FIRST AMENDMENT TO NET LEASE AGREEMENT
THIS AMENDMENT TO NET LEASE AGREEMENT, made and entered into
effective as of the 12th day of February, 2002, by and between
Champps Entertainment, Inc. ("Lessee"), whose address is ▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, and AEI Net Lease
Income & Growth Fund XX Limited Partnership, AEI Real Estate Fund
XVII Limited Partnership, and AEI Net Lease Income & Growth Fund
XIX Limited Partnership ("AEI" or "Lessor"), whose address is
Suite ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇.
WITNESSETH:
WHEREAS, Lessor is the fee owner of a certain parcel of real
property and improvements located at Utica, Michigan, 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 27, 2001 (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 Twenty (20)
consecutive "Lease Years", as hereinafter defined, plus the
period commencing on the initial effective date of the Lease
("Occupancy Date"), with the contemplated initial term hereof
ending on February 28, 2022.
(B) The first full Lease Year shall commence on the date of
this First Amendment and continue through February 28, 2003.
2. Article 4(A) of the Lease shall henceforth read as follows:
ARTICLE 4. RENT PAYMENTS
(A) Annual Rent Payable for the first, second,
and third Lease Years: Lessee shall pay to Lessor
an annual Base Rent of $376,250.00, which amount
shall be payable in advance on the first day of
each month in equal monthly installments of
$8,779.17to Lessor Fund XVII, $13,795.83 to Lessor
Fund XX, and $8,779.17 to Lessor 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.
3. 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.
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: CHAMPPS ENTERTAINMENT, INC.
By: /s/ ▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇
Its: CFO
STATE OF COLORADO)
)SS.
COUNTY OF ARAPAHOE)
The foregoing instrument was acknowledged before me this 6th
day of February, 2002, by ▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇, as CFO of
Champps Entertainment, Inc. on behalf of said corporation.
/s/ ▇▇▇▇▇▇ ▇ ▇▇▇▇▇
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.
By: /s/ ▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, President
STATE OF MINNESOTA )
)SS.
COUNTY OF ▇▇▇▇▇▇ )
The foregoing instrument was acknowledged before me the 12th
day of February, 2002, by ▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇, 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/ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇
Notary Public
[notary seal]
AEI REAL ESTATE FUND XVII LIMITED PARTNERSHIP, a
Minnesota limited partnership
By: AEI FUND MANAGEMENT XVII, INC., a Minnesota
corporation
By:/s/ ▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, President
STATE OF MINNESOTA )
)SS.
COUNTY OF ▇▇▇▇▇▇ )
The foregoing instrument was acknowledged before me the 12th
day of February, 2002, by ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, the President of AEI
Fund Management XVII, Inc., a Minnesota corporation, corporate
general partner of AEI Real Estate Fund XVII Limited Partnership,
on behalf of said limited partnership.
/s/ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇
Notary Public
[notary seal]
AEI NET LEASE INCOME & GROWTH FUND XX LIMITED
PARTNERSHIP, a Minnesota limited partnership
By: AEI FUND MANAGEMENT XX, INC., a Minnesota
corporation
By:/s/ ▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, President
STATE OF MINNESOTA )
)SS.
COUNTY OF ▇▇▇▇▇▇ )
The foregoing instrument was acknowledged before me the 12th
day of February, 2002, by ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, the President of AEI
Fund Management XX, Inc., a Minnesota corporation, corporate
general partner of AEI Net Lease Income & Growth Fund XX Limited
Partnership, on behalf of said limited partnership.
/s/ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇
Notary Public
[notary seal]
Exhibit A Legal Description
Land situated in the City of Utica, County of Macomb, State
of Michicgan:
Part of the the southwest 1/4 of ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇ ▇▇▇▇▇, ▇▇▇▇▇
▇▇ ▇▇▇▇, ▇▇▇▇ of Utica, Maqcomb County, Michigan, described as:
Commencing at the South 1/4 corner of Section 35; thence south 87
derees 34 minutes 54 seconds west, 33.00 feet along the South line of
Section 35; thence North 01 degree 29 minutes 57 seconds West, 285.04
feet to the North right of Way line of M-59; thence South 87 degrees 34
minutes 54 seconds West, 149.44 feet along the North Right of Way line
of M-59 to the point of beginning; thence continuing South 87 degrees
34 minutes 54 seconds West, 150.02 feet; thence North 01 degree 28
minutes 58 seconds West, 583.93 feet; thence North 88 degrees 30 minutes
03 seconds East, 150.00 feet, thence south 01 degree 28 minutes 58
seconds East, 581.52 feet to the Point of Beginning.