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7.7. Binding Effect. This Easement creates a property right immediately vested in the <br /> Land Trust and its successors and assigns that cannot be terminated or extinguished <br /> except as set out herein. <br /> This Easement shall run with and burden the Protected Property in perpetuity. The <br /> terms of this Easement are binding and enforceable against the current Owner of the <br /> Protected Property, all successors in title to the Protected Property and all other <br /> parties entitled to possess or use the Protected Property. <br /> If at any time the Land Trust or other holder of this Easement becomes the owner of <br /> all or a portion of the fee interest in the Protected Property, this Easement shall not be <br /> deemed to merge with the underlying fee interest but shall remain in force and effect <br /> unless otherwise terminated or extinguished as set out herein. <br /> 7.8. Definitions. Unless the context requires otherwise, the following terms are defined as <br /> follows: <br /> a. "Owner" includes,jointly and severally, the current owner or owners of the <br /> Protected Property identified above and their personal representatives, heirs, <br /> successors and assigns in title to the Protected Property. <br /> b. "Land Trust" includes the Minnesota Land Trust and its successors or assigns to <br /> its interest in this Easement. <br /> c. "Easement" includes both this instrument of conveyance and the property interest <br /> conveyed from the Owner to the Land Trust. <br /> Other terms may be defined throughout this Easement. <br /> 7.9. Termination of Rights and Obligations. A party's rights and obligations under this <br /> Easement terminate upon the transfer or termination of that party's interest in this <br /> Easement or the Protected Property, provided, however, that any liability for acts or <br /> omissions occurring prior to the transfer or termination will survive that transfer or <br /> termination. <br /> 7.10. Recording. The Land Trust will record this Easement in a timely manner in the <br /> official records for the county in which the Protected Property is located. The Land <br /> Trust may re-record this Easement or any other documents necessary to protect its <br /> rights under this Easement or to assure the perpetual enforceability of this Easement. <br /> 7.11. Interpretation. This Easement shall be interpreted as follows: <br /> a. Controlling Law and Construction. This Easement shall be governed by the laws <br /> of the State of Minnesota and construed to resolve any ambiguities or questions of <br /> validity of specific provisions in favor of giving maximum effect to its <br /> conservation purpose and to the policies and purposes of Minnesota Statutes <br /> 19 <br />