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15 <br />consent of both Grantor and Grantee and shall be effective upon recording in the public <br />records of Orange County, North Carolina. <br />H. Environmental Condition of Easement Area, The Grantor warrants, represents <br />and covenants to the Grantee that to the best of its knowledge after appropriate inquiry and <br />investigation that: (a) the Easement Area described herein is and at all times hereafter will <br />continue to be in full compliance with all federal, state and local environmental laws and <br />regulations, and (b) as of the date hereof there are no hazardous materials, substances, wastes, <br />or environmentally regulated substances (including, without limitation, any materials <br />containing asbestos) located on, in or under the Easement Area or used in connection <br />therewith, and that there is no environmental condition existing on the Easement Area that <br />may prohibit or impede use of the Easement Area for the purposes set forth in the Recitals and <br />the Grantor will not allow such uses or conditions except for the groundwater contamination <br />further described in Exhibit C. <br />I. Entire Agreement. This instrument sets forth the entire agreement of the <br />parties with respect to the Conservation Easement and supersedes all prior discussions, <br />negotiations, understandings or agreements relating to the Conservation Easement. If any <br />provision is found to be invalid, the remainder of the provisions of this Conservation <br />Easement, and the application of such provision to persons or circumstances other than those <br />as to which it is found to be invalid, shall not be affected thereby. The party (ies) hereto intend <br />this document to be au instrument executed under seal. If any party is an individual, <br />partnership or limited liability company, such party hereby adopts the word "SEAL' following <br />his/her signature and the name of the partnership or limited liability company as his/her /its <br />legal seal. The Recitals set forth above and the Exhibits attached hereto are incorporated <br />herein by reference. <br />J. Indemnity. The Grantor agrees to the fullest extent permitted by law, to <br />defend, protect, indemnify and hold harmless Grantee fiom and against all claims, actions, <br />liabilities, damages, fines, penalties, costs and expenses suffered as a direct or indirect result of <br />any violation of any federal, state, or local environmental or land use law or regulation or of <br />the use or presence of hazardous substance, waste or other regulated material in, on or under <br />the property. <br />K. Interpretation. This Conservation Easement shall be construed and interpreted <br />under the laws of the State of North Carolina, and any ambiguities herein shall be resolved so <br />as to give maximum effect to the conservation purposes sought to be protected herein. <br />L. Parties. Every provision of this Conservation Easement that applies to the <br />Grantors or to the Grantee shall likewise apply to their respective heirs, executors, <br />administrators, assigns, and grantees, and all other successors in interest herein. <br />M. Merger. The parties agree that the terms of this Conservation <br />Easement shall survive any merger of the fee and easement interest in the Property and <br />Easement Area. <br />15 <br />