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W:' <br />11. Assignment:. This Easvmvnt is transfearable, but <br />Grantee may assign its rights and obligations wader this <br />Easement_ only to an organization that its a qualified <br />organization at the time of transfer under Section 170(h) of <br />the Internal Revenue Codes of 1954„ as amended, and they <br />applicable regulations promulgated thereunder, and authorized <br />to acquire and hold conservation U a<sement.s wider North <br />Carolina statute (Or any successor provision then <br />applicable). an a condition of such transfer, Grantee shall <br />rpqul re that the conservation Purp0seu that this grant:, is <br />0prr-ca P wp, <br />intended to advance continue to be carri ed . out . <br />11.1 ENecutory Limitation. <br />If Grantee :shall cease to <br />exist or to be a qualified Organization under Seztion 170(h) <br />of the Internal Revenul Code of 1954, as amended, or to be <br />authorized to acquire and hold conservation eaasenent a under <br />North Carolina statute, and a, prior- aBsi gnment ii not made <br />pursuant to paragraph lo, then Grantee's rights and <br />obligations under this Easement ment shall -become i mmod i at ol v <br />� �Co <br />vested in (designated c1-up <br />grantee), If ( > ;) is no longer <br />in existence at the time the right% and obligations under <br />this Easement would otherwise vest in i t,. or if (x ) is not <br />qualified or authori zet t o hold conservation easements as <br />provided for an assignment pursuant to paragraph 10, or if it <br />shall refuse such rights and c:bli.gat:i.ons, then the rights and <br />obligations under this Casement shall vest in . such <br />organization as a9 court of competent. jurisdiction shall <br />direct pursuant to the applicable North Carolina law and with <br />T <br />