Document:

Exhibit 10.3

 

MASTER LEASE AGREEMENT

 

 

THIS MASTER LEASE
AGREEMENT (this “Lease”) is made as of August 30, 2018 (the “Effective Date”), by and
between STORE CAPITAL ACQUISITIONS, LLC, a Delaware limited liability company (“Lessor”), whose address
is 8377 E. Hartford Dr., Suite 100, Scottsdale, Arizona 85255, and ARC GROUP INC., a Nevada corporation (“Lessee”),
whose address is 6327-4 Argyle Forest Blvd., Jacksonville, FL 32244. Capitalized terms not defined herein shall have the meanings
set forth in Exhibit A hereto.

 

In consideration of
the mutual covenants and agreements herein contained, Lessor and Lessee hereby covenant and agree as follows:

 

ARTICLE
I

Basic Lease Terms

 

Section 1.01. Properties.
The street addresses and legal descriptions of the Properties are set forth on Exhibit B attached hereto.

 

Section 1.02. Initial
Term Expiration Date. August 31, 2038.

 

Section 1.03. Extension
Options. Four (4) extensions of five (5) years each, as described in Section 3.02.

 

Section 1.04. Term
Expiration Date (if fully extended). August 31, 2058.

 

Section 1.05. Initial
Base Annual Rental. $876,875, as described in Article IV.

 

Section 1.06. Rental
Adjustment. The lesser of (i) 1.75%, or (ii) 1.25 times the change in the Price Index, as described in Section 4.02.

 

Section 1.07. Adjustment
Date. September 1, 2019 and every annual anniversary thereafter during the Lease Term (including any Renewal Term).

 

Section 1.08. Security
Deposit. None.

 

Section 1.09. Guarantor.
Seenu Kasturi, an individual.

 

Section 1.10. Lessee
Tax Identification No. 59-3649554.

 

Section 1.11. Lessor
Tax Identification No. 45-2674893.

 

ARTICLE
II

Lease of Properties

 

Section 2.01. Lease.
In consideration of Lessee’s payment of the Rental and other Monetary Obligations and Lessee’s performance of all other
obligations hereunder, Lessor hereby leases to Lessee, and Lessee hereby takes and hires, the Properties, “AS IS” and
 “WHERE IS” without representation or warranty by Lessor, and subject to the existing state of title, the parties in
possession, any statement of facts which an accurate survey or physical inspection might reveal, and all Legal Requirements now
or hereafter in effect.

 

    
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Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

Section 2.02. Quiet
Enjoyment. So long as Lessee shall pay the Rental and other Monetary Obligations provided in this Lease, and shall keep and
perform all of the terms, covenants and conditions on its part contained herein, Lessee shall have, subject to the terms and conditions
set forth herein, the right to the peaceful and quiet enjoyment and occupancy of the Properties; provided, however, in no
event shall Lessee be entitled to bring any action against Lessor to enforce its rights hereunder if an Event of Default, or any
event or circumstance which, with the giving of notice or the passage of time, or both, would constitute an Event of Default, shall
have occurred and be continuing.

 

ARTICLE
III

Lease Term; Extension

 

Section 3.01. Initial
Term. The initial term of this Lease (“Initial Term”) shall commence as of the Effective Date and shall
expire at midnight on the date set forth in Section 1.02 (“Expiration Date”), unless terminated sooner as provided
in this Lease and as may be extended as provided herein. The time period during which this Lease shall actually be in effect, including
any Renewal Term, is referred to as the “Lease Term.”

 

Section 3.02. Extensions.
Unless this Lease has expired or has been sooner terminated, or an Event of Default has occurred and is continuing at the time
any extension option is exercised, and provided that all other agreements necessary to the continued operation of Lessee’s
business at each of the Properties are extended for a period of not less than the applicable extension periods, Lessee shall have
the right and option (each, an “Extension Option”) to extend the Initial Term for all and not less than all
of the Properties for four (4) additional successive periods of five (5) years each (each, an “Renewal Term”),
pursuant to the terms and conditions of this Lease then in effect.

 

Section 3.03. Notice
of Exercise. Lessee may only exercise the Extension Options by giving written notice thereof to Lessor of its election to do
so no later than one hundred twenty (120) days prior to the Expiration Date and one hundred twenty (120) days prior to the immediately
preceding Renewal Term, as the case may be. If written notice of the exercise of any Extension Option is not received by Lessor
by the applicable dates described above, then this Lease shall terminate on the last day of the Initial Term or, if applicable,
the last day of the Renewal Term then in effect. Upon the request of Lessor or Lessee, the parties hereto will, at the expense
of Lessee, execute and exchange an instrument in recordable form setting forth the extension of the Lease Term in accordance with
this Section 3.03.

 

Section 3.04. Removal
of Personalty. Upon the expiration of the Initial Term or any Renewal Term, and if Lessee is not then in breach hereof, Lessee
may remove from the Properties all personal property belonging to Lessee. Lessee shall repair any damage caused by such removal
and shall leave all of the Properties clean and in good and working condition and repair inside and out, subject to normal wear
and tear, casualty and condemnation. Any property of Lessee left on the Properties on the tenth day following the expiration of
the Initial Term or any Renewal Term shall, at Lessor’s option, automatically and immediately become the property of Lessor.

 

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ARTICLE
IV

Rental and Other Monetary Obligations

 

Section 4.01. Base
Monthly Rental. During the Lease Term, on or before the first day of each calendar month, Lessee shall pay in advance the Base
Monthly Rental then in effect. If the Effective Date is a date other than the first day of the month, Lessee shall pay to Lessor
on the Effective Date the Base Monthly Rental prorated by multiplying the Base Monthly Rental by a fraction, the numerator of which
is the number of days remaining in the month (including the Effective Date) for which Rental is being paid, and the denominator
of which is the total number of days in such month.

 

Section 4.02. Adjustments.
During the Lease Term (including any Renewal Term), on the first Adjustment Date and on each Adjustment Date thereafter, the Base
Annual Rental shall increase by an amount equal to the Rental Adjustment; provided, however, that in no event shall Base
Annual Rental be reduced as a result of the application of the Rental Adjustment.

 

Section 4.03. Additional
Rental. Lessee shall pay and discharge, as additional rental (“Additional Rental”), all sums of money required
to be paid by Lessee under this Lease which are not specifically referred to as Rental. Lessee shall pay and discharge any Additional
Rental when the same shall become due, provided that amounts which are billed to Lessor or any third party, but not to Lessee,
shall be paid within fifteen (15) days after Lessor’s demand for payment thereof or, if later, when the same are due. In
no event shall Lessee be required to pay to Lessor any item of Additional Rental that Lessee is obligated to pay and has paid to
any third party pursuant to any provision of this Lease.

 

Section 4.04. Rentals
To Be Net to Lessor. The Base Annual Rental payable hereunder shall be net to Lessor, so that this Lease shall yield to Lessor
the Rentals specified during the Lease Term, and all Costs and obligations of every kind and nature whatsoever relating to the
Properties shall be performed and paid by Lessee, including without limitation, common area maintenance charges, if any, related
to the Properties. Lessee shall perform all of its obligations under this Lease at its sole cost and expense. All Rental and other
Monetary Obligations which Lessee is required to pay hereunder shall be the unconditional obligation of Lessee and shall be payable
in full when due and payable, without notice or demand, and without any setoff, abatement, deferment, deduction or counterclaim
whatsoever.

