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                                                                   EXHIBIT 10.12

                         FAMOUS DAVE'S OF AMERICA, INC.

                     1995 STOCK OPTION AND COMPENSATION PLAN
                       (as amended through June 15, 2000)

         1. Purpose. The purpose of the 1995 Stock Option and Compensation Plan,
as Amended (the "Plan") of Famous Dave's of America, Inc. (the "Company") is to
increase shareholder value and to advance the interests of the Company by
furnishing a variety of economic incentives ("Incentives") designed to attract,
retain and motivate employees. Incentives may consist of opportunities to
purchase or receive shares of Common Stock, no par value, of the Company
("Common Stock"), monetary payments or both on terms determined under this Plan.

         2. Administration. The Plan shall be administered by the stock option
committee (the "Committee") of the Board of Directors of the Company. The
Committee shall consist of not less than two directors of the Company and shall
be appointed from time to time by the Board of Directors of the Company. Each
member of the Committee shall be a "disinterested person" within the meaning of
Rule 16b-3 of the Securities Exchange Act of 1934, and the regulations
promulgated thereunder (the "1934 Act"). The Board of Directors of the Company
may from time to time appoint members of the Committee in substitution for, or
in addition to, members previously appointed, and may fill vacancies, however
caused, in the Committee. The Committee shall select one of its members as its
chairman and shall hold its meetings at such times and places as it shall deem
advisable. A majority of the Committee's members shall constitute a quorum. All
action of the Committee shall be taken by the majority of its members. Any
action may be taken by a written instrument signed by majority of the members
and actions so taken shall be fully effective as if it had been made by a
majority vote at a meeting duly called and held. The Committee may appoint a
secretary, shall keep minutes of its meetings and shall make such rules and
regulations for the conduct of its business as it shall deem advisable. The
Committee shall have complete authority to award Incentives under the Plan, to
interpret the Plan, and to make any other determination which it believes
necessary and advisable for the proper administration of the Plan. The
Committee's decisions and matters relating to the Plan shall be final and
conclusive on the Company and its participants.

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         3. Eligible Employees. Employees of the Company (including officers and
directors, but excluding directors of the Company who are not also full-time
employees of the Company) shall become eligible to receive Incentives under the
Plan when designated by the Committee. Employees may be designated individually
or by groups or categories (for example, by pay grade) as the Committee deems
appropriate. Participation by officers of the Company and any performance
objectives relating to such officers must be approved by the Committee.
Participation by others and any performance objectives relating to others may be
approved by groups or categories (for example, by pay grade) and authority to
designate participants who are not officers and to set or modify such targets
may be delegated.

         4. Types of Incentives. Incentives under the Plan may be granted in any
one or a combination of the following forms: (a) incentive stock options and
non-statutory stock options (section 6); (b) stock appreciation rights ("SARs")
(section 7); (c) stock awards (section 8); (d) restricted stock (section 8); (e)
performance shares (section 9); and (f) cash awards (section 10).

         5. Shares Subject to the Plan.

                  5.1. Number of Shares. Subject to adjustment as provided in
         Section 11.6, the number of shares of Common Stock which may be issued
         under the Plan shall not exceed 1,950,000 shares of Common Stock,
         subject to approval by the shareholders of the Company at the next
         meeting of shareholders.

                  5.2. Cancellation. To the extent that cash in lieu of shares
         of Common Stock is delivered upon the exercise of a SAR pursuant to
         Section 7.4, the Company shall be deemed, for purposes of applying the
         limitation on the number of shares, to have issued the greater of the
         number of shares of Common Stock which it was entitled to issue upon
         such exercise or on the exercise of any related option. In the event
         that a stock option or SAR granted hereunder expires or is terminated
         or canceled unexercised as to any shares of Common Stock, such shares
         may again be issued under the Plan either pursuant to stock options,
         SARs or otherwise. In the event that shares of Common Stock are issued
         as restricted stock or pursuant to a stock award and thereafter are
         forfeited or reacquired by the Company pursuant to rights reserved upon
         issuance thereof, such forfeited and reacquired shares may again be
         issued under the Plan, either as restricted stock, pursuant to stock
         awards or otherwise. The Committee may also determine to cancel, and
         agree to the cancellation of, stock options in order to make a
         participant eligible for the grant of a stock option at a lower price
         than the option to be canceled.

                  5.3. Type of Common Stock. Common Stock issued under the Plan
         in connection with stock options, SARs, performance shares, restricted
         stock or stock awards, may be authorized and unissued shares.
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         6. Stock Options. A stock option is a right to purchase shares of
Common Stock from the Company. Each stock option granted by the Committee under
this Plan shall be subject to the following terms and conditions:

                  6.1. Price. The option price per share shall be determined by
         the Committee, subject to adjustment under Section 11.6.

                  6.2. Number. The number of shares of Common Stock subject to
         the option shall be determined by the Committee, subject to adjustment
         as provided in Section 11.6. The number of shares of Common Stock
         subject to a stock option shall be reduced in the same proportion that
         the holder thereof exercises a SAR if any SAR is granted in conjunction
         with or related to the stock option.

                  6.3. Duration and Time for Exercise. Subject to earlier
         termination as provided in Section 11.4, the term of each stock option
         shall be determined by the Committee but shall not exceed ten years and
         one day from the date of grant. Each stock option shall become
         exercisable at such time or times during its term as shall be
         determined by the Committee at the time of grant. No stock option may
         be exercised during the first twelve months of its term. Except as
         provided by the preceding sentence, the Committee may accelerate the
         exercisability of any stock option. Subject to the foregoing and with
         the approval of the Committee, all or any part of the shares of Common
         Stock with respect to which the right to purchase has accrued may be
         purchased by the Company at the time of such accrual or at any time or
         times thereafter during the term of the option.

                  6.4. Manner of Exercise. A stock option may be exercised, in
         whole or in part, by giving written notice to the Company, specifying
         the number of shares of Common Stock to be purchased and accompanied by
         the full purchase price for such shares. The option price shall be
         payable in United States dollars upon exercise of the option and may be
         paid by cash; uncertified or certified check; bank draft; by delivery
         of shares of Common Stock in payment of all or any part of the option
         price, which shares shall be valued for this purpose at the Fair Market
         Value on the date such option is exercised; by instructing the Company
         to withhold from the shares of Common Stock issuable upon exercise of
         the stock option shares of Common Stock in payment of all or any part
         of the option price, which shares shall be valued for this purpose at
         the Fair Market Value or in such other manner as may be authorized from
         time to time by the Committee. Prior to the issuance of shares of
         Common Stock upon the exercise of a stock option, a participant shall
         have no rights as a shareholder.

                  6.5. Incentive Stock Options. Notwithstanding anything in the
         Plan to the contrary, the following additional provisions shall apply
         to the grant of stock options which are intended to qualify as
         Incentive Stock Options (as such term is defined in Section 422A of the
         Internal Revenue Code of 1986, as amended):

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                           (a) The aggregate Fair Market Value (determined as of
            the time the option is granted) of the shares of Common Stock with
            respect to which Incentive Stock Options are exercisable for the
            first time by any participant during any calendar year (under all of
            the Company's plans) shall not exceed $100,000.

                           (b) Any Incentive Stock Option certificate authorized
            under the Plan shall contain such other provisions as the Committee
            shall deem advisable, but shall in all events be consistent with and
            contain all provisions required in order to qualify the options as
            Incentive Stock Options.

                           (c) All Incentive Stock Options must be granted
            within ten years from the earlier of the date on which this Plan was
            adopted by Board of Directors or the date this Plan was approved by
            the shareholders.

                           (d) Unless sooner exercised, all Incentive Stock
            Options shall expire no later than 10 years after the date of grant.

                           (e) The option price for Incentive Stock Options
            shall be not less than the Fair Market Value of the Common Stock
            subject to the option on the date of grant.

                           (f) No Incentive Stock Options shall be granted to
            any participant who, at the time such option is granted, would own
            (within the meaning of Section 422A of the Code) stock possessing
            more than 10% of the total combined voting power of all classes of
            stock of the employer corporation or of its parent or subsidiary
            corporation.

         7. Stock Appreciation Rights. A SAR is a right to receive, without
payment to the Company, a number of shares of Common Stock, cash or any
combination thereof, the amount of which is determined pursuant to the formula
set forth in Section 7.4. A SAR may be granted (a) with respect to any stock
option granted under this Plan, either concurrently with the grant of such stock
option or at such later time as determined by the Committee (as to all or any
portion of the shares of Common Stock subject to the stock option), or (b)
alone, without reference to any related stock option. Each SAR granted by the
Committee under this Plan shall be subject to the following terms and
conditions:

            7.1. Number. Each SAR granted to any participant shall relate to
      such number of shares of Common Stock as shall be determined by the
      Committee, subject to adjustment as provided in Section 11.6. In the case
      of an SAR granted with respect to a stock option, the number of shares of
      Common

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         Stock to which the SAR pertains shall be reduced in the same proportion
         that the holder of the option exercises the related stock option.

                  7.2. Duration. Subject to earlier termination as provided in
         Section 11.4, the term of each SAR shall be determined by the Committee
         but shall not exceed ten years and one day from the date of grant.
         Unless otherwise provided by the Committee, each SAR shall become
         exercisable at such time or times, to such extent and upon such
         conditions as the stock option, if any, to which it relates is
         exercisable. No SAR may be exercised during the first twelve months of
         its term. Except as provided in the preceding sentence, the Committee
         may in its discretion accelerate the exercisability of any SAR.

                  7.3. Exercise. A SAR may be exercised, in whole or in part, by
         giving written notice to the Company, specifying the number of SARs
         which the holder wishes to exercise. Upon receipt of such written
         notice, the Company shall, within 90 days thereafter, deliver to the
         exercising holder certificates for the shares of Common Stock or cash
         or both, as determined by the Committee, to which the holder is
         entitled pursuant to Section 7.4.

                  7.4. Payment. Subject to the right of the Committee to deliver
         cash in lieu of shares of Common Stock (which, as it pertains to
         officers and directors of the Company, shall comply with all
         requirements of the 1934 Act), the number of shares of Common Stock
         which shall be issuable upon the exercise of a SAR shall be determined
         by dividing:

                           (a) the number of shares of Common Stock as to which
                  the SAR is exercised multiplied by the amount of the
                  appreciation in such shares (for this purpose, the
                  "appreciation" shall be the amount by which the Fair Market
                  Value of the shares of Common Stock subject to the SAR on the
                  exercise date exceeds (1) in the case of a SAR related to a
                  stock option, the purchase price of the shares of Common Stock
                  under the stock option or (2) in the case of a SAR granted
                  alone, without reference to a related stock option, an amount
                  which shall be determined by the Committee at the time of
                  grant, subject to adjustment under Section 11.6); by

                           (b) the Fair Market Value of a share of Common Stock
                  on the exercise date.

                  In lieu of issuing shares of Common Stock upon the exercise of
         a SAR, the Committee may elect to pay the holder of the SAR cash equal
         to the Fair Market Value on the exercise date of any or all of the
         shares which would otherwise be issuable. No fractional shares of
         Common Stock shall be issued upon the exercise of a SAR; instead, the
         holder of the SAR shall be entitled to receive a cash adjustment equal
         to the same fraction of the Fair Market Value of

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         a share of Common Stock on the exercise date or to purchase the portion
         necessary to make a whole share at its Fair Market Value on the date of
         exercise.

         8. Stock Awards and Restricted Stock. A stock award consists of the
transfer by the Company to a participant of shares of Common Stock, without
other payment therefor, as additional compensation for services to the Company.
A share of restricted stock consists of shares of Common Stock which are sold or
transferred by the Company to a participant at a price determined by the
Committee (which price shall be at least equal to the minimum price required by
applicable law for the issuance of a share of Common Stock) and subject to
restrictions on their sale or other transfer by the participant. The transfer of
Common Stock pursuant to stock awards and the transfer and sale of restricted
stock shall be subject to the following terms and conditions:

                  8.1. Number of Shares. The number of shares to be transferred
         or sold by the Company to a participant pursuant to a stock award or as
         restricted stock shall be determined by the Committee.

                  8.2. Sale Price. The Committee shall determine the price, if
         any, at which shares of restricted stock shall be sold to a
         participant, which may vary from time to time and among participants
         and which may be below the Fair Market Value of such shares of Common
         Stock at the date of sale.

                  8.3. Restrictions. All shares of restricted stock transferred
         or sold hereunder shall be subject to such restrictions as the
         Committee may determine, including, without limitation any or all of
         the following:

                           (a) a prohibition against the sale, transfer, pledge
                  or other encumbrance of the shares of restricted stock, such
                  prohibition to lapse at such time or times as the Committee
                  shall determine (whether in annual or more frequent
                  installments, at the time of the death, disability or
                  retirement of the holder of such shares, or otherwise);

                           (b) a requirement that the holder of shares of
                  restricted stock forfeit, or (in the case of shares sold to a
                  participant) resell back to the Company at his cost, all or a
                  part of such shares in the event of termination of his
                  employment during any period in which such shares are subject
                  to restrictions;

                           (c) such other conditions or restrictions as the
                  Committee may deem advisable.
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                  8.4. Escrow. In order to enforce the restrictions imposed by
         the Committee pursuant to Section 8.3, the participant receiving
         restricted stock shall enter into an agreement with the Company setting
         forth the conditions of the grant. Shares of restricted stock shall be
         registered in the name of the participant and deposited, together with
         a stock power endorsed in blank, with the Company. Each such
         certificate shall bear a legend in substantially the following form:

                  The transferability of this certificate and the
                  shares of Common Stock represented by it are subject
                  to the terms and conditions (including conditions of
                  forfeiture) contained in the 1995 Stock Option and
                  Compensation Plan of Rainforest Cafe, Inc. (the
                  "Company"), and an agreement entered into between
                  the registered owner and the Company. A copy of the
                  Plan and the agreement is on file in the office of
                  the secretary of the Company.

                  8.5. End of Restrictions. Subject to Section 11.5, at the end
         of any time period during which the shares of restricted stock are
         subject to forfeiture and restrictions on transfer, such shares will be
         delivered free of all restrictions to the participant or to the
         participant's legal representative, beneficiary or heir.

