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B. Conservation Purpose. <br /> <br />Grantor, for itself, its successors and assigns, declares that this <br />Conservation Easement is established exclusively for conservation <br />purposes, as defined in 26 U.S.C. Section 170(h)(4)(a). <br /> <br />Grantor declares that the terms of this Conservation Easement shall <br />survive any merger of the fee and easement interests in the Property or any <br />portion thereof and shall not be amended, modified or terminated without <br />the prior written consent and written approval of the Corps. <br /> <br /> C. Construction of Terms. This Conservation Easement shall be construed to <br />promote the purposes of the North Carolina enabling statute set forth in N.C.G.S. § 121-34 et <br />seq., which authorizes the creation of conservation easements for purposes including the <br />conservation purposes of this Conservation Easement, including such purposes as are defined in <br />26 U.S.C. Section 170(h)(4)(A). <br /> <br /> D. Recording. Grantor shall record this instrument and any amendment hereto in <br />timely fashion in the Registry of Cabarrus County, North Carolina and may re-record it at any <br />time as may be required to preserve its right under this Conservation Easement. <br /> <br /> E. Hazardous Waste. The Grantor covenants and represents that, to the best of <br />Grantor's knowledge, no hazardous substance or hazardous or toxic waste exists nor has been <br />generated, treated, stored, used, disposed of, or deposited in or on the Property. <br /> <br /> F. Notices. Any notices given under this Conservation Easement shall be in writing <br />and shall be delivered by depositing same in the U.S. Mail, certified, return receipt requested, <br />postage prepaid and addressed to the parties as set forth above, and to the Corps at the <br />Wilmington District or to such other addresses any such party may establish in writing to the <br />others, pursuant to this notice provision. <br /> <br /> G. Amendments. Grantor, its successors and assigns, is free to amend this <br />Conservation Easement in writing to meet changing conditions, provided that no amendment will <br />be allowed that is inconsistent with the purposes of this Conservation Easement and that has not <br />been approved by both Grantee and the Corps. Such amendment(s) shall be effective upon <br />recording in the Registry of Cabarrus County, North Carolina. <br /> <br /> H. Severabilit¥. Should any provision of this Conservation Easement be declared by <br />any tribunal of competent jurisdiction to be illegal, invalid or unenforceable, the legality, validity <br />and enforceability of the remaining parts, terms or provisions shall not be affected thereby, and <br />said illegal, unenforceable, or invalid part, term, or provision shall be deemed not to be a part of <br />this Conservation Easement. <br /> <br /> I. Governing Law. This Conservation Easement shall be governed by and construed <br />in accordance with the laws of the State of North Carolina. <br /> <br />7 1659265,01 <br /> LIB:CH <br /> <br /> <br />