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025 <br />2012- 08- 14.THOMPSON.Conservation Easement Deed DRAFT <br />If condemnation or a taking by eminent domain of a part of the Protected Property <br />or the entire Protected Property by a public authority renders it impossible to fulfill any <br />of the conservation purposes of this Easement on all or part of the Protected Property, the <br />Easement may be terminated through condemnation proceedings. If the Easement is <br />terminated and any or all of the Protected Property is sold or taken for public use, then, as <br />required by Treas. Reg. 1.170A- 14(g)(6), the Grantee shall be entitled to proportionate <br />value of the Easement, which has been predetermined as the Protected Property's <br />unrestricted value, subject to any applicable law which expressly requires for a different <br />disposition of the proceeds. The Grantee shall use its proceeds consistently with the <br />general conservation purposes of this Easement. <br />The United States shall receive, at the time the Conservation Easement is <br />extinguished or terminated, its share of the Conservation Easement based on the <br />appraised fair market value of the Conservation Easement at the time the <br />Conservation Easement is extinguished or terminated. The United States' share <br />shall be proportionate to its percentage of its original investment. NCDA &CS, and <br />the Grantee shall receive their proportional share of the Easement value at the time <br />of termination. Those proportional shares of the Conservation Easement are as <br />follows: 20.5% to the United States, 20.7% to the North Carolina Department of <br />Agriculture and Consumer Services, and 13.6% to Orange County, North Carolina. <br />All termination - related or condemnation - related expenses incurred by the Grantor <br />and the Grantee shall be paid out of any recovered proceeds prior to distribution of the <br />net proceeds as described herein. <br />6.6. Interpretation. This Easement shall be interpreted under the laws of the State of <br />North Carolina and the United States of America, resolving any ambiguities and <br />questions of the validity of specific provisions so as to give maximum effect to its <br />conservation purposes. <br />6.7. Perpetual Duration, Severability. The Easement created by this Deed shall be a <br />servitude running with the land in perpetuity. Every provision of this Deed that applies to <br />the Grantor or the Grantee shall also apply to their respective agents, heirs, Executors, <br />administrators, assigns, and all other successors as their interests may appear. Invalidity <br />of any of the covenants, terms or conditions of his Easement, or any part thereof by court <br />order or judgment shall in no way affect the validity of any of the other provisions hereof <br />which shall remain in full force and effect. <br />6.8. Subsequent Liens on Protected Property. No provision of this Easement should be <br />construed as impairing the ability of Grantor to use the Protected Property as collateral <br />for subsequent borrowing. Any such liens shall be and remain subordinate to this <br />Easement. <br />6.9. Subsequent Easements /Restrictions on the Protected Property. The grant of any <br />easements or use restrictions that might diminish or impair the agricultural viability or <br />productivity of the Protected Property or otherwise diminish or impair the Conservation <br />20 <br />