Document:

Unassociated Document

    Exhibit
10.12

     

    NINTH
AMENDMENT

    TO
THE

    MANAGEMENT
AGREEMENT

     

    This
ninth amendment  (this “Amendment”) to that certain Management
Agreement dated January 25, 2008 as amended by the Amendment to the Management
Agreement, dated April 30, 2008, as further amended by the Second Amendment to
the Management Agreement, dated May 30, 2008, as further amended by the Third
Amendment to the Management Agreement, dated as of September 16, 2008, as
further amended by the Fourth Amendment to the Management Agreement, dated as of
October 23, 2006, as further amended by the Fifth Amendment to the
Management Agreement, dated as of October 23, 2006, as further amended by
the Sixth Amendment to the Management Agreement, dated as of July, 8, 2009, as
further amended by the Seventh Amendment to the Management Agreement, dated as
of July, 17, 2009, and as further amended by the Eighth Amendment to the
Management Agreement, dated as of September 18, 2009 (collectively, the
“Agreement”) is made and entered into as of the 19th  day
of November, 2009, by and among AMERICAN REALTY CAPITAL TRUST, INC., a Maryland
corporation (the “Company”), AMERICAN REALTY CAPITAL OPERATING PARTNERSHIP,
L.P., a Delaware limited partnership (the “OP”, and together with the Company,
the “Owner”), and those certain Delaware limited liability companies listed on
Schedule 2 attached hereto (the “CVS 15 Owners”) and AMERICAN REALTY CAPITAL
PROPERTIES, LLC, a Delaware limited liability company (the
“Manager”).

    

    WHEREAS,
the OP was organized to acquire, own, operate, lease and manage real estate
properties on behalf of the Company;

    

    WHEREAS,
the CVS 15 Owners are each a subsidiary of the OP and each was organized to
acquire, own, operate, lease and manage the respective real estate property,
identified in Exhibit
A hereto, on behalf of the OP (the “CVS 15 Property”);

    

    WHEREAS,
the Company intends to continue to raise money from the sale of its common stock
to be used, net of payment of certain offering costs and expenses, for
investment in the acquisition or rehabilitation of income-producing real estate
to be acquired and held by the Company, by the OP or by the Subsidiary Owners on
behalf of the Company; and

    

    WHEREAS,
Owner and the Subsidiary Owners wish to retain Manager to manage and coordinate
the leasing of the real estate properties acquired by Owner and the Subsidiary
Owners, and the Manager wishes to be so retained, all under the terms and
conditions set forth in this Management Agreement.

     

    NOW,
THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound hereby, do hereby agree as
follows:

    

    
      	
              1.

            	
              Section
      1.11 will be replaced in its entirety with the
  following:

            

    

    

    “Properties means all
real estate properties owned by Owner or the Subsidiary Owners, and all tracts
as yet unspecified but to be acquired by Owner or the Subsidiary Owners
containing income-producing Improvements or on which Owner or the Subsidiary
Owners will rehabilitate income-producing Improvements, the Rockland Properties,
the National City Property, the Pompano Property, the PNC Property, the FedEx
Property, the Walgreen’s Sealy Property, the CVS 10 Property and the CVS 15
Property.  Properties shall be classified under four categories,
residential, retail, industrial and office properties.”

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    

    
      	
              2.

            	
              Section
      1.13 will be added with the
following:

            

    

    

    “Subsidiary Owners”
means, collectively, ARC ROCK17MA LLC, a Delaware limited liability company (the
“Rockland Owner”), ARC WBPCFL0001, LLC,  a Delaware limited liability
company (the “National City Owner”), ARC WBPBFL0001, LLC,  a Delaware
limited liability company (the “Pompano Owner”), ARC PANJOH54 LLC, a
Delaware limited liability company (the “PNC1 Owner”), ARC PA-QRS Trust, a
Virginia business trust (the “PNC2 Owner”), ARC FEHOUTX 001 LLC, a Delaware
limited liability company (the “FedEx Owner”), ARC WGSEATX001, LLC, a Delaware
limited liability company (the “Walgreen’s Sealy Owner”), those certain Delaware
limited liability companies listed on Schedule 1 attached hereto (the “CVS 10
Owners”) and the CVS 15 Owners.

