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Draft 12/1/03 (clean) 16 <br />proportionate value that the Easement bears to the value of the Property prior to the restrictions <br />imposed by the Easement. Accordingly, if any condemnation or eminent domain action shall <br />be taken, on all or part of'the Property, by any authorized public authority, said authority shall <br />be liable to the Grantee for the value of the property right vested in the Grantee at the time of <br />the signing of this 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 <br />of this Easement on all or part of the Property, the Easement may be terminated or modified <br />through condemnation proceedings. If the Easement is terminated or modified and any or all <br />of the Property is sold or taken for public use, then, as required by Section 1.170A-14(g)(6) of <br />the IRS regulations, the Grantee shall be entitled to the proportionate value of the Easement, <br />which has been predetermined at percent (_%) of the Property's unrestricted <br />value, subject to any applicable law which expressly requires for a different disposition of the <br />proceeds. The Grantee shall use its proceeds consistently with the general conservation <br />purposes of this Easement. <br />If this Easement is extinguished or terminated, the United States Department of <br />Agriculture, Natural Resources Conservation Service and the C,rantee shall receive its <br />proportional share of the Easement value at the time of termination. Those proportional shares <br />of the Easement are as follows: _% to .Grantee and _% to the United States Department of <br />Agriculture, Natural Resources Conservation Service. <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 Easement value, then the Grantor shall not be responsible to share any proceeds <br />awarded. <br />Al] termination-related or condemnation-related expenses incurred by the Grantors and <br />the 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 Easement shall be interpreted under the laws of the State of North Carolina, <br />resolving any ambiguities and questions of the validity of specific provisions so as to give <br />maximum effect to its conservation purposes, <br />25. Perpetual Duration,• SeveraUility <br />The Easement created by this Deed shall be a servitude running with the land in <br />perpetuity.. Every provision of this Deed that applies to the Grantors or the Grantee shall also <br />apply to their respective agents, heirs, Executors, administrators, assigns, and all other <br />successors as their interests may appear. Invalidity of any of the covenants, terms or <br />conditions of this Easement, or any part thereof by court order or ,judgment shall in no way, <br />