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03 <br />After recording, retum to: <br />Grand Island Abstract, Escrow & Title Co. <br />704 W. 3 Street <br />Grand Island, NE 68801 <br />Attn: Marne Schager Sundenneier <br />RE: Lot 11, Meadowlark West Fourth Subdivision <br />PRELIMINARY STATEMENT <br />DEVELOPER REPURCHASE AGREEMENT <br />� This Developer Repurchase Agreement (the "Agreement ") is made and entered into this <br />ov G day of March, 2015, by and between RAILE INVESTMENTS, LLC, a Nebraska limited <br />liability company, having a mailing address of 901 West Second Street, Grand Island, Nebraska <br />68801 (the "Owner "), and ALLEN WEBB ROAD LLC, a Nebraska limited liability company, <br />having a mailing address of P.O. Box 987, 1115 West 2 Street, Hastings, Nebraska 68902 -0987 <br />(the "Developer "). <br />Contemporaneously with the execution of this Agreement, Owner has acquired from <br />Developer Lot 11, Meadowlark West Fourth Subdivision, Grand Island, Hall County, Nebraska, <br />as surveyed, platted and recorded (the "Property") pursuant to the terms and conditions set forth <br />in the Real Property Sale Agreement dated August 29, 2014, between the Parties, as amended by <br />a First Amendment to Real Property Sale Agreement dated October 16, 2014 (collectively the <br />"Purchase Agreement "), which acquisition is evidenced by the recordation of a Special Warranty <br />Deed (the "Deed ") from Developer to Owner, which was filed of record prior to the recording of <br />this Agreement. <br />Owner has agreed to grant to Developer an option to repurchase the Property and all <br />improvements and appurtenances thereon, exclusive of movable equipment and fixtures, <br />inventory, signs and other personal property upon certain conditions. <br />