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Lee Farm Conservation Easement BOCC Draft <br />21. Amendment of Conservation Easement <br />This Conservation Easement maybe amended only with the written consent of Grantee, <br />Grantors, and the United States. Any such amendment shall be consistent with the Statement of <br />Purposes of this Conservation Easement and with Grantee's Conservation Easement amendment <br />policies, and shall comply with Section 170(h) of the Internal Revenue Code or any regulations <br />promulgated in accordance with that section. Any such amendment shall be duly recorded. <br />22. Procedure in the Event of Termination of Conservation Easement <br />If it determines that conditions on or surrounding the Property change so much that it <br />becomes impossible to fulfill the conservation purposes of this Conservation Easement, a court <br />with jurisdiction may, at the joint request of both the Grantors and Grantee and with prior <br />consent of the United States Department of Agriculture, terminate or modify the Conservation <br />Easement created by this Deed in accordance with applicable law. If the Conservation Easement <br />is terminated and the Property is sold then as required by Section 1.1 70A-14(g)(6) of the IRS <br />regulations, Grantee shall be entitled to fifty-six percent (56%) of the net sale proceeds (equal to <br />the ratio of the purchase price of this Conservation Easement to the unrestricted fair market value <br />of the Property, as these values are determined on the date of this Conservation Easement), <br />subject to any applicable law which expressly provides for a different disposition of the proceeds. <br />The Grantee and the United States of America shall divide the resulting proceeds in accordance <br />with the percentage of the purchase price of the Conservation Easement that each party <br />contributed. The percentages are 50% for the Grantee and 50% for the United States of America. <br />All termination related expenses incurred by the Grantors and Grantee shall be paid out of <br />any recovered proceeds prior to distribution of the 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 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 Properly, by any authorized authority, <br />said authority shall be liable to Grantee for the value of the property right vested in Grantee at the <br />time of the signing of this Conservation Easement. Due to the federal interest in this Deed, the <br />United States must consent to any condemnation action. <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, the 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 has to the unencumbered value of the fee, <br />Page 12 of 17 <br />