Document:

<PAGE>

                                                                   EXHIBIT 10.12

                                                           Coursey Blvd. Project
                                                                 Baton Rouge, LA
                                                               Store No. 5328-00

                           TABLE OF CONTENTS PARAGRAPH
<TABLE>
<C>                                                                         <C>
1. DEMISED PREMISES                                                          2
2. LEASE TERM                                                                2
3. RENTAL                                                                    3
A. CONSTRUCTION OF IMPROVEMENTS                                              3
5. COMPLETION OF CONSTRUCTION                                                5
6. ACCEPTANCE OF LESSEE'S BUILDING                                           6
7. USE OF PREMISES                                                           8
8. EQUIPMENT, FIXTURES AND SIGNS                                             8
9. MAINTENANCE BY LESSOR                                                     8
10. MAINTENANCE BY LESSEE                                                    9
11. CARE OF PREMISES                                                         9
12. INSURANCE                                                                9
13. ACCESS BY LESSOR                                                        10
14. UTILITIES AND WASTE DISPOSAL                                            11
15. CONDEMNATION                                                            11
16. DEFAULT CLAUSE                                                          11
17. ASSIGNMENT AND SUBLETTING                                               12
18. MUTUAL WAIVER OF SUBROGATION                                            13
19. FIRE CLAUSE                                                             13
20. TAXES                                                                   14
21  LESSEE'S FIXTURES, EQUIPMENT AND GOODS                                  15
22. ALTERATIONS, IMPROVEMENTS, OR STOCKROOM ADDITIONS                       15
23. COVENANT OF TITLE AND QUIET ENJOYMENT                                   15
24. TITLE INSURANCE                                                         16
25. RIGHT TO MORTGAGE                                                       16
26. EXTENSION OR RENEWAL                                                    17
27. NOTICES                                                                 17
28. SHORT FORM LEASE                                                        17
29. CONSENT                                                                 17
30. COMMON AREAS                                                            17
31. MISCELLANEOUS                                                           18
32. RIGHT OF FIRST REFUSAL                                                  19
</TABLE>

EXHIBITS

<TABLE>
<S>   <C>
A.    SHOPPING CENTER LEGAL DESCRIPTION
A-l   WAL-MART TAX PLAT LEGAL DESCRIPTION
B.    CONSTRUCTION PLANS AND SPECIFICATIONS FOR WAL-MART STORE AND SHOPPING
        CENTER PARKING LOT
C.    SITE/GRADING/UTILITY PLANS
D.    MAINTENANCE DATA SHEET
E.    REAL PROPERTY TAX GUIDELINE
F.    WAL-MART PROJECT COSTS SHEET
G.    EASEMENTS WITH COVENANTS AND RESTRICTIONS AFFECTING LAND H. ESTOPPEL FORM
I.    SNDAFORM
</TABLE>

<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                                 LEASE AGREEMENT

      THIS LEASE AGREEMENT is executed in five (5) duplicate originals and made
as of the 30th day of May 2003 and is effective on even date herewith
("Effective Date") by and between Bright-Meyers Coursey Associates, L.P., a/an
Tennessee limited partnership, of 537 Market Street, Suite 400, Chattanooga,
Tennessee, Federal Tax I.D. 58-2267635 "Lessor"), and WAL-MART REAL ESTATE
BUSINESS TRUST, a Delaware statutory trust, with offices at 702 S.W. Eighth
Street, Bentonville, Arkansas 72716 and a mailing address of 2001 S.E. Tenth
Street, Bentonville, Arkansas 72716-0550, (hereinafter "Lessee").

                                   WITNESSETH:

      1. DEMISED PREMISES;

            A. Lessor, in consideration of the covenants and agreements
hereinafter contained, does hereby demise and lease to Lessee for the Lease Term
(as such term is defined herein) the Wal-Mart Tax Plat (as defined in Exhibit
A-1 including a/an 39,910 square foot building together with all other
improvements thereon (the Wal-Mart Tax Plat, such building and improvements are
hereinafter collectively the "Demised Premises") in the Shopping Center to be or
being constructed on the real property described in Exhibit A attached hereto
and made a part hereof (hereinafter the "Shopping Center"), to have and to hold
during the Lease Term (as defined in Paragraph 2). The Demised Premises and the
Shopping Center are located in the City of Baton Rouge, in East Baton Rouge
Parish, Louisiana.

            B. It is understood and agreed that throughout the Lease Term (as
hereinafter defined) of this Lease, Lessee and its agents, employees, customers,
contractors, subtenants, licensees and concessionaires shall have a nonexclusive
right to use the Common Areas (as defined in Paragraph 30) together with all
improvements and appurtenances now and hereafter located therein, including, but
not limited to the parking areas in the Shopping Center and the rights of
entrance and exit over all streets, alleyways, parking lots upon and appurtenant
to the Shopping Center, in common, with the agents, employees and customers of
other stores in the Shopping Center, for the purposes of ingress and egress on
foot and by motor vehicles and for parking motor vehicles in the Shopping
Center, for -loading and unloading merchandise and for the display of
merchandise and for the use of seasonal structures or sales on the parking lot
and sidewalk on Wal-Mart Tax Plat unless otherwise specifically designated on
Exhibit C.

      2. LEASE TERM: To have and to hold the same, together with all
improvements and appurtenances now or thereafter located therein or thereon,
including the rights of entrance and exit over all streets, alleyways, parking
lots and areaways adjacent thereto, for and during the full term of twenty (20)
years, commencing on the earlier of (i) the dale on which. Lessee opens the
Demised Premises for business to the public, or (ii) the date which is sixty
(60) days following the completion of the Demised Premises and Common Area
improvements (the "Commencement Date") and expiring twenty (20) years following
the Commencement Date, inclusive, subject, however, to the provisions of
Paragraph 6 hereof as to the effective Commencement Date of this Lease, and
subject, farther, to the provisions of Paragraph 26 concerning extensions or
renewals hereof (hereinafter "Lease Term"). The term "Lease Year" shall have the
following

                                       2
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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

meanings: the first "Lease Year" shall be the period which commences on the
Commencement Date of the Lease Term of this lease and terminates on the
next-following January 31st. Each subsequent Lease Year (other than the last
Lease Year) shall be a period which commences on February 1st of one year and
terminates on the next-following January 31st. The last Lease Year shall be the
period which commences on the last February 1st occurring during the term of
this Lease and terminates on the last day of the Lease Term. The parties
recognize that the first Lease Year and the last Lease Year may be periods of
less than twelve (12) full calendar months.

      3. RENTAL: Beginning on the Commencement Date and continuing through the
 Lease Term, Lessee shall pay to the Lessor as rent for the Demised Premises a
 fixed annual rent (hereinafter the "Rent") of four hundred twenty four thousand
 six hundred forty two and 40/100 Dollars ($424,642.40), based upon $10.64 per
 square foot of leased building space per year, payable in advance in equal
 successive installments of thirty five thousand three hundred eighty six and
 87/100 Dollars ($35,386.87) each, on the first day of each and every calendar
 month during the Lease Term, subject to the provisions of Paragraph 6 relating
 to (i) adjustment for a fractional first month and (ii) partial payment as set
 forth therein. Lessee agrees that in the event any monthly installment of Rent
 is not paid by the 10th of the month in which same is due, additional rent
 equal to ten percent (10%) of the monthly rental shall be paid by Lessee for
 each such month. Lessor agrees to provide Lessee with a fully completed and
 properly signed US Department of Treasury form W-9 at least sixty (60) days
 prior to the Commencement Date. No Rent shall be due or payable until Lessee
 receives the form W-9.

      4. CONSTRUCTION OF IMPROVEMENTS:

            A. Lessee shall provide Lessor with Construction Plans and
Specifications (as defined below) which shall meet state building codes.
Following Lessor's receipt of the Construction Plans and Specifications (as
defined below) Lessor, at Lessor's sole cost and expense, shall promptly
commence to construct alt improvements, including without limitation, Lessee's
building, mechanical and electrical facilities, the driveways, sidewalks,
curbing, curb cuts and parking area in accordance with the construction plans
and specifications for the Demised Premises attached hereto and marked Exhibit B
and also in accordance with the site/grading/utility plans for the Shopping
Center attached hereto and marked Exhibit C and in accordance with "Wal-Mart's
Design Criteria and Process" a copy of which Developer has previously been
provided and accepted (collectively referred to herein as the "Construction
Plans and Specifications"). Any modifications to the Construction Plans and
Specifications required to comply with local building codes shall be prepared at
Lessor's expense, and any additional cost of construction occasioned thereby
shall be paid by Lessor. Lessee shall reimburse Lessor for all other change
orders to the Construction Plans and Specifications which are authorized,
initiated and approved by Lessee and which result in additional cost to Lessor.
Lessor's construction contract shall provide for a construction supervisor for
Lessee's building and other improvements and an additional construction
supervisor for the remainder of the Shopping Center.

            Lessor shall wire those parking lot lights designated "W-M" on
Exhibit C into the Demised Premises. In regard to the parking area, Lessor
agrees to construct a parking lot ratio of at least five parking spaces per one
thousand

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

(1,000) square feet of gross leasable building area in the Shopping Center with
the same ratio independently provided with respect to the building on the
Demised Premises and that portion of the parking lot serving the Demised
Premises. In addition, Lessor agrees to record in the real property records of
East Baton Rouge Parish, the "Easements with Covenants and Restrictions
Affecting Land" attached hereto as Exhibit G. as an encumbrance and restriction
upon any outparcels adjacent to or fronting any of the Shopping Center and
return to Lessee an executed and recorded copy thereof.

      The Shopping Center facility is shown on the plans marked Exhibit C. which
Lessor shall have sealed by a licensed architect or engineer. Such plans include
without limitation the location and size of all buildings to be constructed,
utilities, parking areas, tenants' delivery service areas and existing and final
site preparation grades for the Shopping Center. No improvements or alterations
which substantially vary from the approved plans may be made without the prior
written consent of Lessee. Lessor shall also furnish Lessee the soil test
analysis and parking lot paving design as set forth in Subparagraph B below.
Lessor warrants and guarantees that all work shall be performed in a good and
workmanlike manner and in conformance with the above-mentioned Construction
Plans and Specifications, all of which are subject to final acceptance and
approval by Lessee. Any building(s) constructed adjacent to the Demised Premises
shall be constructed and operated in a manner which shall preserve "Unlimited
Area Code Classification" of the Demised Premises and shall maintain the same
structural classification, site clearances, and sprinklered rating as the
Demised Premises.

            B. Pre-construction Conference- Prior to Lessor's beginning
construction and pouring of the footings and foundation for the building located
upon the Demised Premises, Lessor will give Lessee at least two (2) weeks notice
of and arrange for a Pre-construction Conference to be held at the job site and
to be attended by Lessor, Lessee, the general contractor, and the job
superintendents. Prior to this Conference, which shall be held at least one week
before footings and foundations are to be installed. Lessor shall submit to
Lessee for approval a letter of certification for the parking lot paving design
from a licensed engineer, acceptable to Lessee based upon the soil borings
report. At the Pre-construction Conference, Lessor shall present the following
items to Lessee:

            1.    Copy of the Building Permit

            2.    Copies of the Driveway Entrance Permits

            3.    Copy of Satisfactory Soil Density Tests

            4.    Evidence of signed subcontracts

            5.    Copy of site plan, approved by all regulatory authorities for
                  the Parish of East Baton Rouge, Louisiana.

            6.    Copy of the Construction Schedule Bar Chart

            7.    A schedule showing when Lessor will submit to Lessee shop
                  drawings and equipment itemization for the following:

                      a.    Structural steel and roof deck

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

            b.    Sprinkler system

            c.    Mill work

            d.    Storefront glass

            e.    Roofing material

            f.    Door hardware

            g.    Plumbing fixtures

            h.    Electrical switchgear and light fixtures

            i.    Facia metal

      5. COMPLETION OF CONSTRUCTION: Lessor shall commence construction of the
Shopping Center including the Demised Premises on or before August 15, 2003, and
shall diligently proceed thereafter. If Lessor should fail to commence and be
diligently proceeding with construction of the Shopping Center, including the
Demised Premises, on or before August 15, 2003, Lessee shall have the right and
privilege to either (i) terminate this Lease and in such case Lessee shall have
no further obligation or liability of any kind or nature whatsoever, or (ii)
purchase the Shopping Center, including the Demised Premises, for two million
three hundred twenty four thousand nine hundred ninety seven dollars
($2,324,997.00) plus the amount of any construction work that has already been
performed by Lessor on the Shopping Center. The dollar value of the uncompleted
construction work on the Demised Premises and the dollar value of the completed
work on the Shopping Center, excluding the Demised Premises, shall be certified
by an architect or engineer of Wal-Mart's choosing and shall be binding on
Developer and Wal-Mart. All such certifications shall be based on the
Construction Plans. Should Lessee elect to purchase the Shopping Center,
including the Demised Premises, pursuant to this paragraph, such purchase shall
occur within sixty (60) days of Lessee's notifying Lessor of such election. The
words "commence construction" as used herein means the completion of foundations
of the building to be constructed upon the Shopping Center, including the
Demised Premises, in accordance with the Construction Plans and Specifications.
It is agreed by the parties that the timely possession of the Shopping Center,
including the Demised Premises, is a material inducement to Lessee's execution
of this Lease and that the date of completion of the Demised Premises according
to Construction Plans, and the completion of the Common Areas of the Shopping
Center, including the "future right-of-way" and the permitting and installation
of a fully operational traffic signal at the intersection of Coursey Boulevard,
Market Drive and the "future right-of-way", shall be no later than December 1,
2003, and is hereinafter referred to as the "Completion Date." If the Demised
Premises, the Common Areas of the Shopping Center, including the "future
right-of-way" and the permitting and installation of a fully operational traffic
signal, are not completed according to the Construction Plans and Specifications
by the Completion Date, Lessee shall have the option of either (a) terminating
this Lease and in such case Lessee shall have no further obligation or liability
of any kind or nature whatsoever; (b) purchasing the Shopping Center, including
the Demised Premises, in accordance with the terms and conditions set forth
earlier herein; or (c) establishing a new Completion Date which is agreeable to
Lessee and Lessor subject to the damages set forth herein. It is further
understood by both parties that the Shopping Center including the

                                       5
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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5323-00

Demised Premises may be completed earlier than the aforementioned date. Lessee
will accept a reasonably earlier possession date; however, in any event, Lessor
agrees to give Lessee ninety (90) days advance written notice ("Ninety Day
Notice") of the date upon which the Shopping Center including the Demised
Premises are to be completed. If the Shopping Center including the Demised
Premises (including the installation and operation of any and all signing which
includes Lessee's which is Lessor's responsibility) ate not completed according
to the Construction Plans and Specifications on the earlier of the Completion
Date or the date established by the Ninety (90) Day Notice, and in the event
Lessee does not elect to purchase the Shopping Center, then Lessor shall pay
Lessee liquidated damages in the amount of Five Thousand and No/100 Dollars
($5,000.00) per day beginning December 1, 2003, until said building and related
improvements are ready for possession. Such damages have been determined by
Lessor and Lessee to be reasonable and adequate to compensate Lessee for
Lessor's failure to deliver the Shopping Center including the Demised Premises
completed according to the Construction Plans and Specifications on the date
established by the ninety (90) day notice. Said damages may be deducted by
Lessee from Rent thereafter due to Lessor under this Lease.

      For the purposes of this Paragraph 5, except, however, the provision
concerning delivery of possession after Lessor has given the Ninety (90) Day
Notice, the Lessor or any successor in interest shall not be considered in
breach of, or in default of, the obligations set forth herein in the event of
enforced delay in the performance of or inability to perform such obligations
due to acts of God, the public enemy, fires, floods, epidemics, quarantine
restrictions, and unusually severe weather ("Enforced Delay"); it being the
purpose and intent of this paragraph that in the event of the occurrence of any
such enforced delay, the time or times for performance of the obligations of
Lessor with respect to this Lease shall be extended for the period of the
enforced delay, provided, that the party seeking the benefit of the provisions
of this paragraph shall, with-in five (5) days after the beginning of any
enforced delay, have first notified the other party thereof in writing, and of
the cause or causes thereof, and requested an extension for the period of the
enforced delay. Should any Enforced Delay extend for a period of sixty (60)
consecutive days, the Lessee shall have the right to terminate this Agreement.

      6. ACCEPTANCE OF LESSEE'S BUILDING: Upon delivery of possession of the
Demised Premises to Lessee, Lessor will complete and/or send to Lessee the
following:

            a.    Copy of the Roofing Warranty;

            b.    Certification by a licensed soils lab engineer in the state
                  where the project is located that all earthworks has been
                  constructed according to the contract documents;

            c.    Certification by a licensed testing lab engineer in the state
                  where the project is located that concrete has been placed in
                  accordance with the specifications;

            d.    Paving - copy of the boring log and plan showing location of
                  borings and Certification by a licensed testing lab engineer
                  in the state where the project is located that concrete and
                  asphalt paving has been placed according to the
                  specifications;

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

            e.    Certification from the sprinkler contractor that the sprinkler
                  system has been designed and installed according to the
                  contract documents and other applicable requirements;

            f.    Copies of HVAC warranties and Lessor's assignment of such
                  warranties to Lessee;

            g.    Final list of the General Contractor and all Subcontractors;

            h.    Maintenance Data Sheet (as shown in Exhibit D attached hereto
                  and made a part hereof) completed for the Demised Premises;

            i.    Wal-Mart Project Costs Sheet (as shown in Exhibit F attached
                  hereto and made a part hereof);

            j.    Certificates of insurance as required herein;

            k.    Completion of the Real Property Tax Guidelines attached hereto
                  as Exhibit E:

            l.    A copy of the permanent Occupancy Permit for the Demised
                  Premises;

            m.    Construction Completion Punchlist acknowledged as completed
                  and performed in its entirety by the Wal-Mart Store Manager or
                  Construction Manager for the Demised Premises;

            n.    A fully executed and properly recorded copy of Exhibit G:

            o.    A fully executed and properly recorded Short Form Lease as
                  provided in this Lease; and

            p.    An As-Built Topographic Survey certified by an engineer
                  licensed in the state where the Demised Premises are located
                  and in compliance with Exhibit C.

            q.    All governmental and regulatory approvals, including but not
                  limited to the certificate of occupancy, required prior to
                  Lessee's being able to open for business,

            r.    The resubdivision plat required to transfer title,

            s.    The permitting and installation of a fully operational traffic
                  signal at the intersection of Coursey Boulevard, Market Drive
                  and the "future right-of-way".

            Fifteen (15) days before Lessee's building and related improvements
are to be completed, Lessee shall be permitted to enter the Demised Premises for
the purpose of storing and/or installing fixtures, equipment and merchandise and
preparing for opening of Lessee's business; provided, that such entry by Lessee
shall not hinder Lessor in completion of Lessee's building and related
improvements. Such entry by Lessee shall not constitute (i) acceptance of the
Demised Premises as being completed or (ii) the Commencement Date. In any event
Lessee shall have at least a total of sixty (60) days following Lessee's entry
to the Demised Premises to prepare for the opening of business in the Demised
Premises, unless Lessee elects to open its business earlier. In the event that
the Commencement Date is not the first day of a calendar month, Lessee shall, on
the first day of the calendar month immediately following the Commencement Date,
pay Lessor with the first full monthly payment of Rent an amount equal to the
pro rata portion of Rent for the number of days from the Commencement Date to
the end of such fractional month. Rent for any fractional month at the end of
the Lease Term shall also be prorated. Immediately after the Lease Term hereof
has been ascertained, the parties shall execute an amendment to this Lease
indicating the actual commencement and termination dates. After opening, Lessee
shall be obligated to pay only one-half (1/2) of the monthly installments of
Rent until Lessor has fully completed the Demised

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

Premises and related improvements according to the Construction Plans and
Specifications and has provided Lessee with (i) all the items (a) through (p)
above enumerated in this Paragraph 6, and (ii) a copy of the executed amendment
to this Lease indicating the actual commencement date and termination dates, as
referred to in this Paragraph 6. Upon satisfactory completion of the above
items, Lessee shall pay to Lessor a sum equal to any rentals withheld pursuant
to the above.

      7. USE OF PREMISES: Lessor agrees that the Demised Premises may be used
for any lawful purpose. It is expressly agreed that nothing contained in this
Lease Agreement shall be construed to contain a covenant, either express or
implied, to either commence the operation of a business or thereafter
continuously operate a business in the Demised Premises. Lessor recognizes and
agrees that Lessee may, at Lessee's sole discretion and at any time during the
term of this Lease, cease the operation of its business in the Demised Premises;
and Lessor hereby waives any legal action for damages or for equitable relief
which might be available to Lessor because of such cessation of business
activity by Lessee.

      8. EQUIPMENT. FIXTURES AND SIGNS: Lessee shall have the right to erect,
install, maintain and operate on the Demised Premises such equipment, fixtures
and signs as Lessee may deem advisable, subject to local ordinances. Lessee may
install its freestanding pylon sign at the location shown on Exhibit C. Lessor
agrees to include Lessee's freestanding pylon sign as a part of any submissions
or applications made on behalf of the Shopping Center and use its best efforts
to have such signage included in any permits or consents obtained by applicable
governmental authorities. It is understood that any -work of any kind made and
done under this Paragraph shall be made and done at Lessee's sole cost, and
Lessee agrees to indemnify and hold Lessor harmless from any and all mechanics'
liens that may be filed by reason thereof, in the event of the ultimate removal
of any personal property, equipment or fixtures, including signs, Lessee agrees
to repair any damage resulting therefrom.

      9. MAINTENANCE BY LESSOR:

            A. Lessor shall maintain the Demised Premises in good condition and
repair, including the replacement thereof, during the first year of Lessee's
occupancy. Lessor shall make any repair or replacement to the Demised Premises
resulting from defective materials and/or workmanship or construction not in
accordance with the aforementioned plans and specifications. If Lessor, within
fifteen (15) days after Lessee shall give written notice to Lessor, shall fail
to make the repairs or replacements required of Lessor herein, or in the event
of an emergency which, in the opinion of Lessee, renders such notice
impracticable, Lessee may, at its option, make the repairs or replacements, in
which event the Lessor covenants to reimburse Lessee for the cost thereof and
for ten percent (10%) of said cost for administration fees. If within fifteen
(15) days after Lessee has given such notice to Lessor, Lessor shall fail to
reimburse Lessee for the cost of such work and the administration fee, Lessee
may deduct such costs from Rent and/or any other sums then or thereafter due to
Lessor under this Lease. Notice shall be deemed given as provided hereinafter in
Paragraph 27.

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

            B. Lessor further agrees to make all repairs to the Demised Premises
and to do all painting and decorating when such repairs and/or painting and
decorating are necessitated by the occurrence of perils actually covered by
Lessee's All-Risk hazard insurance or by the act or omissions of the Lessor or
anyone under its control, including but not limited to agents, servants or
invitees, or by the acts or omissions of any other tenants in the Shopping
Center.

            C. Lessee may conduct a warranty walk through inspection prior to
its first full year of occupancy and provide to Lessor a list of any defects for
Lessor's repair pursuant to the one year construction warranty provided for in
Paragraph 9A and such items shall be repaired by Lessor prior to Lessee assuming
maintenance responsibility pursuant to Paragraph 10.

      10. MAINTENANCE BY LESSEE: Subject to the obligation of Lessor pursuant to
Paragraph 9 during the Lease Term, Lessee, at its sole cost and expense shall
maintain the entire Demised Premises, including without limitation, repairing
and/or replacing HVAC system, thereof and other structural components of the
building, in good condition and repair throughout the term hereof, reasonable
wear and tear and the effects of time excepted. This work may be performed by
Lessee's employees or by others, at Lessee's discretion. Lessee shall maintain
the parking lot lights designated "W-M" on Exhibit C. Lessor agrees to assign or
cause its contractors to assign to Lessee all contractors' or subcontractors'
guarantees or warranties which relate to any construction work concerning which
Lessee shall have the obligation to make repairs. At the expiration of the Lease
or any renewal hereof, Lessee agrees to surrender promptly the Demised Premises
to Lessor in the same condition as when received, ordinary wear and tear,
effects of time and destruction by fire, the elements or other unavoidable
casualties excepted.

      11. CARE OF PREMISES; During the Lease Term, Lessee agrees to keep the
Demised Premises in a reasonably neat and clean condition, shall refrain from
permitting any unreasonable nuisance or fire hazard therein, shall permit no
unlawful or immoral practice to be carried on within the Demised Premises within
its knowledge or consent by it or any person and shall at all times comply in
its occupancy and use of the Demised Premises with all city and county
ordinances and with all State and Federal laws and regulations relating thereto.

      12. INSURANCE;

            A. Beginning with the Effective Date hereof, and until the
Commencement Date of the Lease, Lessor shall procure and pay the premium for a
Comprehensive General Liability Policy of insurance in the amounts of Five
Million Dollars ($5,000,000.00) with respect to injuries to any one person, Five
Million Dollars ($5,000,000.00) with respect to any one accident, and Five
Million Dollars ($5,000,000.00) with respect to property damage to protect
Lessee and Lessor against liability for such injury to persons and such damage
upon find within the Demised Premises.

            B. During the Lease Term Lessee shall procure and pay the premium
for liability insurance in the amounts of Five Million Dollars ($5,000,000.00)
with respect to injuries to any one person, Five Million Dollars ($5,000,000.00)
with respect to any one accident, and Five Million Dollars ($5,000,000.00) with
respect to property damage to protect Lessee and Lessor against liability for
such injury to persons and such damage upon and within the Demised Premises.
Notwithstanding anything to the contrary contained herein, as long as Lessee's
net worth shall exceed

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

One Hundred Million Dollars ($100,000,000.00), it shall have the right to
self-insure. In addition, during the Lease Term, Lessee agrees to carry All-Risk
hazard insurance on the Demised Premises for an amount providing coverage for
the full replacement cost of the Demised Premises. Said insurance policy shall
provide that it shall not be canceled except on thirty (30) days prior written
notice to Lessor. Notwithstanding anything to the contrary contained herein, as
long as Lessee's net worth shall exceed One Hundred Million Dollars
($100,000,000.00), it shall have the right to self-insure. In the event of
either partial or total destruction of the Demised Premises, as defined in
Paragraph 19 below, Lessee shall assign the proceeds of said insurance policy to
Lessor who shall use the proceeds pursuant to Paragraph 19 below. In the event
Lessee is self-insuring at the time of such casualty, Lessee shall provide funds
(in an amount not to exceed the amount that would have been provided if Lessee
had carried the "All Risk" Policy provided for in the Paragraph 12) to Lessor so
that Lessor can remedy any such loss. Lessee agrees upon written request, to
name Lessor and Lessor's mortgagee as additional insured parties under the
policies required by this Paragraph 12 and to deliver to said Lessor and
Lessor's mortgagee certificates evidencing such coverage

            C. During the Lease Term, Lessor shall procure and pay the premium
for a Comprehensive General Liability Policy of insurance to in the amount of
Five Million Dollars ($5,000,000.00) with respect to injuries to any one person,
Five Million Dollars ($5,000,000.00) with respect to any one accident to protect
Lessee and Lessor against liability for such injury to persons upon the Shopping
Center, and Five Million Dollars ($5,000,000.00) with respect to property damage
to protect Lessee and Lessor against liability for such damage upon and within
the Shopping Center exclusive of the Demised Premises. Lessor agrees to carry
All-Risk hazard insurance on the Shopping Center exclusive of the Demised
Premises for an amount providing coverage for the full replacement cost of the
Shopping Center exclusive of the Demised Premises. Said insurance policy shall
provide that it shall not be canceled except on thirty (30) days prior written
notice to Lessee.

