Common use of Termination of Easement Clause in Contracts

Termination of Easement. If it determines that conditions on or surrounding the Property change so much that it becomes impracticable to fulfill its Conservation Purposes, a court with jurisdiction may, at the joint request of Grantee, Grantor, the Attorney General and the City, terminate the Easement created by this Deed. If condemnation of a part of the Property or of the entire Property by public authority renders it impossible to fulfill all of the Conservation Purposes, the Easement may be terminated through condemnation proceedings with notice from the public authority to Grantee, Grantor, the Attorney General, and the City. If the Easement is terminated and the Property is sold or taken for public use, then, as required by Internal Revenue Service regulations, the Grantee shall be entitled to number percent (##%) of the gross sale proceeds or condemnation award which is equal to the ratio of the appraised value of this Easement to the unrestricted fair market value of the Property, as this ratio is determined on the date of this Easement. The Grantee shall use the proceeds consistent with the Conservation Purposes of this Easement.

Termination of Easement. If it determines that conditions on or surrounding the Property change so much that it becomes impracticable to fulfill its Conservation Purposes, a court with jurisdiction may, at the joint request of GranteeXxxxxxx, Grantor, the Attorney General and the City, terminate the Easement created by this Deed. If condemnation of a part of the Property or of the entire Property by public authority renders it impossible to fulfill all of the Conservation Purposes, the Easement may be terminated through condemnation proceedings with notice from the public authority to GranteeXxxxxxx, Grantor, the Attorney General, and the City. If the Easement is terminated and the Property is sold or taken for public use, then, as required by Internal Revenue Service regulations, the Grantee shall be entitled to number percent (##%) of the gross sale proceeds or condemnation award which is equal to the ratio of the appraised value of this Easement to the unrestricted fair market value of the Property, as this ratio is determined on the date of this Easement. The Grantee shall use the proceeds consistent with the Conservation Purposes of this Easement.