PURCHASE AGREEMENT
                      Cheddar's Restaurant
                           Clive, Iowa

This AGREEMENT, entered into effective as of the 15th of October,
2003.

1.    Parties.  Seller  is  AEI Real Estate  Fund  XVIII  Limited
Partnership  which  owns an undivided 100% interest  in  the  fee
title  to  that  certain real property legally described  in  the
attached  Exhibit  "A"  (the "Property") Buyer  is  Steward  Real
Estate  Services,  LLC, or assignee. Seller wishes  to  sell  and
Buyer wishes to buy the Property.

2.    Property.  The  Property  to  be  sold  to  Buyer  in  this
transaction consists of an undivided 100% percentage interest the
Property. See attached Exhibit B for any personalty in connection
with the Property.

3.    Purchase  Price.  The purchase price  for  this  percentage
interest in the Property is $2,264,790, all cash.

4.    Terms. The purchase price for the Property will be paid  by
Buyer as follows:

(A).  When  this agreement is executed, Buyer will, within  three
(3)  business  days,  deposit $25,000 with the  Escrow  Agent  as
provided  in Paragraph 7 of this contract, (the "Earnest Money").
The  Earnest  Money will be credited against the  purchase  price
when and if escrow closes and the sale is completed.

(B).  Buyer  will  deposit the balance  of  the  purchase  price,
$2,239,790  into  escrow in sufficient time to  allow  escrow  to
close on the closing date.

5.    Closing  Date. Escrow shall close on or before thirty  days
after the end of the Review Period.

6.    Due  Diligence. Buyer will have 45 days from the  effective
date  of this Agreement (The "Review Period"), to conduct all  of
its  inspections  and due diligence and satisfy itself  regarding
the  Property and this transaction, including obtaining  approval
from Buyer's Real Estate Committee. Buyer agrees to indemnify and
hold  Seller  harmless for any loss or damage to the Property  or
persons  caused  by  Buyer  or its agents  arising  out  of  such
physical inspections of the Property. Within fifteen (15) days of
the date of this contract, Seller shall provide:

A.    One  copy  of a title insurance commitment for  an  Owner's
Title insurance policy (see paragraph 8 below).

B.    A copy of a Certificate of Occupancy or other such document
granting permission to permanently occupy the improvements on the
Property as are in Seller's possession.

C.    A  copy  of an "as built" survey of the Property  completed
concurrent   with  Seller's  acquisition  of  the  Property,   if
available in Seller's possession.

D.    A copy of any Phase I Environmental Report on the Property,
if available in Seller's possession.

E.   Lease (as further set forth in paragraph 11(a) below) of the
Property showing occupancy date, lease expiration date, rent, and
Guarantees,   if  any,  accompanied  by  such  tenant   financial
statements as may have been provided most recently to  Seller  by
the Tenant and/or Guarantors.

Buyer  may  cancel  this agreement for ANY  REASON  in  its  sole
discretion  by  delivering a cancellation notice, return  receipt
requested,  to Seller and escrow holder before the expiration  of
the  Review  Period. If this Agreement is not  cancelled  as  set
forth  above,  the  Earnest Money shall be non-refundable  unless
Seller shall default hereunder.

If  Buyer cancels this Agreement as permitted under this Section,
except for any escrow cancellation fees and any liabilities under
the  first  paragraph of section 6 of this Agreement (which  will
survive),  Seller  (after execution of such documents  reasonably
requested  by  Seller to evidence the termination  hereof)  shall
return  to  Buyer its Earnest Money without further liability  to
either party and Buyer will have absolutely no rights, claims  or
interest of any type in connection with the Property.

Unless this Agreement is canceled by Buyer pursuant to the  terms
hereof, Seller shall be entitled to retain the Earnest Money  and
Buyer  irrevocably  will be deemed to be in  default  under  this
Agreement.  Seller may, at its option, retain the  Earnest  Money
and  declare  this Agreement null and void, in which event  Buyer
will be deemed to have canceled this Agreement and relinquish all
rights  in and to the Property, or Seller may exercise its rights
under  Section  14 hereof If this Agreement is not  canceled,  as
herein provided, all of Buyer's conditions and contingencies will
be deemed satisfied.