            D. From the Effective Date through the earlier of the Commencement
Date of the Lease Term or the date Lessee accepts possession of the Demised
Premises, Lessor specifically agrees to defend, protect, hold harmless, and
indemnify Lessee against any and all responsibility, liability, loss, expense,
attorney's fees, court costs, costs of defense, and other costs of whatever kind
in connection with all suits, claims, demands, and actions asserted by anyone
and arising directly or indirectly out of any occurrence on or about the Demised
Premises, or out of Lessor's operations on, or about the Demised Premises, or
out of the ownership, or use of the Demised Premises.

      13. ACCESS BY LESSOR: Lessor and its authorized representatives shall have
the right to enter the Demised Premises at all reasonable times to examine the
condition thereof and to make all necessary repairs required of Lessor under
this Lease, but such rights shall be exercised in a manner so as not to
interfere unreasonably with the business of Lessee. At any time within six (6)
months prior to the expiration of this Lease or any renewals hereof. Lessor,
with the express written permission of Lessee, may show the Demised Premises to
prospective purchasers or tenants, and within such period, with the express
written permission of Lessee, may attach to the building or erect on the Demised
Premises a notice advertising said property for sale or letting.

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      14. UTILITIES AND WASTE DISPOSAL: Lessee agrees to pay for the following
utilities used by Lessee upon or within the Demised Premises from and after the
date of Lessee's entry to the Demised Premises, as provided in Paragraph 6, to
prepare for the opening of business: electricity, gas, water and sewer, provided
suitable meters are installed by Lessor to measure Lessee's consumption of same.
Lessee shall provide for the regular removal of all trash, rubbish and garbage
from the Demised Premises resulting from Lessee's activities on the Demised
Premises from and after the date of Lessee's entry to the Demised Premises, as
provided in Paragraph 6, to prepare for the opening of business.

      15. CONDEMNATION: If the whole of the Demised Premises shall be taken or
condemned by any competent authority for any public use or purpose during the
Lease Term or any extension of the Lease Term, Lessee reserves the right to
prosecute its claim for an award based on its real property interest granted by
this agreement for such taking without impairing the rights of Lessor. After the
Effective Date hereof or during the Lease Term or any extension of the Lease
Term (i) should part of the Shopping Center be taken or condemned and the part
so taken includes the building, or any part thereof, on the Demised Premises, or
(ii) should the part so taken shall remove ten percent (10%) or more of the
parking area within the Demised Premises, or the part so taken shall remove from
the Shopping Center ten percent (10%) or more of the lineal front footage which
runs parallel to any adjacent street or the highway thereof, or (iii) should the
part so taken shall remove or separate fifteen percent (15%) of the total
parking area, or (iv) should the part so taken shall result in cutting off any
access from the Shopping Center to any adjacent public street or highway, then,
and in any such event, Lessee may elect to terminate this Lease as of the date
of the taking by such authority. Such notice of election to terminate shall be
given in writing to Lessor within ninety (90) days after official notice to
Lessee of the taking: In the event Lessee shall fail to exercise such option to
terminate this Lease, or if part of the Shopping Center shall be taken or
condemned under circumstances whereby Lessee does not have such option, then,
and in either such event, the rental for the balance of the term of this Lease
shall be abated and adjusted in an equitable manner.

      16. DEFAULT CLAUSE:

            A. If default shall at any time be made by Lessee in the payment of
the Rent reserved herein or any installment thereof for more than ten (10) days
after Lessee's receipt of written notice of such default by the Lessor, or if
Lessee shall default in the performance of any other covenant, agreement,
condition, rule or regulation herein obligating Lessee and such default shall
continue for thirty (30) days after Lessee's receipt of written notice of such
default by Lessor, (or if the default cannot be cured within such thirty (30)
day period, if Lessee shall not within such 30-day period commence such cure and
thereafter diligently pursue same to its completion), Lessor shall thereafter
have the right to reenter or repossess the Demised Premises, either by force,
summary proceedings, surrender or otherwise, and dispossess and remove therefrom
Lessee or other occupants thereof and their effects without any liability
therefor. In such case, Lessor shall use reasonable efforts to relet the Demised
Premises or any part thereof at the highest rental rate reasonably attainable as
the agent of Lessee, with Lessee remaining liable to pay Lessor Rent and other
charges reserved herein for the balance of the term, less the actual rental
received for the Demised Premises for the same period; or Lessor at its

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option may terminate this Lease, thereby releasing Lessee from any further
liabilities hereunder. Should the actual rental received for the Demised
Premises be less than the Rent, Lessee shall pay such deficiency on a monthly
basis. In no event shall Lessor be entitled to accelerate the payment of rent.
The remedy provided herein for the breach of any obligation shall be exclusive,
with the exception that Lessor may bring an action for any Rent which has
accrued and is otherwise delinquent. Consequential damages are not recoverable.

            B. If Lessor shall fail to pay any taxes, assessments, mortgage
interest or amortization, or any other charges accruing against the Demised
Premises, or fail to perform any of the conditions or covenants hereof on its
part to be performed, Lessee may give written notice of such default to Lessor,
and if Lessor shall not within thirty (30) days thereafter cure such default (or
if the default cannot be cured within thirty (30) days, if Lessor shall not
within such period commence such cure and thereafter diligently complete the
same), then Lessee shall have the right, at its option, to cure such default,
and the amount expended by it therefor and a reasonable charge for
administrative expenses may be deducted by Lessee from the rents thereafter to
become due. Lessee shall, upon request, submit to Lessor receipted bills showing
payment of all the aforesaid items. It is further provided, however, that in the
event of urgent situations which are Lessor's responsibility to remedy pursuant
to Paragraph 9(A) which shall include but not be limited to defects and failures
in the sprinkler systems, Lessee shall immediately notify Lessor or its duly
appointed agent, orally, by telecopy or by Federal Express or similar overnight
delivery service, and upon the failure of Lessor to correct promptly or take
necessary steps to correct such urgency, then Lessee shall have the right to
correct the same and be reimbursed as hereinabove provided. In the event the
Demised Premises shall be rendered untenable by reason of Lessor's failure to
perform any obligation described herein, including without limitation Lessor's
failure to make repair, all rental due hereunder shall wholly abate until Lessor
shall have satisfactorily performed such obligation. Alternatively, Lessee shall
have the right to perform such obligations at the expense of Lessor as
hereinabove provided.

      17. ASSIGNMENT AND SUBLETTING: Lessee shall have the right at any time,
without the Lessor's consent, to sublet the Demised Premises or any part thereof
or to assign this Lease and the assignee or subtenant may use the premises for
any lawful purpose. In (he event of an assignment or subletting, any reference
in this Lease Agreement to Lessee will be interpreted to include such assignee
or subtenant; provided, that no such subletting or assignment shall relieve
Lessee of any of its financial obligations hereunder. Each sublease or
assignment shall provide that it is subject and subordinate to the rights of
Lessor under this Lease and to any renewal, amendment or modification thereof,
to the rights of any first mortgage to which this Lease is subject or
subordinate and to all renewals, modifications, consolidations and extensions
thereof. The provisions for such subordination shall be self-operative so that
no further instrument of subordination need be required by any mortgagee. Lessor
agrees that the continued enforceability of the subordination agreement by
Lessor or its mortgagee shall be conditioned upon Lessee being in possession of
a valid non-disturbance agreement executed by all present and any future
mortgagees in the form attached as Exhibit I regarding the Lease and, if
applicable, any Easement, Covenant and Restriction Agreement and/or Joint
Development Agreement

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affecting the Demised Premises. Any assignee or sublessee shall have the right
to request from Lessor, and Lessor shall be required to deliver if requested, a
Non-Disturbance Agreement.

      18. MUTUAL WAIVER OF SUBROGATION: Lessor and Lessee each hereby releases
the other and its respective employees, agents and every person claiming by,
through or under either of them, from any and all liability or responsibility
(to them or anyone claiming by, through or under them by way of subrogation or
otherwise) for any loss or damage to any property (real or personal) caused by
fire or any other insured peril covered by any insurance policies for the
benefit of either party, even if such, loss or damage shall have been caused by
the fault or negligence of the other party, its employees or agents, or such
other tenant or any employee or agent thereof.

      19. FIRE CLAUSE: The term "Total Destruction" of the Demised Premises as
used in this section is defined as damage to or destruction of the Demised
Premises by fire or other causes covered by the All-Risk insurance referred to
in Paragraph 12 to the extent that the cost of repair or reconstruction will
exceed fifty percent (50%) of the cost of rebuilding or reconstructing the
Demised Premises at the lime of such disaster. The term "Partial Destruction" of
-the Demised Premises as used in this section is defined as such damage to the
extent that the cost of repair or reconstruction will be less than fifty percent
(50%) of the cost of rebuilding or reconstructing the Demised Premises at the
time of such disaster.

      A. In the event of Total Destruction of the Demised Premises during the
first seventeen (17) years of the original term, or in the event of Partial
Destruction of the Demised Premises at any time during the term of this Lease,
Lessor shall promptly rebuild or restore the Demised Premises to as nearly as
possible its condition immediately prior to such destruction or damage, such
work to be commenced within sixty (60) days from the time of disaster and
thereafter to be prosecuted with due diligence until such rebuilding or
restoration is completed.

      B. In the event of Total Destruction of the Demised Premises during the
last thirty-six (36) months of the original term, or during any of the renewal
terms, Lessee shall have the option, in addition to any rights under Paragraph
26 hereof, of extending this Lease under the same terms and conditions as those
herein expressed for an additional term of eight (8) years from the time of the
completion and acceptance of the reconstructed Demised Premises, such option to
be exercised by Lessee's giving written notice to Lessor within thirty (30) days
after date of casualty. Should Lessee exercise such option, Lessor shall, within
sixty (60) days from receipt of written notice, commence the work of
reconstructing the Demised Premises and thereafter shall prosecute said work
with reasonable diligence until the Demised Premises has been reconstructed to
as nearly as possible its condition immediately prior to the casualty. Should
Lessee fail to exercise such option within the time aforesaid, then this Lease
shall terminate.

      C. Should Lessor be prevented from commencing the rebuilding or
restoration of the Demised Premises within the dates above provided, or if,
after such commencement, Lessor should be prevented from performing said work
because of delays beyond Lessor's control, the period of such delays shall not
be counted in computing the dates hereinabove provided for the commencement
and/or completion of the rebuilding or restoration of the Demised Premises.
Notwithstanding the Foregoing, if, for any reason, Lessor should fail to
commence and be diligently

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performing the work of rebuilding or restoration within one hundred fifty-one
(151) days from the date of the casualty, Lessee shall have the option of
terminating this Lease by giving written notice to Lessor within thirty (30)
days after the expiration of the one hundred fifty-one (151) day period.

            D. All Rent shall be abated during the period the Demised Premises
 is damaged and untenable and for a period of thirty (30) days after the date
 reconstruction is completed, or until the date upon which Lessee shall reopen
 for business, whichever is earlier.

            E. In the event of Partial Destruction of the Demised Premises,
during the period the Demised Premises is damaged and/or undergoing restoration,
all rental shall abate unless Lessee chooses to occupy a portion of the Demised
Premises, in which event Lessee shall pay rental in such proportion to the
entire rental herein reserved as the area in the Demised Premises occupied by
Lessee bears to the total space in the Demised Premises.

            F. In the event of termination of this Lease, any unearned Rent paid
by Lessee shall be prorated and refunded to Lessee.

      20. TAXES: Lessee agrees to pay all real estate taxes and special
assessments which are assessed against the Demised Premises during the Lease
Term or any extension or renewal hereof, provided that:

            A. In the event the local taxing authority will not permit a
separate tax plat, Lessor agrees to pay all such taxes and special assessments
upon receipt of the bill. Lessor shall provide a copy of the bill accompanied by
a copy of the paid receipt from the taxing authority to Lessee no later than
thirty (30) days from the date, said bill is due for payment without penalty.
Within sixty (60) days after Lessor's delivery to Lessee of paid receipts,
Lessee shall reimburse Lessor for Lessee's share of such taxes and assessments,
based upon the acreage contained in the "Wal-Mart Tax Plat Area" as the
numerator and the denominator shall be the total acreage being assessed for that
tax bill or assessments. In no event shall Lessee he responsible for payment of
any late charges or penalties for the non-payment of said bills by Lessor.

            B. In the event that Lessor fails to pay said bill, Lessee may pay
the bill and thereafter shall have the right to deduct Lessor's share, all late
charges and penalties from the monthly rent then next due.

            C. If, during the term of this Lease, Lessor receives notification
of a change in assessment of the Demised Premises, Lessor agrees to provide a
copy of said notice to Lessee within fifteen (15) days of Lessor's receipt of
said notification, to allow Lessee the right to protest any increase in
assessment. Lessor shall cooperate with Lessee including the signing of any and
all documents reasonably requested by Lessee for the prosecution of any protest.
In the event that Lessor fails to provide a copy of said notification, and the
assessed value is increased, resulting in an increase in taxes or special
assessments, Lessor agrees to pay said increase in taxes or special assessments
for each and every bill received reflective of said increase, until such time as
the Demised Premises is re-assessed and notification of same is provided to the
Lessee within fifteen (15) days from Lessor's receipt of same. Lessee agrees to
cooperate with Lessor in filing any protest of such increase in assessment at
the next opportunity. It is the intention to allow Lessee the ability to protest
any increase in assessment which would result in an increase in the taxes or
special assessments Lessee is

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                                                      Coursey Blvd. Project
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                                                      Store No. 5328-00

responsible for paying. If Lessor fails to provide any notifications of changes
in assessment, Lessee shall not be responsible for any increase in taxes or
special assessments as a result of Lessee not being notified.

            D. Lessor shall notify Lessee and all applicable taxing authorities
of any transfer of all of or a part of the ownership of the Demised Premises.
The notice shall be delivered in writing to Lessee and all applicable taxing
authorities within fifteen (15) days from the effective date of the transfer and
shall include any change or modification of the address of the Lessor. Lessee
shall not be responsible for any damages, late charges or penalties as a result
of Lessee or the applicable taxing authorities not being notified within the
time frame set forth herein.

      21. LESSEE'S FIXTURES. EQUIPMENT AND GOODS: Any and all fixtures,
equipment and goods installed by Lessee shall be and remain the property of
Lessee, and Lessee may, at any time, remove any and all fixtures, equipment and
goods installed by it in, on or about the Demised Premises; provided, that
Lessee shall promptly repair any damage or injury to the Demised Premises caused
by such removal. Any fixtures and equipment furnished by Lessor shall remain the
property of Lessor and shall not be removed by Lessee unless Lessee purchases
said equipment and fixtures from Lessor.

      22. ALTERATIONS. IMPROVEMENTS. OR STOCKROOM ADDITIONS; Lessee or any of
its assignees or subtenants shall have the right to make any alterations,
improvements, or stockroom additions to the Demised Premises for the purpose of
its business or the business of its assignees or subtenants; provided, that such
alterations, improvements, or stockroom additions shall be made in accordance
with the requirements of local ordinances and public authorities having
jurisdiction thereover, and further provided that the value of the Shopping
Center shall not be diminished thereby. In making such alterations,
improvements, or stockroom additions, Lessee may salvage any material or
equipment which shall be removed or replaced. Furthermore, Lessor will permit
Lessee to enter any other building of the Shopping Center which is within sixty
(60) feet of the nearest exterior wall of the Demised Premises and will secure
for Lessee such permission from other tenants of the building, if any, for such
work as may be necessary in connection with the alterations, improvements, or
stockroom additions to the Demised Premises. Lessor agrees to sign promptly
applications, permits or consents which may be required by public authorities in
connection with such alterations, improvements, or stockroom additions to the
Demised Premises and requested by Lessee, its assignees or subtenants. Lessee
agrees to keep the Demised Premises free of liens for labor or materials
supplied as a result of any alterations, improvements or stockroom additions in
accordance with Paragraph 31 herein.

      23. COVENANT OF TITLE AND QUIET ENJOYMENT: Lessor represents and warrants
that Lessor owns the Shopping Center, including the Demised Premises, and the
access and parking areas being a part thereof, in fee simple absolute, free and
clear of alt encumbrances, except (i) such mortgages or deed of trust that
Lessor may place on the Demised Premises for the purpose of financing the
acquisition thereof and (ii) such encumbrances that do not interfere with
Lessee's rights under this Lease or Lessee's use of the Demised Premises; that
the Demised Premises is and shall be subject to no leases, easements, covenants,
restrictions or the like which in any manner prevent or restrict Lessee's use of
the Demised Premises for any lawful purpose or which would interfere with the
construction of the

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

Addition, as described in Paragraph 31 below; that the real property
constituting the Shopping Center contains no hazardous wastes, toxic materials,
asbestos or environmental pollutants. The person(s) executing this Lease on
behalf of Lessor represent and warrant that they are the only person(s) required
to execute this Lease in order to bind Lessor and that Lessor has the full right
and lawful authority to enter into this Lease for the Lease Term; and that, if
Lessee is not in default herein, Lessee's quiet and peaceable enjoyment of the
Demised Premises during the term of this Lease or any extensions hereof shall
not be disturbed or interfered with by anyone and Lessee shall enjoy all of the
rights herein granted without any hindrance, molestation or interference by any
person and Lessor shall indemnify and hold Lessee harmless from and against any
claim, action, losses, costs, expenses, liabilities and judgments arising in
connection with the breach of any of the foregoing representations and
warranties.

      24. TITLE INSURANCE

            A. Upon execution of this Lease Lessor shall order from a reputable
and national title insurance corporation (the "Title Company"), for delivery to
Lessee within twenty (20) days of the dale of this Lease, (i) a commitment for a
policy of leasehold title insurance (the "Commitment") setting forth the state
of title to the Demised Premises and all exceptions thereto, including, without
limitation, rights-of-way, easements, restrictions, reservations, covenants,
liens, encumbrances, leases, estates and any other conditions affecting the
Demised Premises which would appear in a policy of leasehold title insurance, if
issued, and (if) a copy of any instrument creating an exception to title. Lessee
may advise Lessor of any unacceptable exceptions in the Commitment, and Lessor
may undertake to eliminate or modify such unacceptable exceptions to Lessee's
reasonable satisfaction. If Lessor does not eliminate or modify such
unacceptable exceptions within thirty (30) days after being advised of same,
Lessee may terminate this Lease by notice to Lessor, in which event neither
party hereto shall have any further obligations to the other hereunder. Failure
of Lessee to object to any exceptions in the Commitment shall not constitute a
waiver of any of Lessee's rights under any other sections of this Lease.

            B. Within ninety (90) days of the date hereof, Lessor, at Lessor's
sole cost and expense, shall procure an ALTA Form B policy of leasehold title
insurance (the "Title Policy") insuring the leasehold estate to the Demised
Premises to Lessee and Lessee's right under this Lease with respect to the use
of the Common Areas thereby insuring Lessee against loss or damage by reason of
defects in title to the Demised Premises, easements, restrictions, reservations,
leases, liens, encumbrances, covenants and the like, said policy to be in an
amount not less than the anticipated cost of the improvements to be constructed
on the Wal-Mart Tax Plat Area. If Lessor fails to pay for the Title Policy and
as a result of such failure the Title Policy is not issued within the time
specified above, Lessee shall have the right, at its option, to pay the cost of
the Title Policy and deduct the amount of said cost from the next due payment(s)
of rent.

      25. RIGHT TO MORTGAGE: Lessee, upon request of Lessor, will subordinate
this Lease to any first mortgage which now or hereafter affects the Demised
Premises and to any renewals, modifications or extensions of such mortgage. At
Lessor's written request, in which Lessor furnishes Lessee with the name and
address of mortgagee, Lessee

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

will execute and deliver a subordination, non-disturbance and attornment
agreement, which will subordinate this Lease to any first mortgage and will name
such mortgagee as an additional insured in any policies required by Paragraph 12
and deliver to such mortgagee copies of all notices required hereunder;
provided, that such instrument shall be in a form acceptable to Lessee, and
further provided that a duplicate original thereof, fully executed by such first
mortgagee, shall forthwith, be delivered to Lessee. Lessor agrees that the
continued enforceability of the subordination agreement by Lessor or its
mortgagee shall be conditioned upon Lessee being in possession of a valid
non-disturbance agreement executed by all present and any future mortgagees in
the form attached as Exhibit I regarding the Lease and, if applicable, any
Easement, Covenant and Restriction Agreement and/or Joint Development Agreement
affecting the Demised Premises.

            As further consideration for this subordination clause, Lessor
agrees that it shall make no agreement, Assignment of Rent or otherwise, with:
any mortgagee whereby Lessor is required to obtain said mortgagee's permission
in order to modify this Lease unless such proposed modification will materially
amend or modify the Lease and in addition will have an adverse effect on the
mortgagee's interest therein. Such material modifications include but are not
limited to substantial advance payments of rent, reduction of rent and
modification in the length of the term.

      26. EXTENSION OR RENEWAL: Lessee shall have the right and option to renew
this Lease and extend the term hereof for fourteen (14) consecutive periods of
five (5) years each, upon the same terms and conditions and for the same
rentals, by giving Lessor at least sixty (60) days previous written notice of
its election to make each such extension. Upon the giving of each such notice
within the time specified therefor, this Lease shall be considered as having
been extended for the period specified in such notice without the necessity of
the execution of any additional instruments.

      27. NOTICES: All notices or requests under this Lease shall be given by
certified mail or nationally recognized overnight courier service to the
addresses shown in the appearance clause of this Lease and sent to the
Attention: Legal Department with a copy to the attention of: Property Management
Each notice is effective upon receipt by addressee.

      28. SHORT FORM LEASE: Lessor and Lessee agree to execute at the time of
execution of this Lease a Short Form Lease for recording purposes, setting forth
the legal description of the Demised Premises and the term of the Lease and
referring to other pertinent provisions. Costs associated with the preparation
and recording of the Short Form Lease shall be paid by the party recording such
Short Form Lease.

      29. CONSENT; Lessor and Lessee covenant that whenever their consent or
approval is required hereunder, they will not unreasonably withhold or delay
such consent or approval.

      30. COMMON AREAS: The Common Areas shall include the vehicle parking and
other Common Areas of the Shopping Center, any common roadways, service areas,
driveways, areas of ingress and egress, sidewalks and other pedestrian ways,
landscaped areas, retaining walls, enclosed malls, fire hydrants, traffic
signalization only to the extent signals are not a public improvement, storm
water detention and retention ponds located within the Shopping

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                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

Center or offsite wetlands areas, utility systems to include sanitary lift
stations and the like, but shall not include the Building on the Demised
Premises or any other leasable areas within the Shopping Center. Lessee shall
maintain the Common Areas located on the Demised Premises as provided in
Paragraphs 6b and 21 of the Easements With Covenants and Restrictions Affecting
Land.

      31. MISCELLANEOUS:

            A. Upon the termination of this Lease, whether by lapse of time or
otherwise, the Demised Premises and related improvements shall belong to Lessor,
subject to the terms of Paragraph 21 regarding fixtures, equipment and goods of
Lessee.

            B. One or more waivers of any covenant or condition of this Lease by
Lessor or Lessee shall not be construed as a waiver of the further breach of the
same covenant or condition, or of any other covenant or condition herein
contained.

            C. The covenants, conditions and agreements of this Lease shall be
binding upon and shall inure to the benefit of the successors, heirs and assigns
of the parties hereto.

            D. This Lease and the terms hereof may be changed or modified only
by execution of such change or modification in writing by the parties hereto or
their successors, heirs and assigns.

            E. If Lessee remains in possession of the Demised Premises after the
expiration of the term of this Lease, or any renewals hereof, without the
execution of a new lease or an agreement extending the term hereof, or without
the exercise of the renewal options herein granted to Lessee, then this Lease
shall become a month to month tenancy subject to all of the terms of this Lease
as may be applicable to a month-to-month tenancy, and at the Rent provided for
herein, prorated on a monthly basis.

            F. The captions, paragraph numbers and table of contents appearing
in this Lease are inserted only as a matter of convenience and in no way define,
limit, construe or describe the scope or intern of this Lease nor in any way
affect this Lease.

            G. If any term, covenant or condition of this Lease or the
application thereof to any person or circumstance shall, to any extent, be
invalid or unenforceable, the remainder of this Lease, or the application of
such term, covenant or condition to persons or circumstances other than those as
to which it is held invalid or unenforceable, shall not be affected thereby; and
each term, covenant or condition of this Lease shall be valid and enforced to
the fullest extent permitted by law.

            H. Lessee Estoppel. Lessee shall from time to time not to exceed
three per year, within thirty (30) days after Lessor's request, execute and
deliver to Lessor written Certificates in the form attached hereto as Exhibit H
respecting the status of this Lease. Lessee agrees that such statement may be
relied upon by any mortgagee, purchaser or assignee of Lessor's interest in this
Lease, or the Demised Premises.

            I. Lessor Estoppel. Lessor shall from time to time not to exceed
three per year, within thirty (30) days after Lessee request, execute and
deliver to Lessee written Certificates in the form attached hereto as Exhibit H

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                                                      Coursey Blvd. Project
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                                                      Store No. 5328-00

respecting the status of this Lease. Lessor agrees that such statement may be
relied upon by any mortgagee, purchaser or assignee of Lessee's interest in this
Lease, or the Demised Premises.

            J. This Agreement contains the entire agreement of the parties, and
all prior communications, oral or written, are without any force and effect as
it is the specific intent of the parties that this Agreement alone sets forth
the terms on which the parties have mutually agreed. Each party specifically
agrees that it enters into this Agreement based on its own understanding of the
terms hereof and does not rely, in whole or in part, on any interpretation or
representation of the other party. Each party agrees that this Agreement is the
result of good faith arms length negotiations.

