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Assignment and Assumption of Lease

 

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Title:

Assignment and Assumption of Lease

Entities:

Winn-Dixie Stores, Inc.; Transmitter Crossing, LLC; AEI Net Lease Income & Growth Fund XIX LP; AEI Income & Growth Fund 24, LLC; Winn-Dixie Montgomery, Inc.

Date:

2003

Size:

Preview shows 4KB of 87KB total

Price:

$57

ID:

#169387

 

 

► Leasing ► Assumptions ► Assignment & Assumption of Lease Agreements
► Retail ► Grocery

 

 

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ASSIGNMENT AND ASSUMPTION OF LEASE


This Assignment and Assumption of Lease, dated as of
September 19, 2003, is made between Transmitter Crossing,
LLC, an Alabama Limited Liability Company ("Assignor") and
AEI Net Lease Income & Growth Fund XIX Limited Partnership,
as a tenant in common, as to a thirty seven percent (37%)
interest, AEI Income & Growth Fund XXI Limited Partnership,
as a tenant in common, as to a thirty seven percent (37%)
interest and AEI Income & Growth Fund 24, LLC, as a tenant
in common, as to a twenty six percent (26%) interest
(collectively, "Assignee").

WHEREAS, Assignor is the Landlord by assignment and
Winn-Dixie Montgomery, Inc. is the Tenant under that certain
Lease dated April 13, 1996, as same has been amended and
supplemented from time to time (collectively, the "Lease"),
with respect to certain premises demised thereby (the
"Premises");

WHEREAS, Assignee is purchasing the real property
containing the Premises from Assignor pursuant to a Real
Estate Purchase Agreement between Assignor and United Realty
Company, LLC, dated June 5, 2003 (the "Agreement"); and

WHEREAS, Assignor wishes to assign the Lease to
Assignee, and Assignee wishes to assume same.

NOW, THEREFORE, in consideration of the premises and
the mutual promises herein contained and contained in the
Agreement, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:

1. Assignment of Lease and Guaranty. Assignor
hereby assigns, transfers, conveys and delivers to Assignee
all of its right, title and interest in and to the Lease and
the Guaranty of May 10, 1996 by Winn-Dixie Stores, Inc.

2. The Lease. Assignor hereby agrees and
warrants as follows: (i) a true and correct originals of
the Lease and Guaranty have been delivered by Assignor to
Assignee; (ii) the Lease constitutes the sole agreement
between Assignor and the Tenant (defined below) with respect
to the premises therein described; (iii) the Lease and
Guaranty are unmodified and in full force and effect in
accordance with their terms; and (iv) Assignor has not
given, made or received, any notice of default or claim
under or with respect to the Lease.

3. Assumption of Lease by Assignee. Assignee
hereby accepts the foregoing assignment and assumes and
agrees to perform all obligations, covenants and provisions
accruing or arising or required from and after the date
hereof with respect to the Lease.

4. Indemnity from Assignor. Assignor shall
indemnify and hold harmless Assignee from all claims, causes
of action, costs, losses, damages and attorney's fees
arising out of or incurred in connection with the Lease, if
any, prior to the Effective Date of this Agreement.

5. Indemnity from Assignee. Assignee shall
indemnify and hold harmless Assignor from all claims, causes
of action, costs, losses, damages and attorney's fees
arising out of or incurred in connection with the Lease from

 

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