Document:

EX-10.4 SECOND AMENDMENT & RESTATED PROPERTY

 

 Exhibit
10.4

WESTSIDE
PLAZA SHOPPING CENTER 
SECOND AMENDED AND RESTATED MANAGEMENT AND LEASING
AGREEMENT

     This Shopping Center Management and Leasing Agreement (hereinafter the “Agreement”), entered
into as of the 28 day of December 2005, by and between AmREIT Westside Plaza,
LP, a Texas limited partnership (hereinafter “Owner”) and AmREIT Realty Investment Corporation, a
Texas corporation (hereinafter “Agent”);

WITNESSETH:

     WHEREAS, Owner will purchase the certain tract or parcel of land more particularly described
on Exhibit “A” attached hereto and incorporated herein by reference (the “Property”) which
Property has been developed as a retail shopping center (hereinafter “Shopping Center”), and
desires to enter into this Agreement for the purpose of delegating to Agent any or all of the
powers and authority of Owner in any way relating to (i) the management and operation of the
Shopping Center and (ii) the leasing of any and all space within the Shopping Center (all of the
aforementioned being collectively called “Duties”).

     NOW, THEREFORE, for the consideration and mutual covenants specified herein, Owner hereby
retains and employs Agent for the purpose of performing the Duties, and Agent accepts the
employment and agrees to perform the Duties, upon the terms hereinafter set forth:

ARTICLE I

AGENCY

     Section 1.01 Delegation of Authority. Owner hereby grants and delegates to Agent all
of the authority, powers and duties of the Owner specified herein. It is the express intent of
this Agreement that Agent is to have the full powers, authority and obligations of Owner in
managing and leasing the Shopping Center pursuant to the terms and conditions of this Agreement.
The foregoing notwithstanding, the parties agree that Agent shall obtain the written approval of
Owner to each lease (and the re-negotiation of any lease) for premises in the Shopping Center
prior to executing the Lease on behalf of Owner.

     Section 1.02 Contracts with Other Entities. Agent is hereby authorized to contract
with and employ the services of various entities and service providers, at Agent’s sole
discretion, to assist Agent in the performance of the Duties and other services in connection with
the operation and management of the Shopping Center, the charges and costs for of which shall be
included, and no greater than, the amounts to be paid by Owner to Agent as provided below.

1

 

ARTICLE II

DUTIES

     Owner hereby grants and delegates to Agent the authority and power to manage and lease the
Shopping Center, including without limitation Agent’s authority and power on behalf of Owner to
perform the same, including, without limitation, the following:

     (a) Repairs: To cause to be paid by Owner all costs and expenses
from the operation of the shopping center (i) to maintain, or cause to be maintained,
the Shopping Center and common areas thereof to the same extent the Owner is
required to do same; (ii) to make, or cause to be made and supervised, repairs and
minor operations required for the installation of tenants; (iii) to purchase supplies
required for the operation and maintenance of the Shopping Center after prior
approval by Owner, and (iv) to cause all repairs and/or emergency repairs if, in the
opinion of Agent, such repairs are necessary to protect the Shopping Center or any
part thereof from damage or to maintain services of the tenants as called for by their
lease agreements. Owner empowers Agent to authorize emergency repairs without
prior consent by Owner.

     (b) Employees: All persons so selected and employed as a result of this
Agreement by Agent shall be deemed to be employees of Agent and as such shall
be covered by Agent’s worker’s compensation insurance. Owner shall have the
right to request proof of insurance at Owner’s discretion.

     (c)  Service Contracts: To enter into contracts, subject to prior
approval by Owner, for any service that Agent shall deem advisable for the
successful performance of the duties hereunder, provided that any costs and
expenses required to be paid shall be paid or caused to be paid directly to such
service provider by Owner.

     (d) Miscellaneous Powers: To exercise any other powers, duties and
authority which Agent deems to be incidental and necessary for the successful
completion of the Duties as contemplated by this Agreement.

     (e) Covenants: Agent covenants to use due diligence and care in the
exercise of the power and duties conferred upon and assumed by Agent in this
Article II hereof.

     (f) Direct Payment by Owner: Notwithstanding anything contained
herein to the contrary, Owner shall be directly liable for all costs and expenses for
utilities, maintenance, repair, taxes and insurance of the Shopping Center, which
shall all be invoiced to Owner directly by such service providers, taxing authorities
and insurance companies, respectively.

