R2009-236 AUTHORIZING REDEVELOPMENT AGREEMENT Pines Shopping Center

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4� ��ry �1 8.4 Duration of Covenants. lt is intended and agreed tliat the covenants provided in q� Sections 8.1 and 83 of this Agreement shall remain in effect until the earlier of (i) � termination of the Redevelopment Plan, or(ii) December 31, 2033 and that the covenants � provided in Section 8.2 hereof shall remain effective without any time limitation; �„� provided, that all such covenants shall be binding on the Redeveloper only for such � period as the Redeveloper maintains a direct interest in the Project Site or the Project or � part thereof (excluding, for example, an interest therein solely as a creditor or � mortgagee), and only with respect to such direct interest in the Project Site or the Project "' or part thereof. � � Q 8.5 Covenants Running with the Land. Subject to Section 8.4, it is intended and agreed � that the covenants set forth in Sections 8.1, 8.2, and 83 above shall be covenants running with the land and Sections 8.1 and 83 shall in any event be binding to the fullest extent permitted by law and equity, far the benefit and in favor of and enforceable by the City, and with regard to Section 8.2 hereof, the City, the State of Illinois and the United States of America. 8.6 Covenants Binding for the Benefit of City. Subject to Section 8.4, it is also intended and agreed that the foregoing covenants set forth in Sections 8.1, 8.2 and 83 above shall in any event, and without regard to technical classification or designation as legal or otherwise, be, to the fullest extent permitted by law and equity, binding for the benefit of the City and enforceable by the City, the State of Illinois and the United States of America as provided in Sections 8.4 and 8.5. 8.7 Forms of Covenants and Restrictions. Certain of the covenants, uses and restrictions referred to in this Article VIII shall substantially be in the form of the Declaration of Covenants, Uses and Restrictions attached hereto and made a part hereof as E�ibit 4, which shall be executed and recorded with the Macon County Recorder of Deeds on or before the date that the Redeveloper commences construction of the Project or any phase thereof. ARTICLE IX: INDEMNIFICATION 9.1 Redeveloper Indemnification of the City. So long as the Redeveloper maintains a direct interest in the Project or Project Site or any part thereof(excluding, for example, an interest therein solely as a creditor or mortgagee), the Redeveloper agrees to indemnify and save the City and its officers and employees harmless against all claims by or on behalf of any person, firm or corporation arising from (i) the Redeveloper's operation or management of the Project, or from any work or thing done by the Redeveloper on the Project Site, or any work or activity of the Redeveloper connected to the construction of the Project; (ii) any breach or default on the part of the Redeveloper in the performance of any of its obligations under or in respect of this Agreement; (iii) any act of negligence or willful or wanton misconduct of the Redeveloper or any of its agents, contractors, servants or employees; (iv) any violation by the Redeveloper of any easements, conditions, restrictions, building regulations, zoning ordinances, environmental regulations or land use regulations affecting the Project Site or the Project; (v) any violation of Applicable Law or (vi) any violation by the Redeveloper of state or federal securities law in connection with the offer and sale of interests in the Redeveloper, its affiliates or any part of the Project. The Redeveloper agrees to indernnify and save the City harmless from and against all costs and expenses incurred in or in connection with any such claim arising as aforesaid or in connection with any action or proceeding City of Decatur/Pines Shopping Center Redevelopment Agreement 10