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LIMITED WARRANTY DEED <br />CITY OF LAKEWOOD ("Seller"), an Ohio municipal corporation and political <br />subdivision, for valuable consideration paid, grants, with limited warranty covenants, to <br />LAKEWOOD COMMUNITY SERVICES CENTER ("Buyer"), whose tax mailing address is <br />14230 Madison Avenue, Lakewood, Ohio 44107, the real property more fully described in the <br />legal description attached as Exhibit "A", which is incorporated herein by reference (the <br />"Property"). <br />The Property is conveyed subject to, and there are excepted from the limited warranty <br />covenants, the following: <br />1. All legal highways; <br />2. Zoning, building and other laws, ordinances, codes and regulations; <br />3. Easements, rights -of -way, conditions, covenants and restrictions of record; and, <br />4. Real estate taxes that are a lien on the Property, but not yet due and payable. <br />The Property is conveyed to Buyer subject to the following restrictive covenant, and Buyer <br />by its acceptance of this Deed agrees that: <br />1. In the event that Buyer sells the Property to a third party for an amount in excess of <br />$200,000, Seller shall be entitled to reimbursement of fifty percent (50%) of such <br />purchase price in excess of the sum of (a) $200,000 and (b) Buyer's carrying costs <br />and funds expended associated with the upkeep of the Property from the date of <br />recording of this Deed until the date the Property is transferred to a third party. <br />2. The preceding restrictive covenant (i) shall remain in effect for a period of five (5) <br />years from the date of this Deed, (ii) shall run with the land, (iii) shall be binding <br />upon Buyer and Buyer's successors and assigns and, (iv) shall inure to the benefit <br />of and be enforceable by actions at law or in equity by Seller or Seller's successors <br />in title or interest to all or any part of or interest in the Property; provided <br />commencing on the fifth (5) anniversary of the date of this Deed, this restrictive <br />covenant shall automatically cease and terminate and be of no further force and <br />effect without any further action by any of the parties. <br />(01430183-1) 13 <br />