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

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e e . . rights of way or easements necessary or desirable in connection therewith in an amount equal to such costs and expenses multi- plied by a ratio the numerator of which is the number of square feet of improvements on the subject parcel and the denominator of which is the sum of the number of square feet of improve- ments on Parcels 1, 2 and 3. Each time improvements are added to a parcel, an additional sum, calculated on the same formula but deducting therefrom any amounts previously paid, shall be payable to the Owner of Parcel 1. In the event any of the costs and expenses incurred by the Owner of Parcel 1 in so extending said water line are reimbursed to the Owner of Parcel 1 either by the City of Laporte or any other party, the Owner of Parcel 1 shall pay over to the Owner of Parcel 2 and the Owner of Parcel 3, if said owners have contributed to the cost of such extension as provided herein, that percentage which each has paid of all amounts so reimbursed. For purposes of this paragraph B, "improvements" shall mean the warehouse building and any ancillary buildings or structures constructed on each of Parcel 1, Parcel 2 and Parcel 3. V. Fire Protection System A. The Owner of Parcel 1 hereby grants to the Owner of Parcel 2 and the Owner of Parcel 3, for the benefit of Parcels 2 and 3, respectively, a non-exclusive perpetual, easement for the purposes described in Paragraph C of this Section V across, upon and under those portions of Parcel 1 described on Exhibit G hereto (the "Fire Protection Easement Tract"). B. The Owner of Parcel 2 hereby grants to the Owner of Parcel 1 and the Owner of Parcel 3, for the benefit of Parcels 1 and 3, respectively, a non-exclusive, perpetual easement for the purposes described in Paragraph C of this Section V across, upon and under those portions of Parcel 2 described on the Fire Protection Easement Tract. -7-