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l� <br /> '1101O <br /> 12 . PROCEDURE IN THE EVENT OF CONDEMNATION OR EMINENT <br /> OMAIN. Grantor and Grantees recognizethat the partial sale this Conservati <br /> e o <br /> on Easement <br /> Iv property right,es rise to a ri immediate) vested in the Grantees , with a fair market value equal <br /> Y <br /> tto 'e proportionate value that the Conservation Easement bears to the value of the Grantor ' s <br /> Pr*rty prior to the restrictions imposed by the Conservation Easement . Accordingly , if any <br /> con mnation or eminent domain action shall be taken, on all or part of the Grantor ' s Property , <br /> by any a horized authority , said authority shall be liable to the Grantees for the value of the <br /> prope ht vested in the Grantees at the time of the signing of this Conservation Easement . <br /> If c f emnation or a taking by eminent domain of a part of the Grantor ' s Property or the <br /> entire Prope by a public authority renders it impossible to fulfill any of the conservation <br /> purposes of th onservation Easement on all or part of the Property, this Conservation <br /> Easement may erminated or modified accordingly through condemnation proceedings . <br /> Grantor and Grans 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 ' terminated or modified and any or all of the Grantor ' s Property is sold <br /> or taken for public use , * , as required by Section 1 . 170A. 14 (g) (6) of the IRS regulations , the <br /> Grantees shall be entitled* <br /> ntitled he proportionate value of the Conservation Easement, which has <br /> been redetermined at six cent 60 % of the Easement Area ' s unrestricted value less the <br /> P tY ( ) <br /> value of structures located wio. the Farmstead Area, subject to any applicable law that <br /> expressly requires for a differeiedisposition of the proceeds . <br /> If, however, after the condvrnnation or eminent domain proceedings , a court of <br /> jurisdiction does not include in the t ompensation awarded as a result of the taking , the <br /> amount of the Conservation Easemenl value , then the Grantor shall not be responsible to share <br /> any proceeds awarded . 6 <br /> All condemnation related expense ' eluding reasonable attorney fees, incurred by the <br /> Grantor and the Grantee shall be paid out o recovered proceeds prior to distribution of the <br /> net proceeds as described herein. <br /> Be INTERPRETATION . This Cons ation Easement shall be interpreted under <br /> the laws of North Carolina, resolving any ambiguiFes, and questions of the validity of specific <br /> provisions as to give maximum effect to its conservation purposes . <br /> 14 . INDEMNIFICATION AND INSURAPO . Grantor agrees to indemnify and <br /> hold Grantees harmless from any and all costs, claims or 10 ility, including but not limited to <br /> reasonable attorneys' fees arising from any personal injury , accidents , negligence or damage <br /> relating to the Property , or any claim thereof, unless due to tl %egligence of Grantees or their <br /> agents , in which case liability shall be as provided by law. Inition, Grantor agrees to <br /> maintain liability insurance covering the Property with the limits follows : (1) $ 300 , 000 per <br /> person for personal injury or death, up to $ 300 , 000 per occurrence nd (ii) $ 300 , 000 per <br /> Page 16 of 25 <br /> O <br />