2

 

     (g) Leasing Expenses. Notwithstanding anything contained herein to the
contrary, Owner shall be directly liable for any and all costs and expenses related to the
leasing activities of the Shopping Center, including but not limited to, advertising,
marketing materials, and travel expenses. Broker shall, at Owner’s expense, place a large
project leasing sign at the Shopping Center such sign and design to be approved prior by
Owner. Further, Broker shall, at the Owner’s cost, place “for lease” signs throughout the
available spaces within the Shopping Center, subject to. Owner’s approval of the type and
location of such signs. All advertisements and all publicity releases prepared by Broker shall
be paid for by Owner.

ARTICLE III

COMPENSATION

     Section 3.01 Leasing Fee. When Agent is the only real estate agent responsible for
causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent as
compensation for the leasing services rendered under this Agreement, an amount equal to four
percent(4%) of the total rent payable under the lease (the “Leasing Fee”). (For the purposes of
this Section 3.01, the term “total rent payable under the lease” shall mean only the rent payable
under the lease and shall not include additional charges such as common area maintenance charges,
tax charges, insurance charges or other charges generally know as additional rent.) When there is
another real estate agent who represents a tenant and together with the Agent is responsible for
causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent a
Leasing Fee of six percent (6%), and Agent shall be responsible for compensating the other agent.
Agent shall be paid a Leasing Fee of two percent (2%) or an amount equal to $2.00 per square foot
of the tenant’s space, whichever is greater, when an existing tenant renews its lease. Existing
tenant’s lease negotiations shall be handled by Owner.

     Section 3.02 Management Fee. The Owner shall pay to Agent as compensation for the
management services rendered under this Agreement the greater of $500.00 or 4% of all rents,
expense reimbursements and miscellaneous revenues. The Owner shall also pay to Agent as
compensation for the management services rendered under this Agreement a fee equal to 15% of
common area maintenances charges. The Management Fee is earned monthly and is due not later than
fifteen (15) days following the end of the month. A vacancy in the Property or failure by a tenant
to pay rent does not excuse payment of the minimum Management Fee.

ARTICLE IV

 TERM AND TERMINATION

     Section 4.01 Term. The Term of this Agreement shall commence on the date Owner
acquires title to the Property and continue for one (1) month hereafter, unless terminated as
hereinafter specified or by operation of law (herein referred to as the “Term

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of this Agreement”). Upon the completion of the Term of this Agreement, the Agreement shall
continue in full force and effect on a month to month basis. In the event either party chooses to
terminate this Agreement after the completion of the Term of this Agreement, such party must first
issue written notice of such termination to the other party at least thirty (30) days prior to the
date upon which the terminating party designates as the date this Agreement shall terminate. In the
event the terminating party issues the aforesaid notice to the other party, this Agreement shall
terminate on the date which is designated in the aforesaid notice.

     Section 4.02 Termination by Agent. Notwithstanding anything to the contrary contained
herein, Agent shall hereafter have the right to terminate this Agreement at a time chosen by Agent
in its sole discretion. In the event Agent chooses to terminate this Agreement, Agent must first
issue written notice of such termination to Owner at least thirty (30) days prior to the date upon
which Agent designates as the date this Agreement shall terminate. In the event Agent issues the
aforesaid notice to Owner, this Agreement shall terminate on the date which is designated by Agent
in the aforesaid notice to Owner.

     Section 4.03 Termination by Owner. Owner may terminate this Agreement for “Reasonable
Cause”, as defined in Section 4.04 hereof, but only after first issuing written notice to Agent
describing the acts (or failure to act) by Agent which Owner deems to be the Reasonable Cause for
termination, which written notice shall stipulate that Agent shall have thirty (30) consecutive
days after receipt of said notice to commence to cure and thereafter diligently proceed to
substantially cure the Reasonable Cause for termination set forth in said written notice to Agent.
If Agent fails to commence to cure the matter referred to as the Reasonable Cause within said
thirty (30) day period, then upon Owner’s issuance of written notice to Agent after the expiration
of said thirty (30) day period, this Agreement shall terminate, become null and void and of no
further force and effect. In such case Owner will select or designate a new Agent hereunder, which
designation shall be in the sole discretion of Owner.

     Section 4.04 Reasonable Cause. For purposes of this Agreement, “Reasonable Cause” is
hereby defined as Agent’s failure to reasonably perform its duties and obligations in accordance
with the terms and provisions of this Agreement, after Agent has actual notice that it has failed
to reasonably perform any of said duties and obligations, or in the event Agent is adjudicated
bankrupt or insolvent.

