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16 <br /> Fern Creek Conservation Easement OEM= <br /> organization under Section 170(h) of the U.S. Internal Revenue Code, as amended and under <br /> NCGS 121-34 et seq.,provided the agency or organization expressly agrees to assume the <br /> responsibility imposed on Grantee by this Deed. If the Grantee ever ceases to exist or no longer <br /> qualifies under Section 170(h) of the U.S. Internal Revenue Code, or applicable state law, a court <br /> with jurisdiction shall transfer this Conservation Easement to another qualified organization <br /> having similar purposes that agrees to assume the responsibility imposed by this Conservation <br /> Easement. <br /> 9. TRANSFER OF EASEMENT AREA. The Grantor agrees to incorporate by <br /> reference the terms of this Conservation Easement in any deed or other legal instrument by <br /> which it transfers or divests itself of any interest, including leasehold interest, in all or a portion <br /> of the Easement Area. The Grantor shall notify the Grantee in writing at least thirty (30) days <br /> before conveying the Easement Area, or any part thereof or interest therein. Failure of Grantor <br /> to do so shall not impair the validity of this Conservation Easement or limit its enforceability in <br /> any way. <br /> 10. AMENDMENT OF EASEMENT. This Conservation Easement may be <br /> amended only with the written consent of Grantor and Grantee. Any such amendment shall be <br /> consistent with the purposes of this Conservation Easement and shall comply with Sec. 170(h) of <br /> the Internal Revenue Code, or any regulations promulgated in accordance with that section. Any <br /> such amendment shall also be consistent with the Uniform Conservation and Historic <br /> Preservation Agreements Act, N.C. Gen. Stat. § 121-34 et seq., or any regulations promulgated <br /> pursuant to that law. Grantor and Grantee have no right or power to agree to any amendment <br /> that would affect the enforceability of this Conservation Easement. <br /> 11. PROCEDURE IN THE EVENT OF TERMINATION OF <br /> CONSERVATION EASEMENT. If it determines that conditions on or surrounding the <br /> Easement Area change so much that it becomes impossible to fulfill the conservation purposes of <br /> this Conservation Easement, a court with jurisdiction may, at the joint request of both the <br /> Grantor and the Grantee, terminate or modify the Conservation Easement created by this Deed in <br /> accordance with applicable State law. If the Conservation Easement is terminated and the <br /> Easement Area is sold, then as required by Section 1.1 70A-14(g)(6) of the IRS regulations, the <br /> Grantee shall be entitled to a percentage of gross sale proceeds or condemnation award (minus <br /> any amount attributed to new improvements made after the date of the conveyance, which <br /> amount shall be reserved to Grantor), equal to the ratio of the appraised value of this <br /> Conservation Easement to the unrestricted fair market value of the Easement Area, as these <br /> values are determined on the date of this Conservation Easement, subject to any applicable law <br /> which expressly provides for a different disposition of the proceeds. <br /> All termination related expenses, including reasonable attorney fees, incurred by the <br /> Grantor and the Grantee shall be paid out of any recovered proceeds prior to distribution of the <br /> net proceeds as described herein. <br /> Page 11 of 16 <br />