7.    Escrow. Escrow shall be opened with Lawyers Title Insurance
Company. A copy of this Agreement will be delivered to the escrow
holder  and will serve as escrow instructions together  with  the
escrow   holder's  standard  instructions  and   any   additional
instructions required by the escrow holder to clarify its  rights
and  duties  (and  the  parties agree to  sign  these  additional
instructions).  If  there  is any conflict  between  these  other
instructions and this Agreement, this Agreement will control.

8.    Title.  Closing  will be conditioned on  the  agreement  of
Lawyers  Title  Insurance Company to issue an Owner's  policy  of
title  insurance, dated as of the close of escrow, in  an  amount
equal  to  the  purchase  price, insuring  that  Buyer  will  own
insurable  title  to  the Property subject  only  to:  the  title
company  s  standard exceptions; current real property taxes  and
assessments;  survey  exceptions;  the  rights  of   parties   in
possession pursuant to the lease defined in paragraph  11  below;
all  matters of public record; and other items disclosed to Buyer
during the Review Period.

Buyer  shall be allowed fifteen (15) business days after  receipt
of  said  commitment  for  examination  and  the  making  of  any
objections to marketability thereto, said objections to  be  made
in  writing  or  deemed waived. If any objections  are  so  made,
Seller  shall be allowed thirty (30) days to cure such objections
and  make such title marketable or, in the alternative, to obtain
a   commitment   for  insurable  title  insuring   over   Buyer's
objections.  If  Seller shall decide to make no efforts  to  make
title marketable, or is unable to make title marketable or obtain
insurable  title,  (after execution by Buyer  of  such  documents
reasonably  requested  by  Seller  to  evidence  the  termination
hereof) Buyer's Earnest Money will be returned and this Agreement
shall be null and void and of no further force and effect. Seller
has  no  obligation  to spend any funds or  make  any  effort  to
satisfy Buyer's objections, if any.

Pending   satisfaction  of  Buyer's  objections,   the   payments
hereunder  required shall be postponed, but upon satisfaction  of
Buyer's objections and within ten (10) days after written  notice
to  the  Buyer of satisfaction of Buyer's objections, the parties
shall perform this Agreement according to its terms.

9.    Closing Costs. Seller will pay one-half of escrow fees, the
cost  of the title commitment and a brokerage commissions of four
percent  of  the  selling price paid by  Seller  to  Iowa  Realty
Commercial.   Seller  acknowledges  that  Steward   Real   Estate
Services,  LLC is a licensed Real Estate Broker in the  State  of
Missouri,  and will receive a portion of the brokerage commission
paid  to Iowa Realty Commercial as a referral fee. If Buyer shall
decide to purchase title insurance, then Buyer will pay the  cost
of obtaining a Standard Owners Title Insurance Policy in the full
amount of the purchase price. Buyer will pay all  recording fees,
transfer taxes and clerk's fees imposed upon the recording of the
deed, one-half of the escrow fees, and the  cost of an  update to
the Survey or Phase I Environmental  Report in Sellers possession
(if an update is required by Buyer.)  Each party will pay its own
attorney's fees and costs to document and close this transaction.

10.  Real Estate Taxes, Special Assessments and Prorations.

(A).  Because the Property is subject to a net lease (as  further
set  forth  in paragraph 1 l(a)(i), the parties acknowledge  that
there  shall be no need for a real estate tax proration. However,
Seller  warrants  that all real estate taxes and installments  of
special  assessments due and payable in all years  prior  to  the
year  of Closing have been paid in full. Unpaid real estate taxes
and unpaid levied and pending special assessments existing on the
date  of Closing shall be the responsibility of Buyer, pro-rated,
however,  to the date of closing for the period prior to closing,
which  shall be the responsibility of Seller if Tenant shall  not
pay  the same. Buyer shall likewise pay all taxes due and payable
in  the year after Closing and any unpaid installments of special
assessments  payable  therewith and thereafter,  if  such  unpaid
levied and pending special assessments and real estate taxes  are
not paid by any tenant of the Property.