     Section 4.05 Orderly Transition. In the event this Agreement is terminated by either
party, Agent covenants and agrees to act in good faith in making an orderly transition to its
successor agent of the duties performed hereunder; provided, however, that Agent shall not be
obligated to incur and costs in connection with such transition. In connection with this
transaction, Agent further covenants and agrees to provide Owner with any and all documents and
records maintained by Agent during the term of this Agreement incidental to the performance of its
duties hereunder.

4

 

     Section 4.06 Continuing Obligation by Owner. Upon any such termination of this
Agreement as herein above provided, the obligations of Agent to Owner shall likewise terminate upon
the effective date of such termination; provided, however, that Owner shall remain obligated to pay
Agent all fees earned by Agent up to and inclusive of the date of such termination, including
without limitation, the Leasing Fee which is to be paid for rents collected subsequent to the date
this Agreement is terminated.

ARTICLE V

ASSIGNMENT

     This Agreement or any of the rights of the parties hereto shall not be assigned to any
third parties unless said assignment is agreed to in writing between all of the parties hereto.

ARTICLE VI

INDEMNIFICATION

     Agent shall not be liable to Owner or to Owner’s partners, officer, directors, employees,
agents, contractors, vendors, suppliers, invitees licensees for any damage to property or personal
injury, including death, caused by any act, omission, or neglect of Agent or any of Agent’s
officers, directors, or employees (“Agent Parties”) and Owner agrees to release, defend, indemnify
and forever hold harmless Agent and the Agent Parties from and against all claims for damage.
Owner further agrees to release, defend, indemnify and forever hold harmless Agent and the Agent
Parties from and against all loss, damage, claim, or expense (including attorneys’ fees) arising
out of or in any way connected with the management and operation of the Shopping Center except to
the extent that such loss, damage claim or expense results from the gross negligence or willful
misconduct of Agent or any of the Agent Parties. Agent shall grant same indemnity clause to Owner.

ARTICLE VII

GENERAL

     Section 7.01 Notices. All notices to be sent shall be sent to the parties at the
addresses shown under their names on the signature pages hereof. By giving to the other parties at
least ten (10) days written notice thereof, the parties hereto and their respective successors and
assigns shall have the right from time to time and at any time during the term of this Agreement
to change their respective addresses, and each shall have the right to specify as its address any
other address within the United States of America.

     Section 7.02 Governing Laws. This Agreement and the obligations of the parties

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hereunder shall be interpreted, construed, and enforced in accordance with the laws of the State
of Texas.

     Section 7.03
Entire Agreement. This Agreement contains the entire agreement between
the parties hereto relative to the management, leasing and development of the Shopping Center. No
variations, modifications or changes herein or hereof shall be binding upon any party hereto unless
set forth in a document duly executed by or on behalf of such party.

     Section 7.04
Waiver. No consent or waiver, express or implied, by either party, to or
of any breach or default by the others in the performance by the other of its obligations hereunder
shall be deemed or construed to be a consent or waiver, to or of any other breach or default in the
performance by such other party of such other breach or default or any other obligations of any
party hereunder. Failure on the part of any party to complain of any act or failure to act of any
of the other parties or to declare the other parties in default, irrespective of how long such
failure continues, shall not constitute a waiver of such party of its rights hereunder.

     Section 7.05
Severability. If any provision of this Agreement or the
application thereof to any person or circumstance shall be invalid or
unenforceable to any extent,
the remainder of this Agreement and the application of such provisions to other persons or
circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted
by law.

     IN WITNESS WHEREOF, the parties hereto have affixed their respective signatures hereto, as of
the date first written above.

   OWNER

	 	 	 	 	 	 	 
	 	AmREIT Westside Plaza, LP,

a Texas limited partnership
	 
	 	 	 	 	 	 
	 

	By:
	 	AmREIT Westside Plaza GP, LLC,

a Texas limited liability company, its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	 	By:
Name:
	 /s/ Chad C. Braun
 

 Chad C. Braun
	 	 
	 

	 	 	Title:
	 Vice President	 	 
	 

	 	 	
Notice Address:

8 Greenway Plaza, Suite 1000

Houston, TX 77046

	 	 

6

 

          AGENT

	 	 	 	 	 	 	 
	 	 	AmREIT Realty Investment Corporation, a Texas

corporation
	 
	 

	 	By:

Name:
	 	/s/ Chad C. Braun
 

Chad C. Braun
	 	 
	 