                  8.6. Shareholder. Subject to the terms and conditions of the
         Plan, each participant receiving restricted stock shall have all the
         rights of a shareholder with respect to shares of stock during any
         period in which such shares are subject to forfeiture and restrictions
         on transfer, including without limitation, the right to vote such
         shares. Dividends paid in cash or property other than Common Stock with
         respect to shares of restricted stock shall be paid to the participant
         currently.

         9. Performance Shares. A performance share consists of an award which
shall be paid in shares of Common Stock, as described below. The grant of
performance share shall be subject to such terms and conditions as the Committee
deems appropriate, including the following:

                  9.1. Performance Objectives. Each performance share will be
         subject to performance objectives for the Company or one of its
         operating units to be achieved by the end of a specified period. The
         number of performance shares granted shall be determined by the
         Committee and may be subject to such terms and conditions, as the
         Committee shall determine. If the performance objectives are achieved,
         each participant will be paid in shares of Common Stock or cash. If
         such objectives are not met, each grant of performance shares may
         provide for lesser payments in accordance with formulas established in
         the award.
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                  9.2. Not Shareholder. The grant of performance shares to a
         participant shall not create any rights in such participant as a
         shareholder of the Company, until the payment of shares of Common Stock
         with respect to an award.

                  9.3. No Adjustments. No adjustment shall be made in
         performance shares granted on account of cash dividends which may be
         paid or other rights which may be issued to the holders of Common Stock
         prior to the end of any period for which performance objectives were
         established.

                  9.4. Expiration of Performance Share. If any participant's
         employment with the Company is terminated for any reason other than
         normal retirement, death or disability prior to the achievement of the
         participant's stated performance objectives, all the participants
         rights on the performance shares shall expire and terminate unless
         otherwise determined by the Committee. In the event of termination of
         employment by reason of death, disability, or normal retirement, the
         Committee, in its own discretion may determine what portions, if any,
         of the performance shares should be paid to the participant.

         10. Cash Awards. A cash award consists of a monetary payment made by
the Company to a participant as additional compensation for his services to the
Company. Payment of a cash award will normally depend on achievement of
performance objectives by the Company or by individuals. The amount of any
monetary payment constituting a cash award shall be determined by the Committee
in its sole discretion. Cash awards may be subject to other terms and
conditions, which may vary from time to time and among participants, as the
Committee determines to be appropriate.

         11. General.

                  11.1. Effective Date. The Plan will become effective upon its
         approval by the affirmative vote of the holders of a majority of the
         voting power of the shares of the Company's Common Stock present and
         entitled to vote at a meeting of its shareholders. Unless approved
         within one year after the date of the Plan's adoption by the Board of
         Directors, the Plan shall not be effective for any purpose.

                  11.2. Duration. The Plan shall remain in effect until all
         Incentives granted under the Plan have either been satisfied by the
         issuance of shares of Common Stock or the payment of cash or been
         terminated under the terms of the Plan and all restrictions imposed on
         shares of Common Stock in connection with their issuance under the Plan
         have lapsed. No Incentives may be granted under the Plan after the
         tenth anniversary of the date the Plan is approved by the shareholders
         of the Company.
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                  11.3. Non-transferability of Incentives. No stock option, SAR,
         restricted stock or performance award may be transferred, pledged or
         assigned by the holder thereof (except, in the event of the holder's
         death, by will or the laws of descent and distribution to the limited
         extent provided in the Plan or in the Incentive) and the Company shall
         not be required to recognize any attempted assignment of such rights by
         any participant. During a participant's lifetime, an Incentive may be
         exercised only by him or by his guardian or legal representative.

                  11.4. Effect of Termination of Employment or Death. In the
         event that a participant ceases to be an employee of the Company for
         any reason, including death, any Incentives may be exercised or shall
         expire at such times as may be determined by the Committee.

                  11.5. Additional Condition. Notwithstanding anything in this
         Plan to the contrary: (a) the Company may, if it shall determine it
         necessary or desirable for any reason, at the time of award of any
         Incentive or the issuance of any shares of Common Stock pursuant to any
         Incentive, require the recipient of the Incentive, as a condition to
         the receipt thereof or to the receipt of shares of Common Stock issued
         pursuant thereto, to deliver to the Company a written representation of
         present intention to acquire the Incentive or the shares of Common
         Stock issued pursuant thereto for his own account for investment and
         not for distribution; and (b) if at any time the Company further
         determines, in its sole discretion, that the listing, registration or
         qualification (or any updating of any such document) of any Incentive
         or the shares of Common Stock issuable pursuant thereto is necessary on
         any securities exchange or under any federal or state securities or
         blue sky law, or that the consent or approval of any governmental
         regulatory body is necessary or desirable as a condition of, or in
         connection with the award of any Incentive, the issuance of shares of
         Common Stock pursuant thereto, or the removal of any restrictions
         imposed on such shares, such Incentive shall not be awarded or such
         shares of Common Stock shall not be issued or such restrictions shall
         not be removed, as the case may be, in whole or in part, unless such
         listing, registration, qualification, consent or approval shall have
         been effected or obtained free of any conditions not acceptable to the
         Company.

                  11.6. Adjustment. In the event of any merger, consolidation or
         reorganization of the Company with any other corporation or
         corporations, there shall be substituted for each of the shares of
         Common Stock then subject to the Plan, including shares subject to
         restrictions, options, or achievement of performance share objectives,
         the number and kind of shares of stock or other securities to which the
         holders of the shares of Common Stock will be entitled pursuant to the
         transaction. In the event of any recapitalization, stock dividend,
         stock split, combination of shares or other change in the Common Stock,
         the number of shares of Common Stock then subject to the Plan,
         including shares

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         subject to restrictions, options or achievements of performance shares,
         shall be adjusted in proportion to the change in outstanding shares of
         Common Stock. In the event of any such adjustments, the purchase price
         of any option, the performance objectives of any Incentive, and the
         shares of Common Stock issuable pursuant to any Incentive shall be
         adjusted as and to the extent appropriate, in the discretion of the
         Committee, to provide participants with the same relative rights before
         and after such adjustment.

                  11.7. Incentive Plans and Agreements. Except in the case of
         stock awards or cash awards, the terms of each Incentive shall be
         stated in a plan or agreement approved by the Committee. The Committee
         may also determine to enter into agreements with holders of options to
         reclassify or convert certain outstanding options, within the terms of
         the Plan, as Incentive Stock Options or as non-statutory stock options
         and in order to eliminate SARs with respect to all or part of such
         options and any other previously issued options.

                  11.8. Withholding.

                           (a) The Company shall have the right to withhold from
                  any payments made under the Plan or to collect as a condition
                  of payment, any taxes required by law to be withheld. At any
                  time when a participant is required to pay to the Company an
                  amount required to be withheld under applicable income tax
                  laws in connection with a distribution of Common Stock or upon
                  exercise of an option or SAR, the participant may satisfy this
                  obligation in whole or in part by electing (the "Election") to
                  have the Company withhold from the distribution shares of
                  Common Stock having a value up to the amount required to be
                  withheld. The value of the shares to be withheld shall be
                  based on the Fair Market Value of the Common Stock on the date
                  that the amount of tax to be withheld shall be determined
                  ("Tax Date").

                           (b) Each Election must be made prior to the Tax Date.
                  The Committee may disapprove of any Election, may suspend or
                  terminate the right to make Elections, or may provide with
                  respect to any Incentive that the right to make Elections
                  shall not apply to such Incentive. An Election is irrevocable.

                           (c) If a participant is an officer or director of the
                  Company within the meaning of Section 16 of the 1934 Act, then
                  an Election is subject to the following additional
                  restrictions:

                                    (1) No Election shall be effective for a Tax
                           Date which occurs within six months of the grant of
                           the award, except that this limitation shall not
                           apply in the event death or disability

<PAGE>   11

                           of the participant occurs prior to the expiration of
                           the six-month period.

                                    (2) The Election must be made either six
                           months prior to the Tax Date or must be made during a
                           period beginning on the third business day following
                           the date of release for publication of the Company's
                           quarterly or annual summary statements of sales and
                           earnings and ending on the twelfth business day
                           following such date.

                  11.9. No Continued Employment or Right to Corporate Assets. No
         participant under the Plan shall have any right, because of his or her
         participation, to continue in the employ of the Company for any period
         of time or to any right to continue his or her present or any other
         rate of compensation. Nothing contained in the Plan shall be construed
         as giving an employee, the employee's beneficiaries or any other person
         any equity or interests of any kind in the assets of the Company or
         creating a trust of any kind or a fiduciary relationship of any kind
         between the Company and any such person.

                  11.10. Deferral Permitted. Payment of cash or distribution of
         any shares of Common Stock to which a participant is entitled under any
         Incentive shall be made as provided in the Incentive. Payment may be
         deferred at the option of the participant if provided in the Incentive.

                  11.11. Amendment of the Plan. The Board may amend or
         discontinue the Plan at any time. However, no such amendment or
         discontinuance shall, subject to adjustment under Section 11.6, (a)
         change or impair, without the consent of the recipient, an Incentive
         previously granted, (b) increase the maximum number of shares of Common
         Stock which may be issued to all participants under the Plan, (c)
         change or expand the types of Incentives that may be granted under the
         Plan, (d) change the class of persons eligible to receive Incentives
         under the Plan, or (e) materially increase the benefits accruing to
         participants under the Plan.
<PAGE>   12

                  11.12. Immediate Acceleration of Incentives. Notwithstanding
         any provision in this Plan or in any Incentive to the contrary, (a) the
         restrictions on all shares of restricted stock award shall lapse
         immediately, (b) all outstanding options and SARs will become
         exercisable immediately, and (c) all performance shares shall be deemed
         to be met and payment made immediately, if subsequent to the date that
         the Plan is approved by the Board of Directors of the Company, any of
         the following events occur unless otherwise determined by the Board of
         Directors and a majority of the Continuing Directors (as defined
         below):

                           (1) any person or group of persons becomes the
                  beneficial owner of 30% or more of any equity security of the
                  Company entitled to vote for the election of directors;

                           (2) a majority of the members of the Board of
                  Directors of the Company is replaced within the period of less
                  than two years by directors not nominated and approved by the
                  Board of Directors; or

                           (3) the shareholders of the Company approve an
                  agreement to merge or consolidate with or into another
                  corporation or an agreement to sell or otherwise dispose of
                  all or substantially all of the Company's assets (including a
                  plan of liquidation).

         For purposes of this Section 11.12, beneficial ownership by a person or
group of persons shall be determined in accordance with Regulation 13D (or any
similar successor regulation) promulgated by the Securities and Exchange
Commission pursuant to the 1934 Act. Beneficial ownership of more than 30% of an
equity security may be established by any reasonable method, but shall be
presumed conclusively as to any person who files a Schedule 13D report with the
Securities and Exchange Commission reporting such ownership. If the restrictions
and forfeitability periods are eliminated by reason of provision (1), the
limitations of this Plan shall not become applicable again should the person
cease to own 30% or more of any equity security of the Company.

         For purposes of this Section 11.12, "Continuing Directors" are
directors (a) who were in office prior to the time any of provisions (1), (2) or
(3) occurred or any person publicly announced an intention to acquire 20% or
more of any equity security of the Company, (b) directors in office for a period
of more than two years, and (c) directors nominated and approved by the
Continuing Directors.

         11.13. Definition of Fair Market Value. For purposes of this Plan, the
"Fair Market Value" of a share of Common Stock at a specified date shall, unless
otherwise expressly provided in this Plan, be the amount which the Committee
determines in good faith to be 100% of the fair market value of such a share as
of the date in question; provided, however, that notwithstanding the foregoing,
if such shares are listed on a U.S. securities exchange or are quoted on the
NASDAQ National Market System or

<PAGE>   13

NASDAQ Small-Cap Stock Market ("NASDAQ"), then Fair Market Value shall be
determined by reference to the last sale price of a share of Common Stock on
such U.S. securities exchange or NASDAQ on the applicable date. If such U.S.
securities exchange or NASDAQ is closed for trading on such date, or if the
Common Stock does not trade on such date, then the last sale price used shall be
the one on the date the Common Stock last traded on such U.S. securities
exchange or NASDAQ.<PAGE>   1

                                 LOAN AGREEMENT

         THIS LOAN AGREEMENT (this "Agreement") is made as of August 4, 2000, by
and between FFCA FUNDING CORPORATION, a Delaware corporation ("FFCA"), whose
address is 17207 North Perimeter Drive, Scottsdale, Arizona 85255, and FDA
PROPERTIES, INC., a Delaware corporation ("Debtor"), whose address is 7657
Anagram Drive, Eden Prairie, Minnesota 55344.

                             PRELIMINARY STATEMENT:

         Unless otherwise expressly provided herein, all defined terms used in
this Agreement shall have the meanings set forth in Section 1. Debtor has
requested from FFCA, and applied for, the Loans to provide refinancing for the
Premises, and for no other purpose whatsoever. Each Loan will be evidenced by a
Note and secured by a first priority security interest in the corresponding
Premises pursuant to a Mortgage. FFCA has committed to make the Loans pursuant
to the terms and conditions of the Commitment, this Agreement and the other Loan
Documents.

                                   AGREEMENT:

         In consideration of the mutual covenants and provisions of this
Agreement, the parties agree as follows:

         1. DEFINITIONS. The following terms shall have the following meanings
for all purposes of this Agreement:

         "Action" has the meaning set forth in Section 10.A(4).

         "Affiliate" means any Person which directly or indirectly controls, is
under common control with, or is controlled by any other Person. For purposes of
this definition, "controls", "under common control with" and "controlled by"
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of such Person, whether through
ownership of voting securities or otherwise.

         "Business Day" means any day on which banks located in Phoenix, Arizona
are open for business other than a Saturday, Sunday or a legal holiday, ending
at 5:00 PM Phoenix, Arizona time.

         "Capital Lease" has the meaning set forth in Section 7.B.

         "Closing" has the meaning set forth in Section 4.

         "Closing Date" has the meaning set forth in Section 4.

         "Code" means the United States Bankruptcy Code, 11 U.S.C. Sec. 101 et
seq., as amended.

<PAGE>   2
         "Commitment" means that certain Commitment Letter dated June 16, 2000
between FFCA and Debtor, and any amendments or supplements thereto.

         "Counsel" means legal counsel to Debtor and Lessee, licensed in the
state(s) in which (i) the Premises are located, (ii) Debtor and/or Lessee is
incorporated or formed and (iii) Debtor and/or Lessee resides or maintains its
chief executive offices, as selected by Debtor and Lessee, as the case may be,
and approved by FFCA.