 

Section 4.05. Wire
Transfer. Payments of the Base Monthly Rental and any other Monetary Obligations payable to Lessor hereunder shall be paid
in immediately available funds to the account identified on Schedule 4.05 attached hereto, or to any other account as Lessor
may from time to time designate to Lessee. Each such payment shall be made by Lessee by wire or other electronic transfer of funds,
or automatic debit from an account designated by Lessee if so elected by Lessee. Lessee shall continue to pay all Rental and other
Monetary Obligations in such manner unless otherwise directed by Lessor. Notwithstanding the foregoing, in the event that Lessee
fails, more than twice during any calendar year, to pay the Base Monthly Rental by wire or other electronic transfer of funds when
due, Lessee shall deliver to Lessor a complete Authorization Agreement – Pre-Arranged Payments in the form provided by Lessor
together with a voided check for account verification, establishing arrangements whereby payments of the Base Monthly Rental are
transferred by Automated Clearing House Debit initiated by Lessor.

 

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Section 4.06. Late
Charges; Default Interest. Any delinquent payment shall, in addition to any other remedy of Lessor, incur a late charge of
five percent (5%) (which late charge is intended to compensate Lessor for the cost of handling and processing such delinquent payment
and should not be considered interest) and bear interest at the Default Rate, such interest to be computed from and including the
date such payment was due through and including the date of the payment; provided, however, (a) in no event shall Lessee
be obligated to pay a sum of late charge and interest higher than the maximum legal rate then in effect; and (b) three times
in every twelve (12) month period, no late charge or Default Interest shall accrue on delinquent Rental payments which are paid
within five (5) Business Days of the date due.

 

Section 4.07. Holdover.
If Lessee remains in possession of the Properties after the expiration of the term hereof, Lessee, at Lessor’s option and
within Lessor’s sole discretion, may be deemed a tenant on a month-to-month basis and shall continue to pay Rentals and other
Monetary Obligations in the amounts herein provided, except that the Base Monthly Rental shall be automatically increased to one
hundred fifty percent (150%) of the last Base Monthly Rental payable under this Lease, and Lessee shall comply with all the terms
of this Lease; provided that nothing herein nor the acceptance of Rental by Lessor shall be deemed a consent to such holding
over. Lessee shall defend, indemnify, protect and hold the Indemnified Parties harmless from and against any and all Losses resulting
from Lessee’s failure to surrender possession upon the expiration of the Lease Term, including, without limitation, any claims
made by any succeeding lessee.

 

Section 4.08. Guaranty.
On or before the execution of this Lease, Lessee shall cause Guarantor to execute and deliver to Lessor the Guaranty.

  

ARTICLE
V

Representations and Warranties of Lessee

 

The representations
and warranties of Lessee contained in this Article V are being made to induce Lessor to enter into this Lease, and Lessor
has relied, and will continue to rely, upon such representations and warranties. Lessee represents and warrants to Lessor as follows:

 

Section 5.01. Organization,
Authority and Status of Lessee. Lessee has been duly organized or formed, is validly existing and in good standing under the
laws of its state of formation and is or, as of the Effective Date, will be qualified as a foreign corporation to do business in
any jurisdiction where such qualification is required. All necessary company action has been taken to authorize the execution,
delivery and performance by Lessee of this Lease and of the other documents, instruments and agreements provided for herein, including
without limitation, the Transaction Documents. Lessee is not, and if Lessee is a “disregarded entity,” the owner of
such disregarded entity is not, a “nonresident alien,” “foreign corporation,” “foreign partnership,”
 “foreign trust,” “foreign estate,” or any other “person” that is not a “United States
Person” as those terms are defined in the Code and the regulations promulgated thereunder. The Person who has executed this
Lease on behalf of Lessee is duly authorized to do so.

  

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Section 5.02. Enforceability.
This Lease constitutes the legal, valid and binding obligation of Lessee, enforceable against Lessee in accordance with its terms.

 

Section 5.03. Property
Condition. Lessee has physically inspected all of the Properties and has examined title to the Properties, and has found all
of the same satisfactory in all respects for all of Lessee’s purposes.

 

Section 5.04. Litigation.
There are no suits, actions, proceedings or investigations pending, or to the best of its knowledge, threatened against or involving
any Lessee Entity or the Properties before any arbitrator or Governmental Authority which might reasonably result in any Material
Adverse Effect.

 

Section 5.05. Absence
of Breaches or Defaults. Lessee is not in default under any document, instrument or agreement to which Lessee is a party or
by which Lessee, the Properties or any of Lessee’s property is subject or bound, which has had, or could reasonably be expected
to result in, a Material Adverse Effect. The authorization, execution, delivery and performance of this Lease and the documents,
instruments and agreements provided for herein will not result in any breach of or default under any document, instrument or agreement
to which Lessee is a party or by which Lessee, the Properties or any of Lessee’s property is subject or bound.

 

Section 5.06. Licenses
and Permits. Lessee has obtained all required licenses and permits, both governmental and private, to use and operate the Properties
as Permitted Facilities.

 

Section 5.07. Financial
Condition; Information Provided to Lessor. The financial statements, all financial data and all other documents and information
heretofore delivered to Lessor by or with respect to the Lessee Entities and the Properties in connection with this Lease or relating
to the Lessee Entities or the Properties are true, correct and complete in all material respects; there have been no amendments
thereto since the date such items were prepared or delivered to Lessor; all financial statements provided were prepared in accordance
with GAAP, and fairly present as of the date thereof the financial condition of each individual or entity to which they pertain;
and no change has occurred to any such financial statements, financial data, documents and other information not disclosed in writing
to Lessor, which has had, or could reasonably be expected to result in, a Material Adverse Effect.

 

Section 5.08. Compliance
With OFAC Laws. None of the Lessee Entities, and no individual or entity owning directly or indirectly any interest
in any of the Lessee Entities, is an individual or entity whose property or interests are subject to being blocked under any of
the OFAC Laws or is otherwise in violation of any of the OFAC Laws; provided, however, that the representation contained
in this sentence shall not apply to any Person to the extent such Person’s interest is in or through a U.S. Publicly Traded
Entity.

 

Section 5.09. Solvency.
There is no contemplated, pending or threatened Insolvency Event or similar proceedings, whether voluntary or involuntary, affecting
Lessee or Guarantor, or to the best of Lessee’s knowledge, its shareholders or its Affiliates. Lessee does not have unreasonably
small capital to conduct its business.

 

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Section 5.10. Ownership.
No Person that actually or constructively owns ten percent (10%) or more of the outstanding capital stock of Lessor owns, directly
or indirectly, (a) ten percent (10%) or more of the total combined voting power of all classes of voting capital stock of Lessee,
or (b) ten percent (10%) or more of the total value of all classes of capital stock of Lessee.

 

ARTICLE
VI

Taxes and Assessments; UTILITIES; INSURANCE

 

Section 6.01. Taxes.

 

(a) Payment.
Subject to the provisions of Section 6.01(b) below, Lessee shall pay, prior to the earlier of delinquency or the accrual of
interest on the unpaid balance, all taxes and assessments of every type or nature assessed against or imposed upon the Properties,
Lessee or Lessor during the Initial Term or any Renewal Term related to or arising out of this Lease and the activities of the
parties hereunder, including without limitation, (i) all taxes or assessments upon the Properties or any part thereof and
upon any personal property, trade fixtures and improvements located on the Properties, whether belonging to Lessor or Lessee, or
any tax or charge levied in lieu of such taxes and assessments; (ii) all taxes, charges, license fees and or similar fees
imposed by reason of the use of the Properties by Lessee; (iii) all excise, franchise, transaction, privilege, license, sales,
use and other taxes upon the Rental or other Monetary Obligations hereunder, the leasehold estate of either party or the activities
of either party pursuant to this Lease; and (iv) all franchise, privilege or similar taxes of Lessor calculated on the value
of the Properties or on the amount of capital apportioned to the Properties. Notwithstanding anything in clauses (i) through
(iv) to the contrary, Lessee shall not be obligated to pay or reimburse Lessor for any taxes based on the net income of Lessor.