	 	Title:
	 	 Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	Notice Address:

 
	 	 	8 Greenway Plaza, Suite 1000
	 	 	Houston, Texas 77046

7

 

EXHIBIT A

Property Description

Tract I:

All that certain 3.7626 acres tract of land, more or less, situated in the John D. Taylor
Survey, Abstract No. 72, Harris County, Texas being a portion of Unrestricted Reserve “C”, Block 1,
of Dunvale at Westheimer Sam’s Club/Wal-Mart Subdivision per plat recorded in Film Code No. 356093,
Harris County Map Records, said 3.7626 acre tract of land being more particularly described by
metes and bounds as follows:

COMMENCING at a found 5/8 inch iron rod on the South right-of-way line of Westheimer Road (called
120 feet wide) and said point being the Northeast corner of the Dunvale at Westheimer Sam’s
Club/Wal-Mart Subdivision and the Northeast corner of Unrestricted Reserve “C”;

THENCE, South 87 deg. 31 min. 11 sec. West, with the said South right-of-way line of Westheimer
Road and the North line of Unrestricted Reserve “C” a distance of 543.03 feet to set “X” in
concrete for the Northeast corner of the herein described tract and the POINT OF BEGINNING;

THENCE, South 02 deg. 51 min. 07 sec. East, for a distance of 174.60 feet to a 5/8 inch iron rod
for corner;

THENCE, South 17 deg. 44 min. 45 sec. West, for a distance of 130.77 feet to a 5/8 inch iron rod
for corner;

THENCE, South 87 deg. 08 min. 53 sec. West, for a distance of 512.69 feet to a 5/8 inch iron rod
for corner, said corner also being in the East right-of-way line of Dunvale Road (called 70 feet
wide) and said line also being the West line of Unrestricted Reserve “C”;

THENCE, North 02 deg. 34 min. 51. sec West, along the East right-of-way of Dunvale Road and the
Westerly line of Unrestricted Reserve “C”, a distance of 285.95 feet to a 5/8 inch iron rod for
corner;

THENCE,
North 42 deg. 29 min. 10 sec. East, for a distance of 21.19 feet along the long side of a
15 foot cut-back at the Southwest corner of the intersection of Westheimer Road and Dunvale Road
to a set “X” in concrete for corner;

THENCE, North 87 deg. 33 min. 11 sec. East, with the South right-of-way line of Westheimer Road
and the North line of Unrestricted Reserve “C” a distance of 542.29 feet to the POINT OF BEGINNING
and containing 3.7626 acres (163,898 square feet) of land, more or less.

Tract II:

Access Easement and Utility Easement as set out in Declaration of Easements and Restrictions
file for record under Harris County Clerk’s File No. R075370.

8EX-10.5 MANAGEMENT AND LEASING AGREEMENT

 

 Exhibit
10.5

MARKET AT LAKE HOUSTON SHOPPING CENTER

MANAGEMENT AND LEASING AGREEMENT

     This Shopping Center Management and Leasing Agreement (hereinafter the “Agreement”), entered
into as of the 22 day of November 2005, by and between AmREIT Lake Houston, LP, a Texas limited
partnership (hereinafter “Owner”) and AmREIT Realty Investment Corporation, a Texas corporation
(hereinafter “Agent”);

W I T N
E S S E T H:

     WHEREAS, Owner will purchase the certain tract or parcel of land located at 7405 FM 1960 East
in Humble, Texas, more particularly described on Exhibit “A” attached hereto and incorporated
herein by reference (the “Property”) which Property has been developed as a retail shopping center
known as Market at Lake Houston (hereinafter “Shopping Center”), and desires to enter into this
Agreement for the purpose of delegating to Agent any or all of the powers and authority of Owner
in any way relating to (i) the management and operation of the Shopping Center and (ii) the
leasing of any and all space within the Shopping Center (all of the aforementioned being
collectively called “Duties”).

     NOW, THEREFORE, for the consideration and mutual covenants specified herein, Owner hereby
retains and employs Agent for the purpose of performing the Duties, and Agent accepts the
employment and agrees to perform the Duties, upon the terms hereinafter set forth:

ARTICLE I

AGENCY

     Section 1.01 Delegation of Authority. Owner hereby grants and delegates to Agent all
of the authority, powers and duties of the Owner specified herein. It is the express intent of
this Agreement that Agent is to have the full powers, authority and obligations of Owner in
managing and leasing the Shopping Center pursuant to the terms and conditions of this Agreement.
The foregoing notwithstanding, the parties agree that Agent shall obtain the written approval of
Owner to each lease (and the re-negotiation of any lease) for premises in the Shopping Center
prior to executing the Lease on behalf of Owner.

