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Draft 8/l6/04 24 <br />the agency or organization expressly agrees to assume the responsibility imposed on Grantee by <br />this Deed.. If both parties Grurtee ever cease to exist or no longer qualify under Section 170(h) of <br />the U,S. Internal Revenue Code, or applicable state law, a court with,jurisdiction shall transfer <br />this Conservation Easement to another qualified organization having similar purposes that agrees <br />to assume the responsibility imposed by this Conservation Easement, <br />ll. Transfer of Property <br />The Grantors agree to incorporate by reference the terms of this Conservation Easement <br />in any deed or other legal instrument by which they transfer or divest themselves of any interests, <br />including leasehold interests, in all or a portion of the Property. The Grantors shall notify <br />Grantee in writing at least thirty (.30) days before conveying the Property, or any part thereof or' <br />interest therein. Failure of Grantors to incorporate by reference the terms of this Conservation <br />Easement in an instrument of transfer or conveyance or to notify Grantee of a transfer or <br />conveyance shall not impair the validity of this Conservation Easement or limit its enforceability <br />in any way. <br />12.. Anzerrdn:ent of Conservation Easement <br />This Conservation Easement maybe amended only with the written consent of Grantee <br />and the Grantors. Any such amendment shall be consistent with the Statement of Purposes of <br />this Conservation Easement and with Grantee's Conservation Easement amendment policies, and <br />shall comply with Section 170(h) of the Internal Revenue Code or any regulations promulgated <br />in accordance with that section. Any such amendment shall be duly recorded. <br />13 Pr°ocedure ir: the Event of Termination of Coraervation 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 Grantors and the parties Grantee, terminate <br />or modify the Conservation Easement created by this Deed in accordance with applicable State <br />law, If the Conservation Easement is terminated and the Property is sold, then as required by <br />Section 1.1 70A-14(g)(6) of the IRS regulations, Grantee shall be entitled to <br />peicent (_ %) of the net sale proceeds (equal to the ratio of the appraised value of this <br />Conservation Easement to the unrestricted fair market value of the Property, as these values are <br />determined on the date of this Conservation Easement), subject to any applicable law which <br />expressly provides for a different disposition of the proceeds. <br />All termination related expenses incurred by the Grantors and Grantee shall be paid out of <br />any recovered proceeds prior to distribution of the net proceeds as described herein, <br />24. Procedure in the Event of Condemnation or Eminent Domain <br />Grantors and Grantee recognize that the partial sale of this Conservation Easement gives <br />rise to a property right, immediately vested in Grantee, witlr a fair market value equal to the <br />