         "Debt" has the meaning set forth in Section 7.B.

         "Debtor Entities" means, collectively, Debtor, Lessee and any Affiliate
of Debtor or Lessee.

         "De Minimis Amounts" means, with respect to any given level of
Hazardous Materials, that level or quantity of Hazardous Materials in any form
or combination of forms the use, storage or release of which does not constitute
a violation of or require regulation under any Environmental Laws and is
customarily employed in the ordinary course of, or associated with, similar
businesses located in the states in which the Premises are located.

         "Default Rate" has the meaning set forth in the Notes.

         "Depreciation and Amortization" has the meaning set forth in Section
7.B.

         "Disclosures" has the meaning set forth in Section 14.P.

         "Environmental Condition" means any condition with respect to soil,
surface waters, groundwaters, land, stream sediments, surface or subsurface
strata, ambient air and any environmental medium comprising or surrounding any
of the Premises, whether or not yet discovered, which could or does result in
any damage, loss, cost, expense, claim, demand, order or liability to or against
Debtor, Lessee or FFCA by any third party (including, without limitation, any
Governmental Authority), including, without limitation, any condition resulting
from the operation of Debtor's or Lessee's business at the Premises and/or the
operation of the business of any other property owner or operator in the
vicinity of the Premises and/or any activity or operation formerly conducted by
any person or entity on or off the Premises.

         "Environmental Indemnity Agreement" or "Environmental Indemnity
Agreements" means, as the context may require, the environmental indemnity
agreement dated as of the date of this Agreement to be executed by Debtor for
the benefit of the Indemnified Parties and such other parties as are identified
in such agreement with respect to a Premises or the environmental indemnity
agreements dated as of the date of this Agreement to be executed by Debtor for
the benefit of the Indemnified Parties and such other parties as are identified
in such agreement with respect to all of the Premises, as the same may be
amended from time to time. An Environmental Indemnity Agreement will be executed
for each Premises.

         "Environmental Insurer" means American International Specialty Lines
Insurance Company or such other environmental insurance company as FFCA may
select, in its sole discretion.

                                       2
<PAGE>   3
         "Environmental Laws" means any present and future federal, state and
local laws, statutes, ordinances, rules, regulations and the like, as well as
common law, relating to Hazardous Materials and/or the protection of human
health or the environment by reason of a Release or a Threatened Release of
Hazardous Materials or relating to liability for or costs of Remediation or
prevention of Releases. "Environmental Laws" includes, but is not limited to,
the following statutes, as amended, any successor thereto, and any regulations,
rulings, orders or decrees promulgated pursuant thereto, and any state or local
statutes, ordinances, rules, regulations and the like addressing similar issues:
the Comprehensive Environmental Response, Compensation and Liability Act; the
Emergency Planning and Community Right-to-Know Act; the Hazardous Materials
Transportation Act; the Resource Conservation and Recovery Act (including but
not limited to Subtitle I relating to underground storage tanks); the Solid
Waste Disposal Act; the Clean Water Act; the Clean Air Act; the Toxic Substances
Control Act; the Safe Drinking Water Act; the Occupational Safety and Health
Act; the Federal Water Pollution Control Act; the Federal Insecticide, Fungicide
and Rodenticide Act; the Endangered Species Act; the National Environmental
Policy Act; and the River and Harbors Appropriation Act. "Environmental Laws"
also includes, but is not limited to, any present and future federal, state and
local laws, statutes, ordinances, rules, regulations and the like, as well as
common law: conditioning transfer of property upon a negative declaration or
other approval of a Governmental Authority of the environmental condition of the
property; requiring notification or disclosure of Releases or other
environmental condition of the Premises to any Governmental Authority or other
person or entity, whether or not in connection with transfer of title to or
interest in property; imposing conditions or requirements relating to Hazardous
Materials in connection with permits or other authorization for lawful activity;
relating to nuisance, trespass or other causes of action related to Hazardous
Materials; and relating to wrongful death, personal injury, or property or other
damage in connection with the physical condition or use of the Premises by
reason of the presence of Hazardous Materials in, on, under or above the
Premises.

         "Environmental Policies" means environmental insurance policies issued
by Environmental Insurer to FFCA with respect to the Premises, which
Environmental Policies shall be in form and substance satisfactory to FFCA in
its sole discretion.

         "Equipment Payment Amount" has the meaning set forth in Section 7.B.

         "Event of Default" has the meaning set forth in Section 10.

         "FCCR Amount" has the meaning set forth in Section 10.A(6).

     "Fee" means an underwriting, site assessment, valuation, processing and
commitment fee equal to 1.0% of the sum of the Loan Amounts for all of the
Premises, which Fee shall be payable as set forth in Section 3.

         "FFCA Payments" has the meaning set forth in Section 7.B.

         "FFCA Entities" means, collectively, FFCA, Franchise Finance and any
Affiliate of FFCA or Franchise Finance.

         "Fixed Charge Coverage Ratio" has the meaning set forth in Section 7.B.

                                       3
<PAGE>   4
         "Franchise Finance" means Franchise Finance Corporation of America, a
Delaware corporation, and its successors.

         "GAAP" means generally accepted accounting principles consistently
applied.

         "Governmental Authority" means any governmental authority, agency,
department, commission, bureau, board, instrumentality, court or
quasi-governmental authority of the United States, the state(s) where the
Premises are located or any political subdivision thereof.

         "Gross Sales" has the meaning set forth in Section 7.B.

         "Hazardous Materials" means (a) any toxic substance or hazardous waste,
substance, solid waste or related material, or any pollutant or contaminant; (b)
radon gas, asbestos in any form which is or could become friable, urea
formaldehyde foam insulation, transformers or other equipment which contains
dielectric fluid containing levels of polychlorinated biphenyls in excess of
federal, state or local safety guidelines, whichever are more stringent, or any
petroleum product; (c) any substance, gas, material or chemical which is or may
be defined as or included in the definition of "hazardous substances," "toxic
substances," "hazardous materials," "hazardous wastes," "regulated substances"
or words of similar import under any Environmental Laws; and (d) any other
chemical, material, gas or substance the exposure to or release of which is or
may be prohibited, limited or regulated by any Governmental Authority that
asserts or may assert jurisdiction over the Premises or the operations or
activity at the Premises, or any chemical, material, gas or substance that does
or may pose a hazard to the health and/or safety of the occupants of the
Premises or the owners and/or occupants of property adjacent to or surrounding
the Premises.

         "Indemnified Parties" has the meaning set forth in Section 12.

         "Interest Expense" has the meaning set forth in Section 7.B.

         "Lease" means the master lease between Debtor, as lessor, and Lessee,
as lessee, with respect to all of the Premises, as the same may be amended from
time to time.

         "Lessee" means Famous Dave's of America, Inc., a Minnesota corporation,
and its successors, permitted assigns or any lessee subsequently agreed in
writing by FFCA.

         "Loan" or "Loans" means, as the context may require, the loan for each
Premises, or the loans for all of the Premises, described in Section 2.

         "Loan Amount" or "Loan Amounts" means, as the context may require, the
aggregate amount set forth in Section 2 or, with respect to each Premises, the
individual amount set forth in Exhibit A.

         "Loan Documents" means, collectively, this Agreement, the Notes, the
Mortgages, the Environmental Indemnity Agreements, the UCC-1 Financing
Statements and all other documents, instruments and agreements executed in
connection therewith or contemplated thereby.

                                       4
<PAGE>   5
         "Loan Pool" means:

         (i) in the context of a Securitzation, any pool or group of loans that
are a part of such Securitization;

         (ii) in the context of a Transfer, all loans which are sold,
transferred or assigned to the same transferee; and

         (iii) in the context of a Participation, all loans as to which
participating interests are granted to the same participant.

         "Lost Note" has the meaning set forth in Section 7.C.

         "Memoranda" has the meaning set forth in Section 9.K.

         "Modified FCCR Amount" has the meaning set forth in Section 10.A(6).

         "Mortgage" or "Mortgages" means, as the context may require, the deed
of trust or mortgage dated as of the date of this Agreement to be executed by
Debtor for the benefit of FFCA with respect to a Premises or the deeds of trust
or mortgages dated as of the date of this Agreement to be executed by Debtor for
the benefit of FFCA with respect to all of the Premises, as the same may be
amended from time to time. A Mortgage will be executed for each Premises.

         "Net Income" has the meaning set forth in Section 7.B.

         "Note" or "Notes" means, as the context may require, the promissory
note dated as of the date of this Agreement to be executed by Debtor in favor of
FFCA evidencing a Loan with respect to a Premises or the promissory notes dated
as of the date of this Agreement to be executed by Debtor in favor of FFCA
evidencing the Loans with respect to all of the Premises, as the same may be
amended, restated and/or substituted from time to time, including, without
limitation, as a result of the payment of the FCCR Amount or the Modified FCCR
Amount pursuant to Section 10. A Note will be executed for each Premises in the
Loan Amount corresponding to such Premises.

         "Operating Lease Expense" has the meaning set forth in Section 7.B.

         "Other Agreements" means, collectively, all agreements and instruments
between, among or by (1) any of the Debtor Entities, and, or for the benefit of,
(2) any of the FFCA Entities, including, without limitation, promissory notes
and guaranties; provided, however, the term "Other Agreements" shall not include
the agreements and instruments defined as the Loan Documents.

         "Participation" means one or more grants by FFCA or any of the other
FFCA Entities to a third party of a participating interest in notes evidencing
obligations to repay secured or unsecured loans owned by FFCA or any of the
other FFCA Entities or any and all servicing rights with respect thereto.

                                       5
<PAGE>   6
         "Permitted Concept" means a Famous Dave's restaurant or other
restaurant or retail concept approved in writing by FFCA in its reasonable
discretion.

         "Permitted Exceptions" means those recorded easements, restrictions,
liens and encumbrances set forth as exceptions in the title insurance policies
issued by Title Company to FFCA and approved by FFCA in its sole discretion in
connection with the closing of the Loans.

         "Person" means any individual, corporation, partnership, limited
liability company, trust, unincorporated organization, Governmental Authority or
any other form of entity.

         "Premises" means the parcel or parcels of real estate corresponding to
the FFCA File Numbers and addresses identified on Exhibit A attached hereto,
together with all rights, privileges and appurtenances associated therewith and
all buildings, fixtures and other improvements, equipment, trade fixtures,
appliances and other personal property now or hereafter located thereon (whether
or not affixed to such real estate). As used herein, the term "Premises" shall
mean either a singular property or all of the properties collectively, as the
context may require.

         "Questionnaires" means the environmental questionnaires completed by
Debtor or Lessee with respect to the Premises and submitted to Environmental
Insurer in connection with the issuance of the Environmental Policies.

         "Release" means any presence, release, deposit, discharge, emission,
leaking, spilling, seeping, migrating, injecting, pumping, pouring, emptying,
escaping, dumping, disposing or other movement of Hazardous Materials.

         "Remediation" means any response, remedial, removal, or corrective
action, any activity to cleanup, detoxify, decontaminate, contain or otherwise
remediate any Hazardous Material, any actions to prevent, cure or mitigate any
Release, any action to comply with any Environmental Laws or with any permits
issued pursuant thereto, any inspection, investigation, study, monitoring,
assessment, audit, sampling and testing, laboratory or other analysis, or any
evaluation relating to any Hazardous Materials.

         "Securitization" means one or more sales, dispositions, transfers or
assignments by FFCA or any of the other FFCA Entities to a special purpose
corporation, trust or other entity identified by FFCA or any of the other FFCA
Entities of notes evidencing obligations to repay secured or unsecured loans
owned by FFCA or any of the other FFCA Entities (and, to the extent applicable,
the subsequent sale, transfer or assignment of such notes to another special
purpose corporation, trust or other entity identified by FFCA or any of the
other FFCA Entities), and the issuance of bonds, certificates, notes or other
instruments evidencing interests in pools of such loans, whether in connection
with a permanent asset securitization or a sale of loans in anticipation of a
permanent asset securitization. Each Securitization shall be undertaken in
accordance with all requirements which may be imposed by the investors or the
rating agencies involved in each such sale, disposition, transfer or assignment
or which may be imposed by applicable securities, tax or other laws or
regulations, including, without limitation, laws relating to FFCA's status as a
real estate investment trust.

         "Selected Premises" has the meaning set forth in Section 10.A(6).

                                       6
<PAGE>   7
         "Subject Premises" has the meaning set forth in Section 10.A(6).

         "Substitute Documents" has the meaning set forth in Section 13.

         "Substitute Premises" means one or more parcels of real property
substituted for a Premises in accordance with the requirements of Section 13,
together with all rights, privileges and appurtenances associated therewith, and
all buildings, fixtures and other improvements, equipment, trade fixtures,
appliances and other personal property located thereon (whether or not affixed
to such real estate). For purposes of clarity, where two or more parcels of real
property comprise a Substitute Premises, such parcels or interests shall be
aggregated and deemed to constitute the Substitute Premises for all purposes of
this Agreement.

         "Substitute Premises Permitted Exceptions" has the meaning set forth in
Section 13.

         "Threatened Release" means a substantial likelihood of a Release which
requires action to prevent or mitigate damage to the soil, surface waters,
groundwaters, land, stream sediments, surface or subsurface strata, ambient air
or any other environmental medium comprising or surrounding the Premises which
may result from such Release.

         "Title Company" means the title insurance company described in
Section 4.

         "Transfer" means one or more sales, transfers or assignments by FFCA or
any of the other FFCA Entities to a third party of notes evidencing obligations
to repay secured or unsecured loan owned by FFCA or any of the other FFCA
Entities or any and all servicing rights with respect thereto.

         "UCC-1 Financing Statements" means such UCC-1 Financing Statements as
FFCA shall require to be executed and delivered by Debtor with respect to the
transactions contemplated by this Agreement.

         2. TRANSACTION. On the terms and subject to the conditions set forth in
the Loan Documents, FFCA shall make the Loans. The Loans will be evidenced by
the Notes and secured by the Mortgages. Debtor shall repay the outstanding
principal amount of the Loans together with interest thereon in the manner and
in accordance with the terms and conditions of the Notes and the other Loan
Documents. The aggregate Loan Amount shall be $3,500,000.00 allocated among the
Premises as set forth on the attached Exhibit A. The Loans shall be advanced at
the Closing in cash or otherwise immediately available funds subject to any
prorations and adjustments required by this Agreement. The Premises shall be
leased to the Lessee pursuant to the Lease and, at Closing, Debtor shall assign
the Lease to FFCA pursuant to the Mortgages.

