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This Restrictive Covenant ( "Covenant ") is made this -3 ° day of September,
<br />2003, by Thomas E. Babel ( "Babel ") and Stewart 8v Bangs, L.L.C., a Nebraska
<br />limited liability company ( "Stewart 8v Bangs ").
<br />RECITALS
<br />WHEREAS, Stewart 8v Bangs has purchased the following real property from
<br />Babel: Lot (15), Block Twenty -One (21), Original Town, Village of Wood River, Hall
<br />County, Nebraska (the "Property");
<br />WHEREAS, Babel intends to operate a crop insurance agency in the Wood
<br />River area; and
<br />WHEREAS, in consideration of the conveyance of the Property to Stewart 8v
<br />Bangs, Stewart &, Bangs has agreed to execute restrictive covenants, burdening
<br />the Property, as set forth herein.
<br />NOW THEREFORE, in consideration of the mutual promises described
<br />herein and other valuable consideration, the receipt and sufficiency of which is
<br />hereby acknowledged, Babel and Stewart & Bangs agree as follows:
<br />1. Restrictions. Stewart 8v Bangs, for itself, its successors and assigns,
<br />hereby covenants and agrees with Babel, his successors and assigns, that Stewart
<br />8s Bangs shall not operate any part of the Property, or permit any part of the
<br />Property to be operated, as a crop insurance business or agency. Stewart 8a
<br />Bangs further covenants and agrees that Stewart 8s Bangs shall not permit the
<br />advertising by or for a crop insurance business or agency or the solicitation of
<br />crop insurance sales or business on the Property. The provisions of this
<br />paragraph shall not apply to any activities undertaken by or at the direction of
<br />Babel.
<br />2. Term. The restriction in Paragraph 1 shall last for a period of five (5)
<br />years, beginning October 1, 2003, and expiring September 30, 2008.
<br />3. Binding Effect. The burden and benefits of this Covenant shall run
<br />with and touch and concern the land, and shall bind and benefit the parties
<br />hereto and their respective successors and assigns.
<br />4. Enforceability, This Covenant shall be enforceable by the Babel, his
<br />successors and assigns. In the event that Stewart & Bangs or a successor or
<br />assign violates or attempts to violate the terms and conditions of this Covenant,
<br />Babel, his successors and assigns may bring equitable action in specific
<br />performance, the parties being in agreement that no adequate remedy at law
<br />exists.
<br />L0568656.2
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<br />RESTRICTIVE COVENANT
<br />0
<br />This Restrictive Covenant ( "Covenant ") is made this -3 ° day of September,
<br />2003, by Thomas E. Babel ( "Babel ") and Stewart 8v Bangs, L.L.C., a Nebraska
<br />limited liability company ( "Stewart 8v Bangs ").
<br />RECITALS
<br />WHEREAS, Stewart 8v Bangs has purchased the following real property from
<br />Babel: Lot (15), Block Twenty -One (21), Original Town, Village of Wood River, Hall
<br />County, Nebraska (the "Property");
<br />WHEREAS, Babel intends to operate a crop insurance agency in the Wood
<br />River area; and
<br />WHEREAS, in consideration of the conveyance of the Property to Stewart 8v
<br />Bangs, Stewart &, Bangs has agreed to execute restrictive covenants, burdening
<br />the Property, as set forth herein.
<br />NOW THEREFORE, in consideration of the mutual promises described
<br />herein and other valuable consideration, the receipt and sufficiency of which is
<br />hereby acknowledged, Babel and Stewart & Bangs agree as follows:
<br />1. Restrictions. Stewart 8v Bangs, for itself, its successors and assigns,
<br />hereby covenants and agrees with Babel, his successors and assigns, that Stewart
<br />8s Bangs shall not operate any part of the Property, or permit any part of the
<br />Property to be operated, as a crop insurance business or agency. Stewart 8a
<br />Bangs further covenants and agrees that Stewart 8s Bangs shall not permit the
<br />advertising by or for a crop insurance business or agency or the solicitation of
<br />crop insurance sales or business on the Property. The provisions of this
<br />paragraph shall not apply to any activities undertaken by or at the direction of
<br />Babel.
<br />2. Term. The restriction in Paragraph 1 shall last for a period of five (5)
<br />years, beginning October 1, 2003, and expiring September 30, 2008.
<br />3. Binding Effect. The burden and benefits of this Covenant shall run
<br />with and touch and concern the land, and shall bind and benefit the parties
<br />hereto and their respective successors and assigns.
<br />4. Enforceability, This Covenant shall be enforceable by the Babel, his
<br />successors and assigns. In the event that Stewart & Bangs or a successor or
<br />assign violates or attempts to violate the terms and conditions of this Covenant,
<br />Babel, his successors and assigns may bring equitable action in specific
<br />performance, the parties being in agreement that no adequate remedy at law
<br />exists.
<br />L0568656.2
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