Document:

Exhibit 10

Exhibit 10.3

ASSIGNMENT OF REAL ESTATE LEASE

This Assignment, effective the 1st day of July, 2004 (the “Effective Date”), between Assignor and Assignee:

1.

Definitions.  For the purposes of this Assignment:   

a.

"Assignor" shall mean Burger Time Corporation, a corporation organized under the laws of the State of North Dakota, whose mailing address is 675 12th Avenue NE, West Fargo, North Dakota 58078.

b.

"Assignee" shall mean Burger Time Acquisition Corporation, a corporation organized under the laws of the State of Minnesota, whose mailing address is 13828 Lincoln Street NE, Ham Lake, Minnesota 55304.

c.

"Landlord" shall mean Dallas Vandenbos and Janice Vandenbos, whose mailing address is 617 East 26th Street, Sioux Falls, South Dakota 57105-0000.

d.

"Tenant" shall mean Burger Time Corporation, a corporation organized under the laws of the State of North Dakota, whose mailing address is 675 12th Avenue NE, West Fargo, North Dakota 58078.

e.

"Assignment" shall mean this Assignment of Real Estate Lease assigning the Tenant's interest in the Lease from Tenant to Assignee.

f.

"Lease" shall mean that certain Real Estate Lease Agreement between Landlord and Tenant dated January 1, 2004, a copy of which is attached to this Assignment as Attachment “A”.

2.

Consideration and Assignment.  For good and valuable consideration, receipt of which is hereby acknowledged, Assignor hereby sells, assigns, transfers and sets over to Assignee, its successors and assigns, all of Assignor's right, title, estate and interest as tenant in the Lease to Assignee as of the Effective Date.

3.

Assumption of Obligations.  From and after the Effective Date, Assignee assumes and shall be responsible for and perform all of the obligations accruing subsequent to the Effective Date under the Lease. 

4.

Benefit.  This Assignment shall benefit, and shall be binding upon, the parties and their respective legal representatives, successors and assigns.

BURGER TIME CORPORATION,   Assignor

  By  /s/  Douglas R. Geeslin

Douglas R. Geeslin, 

President and Secretary

BURGER TIME ACQUISITION CORPORATION, Assignee

  By  /s/  Mark Buckrey

Mark Buckrey, 

Chief Financial Officer

LANDLORD CONSENT AND ESTOPPEL

1.

Landlord Consent.  The undersigned, as the Landlord under the Lease described in the above Assignment of Real Estate Lease, does hereby consent to the assignment of the Lease from Burger Time Corporation to Burger Time Acquisition Corporation.

2.

Definitions.  All capitalized terms used in this Landlord Consent and Estoppel shall have the respective meanings ascribed to them in the Assignment of Real Estate Lease.

3.

No Modification or Breach.  Landlord hereby represents and warrants that the Lease is in full force and effect and is unmodified.  

a.

As of the Effective Date, there is no default in the performance of any obligations under the Lease nor is there any breach of the Lease which may, with the passage of time or the giving of notice or both, become a default under the Lease or otherwise permit Landlord to terminate the Lease.  

b.

As of the Effective Date, Landlord is not in default in the performance of any of its obligations under the Lease nor has it committed any breach thereof that may, with the passage of time or the giving of notice or both, become an event of default thereunder or otherwise permit the Lease to be terminated.

4.

Landlord Agreements.  From and after the Effective Date, Landlord agrees to:

a.

accept rental payments due under the Lease directly from Assignee; 

b.

release Assignor from any and all obligations under the Lease; and,

c.

provide to Assignee at its address set forth in the Assignment of Real Estate Lease, a copy of all notices required by Landlord under the Lease to be provided to Assignor.  Landlord agrees that any interest or lien of Landlord against any personal property of Assignor is an shall be subordinate to the right, title and interest of Assignee to such personal property.

Dated 2nd day of July, 2004.

/s/  Dallas Vandenbos

Dallas Vandenbos, Landlord

/s/  Janice Vandenbos

Janice Vandenbos, LandlordExhibit 10

Exhibit 10.4

PROMISSORY NOTE

For value received on the effective date of this Note, Borrower hereby promises to pay to the order of Lender, the principal sum of Three Hundred Thousand and 00/100 ($300,000.00) Dollars pursuant to the following terms and conditions:

1.

Definitions.  For the purposes of this Note: 

a.

"Borrower" shall mean Burger Time Acquisition Corporation, a corporation organized under the laws of the State of Minnesota, whose mailing address is 13828 Lincoln Street NE, Ham Lake, Minnesota 55304.

b.

"Lender" shall mean Burger Time Corporation, a corporation organized under the laws of the State of North Dakota, whose mailing address is 675 12th Avenue NE, West Fargo, North Dakota 58078.

c.

"Effective date of this Note" shall mean July 1, 2004.

d.

"Note" shall mean this promissory note given by Borrower to Lender.

e.

“Contract for Deeds” shall mean the ten (10) contract for deeds between Lender as the vendor and Borrower as the vendee pertaining to the Burger Time stores located at:

(1)

Fargo, North Dakota;

(2)

Bismarck, North Dakota;

(3)

Minot, North Dakota;

(4)

Grand Forks, North Dakota;

(5)

Moorhead, Minnesota;

(6)

Detroit Lakes, Minnesota;

(7)

Elk River, Minnesota;

(8)

Waite Park, Minnesota;

(9)

Sioux City, Iowa; and,

(10)

Sioux Falls, South Dakota.