 

(b) Right
to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid,
Lessee shall provide Lessor with evidence reasonably satisfactory to Lessor that taxes and assessments have been timely paid by
Lessee. In the event Lessor receives a tax bill, Lessor shall use commercially reasonable efforts to forward said bill to Lessee
within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in
the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15)
days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in
good faith and with due diligence, any above-described item or lien with respect thereto, including, without limitation, the amount
or validity or application, in whole or in part, of any such item, provided that (i) neither the Properties nor any interest
therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has
occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts
a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof;
(iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee
in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the
amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have
been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements),
interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the
execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost
or obligation thereby.

 

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Section 6.02. Utilities.
Lessee shall contract, in its own name, for and pay when due all charges for the connection and use of water, gas, electricity,
telephone, garbage collection, sewer use and other utility services supplied to the Properties during the Initial Term or any Renewal
Term. Under no circumstances shall Lessor be responsible for any interruption of any utility service.

 

Section 6.03. Insurance.

 

(a) Coverage.
Throughout the Initial Term and any Renewal Term, Lessee shall maintain, with respect to each of the Properties, at its sole expense,
the following types and amounts of insurance, in addition to such other insurance as Lessor may reasonably require from time to
time:

 

(i) Insurance
against loss or damage to real property and personal property under an “all risk” or “special form” insurance
policy, which shall include coverage against all risks of direct physical loss, including but not limited to loss by fire, lightning,
wind, terrorism, and other risks normally included in the standard ISO special form (and shall also include National Flood and
Excess Flood insurance if the Property is located within a 100-year floodplain (FEMA Zones A and V) and earthquake insurance if
the Properties are located within a moderate to high earthquake hazard zone as determined by an approved insurance company set
forth in Section 6.03(b)(x) below). Such policy shall also include soft costs, a joint loss agreement, coverage for ordinance or
law covering the loss of value of the undamaged portion of the Properties, costs to demolish and the increased costs of construction
if any of the improvements located on, or the use of, the Properties shall at any time constitute legal non-conforming structures
or uses. Ordinance or law limits shall be in an amount equal to the full replacement cost for the loss of value of the undamaged
portion of the Properties and no less than 25% of the replacement cost for costs to demolish and the increased cost of construction,
or in an amount otherwise specified by Lessor. Such insurance shall be in amounts not less than 100% of the full insurable replacement
cost values (without deduction for depreciation), with an agreed amount endorsement or without any coinsurance provision, and with
sublimits satisfactory to Lessor, as determined from time to time at Lessor’s request but not more frequently than once in
any 12-month period.

 

(ii) Commercial
general liability insurance, including products and completed operation liability, covering Lessor and Lessee against bodily injury
liability, property damage liability and personal and advertising injury and liquor liability coverage, including without limitation
any liability arising out of the ownership, maintenance, repair, condition or operation of every Property or adjoining ways, streets,
parking lots or sidewalks. Such insurance policy or policies shall contain a broad form contractual liability endorsement under
which the insurer agrees to insure Lessee’s obligations under Article X hereof to the extent insurable, and a “severability
of interest” clause or endorsement which precludes the insurer from denying the claim of Lessee or Lessor because of the
negligence or other acts of the other, shall be in amounts of not less than $1,000,000 per occurrence and aggregate per location
for Commercial General Liability policy plus $2,000,000 Following Form Umbrella policy, or such higher limits as Lessor may reasonably
require from time to time, and shall be of form and substance satisfactory to Lessor.

  

(iii) Workers’
compensation with statutorily mandated limits and and Employers Liability insurance in the amount of $1,000,000, covering all persons
employed by Lessee on the Properties in connection with any work done on or about any of the Properties for which claims for death
or bodily injury could be asserted against Lessor, Lessee or the Properties.

 

(iv) Business
interruption insurance covering Lessee’s net profits and continuing expenses including Rental Value Insurance payable to
Lessor at all locations for a period of not less than twelve (12) months. Such insurance is to follow the form of the real property
 “all risk” or “special form” coverage and is not to contain a co-insurance clause.

 

(v) Non-owned
and hired car liability insurance for combined limits of liability of $1,000,000 per occurrence. The limits of liability can be
provided in a combination of an automobile liability policy and an umbrella liability policy.

 

(vi) Comprehensive
Boiler and Machinery Insurance or Equipment Breakdown against loss or damage from explosion of any steam or pressure boilers or
similar apparatus (if there is a steam or pressure boiler on a Property), and other building equipment including HVAC units located
in or about each Property and in an amount equal to the lesser of 25% of the 100% replacement cost of each Property or $5,000,000.

 

(vii) Such
additional and/or other insurance and in such amounts as at the time is customarily carried by prudent owners or tenants with respect
to improvements and personal property similar in character, location and use and occupancy to each Property.

 

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(b) Insurance
Provisions. All insurance policies shall:

 

(i) provide
(A) for a waiver of subrogation by the insurer as to claims against Lessor, its employees and agents; (B) that the insurer shall
not deny a claim and that such insurance cannot be unreasonably cancelled, invalidated or suspended on account of the conduct of
Lessee, its officers, directors, employees or agents, or anyone acting for Lessee or any subtenant or other occupant of the Properties;
and (C) that any losses otherwise payable thereunder shall be payable notwithstanding any act or omission of Lessor or Lessee which
might, absent such provision, result in a forfeiture of all or a part of such insurance payment;

 

(ii) be primary
and provide that any “other insurance” clause in the insurance policy shall exclude any policies of insurance maintained
by Lessor and the insurance policy shall not be brought into contribution with insurance maintained by Lessor;

 

(iii) contain
deductibles not to exceed $25,000;

 

(iv) contain
a standard non-contributory mortgagee clause or endorsement in favor of any Lender designated by Lessor;

 

(v) provide
that the policy of insurance shall not be terminated, cancelled or amended without at least thirty (30) days’ prior
written notice to Lessor and to any Lender covered by any standard mortgagee clause or endorsement;

 

(vi) provide
that the insurer shall not have the option to restore the Properties if Lessor elects to terminate this Lease in accordance with
the terms hereof;

 

(vii) be in
amounts sufficient at all times to satisfy any coinsurance requirements thereof;

 

(viii) except
for workers’ compensation insurance referred to in Section 6.03(a)(iii) above, name Lessor and any Lessor Affiliate
or Lender requested by Lessor, as an “additional insured” with respect to liability insurance, and as an “additional
named insured” or “additional insured” with respect to real property and rental value insurance, as appropriate
and as their interests may appear;

 

(ix) be evidenced
by delivery to Lessor and any Lender designated by Lessor of an Acord Form 28 for property, business interruption and boiler &
machinery coverage (or any other form requested by Lessor) and an Acord Form 25 for commercial general liability, workers’
compensation and umbrella coverage (or any other form requested by Lessor); provided that in the event that either such form is
no longer available, such evidence of insurance shall be in a form reasonably satisfactory to Lessor and any Lender designated
by Lessor; and

 

(x) be issued
by insurance companies licensed to do business in the states where the Properties are located and which are rated no less than
A-X by Best’s Insurance Guide or are otherwise approved by Lessor.

