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f � � 896bmscgl3.doc #896-SEC 13'"Street&Hwy.281 04/21/99 3:02 PM 9 9 10 6 3 7 5 Grand Island,NE MEMORANDUM OF SHOPPING CENTER GROUND LEASE THIS MEMORANDUM OF SHOPPING CENTER GROUND LEASE is entered into as of the 11`h day of March, 1999, between Robert M. Allen Family Limited Partnership ("Landlord"), and Albertson's, Inc., a Delaware corporation ("Tenant"). 1. Premises: Landlord and Tenant have heretofore entered into a Shopping Center Ground Lease dated as of March 11, 1999 (hereinafter called "Ground Lease"), whereby Landlord has leased and Tenant has hired, and Landlord does hereby lease and Tenant does hereby hire, those certain premises in the City of Grand Island, County of Hall, State of Nebraska, described as Parcel2 in the Ground Lease and more particularly described in Schedule I hereto and shown on Exhibit "A" hereto ("Leased Premises"), which Leased Premises are a part of the Shopping Center described in said Ground Lease and more particularly described in Schedule I attached hereto. All words for which a definition is set forth in the Ground Lease shall have the same meaning herein as they do in the Ground Lease. The Shopping Center is comprised of Parcels 1 through 5 and Parcels 14 through 29 shown on Exhibit "A." As used in the Ground Lease and the Operating Documents, Phases 1, 2, and 3 are specifically defined and include the respective areas labeled as such on Exhibit "A." Phase 3 is not a part of the Shopping Center as defined in the Ground Lease, Declaration, CAMA, and Development Agreement, but Phase 3 is encumbered by certain restrictions set forth in the Covenant Against Certain Uses. 2. Term: The term of the Ground Lease is for an interim term commencing on the date of the Ground Lease and terminating on the date the primary term commences; and for a primary term commencing on the Rent Commencement Date and terminating on the twenty-fifth (25th) anniversary of the later of(a) the date Tenant opens for business to the public on the Leased Premises, or (b) the 18-month anniversary of the date of this Ground Lease. As defined in the Ground Lease, the "Rent Commencement Date" is the date of the last to occur of the following: (i) all Conditions Subsequent set forth in Article 7 of the Ground Lease have been satisfied or Tenant has waived the same; (ii) Landlord and Tenant have executed and recorded this Memorandum of Shopping Center Ground Lease; (iii) Landlord has completed and provided Tenant written notice of completion of the Phase 1 Site Work as described in the Development Agreement attached to the Ground Lease as Exhibit "B;" and (iv) Landlord has delivered to Tenant possession of the Leased Premises in accordance with the Ground Lease. 3. Option for Renewal: Tenant, at Tenant's option, in accordance with the terms of the Ground Lease, may extend the term of the Ground Lease for eight (8) consecutive periods of five (5) years each on the same terms and conditions, except length of term and rent, as the primary term of the Ground Lease.