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PARKING EASEMENT AGREEMENT
<br /> THIS PARKING EASEMENT AGREEMENT (the "Agreement") is made this day
<br /> of , 2014, by and between Equal Holdings XIII, LLC, an Indiana limited
<br /> liability company (the "Grantor"), and Hoffman Hotel Apartments Housing Partners, L.P., an
<br /> Indiana limited partnership(the"Grantee").
<br /> WITNESSES THAT:
<br /> WHEREAS, Grantor is the owner of certain real estate located in St. Joseph County,
<br /> Indiana, and described on Exhibit A attached hereto and made a part hereof (the "Grantor
<br /> Property");
<br /> WHEREAS, Grantee is the owner of certain real estate located in St. Joseph County,
<br /> Indiana, and described on Exhibit B attached hereto and made a part hereof (the "Grantee
<br /> Property"); and
<br /> WHEREAS, Grantor desires to grant, and Grantee desires to obtain, an exclusive
<br /> easement in, on, under, over, through and across the Grantor Property, for a term of ninety (90)
<br /> years, for the common passage of persons or motor vehicles across the Grantor Property and for
<br /> parking passenger motor vehicles (the "Parking Lot").
<br /> NOW, THEREFORE, in consideration of the foregoing Recitals, the mutual agreements
<br /> contained herein, and other good and valuable consideration, the receipt and legal sufficiency of
<br /> which are hereby acknowledged, and the mutual undertakings hereinafter contained, the parties
<br /> do hereby agree as follows:
<br /> Easements
<br /> Section 1. Easement. Grantor hereby grants, creates, declares, makes and conveys to
<br /> Grantee, Grantee's successors, assigns, any tenants on the Grantee Property and their respective
<br /> licensees and invitees, or any of the agents or representatives of the foregoing, an exclusive
<br /> easement in, on, under, over, through and across the Grantor Property, for the common passage
<br /> of persons or motor vehicles across the Grantor Property and for parking passenger motor
<br /> vehicles (the "Easement"). The Easement is for the benefit of the Grantee Property.
<br /> Section 2. Term. The term of the Easement granted hereunder shall commence as of
<br /> the date hereof(the"Commencement Date") and shall run for a period of ninety (90) consecutive
<br /> years from the Commencement Date, unless sooner terminated in accordance with the terms
<br /> hereof.
<br /> Section 3. Maintenance and Repair Obligations. The owner of the Grantee Property,
<br /> its successors and/or assigns, as the "Maintenance Agent", shall be responsible for the repair,
<br /> replacement and/or maintenance of the Parking Lot and any other improvements or landscaping
<br /> constructed or installed on the Grantor Property, including but not limited to snow removal, at its
<br /> sole cost and expense.
<br /> {20142245.DOC}
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