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II�I��I��l������1�111�1��II1NIIl i IIIIIIiIINII lli <br /> RB5821 542 11119 <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 seg., or any regulations promulgated <br /> pursuant to that law. Grantors 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 /> Grantors and the Grantee, terminate or modify the Conservation Easement created by this Deed <br /> in 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 Grantors),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 /> Grantors and the Grantee shall be paid out of any recovered proceeds prior to distribution of the <br /> net proceeds as described herein. <br /> 12. PROCEDURE IN THE EVENT OF CONDEMNATION OR EMINENT <br /> DOMAIN. Grantors and Grantee recognize that the partial sale of this Conservation Easement <br /> gives rise to a property right, immediately vested in the Grantee, with a fair market value equal <br /> to the proportionate value that the Conservation Easement bears to the value of the Easement <br /> Area prior to the restrictions imposed by the Conservation Easement. Accordingly, if any <br /> condemnation or eminent domain action shall be taken, on all or part of the Easement Area,by <br /> any authorized authority, said authority shall be liable to the Grantee for the value of the property <br /> right vested in the Grantee at the time of the signing of this Conservation Easement. <br /> If condemnation or a taking by eminent domain of a part of the Easement Area or the <br /> entire Easement Area by a public authority renders it impossible to fulfill any of the conservation <br /> purposes of this Conservation Easement on all or part of the Easement Area,this Conservation <br /> Easement may be terminated or modified accordingly through condemnation proceedings. <br /> Grantors and Grantee agree that this Conservation Easement is a currently vested real property <br /> right with a value equal to the proportionate value of the Conservation Easement to the <br /> unencumbered value of the fee,as of the date of this Conservation Easement. If the <br /> Conservation Easement is terminated or modified and any or all of the Easement Area is sold or <br /> taken for public use,then, as required by Section 1.170A-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 /> Page 11 of 15 <br />