REAL ESTATE PURCHASE AND SALE AGREEMENT
This Real Estate Purchase and Sale Agreement (this
"Agreement"), dated December 17, 1997, is by and between AEI Real
Estate Fund 86-A Limited Partnership, a Delaware limited
partnership ("Seller"), and Atlantic Richfield Company, a
Delaware corporation ("Buyer").
RECITALS
A. Seller is the owner of the real estate (the "Realty")
in the County of Washoe, State of Nevada, described in Exhibit
"A" attached hereto.
B. The Realty and certain equipment located on the Realty
are subject to a Net Lease Agreement dated August 21, 1987,
between Seller, as landlord, and X. Xxxxx X'Xxxxx & Co., a Nevada
corporation ("Tenant"), as tenant. The Net Lease Agreement has
been amended by the Amendment to Net Lease Agreement dated August
27, 1987, between Seller and Tenant. (The Net Lease Agreement,
as so amended, will be referred to below as the "Lease.")
C. Seller is the lessee under the Multi-Use Commercial
Lease (Nevada State Department of Transportation) dated August
21, 1987 (the "Access Lease"), between the State of Nevada (the
"Access Landlord"), as lessor, and Seller. The Access Lease is
more particularly described in Exhibit "B" attached hereto. (The
lessee's interest under the Access Lease is referred to below as
the "Access Leasehold Interest.")
D. Concurrently with the execution of this Agreement,
Tenant and ARCO Products Company, a division of Buyer, intend to
execute a Business Purchase and Sale Agreement (the "Business
Agreement"). The Business Agreement covers ARCO Products
Company's purchase from Tenant of certain furnishings, fixtures,
equipment, inventory and supplies located at the Realty
(collectively, the "Business Property"). The Business Agreement
provides that the purchase and sale of the Business Property will
be consummated through an escrow (the "Business Escrow ") with
Western Title Company, 0000 Xxxxx XxXxxxxx Xxxx., Xxxxxxxx X,
Xxxxx 00, Xxxx, Xxxxxx 00000.
E. The Business Agreement also provides for the Tenant's
assigning its interest under the Lease to Buyer at the closing of
the Business Escrow.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the
parties agree as follows:
1. PURCHASE AND SALE. Subject to the terms herein, Seller
agrees to sell to Buyer, and Buyer agrees to purchase from
Seller, the Realty and the Access Leasehold Interest. (The
Realty and the Access Leasehold Interest are collectively
referred to below as the "Property.")
2. DEFINITION OF REALTY. For purposes of this Agreement,
the term "Realty" shall be deemed to include the real property
described on Exhibit "A" attached hereto, together with (a) all
equipment and other items affixed to such real property in such a
manner as to constitute fixtures that pass with title to such
real property and (b) those items of equipment that are leased by
Seller to Tenant under the Lease.
3. PURCHASE PRICE. The purchase price for the Property
shall be $961,030.23. The purchase price includes improvements,
benefits and appurtenances to the Realty. The conveyance of the
Realty shall be by Grant, Bargain, Sale Deed (the "Deed"), free
of encumbrances, except those accepted by Buyer in writing. The
assignment of the Access Leasehold Interest shall also be free of
encumbrances, except those accepted by Buyer in writing.
4. ESCROW. The escrow (the "Escrow") shall be with
Commonwealth Land Title Company, 000 X. 0xx Xxxxxx, Xxx Xxxxxxx,
Xxxxxxxxxx 00000, Attention: Xxx Xx Xxxxx, Escrow Officer
("Escrow Holder"). Following the execution of this Agreement by
Seller and Buyer, Buyer shall open the Escrow. Escrow shall be
deemed opened on the date that this Agreement is executed by
Escrow Holder. Buyer and Seller shall each pay one-half (1/2) of
the Escrow fee.
5. CONTINGENCIES TO CLOSING. Buyer shall not be
obligated to close until the following contingencies have been
satisfied or waived by Buyer:
A. ACQUISITION OF TENANT'S BUSINESS. The Business
Escrow is ready to close.
