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<br />DECLARATION OF
<br />PROTECTIVE COVENANTS AND EASEMENTS
<br />
<br />COUNTY OF HARRIS
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<br />9
<br />9
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<br />KNOW ALL MEN BY THESE PRESENTS:
<br />
<br />THE STATE OF TEXAS
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<br />THAT, PORT CROSSING LAND, L.P., a Texas limited partnership (hereinafter called the
<br />"Developer"), being the owner of certain tracts of land containing a total of approximately 231 acres, out of
<br />the H. Sanders Survey, Abstract 753, Harris County, Texas, being more particularly described in Exhibit A
<br />attached hereto and made a part hereof for all purposes (said tracts of land being hereinafter referred to as
<br />the "Port Crossing" or "Subject Property") and any portion thereof platted as a separate tract or conveyed
<br />to third parties or developed by Developer or an affiliated entity being hereinafter referred to as a "Tract",
<br />for the purpose of adopting a uniform plan for the benefit of the present and future owners of any portion of
<br />the Port Crossing, does hereby adopt and establish restrictions, covenants and easements as hereinafter
<br />provided for the Subject Property.
<br />
<br />Powell Road Logistics, L.P., a Texas limited partnership, National Property Holdings, L.P., a Texas
<br />limited partnership, Del Piso Investments, LLLP, a Arizona limited liability limited partnership and FLPCW,
<br />LP, a Texas limited partnership, the owners (collectively, the "Other Owners") of certain tracts of land also
<br />containing a total of approximately 63 acres, out of the H. Sanders Survey, Abstract 753, Harris County,
<br />Texas, being more particularly described in Exhibit B attached hereto and made a part hereof for all
<br />purposes (said tracts of land also comprising part of the "Port Crossing" or "Subject Property") are joining
<br />in this "Declaration" (hereafter defined) for the purpose of adopting and establishing the restrictions,
<br />covenants, and easements as hereinafter provided for the portion of the Subject Property owned by the
<br />Other Owners.
<br />
<br />Developer contemplates developing the Port Crossing in a manner which will include public streets,
<br />a water distribution system, a sanitary sewer system, and drainage/detention facilities within the Subject
<br />Property and Developer reserves the right to create such public streets and utility-related facilities. Any
<br />portions of the Subject Property reserved or restricted or conveyed to the "Association" (hereafter defined)
<br />for private streets, utility facilities, and landscaping shall not be subject to "Assessment" (hereafter defined).
<br />Additionally, any portion of the Subject Property dedicated for utility facilities (excluding, however, any
<br />portion of a Tract) or conveyed to governmental authorities shall not be subject to the restrictions contained
<br />in this Declaration, except for the prohibited uses described in Article 1.
<br />
<br />Developer, for itself, and its successors and assigns, and the Other Owners (as to the portion of the
<br />Subject Property owned by each of the Other Owners, respectively) hereby declare that the Port Crossing
<br />and each part thereof shall be owned, held, transferred, conveyed, sold, leased, rented, hypothecated,
<br />encumbered, used, occupied, maintained and improved subject to the covenants, conditions, restrictions,
<br />limitations, reservations, easements, equitable servitude and other provisions set forth in this Declaration
<br />Of Protective Covenants And Easements ("Declaration"). The Tracts and Private Facilities within the
<br />Subject Property shall be subject to the jurisdiction of the "Association" (hereafter defined). The covenants,
<br />conditions, restrictions, limitations, reservations, easements and equitable servitudes shall run with, inure
<br />to the benefit of, and shall be binding upon, all of the Subject Property, and each Tract and any common
<br />area therein, and shall be binding upon and inure to the benefit of (a) the Developer, its successors and
<br />assigns, (b) the Association and its successors and assigns, and (c) all persons or entities (the "Owner(s)")
<br />having or hereafter acquiring any right, title, or interest in or to any portion of the Subject Property and their
<br />heirs, legal representatives, successors and assigns, other than for security purposes.
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<br />H-Declaration of Protective Covenants and Easements.DOC
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