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Brown Conservation Easement Draft 8/28103 17 <br />Grantee. If the easement is terminated and the Easement Area is sold or taken for public use, <br />then, as required by Sec. 1.170A-14(g)(6) of the IRS regulations, the Grantee shall be entitled to <br />a percentage of the gross sale proceeds or condemnation award (minus any amount attributed to <br />new improvements made after the date of the conveyance, which amount shall be reserved to the <br />Grantor), equal to the ratio of the appraised value of this easement to the unrestricted fair market <br />value of the Easement Area, as these values are determined on the date of this Conservation <br />Easement. The Grantee shall use the proceeds consistently with the conservation purposes of this <br />Conservation Easement. <br />12. INTERPRETATION. This Conservation Easement shall be interpreted under <br />the laws of North Carolina, resolving any ambiguities and questions of the validity of specific <br />provisions as to give maximum effect to its conservation purposes. <br />13. TITLE. The Grantor covenants and represents that she is the sole owner and is <br />seized of the Easement Area in fee simple and has good right to grant and convey this <br />Conservation Easement; that the Easement Area is free and clear of any mortgages not <br />subordinated to this Conservation Easement, and that the Grantee shall have the use of and enjoy <br />all the benefits derived from and arising out of this Conservation Easement, subject to any <br />easements or encumbrances of record. <br />14. NOTICES. Any notices required by this Conservation Easement shall be in <br />writing and shall be personally delivered or sent by first class mail, to Grantor and Grantee, <br />respectively, at the following addresses, unless a party has been notified by the other of a change <br />of address. <br />To the Grantor: <br />Rebecca Hall Brown <br />708 Mary E Cook Road <br />Hillsborough, NC 27278 <br />To the Grantee: <br />Orange County Environment and <br />Resource Conservation Department <br />Orange County, North Carolina <br />P.O. Box 8181 <br />Hillsborough, NC 27278 <br />15. ENVIRONMENTAL CONDITION. The Grantor warrants that it has no actual <br />knowledge of a release or threatened release of hazardous substances or wastes on the Easement <br />Area. <br />16. SEVERABILITY. If any provision of this Conservation Easement is found to be <br />invalid, the remaining provisions shall not be altered thereby. <br />17. PARTIES. Every provision of this Conservation Easement that applies to the <br />Grantor or Grantee shall also apply to their respective heirs, executors, administrators, assigns, <br />