Declaration of Covenants and Easements by TCDC of La Porte, Inc.

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-3- for the repair and maintenance of the roadway constructed pur- suant to this Paragraph E and each shall bear the cost of repairing and maintaining that portion of the roadway which traverses their respective parcels. Any owner of a parcel be- nefitted by the easements created by this Section I shall have the right, in the event any owner fails to maintain or repair their respective portion of the roadway, to effect such mainte- nance or repair, and shall be entitled to be reimbursed for the cost of such maintenance or repair by the owner failing to so maintain or repair the roadway. The Owner of Parcel 1 further grants to each of the owners of Parcel 2 and Parcel 3 the right to place one or two business identification signs on or about the Roadway Easement Tract, provided the owners of Parcel 2 and Parcel 3 shall have the Owner of Parcell's written approval of the format, color and size of such signs, which approval shall not be unreasonably withheld. The Owner of Parcel I shall be deemed to approve such signage if the owners of Parcels 2 or 3 submit such for- mat, color and size for approval and ,approval or written notice of disapproval is not received by the owners of Parcels 2 or 3 within fifteen (15) days after submission for signage approval. II. Rail Easements A. The Owner of Parcel 3 hereby grants to the owners of Parcel I and Parcel 2, for the benefit of Parcels 1 and 2, respectively, a non-exclusive, perpetual easement and right of way for the purposes described in Paragraph C of this Section II, on, over, across and along those portions of Parcel 3 described on Exhibit E attached hereto and made a part hereof (the "Railroad Easement Tract"). B. The Owner of Parcel 2 hereby grants to the Owner of Parcel 1, for the benefit of Parcel 1, a non-exclusive, perpet- ual easement and right of way for the purposes described in Paragraph C of this Section II, on, over, across and along . e e