Sale or lease of acquired property subject to restrictions — reversion clause

The department, using moneys from this fund, may acquire or, in the case of property on which moneys from this fund have been expended, dispose of the fee or lesser interest to any historic property, including adjacent and associated lands, for the specific purpose of conveying or leasing the property back to its original owner or to any such other person, firm, association, corporation or other organization under such covenants, deed restrictions, lease or other contractual arrangements as will limit the future use of the property in such a way as to insure its preservation. In all cases where property on which money from this fund has been expended is conveyed or leased, it shall be subjected by covenant, or otherwise, to such rights of access, public visitation and other conditions as may be agreed upon between the department and the grantee or lessee to accomplish the purpose of this section. Any conveyance or lease shall contain a reversion clause providing that, in the event the historic property is not operated, maintained, restored and repaired in accordance with the provisions of this section or in such a way as to insure its preservation, title and control of such property shall immediately revert to and vest in the governor.