FIRST AMENDMENT TO NET LEASE AGREEMENT
THIS AMENDMENT TO NET LEASE AGREEMENT, made and entered
into effective as of the 31st day of August, 1999, by and between
AEI Income & Growth Fund XXII Limited Partnership, a Minnesota
limited partnership whose corporate general partner is AEI Fund
Management XXI, Inc., a Minnesota corporation ("Fund XXII"),
whose principal business address is 1300 Minnesota World Trade
Center, 00 Xxxx Xxxxxxx Xxxxxx, Xx. Xxxx, Xxxxxxxxx 00000
(hereinafter referred to as "Lessor"), and Tumbleweed, Inc., a
Delaware corporation and successor by merger to Tumbleweed, LLC.,
a Kentucky limited liability company (hereinafter referred to as
"Lessee"), whose principal business address is 0000 Xxxxxxxx
Xxxxxx, Xxxxxxxxxx, Xxxxxxxx;
WITNESSETH:
WHEREAS, Lessor is the fee owner of a certain parcel of real
property and improvements located at Fort Xxxxx, 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 November 25, 1998 (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 Fifteen (15)
consecutive "Lease Years", as hereinafter defined, commencing as
of the date hereof, plus the period commencing November 25, 1998
("Occupancy Date") through August 31, 1999, with the contemplated
initial term hereof ending on August 31, 2014.
(B) The first full Lease Year shall commence on the date of
this First Amendment and continue through August 31, 2000.
2. Article 4(A) of the Lease shall henceforth read as follows:
ARTICLE 4. RENT PAYMENTS
(A) Annual Rent Payable for the first Lease Year:
Lessee shall pay to Lessor an annual Base Rent of $130,941.29,
which amount shall be payable in advance on the first day of each
month in equal monthly installments of $10,911.77 to Lessor 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 34 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: Tumbleweed, Inc.,
By: /s/ Xxxxxxx X Xxxxxxx
Its: VP/ Secretary
STATE OF KENTUCKY )
)SS.
COUNTY OF JEFFERSON)
The foregoing instrument was acknowledged before me this
30th day of August, 1999, by Xxxxxxx X Xxxxxxx, as VP/Secretary
of Tumbleweed, Inc., on behalf of said corporation.
/s/ Xxxx Xxxxxx Xxxx
Notary Public /s/commission expires 4-27-2003
[Remainder of page intentionally left blank]
LESSOR:
AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP
By: AEI Fund Management XXI, Inc.
By:/s/ Xxxxxx X Xxxxxxx
Xxxxxx X. Xxxxxxx, President
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 31st
day of August, 1999, by Xxxxxx X. Xxxxxxx, the President of AEI
Fund Management XXI, Inc., a Minnesota corporation, corporate
general partner of AEI Income & Growth Fund XXII Limited
Partnership, on behalf of said limited partnership.
/s/ Xxxxxxx X Xxxxxxxx
Notary Public
[notary seal]
