Agenda - 12-02-1996 - 14b - Laserfiche WebLink

Browse Search

17 damages resulting from it,and the proceeds shall be divided in accordance with the proportionate value of the Grantee's and Grantor's interests, and Grantee's proceeds shall be used as specified above. All expenses incurred by the Grantor and the Grantee in such action shall be paid out of the recovered proceeds. 16. Option. Grantee shall have an option to obtain the entire protected props rty in fcc by deed of gift from Grantor within one year of the date of recording of the final plat for the final a phase of University Manor subdivision as the subdivision is described in the Concept Plan approved by the Orange County Planning Board on May 20, 1996 but in all events no later than December 1, 1998. Grantee may exercise this option upon written notice to Grantor 17. 1VIiscetlaaeflus Provisions. 17.1 Severability. If any provision of this Conservation Easement or the application thereof to any person or circumstance is found to be invalid, the remainder of the provisions of this Conservation Easement and the application of such provisions to persons or circumstances other than those as to which it is found to be invalid shall not be affected thereby. 17.2 Su, , aM!► .The terra"Grantor" shall include the Grantor and the Grantor's heirs, executors, administrators, successors and assigns and shall also mean the masculine, feminine, corporate, singular or plural form of the word as needed in the context of its use. The term 'Grantee" shall include the Orange County, North Carolina and its successors and assigns. 17.3 Re-recording. The Grantee is authorized to record or file any notices or instruments appropriate to assure the perpetual enforceability of this Conservation Easement; for such purpose, the Grantor appoints the Grantee his attorney-in-fact to execute, actcnowledge and cov.ouw.rgm.w Zgftmb.It.19M I 1