Orange County NC Website
Browse       Search
7312 �'c�56� <br />E <br />oA <br />shall be binding upon Grantor and Grantor's lessees, agents, 26 <br />personal representatives, successors and assigns, and all other <br />successors in interest to Grantor and will continue as a <br />servitude running in perpetuity with the Protected Property. <br />11. Subsequent Transfers. Grantor agrees that the terms, <br />conditions, restrictions and purposes of this grant or reference <br />thereto will be inserted by Grantor in any subsequent deed or <br />other legal instrument by which Grantor divests either the fee <br />simple title or a possessory interest in the Protected Property; <br />and Grantor further agrees to notify Grantee of any pending <br />transfer at least thirty (30) days in advance. <br />12. Merger. Grantor and Grantee agree that the terms of <br />this Conservation Easement shall survive any merger of the fee <br />and easement interest in the Protected Property. <br />13. Assignment. The parties hereto recognize and agree <br />that the benefits of this easement are in gross and assignable, <br />and Grantee hereby covenants and agrees that if it transfers or <br />assigns the easement it holds under this indenture, the <br />organization receiving the interest will be a qualified <br />organization as that term is defined in Section 170(h)(3) of the <br />Internal Revenue Code of 1986 (or any successor section) and the <br />regulations promulgated thereunder organized and operated <br />primarily for one of the conservation purposes specified in <br />Section 170(h)(4)(A) of the Internal Revenue Code, and Grantee <br />further covenants and agrees that the terms of,the transfer or <br />assignment will be such that the transferee or assignee will be <br />13 <br />