Common use of Extinguishment and Condemnation Clause in Contracts

Extinguishment and Condemnation. This Agricultural Land Easement vests a right of enforcement in the United States and additional real property interests in the Grantee. These rights may only be extinguished with the necessary approval of the Grantee and the United States, as specified in this Agricultural Land Easement. Due to the Federal interest in this Agricultural Land Easement, the United States must consent to any condemnation action affecting the [Insert Defined Term for Parcel]. If any entity with condemnation authority (condemning agency) proposes to condemn the [Insert Defined Term for Parcel], NRCS must be notified immediately by the condemning agency and grantee, and the consent of the United States must be received by the condemning agency before any condemnation action may proceed with respect to the federal interest in this Agricultural Land Easement. (a) to the Grantee or its designee, percent ( %) of the Proportionate Share; and (b) to the United States percent ( %) of the Proportionate Share, representing the proportion each party contributed to the purchase price of this Agricultural Land Easement. The Proportionate Share of the Grantee also includes percent ( %) of the appraised value of this Agricultural Land Easement, donated by the Grantor to the Grantee, if any. Until such time as the Grantee and the United States receive the Proportionate Share from the Grantor or the Grantor’s successor or assign, the Grantee and the United States each have a lien against the Property for the amount of the Proportionate Share due each of them. The Grantee or its designee must use its allocation of the Proportionate Share in a manner consistent with the conservation purposes of the Agricultural Land Easement. If proceeds from termination, extinguishment, or condemnation are paid directly to Grantee, the Grantee must reimburse the United States for the amount of the Proportionate Share due to the United States.