     Section 1.02 Contracts with Other Entities. Agent is hereby authorized to contract
with and employ the services of various entities and service providers, at Agent’s sole
discretion, to assist Agent in the performance of the Duties and other services in connection with
the operation and management of the Shopping Center, the charges and costs for of which shall be
included, and no greater than, the amounts to be paid by Owner to Agent as provided below.

1

 

ARTICLE II

DUTIES

     Owner hereby grants and delegates to Agent the authority and power to manage and lease the
Shopping Center, including without limitation Agent’s authority and power on behalf of Owner to
perform the same, including, without limitation, the following:

     (a) Repairs: To cause to be paid by Owner all costs and expenses from the
operation of the shopping center (i) to maintain, or cause to be maintained, the Shopping
Center and common areas thereof to the same extent the Owner is required to do same; (ii) to
make, or cause to be made and supervised, repairs and minor operations required for the
installation of tenants; (iii) to purchase supplies required for the operation and
maintenance of the Shopping Center after prior approval by Owner, and (iv) to cause all
repairs and/or emergency repairs if, in the opinion of Agent, such repairs are necessary to
protect the Shopping Center or any part thereof from damage or to maintain services of the
tenants as called for by their lease agreements. Owner empowers Agent to authorize emergency
repairs without prior consent by Owner.

     (b) Employees: All persons so selected and employed as a result of this
Agreement by Agent shall be deemed to be employees of Agent and as such shall be covered by
Agent’s worker’s compensation insurance. Owner shall have the right to request proof of
insurance at Owner’s discretion.

     (c) Service Contracts: To enter into contracts, subject to prior approval by
Owner, for any service that Agent shall deem advisable for the successful performance of
the duties hereunder, provided that any costs and expenses required to be paid shall be
paid or caused to be paid directly to such service provider by Owner.

     (d) Miscellaneous Powers: To exercise any other powers, duties and authority
which Agent deems to be incidental and necessary for the successful completion of the
Duties as contemplated by this Agreement.

     (e) Covenants: Agent covenants to use due diligence and care in the exercise
of the power and duties conferred upon and assumed by Agent in this Article II hereof.

     (f) Direct Payment by Owner: Notwithstanding anything contained herein to the
contrary, Owner shall be directly liable for all costs and expenses for utilities,
maintenance, repair, taxes and insurance of the Shopping Center, which shall all be
invoiced to Owner directly by such service providers, taxing authorities and insurance
companies, respectively.

2

 

ARTICLE III

COMPENSATION

     Section 3.01 Leasing Fee. When Agent is the only real estate agent responsible for
causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent as
compensation for the leasing services rendered under this Agreement, an amount equal to four
percent (4%) of the total rent payable under the lease (the “Leasing Fee”). (For the purposes of
this Section 3.01, the term “total rent payable under the lease” shall mean only the rent payable
under the lease and shall not include additional charges such as common area maintenance charges,
tax charges, insurance charges or other charges generally know as additional rent.) When there is
another real estate agent who represents a tenant and together with the Agent is responsible for
causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent a
Leasing Fee of six percent (6%), and Agent shall be responsible for compensating the other agent.
Agent shall be paid a Leasing Fee of two percent (2%) or an amount equal to $2.00 per square foot
of the tenant’s space, whichever is greater, when an existing tenant renews its lease. Existing
tenant’s lease negotiations shall be handled by Owner.

     Section 3.02 Management Fee. The Owner shall pay to Agent as compensation for the
management services rendered under this Agreement the greater of
$500.00 or 3.5% of all rents,
expense reimbursements and miscellaneous revenues. The Owner shall also pay to Agent as
compensation for the management services rendered under this Agreement a fee equal to 15% of
common area maintenances charges. The Management Fee is earned monthly and is due not later than
fifteen (15) days following the end of the month. A vacancy in the Property or failure by a tenant
to pay rent does not excuse payment of the minimum Management Fee.

