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<br />
<br />DECLARA TION OF SIGN EASEMENT
<br />
<br />This Declaration of Sign Easement ("Declaration") dated as of February ~, 2008, by
<br />ALLEN PHASE III LLC, a Nebraska limited liability company ("Grantor").
<br />
<br />Preliminary Statement
<br />
<br />Grantor and its affiliated entities are the owners of the shopping center commonly known as
<br />Eagle Run Shopping Center ("Eagle Run") in Grand Island, Hall County, Nebraska, and generally
<br />bounded on the north by 13th Street, the west by U.S. Highway 281, the east by Webb Road and the
<br />south by Faidley Road.
<br />
<br />Grantor desires to establish a perpetual easement under, over, upon, and above that portion
<br />of Lot 2, Meadowlark West Fifth Subdivision, Hall County, Nebraska ("Lot 2") situated near the
<br />southwl;:sterly comer of Lot 2 as depicted on Exhibit "A" attached and incorporated herein by this
<br />reference (the "Easement Area") for the installation, repair, replacement and removal of a pylon or
<br />monument sign, including reasonable access over Lot 2 for access and temporary storage on the
<br />Easement Area during the installation, repair, replacement and removal process and ancillary
<br />easements as more particularly described in the Declaration.
<br />
<br />Terms and Conditions
<br />
<br />In consideration of the foregoing Preliminary Statement, which by this reference is repeatcd
<br />and incorporated in this portion of this Declaration in its entirety, and other valuable consideration,
<br />the receipt of which is hereby acknowledged, the Grantor hereby declares as follows:
<br />
<br />1. Grant of Easement. Subject to the provisions of this Declaration, Grantor hereby
<br />reserves, establishes and creates a perpetual non-exclusive easement solely for the construction,
<br />placement, installation, repair, maintenance, replacement and removal of one free-standing pylon or
<br />monument sign (collectively the "Sign") under, over, upon and above the Easement Area, including
<br />a perpetual non-exclusive easement for (i) the installation, maintenance, repair and replacement of
<br />an underground electrical line within the Easement Area in as close proximity to the Sign as
<br />reasonably practical and which is necessary for the operation and illumination of the Sign, and (ii) a
<br />perpetual non-exclusive easement over the Easement Area for the temporary storage of sign
<br />components, equipment, parts and supplies and staging during the exercise of the easements granted
<br />in this Declaration. Grantor shall exercise its rights under this Declaration with minimal
<br />interference with the use, construction and/or business operations on Lot 2, and shall work
<br />expeditiously to limit its need and use of the temporary storage on Lot 2.
<br />
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