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EI~TT G <br />RESTRICTIONS <br />Deeds of Trust, Easements, Covenants and Other Restrictions Encumbering the <br />Shopping Center <br />Title Exceptions <br />1. Ad valorem property taxes not yet due and payable. <br />2. Memorandum of Lease in favor of Subway Restaurants, Inc., recorded in Book 764 at page 190 of the <br />Orange County Registry. <br />3. Lease to Byrd Food Stores as recorded in Book 726 at page 256 of the Orange County Registry. <br />4. Easement in favor of Duke Power Company recorded in Book 782 at page 87 of the Orange County <br />Registry. <br />5. Such matters as would be shown by an accurate survey and inspection of the premises. <br />6. Fixture filings evidencing security interests of credits of various tenants. <br />7. Rights or claims of tenants in possession, as tenants only, under space leases in the Shopping Center, and <br />any and all exclusive use rights and restrictions set forth therein. <br />8. Zoning, subdivision, and land development ordinances, regulations, and laws, and any noncompliance of <br />the Shopping Center therewith. <br />9. A declaration of covenants, conditions, easements and restrictions (the "Declaration") which, among <br />other things, shall provide for the following: <br />a. Restrictions on use, prohibiting uses which would violate provisions of any existing leases of <br />space on improvements on the Shopping Center, and prohibiting uses of the Shopping Center and <br />the adjoining outpazcel to be retained by Landlord which would be inconsistent with a first class <br />retail shopping center. <br />b. Cross access and cross utility easements, and cross pazking easements, as between the Shopping <br />Center and the adjoining outpazcel to be retained by Landlord <br />10. Memorandum Of Lease in favor of Critics Choice, Inc., recorded in Book 834 at page 231 of the <br />Orange County Registry. <br />11. Lease to Wahnart recorded in Book 726 at Page 253 of the Orange County Registry. <br />44 <br />County of Orange, in North Carolina - Hillsborough Commons 07/02/08 <br />INITIALS <br />LORD C~9C~ "/ <br />