B. TITLE. Title to the Property to be conveyed
and assigned to Buyer is satisfactory to Buyer, and Commonwealth
Land Title Insurance Company (the "Title Company") is committed
to issue to Buyer an A.L.T.A. owner's extended coverage policy of
title insurance, insuring Buyer's title in a condition
satisfactory to Buyer.
C. ASSIGNMENT OF LANDLORD'S LEASE. Seller shall
have executed, acknowledged and delivered to Escrow Holder an
assignment (the "Landlord's Lease Assignment") to Buyer of
Seller's interest as lessor in and to the Lease. The Landlord's
Lease Assignment shall be in the form of Exhibit "C" attached
hereto. Escrow Holder shall record the Landlord's Lease
Assignment as part of the close of Escrow.
D. TERMINATION OF FINANCING STATEMENT. Seller shall
have executed and delivered to Escrow Holder a termination (the
"UCC-1 Termination") of the Financing Statement that was filed on
October 19, 1987, as Document No. 63786 in the Official Records
of Carson City, Nevada, which names Seller as the secured party
and Tenant as the debtor.
E. TERMINATION OF THE LEASE. Tenant shall have
executed, acknowledged and delivered to Escrow Holder an
assignment (the "Tenant's Lease Assignment") to Buyer of Tenant's
interest as lessee in and to the Lease, in the form required
under the Business Agreement. Escrow Holder shall record the
Tenant's Lease Assignment as a part of the close of Escrow.
F. ASSIGNMENT OR REPLACEMENT OF ACCESS LEASE. Seller
shall have delivered to Escrow Holder an assignment (the "Access
Lease Assignment") to Buyer of the Access Leasehold Interest,
duly executed and acknowledged by Seller and the Access Landlord;
or if required by Buyer, Buyer shall have entered into a new
lease with the Access Landlord covering the access area which is
the subject of the Access Lease (the "New Access Lease"). The
Access Lease Assignment shall be in the form of Exhibit "D"
attached hereto (with the blanks therein completed with the
appropriate information). If Buyer requires the New Access
Lease, the New Access Lease must be in form and substance
acceptable to Buyer, in its sole discretion. Additionally, if
Buyer requires the New Access Lease, it shall be a contingency
for Buyer's benefit that Buyer and the Access Landlord shall have
executed, acknowledged, and delivered to Escrow Holder a
memorandum of the New Access Lease for recording (the "Memorandum
of New Access Lease"). The Memorandum of New Access Lease must
be in form and substance acceptable to Buyer, in its sole
discretion. Escrow Holder shall record the Access Lease
Assignment or the Memorandum of the New Access Lease, as
applicable, as a part of the close of Escrow.
G. CONSENT TO LEASE ASSIGNMENT. If Buyer requires
the Access Lease Assignment, the Access Landlord shall have given
its unconditional written consent to the Access Lease Assignment.
H. DEPOSIT OF ACCESS LEASE. Seller shall have
delivered to Escrow Holder Seller's executed original of the
Access Lease.
I. SELLER'S OBLIGATIONS. Buyer is satisfied, in its
sole discretion, that Seller has fulfilled all of its obligations
under this Agreement that are to be performed before closing.
6. CLOSING. Closing shall occur simultaneously with the
closing of the Business Escrow, provided that the contingencies
set forth in Provision 5 above have all been satisfied or waived
by Buyer, or will be satisfied or waived by Buyer at closing, and
the parties have satisfied all of their obligations set forth in
this Agreement or will do so at closing.
7. FAILURE TO CLOSE. If for any reason other than
the default of Buyer, closing does not occur, Buyer may cancel
this Agreement and the Escrow, and Buyer shall be entitled to
receive back any payments placed into Escrow or paid to Seller.
Buyer shall not be obligated to litigate to satisfy any of the
contingencies set forth in Provision 5 above. Seller shall not
be obligated to clear any matters affecting title to the Realty,
except for (i) termination of the Financing Statement that is the
subject of the UCC-1 Termination, and (ii) any monetary
encumbrances that Seller has placed on title.
8. TITLE INSURANCE COSTS. Title insurance shall be
paid by Seller.