            K. This Lease Agreement does not create any obligation or
relationship such as a partnership, joint-venture or other legal relationship
under the laws of any state or the federal governments other than that of
Landlord-Tenant. Any correspondence or other references to partners or other
similar terms will not be deemed to alter, amend or change the relationship
between the parties hereto unless there is a formal written agreement
specifically detailing the rights, liabilities and obligations of the parties as
to a new, specifically defined legal relationship.

            L. This Lease and the Addenda which are or may in the future become
a part of this Lease supersede any prior agreements between the parties
concerning the Premises, and no oral statements, representations or prior
written matter relating to the subject matter hereof, but not contained in this
Lease, shall have any force or effect. Nothing contained in this Lease,
including the site plan on Exhibit C. shall give rise to duties or covenants on
the part of the Lessee, express or implied, other than the express duties and
covenants set forth herein. ANY REPRESENTATION OF LESSEE'S AGENTS OR ANY THIRD
PARTY WHICH IS NOT INCORPORATED IN THIS LEASE SHALL NOT BE BINDING UPON LESSEE
AND SHOULD BE CONSIDERED AS UNAUTHORIZED. Nothing herein contained shall be
construed to create any partnership or joint venture between the parties it
being intended that the only relationship between the parties created by this
Lease is a Landlord/Tenant relationship. This Lease shall not be amended or
added to in any way except by written instruments executed by both parties or
their respective successors in interest.

            M. This Agreement shall be interpreted and construed in accordance
with the laws of the State of Louisiana and any dispute with respect to it and
the rights and duties thereby created shall be litigated in U.S. District Court
for the State of Louisiana.

      32. RIGHT OF FIRST REFUSAL; In the event that at any time during the term
of this Lease, Lessor shall elect to sell all or any portion of the Shopping
Center as described in Exhibit "A" hereto, Lessee, or its assigns, are hereby
given the right of first refusal to purchase the same in accordance with the
procedures hereinafter set forth. In the event Lessor shall secure a firm offer
in contract form executed by any purchaser, said offer shall be submitted to
Lessee, or its successors, in writing, and the latter shall have forty-five (45)
days from the date of receipt of said notice in which to meet the terms of said
purchase as set forth in said contract. In the event Lessee shall not have
notified Lessor in writing of its election to purchase the property within the
forty-five (45) day period aforesaid, Lessor shall provide Lessee with a ten
(10) day default notice (such notice to be delivered in accordance with:
Paragraph 27 in an envelope on which is marked "TEN DAY DEFAULT NOTICE") and
Lessee shall have ten (10) days from the date of receipt of said notice

                                       19
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

in which to meet the terms of said purchase. In the event Lessee shall not have
notified Lessor in writing of its election to purchase the property within the
ten (10) day period aforesaid and in the further event Lessee shall fail to
comply with the terms of said offer to purchase within the periods therein
provided, then Lessor shall have the right to sell the property upon the terms
and conditions set forth in said notice to the purchaser designated therein. In
the event Lessor shall not forthwith thereafter consummate said sale, then the
first right of refusal herein shall continue in full force and effect with
respect to any future contemplated sales or in the event such sale shall be
consummated, said first right of refusal shall continue in full force and effect
with respect to any subsequent sales contemplated by the new owners and with
respect to any subsequent sales of a portion of the Shopping Center by Lessor
(in the event that only a portion of the Shopping Center has been previously
sold), and the same notice requirements shall apply. In the event Lessee, or its
assigns, shall elect to purchase upon the terms contained in said notice, then
Lessee shall consummate said purchase in accordance with the terms and Lessor
shall convey the property executing good and sufficient warranty deed.

      IN WITNESS WHEREOF, the parties have executed this Lease the day and year
first hereinabove written.

WITNESS OR ATTEST:             LESSOR:
                               BRIGHT-MEYERS COURSEY ASSOCIATES L.P.
                               By:   Bright-Meyers 2001 LLC, General Partner

/s/ Patricia Davis             /s/ George Bright
Secretary'                     George Bright, President

                               LESSEE:
                               WAL-MART REAL ESTATE BUSINESS TRUST
ATTEST:
/S/ Bruce E. Wicklin           /s/ Barry Shannahan
Assistant Secretary            Assistant Vice President

                               Approved as to legal terms only
                               by /s/ BEW
                               WAL-MART LEGAL DEPT.
                               Date: 05/23/2003

                                       20
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                   EXHIBIT "A"

LEGAL DESCRIPTION OUTPARCEL # 1

A certain tract of land or parcel of ground designated as the OutParcel # 1,
containing 0.838 acres or 36,500 sq. ft., being located in Section 28, T7S -
R2E, East Baton Rouge Parish, Louisiana, said parcel being more particularly
described as follows

Commencing at the intersection of the northerly right of way line of Coursey
Blvd. and the westerly property line of OutParcel #2, said point being a set cut
"X" in the sidewalk and the Point of Commencement.

Then, South 89 degrees 51 minutes 52 seconds East a distance of 453.98 feet to a
point; Then, North 00 degrees 08 minutes 08 seconds East a distance of 43.34
feet to a point; Then, South 63 degrees 19 minutes 36 seconds East a distance of
97.00 feet to a point; Then, South 89 degrees 51 minutes 52 seconds East a
distance of 72.53 feet to a point; Then, along a curve to the right having a
delta of 21 degrees 01 minutes 51 seconds, a radius of 831.47 feet, an arc
length of 305.20 feet and a chord bearing of North 79 degrees 37 minutes 13
seconds East a distance of 303.49 feet to the Point of Beginning.

Then, North 22 degrees 22 minutes 53 seconds West, a distance of 4.76 feet to a
point of a non tangent curve to the right, a delta of 97 degrees 28 minutes 38
seconds, a radius of 37.50 feet, an arc length of 63.80 feet and a chord bearing
of North 63 degrees 38 minutes 34 seconds West and a distance of 56.38 feet to a
point on a compound curve to the right having a delta of 47 degrees 17 minutes
27 seconds, a radius of 271.50 feet, an arc distance of 224.09 feet and a chord
bearing of North 08 degrees 44 minutes 28 seconds East a distance of 217.78 feet
to a point; Then, North 32 degrees 23 minutes 12 seconds East, a distance of
75.33 feet to a point; Then, South 58 degrees 03 minutes 04 seconds East, a
distance of 149.91 feet to a point; Then, South 31 degrees 56 minutes 56 seconds
West, a distance of 266.53 feet to a point on the northerly right of way of
Coursey Boulevard;

Then, along a non tangent curve to the right, having a delta of 00 degrees 32
minutes 17 seconds, a radius of 831.47 feet an arc length 7.81 feet and a chord
bearing of South 68 degrees 50 minutes 08 seconds West a distance of 7.81 feet
to the Point of Beginning.

LEGAL DESCRIPTION OUTPARCEL # 2

A certain tract of land or parcel of ground designated as the OutParcel # 2,
containing 0.828 acres or 36,070 sq. ft., being located in Section 28, T7S -
R2E, East Baton Rouge Parish, Louisiana, said parcel being more particularly
described as follows

Commencing at the intersection of the northerly right of way line of Coursey
Blvd. and the westerly property line of OutParcel # 2, said point being a set
cut "X" in the sidewalk and the Point of Beginning.

Then, departing the northerly right of way line of Coursey Blvd., North 26
degrees 40 minutes 21 seconds East, a distance of 241.61 feet to a point;

Then, South 63 degrees 19 minutes 34 seconds East, a distance of 59.95 feet to a
point; Then, South 26 degrees 38 minutes 37 seconds West, a distance of 26.22
feet to a point; Then, South 63 degrees 21 minutes 22 seconds East, a distance
of 94.35 feet to a point; Then, North 26 degrees 38 minutes 38 seconds East, a
distance of 17.95 feet to a point on a non-tangent curve to the right, having a
delta of 57 degrees 33 minutes 49 seconds, a radius of 41.65

                         EXHIBIT "A" TO LEASE AGREEMENT

                                                                     Page 1 of 5
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                   EXHIBIT "A"

feet, an arc length of 41.84 feet and a chord bearing of South 28 degrees 45
minutes 37 seconds East and a distance of 40.11 feet;

Then, South 00 degrees 01 minutes 17 second East a distance of 75.86 feet to a
point; Then, along a curve to the right having a delta of 90 degrees 06 minutes
51 seconds, a radius of 27.49 feet, an arc length of 43.24 and a chord bearing
of South 45 degrees 04 minutes 43 seconds West a distance of 38.92 feet to a
point;

Then, South 00 degrees 08 minutes 08 seconds West, a distance of 1.34 feet to a
point;

Then, North 89 degrees 51 minutes 52 seconds West, a distance of 234.36 feet to
the Point of Beginning.

LEGAL DESCRIPTION TRACT 1

A certain tract of land or parcel of ground designated as Tract 1 containing
5.492 acres or 239,230 sq. ft., being located in Section 28, T7S - R2E, East
Baton Rouge Parish, Louisiana, said parcel being more particularly described as
follows:

Commencing at the intersection of the northerly right of way line of Coursey
Blvd. and the westerly properly line of Out Parcel # 2, said point being a set
cut "X" in the sidewalk and the Point of Commencement.

Then, departing the northerly right of way line of Coursey Blvd., North 26
degrees 40 minutes 21 seconds East a distance of 241.61 feet to a found 1/2"
iron pipe; Then, North 63 degrees 19 minutes 34 seconds West a distance of 33.35
feet to a set 1/2" GIF with surveyor's cap;

Then, along a curve to the left having a delta of 00 degrees 58 minutes 02
seconds, a radius 1,879.86 feet, an arc length of 31.73 feet, a chord bearing of
North 63 degrees 48 minutes 40 seconds West and a chord distance 31.73 feet to a
set 1/2" GIP with surveyor's cap;

Then, North 26 degrees 43 minutes 20 seconds East a distance of 122.31 feet to
the Point of Beginning.

Then, North 26 degrees 43 minutes 20 seconds East, a distance of 446.15 feet to
a point; Then, South 58 degrees 03 minutes 04 seconds East, a distance of 73.03
feet to a point; Then, South 00 degrees 00 minutes 00 seconds West a distance of
144.30 feet to a point; Then, North 86 degrees 19 minutes 34 seconds East a
distance of 10.73 feet to a point, Then, North 00 degrees 00 minutes 00 seconds
East, a distance of 12.00 feet to a point; Then, North 90 degrees 00 minutes 00
seconds East, a distance of 35.00 feet to a point; Then, South 00 degrees 00
minutes 00 seconds West a distance of 12.00 feet to a point; Then, North 90
degrees 00 minutes 00 seconds East a distance of 124.76 feet to a point; Then,
South 00 degrees 00 minutes 00 seconds West a distance of 6.83 feet to a point;
Then, North 90 degrees 00 minutes 00 seconds East a distance of 36.00 feet to a
point; Then, South 00 degrees 00 minutes 00 seconds West a distance of 95.57
feet to a point; Then, North 90 degrees 00 minutes 00 seconds West a distance of
38.03 feet to a point; Then, South 00 degrees 00 minutes 00 seconds West a
distance of 217.66 feet to a point; Then, North 90 degrees 00 minutes 00 seconds
East, a distance of 25.95 feet to a point; Then, South 00 degrees 00 minutes 00
seconds West a distance of 131.36 feet to a point; Then, North 90 degrees 00
minutes 00 seconds East a distance of 238.39 feet to a point; Then, South 00
degrees 00 minutes 00 seconds West a distance of 80.44 feet to a point; Then,
South 48 degrees 41 minutes 59 seconds West, a distance of 37.95 feet to a point
on the northerly

                         EXHIBIT "A" TO LEASE AGREEMENT

                                                                     Page 2 of 5
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                   EXHIBIT "A"

right of way of Coursey Boulevard and of a non tangent curve to the right,
having a delta of 11 degrees 00 minutes 14 seconds, a radius of 831.47 feet, an
arc length of 159.69 feet and a chord bearing of South 84 degrees 38 minutes 01
seconds West and a distance of 159.44 feet to a point; Then, North 89 degrees 51
minutes 52 seconds West, a distance of 72.53 feet to a point; Then, North 63
degrees 16 minutes 36 seconds West, a distance of 97.00 feet to a point; Then,
South 00 degrees 08 minutes 08 seconds West, a distance of 43.34 feet to a
point; Then, North 89 degrees 51 minutes 52 seconds West, a distance of 219.62
feet to a point; Then, North 00 degrees 08 minutes 08 seconds East, a distance
of 1.34 feet to a point a non tangent curve to the left, having a delta of 90
degrees 06 minutes 51 seconds, a radius of 27.49 feet, an arc length of 43.24
and a chord bearing of North 45 degrees 04 minutes 43 seconds East a distance of
38.92 feet to a point;

Then, North 00 degrees 01 minutes 17 second West a distance of 75.86 feet to a
point on a curve to the left having a delta of 37 degrees 03 minutes 12 seconds,
a radius of 41.65 feet, an arc length of 26.94 feet and a chord bearing of North
18 degrees 30 minutes 19 seconds West and a distance of 26.47 feet;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 43.25 feet to a
point; Then, North 63 degrees 29 minutes 30 seconds West, a distance of 43.25
feet to a point; Then, North 26 degrees 36 minutes 43 seconds East, a distance
of 81.53 feet to a point; Then, North 00 degrees 00 minutes 00 Seconds East, a
distance of 47.89 feet to a point; Then, North 63 degrees 22 minutes 34 seconds
West, a distance of 114.58 feet to a point; Then, South 26 degrees 37 minutes 26
seconds West, a distance of 28.35 feet to a point; Then, North 63 degrees 22
minutes 34 seconds West, a distance of 34.73 feet to the Point of Beginning

LEGAL DESCRIPTION Tract 2-A

A certain tract of land or parcel of ground designated as Tract 2-A, containing
3.341 acres or 145,535 sq. ft., being located in Section 28, T7S -R2E, East
Baton Rouge Parish, Louisiana, said parcel being more particularly described as
follows:

Commencing at the intersection of the northerly right of way line of Coursey
Blvd. and the westerly property line of Out Parcel # 2, said point being a set
cut "X" in the sidewalk and the Point of Commencement.

Then, departing the northerly right of way line of Coursey Blvd., North 26
degrees 40 minutes 21 seconds East a distance of 241.61 feet to a found 1/2"
iron pipe;

Then, North 63 degrees 19 minutes 34 seconds West a distance of 33.35 feet to a
set 1/2" GIP with surveyor's cap;

Then, along a curve to the left having a delta of 00 degrees 58 minutes 02
seconds, a radius 1,879.86 feet, an arc length of 31.73 feet, a chord bearing of
North 63 degrees 48 minutes 40 seconds West and a chord distance 31.73 feet to a
set 1/2" GIP with surveyor's cap;

Then, North 26 degrees 43 minutes 20 seconds East a distance of 568.46 feet to a
point;

Then, South 58 degrees 03 minutes 04 seconds East, a distance of 73.03 feet to
the Point of Beginning.

Then, South 58 degrees 03 minutes 04 seconds East, a distance of 666.06 feet to
a point; Then, South 32 degrees 23 minutes 12 seconds West, a distance of 75.33
feet to a point;

                         EXHIBIT "A" TO LEASE AGREEMENT

                                                                     Page 3 of 5
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                   EXHIBIT "A"

Thence, along a curve to the left having a delta of 47 degrees 17 minutes 27
seconds, a radius of 271.50 feet, an arc distance of 224.09 feet and a chord
bearing of South 08 degrees 44 minutes 28 seconds West and a chord distance of
217.78 feet to a point of compound curve to the left having a delta of 97
degrees 28 minutes 38 seconds, a radius of 37.50 feet, an arc of 63.80 feet and
a chord bearing of South 63 degrees 3 8 minutes 34 seconds East a distance of
56.3 8 feet to a point; Then, South 22 degrees 22 minutes 53 seconds East, a
distance of 4.76 feet to a point on the northerly right of way of Coursey
Boulevard;

Then, along a non-tangent curve to the right, having a delta of 10 degrees 01
minutes 37 seconds, a radius of 831.47 feet, an arc length of 145.51 feet and a
chord bearing of South 74 degrees 07 minutes 06 seconds West and a distance of
145.32 feet;

Then, departing said right of way, North 48 degrees 41 minutes 59 seconds East a
distance of 37.95 feet to a point;

Then, North 00 degrees 00 minutes 00 seconds East a distance of 80.44 feet to a
point;

Then, South 90 degrees 00 minutes 00 seconds West, a distance of 238.39 feet to
a point;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 131.36 feet to
a point;

Then, South 90 degrees 00 minutes 00 seconds West, a distance of 25.95 feet to a
point;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 217.66 feet to
a point;

Then, South 90 degrees 00 minutes 00 seconds East, a distance of 38.03 feet to a
point;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 95.57 feet to a
point;

Then, South 90 degrees 00 minutes 00 seconds West, a distance of 36.00 feet to a
point;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 6.83 feet to a
point;

Then, South 90 degrees 00 minutes 00 seconds West, a distance of 124.76 feet to
a point;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 12.00 feet to a
point;

Then, South 90 degrees 00 minutes 00 seconds West, a distance of 35.00 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West, a distance of 12.00 feet to a
point;

Then, South 86 degrees 19 minutes 34 seconds West a distance of 10.73 feet to a
point;

Then, North 00 degrees 00 minutes 00 seconds East a distance of 144.30 feet to
the Point of Beginning.

LEGAL DESCRIPTION TRACT 2-B

A certain tract of land or parcel of ground designated as Tract 1 containing
0.646 acres or 28,140 sq. ft., being located in Section 28, T7S - R2E, East
Baton Rouge Parish, Louisiana, said parcel being more particularly described as
follows:

Commencing at the intersection of the northerly right of way line of Coursey
Blvd. and the westerly property line of Out Parcel # 2, said point being a set
cut "X" in the sidewalk and the Point of Commencement.

Then, departing the northerly right of way line of Coursey Blvd., North 26
degrees 40 minutes 21 seconds East a distance of 241.61 feet to a found 1/2"
iron pipe and the Point of Beginning;

Then, North 63 degrees 19 minutes 34 seconds West a distance of 33.35 feet to a
set 1/2" GIP with surveyor's cap;

Then, along a curve to the left having a delta of 00 degrees 58 minutes 02
seconds, a radius 1,879.86 feet, an arc length of 31.73 feet, a chord bearing of
North 63 degrees 48 minutes 40 seconds West and a chord distance 31.73 feet to a
set 1/2" GIP with surveyor's cap; Then, North 26 degrees 43 minutes 20 seconds
East a distance of 122.31 feet to a point; Then, South 63 degrees 22 minutes 34
seconds East a distance of 34.73 feet to a point;

                         EXHIBIT "A" TO LEASE AGREEMENT

                                                                     Page 4 of 5
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                   EXHIBIT "A"

Then, North 26 degrees 37 minutes 26 seconds East a distance of 28.35 feet to a
point; Then, South 63 degrees 22 minutes 34 seconds East a distance of 114.58
feet to a point; Then, South 00 degrees 00 minutes 00 seconds West a distance of
47.89 feet to a point; Then, South 26 degrees 36 minutes 43 seconds West a
distance of 81.53 to a point; Then, South 63 degrees 29 minutes 30 seconds East
a distance of 43.25 feet to a point; Then, South 00 degrees 00 minutes 00
Seconds West a distance of 43.25 feet to a point on a non-tangent curve to the
left having a delta of 20 degrees 30 minutes 37 seconds, a radius of 41.65 feet,
an arc length of 14.91 feet and a chord bearing of North 47 degrees 17 minutes
14 seconds West a distance of 14.83 feet to a point;

Then, South 26 degrees 3 8 minutes 3 8 seconds West a distance of 17.95 feet to
a point;

Then, North 63 degrees 21 minutes 22 seconds West a distance of 94.35 feet to a
point;

Then, North 26 degrees 38 minutes 38 seconds East a distance of 26.22 feet to a
point;

Then, North 63 degrees 19 minutes 34 seconds West a distance of 59.95 feet to
the Point of Beginning.

                         EXHIBIT "A" TO LEASE AGREEMENT

                                                                     Page 5 of 5
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                  EXHIBIT "A-1"

LEGAL DESCRIPTION TRACT 1

A certain tract of land or parcel of ground designated as Tract 1 containing
5.492 acres or 239,230 sq. ft., being located in Section 28, T7S - R2E, East
Baton Rouge Parish, Louisiana, said parcel being more particularly described as
follows:

Commencing at the intersection of the northerly right of way line of Coursey
Blvd. and the westerly property line of Out Parcel # 2, said point being a set
cut "X" in the sidewalk and the Point of Commencement.

Then, departing the northerly right of way line of Coursey Blvd., North 26
degrees 40 minutes 21 seconds East a distance of 241.61 feet to a found 1/2"
iron pipe; Then, North 63 degrees 19 minutes 34 seconds West a distance of 33.35
feet to a set 1/2" G1P with surveyor's cap;

Then, along a curve to the left having a delta of 00 degrees 58 minutes 02
seconds, a radius 1,879.86 feet, an arc length of 31.73 feet, a chord bearing of
North 63 degrees 48 minutes 40 seconds West and a chord distance 31.73 feet to a
set 1/2" GIF with surveyor's cap;

Then, North 26 degrees 43 minutes 20 seconds East a distance of 122.31 feet to
the Point of Beginning.

Then, North 26 degrees 43 minutes 20 seconds East, a distance of 446.15 feet to
a point;

Then, South 58 degrees 03 minutes 04 seconds East, a distance of 73.03 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 144.30 feet to a
point;

Then, North 86 degrees 19 minutes 34 seconds East a distance of 10.73 feet to a
point,

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 12.00 feet to a
point;

Then, North 90 degrees 00 minutes 00 seconds East, a distance of 35.00 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 12.00 feet to a
point;

Then, North 90 degrees 00 minutes 00 seconds East a distance of 124.76 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 6.83 feet to a
point;

Then, North 90 degrees 00 minutes 00 seconds East a distance of 36.00 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 95.57 feet to a
point;

Then, North 90 degrees 00 minutes 00 seconds West a distance of 38.03 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 217.66 feet to a
point; Then, North 90 degrees 00 minutes 00 seconds East, a distance of 25.95
feet to a point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 131.36 feet to a
point;

Then, North 90 degrees 00 minutes 00 seconds East a distance of 238.39 feet to a
point;

Then, South 00 degrees 00 minutes 00 seconds West a distance of 80.44 feet to a
point;

Then, South 48 degrees 41 minutes 59 seconds West, a distance of 37.95 feet to a
point on the northerly right of way of Coursey Boulevard and of a non tangent
curve to the right, having a delta of 11 degrees 00 minutes 14 seconds, a radius
of 831.47 feet, an arc length of 159.69 feet and a chord bearing of South 84
degrees 38 minutes 01 seconds West and a distance of 159.44 feet to a point;

Then , North 89 degrees 51 minutes 52 seconds West, a distance of 72.53 feet to
a point;

Then, North 63 degrees 16 minutes 36 seconds West, a distance of 97.00 feet to a
point; Then, South 00 degrees 08 minutes 08 seconds West, a distance of 43.34
feet to a point;

Then, North 89 degrees 51 minutes 52 seconds West, a distance of 219.62 feet to
a point;

Then, North 00 degrees 08 minutes 08 seconds East, a distance of 1.34 feet to a
point a non tangent curve to the left, having a delta of 90 degrees 06 minutes
51 seconds, a radius of 27.49 feet, an arc length of 43.24 and a chord bearing
of North 45 degrees 04 minutes 43 seconds East a distance of 38.92 feet to a
point;

                        EXHIBIT "A-1" TO LEASE AGREEMENT

                                                                     Page 1 of 2
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                                  EXHIBIT "A-1"

Then, North 00 degrees 01 minutes 17 second West a distance of 75.86 feet to a
point on a curve to the left having a delta of 37 degrees 03 minutes 12 seconds,
a radius of 41.65 feet, an arc length of 26.94 feet and a chord bearing of North
18 degrees 30 minutes 19 seconds West and a distance of 26.47 feet;

Then, North 00 degrees 00 minutes 00 seconds East, a distance of 43.25 feet to
a- point;

Then, North 63 degrees 29 minutes 30 seconds West, a distance of 43.25 feet to a
point;

Then, North 26 degrees 36 minutes 43 seconds East, a distance of 81.53 feet to a
point;

Then, North 00 degrees 00 minutes 00 Seconds East, a distance of 47.89 feet to a
point;

Then, North 63 degrees 22 minutes 34 seconds West, a distance of 114.58 feet to
a point;

Then, South 26 degrees 37 minutes 26 seconds West, a distance of 28.35 feet to a
point;

Then, North 63 degrees 22 minutes 34 seconds West, a distance of 34.73 feet to
the Point of Beginning

                        EXHIBIT "A-1" TO LEASE AGREEMENT

                                                                     Page 2 of 2
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

               WAL-MART STORES, INC. STORE MAINTENANCE DATA SHEET

****Store Occupancy Date: ____________________  ****Store # ______________
****Store Size: _____________________    Location:________________________
    Type of Building Construction        Walls:___________________________
                                              Roof:_______________________

<TABLE>
<CAPTION>
              COMPANY NAME                LOCATION            TELEPHONE NO.
              ------------                --------            -------------
<S>                                  <C>                    <C>
Developer: _______________________   __________________     __________________
Contractors:
       Electrical ________________   __________________     __________________
       Plumbing   ________________   __________________     __________________
       Sprinkler  ________________   __________________     __________________
       Roofing    ________________   __________________     __________________
       H & A/C    ________________   __________________     __________________
       Paving     ________________   __________________     __________________
</TABLE>

                     HEATING AND AIR CONDITIONING EQUIPMENT

                        GAS-FIRED ( ) ELECTRICAL HEAT ( )

<TABLE>
<CAPTION>
QUANTITY      MANUFACTURER      MODEL#      HEAT/COOL(BTU's)          COOL
<S>         <C>                 <C>      <C>                      <C>
________    _________________   ______   ______________________   ______________
________    _________________   ______   ______________________   ______________
________    _________________   ______   ______________________   ______________
</TABLE>

                            MISCELLANEOUS INFORMATION

<TABLE>
<CAPTION>
                         QUANTITY  MANUFACTURER     CATALOG/MODEL#
                         --------  ------------     --------------
<S>                      <C>       <C>           <C>
Parking Lot
     Light Fixtures      ________  ____________  ________No._________
Ballasts                 ________  ____________  ________No._________
Lamps                    ________  ____________  ________No._________
Ceiling Light Fixtures:
     Ballasts            ________  ____________  ________No._________
     Lamps               ________  ____________  ________No._________
Time Clocks              ________  ____________  ________No._________
     Control What?       ________  ____________  ________No._________
Door Closers             ________  ____________  ________No._________
Ceiling Panels           ________  ____________  ________No._________
Floor Tile/Dark          ________  ____________  ________No._________
Floor Tile/Light         ________  ____________  ________No._________
</TABLE>

                                   *****SIGNS

<TABLE>
<CAPTION>
                      MANUFACTURER            INSTALLER        TELEPHONE#
<S>               <C>                       <C>               <C>
Store Front       ____________________      _____________     _____________
Roadside          ____________________      _____________     _____________
</TABLE>

****Information to be filled in by Wal-Mart

                                                                        INITIAL
                                                                        _______

                         EXHIBIT "D" TO LEASE AGREEMENT

<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                   REAL PROPERTY TAX GUIDELINES FOR DEVELOPER

      The following tax information must be completed by the Developer prior to
the payment of full rent for the property located at:

                  ____________________________________________

                  ____________________________________________
                                    (Address)

1.   Can Wal-Mart's property be separately tax platted and billed?

        Yes: ___; No:__

      If yes, then follow the instructions in number 2 and skip the instructions
      for number 1. If Wal-Mart's property cannot be separately tax platted and
      billed, then the Developer must:

      a.    Send the tax statements to:

                  Wal-Mart Stores, Inc.
                  Property Tax Department - 8013
                  130IS.E.10th Street
                  Bentonville, AR 72716-8013

            Note: The tax bill should reflect Wal-Mart's pro rata share of the
            taxes per the Lease Agreement.