         3. UNDERWRITING, SITE ASSESSMENT, VALUATION, PROCESSING AND COMMITMENT
FEE. Debtor paid FFCA a portion of the Fee pursuant to the Commitment, and such
portion was deemed fully earned when received. The remainder of the Fee shall be
paid at the Closing and shall be deemed nonrefundable and fully earned upon the
Closing. The Fee constitutes FFCA's underwriting, site assessment, valuation,
processing and commitment fee. In the event the transaction set forth in this
Agreement fails to close due to a breach or default by Debtor under this
Agreement, FFCA shall retain the portion of the Fee received by FFCA (without
affecting or limiting FFCA's remedies set forth in this Agreement).

                                       7
<PAGE>   8
         4. CLOSING. (a) Each Loan shall be closed (the "Closing") within 30
days following the satisfaction of all of the terms and conditions contained in
this Agreement, but in no event shall the date of the Closing be extended beyond
August 31, 2000, unless such extension shall be approved by FFCA in its sole
discretion (the date on which the Closing shall occur is referred to herein as
the "Closing Date").

         (b) FFCA has ordered a title insurance commitment for each Premises
from Lawyers Title Insurance Corporation ("Title Company"). Prior to the Closing
Date, the parties hereto shall deposit with Title Company all documents and
moneys necessary to comply with their obligations under this Agreement. All
costs of such transaction shall be borne by Debtor, including, without
limitation, the cost of title insurance and all endorsements required by FFCA,
survey charges, UCC and litigation search charges, the attorneys' fees of
Debtor, attorneys' fees and expenses of FFCA, the cost of the environmental
reports or Environmental Policies to be delivered pursuant to Section 9.E,
FFCA's in-house site inspection costs and fees, stamp taxes, mortgage taxes,
transfer fees, escrow and recording fees and site inspection fees for the
Premises. All real and personal property and other applicable taxes and
assessments and other charges relating to the Premises which are due and payable
on or prior to the Closing Date as well as taxes and assessments due and payable
subsequent to the Closing Date but which Title Company requires to be paid at
Closing as a condition to the issuance of the title insurance policy described
in Section 9.C, shall be paid by Debtor at or prior to the Closing. The Closing
documents shall be dated as of the Closing Date.

         Debtor and FFCA hereby employ Title Company to act as escrow agent in
connection with the transaction described in this Agreement. Title Company shall
not cause the transaction to close unless and until it has received written
instructions from FFCA and Debtor to do so. Debtor and FFCA will deliver to
Title Company all documents, pay to Title Company all sums and do or cause to be
done all other things necessary or required by this Agreement, in the reasonable
judgment of Title Company, to enable Title Company to comply herewith and to
enable any title insurance policy provided for herein to be issued. Title
Company is authorized to pay, from any funds held by it for FFCA's or Debtor's
respective credit all amounts necessary to procure the delivery of such
documents and to pay, on behalf of FFCA and Debtor, all charges and obligations
payable by them, respectively. Debtor will pay all charges payable by it to
Title Company. Title Company is authorized, in the event any conflicting demand
is made upon it concerning these instructions or the escrow, at its election, to
hold any documents and/or funds deposited hereunder until an action shall be
brought in a court of competent jurisdiction to determine the rights of Debtor
and FFCA or to interplead such documents and/or funds in an action brought in
any such court. Deposit by Title Company of such documents and funds, after
deducting therefrom its charges and its expenses and attorneys' fees incurred in
connection with any such court action, shall relieve Title Company of all
further liability and responsibility for such documents and funds. Title
Company's receipt of this Agreement and opening of an escrow pursuant to this
Agreement shall be deemed to constitute conclusive evidence of Title Company's
agreement to be bound by the terms and conditions of this Agreement pertaining
to Title Company. Disbursement of any funds shall be made by check, certified
check or wire transfer, as directed by Debtor and FFCA. Title Company shall be
under no obligation to disburse any funds represented by check or draft, and no
check or draft shall be payment to Title Company in compliance with any of the
requirements hereof, until it is advised by the bank in which such check or
draft is deposited that such check or draft has been honored. Title Company

                                       8
<PAGE>   9
is authorized to act upon any statement furnished by the holder or payee, or a
collection agent for the holder or payee, of any lien on or charge or assessment
in connection with the Premises, concerning the amount of such charge or
assessment or the amount secured by such lien, without liability or
responsibility for the accuracy of such statement. The employment of Title
Company as escrow agent shall not affect any rights of subrogation under the
terms of any title insurance policy issued pursuant to the provisions thereof.

         5. REPRESENTATIONS AND WARRANTIES OF FFCA. The representations and
warranties of FFCA contained in this Section are being made by FFCA as of the
date of this Agreement and the Closing Date to induce Debtor to enter into this
Agreement and consummate the transactions contemplated herein, and Debtor has
relied, and will continue to rely, upon such representations and warranties from
and after the execution of this Agreement and the Closing. FFCA represents and
warrants to Debtor as follows:

                  A. Organization of FFCA. FFCA has been duly formed, is validly
         existing and has taken all necessary action to authorize the execution,
         delivery and performance by FFCA of this Agreement.

                  B. Authority of FFCA. The person who has executed this
         Agreement on behalf of FFCA is duly authorized so to do.

                  C. Enforceability. Upon execution by FFCA, this Agreement
         shall constitute the legal, valid and binding obligation of FFCA,
         enforceable against FFCA in accordance with its terms.

         All representations and warranties of FFCA made in this Agreement shall
survive the Closing.

         6. REPRESENTATIONS AND WARRANTIES OF DEBTOR. The representations and
warranties of Debtor contained in this Section are being made by Debtor as of
the date of this Agreement and the Closing Date to induce FFCA to enter into
this Agreement and consummate the transactions contemplated herein, and FFCA has
relied, and will continue to rely, upon such representations and warranties from
and after the execution of this Agreement and the Closing. Debtor represents and
warrants to FFCA as follows:

                  A. Information and Financial Statements. Debtor has delivered
         to FFCA financial statements (either audited financial statements or,
         if Debtor does not have audited financial statements, certified
         financial statements) and certain other information concerning itself
         and Lessee, which financial statements and other information are true,
         correct and complete in all material respects; and no material adverse
         change has occurred with respect to any such financial statements and
         other information provided to FFCA since the date such financial
         statements and other information were prepared or delivered to FFCA.
         Debtor understands that FFCA is relying upon such financial statements
         and information and Debtor represents that such reliance is reasonable.
         All such financial statements were prepared in accordance with GAAP and
         accurately reflect as of the date of this Agreement and the Closing
         Date, the financial condition of each individual or entity to which
         they pertain.

                                       9
<PAGE>   10
                  B. Organization and Authority. (1) Each of Debtor and Lessee
         is duly organized or formed, validly existing and in good standing
         under the laws of its state of incorporation or formation, and
         qualified as a foreign corporation, partnership or limited liability
         company, as applicable, to do business in any jurisdiction where such
         qualification is required. All necessary corporate, partnership or
         limited liability company action has been taken to authorize the
         execution, delivery and performance of this Agreement and the other
         Loan Documents.

                  (2) The person(s) who have executed this Agreement on behalf
         of Debtor are duly authorized so to do.

                  C. Enforceability of Documents. Upon execution by Debtor and
         Lessee this Agreement and the other Loan Documents shall constitute the
         legal, valid and binding obligations of Debtor and Lessee,
         respectively, enforceable against Debtor and Lessee in accordance with
         their respective terms.

                  D. Litigation. There are no suits, actions, proceedings or
         investigations pending or to the best of Debtor's knowledge, threatened
         against or involving Debtor, Lessee or the Premises before any
         arbitrator or Governmental Authority which might reasonably result in
         any material adverse change in the contemplated business, condition,
         worth or operations of Debtor, Lessee or the Premises.

                  E. Absence of Breaches or Defaults. Debtor and Lessee are not,
         and the authorization, execution, delivery and performance of this
         Agreement and the other Loan Documents will not result, in any breach
         or default under any other document, instrument or agreement to which
         Debtor and/or Lessee are a party or by which Debtor, Lessee, the
         Premises or any of the property of Debtor or Lessee is subject or
         bound. The authorization, execution, delivery and performance of this
         Agreement and the other Loan Documents will not violate any applicable
         law, statute, regulation, rule, ordinance, code or order.

                  F. Utilities. The Premises are served by ample public
         utilities to permit full utilization of the Premises for their intended
         purpose and all utility connection fees and use charges will have been
         paid in full.

                  G. Intended Use and Zoning; Compliance With Laws. Debtor and
         Lessee intend to use each of the Premises solely for the operation of a
         Permitted Concept, and related ingress, egress and parking, and for no
         other purposes. Each of the Premises is in compliance with all
         applicable zoning requirements and the use of each of the Premises as a
         Permitted Concept does not constitute a nonconforming use under
         applicable zoning requirements. The Premises comply with all applicable
         statutes, regulations, rules, ordinances, codes, licenses, permits,
         orders and approvals of each Governmental Authority having jurisdiction
         over the Premises, including, without limitation, all health, building,
         fire, safety and other codes, ordinances and requirements, all
         applicable standards of the National Board of Fire Underwriters and the
         Americans With Disabilities Act of 1990 and all policies or rules of
         common law, in each case, as amended, and any judicial or
         administrative interpretation thereof, including any judicial order,
         consent, decree or judgment applicable to Debtor or Lessee.

                                       10
<PAGE>   11
                  H. Area Development; Wetlands. No condemnation or eminent
         domain proceedings affecting the Premises have been commenced or, to
         the best of Debtor's knowledge, are contemplated. To the best of
         Debtor's knowledge, the areas where the Premises are located have not
         been declared blighted by any Governmental Authority. To the best of
         Debtor's knowledge, the Premises and/or the real property bordering the
         Premises are not designated by any Governmental Authority as a
         wetlands.

                  I. Licenses and Permits; Access. Debtor or Lessee has all
         required licenses and permits, both governmental and private, to use
         and operate the Premises in the intended manner. There are adequate
         rights of access to public roads and ways available to the Premises for
         unrestricted ingress and egress and otherwise to permit full
         utilization of the Premises for their intended purposes and all such
         public roads and ways have been completed and dedicated to public use.

                  J. Condition of Premises. The Premises, including the
         equipment located thereon, are of good workmanship and materials, fully
         equipped and operational, in good condition and repair, free from
         structural defects, clean, orderly and sanitary, safe, well-lit,
         landscaped, decorated, attractive and well-maintained.

                  K. Environmental. Debtor is fully familiar with the present
         use of the Premises, and, after due inquiry, Debtor has become
         generally familiar with the prior uses of the Premises. Debtor has not
         and to the best of Debtor's knowledge, no Hazardous Materials have been
         used, handled, manufactured, generated, produced, stored, treated,
         processed, transferred or disposed of at or on the Premises, except in
         De Minimis Amounts, and no Release or Threatened Release has occurred
         at or on the Premises. The activities, operations and business
         undertaken on, at or about the Premises, including, but not limited to,
         any past or ongoing alterations or improvements at the Premises, are
         and to the best of Debtor's knowledge have been at all times, in
         compliance with all Environmental Laws. No further action is required
         to remedy any Environmental Condition or violation of, or to be in full
         compliance with, any Environmental Laws, and no lien has been imposed
         on the Premises by any Governmental Authority in connection with any
         Environmental Condition, the violation or threatened violation of any
         Environmental Laws or the presence of any Hazardous Materials on or off
         the Premises.

                  There is no pending or threatened litigation or proceeding
         before any Governmental Authority in which any person or entity alleges
         the violation or threatened violation of any Environmental Laws or the
         presence, Release, Threatened Release or placement on or at the
         Premises of any Hazardous Materials, or of any facts which would give
         rise to any such action, nor has Debtor (a) received any notice (and
         Debtor has no actual knowledge) that any Governmental Authority or any
         employee or agent thereof has determined, threatens to determine or
         requires an investigation to determine that there has been a violation
         of any Environmental Laws at, on or in connection with the Premises or
         that there exists a presence, Release, Threatened Release or placement
         of any Hazardous Materials on or at the Premises, or the use, handling,
         manufacturing, generation, production, storage, treatment, processing,
         transportation or disposal of any Hazardous Materials at or on the
         Premises; (b) received any notice under the citizen suit provision of
         any Environmental Law in connection with the Premises or any
         facilities, operations or activities conducted thereon, or

                                       11
<PAGE>   12
         any business conducted in connection therewith; or (c) received any
         request for inspection, request for information, notice, demand,
         administrative inquiry or any formal or informal complaint or claim
         with respect to or in connection with the violation or threatened
         violation of any Environmental Laws or existence of Hazardous Materials
         relating to the Premises or any facilities, operations or activities
         conducted thereon or any business conducted in connection therewith.

                  FFCA has charged Debtor a fee for the Environmental Policies.
         Debtor acknowledges that the Environmental Policies are for the sole
         protection of FFCA and will not protect Debtor or provide Debtor with
         any charge thereunder.

                  The information and disclosures in the Questionnaires are
         true, correct and complete in all material respects, FFCA and
         Environmental Insurer may rely on such information and disclosures, and
         the person or persons executing the Questionnaires were duly authorized
         to do so. Debtor acknowledges and agrees that Environmental Insurer may
         rely on the environmental representations and warranties set forth in
         the preceding subsection K, that Environmental Insurer is an intended
         third-party beneficiary of such representations and warranties and that
         Environmental Insurer shall have all rights and remedies available at
         law or in equity as a result of a breach of such representations and
         warranties, including, to the extent applicable, the right of
         subrogation.

                  L. Title to Premises; First Priority Lien. Fee title to each
         of the Premises is vested in Debtor, free and clear of all liens,
         encumbrances, charges and security interests of any nature whatsoever,
         except the Permitted Exceptions. Debtor is the owner of all equipment,
         trade fixtures, appliances and other personal property located on or at
         each of the Premises free and clear of all liens, encumbrances, charges
         and security interests of any nature whatsoever except for any
         equipment, trade fixtures, appliances and other personal property owned
         by Lessee. Upon Closing, FFCA shall have a first priority lien upon and
         security interest in Debtor's right, title and interest in and to each
         of the Premises pursuant to the Mortgages and the UCC-1 Financing
         Statements.

