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a. Change of Circumstances. This Easement may be terminated or extinguished if <br /> circumstances arise that make continued use of the Protected Property in a manner <br /> consistent with the conservation purpose of this Easement impossible or <br /> impractical. In this event, this Easement may be extinguished only through <br /> judicial proceedings. <br /> b. Condemnation. This Easement may be terminated or extinguished pursuant to the <br /> proper exercise of the power of eminent domain. <br /> c. Proceeds upon Termination. Following any termination or extinguishment of this <br /> Easement in whole or in part,the Land Trust shall be entitled to a portion of the <br /> proceeds from any sale, exchange or involuntary conversion of the Protected <br /> Property. <br /> The Land Trust's share of the proceeds shall be an amount equal to the fair <br /> market value of this Easement at the time of the extinguishment but not less than <br /> an amount equal to the proportionate value that this Easement bears to the value <br /> of the Protected Property as a whole at the time of this conveyance (excluding the <br /> value of any permitted improvements made after the conveyance of this <br /> Easement). <br /> The value of this Easement at the time of extinguishment termination shall be <br /> calculated by the method required by the Internal Revenue Service for calculating <br /> an income tax deduction for a charitable donation of a conservation easement. <br /> The Land Trust will use its share of any proceeds in a manner consistent with the <br /> conservation purpose of this Easement and in accordance with Minnesota Statutes <br /> Chapter 97A.056, and Minnesota Laws 2011, First Special Session, Chapter 6, <br /> Article 1, Section 2, Subdivision 13. <br /> 7.4. Warranties. The current Owner represents and warrants as follows: <br /> a. The current Owner is the sole owner of the Protected Property in fee simple and <br /> has the right and ability to convey this Easement to the Land Trust. <br /> b. The Protected Property is free and clear of all rights, restrictions and <br /> encumbrances other than those subordinated to this Easement or otherwise <br /> specifically agreed to by the Land Trust. <br /> c. The Protected Property is not subject to any pending claim, legal proceeding, <br /> foreclosure or other legal action affecting title to the Protected Property or the <br /> validity or enforceability of this Easement. <br /> 16 <br />