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respective rights and obligations of Emerald and Lakewood in regard to the driveway and other improvements to be constructed within the Lakewood Parking Easement Area and the Emerald Driveway Easement Area and in regard to the cleaning, maintenance, repair and replacement of the Emerald Driveway Easement Area and the sharing of the costs thereof are set forth in Articles III and V of this Agreement. 2.2 Lakewood Parking Easement. Lakewood does hereby grant and convey to Emerald, its successors and assigns, an exclusive, perpetual easement for the purpose of vehicular parking in the Lakewood Parking Easement Area as identified on Exhibit C and known as the seven (7) southernmost, angled parking spaces shown thereon. Lakewood does hereby also grant and convey to Emerald, its successors and assigns, a temporary driveway and parking easement over and across the currently paved portions of the Lakewood Property which temporary easement terminates as soon as Lakewood commences construction of the Lakewood Improvements. ARTICLE III. DEVELOPMENT BY LAKEWOOD Lakewood hereby agrees that Lakewood will perform and provide, or cause to be performed or provided, all work, labor, materials, equipment and services required to implement, construct, install and complete all elements and components of the Lakewood Improvements in accordance with the attached Exhibit E. All costs and expenses incurred by Lakewood to construct and install the improvements comprising the Lakewood Improvements will be borne by Lakewood. Once the on -site work and improvements in connection with the Lakewood Improvements have commenced, Lakewood will prosecute the construction and installation of such work and improvements continuously and expeditiously until completion thereof. Lakewood shall require all contractors and subcontractors at all tunes to minimize interference with the Donatos pickup window access drive. ARTICLE IV. CLEANING, MAINTENANCE AND REPAIR After completion by Lakewood of the Lakewood Improvements, Emerald will be responsible for maintaining the Emerald Driveway Easement Area and the Lakewood Parking Easement Area in a clean and orderly condition, including the periodic (to the extent necessary) sweeping and removal of debris, refuse, and ice and snow. All sweeping will be at appropriate intervals during such times as will not unreasonably interfere with the use of the Emerald Driveway Easement Area by Lakewood employees. Emerald will also be responsible for maintaining the paved surfaces and curbs of the Emerald Driveway Easement Area in a smooth and evenly covered condition, including, without limitation and to the extent necessary, replacement of base, skin patch, resealing, resurfacing and restriping. Emerald will also be responsible for maintaining, cleaning, repairing and replacing any directional or stop signs and for re- marking any pedestrian crosswalks, all on an "as needed" basis. The costs incurred by Emerald under this Article will be borne by Emerald. 3 Active 29774149v8 999900 944285