ARTICLE IV

TERM AND TERMINATION

     Section 4.01 Term. The Term of this Agreement shall commence on the date Owner
acquires title to the Property and continue for one (1) month hereafter, unless terminated as
hereinafter specified or by operation of law (herein referred to as the “Term of this Agreement”).
Upon the completion of the Term of this Agreement, the Agreement shall continue in full force and
effect on a month to month basis. In the event either party chooses to terminate this Agreement
after the completion of the Term of this Agreement, such party must first issue written notice of
such termination to the other party at least thirty (30) days prior to the date upon which the
terminating party designates as the date this Agreement shall terminate, in the event the
terminating party issues the aforesaid notice to the other party, this Agreement shall terminate
on the date which is designated in the aforesaid notice.

3

 

     Section 4.02 Termination by Agent. Notwithstanding anything to the contrary contained
herein, Agent shall hereafter have the right to terminate this Agreement at a time chosen by Agent
in its sole discretion. In the event Agent chooses to terminate this Agreement, Agent must first
issue written notice of such termination to Owner at least thirty (30) days prior to the date upon
which Agent designates as the date this Agreement shall terminate. In the event Agent issues the
aforesaid notice to Owner, this Agreement shall terminate on the date which is designated by Agent
in the aforesaid notice to Owner.

     Section 4.03 Termination by Owner. Owner may terminate this Agreement for “Reasonable
Cause”, as defined in Section 4.04 hereof, but only after first issuing written notice to Agent
describing the acts (or failure to act) by Agent which Owner deems to be the Reasonable Cause for
termination, which written notice shall stipulate that Agent shall have thirty (30) consecutive
days after receipt of said notice to commence to cure and thereafter diligently proceed to
substantially cure the Reasonable Cause for termination set forth in said written notice to Agent.
If Agent fails to commence to cure the matter referred to as the Reasonable Cause within said
thirty (30) day period, then upon Owner’s issuance of written notice to Agent after the expiration
of said thirty (30) day period, this Agreement shall terminate, become null and void and of no
further force and effect. In such case Owner will select or designate a new Agent hereunder, which
designation shall be in the sole discretion of Owner.

     Section 4.04 Reasonable Cause. For purposes of this Agreement, “Reasonable Cause” is
hereby defined as Agent’s failure to reasonably perform its duties and obligations in accordance
with the terms and provisions of this Agreement, after Agent has actual notice that it has failed
to reasonably perform any of said duties and obligations, or in the event Agent is adjudicated
bankrupt or insolvent.

     Section 4.05 Orderly Transition. In the event this Agreement is terminated by either
party, Agent covenants and agrees to act in good faith in making an orderly transition to its
successor agent of the duties performed hereunder; provided, however, that Agent shall not be
obligated to incur and costs in connection with such transition. In connection with this
transaction, Agent further covenants and agrees to provide Owner with any and all documents and
records maintained by Agent during the term of this Agreement incidental to the performance of its
duties hereunder.

     Section 4.06 Continuing Obligation by Owner. Upon any such termination of this
Agreement as herein above provided, the obligations of Agent to Owner shall likewise terminate
upon the effective date of such termination; provided, however, that Owner shall remain obligated
to pay Agent all fees earned by Agent up to and inclusive of the date of such termination,
including without limitation, the Leasing Fee which is to be paid for rents collected subsequent
to the date this Agreement is terminated.

4

 

ARTICLE V

ASSIGNMENT

     This Agreement or any of the rights of the parties hereto shall not be assigned to any third
parties unless said assignment is agreed to in writing between all of the parties hereto.

ARTICLE VI

INDEMNIFICATION

     Agent shall not be liable to Owner or to Owner’s partners, officer, directors, employees,
agents, contractors, vendors, suppliers, invitees licensees for any damage to property or personal
injury, including death, caused by any act, omission, or neglect of Agent or any of Agent’s
officers, directors, or employees (“Agent Parties”) and Owner agrees to release, defend, indemnify
and forever hold harmless Agent and the Agent Parties from and against all claims for damage. Owner
further agrees to release, defend, indemnify and forever hold harmless Agent and the Agent Parties
from and against all loss, damage, claim, or expense (including attorneys’ fees) arising out of or
in any way connected with the management and operation of the Shopping Center except to the extent
that such loss, damage claim or expense results from the gross negligence or willful misconduct of
Agent or any of the Agent Parties. Agent shall grant same indemnity clause to Owner.

ARTICLE VII

GENERAL

     Section 7.01 Notices. All notices to be sent shall be sent to the parties at the
addresses shown under their names on the signature pages hereof. By giving to the other parties at
least ten (10) days written notice thereof, the parties hereto and their respective successors and
assigns shall have the right from time to time and at any time during the term of this Agreement
to change their respective addresses, and each shall have the right to specify as its address any
other address within the United States of America.