9. PRORATIONS; COSTS. Items of expense (including
taxes) and income pertaining to the Property shall be prorated to
the date of closing. Taxes shall be prorated based on the latest
available tax statements. If not previously paid, Escrow Holder
shall pay to the appropriate taxing authority the semi-annual
installment of the current fiscal year's taxes applicable to the
six (6) month period during which the closing occurs, whether or
not then due. Any credits or additional taxes imposed after
closing shall be applied to Buyer's account outside of Escrow.
For purposes of this Agreement, closing shall be the date that
the Deed and the documents contemplated by Provisions 5.C through
F above are accepted by the County Recorder's Office for
recording or filing, as applicable. Buyer shall pay the cost of
recording and filing the documents described in the immediately
preceding sentence. Seller shall pay real estate transfer taxes.
Assessments, including but not limited to public improvements,
and all monetary liens, whether private or governmental, shall be
extinguished, at Seller's expense, by Escrow Holder at closing,
except real estate taxes not yet payable, which shall be prorated
as aforesaid. All prorations shall be based on a thirty (30) day
month.
10. TITLE AND POSSESSION. Title and vacant
possession shall pass at closing.
11. SELLER'S REPRESENTATIONS AND COVENANTS.
A. REPRESENTATIONS AND WARRANTIES. Seller makes the
following representations and warranties to Buyer as of the date
of this Agreement and as of the close of Escrow.
(1) LEGAL PARCEL. To the best of Seller's
knowledge, the Realty constitutes a legal parcel that has been
subdivided in compliance with all applicable laws, ordinances,
and other requirements of the State of Nevada and local
governmental authorities.
(2) CORPORATE EXISTENCE. Seller is a limited
partnership duly organized, validly existing and in good standing
under the laws of the State of Delaware. The persons signing on
behalf of Seller have the full right, power and authority to bind
Seller under this Agreement, and the transactions contemplated by
this Agreement have been duly authorized by all necessary
partnership action of Seller and all necessary corporate action
of Seller's sole general partner.
(3) LEGALITY OF CONTRACT. Neither the execution
and delivery of this Agreement by Seller, nor Seller's incurring
of the obligations set forth herein, nor the consummation of the
transactions contemplated herein, nor Seller's compliance with
the terms of this Agreement will (a) conflict with or result in a
breach of any of the terms, conditions or provisions of, or
constitute a default (or an event which, with the giving of
notice or the passage of time, would constitute a default) under,
any law, regulation, ordinance, judgment, order or decree to
which Seller or the Property is subject, or any contract,
agreement or instrument to which Seller is a party or by which
Seller or the Property may be bound, or (b) require the consent
or approval of any governmental entity or other third party,
except for the consent of the Access Landlord.
(4) NO LITIGATION. To the best of Seller's
knowledge, there is no litigation, condemnation or administrative
enforcement proceeding pending or threatened against or
concerning the Property, nor any litigation or other legal
proceedings pending or threatened against Seller that might, if
successful, interfere with the consummation of the transactions
contemplated herein.
(5) ENVIRONMENTAL CONDITION. To the best of
Seller's knowledge, the Realty, the real property leased under
the Access Lease (the "Access Area"), and the operation of the
Realty and the Access Area are in compliance with all federal,
state and local laws relating to the use, disposal, storage and
release of hazardous or toxic materials; and no such materials
exist on, in or under any portions of the Realty or the Access
Area.
(6) AUTHENTICITY OF DOCUMENTS. Seller has
delivered to Buyer true and complete copies of the Lease and the
Access Lease. Neither the Lease nor the Access Lease has been
amended or modified prior to the date of this Agreement, except
as described in this Agreement; and neither of these agreements
shall be amended or modified prior to the close of Escrow.
(7) RIGHT OF POSSESSION. To the best of
Seller's knowledge, other than the Lease and the Access Lease,
there are no leases, options to convey or other rights of
possession affecting the Realty or the Access Area.
(8) NO DEFAULT. Seller is not in default under
the Lease or the Access Lease; and Seller shall remain in
compliance thereunder until the close of Escrow.
