Skybrige Declaration

            WHEREAS, the name of the Condominium shall be the "Skybridge Condominium"; and

WHEREAS, the Declarant is further desirous of establishing for its own benefit and for the mutual benefit of all future owners or occupants of the Residential Property, as hereinafter defined, or any part thereof, certain easements and rights in, over and upon said Residential Property and certain mutually beneficial restrictions and obligations with respect to the proper use, conduct and maintenance thereof; and

WHEREAS, the Declarant desires and intends that the several owners, mortgagees, occupants, and other persons acquiring any interest in the Property shall at all times enjoy the benefits of, and shall at all times hold the interests subject to, the rights, easements, privileges, and restrictions hereinafter set forth, all of which are declared to be in furtherance of a plan to promote and protect the cooperative aspect of ownership and to facilitate the proper administration of such Property and are established for the purpose of enhancing and perfecting the value, desirability and attractiveness of the Property.

NOW THEREFORE, the Declarant, as the legal title holder of the Parcel, and for the purposes above set forth, DECLARES AS FOLLOWS:

ARTICLE I

DEFINITIONS

For the purpose of brevity and clarity, certain words and terms used in this Declaration are defined as follows:

1.01 Association. Skybridge Condominium Association, an Illinois not-for-profit corporation.

1.02 Board. The parties determined pursuant to Article V hereof, and who are vested with the authority and responsibility of administering the Property.

1.03 .Building The structure located on the parcel and the Garage, as such items are hereinafter defined, as shown by the Plat as hereinafter defined.

1.04 By-Laws. The provisions for the administration of the Property including, but not limited to, assessment, maintenance, use, occupancy, sale, leasing and alienation, all as hereinafter set forth, or as the same may be from time to time duly amended. Articles V, VI and VII hereof shall constitute the By-Laws of the Association.

1.05 Commercial Property. Commercial Property means collectively, the parcel of real property described as the Commercial Property in the Operating Agreement, as hereinafter defined, including all improvements, structures and fixtures, constructed or located therein or thereon, and all easements, rights and appurtenances belonging thereto. The Commercial Property is generally comprised of the lower level through the fifth floor of the Building, the Garage (excluding the

Condominium Parking Units), the public parking garage, the portion of the basement separated for the use of the Owner of the Commercial Property, the driveways, the sidewalks, and any rear loading areas, all as set forth on the Plat.

1.06      Common Elements. All portions of the Property except the Units, more specifically described in Section 3.01 hereof.

1.07    Common Expenses. The proposed or actual expenses affecting the Property, including reserves, if any, lawfully assessed by the Board, including, without limitation, the expenses of maintenance, repair, administration and operation of the Common Elements.

1.08      Declaration. This instrument by which the Property is submitted to the provisions of the Act, including such amendments, if any, to this instrument as may from time to time be adopted pursuant to the terms hereof.

1.09      Declarant. One North, L.L.C., an Illinois limited liability company, its successors and assigns.

1.10      Developer. One North, L.L.C., an Illinois limited liability company, its successors and assigns, or such other persons or entities, as the Declarant may from time to time designate.

1.11      Garage. The second (2nd) through fifth (5th) floors, both inclusive, of the Building designated for parking by Unit Owners and the public, all as set forth on the Plat.

1.12       Limited Common Elements. A portion of the Common Elements so designated in this Declaration or on the Plat, as hereinafter defined, as being reserved for the use of a certain Unit or Units to the exclusion of other Units. Any portion of the Common Elements which by the terms of this Declaration or by its nature or location is clearly intended to serve exclusively a certain Unit or Units (but less than all of the Units) or the owner or owners thereof shall be deemed a Limited Common Element.

1.13       Maintenance Fund. All monies collected to received by the Board pursuant to the provisions of the Declaration.

