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the Property, in an amount determined by the parties to be <br />sufficient. Said insurance shall name [the Boulder County Board <br />of Commissioners/the City of Louisville] as an additional <br />insured. <br /> <br /> 5.2 The terms of this Conservation Easement shall be <br />binding upon Grantor and its successors in interest, lessees, and <br />assigns, and shall continue as a servitude running in perpetuity <br />with the Property. The terms "Grantor" and "Grantee", whenever <br />used herein, and any pronouns used in place thereof, shall mean <br />and include the above-named Granter and Granter's successors and <br />assigns and the above named-Grantee and its successors and <br />assigns, respectively. <br /> <br /> 5.3 The Grantor owns an undivided one-half interest in the <br />Property. The Grantor is granting a conservation easement only <br />as to the undivided one-half interest it owns in the Property. <br />The Grantee is also the owner of an undivided one-half interest <br />in the Property. The Grantee accepts the conservation easement <br />only as to the undivided interest in the Property owned by the <br />Grantor. The ownership of the Grantor~s and Grantee's estates <br />are not coextensive, and the parties expressly intend that the <br />conservation easement granted herein shall not merge with the <br />underlying fee interest. Additionally, by execution of this <br />Conservation Easement in Gross, and as a material part of this <br />Agreement, Grantor and Grantee relinquish their rights <br />individually and collectively to seek judicial partition of the <br />individual interests in this Conservation Easement in Gross and <br />in each party's respective undivided fee simple interest in the <br />Property. <br /> <br /> 5.4 If any provision of this Easement or the application <br />thereof to any person or circumstance is found to be invalid, the <br />remainder of the provisions of this Deed of Conservation Easement <br />in Gross and the application of such provisions to persons or <br />circumstances other than those as to which it is found to be <br />invalid, shall not be affected thereby. <br /> <br /> 5.5 The Grantor agrees that reference to this Easement <br />will be made in any subsequent deed, or other legal instrument, <br />by means of which Grantor conveys any interest in the Property <br />(including a leasehold interest) and that Grantor will attach a <br />copy of this Deed of Conservation Easement in Gross thereto. <br /> <br /> 5.6 This instrument and the attached Exhibit contain the <br />entire agreement between the parties relating to the Conservation <br />Easement on the Property and may be modified only by an <br />instrument in writing executed by all parties. <br /> <br />Bowes Exchange Agreement 13 <br /> <br /> <br />