    

    
      	
              3.

            	
              With
      respect to the CVS 15 Property alone, all references to Owner herein shall
      be deemed to include the CVS 15
Owners.

            

    

    

    

    [INTENTIONALLY
LEFT BLANK]

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties have executed this Amendment as of the date first
above written.

     

    

    AMERICAN
REALTY CAPITAL TRUST, INC.

    

    By:  /s/ William M.
Kahane

    Name: William
M. Kahane

    Title: President

    

    

    AMERICAN
REALTY CAPITAL

    OPERATING PARTNERSHIP, L.P.

     

    By: American Realty Capital
Trust, Inc.,

    its General Partner

    

    By: /s/ William M.
Kahane

    Name: William
M. Kahane

    Title: President

    

    

    AMERICAN
REALTY CAPITAL PROPERTIES, LLC

     

    By: /s/ William M.
Kahane

    Name: William
M. Kahane

    Title: President

     

     

    
      ARC
CVGNVFL001, LLC

       

      By: /s/ William M.
Kahane

      Name: William
M. Kahane

      Title: President

       

       

      ARC
CVJKVFL001, LLC

       

      By: /s/ William M.
Kahane

      Name:
William M. Kahane

      Title:
President

       

       

      ARC
CVCRDNC001, LLC

       

      By: /s/ William M.
Kahane

      Name: William
M. Kahane

      Title:
President

    

    

     

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

     

    
      ARC
CVCSTIN001, LLC

       

      By: /s/ William M.
Kahane

      Name:
William M. Kahane

      Title:
President

       

       

      ARC
CVHSVMO001, LLC

       

      By: /s/ William M.
Kahane

      Name:
William M. Kahane

      Title: President

       

       

      ARC
CVHLSNC001, LLC

       

      
        By: /s/ William M.
Kahane

        Name:
William M. Kahane

        Title:
President

      

       

      ARC
CVWKTNC001, LLC

       

      
        By: /s/ William M.
Kahane

        Name:
William M. Kahane

        Title:
President

      

       

       

      ARC
CVEELGA001, LLC

       

      
        By: /s/ William M.
Kahane

        Name:
William M. Kahane

        Title:
President

      

       

       

      ARC
CVAUBAL001, LLC

       

      
        By: /s/ William M.
Kahane

        Name:
William M. Kahane

        Title:
President

      

       

      ARC
CVBPKMN001, LLC

       

      
        By: /s/ William M.
Kahane

        Name:
William M. Kahane

        Title:
President

      

    

     

    
      
         

      

    

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

     

    
      ARC
CVRNONV001, LLC

       

       

        By: /s/ William M.
Kahane

        Name:
William M. Kahane

        Title:
President

         

         

        ARC
CVBIDME001, LLC

         

        
          By: /s/ William M.
Kahane

          Name:
William M. Kahane

          Title:
President

           

           

          ARC
CVPRACA001, LLC

           

           

            By: /s/ William M.
Kahane

            Name:
William M. Kahane

            Title:
President

             

             

            ARC
CVCHAAZ001, LLC

             

            
              By: /s/ William M.
Kahane

              Name:
William M. Kahane

              Title:
President

               

               

              ARC
CVROMGA001, LLC

               

              
                By: /s/ William M.
Kahane

                Name:
William M. Kahane

                Title:
President

              

            

          

        

      

    

    
      
        
          

            
              
                 

              

              
                -5-

                
                  

                

              

              
                 

              

            

        

      

    

    
      	
              SCHEDULE
      1

            

    

    

    List of CVS 10
Entities

    

     

    
      	 
      
	