(B). All income and all operating expenses from the Property,  if
any,  shall be prorated between the parties and adjusted by  them
as of the date of Closing. Seller shall be entitled to all income
earned, and shall be responsible for all expenses incurred, prior
to  the  date of Closing. Buyer shall be entitled to  all  income
earned and shall be responsible for all operating expenses of the
Property incurred on and after the date of closing.

11.  Seller's Representation and Agreements.

(A). Seller represents and warrants as of this date that:

1.  Except for the Lease Agreement in existence between AEI  Real
Estate  Fund XVIII Limited Partnership (as Lessor) and  Heartland
Restaurant  Corporation, a Florida corporation ("Lessee"),  dated
January 22, 1991, the Guarantee of Lease dated January 22,  1991,
and a Settlement Agreement dated February 25, 2003, Seller is not
aware of any leases of the Property.

2.  It  is  not  aware of any pending litigation or  condemnation
proceedings  against  the Property or Seller's  interest  in  the
Property.

3.  Except as previously disclosed to Buyer, Seller is not  aware
of  any  contracts Seller has executed that would be  binding  on
Seller after the closing date.

(B).  Provided that Buyer performs its obligations  as  required,
Seller agrees that it will not enter into any new contracts  that
would  materially  affect the Property and be binding  on  Seller
after the Closing Date without Buyer's prior consent, which  will
not be unreasonably withheld.

12. Disclosures.

(A).  Seller  has  not  received  any  notice  of  any  material,
physical,  or  mechanical  defects  of  the  Property,  including
without limitation, the plumbing, heating, air conditioning,  and
ventilating, electrical system. To the best of Seller's knowledge
without  inquiry, all such items are in good operating  condition
and  repair  and in compliance with all applicable  governmental,
zoning,   and   land  use  laws,  ordinances,   regulations   and
requirements. If Seller shall receive any notice to the  contrary
prior to Closing, Seller will inform Buyer prior to Closing.
(B).  Seller  has  not  received any  notice  that  the  use  and
operation  of  the  Property  is  not  in  full  compliance  with
applicable building codes (including ADA), safety, fire,  zoning,
and  land use laws, and other applicable local, state and federal
laws,  ordinances, regulations and requirements. If Seller  shall
receive  any  such  notice prior to Closing, Seller  will  inform
Buyer prior to Closing.

(C).  Seller knows of no facts, nor has Seller failed to disclose
to Buyer any fact known to Seller, which would prevent the Tenant
from  using and operating the Property after the Closing  in  the
manner in which the Property has been used and operated prior  to
the date of this Agreement. If Seller shall receive any notice to
the contrary prior to Closing, Seller will inform Buyer prior  to
Closing.

(D).  Seller has not received any notice that the Property is  in
violation  of  any  federal, state or local  law,  ordinance,  or
regulations  relating to industrial hygiene or the  environmental
conditions on, under, or about the Property, including,  but  not
limited  to,  soil, and groundwater conditions. To  the  best  of
Seller's  knowledge, there is no proceeding  or  inquiry  by  any
governmental authority with respect to the presence of  Hazardous
Materials on the Property or the migration of Hazardous Materials
from or to other property. Buyer agrees that Seller will have  no
liability of any type to Buyer or Buyer's successors, assigns, or
affiliates in connection with any Hazardous Materials  on  or  in
connection  with the Property either before or after the  Closing
Date,  except  such Hazardous Materials on or in connection  with
the  Property  arising  out  of  Seller's  gross  negligence   or
intentional misconduct. If Seller shall receive any notice to the
contrary  prior  to Closing, Seller will inform  Buyer  prior  to
Closing.

(E). BUYER AGREES THAT IT SHALL BE PURCHASING THE PROPERTY IN ITS
PRESENT  CONDITION,  "AS  IS,  WHERE  IS",  AND  SELLER  HAS   NO
OBLIGATIONS TO CONSTRUCT OR REPAIR ANY IMPROVEMENTS THEREON OR TO
PERFORM ANY OTHER ACT REGARDING THE PROPERTY, EXCEPT AS EXPRESSLY
PROVIDED HEREIN.

