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<br />200609534 <br /> <br />7. This license shall be deemed a covenant running with the Thorn Property and the <br />Mallard Haven Property and shall be binding upon and inure to the benefit of <br />Thoms, Mallard Haven, their heirs, personal representatives, successors and <br />assigns. <br /> <br />8. Right of First Refusal. Mallard Haven hereby grants to Thoms, or the survivor of <br />them, the right of first refusal to purchase the Mallard Haven Property, under and <br />pursuant to the following terms and conditions: <br /> <br />A. In the event Mallard Haven obtains an offer to purchase the Mallard <br />Haven Property from a bona fide, ready, willing and able person, Mallard <br />Haven shall first give Thoms the right and opportunity to purchase the <br />Mallard Haven Property under and pursuant to the same terms and <br />conditions as are contained in such purchase offer. <br /> <br />B. Mallard Haven shall give Thoms written notice of the existence of such <br />bona fide offer and Mallard Haven' s intent to accept same, together with a <br />true, complete and correct copy of such offer. <br /> <br />C. Thoms shall have seven (7) days from their actual receipt of the notice to <br />purchase the Mallard Haven Property for the same price and under the <br />same terms and conditions as are contained in such bona fide offer. If <br />Thoms fail to exercise their right of first refusal within such seven (7) day <br />period, Mallard Haven may thereafter accept and close the sale of the <br />Mallard Haven Property under the same terms and conditions as contained <br />in the bona fide offer. Each subsequent purchaser shall own the Mallard <br />Haven Property subject to this right of first refusal. <br /> <br />D. In the event such sale fails to close, any subsequent offer to purchase the <br />Mallard Haven Property shall be subject to this right of first refusal. <br /> <br />This right of first refusal is personal to the Thoms, and the suvivor of <br />them, so long as Thoms own the Thorn Property. This right of first refusal <br />shall be binding upon Mallard Haven, its successors and assigns. <br /> <br />DATED:~r }7;1,2006. <br /> <br /> <br />,Jj~,: - - (/ ?~~--_.~:;~~~ <br />_ ~~ I"t , "'l-a" ~ <br />DAVID W. THOM <br /> <br />E. <br /> <br />PLA TIE RIVER MALLARD HA VEN, INC., A <br />N SKA CORPORATION <br /> <br />filii <br />-m <br />"- tl/J"'--= <br />IANI . THOM <br /> <br />~ <br /> <br /> <br />B <br /> <br />Page 5 of6 <br />