            What percentage of the proration of taxes on Wal-Mart's parcel will
            Wal-Mart be responsible for: ___%.

      b.    Follow the instructions in number 3-7.

      If Wal-Mart's property can be separately tax platted and billed, then the
Developer must:

      a.    File a plat, if the jurisdiction requires, or file a certified
            survey with the assessor that outlines and describes Wal-Mart's
            parcel. The Developer will provide a plat if the jurisdiction
            requires a plat for taxing purposes. Additionally, indicate the tax
            identification number, if available, for Wal-Mart's parcel. If the
            tax identification number is not available at this time, then
            specify a future date when it will be available. Tax I.D.*
            ___________; Future date: _____________

      b.    The Developer must also notify the taxing authorities that the tax
            statements are to be sent to:

                  Wal-Mart Stores, Inc.
                  Property Tax Department - 8013
                  130IS.E.10th Street
                  Bentonville, AR 72716-8013

      c.    Follow the instructions in numbers 3-7.

3.    Obtain details of any special assessments that may encumber Wal-Mart's
      parcel and record below, including assessment start and assessment end
      dates, yearly assessments and total special assessments due:
      ______________________________________________________________________
      ______________________________________________________________________

                         EXHIBIT "E" TO LEASE AGREEMENT

                                  (Page 1 of 2)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

4.    Please provide the following information on the taxing authorities which
      may tax Wal-Mart's parcel.

<TABLE>
<CAPTION>
                 COUNTY:   City;   School District:    Other:
                 -------   -----   ----------------    ------
<S>              <C>      <C>      <C>                 <C>
Name:            _______  _______      _______         _______
Address:         _______  _______      _______         _______
                 _______  _______      _______         _______
Phone #          _______  _______      _______         _______
Tax Year         _______  _______      _______         _______
Begin/End:       _______  _______      _______         _______
Tax Billing      _______  _______      _______         _______
Date:            _______  _______      _______         _______
Tax Delinquency
Date:            _______  _______      _______         _______
</TABLE>

5.    Is this property located within the city limits? Yes __; No __.

      If no, will this property be annexed into the city limits prior to the
      opening for business of the building to be constructed on the property?
      Yes: _____________; No: ______________,

6.    Identify Wal-Mart's parcel, including parcel number, on a certified
      survey, and include a legal description of Wal-Mart's parcel.

7.    Execute this document and return it to the Real Estate Manager upon
      completion of items #1-6.

Thank you for your cooperation in this matter.

By signing below you are indicating that you have accurately and completely
fulfilled the above requests.

                           -Date: ____________________________
                           -By: ______________________________
                                           (Developer)

                           Address:  _________________________
                                     _________________________
                           Phone#:____________________________
                           Lessor's Federal Tax I.D.#:.______________

                                                                         INITIAL
                                                                         _______

                         EXHIBIT "E" TO LEASE AGREEMENT

                                  (Page 2 of 2)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

    WAL-MART PROJECT COSTS SHEET
Location: _________________________________
Store Size: _______________________________
Developer: ________________________________
Developer's Address: ______________________
Date: _____________________________________

<TABLE>
<CAPTION>
                                                               TOTAL COSTS
Land                                                     (Wal-Mart Share Only)
<S>                                                      <C>
  Land Price                                                    __________
  Real Estate                                                   __________
  Taxes Closing Costs (Title Insurance,
   Attorneys Fees)                                              __________
   IMPROVEMENTS:

      Building and Site Work                                    __________
      Soil Tests                                                __________
      Survey & Site/Engineering Fees                            __________
      Construction Bond (Included in
        Building and Site Work)                                 __________
      Construction Interest                                     __________
      Financing Fee                                             __________
      Change Orders
           TOTAL COST OF IMPROVEMENTS                           __________
           TOTAL COST OF LAND & IMPROVEMENTS                    __________
</TABLE>

                                                                         INITIAL
                                                                         _______

                         EXHIBIT "F" TO LEASE AGREEMENT

<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

                          EASEMENTS WITH COVENANTS AND
                       RESTRICTIONS AFFECTING LAND ("ECR")

      THIS AGREEMENT is made the ______ day of __________________, 20___,
between WAL-MART REAL ESTATE BUSINESS TRUST, a Delaware statutory trust, with
offices at 702 S.W. Eighth Street, Bentonville. Arkansas 72716 and a mailing
address of 2001 S.E. Tenth Street, Bentonville, Arkansas 72716-0550,
("Wal-Mart"), and BRIGHT-MEYERS COURSEY ASSOCIATES, L.P., a Tennessee limited
partnership, of 537 Market Street, Suite 400, Chattanooga, Tennessee, Federal
Tax I.D. *____________, ("Developer").

WITNESSETH:

      WHEREAS, Developer is the owner of Tract 1, Tract 2. Outparcel 1 and
Outparcel 2 (collectively, the "Outparcels"), as shown on the plan attached
hereto as Exhibit A hereof, said Tracts 1 and 2 being more particularly
described in Exhibit B attached hereto and said Outparcels 1 and 2 being more
particularly described in Exhibit C attached hereto;

      WHEREAS, Wal-Mart is the Lessee (as defined herein) of Tract 1 as shown on
the plan attached hereto as Exhibit A hereof;

      WHEREAS, Wal-Mart, as Lessee of Tract 1, has the right of first refusal to
purchase Tract 1 upon the satisfaction by Wal-Mart of the terms and conditions
of paragraph 32. of the Lease Agreement entered into by and between Developer
and Wal-Mart;

      WHEREAS, Wal-Mart and Developer desire that Tracts 1. 2, and the
Outparcels be developed in conjunction with each other pursuant to a general
plan of improvement to form a commercial Shopping Center (sometimes hereinafter
referred to as the "Shopping Center"), and further desire that said Tracts and
the Outparcel(s) be subject to the easements and the covenants, conditions and
restrictions hereinafter set forth;

NOW, THEREFORE, for and in consideration of the premises, easements, covenants,
conditions, restrictions, and encumbrances contained herein, the sufficiency of
which is hereby acknowledged, Wal-Mart and Developer do hereby agree as follows:

1. BUILDING/COMMON AREAS.

      a. "Building Areas" as used herein shall mean that portion of Tract I and
      those portions of Tract 2 shown on Exhibit A as "Building Area" (and
      "Future Building Area" and "Future Expansion Area"). Canopies may encroach
      from the Building Areas over the Common Areas provided the canopies do not
      interfere with the use of the Common Areas,

      b. "Common Areas" shall be all of Tracts 1, 2, and 5 except the Building
      Areas.

      c. Conversion to Common Areas: Those portions of the Building Areas on
      each Tract which are not from time to time used or cannot, under the terms
      of this Agreement (including Paragraph

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 1 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

6a[3]), be used for buildings shall become part of the Common Area for the uses
permitted hereunder and shall be improved, kept and maintained as provided
herein.

      d.    "Lessee" shall mean Wal-Mart.

      e.    "Tract" or "Tracts" shall mean either Tract 1. and or Tract 2. and
            or the collective Tracts, as the context may require.

      f.    "Owner" shall mean the Owner in fee simple from time to time of all
            or any portion of Tract 1, Tract 2, or. the Outparcels.
            Notwithstanding the foregoing, Wal-Mart shall be considered, for
            purposes hereof, the Owner of Tract 1 regardless of whether Wal-Mart
            enjoys a property right interest in Tract 1 as a lessee or owner of
            a fee simple interest.

      g.    "Outparcel" or "Outparcels" shall mean either Outparcel 1 and or
            Outparcel 2 and/or the collective Outparcels.

      h.    "Wal-Mart" shall mean Wal-Mart Real Estate Business Trust, a
            Delaware statutory trust, and any of its affiliates.

      i.    Notwithstanding the forgoing, Wal-Mart (for so long Wal-Mart is a
            leasee, or Owner, of all or a portion of Tract 1 is in effect) may
            add additional building areas or change, delete, enlarge, reduce or
            otherwise modify existing Building Areas, so long as such changes do
            not impair access to Tract 2, and are done in compliance with
            applicable laws and ordinances, and further provided that the value
            of the Shopping Center shall not be materially diminished thereby.

2. USE.

      a.    Buildings in the Shopping Center shall be used for commercial
            purposes of the type normally found in a retail shopping center
            including, without limitation, financial institutions, service
            shops, offices, and retail stores. No cafeteria, theme, bowling
            alley, billiard parlor, night club or other place of recreation or
            amusement shall occupy space within the Shopping Center without the
            prior written consent of Wal-Mart. Notwithstanding anything to the
            contrary contained herein it is expressly agreed that nothing
            contained in this Agreement shall be construed to contain a
            covenant, either express or implied, to either commence the
            operation of a business or thereafter continuously operate a
            business by Wal-Mart on Tract 1. Developer recognizes and agrees
            that Wal-Mart may, at Wal-Mart's sole discretion and at any time
            during the term of this Agreement, cease the operation of its
            business on Tract 1; and Developer hereby waives any legal action
            for damages or for equitable relief which might be available to
            Developer because of such cessation of business activity by
            Wal-Mart.

      b.    Wal-Mart shall not sell, lease, rent or permit Tract 1 to be used or
            occupied for other than retail uses which retail uses shall include
            but not be limited to a gas station or convenience store with
            fueling stations, and/or a business engaged in automobile tire
            sales, as are customarily found in similar shopping centers in the
            state and parish where the Shopping Center is located.

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 2 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

      3. COMPETING BUSINESS. Developer covenants that as long as Wal-Mart, or
its sublessees, or any affiliate of Wal-Mart, is the user of all or a portion of
Tract 1, as owner or lessee, no space in or portion of Tract 2 and/or Outparcel
1 or Outparcel 2. and no space in or portion of any other real property adjacent
to the Shopping Center which may subsequently be acquired by Developer, shall be
leased or occupied by or conveyed to any other party for use as (i) a grocery
store or supermarket, as hereinafter defined below, (ii) a wholesale club
operation similar to that of a Sam's Club owned and operated by Wal-Mart, (iii)
a discount department store or other discount store, as hereinafter defined,
(iv) pharmacy; or (v) a gas station or convenience store with fueling
station(s). Developer further covenants that as long as Wal-Mart, or its
sublessee, or its Affiliate, is the user of all or a portion of Tract 1, either
as owner or lessee, no space in or portion of the Shopping Center, and no space
in or portion of any other immovable property adjacent to the Shopping Center
which may subsequently be acquired by Developer or its Affiliate, shall be
leased or occupied by or conveyed to any other Person for use as a variety,
general or dollar store containing more than 12,000 sq. ft. of gross leasable
area, whose overall retail concept is based on a discounting price structure. In
the event of a breach of this covenant, Wal-Mart shall have the right, to
terminate this Agreement and to seek any and all remedies afforded by either law
or equity, including, without limitation, the rights to injunctive relief.
"Grocery store" and "supermarket", as those terms are used herein, shall mean a
food store or a food department containing more than 5,000 square feet of gross
leasable area, other than the Demised Premises, for the purpose of selling food
for consumption off the premises, which shall include but not be limited to the
sale of dry. refrigerated or frozen groceries, meat, seafood, poultry, produce,
delicatessen or bakery products, refrigerated or frozen dairy products, or any
grocery products normally sold in such stores or departments, "Discount
department store" and/or discount store", as those terms are used herein, shall
mean a discount department store or discount store containing more than 35.000
square feet of gross leasable area, other than the Demised Premises, for the
purpose of selling a full tine of hard goods and soft goods (e.g. clothing,
cards, gifts, electronics, garden supplies, furniture, pharmacy, lawnmowers,
toys, health and beauty aids, hardware items, bath accessories and auto
accessories) at a discount in a retail operation similar to that of Wal-Mart.

      4. BUILDINGS.

            a.    Design and Construction. Any structures within the Buildings
                  Areas shall be designed so that the exterior elevation of each
                  shall be architecturally and aesthetically compatible and so
                  that building wall footings shall not encroach from one Tract
                  onto another Tract except as provided for in Subsection d,
                  below. The design and construction shall be of high quality.
                  No building shall exceed thirty-five feet (35') in height
                  above finished grade. No building shall have a metal exterior.

            b.    Location. Subject to paragraph 1(e), no building shall be
                  constructed on Tract 1 or 2 (as either immediate development
                  or future expansion) except within the Building Areas and no
                  improvements or alterations which substantially vary from
                  those shown on Exhibit A may be made without the prior written
                  consent of Wal-Mart. Subject to paragraph 1(e), the front

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 3 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

               wall(s) of the building(s) on Tracts 1 and 2 shall be
               constructed. in the location shown in Exhibit A.

            c.    Fire Protection. Any building constructed in the Shopping
                  Center shall be constructed and operated in such a manner
                  which will preserve the sprinklered rate on the other
                  buildings in the Shopping Center.

            d.    Easements. In the event building wall footings encroach from
                  one Tract onto another, despite efforts to avoid that
                  occurrence, the parry onto whose Tract the footings encroach
                  shall cooperate in granting an encroachment permit or easement
                  to the party whose building wall footings encroach.

            e.    Outparcel(s) Development. The Outparcel(s) shall be developed
                  only under the following guidelines:

                  (1)   The building constructed on the Outparcel(s) shall not
                        exceed twenty-two (22) feet in height, as measured from
                        the mean finished elevation of the parking area of the
                        Shopping Center;

                  (2)   Any buildings lo be constructed on the Outparcel(s)
                        shall not exceed 5,000 square feel in size.

                  (3)   Any rooftop equipment shall be screened in a manner
                        satisfactory to the Developer;

                  (4)   No rooftop sign shall be erected on the building
                        constructed;

                  (5)   No freestanding identification sign may be erected on
                        the Outparcel(s) without approval of the Developer, and
                        in no event shall such freestanding identification sign
                        exceed the height of the shopping center pylon sign or
                        block the visibility of the Wal-Mart Store.
                        Notwithstanding the foregoing, there may be erected
                        entrance-exit signs to facilitate the free flow of
                        traffic, which entrance-exit signs shall be of a
                        monument type, not to exceed 3'3" in height, the type
                        and location of such signs to be approved by Developer.

                  (6)   No improvement shall be constructed, erected, expanded
                        or altered on the Outparcel(s) until the plans for same
                        (including site layout, exterior building materials and
                        colors and parking) have been approved in writing by
                        Developer and Wal-Mart. No building or structure of any
                        kind shall be erected on the Outparcel(s) except upon
                        that area designated as a building area on the Site
                        Plan: provided, there may be constructed and maintained
                        a canopy or canopies projecting from said building area;
                        normal foundations and doors for ingress and egress may
                        project from such building area: and signs may be
                        erected upon said canopy or canopies, so long as said
                        signs do not obstruct the signs of any other owner or
                        tenant of the Shopping Center.

                         EXHIBIT "G" TO LEASE ACREEMENT

                                 (PAGE 4 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                  (7)   In developing and using the Outparcel(s). the owner of
                        the Outparcel(s) shall continuously provide and maintain
                        a parking ratio on such Outparcel(s) equal to one of the
                        following: (i) fifteen (15) spaces for every one
                        thousand (1.000) square feet of building space for any
                        restaurant or entertainment use in excess of five
                        thousand (5,000) square feet, (the same ratio shall be
                        provided for a McDonald's Restaurant, notwithstanding a
                        building footprint of less than five thousand (5,000)
                        square feet); or (ii) ten (10) spaces for every one
                        thousand (1.000) square feet of building space for any
                        restaurant or entertainment use less than five thousand
                        (5,000) square feet (subject to the exception above); or
                        (iii) six (6.0) spaces per one thousand (1,000) square
                        feet of building space for any other use. In addition,
                        the owner shall cause landscaping areas to be added and
                        maintained in conjunction with any building or other
                        improvement constructed on the Outparcel(s).

                  (8)   The Outparcel(s) shall be kept neat, orderly, planted in
                        grass and trimmed until improved and constructed.

                  (9)   Subject to the prior written consent of Developer, any
                        building, structure or improvement on the Outparcel(s)
                        shall be used for retail or commercial purposes only,
                        however, no building, structure or improvement on the
                        Outparcel(s) may be used as a theater, night club,
                        bowling alley, health spa, cafeteria, billiard parlor or
                        other place of recreation or amusement, or as a business
                        serving or selling alcoholic beverages or as a discount
                        department store or a variety, general or "dollar"
                        store.

                  (10)  The owner(s) of the Outparcel(s) shall maintain
                        comprehensive public liability insurance, property
                        damage and All-Risk hazard insurance on the Outparcel(s)
                        their buildings, appurtenances and other improvements
                        located thereon. Such insurance shall (i) be carried
                        with reputable companies licensed to do business in the
                        state in which the Outparcel(s) are located; (ii) have
                        liability limits of at least $5,000,000.00 for each
                        occurrence, bodily injury and property damage combined;
                        (iii) provide for full replacement value for the
                        buildings and improvements covered thereunder and (iv)
                        not be subject to change, cancellation or termination
                        without at least thirty (30) days prior written notice
                        to Wal-Mart and the owners of Tract 1 and Tract 2.

      5. COMMON AREAS.

            A. GRANT OF EASEMENTS,.

                  (1)   Developer and Wal-Mart each hereby establishes and
                        grants a nonexclusive easement for the benefit of the
                        owner of each Tract, and their agents, customers,
                        invitees, licensees, tenants and employees, over,
                        through and around their respective Tracts for roadways,
                        walkways, ingress and egress, parking of motor vehicles,

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 5 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                        loading and unloading of commercial and other vehicles,
                        and the use of facilities installed for the comfort and
                        convenience of customers, invitees, licensees, tenants
                        and employees of all businesses and occupants of the
                        buildings constructed on the Building Areas defined
                        above.

                  (2)   In addition to the foregoing. Developer hereby grants
                        for the benefit of those certain Outparcel(s) now owned
                        by Developer and identified on Exhibit C. nonexclusive
                        easements for vehicular and pedestrian access, ingress,
                        and egress over and across Tract 1 and Tract 2;
                        provided, however, in no event shall the owner occupant,
                        licensee or invitee of Outparcel 1 be permitted to use
                        Tract 1 or Tract 2, for vehicular parking,

      b.    Limitations on Use.

                  (1)   Customers. Each party shall use reasonable efforts to
                        ensure that customers and invitees shall not be
                        permitted to park on the Common Areas except while
                        shopping or transacting business on Tracts 1 and 2.

                  (2)   Employees. Each party shall use reasonable efforts to
                        ensure that employees shall not park on the Common
                        Areas, except in areas designated on Exhibit A as
                        "employee parking areas," if any. The parties hereto may
                        from time to time mutually designate and approve
                        "employee parking areas" not shown on Exhibit A.

                  (3)   General. Any activity within the Common Areas other than
                        its primary purpose of the Common Areas, which is to
                        provide for parking for the customers, invitees and
                        employees of those businesses conducted with the
                        Building Areas and for the servicing and supplying of
                        such businesses, shall be permitted so long as such
                        activity shall not unreasonably interfere with such
                        primary purpose. The use by the owner or tenant(s) of
                        Tract 1 of the Common Areas on such Tract 1 for the
                        display, sale and storage of merchandise and for the use
                        of seasonal sales structures is expressly permitted.
                        Persons using the Common Areas in accordance with this
                        Agreement shall not be charged any fee for such use.

      c.    Utility and Service Easements. Developer hereby establishes and
            grants a nonexclusive easement for the benefit of the owner of each
            Tract or Outparcel, on, across and under the Common Areas and those
            areas of any Outparcel not used for buildings, to install, use,
            maintain and repair public utility services and distribution systems
            (including storm drains, sewers, utilities and other proper services
            necessary for the orderly development and operation of the Shopping
            Center and the Outparcel(s)), now upon or hereafter installed on,
            across or under the Common Areas or those areas of any Outparcel not
            used for buildings, to the extent necessary to service such Tract or
            Outparcel. Both parties shall use their best efforts to cause

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 6 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, Louisiana
                                                      Store No. 5328-00

            the installation of such utility and service lines prior to paving
            of the Common Areas. The location of any utilities hereafter
            installed shall be determined by the owner of the Tract (the
            location of utilities on Tract 1 shall be determined by Wal-Mart as
            long as its lease for Tract 1 is in effect) or Outparcel upon which
            such utilities are to be installed. Any such installed utility
            services may be relocated by the owner of a Tract or Outparcel on
            such owner's Tract or Outparcel subject to compliance with
            applicable laws, at the expense of the owner of that Tract or
            Outparcel, provided that such relocation shall not interfere with,
            increase the cost of, or diminish utility services to any other
            Tract or Outparcel and. further provided, that no utilities shall be
            relocated on Tract 1 without the prior written consent of Wal-Mart
            as long as its lease for Tract 1 is in effect.

      d.    Water Flow. Developer and Wal-Mart hereby establishes and grants a
            nonexclusive easement for the benefit of the owner of each Tract or
            Outparcel to use, maintain and repair any storm water drainage
            system (the "Storm Drainage System") now or hereafter located on
            either Tract or any Outparcel, together with the right to discharge
            surface water runoff across portions of either Tract or any
            Outparcel in accordance with the design of the Storm Drainage
            System. Any alteration in the natural water flow which may occur as
            a natural consequence of normal construction activities and the
            existence of the party's improvements substantially as shown on
            Exhibit A (including without limitation building and building
            expansion, curbs, drives and paving) shall be permitted.

      6. DEVELOPMENT. MAINTENANCE, AND TAXES.

            a.    Development.

                        (1)   Arrangement. The arrangement of the Common Areas
                              shall not be changed in a manner inconsistent with
                              the provisions of this Agreement.

                        (2)   "Parking Area" Ratio. Developer, agrees that at
                              all times there shall be independently maintained
                              on Tract 2 a parking area sufficient to
                              accommodate no fewer than five (5.00) car spaces
                              for each one thousand (1,000) square feet of
                              Building Area on such Tract subject to variances
                              due to condemnation. Developer and/or Wal-Mart, as
                              the Lessee or Owner of Tract 1, agrees that at all
                              times there shall be independently maintained on
                              Tract 1 parking area sufficient to accommodate no
                              fewer man five (5.00) car spaces for each one
                              thousand (1,000) square feet of Building Area on
                              such Tract subject to variances due to
                              condemnation and storage trailer requirements. In
                              no event shall the parking ratio referred to
                              herein and the Common Areas be changed without the
                              consent of applicable governmental ordinances or
                              regulations subject to such variances as Wal-Mart
                              or Developer may obtain.

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 7 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                        (3)   Development Timing. Concurrent with any building
                              being constructed within the Building Areas of any
                              tract by the owner of said tract (the "Developing
                              Party"), the Common Areas of that tract shall be
                              developed in accordance with Exhibit A at the
                              expense of such Developing Party.

      b. Maintenance.

            (1)   Standards. Following completion of improvements (including
                  buildings and Common Areas) on any Tract or Outparcel. the
                  owner of such Tract or Outparcel shall maintain such
                  improvements in good condition and repair. The maintenance is
                  to include, without limitation, the following:

                  (a)   Maintaining the surfaces in a level, smooth and
                        evenly-covered condition with the type of surfacing
                        material originally installed or such substitute as
                        shall in all respects be equal in quality, use, and
                        durability;

                  (b)   Removing all papers, ice and snow, mud and sand, debris,
                        filth and refuse and thoroughly sweeping the area to the
                        extent reasonably necessary to keep the area in a clean
                        and orderly condition;

                  (c)   Placing, keeping in repair and replacing any necessary
                        appropriate directional signs, markers and lines;

                  (d)   Operating, keeping in repair and replacing, where
                        necessary, such artificial lighting facilities as shall
                        be reasonably required;

                  (e)   Maintaining all perimeter and exterior building walls
                        including but not limited to all retaining walls in a
                        good condition and state of repair;

                  (f)   Maintaining, mowing, weeding, trimming and watering all
                        landscaped areas and making such replacements of shrubs
                        and other landscaping as is necessary; and

                  (g)   Maintaining elements of the Storm Drainage System.

            (2)   Expenses. The respective owners shall pay the maintenance
                  expense of their Tracts.

            (3)   Bv Agent. Subject to the mutual agreement of the parties
                  hereto, a third party may be appointed as an agent of the
                  parties to maintain the Common Areas in the manner as above
                  outlined. Said third party may receive for such agency a fee
                  that is mutually acceptable to all parties to cover
                  supervision, management, accounting and similar fees, which
                  sums are to be included in the general maintenance expense
                  paid by the respective owners of the Common Areas.

      c.    Taxes. Each of the parties hereto agrees to pay or cause to be paid,
            prior to delinquency, directly to the appropriate taxing authorities
            all real property taxes and assessments which are

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 8 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

            levied against that part of the real property and improvements owned
            by it. Wal-Mart is not obligated to pay until the Commencement Dale
            of the Lease Term.

      7. Signs. No sign shall be located on the Common Areas on Tracts 1 and 2
except signs advertising businesses conducted thereon, of which, there shall be
no more than one monument sign on Outparcel 1, no more than one monument sign on
Outparcel 2, no more than one monument sign on Common Areas of Tract 1, no more
than one monument sign on Common Areas of Tract 2. and should Wal-Mart sublease
a portion of Tract 1, then there shall be no more than one monument sign on the
sublease tract. No signs shall obstruct the ingress and egress shown on Exhibit
A.

      8. Indemnification/Insurance.

            a. Indemnification. The owner of each Tract and each Outparcel
            hereby indemnifies and saves the other parties harmless from any and
            all liability, damage, expense, causes of action, suits, claims, or
            judgments arising from personal injury, death, or property damage
            and occurring on or from its own Tract or Outparcel except if caused
            by the act or negligence of the other party hereto. Notwithstanding
            the provisions hereof, there shall be no indemnity obligations on
            the part of Wal-Mart relative to Tract 1 until the Commencement Date
            of the Lease Term.

            b. Insurance.

