ORD-2012-002 Budget Amendment #5-C - Conservation Easement Dennis & Linda Brooks

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v~~~~~~~~-~lU~l~~~~l~~~~~~i~~~~i~~~«~~tu ~~~~ RB5339 66 14/24 violation, including but not limited to reasonable attomeys' fees. 'The failure of the Grantees to discover a violation or to take immediate legal action shall not bar it from doing so at a later time for that violation or any subsequent violations. In any case where the court finds that there was a complete absence of a justiciable issue of either law or fact raised by the losing party, the court may award a reasonable attorney's fee to the prevailing party as provided by applicable law. 19. Transfer of Conservation Easement Either of the Grantees shall have the right to transfer, assign, convey, or otherwise to co- hold the Conservation Easement created by this Deed to any public agency or private nonprofit organization that, at the time of transfer, is a qualified organization under Section 170(h) of the U.S. Intemal Revenue Code, as amended and under NCGS 121-34 et seq., provided the agency or organization expressly agrees to assume the responsibility imposed on the Grantees by this Deed. If both Grantees ever cease to exist or no longer qualify under Section 170(h) of the U.S. Internal Revenue Code, or applicable state law, a court with jurisdiction shall transfer this Conservation Easement to another qualified organization having similar purposes that agrees to assume the responsibility imposed by this Conservation Easement. 20. Transfer of Property The Grantors agree to incorporate by reference the terms of this Conservation Easement in any deed or other legal instrument by which they transfer or divest themselves of any interests, including leasehold interests, in all or a portion of the Property. Grantors shall notify the Grantees in writing at least thirty (30) days before conveying the Properiy, or any part thereof or interest therein. Failure of Grantors to incorporate by reference the terms of this Conservation Easement in an instrument of transfer or conveyance or to notify the Grantees of a transfer or conveyance shall not impair the validity of this Conservation Easement or limit its enforceability in any way. 21. Amendment of Conservation Easement This Conservation Easement may be amended only with the written consent of the Grantees and Crrantors. Any such amendment shall be consistent with the Statement of Purposes of this Conservation Easement and with the Grantees Conservation Easement amendment policies, and shall comply with Section 170(h) of the Internal Revenue Code or any regulations promulgated in accordance with that section. Any such amendment shall be duly recorded. 22. Procedure in the Event of Termination of Conservation Easement If it determines that conditions on or surrounding the Property change so much that it becomes impossible to fulfill the conservation purposes of this Conservation Easement, a court with jurisdiction may, at the joint request of both the Grantors and Grantees, terminate or modify the Conservation Easement created by this Deed in accordance with applicable law. If the Conservation Easement is terminated and the Property is sold, then as required by Section l.l 70A-14(g)(6) of the IRS regulations, the Grantees shall be entitled to fifty-three percent (53%) of Page 14 of 21