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BOOK 2757 PAGE 120 <br /> Shy Conservation Easement <br /> 10. AMENDMENT OF EASEMENT. This easement may be amended only with <br /> the written consent of Grantors and Grantee. Any such amendment shall be consistent with the <br /> purposes of this Conservation Easement and shall comply with Sec. 170(h)of the Internal <br /> Revenue Code,or any regulations promulgated in accordance with that section. Any such <br /> amendment shall also be consistent with the Uniform Conservation and Historic Preservation <br /> Agreements Act,N.C. Gen. Stat. § 121-34 et seq.,or any regulations promulgated pursuant to <br /> that law. The Grantors and Grantee have no right or power to agree to any amendment that <br /> would affect the enforceability of this Conservation Easement. <br /> 11. TERMINATION OF EASEMENT. If it is determined by a court of jurisdiction <br /> that conditions on or surrounding the Easement Area have changed so much that it is impossible <br /> to fulfill the conservation purposes set forth above, a court with jurisdiction may, at the joint <br /> request of both the Grantors and Grantee,terminate this Conservation Easement. <br /> If condemnation of a part of the Easement Area or of the entire Easement Area by public <br /> authority renders it impossible to fulfill these conservation purposes,the Conservation Easement <br /> may be terminated by a court with jurisdiction. <br /> At the time of the conveyance of the Conservation Easement to the Grantee,this <br /> Conservation Easement gives rise to a real Easement Area right,immediately vested in the <br /> Grantee. If the easement is terminated and the Easement Area is sold or taken for public use, <br /> then,as required by Sec. 1.1 70A-I 4(g)(6)of the IRS regulations, the Grantee shall be entitled to <br /> a percentage of the gross sale proceeds or condemnation award(minus any amount attributed to <br /> new improvements made after the date of the conveyance,which amount shall be reserved to the <br /> Grantors), equal to the ratio of the appraised value of this easement to the unrestricted fair market <br /> value of the Easement Area, as these values are determined on the date of this Conservation <br /> Easement. The Grantee shall use the proceeds consistently with the conservation purposes of this <br /> Conservation Easement. <br /> 12. INTERPRETATION. This Conservation Easement shall be interpreted under <br /> the laws of North Carolina,resolving any ambiguities and questions of the validity of specific <br /> provisions as to give maximum effect to its conservation purposes. <br /> 13. TITLE. The Grantors covenant and represent that they are the sole owners and <br /> are seized of the Easement Area in fee simple and have good right to grant and convey this <br /> Conservation Easement; that the Easement Area is free and clear of any mortgages not <br /> subordinated to this Conservation Easement, and that the Grantee shall have the use of and enjoy <br /> all the benefits derived from and arising out of this Conservation Easement,subject to any <br /> easements or encumbrances of record. <br /> Page 11 of 16 <br />