2.

Payment of Principal and Interest.  Principal and interest shall be payable as follows:

a.

Interest.  Interest shall accrue from the Effective Date of this Note at the annual rate of Six (6%) percent on the unpaid principal balance.

b.

Payment of Interest.  Interest shall be paid monthly on the unpaid principal balance as follows:

(1)

On August 1, 2004, the first interest payment in the amount of One Thousand Five Hundred and 00/100 ($1,500.00) Dollars shall be paid by Borrower to Lender.

(2)

On September 1, 2004, the second interest payment in the amount of One Thousand and 00/100 ($1,000.00) Dollars shall be paid by Borrower to Lender.

(3)

On October 1, 2004, the third interest payment in the amount of Five Hundred and 00/100 ($500.00) Dollars shall be paid by Borrower to Lender.

c.

Payment of Principal.  Payments of principal shall be payable as follows:

(1)

On August 1, 2004, Borrower shall pay to Lender a principal payment in the amount of One Hundred Thousand and 00/100 ($100,000.00).

(2)

On September 1, 2004, Borrower shall pay to Lender a principal payment in the amount of One Hundred Thousand and 00/100 ($100,000.00).

(3)

On October 1, 2004, Borrower shall pay to Lender a principal payment in the amount of One Hundred Thousand and 00/100 ($100,000.00).

d.

Late Payment Service Charge.  With respect to late payments:

(1)

Payments received subsequent to the date due shall be subject to a late payment service charge in the amount of One Thousand and 00/100 ($1,000.00) Dollars.  

(2)

If the service charge is not paid along with the arrearage from which the service charge arose, the amount of the service charge shall add to the unpaid principal balance and shall become an amount immediately due, together with interest from the date of default at the rate accruing on the unpaid principal balance, under this Note.

e.

Prepayment of Principal.  Prepayment of principal shall be in accordance with the following:

(1)

Commencement.  Borrower may prepay the unpaid principal balance at any time in full or in part without penalty. 

(2)

Subsequent Installments.  Any such prepayment shall not change the amount of or postpone the due date of any subsequent installments of principal and interest due under Paragraphs 2.b. and 2.c. above. 

3.

Additional Terms and Conditions.  This Note shall be subject to the following additional terms and conditions:

a.

Legal Tender.  Principal and interest shall be payable in lawful money of the United States of America.

b.

Time.  Interest shall begin on the effective date of this Note and shall be calculated on the basis of actual days elapsed (including the day of payment) in a three hundred sixty-five (365) day year.

c.

Collection Costs.  Unless prohibited by law, Borrower agrees to pay all costs of collection, including reasonable attorney's fees and legal expenses, incurred by Lender if this Note is not duly paid.

d.

Waiver by Borrower.  Borrower hereby waives

(1)

presentment or other demand for payment;

(2)

notice of dishonor; and,

(3)

protest.

e.

Non-Waiver of Breach.  Waiver by Lender of any breach of any provision of this Note shall not operate or be construed as a waiver of any subsequent breach.  Lender's right in this regard shall be a continuing right and may be exercised as often as any breach may occur.

f.

Severability.  The invalidity or unenforceability of any particular provision of this Note shall not affect its other provisions.  The Note shall be construed in all respects as if such invalid or unenforceable provision was omitted.

g.

Notices.  Any and all notices, or any other communication provided for in this Note shall be given in writing by registered or certified mail which shall be addressed to the addresses stated in Paragraph 1 of this Note or to such other address as may be designated by either party.

h.

Governing Law.  This Note shall be governed by the substantive laws of the State of North Dakota, except insofar as Lender may rely on the laws of the United States to justify the interest rate charged.

i.

Acceleration.  Without notice or demand, and at Lender's option, this Note shall become immediately due and payable, together with all unpaid accrued interest:

(1)

if there is a default under the Contract for Deeds which is not subsequently cured within five (5) days;

(2)

if the accrued interest or principal on this Note is not paid within five (5) days of being due; 

(3)

if any other indebtedness of Borrower to Lender is not paid when due;

(4)

if a garnishment summons or writ of attachment is issued against or served upon Lender for the attachment of any property of Borrower in Lender's possession; or,

(5)

if Lender shall at any time in good faith believe that the prospect of due and punctual payment of this Note is impaired.

(i)

This Note shall also become automatically due and payable (including unpaid accrued interest) without notice or demand if a petition is filed by or against the Borrower under the United States Bankruptcy Code.

4.

Security.  This Note is secured by:

a.

A security agreement, dated July 1, 2004, between Lender as secured party and Borrower as debtor.

b.

A personal guaranty, dated July 1, 2004, by Gary Copperud as personal guarantor.

BURGER TIME ACQUISITION CORPORATION, Borrower

   By  /s/  Mark Buckrey

Mark Buckrey, 

Chief Financial Officer

STATE OF MINNESOTA 

)

)ss

COUNTY OF CLAY 

)

On this 1st day of July, 2004, before me, a notary public within and for said County, personally appeared Mark Buckrey, to me known to be the Chief Financial Officer of Burger Time Acquisition Corporation, a Minnesota Corporation, described in and who executed the foregoing Agreement and acknowledged that he executed the same on behalf of the Corporation as the free act and deed of the Corporation.

/s/  [Notary Public]

Notary Public

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