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• <br />38 <br />Easement, and hereby covenant that they shall defend such title against all claims that may be <br />made against it. <br />17. Subsequent Liens on Property <br />No provision of this Conservation Easement shall be construed or interpreted as <br />impairing the ability of Crrantors to use the Property as collateral for subsequent borrowing. Any <br />such liens shall be and remain subordinate to this Conservation Easement. <br />18. Subsequent Easements/Restrictions on the Property <br />The grant of any easement that might diminish or impair the conservation values of the <br />Property is prohibited. Any easement or restriction or other encumbrance affecting title to the <br />Property placed of record at any time on or after the Effective Date shall be subordinate to this <br />Conservation Easement. <br />18. Grantors' Environmental Warranty <br />When and as used in this Conservation Easement, "Environmental Law" or <br />• <br />"Environmental Laws" shall mean any and all Federal, state, local or municipal laws, rules, <br />orders, regulations, statutes, ordinances, codes, guidelines, policies or requirements of any <br />Page 16 of 22 <br />