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16 <br />Covey Creek Conservation Easement (Underwood) Draft 6/3/09 BOCC <br />Easement; that the Easement Area is free and cleaz of any mortgages not subordinated to this <br />Conservation Easement, and that the Grantee shall have the use of and enjoy all the benefits <br />derived from and arising out of this Conservation Easement, subject to any easements or <br />encumbrances of record. <br />15. NOTICES. Any notices required by this Conservation Easement shall be in <br />writing and shall be personally delivered or sent by first class mail, to Grantor and Grantee, <br />respectively, at the following addresses, unless a party has been notified by the other of a change <br />of address. <br />To the Grantor: <br />Bazbaza Swint Underwood <br />612 Yorktown Road <br />Chapel Hill, NC 27516 <br />To the Grantee: <br />Orange County Environment and <br />Resource Conservation Department <br />Orange County, North Cazolina <br />P.O. Box 8181 <br />Hillsborough, NC 27278 <br />16. ENVIRONMENTAL CONDITION. The Grantor warrants that it has no actual <br />knowledge of a release or threatened release of hazazdous substances or wastes on the Easemert <br />Area. <br />17. SEVERABILITY. If any provision of this Conservation Easement is found to be <br />invalid, the remaining provisions shall not be altered thereby. <br />18. PARTIES. Every provision of this Conservation Easement that applies to the <br />Grantor or Grantee shall also apply to their respective heirs, executors, administrators, assigns, <br />and all other successors as their interest may appeaz. This Conservation Easement shall not be <br />construed to benefit or to create any rights in any third parties, including but not limited to the <br />general public. <br />19. RE-RECORDING. In order to ensure the perpetual enforceability of the <br />Conservation Easement, the Grantee is authorized to re-record this instrument or any other <br />appropriate notice or instrument. <br />20. MERGER. The parties agree that the terms of this Conservation Easement shall <br />survive any merger of the fee and easement interest in the Easement Area. <br />21. SUBSEQUENT LIENS ON PROPERTY. No provisions of this Conservation <br />Easement should be construed as impairing the ability of Grantor to use the Easement Area as <br />collateral for subsequent borrowing, provided that any mortgage or lien azising from such a <br />borrowing is made subordinate to this Conservation Easement. <br />Page 13 of 16 <br />