FIRST AMENDMENT TO NET LEASE AGREEMENT
THIS AMENDMENT TO NET LEASE AGREEMENT, made and entered
into effective as of the 20th day of November, 1998, by and
between AEI Real Estate Fund XVIII Limited Partnership, a
Minnesota limited partnership whose corporate general partner is
AEI Fund Management XVIII, Inc., a Minnesota corporation ("Fund
XVIII"); AEI Net Lease Income & Growth Fund XIX Limited
Partnership, a Minnesota limited partnership whose corporate
general partner is AEI Fund Management XIX, Inc., a Minnesota
corporation ("Fund XIX"); and Xxxxxx X. Xxxxxxx ("Xxxxxxx"), all
of whose principal business address is 1300 Minnesota World Trade
Center, 00 Xxxx Xxxxxxx Xxxxxx, Xx. Xxxx, Xxxxxxxxx 00000
(hereinafter collectively referred to as "Lessor"), and
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 Chillicothe, Ohio, 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 April 13, 1998 (the XXxxxx@) 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
November 20th, 1998, plus the period commencing April 13, 1998
("Occupancy Date") through November 20th, with the contemplated
initial term hereof ending on November 30, 2013.
(B) The first full Lease Year shall commence on the date of
this First Amendment and continue through November 30, 1999.
2. Article 4(A) of the Lease shall henceforth read as follows:
ARTICLE 4. RENT PAYMENTS
(A) Annual Rent Payable for the first and second Lease
Years: Lessee shall pay to Lessor an annual Base Rent of
$127,363.93, which amount shall be payable in advance on the
first day of each month in equal monthly installments of $4776.15
to Fund XVIII, $4,245.46 to Fund XIX, and $ 1,592.05 to Xxxxxx
X. Xxxxxxx. 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.
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.
Lessee has accepted delivery of the Leased Premises and has
entered into occupancy thereof;
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;
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.
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, LLC.,
By:/s/ Xxxxx Xxxxxxxxx
Its:EVP & CFO
Witness
/s/ Xxxxxxx Xxxxx
Xxxxxxx Xxxxx
Print Name
Witness
/s/ Xxxx Xxxxx
Xxxx Xxxxx
Print Name
STATE OF KENTUCKY )
)SS.
COUNTY OF JEFFERSON)
The foregoing instrument was acknowledged before me this
16th day of November, 1998, by Xxxxx X Xxxxxxxxx, as Exec VP &
CFO of Tumbleweed, LLC, on behalf of said limited liability
company.
/s/ Xxxxx Xxxxxxx
Notary Public
[notary seal]
[Remainder of page intentionally left blank]
LESSOR:
AEI REAL ESTATE FUND XVIII LIMITED PARTNERSHIP
By: AEI Fund Management XVIII, Inc.
Witness
/s/ Xxxxxx X Xxxxxxx By:/s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxxxx Xxxxxx X. Xxxxxxx, President
Print Name
Witness
/s/ Xxxxxx X Xxxxxx
Xxxxxx X Xxxxxx
Print Name
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 20th
day of November, 1998, by Xxxxxx X Xxxxxxx, the President of AEI
Fund Management XVIII, Inc., a Minnesota corporation, corporate
general partner of AEI Real Estate Fund XVIII Limited
Partnership, on behalf of said limited partnership.
/s/ Xxxxxx X Xxxxxxxx
Notary Public
[notary seal]
[Remainder of page intentionally left blank]
AEI NET LEASE INCOME & GROWTH FUND XIX
LIMITED PARTNERSHIP
By: AEI Fund Management XIX, Inc.
Witness
/s/ Xxxxxx X Xxxxxxx By: /s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxxxx Xxxxxx X. Xxxxxxx, President
Print Name
Witness
/s/ Xxxxxx X Xxxxxx
Xxxxxx X Xxxxxx
Print Name
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 20th
day of November, 1998, by Xxxxxx X Xxxxxxx, the President of AEI
Fund Management XIX, Inc., a Minnesota corporation, corporate
general partner of AEI Real Estate Fund XIX Limited Partnership,
on behalf of said limited partnership.
/s/ Xxxxxxx X Xxxxxxxx
Notary Public
[notary seal]
[Remainder of page intentionally left blank]
XXXXXX X. XXXXXXX, INDIVIDUALLY
Witness
/s/ Xxxxxx X Xxxxxxx By:/s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxxxx Xxxxxx X. Xxxxxxx
Print Name
Witness
/s/ Xxxxxx X Xxxxxx
Xxxxxx X Xxxxxx
Print Name
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 20th
day of November, 1998, by Xxxxxx X. Xxxxxxx.
/s/ Xxxxxxx X Xxxxxxxx
Notary Public
[notary seal]
Exhibit "A"
0000 Xxxxx Xxxxxx Xxxxxx, Xxxxxxxxxxx, Xxxx
Situate in the City of Chillicothe, County of Xxxx, State of
Ohio, being part of the 15.983 acre tract conveyed to The ABCO
Land Development Corp. And the The Xxxxxxx Corporation (Deed Vol.
534 Page 800 Xxxx County Deed Records), bounded and described as
follows:
Beginning at an iron pin set in the west R/W line of North Bridge
Street (aka State Route 159 and Business Loop U.S. Route 23),
said iron pin being the northeast corner of the 0.723 acre tract
leased to RTM Operating Company, a Delaware Corporation (O.R.
Vol. 77 Page 0691) (Arby's Restaurant);
thence with the north line of said 0.723 acre tract, N 86 deg.
23' 40" W. 150.77 ft. to a Mag-Nail
thence with new lines through the tract of which this is a part
the following (2) courses,
1. N. 03 deg. 36' 20" E. 200.00 ft. to a Mag-Nail set and
2. S. 86 deg. 23' 40" E. 152.29 ft. to a Mag-Nail set;
thence with the west R/W line of North Bridge Street and with the
east line of the tract of which this is a part, S. 04 deg. 02'
25" W. 200.01 ft. to the point of beginning, containing 0.696
acres, subject to all easements and rights-of-way of record
pertinent to this tract.