 

(c) Additional
Obligations. It is expressly understood and agreed that (i) if any insurance required hereunder, or any part thereof, shall
expire, be withdrawn, become void by breach of any condition thereof by Lessee, or become void or in jeopardy by reason of the
failure or impairment of the capital of any insurer, Lessee shall immediately obtain new or additional insurance reasonably satisfactory
to Lessor and any Lender designated by Lessor; (ii) the minimum limits of insurance coverage set forth in this Section 6.03 shall
not limit the liability of Lessee for its acts or omissions as provided in this Lease; (iii) Lessee shall procure policies for
all insurance for periods of not less than one year and shall provide to Lessor and any servicer or Lender of Lessor certificates
of insurance or, upon Lessor’s request, duplicate originals of insurance policies evidencing that insurance satisfying the
requirements of this Lease is in effect at all times; (iv) Lessee shall pay as they become due all premiums for the insurance required
by this Section 6.03; and (v) in the event that Lessee fails to comply with any of the requirements set forth in this Section 6.03,
within ten (10) days of the giving of written notice by Lessor to Lessee, (A) Lessor shall be entitled to procure such insurance;
and (B) any sums expended by Lessor in procuring such insurance shall be Additional Rental and shall be repaid by Lessee, together
with interest thereon at the Default Rate, from the time of payment by Lessor until fully paid by Lessee immediately upon written
demand therefor by Lessor.

 

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(d) Blanket
Policies. Notwithstanding anything to the contrary in this Section 6.03, any insurance which Lessee is required to obtain
pursuant to this Section 6.03 may be carried under a “blanket” policy or policies covering other properties or liabilities
of Lessee provided that such “blanket” policy or policies otherwise comply with the provisions of this Section 6.03.

 

(e) Insurance
During Construction. Prior to a Property undergoing renovations, alterations, repairs or buildouts, Lessee shall cause
the general contractor (or contractors) to provide a written indemnity agreement and certificates of insurance evidencing at least
$2,000,000 per occurrence and $2,000,000 aggregate limit of liability insurance with additional insured coverage in favor of Lessor.

 

Section 6.04. Tax
and Insurance Impound. Upon the occurrence of an Event of Default and with respect to each Event of Default, in addition to
any other remedies, Lessor may require Lessee to pay to Lessor on the first day of each month the amount that Lessor reasonably
estimates will be necessary in order to accumulate with Lessor sufficient funds in an impound account (which shall not be deemed
a trust fund) (the “Reserve”) for Lessor to pay any and all real estate taxes (“Real Estate Taxes”)
and insurance premiums (“Insurance Premiums”) for the Properties for the ensuing twelve (12) months, or, if
due sooner, Lessee shall pay the required amount immediately upon Lessor’s demand therefor. Lessor shall, upon prior written
request of Lessee, provide Lessee with evidence reasonably satisfactory to Lessee that payment of the Real Estate Taxes and Insurance
Premiums was made in a timely fashion. In the event that the Reserve does not contain sufficient funds to timely pay any Real Estate
Taxes or Insurance Premiums, upon Lessor’s written notification thereof, Lessee shall, within five (5) Business Days of such
notice, provide funds to Lessor in the amount of such deficiency. Lessor shall pay or cause to be paid directly to the applicable
taxing authorities and insurance company, as the case may be, any Real Estate Taxes and Insurance Premiums then due and payable
for which there are funds in the Reserve; provided, however, that in no event shall Lessor be obligated to pay any Real
Estate Taxes or Insurance Premiums in excess of the funds held in the Reserve, and Lessee shall remain liable for any and all Real
Estate Taxes, including fines, penalties, interest or additional costs imposed by any taxing authority (unless incurred as a result
of Lessor’s failure to timely pay Real Estate Taxes for which it had funds in the Reserve) and Insurance Premiums. Lessee
shall cooperate fully with Lessor in assuring that the Real Estate Taxes and Insurance Premiums are timely paid. Lessor may deposit
all Reserve funds in accounts insured by any federal or state agency and may commingle such funds with other funds and accounts
of Lessor. Interest or other gains from such funds, if any, shall be the sole property of Lessor. Upon an Event of Default, in
addition to any other remedies, Lessor may apply all impounded funds in the Reserve against any sums due from Lessee to Lessor.
Lessor shall give to Lessee an annual accounting showing all credits and debits to and from such impounded funds received from
Lessee.

 

ARTICLE
VII

MAINTENANCE; ALTERATIONS

 

Section 7.01. Condition
of Property; Maintenance. Lessee hereby accepts the Properties “AS IS” and “WHERE IS” with no representation
or warranty of Lessor as to the condition thereof. Lessee shall, at its sole cost and expense, be responsible for (a) keeping
all of the building, structures and improvements erected on each of the Properties in good order and repair, free from actual or
constructive waste, including without limitation, the roof and the HVAC and other electrical and mechanical systems; (b) the
repair or reconstruction of any building, structures or improvements erected on the Properties damaged or destroyed by a Casualty;
(c) subject to Section 7.02, making all necessary structural, non-structural, exterior and interior repairs and replacements
to any building, structures or improvements erected on the Properties; (d) operating, remodeling, updating and modernizing
the Properties in accordance with those standards adopted from time to time on a system-wide basis for the Permitted Facilities;
and (e) paying all operating costs of the Properties in the ordinary course of business. Lessee waives any right to require
Lessor to maintain, repair or rebuild all or any part of the Properties or make repairs at the expense of Lessor pursuant to any
Legal Requirements at any time in effect.

 

Section 7.02. Alterations
and Improvements. During the Initial Term and any Renewal Term, Lessee shall not alter the exterior, structural, plumbing or
electrical elements of the Properties in any manner without the consent of Lessor, which consent shall not be unreasonably withheld
or conditioned; provided, however, Lessee may undertake nonstructural alterations to the Properties, individually, costing
less than $25,000 without Lessor’s prior written consent. If Lessor’s consent is required hereunder and Lessor consents
to the making of any such alterations, the same shall be made by Lessee at Lessee’s sole expense by a licensed contractor
and according to plans and specifications approved by Lessor and subject to such other conditions as Lessor shall reasonably require.
Any work at any time commenced by Lessee on the Properties shall be prosecuted diligently to completion, shall be of good workmanship
and materials and shall comply fully with all the terms of this Lease and all Legal Requirements. Upon completion of any alterations
individually costing $25,000 or more, Lessee shall promptly provide Lessor with evidence of full payment to all laborers and materialmen
contributing to the alterations. Additionally, upon completion of any alterations, Lessee shall promptly provide Lessor with (a) an
architect’s certificate certifying the alterations to have been completed in conformity with the plans and specifications
(if the alterations are of such a nature as would require the issuance of such a certificate from the architect); (b) a certificate
of occupancy (if the alterations are of such a nature as would require the issuance of a certificate of occupancy); and (c) any
other documents or information reasonably requested by Lessor. Lessee shall keep the Properties free from any liens arising out
of any work performed on, or materials furnished to, the Properties. Lessee shall execute and file or record, as appropriate, a
 “Notice of Non-Responsibility,” or any equivalent notice permitted under applicable law in the states where the Properties
are located which provides that Lessor is not responsible for the payment of any costs or expenses relating to the additions or
alterations. Any addition to or alteration of the Properties shall be deemed a part of the Properties and belong to Lessor, and
Lessee shall execute and deliver to Lessor such instruments as Lessor may require to evidence the ownership by Lessor of such addition
or alteration.

