Orange County NC Website
Browse       Search
2 . Changed Conditions . If a subsequent , unexpected change in conditions surrounding <br /> the Property makes impossible or impractical the continued use of the Property or any pant <br /> thereof for the purposes of this Conservation Easement as set forth herein , the Conservation <br /> Easement may only be extinguished in whole or in part by judicial proceeding . If this <br /> Conservation Easement is extinguished , in whole or in part, by judicial proceeding because <br /> of changed conditions, Grantee , its successors and assigns , shall be entitled to its <br /> proportionate share of the Proceeds of Sale according to Grantee ' s proportional interest in <br /> the value of the Property as determined under Treasury Regulations § 1 . 170A- 14 (g) (6) ( ii ) <br /> or any successor regulation . As such designation is allowed by N . C . G . S . § 14 &30 (a) , <br /> Grantee shall use its share of the Proceeds of Sale in a manner consistent with the <br /> purpose (s) of the Conservation Easement as set forth herein . Notwithstanding the <br /> foregoing , all Proceeds of Sale shall be distributed among the Parties according to each <br /> Party ' s respective contribution to the purchase price of the Property and this Conservation <br /> Easement as specified above . Nothing herein limits Grantee ' s right to be included as a <br /> named party in any judicial proceedings related to changed conditions . <br /> D . Acts Beyond Grantor ' s Control . Nothing contained in this Conservation Easement <br /> shall be construed to entitle Grantee to bring any action against Grantor for any injury or change <br /> in the Property resulting from the acts of third parties not authorized by Grantor, or from causes <br /> beyond Grantor ' s control , including , without limitation, fire, flood , storm , and earth movement, or <br /> from any prudent action taken in good faith by Grantor under emergency conditions to prevent, <br /> abate, or mitigate significant injury to life, property , or the Property , resulting from such causes . <br /> E . Costs of Enforcement . Any costs incurred by Grantee in enforcing the terms of <br /> this Conservation Easement against Grantor, including , without limitation , any costs of <br /> restoration necessitated by Grantor ' s acts or omissions in violation of the terms of this <br /> Conservation Easement, shall be borne by Grantor. <br /> F . No Waiver . Any forbearance by Grantee to exercise its rights hereunder in the <br /> event of any breach of any term set forth herein shall not be deemed or construed to be a waiver <br /> by Grantee of such term or of any subsequent breach of the same or of any other term of this <br /> Conservation Easement or of Grantee ' s rights . No delay or omission by Grantee in exercise of <br /> any right or remedy shall impair such right or remedy or be construed as a waiver . <br /> ARTICLE V . TITLE <br /> Grantor covenants , represents , and warrants (1) that Grantor is the sole owner and is seized <br /> of the Property in fee simple and has good right to grant and convey this Conservation Easement, <br /> (ii ) that there is legal access to the Property , (iii) that the Property is free and clear of any and all <br /> encumbrances, except those permitted exceptions outlined below, none of which would nullify , <br /> impair, or limit in any way the terms or effect of this Conservation Easement , ( iv) that Grantor <br /> shall defend its title and Grantee ' s title against the claims of all persons whomsoever, and (v) that <br /> Grantee, its successors and assigns , shall have the right to monitor and defend the terms of this <br /> NCLWF Property CE Template - rev. Oct 2023 <br /> 11 of 18 <br />