S Easement - William H Breeze Sr. for Deed of Agricultural Conservation Easement

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~ ~ ~~~~~ ~I~t~ ~ imposed by the Conserv~tion Easement. Accordingly, if any condcmn~tion or eminent dom~in action sh~ll be taken, on all or part of the Propcrty, by any ~uthoriud pnbtic suthority, said suthority shall be liable to Crrantee far the value of tlu property right vested in Grantee ~t t~te time of the signing of this Conservation Easement. D~te to the fec~eral intere~t in tttis D~ed, the United States must consent to any condtmnation action. If condemnation or a taking by ecninent dam~in of a part of the Property or the cntire Praperty by ~ public authority renders it impossible to fulfill any of the conservation purposes of this Conservation Easement on all or part of the Property, the Conservation Easement may be terminated or modifted accordingly through eandetnnation proceedings. Grantor and Grantee agn:e that the Conservation Easemont is a cunently ve~ted real property right with a value equal to the proportion~te value the Conservation Easement h~.s to the unencambered valu~ of the fee, as of the date of this gr~nt. If the Conservation Easement is terminated or modified and any or all of thc Property is sold or taken for p~blic use, then, as required by Section 1.170A-14(gx6) of the IRS regulations, Grantee shall be entitled to the proportionate value of t~e Conserv~tion Easemcnt, which has been predetermined at sixty-four percent (64%) of the Property's unrestricted value, suhject to any app}icable law whieh expressly requires for a different disposition of the proceeds. If this Conservation Easement is tcrrmittated or modified by condemn~tion aetion or eminent domain, Gr~ntee, the NCDACS, and the United States shattl stiare, 34.9'~6 to GFantee, 28.?°!o to NCDACS, and 36.4% to the United States, Grantce's proportional walae of the Conaervatior~ F,asement. All condemnation-re~ated expenses ir~curred by the Grantar and Grantee st~a~l be paid aut of an~ recovered procecds grior to d'tstrib~tion of the net procceds as d~cribed herein. Until such time as the Grantee and the United States receive the proceeds from the Grar~tor or Grantor's successor(s) or assign(s), Grantee and the United States e~ch h~ve a tien against the Property for the arnount of their sh~rre c~e each of them. This Conservation Easemeat may oflly be Extinguished with the joint approval of tha Grantce, the NCDACS, and the Unitcd St~tes. Grantor, upon receipt of natification of any pending condemnation ection brought by any government entity af~ecting and/or relating to the Propecty, shall notify the Grantee and the United States of America, in writing, within fiRetn (15) days of receipt of aaid notification. In making this grant, the Grantor has considered the pos.sibitity that uses prohibited by the terms of this Decd of Conservation Easement may bceome more ecanomicc~llly valuab}e tl~an permitted uses, and tt~at neighbaring properties may in the fiatwe be put ent~rely to such prohihited uses. It is the intent of both the Grantor ~nd the Grantee th~t any auch ch~es shall not be c~eemed to be circumstances justifying tt~e termin~tion or cxtinguishment of this Conserv~tion Easement in whole or in part. In a~dition, the in~bil'tty of the Gratitor, or Grantor's heirs, successors, or assigns, to conduct ar imp~ement any or all of the uses perrnitted under the Pa~e 16 of Z2