 

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Section 7.03. Encumbrances.
During the Lease Term, Lessor shall have the right to grant easements on, over, under and above the Properties without the prior
consent of Lessee, provided that such easements will not materially interfere with Lessee’s use of the Properties. Lessee
shall comply with and perform all obligations of Lessor under all easements, declarations, covenants, restrictions and other items
of record now or hereafter encumbering the Properties. Without Lessor’s prior written consent, Lessee shall not grant any
easements on, over, under or above the Properties.

 

ARTICLE
VIII

Use of the Properties; Compliance

 

Section 8.01. Use.
During the Initial Term and any Renewal Term, except for the Permitted Subleases (defined and described in Section 14.05 below),
each of the Properties shall be used solely for the operation of a Permitted Facility. Except during periods when a Property is
untenantable due to Casualty or Condemnation (and provided that Lessee continues to strictly comply with the other terms and conditions
of this Lease), Lessee shall at all times during the Initial Term and any Renewal Term occupy the Properties and shall diligently
operate its business on the Properties.

 

Section 8.02. Alternative
Use. Except for the Permitted Subleases, Lessee shall not, by itself or through any assignment, sublease or other type of transfer,
convert any of the Properties to an alternative use during the Lease Term without Lessor’s prior written consent. In the
event that Lessee shall change the use of the Properties or the concept or brand operated on the Properties, only as may be expressly
permitted herein or consented to by Lessor in writing, Lessee shall provide Lessor with written notice of any such change and copies
of the franchise agreement(s) related to such new concept or brand, if any.

  

Section 8.03. Compliance.
Lessee’s use and occupation of each of the Properties, and the condition thereof, shall, at Lessee’s sole cost and
expense, comply fully with all Legal Requirements and all restrictions, covenants and encumbrances of record, and any owner obligations
under such Legal Requirements, or restrictions, covenants and encumbrances of record, with respect to the Properties, in either
event, the failure with which to comply could have a Material Adverse Effect. Without in any way limiting the foregoing provisions,
Lessee shall comply with all Legal Requirements relating to anti-terrorism, trade embargos, economic sanctions, Anti-Money Laundering
Laws, and the Americans with Disabilities Act of 1990, as such act may be amended from time to time, and all regulations promulgated
thereunder, as it affects the Properties now or hereafter in effect. Upon Lessor’s written request from time to time during
the Initial Term and any Renewal Term, Lessee shall certify in writing to Lessor that Lessee’s representations, warranties
and obligations under Section 5.08 and this Section 8.03 remain true and correct and have not been breached. Lessee shall
immediately notify Lessor in writing if any of such representations, warranties or covenants are no longer true or have been breached
or if Lessee has a reasonable basis to believe that they may no longer be true or have been breached. In connection with such an
event, Lessee shall comply with all Legal Requirements and directives of Governmental Authorities and, at Lessor’s request,
provide to Lessor copies of all notices, reports and other communications exchanged with, or received from, Governmental Authorities
relating to such an event. Lessee shall also reimburse Lessor for all Costs incurred by Lessor in evaluating the effect of such
an event on the Properties and this Lease, in obtaining any necessary license from Governmental Authorities as may be necessary
for Lessor to enforce its rights under the Transaction Documents, and in complying with all Legal Requirements applicable to Lessor
as the result of the existence of such an event and for any penalties or fines imposed upon Lessor as a result thereof. Lessee
will use its best efforts to prevent any act or condition to exist on or about the Properties which will materially increase any
insurance rate thereon, except when such acts are required in the normal course of its business and Lessee shall pay for such increase.
Lessee agrees that it will defend, indemnify and hold harmless the Indemnified Parties from and against any and all Losses caused
by, incurred or resulting from Lessee’s failure to comply with its obligations under this Section.

 

Section 8.04. Environmental.

 

(a) Representations
and Warranties. Lessee represents and warrants to Lessor, which representations and warranties shall survive the execution
and delivery of this Lease, as follows:

 

(i) The Properties
and Lessee are not in violation of or subject to, any pending or, to Lessee’s actual knowledge, threatened investigation
or inquiry by any Governmental Authority or to any remedial obligations under any Environmental Laws that could have a Material
Adverse Effect, nor has Lessee received any written or oral notice or other communication from any Person (including but not limited
to a Governmental Authority) with respect to any Property relating to (A) Hazardous Materials, Regulated Substances or USTs,
or Remediation thereof; (B) possible liability of any Person pursuant to any Environmental Law; (C) other environmental
conditions; or (D) any actual or potential administrative or judicial proceedings in connection with any of the foregoing
that could have a Material Adverse Effect. The foregoing representations and warranties would continue to be true and correct following
disclosure to the applicable Governmental Authorities of all relevant facts, conditions and circumstances, if any, pertaining to
the Properties.

 

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(ii) (A) All
uses and operations on or of the Properties, whether by Lessee or, to Lessee’s knowledge, any other Person, have been in
compliance with all Environmental Laws and environmental permits issued pursuant thereto; (B) there have been no Releases
in, on, under or from any of the Properties, or, to Lessee’s knowledge, from other property migrating toward any of the Properties,
except in Permitted Amounts; (C) there are no Hazardous Materials, Regulated Substances or USTs in, on, or under any of the
Properties, except in Permitted Amounts; (D) the Properties have been kept free and clear of all liens and other encumbrances
imposed pursuant to any Environmental Law (the “Environmental Liens”) or activity use limitations; and (E) Lessee
has not allowed any other tenant or other user of the Properties to do any act that materially increased the dangers to human health
or the environment, posed an unreasonable risk of harm to any Person (whether on or off any of the Properties), impaired the value
of any of the Properties in any material respect, is contrary to any requirement set forth in the insurance policies maintained
by Lessor, constituted a public or private nuisance, constituted waste, or violated any covenant, condition, agreement or easement
applicable to any of the Properties.

 

(b) Covenants.

 

(i) Lessee
covenants to Lessor during the Lease Term, subject to the limitations of subsection (ii) below, as follows:

 

(A) The Properties
and Lessee shall not be (1) in violation of any Remediation required by any Governmental Authority, or (2) subject to
any Remediation obligations under any Environmental Laws. Lessee shall not be in violation of any investigation or inquiry by any
Governmental Authority.

 

(B) All uses
and operations on or of the Properties, whether by Lessee or any other Person, shall be in compliance with all Environmental Laws
and permits issued pursuant thereto.

 

(C) There
shall be no Releases in, on, under or from the Properties, except in Permitted Amounts.

 

(D) There
shall be no Hazardous Materials or Regulated Substances in, on or under the Properties, except in Permitted Amounts. Above and
below ground storage tanks shall be properly permitted and only used as permitted.

 

(E) Lessee
shall keep the Properties or cause the Properties to be kept free and clear of all Environmental Liens, whether due to any act
or omission of Lessee or any other Person.