(9) ACCESS LANDLORD'S CONSENT. Seller shall use
its best efforts to obtain the consent of the Access Landlord to
the Access Lease Assignment (to be evidenced by the execution and
acknowledgment of the Access Lease Assignment by the Access
Landlord), and to deliver the same to Buyer prior to the close of
Escrow.
(10) OWNERSHIP OF ACCESS LEASEHOLD. Seller has,
and at the close of Escrow shall assign to Buyer, good and
marketable title to the Access Leasehold Interest, free and clear
of any and all liabilities, liens, encumbrances, security
interests, leases, contracts and claims, except for the claim of
Tenant under the Lease.
B. SELLER'S KNOWLEDGE. Where any of these
representations and warranties are stated to be "to the best of
Seller's knowledge," such limitation shall mean that such
representations and warranties are made without independent
investigation of the matters stated therein and are based solely
on the current, actual knowledge of Seller's employees, agents
and consultants. Buyer understands that Seller is not actively
engaged in the operation, management and/or marketing of the
Realty as of the date of this Agreement.
C. NO OTHER REPRESENTATIONS AND WARRANTIES. Except
as expressly set forth in this Provision 11, Seller makes no
representations or warranties of any kind, express or implied,
written or oral, as to the physical condition of the Realty; the
uses of the Realty or any limitations thereon, including without
limitation zoning, environmental or other laws, regulations or
governmental requirements; the utilities or other physical
equipment or fixtures on the Realty; the condition of the soils
or groundwaters of the Realty; the presence or absence of toxic
materials or hazardous substances on or under the Realty; or any
other matter bearing on the use, value or condition of the
Realty. Buyer specifically acknowledges that it is acquiring the
Realty in an "as is" condition, in reliance upon its own
inspection and investigation of the Realty, but subject to the
truth, completeness and accuracy of Seller's representations and
warranties made above in this Provision 11.
D. EFFECT OF THE LEASE. Buyer acknowledges that if
Buyer waives the contingency set forth in Provision 5.A and
proceeds to close the Escrow under this Agreement without closing
the Business Escrow, Buyer will be acquiring the Realty subject
to Tenant's interest under the Lease.
12. NOTICES. Notices relating to this transaction
shall be in writing and shall be deemed given when personally
delivered, or when deposited with the U.S. Postal Service,
certified mail, postage prepaid or when deposited with a common
carrier, freight prepaid, addressed as provided below or in
accordance with subsequently provided written instructions, or
when sent by electronic facsimile. Notices to Seller shall be
sent to:
AEI Real Estate Fund 86-A Limited Partnership
c/o AEI Fund Management, Inc.
1300 Minnesota World Trade Center
00 Xxxx Xxxxxxx Xxxxxx
Xx. Xxxx, XX 00000
Facsimile: (000) 000-0000
and to Buyer at:
Atlantic Richfield Company
0 Xxxxxxxxxxxx Xxxxx
Xx Xxxxx, XX 00000
Attn: X. X. Xxxxxx
Assistant Vice President
Facsimile: (000) 000-0000
13. ESCROW INSTRUCTIONS. This Agreement shall also
constitute Escrow instructions.
14. CONDEMNATION. In the event of issuance, before
closing, of notice of a partial or total condemnation of the
Property, Buyer may cancel this Agreement and the Escrow. In
such case, Buyer shall be entitled to receive back any payments
placed into Escrow or paid to Seller. If, however, Buyer
nevertheless decides to close, Buyer shall notify Seller, and
Seller shall execute an assignment in a form acceptable to Buyer,
assigning to Buyer Seller's rights to all compensation on account
of such condemnation. Such assignment shall be delivered to
Buyer through Escrow at closing. For purposes of this provision,
"condemnation" includes rights of inverse condemnation.
15. ENTIRE AGREEMENT; AMENDMENTS. This Agreement
and the Exhibit(s) hereto contain the whole agreement of the
parties with respect to the subject matter hereof. There are no
understandings except as provided herein. Any oral promise or
inducement is void. No amendment can be made to this Agreement
except in a writing executed by the parties hereto and delivered
to Escrow Holder.
