FIRST AMENDMENT TO NET LEASE AGREEMENT
THIS AMENDMENT TO NET LEASE AGREEMENT, made and entered into effective
as of the 23 day of December, 1997, by and between AEI INCOME & GROWTH FUND XXI
LIMITED PARTNERSHIP (hereinafter, "Fund XXI"), a Minnesota limited partnership
whose corporate general partner is AEI Fund Management XXI, Inc., a Minnesota
corporation, whose principal business address is 1300 Minnesota World Trade
Center, 00 Xxxx Xxxxxxx Xxxxxx, Xx. Xxxx, Xxxxxxxxx 00000 ("Lessor"), and
Champps Entertainment of Texas, Inc., a Texas corporation ("Lessee"), whose
principal business address is One Corporate Place, 00 Xxxxxxxxx
Xxxx, Xxxxxxx, Xx. 00000;
WITNESSETH:
WHEREAS, Lessor is the fee owner of a certain parcel of real property and
improvements located at Xxxxxxx Oaks, San Antonio, Texas, and legally 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, Lessee and Lessor have entered into that certain Net Lease
Agreement dated March 14, 1997 (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, in consideration 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, commencing on March 14, 1997
("Occupancy Date"), plus the period ending December 31, 1997, with the
contemplated initial term hereof ending on December 31, 2017.
(B) The first full Lease Year shall commence on the date of this
First Amendment and continue through December 31, 1998.
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 $296,022.75,
which amount shall be payable in advance on the first day of each
month in equal monthly installments of $24,668.56 to Fund XXI. If
the first day of the Lease Term is not the first day of a 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. Lessee 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 ENTERTAINMENT OF TEXAS, INC.
By: /s/ Xxxxxxx X Xxxxxxxxxxx
Its: Sr VP
STATE OF Massachusetts )
)SS.
COUNTY OF Essex )
The foregoing instrument was acknowledged before me this 17th day
of December, 1997, by Xxxxxxx X Xxxxxxxxxxx as Sr VP of Champps
Entertainment of Texas, Inc. on behalf of said corporation.
/s/ Xxxxxx Xxxxxxxxxx
Notary Public
Remainder of page intentionally left blank
LESSOR: AEI INCOME & GROWTH FUND XXI
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 the 23 day
of December, 1997, by Xxxxxx X. Xxxxxxx, the President of AEI Fund
Management XXI, Inc., a Minnesota corporation, corporate general
partner of AEI Income & Growth Fund XXI Limited Partnership,
on behalf of said limited partnership.
Notary Public
/s/ Xxxxxxx X Xxxxxxxxx
[notary seal]
