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AG 2018 09 17
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AG 2018 09 17
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Last modified
5/8/2019 7:18:45 PM
Creation date
5/2/2019 12:14:31 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/17/2018
Board
Board of Commissioners
Meeting Type
Regular
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determined at the time all or a part of this ALE is terminated, extinguished, or condemned by <br />an appraisal that meets the Uniform Standards of Professional Appraisal Practice (USPAP) or <br />Uniform Acquisition Standards or Federal Land Acquisition (UASFLA). The appraisal must <br />be completed by a certified general appraiser and be approved by the Grantee and the United <br />States. <br />The allocation of the Proportionate Share between the Grantee, the United States and <br />NCDA&CS will be as follows: (a) to the Grantee or its designee, _ percent of the <br />Proportionate Share; (b) to the United States _ percent of the Proportionate Share; and (e) to <br />NCDA&CS percent of the Proportionate Share; (d) _ %. Until swh,QL.S <br />the Grantee, the United States and NCDA&CS receive the Proportionate Share fro h <br />Grantor or the Grantor's successor or assign, the Grantee, the United States and CS <br />each have a lien against the Protected Property for the amount of the Proport' are due <br />each of them. If proceeds from termination, extinguishment, or condemnati n ����jj aid <br />directly to Grantee, the Grantee must reimburse the United States for tl�am�qutir"of the <br />Proportionate Share due to the United States, NCDA&CS, and (( �1 <br />6.6. Procedure in the Event of Condemnation or Eminent Do l . rifutor and Grantee recognize <br />that the sale of this Agricultural Land Easement, or any part ther f, gives rise to a property <br />right, immediately vested in the Grantee and the United S es, with a fair market value equal <br />to the proportionate value that the Agricultural Land E�t bears to the value of the <br />Protected Property prior to the restrictions impos m e Agricultural Land Easement. <br />Accordingly, if any condemnation or eminent d� coon shall be taken, on all or part of <br />the Protected Property, by any authorized publl�a. hority, said authority shall be liable to the <br />Grantee for the value of the property right yyd�s the Grantee at the time of the signing of <br />this Agricultural Land Easement. Due 'li�e7Eederal interest in this Agricultural Land <br />Easement, the United States must,Qin tt' o any such condemnation action. Due to the State's <br />interest in this Agricultural LanTEdsement, NCDA&CS must consent to any such <br />condemnation action. TTT <br />If condemnation or a taking b�eminent domain of a part of the Protected Property or the entire <br />Protected Property by a1 b e authority renders it impossible to fulfill any of the conservation <br />purposes of this A Land Easement on all or part of the Protected Property, the <br />Easement ma be t Fal <br />through condemnation proceedings. If the Agricultural Land <br />Easement is4egaunated and any or all of the Protected Property is sold or taken for public use, <br />then, as requi by Section 1 of 170A -14(g) (6) of the IRS regulations, the Grantee shall be <br />entitled to ,[he proportionate value of the ALE, which has been predetermined as the Protected <br />Pr er'ty'y S'nrestricted value, subject to any applicable law which expressly provides for a <br />diffe disposition of the proceeds. The Grantee shall use its proceeds consistently with the <br />em conservation purposes of this Agricultural Land Easement. <br />L <br />If this ALE is extinguished or terminated, the Parties shall receive compensation as described <br />in paragraph 6.5 above. <br />6.7. Interpretation. This Agricultural Land Easement shall be interpreted under the laws of the <br />State of North Carolina and the United States of America, resolving any ambiguities and <br />questions of the validity of specific provisions so as to give maximum effect to its <br />conservation purposes. <br />F-7 Page 159 <br />
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