                  M. No Other Agreements and Options. Neither Debtor, Lessee nor
         the Premises are subject to any commitment, obligation, or agreement,
         including, without limitation, any right of first refusal, option to
         purchase or lease granted to a third party, which could or would
         prevent or hinder FFCA in making the Loans or exercising any of its
         rights or remedies under the Loan Documents or prevent or hinder Debtor
         or Lessee from fulfilling its obligations under this Agreement or the
         other Loan Documents.

                  N. No Mechanics' Liens. There are no outstanding accounts
         payable, mechanics' liens, or rights to claim a mechanics' lien in
         favor of any materialman, laborer, or any other person or entity in
         connection with labor or materials furnished to or performed on any
         portion of the Premises; no work has been performed or is in progress
         nor have materials been supplied to the Premises or agreements entered
         into for work to be performed or materials to be supplied to the
         Premises prior to the date hereof, which will not have been fully paid
         for on or before the Closing Date, or which might provide the basis for
         the filing of such liens against the Premises or any portion thereof;
         Debtor shall be responsible for any and all claims for mechanics' liens
         and accounts payable that have arisen or may

                                       12
<PAGE>   13
         subsequently arise due to agreements entered into for and/or any work
         performed on, or materials supplied to the Premises prior to the
         Closing Date; Debtor and Lessee have made no contract or arrangement of
         any kind the performance of which by the other party thereto would give
         rise to a lien on the Premises; and Debtor shall and does hereby agree
         to defend, indemnify and forever hold FFCA and FFCA's designees
         harmless for, from and against any and all such mechanics' lien claims,
         accounts payable or other commitments relating to the Premises.

                  O. No Reliance. Debtor acknowledges that FFCA did not prepare
         or assist in the preparation of any of the projected financial
         information used by Debtor in analyzing the economic viability and
         feasibility of the transaction contemplated by this Agreement.
         Furthermore, Debtor acknowledges that it has not relied upon, nor may
         it hereafter rely upon, the analysis undertaken by FFCA in determining
         the Loan Amounts, and such analysis will not be made available to
         Debtor.

                  P. Nonconsolidation. (1) Debtor maintains correct and complete
         books and records of account separate from all other Persons. Where
         necessary or appropriate, Debtor has disclosed the nature of the
         transaction contemplated by the Loan Documents and Debtor's independent
         status to its creditors. The Premises represent all of the assets owned
         or leased by Debtor as of the date hereof, and Debtor has not
         commingled its assets and its liabilities with those of any other
         Person.

                  (2) Debtor maintains its own checking account or accounts with
         commercial banking institutions separate from other Persons.

                  (3) To the extent that Debtor shares the same employees with
         other Persons, the salaries of and the expenses related to providing
         benefits to such employees have been fairly and nonarbitrarily
         allocated among such Persons, with the result that each such Person
         bears its fair share of the salary and benefit costs associated with
         all such common employees.

                  (4) To the extent that Debtor jointly contracts with other
         Persons to do business with vendors or service providers or to share
         overhead expenses, the costs incurred in so doing are, and at all times
         shall be, fairly and nonarbitrarily allocated among such Persons, with
         the result that each such Person bears its fair share of such costs. To
         the extent that Debtor contracts or does business with vendors or
         service providers where the goods or services provided are or shall be
         partially for the benefit of other Persons, the costs incurred in so
         doing are fairly and nonarbitrarily allocated to or among such Persons
         for whose benefit the goods or services are provided, with the result
         that each such Person bears its fair share of such costs.

                  (5) To the extent that Debtor or other Persons have offices in
         the same location, there is a fair, appropriate and nonarbitrary
         allocation of overhead among them, with the result that each such
         Person bears its fair share of such expenses.

                  (6) Debtor has not incurred any indebtedness, secured or
         unsecured, direct or indirect, absolute or contingent, including,
         without limitation, liability for the debts of any other Person (and
         Debtor has not held itself out as being liable for the debts of any
         other

                                       13
<PAGE>   14
         Person), other than the Loans and trade and operational debt incurred
         in the ordinary course of business with trade creditors and in amounts
         as are normal and reasonable under the circumstances. Debtor is not a
         guarantor of any obligations.

                  (7) Debtor is not presently a party to a pledge of its assets
         for the benefit of other Persons. Debtor has not made any loans or
         advances to any third party (including any Affiliate or constituent
         party of Debtor).

                  (8) Debtor has conducted its affairs strictly in accordance
         with its organizational documents including Debtor's corporate
         organizational documents and has observed all necessary, appropriate
         and customary formalities.

                  (9) Debtor does not hold itself out to the public or to any of
         its individual creditors as being a unified entity with assets and
         liabilities in common with any other Person.

                  (10) Debtor (i) is solvent, (ii) is able to pay its
         obligations as they become due and (iii) is not and shall not be
         engaged in any business or transaction for which its remaining capital
         is or may be unreasonably small.

                  (11) Debtor has no actual intent to hinder, delay or defraud
         creditors in connection with any of the transactions contemplated
         herein or intent to incur (or belief that it is incurring) debts beyond
         its ability to pay the same as they mature.

                  (12) Debtor has not, as to itself or as to other Persons, (a)
         commenced any case, proceeding or other action under any existing or
         future law of any jurisdiction, domestic or foreign, relating to
         bankruptcy, insolvency, reorganization or relief of debtors, seeking to
         have an order for relief entered with respect to Debtor or other
         Persons or seeking reorganization, arrangement, adjustment, winding-up,
         liquidation, dissolution, composition or other relief with respect to
         Debtor or its debts or other Persons or their debts or (b) sought
         appointment of a receiver, trustee, custodian or other similar official
         for Debtor or for all or any substantial part of its or other Person's
         assets or made a general assignment for the benefit of Debtor's
         creditors.

         All representations and warranties of Debtor made in this Agreement
shall be and will remain true and complete in all respects as of and subsequent
to the Closing Date as if made and restated in full as of such time and shall
survive the Closing.

         7. COVENANTS. Debtor covenants to FFCA from and after the Closing Date
as follows:

                  A. Inspections. Upon reasonable advance notice, Debtor shall,
         at all reasonable times, (i) provide FFCA and FFCA's officers,
         employees, agents, advisors, attorneys, accountants, architects, and
         engineers with access to the Premises, all drawings, plans, and
         specifications for the Premises in possession of Debtor or Lessee, all
         engineering reports relating to the Premises in the possession of
         Debtor or Lessee, the files, correspondence and documents relating to
         the Premises, and the financial books and records, including lists of
         delinquencies, relating to the ownership, operation, and maintenance of
         the Premises

                                       14
<PAGE>   15
         (including, without limitation, any of the foregoing information stored
         in any computer files), (ii) allow such persons to make such
         inspections, tests, copies, and verifications as FFCA considers
         necessary, and (iii) if Debtor is in breach of the Fixed Charge
         Coverage Ratio requirement set forth in the following Subsection B
         beyond applicable notice and cure periods, pay expenses reasonably
         incurred by FFCA from time to time in conducting such inspections,
         tests, copies and verifications upon demand (such amounts to bear
         interest at the Default Rate if not paid upon demand until paid).

                  B. Fixed Charge Coverage Ratio. Until such time as all of
         Debtor's obligations under the Notes and the other Loan Documents are
         paid, satisfied and discharged in full, Debtor shall cause to be
         maintained an aggregate Fixed Charge Coverage Ratio at all of the
         Premises of at least 1.25:1, as determined on the last day of each
         fiscal year of Debtor. For purposes of this Section, the term "Fixed
         Charge Coverage Ratio" shall mean with respect to the twelve month
         period of time immediately preceding the date of determination, the
         ratio calculated for such period of time, each as determined in
         accordance with GAAP, of (a) the sum of Net Income (including proceeds
         from business interruption insurance payments, if any), Depreciation
         and Amortization, Interest Expense and Operating Lease Expense, less a
         corporate overhead allocation in an amount equal to 5% of Gross Sales,
         to (b) the sum of the FFCA Payments, Operating Lease Expense and the
         Equipment Payment Amount.

         For purposes of this Section, the following terms shall be defined as
set forth below:

                           "Capital Lease" shall mean any lease of any property
                  (whether real, personal or mixed) by Lessee with respect to
                  one or more of the Premises which lease would, in conformity
                  with GAAP, be required to be accounted for as a capital lease
                  on the balance sheet of Lessee. The term "Capital Lease" shall
                  not include any operating lease.

                           "Debt" shall mean as directly related to all of the
                  Premises and the period of determination (i) indebtedness for
                  borrowed money, (ii) obligations evidenced by bonds,
                  indentures, notes or similar instruments, (iii) obligations to
                  pay the deferred purchase price of property or services, (iv)
                  obligations under leases which should be, in accordance with
                  GAAP, accounted for as Capital Leases, and (v) obligations
                  under direct or indirect guarantees in respect of, and
                  obligations (contingent or otherwise) to purchase or otherwise
                  acquire, or otherwise to assure a creditor against loss in
                  respect of, indebtedness or obligations of others of the kinds
                  referred to in clauses (i) through (iv) above.

                           "Depreciation and Amortization" shall mean with
                  respect to all of the Premises the depreciation and
                  amortization accruing during any period of determination with
                  respect to Debtor as determined in accordance with GAAP.

                           "Equipment Payment Amount" shall mean for any period
                  of determination the sum of all amounts payable during such
                  period of determination under all (i) leases for equipment
                  located at one or more of the Premises and (ii) all loans
                  secured by equipment located at one or more of the Premises.

                                       15
<PAGE>   16
                           "FFCA Payments" shall mean with respect to the period
                  of determination, the sum of all amounts payable under the
                  Notes.

                           "Gross Sales" shall mean the sales or other income
                  arising from all business conducted at all of the Premises by
                  Lessee during the period of determination, less sales tax,
                  credit card commission and complimentary sales, as presented
                  in Lessee's publicly disclosed financial statements, and any
                  amounts received from not-for-profit sales of all non-food
                  items approved for use in connection with promotional
                  campaigns, if any, for all of the Premises.

                           "Interest Expense" shall mean for any period of
                  determination, the sum of all interest accrued or which should
                  be accrued in respect of all Debt of Lessee allocable to one
                  or more of the Premises and all business operations thereon
                  during such period (including interest attributable to Capital
                  Leases), as determined in accordance with GAAP.

                           "Net Income" shall mean with respect to the period of
                  determination, the aggregate net income or net loss of Lessee
                  allocable to all of the Premises. In determining the amount of
                  Net Income, (i) adjustments shall be made for nonrecurring
                  gains and losses allocable to the period of determination,
                  (ii) deductions shall be made for Depreciation and
                  Amortization, Interest Expense and Operating Lease Expense
                  allocable to the period of determination, and (iii) no
                  deductions shall be made for (x) income taxes or charges
                  equivalent to income taxes allocable to the period of
                  determination, as determined in accordance with GAAP, or (y)
                  corporate overhead expense allocable to the period of
                  determination.

                           "Operating Lease Expense" shall mean the sum of all
                  payments and expenses incurred by Lessee under any operating
                  leases with respect to one or more of the Premises and the
                  business operations thereon during the period of
                  determination, as determined in accordance with GAAP.

                  Notwithstanding the foregoing, FFCA shall have the right to
         divide the Loans (each such Loan to be endorsed by a Note and by the
         Loan Documents corresponding to such Note) into one or more Loan Pools
         in connection with one or more Securitizations, Participations or
         Transfers. If any Loan Pool does not include all of the Loans, Debtor
         shall maintain with respect to the Loans in each Loan Pool an aggregate
         Fixed Charge Coverage Ratio, as determined on the date set forth above,
         of at least 1.25:1 for all of the Premises corresponding to the Loans
         in such Loan Pool, which Fixed Charge Coverage Ratio requirement shall
         be in addition to the requirement to maintain an aggregate Fixed Charge
         Coverage Ratio of at least 1:25:1 for all of the Premises as set forth
         above, and shall apply until such time as all of the Debtor's
         obligations under the Notes and the other Loan Documents corresponding
         to such Loans are paid, satisfied and discharged in full. To the extent
         that an aggregate Fixed Charge Coverage Ratio requirement is imposed by
         FFCA with respect to the Loans in any Loan Pool, for the purposes of
         determining whether or not such Fixed Charge Coverage Ratio requirement
         has been satisfied, the definitions relating to the Fixed Charge
         Coverage Ratio shall be deemed to be modified

                                       16
<PAGE>   17
         as applicable to provide for the calculation of the aggregate Fixed
         Charge Coverage Ratio for all of the Premises corresponding to such
         Loan Pool rather than a calculation of the aggregate Fixed Charge
         Coverage Ratio for all of the Premises.

                  C. Lost Note. Debtor shall, if any Note is mutilated,
         destroyed, lost or stolen (a "Lost Note"), promptly deliver to FFCA,
         upon receipt of an affidavit from FFCA stipulating that such Note has
         been mutilated, destroyed, lost or stolen, in substitution therefor, a
         new promissory note containing the same terms and conditions as such
         Lost Note with a notation thereon of the unpaid principal and accrued
         and unpaid interest. Debtor shall provide fifteen (15) days' prior
         notice to FFCA before making any payments to third parties in
         connection with a Lost Note.

                  D. Affiliate Transactions. Unless otherwise approved by FFCA,
         all transactions between Debtor and any of its Affiliates shall be on
         terms substantially as advantageous to Debtor as those which could be
         obtained by Debtor in a comparable arm's length transaction with a
         non-Affiliate of Debtor.

                  E. Lease Modifications. The Lease shall not be modified,
         amended, terminated, cancelled or surrendered without FFCA's prior
         written consent.

                  F. Nonconsolidation. (1) Debtor shall at all times maintain
         correct and complete books and records of account separate from all
         other Persons. Where necessary or appropriate, Debtor shall disclose
         the nature of the transaction contemplated by the Loan Documents and
         Debtor's independent status to its creditors. Debtor shall not own or
         lease any assets other than the Premises, nor engage in any business
         other than owning and leasing the Premises, including financing the
         Premises with FFCA. Debtor shall not commingle its assets and its
         liabilities with those of any other Person.

                  (2) Debtor shall maintain its own checking account or accounts
         with commercial banking institutions separate from other Persons.

