FIRST AMENDMENT TO NET LEASE AGREEMENT
THIS AMENDMENT TO NET LEASE AGREEMENT, made and entered into
effective as of the 13th day of January, 2004, by and
between Champps Operating Corporation ("Lessee"), whose
address is 00000 Xxxx Xxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxx,
XX 00000-0000, and AEI Net Lease Income & Growth Fund XX
Limited Partnership and AEI Income & Growth Fund XXII
Limited Partnership, ("AEI or "Lessor"), whose address is
Xxxxx 0000, Xxxxx Xxxxx Xxxxx, Xxxxx Xxxx, Xxxxxxxxx 00000.
WITNESSETH:
WHEREAS, Lessor is the fee owner of a certain parcel of
real property and improvements located at Cincinnati, Ohio,
and legaly described in Exhibit "A", which is attached
hereto and incorporated herein by reference; and
WHEREAS, Lessee has constructed the building and
improvements (together the "Building") on the real property
described in Exhibit "A", which Building is described in the
plans and specifications heretofore submitted to Lessor; and
WHEREAS, Lesee and Lessor have entered into that
certain Net Lease Agreement dated December 6, 2002
(the"Lease") providing for the lease of said real property
and Building (said real property and building hereinafter
referred to as the "leased Premises"), from Lessor upon the
terms and conditions therein provided in the Lease;
NOW, THEREFORE, inconsideration of the Rents, terms,
covenants, conditions, and agreements hereinafter described
to be paid, kept, and performed by Lessee, including the
completion of the Building and other improvements
constituting the Leased Premises, Lessee and Lessor do
hereby agree to amend the Lease as follows:
1. Article 2(A) and (B) of the Lease shall henceforth read
as follows:
ARTICLE 2. TERM
(A) The term of this Lease ("Term") shall be Twenty (20)
consecutive "Lease Years", as hereinafter defined,
plus the period commencing on the initial effective
date of the Lease ("Occupancy Date"), with the
contemplated initial term hereof ending on January
31, 2004.
(B) The first full Lease Year shall commence on the date
of this First Amendment and continue through January
31, 2005.
2. Article 4(A) of the Lease shall henceforth read as
follows:
ARTICLE 4. RENT PAYMENTS
(A) Annual Rent Payable for the first, second, and third
Lease Years: Lessee shall pay to Lessor an annual
Base Rent of $320,000.00, which amount shall be
payable in advance on the first day of each month in
equal monthly installments of $13,333.34 to Lessor
Fund XXII, and $13,333.34 to Lessor Fund XX. If the
first day of the Lease Term is not the first day of
the calendar month, then the monthly Rent payable for
that partial month shall be a prorated portion of the
equal monthly installment of Base Rent.
3. Article 35 is hereby deleted in its entirety; Lessor
and Lessee agree that the referenced Development Financing
Agreement is terminated in accordance with its terms. All
other terms and conditions of the Lease shall remain in
full force and effect.
4. Lessee has accepted delivery of the Leased Premises and
has entered into occupancy thereof;
5. Lesse has fully inspected the Premises and found the
same to be as required by the Lease, in good order and
repair, and all conditions under the Lease to be performed
by the Lessor have been satisfied.
6. As of this date, the Lessor is not in default under any
of the terms, conditions, provisions or agreements of the
Lease and the undersigned has no offsets, claims or defenses
against the Lessor with respect to the Lease.
7. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original and
all of which shall constitute one and the same instrument.
IN WITNESS WHEREOF, Lessor and Lessee have respectively
signed and sealed this Lease as of the day and year first
above written.
LESSEE: CHAMPPS OPERATING CORPORATION
By: /s/ Xxxxx Xxxxxxx
Its: Secretary & VP
STATE OF COLORADO )
)SS.
COUNTY OF XXXXXXX )
The foregoing instrument was acknowledged before me
this 9th day of January, 2002, by Xxxxx X Xxxxxxx, as Vice
President & Secretary of Champps Operating Corp. on behalf
of said corporation.
/s/ Xxxxxx X Xxxxx
Notary Public
(notary seal)
Remainder of Page Intentionally :Left Blank
AEI NET LEASE INCOME & GROWTH FUND XX
LIMITED PARTNERSHIP, a Minnesota limited
partnership
By: AEI FUND MANAGEMENT XX, INC., a Minnesota
corporation
By: /s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxxxx, President
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me on
the 13th day of January, 2004, by Xxxxxx X Xxxxxxx, the
President of AEI Fund Management XX, Inc. a Minnesota
corporation, corporate general partner of AEI Net Lease
Income & Growth Fund XX Limited Partnership, on behalf of
said limited partnership.
