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4U <br />I. Tnt ~retation. These Restrictive Covenants shall be construed and interpreted under <br />the laws of the State of North Carolina, any ambiguities herein shall be resolved so as to give <br />maximum effect to the conservation purpose sought to be protected herein <br />J. Patties. Every provision of these Restrictive Covenants that apply to the Grantor or <br />to the Grantee shall likewise. apply to their respective successors, assigns and grantees and all other <br />successors in interest herein. <br />K. Merger. The parties agree that the terms of these Restrictive Cove~aants shall <br />survive any merger of the fee and easement interest in the Property. <br />L. Subsequent Liens. No provisions of these Restrictive Covenants shall be <br />construed as impairing the ability of Grantor to use this Property for collateral far borrowing <br />purposes, provided that any mortgage or lien arising therefrom shall be subordinated to these <br />Restrictive Covenants. <br />IN WITNESS WHEREOF, Grantor, by authority duly given, has hereunto caused these <br />presents to be executed by their respective officers and its seal afFixed, to be effective the day and <br />year first above written. <br />GRAN'T'OR: <br />By: <br />Title: <br />ATTEST: <br />Title: <br />[SEAL] <br /> <br />