(F).  BUYER  ACKNOWLEDGES THAT, HAVING BEEN GIVEN THE OPPORTUNITY
TO INSPECT THE PROPERTY AND SUCH FINANCIAL INFORMATION CONCERNING
THE  LESSEE  AND  ANY GUARANTORS OF THE LEASE  AS  BUYER  OR  ITS
ADVISORS  SHALL  REQUEST  AND AS MAY BE IN  SELLER'S  POSSESSION,
BUYER  IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY
AND  NOT ON ANY REPRESENTATIONS OR INFORMATION PROVIDED BY SELLER
OR  TO  BE PROVIDED BY SELLER, EXCEPT AS SET FORTH HEREIN.  BUYER
FURTHER  ACKNOWLEDGES THAT THE INFORMATION  PROVIDED,  OR  TO  BE
PROVIDED,  BY  SELLER WITH RESPECT TO THE PROPERTY, THE  PROPERTY
AND  TO THE LESSEE AND ANY GUARANTORS OF LEASE, WAS OBTAINED FROM
A  VARIETY  OF  SOURCES AND SELLER HAS NOT (A)  MADE  INDEPENDENT
INVESTIGATION OR VERIFICATION OF SUCH INFORMATION, AND (B)  MAKES
NO  REPRESENTATIONS  AS TO THE ACCURACY OR COMPLETENESS  OF  SUCH
INFORMATION, EXCEPT AS HEREIN SET FORTH. THE SALE OF THE PROPERTY
AS PROVIDED FOR HEREIN IS MADE ON AN "AS IS - WHERE IS" BASIS AND
BUYER  EXPRESSLY  ACKNOWLEDGES  THAT,  IN  CONSIDERATION  OF  THE
AGREEMENTS OF SELLER HEREIN, EXCEPT AS OTHERWISE SPECIFIED HEREIN
IN  PARAGRAPH 11(A) AND (B) ABOVE AND THIS PARAGRAPH  12,  SELLER
MAKES  NO  WARRANTY  OR REPRESENTATION, EXPRESS  OR  IMPLIED,  OR
ARISING  BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO,  ANY
WARRANTY  OF  CONDITION,  HABITABILITY,  SUITABILITY  FOR  LEASE,
SUITABILITY FOR COMMERCIAL PURPOSES, MERCHANTABILITY, OR  FITNESS
FOR A PARTICULAR PURPOSE, IN RESPECT OF THE PROPERTY.

The provisions (D) - (F) above shall survive Closing.

13. Closing.

(A). Before the closing date, Seller will deposit into escrow  an
executed  special warranty deed warranting title  against  lawful
claims  by, through, or under a conveyance from Seller,  but  not
further  or otherwise, conveying insurable title of the  Property
to  Buyer,  subject to the exceptions contained  in  paragraph  8
above. Seller will also deliver an Estoppel Certificate certified
by Seller (or if available, by Lessee) as to the absence of known
defaults by Lessee and Lessor under the Lease
(B).  On  or  before  the closing date, Buyer will  deposit  into
escrow  the  balance  of the Purchase Price when  required  under
Section 4 and any additional funds required of Buyer (pursuant to
this agreement or any other agreement executed by Buyer) to close
escrow. Both parties will deliver to the escrow holder any  other
documents  reasonably  required by the  escrow  holder  to  close
escrow.

(C). On the closing date, if escrow is ready to close, the escrow
holder  will:  record  the deed in the official  records  of  the
county where the Property is located; cause the title company  to
commit  to issue the title policy; immediately deliver to  Seller
the  portion  of  the  purchase price deposited  into  escrow  by
cashier's check or wire transfer (less debits and prorations,  if
any);  deliver  to Seller and Buyer a signed counterpart  of  the
escrow  holder's certified closing statement and take  all  other
actions necessary to close escrow.

