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Agenda - 02-17-1998 - 9d
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Agenda - 02-17-1998 - 9d
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7/22/2010 3:09:25 PM
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BOCC
Date
2/17/1998
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
9d
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Minutes - 19980217
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\Board of County Commissioners\Minutes - Approved\1990's\1998
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aaoK 152 ~~1~ 568 <br />24 <br />required to continue to carry out in perpetuity the conservation <br />purposes that the contribution was originally intended to <br />advance. <br />14. Extinguishment. Grantor hereby agrees that, at the <br />time of the conveyance of this Conservation Easement to Grantee, <br />this Conservation Easement gives rise to a real property right, <br />immediately vested in Grantee, with a fair market value of the <br />Conservation Easement as of the date of the conveyance that is at <br />least equal to the proportionate value that this Conservation <br />Easement at the time of the conveyance bears to the fair market <br />value of the property as a whole at that time. <br />That proportionate value of Grantee's property rights shall <br />remain constant. When a change in conditions takes place which <br />makes impossible or impractical any continued protection of the <br />Protected Property for conservation purposes, and the <br />restrictions contained herein are extinguished by judicial <br />proceeding, Grantee, upon a subsequent sale, exchange or <br />involuntary conversion of the Protected Property, shall be <br />entitled to a portion of the proceeds at least equal to that <br />proportionate value of the Conservation Easement. Grantee shall <br />use its share of the proceeds in a manner consistent with the <br />conservation purposes set forth herein or for the protection of a <br />"relatively natural habitat of fish, wildlife, or plants or <br />siunilar ecosystem," as that phrase is used in and defined under <br />P.L. 96-541, 26 IISC 170(h)(4)(A)(ii), as amended and in <br />regulations promulgated thereunder. __ <br />14 <br />err -~ t <br />
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