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V <br />i <br />DECLARATION OF COVENANTS <br />This declaration is made this 2-a day of AUk US T , 1997, by Berger Transfer <br />& Storage, Inc., a Minnesota corporation, hereinafter referred to as the Owner. <br />WHEREAS, the Owner is the owner of the real estate described on Exhibit A (attached <br />hereto and made a part hereof), hereinafter called the Subject Property; and <br />WHEREAS, the Owner has submitted an application numbered LP329 to the City of New <br />Brighton, Minnesota, hereinafter referred to as the City, for Site Plan Approval for an addition <br />to a building for warehouse storage space on the Subject Property; and <br />WHEREAS, the Zoning Ordinance of the City calls for 190 motor vehicle parking spaces <br />on the Subject Property; and <br />WHEREAS, the Owner has requested that it be permitted to build, at this time, 52 parking <br />spaces with 138 additional parking spaces to be constructed at some time in the future; and <br />WHEREAS, the City Council, on the 26th day of August, 1997, gave preliminary <br />approval to the Owner's request, conditioned, inter alia, upon the execution of a guarantee for <br />the future construction of 138 additional parking spaces. <br />NOW, THEREFORE, the Owner hereby declares that the Subject Property shall be held, <br />sold and conveyed subject to the following covenants, conditions and restrictions which are for <br />the purpose of providing 138 additional parking spaces in accordance with the ordinances of the <br />City of New Brighton and which shall run with the land described herein and which shall be <br />binding on all parties having any right, title or interest in the land so described, or any part <br />thereof, their heirs, successors and assigns, and which shall inure to the benefit of such parties <br />and the City. <br />CLL129491 <br />NE136-8 <br />1