09.03 - Acceptance of Land Donation - Mayo Lake

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7.3. Extint�uishment. Tk�is Easement may be extingzcislzed only through judiclal proceedings and nnly undez the following circumstances: � a. This Basement may ba extingeiishsd only (i) if unexpected change in the conditions of or suirounding tho Protected Pro�erty makas the conti�atied use of die Pratected Properry for the conservation purposes set aut above imgossible or impractical or {xi) pursuant to the pr�per exercise of the power of eminezit domain. b, Tt�e 4wner recognizes that uses of the Protected �'roperty prohibited by this Easernent may, i;n the future, become more economicaliy viable than those uses permitted by the Basemen�. The Owner aiso recognizas that neighboring properties rnay, in the future, bo put entirely to uses not permitted an the Protected �roperty by this Easement. The Owner and tk�e Trust believe that sucka claac�ges will increase tlie public benefit pxovided by this Easoz�r►ent. There1'at�e, such changes ara not considered unexpected ehanges and sha11 not be deezned to be circu�stances justifying tlze extinguisk�ment of this Laseznent as otherwise sei �orth above, 7.�+. Proceeds, If this Easeznent is extii�guished or termi�ated in whole or in part, the 'I'rust is entitled to a portion of any proceeds of a sale, exchang� or involuntary eanversion in au amount that is equal to tha fair markct va.�ue of this �asernent at � the time af the extino ishment but tl�at is izot less than an a.�rzount equal to tt�a proportionate value that this Bas�nnent bca�s tn the value of the Pcatected Property as a whole at the tim� of this c�nvayance. The'�'ivst shall use its share of any proceeds in a manner consistcnt with the conservation purposes of this �asement, 7,5. Wan�antias. The Owner represents and wa�rants �s fotlows; a. The 4wner is the sole owner of the Protected Pro�erty iz� fea simple and bas the righC and ability to convey ihis �asement to the �'rust, b, Tb� Protec;tec3 Property is fi�ee and elear o£ all eneumbrances other than ihose subordinated to this Eascment. c. The Owner has no aatuAl lcnawleclge a�any use or rele�lse ofhazardous waste or toxic substances on the Protected 1'roperty th�at is u1 violation of a fcderal, state or [ocal environmer�t�l law and wxll defend, lndamtxify az�d hold tf�e Tivst harmle,�s against any claims of contaminatian from such substances. 7,6. Real Estate Taxes, The Ov�ra�er shall pay all real estate taxes and assessm�nts IeviEd against the �'rotected Property, includin� any levied against the intarest of the Tx�ust created by this Easema�it. The Trust may, at its discretion, pay any outstandi�i�; Gixcs or assessments A.nd shall fl�en be entitled to reiinbursemeixt from the Owner, �' 10