14.  Defaults. If this contract shall not be closed for the fault
of  Buyer, then the earnest money amount shall be kept by  Seller
as  liquidated damages, it being agreed that actual  damages  are
difficult, if not impossible, to ascertain.

If  Seller shall default, Buyer irrevocably waives any rights  to
file  a  us  pendens, a specific perfonnance action or any  other
claim,  action or proceeding of any type in connection  with  the
Property or this or any other transaction involving the Property,
and  will  not  do  anything to affect title to the  Property  or
hinder,  delay  or  prevent  any  other  sale,  lease  or   other
transaction involving the Property (any and all of which will  be
null  and  void), unless: it has performed all of its obligations
and   satisfied   all  conditions  under  this   Agreement,   and
unconditionally  notified Seller that it stands ready  to  tender
full  performance, purchase the Property and close escrow as  per
this  Agreement, regardless of any alleged default or  misconduct
by  Seller. Provided, however, that Seller's responsibility shall
be  limited  to actual damages, and in no event shall  Seller  be
liable  to  any  punitive, consequential or  speculative  damages
arising out of any default by Seller hereunder.

If  legal  action  is brought arising out of this  contract,  the
prevailing party shall be entitled to a reasonable attorney fee.

15.  Buyer's Representations and Warranties.

(A). Buyer represents and warrants to Seller as follows:

(1).  In  addition  to  the  acts and deeds  recited  herein  and
contemplated to be performed, executed, and delivered  by  Buyer,
Buyer  shall  perform,  execute  and  deliver  or  cause  to   be
performed,  executed, and delivered at the Closing or  after  the
Closing, any and all further acts, deeds and assurances as Seller
or  the  Title Company may require and be reasonable in order  to
consummate the transactions contemplated herein.

(2).  Buyer  has all requisite power and authority to  consummate
the  transaction contemplated by this Agreement and has by proper
proceedings  duly authorized the execution and delivery  of  this
Agreement  and  the consummation of the transaction  contemplated
hereby.

(3). To Buyer's knowledge, neither the execution and delivery  of
this   Agreement   nor  the  consummation  of   the   transaction
contemplated hereby will violate or be in conflict with  (a)  any
applicable provisions of law, (b) any order of any court or other
agency  of  government having jurisdiction  hereof,  or  (c)  any
agreement  or instrument to which Buyer is a party  or  by  which
Buyer is bound.

16.  Damages. Destruction and Eminent Domain.

(A).  If,  prior to closing, the Property or any part thereof  be
destroyed or further damaged by fire, the elements, or any cause,
due  to events occurring subsequent to the date of this Agreement
to  the  extent that the cost of repair exceeds $10,000.00,  this
Agreement   shall  become  null  and  void,  at  Buyer's   option
exercised, if at all, by written notice to Seller within ten (10)
days  after Buyer has received written notice from Seller of said
destruction or damage. Seller, however, shall have the  right  to
adjust or settle any insured loss until (i) all contingencies set
forth  in Paragraph 6 hereof have been satisfied, or waived;  and
(ii) any ten-day period provided for above in this Subparagraph I
6a  for Buyer to elect to terminate this Agreement has expired or
Buyer  has, by written notice to Seller, waived Buyer's right  to
terminate  this  Agreement. If Buyer elects  to  proceed  and  to
consummate  the  purchase  despite said  damage  or  destruction,
there  shall  be  no reduction in or abatement  of  the  purchase
price,  and  Seller  shall assign to Buyer  the  Seller's  right,
title, and interest in and to all insurance proceeds (pro-rata in
relation   to  the  Property)  resulting  from  said  damage   or
destruction to the extent that the same are payable with  respect
to damage to the Property, subject to rights of any Tenant of the
Property.

If  the  cost of repair is less than $10,000.00, Buyer  shall  be
obligated to otherwise perform hereinunder with no adjustment  to
the  Purchase  Price, reduction or abatement,  and  Seller  shall
assign Seller's right, title and interest in and to all insurance
proceeds pro-rata in relation to the Property, subject to  rights
of any Tenant of the Property.