                  (3) To the extent that Debtor shares the same employees with
         other Persons, the salaries of and the expenses related to providing
         benefits to such employees, at all times shall be, fairly and
         nonarbitrarily allocated among such Persons, with the result that each
         such Person shall bear its fair share of the salary and benefit costs
         associated with all such common employees.

                  (4) To the extent that Debtor jointly contracts with other
         Persons to do business with vendors or service providers or to share
         overhead expenses, the costs incurred in so doing at all times shall
         be, fairly and nonarbitrarily allocated among such Persons, with the
         result that each such Person shall bear its fair share of such costs.
         To the extent that Debtor contracts or does business with vendors or
         service providers where the goods or services provided are or shall be
         partially for the benefit of other Persons, the costs incurred in so
         doing at all times shall be, fairly and nonarbitrarily allocated to or
         among such Persons for whose benefit the goods or services are
         provided, with the result that each such Person shall bear its fair
         share of such costs. All transactions between Debtor and other Persons
         shall be only on an arm's-length basis.

                                       17
<PAGE>   18
                  (5) To the extent that Debtor or other Persons have offices in
         the same location, there shall be a fair, appropriate and nonarbitrary
         allocation of overhead among them, with the result that each such
         Person shall bear its fair share of such expenses.

                  (6) Debtor shall not incur any indebtedness, secured or
         unsecured, direct or indirect, absolute or contingent (including
         guaranteeing any obligation or assuming liability for the debts of any
         other Person and Debtor will not hold itself out as being liable for
         the debts of any other Person), other than the Loans and trade and
         operational debt incurred in the ordinary course of business with trade
         creditors and in amounts as are normal and reasonable under the
         circumstances. No indebtedness other than the Loans may be secured
         (subordinate or pari passu) by the Premises or any portion thereof.

                  (7) Debtor shall not enter into any contract or agreement with
         any Affiliate of Debtor, any constituent party of Debtor or any
         Affiliate of any constituent party of Debtor except upon terms and
         conditions that are intrinsically fair and substantially similar to
         those that would be available on an arms-length basis with third
         parties other than any such party.

                  (8) Except as contemplated by the Loan Documents, Debtor shall
         not pledge, grant any security interest in, hypothecate or otherwise
         encumber its assets for the benefit of any other Persons.

                  (9) Debtor shall issue separate financial statements prepared
         not less frequently than annually and prepared according to GAAP.

                  (10) Debtor shall maintain adequate capital for the normal
         obligations reasonably foreseeable in a business of its size and
         character in light of its contemplated business operations.

                  (11) Debtor shall conduct its affairs strictly in accordance
         with its organizational documents, including Debtor's corporate
         organizational documents and shall observe all necessary, appropriate
         and customary formalities. The books, records and accounts of Debtor
         shall at all times be maintained in a manner permitting the assets and
         liabilities of Debtor to be easily separated and readily ascertained
         from those of any other Person and Debtor shall file its own tax
         returns.

                  (12) Debtor shall not hold itself out to the public or to any
         of its individual creditors as being a unified entity with assets and
         liabilities in common with any other Person. Debtor shall maintain and
         utilize separate stationery, invoices and checks.

                  (13) Debtor shall not make any loans or advances to any third
         party (including any Affiliate of Debtor or constituent party of
         Debtor).

                  (14) Debtor shall not, as to itself or as to other Persons,
         (i) commence any case, proceeding or other action under any existing or
         future law of any jurisdiction, domestic or foreign, relating to
         bankruptcy, insolvency, reorganization or relief of debtors, seeking to
         have an order for relief entered with respect to Debtor or other
         Persons or seeking reorganization, arrangement, adjustment, winding-up,
         liquidation, dissolution, composition or other relief with respect to
         Debtor or its debts or other Persons or their debts or (ii) seek

                                       18
<PAGE>   19
         appointment of a receiver, trustee, custodian or other similar official
         for Debtor or for all or any substantial part of its or other Person's
         assets or make a general assignment for the benefit of Debtor's
         creditors. Debtor shall not take any action in furtherance of, or
         indicating its consents to, approval of or acquiescence in, any of the
         acts set forth above. Debtor shall not be unable to, or admit in
         writing its inability to, pay its debts.

         8. TRANSACTION CHARACTERIZATION. This Agreement is a contract to extend
a financial accommodation (as such term is used in the Code) for the benefit of
Debtor. It is the intent of the parties hereto that the business relationship
created by this Agreement, the Notes, the Mortgages and the other Loan Documents
is solely that of creditor and debtor and has been entered into by both parties
in reliance upon the economic and legal bargains contained in the Loan
Documents. None of the agreements contained in the Loan Documents is intended,
nor shall the same be deemed or construed, to create a partnership (either de
jure or de facto) between Debtor, Lessee and FFCA, to make them joint venturers,
to make Debtor or Lessee an agent, legal representative, partner, subsidiary or
employee of FFCA, nor to make FFCA in any way responsible for the debts,
obligations or losses of Debtor or Lessee.

         9. CONDITIONS OF CLOSING. The obligation of FFCA to consummate the
transaction contemplated by this Agreement is subject to the fulfillment or
waiver of each of the following conditions:

                  A. Title. Fee title to each of the Premises shall be vested in
         Debtor, free of all liens, encumbrances, restrictions, encroachments
         and easements, except the Permitted Exceptions and the liens created by
         the Mortgages and the UCC-1 Financing Statements. Debtor shall be the
         owner of all of the equipment, trade fixtures, appliances and other
         personal property located on or at each of the Premises free and clear
         of all liens, encumbrances, charges and security interests, except the
         liens created by the Mortgages and the UCC-1 Financing Statements. Upon
         Closing, FFCA will obtain a valid and perfected first priority lien
         upon and security interest in Debtor's right, title and interest in and
         to each of the Premises.

                  B. Condition of Premises. FFCA shall have inspected and
         approved the Premises and the equipment located thereon shall be in
         good condition and repair, free from structural defects, and of good
         workmanship and materials, and the Premises shall be fully equipped and
         operational, clean, orderly, sanitary, safe, well-lit, landscaped,
         decorated, attractive and with a suitable layout, physical plant,
         traffic pattern and location, all as determined by FFCA in its sole
         discretion.

                  C. Evidence of Title. FFCA shall have received for each of the
         Premises a preliminary title report and irrevocable commitment to
         insure title in the amount of the Loan relating to such Premises, by
         means of a mortgagee's, ALTA extended coverage policy of title
         insurance (or its equivalent, in the event such form is not issued in
         the jurisdiction where the Premises is located) issued by Title Company
         showing good and marketable fee title, in such Premises in Debtor,
         committing to insure FFCA's first priority lien upon and security
         interest in such Premises subject only to Permitted Exceptions, and
         containing such endorsements as FFCA may require. FFCA shall also have
         received evidence reasonably satisfactory to FFCA that Debtor is the
         owner of all of the equipment, trade fixtures,

                                       19
<PAGE>   20
         appliances and other personal property located on or at each of the
         Premises free and clear of all liens, encumbrances, charges and
         security interests, except the liens created by the Mortgages and the
         UCC-1 Financing Statements.

                  D. Survey. FFCA shall have received a current ALTA survey of
         each of the Premises, the form and substance of which shall be
         satisfactory to FFCA in its sole discretion. Debtor shall have provided
         FFCA with evidence satisfactory to FFCA that the location of each of
         the Premises is not within the 100-year flood plain or identified as a
         special flood hazard area as defined by the Federal Insurance
         Administration, or if any Premises is in such a flood plain or special
         flood hazard area, Debtor shall provide FFCA with evidence of flood
         insurance maintained on such Premises in amounts and on terms and
         conditions satisfactory to FFCA.

                  E. Environmental. FFCA shall have received (i) a Phase I
         environmental report (and a Phase II environmental report, if
         necessary, as determined by FFCA in its sole discretion) for each of
         the Premises, the form, substance and conclusions of which shall be
         satisfactory to FFCA in its sole discretion, and/or (ii) an
         Environmental Policy with respect to each of the Premises, as
         determined by FFCA in its sole discretion.

                  F. Zoning. Debtor shall have provided FFCA with evidence
         satisfactory to FFCA that each of the Premises is properly zoned for
         use as a Permitted Concept and that such use constitutes a legal,
         conforming use under applicable zoning requirements.

                  G. Compliance With Representations, Warranties and Covenants.
         All obligations of Debtor under this Agreement shall have been fully
         performed and complied with, and no event shall have occurred or
         condition shall exist which would, upon the Closing Date, or, upon the
         giving of notice and/or passage of time, constitute a breach or default
         hereunder or under the Loan Documents or any other agreement between or
         among FFCA, Debtor or Lessee pertaining to the subject matter hereof,
         and no event shall have occurred or condition shall exist or
         information shall have been disclosed by Debtor or discovered by FFCA
         which has had or would have a material adverse effect on the Premises,
         Debtor, Lessee or FFCA's willingness to consummate the transaction
         contemplated by this Agreement, as determined by FFCA in its sole and
         absolute discretion.

                  H. Proof of Insurance. Debtor shall have delivered to FFCA
         certificates of insurance and copies of insurance policies showing that
         all insurance required by the Loan Documents and providing coverage and
         limits satisfactory to FFCA are in full force and effect.

                  I. Opinion of Counsel to Debtor and Lessee. Debtor and Lessee
         shall have caused Counsel to prepare and deliver an opinion to FFCA in
         form and substance satisfactory to FFCA and its counsel.

                  J. Availability of Funds. FFCA presently has sufficient funds
         to discharge its obligations under this Agreement. In the event that
         the transaction contemplated by this Agreement does not close on or
         before the date established for Closing under Section 4(a)

                                       20
<PAGE>   21
         hereof, FFCA does not warrant that it will thereafter have sufficient
         funds to consummate the transaction contemplated by this Agreement.

                  K. Lease; Memoranda. Debtor and Lessee shall have executed and
         delivered the Lease, and provided FFCA with a copy of a recorded
         memorandum of lease (collectively, the "Memoranda") for each of the
         Premises.

                  L. Closing Documents. At or prior to the Closing Date, FFCA
         and/or Debtor, as may be appropriate, shall execute and deliver or
         cause to be executed and delivered to Title Company or FFCA, as may be
         appropriate, all documents required to be delivered by this Agreement,
         and such other documents, payments, instruments and certificates, as
         FFCA may require in form acceptable to FFCA, including, without
         limitation, the following:

                           (1)      Notes;
                           (2)      Mortgages;
                           (3)      Proof of Insurance;
                           (4)      Opinion of Counsel to Debtor and Lessee;
                           (5)      Evidence of satisfactory zoning;
                           (6)      UCC-1 Financing Statements;
                           (7)      Environmental Indemnity Agreements; and
                           (8)      Lease and Memoranda.

Upon fulfillment or waiver of all of the above conditions, FFCA shall deposit
funds necessary to close this transaction with the Title Company and this
transaction shall close in accordance with the terms and conditions of this
Agreement.

         10. DEFAULT AND REMEDIES. A. Each of the following shall be deemed an
event of default by Debtor (each, an "Event of Default"):

                  (1) If any representation or warranty of Debtor or Lessee set
         forth in any of the Loan Documents is false in any material respect, or
         if Debtor or Lessee renders any false statement or account.

                  (2) If any principal, interest or other monetary sum due under
         the Notes, the Mortgages or any other Loan Document is not paid within
         five days after the date when due; provided, however, notwithstanding
         the occurrence of such an Event of Default, FFCA shall not be entitled
         to exercise its rights and remedies set forth below unless and until
         FFCA shall have given Debtor notice thereof and a period of five days
         from the delivery of such notice shall have elapsed without such Event
         of Default being cured.

                  (3) If Debtor fails to observe or perform any of the other
         covenants (except with respect to a breach of the Fixed Charge Coverage
         Ratio, which breach is addressed in subitem (6) below), conditions, or
         obligations of this Agreement; provided, however, if any such failure
         does not involve the payment of any monetary sum, is not willful or
         intentional, does not place any rights or interest in collateral of
         FFCA in immediate jeopardy, and is within the reasonable power of
         Debtor to promptly cure after receipt of notice thereof, all as
         determined by FFCA in its reasonable discretion, then such failure
         shall not constitute an Event of Default hereunder, unless otherwise
         expressly provided

                                       21
<PAGE>   22
         herein, unless and until FFCA shall have given Debtor notice thereof
         and a period of 30 days shall have elapsed, during which period Debtor
         may correct or cure such failure, upon failure of which an Event of
         Default shall be deemed to have occurred hereunder without further
         notice or demand of any kind being required. If such failure cannot
         reasonably be cured within such 30-day period, as determined by FFCA in
         its reasonable discretion, and Debtor is diligently pursuing a cure of
         such failure, then Debtor shall have a reasonable period to cure such
         failure beyond such 30-day period, which shall not exceed 90 days after
         receiving notice of the failure from FFCA. If Debtor shall fail to
         correct or cure such failure within such 90-day period, an Event of
         Default shall be deemed to have occurred hereunder without further
         notice or demand of any kind being required.

                  (4) If Debtor or Lessee becomes insolvent within the meaning
         of the Code, files or notifies FFCA that it intends to file a petition
         under the Code, initiates a proceeding under any similar law or statute
         relating to bankruptcy, insolvency, reorganization, winding up or
         adjustment of debts (collectively, an "Action"), becomes the subject of
         either a petition under the Code or an Action, or is not generally
         paying its debts as the same become due.

                  (5) If there is an "Event of Default" under any other Loan
         Document, the Lease or a breach or default, after the passage of all
         applicable notice and cure or grace periods, under any of the Other
         Agreements.

