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<br />NCLWF Property CE Template – rev. Oct 2023 <br />15 of 18 <br /> <br /> <br />fines, penalties, costs, expenses, and attorneys’ fees suffered or incurred as a direct or indirect <br />result of any violation of any federal, state, or local environmental or land use law or regulation <br />or of the use or presence of any hazardous substance, hazardous waste, or other regulated <br />material in, on, or under the Property. <br /> <br /> K. Entire Agreement. The Recitals set forth above and the exhibits, if any, attached <br />hereto are incorporated herein by reference. This instrument, including the Grant Contract <br />incorporated by reference herein, sets forth the entire agreement of the Parties with respect to the <br />Project and supersedes all prior discussions, negotiations, understandings, and agreements <br />relating to the Project. To the extent that this Conservation Easement is in conflict with the Grant <br />Contract, the terms of this Conservation Easement shall control. <br /> <br /> L. Interpretation and Severance. This Conservation Easement shall be construed and <br />interpreted under the laws of the State and the United States, and any ambiguities herein shall be <br />resolved so as to give maximum effect to the conservation purposes sought to be protected <br />herein. The normal rule of construction of ambiguities against the drafting party shall not apply <br />in the interpretation of this Conservation Easement. Further, this Conservation Easement shall be <br />construed to promote the purposes of the Act, which authorizes the creation of conservation <br />agreements for purposes including those set forth herein, and such conservation purposes as are <br />defined in Section 170(h)(4)(A) of the Code. If any provision of this Conservation Easement is <br />found to be invalid, the remainder of the provisions of this Conservation Easement, and the <br />application of such provisions to persons or circumstances other than those as to which it is <br />found to be invalid, shall not be affected thereby and shall remain in full force and effect. <br /> <br /> M. Parties. Every provision of this Conservation Easement that applies to Grantor or <br />to Grantee or to Fund shall likewise apply to their respective executors, administrators, <br />successors, and assigns. <br /> <br /> N. No Extinguishment through Merger. The Parties agree that the doctrine of <br />extinguishment by merger shall not apply to this Conservation Easement because of the public <br />interest in its enforcement. The Parties agree that this Conservation Easement and its terms shall <br />survive any coming together of the ownership of the fee interest in the Property and the <br />Conservation Easement interest, and that this Conservation Easement shall not be merged into <br />the fee interest. Further, the Parties agree that if Grantee, or any successor in interest to Grantee, <br />acquires title to any fee interest in the Property subject to this Conservation Easement, (i) said <br />owner shall observe and be bound by the obligations and the restrictions imposed upon the <br />Property by this Conservation Easement and (ii) this Conservation Easement shall not be <br />extinguished through the doctrine of merger in any way in view of the public interest in its <br />enforcement. <br /> <br /> O. Subsequent Liens. No provision of this Conservation Easement shall be construed <br />as impairing the ability of Grantor to use the Property for collateral for borrowing purposes, <br />provided that any mortgage or lien arising therefrom shall be subordinate to this Conservation <br />Easement. <br />Docusign Envelope ID: F21173B5-89BA-402D-A035-40030539EB5E