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<br /> Xl ~t~(' <br /> P m <br /> ~ <br /> C m tn <br /> - Z ():J: ~ <br /> . () '" ~ o~ g-a <br /> n 1.:1 ~ ,0 <br /> G; ,]: c..ro 0#" ' <br />N In )> ~ ~ c::,~ . N ED <br />CSl () en Z z: .....- <br />lSl I '" :c ~$ = -1m a <br /><J1 c=: -<0 0 <br />-'" l-' 0'" 0 ar <br />...... -.J ""z <br />~ \J\ -., en <br />...... t\ In'1 - <br /> 0 0 ::$ <br />lSl rn ~ .CD l-' <br /> rn t ::3 ""';0 I <br /> 0 r> ....... <br /> Cf> (/) J::: <br /> ~ ;::00;; <br /> > ....... <br /> N' -- <br /> -.] Ul 0 <br /> Q:) 2 <br /> 0 <br /> DEVELOPMENT AGREEMENT <br /> <br />This Development Agreement ("Agreement") dated November 15th, 2005, is between <br />ALLEN WEBB ROAD LLC, a Nebraska limited liability company ("Developer"), and JLF, <br />L.L.c., a Nebraska limited liability company ("Owner"). <br /> <br />,V'", <br />~ <br />'0. <br /> <br />PRELIMINARY STATEMENT <br /> <br />~ <br />\..: ~, <br /> <br />Contemporaneously with the execution of this Agreement, Owner acquired from <br />Developer ownership of Lot 10, Meadowlark West Fourth Subdivision, Hall County, Nebraska <br />(the "Property"). The Property is situated within Eagle Run Shopping Center bounded on the <br />north by 13th Street, the west by U.S. Highway 281, the east by Webb Road, and the south by <br />Faidley Road ("Eagle Run"). As a condition precedent to such acquisition, Owner and <br />Developer agreed to execute and exchange this Agreement to evidence their agreement and <br />understanding with respect to the development and use of the Property. <br /> <br />TERMS AND CONDITIONS <br /> <br />In consideration of the foregoing Preliminary Statement, which is repeated in its <br />entirety in this portion of this Agreement, and other valuable consideration, the receipt of <br />which is acknowledged, Developer and Owner agree as follows: <br /> <br />1. Declaration of Restrictions and Grant of Easements. The Property and any <br />development and use of the Property is subject to the terms and provisions of a certain <br />Declaration of Restrictions and Grant of Easements dated March 11, 1999 (the "1999 <br />Declaration"). The 1999 Declaration was recorded on June 24, 1999 as Instrument No. <br />99-106376 in the Official Records of Hall County, Nebraska. The 1999 Declaration was <br />amended by a certain First Amendment to Declaration of Restrictions and Grant of Easements <br />dated August 21, 2000 (the "First Amendment"). The First Amendment was recorded on <br />September 25, 2000 as Instrument No. 200007944. The 1999 Declaration was further <br />amended by a certain Second Amendment to Declaration of Restrictions and Grant of <br />Easements dated July 24, 2002 (the "Second Amendment") The Second Amendment was <br />recorded July 25, 2002 as Instrument No. 200207725. The 1999 Declaration, the First <br />Amendment and Second Amendment are hereinafter collectively referred to as the <br />"Declaration". From and after the date of Owner's acquisition of the Property, Owner and its <br />