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201706687 WHEREAS, Declarant is the owner of a parcel of land (the "Land ") located in City of Grand Island, Hall County, State of Nebraska, as more particularly described in Exhibit A attached hereto and depicted on Exhibit B attached hereto (the "Site Plan "); and WHEREAS, Declarant desires to create certain easements, covenants, conditions and restrictions encumbering the Land and binding on and inuring to the benefit of Declarant, Declarant's Tenants and their respective successors and assigns; and NOW, THEREFORE, Declarant hereby declares, agrees, covenants and consents that the Land and all parts thereof shall be held, sold and conveyed subject to the following easements, restrictions, covenants and conditions which are for the purpose of protecting the value and desirability of, and which shall run with the Land and all parts thereof, and be binding on all parties having any right, title or interest in the Land or any part thereof, their heirs, successors and assigns and shall inure to the benefit of each party having any right, title and interest therein which is hereby acknowledged as good and valuable consideration, the Declarant agrees as follows: ARTICLE I APPLICATION OF EXISITNG AGREEMENTS Declarant acknowledges and agrees that this Declaration is subject and subordinate to the provisions of all documents pertaining to the Land that are legally binding and enforceable as of the date of execution of this = Declaration, including, but not limited to, leases of those tenants of the Mall who are in good standing and in compliance with the terms of their leases as of the date of execution of this Declaration for so long as the documents are legally binding and enforceable and have not expired by their own terms (i.e. expiration of a lease term) or operation of law. ARTICLE II BASIC DEFINITIONS Section 2.1 "Common Area" shall mean the service drives, access road (if any), retention ponds, the entrances and exits of the Mall, and all other areas that may be provided for the general use in common of the tenants of the Mall and their officers, agents, employees, customers, and invitees for access to the Land. Section 2.2 "Conestoga Mall Parcel" shall mean that portion of the Land upon which that certain shopping mall building currently containing approximately 549,654 square feet and 2