                  (1)   The owner of each Tract shall procure and maintain in
                        full force and effect throughout the term of this-
                        Agreement general public liability insurance and
                        property damage insurance against claims for personal
                        injury, death or property damage occurring upon, in or
                        about its property, each party's insurance to afford
                        protection to the limit of not less than $5,000,000.00
                        for injury or death of a single person, and to the limit
                        of not less than $5,000,000.00 for any one occurrence,
                        and to the limit of not less than $5,000,000.00 for
                        property damage. The owner of each Tract shall provide
                        Wal-Mart and the owner of the other Tract with
                        certificates of such insurance from time to time upon
                        written request to evidence that such insurance is in
                        force. Such insurance may be written by additional
                        premises endorsement on any master policy of insurance
                        carried by the party which may cover other property in
                        addition to the property covered by this Agreement. Such
                        insurance shall provide that the same may not be
                        canceled without thirty (30) days prior written notice
                        to the other party. The obligations of the owner of
                        Tract 1 to maintain insurance under this provision may
                        be satisfied by Wal-Mart. Notwithstanding the provisions
                        hereof, Wal-Mart shall not be obligated to procure and
                        maintain the insurance required by this paragraph on
                        Tract 1 until the Commencement Date of the Lease Term.

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 9 OF 16)
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                  (2)   At all times during the term of this Agreement, the
                        owner of each Tract shall keep improvements on its
                        property insured against loss or damage by fire and
                        other perils and events as may be insured against under
                        the form of All-Risk insurance coverage in effect from
                        time to time in the state in which the parties'
                        respective properties are located, with such insurance
                        to be for the full replacement value of the insured
                        improvements. The obligations of the owner of Tract 1 to
                        maintain insurance under this provision may be satisfied
                        by Wal-Mart. The owner of a Tract shall pay for any
                        increase in the cost of insuring the improvements on the
                        other Tract if such increase is due to the use by such
                        owner or its tenant(s) of the first Tract.
                        Notwithstanding the provisions hereof, Wal-Mart shall
                        not be obligated to procure and maintain the insurance
                        required by this paragraph on Tract 1 until the
                        Commencement Date of the Lease Term.

                  (3)   Policies of insurance provided for in this Paragraph 8
                        relative to Tracts 1 and 2 shall name Wal-Mart and
                        Developer as Owner of each Tract as additional insured*
                        as their respective interests may appear, and each of
                        them shall provide to the other certificates evidencing
                        the fact that such insurance has been obtained.

                  (4)   Wal-Mart and the owner of each Tract and Outparcel, each
                        for itself and its property insurer, hereby releases the
                        others, and their tenants, employees and agents from and
                        against any and all claims, demands, liabilities or
                        obligations whatsoever for damage to each other's
                        property or loss of rents or profits resulting from or
                        in any way connected with any fire or other casualty
                        whether or not such fire or other casualty shall have
                        been caused by the negligence or the contributory
                        negligence of the party being released or by any tenant,
                        agent, associate or employee of the party being
                        released, this release being to the extent that such
                        damage or loss is covered by the property insurance
                        which the releasing party is obligated under this ECR to
                        carry, or, if the releasing party is not carrying that
                        insurance, then to the extent such damage or loss would
                        be covered if the releasing party were carrying that
                        insurance.

                  (5)   Notwithstanding anything to the contrary contained in
                        this Paragraph 8, so long as the net worth of Wal-Mart
                        shall exceed One Hundred Million Dollars
                        ($100,000,000.00), and so long as Wal-Mart is owner or
                        Lessee of Tract 1 and/or the owner of Tract 3, Wal-Mart
                        shall have the right to retain the financial risk for
                        any claim relative to such Tract or Tracts, as the case
                        may be.

      9. Eminent Domain.

            a.    Owner's Right To Award. Nothing herein shall be construed to
                  give the owner of any Tract or Outparcel any interest in any
                  award or payment made to another party in connection with

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 10 OF 16)
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                                                      Baton Rouge, LA
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                  any exercise of eminent domain or transfer in lieu thereof
                  affecting said other party's Tract or Outparcel or giving the
                  public or any government any rights in said Tract or
                  Outparcel. In the event of any exercise of eminent domain or
                  transfer in lieu thereof of any part of the Common Areas
                  located on Tracts I, 2 and/or 3, the award attributable to the
                  land and improvements of such portion of the Common Areas
                  shall be payable only to the owner thereof, and no claim
                  thereon shall be made by the owners of any other portion of
                  the Common Areas.

            b.    Collateral Claims. All other owners of Tracts or Outparcels
                  may file collateral claims with the condemning authority for
                  their losses which are separate and apart from the value of
                  the land area and improvements taken from another owner.

            c.    Tenant's Claim. Nothing in this Paragraph 9 shall prevent a
                  tenant from making a claim against an owner pursuant to the
                  provisions of any lease between tenant and owner for all or a
                  portion of any such award or payment.

            d.    Restoration Of Common Areas. The owner of any portion of the
                  Common Areas so condemned shall promptly repair and restore
                  the remaining portion of the Common Areas within its
                  respective Tract as nearly as practicable to the condition of
                  the same immediately prior to such condemnation or transfer,
                  to the extent that the proceeds of such award are sufficient
                  to pay the cost of such restoration and repair and without
                  contribution from any other owner.

      10. Rights And Obligations Of Lenders. If by virtue of any right or
obligation set forth herein a lien shall be placed upon any Tract or Outparcel,
such lien shall expressly be subordinate and inferior to the lien of any first
lienholder now or hereafter placed on such Tract or Outparcel. Except as set
forth in the preceding sentence, however, any holder of a first lien on any
Tract or Outparcel, and any assignee or successor in interest of such first
lienholder, shall be subject to the terms and conditions of this Agreement.

      11. Expansion Of Shopping Center. The parties agree that in the event the
Shopping Center is expanded by ownership and/or control of the parties or
agreement with a third party, all of the provisions of this Agreement shall
apply to the expanded area and the parking to the building ratio in the expanded
area shall not be less than that provided in Paragraph 6a(2). In addition, the
owner of Tract 2 will permit Wal-Mart to enter any building on Tract 2 which is
within sixty (60) feet of the nearest exterior wall of the building on Tract 1,
and will secure for Wal-Mart such permission from other tenants of such
building, if any, for such work, as may be necessary in connection with
alterations, improvements, or additions to the building on Tract 1.

      12. Release from Liability. Any person acquiring fee or leasehold title on
any Tract or Outparcel subject hereto, or any expansion of the Shopping Center
pursuant to Paragraph 11 or any portion thereof, shall be bound by this
Agreement only as to the Tract or Outparcel, or portion thereof, acquired by
such person. In addition, such person shall be bound by this Agreement only
during the period such person is the fee or leasehold owner of such Tract or
Outparcel, or portion thereof, except as lo obligations, liabilities or
responsibilities that accrue during said

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 11 OF 16)
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                                                      Store No. 5328-00

                  period. Although persons may be released under this paragraph,
                  the easements, covenants and restrictions in this Agreement
                  shall continue to be benefits to and servitudes upon said
                  Tracts running with the land.

                        Should Wal-Mart terminate the Lease Agreement and not
                  acquire a fee title interest in Tract 1, then all obligations
                  of Wal-Mart under this ECR relating to Tract 1 shall terminate
                  as well.

      13. BREACH.

            a.    Parties With Remedies. In the event of breach or threatened
                  breach of this Agreement, only all record owners of Tract 1 as
                  a group, or all record owners of Tract 2 as a group, or
                  Wal-Mart so long as it or any affiliate has an interest as
                  owner or lessee of Tract 1 or Developer so long as it or any
                  affiliate has an interest as owner or lessee of Tract 2, shall
                  be entitled to institute proceedings for full and adequate
                  relief from the consequences of said breach or threatened
                  breach. The unsuccessful party in any action shall pay to the
                  prevailing party a reasonable sum for attorney's fees, which
                  shall be deemed to have accrued on the date such action was
                  filed. Notwithstanding the foregoing, all of the record owners
                  of an Outparcel shall be entitled to take any action permitted
                  by this ECR with respect to the breach of Paragraphs 5(a),
                  5(c), 5(d), 8(a), 8(b)(4) and 9.

            b.    Remedies. If any owner shall fail to perform any covenant or
                  condition contained in this ECR, the aggrieved party shall
                  give the defaulting party at least thirty (30) days written
                  notice of such alleged default If such default shall not have
                  been cured within said period of thirty (30) days after the
                  service of notice of default (or if such default be not
                  reasonably susceptible of being cured within said period of
                  thirty (30) days, and said defaulting party- shall have not in
                  good faith commenced curing such default within said thirty
                  (30) day period and shall not thereafter prosecute curing such
                  default with diligence and continuity to completion) the
                  aggrieved party may institute legal proceedings for full and
                  adequate relief from the consequences of said default or
                  threatened default.

            c.    Right of Entry. The defaulting party hereby grants to the
                  aggrieved parry a non-exclusive right of entry and
                  non-exclusive easements across and under any and all parts of
                  the defaulting party's Tract or Outparcel (excluding the right
                  lo enter any buildings demised to or owned by others) for all
                  purposes reasonably necessary to enable the aggrieved party
                  (acting directly or through agents, contractors, or
                  subcontractors), to perform any of the terms, provisions,
                  covenants or conditions of this ECR which the defaulting party
                  shall have failed to perform, after notice and time to cure,
                  as aforesaid, but no notice and time to cure need be given in
                  the event of any emergency.

      14. Rights of Successors. The easements, restrictions, benefits and
obligations hereunder shall create mutual benefits and servitudes running with
the land. This Agreement shall bind and inure to the benefit of the parties
hereto, their respective heirs, representatives, lessees, successors and
assigns. The singular number includes

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 12 OF 16)
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                                                      Store No. 5328-00

the plural and the masculine gender includes the feminine and neuter.
Notwithstanding the forgoing, the owners of the Outparcel(s) shall have the
right to enforce, and shall have the benefit of, only Paragraphs 5(a), 5(c),
5(d), 8(a). 8(b)(4) and 9.

      15. DOCUMENT EXECUTION, MODIFICATION AND CANCELLATION. It is understood
and agreed that until this document is fully executed by both Developer and
Wal-Mart there is not and shall not be an agreement of any kind between the
parties hereto upon which any commitment, undertaking or obligation can be
founded. This Agreement (including exhibits) may be modified or canceled only by
the mutual agreement of (a) Wal-Mart as long as it or its affiliate has any
interest as either owner or Lessee of Tract 1, or its successors in interest;
(b) Developer, as long as it or its affiliate has any interest as either owner
or Lessor of Tract 2, or its successors in interest in Tracts 1 or 2 (only);
(c.) with respect to Paragraphs 5(a), 5(c), 5(d). 8(a), 8(b)(4), 9 and 13, the
owners of each Outparcel (to the extent such modification or cancellation
affects such Outparcel); and (d) with respect to Paragraph 4(e), the owner or
lessee of an Outparcel with respect to which a provision is modified or
terminated.

      16. NON-MERGER. So long as Wal-Mart or its affiliate is owner or lessee of
Tract 1, this Agreement shall not be subject to the doctrine of merger.

      17. DURATION. Unless otherwise canceled or terminated, all of the
easements granted in this Agreement shall continue in perpetuity and all other
rights and obligations hereof shall automatically terminate and be of no further
force and effect after ninety-nine (99) years from the date hereof.

      18. HEADINGS. The headings herein are inserted only as a matter of
convenience and for reference and in no way define, limit or describe the scope
or intent of this document nor in any way affect the terms and provisions
hereof.

      19. TRANSFER OF INTERESTS: NOTICES.

            a.    In the event that any person or entity (the "Acquiring Party")
                  shall acquire a fee or mortgage interest in any tract subject
                  to this ECR, or any portion thereof, the Acquiring Party shall
                  execute and file in the land records of East Baton Rouge
                  Parish. Louisiana, a statement setting forth the name of the
                  Acquiring Party, the address of the Acquiring Party to which
                  all notices for the purposes of this ECR may be sent, the
                  nature of the interest held by the Acquiring Party, and the
                  date that such interest was acquired (the "Notice Statement").
                  Contemporaneously with such filing, the Acquiring Parry shall
                  also send by certified mail, return receipt requested, a copy
                  of such Notice Statement to all other persons or entities then
                  holding fee or mortgage interests in any tract subject to this
                  ECR, or any portion thereof, as reflected by the Notice
                  Statements then of record in the land records of East Baton
                  Rouge Parish, Louisiana (the "Existing Interest Holders").
                  Until such time as an Acquiring Parry files and mails such
                  Notice Statement in accordance with the terms of this
                  Subparagraph (i), it shall not be entitled to receive any
                  notice required or permitted to be given under this
                  Declaration, and the Existing Interest Holders shall have no
                  obligation to give any such notice to the Acquiring Party. Any

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 13 OF 16)
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                  change of address shall require the Tiling and mailing of a
                  new Notice Statement. It is understood and agreed that the
                  provisions of this Paragraph 19 regarding the recordation of
                  the Notice Statement are satisfied with respect to Developer
                  and Wal-Mart.

            b.    Any notice hereunder shall be in writing and shall be served
                  by overnight delivery or certified mail, return receipt
                  requested, postage prepaid, addressed to the respective
                  addresses of the parties as follows: If intended for
                  Developer:

                         Fletcher Bright Company
                         537 Market Street, Suite 400
                         Chattanooga. TN 37402
                         Attention: Pat Davis
                         With a copy to:
                         Meyers Brothers Properties, LLC
                         300 W. Wieuca Road
                         Building 2, Suite 310
                         Atlanta, GA 30342

               If intended for Wal-Mart:

                         Wal-Mart Real Estate Business Trust
                         2001 SE 10th Street
                         Bentonville, Arkansas 72716-0550
                         Attention: Property Management
                         Department

            Each party to this ECR may designate by notice in writing a new or
            other address to which such notice shall thereafter be so given or
            served. A copy of any such notice shall also be contemporaneously
            delivered in the manner herein specified to any fee mortgagee or
            tenant who shall have duly registered with any party its name and
            address. Notice shall be deemed given when received.

      20. CONSENT. The owner of Tract 1 agrees that for so long as the Lease is
in effect, whenever the consent of the owner of Tract 1 is required under the
ECR the owner of Tract 1 will give such consent only after obtaining Wal-Mart's
consent.

      21. OBLIGATIONS OF THE OWNER OF TRACT 1. Wal-Mart hereby agrees that so
long as it is a lessee of Tract 1 it will satisfy the obligations of the Owner
of Tract 1 hereunder, and in connection with its status as Lessee will hold
harmless and indemnify the owner of Tract 1 from any and all loss, damage,
expense, fees, claims, costs, and liabilities, including, but not limited to
attorneys' fees and costs of litigation, arising out of this ECR, except for

                         EXHIBIT "C" TO LEASE ACREEMENT

                                 (PAGE 14 OF 16)
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those arising out or the acts or omissions of the owner of Tract 1 or it's
employees, agents, contractors or invitees. Should Wal-Mart become the owner of
Tract 1, Wal-Mart will satisfy its obligations as the Owner of Tract 1.

      22. Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto. The parties do not rely upon any statement, promise
or representation not herein expressed, and this Agreement once executed and
delivered shall not be modified or altered in any respect except by a writing
executed and delivered in the same manner as required by this document.

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 15 OF 16)
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                                                      Coursey Blvd. Project
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                                                      Store No. 5328-00

      IN WITNESS WHEREOF, the parties have executed this Agreement the day and
year first written above.

ATTEST
                                     WAL-MART REAL ESTATE BUSINESS TRUST
                                     a Delaware statutory trust

___________________________          ___________________________________________
Its Assistant Secretary              Barry Shannahan
                                     Assistant Vice President
(SEAL)
                                     "Wal-Mart"
ATTEST
                                     BRIGHT-MEYERS COURSEY ASSOCIATES L.P.
                                     BY: Bright-Meyers 2001 LLC, General Partner

___________________________          ___________________________________________

Its: ______________________          Its:_______________________________________
                                                     "Developer"

Exhibit A to ECR: Site Plan
Exhibit B to ECR: Legal Description of Tracts 1 and 2
Exhibit C to ECR: Legal Description of Outparcel 1 and Outparcel 2

                                                                         INITIAL
                                                                         _______

                         EXHIBIT "G" TO LEASE AGREEMENT

                                 (PAGE 16 OF 16)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                      WAL-MART REAL ESTATE BUSINESS TRUST
     PROPERTY MANAGEMENT DEPT #44-9384 - 2001 SE 10TH ST, - BENTONVILLE, AR
                                   72712-6489

May 23, 2003

Subject: Wal-Mart Store #

Gentlemen:

Wal-Mart Stores, Inc. and at, entered into a Lease Agreement for the above
referenced location on the day of, 19, which Lease Agreement was recorded in the
Land Deed Records of the Office of the County Clerk of County, . On October 31,
1996, Wal-Mart Stores, Inc. assigned its interest in the Lease to Wal-Mart Real
Estate Business Trust, (hereinafter "the Trust"), thus the Trust is the tenant
of, at.

We understand this letter and the information contained herein is a necessity in
your determination of whether or not will (a.) purchase certain real estate from
or (b.) make a certain real estate loan to said.

Except as noted herein below, the Trust certifies and affirms to the best of its
knowledge that:

      a.    The Lease been modified and is in full force and effect as written.

      b.    The Leased Premises at, have been accepted for possession by
            Wal-Mart on or about, 19.

      c.    The Lease Term began on and ends on excluding option periods, if
            any.

      d.    Monthly rental amounts under the lease agreement are: $.

      e.    The Trust has no charge, lien, claim or off-set under the Lease, or
            otherwise, against the monthly rental amounts owed,

      f.    No rentals required under the Lease have been paid for more than 30
            days in advance of their due date.

The Lease has been modified as follows:

1.

The following requirements, representations, conditions and obligations of
pursuant to the terms of the Lease as amended, been satisfied and complied with
to the satisfaction of the Trust:

      1.    Any lien or claim against the property which is of record:

            a.

      2.    Maintenance required to repair the following items:

            a.

The information provided and the representations made herein are intended only
for the use of . Other parties having information and knowledge to the contrary
should not rely on the representations made herein as a waiver of any rights,
warranties, or credits of the Trust.

The Trust requires written notification of any change of address, necessitated
by the above contemplated change of ownership. The representations made herein
are hereby made specifically contingent upon receipt by the Trust of a copy of
the document evidencing change of ownership, subordination agreement, or the
assignment of rents, along with a cover letter from the Lessor or previous
Lessor acknowledging the changes. The Trust will not be responsible for its
untimely payment of rent that results from the failure of the parties to follow
these procedures.

May 23, 2003

                                      Kimberly K. Saylors
                                      Director of Property
                                      Management
                                      Wal-Mart Stores, Inc.

                                                                         INITIAL
                                                                         _______

                         EXHIBIT "H" TO LEASE AGREEMENT

<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                       SUBORDINATION. NON-DISTURBANCE AND

                          ATTORNMENT AGREEMENT ("SNDA")

                 THIS AGREEMENT is made as of the _______ day of
______________, 20_____, between Wal-Mart Real Estate Business Trust, a Delaware
statutory trust, of 702 S.W. 8th Street, Bentonville; Arkansas 72716, with
notices sent to 2001 S.E. 10th Street, Bentonville, Arkansas 72712-6489 ("
Wal-Mart"), and, with offices at ("Mortgagee").

                                  WITNESSETH:

      WHEREAS, Mortgagee is the holder of a certain ___________________, dated
________________, in Official Records ("Mortgage"), covering the Shopping Center
and/or Wal-Mart store situated in the City of, County of, State of, (hereinafter
referred to as the "Premises"); and

      WHEREAS, Wal-Mart Stores, Inc. has leased from ("Lessor") square feet in
the Premises pursuant to that certain lease dated, 19 ("Lease"), between Lessor
and Wal-Mart Stores, Inc.("Lessee); and

      WHEREAS, Wal-Mart Stores, Inc. has assigned all of its rights and interest
to the Lease to Wal-Mart pursuant to an assignment dated October 31, 1996; and

      WHEREAS, Wal-Mart desires that the Lease shall not terminate, but rather
shall remain in full force and effect in accordance with its terms in the event
the Mortgage is foreclosed or any foreclosure sale of the mortgaged Premises is
made or any transfer therein in lieu of foreclosure is made and Mortgagee
desires that Wal-Mart subordinate its interest in the Lease to the Mortgage.

      WHEREAS, Lessor has delivered a copy of the Lease and any amendments to
Mortgagee, the receipt of which is hereby acknowledged,

      NOW, THEREFORE, in consideration of the Premises and other good and
valuable consideration in hand paid, the parties hereto agree as follows:

      1. Mortgagee hereby consents and approves the Lease, amendments and the
terms thereof, including the options to extend the term as set forth in the
Lease, and covenants and agrees that the exercise by Lessee of rights, remedies
and options therein contained shall not constitute a default under the Mortgage.

      2. The Lease is, and shall remain, subject and subordinate to the Mortgage
and to any extensions, modifications, consolidations or renewals thereof;
provided that as to any such extensions, modifications, consolidations or
renewals thereof, a non-disturbance agreement in the form of this agreement is
executed and delivered by the holder of the Mortgage as so extended, modified,
consolidated or renewed.

      3. So long as Wal-Mart is not in default in the performance of any terms,
covenants and conditions to be performed on its part under the Lease, then in
such event:

            (a) Wal-Mart shall not be joined as a party defendant in any
foreclosure proceeding which may be instituted by Mortgagee;

            (b) Wal-Mart's leasehold estate under the Lease shall not be
terminated, barred, cut off, or otherwise disturbed by reason of any default
under the Mortgage or any foreclosure proceeding instituted by Mortgagee.

      4. If Mortgagee shall succeed to the interest of Lessor in and to the
Lease, whether through possession, foreclosure proceeding, or delivery of a deed
in lieu of foreclosure, Wal-Mart shall attorn to and recognize Mortgagee or any
other purchaser at a foreclosure sale as Wal-Mart's landlord under the Lease,
and shall promptly execute and deliver an attornment agreement in the form of
this agreement to evidence such attornment. Upon and after such attornment, the
Lease shall continue in full force and effect as a direct lease between
Mortgagee or such purchaser and Wal-Mart upon all of the terms, conditions and
covenants as are set forth in the Lease, except that Mortgagee or such purchaser
shall after such attornment:

            (a) Be liable for any previous act or omission of any previous
landlord arising directly from such landlord's responsibilities and duties
pursuant to the Lease; provided, Mortgagee or such purchaser has received
appropriate notice of such default, and has an opportunity to cure (having no
obligation to so cure) same, all pursuant to the terms and conditions of the
Lease,

            (b) Be subject to any offset or counterclaim which Wal-Mart might be
entitled to assert against any previous landlord, including deductions from rent
arising pursuant to the Lease; provided, Mortgagee or such purchaser has
received appropriate notice of such default, and has an opportunity to cure
(having no obligation to so cure) same, all pursuant to the terms and conditions
of the Lease;

            (c) Not be bound by any previous prepayment of more than one month's
fixed rent, unless such prepayment shall have been expressly approved in writing
by Mortgagee;

            (d) Be bound by any modification of the Lease unless excepted in
subparagraph (e) below.

                         EXHIBIT "I" TO LEASE AGREEMENT

                                  (PAGE 1 OF 3)
<PAGE>

                                                      Coursey Blvd. Project
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                                                      Store No. 5328-00

Page 2

            (e) Not be bound by any modification of the Lease made after the
date of this agreement without its written consent which would (i) reduce fixed
annual rent, or (ii) materially reduce any other monetary obligation of Lessee
under the Lease.

      5. This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto, and their respective successors and assigns.

      6. At any time before the rights of the Lessor shall have been forfeited
or adversely affected because of any default on its part, or within the time
permitted the Lessor to cure any default under the Lease as there provided,
Mortgagee may, at its option, pay any taxes and assessments, make any repairs
and improvements, make any deposits or do any other act or thing required of the
Lessor by the terms of the Lease, and all payments so made and all things so
done and performed by Mortgagee shall be as effective to prevent the rights of
the Lessor from being forfeited or adversely affected because of any default
under this Lease as the same would have been if done and performed by the
Lessor.

      7. Any notices or communications given under this agreement shall be in
writing and shall be given by registered or certified mail, return receipt
requested, postage prepaid, (a) if to Mortgagee, at the address of Mortgagee as
hereinabove set forth or at such other address of Mortgagee as hereinabove set
forth or at such other address as Mortgagee may designate by notice, or (b) if
to Lessee, then to the attention of Property Management at the address of Lessee
as hereinabove set forth or at such other address as Lessee may designate by
notice. During the period of any postal strike or other interference with the
mail, personal delivery shall be substituted for registered or certified mail.
No default notice given by Lessee under the Lease shall be effective as against
Mortgagee unless a duplicate copy thereof has been given to Mortgagee.

      8. This agreement shall bind and inure to the benefit of and be binding
upon and enforceable by the parties hereto and their respective successors and
assigns.

      9. This agreement contains the entire agreement between the parties and
cannot be changed, modified, waived or canceled except by an agreement in
writing executed by the party against whom enforcement of such modification,
change, waiver or cancellation is sought.

      10. This agreement and the covenants herein contained are intended to run
with and bind all lands affected thereby.

      IN WITNESS WHEREOF, this agreement has been duly executed by the parties
hereto. Signed, sealed and delivered this ___day of __________ 20__ in the
presence of

                                     TENANT:
 ATTEST:                             WALMART REAL ESTATE
                                     BUSINESS TRUST
                                     a Delaware statutory trust

_______________________              BY:____________________________________
Assistant Secretary                   Kimberly K.Saylors
(SEAL)                                Director of Property Management
                                      Wal-Mart Real Estate Business Trust

Signed, sealed and delivered this ___day of __________ 20__ in the presence of:

ATTEST:                              LENDER:
___________________________          By______________________            INITIAL
__________________(Title)            __________________(Title)           _______

                         EXHIBIT "I" TO LEASE AGREEMENT

                                  (PAGE 2 OF 3)
<PAGE>

                                                      Coursey Blvd. Project
                                                      Baton Rouge, LA
                                                      Store No. 5328-00

                            CORPORATE ACKNOWLEDGMENT

 STATE OF ARKANSAS)
                 )SS
 COUNTY OF BENTON )

      Be it remembered that on this ____ day of ___________, 20__, before me a
notary public in and for the county and state aforesaid, came Kimberly K.
Saylors, Director of Property Management of Wal-Mart Real Estate Business Trust,
a Delaware business trust, who is personally known to me to be the person who
executed as such officer the within instrument of writing on behalf of such
trust, and such person duly acknowledged the execution of the same to be the act
and deed of said trust.