              ARC
      CVPHXAZ001, LLC

            
	
              ARC
      CVVISCA001, LLC

            
	
              ARC
      CVSMYGA001, LLC

            
	
              ARC
      CVCHIIL001, LLC

            
	
              ARC
      CVMOLIL001, LLC

            
	
              ARC
      CVNVLMI001, LLC

            
	
              ARC
      CVASHNC001, LLC

            
	
              ARC
      CVWILNY001, LLC

            
	
              ARC
      CVCOLSC001, LLC

            
	
              ARC
      CVCOPTX001, LLC

            

    

    

     

    

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    SCHEDULE
2

    

    List of CVS 15
Entities

    
      	
               

              ARC
      CVGNVFL001, LLC

            
	
              ARC
      CVJKVFL001, LLC

            
	
              ARC
      CVCRDNC001, LLC

            
	
              ARC
      CVCSTIN001, LLC

            
	
              ARC
      CVHSVMO001, LLC

            
	
              ARC
      CVHLSNC001, LLC

            
	
              ARC
      CVWKTNC001, LLC

            
	
              ARC
      CVEELGA001, LLC

            
	
              ARC
      CVAUBAL001, LLC

            
	
              ARC
      CVBPKMN001, LLC

            
	
              ARC
      CVRNONV001, LLC

            
	
              ARC
      CVBIDME001, LLC

            
	
              ARC
      CVPRACA001, LLC

            
	
              ARC
      CVCHAAZ001, LLC

            
	
              ARC
      CVROMGA001, LLC

            

    

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    List of
Properties

    

    

    
      	
               

              Property
No.

            	
               

              Address

            	
               

              City

            	
               

              State

            	
               

              Owner

            
	
              1.

            	
              4145
      NW 53rd Ave

            	
              Gainesville

            	
              FL

            	
              ARC
      CVGNVFL001, LLC

            
	
              2.

            	
              50
      Duval Station Road

            	
              Jacksonville

            	
              FL

            	
              ARC
      CVJKVFL001, LLC

            
	
              3.

            	
              612
      N. Main Street

            	
              Creedmoor

            	
              NC

            	
              ARC
      CVCRDNC001, LLC

            
	
              4.

            	
              505
      County Road 1100 N

            	
              Chesterton

            	
              IN

            	
              ARC
      CVCSTIN001, LLC

            
	
              5.

            	
              300
      S. Commercial

            	
              Harrisonville

            	
              MO

            	
              ARC
      CVHSVMO001, LLC

            
	
              6.

            	
              151
      Village Walk Drive

            	
              Holly
      Springs

            	
              NC

            	
              ARC
      CVHLSNC001, LLC

            
	
              7.

            	
              5211
      Neal Trail Dr.

            	
              Walkertown

            	
              NC

            	
              ARC
      CVWKTNC001, LLC

            
	
              8.

            	
              601
      Howard Simmons Rd

            	
              East
      Ellijay

            	
              GA

            	
              ARC
      CVEELGA001, LLC

            
	
              9.

            	
              1888
      Ogletree Road

            	
              Auburn

            	
              AL

            	
              ARC
      CVAUBAL001, LLC

            
	
              10.

            	
              7996
      Brooklyn Boulevard

            	
              Brooklyn
      Park

            	
              MN

            	
              ARC
      CVBPKMN001, LLC

            
	
              11.

            	
              1081
      Steamboat Pkwy

            	
              Reno

            	
              NV

            	
              ARC
      CVRNONV001, LLC

            
	
              12.

            	
              384
      Elm St.

            	
              Biddeford

            	
              ME

            	
              ARC
      CVBIDME001, LLC

            
	
              13.

            	
              9256
      E. Slauson Ave.

            	
              Pico
      Rivera

            	
              CA

            	
              ARC
      CVPRACA001, LLC

            
	
              14.

            	
              180
      N Dobson Rd.

            	
              Chandler

            	
              AZ

            	
              ARC
      CVCHAAZ001, LLC

            
	
              15.

