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Orange County, NC 20180815000156930 Bk: 6509 Pg: 108 13 / 20 <br />17 <br />21. Amendment of Conservation Easement <br />This Conservation Easement may be amended only with the written consent of the <br />Grantee and Grantor. Any such amendment shall be consistent with the Statement of Purposes of <br />this Conservation Easement and with the Grantee Conservation Easement amendment policies, <br />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 Grantor and Grantee, terminate or modify <br />the easement created by this Conservation Easement in accordance with applicable law. If the <br />Conservation Easement is terminated and the Property is sold, then as required by Section 1.1 <br />70A- 14(g)(6) of the IRS regulations, the Grantee shall be entitled a percentage of gross sale <br />proceeds or condemnation award (minus any amount attributed to new improvements made after <br />the date of the conveyance, which amount shall be reserved to Grantor), equal to the ratio of the <br />appraised value of this Conservation Easement to the unrestricted fair market value of the <br />Property, as these values are determined on the date of this Conservation Easement), subject to <br />any applicable law which expressly provides for a different disposition of the proceeds. <br />All termination related expenses, including reasonable attorney fees, incurred by the <br />Grantor and the Grantee shall be paid out of any recovered proceeds prior to distribution of the <br />net proceeds as described herein. <br />23. Procedure in the Event of Condemnation or Eminent Domain <br />Grantor and Grantee recognize that the partial sale of this Conservation Easement gives <br />rise to a property right, immediately vested in the 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 Property, by any authorized public <br />authority, said authority shall be liable to the Grantee for the value of the property right vested in <br />the Grantee at the time of the signing of this Conservation Easement. <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, this Conservation Easement may be <br />terminated or modified accordingly through condemnation proceedings. Grantor 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 to the unencumbered value of the fee, as of <br />the date of this grant. If the Conservation Easement is terminated or modified and any or all of <br />the Property is sold or taken for public use, then, as required by Section 1.170A- 14(g)(6) of the <br />IRS regulations, Grantee shall be entitled to the percentage of gross sale proceeds or <br />Page 13 of 20 <br />