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DECLARATION OF COVENANTS AND EASEMENTS THIS DECLARATION, executed this day of March, 2011 by the South Bend Redevelopment Commission (the "Declarant "), governing body of the Department of Redevelopment (the "Department ") of the City of South Bend, Indiana (the "City ") and the Redevelopment District of the City (the "Redevelopment District "), exists and operates under the provisions of the Redevelopment of Cities and Towns Act of 1953 which has been codified in I.C. 36 -7 -14 et seq., as amended from time to time (the "Act ") WITNESSES: Recitals WHEREAS, Declarant is the owner of certain real property that is located in St. Joseph County, Indiana, and more particularly described in Exhibit A, attached hereto and incorporated herein by this reference (the "Real Estate "); WHEREAS, Declarant may acquire, convey, or develop other real property adjacent to or near the Real Estate (the "Adjacent Real Estate "), which other real property Declarant may annex into, and make a part of, the Real Estate and the Project; WHEREAS, Declarant intends to develop the Real Estate as a certified technology park (the "Project ") commonly known as Ignition Park; WHEREAS, each parcel of real property within the Real Estate and the Project hereinafter is referred to as a "Parcel," and each owner of a Parcel hereinafter is referred to as an "Owner "; WHEREAS, Declarant and the current and future owners, mortgagees, and holders of any interest in or to the Real Estate are referred to as the "Parties in Interest "; WHEREAS, each Parcel of the Real Estate upon which a building is built, constructed, or erected hereinafter is referred to as an "Improved Parcel "; WHEREAS, Declarant intends to subdivide the Real Estate by recording one or more subdivision plats, surveys or other instruments subdividing the Real Estate in the Office of the Recorder of St. Joseph County, Indiana (said subdivision plats, surveys or other instruments, as the same may be amended or supplemented from time to time, including any subdivision plat(s), survey(s) or other instrument(s) for any Adjacent Real Estate hereafter subjected to the provisions of this Declaration and which are hereafter recorded in the Office of the Recorder of St. Joseph County, Indiana, as the same may be amended or supplemented from time to time by replatting or otherwise, are hereinafter referred to as the "Plat "); and WHEREAS, Declarant desires in this Declaration to provide for the construction, installation, use, operation, maintenance, repair, and replacement of improvements, roads, equipment,