                  (6) If there is a breach of the Fixed Charge Coverage Ratio
         requirement and FFCA shall have given Debtor notice thereof and Debtor
         shall have failed within a period of 30 days from the delivery of such
         notice to either (i) pay to FFCA the FCCR Amount (without premium or
         penalty) with respect to such of the Premises (starting with the
         Premises with the lowest Fixed Charge Coverage Ratio and proceeding in
         ascending order to the Premises with the next lowest Fixed Charge
         Coverage Ratio) as is necessary to cure the breach of the Fixed Charge
         Coverage Ratio requirement and for which the then Fixed Charge Coverage
         Ratio (with the definitions in Section 7.B being deemed to be modified
         as applicable to provide for the calculation of the Fixed Charge
         Coverage Ratio for each such Premises on an individual basis rather
         than on an aggregate basis with the other Premises) is below 1.25:1
         (each, a "Subject Premises"), (ii) prepay the Note or Notes
         corresponding to the Subject Premises in whole but not in part (without
         premium or penalty), or (iii) notify FFCA of Debtor's election to
         substitute a Substitute Premises for each Subject Premises in
         accordance with the terms of Section 13 (the failure of Debtor to
         complete such substitution within 60 days after FFCA shall have given
         the notice discussed above shall be deemed to be an Event of Default
         without further notice or demand of any kind being required). For
         purposes of the preceding sentence, "FCCR Amount" means that sum of
         money which, when subtracted from the outstanding principal amount of
         the Note corresponding to a Subject Premises, and assuming the
         resulting principal balance is reamortized in equal monthly payments
         over the remaining term of such Note at the rate of interest set forth
         therein, will result in an adjusted aggregate Fixed Charge Coverage
         Ratio for all of the Premises of at least 1.25:1 based on the prior
         year's operations. Promptly after Debtor's payment of the FCCR Amount,
         Debtor and FFCA shall execute an amendment to each such Note in form
         and substance reasonably acceptable to FFCA reducing the principal
         amount payable to FFCA under such Note and reamortizing the principal
         amount of such Note in

                                       22
<PAGE>   23
         equal monthly payments over the then remaining term of such Note at the
         rate of interest set forth therein.

                  Notwithstanding the foregoing, to the extent that, in
         accordance with the provisions of Section 7.B, FFCA shall have imposed
         an aggregate Fixed Charge Coverage Ratio requirement with respect to
         all of the Premises corresponding to the Loans in any Loan Pool,
         then, in order to prevent an Event of Default from occurring by
         reason of a breach of such aggregate Fixed Charge Coverage Ratio
         requirement, Debtor must either (i) pay to FFCA the Modified FCCR
         Amount (without premium or penalty) within the aforesaid 30 day period
         with respect to such of the Premises corresponding to the Loans in such
         Loan Pool (starting with the Premises with the lowest Fixed Charge
         Coverage Ratio and proceeding in ascending order to the Premises
         with the next lowest Fixed Charge Coverage Ratio) as is necessary to
         cure the breach of such aggregate Fixed Charge Coverage Ratio
         requirement and for which the then Fixed Charge Coverage Ratio (with
         the definitions relating to the Fixed Charge Coverage Ratio being
         deemed to be modified as applicable to provide for the calculation of
         the Fixed Charge Coverage Ratio for each such Premises on an individual
         basis rather than on an aggregate basis with the other Premises
         corresponding to the Loans in such Securitized Loan Pool) is below
         1.25:1 (each a "Selected Premises"), (ii) prepay the Note or Notes
         corresponding to the Selected Premises in whole but not in part
         (without premium or penalty) within the aforesaid 30 day period, or
         (iii) notify FFCA of Debtor's election to substitute a Substitute
         Premises for each Selected Premises in accordance with the terms of
         Section 13 (the failure of Debtor to complete such substitution within
         60 days after FFCA shall have given Debtor the notice discussed above
         shall be deemed to be an Event of Default without further notice or
         demand of any kind being required). For purposes of the preceding
         sentence, "Modified FCCR Amount" means that sum of money which, when
         subtracted from the outstanding principal amount of the Note
         corresponding to a Selected Premises, and assuming the resulting
         principal balance is reamortized in equal monthly payments over the
         remaining term of such Note at the rate of interest set forth therein,
         will result in an adjusted aggregate Fixed Charge Coverage Ratio for
         all of the Premises corresponding to the Loans in such Loan Pool
         of at least 1.25:1 based on the prior year's operations. Promptly
         after Debtor's payment of the Modified FCCR Amount, Debtor and FFCA
         shall execute an amendment to each such Note in form and substance
         reasonably acceptable to FFCA reducing the principal amount payable to
         FFCA under such Note and reamortizing the principal amount of such Note
         in equal monthly payments over the then remaining term of such Note at
         the rate of interest set forth therein.

         B. Upon the occurrence of an Event of Default, subject to the
limitations set forth in subsection A, FFCA may declare all or any part of the
obligations of Debtor under the Notes, this Agreement and any other Loan
Document to be due and payable, and the same shall thereupon become due and
payable without any presentment, demand, protest or notice of any kind except as
otherwise expressly provided herein, and Debtor hereby waives notice of intent
to accelerate the obligations secured by the Mortgages and notice of
acceleration. Thereafter, FFCA may exercise, at its option, concurrently,
successively or in any combination, all remedies available at law or in equity,
including without limitation any one or more of the remedies available under the
Notes, the Mortgages or any other Loan Document. Neither the acceptance of this
Agreement nor its enforcement shall prejudice or in any manner affect FFCA's
right to realize upon or enforce any other security now or hereafter held by
FFCA, it being agreed that

                                       23
<PAGE>   24
FFCA shall be entitled to enforce this Agreement and any other security now or
hereafter held by FFCA in such order and manner as it may in its absolute
discretion determine. No remedy herein conferred upon or reserved to FFCA is
intended to be exclusive of any other remedy given hereunder or now or hereafter
existing at law or in equity or by statute. Every power or remedy given by any
of the Loan Documents to FFCA, or to which FFCA may be otherwise entitled, may
be exercised, concurrently or independently, from time to time and as often as
may be deemed expedient by FFCA.

         11. ASSIGNMENTS. A. FFCA may assign in whole or in part its rights
under this Agreement, including, without limitation, in connection with any
Transfer, Participation and/or Securitization. Upon any unconditional assignment
of FFCA's entire right and interest hereunder, FFCA shall automatically be
relieved, from and after the date of such assignment, of liability for the
performance of any obligation of FFCA contained herein.

         B. Debtor shall not, without the prior written consent of FFCA, sell,
assign, transfer, mortgage, convey, encumber or grant any easements or other
rights or interests of any kind in the Premises, any of Debtor's rights under
this Agreement or any interest in Debtor, whether voluntarily, involuntarily or
by operation of law or otherwise, including, without limitation, by merger,
consolidation, dissolution or otherwise, except, subsequent to the Closing, as
expressly permitted by the Mortgages.

         12. INDEMNITY. Debtor agrees to indemnify, hold harmless and defend
FFCA and its directors, officers, shareholders, employees, successors, assigns,
agents, contractors, subcontractors, experts, licensees, affiliates, lessees,
lenders, mortgagees, trustees and invitees, as applicable (collectively, the
"Indemnified Parties"), for, from and against any and all losses, costs, claims,
liabilities, damages and expenses, including, without limitation, reasonable
attorneys' fees and court costs, arising as the result of an Environmental
Condition and/or a breach of any of the representations, warranties, covenants,
agreements or obligations of Debtor set forth in this Agreement or any other
Loan Document. Without limiting the generality of the foregoing, such indemnity
shall include, without limitation, any engineering, governmental inspection and
reasonable attorneys' fees and expenses that the Indemnified Parties may incur
by reason of any representation set forth in this Agreement being false, or by
reason of any investigation or claim of any Governmental Authority in connection
therewith.

         13. SUBSTITUTION. Debtor shall have the right to obtain a release of
all liens granted in favor of FFCA with respect to a Premises by substituting a
Substitute Premises for such Premises if permitted by the terms of Section
10.A(6), subject to fulfillment of the following conditions:

                  (i) Debtor shall provide FFCA with notice of its intention to
         substitute a Substitute Premises within the applicable 30 day period
         contemplated by Section 10.A(6) and the closing of the substitution
         shall take place within the applicable 60 day period contemplated by
         such subsection.

                  (ii) Debtor must provide for the substitution of a Substitute
         Premises, and the proposed Substitute Premises must:

                                       24
<PAGE>   25
                           (1) be a Permitted Concept, in good condition and
                  repair, ordinary wear and tear excepted;

                           (2) have for the twelve month period preceding the
                  date of the closing of such substitution a Fixed Charge
                  Coverage Ratio (with the definitions of Section 7.B being
                  deemed to be modified if necessary and as applicable to
                  provide for a calculation of the Fixed Charge Coverage Ratio
                  for each of the Premises on an individual basis rather than on
                  an aggregate basis with the other Premises) at least equal to
                  the Fixed Charge Coverage Ratio for the Premises being
                  replaced and the substitution must not cause a breach of any
                  Fixed Charge Coverage Ratio requirement otherwise set forth in
                  this Agreement;

                           (3) be owned in fee simple by Debtor;

                           (4) Debtor's right, title and interest in and to each
                  proposed Substitute Premises shall be free and clear of all
                  liens, restrictions, easements and encumbrances, except such
                  matters as are acceptable to FFCA (the "Substitute Premises
                  Permitted Exceptions"); and

                           (5) have a fair market value no less than the greater
                  of the then fair market value of the Premises to be replaced
                  or the fair market value of such Premises as of the Closing,
                  all as reasonably determined by FFCA's in-house inspectors and
                  underwriters.

                  (iii) FFCA shall have inspected and approved the Substitute
         Premises utilizing FFCA customary site inspection and underwriting
         approval criteria. Debtor shall have reimbursed FFCA for all of its
         actual out-of-pocket costs and expenses incurred with respect to such
         proposed substitution, including, without limitation, FFCA's
         third-party and/or in-house site inspectors' costs and expenses with
         respect to the proposed Substitute Premises. Debtor shall be solely
         responsible for the payment of all costs and expenses resulting from
         such proposed substitution, including, without limitation, the cost of
         title insurance and endorsements, survey charges, stamp taxes, mortgage
         taxes, transfer fees, escrow and recording fees, the cost of
         environmental reports and/or environmental insurance and the attorneys'
         fees and expenses of counsel to Debtor and FFCA.

                  (iv) FFCA shall have received a preliminary title report and
         irrevocable commitment to insure title in the amount of the then
         outstanding principal balance of the Loan relating to the Premises to
         be replaced by means of a mortgagee's ALTA extended coverage policy of
         title insurance (or its equivalent, in the event such form is not
         issued in the jurisdiction where the proposed Substitute Premises is
         located) for such proposed Substitute Premises issued by Title Company
         showing good and marketable title in Debtor and committing to insure
         FFCA's first priority lien upon and security interest in the proposed
         Substitute Premises, subject only to the Substitute Premises Permitted
         Exceptions and containing endorsements substantially comparable to
         those required by FFCA at the Closing.

                                       25
<PAGE>   26
                  (v) FFCA shall have received a current ALTA survey of such
         proposed Substitute Premises, the form of which shall be comparable to
         those received by FFCA at the Closing and sufficient to cause the
         standard survey exceptions set forth in the title policy referred to in
         the preceding subsection to be deleted, and disclosing no matters other
         than the Substitute Premises Permitted Exceptions.

                  (vi) FFCA shall have received a Phase I environmental report
         (and a Phase II environmental report, if necessary, as determined by
         FFCA in its sole discretion) and/or an environmental insurance policy
         with respect to such proposed Substitute Premises, which (A)
         environmental report(s) shall conform in scope to the then customary
         standards for lenders making loans secured by commercial real estate,
         which shall conclude that there is no Environmental Condition affecting
         the proposed Substitute Premises, and (B) environmental insurance
         policy shall be in form and substance and issued by such environmental
         insurance company as is acceptable to FFCA in its sole discretion.

                  (vii) Debtor shall deliver, or cause to be delivered, with
         respect to Debtor, Lessee and the Substitute Premises, opinions of
         Counsel in form and substance comparable to those received at Closing
         (but also addressing such matters unique to the Substitute Premises as
         may be reasonably required by FFCA).

                  (viii) no Event of Default shall have occurred under any of
         the Loan Documents.

                  (ix) Debtor and Lessee shall have executed such documents as
         are comparable to the security documents executed and delivered at
         Closing, as applicable (but with such revisions as may be reasonably
         required by FFCA to address matters unique to the Substitute Premises)
         or amendments to such documents, including, without limitation, a
         Mortgage; Lease and UCC-1 Financing Statements (the "Substitute
         Documents"), to provide FFCA with a first priority lien on the proposed
         Substitute Premises (or with respect to proposed Substitute Premises
         subject to ground leases, a first priority lien on the improvements
         located at such proposed Substitute Premises and Debtor's leasehold
         interest in the land thereunder), subject only to the Substitute
         Premises Permitted Exceptions, and all other rights, remedies and
         benefits with respect to the proposed Substitute Premises which FFCA
         holds in the Premises to be replaced, all of which documents shall be
         in form and substance reasonably satisfactory to FFCA.

                  (x) the representations and warranties set forth in the
         Substitute Documents and Section 6 of this Agreement applicable to the
         proposed Substitute Premises shall be true and correct in all material
         respects as of the date of substitution (with appropriate modifications
         consistent with the foregoing provisions of this Section to reflect
         proposed Substitute Premises subject to ground leases), and Debtor
         shall have delivered to FFCA an officer's certificate certifying to
         that effect.

                  (xi) Debtor shall have delivered to FFCA certificates of
         insurance and insurance policies showing that insurance required by the
         Substitute Documents is in full force and effect.

                                       26
<PAGE>   27
Upon satisfaction of the foregoing conditions with respect to the release of a
Premises:

                  (a) the proposed Substitute Premises shall be deemed
         substituted for the Premises to be replaced;

                  (b) the Loan Amount for the Substitute Premises shall be the
         same as for the replaced Premises;

                  (c) the Substitute Premises shall be referred to herein as a
         "Premises" and included within the definition of "Premises" and shall
         secure the same Obligations (as defined in the Mortgages) as were
         secured by the Premises that were replaced;

                  (d) the Substitute Documents shall be dated as of the date of
         the substitution; and

                  (e) FFCA will release, or cause to be released, the lien of
         the applicable Mortgage, UCC-1 Financing Statements and any other Loan
         Documents encumbering the replaced Premises.

