Agenda - 06-16-20; 8-h - Resolution of Approval – Conservation Easement on Triangle Land Conservancy’s Patterson-Thornton Property

Browse Search

Attachment 4 Model Conservation Easement Revised Page 10 of 21 determination that the Conservation Values of the Property have been impaired by Grantor’s breach, assume the enforcement rights of Grantee pursuant to Section 7(a) and take appropriate action to enforce the terms of this Conservation Easement. 8. STEWARDSHIP OF THE EASEMENT. Grantor, its successors or assigns, will monitor and observe the Property in perpetuity to assure compliance with the purposes and provisions of this Conservation Easement, and that it will report on the condition of the Property, or provide for such reporting to Grantee no less frequently than once a year; and further will report immediately to Grantee any observed and/or known violations of this Conservation Easement. Grantor and Grantee covenant that the obligation to provide monitoring of the Property will survive any transfer of Grantor’s fee interest in the Property. 9. TRANSFER OF EASEMENT. Grantee has the right to transfer, assign, convey, or otherwise to co-hold the Conservation Easement created by this deed of conservation easement to any public agency or private nonprofit organization that, at the time of transfer, is a qualified organization under Section 170(h)(3) of the Internal Revenue Code of 1986, as amended, or any successor section, and the regulations promulgated thereunder (the “Code”) that is organized or operated primarily for one of the conservation purposes specified in Section 170(h)(4)(A) of the Code, a qualified holder as that term is defined in the Act or any successor statute, and a qualified grant recipient pursuant to N.C.G.S. Chapter 143B, Article 2, Part 41. The Parties further covenant and agree that the terms of the transfer or the assignment will be such that the transferee or assignee will be required to continue to carry out in perpetuity the purpose(s) of the Conservation Easement that the contribution was originally intended to advance as set forth herein, but acknowledge specifically that any transfer or assignment of the Conservation Easement shall have no effect on Grantor’s obligation to provide stewardship of the Conservation Easement as set forth in Section 8. If Grantee ever ceases to exist or no longer qualify under Section 170(h) of the U.S. Internal Revenue Code, or applicable State law, a court with jurisdiction shall transfer this Conservation Easement to another qualified organization having similar purposes that agrees to assume the responsibility imposed by this Conservation Easement. 10. TRANSFER OF THE PROPERTY. Grantor shall notify Grantee, in writing, at least thirty (30) days prior to any conveyance by Grantor of the Property or any interest in the Property, and the document of conveyance shall expressly refer to this Conservation Easement and, by its terms, the conveyance shall be made subject to and subordinate to this Conservation Easement. 11. AMENDMENT OF EASEMENT. This Conservation Easement may be amended only with the written consent of Grantor and Grantee. Any such amendment shall be consistent with the purposes of this Conservation Easement and shall comply with Sec. 170(h) of the Code, or any regulations promulgated in accordance with that section. Any such amendment shall also be consistent with the Uniform Conservation and Historic Preservation Agreements Act, N.C. Gen. Stat. § 121-34 et seq., or any regulations promulgated pursuant to that law. Grantor and Grantee have no right or power to agree to any amendment that would affect the enforceability of this Conservation Easement. 16