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20061132<1 NOW THEREFORE, in consideration of the above premises and of the covenants herein contained, the Grantors and Grantee hereby declare, covenant and agree as follows: 1. DECLARATION. Each and every one of these rights, covenants and easements is for the benefit of the Grantee and each of the successor owners ofthe Ethanol Plant Property or any portion thereof and any lienholder under a mortgage or deed of trust recorded against the Ethanol Plant Property (such owner(s) of the Ethanol Plant Property and lienholders are hereinafter collectively referred to as the "Beneficiaries"). Each and every one of these rights, covenants and easements shall pass with the Leisinger Property, or any parcel, lot or site thereof, and shall bind each and every owner thereof or of any interest therein, including Grantors, and the respective assigns and successors in intercst of such owners and any lessees, tenants and other occupants of any building thereon. These grants, covenants and easements are each imposed upon the Leisinger Property, all of which are to be construed as grants, covenants and casements running with the land and with each and every part thereof. 2. GRANT OF WATER RIGHTS: COVENANTS REGARDING WATER RIGHTS: EASEMENTS AND RESERVATIONS. (a) Grant. Subject to the reservations hereafter contained, Grantors hereby grant, sell, convey and confirm unto Grantee, all of Grantors' right, title and interest in and to all ground water and surface water rights located on, appurtenant to or used in connection with Tract B of the Lcisinger Property (the "Water Rights"). (b) Covenants. Grantors hereby covenant and agree as follows: (i) Grantors will not irrigate or otherwise utilize the Watcr Rights; (ii) Any future crops plantcd and/or grown on Tract B of the Leisinger Property shall be previously approved, in writing, by the Central Plattc Natural Resources District; (iii) Any future use of the Lcisinger Property by Grantors affecting the Water Rights shall be prior approved, in writing, by Grantee and any applicable regulatory agencies that have jurisdiction over the Water Rights, including, but not limited to, the Central Platte Natural Resources District and the Nebraska Department of Natural Resources (collectively, the "Regulatory Agencies"); (iv) Grantors shall, within thirty (30) days of the date first written above, at their sole expense, with respect to the center pivot well located on Tract A of the Leisinger Property (the "Irrigation Well"), which Grantors represent is the sole source of ground water for irrigation on Tract B of the Leisinger Property, take all actions required by any of the Regulatory Agencies and/or reasonably rcquested by Grantee to assure that the Irrigation Well is not used for irrigation on Tract B of the Leisinger Property, including, but not limited to: (i) installing pivot stops on the pivot that uses the Irrigation Well, so that the pivot will not enter onto 2