16. NO MERGER. The representations, warranties,
covenants and disclaimers shall not merge but shall survive
closing hereunder.
17. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT.
Buyer shall comply with the Foreign Investment In Real Property
Tax Act (the "Act") by either:
A. WITHHOLDING FUNDS. If Seller is a foreign
person or entity, as defined in the Act, withholding at closing
ten percent (10%) of the Provision 3 purchase price and
transmitting such withheld sum in accordance with law; or
B. AFFIDAVIT. Obtaining an affidavit from
Seller that Seller is not a foreign person or entity and
obtaining Seller's taxpayer identification number; or
C. OTHER PROOF. Obtaining proof of other
exemption from the Act.
18. FURTHER ASSURANCES. Each of the parties hereto shall,
without further consideration, execute and deliver such other
documents and take such other actions as may reasonably be
requested by the other party hereto in order to effectuate the
provisions of this Agreement, including the transfer of title to
the Property to Buyer.
19. SUCCESSORS AND ASSIGNS. The rights and obligations of
Buyer and Seller shall continue to the benefit of, and be binding
upon, their respective successors and assigns.
20. SELLER'S AUTHORITY. Within ten (10) days after
Seller's execution and delivery of this Agreement, Seller shall
provide Buyer with a copy of its governing documents (for
example, Articles of Incorporation, By-Laws, Agreement of
Partnership, Limited Liability Company Operating Agreement, or
Declaration of Trust), authorizing action (for example,
corporate resolutions, consent of partners, or consent of
members), and any other documents necessary to enable Buyer and
the Title Company to ascertain that the individual signing this
Agreement on behalf of Seller is authorized to legally bind
Seller.
21. BUSINESS AGREEMENT. Buyer shall have the right to
terminate this Agreement and the Escrow, if Buyer and Tenant do
not enter into the Business Agreement or if, after they enter
into the Business Agreement, the Business Agreement is terminated
by Buyer or Tenant for any reason. If Buyer so terminates this
Agreement, Buyer shall be entitled to receive back any payments
placed into Escrow or paid to Seller.
IN WITNESS WHEREOF, the parties have duly executed this
Agreement as of the date first set forth above.
SELLER:
AEI REAL ESTATE FUND 86-A
LIMITED PARTNERSHIP,
a Delaware limited partnership
By: AEI FUND MANAGEMENT 86-A, INC.,
a Minnesota corporation,
its corporate general partner
By:/s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxxxx, President
Printed Name and Title
Seller's Tax I.D.
#41-623958
Seller's Telephone #(000) 000-0000
BUYER:
ATLANTIC RICHFIELD COMPANY,
a Delaware corporation
By: /s/ X.X. Xxxxxx
X. X. Xxxxxx
Assistant Vice President
Received and acknowledged this 30th
day of January, 1997.
Commonwealth Land Title Company
By: /s/ Xxx X Xxxxxx
Xxx X. Xxxxxx
Printed Name and Title
LEGAL DESCRIPTION OF THE REALTY
The Realty comprises all of that real property located at the
xxxxxxxxx xxxxxx xx Xxxxx Xxxxxx Xxxxxx and West Clearview Drive
that is commonly known as 0000 Xxxxx Xxxxxx, xx Xxxxxx Xxxx,
Xxxxxx of Washoe, State of Nevada, containing approximately
41,000 square feet with approximately 234 feet of frontage on
West Clearview Drive, and approximately 173 feet of frontage on
Xxxxx Xxxxxx Xxxxxx. The Realty is legally described as follows:
All that certain piece or parcel of land situate in Carson City,
Nevada, being a portion of the East 1/2 of the Southeast 1/4 of
Section 30, Township 15 North, Range 20 East, M.D.B. & M. that is
described as Parcel 4 as shown on Parcel Map No. 1341, filed in
the office of the Recorder of Carson City, Nevada on December 18,
1986 as File No. 52865, together with perpetual non-exclusive
easements for access, drainage and public utility purposes over
and across the real property situate in Xxxxxx City, State of
Nevada, described as follows:
The West 15 feet of parcels 2 and 3 of Parcel Map No. 1341, filed
in the office of the Recorder of Carson City, Nevada, on December
18, 1986, as File No. 52865, and;
The North 15 feet of Parcel 2 of Parcel Map No. 1341, filed in
the office of the Recorder of Carson City, Nevada, on December
18, 1986, as File No. 52865, and;
The South 15 feet of Parcel 3 of Parcel Map No. 1341, filed in
the office of the Recorder of Carson City, Nevada, on December
18, 1986, as File No. 52865, and;
The East 15 feet of Parcels 1-A, 1-B and 1-C, and the South 15
feet of Parcel 1-D of Parcel Map No. 1475, filed in the office of
the Recorder of Carson City, Nevada, on June 25, 1987, as File
No. 59824, excepting from said Parcel 1-C that portion lying
Northerly of the Westerly extension of the Northerly line of the
Southerly 15 feet of said Parcel 1-D.
