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0 <br />0 <br />01 <br />0 <br />N <br />BUILD TO SUITE LEASE: <br />m <br />m <br />C <br />z <br />2 <br />DECLARATION OF RESTRICTIVE COVENANT <br />C <br />N <br />IN) <br />THIS DECLARATION OF RESTRICTIVE COVENANT (this "Declaration ") is <br />executed on the dates designated hereinafter, by and between JoEl Investment Group, LLC <br />( "Landlord ") and Southern Hospitality Ventures, Inc. ( "Tenant "). <br />In consideration of the Build to Suit Lease (the "Lease ") entered into by and between <br />Landlord and Tenant with an Effective Date of June 23, 2015, relating to the property described <br />on ExhibitA attached hereto and made a part hereof (the "Property"), Landlord agrees to impose <br />the following restrictive covenants (the "Covenants ") on the Restricted Property (as defined <br />below): <br />Landlord acknowledges and agrees that no property presently or hereafter owned, leased <br />or controlled with a fifty -one (51 %) percent or more ownership interest by Landlord within a one <br />(1) mile radius of the Property (the "Restricted Property ", which Restricted Property is described <br />on Exhibit B attached hereto and made a part hereof) shall be sold, leased, managed, used or <br />occupied for a restaurant or food service establishment which prepares, serves or sells de -boned <br />chicken products, such as Chick- Fil -A, Abner's, Guthrie's, Zaxby's, PDQ, Buffalo Wild Wings <br />or any other restaurant or food chain which specializes in the sale of de -boned chicken products <br />(a "Competing Use "). However, the Restricted Property may be used as or sold or leased for use <br />as a restaurant or food service establishment which prepares, serves or sells de -boned chicken <br />products, so long as such sales are incidental to the sale of its other products. As used herein, the <br />term "incidental" shall mean that any such owner, tenant or occupant shall not derive more than <br />thirty (30 %) per cent of its annual gross sales from the sale of de -boned chicken products. <br />Notwithstanding anything to the contrary set forth in this Declaration, it shall not be a breach of <br />this Declaration if Landlord subsequently acquires, leases, manages or controls real property <br />within a one (1) mile radius of the Property that is then used for a Competing Use, which real <br />property shall be expressly excluded from the restrictions set forth herein, but only for the <br />duration of the use of such real property by the party utilizing same for the Competing Use at the <br />time of Landlord's acquisition. <br />This Declaration may be executed in any number of counterparts, each of which when so <br />executed and delivered shall be deemed original, but such counterparts together shall constitute <br />but one and the same instrument. <br />After tiling, return to: <br />Tin O'Neill <br />":'Pie ll. Heinrich, Damkroger, Bergmeyer & Shultz, P.C., L.L.O. <br />P Box 82028 <br />Lincoln. NE 68501 -2028 <br />fTi <br />ro- <br />C.rl <br />CO <br />CD <br />01 L: <br />CI) M <br />(\) —' <br />0 <br />