         14. MISCELLANEOUS PROVISIONS.

         A. Notices. All notices, consents, approvals or other instruments
required or permitted to be given by either party pursuant to this Agreement
shall be in writing and given by (i) hand delivery, (ii) facsimile (with a copy
by overnight delivery service), (iii) express overnight delivery service or (iv)
certified or registered mail, return receipt requested, and shall be deemed to
have been delivered upon (a) receipt, if hand delivered, (b) transmission, if
delivered by facsimile, (c) the next Business Day, if delivered by express
overnight delivery service, or (d) the third Business Day following the day of
deposit of such notice with the United States Postal Service, if sent by
certified or registered mail, return receipt requested. Notices shall be
provided to the parties and addresses (or facsimile numbers, as applicable)
specified below:

              If to Debtor:        FDA Properties, Inc.
                                   7657 Anagram Drive
                                   Eden Prairie, MN 55344
                                   Attention: Chief Financial Officer
                                   Telephone: (612) 294-1305
                                   Telecopy:  (612) 294-1323

              If to FFCA:          Dennis L. Ruben, Esq.
                                   Executive Vice President, General Counsel
                                   and Secretary
                                   FFCA Funding Corporation
                                   17207 North Perimeter Drive
                                   Scottsdale, AZ  85255
                                   Telephone: (480) 585-4500
                                   Telecopy: (480) 585-2226

                                       27
<PAGE>   28
                  B. Real Estate Commission. FFCA and Debtor represent and
         warrant to each other that they have dealt with no real estate or
         mortgage broker, agent, finder or other intermediary in connection with
         the transactions contemplated by this Agreement. FFCA and Debtor shall
         indemnify and hold each other harmless from and against any costs,
         claims or expenses, including attorneys' fees, arising out of the
         breach of their respective representations and warranties contained
         within this Section.

                  C. Waiver and Amendment. No provisions of this Agreement shall
         be deemed waived or amended except by a written instrument
         unambiguously setting forth the matter waived or amended and signed by
         the party against which enforcement of such waiver or amendment is
         sought. Waiver of any matter shall not be deemed a waiver of the same
         or any other matter on any future occasion.

                  D. Captions. Captions are used throughout this Agreement for
         convenience of reference only and shall not be considered in any manner
         in the construction or interpretation hereof.

                  E. FFCA's Liability. Notwithstanding anything to the contrary
         provided in this Agreement, it is specifically understood and agreed,
         such agreement being a primary consideration for the execution of this
         Agreement by FFCA, that (i) there shall be absolutely no personal
         liability on the part of any shareholder, director, officer or employee
         of FFCA, with respect to any of the terms, covenants and conditions of
         this Agreement or the other Loan Documents, (ii) Debtor waives all
         claims, demands and causes of action against FFCA's officers,
         directors, employees and agents in the event of any breach by FFCA of
         any of the terms, covenants and conditions of this Agreement or the
         other Loan Documents to be performed by FFCA and (iii) Debtor shall
         look solely to the assets of FFCA for the satisfaction of each and
         every remedy of Debtor in the event of any breach by FFCA of any of the
         terms, covenants and conditions of this Agreement or the other Loan
         Documents to be performed by FFCA, such exculpation of liability to be
         absolute and without any exception whatsoever.

                  F. Severability. The provisions of this Agreement shall be
         deemed severable. If any part of this Agreement shall be held
         unenforceable, the remainder shall remain in full force and effect, and
         such unenforceable provision shall be reformed by such court so as to
         give maximum legal effect to the intention of the parties as expressed
         therein.

                  G. Construction Generally. This is an agreement between
         parties who are experienced in sophisticated and complex matters
         similar to the transaction contemplated by this Agreement and is
         entered into by both parties in reliance upon the economic and legal
         bargains contained herein and shall be interpreted and construed in a
         fair and impartial manner without regard to such factors as the party
         which prepared the instrument, the relative bargaining powers of the
         parties or the domicile of any party. Debtor and FFCA were each
         represented by legal counsel competent in advising them of their
         obligations and liabilities hereunder.

                  H. Other Documents. Each of the parties agrees to sign such
         other and further documents as may be appropriate to carry out the
         intentions expressed in this Agreement.

                                       28
<PAGE>   29
                  I. Attorneys' Fees. In the event of any judicial or other
         adversarial proceeding between the parties concerning this Agreement,
         the prevailing party shall be entitled to recover its attorneys' fees
         and other costs in addition to any other relief to which it may be
         entitled. References in this Agreement to the attorneys' fees and/or
         costs of FFCA shall mean both the fees and costs of independent outside
         counsel retained by FFCA with respect to this transaction and the fees
         and costs of FFCA's in-house counsel incurred in connection with this
         transaction.

                  J. Entire Agreement. This Agreement and the other Loan
         Documents, together with any other certificates, instruments or
         agreements to be delivered in connection therewith, constitute the
         entire agreement between the parties with respect to the subject matter
         hereof, and there are no other representations, warranties or
         agreements, written or oral, between Debtor, Lessee and FFCA with
         respect to the subject matter of this Agreement. Notwithstanding
         anything in this Agreement to the contrary, upon the execution and
         delivery of this Agreement by Debtor and FFCA, the Commitment shall be
         deemed null and void and of no further force and effect and the terms
         and conditions of this Agreement shall control notwithstanding that
         such terms and conditions may be inconsistent with or vary from those
         set forth in the Commitment.

                  K. Forum Selection; Jurisdiction; Venue; Choice of Law. Debtor
         acknowledges that this Agreement was substantially negotiated in the
         State of Arizona, the Agreement was signed by FFCA in the State of
         Arizona and delivered by Debtor in the State of Arizona, all payments
         under the Notes will be delivered in the State of Arizona and there are
         substantial contacts between the parties and the transactions
         contemplated herein and the State of Arizona. For purposes of any
         action or proceeding arising out of this Agreement, the parties hereto
         hereby expressly submit to the jurisdiction of all federal and state
         courts located in the State of Arizona and Debtor consents that it may
         be served with any process or paper by registered mail or by personal
         service within or without the State of Arizona in accordance with
         applicable law. Furthermore, Debtor waives and agrees not to assert in
         any such action, suit or proceeding that it is not personally subject
         to the jurisdiction of such courts, that the action, suit or proceeding
         is brought in an inconvenient forum or that venue of the action, suit
         or proceeding is improper. It is the intent of the parties hereto that
         all provisions of this Agreement shall be governed by and construed
         under the laws of the State of Arizona, without giving effect to its
         principles of conflicts of law. To the extent that a court of competent
         jurisdiction finds Arizona law inapplicable with respect to any
         provisions hereof, then, as to those provisions only, the laws of the
         states where the Premises are located shall be deemed to apply. Nothing
         in this Section shall limit or restrict the right of FFCA to commence
         any proceeding in the federal or state courts located in the states in
         which the Premises are located to the extent FFCA deems such proceeding
         necessary or advisable to exercise remedies available under this
         Agreement or the other Loan Documents.

                  L. Counterparts. This Agreement may be executed in one or more
         counterparts, each of which shall be deemed an original.

                  M. Binding Effect. This Agreement shall be binding upon and
         inure to the benefit of Debtor and FFCA and their respective successors
         and permitted assigns,

                                       29
<PAGE>   30
         including, without limitation, any United States trustee, any debtor in
         possession or any trustee appointed from a private panel.

                  N. Survival. Except for the conditions of Closing set forth in
         Section 9, which shall be satisfied or waived as of the Closing Date,
         all representations, warranties, agreements, obligations and
         indemnities of Debtor and FFCA set forth in this Agreement shall
         survive the Closing.

                  O. Waiver of Jury Trial and Punitive, Consequential, Special
         and Indirect Damages. DEBTOR AND FFCA HEREBY KNOWINGLY, VOLUNTARILY AND
         INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY WITH
         RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION, PROCEEDING,
         CLAIM OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST
         THE OTHER OR ITS SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF
         OR IN CONNECTION WITH THIS AGREEMENT OR ANY DOCUMENT CONTEMPLATED
         HEREIN OR RELATED HERETO. THIS WAIVER BY THE PARTIES HERETO OF ANY
         RIGHT EITHER MAY HAVE TO A TRIAL BY JURY HAS BEEN NEGOTIATED AND IS AN
         ESSENTIAL ASPECT OF THEIR BARGAIN. FURTHERMORE, DEBTOR HEREBY
         KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT IT MAY HAVE
         TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES FROM FFCA
         AND ANY OF FFCA'S AFFILIATES, OFFICERS, DIRECTORS OR EMPLOYEES OR ANY
         OF THEIR SUCCESSORS WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY
         ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY DEBTOR AGAINST
         FFCA OR ANY OF FFCA'S AFFILIATES, OFFICERS, DIRECTORS OR EMPLOYEES OR
         ANY OF THEIR SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN
         CONNECTION WITH THIS AGREEMENT OR ANY DOCUMENT CONTEMPLATED HEREIN OR
         RELATED HERETO. THE WAIVER BY DEBTOR OF ANY RIGHT IT MAY HAVE TO SEEK
         PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES HAS BEEN
         NEGOTIATED BY THE PARTIES HERETO AND IS AN ESSENTIAL ASPECT OF THEIR
         BARGAIN.

                  P. Transfers, Participations and Securitization. (1) A
         material inducement to FFCA's willingness to complete the transactions
         contemplated by the Loan Documents is Debtor's agreement that FFCA may,
         at any time, complete a Transfer, Participation or Securitization with
         respect to any Note, Mortgage and/or any of the other Loan Documents or
         any or all servicing rights with respect thereto.

                  (2) Debtor agrees to cooperate in good faith with FFCA in
         connection with any such Transfer, Participation and/or Securitization
         of any Note, Mortgage and/or any of the other Loan Documents, or any or
         all servicing rights with respect thereto, including, without
         limitation, (i) providing such documents, financial and other data, and
         other information and materials (the "Disclosures") which would
         typically be required with respect to Debtor and Lessee by a purchaser,
         transferee, assignee, servicer, participant, investor or rating agency
         involved with respect to such Transfer, Participation and/or
         Securitization, as applicable; provided, however, Debtor and Lessee
         shall not be required to make Disclosures of any

                                       30
<PAGE>   31
         confidential information or any information which has not previously
         been made public unless required by applicable federal or state
         securities laws; and (ii) amending the terms of the transactions
         evidenced by the Loan Documents to the extent necessary so as to
         satisfy the requirements of purchasers, transferees, assignees,
         servicers, participants, investors or selected rating agencies involved
         in any such Transfer, Participation or Securitization, so long as such
         amendments would not have a material adverse effect (financial or
         otherwise) upon Debtor and Lessee or the transactions contemplated
         hereunder.

                  (3) Debtor consents to FFCA providing the Disclosures, as well
         as any other information which FFCA may now have or hereafter acquire
         with respect to the Premises or the financial condition of Debtor and
         Lessee to each purchaser, transferee, assignee, servicer, participant,
         investor or rating agency involved with respect to such Transfer,
         Participation and/or Securitization, as applicable. FFCA and Debtor
         (and their respective Affiliates) shall each pay their own attorneys'
         fees and other out-of-pocket expenses incurred in connection with the
         performance of their respective obligations under this Section;
         provided, however, subsequent to the first such Transfer,
         Participation and/or Securitization, FFCA will pay Debtor's reasonable
         attorneys' fees and other out-of-pocket expenses in connection with
         such subsequent Transfer, Participation and/or Securitization.

                  (4) Notwithstanding anything to the contrary contained in this
         Agreement or the other Loan Documents:

                           (a) a breach or default, after the passage of all
                  applicable notice and cure or grace periods, under any Loan
                  Document, Lease or Other Agreement which relates to a loan or
                  sale/leaseback transaction which has not been the subject of a
                  Securitization, Participation or Transfer shall not
                  constitute an Event of Default or a breach or default, as
                  applicable, under any Loan Document or Other Agreement which
                  relates to a loan which has been the subject of a
                  Securitization, Participation or Transfer;

                           (b) a breach or default, after the passage of all
                  applicable notice and cure or grace periods, under any Loan
                  Document, Lease or Other Agreement which relates to a loan
                  which is included in any Loan Pool shall not constitute an
                  Event of Default or a breach or default, as applicable, under
                  any Loan Document or Other Agreement which relates to a loan
                  which is included in any other Loan Pool;

                           (c) the Loan Documents corresponding to the Notes in
                  any Loan Pool shall not secure the obligations of any of the
                  Debtor Entities contained in any Loan Document or Other
                  Agreement which does not correspond to a loan in such Loan
                  Pool; and

                           (d) the Loan Documents and Other Agreements which do
                  not correspond to a loan in any Loan Pool shall not secure
                  the obligations of any of the Debtor Entities contained in
                  any Loan Document or Other Agreement which does correspond to
                  a loan in such Loan Pool.

                                       31
<PAGE>   32
         IN WITNESS WHEREOF, Debtor and FFCA have entered into this Agreement as
of the date first above written.

                                   FFCA ACQUISITION CORPORATION,
                                   a Delaware corporation

                                   By: /s/ Patrick J. Feltes
                                      ----------------------------------------
                                   Printed Name: Patrick J. Feltes
                                                 -----------------------------
                                   Title: VP
                                          ------------------------------------

                                   DEBTOR:

                                   MINWOOD PARTNERS, INC.,
                                   a Delaware corporation

                                   By: /s/ Martin J. O'Dowd
                                       ---------------------------------------
                                   Printed Name: Martin J. O'Dowd
                                                 -----------------------------
                                   Title: President
                                           -----------------------------------

<PAGE>   33
STATE OF ARIZONA                            )
                                            ) SS.
COUNTY OF MARICOPA                          )

         The foregoing instrument was acknowledged before me on July 26, 2000 by
Patrick J. Feltes, Vice President of FFCA Funding Corporation, a Delaware
corporation, on behalf of the corporation.

                                              /s/ Kelly A. Hallford
                                              --------------------------------
                                              Notary Public

My Commission Expires:

 7/9/2002
-------------------------

STATE OF MINNESOTA                           )
                                             ) SS.
COUNTY OF HENNEPIN                           )

         The foregoing instrument was acknowledged before me on July 25, 2000 by
Martin J. O'Dowd, President of FDA Properties, Inc., a Delaware corporation, on
behalf of the corporation.

                                              /s/ Rita A. Witting
                                              -------------------------------
                                              Notary Public

My Commission Expires:

 1-31-05
-------------------------

<PAGE>   34
                                    EXHIBIT A

                 DESCRIPTION OF PREMISES; ALLOCATED LOAN AMOUNT

FFCA NO.                  ADDRESS                             AMOUNT

8001-1612                 1631 West Lake Street               $1,600,000.00
                          Addison, IL

8001-1614                 2750 Pine Lake Road                 $1,900,000.00
                          Lincoln, NE

<PAGE>   35
                                   EXHIBIT A-1

                                LEGAL DESCRIPTION

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