Resolution 2001-54 - Laserfiche WebLink

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Boulder County Clerk, CO ACE R without notice to the Board and merger is deemed to have occurred by operation of law, this action will constitute a breach of the terms and conditions of the grant agreement entered into with the Board on and the City and/or County must reimburse the Board for that portion of the grant applicable to the purchase of the Property unless a conservation easement approved by the Board is recorded on the Property. · 14. Extinguishment. If circumstances arise in the future such as render the purpose of this Easement impossible to accomplish, this Easement can only be terminated or extinguished, whether in whole or in part, by judicial proceedings in a court of competent jurisdiction. Each party shall promptly notify the other when it first learns of such circumstances, and shall, in addition, notify the State Board of the Great Outdoors Colorado Trust Fund (the "Board") of such circumstances. The amount of the proceeds to which Grantee shall be entitled, after the satisfaction of prior claims, from any sale, exchange, or involuntary conversion of all or any portion of the Property subsequent to such termination or extinguishment, shall be determined, unless otherwise provided by Colorado law at the time, in accordance with paragraph 7 above. In the event of condemnation or termination, the Board shall be entitled to receive 11% of net proceeds. 2224741 Page: 6 of 16 11/29/2001 01:31P D 0.00 15. Assignment. This Easement is transferable, but Grantee may assign its rights and obligations under this Easement only to an organization that is (a) a qualified organization at the time of transfer under Section 170(h) of the Internal Revenue Code of 1986, as amended (or any successor provision then applicable), and the applicable regulations promulgated thereunder, (b) authorized to acquire and hold conservation easements under Colorado law, and (c) approved as a transferee by the State Board of the Great Outdoors Colorado Trust Fund. As a condition of such transfer, Grantee shall require that the conservation purposes that this Easement is intended to advance continue to be carried out. The Board shall have the right to require Grantee to assign its rights and obligations under this Easement to a different organization if Grantee ceases to exist or for any reason fails or refuses to enforce the terms and provisions of this Easement. B. The initial paragraph of Section II of the Conservation Easement is amended to read as follows: II. Permitted Uses and Practices. Grantor intends that this Easement shall confine the future use of the Property to scenic, open space, agricultural, passive recreational and environmental uses and the other related or compatible uses which are described herein, and to permit structures related to trail amenities, maintenance of water resources, and fencing. The following uses and practices are permitted under this Easement, and these practices are not to be precluded, prevented, or limited by this Easement: