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~...~ w n ,~., ~ m C m v_- ~ ° ~ -~ ~ ~ ~ ~ rr1 ~ Ns ~ y *- c ' "'~ ~ ~ ~ fU f l] ~ ~ ~ q m ~ -'p ~ rn ~ CCJ Crt] ~ ~ ~ ~ ~ ~ ~ r"' ~„ .r„a C m: . ~..~ ~ p S $O RE: Lot 2, Meadowlark West Seventh Subdivision , Hall County, Nebraska (a part of Lot 18, Meadowlark West Third Subdivision). DEVELOPER REPURCHASE AGREEMENT .This Developer Repurchase Agreerncnt (the "Agreement") is made and entered into this day of September, 2009, by and between NEBRASKA INVESTMENT ASSOCIATION, LLC, a Nebraska limited liability company, having a mailing address of 209 South 19~' Street, Suite 100, Omaha, Nebraska 6$102 (the "Owner"), and ALLEN 281 LLC, a Nebraska limited liability company, having a mailing address of P.O. Box 987, 111 S West 2°d Street, Hastings, Nebraska 68902-0987 (the "Developer"). PRELIMINARY STATEMENT Contemporaneously with the execution of this Agreement, Owner has acquired from Developer Part of Lot 18, Meadowlark West Third Subdivision, Grand Island, Hall County, Nebraska, as surveyed, platted and recorded (the "Property") pursuant to the terms and conditions set forth in the Real Property Sale Agreement dated August l 1, 2009, between the Parties (the "Purchase Agreement"), which acquisition is evidenced by the recordation of a Special Warranty Deed (the "Deed") from Developer to Owner, which was i=11ed of record prior to the recording of this Agreement. Owner has agreed to grant to Developer an option to repurchase the Real Property and all improvements and appurtenances thereon, exclusive of movable equipment and fixtures, inventory, signs and other personal property upon certain conditions. TERMS AND CONDITIONS NOW, THEREFORE, in consideration of the foregoing Preliminary Statement, which is incorporated. in its entirety in this portion of this Agreement and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: ~e~urn ~'~ ~rs~ ~ebr~l°~ l ~tC~ a~as 5~~~ ~~y~ bmu-~,