 

(F) Lessee
shall not act or fail to act or allow any other tenant, occupant, guest, customer or other user of the Properties to act or fail
to act in any way that (1) materially increases a risk to human health or the environment, (2)  poses an unreasonable
or unacceptable risk of harm to any Person or the environment (whether on or off any of the Properties), (3) has a Material Adverse
Effect, (4) is contrary to any material requirement set forth in the insurance policies maintained by Lessee, (5) constitutes
a public or private nuisance or constitutes waste, (6) violates any covenant, condition, agreement or easement applicable
to the Properties, or (7) would result in any reopening or reconsideration of any prior investigation or causes a new investigation
by a Governmental Authority having jurisdiction over any Property.

  

(G) Lessee
shall, at its sole cost and expense, perform any environmental site assessment or other investigation of environmental conditions
in connection with the Properties as may be reasonably requested by Lessor (including but not limited to sampling, testing and
analysis of soil, water, air, building materials and other materials and substances whether solid, liquid or gas), and share with
Lessor the reports and other results thereof, and Lessor and the other Indemnified Parties shall be entitled to rely on such reports
and other results thereof.

 

(H) Lessee
shall, at its sole cost and expense, fully and expeditiously cooperate in all activities pursuant to this Section 8.04, including
but not limited to providing all relevant information and making knowledgeable persons available for interviews.

 

(ii) Notwithstanding
any provision of this Lease to the contrary, an Event of Default shall not be deemed to have occurred as a result of the failure
of Lessee to satisfy any one or more of the covenants set forth in subsections (A) through (F) above provided that Lessee
shall be in compliance with the requirements of any Governmental Authority with respect to the Remediation of any Release at the
Properties.

  

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(c) Notification
Requirements. Lessee shall immediately notify Lessor in writing upon Lessee obtaining actual knowledge of (i) any
Releases or Threatened Releases in, on, under or from any of the Properties other than in Permitted Amounts, or migrating towards
any of the Properties; (ii) any non-compliance with any Environmental Laws related in any way to any of the Properties; (iii) any
actual or potential Environmental Lien or activity use limitation; (iv) any required or proposed Remediation of environmental
conditions relating to any of the Properties required by applicable Governmental Authorities; and (v) any written or oral
notice or other communication of which Lessee becomes aware from any source whatsoever (including but not limited to a Governmental
Authority) relating in any way to Hazardous Materials, Regulated Substances or above or below ground storage tanks, or Remediation
thereof at or on any of the Properties, other than in Permitted Amounts, possible liability of any Person relating to any of the
Properties pursuant to any Environmental Law, other environmental conditions in connection with any of the Properties, or any actual
or potential administrative or judicial proceedings in connection with anything referred to in this Section. Lessee shall, upon
Lessor’s written request, deliver to Lessor a certificate stating that Lessee is and has been in full compliance with all
of the environmental representations, warranties and covenants in this Lease.

 

(d) Remediation.
Lessee shall, at its sole cost and expense, and without limiting any other provision of this Lease, effectuate any Remediation
required by any Governmental Authority of any condition (including, but not limited to, a Release or Threatened Release) in, on,
under or from the Properties and take any other reasonable action deemed necessary by any Governmental Authority for protection
of human health or the environment with respect to any matter which arises or accrues prior to the later of (i) the expiration
or sooner termination of the Lease Term (including any Renewal Terms), or (ii) the date that Lessee vacates the Properties.
Should Lessee fail to undertake any required Remediation in accordance with the preceding sentence, Lessor, after written notice
to Lessee and Lessee’s failure to immediately undertake such Remediation, shall be permitted to complete such Remediation,
and all Costs incurred in connection therewith shall be paid by Lessee. Any Cost so paid by Lessor, together with interest at the
Default Rate, shall be deemed to be Additional Rental hereunder and shall be immediately due from Lessee to Lessor.

 

(e) Indemnification.
Lessee shall, at its sole cost and expense, protect, defend, indemnify, release and hold harmless each of the Indemnified Parties
from and against any and all Losses, including, but not limited to, all Costs of Remediation (whether or not performed voluntarily,
arising out of or in any way relating to any Environmental Laws, Hazardous Materials, Regulated Substances, above or below ground
storage tanks, or other environmental matters concerning the Properties which arise or accrue prior to the later of (i) the
expiration or sooner termination of the Lease Term (including any Renewal Terms), or (ii) the date that Lessee vacates the
Properties. It is expressly understood and agreed that Lessee’s obligations under this Section shall survive the expiration
or earlier termination of this Lease for any reason.

 

(f) Right
of Entry. Lessor and any other Person designated by Lessor, including but not limited to, any receiver, any representative
of a Governmental Authority, and any environmental consultant, shall have the right, but not the obligation, to enter upon the
Properties at all reasonable times (including, without limitation, in connection with the exercise of any remedies set forth in
this Lease) to assess any and all aspects of the environmental condition of any Property and its use, including but not limited
to conducting any environmental assessment or audit (the scope of which shall be determined in Lessor’s sole and absolute
discretion) and taking samples of soil, groundwater or other water, air, or building materials, and conducting other invasive testing.
Lessee shall cooperate with and provide access to Lessor and any other Person designated by Lessor. Any such assessment or investigation
shall be at Lessee’s sole cost and expense.

 

(g) Inspections.
At its sole cost and expense, Lessee shall have the Properties inspected as may be required by any Environmental Law for seepage,
spillage and other environmental concerns. Lessee shall maintain and monitor all above and below ground storage tanks in accordance
with all Environmental Laws. Lessee shall provide Lessor with written certified results of all inspections performed on the Properties.
All costs and expenses associated with the inspection, preparation and certification of results, as well as those associated with
any corrective action, shall be paid by Lessee. All inspections and tests performed on the Properties shall be in compliance with
all Environmental Laws.

 

(h) UST
Compliance. Lessee shall comply or cause the compliance with all applicable federal, state and local regulations and requirements
regarding above and below ground storage tanks, including, without limitation, any of such regulations or requirements which impose
(i) technical standards, including, without limitation, performance, leak prevention, leak detection, notification reporting
and recordkeeping; (ii) corrective action with respect to confirmed and suspected Releases; and (iii) financial responsibility
for the payment of costs of corrective action and compensation to third parties for injury and damage resulting from Releases.
Lessee shall immediately notify Lessor, in writing, of (A) the presence on or under the Properties, or the Release from any
above or below ground storage tank on, above or under the Properties, of any Hazardous Materials or Regulated Substances, apparent
or real; and (B) any and all enforcement, clean-up, remedial, removal or other governmental or regulatory actions threatened,
instituted or completed pursuant to any of the Environmental Laws affecting the Properties. Upon any such Release from any USTs
on, above or under the Properties of any Hazardous Materials or Regulated Substances, Lessee shall immediately remedy such situation
in accordance with all Environmental Laws and any request of Lessor. Should Lessee fail to remedy or cause the remedy of such situation
in accordance with all Environmental Laws, Lessor shall be permitted to take such actions in its sole discretion to remedy such
situation and all Costs incurred in connection therewith, together with interest at the Default Rate, will be paid by Lessee.

 

(i) Survival.
The obligations of Lessee and the rights and remedies of Lessor under this Section 8.04 shall survive the termination, expiration
and/or release of this Lease.

 

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ARTICLE
IX

additional COVENANTS

 

Section 9.01. Performance
at Lessee’s Expense. Lessee acknowledges and confirms that Lessor may impose reasonable administrative, processing or
servicing fees, and collect its reasonable attorneys’ fees, costs and expenses in connection with (a) any extension, renewal,
modification, amendment and termination of this Lease that is not pursuant to the existing terms and conditions of this Lease and
is being carried out upon Lessee’s request; (b) any release or substitution of Properties made at Lessee’s request;
(c) the procurement of consents, waivers and approvals with respect to the Properties or any matter related to this Lease; (d)
the review of any assignment or sublease or proposed assignment or sublease or the preparation or review of any subordination or
non-disturbance agreement; (e) the collection, maintenance and/or disbursement of reserves created under this Lease or the other
Transaction Documents; and (f) inspections required to make certain determinations under this Lease or the other Transaction Documents.

