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• <br />DEVELOPMENT AGREEMENT <br />THIS Agreement is made and entered into this day of , 2006 by <br />the South Bend Redevelopment Authority, 1200 County -City Building, 227 W. Jefferson Blvd., <br />South Bend, Indiana ( "Owner ") and Marathon Pipe Line LLC, 539 South Main Street, Findlay, <br />Ohio, 45840, a Delaware limited liability company ( "Company "), and is effective upon <br />successful recording prior to the Owner's transfer, assignment, sale or other divestment of its fee <br />simple interest and title in the parcels identified infra. Furthermore, this Agreement has been <br />acknowledged by the South Bend Redevelopment Commission, JF +A Properties, Ltd. /CII &P <br />and County Mayo /SB, LLC (collectively, the "Developer ") and agreed to be bound by its terms. <br />WHEREAS, the Company owns (i) that Right of Way Agreement granted 6/8/1957 and <br />recorded in the St. Joseph County Recorders Office at Book 568, page 21, as amended by the <br />Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. <br />Joseph County Recorder's Office as Record Number 9328168, and as further amended by the <br />Easement Amendment With License executed as of and recorded <br />at the St. Joseph County Recorder's Office as Record Number (collectively, "Easement No. 2 "); <br />and (iii) that Right of Way Agreement granted 5/13/1957 and recorded in the St. Joseph County <br />Recorders Office at Book 568, page 19, as amended by the Partial Release of Right of Way <br />Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office <br />as Record Number 9328169 and as further amended by the Easement Amendment With License <br />executed as of and recorded at the St. Joseph County Recorder's <br />Office as Record Number (collectively, "Easement No. 3 "; and collectively with Easement No. <br />2, the "Pipeline Easements "); and <br />WHEREAS, Owner owns certain land designated Lot 3A and a portion of Lot 7, which <br />are described at Exhibit A and depicted at Exhibit B, burdened by the Pipeline Easements (the <br />"Site "); and <br />WHEREAS, Owner requests that it be allowed to develop the Site which is burdened by <br />the Pipeline Easement as a hotel and the Company wishes to maintain proper standards for this <br />Site development for a hotel and protect its pipeline and Pipeline Easements. <br />NOW, THEREFORE, for and in consideration of the following mutual promises and <br />other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, Owner and Company agree as follows: <br />1. OWNER ACTIVITY. Owner shall ensure that all construction activity by or on <br />behalf of Owner and the operation and maintenance of any encroachment consented to under <br />this Agreement and its use by or on behalf of the owner, and any encroachment that may be <br />consented to by the Company in the future and its use ( "Owner Activity or Activities ") are <br />conducted in accordance with the Company's applicable operational rules and policies in <br />Page 1 of 8 <br />