     Section 7.02 Governing Laws. This Agreement and the obligations of the parties
hereunder shall be interpreted, construed, and enforced in accordance with the laws of the State
of Texas.

     Section 7.03 Entire Agreement. This Agreement contains the entire agreement between
the parties hereto relative to the management, leasing and development of the Shopping Center. No
variations, modifications or changes herein or hereof shall be binding upon any party hereto
unless set forth in a document duly executed by or on behalf of such party.

5

 

     Section 7.04 Waiver. No consent or waiver, express or implied, by either party,
to or of any breach or default by the others in the performance by the other of its obligations
hereunder shall be deemed or construed to be a consent or waiver, to or of any other breach or
default in the performance by such other party of such other breach or default or any other
obligations of any party hereunder. Failure on the part of any party to complain of any
act or failure to act of any of the other parties or to declare the other parties in default,
irrespective of how long such failure continues, shall not constitute a waiver of such party of its
rights hereunder.

     Section 7.05 Severability. If any provision of this Agreement or the application
thereof to any person or circumstance shall be invalid or unenforceable to any extent, the
remainder of this Agreement and the application of such provisions to other persons or
circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted
by law.

     IN WITNESS WHEREOF, the parties hereto have affixed their respective signatures hereto, as of
the date first written above.

	 	 	 	 	 
	 	 	OWNER
	 
	 	 	 	 
	 	 	AmREIT LAKE HOUSTON, LP,
	 	 	a Texas limited partnership
	 
	 	 	 	 
	 

	 	By:
	 	AmREIT Lake Houston GP, Inc., a Texas

corporation, its general partner

	 	 	 	 	 
	 

	 	By:	 	/s/ H. Kerr Taylor 
	 

	 	 	 	 
	 

	 	Name:
	 	H. Kerr Taylor
	 

	 	Title:
	 	President
	 
	 	 	 	 
	 	 	Notice Address:
	 	 	8 Greenway Plaza, Suite 1000
	 	 	Houston, TX 77046

6

 

	 	 	 	 	 
	 	 	AGENT
	 
	 	 	 	 
	 	 	AmRElT Realty Investment Corporation, a Texas corporation
	 
	 	 	 	 
	 

	 	By:	 	/s/ H. Kerr Taylor
	 

	 	 	 	 
	 

	 	Name:
	 	H.Kerr Taylor
	 

	 	Title:
	 	President
	 
	 	 	 	 
	 	 	Notice Address:
	 
	 	 	 	 
	 	 	8 Greenway Plaza, Suite 1000
	 	 	Houston, Texas 77046

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EXHIBIT
A

Legal Description

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GF
No. 05-184303

EXHIBIT “A”

TRACT 1:

Being a 13.856 acre tract of land situated in the David Harris Survey, Abstract 26, Harris County,
Texas, and being all of Restricted Reserve “A”, Restricted Reserve “B”, and Restricted Reserve
“C”, in the subdivision plat of ATASCOCITA TOWN CENTER, SECTION FOUR (4), Replat and Extension,
recorded on Film Code No. 497043, Harris County Map Records; said 13.856 acre tract being more
particularly described by metes and bounds as follows (all bearings referenced to the East line of
said Restricted Reserve “A”):

BEGINNING at a 5/8 inch iron rod with a cap found for the Eastern most Southeast corner of said
Reserve “A”, same being the Northeast corner of Atascocita Office Park, Section Two, recorded in
the name of Exxon Corporation in Volume 377, Page 26 of the Harris County Map Records, same being
on the Westerly right-of-way line of West Lake Houston Parkway (100-feet wide) recorded in Volume
331, Page 140 of the Harris County Map Records;

THENCE, with a South line of said Reserve “A” and the North line of said Atascocita Office Park,
Section Two, South 71 deg. 33 min. 39 sec. West (plat call from Film Code No. 357134: South 71
deg. 32 min. 09 sec. West), a distance of 200.00 feet to a 5/8 inch iron rod found for the
Northwest corner of said Atascocita Office Park, Section Two, same being the Northeast corner of
Atascocita Town Center, Section Five, recorded in the name of CNL Net Lease Funding 2001, LP on
Film Code No. 370083 of the Harris County Map Records;

THENCE, continuing with said South line and with the North line of said Atascocita Town Center,
Section Five, South 78 deg. 33 min. 24 sec. West, a distance of 153.32 feet (plat call from Film
Code No. 357134: South 78 deg. 40 min. 33 sec. West, 153.37 feet) to a 5/8 inch iron rod with a
cap stamped “SURVCON INC” set for an interior corner of said Reserve “A”, same being the
Northwest corner of said Atascocita Town Center, Section Five;