 

Section 9.02. Inspection.
Lessor and its authorized representatives shall have the right, at all reasonable times and upon giving reasonable prior notice
(except in the event of an emergency, in which case no prior notice shall be required), to enter the Properties or any part thereof
and inspect the same. Lessee hereby waives any claim for damages for any injury or inconvenience to or interference with Lessee’s
business, any loss of occupancy or quiet enjoyment of the Properties and any other loss occasioned by such entry, but, subject
to Section 10.01, excluding damages arising as a result of the negligence or intentional misconduct of Lessor.

 

Section 9.03. Financial
Information.

 

(a) Financial
Statements. Within forty five (45) days after the end of each fiscal quarter and within one hundred twenty (120) days
after the end of each fiscal year of Lessee and Lessee Entities, Lessee shall deliver to Lessor (i) complete consolidated
financial statements that consolidate Lessee and Lessee Entities, including a balance sheet, profit and loss statement, statement
of stockholders' equity and statement of cash flows and all other related schedules for the fiscal period then ended, such statements
to detail separately interest expense, income taxes, non-cash expenses, non-recurring expenses, operating lease expense and current
portion of long-term debt – capital leases; (ii) income statements for the business at each of the Properties; and (iii)
the supplemental financial information set forth on Schedule 9.03. All such financial statements shall be prepared in accordance
with GAAP, and shall be certified to be accurate and complete by an officer or director of each Lessee Entity. In the event that
Lessee’s business at the Properties is ordinarily consolidated with other business for financial statements purposes, a separate
profit and loss statement shall be provided showing separately the sales, profits and losses pertaining to each Property with interest
expense, income taxes, non-cash expenses, non-recurring expenses and operating lease expense (rent), with the basis for allocation
of overhead or other charges being clearly set forth in accordance with Schedule 9.03. The financial statements delivered to Lessor
need not be audited, but Lessee shall deliver to Lessor copies of any audited financial statements of the Lessee Entities which
may be prepared, as soon as they are available. Within thirty (30) days after the end of each fiscal year of Lessee, and upon prior
written request by Lessor, Lessee shall deliver such compliance certificate to Lessor as Lessor may reasonably require in order
to establish that Lessee is in compliance with all of its obligations, duties and covenants under this Lease.

 

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(b) Other
Information. Notwithstanding any provision contained herein, upon request at any time, Lessee will provide to Lessor any
and all financial information and/or financial statements of Lessee Entities (and in the form or forms) as reasonably requested
by Lessor including, but not limited to, as requested by Lessor in connection with Lessor's filings with or disclosures to any
Governmental Authority, including, without limitation, the financial statements required in connection with Securities and Exchange
Commission filings by Lessor or its Affiliates.

 

Section 9.04. OFAC
Laws. Upon receipt of notice or upon actual knowledge thereof, Lessee shall immediately notify Lessor in writing if any Person
owning (directly or indirectly) any interest in any of the Lessee Entities, or any director, officer, shareholder, member, manager
or partner of any of such holders is a Person whose property or interests are subject to being blocked under any of the OFAC Laws,
or is otherwise in violation of any of the OFAC Laws, or is under investigation by any Governmental Authority for, or has been
charged with, or convicted of, drug trafficking, terrorist-related activities or any violation of the Anti-Money Laundering Laws,
has been assessed civil penalties under these or related laws, or has had funds seized or forfeited in an action under these or
related laws; provided, however, that the covenant in this Section 9.04 shall not apply to any Person to the extent such
Person’s interest is in or through a U.S. Publicly Traded Entity.

 

Section 9.05. Estoppel
Certificate. At any time, and from time to time, Lessee shall, promptly and in no event later than ten (10) days after
a request from Lessor or any Lender or mortgagee of Lessor, execute, acknowledge and deliver to Lessor or such Lender or mortgagee,
as the case may be, a certificate in the form supplied by Lessor, certifying: (a) that Lessee has accepted the Properties;
(b) that this Lease is in full force and effect and has not been modified (or if modified, setting forth all modifications),
or, if this Lease is not in full force and effect, the certificate shall so specify the reasons therefor; (c) the commencement
and expiration dates of the Initial Term or any Renewal Term; (d) the date to which the Rentals have been paid under this
Lease and the amount thereof then payable; (e) whether there are then any existing defaults by Lessor in the performance of
its obligations under this Lease, and, if there are any such defaults, specifying the nature and extent thereof; (f) that
no notice has been received by Lessee of any default under this Lease which has not been cured, except as to defaults specified
in the certificate; (g) the capacity of the Person executing such certificate, and that such Person is duly authorized to
execute the same on behalf of Lessee; (h) that neither Lessor nor any Lender or mortgagee has actual involvement in the management
or control of decision making related to the operational aspects or the day-to-day operation of the Properties, including any handling
or disposal of Hazardous Materials or Regulated Substances; and (i) any other information reasonably requested by Lessor
or any Lender or mortgagee, as the case may be. If Lessee shall fail or refuse to sign a certificate in accordance with the provisions
of this Section within ten (10) days following a request by Lessor, Lessee irrevocably constitutes and appoints Lessor as
its attorney-in-fact to execute and deliver the certificate to any such third party, it being stipulated that such power of attorney
is coupled with an interest and is irrevocable and binding.

  

ARTICLE
X

RELEASE AND Indemnification

 

Section 10.01. Release
and Indemnification. Lessee agrees to use and occupy the Properties at its own risk and hereby releases Lessor and Lessor’s
agents and employees from all claims for any damage or injury to the full extent permitted by law (except to the extent such claims
for any damage or injury are caused by Lessor’s gross negligence or willful misconduct). Lessee agrees that Lessor shall
not be responsible or liable to Lessee or Lessee’s employees, agents, customers, licensees or invitees for bodily injury,
personal injury or property damage occasioned by the acts or omissions of any other lessee or any other Person. Lessee agrees that
any employee or agent to whom the Properties or any part thereof shall be entrusted by or on behalf of Lessee shall be acting as
Lessee’s agent with respect to the Properties or any part thereof, and neither Lessor nor Lessor’s agents, employees
or contractors shall be liable for any loss of or damage to the Properties or any part thereof, except to the extent caused by
Lessor’s gross negligence or willful misconduct. Lessee shall indemnify, protect, defend and hold harmless each of the Indemnified
Parties from and against any and all Losses (excluding Losses suffered by an Indemnified Party arising out of the gross negligence
or willful misconduct of such Indemnified Party; provided, however, that the term “gross negligence” shall not
include gross negligence imputed as a matter of law to any of the Indemnified Parties solely by reason of Lessor’s interest
in any Property or Lessor’s failure to act in respect of matters which are or were the obligation of Lessee under this Lease)
caused by, incurred or resulting from Lessee’s operations or by Lessee’s use and occupancy of the Properties, whether
relating to its original design or construction, latent defects, alteration, maintenance, use by Lessee or any Person thereon,
supervision or otherwise, or from any breach of, default under, or failure to perform, any term or provision of this Lease by Lessee,
its officers, employees, agents or other Persons. It is expressly understood and agreed that Lessee’s obligations under this
Section shall survive the expiration or earlier termination of this Lease for any reason whatsoever.