(B). If, prior to closing, the Property, or any part thereof,  is
taken  by  eminent domain, this Agreement shall become  null  and
void  at Buyer's option. If Buyer elects to proceed to consummate
the purchase despite said taking, there shall be no reduction in,
or  abatement of, the purchase price, and Seller shall assign  to
Buyer the Seller's right, title, and interest in and to any award
made,  or to be made, in the condemnation proceeding pro-rata  in
relation to the Property, subject to rights of any Tenant of  the
Property.

In  the  event  that  this Agreement is terminated  by  Buyer  as
provided  above in Subparagraph I 6A or I 6B, the  First  Payment
shall  be immediately returned to Buyer (after execution by Buyer
of  such documents reasonably requested by Seller to evidence the
termination hereof)

17. Cancellation

If any party elects to cancel this Contract because of any breach
by  another party or because escrow fails to close by the  agreed
date,  the party electing to cancel shall deliver to escrow agent
a  notice  containing  the address of the  party  in  breach  and
stating  that this Contract shall be cancelled unless the  breach
is  cured within 13 days following the delivery of the notice  to
the escrow agent. Within three days after receipt of such notice,
the escrow agent shall send it by United States Mail to the party
in  breach at the address contained in the Notice and no  further
notice  shall be required. If the breach is not cured within  the
13 days following the delivery of the notice to the escrow agent,
this Contract shall be cancelled.

18. Miscellaneous.

(A) Buyer shall have the right to assign this contract.

(B).  This  Agreement  may be amended only by  written  agreement
signed  by  both  Seller and Buyer and all  waivers  must  be  in
writing  and signed by the waiving party. Time is of the essence.
This  Agreement  will not be construed for  or  against  a  party
whether or not that party has drafted this Agreement. If there is
any  action  or proceeding between the parties relating  to  this
Agreement  the  prevailing  party will  be  entitled  to  recover
attorney's  fees  and  costs.  This is  an  integrated  agreement
containing  all agreements of the parties about the Property  and
the   other  matters  described  and  it  supersedes  any   other
agreements or understandings. Exhibits attached to this Agreement
are incorporated into this Agreement.

(C).  If  this  escrow has not closed within one  hundred  twenty
(120)  days  of  the Effective Date of this contract  through  no
fault  of Seller, Seller may, at its election, extend the closing
date  or  exercise any remedy available to it by  law,  including
terminating this Agreement.

(D).  Funds  to be deposited or paid by Buyer must  be  good  and
clear  funds  in  the  form  of cash, cashier's  checks  or  wire
transfers.

(E).  All notices from either of the parties hereto to the  other
shall  be  in writing and shall be considered to have  been  duly
given  or  served if sent by first class certified  mail,  return
receipt requested, postage prepaid, or by a nationally recognized
courier  service guaranteeing overnight delivery to the party  at
his  or its address set forth below, or to such other address  as
such party may hereafter designate by written notice to the other
party.

If to Seller:
AEI Real Estate Fund XVIII Limited Partnership
30 East Seventh Street, Suite 1300
St. Paul, MN 55101

If to Buyer:
Steward Real Estate Services, LLC, or assignee
Attn:   Gene Johnson
1661 North Booneville Avenue, Suite F
Springfield, Missouri 65803

When  accepted, this offer will be a binding agreement for  valid
and  sufficient consideration which will bind and benefit  Buyer,
Seller  and  their  respective successors and assigns.  Buyer  is
submitting  this  offer  by signing a  copy  of  this  offer  and
delivering it to Seller. Seller has five (5) business  days  from
receipt within which to accept this offer.

This   Agreement  shall  be  governed  by,  and  interpreted   in
accordance with, the laws of the state of Iowa.

IN WITNESS WHEREOF, the Seller and Buyer have executed this
Agreement effective as of the day and year above first written.


BUYER:

Steward Real Estate Services, LLC, or assignee

By: /s/ Gene Johnson
        Gene Johnson, Senior Vice President



SELLER:

AEI Real Estate Fund XV Limited Partnership
By: AEI Fund Management XVIII, Inc.

By:/s/ Patrick W Keene

       Patrick W. Keene, Chief Financial Officer




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