      In testimony whereof, I have hereunto set my hand and affixed my notary
seal the day and year last above written.

                                                ____________________________
                                                Notary Public

                                                           (SEAL)

My commission expires:  __________________________________

                            CORPORATE ACKNOWLEDGMENT

STATE OF___________)

                   )SS

COUNTY OF__________)

      Be it remembered that on this ______ day of _____________, 20__, before me
a notary public in and for the county and state aforesaid,
came____________________, _______________ of ______________________, a
corporation, who is personally known to me to be the person who executed as such
officer the within instrument of writing on behalf of such corporation, and such
person duly acknowledged the execution of the same to be the act and deed of
said corporation.

      In testimony whereof, I have hereunto set my hand and affixed my notary
seal the day and year last above written.

                                                ____________________________
                                                Notary Public

                                                           (SEAL)

My commission expires:  __________________________________

                         EXHIBIT "I" TO LEASE AGREEMENT

                                  (PAGE 3 OF 3)<PAGE>

                                                                   EXHIBIT 10.13

                                 LEASE AGREEMENT

      THIS LEASE AGREEMENT made on November 2, 1979, by and between Oxbridge
Square Limited Partnership, a Virginia Limited Partnership, (hereinafter called
"Landlord"), party of the first part, and

                           UKROP'S SUPERMARKETS, INC.

(hereinafter called "Tenant"), party of the second part.

                                   WITNESSETH:

      That in consideration of the rents and covenants herein set forth,
Landlord hereby leases to Tenant, and Tenant hereby rents from Landlord, the
premises containing approximately 32,742 square feet, as shown, outlined in red,
on a drawing identified by the parties as "Schedule A", a copy of which is
attached hereto and made a part hereof, and located in the shopping center known
as Oxbridge Square Shopping Center located and lying in the County of
Chesterfield, Virginia.

Premises and Improvements

      Section 1. There have been signed by the parties and identified as
"Schedule B", Outline Specifications describing the following:

      1.    Improvements to be provided and installed by Landlord at its
            expense.

      2.    Improvements to be provided and installed by Tenant at its expense.

      3.    Dollar allowances, if any, to be credited to Tenant by Landlord
            against the cost of improvements selected by Tenant and to be
            provided and installed by either Landlord or Tenant at Tenant's
            expense.

Common Facilities

      Section 2. In addition to the leased premises, Tenant shall have the right
of non-exclusive use, in common with others, of, (a) automobile parking areas,
driveways and footways, and of (b) such loading facilities and other facilities
as may be constructed and designated, from time to time, by Landlord, all to be
subject to the terms and conditions of this Lease Agreement, and to reasonable
rules and regulations for the use thereof as prescribed from time to time by
Landlord. Landlord shall have the right to make changes or revisions in the site
plan in accordance with recommendations of its architects and so as to provide
additional leasing area.

Title Subordination

      Section 3. Landlord hereby warrants that Landlord and no other person or
corporation has the right to lease the premises hereby demised. Tenant shall
have peaceful and quiet use and possession of the leased premises without
hindrance on the part of Landlord, and Landlord shall warrant and defend Tenant
in such peaceful and quiet use and possession against the claims of all persons
claiming by, through or under Landlord. Tenant's rights under this Lease
Agreement may, however, be subordinate to the operation and effect of any
mortgage, deed of trust or other security instrument now or hereafter placed
upon the Center, or any part or parts thereof, by Landlord; and Tenant hereby
agrees, upon request of Landlord, to execute subordination agreements to that
effect, provided the beneficiary under the deed of trust or mortgage agrees to
recognize the rights of the Tenant under this Lease in event of a foreclosure,
provided the Tenant is not in default.

Term

      Section 4. The term of this Lease shall commence on the earlier to occur
of (a) the first date on which the leased premises are ready for occupancy by
Tenant (as hereinafter defined), or (b) the opening by Tenant of its business in
the leased premises; and shall be for a period of twenty-five (25) years plus
the part of a month, if any, from the date of the commencement of the term to
the first day of the first full calendar month in the term. Each of the
parties hereto agrees, upon demand of the other, to execute a declaration in
recordable form expressing the commencement and termination dated of the term as
soon as the commencement date has

                                      - 1 -

<PAGE>

been determined. Tenant, at its option, may extend the term of this lease for
two (2) separate and additional periods of five (5) years each on the same terms
and conditions except that minimum rentals and percentage rentals payable under
Sections 7 and 8 of this Agreement shall be the same as those payable during
years 11 through 25, and by notice to the Landlord at least ninety (90) days
before the expiration of the term or option term then in effect.

Termination

      Section 5. This Lease and the tenancy hereby created shall cease and
determine at the end of the original term hereof, or any extension or renewal
thereof, without the necessity of any notice from either Landlord or Tenant to
terminate the same, and Tenant hereby waives notice to vacate the premises and
agrees that Landlord shall be entitled to the benefit of all provisions of law
respecting the summary recovery of possession of premises from a tenant holding
over to the same extent as if statutory notice had been given. For the period of
six (6) months prior to the expiration of the original term of this Lease or any
renewal or extension thereof, Landlord shall have the right to display on the
exterior of the premises, (but not in any window or doorway thereof) the
customary sign "For Rent", and during such period Landlord may show the premises
and all parts thereof to prospective tenants between the hours of 9:00 A.M. and
5:00 P.M. on any day except Sunday and except any legal holiday on which Tenant
shall not be open for business.

Improvements by Landlord

      Section 6. Prior to commencement of the term Landlord agrees to provide,
at its expense, improvements to the leased premises substantially in accordance
with the general description of the improvements to be provided by Landlord as
set forth in "Schedule B" hereto. The leased premises will be considered as
ready for occupancy by Tenant on the first date of which:

            (a) The Landlord shall have substantially completed all work to be
      per formed by it in accordance with "Schedule B", as evidenced by
      certificate of Landlord's architect to that, effect, or

            (b) Tenant shall have opened its business in the leased premises.

Rentals Payable

      Section 7. Tenant covenants and agrees to pay Landlord c/o Dumbarton
Properties, Incorporated, 7113 Staples Mill Road, P.0. Box 29881, Richmond,
Virginia 23229, or at such place as may be designated by the Landlord, at the
following rates:

            (a) A minimum rental at the rate of:

                  One hundred fifty-six thousand, four hundred twenty-five and
      no/100 ---------------------------------------------------- Dollars
      ($156,425.00) per annum during years one (1) through three (3),

                  One hundred seventy-seven thousand, two hundred eighty-one and
      no/100------------------------------------------------------ Dollars
      ($177,281.00) per annum during years four (4) through six (6),

                  Two hundred eight thousand, five hundred sixty-seven and
      no/100 ----------------------------------------------------------
      Dollars ($208,567.00) per annum during years seven (7) through ten (10),
      and

                  Two hundred twenty-five thousand, two hundred fifty-three and
      no/100 ----------------------------------------------------- Dollars
      ($225,253.00) per annum during years eleven (11) through twenty-five (25),
      plus

            (b) a percentage rental equal to one percent (1%) of gross annual
      sales, as hereinafter defined, in excess of:

                  Twelve million, five hundred fourteen thousand and no/100
      ---------------------------------------- Dollars ($12,514,000.00) during
      years one (1) through three(3),

                  Fourteen million, one hundred eighty-two thousand, four
      hundred eighty and no/100 ----------------------- Dollars ($14,182,480.00)
      during years four (4) through six (6), and

                  Sixteen million, six hundred eighty-five thousand, three
      hundred sixty and no/100 --------------------- Dollars ($16,685,360.00)
      during years seven (7) through ten (10), and

                  Eighteen million, twenty thousand, two hundred forty and
      no/100 ------------------------------------- Dollars ($18,020,240) during
      years eleven (11) through twenty-five (25).

                                      - 2 -

<PAGE>

Minimum Rentals

      Section 8. The minimum rental shall be payable without demand, in advance
on the first day of each full calendar month during the term, in equal monthly
installments of:

      Thirteen thousand, thirty-five and 42/100 ---------- Dollars ($13,035.42)
during years one (1) through three (3),

      Fourteen thousand, seven hundred seventy-three and 42/100 ----------------
--------------------------------- Dollars ($14,773.42) during years four (4)
through six (6),

      Seventeen thousand, three hundred eighty and 58/100 ----------------------
---------------------------------------- Dollars ($17,380.58) during years seven
(7) through ten (10), and

      Eighteen thousand, seven hundred seventy-one and 08/100 ------------------
-------------------------------------------- Dollars ($18,771.08) during years
eleven (11) through twenty-five (25),

the first such payment to include also any prorated minimum rental for the
period from the date of the commencement of the term to the first day of the
first full calendar month in the term.

Percentage Rentals

      Section 9. The percentage rental shall be determined and payable annually
on or before the twentieth day following the close of each full calendar year
period of the term, based on gross sales for such period. The first payment of
percentage rental due hereunder shall include a percentage of gross sales from
the date of the commencement of the term to the first day of the first full
calendar month in the term. As soon as practicable after the end of each rental
year, the percentage rental paid or payable for such rental year shall be
adjusted between Landlord and Tenant, each party hereby agreeing to make such
adjustment and to pay to the other, on demand, such amount as may be necessary
to effect adjustment to the agreed percentage rental.

"Rental Year" Defined

      Section 10. The first "rental year" shall commence on the first day of the
term and shall end at the close of the twelfth full calendar month of the term;
thereafter the rental year shall consist of periods of twelve full calendar
months or, at the end of the term, the portion of such twelve full calendar
months included in the term.

"Gross Sales" Defined

      Section 11. For the purpose of this Agreement, the term "gross sales"
shall mean the actual sales prices of all goods, wares, and merchandise sold,
and the actual charges for all services performed by Tenant or by any
sub-tenant, licensee or consessionaire, in, at or from the leased premises,
whether for cash, on credit, or otherwise, without reserve or deduction for
inability or failure to collect, including, but not limited to such sales and
services (i) where the orders therefor originate in, at or from the leased
premises, whether delivery or performance is made from the leased premises or
from some other place, (ii) pursuant to mail, telephone, telegraph or other
similar orders received at the leased premises, (iii) by means of mechanical and
other vending devices in the leased premises, (iv) as a result of transactions
originating in, at or from the leased premises, or (v) which Tenant or any
sub-tenant, licensee, or consessionaire, in the normal and customary course of
its business, would credit or attribute to its operation at the leased premises
or any part thereof.

      The following shall be excluded from gross sales, namely: (i) any exchange
of merchandise between stores of Tenant where such exchange is made solely for
the convenient operation of the Tenant's business and not for the purpose of
consummating a sale made in, at or from the leased premises, (ii) returns to
shippers or manufacturers, (iii) cash or credit refunds to customers on
transactions otherwise included in gross sales, (iv) sales of fixtures,
machinery and equipment after use thereof in the conduct of Tenant's business in
the leased premises, (v) amounts collected and paid out by Tenant for any sales,
excise or similar tax imposed by any duly constituted governmental authority,
and (vi) the amount of any discount on sales to employees.

                                      - 3 -

<PAGE>

Tenant's Records

      Section 12. For the purpose of permitting verification by Landlord of any
amounts due as rentals, Tenant will keep and preserve for at least two years, at
an office of the Tenant in Richmond, Virginia, original or duplicate books and
records which shall disclose all information required to determine gross sales,
as above defined, the disposition of cash receipts and entries of credit sales,
and such other information relating to or in support of the items comprising
gross sales as may be reasonably required by the Landlord. Landlord, its
employees and accountants shall have the right, during business hours, to
inspect such books and records and to make any examination or audit thereof
which Landlord may desire. If such audit shall disclose a liability for rent
three per centum (3%) or more in excess of the rentals theretofore paid by
Tenant for such period, Tenant shall promptly pay to Landlord the cost of said
audit in addition to the deficiency in rental, which deficiency shall be payable
in any event.

      Tenant further covenants and agrees (a) that not later than the twentieth
(20) day after the close of each calendar month of the term and any renewal
thereof, it will deliver to Landlord a written statement signed by Tenant or by
an authorized officer of Tenant, showing the gross sales, as above defined, made
in the preceding calendar month, and (b) that not later than the due date for
each payment of percentage rental during the term and any renewal thereof, it
will deliver to Landlord a written statement signed by Tenant or by an
authorized officer of Tenant, showing the gross sales, as above defined, made in
the preceding percentage rental period, and (c) that not later than sixty (60)
days after the close of each rental year, and after the termination of the lease
or any renewal thereof, it will deliver to Landlord a certificate of an
independent certified public accountant showing the amount of gross sales,
specifically stated to be as above defined, of the preceding rental year.

Additional Rental

      Section 13. Tenant will promptly pay all rentals herein prescribed when
and as the same shall become due and payable. If Landlord shall pay any moneys,
or incur any expenses in correction of violation of covenants herein set forth,
the amounts so paid or incurred shall, at Landlord's option, and on notice to
Tenant, be considered additional rentals payable by Tenant with the first
installment of rental thereafter to become due and payable, and may be collected
or enforced as by law provided in respect of rentals.

Payments at office of Landlord's Agent

      Section 14. All rentals payable and all statements deliverable by Tenant
to Landlord under this Agreement shall be paid and delivered to Dumbarton
Properties, Incorporated, Agents for the Landlord, at the office of said Agent,
7113 Staples Mill Road, P.0. Box 29881, Richmond, Virginia 23229, or to such
other party or address as Landlord may direct by written notice.

Real Estate Taxes

      Section 15. The Landlord will pay annually all real property taxes which
may be levied or assessed by any lawful authority against the land and
improvements in the Shopping Center. The Tenant shall pay to Landlord as a
reimbursement, that portion of such real property taxes equal to the product
obtained by multiplying such taxes by a fraction, the numerator of which shall
be the gross floor area of the demised premises, and the denominator of which
shall be the total gross floor area of the Shopping Center, exclusive of common
areas. The additional rent provided for in this Section 15 shall be paid within
twenty (20) days after demand therefor by the Landlord. A tax bill submitted by
the Landlord to the Tenant shall be sufficient evidence of the amount of taxes
assessed or levied against the parcel or real property to which such bill
related. Proper proration shall be made as to commencement and termination dates
of this Lease.

Not a Joint Venture

      Section 16. Any intention to create a joint venture or partnership
relation between the parties hereto is hereby expressly disclaimed, it being
understood and agreed that the provisions of this Agreement in regard to the
payment by Tenant and the acceptance by Landlord of a percentage of the gross
sales of Tenant and others is a reservation of rent for the use of the leased
premises.

                                      - 4 -

<PAGE>

Security Deposit

      Section 17. None.

Landlord's Improvements

      Section 18. Landlord will as promptly as practicable, let contracts for
construction of a building or buildings in the Center providing a gross area of
not less than 113,000 square feet, including all work which Landlord has agreed
to do in, on and about the leased premises as specified in "Schedule B" hereto.
All Landlord's work, as herein provided, shall be done at the sole cost and
expense of Landlord. Although Landlord reserves the right to make additions to,
subtractions from, or rearrangements of the building areas indicated on
"Schedule A", it is distinctly understood that any such changes or
rearrangements shall not reduce the total gross building area below that
required by this Section 18. The above 113,000 square feet of construction in
the Center will be erected and available for occupancy within twelve (12) months
after Tenant's occupancy of the space herein leased.

Driveway and Parking Areas

      Section 19. Landlord's work as defined in "Schedule B" includes the
construction at Landlord's expense of hard surface parking areas with adequate
drainage and lighting facilities, including footways and necessary access roads
within the Center. Landlord agrees that there will be provided during the term,
as a part of the Landlord's work, parking spaces for not less than approximately
550 passenger automobiles.

Tenant's Improvements

      Section 20. On or before the commencement of the term, Tenant will
substantially complete all fixturing and other work which Tenant has agreed to
do in, on and about the leased premises as specified in "Schedule B" hereto.
Tenant shall obtain the prior written approval of Landlord's architect to all
plans and specifications for work which will affect the exterior appearance of
the leased premises or any structural, mechanical or electrical component of the
building in which the leased premises are located. All Tenant's work, as herein
provided, shall be done at the sole cost and expense of Tenant, subject to
allowances, if any, to be provided by Landlord to Tenant under "Schedule B".

Unavoidable Delays

      Section 21. The obligations of the Landlord and of Tenant, respectively,
under Sections 18, 19, and 20 hereof, are subject to unavoidable delays due to
labor disputes, acts of God or the public enemy, governmental regulations or
controls, fire or other casualties or other conditions or causes beyond the
reasonable control of the parties.

Store Fixtures

      Section 22. All trade fixtures and apparatus installed by Tenant in the
leased premises except such as may be the property of Landlord as a result of
Landlord having provided Tenant with allowances under "Schedule B" for the
installation of any such fixtures or apparatus, shall remain the property of the
Tenant and shall be removable from time to time and also at the expiration of
the term of this lease or any renewal or extension thereof, or other termination
thereof, provided Tenant shall not at such times be in default under any
covenant or agreement contained in this Agreement and shall repair any damage to
leased premises caused by such removal; otherwise Landlord shall have a lien on
said fixtures or apparatus as security against loss and damage resulting from
defaults by Tenant.

Use of Premises

      Section 23. The leased premises shall be used by Tenant solely for the
purpose of conducting therein the business of a grocery store.

Prompt Occupancy and Use

      Section 24. (a) Tenant will occupy the leased premises promptly upon
commencement of the term, and thereafter will continuously conduct in the leased
premises the business as above stated. Tenant will not use, or permit or suffer
the use of, the leased premises for any other business or for residential
purposes, and will conduct business on the premises only in its own name unless
and until the use of some other name is approved in writing by Landlord.

                  (b) Tenant will cause said business to be conducted and
operated in good faith and such manner as shall assure the transaction of a
maximum volume of business in and at the leased premises, and Tenant shall cause
its store to remain open until at least 9 o'clock P.M. six days each week. This
obligation of Tenant to cause its store to remain open until at least 9 o'clock
P.M. six days each week may be reduced so that Tenant will be

                                      - 5 -

<PAGE>

Operation by Tenant

      Section 25. Tenant will keep the inside and outside of all glass in the
doors and windows of the leased premises clean; will keep all exterior surfaces
clean; will replace promptly at its own expense with glass of like kind and
quality any plate glass or window glass of the leased premises which may become
cracked or broken, unless by fire; will maintain the premises at its own expense
in a clean, orderly and sanitary condition and free of insects, rodents, vermin
and other pests; will not permit undue accumulations of garbage, trash, rubbish
and other refuse, but will remove the same at its own expense; will not use or
permit the use of any apparatus or musical instruments for sound reproduction or
transmission in such manner that the sounds so reproduced, transmitted or
produced shall be audible beyond the interior of the leased premises; will keep
all mechanical apparatus free of vibration and noise which may be transmitted
beyond the confines of the premises; will not cause or permit objectionable
odors to emanate or be dispelled from the premises; will comply with all laws
and ordinances and all valid rules and regulations of governmental authorities,
and all recommendations of the Virginia Fire Insurance Rating Bureau, with
respect to the use of occupancy of the premises by Tenant; will not receive or
ship articles of any kind except through the facilities provided for that
purpose by Landlord; will light the show windows of the premises and exterior
signs each night of the year to the extent which shall be required by the
Landlord until 10 o'clock P.M.; and will conduct its business in the premises in
all respects in a dignified manner and in accordance with high standards of
store operation.

Exterior Repairs

      Section 26. Landlord will keep the exterior of the premises, except any
doors, windows and glass, in repair, provided that Tenant shall give Landlord
written notice of the necessity for such repairs, and provided that the damage
thereto shall not have been caused by negligence of Tenant, in which event
Tenant shall be responsible therefor, Landlord shall be under no liability for
repair, maintenance, alteration or any other action with reference to the leased
premises or any part thereof, or any plumbing, heating, electrical, air
conditioning or other mechanical installation therein, except as may be
expressly set out in this Agreement. Landlord agrees to repaint any exterior
painted surfaces at least every three years.

Interior Repairs

      Section 27. Tenant will keep the interior of the premises, together with
all electrical, plumbing, and other mechanical installations therein in good
order and repair at its own expense; and will surrender the leased premises at
the expiration of the term or at such other time as it may vacate the premises
in as good condition as when received, excepting depreciation caused by ordinary
wear and tear and damage by fire, unavoidable accident or act of God. Tenant
will not overload the electrical wiring serving the premises or within the
premises, and will install at its own expense, but only after obtaining
Landlord's written approval, any additional electrical wiring which may be
required in connection with Tenant's apparatus. It is understood and agreed in
the last five (5) years of this Lease or any renewal thereof, Landlord agrees
that should the heating or air conditioning equipment be certified by an
engineer to be impractical to repair, the Landlord will then replace such
equipment at Landlord's expense.

Damage to Premises

      Section 28. Tenant will repair promptly at its own expense any damage to
the leased premises caused by bringing into the premises any property for
Tenant's use, or by the installation or removal of such property, regardless of
fault or by whom such damage shall be caused, unless caused by Landlord, its
agents, employees, or contractors; and in default of such repairs by Tenant,
Landlord may make the same and Tenant agrees to pay the cost thereof to Landlord
promptly upon Landlord's demand therefor.

Alterations by Tenant

      Section 29. Tenant will not alter the store front of the leased premises
by and will not make any structural alteration to the premises or any part
thereof without first obtaining Landlord's written approval of such alteration;
and Tenant agrees that any improvements made by it shall immediately become the
property of the Landlord and shall remain upon the premises in the absence of
agreement to the contrary. Tenant further will not, except for the installation
of fixtures and other work to be performed by it under "Schedule B" hereof, cut
or drill into or secure any fixture, apparatus or equipment of any kind to any
part of the premises without first obtaining Landlord's written consent.

                                      - 6 -

<PAGE>

Signs and Advertising

      Section 30. Tenant will not place or suffer to be placed or maintained on
the exterior of the premises any sign, advertising matter or other thing of any
kind, and will not place or maintain any decoration, lettering or advertising
matter on the glass of any window or door of the leased premises without first
obtaining Landlord's written approval thereof; and Tenant further agrees to
maintain such sign, decoration, lettering, advertising matter or other thing as
may be approved in good condition and repair at all times. It is understood and
agreed that Tenant may place on the exterior of the premises a sign using the
word "UKROPS" similar in design to the present Ukrops sign on the Ukrop's store
at Bermuda Square and Dumbarton Square, letters on said sign to be not over 48
inches in height unless permission is given by the Landlord, and located on the
building in a place to be determined by the Tenant.

Painting and Decorating

      Section 31. Tenant will not paint or decorate any part of the exterior of
the leased premises, or any part of the interior of the premises which shall be
visible from the exterior thereof, without first obtaining Landlord's written
approval of such painting or decoration.

Displays by Tenant

      Section 32. Tenant will install and maintain at all times, subject to the
other provisions of this paragraph, displays of merchandise in the show windows
(if any) of the leased premises; and Tenant further agrees that all articles and
the arrangement, style, color and general appearance thereof, in the interior of
the premises which shall be visible from the exterior thereof, including, but
not limited to, window displays, advertising matter, signs, merchandise and
store fixtures, shall be maintained in the premises subject to the approval of
the Landlord with respect to whether the same are in keeping with the character
and standards of the Center.

Roof and Walls

      Section 33. Landlord shall have the exclusive right to use all or any part
of the roof of the premises for any purpose; to erect additional stories or
other structures over all or any part of the leased premises; and to erect in
connection with the construction thereof temporary scaffolds and other aids to
construction on the exterior of the premises, provided that access to the
premises shall not be denied. Tenant further agrees that Landlord may take any
use it desires of the side or rear walls of the premises, provided that there
shall be no encroachment upon the interior of the leased premises.

Common Facilities

      Section 34. Landlord grants to Tenant during the term the right of non
exclusive use, in common with others, of all automobile parking areas within the
Center for the accommodation and parking of passenger automobiles of Tenant's
customers.

      All parking areas, access roads and facilities which may be furnished by
Landlord in or near the Center, including employee parking areas, the truck way
or ways, loading docks, package pick-up stations, pedestrian sidewalks, malls,
courts, and ramps, landscaped areas, retaining walls, first-aid station, comfort
stations, lighting facilities, auditorium, public telephone facilities and other
areas and improvements which may be provided by Landlord for the general use, in
common, of tenants, their officers, agents, employees, and customers, shall at
all times be subject to the exclusive control and management of Landlord, and
Landlord shall have the right from time to time to establish, modify and enforce
reasonable rules and regulations with respect to all facilities and areas
mentioned in this section. Landlord shall construct, maintain and operate
lighting facilities on all said areas and improvements and shall have the right
to police the same. Landlord shall have the right from time to time to change
the area, location and arrangement of parking areas and other facilities
referred to in this Section 34, to change truck routes to such extent as the
Landlord may desire, provided that the leased premises are adequately served by
the new route; to restrict parking by tenants, their officers, agents and
employees to employee parking areas; to construct surface or elevated parking
areas and facilities; to establish and from time to time change the level of
parking surfaces; to close all or any portion of said areas or facilities to
such extent as may, in the opinion of the Landlord's counsel, be legally
sufficient to prevent a dedication thereof of the accrual of any rights to any
person or to the public therein; to close temporarily all or any portion of the
parking areas or facilities; to discourage non-customer parking; and to do and
perform such other acts in and to said areas and improvements as, in the use of
good business judgment, the

                                      - 7 -

<PAGE>

Landlord shall determine to be advisable with a view to the improvement of the
convenience and use thereof by tenants, their officers, agents, employees and
customers. Tenant agrees that it will cause its officers, agents and employees
to park their automobiles only in such areas as Landlord may from time to time
designate as employee parking areas.

      Tenant and its employees shall not park cars in parking space provided for
customers on property of which demised premises are a part or in alleys or
service courts serving buildings or stores except in areas which may be
designated by Landlord for tenant parking. Where there is a rear entrance, all
loading and unloading of goods shall be made at the rear entrance. Tenant agrees
that upon written notice 'from Landlord it will, within five days, furnish
Landlord with the state automobile license numbers assigned to its cars and the
cars of all its employees. If Tenant or its employees shall park their cars in
space provided for customer parking, Tenant shall pay additional rent to the
Landlord at the rate of $10.00 per day per car.

      It is understood that the Landlord proposes to construct the Center in
various stages and some of the common facilities outlined above will not be
constructed until the later stage, and further, that construction of later
stages may necessitate the rearrangement and alteration of some or all of the
facilities referred to in this Section 34. Landlord, therefore, reserves the
right in its sole discretion from time to time to change, rearrange, alter or
modify any or all of the facilities designed for the common use and convenience
of all tenants so long as adequate facilities in common are made available to
the Tenant herein.

