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RBS734 465 11120 <br /> having similar purposes that agrees to assume the responsibility imposed by this Conservation <br /> Easement. <br /> 9. TRANSFER OF PROPERTY. The Grantor agrees to incorporate by reference <br /> the terms of this Conservation Easement in any deed or other legal instrument by which it <br /> transfers or divests itself of any interest, including leasehold interest, in all or a portion of the <br /> Property. The Grantor shall notify the Grantee in writing at least thirty (30) days before <br /> conveying the Property, or any part thereof or interest therein. Failure of Grantor to do so shall <br /> not impair the validity of this Conservation Easement or limit its enforceability in 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 /> Property change so much that it becomes impossible to fulfill the conservation purposes of this <br /> Conservation Easement, a court with jurisdiction may, at the joint request of both the Grantor <br /> 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 /> Property is sold, then as required by Section 1.1 70A-14(8)(6) of the IRS regulations, the Grantee <br /> shall be entitled to thirty-nine percent(39%) of the net proceeds attributable to the sale of land <br /> equal to the ratio of the appraised value of this Conservation Easement to the unrestricted fair <br /> market value of the Property, as these values are determined on the date of this Conservation <br /> Easement, subject to any applicable law which expressly provides for a different disposition of <br /> 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 /> 12. PROCEDURE IN THE EVENT OF CONDEMNATION OR EMINENT <br /> DOMAIN. Grantor 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 Property prior <br /> to the restrictions imposed by the Conservation Easement. Accordingly, if any condemnation or <br /> eminent domain action shall be taken, on all or part of the Property, by any authorized authority, <br /> .said authority shall be liable to the Grantee for the value of the property right vested in the <br /> Grantee at the time of the signing of this Conservation Easement. <br /> Page 11 of 16 <br />