EXHIBIT A
DESCRIPTION OF ACCESS LEASE
That certain Multi-Use Commercial Lease (Nevada State Department
of Transportation) dated August 21, 1987, being Highway Agreement
No. R296-87-030, which Highway Agreement describes that certain
parcel known as Parcel No. U-395-CC-007.891 of the records of the
Nevada State Department of Transportation.
EXHIBIT B
FORM OF ASSIGNMENT OF LANDLORD'S LEASE INTEREST
Order No.:
Escrow No.:
AFTER RECORDING, RETURN TO:
ARCO Products Company
4 Centerpointe Drive, LPR 0-000
Xx Xxxxx, Xxxxxxxxxx 00000-0000
Attn:Xxxxxxx X Xxxxxx, Real Estate FOR RECORDER'S USE
Department
Site No. 06379
ASSIGNMENT OF LANDLORD'S LEASE INTEREST
This Assignment of Landlord's Lease Interest (this
"Assignment") dated February 17, 1998, is entered into by
AEI Real Estate Fund 86A Limited Partnership, a Delaware
limited partnership ("Seller"), and Atlantic Richfield
Company, a Delaware corporation ("Buyer").
RECITALS
A. Seller is the landlord under a Net Lease Agreement dated
August 21, 1987, with X. Xxxxx X'Xxxxx & Co., a Nevada corporation,
as tenant ("TENANT") which has been amended by the Amendment to Net
Lease Agreement dated August 27, 1987 between seller and Tenant.
(The Net Lease Agreement, as so amended, will be referred to
below as the "LEASE". The interest of the landlord under the
Lease is referred to below as the "LEASE INTEREST."
B. The Lease covers the real property in Carson City,
Nevada that is described in Exhibit "A" attached hereto
(the "REALTY"), together with certain improvements and
equipment described in the Lease.
C. The Lease was made a matter of public record by the
Memorandum of Lease recorded on September 17, 1987 , as Document
No. 62750 in the Official Records of Carson City, Nevada.
D. In connection with the signing of this Assignment,
Seller will convey the Realty to Buyer.
E. By this Assignment, Seller and Buyer wish to effect the
assignment and assumption of the Lease Interest.
AGREEMENT
THEREFORE, Seller and Buyer agree as follows:
1. EFFECTIVE TIME. This Assignment will become effective
when it is recorded in the Official Records of the Carson City,
Nevada (the "EFFECTIVE TIME").
2. ASSIGNMENT. Seller assigns to Buyer all the right,
title, and interest in and to the Lease Interest. The assigned
rights include, without limitation, the balance at the Effective
Time of all deposits that Tenant has paid to Seller under the
terms of the Lease.
3. ASSUMPTION. Buyer accepts the assignment from Seller.
Buyer shall perform the obligations that the landlord under the
Lease is required to perform after the Effective Time.
4. INDEMNIFICATION.
(a) Seller shall indemnify and defend Buyer against
all claims, liabilities, losses, damages, obligations, costs, and
expenses (including without limitation reasonable attorneys'
fees) that relate to the Lease Interest and arise from any event
that occurred, or any obligation that accrued, before the Effective Time.
