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RB6404 102 14 / 20 <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 Grantor) , 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 Grantor shall not be responsible to share <br /> any proceeds awarded . <br /> All condemnation-related expenses, including reasonable attorney fees, incurred by the <br /> Grantor and Grantee shall be paid out of any recovered proceeds prior to distribution of the net <br /> 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 Grantor 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 full 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 interests 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 Grantor and Grantee respectively at the following addresses, unless <br /> a party has been notified in writing by the other of a change of address : <br /> Page 14 of 18 <br />