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200510140 DE CLARA TION OF SIGN EASEMENT This DECLARATION OF SIGN EASEMENT ("Declaration") is made as of the I tJ day of Dc fvbt-r , 2005 by 281 & OLD POTASH LLC, a Nebraska limited liability company ("Declarant"), whose address is c/o Edgemark Development LLC, 410 1 ih Street, Suite 1705, Denver, Colorado 80202. RECITALS: A. Declarant is the owner and developer of certain property located in the City of Grand Island, County of Hall, State of Nebraska, as more particularly described on Exhibit A attached hereto and incorporated herein by this reference (the "Property"), on which Declarant intends to construct a shopping center (the "Shopping Center"). B. Declarant intends to construct a monument sign advertising the Shopping Center and the tenants thereof (the "Sign"), upon a certain portion of the Property described on Exhibit B attached hereto and incorporated herein by this reference (the "Sign Parcel"). C. Declarant desires to declare and create, for the benefit of Declarant, a non-exclusive easement ("Easement") for the construction, installation, operation, use, maintenance, repair, replacement and/or removal of the Sign upon the Sign Parcel and the right of ingress and egress over and across that certain portion of the Property now or hereafter used as driving lanes and common area on Lot 2, Martin's Fourth Subdivision, County of Hall, State of Nebraska (the "Access Parcel"), for the purpose of accessing the Sign Parcel and the Sign. NOW THEREFORE, in consideration of the foregoing: 1. Declarant hereby declares, grants and conveys for itself, its agents, successors and assigns, a non-exclusive easement on, over and across the Sign Parcel for the construction, installation, maintenance, repair, replacement and removal of the Sign, and the right of ingress and egress across the Access Parcel to access the Sign Parcel and the Sign. Upon the completion of any work on the Sign or the Sign Parcel, Declarant, at its sole cost and expense, shall promptly repair and restore any material damage to the Sign Parcel and the Access Parcel resulting from any such entry. 2. Declarant shall maintain, repair and replace the Sign in a good and attractive operating condition. Any and all work performed in connection with the Sign shall be done in a good and workmanlike manner and, once commenced, shall be promptly and diligently pursued to completion. Any and all such work shall be done in a manner so as not to unreasonably interfere with the operations being conducted on or from the Property. 3. Each and every one of the benefits and burdens of this Declaration shall inure to and be binding upon the respective successors and assigns of Declarant. The benefits and burdens hereof shall be a covenant running with the land and be appurtenant thereto. {318582.101712005 II :06 AM.MWIL.AO 196648.DOC;2}