Orange County NC Website
Browse       Search
easement to another qualified organization having similar purposes that agrees to assume the <br />responsibility. <br />9. TRANSFER OF EASEMENT AREA. Grantors shall notify Grantee, in <br />writing, at least thirty (30) days prior to any conveyance by Grantors of the Easement Area or any <br />interest in the Easement Area, and the document of conveyance shall expressly refer to this <br />Conservation Easement and, by its terms, the conveyance shall be made subject to and <br />subordinate to this Conservation Easement. <br />10. AMENDMENT OF EASEMENT. This easement maybe amended only with <br />the written consent of Grantors and Grantee. Any such amendment shall be consistent with the <br />purposes of this Conservation Easement and shall comply with Sec. 170(h) of the Internal <br />Revenue Code, or any regulations promulgated in accordance with that section. Any such <br />amendment shall also be consistent with the Uniform Conservation and Historic Preservation <br />Agreements Act, N.C. Gen. Stat. § 121-34 et seq., or any regulations promulgated pursuant to <br />that law. The Grantors and Grantee have no right or power to agree to any amendment that <br />would affect the enforceability of this Conservation Easement. <br />1 1. TERMINATION OF EASEMENT. If it is determined by a court with <br />jurisdiction that conditions on or surrounding the Easement Area have changed so much that it is <br />impossible to fulfill the conservation purposes set forth above, a court with jurisdiction may, at <br />the joint request of both the Grantors and Grantee, terminate this Conservation Easement. <br />If condemnation of a part of the Easement Area or of the entire Easement Area by public <br />authority renders it impossible to fulfill any of the conservation purposes of this Conservation <br />Easement, this Conservation Easement may be terminated by a court. with jurisdiction, provided <br />Grantee is a party to any action to terminate this Conservation Easement. <br />At the time of the conveyance of the Conservation Easement to the Grantee, this <br />Conservation Easement gives rise to a real easement right, immediately vested in the Grantee. If <br />the easement is terminated and the Easement Area is sold or taken for public use, then, as <br />required by Sec. 1.170A-14(g)(6) of the IRS regulations, the Grantee shall be entitled to a <br />percentage. of the gross sale proceeds or condemnation award (minus any amount attributed to <br />new improvements made after the date of the conveyance, which amount shall be reserved to the <br />Grantors), equal to the ratio of the appraised value of this easement to the unrestricted fair market <br />value of the Easement Area, as .these values are determined on the date of this Conservation <br />Easement. The Grantee shall use any such proceeds consistently with the general conservation <br />purposes of this Conservation Easement. <br />12. INTERPRETATION. This Conservation Easement shall be interpreted under <br />the Iaws of North Carolina, resolving any ambiguities and questions of the validity of specific <br />provisions as to give maximum effect to its conservation purposes. <br />Page 9 of 15 <br />