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~~~U~~a~1~~~l~U~~~~l~~u~~~~~~~~~~~~~~~~ ~~~~~ <br />R85227 447 15/34 <br />Conservation Easement may be terminated or modified accordingly through condemnation <br />proceedings. Grantor and Grantee agree that the Conservation Easement is a currently vested <br />real property right with a value equal to the proportionate value the Conservation Easement has <br />to the unencumbered value of the fee, as of the date of this grant. If the Conservation Easement <br />is terminated or modified and any or all of the Protected Property is sold or taken for public use, <br />then, as required by Section 1.170A-14(g)(6) of the IRS regulations, Grantee shall be entitled to <br />the proportionate value of the Conservation Easement, which has been predetermined at sixty <br />percent (60 %) of the Protected Property's unrestricted value, subject to any applicable law <br />which expressly requires for a different disposition of the proceeds. <br />If this Conservation Easement is terminated or modified by condemnation acti <br />eminent domain, Grantee and the United States shall share, 47 % to Grantee and 53 % to e <br />United States, Grantee's proportional value of the Conservation Easement.~` <br />All condemnation-related expenses incurred by the Grantor Grant 11 be~Said out <br />of any recovered proceeds prior to distribution of the net proceeds cribed ein. <br />24. Interpretation <br />This Conservation Easement shall be interpreted un e the laws o he State of North <br />Carolina and the laws of the United States, resolving am ' ies an uestions of the <br />validity of specific provisions so as to give maxim~ e to i ation purposes. <br />25. Perpetual Duration; Severabil; <br />The Conservation Easement cr <br />land in perpetuity. Every provision oi <br />apply to their respective agents, heirs~ <br />as their interests may appear. Inva '~ <br />Conservation Easement, or any <br />the validity of any of the othe rovisi <br />26. Merger <br />~is d shall be a servitude running with the <br />that a ' to the Grantor or Grantee shall also <br />~dmini4~Erators, assigns, and all other successors <br />the covenants, terms or conditions of this <br />t~4order or judgment shall in no way, affect <br />rhich shall remain in full force and effect. <br />The Parties ree that erms of this Conservation Easement shall survive any merger <br />of the fee and ea Protected Property. <br />27. ' es <br />otices req ' ed by this Deed shall be in writing and shall be personally delivered or <br />sent by firs mail the Grantor and Grantee respectively at the following addresses, unless <br />a party has bee in writing by the other of a change of address: <br />Page 15 of 20 <br />