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201607569
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Last modified
7/3/2017 5:40:46 PM
Creation date
11/14/2016 10:57:14 AM
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DEEDS
Inst Number
201607569
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Exclusive Use "). Tenant's Exclusive Use will not apply to (1) the incidental sale of any of the <br />identified merchandise by an occupant or tenant so long as the retail display space in such occupant <br />or tenant's premises that is used for the display of such merchandise (including shelf space and <br />allocable aisle space) is of a size not greater than the lesser of 500 square feet of gross leasable area <br />or 10% of such occupant or tenant's total gross leasable area, or (2) the existing tenants in <br />Landlord's Parcel set forth on Exhibit "I" of the Lease and such tenants' subtenants, successors and <br />assigns and any renewal or assignment of said lease or the premises occupied by such parties; <br />provided, however, that this exception will not apply if: Landlord permits or agrees to the change <br />of a permitted use by any such tenant or its successors or assigns to a use that violates Tenant's <br />Exclusive Use if Landlord has the right, by virtue of the provisions of the existing lease, to withhold <br />such permission or agreement, or Landlord permits or agrees to an assignment or sublease of such <br />existing lease to an assignee or subtenant who proposes to use the premises for a use that violates <br />Tenant's Exclusive Use if Landlord has the right, by virtue of the provisions of the existing lease, <br />to withhold such permission or agreement. Neither Landlord nor an affiliate of Landlord will lease <br />or sell any property contiguous to (or separated solely by a road or right from) the Landlord's Parcel <br />which is acquired after the Effective Date of the Lease by Landlord or an affiliate of Landlord for <br />use as a full -line grocery store. For the purposes of this 18(e)(ii), an affiliate of Landlord is an <br />entity which owns, is owned by, or is under common control with Landlord. In the event of a <br />breach of this Section, Tenant will have the remedies set forth in Section 18(0 of the Lease. <br />7. Inquiries. Inquiries concerning the precise terms of the Lease may be made to: <br />Landlord's Notice Address: <br />Tenant's Notice Address: <br />KM Grand Island Joint Venture, LLC <br />Attention: Michael H. Staenberg <br />2127 Innerbelt Business Center Drive, Suite 310 <br />St. Louis, MO 63114 <br />Lakes Venture, LLC <br />2650 Warrenville Road, Suite 700 <br />Downers Grove, Illinois 60515 <br />Attention: Property Administrator (Store No. 906G1N) <br />8. Lease Controls. This Memorandum is for informational purposes only and nothing <br />contained herein shall be deemed to in any way modify or otherwise affect any of the terms and <br />conditions of the Lease, the terms of which are incorporated herein by reference. Any capitalized <br />terms not otherwise defined herein shall have the meaning ascribed to them in the Lease. In the <br />event of any inconsistency between the terms of the Lease and this instrument, the terms of the <br />Lease shall prevail. <br />9. Successors and Assigns. The rights and obligations set forth herein shall be binding <br />upon and inure to the benefit of the parties hereto and their respective heirs, personal <br />representatives, successors and assigns. <br />3 <br />201607569 <br />
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