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After recording, return to: Grand Island Abstract, Escrow & Title Co. 704 W. 3r Street Grand Island, NE 68801 Attn: Mamie Schager Sundenneier RE: Lot 9, Meadowlark West Fourth Subdivision PRELIMINARY STATEMENT DEVELOPER REPURCHASE AGREEMENT This Developer Repurchase Agreement (the "Agreement ") is made and entered into this day of January, 2015, by and between PAUL J. YOUNES, having a mailing address c/o Joseph G. Sobotka, Sobotka, Roper, Schumacher & Co., 216 West 38 Street, Kearney, Nebraska 68848 (the "Owner "), and ALLEN PHASE III LLC, a Nebraska limited liability company, having a mailing address of P.O. Box 987, 1115 West r Street, Hastings, Nebraska 68902 -0987 (the "Developer "). Contemporaneously with the execution of this Agreement, Owner has acquired from Developer Lot 9, Meadowlark West Fourth Subdivision, Grand Island, Hall County, Nebraska, as surveyed, platted and recorded (the "Property") pursuant to the terms and conditions set forth in the Real Property Sale Agreement dated October 2, 2014, between the Parties (the "Purchase Agreement"), which acquisition is evidenced by the recordation of a Special Warranty Deed (the "Deed ") from Developer to Owner, which was filed of record prior to the recording of this Agreement. Owner has agreed to grant to Developer an option to repurchase the Property and all improvements and appurtenances thereon, exclusive of movable equipment and fixtures, inventory, signs and other personal property upon certain conditions.