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Draft 81-29105 (BQCC) 16 <br />amendment shall also be consistent with the Uniform Conservation and Historic Preservation <br />Agreements Act, N C. Gen. Star. § 121-34 et seq., or any regulations promulgated pursuant to <br />that law. The Grantor and Grantee have no right or power to agree to any amendment that would <br />affect the enforceability of this Conservation Easement. <br />IL PROCEDURE IN THE EVENT OF TERMINATION OF <br />CONSERVATION EASEMENT. If it determines that conditions on or surrounding the <br />Grantor's Property change so much that it becomes impossible to fulfill the conservation <br />purposes of this Conservation Easement, a court with, jurisdiction may, at the joint request of <br />both the Grantor and the Grantee, terminate or modify the Conservation Easement created by this <br />Deed in accordance with applicable State law. If the Conservation Easement is terminated and <br />the Grantor's Property is sold, then as required by Section 1,1 70A-14(g)(6) of the IRS <br />regulations, the Grantee shall be entitled to thirty-one percent (31 %) of the net sale proceeds <br />(equal to the ratio of the purchase price of this Conservation Easement to the unrestricted fair <br />market value of the Property, as these values are determined on the date of this Conservation <br />Easement), subject to any applicable law which expressly provides for a different disposition of <br />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 />12. PROCEDURE IN THE EVENT OF CONDEMNATION OR EMINENT <br />DOMAIN. Grantor and Grantee recognize that the partial sale of this Conservation Easement <br />gives rise to a property right, immediately vested in the Grantee, with a fair market value equal <br />to the proportionate value that the Conservation Easement bears to the value of the Grantor's <br />Property prior to the restrictions imposed by the Conservation Easement. Accordingly, if any <br />condemnation or eminent domain action shall be taken, on all or part of the Grantor's Property, <br />by any authorized public authority, said authority shall be liable to the Grantee for the value of <br />the property right vested in 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 Grantor's Property or the <br />entire Property by a public authority renders it impossible to fulfill any of the conservation <br />purposes of this Conservation Easement on all or part of the Easement Area, this Conservation <br />Easement may be terminated or modified accordingly through condemnation proceedings. <br />Grantor and Grantee agree that this Conservation Easement is a currently vested real property <br />right with a value equal to the proportionate value of the Conservation Easement to the <br />unencumbered value of the fee, as of the date of this Conservation Easement. If the <br />Conservation Easement is terminated or modified and any or all of the Grantor's Property is sold <br />or taken for public use, then, as required by Section 1.170A-14(g)(6) of the IRS regulations, the <br />Grantee shall be entitled to the proportionate value of the Conservation Easement, which has <br />been predetermined at thirty-one percent (31 %) of the Property's unrestricted value, subject to <br />any applicable law that expressly requires for a different disposition of the proceeds. <br />Page 16 of 16