Expense of Common Facilities

      Section 35. Landlord will, at its expense (subject to the reimbursement
provisions hereinafter set forth), operate and maintain the common facilities
referred to in Section 34. In each rental year Tenant will pay to Landlord such
proportion of Landlord's operating costs as the gross floor area of the premises
leased hereby bears to the total gross floor area of all stores in the Center.

      For the purpose of this Section 35, the "Landlord's Outside Operating
Costs" in connection with the common facilities outside of the shopping center
buildings shall be those of operating and maintaining the common facilities in a
manner deemed reasonable and appropriate and for the best interests of the
tenants in the Center, including without limitation, all costs and expense of
operating, repairing, lighting, cleaning, painting, striping, insuring, removing
of snow, ice, debris, maintaining landscaped areas, policing and inspecting.

      The charges to Tenant under this Section 35 shall be computed on a basis
of twelve (12) consecutive calendar months commencing and ending on such dates
as may be designated by Landlord and shall be paid by Tenant in monthly
installments on the first day of each calendar month in an amount estimated and
billed by Landlord. Initially, the monthly payments shall be $682.13.

Merchants Association

      Section 36. Not applicable.

Public Liability Insurance

      Section 37. Tenant will keep in force at its own expense so long as this
Lease remains in effect, public liability insurance with respect to the leased
premises in companies and in form acceptable to Landlord, covering Tenant,
Landlord, and Landlord's agents, with minimum limits of Five hundred thousand
dollars ($500,000.00) on account of bodily injuries to or death of one person,
One million dollars ($1,000,000.00) on account of bodily injuries to or death of
more than one person as the result of any one accident or disaster; and property
damage insurance with minimum limits of One hundred thousand dollars
($100,000.00); and Tenant will further deposit the policy or policies of such
insurance or certificates thereof, with Landlord. If Tenant shall not comply
with its covenants made in this Section 37, Landlord may, at its option, cause
insurance as aforesaid to be issued, and in such event Tenant agrees to pay the
premium for such insurance promptly upon Landlord's demand.

Indemnity by Tenant

      Section 38. Tenant will indemnify Landlord and Landlord's agents and save
them harmless from and against any and all claims, actions, damages, liability
and expense in connection with loss of life, personal injury and/or damage to
property arising from or out of the occupancy or use by Tenant of the leased
premises or any part thereof or any other part of the Landlord's property, or
occasioned wholly or in part by any act or omission of Tenant, its agents,
contractors, or employees.

                                      - 8 -

<PAGE>

Fire Insurance

      Section 39. Tenant will not do or suffer to be done, or keep or suffer to
be kept, anything in, upon or about the leased premises which will contravene
Landlord's policies insuring against loss or damage by fire or other hazards
(including, but not limited to, public liability) or which will prevent Landlord
from procuring such policies in companies acceptable to Landlord provided Tenant
is first given adequate notice of the requirements of such policies. If anything
done, omitted to be done or suffered to be. done by Tenant, or kept or suffered
by Tenant to be kept, in, upon or about the premises shall cause the rate of
fire or other insurance on the leased premises or other property of the Landlord
in companies acceptable to Landlord to be increased beyond the minimum rate from
time to time applicable to the premises for use for the purposes permitted under
this Agreement or to such other property for the use or uses made thereof,
Tenant will pay the amount of such increase promptly upon Landlord's demand.
Neither Landlord nor anyone claiming under it shall have any right of
subrogation against Tenant in event of a fire, explosion or other casualty,
provided Landlord can obtain fire and extended insurance eliminating all
subrogation rights without increase of premium to Landlord. If such insurance
can be obtained only with an increase of premium, Landlord will communicate this
information to Tenant and Tenant will have the option of paying the additional
premium or not, in order to eliminate subrogation rights.

      The Landlord will pay annually all insurance premiums for his policies
insuring against loss or damage by fire and other hazards, including but not
limited to public liability, on the buildings and common areas. The Tenant shall
pay to Landlord, as a pro rata share reimbursement, that portion of such
insurance premiums equal to the product obtained by multiplying such premiums by
a fraction, the numerator of which shall be the gross floor area of the demised
premises and the denominator of which shall be the total gross floor area of the
Shopping Center included in said policies. The additional rent provided for in
this paragraph 38 shall be paid within 20 days after demand therefor by
Landlord. Landlord's records relating to said insurance premium increases shall
be made available at Landlord's office upon Tenant's request for verification,
within 20 days after Landlord has advised Tenant of said increased premiums.

Fire or Other Casualty

      Section 40. If the leased premises shall be damaged by fire, the elements,
unavoidable accident or other casualty, but are not thereby rendered
untenantable in whole or in part, Landlord shall promptly at its own expense
cause such damage to be repaired, and the rent shall not be abated; if by reason
of such occurrence, the premises shall be rendered untenantable only in part,
Landlord shall promptly at its own expense cause the damage to be repaired, and
the minimum rent meanwhile shall be abated proportionately as to the portion of
the premises rendered untenantable; if by reason of such occurrence the premises
shall be rendered wholly untenantable, Landlord shall promptly at its own
expense cause such damage to be repaired, and the minimum annual rent meanwhile
shall be abated in whole, unless within sixty (60) days after said occurrence
Landlord shall give Tenant written notice that it has elected not to reconstruct
the destroyed premises, in which event this Lease and the tenancy hereby created
shall cease as of the date of said occurrence, the minimum rental and the
percentage rental to be adjusted as of such date. Landlord's election not to
reconstruct the destroyed premises, shall not be exercised within the first ten
(10) years of this Lease, and Landlord covenants that should the leased premises
be damaged by fire or any other casualty so as to render them untenantable
during the first ten (10) years of this Lease, he will repair or reconstruct
said premises, said repairs to be completed within six months from the date of
said fire or casualty.

Condemnation

      Section 41. If the whole or any part of the leased premises shall be taken
under the power of eminent domain, then this Lease shall terminate as to the
part so taken on the day when Tenant is required to yield possession thereof,
and Landlord shall make such repairs and alterations as may be necessary in
order to restore the part not taken to useful condition; and the minimum rental
shall be reduced proportionately as to the portion of the leased premises so
taken. If the amount of the leased premises so taken is such as to impair
substantially the usefulness of the leased premises for the purposes for which
the same are hereby leased, then either party shall have the option to terminate
this Lease as of the date when Tenant is required to yield possession. All
compensation awarded for such taking of the fee and the leasehold shall belong
to and be the property of the Landlord; provided,

                                      - 9 -

<PAGE>

however, that the Landlord shall not be entitled to any portion of the award
made to the Tenant for loss of business and for the cost of removal of stock and
fixtures.

Inspections by Landlord

      Section 42. Tenant will permit Landlord, its agents, employees, and
contractors to enter the leased premises and all parts thereof during business
hours to inspect the same and to enforce or carry out any provision of this
Agreement.

Short Lease Recording

      Section 43. Landlord agrees that at Tenant's request, it will execute,
acknowledge and deliver a short form of lease to the end that the same may be
recorded among the Land Records of  , Recording and probating charges or any
other costs in connection therewith shall be paid by Tenant.

No Assignments or Subletting

      Section 44. Tenant will not assign this Lease in whole or in part, nor
sublet all or part of the premises, nor license concessions or leased
departments therein, without the written consent of Landlord first obtained.
Consent by Landlord to any assignment or subletting shall not constitute a
waiver of the necessity for such consent to any subsequent assignment or
subletting. This prohibition against assigning or subletting shall be construed
to include a prohibition against any assignment or subletting by operation of
law, or any assignment or subletting to a parent or subsidiary corporation of
the Tenant.

Bankruptcy, Etc. of Tenant

      Section 45. If any sale of Tenant's interest in the premises created by
this Agreement shall be made under execution or similar legal process, or if
Tenant shall be adjudicated a bankrupt or insolvent, and such adjudication is
not vacated within thirty (30) days, or if a receiver or trustee shall be
appointed for its business or property, and such appointment shall not be
vacated within thirty (30) days, or if a corporate reorganization of the Tenant
or an arrangement with its creditors shall be approved by a court under the
Federal Bankruptcy Act, or if Tenant shall make an assignment for the benefit of
creditors, or if in any other manner Tenant's interest under this Agreement
shall pass to another by operation of law, then, in any of said events, Tenant
shall be deemed to have breached a material covenant of this Lease and Landlord
may, at its option, re-enter the premises and declare this Lease and the tenancy
hereby created terminated, but notwithstanding such termination Tenant shall
remain liable for all rent or damages which may be due at the time of such
termination and, further, shall be liable for the liquidated damages set forth
in paragraph B of Section 47 of this Lease.

Performance by Tenant

      Section 46. Tenant covenants and agrees that it will perform all
agreements herein expressed on its part to be performed, and that it will
promptly upon receipt of written notice specifying action desired by Landlord in
connection with any such covenant commence to comply with such notice; and
further, that if Tenant shall not commence and proceed diligently to comply with
such notice to the satisfaction of Landlord within fifteen (15) days after
delivery thereof, then Landlord may, at its option enter upon the premises and
do the things specified in said notice, and Landlord shall have no liability to
Tenant for any loss or damage resulting in any way from such action by Landlord,
and Tenant agrees to pay promptly upon demand any expense incurred by Landlord
in taking such action.

Remedies of Landlord

      Section 47. A. If Tenant shall violate any covenant including the covenant
to pay rent, made by it in this Agreement and shall fail to comply or commence
compliance with said covenant within fifteen (15) days after being sent written
notice of such violation by Landlord, Landlord may, at its option, reenter the
premises and declare this Lease and the tenancy hereby created terminated; and
Landlord, shall be entitled to all the provisions of the laws of the State of
Virginia respecting summary ejectment and the recovery of lands and tenements
held over by Tenant.

                  B. Tenant further agrees that notwithstanding reentry and
termination pursuant to Section 45 or Paragraph A of this Section 47 of this
Lease, Tenant shall remain liable for any rent or damages which may be due or
sustained prior thereto, all reasonable costs, professional fees and expenses
incurred by Landlord in leasing the premises to another tenant, and Tenant shall
further be liable for a sum of money, as liquidated damages and not as penalty,
to be calculated in the following manner: Tenant shall pay an amount of money
equal to the total rent which but for such termination

                                     - 10 -

<PAGE>

would have become payable during the unexpired portion of the term remaining at
the time of such termination, less the amount of rent, if any, which Landlord
may receive during such period from others to whom the premises may be rented on
such terms and conditions and at such rentals as Landlord, in its sole
discretion, shall deem proper. If such termination shall take place after the
expiration of two or more rental years of this Lease, then the percentage rental
payable (pursuant to Sections 7 and 11), if any, in each rental year after such
termination shall be conclusively presumed to be equal to the average percentage
rental payable during such expired lease, then the percentage rental payable
(pursuant to Sections 7 and 11), if any, in each rental year after such
termination shall be conclusively presumed to be equal to twelve (12) times the
average monthly payment of percentage rental which would have been paid prior to
such termination had Section 9 of this Lease required monthly payments of
percentage rental, based upon gross sales during each such month. Such
liquidated damages shall be payable in monthly installments, in advance, on the
first day of each calendar month following such termination, and continuing
until the date originally fixed herein for the expiration of the then current
term of this Lease and any suit or action brought to collect the amount of any
deficiency for any month shall not in any manner prejudice the right of Landlord
to collect any deficiency for any subsequent month by a similar proceeding.
Within one month after the date originally fixed herein for the expiration of
the then current term of this Lease, Landlord shall give a written statement to
Tenant showing all sums received by Landlord by way of liquidated damages and
all sums received from others to whom the premises may have been rented. In the
event it appears that Tenant has paid a greater sum of money than is due, as
determined by the terms of this Paragraph B of this Section 47, then, and in
such event, Landlord will promptly refund to Tenant any such excess.

Remedies Cumulative

      Section 48. No mention in this Lease of any specific right or remedy shall
preclude Landlord from exercising any other right or from having any other
remedy or from maintaining any action to which it may otherwise be entitled
either at law or in equity; and the failure of Landlord to insist in any one or
more instances upon a strict performance of any covenant of this Agreement or to
exercise any option or right herein contained shall not be construed as a waiver
or relinquishment for the future of such covenant, right, or option, but the
same shall remain in full force and effect unless the contrary is expressed in
writing by Landlord.

Water, Gas and Electricity

      Section 49. The Tenant covenants that it will promptly pay all utility
bills, including but not limited to, water (which may include sewer charge), gas
and electricity as the same shall become due. If Landlord shall pay any monies
or incur any expenses in correction of violation of Tenant's covenants herein
set forth, the amounts so paid or incurred shall, at Landlord's option, and on
notice to Tenant, be considered additional rentals payable by Tenant with the
first installment of rental thereafter to become due and payable and may be
collected or enforced as by law provided in respect of rentals.

Successor and Assigns

      Section 50. This Agreement and the covenants and conditions herein
contained, shall enure to the benefit of and be binding upon Landlord, its
successors and assigns, and shall be binding upon Tenant, its successors and
assigns, and shall enure to the benefit of Tenant and only such assigns of
Tenant to whom the assignment by Tenant has been consented to by Landlord.

Heating, Ventilatint and Air Conditioning

      Section 51. Landlord will provide and install within the leased premises
such equipment as will assure adequate heating, ventilating and air conditioning
for the leased premises.

      Tenant, at its sole cost and expense, shall operate, maintain and repair
the heating, ventilating and air conditioning equipment hereinabove referred to,
including the making of all necessary replacements thereto throughout the term
of this Lease and any renewal thereof. Tenant shall pay for all fuel, water, gas
and electricity consumed in such operation.

                                     - 11 -

<PAGE>

Notices

      Section 52. All notices from Tenant to Landlord required or permitted by
any provision of this Agreement shall be directed to Landlord c/o Dumbarton
Properties, Incorporated, P. O. Box 29881, 7113 Staples Mill Road, Richmond,
Virginia 23229. All notices from Landlord to Tenant so required or permitted
shall be directed as follows, namely:

                  Mr. James E. Ukrop, President
                  Ukrop's Supermarkets, Inc.
                  4715 Walmsley Boulevard
                  Richmond, Virginia 23234

      Either party may, at any time or from time to time, designate in writing a
substitute address for that above set forth, and thereafter notices shall be
directed to such substitute address.

Virginia Law

      Section 53. This Lease Agreement shall be construed under the laws of the
State of Virginia.

Captions and Headings

      Section 54. The captions and headings throughout this Lease are for
convenience and reference only and the words contained therein shall in no way
be held or deemed to define, limit, describe, explain, modify, amplify or add to
the interpretation, construction or meaning of any provision of or the scope or
intent of this Lease nor in any way affect this Lease.

Joint and Several Liability

      Section 55. In the event that two or more individuals, corporations,
partnerships or other business associations (or any combination of two or more
thereof) shall sign this Lease Agreement as Tenant, the liability of each such
individual, corporation, partnership, or other business association to pay rent
and perform all other obligations hereunder shall be deemed to be joint and
several. In like manner, in the event that the Tenant named in this Lease
Agreement shall be a partnership or other business association the members of
which are, by virtue of statute or general law, subject to personal liability
then, and in that event, the liability of each such member shall be deemed to be
joint and several.

                                     - 12 -
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement
under their respective seals as of the day and year first above written.

                                        UKROP'S SUPER MARKETS, INC.

ATTEST:

/s/ Jacquelin L. Ukrop                  By: /s/ James E. Ukrop
--------------------------                 -----------------------------
             Secretary                      James E. Ukrop, President

ATTEST:                                 OXBRIDGE SQUARE LIMITED PARTNERSHIP

WITNESS:

__________________________              By: /s/ James N. Plotkin
                                           -----------------------------
                                            James N. Plotkin, General Partner

                                        By: /s/ Ronald M. Plotkin
                                           -----------------------------
                                            Ronald M. Plotkin, General Partner

                                     - 13 -

<PAGE>

                            ACKNOWLEDGEMENT OF TENANT

CITY OF RICHMOND  )
                  ) to-wit:
STATE OF VIRGINIA )

      I, Joseph N. Melton, Jr., a Notary Public in and for the City aforesaid,
in the State of Virginia, do certify that James E. Ukrop, President of Ukrop's
Supermarkets, Inc., the Tenant in the foregoing Agreement, whose name is signed
to the foregoing Agreement, bearing the date on the 2 day of November 1979, has
acknowledged his signature before me in my City and State aforesaid and has
certified that the lease was duly executed pursuant to authority by the Tenants
Board of Directors.

      Given under my hand and seal this 2 day of November, 1979.

      My commission expires: April 29, 1981

                                              /s/ Joseph N. Melton, Jr.
                                        -------------------------------------
                                                   Notary Public

<PAGE>

                           ACKNOWLEDGEMENT OF LANDLORD

CITY OF RICHMOND  )
                  ) to wit:
STATE OF VIRGINIA )

      I, Donna H. Bruner, a Notary Public in and for the City aforesaid, in the
State of Virginia, do certify that James N. Plotkin and Ronald M. Plotkin,
General Partners of Oxbridge Square Limited Partnership, a limited partnership,
the Landlord in the foregoing Agreement, whose names are signed to the foregoing
Agreement, bearing the date on the 2nd day of November, 1979, have acknowledged
their signatures before me in my City and State aforesaid and have certified
that the said Agreement was signed and sealed by them on behalf of the said
partnership pursuant to authority given by all partners.

      Given under my hand and seal this 7th day of November, 1973.

      My commission expires June 14, 1981

                                               /s/ Donna H. Bruner
                                             -------------------------
                                                   Notary Public

<PAGE>

                                  SCHEDULE "B"

      Tenant agrees that all garbage and refuse shall be kept in sanitary
containers designed to hold compacted refuse and placed outside the premises for
collection in the manner and at the times and places specified by the Landlord.
Tenant shall pay the cost of removal of tenant's refuse or rubbish.

      Landlord agrees to the following:

      (1) Paved parking area for Supermarket to be furnished with spaces ten
(10) feet wide and marked with double lines. Number to be determined by
agreement between Lessor and Lessee.

      (2) Provide lighting in parking area so that a minimum of two foot candles
is maintained throughout the whole area.

      (3) Landscape and maintain grass plots in shopping center and along
entrances and exits.

      (4) Provide an appropriately marked parcel pickup lane parallel to store
front.

      (5) Maintain and repair exterior of the store building except for sign
erected by Lessee.

      (6) Provide tenant with all utility connections which shall be
underground.

      The following items, #7 through #38, are intended as guidelines which may
have been revised. The plans and specifications prepared by Brundage-Kroskin &
Associates, architects, dated June 19, 1979, shall be considered part of this
Schedule "B". If any questions about items #7 through #38 should arise, it is
understood that the plans and specifications prepared by, Brundage-Kroskin &
Associates and dated June 29, 1979, shall control and prevail:

      (7) Three phase electrical service in amount of 20% more than initial
requirements.

      (8) Four heated and air conditioned toilets in store, equipped in similar
manner as the Dumbarton Square store.

      (9) Adequate heating and air conditioning for store, including use of
still coils in meat preparation room. Ducts to be installed for return air to
air handling units the same as the Dumbarton Square store.

      (10) Ceilings and roof to be properly insulated.

      (11) Hot water heating units (electric) and also high low drinking
fountains in sales area and regular water fountain in stock room. Heating units
to have two hundred fifty gallons total capacity.

      (12) The plumbing and electrical connections of all refrigeration and
processing equipment normally used in a food store including a NCR 255 system
with generator.

      (13) Electrical power to compressor room and trough and the connecting of
the compressors. (Location of panel box subject to the approval of tenant.)

      (14) Enough electrical receptacles carrying voltage of 110 and 220 as are
needed by tenant.

      (15) Plumbing traps as are needed by tenant.

      (16) Recessed lights are to be used over meat cases on four foot centers
(similar to tenant's Dumbarton Square store).

      (17) The compressor room to be of adequate size and to have a block and
tackle hoist as necessary.

      (18) Two compartment steel sinks (as at Dumbarton Square store) are to be
located in the meat, delicatessen, and produce departments and hand sinks in the
delicatessen and meat departments.

<PAGE>

Schedule "B" continued.

      (19) The store is to be painted in accordance with the Tenant's choice of
colors and office is to be installed inside of the store in similar manner as
Tenant's Dumbarton Square store. Also, provision shall be made for storage room
under office.

      (20) The store is to be partitioned in accordance with tenant's wishes,
plan to be attached.

      (21) The meat room and delicatessen department will have ceiling, traps,
electrical receptacles (including three phase current) as needed with ceramic
tile walls.

      (22) Fire doors with automatic panic hardware as required.

      (23) Water lines shall be run to produce cases and there shall be a cold
water outlet at the front and hot and cold water outlets at the rear of the
store. Also, there shall be an electrical outlet on the front of the store.

      (24) Automatic doors shall be furnished and installed by Landlord (brand
to be approved by Tenant). Tenant to maintain said doors during the term of this
lease.

      (25) Exterior lights shall be provided over each rear exit door and shall
be placed on an automatic switch.

      (26) Electrical service should be brought to front of store and connected
to the sign supplied by the tenant.

      (27) Floor preparation and insulation shall be provided for freezers.

      (28) Trenches for refrigeration lines and electrical conduits are to be
dug and covered.

      (29) The rear doors shall be steel, equipped with bar on each.

      (30) Louvers and exhaust fan in compressor room shall be furnished and
installed.

      (31) The floor of selling area is to be vinyl asbestos tile, color to be
selected by tenant.

      (32) The backroom shall be supplied with adequate heating and lighting and
shall be painted as requested by the tenant.

      (33) All interior and exterior doors and their frames are to be metal.

      (34) A concrete pad for tenant's compactor as shown on tenant's floor plan
will be furnished.

      (35) A concrete pad will be furnished the width of the rear loading dock.
The pad shall extend 60 feet on each side.

      (36) Lessee will furnish the owners architect a fixture floor plan, a
complete electrical floor plan, fixture plumbing plan, and a mechanical plan.

      (37) A sprinkler system similar to the one at the Bermuda Square store and
as approved by the insurance rating bureau will be provided by the Landlord.

      (38) No sign other than shopping center sign erected by Landlord shall be
erected or permitted on Route 360 or Route 654.

                                       2
<PAGE>

Land Use Analysis

<TABLE>
<CAPTION>
unit          tenant               area
----          ------               ----
<S>     <C>                      <C>
  1                                1,014
  2                                1,014
  3                                  675
  4     CLEANERS                     675
  5                                  675
  6                                  675
  7                                  675
  8                                  675
  9                                  760
 10     ICE CREAM                  1,200
 11     A.B.C. STORE               3,400
 12     DRUG FAIR                 16,120
 14                                2,080
 15     RICHMOND FEDERAL SSL       1,500
 16                                1,300
 17                                1,625
 18     COMMUNITY ROOM
 19                                1,137
 20     FLORIST                    1,100
 21                                1,400
 22                                1,500
 23                                1,500
 24                                2,000
 25                                2,000
 26                                2,625
 27                                2,625
 28                                2,000
 29                                2,000
 30                                2,400
 31                                2,400
 32     UKROP'S                   32,742
 33                                2,000
 34                                1,600
 35                                1,600
 36     AUDIO                      2,000
 37     TRUE VALUE HOME CENTER    15,000
GROSS LEASABLE AREA              113,692
PARKING FOR SHOPPING CENTER          572
</TABLE>

          5 SPACES / 1,000 SF LEASABLE AREA

                    [OXBRIDGE SQUARE SHOPPING CENTER LEASING PLAN]

Oxbridge Square Shopping Center              Leasing Plan
Chesterfield County, Virginia

[DUMBARTON PROPERTIES LOGO]          Note: Subject To Change

7113 Staples Mill Road - P.O. Box 29881 - Richmond, Virginia 23229 - (804)
266 - 4969
<PAGE>

                          LEASE MODIFICATION AGREEMENT.

THIS LEASE MODIFICATION AGREEMENT is made this 9th day of March, 1981, by and
between OXBRIDGE SQUARE LIMITED PARTNERSHIP, hereinafter referred to as Landlord
and UKROP'S SUPERMARKETS, INCORPORATED, a Virginia corporation, hereinafter
referred to as Tenant;

                              W I T N E S S E T H:

THAT, WHEREAS, by Shopping Center Lease dated November 2, 1979, hereinafter
referred to as "said lease", Landlord leased to Tenant a portion of certain real
property situated in the,County of Chesterfield, Virginia; said property being
more particularly described in said lease and on which Landlord has constructed
the OXBRIDGE SQUARE SHOPPING CENTER; and

WHEREAS, Landlord and Tenant mutually, agree that the graduated rent payment
schedule set forth Originally, is to be eliminated and that rent payments are to
be based on level amounts, for the remaining 290 months of the lease term
beginning April 1, 1981, and

WHEREAS, Landlord and Tenant mutually agree that the difference between the old
monthly rental rates and the new monthly rental rates which accrued, between
June 3,1980, and March 31, 1981, shall be paid along with the monthly rental in
equal monthly payments for the 290 months remaining in the lease term from April
1, 1981, through June 30, 2005, and

WHEREAS, the parties hereto now desire to modify said lease as hereinafter
provided,

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained, the parties hereto do hereby covenant and agree to and with each
other as follows:

FIRST: Section 7. Effective April 1, 1981, the Rentals Payable clause in the
lease, on page -2- is hereby deleted and replaced by the following new Section
7. which shall read as follows:

       Section 7. Tenant covenants and agrees to pay Landlord, c/o Dumbarton
Properties, Incorporated, 7113 Staples Mill Road, P.O. Box 9462, Richmond,
Virginia 23228, or at such place as may be designated by Landlord, at the
following rates:

      (a)   A minimum annual rental at the rate of:

            Two Hundred Ten Thousand, Four Hundred One & 16/100 Dollars
            ($210,401.16)

            for the remaining twenty-four and two-twelfths (24 2/12ths) years of
            the lease term, plus,

      (b)   An annual percentage rental equal to one per cent (1%) of gross
            annual sales, as hereinafter defined, in excess of:

            Sixteen Million, Eight Hundred Thirty-Two Thousand. Ninety-Two &
            80/100 Dollars
            ($16,832,092.80)

            for the remaining twenty-four and two-twelfths (24 2/12ths) years
            of the lease term.

            For clarification, the gross sales "breakpoint" was calculated as
            follows:

            $210,401.16 divided by 1.25% = $16,832,092,80

<PAGE>

SECOND: Effective April 1, 1981, Section 8., Minimum Monthly Rentals is hereby
deleted, and replaced by the following new Section 8., which shall read as
follows :

            Section 8. Beginning with the April 1, 1981 payment, instead of the
graduated payments originally stipulated, the minimum monthly rental shall be
payable without demand, in advance on the first day of each full calendar month
during the remaining 290 months of the lease term, in equal monthly installments
of:

            Seventeen Thousand, Five Hundred Thirty-Three & 43/100 Dollars
($17,533,43).