(b) Buyer shall indemnify and defend Seller against
all claims, liabilities, losses, damages, obligations, costs, and
expenses (including without limitation reasonable attorneys'
fees) that relate to the Lease Interest and arise from any event
that occurs, or any obligation that accrues, after the Effective
Time.
5. GOVERNING LAW. This Assignment is governed by the laws
of the State of Nevada, without regard to conflict-of-law
principles.
6. SUCCESSORS. This Assignment is binding on the
successors in interest of each party.
7. FURTHER ACTS. Each party shall do all things that the
other party reasonably requests to carry out the purpose of this
Assignment.
8. COUNTERPARTS. This Assignment may be signed by the
parties in counterparts. The signature pages from the
counterparts may be attached to one counterpart, and that
counterpart may be recorded.
SELLER: BUYER:
AEI REAL ESTATE FUND 86-A ATLANTIC RICHFIELD COMPANY,
LIMITED PARTNERSHIP a Delaware corporation
a Delaware limited partnership
By: AEI FUND MANAGEMENT 86-A, INC., By: /s/ XX Xxxxxx
a Minnesota corporation, its X.X. Xxxxxx
corporate general partner Assistant Vice President
BY: /s/ Xxxxxx X Xxxxxxx Attest: /s/ Xxxxxx X Xxxx
Xxxxxx X Xxxx
Xxxxxx X Xxxxxxx, Pres Assistant Secretary
Printed Name and Title
(ATTACH NOTARY ACKNOWLEDGMENTS)
EXHIBIT "A"
All that certain piece or parcel of land situate in Carson City,
Nevada being a portion of the East 1/2 of Southeast 1/4 of Section 30
Township 15 North Range 20 East, M.D.B.&M. that is described as follows:
Parcel 4 as shown on Parcel Map NO. 1341, filed in the office
of the Recorder of Carson City, Nevada on December 18, 1986
as filed No. 52865.
Together with all right, title and interest of the Lessee in and
to that certain Multi-Use Commecial Lease (Nevada State Department of
Transportation) dated August 21, 1987, being Highway Agreement No.
R62-87-030, which Highway Agreement describes that certain parcel known
as Parcel No. U-395-CC-007.891 of the records of the Nevada State
Department of Transportation.
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
County of Orange
On February 11, 1998 before me, Xxxxx Xxxxx Xxxxxx, Nortary Public
personally appeared X. X. Xxxxxx and Xxxxxx X. Xxxx
Personally known to me to be the person(s)
whose name(s) are subscribed to the within
[notary seal] instrument and acknowledged to me that they
executed the same in their authorized
capacity(ies), and that by their signature(s)
on the instrument the person(s), or the entity
upon behalf of which the person(s) acted,
executed the instruments.
WITNESS my hand and official seal.
/s/ Xxxxx Xxxxx Xxxxxx
Signature of Notary
OPTIONAL
Though the data is not required by law, it may prove valuable to
persons relying on the document and could prevent fraudulent
reattachment of this form
[ ] INDIVIDUAL
[X] CORPORATE OFFICE
Assignment of Landlord's
Assistant Vice President and Assistant Secretary Lease Interest SS# 6379
TITLE OR TYPE OF DOCUMENTS
[ ] PARTNER(S) [ ] LIMITED
[ ] GENERAL 3
[ ] ATTORNEY-IN-FACT NUMBER OF PAGES
[ ] TRUSTEE(S)
[ ] GUARDIAN/CONSERVATOR 2/11/98
[ ] OTHER: DATE OF DOCUMENTS
SIGNER IS REPRESENTING: SIGNER(S) OTHER THAN NAMED
NAME OF PERSON(S) OR ENTITY(IES) ABOVE
ARCO PRODUCTS COMPANY
STATE OF MINNESOTA )
)SS
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 17th day
of February 1998, by Xxxxxx X Xxxxxxx, the President of AEI Fund
Management 86-A, Inc,. a Minnesota corporation, corporate general
partner of AEI Real Estate Fund 86-A Limited Partnership, on behalf
of said limited partnership.
/s/ Xxxxx Xxxxx Notary Public
[notary seal]
