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<br />N <br />C$l <br />C$l <br />(Xl <br />C$l <br />-..J <br />~ <br /><.TI <br />(Xl <br /> <br />I <br /> <br />Ii' <br />:"'" <br />;; <br />I <br /> <br /> 10 E <br /> m m <br /> .." <br /> c: :z <br /> :3: ,....~ --t <br /> Z =.:> <br />n <:;;::) Q(f) m <br />1: ~ 0 ;u~, co o -~ C :0 <br />m ~ ~ Cl> m <br />n (I) ~,t c 2 ~ N 0 <br />jllll; X C) -if'T1 )> <br /> -< c;, a en <br /> ........ <br /> co o ""T') c::> z <br /> ~ -"z <br /> 0 Q' co en <br /> ::r:ri) --I <br /> f"T1 f -u )> cn :D <br /> 1''1 C) <br /> 0 .:3 r ;;:u c: <br /> en r)> ~ :s: <br /> G.) (f) n1 <br /> ;:><: ........ ::z: <br /> ..... )> -I <br /> N "-' "-' U1 :2 <br /> co (n 0 <br /> (f) 0:> <br /> 200807158 <br /> <br /> <br />DEVELOPMENT AGREEMENT <br /> <br />This Development Agreement ("Agreement") dated as of August 6 2008, is between' <br />ALLEN WEBB ROAD LLC, a Nebraska limited liability company ("Developer"), and <br />VILLAGE DEVELOPMENT - GRAND ISLAND, LLC, a Nebraska limited liability company <br />("Owner"). ' <br /> <br />.., <br /> <br />~ <br /> <br />o <br />01 <br /> <br />PRELIMINARY STATEMENT <br /> <br />Contemporaneously with the execution of this Agreement, Owner acquired from <br />Developer ownership of Lots 1 and 2, Meadowlark West Fourth Subdivision, in Grand Island, <br />Hall County, Nebraska (the "Property"). The Property is situated within the mixed use <br />commercial area commonly known as Eagle Run ("Eagle Run"). Incident to such acquisition, <br />Owner and Developer have agreed to execute and exchange this Agreement to evidence their <br />agreement and understanding with respect to the development and use of the Property. <br /> <br />TERMS AND CONDITIONS <br /> <br />In consideration of the foregoing Preliminary Statement, which is repeated in its entirety <br />in this portion of this Agreement, and other valuable consideration, the receipt of which is <br />~cknowledged, Developer and Owner agree as follows: ' <br /> <br />1. Subdivision, Aereement with Citv of Grand Island. The Property and any <br />development and use of the Property is subject to the terms and provisions of that certain <br />Subdivision Agreement dated June 4, 1999"(llie "Subdivision Agreement") by and between the <br />City of Grand Island and Robert M. Allen Family Limited Partnership. From and after the date <br />of Owner's acquisition of the Property, Owner and its successors and assigns agree to assume <br />and perform all of the site or lot specific obligations lUlder the Subdivision Agreement, if any, <br />imposed on the owner ofllie Property or which are applicable only to the Property. <br /> <br />2. Plans. Prior to the commencement of any building or any other improvements on <br />the' Property, Ovvner shall deliver to Developer or its designee (i) a Site Plan of the Property <br />depicting any building and all other improvements to be constructed on the Property (such <br />building and other improvements are referred to collectively as the "Proj ect"); and (ii) Plans and <br />Specifications of the Project, including elevations of the building, landscaping plans, and exterior <br />signage drawings. Developer shall have a period of fifteen (15) business days after receipt <br />within which to review and either (a) approve, (b) partially approve and suggest revisions with <br /> <br />r'(jl <br /> <br />PROFESSIONAL TITLE AND ESCROW CO <br />8535 EXECUTIVE WOODS DRIVE #300. <br />LINCOLN, NE 68512 ' <br /> <br />C lf3JJL- <br /> <br />& <br />~\o <br />