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DRAFT #2 3/19/07 <br />PREPARED BY AND UPON <br />RECORDING RETURN TO: <br />RICH ROSENBLATT <br />KUTAK ROCK LLP <br />1650 FARNAM STREET <br />OMAHA, NE 68102-2186 <br />Hastings, MN <br />Store No. 1472-OS <br />CONSTRUCTION EASEMENT <br />THIS CONSTRUCTION EASEMENT (this "Easement") is made this day of <br />2007 by and among WAI. MART REAL ESTATE BUSINESS TRUST, a <br />Delaware statutory trust ("Grantor), whose address for notice purposes is 2001 Southeast <br />l0`~' Street, Bentonville, Arkansas 72716-005Q Attention: Real EstatelLesal Division, <br />Minnesota, Store No. 1472-OS and THE CITY OF HAS"TINGS, MINNESOTA, a Minnesota <br />municipal corporation, whose address fbr notice purposes is <br />PRELIMINARY STA"CEMENTS <br />Subject to matters of record, Grantor holds fee title to the real property (the "Grantor <br />Property") legally described in Exhibit A attached hereto and incorporated herein, which <br />includes those portions of the Grantor Property (the "Easement Area") pictorially and legally <br />described in Exhibit B (hereinafter "Easement Area #1") and in Exhibit C (hereinafter <br />"Easement Area #2") attached hereto and incorporated herein. Grantor desires to construct <br />certain retail and other improvements upon the Grantor Property, subject to Grantee's approval <br />of the salve pursuant to applicable local laws, rules and ordinances. Grantee will not approve of <br />Grantor's construction of such retail and other improvements upon the Grantor Property unless <br />Grantor grants Grantee certain temporary construction easements on the easement areas at <br />Grantee's option and at Grantee's sole cost and expense and subject to the terms and conditions <br />of this Easement as further set forth herein. <br />AGREEMENT <br />For and in consideration of S l0 and other good and valuable consideration, the receipt <br />and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: <br />Section 1. Grant of Temporary Construction Easements. Subject to any matters of <br />record, Grantor hereby grants to Grantee: <br />(a) a construction easement to enter upon, render and across Easement Area # 1 <br />legally described on Exhibit B and depicted as the crosshatched areas on Exhibit B and <br />4851-5832-67852 <br />