THENCE, with a common line of said Reserve “A”, and said Atascocita Town Center, Section
Five, South 09 deg. 37 min. 27 sec. East, a distance of 248.39 feet (plat call from Film Code No.
357134: South 09 deg. 36 min. 43 sec. East, 248.53 feet) to a 5/8 inch iron rod with a cap found
for the Southern most Southeast corner of said Reserve “A”, same being the Southwest corner of
said Atascocita Town Center, Section Five, same being on the Northerly right-of-way line of F.M.
1960 (width varies), recorded in Volume 1017, Page 506 and Volume 2560, Page 226 of the Harris
County Deed Records;

THENCE, with the South line of said Reserve “A”, said Northerly right-of-way iine, the South line
of aforesaid Reserve “C”, and the South line of aforesaid Reserve “B”, 457.69 feet (plat call
from Film Code No. 357134: length = 457.44 feet) along the arc of a curve to the right, having a
delta angle of 09 deg. 18 min. 59 sec., a radius of 2814.79 feet and a chord that bears South 85
deg. 01 min. 17 sec. West, a distance of 457.19 feet to a PK nail set;

THENCE, continuing with said Northerly right-of-way line and the South line of said Reserve “A”,
South 89 deg. 41 min. 59 sec. West, a distance of 34.67 feet to a 5/8 inch iron rod with a cap
found for the Southwest corner of said Reserve “A”, same being the Southern most Southeast corner
of a call 38.89 acre tract of land recorded in the name of Lake
Houston/1960 Partners, Ltd., in
Clerk’s File No. U757560 of the Harris County Official Public Records of Real Property;

THENCE,
with the West line of said Reserve “A”, an East line of said 38.89 acre tract and the
East iine of a call 13.766 acre tract of land recorded in the name of Lowe’s Home Centers, Inc.,
in Clerk’s File No. U806110 of the Harris County Official Public Records of Real Property, the
following five (5) courses and distances:

1) North 00 deg. 02 min. 02 sec. East, a distance of 238.06 feet (plat call from Film Code No.
357134: North 00 deg. 00 min. 00 sec. East, 237.78 feet) to a 1/2 inch iron rod with a cap found;

2) North 90 deg. 00 min. 00 sec. East, a distance of 7.92 feet to a 1/2 inch iron rod with a cap

 

 

GF
No. 05-184303

found;

3) North
00 deg. 00 min. 00 sec. East, a distance of 306.77 feet to an “X” set in concrete;

4) North
90 deg. 00 min. 00 sec. West, a distance of 67.47 feet to an “X” set in concrete;

5) North
00 deg. 00 min. 00 sec. East, a distance of 414.00 feet to a 1/2 inch iron rod found for
the Northwest corner of aforesaid Reserve “A”, same being
the Northeast corner of aforesaid 13.766
acre tract, same being an interior corner of aforesaid 38.89 acre tract;

THENCE, with the North line of said Reserve “A”, and a South line of said 38.89 acre tract, North
90 deg. 00 min. 00 sec. East, a distance of 626.57 feet to a 5/8 inch iron rod with a cap found
for the Northeast corner of said Reserve “A”, same being an East corner of said 38.89 acre tract,
same being on aforesaid Westerly right-of-way line of West Lake Houston Parkway;

THENCE,
with the East line of said Reserve “A” and said Westerly
right-of-way line, South 20 deg.
53 min. 11 sec. East, a distance of 621.21 feet to the POINT OF BEGINNING and containing within
its bounds a computed area of 13.856 acres of land.

NOTE: THE COMPANY DOES NOT REPRESENT THAT THE ABOVE ACREAGE OR SQUARE FOOT CALCULATIONS ARE
CORRECT.

TRACT II:

Easements rights in and to the common areas created in that certain Kings Crossing Declaration of
Covenants, Conditions and Restrictions dated October 22,1982, filed for record under Harris County
Clerk’s File No. H672761, and refiled under H679437, and as amended by Amendment to Declaration of
Covenants, Conditions and Restrictions for Kings Crossing filed for record under Harris County
Clerk’s File No. H876904, and as set forth in that certain Declaration of Covenants, Conditions
and Restrictions for Kings River Trail Association, dated November 24, 1993, filed for record
under Harris County Clerk’s File No. P573863.

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