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13 <br />ARTICLE VI. MISCELLANEOUS <br />A. Subsequent Transfers of the Fee. Grantor agrees for itself, its successors and <br />assigns, that in the event it transfers the Property, or any portion thereof, which includes the <br />Easement Area described herehr, to notify the Grantee and the State in writing of the names <br />and addresses of any party to whom the Property is to be transferred at or prior to the time said <br />hansfer is consununated. Grantor, for itself, its successors and assigns, further agrees to make <br />specific reference to this Conservation Easement in a separate paragraph of any subsequent <br />lease, deed, or other legal inshument by which any interest in the Property or Easement Area <br />is conveyed according to ?.nticle IILH, herein. <br />B. Subsequent Transfers of the Conservation Easement. The Parties hereto <br />recognize and agree that the benefits of this Conservation Easement are in gross and <br />assignable. The Puties hereby covenant and agree, that in the event this Conservation <br />Easement is transferred or assigned, the hansferee or assignee of the Conservation Easement <br />will be a qualified organization as that term is defined in Section 170(ln)(3) of the Internal <br />Revenue Code of 1986, as amended, or any successor section, and the regulations <br />promulgated thereunder (the "Internal Revenue Code") which is organized or operated <br />primarily for one of the conservation pwposes specified in Section 170(h)(4)(A) of the <br />Intemal Revenue Code. The Panties further covenant and agree that the tenors of the transfer <br />or the assignment will be such that the hansferee or assignee will be required to continue to <br />carry out in perpehnity the conservation purposes that the contribution was originally intended <br />to advance as set forth in the Recitals herein. Grantee, its successors or assigns, hereby <br />covenants and ag~ees to monitor and observe the Easement Anea in perpetuity for such <br />purposes set forth by this Conservation Easement and Grant Agreement, and to report to the <br />Fund and the State any observed violations on the Easement Area. <br />C. Existuig Responsibilities of Grantor and Grantee Not Affected. Other than as <br />specified herein, tlis Conservation Easement is not intended to impose any legal or other <br />responsibility on the Grantee, or in ury way to affect any existing obligation to the Grantor as <br />owner of the Property, which includes the Easement Area. Among other tlings, this shall <br />apply to: <br />1. Taxes. The Grantor shall continue to be solely responsible for payment of <br />all taxes and assessments levied against the Property. If the Grantee is <br />ever required to pay any taxes or assessments on its interest in the <br />Easement Area, the Grantor will reimburse the Grantee for the same. <br />2. U~ke~ and Maintenance. The Grantor shall continue to be solely <br />responsible for the upkeep and maintenance of the Easement Area, to the <br />extent it may be required by law, except for that certain area defined as the <br />New Hope Creek trail and that portion of the property located between the <br />top of the bank of New Hope Creek and said trail, which is conshucted, <br />maintained and operated under the said Master Plan. The Grantee shall <br />have no other obligation for the upkeep or maintenance of the Easement <br />Area. <br />13 <br />