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<br /> <br /> <br />Page 15 of 21 <br />all of the Property is sold or taken for public use, then, as required by Section 1.170A -14(g)(6) of <br />the IRS regulations, Grantee shall be entitled to the proportionate value of the Conservation <br />Easement, which has been predetermined at fifty percent (50%) of the Property’s unrestricted <br />value, subject to any applicable law which expressly requires for a different disposition of the <br />proceeds. <br /> <br /> If, however, after the condemnation or eminent domain proceedings, a court of <br />jurisdiction does not include, in the just compensation awarded as a result of the taking, the <br />amount of the Conservation Easement value, then the Grantor shall not be responsible to share <br />any proceeds awarded. <br /> <br />All condemnation-related expenses incurred by the Grantor and Grantee shall be paid out <br />of any recovered proceeds prior to distribution of the net proceeds as described herein. <br /> <br />25. Interpretation <br /> <br />This Conservation Easement shall be interpreted under the laws of the State of North <br />Carolina and the laws of the United States, resolving any ambiguities and questions of the <br />validity of specific provisions so as to give maximum effect to its conservation purposes. <br /> <br />26. Perpetual Duration; Severability <br /> <br />The Conservation Easement created by this Deed shall be a servitude running with the <br />land in perpetuity. Every provision of this Deed that applies to the Grantor or Grantee shall also <br />apply to their respective agents, heirs, executors, administrators, assigns, and all other successors <br />as their interests may appear. Invalidity of any of the covenants, terms or conditions of this <br />Conservation Easement, or any part thereof by court order or judgment shall in no way, affect the <br />validity of any of the other provisions hereof which shall remain in full force and effect. <br /> <br />27. Merger <br /> <br />The Parties agree that the terms of this Conservation Easement shall survive any merger <br />of the fee and easement interest in the Property. <br /> <br />28. Notices <br /> <br />Any notices required by this Deed shall be in writing and shall be personally delivered or <br />sent by first class mail to the Grantor and Grantee respectively at the following addresses, unless <br />a party has been notified in writing by the other of a change of address: <br /> <br />To the Grantor: To the Grantee: <br /> <br />RambleRill Properties, LLC Orange County DEAPR <br />5407 Spring House Lane PO Box 8181 <br />Chapel Hill, NC 27516 Hillsborough, NC 27278 <br /> Attn: Jane Saiers and Darin Knapp <br />Docusign Envelope ID: F68C289B-897D-4E9C-8B77-C5477012992E