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Lee Farm Conservation Easement BOCC Draft ~ ~j <br />as of the date of this grant. If the Conservation Easement is terminated or modified and any or all <br />of the Property is sold or taken for public use, then, as required by Section 1.170A-14(g)(6) of <br />the IRS regulations, Grantee shall be entitled to the proportionate value of the Conservation <br />Easement, which has been predetermined at fifty-six percent (56%) of the Property's unrestricted <br />value, subject to. any applicable law which expressly requires for a different disposition of the <br />proceeds. <br />If this Conservation Easement is terminated or modified by condemnation action or <br />eminent domain, the Grantee and the United States shall share, 50% to Grantee and 50% to the <br />United States, the Grantee's proportional value of the Conservation Easement. <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 incurred by the Grantors and Grantee shall be paid <br />out of any recovered proceeds prior to distribution of the net proceeds as described herein. <br />24. Interpretation <br />This Conservation Easement shall be interpreted under the laws of the State of North <br />Carolina and the laws of the United States, resolving any ambiguities and questions of the <br />validity of specific provisions so as to give maximum effect to its conservation purposes. <br />25. Perpetual Duration; Severability <br />The Conservation Easement created by this Deed shall be a servitude running with the <br />land in perpetuity. Every provision of this Deed that applies to the Grantors or Grantee shall also <br />apply to their respective agents, heirs, executors, administrators, assigns, and all other successors <br />as their interests may appear. Invalidity of any of the covenants, terms, or conditions of this <br />Conservation Easement, or any part thereof by court order or judgment shall in no way, affect the <br />validity of any of the other provisions hereof which shall remain in fia11 force and effect. <br />26. Merger <br />The Parties agree that the terms of this Conservation Easement shall survive any merger <br />of the fee and easement interest in the Property. <br />27. Notices <br />Any notices required by this Deed shall be in writing and shall be personally delivered or <br />sent by first class mail to the Grantors, Grantee, and the United States respectively at the <br />following addresses, unless a parry has been notified in writing by the other of a change of <br />address: <br />Page 13 of 17 <br />