            	
              1905
      Martha Berry Blvd

            	
              Rome

            	
              GA

            	
              ARC
      CVROMGA001, LLC

            

    

    

     

    
      
         

      

      
        -8-Unassociated Document

    Exhibit
10.13

     

    TENTH
AMENDMENT

    TO
THE

    MANAGEMENT
AGREEMENT

     

    This
Tenth Amendment (this “Tenth Amendment”) to that
certain Management Agreement dated January 25, 2008 as amended by the Amendment
to the Management Agreement, dated April 30, 2008, as further amended by the
Second Amendment to the Management Agreement, dated May 30, 2008, as further
amended by the Third Amendment to the Management Agreement, dated as of
September 16, 2008, as further amended by the Fourth Amendment to the Management
Agreement, dated as of October 23, 2006, as further amended by the Fifth
Amendment to the Management Agreement, dated as of October 23, 2006, as
further amended by the Sixth Amendment to the Management Agreement, dated as of
July, 8, 2009, as further amended by the Seventh Amendment to the Management
Agreement, dated as of July 17, 2009, as further amended by the Eighth Amendment
to the Management Agreement, dated as of September 18, 2009, and as further
amended by the Ninth Amendment of the Management Agreement, dated as of November
19, 2009 (collectively, the “Agreement”) is made
and entered into as of the 24th day of
February, 2010, by and among AMERICAN REALTY CAPITAL TRUST, INC., a Maryland
corporation (the “Company”), AMERICAN
REALTY CAPITAL OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (the
“OP”, and together with the Company, the “Owner”), and those
certain Delaware limited liability companies listed on Schedule 1 attached
hereto (the “JIB 4
Owners”) and AMERICAN REALTY CAPITAL PROPERTIES, LLC, a Delaware limited
liability company (the “Manager”).

    

    WHEREAS,
the OP was organized to acquire, own, operate, lease and manage real estate
properties on behalf of the Company;

    

    WHEREAS,
the JIB 4 Owners are each a subsidiary of the OP and each was organized to
acquire, own, operate, lease and manage the respective real estate property,
identified in Exhibit
A hereto, on behalf of the OP (the “JIB 4
Property”);

    

    WHEREAS,
the Company intends to continue to raise money from the sale of its common stock
to be used, net of payment of certain offering costs and expenses, for
investment in the acquisition or rehabilitation of income-producing real estate
to be acquired and held by the Company, by the OP or by the Subsidiary Owners on
behalf of the Company; and

    

    WHEREAS,
Owner and the Subsidiary Owners wish to retain Manager to manage and coordinate
the leasing of the real estate properties acquired by Owner and the Subsidiary
Owners, and the Manager wishes to be so retained, all under the terms and
conditions set forth in this Tenth Amendment and the Agreement.

     

    NOW,
THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound hereby, do hereby agree as
follows:

    

    1.           Section
1.11 will be replaced in its entirety with the following:

    

    “Properties means all
real estate properties owned by Owner or the Subsidiary Owners, and all tracts
as yet unspecified but to be acquired by Owner or the Subsidiary Owners
containing income-producing Improvements or on which Owner or the Subsidiary
Owners will rehabilitate income-producing Improvements, the Rockland Properties,
the National City Property, the Pompano Property, the PNC Property, the FedEx
Property, the Walgreen’s Sealy Property, the CVS 10 Property, the CVS 15
Property and the JIB 4 Property.  Properties shall be classified under
four categories, residential, retail, industrial and office
properties.”