1.14       Majority of the Unit Owners. Those Unit Owners, without regard to their number, who own more than fifty percent (50%) in the aggregate of the entire undivided ownership interest in the Common Elements. Any specified percentage of the Unit Owners shall mean those Unit Owners who, in the aggregate, own such specified percentage of the entire undivided ownership interest in the Common Elements.

1.15        Occupant. Person or persons, other than a Unit Owner, in possession of a Unit.

1.16        Operating Agreement. Operating Agreement means that certain Declaration of Covenants, Conditions, Restrictions and Easements dated as of April 10, 2003 to be recorded
with the Recorder of Deeds of Cook County , Illinois . The Operating Agreement grants certain easements rights, duties and obligations among the Unit Owners and Occupants of the Residential Property ( as hereinafter defined) and the occupants and the Owner of the Commercial Property (as hereinafter defined), including the allocation of certain expenses which relate to the Residential Property as well as other portions of the Project.

1.17     Owner of the Commercial Property. Owner of the Commercial Property means, following the recording of the Declaration, the person or entity (or persons or entities if more than one (1)) at any time in question, holding fee simple title to the Commercial Property.

1.18   Parcel. The tract of real estate described on Exhibit "A" attached hereto, hereby submitted to the provisions of the Act.

1.19     Parking Area. The area in the Garage provided for parking automobiles as shown or referred to on the Plat, excluding the Commercial Property.

1.20      Parking Space. A portion of the Parking Area intended for the parking of a single vehicle (or two vehicles where indicated).

1.21      Person. A natural individual, corporation, partnership, trustee or other legal entity capable of holding title to real property.

1.22      Plat. The plats of survey of the Parcel and all of the Units in the Property submitted to the provisions of the Act, said Plat being attached hereto as Exhibit B and made a part hereof and recorded with the recording of this Declaration.

1.23       Property. All the property and space comprising the Parcel, all improvements and structures erected, constructed or contained therein or thereon including the Parking Spaces, the Building, and all easements, rights and appurtenances belonging thereto, and all fixtures and equipment intended for the mutual use, benefit or enjoyment of the Unit Owners, as hereinafter defined, submitted to the provisions of the Act, excluding the Commercial Property.

1.24    Real Estate. The Parcel or tract of real estate described on Exhibit "A" attached hereto, which real estate is hereby submitted to the provisions of the Act.

1.25       Residential Property. Residential Property means collectively, the parcel of real property described as the Residential Property in the Operating Agreement including all improvements, structures and fixtures, constructed or located therein or thereon, and all easements, rights and appurtenances belonging thereto, submitted to the Act, all as set forth on the Plat. The Residential Property is generally comprised of the sixth (6th) through the thirty-ninth (39th) floors, both inclusive, of the Building, the elevator lobby and entrance thereto and the second (2nd) through fourth (4th) floors, both inclusive, or portions thereof, of the Garage.

1.26       Reserves. Those sums paid by Unit Owners which are separately maintained by the Board for purposes specified by the Board, the Declaration or the Act.

1.27   Storage Area. The part of the Residential Property provided for storage purposes, if any.

1.28     Storage Space. A part of the Property within the Storage Area, if any, intended for storage and constituting part of the Common Elements and/or Limited Common Elements, as designated and assigned by the Association as described in Section 4.10 hereof.

1.29   Unit. A part of the Property within the Building including one (1) or more rooms, occupying one (1) or more floors or a part or parts thereof, or a part of the Property in the Garage consisting of a Parking Space, all as set forth on the Plat. Both the Parking Spaces and the portions of the Property within the Building are more specifically described hereafter in Article II.

1.30   Unit Owner. The person or persons whose estates or interests, individually or collectively, aggregate fee simple absolute ownership of a Unit Ownership.

1.31      Unit Ownership. A part of the Property consisting of one (1) Unit and its undivided interest in the Common Elements appurtenant thereto.

1.32      Voting Member. One (1) person with respect to each Unit Ownership who shall be entitled to vote at any meeting of the Unit Owners, excluding those members of the Board of Directors designated by the Developer or Declarant.