian River County in accordance with all then applicable subdivision <br /> requirements for parcels of five ( 5 ) acres . Each Residence shall be subject to all then <br /> applicable development , building , and zoning requirements and restrictions . Uses related <br /> and accessory to any Residence may be established , provided such uses comply with all <br /> then applicable development , building , and zoning requirements and restrictions . Upon <br /> the Grantor notifying the Grantee of the decision to build a Residence , Grantee shall <br /> release two (2) acres of the applicable Residence Parcel from this Conservation Easement <br /> encumbrance without additional charges or compensation . If required by the Indian River <br /> County Property Appraiser , Grantor shall provide a sketch and legal description of the <br /> applicable released two (2) acres . Thereafter, a Residence Parcel may be conveyed by <br /> Grantor, with two (2) acres released from the Conservation Easement (" Released <br /> Parcel ") and the remaining three (3 ) acres subject to this Conservation Easement <br /> (" Encumbered Parcel ") . The parties acknowledge and agree that there will be two ( 2 ) <br /> Released Parcels and two (2 ) Encumbered Parcels hereunder. The parties intend that a <br /> Released Parcel could be used for the home site with appurtenant structures within the <br /> entire applicable Residence Parcel . A pond can be dug within the area of mi <br /> Encumbered Parcel if allowed by applicable Indian River County Codes in effect at the <br /> time application is made . No other single family residences may be located on the <br /> Property other than the Residences identified in Exhibit " C " . <br /> 9 . Allowed Transfers . <br /> (a) . As of November 14 , 2006 , the Property consists of two (2 ) tax parcels <br /> bearing the following ID numbers : 32 -38-26-00000- 1000-00001 . 0 and 32-38- 36-00000 <br /> 3000- 00002 . 0 . The parties acknowledge and agree that tax parcel #32-38 -36-00000- 3000 <br /> 00002 . 0 East of 82n6 Avenue shall be treated as one of four separate tax parcels . The <br /> parties acknowledge and agree that the tax parcel west of 82nd Avenue j32-38-26 -00000 <br /> 1000-00001 . 01 may be divided into three ( 3) parcels as physically divided by existing <br /> Sebastian River Water Control District east-west canal rights of ways as follows : ( 1 ) the <br /> north parcel containing approximately 80 acres , (2 ) the middle parcel containing <br /> approximately 160 acres , and (3 ) the southern parcel containing the balance , all subject to <br /> the Survey as such term is defined in the Option Agreement for Purchase and Sale of <br /> Conservation Easements between the parties dated December 7 , 2006 (such parcels for <br /> purposes of this Conservation Easement sometimes herein collectively referenced as <br /> 7 <br />