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200610447 L RESTRICTIONS. 1.1 Intent as to Restrictions. The Property is conveyed and this conveyance is accepted subject to and upon the express terms, covenants, conditions and restrictions contained in Articles 1, 2 and 3 of this Deed (collectively, the "Restrictions"), which Restrictions are made for the benefit of Grantor, its successors and assigns, and for the benefit of the Property and the lands surrounding the Property which are now or hereafter owned by Grantor, its affiliates and its successors and assigns ("Grantor's Parcel"), and which Restrictions impose a burden on the Property. Recordation of this Deed shall constitute the agreement by Grantee, for itself and its successors and assigns, to be bound by and to comply with the following covenants, conditions and restrictions. In the event that Grantor reacquires title to the Property or any portion thereof at any time, the Restrictions shall be null and void and of no further force or effect as to the portion of the Property acquired by Grantor from and after the date the title to any such Property vests in Grantor. Whenever reference is made to Grantor in the Restrictions, the reference shall be deemed 'to include affiliates, successors and assigns of Grantor. However, with respect to the Restrictions, a person or party shall be deemed a "successor and assign" of Grantor only if specitically designated in a duly recorded instrument as a successor or assign of Grantor under this Deed and shall be deemed a successor and assign of Grantor only as to the particular rights or interests of Grantor which are specifically designated in the written instrument; provided, however, that a successor to Grantor by consolidation or merger shall automatically be deemed a successor or assign of Grantor for purposes of the Restrictions. 1.2 Use of Property. Grantee acknowledges that Grantor is selling the Property in accordance with the overall plan for the development of Grantor's Parcel, and is selling the Property to Grantee primarily in reliance on Grantee's agreement to construct on the Property a building containing approximately 3,000 square feet, to be used initially as a retail store selling cellular phones and wireless telecommunications equipment, including without limitation, construction of a parking lot containing no less than five (5) parking spaces per one thousand (1,000) square feet of building area to be constructed on the Property. Grantee shall not construct or install any monument signage on the Property, nor shall Grantee have any right to use any monument signage located on the Property. Furthermore, Grantee shall not use the Property for any of the uses set forth on Exhibit C ("Prohibited Uses") as long as the exclusive use rights of the entities identified on Exhibit C continue. Notwithstanding the foregoing, in the event sign ordinances are hereafter adopted by the City of Grand Island, Nebraska ("City") which permit larger monument signs for the Shopping Center (as defined on Exhibit C), Grantee, at Grantee's sole cost and expense, may pursue obtaining approval from the City of larger monument signs for the Shopping Center and, if such approval is obtained, Grantor shall attempt to obtain the approval of the Approving Parties, as defined in the Operation and Easement Agreement, identitied as Permitted Exception No. 12 on Exhibit B ("OEA"), to a new monument sign which would be enlarged to include an additional identification panel, and if approved by the Approving Parties, Grantee would be entitled to make the required modifications to increase the size of the monument signs, so as to add an additional can and use the lowest identification panel on such monument sign, which panel shall {31858.1811/17/2006 \0: \4 AMJEPE.A0227626.DOC;2} 2