(notary seal) /s/ Xxxxxxx X Xxxxxxxxx
Notary Public
AEI NET LEASE INCOME & GROWTH FUND XXII
LIMITED PARTNERSHIP, a Minnesota limited
partnership
By: AEI FUND MANAGEMENT XXI, INC., a
Minnesota corporation
By: /s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxxxx, President
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me on
the 13th day of January, 2004, by Xxxxxx X Xxxxxxx, the
President of AEI Fund Management XXI, Inc. a Minnesota
corporation, corporate general partner of AEI Net Lease
Income & Growth Fund XXII Limited Partnership, on behalf of
said limited partnership.
(notary seal) /s/ Xxxxxxx X Xxxxxxxxx
Notary Public
EXHIBIT A
LEGAL DESCRIPTION
2.009 ACRES
Situated in the State of Ohio, County of Xxxxxx,
Township of West Xxxxxxx, located in Section 27, Township 2,
Range 2, between the Miami Rivers and being out of that
98.914 acre tract as conveyed to Cincinnati Specialty
Center. LLC by deed of record in Official Record 6694, Page
273 (all references refer to the records of the Recorder's
Office, Xxxxxx County, Ohio) and more particularly bounded
and described as follows:
Beginning, for reference, at a mag nail set in the
centerline of Xxxxx Road at the common corner of Section 26,
27, 32 and 33, being the southwesterly corner of said 98.914
acre tract, and being the southeasterly corner of Parcel II
as conveyed to Beaver Creek partners, LLC by deed of record
in Official Record 6359, Page 924;
Thence North 05 06 53" East, with the common line
between Sections 27 and 33, being the easterly line of said
Parcel II and the easterly line of Parcel I of said Beaver
Creek Partners, being the westerly line of 98.914 acre
trace, a distance of 2133.10 feet to an iron pin set in the
easterly right-of-way line of Interstate 75, being the
easterly line of that 12.719 acre tract as conveyed to the
Xxxxxx County Transpsortation Improvement District of record
in Official Record 6109, Page 2259;
Thence with said right-of-line, the easterly line of
said 12.719 acre tract, the following courses and distances:
North 58 09' 07" East, a distance of 338.02 feet to an
iron pin set;
North 67 42' 19" East, a distance of 385.01 feet to an
iron pin set;
North 60 16' 29" East, a distance of 260.77 feet to an
iron pin set; and
North 49 22' 25" East, a distance of 183.83 feet to an
iron pin set at the True Point of Beginning:
Thence North 49 22' 25" East, continuing with said
right-of-way line, a distance of 203.35 feet to an iron pin
set in the southerly right-of-way line of Union Centre
Boulevard;
Thence South 62 38' 01" East, with said southerly right-
of-way line, being the southerly line of said 12.719 acre
tract, a distance of 119.75 feet to an iron pin set;
Thence across said 98.914 acre tract, the following
courses and distances:
South 27 12' 29" West, a distance of 38.32 feet to an
iron pin set:
South 02 57' 36" East, a distance of 328.65 feet to an
iron pin set on the arc of a curve to the right;
Southwesterly with the arc of said curve (Delta 06 23'
30", Radius = 344.41 feet) a chord bearing and distance of
South 88 48' 20" West, 38.40 feet to an iron pin set at a
point of reverse curvature;
Southwesterly with the arc of said curve (Delta 08 12'
24", Radius= 322.64 feet) a chord bearing and distance of
South 87 53' 53" West, 46.17 feet to an iron pin set a point
of tangency;
South 83 47' 41" West, a distance of 44.33 feet to an
iron pin set at a point of curvature of a curve to the left;
Southwesterly with the arc of said curve (Delta = 07
12' 10", Radius = 630.00 feet) a chord bearing and distance
of South 80 11' 30" West, 79.15 feet to an iron pin set;
North 12 56' 43" West, a distance of 83.81 feet to an
iron pin set: and
North 08 58' 42" West, a distance of 227.71 feet to the
True Point of Beginning, containing 2.009 acres of land,
more or less.
Subject, however, to all legal rights-of-way and/or
easements, if any, of previous record.
Iron pins set, where indicated, are iron pipes,
thirteen sixteenths (13/16) inch inside diameter, thirty
(30) inches long with a plastic plug placed in the top
bearing the initials EMHT INC.
The bearing herein, are based on the same meridian as
the bearing shown on the centerline survey for BUT-75-2.414,
in which the centerline of Interstate 75 has a bearing of
North 40 17' 00" Xxxx.
XXXXX, XXXXXXXX, XXXXXXXXX & XXXXXX, INC.
/s/ Xxxxx X Xxxxx 10/24/02
