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<br />409635.4 <br /> <br />200801581 <br /> <br />To Developer: <br /> <br />Allen Phase III LLC <br />1115 West Second Street <br />P.O. Box 987 <br />Hastings, Nebraska 68902 <br />Attn: Robert M. Allen <br /> <br />To Owner: <br /> <br />Highway Motels of Nebraska, Inc. <br />c/o Five Points Bank <br />2015 North Broadwell <br />Grand Island, Nebraska 68802 <br />Attn: William W. Marshall, III <br /> <br />B. The provisions of this Agreement are not intended to create, nor shall <br />they in any way be interpreted to create, a joint venture, a partnership, or any other <br />similar relationship between the parties. <br /> <br />C. The captions heading the various sections of this Agreement are for <br />convenience and identification only, and shall not be deemed to limit or define the <br />contents of their respective sections. <br /> <br />D. This Agreement, and all of its exhibits and incorporated documents, <br />constitutes the entire integrated agreement between Owner and Developer relating to <br />the items described herein, and supersedes all prior negotiations, representations, <br />understandings and agreements, either written or oral. <br /> <br />E. This Agreement shall be interpreted according to Nebraska law. The <br />invalidity of any provision of this Agreement shall not affect the remaining provisions. <br />One or more waivers of a default shall not be deemed a waiver of a later default. <br /> <br />F. In the event Developer does not respond to Owner's written requests for <br />approvals or consents of Developer as required by this Agreement, within thirty (30) <br />days of the effective date of delivery to Developer of such Owner's written request, such <br />request shall be deemed approved. <br /> <br />G. This Agreement shall be binding on and inure to the benefit of the Parties <br />and their successors and assigns. The obligations of Owner under this Agreement shall <br />be deemed covenants running with the land and shall bind the Property, and every <br />owner acquiring an interest in the Property, in perpetuity. The Owner acknowledges that <br />the execution and delivery of this Agreement was a material inducement to and <br />consideration for Developer's conveyance of the Property to Owner. <br /> <br />H. Developer shall have the right to delegate or assign any approval or <br />consent rights under this Agreement upon written notice to Owner. <br /> <br />I. This Agreement may be amended only by written agreement of the <br />Parties and their respective successors and assigns which amendment shall be deemed <br />effective upon recordation with the Register of Deeds of Hall County, Nebraska. <br /> <br />5 <br />