FIRST AMENDMENT TO NET LEASE AGREEMENT
THIS AMENDMENT TO NET LEASE AGREEMENT, made and entered into
effective as of the 28th day of December, 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"),
and AEI Net Lease Income & Growth Fund XIX Limited Partnership,
whose corporate general partner is AEI Fund Management XIX, Inc.,
a Minnesota corporation ("Fund XIX"), both 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 East Broad Street, Columbus,
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 Fund XVIII have entered into that
certain Net Lease Agreement dated May 1, 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;
WHEREAS, Lessor Fund XVIII has sold an undivided 60% interest as
a Tenant in Common in the Leased Premises and the Lease to Fund
XIX;
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
December 28th, 1998, plus the period commencing May 1, 1998
("Occupancy Date") through December, 28th, with the contemplated
initial term hereof ending on December 30, 2013.
(B) The first full Lease Year shall commence on the date of this
First Amendment and continue through December 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 $138,503.13,
which amount shall be payable in advance on the first day of each
month in equal monthly installments of $4,616.77 to Fund XVIII
and of $6,925.16 to Fund XIX. 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: Executive Vice President & CFO
Witness
/s/ Xxxxx Xxxxx
Xxxxx Xxxxx
Print Name
Witness
/s/ Xxxx Xxxx
Xxxx Xxxx
Print Name
STATE OF KENTUCKY)
)SS.
COUNTY OF JEFFERSON)
The foregoing instrument was acknowledged before me this 23rd day
of December, 1998, by Xxxxx Xxxxxxxxx, as Exec VP & CFO of
Tumbleweed, LLC, on behalf of said limited liability company.
/s/ Xxxxx Xxxxxxx
Notary Public
/s/ my commission
expires 6-29-2000
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LESSOR:
AEI REAL ESTATE FUND XVIII LIMITED PARTNERSHIP
By: AEI Fund Management XVIII, Inc.
Witness
/s/ Xxxxxx X Xxxxx By: /s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxx Xxxxxx X. Xxxxxxx, President
Print Name
Witness
/s/ Xxxx X Xxxxxx
Xxxx X Xxxxxx
Print Name
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 28th day
of December, 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 R.E. Xxxxx
Notary Public
[notary seal]
LEASE AMENDMENT, TUMBLEWEED, COLUMBUS, OHIO
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LESSOR:
AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
By: AEI Fund Management XIX, Inc.
Witness
/s/ Xxxxxx X Xxxxx By:/s/ Xxxxxx X Xxxxxxx
Xxxxxx X Xxxxx Xxxxxx X. Xxxxxxx, President
Print Name
Witness
/s/ Xxxx X Xxxxxx
Xxxx X Xxxxxx
Print Name
STATE OF MINNESOTA )
)SS.
COUNTY OF XXXXXX )
The foregoing instrument was acknowledged before me the 28th day
of December, 1998, by Xxxxxx X Xxxxxxx, the President of AEI Fund
Management XIX, Inc., a Minnesota corporation, corporate general
partner of AEI Net Lease Income & Growth Fund XIX Limited
Partnership, on behalf of said limited partnership.
/s/ Xxxxxx R. E. Xxxxx
Notary Public
[notary seal]
LEASE AMENDMENT, TUMBLEWEED, COLUMBUS, OHIO
