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200510142 AND Grantor, for itself, its successors and assigns, covenants and agrees to and with Grantee, its successors and assigns, to warrant and defend the quiet and peaceable possession of the Property by Grantee, its successors and assigns, against every person who lawfully claims the Property or any part thereof by, through or under Grantor, subject to the Permitted Exceptions and the covenants, conditions and restrictions herein contained. L RESTRICTIONS. 1.1 Intent as to Restrictions. The Property is conveyed and this conveyance is accepted subject to and upon the express terms, covenants, conditions and restrictions contained in Articles 1,2 and 3 of this Deed (collectively, the "Restrictions"), which Restrictions are made for the benefit of Grantor, its successors and assigns, and for the benefit of the Property and the lands surrounding the Property which are now or hereafter owned by Grantor, and its successors and assigns ("Grantor's Parcel"), and which Restrictions impose a burden on the Property. Recordation of this Deed shall constitute the agreement by Grantee, for itself and its successors and assigns, to be bound by and to comply with the following covenants, conditions and restrictions. In the event that Grantor reacquires title to the Property or any portion thereof at any time, the Restrictions shall be null and void and of no further force or effect as to the portion of the Property acquired by Grantor from and after the date the title to any such Property vests in Grantor. Whenever reference is made to Grantor in the Restrictions, the reference shall be deemed to include successors and assigns of Grantor. However, with respect to the Restrictions, a person or party shall be deemed a "successor and assign" of Grantor only if specifically designated in a duly recorded instrument as a successor or assign of Grantor under this Deed and shall be deemed a successor and assign of Grantor only as to the particular rights or interests of Grantor which are specifically designated in the written instrument; provided, however, that a successor to Grantor by consolidation or merger shall automatically be deemed a successor or assign of Grantor for purposes of the Restrictions. 1.2 Use of Property. Grantee acknowledges that Grantor is selling the Property in accordance with the overall plan for the development of Grantor's Parcel, and is selling the Property to Grantee primarily in reliance on Grantee's agreement to construct on the Property a building containing approximately 78,200 square feet, to be used initially as a grocery store, including without limitation, construction of a parking lot containing no less than five (5) parking spaces per one thousand (1,000) square feet of building area to be constructed on the Property. 1.3 Acceptance of Improvements, Site Plan, and Working Drawings. (a) Improvements. The "Improvements" shall mean the building or buildings, sidewalks, parking lots, signs, and all other improvements to be constructed upon the Property by Grantee. (b) Site Plan. "Site Plan" shall mean a site plan of the Property which shall include: (i) a plan showing the location of the building and other improvements to be {31858.2.10/1Of2005 10:00 AM.RFISCHER.A0208687.DOC;4} 2