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• <br />After recording, return to: <br />Grand Island Abstract, Escrow & Title Co. <br />704 W. 3r Street <br />Grand Island, NE 68801 <br />Attu: Mamie Schager Sundenneier <br />rn <br />`1 <br />Z <br />t Ki <br />X <br />DEVELOPMENT AGREEMENT <br />n This Development Agreement ( "Agreement ") dated August /9 , 2015, is between <br />ALLEN WEBB ROAD LLC, a Nebraska limited liability company ( "Developer "), and L & P <br />INVESTMENTS, L.L.C., a Nebraska limited liability company ( "Owner "). <br />PRELIMINARY STATEMENT <br />Contemporaneously with the execution of this Agreement, Owner acquired from <br />Developer ownership of Lot 12, Meadowlark West Fourth Subdivision, Hall County, Nebraska <br />(the "Property "). As a condition precedent to such acquisition, Owner and Developer agreed to <br />execute and exchange this Agreement to evidence their agreement and understanding with <br />respect to the development and use of the Property. <br />TERMS AND CONDITIONS <br />c:) <br />In consideration of the foregoing Preliminary Statement, which is repeated in its entirety <br />in this portion of this Agreement, and other valuable consideration, the receipt of which is <br />acknowledged, Developer and Owner agree as follows: <br />1. Declaration of Restrictions and Grant of Easements. The Property and any <br />development and use of the Property are subject to the terms and provisions of a certain <br />Declaration of Restrictions and Grant of Easements dated March 11, 1999 (the "1999 <br />Declaration "). The 1999 Declaration was recorded on June 24, 1999 as Instrument No. <br />99- 106376 in the Official Records of Hall County, Nebraska. The 1999 Declaration was <br />amended by a certain First Amendment to Declaration of Restrictions and Grant of Easements <br />dated August 21, 2000 (the "First Amendment "). The First Amendment was recorded on <br />September 25, 2000 as Instrument No. 200007944. The 1999 Declaration was further amended <br />