For clarification, the amount of the new monthly payments was calculated as
follows :

<TABLE>
<S>                                             <C>
Total Rent due under new lease terms            $5,215,181.00
Less:  Rent paid through March, 1981              (129,485.06)
                                                -------------
       Balance remaining to be paid             $5,084,695.43
</TABLE>

            Number of months remaining in lease term is 290.

            $5,084,695.43 divided by 290 = new monthly rent = $17,533.43

THIRD: That except as herein modified, all of the terms and conditions of said
Shopping Center Lease dated November 2, 1979, shall remain in full force and
effect.

FOURTH: That each and all of the covenants, terms, agreements, and obligations
of this Lease Modification Agreement shall extend to and bind and inure to the
benefit of the heirs, personal representatives, successors and/or assigns of the
Landlord and to the successors and/or assigns of the Tenant; that herein the
singular number includes the plural and the masculine gender includes the
feminine and the neuter.

IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the
day and year first above written.

                                     Landlord: OXBRIDGE SQUARE LTD. PARTNERSHIP

                                               By /s/ Ronald M. Plotkin
                                                  -----------------------------
                                                  General Partner

                                               By /s/ James N. Plotkin
                                                  -----------------------------
                                                  General Partner

                                     Tenant:   UKROP'S SUPERMARKETS, INC.
Corporate Seal

                                               By /s/ James E. Ukrop
                                                  -----------------------------
                                                  President

                                               By /s/ Jacquelin L. Ukrop
                                                  -----------------------------
                                                  Secretary

<PAGE>

                                               (Tenant)

STATE OF VIRGINIA,

STATE OF VIRGINIA AT LARGE, to-wit:

      I, the undersigned, a Notary Public in and for the jurisdiction aforesaid,
do hereby certify that James E. Ukrop and Jacquelin L. Ukrop whose names as
President and Secretary, respectively, of Ukrop's Super Markets, Inc., are
signed to the foregoing Lease Agreement dated as of March 9, 1981, have each
acknowledged the same before me in my jurisdiction aforesaid.

      Given under my hand this 21st day May, 1981.

      My commission expires April 16, 1985.

                                             /s/ Joseph N. Melton, Jr.
                                       ---------------------------------------
                                                   Notary Public

<PAGE>

                                               (Landlord)

STATE OF VIRGINIA,

CITY OF RICHMOND, to-wit:

      I, the undersigned, a Notary Public in and for the jurisdiction aforesaid,
do hereby certify that Ronald M. Plotkin & James N. Plotkin, whose names as
General Partners of Oxbridge Square Limited Partnership are signed to the
foregoing Lease Agreement dated as of March 9, 1981, has acknowledged the same
before me in my jurisdiction aforesaid.

      Given under my hand this 26th day of May, 1981.

      My commission expires February 20, 1983.

                                                       /s/ Lynn Christopher
                                                   -----------------------------
                                                           Notary Public
<PAGE>

                            LEASE AMENDMENT AGREEMENT

THIS LEASE AMENDMENT AGREEMENT is made this 15th day of October, 1981, by and
between Oxbridge Square Limited Partnership, hereinafter referred to as
Landlord, and Ukrop's Supermarkets, Inc., hereinafter referred to as Tenant;

                              W I T N E S S E T H :

THAT, WHEREAS, by Shopping Center Lease dated November 2, 1979, hereinafter
referred to as "said lease", Landlord leased to Tenant a portion of certain real
property situated in the County of Chesterfield, Virginia; said property being
more particularly described in said lease and on which Landlord has constructed
the Oxbridge Square Shopping Center, and

WHEREAS, the parties hereto now desire to amend said lease as hereinafter
provided,

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained, the parties hereto do hereby covenant and agree to and with each
other as follows:.

FIRST:   The commencement date of said lease is June 3, 1980; the termination
         date of said lease' is June 30, 2005.

SECOND:  Section 56 shall be added to the lease as follows, on page 12:

            Section 56. Mortgagee Protection Clause. Lessee agrees to give any
            Mortgage and/or Trust Deed Holders, by Registered Mail, a copy of
            any Notice of Default served upon the Lessor, provided that prior to
            such notice Lessee has been notified, in writing, (by way of Notice
            of Assignment of Rents and Leases, or otherwise) of the address of
            such Mortgagees and/or Trust Deed Holders. Lessee further agrees
            that if Lessor shall have failed to cure such default within the
            time provided for in this Lease, then the Mortgagees and/or Trust
            Deed Holders shall have an additional thirty (30) days within which
            to cure such default or if such default cannot be cured within that
            time, then such additional time as may be necessary if within such
            thirty (30) days, any Mortgagee and/or Trust Deed Holder has
            commenced and is diligently pursuing the remedies necessary to cure
            such default (including but not limited to commencement of
            foreclosure proceedings, if necessary to effect such cure), in which
            event this Lease shall not be terminated while such remedies are
            being so diligently pursued.

THIRD:   The last sentence of Section 40, which reads as follows, "Landlord's
         election not to reconstruct the destroyed premises, shall not be
         exercised within the first ten (10) years of this lease, and Landlord
         covenants that should the leased premises be damaged by fire or any
         other casualty so as to render them untenantable during the first ten
         (10) years of this lease, he will repair or reconstruct said premises,
         said repairs to be completed within six months from the date of said
         fire or casualty." is thereby deleted.

<PAGE>

FOURTH:  Section 41. Condemnation, shall be amended by the addition of the
         following sentence which says at the end of said section: "anything
         herein to the contrary notwithstanding, if less than twenty-five
         percent (25%) of the leased premises shall be taken under the power of
         eminent domain, then this lease shall terminate as to the part so
         taken, and the Landlord shall make such repairs and alterations as may
         be necessary in order to restore the part not taken to useful
         condition; and the minimum rental shall be reduced proportionately as
         to the portion of the leased premises so taken. If the amount of the
         leased premises taken is such as to impair substantially the usefulness
         of the leased premises for the purposes for which the same are leased,
         then either party shall have the option to terminate this lease."

FIFTH:   Section 24. Prompt Occupancy and Use, on page five, of said lease
         shall be amended as follows:

            Sub-paragraph (b) of Section 24 shall have the following language at
            the end of the word "be", which is the last word in the second
            sentence of sub-paragraph (b), and at the bottom of page five,
            "required to remain open until 9:00 o'clock P.M. fewer specifically
            designated, nights each week (or subsequent to such reduction, may
            be increased or reduced, without limitation on the number of such
            increases or reductions) upon resolution to that effect approved by
            a majority of the members of the Merchants Association at any
            regular or special meeting of the Association. The foregoing
            provisions are intended to establish minimum store hours; Tenant may
            remain open for such periods of time as it may desire in addition to
            the established minimum store hours.

            Sub-paragraph (c) shall be added to Section 24 as follows:

                    it is understood and agreed that the provisions of
               sub-paragraph (b) shall not be applicable to premises leased to a
               bank, similar service type operations or other operations as may
               be designated by Landlord, and tenants leasing premises so
               designated shall not be entitled to vote for control of store
               hours as contemplated by sub-paragraph (b) nor shall they be
               calculated in arriving at a majority of the members of the
               Merchants Association for the purposes of sub-paragraph (b).

            Sub-paragraph (d) shall be added as follows:

               (d) Tenant will not permit, allow, or cause any public or private
               auction sales to be conducted on or from the leased. premises,
               and will not use or permit any use of the leased premises except
               in a manner consistent with the general high standards of
               merchandising in the Center.

SIXTH:   That except as herein modified, all of the terms and conditions of said
         lease shall remain in full force and effect.

SEVENTH: That each and all of the covenants, terms, agreements, and obligations
         of this Lease Amendment Agreement shall extend to and bind and inure to
         the benefit of the heirs, personal representatives, successors and/or
         assigns of the Landlord and to the successors and/or assigns of the
         Tenant; that herein the singular number includes the plural and the
         masculine gender includes the feminine and the neuter.
<PAGE>

                       THIRD LEASE MODIFICATION AGREEMENT

THIS LEASE MODIFICATION AGREEMENT, made in Henrico County, Virginia, this 28th
day of December, 1987, by and between OXBRIDGE SQUARE LIMITED PARTNERSHIP,
(hereinafter referred to as "Landlord"), and

            UKROP'S SUPER MARKETS, INC., (hereinafter referred to as "Tenant"),

                              W I T N E S S E T H :

WHEREAS, by Shopping Center Lease dated November 2, 1979, by and between
Landlord and Tenant, as modified by LEASE MODIFICATION AGREEMENT dated the 9th
day of March, 1981, and as amended by LEASE AMENDMENT AGREEMENT dated the 15th
day of October, 1981, and otherwise hereinafter referred to as "said lease",
which phrase shall include such lease, all modifications, and all amendments
thereto, Landlord leased to Tenant a portion of certain real property being more
particularly described in said lease and on which Landlord has constructed the
Oxbridge Square Shopping Center; and

WHEREAS, to effect the construction of an addition of approximately 1,770 sq.
ft. (hereinafter referred to as the "Building Addition"), and the annexation of
an adjoining space of approximately 2,400 sq. ft. (hereinafter referred to as
the "Annexed Space"), the parties hereto now desire to modify said lease as
hereinafter provided;

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained, and other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged by Landlord and Tenant, the parties
hereto do hereby covenant and agree to and with each other as follows:

      1. Adjustment in Gross Leasable Area (GLA)

            A. The GLA ("gross leasable area") as set forth in Exhibit "A" of
the lease, and stipulated in the first paragraph of the first page of said
lease, as being 32,742 square feet, shall be increased by the sum of the gross
Leasable square foot area of the Building Addition as well as the gross leasable
square foot area of the Annexed Space as well as any newly created areas
considered as gross leasable area created in the renovation, addition,
annexation process. All calculations of monies due under the lease based on
Tenant's gross leasable area, e.g., real estate taxes, insurance, CAM,
Merchant's Association dues, (if any), etc., shall be computed based on the
newly adjusted building GLA. This adjustment shall reflect the addition of the
2,400 square foot Annexed Space upon the Effective Date Of this LEASE
MODIFICATION AGREEMENT, as hereinafter defined, and shall reflect the addition
of the 1,770 square foot Building Addition, on the date it is opened to
customers, or November 1, 1988, whichever date occurs first.

            B. The total adjusted GLA anticipated after incorporation of both
the 2,400 square foot Annexed Space and the 1,770 square foot Building Addition
is anticipated to be

              32,742   existing GLA
               2,400   annexed store space
               1,770   addition to be built

Total new GLA 36,912 = square feet. (New total GLA to be adjusted promptly to
reflect any actual changes that might be made during or prior to construction.)

                                       1

<PAGE>

      2. Effective Date of Lease Modifications and Term

            The date on which this LEASE MODIFICATION AGREEMENT shall become
effective (hereinafter referred to as the "Effective Date"), shall be the date
on which it has been fully executed, or November 1, 1987, whichever occurs
first.

            The commencement date of the provisions governing the Building
Addition shall be the date it is opened to customers, or November 1, 1988,
whichever occurs first.

            The commencement date of the provisions governing the Annexed Space
shall be the Effective Date of this LEASE MODIFICATION AGREEMENT, except as
indicated in provisions 3 B (i). and 3 B (ii) below.

            The termination dates of the lease terms of the 2,400 square foot
Annexed Space and the 1,770 square foot Building Addition shall match the time
periods remaining on the present lease, both with respect to initial term and
option periods.

      3. Rental Adjustments

            A. Building Addition

                  (i). For the first five (5) year period following the
Effective Date of this LEASE MODIFICATION AGREEMENT, no minimum annual rental
shall be paid on the 1,770 square foot Building Addition. However, Tenant shall
pay to Landlord as additional rent, along with the other minimum monthly rentals
due in said lease, such real estate taxes, insurance, and common area
maintenance as defined in said lease, on an estimated pro-rata share basis,
incorporating the square foot area of the Building Addition as indicated in
Provision 1. above, for the duration of the term of said lease.

                  (ii). At the end of the first five (5) year period following
the Effective Date of this LEASE MODIFICATION AGREEMENT, if the cumulative total
of percentage rents saved by Tenant under Paragraph 3. C. below (See 3.C.(ii)
below - Col. (E) of illustration) has not equaled the total structural costs of
the 1,770 square foot Building Addition and the structural costs of
incorporating the Annexed Space, up to the $70,000 maximum, Landlord shall have
the option to reimburse Tenant the balance of said structural costs, up to the
$70,000 maximum, not saved through the special temporary adjustment in
percentage rents, and Tenant would then pay Landlord additional minimum annual
rental equal to the product obtained by multiplying the total amount so
reimbursed by a figure equal to one percent (1%) plus the Landlord's permanent
loan rate constant (the scheduled annual repayment divided by the outstanding
loan balance) for the year then in effect, paid in equal monthly installments,
for the balance of the initial lease term and option periods.

                  (iii). If such option is exercised by Landlord, the percentage
rental breakpoint payable in Section 7.(b) of said lease shall be adjusted
upwards by an amount equal to the quotient obtained by dividing the additional
rent payable as stipulated above, by 1.25%.

                  (iv). If Landlord does not exercise the option in subparagraph
(ii). above, Tenant shall continue to lease the Building Addition without paying
any minimum annual rental on said building addition, for the balance of the
initial term of said lease, and option periods. However, additional rentals,
consisting of real estate taxes, insurance, and common area maintenance, as
defined in said lease, shall be paid as indicated in 3.A.(i). above, whether
Landlord exercises its option or not.

                                        2

<PAGE>

      B. Annexed Space

            (i). Upon the date the Annexed Space is open to the public, or
November 1, 1988, whichever date shall first occur, total Minimum Annual Rentals
payable as set forth in Section 7 of said lease, as adjusted in the LEASE
MODIFICATION AGREEMENT dated March 9, 1981, shall be increased by twenty-four
thousand and 00/100 dollars ($24,000.00), which increase represents a minimum
annual rate for the Annexed space, equal, to $10.00 per square foot.

            (ii). Upon the date the Annexed Space is open to the public, or
November 1, 1988, whichever date shall first occur, Minimum Monthly Rentals as
stipulated in Section 8 of said lease as modified in the March 9, 1981 LEASE
MODIFICATION AGREEMENT, shall be increased by one-twelfth (1/12th) of the
increase in the minimum annual rent in subparagraph 3. B. (i). above, that is,
1/12 x ($24,000.00) = $2,000.00 per month. The new monthly payment will be
$17,533.43 (the old Minimum Monthly Rental) plus $2,000.00, for a new total
Minimum Monthly Rental of $19,533.43.

            (iii). Upon the Effective Date of this LEASE MODIFICATION AGREEMENT,
Tenant shall be responsible for and pay the costs of all utilities on the
annexed space.

            (iv). Upon the Effective Date of this LEASE MODIFICATION AGREEMENT,
real estate taxes, insurance, and common area maintenance, as defined in said
lease, shall be payable by Tenant as additional rent to the Landlord, for the
2,400 sq. ft. Annexed Space, along with and in addition to the minimum monthly
rental, in monthly estimates as follows:

<TABLE>
<S>                              <C>
Real Estate Taxes:               $ 88.00
                                 -------
Insurance:                       $ 32.00
                                 -------
CAM:                             $ 60.00
                                 -------
    Total:                       $180.00
                                 -------
</TABLE>

These estimates shall be adjusted by Landlord from time to time, to reflect
actual and projected costs, with adjustment for over or under payments made at
the end of each tax year, based on actual costs.

            (v). At the end of the first five (5) year period following the
Effective Date of this LEASE MODIFICATION AGREEMENT, if the percentage rents
Payable to Landlord (see Column (C) in Paragraph 3.C. below), pursuant to the
temporary modification in the percentage rent computation in 3.C.(ii) below,
i.e., the actual amount payable at fifty percent (50%) of the percentage rents
otherwise payable under Section 7.(b) of said Lease, have not been at least
thirty-six thousand and 00/100 dollars ($36,000,00), Landlord shall have the
right to increase the minimum annual rental rate on the 2,400 square foot
annexed space to an amount equal to thirteen and 00/100 dollars ($13.00) per
square foot for the succeeding five (5) years. Thereafter, at the end of the
second and each succeeding five (5) year period, and upon the commencement of
any option periods, Landlord shall have the option to increase the annual
rentals on said 2,400 square foot Annexed Space in accordance with the Consumer
Price Index, as follows:

                                        3

<PAGE>

      The minimum annual rental shall be increased by a percentage equal to the
      cumulative percentage increase in the appropriate U. S. Department of
      Labor Consumer Price Index (Urban Consumers, All Cities Average) (or its
      equivalent) from the first day of the first year of the preceding five (5)
      year period, until the first day of the succeeding five (5) year period.
      For example, if the minimum annual rental during the second five (5) year
      period was $31,200.00, and the cumulative increase in the appropriate CPI
      during the second five (5) year period was twenty-five percent (25%), then
      the minimum annual rental for the next five (5) year period would be
      $31,200.00 multiplied by 1.25, that is, $39,000.00.

      C. Special Adjustments in Percentage Rent

            (i). For the duration of the term of said lease and any renewals and
extensions thereof, all gross sales generated in the Annexed Space and the
Building Addition shall be reported and included along with the sales from the
originally demised premises for the purpose of computing and paying percentage
rents, pursuant to Section 7(b) of said lease, as well as all other sections
dealing with payment of percentage rents and reporting of gross sales,
including, but not by way of limitation, Sections 9, 10, 11, 12, and 13.

            (ii). Payment of any percentage rents payable pursuant to said
lease, specifically as stipulated in Section 7.(b), as modified in the March 9,
1981 LEASE MODIFICATION AGREEMENT, shall be temporarily modified as follows:

      Tenant shall be obligated to pay only one-half (50%) of the percentage
      rentals payable under said Section 7.(b) of said lease, until the
      cumulative total thus saved has reached the total of monies spent on
      structural costs of the 1,770 square foot Building Addition and the 2,400
      square foot Annexed Space, up to a maximum of seventy thousand and 00/100
      dollars ($70,000.00), at which point in time, percentage rent payments are
      to be resumed at 100% of the amounts payable in accordance with said
      Section 7.(b) of said lease. For illustration, if, say, over seven years,
      total percentage rents due and payable were as shown in Column (B) below,
      then percentage rents paid by Tenant to Landlord would be as shown in
      Column (C). The amounts saved annually and cumulatively would be as shown
      in Columns (D) and (E) respectively. Note that once the cumulative savings
      total $70,000, the special 50% rate of this Provision 3.C. would expire,
      and 100% of the percentage rents payable would be paid to Landlord, as
      shown for year 7, and Tenant would resume payment of percentage rents as
      stipulated in Section 7.(b) of said lease.

      For clarification, the fifty percent (50%) rate of reduction mentioned in
      all parts of this Section 3. shall apply only to the actual amount of
      percentage rental first computed as due and payable, using the rate of
      percentage rent and the percentage rent breakpoints stipulated in Section
      7.(b) of said Lease, as though there were no temporary modification.

                                        4

<PAGE>

<TABLE>
<CAPTION>
            (B)               (C)            (D)          (E)
 (A)     Payable Per      To Be Paid By    Saved BY    Cumulative
Year    Section 7. (b)       Ukrop's        Ukrop's      Savings
----    --------------    -------------    --------    ----------
<S>     <C>               <C>              <C>         <C>
 1           6,000            3,000          3,000        3,000
 2          10,000            5,000          5,000        8,000
 3          18,000            9,000          9,000        7,000
 4          24,000           12,000         12,000       29,000
 5          36,000           18,000         18,000       47,000
 6          46,000           23,000         23,000       70,000
 7          60,000           60,000              0          ---
</TABLE>

      4. Building Addition

            A. Within four (4) months of the Effective Date of this LEASE
MODIFICATION AGREEMENT, Tenant agrees to construct and complete a building
addition, consisting of approximately one thousand, seven hundred seventy
(1,770) square feet, made to the leased premises, within the area shown on
"Exhibit C", attached hereto, which area shall be designated in green as
"Ukrop's Building Addition". Said building addition shall be built by Ukrop's in
accordance with plans and specifications which are to be prepared by a licensed
architect, delivered to Landlord, and approved by Landlord in writing, initialed
by both parties and attached to this Lease Modification Agreement, prior to
commencement of construction, said approval not to be unreasonably withheld, and
in accordance with all applicable zoning and building codes, etc. The costs
(exclusive of store fixtures, decorations, and other personal property) shall be
certified to Landlord upon completion. Two (2) complete sets of "as built"
drawings and specifications shall be delivered to Landlord within two (2) months
of completion of the Ukrop's Building Addition. Tenant shall obtain Landlord's
prior written consent to any changes, other than those of a trivial or
incidental nature, to said plans and specifications.

            B. All construction, remodeling, and all site work, including, but
not only, utility lines, drainage, loading docks, dumpster pads, and the design
of aspects of the plans which might affect existing site plan and function of
the shopping center, shall be co-ordinated with Landlord's architects and
engineers and performed in accordance with the design recommendations of
Landlord's architects and engineers. Tenant shall pay the costs of such
reasonable fees as Landlord might incur in reviewing, coordinating, and revising
any plans and specifications, as well as all costs of and associated with the
construction of the addition, the incorporation of the annexed space, and
placing such additional spaces in service. Tenant shall also indemnify and hold
Landlord, Landlord's agents, representatives, and employees, harmless from all
such costs for which Tenant is responsible under this paragraph. Tenant shall
obtain Landlord's prior written consent to any changes, other than those of a
trivial or incidental nature, to said plans and specifications.

            C. All roof and structural maintenance, repairs, and replacements
necessary in regards to the building addition, as well as all other maintenance,
repairs and replacements to the interior and exterior of the building addition
shall be performed by Tenant at Tenant's sole cost and expense, in a good and
workmanlike manner in accordance with the quality standards maintained by
Landlord throughout the shopping center, and with all applicable building codes
and ordinances.

                                        5

<PAGE>

      5. Annexed Space

            A. Upon the Effective Date of this THIRD LEASE MODIFICATION
AGREEMENT, Tenant shall lease the space immediately to the east of the demised
premises, which space consists of two thousand four hundred (2,400) square feet,
(formerly Oxbridge Card and Gift), and is designated in blue as the Annexed
Space, on "Exhibit C" attached hereto and made a part hereof, and which space
shall be leased on an as "as is" basis.

            B. All plans and specifications for the renovation, remodeling and
alteration of the annexed space, including but not only those that might affect
the structure and/or exterior appearance of existing buildings, roof
installations, tie-ins, and/or penetrations, whether on the existing or new
buildings, shall be prepared by a licensed architect, delivered to and approved
by Landlord in writing and initialed by both parties in advance of construction,
and attached to this LEASE MODIFICATION AGREEMENT.

            C. The provisions in Paragraph 4.B. above shall also apply to all
work to be done in regards to the annexed space.

      6. General Provisions

            A. Landlord will continue to maintain the roof and structure of the
original demised premises of said lease, as well as of the 2,400 square foot
Annexed Space, as provided in Section 26. of said lease, exclusive of those
things Tenant is obligated to do pursuant to said lease, including but not
limited to Sections 26. and 27., provided the necessity for such repairs does
not arise from the acts, or failure to properly act, of Tenant, its agents,
employees, or contractors, or from overloading, or altering the buildings or
systems therein, or from failure to properly protect the existing structures
when operating or accessing or altering the existing buildings or any parts
thereof, for any purpose. Tenant acknowledges that neither the original demised
premises nor the Annexed Space are presently in need of roof or other structural
repairs or replacements by Landlord. It shall be the responsibility of Tenant to
maintain, repair, and replace as necessary any portions of the roof or structure
about which premature wear and tear might have been caused by Tenant's work,
access, installations or alterations throughout the newly adjusted GLA as
re-defined below. No work will be undertaken without the prior written consent
of Landlord. Landlord may require any such work necessitated by Tenant, to be
done at Tenant's cost by contractors approved by Landlord.

      7. That except as herein modified, all of the terms and conditions of said
lease shall remain in full force and effect, and, except as otherwise stipulated
herein, all clauses and sections of said lease shall apply to the new GLA of the
demised premises consisting of approximately 36,912 square feet.

      8. That each and all of the covenants, terms, agreements, and obligations
of this LEASE MODIFICATION AGREEMENT shall extend to and bind and inure to the
benefit of the heirs, personal representatives, successors and/or assigns of the
Landlord and to the successors and/or assigns of the Tenant; that herein the
singular number includes the plural and the masculine gender includes the
feminine and the neuter.

                                        6

<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the
day and year first above written.

                                  Landlord:  OXBRIDGE SQUARE LIMITED PARTNERSHIP

                                  BY: /s/ James N. Plotkin, General Partner
                                      -------------------------------------

                                  Tenant:  UKROP'S SUPER MARKETS, INC.

                                  BY: /s/ James E. Ukrop
                                      -------------------------------------

Date: _____________________

                                        7

<PAGE>

<TABLE>
<CAPTION>
 unit                tenant                 area
-----      ---------------------------     -------
<S>        <C>                             <C>
  1        Golden Razor                      1,014
  2        Chesterfield Optical              1,014
  3        Hong's Shoe Repair                  675
  4        Manchester Cleaners                 675
  5        Balon & Elias                       675
  6        Family Dentristry                   675
  7        H & R Block                         675
  8        Watch, Fen & Pencil                 675
  9                                            760
  10       Subway Sandwich Shop              1,200
  11       ABC Store                         3,034
  12       Drug Fair                        16,120
  14       Small World Pet Shoppe            2,080
  15       Avco Financial Service            1,500
  16       Brandle's Boutique                1,300
  17       Milby's Just Kids                 1,625
  18       Community Room                    1,200
  19       Pine Design                       1,137
  20       Rosebud Florist                   1,100
  21       Junior Shoe World                 1,400
  22                                         1,500
  23       Classic Touches                   1,500
  24                                         2,000
  25       Merribee Needlarts & Crafts       2,000
  26       Lady L Bridal & Formal            2,625
  27       Inter China Restaurant            2,625
  28       Imp Pedlar                        2,000
  29                                         2,000
  30       Rowlett's                         2,400
  31       Oxbridge Card & Gift              2,400
  32       Ukrops Supermarket               31,348
  33       Duron Paint                       2,000
  34       Veterinary Clinic                 1,600
  35       Mad Hatter Hairstyling            1,600
  36       Video Square                      2,000
  37       Tom Brown Hardware               15,000
GROSS LEASABLE AREA                        111,932
PARKING FOR SHOPPING CENTER                    577
</TABLE>

           1 SPACE / 194 SF LEASABLE AREA

                 [OXBRIDGE SQUARE SHOPPING CENTER LEASING PLAN]

Oxbridge Square Shopping Center     Leasing Plan
Chesterfield County, Virginia

[DUMBARTON PROPERTIES LOGO]

7113 Staples Mill Road - P.O. Box 29881 - Richmond, Virginia 23229 - (804)
266-4969

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]