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Property, as these values are determined on the date of this Conservation Easement), subject to <br /> any applicable law 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 /> 23. Procedure in the Event of Condemnation or Eminent Domain <br /> Grantors and Grantee recognize that the partial sale of this Conservation Easement gives <br /> rise to a property right, immediately vested in the Grantee, with a fair market value equal to the <br /> proportionate value that the Conservation Easement bears to the value of the Property prior to the <br /> 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 public <br /> authority, said authority shall be liable to the Grantee for the value of the property right vested in <br /> 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 Property or the entire <br /> Property by a public authority renders it impossible to fulfill any of the conservation purposes of <br /> this Conservation Easement on all or part of the Property, this Conservation Easement may be <br /> terminated or modified accordingly through condemnation proceedings. Grantors and Grantee <br /> agree that the Conservation Easement is a currently vested real property right with a value equal <br /> to the proportionate value the Conservation Easement to the unencumbered value of the fee, as of <br /> the date of this grant. If the Conservation Easement is terminated or modified and any or all of <br /> the Property is sold or taken for public use, then, as required by Section 1.1 70A-I 4(g)(6) of the <br /> IRS regulations, Grantee shall be entitled to the percentage of gross sale proceeds or <br /> condemnation award (minus any amount attributed to new improvements made after the date of <br /> the conveyance, which amount shall be reserved to Grantors), equal to the ratio of the appraised <br /> value of this Conservation Easement to the unrestricted fair market value of the Property, as <br /> these values are determined on the date of this Conservation Easement, subject to any applicable <br /> law which expressly requires for a different disposition of the proceeds. <br /> If, however, after the condemnation or eminent domain proceedings, a court of <br /> jurisdiction does not include in the just compensation awarded as a result of the taking, the <br /> amount of the Conservation Easement value, then the Grantors shall not be responsible to share <br /> any proceeds awarded. <br /> All condemnation-related expenses, including reasonable attorney fees, incurred by the <br /> Grantors and Grantee shall be paid out of any recovered proceeds prior to distribution of the net <br /> proceeds as described herein. <br /> Page 14 of 18 <br />