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20041058 c. Land Use Restrictions The Grantor has undertaken careful environmental study of the Property and concluded, to which the Grantee agrees, that the highest and best use of the Property is limited by its environmental condition to industrial /agricultural/commercial land uses. In order to protect human health and the environment, promote community objectives, and further the common environmental objectives and land use plans of the Grantor, State of Nebraska, and Hall County Board of Supervisors, the following covenant/ restrictions /reservations are included in this deed to assure the use of the Property is consistent with environmental condition of the Property. The following covenant/restrictions / reservations benefit both the lands retained by the Grantor and the general public welfare and are consistent with the State of Nebraska and Federal environmental statutes. 1. Industrial /Agricultural/Commercial Use Restrictions (a) The Grantee covenants for itself, its successors and assigns, that the Property shall be used solely for industrial, agricultural or commercial purposes and not for residential purposes, the Property having been remediated only for industrial, agricultural and commercial uses. Industrial, agricultural and commercial uses include, but are not limited to, administrative /office space, manufacturing, warehousing, restaurants, hotels /motels, and retail activities. Residential use includes, but is not limited to, housing, day care facilities, and schools (excluding education and training programs for persons over 18 years of age), and assisted living facilities. (b) Nothing contained herein shall preclude the Grantee from undertaking, in accordance with applicable laws and regulations, such additional remediation necessary to allow for residential use of the Property. Any additional remediation will be at no additional cost to the Grantor and with the Grantor's prior written consent. Consent may be conditioned upon such terms and conditions, as the Grantor deems reasonable and appropriate, including performance and payment bonds and insurance. Upon completion of such remediation required to allow residential use of the Property and upon the Grantee's obtaining the approval of the Army Corps of Engineers, the Enviromnental Protection Agency (EPA) and the Nebraska Department of Environmental Quality and, if required, any other regulatory agency, the Grantor agrees to release or, if appropriate, modify this restriction by executing and recording, in the same land records of Nebraska, Hall County, as this deed, a Partial Release of Covenant. Grantee shall bear the cost of recording and reasonable administrative fees. 2. Enforcement (a) The above covenant /restrictions /reservations shall inure to the benefit of the public in general and adjacent lands, including lands retained by the United States, and, therefore, are enforceable by the United States Government and State of Nebraska. These covenant /restrictions /reservations are binding on the Grantee, its successors and assigns; shall run with the land; and are forever enforceable. Co I