PURCHASE AGREEMENT FOR FEE SIMPLE UNDIVIDED INTEREST AND
ASSIGNMENT
OF
NET LEASE AGREEMENT
THIS ASSIGNMENT made and entered into this 28th day of
December, 1998, by and between AEI REAL ESTATE FUND XVIII
LIMITED PARTNERSHIP, a Minnesota Limited Partnership,
("Assignor") and AEI NET LEASE INCOME & GROWTH FUND XIX
LIMITED PARTNERSHIP, a Minnesota limited partnership,
("Assignee");
WITNESSETH, that:
WHEREAS, on the 28th day of December, 1998, Assignor
entered into Commitment, Net Lease Agreement, ("the
Agreements") for that certain property located at 0000 Xxxx
Xxxxx Xxxxxx, Xxxxxxxx, XX (the "Property") with Tumbleweed,
LLC, as Seller/Lessee; and
WHEREAS, Assignor desires to assign an undivided
interest of its rights, title and interest in, to and under
the Agreement and as to the fee simple interest in the
Leased Premises to the Assignees as hereinafter provided;
AEI NET LEASE INCOME & GROWTH FUND XIX
LIMITED PARTNERSHIP 60.00%
undivided interest as tenant in common
NOW, THEREFORE, for One Dollar ($1.00) and other good
and valuable consideration, receipt of which is hereby
acknowledged, it is hereby agreed between the parties as
follows:
1. Assignor maintains as tenant in common a forty
percent (40.00%) right, title and interest in, to and
under the Agreements and in the fee simple interest in
the Leased Premises, to have and to hold the same unto
its successors and assigns;
2. Assignor assigns all of its rights, title and
interest in, to and under the Agreements and in the fee
simple interest in the Leased Premises to the Assignee
as noted above, to have and to hold the same unto the
Assignee, its successors and assigns;
3. Assignee hereby assumes all rights, promises,
covenants, conditions and obligations under the
Agreements to be performed by the Assignor thereunder,
and agrees to be bound for all of the obligations of
Assignor under the Agreements from this day forward.
4. The Purchase Price paid by the Assignees
designated herein is equal to the prorata share of the
amounts funded as of the date of this Agreement.
All other terms and conditions of the Agreements shall
remain unchanged and continue in full force and effect.
AEI REAL ESTATE FUND XVIII LIMITED PARTNERSHIP
("Assignor")
BY: AEI FUND MANAGEMENT XVIII, INC.
By: /s/ Xxxxxx X Xxxxxxx
Xxxxxx X. Xxxxxxx, its President
AEI NET LEASE INCOME & GROWTH FUND XIX
LIMITED PARTNERSHIP ("Assignee")
BY: AEI FUND MANAGEMENT XIX, INC.
By: /s/ Xxxxxx X Xxxxxxx
Xxxxxx X. Xxxxxxx, its President