(1) The society may accept gifts of developed or undeveloped real estate. The following requirements apply to the acceptance of real estate:

(a) Acceptance of real estate is contingent on formal approval of the society's board of trustees;

(b) Acceptance of property shall not violate any federal, state or local statute or ordinance;

(c) The purpose for which the property is being donated shall be permissible under the state expenditure rules which apply to donations to the society;

(d) The donor agrees that the property can be sold at the society's discretion;

(e) The donor may be responsible for obtaining and paying for an appraisal of the property. The appraisal must be performed by an independent, qualified appraiser;

(f) The society's board of trustees may require the donor provide an environmental appraisal of any proposed gift of real estate;

(g) The donor may be asked to pay for all or a portion of the following:

(i) Maintenance costs;

(ii) Real estate taxes due prior to date of conveyance;

(iii) Insurance;

(iv) Real estate broker's commission and other costs of sale; and

(v) Preliminary title report costs; and

(h) The property shall be conveyed by warranty deed prior to the execution of any contract of sale by the grantor.