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200501142-
<br />TEMPORARY CONSTRUCTION EASEMENT
<br />THIS TEMPORARY CONSTRUCTION EASEMENT ( "Easement ") is made and
<br />entered into this i I day of —1 an uuL�Y , 2005 by NORTHCOTT COMPANY, a South
<br />Dakota general partnership ("Grantor") 281 & OLD POTASH LLC, a Nebraska limited
<br />liability company ( "Grantee ").
<br />For and in consideration of the sum of Ten and no /100 Dollars ($10.00), and other good
<br />and valuable consideration, the sufficiency of which is hereby acknowledged, and in further
<br />consideration of the performance of the covenants and agreements contained herein by Grantee,
<br />its successors and assigns, Grantor does hereby grant to Grantee, its successors and assigns, a
<br />temporary construction easement to use and occupy that real property situate, lying and being in
<br />the County of Hall, State of Nebraska, more particularly described on Exhibit A attached hereto
<br />and by this reference incorporated herein ( "Easement Premises "). The Easement is granted for
<br />the purpose of constructing curb cuts for Lot 1 and Lot 2, Martin's Subdivision, City of Grand
<br />Island, Hall County, Nebraska (the "Northcott Property "), onto Wilmar Avenue, including
<br />without limitation, any required landscaping, irrigation work, lighting and signage work,
<br />electrical wiring and any necessary associated paving ( "Access Work "), together with
<br />construction of all improvements required pursuant to that certain Subdivision Agreement to be
<br />recorded concurrently with this Easement (collectively, "Subdivision Improvements ").
<br />1. The right, privilege and easement granted by this Easement shall be effective on
<br />the date first set forth above, and this Easement shall automatically terminate and cease to be of
<br />any further force and effect upon the first to occur of the following: (a) when the Access Work
<br />and Subdivision Improvements are completed; or (b) December 31, 2007.
<br />2. Not later than the termination of this Easement, Grantee shall repair and restore
<br />any damage to the Northcott Property resulting from the performance of the Access Work as
<br />nearly as may reasonably be, to the condition it was in immediately prior to such damage.
<br />3. It is expressly acknowledged and agreed that Grantee shall have the right and
<br />authority to assign to any appropriate governmental or quasi - governmental entity, all rights to
<br />use, and all obligations associated with, this Easement as is granted to and assumed by Grantee
<br />herein.
<br />4. Grantor, for itself, its successors and assigns, does covenant and agree to and with
<br />Grantee, its successors and assigns, that at the time of delivery of this Easement, Grantor is well
<br />seized of the property on which this Easement is located, and has good, sure, absolute and
<br />indefeasible estate, in law, in fee simple, and has good right, full power and authority to grant
<br />and convey the same in the manner and form as set forth herein, and that the Easement Premises
<br />is free and clear of all former and other grants, encumbrances or restrictions.
<br />5. This Easement, and the covenants and agreements contained in this Easement,
<br />shall inure to the benefit of and be binding upon Grantor and Grantee, and the successors and
<br />assigns of the respective parties.
<br />131081.56.1/10/2005 04:23 PM.MWIL.A0183505.DOC;21
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