     

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

    

    2.           Section
1.13 will be amended to add the following at the end thereof:

    

    “Subsidiary Owners”
means, collectively, ARC ROCK17MA LLC, a Delaware limited liability company (the
“Rockland Owner”), ARC WBPCFL0001, LLC,  a Delaware limited liability
company (the “National City Owner”), ARC WBPBFL0001, LLC,  a Delaware
limited liability company (the “Pompano Owner”), ARC PANJOH54 LLC, a
Delaware limited liability company (the “PNC1 Owner”), ARC PA-QRS Trust, a
Virginia business trust (the “PNC2 Owner”), ARC FEHOUTX 001 LLC, a Delaware
limited liability company (the “FedEx Owner”), ARC WGSEATX001, LLC, a Delaware
limited liability company (the “Walgreen’s Sealy Owner”), the CVS 10 Owners, the
CVS 15 Owners, and those certain Delaware limited liability companies listed on
Schedule 1 attached to the Tenth Amendment (the “JIB 4 Owners”).

    

    3.           With
respect to the JIB 4 Property alone, all references to Owner herein shall be
deemed to include the JIB 4 Owners.

    

    

    [INTENTIONALLY
LEFT BLANK]

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties have executed this Amendment as of the date first
above written.

     

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	
                                      AMERICAN
      REALTY CAPITAL TRUST, INC.

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	
                                      /s/ William M. Kahane

                                    
	 
      	 
      	
                                      Name:  William
      M. Kahane

                                    
	 
      	 
      	
                                      Title:    President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      AMERICAN
      REALTY CAPITAL OPERATING PARTNERSHIP, L.P.

                                    
	 	 	 
	 	 	 
	 	      
                                      By:

                                    	      
                                      American
      Realty Capital Trust, Inc., its
      General Partner

                                    
	 	 	 
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	
                                      /s/ William M. Kahane

                                    
	 
      	 
      	
                                      Name:  William
      M. Kahane

                                    
	 
      	 
      	
                                      Title:    President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      AMERICAN
      REALTY CAPITAL PROPERTIES, LLC

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	
                                      /s/ William M. Kahane

                                    
	 
      	 
      	
                                      Name:  William
      M. Kahane

                                    
	 
      	 
      	
                                      Title:   President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      ARC
      JBCCTRXOO1, LLC

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	
                                      /s/ William M. Kahane

                                    
	 
      	 
      	
                                      Name:  William
      M. Kahane

                                    
	 
      	 
      	
                                      Title:   President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      ARC
      JBDESMO001, LLC

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	
                                      /s/ William M. Kahane

                                    
	 
      	 
      	
                                      Name:  William
      M. Kahane

                                    
	 
      	 
      	
                                      Title:   President

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      ARC
      JBVANWA001, LLC

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                      By:

                                    	
                                      /s/ William M. Kahane

                                    
	 
      	 
      	
                                      Name:  William
      M. Kahane

                                    
	 
      	 
      	
                                      Title:   President

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    Signature
page to Tenth Amendment to Management Agreement

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
1

    

    List of JIB 4
Owners

    

     

    
      	 
      
	
              ARC
      JBCCRTX001, LLC

            
	
              ARC
      JBDESMO001, LLC

            
	
              ARC
      JBTDAOR001, LLC

            
	
              ARC
      JBVANWA001, LLC

            
	 
      
	 
      
	 
      
	 
      
	 
      
	 
      

    

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    List of
Properties

    

    

    
      	
               

              Property No.

            	
               

              Address

            	
               

              City

            	
               

              State

            	
               

              Owner

            
	
              1.

            	
              1208
      North Main

            	
              Desloge

            	
              MO

            	
              ARC
      JBDESMO001, LLC

            
	
              2.

            	
              1407
      W. 6TH
      Street

            	
              The
      Dalles

            	
              OR

            	
              ARC
      JBTDAOR001, LLC

            
	
              3.

            	
              7815
      NE 6TH
      Avenue

            	
              Vancouver

            	
              WA

            	
              ARC
      JBVANWA001, LLC

            
	
              4.

            	
              3155
      S. Padre Island Dr.

            	
              Corpus
      Christi

            	
              TX

            	
              ARC
      JBCCRTX001, LLC

            

    

    

     

    
      
         

      

      
        -5-

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