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further will report immediately to State and Fund any observed and/or known violations of this
<br /> Conservation Easement or the Grant Contract . The Parties acknowledge that the associated
<br /> stewardship monies awarded under the Grant Contract are administered pursuant to N. C . G . S .
<br /> 143B435 . 236 which establishes the North Carolina Conservation Easement Endowment Fund,
<br /> an successor law, and Fund ' s internal policies and procedures, and that Eno River
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<br /> %ociation ' s obligation to monitor the Easement Area at any given time is contingent on the
<br /> av9pability of said stewardship funds . Further, the Parties acknowledge that this obligation to
<br /> mor�tor the Easement Area is assignable provided such assignment is made with the prior
<br /> writtenMroval of Fund and evidenced by a written instrument signed by the Parties to the
<br /> assig t and recorded in the Office of the Register of Deeds of Orange County . Provided
<br /> further, t any such assignment of Eno River Association' s obligation to monitor the Easement
<br /> Area shall ' lude a right of entry onto the Property and the Easement Area for the assignee of
<br /> said monito� obligation, and shall require the monitoring to be carried out in accordance with
<br /> and subject to C . G . S . § 143B435 . 236 or any successor law, and Fund ' s internal stewardship
<br /> policies and prures . The Parties specifically acknowledge that neither Eno River
<br /> Association ' s ob ition to monitor the Easement Area, nor its assignment of said obligation,
<br /> shall have any effect on the rights and obligations of Grantee of this Conservation Easement.
<br /> Further, the Parties covenant that the obligation to provide monitoring of the Easement Area will
<br /> survive any transfer of Grantor ' s fee interest in the Property .
<br /> B . Subse ue ransfers of the Fee or Other Interests • Licenses . Grantor agrees for
<br /> itself, its successors and asWWi , that in the event it intends to transfer the Property, any interest
<br /> in the Property , any portion f e Property that includes the Easement Area, or any license to
<br /> use the Easement Area, to note fAGrantee and Fund in writing of the names and addresses of any
<br /> party to whom the Property , anyoi3�terest in the Property , any portion of the Property that includes
<br /> the Easement Area, or any licenso 6 use the Easement Area, is to be transferred, the nature of
<br /> the interest or license to be transferal, and the terms and conditions of the intended transfer, at
<br /> least sixty (60) days before the transfer is intended to be consummated . Grantor, for itself, its
<br /> successors and assigns , further agrees to ake specific reference to this Conservation Easement
<br /> in a separate paragraph of any subseque ase , deed, license , or other legal instrument by which
<br /> any interest or license in the Property is c eyed . The Property owner shall not convey the
<br /> Property or any interest or license therein, an all not incur, assume, or suffer to exist any lien,
<br /> upon or with respect to the Property , wi#hout� osin to e prospective p p1 g the p p tive transferee the
<br /> Conservation Easement, the obligations of the P erty owner, and the limitations on use of the
<br /> Property . No interest or license in the Property sh4be transferred except in writing in accordance
<br /> with the above . Nothing in this Paragraph abrogatedr limits Paragraph J of Article III hereof.
<br /> Co Subsequent Transfers of the Conservation Easement . The Parties hereto recognize
<br /> and agree that the benefits of this Conservation Easeme e in gross and assignable with any
<br /> such assignee having all the rights and remedies of Gran hereunder , The Parties hereby
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<br /> covenant and agree , that in the event this Conservation Easeient is transferred or assigned , the
<br /> transferee or assignee of the Conservation Easement will be i alified organization as that term
<br /> is defined in Section 170 (h) (3 ) of the Internal Revenue Code o N986 (the " Code ") , as amended,
<br /> or any successor section, and the regulations promulgated theretiaer that is organized or
<br /> operated primarily for one of the conservation purposes specif ed iQ Section 170 (h) (4) (A) of the
<br /> Code, a qualified holder as that term is defined in the Act or any stcc ssor statute , and a
<br /> qualified grant recipient pursuant to N . C . G . S . Chapter 143B , Article, art 41 , The Parties
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