 

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ARTICLE
XI

Condemnation and Casualty

 

Section 11.01. Notification.
Lessee shall promptly give Lessor written notice of (a) any Condemnation of any of the Properties, (b) the commencement
of any proceedings or negotiations which might result in a Condemnation of any of the Properties, and (c) any Casualty to
any of the Properties or any part thereof. Such notice shall provide a general description of the nature and extent of such Condemnation,
proceedings, negotiations or Casualty, and shall include copies of any documents or notices received in connection therewith. Thereafter,
Lessee shall promptly send Lessor copies of all notices, correspondence and pleadings relating to any such Condemnation, proceedings,
negotiations or Casualty.

 

Section 11.02. Total
Condemnation. In the event of a Condemnation of all or substantially all of any Property, including a Condemnation (other than
a Temporary Taking) of any portion of the Property that materially and adversely affects Lessee’s ability to use the portion
of the Property remaining after such Condemnation as a Permitted Facility, as determined by Lessee in the exercise of good faith
business judgment (and Lessee provides to Lessor an officer’s certificate executed by an officer of Lessee certifying to
the same) (each such event, a “Total Condemnation”), then, in such event:

 

(a) Termination
of Lease. On the date of the Total Condemnation, all obligations of either party hereunder with respect to the applicable
Property shall cease and the Base Annual Rental shall be reduced as set forth in Section 11.03(e) below; provided, however,
that Lessee’s obligations to the Indemnified Parties under any indemnification provisions of this Lease with respect to such
Property and Lessee’s obligation to pay Rental and all other Monetary Obligations (whether payable to Lessor or a third party)
accruing under this Lease with respect to such Property prior to the date of termination shall survive such termination. If the
date of such Total Condemnation is other than the first day of a month, the Base Monthly Rental for the month in which such Total
Condemnation occurs shall be apportioned based on the date of the Total Condemnation.

 

(b) Net
Award. Lessor shall be entitled to receive the entire Net Award in connection with a Total Condemnation without deduction
for any estate vested in Lessee by this Lease, and Lessee hereby expressly assigns to Lessor all of its right, title and interest
in and to every such Net Award and agrees that Lessee shall not be entitled to any Net Award or other payment for the value of
Lessee’s leasehold interest in this Lease

 

Section 11.03. Partial
Condemnation or Casualty. In the event of a Condemnation which is not a Total Condemnation (each such event, a “Partial
Condemnation”), or in the event of a Casualty:

 

(a) Net
Awards. All Net Awards shall be paid to Lessor.

 

(b) Lessor
Election To Continue or Terminate Lease. Lessor shall have the sole, absolute and exclusive option, (i) subject to the
right of Lessee to elect otherwise as set forth in subsection (c) below, to terminate this Lease with respect to the applicable
Property affected, by notifying Lessee in writing within thirty (30) days after Lessee gives Lessor notice (A) of such Partial
Condemnation or Casualty, or (B) that title has vested in the condemning authority; or (ii) to continue this Lease in effect,
which election shall be evidenced by either a notice from Lessor to Lessee, or Lessor’s failure to notify Lessee in writing
that Lessor has elected to terminate this Lease with respect to such Property within such thirty (30)-day period. Lessee shall
have a period of sixty (60) days after receipt of Lessor’s notice to terminate referenced above during which to elect, despite
such Lessor notice of termination, to continue this Lease with respect to such Property on the terms herein provided.

 

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(c) Continuance
of Lease. If Lessor elects not to terminate this Lease, or if Lessor elects to terminate this Lease with respect to such
Property but Lessee elects to continue this Lease with respect to such Property, then this Lease shall continue in full force and
effect upon the following terms:

 

(i) All Rental
and other Monetary Obligations due under this Lease shall continue unabated.

 

(ii) Lessee
shall promptly commence and diligently prosecute restoration of such Property to the same condition, as nearly as practicable,
as prior to such Partial Condemnation or Casualty as approved by Lessor. Subject to the terms and provisions of the Mortgages and
upon the written request of Lessee (accompanied by evidence reasonably satisfactory to Lessor that such amount has been paid or
is due and payable and is properly part of such costs, and that Lessee has complied with the terms of Section 7.02 in connection
with the restoration), Lessor shall promptly make available in installments, subject to reasonable conditions for disbursement
imposed by Lessor, an amount up to but not exceeding the amount of any Net Award received by Lessor with respect to such Partial
Condemnation or Casualty. Prior to the disbursement of any portion of the Net Award with respect to a Casualty, Lessee shall provide
evidence reasonably satisfactory to Lessor of the payment of restoration expenses by Lessee up to the amount of the insurance deductible
applicable to such Casualty. Lessor shall be entitled to keep any portion of the Net Award which may be in excess of the cost of
restoration, and Lessee shall bear all additional Costs of such restoration in excess of the Net Award.

 

(d) No
Continuance of Lease. If Lessor elects to terminate this Lease pursuant to Subsection (b) above and if Lessee does not
elect to continue this Lease with respect to such Property or shall fail during such sixty (60) day period to notify Lessor of
Lessee’s intent to continue this Lease with respect to such Property, then this Lease shall terminate with respect to such
Property as of the last day of the month during which such sixty (60) day period expired. Lessee shall vacate and surrender such
Property by such termination date, in accordance with the provisions of this Lease, and on the termination date, all obligations
of either party hereunder with respect to such Property shall cease and the Base Annual Rental shall be reduced as set forth in
Section 11.03(e) below; provided, however, Lessee’s obligations to the Indemnified Parties under any indemnification
provisions of this Lease with respect to such Property and Lessee’s obligations to pay Rental and all other Monetary Obligations
(whether payable to Lessor or a third party) accruing under this Lease with respect to such Property prior to the date of termination
shall survive such termination. In such event, Lessor may retain all Net Awards related to the Partial Condemnation or Casualty,
and Lessee shall immediately pay Lessor an amount equal to the insurance deductible applicable to any Casualty.

  

(e) Rental.
Upon removal of a Property pursuant to Section 11.02 or Section 11.03, the Base Annual Rental shall be reduced by an amount equal
to the Lease Rate multiplied by the Net Award.

  

Section 11.04. Temporary
Taking. In the event of a Condemnation of all or any part of any Property for a temporary use (a “Temporary Taking”),
this Lease shall remain in full force and effect without any reduction of Base Annual Rental, Additional Rental or any other Monetary
Obligation payable hereunder. Except as provided below and subject to the terms and provisions of the Mortgages, Lessee shall be
entitled to the entire Net Award for a Temporary Taking, unless the period of occupation and use by the condemning authorities
shall extend beyond the date of expiration of this Lease, in which event the Net Award made for such Temporary Taking shall be
apportioned between Lessor and Lessee as of the date of such expiration. At the termination of any such Temporary Taking, Lessee
will, at its own cost and expense and pursuant to the provisions of Section 7.02, promptly commence and complete restoration of
such Property.

 

Section 11.05. Adjustment
of Losses. Any loss under any property damage insurance required to be maintained by Lessee shall be adjusted by Lessor and
Lessee. Subject to the terms and provisions of the Mortgages, any Net Award relating to a Total Condemnation or a Partial Condemnation
shall be adjusted by Lessor or, at Lessor’s election, Lessee. Notwithstanding the foregoing or any other provisions of this
Section 11.05 to the contrary, but subject to the terms and provisions of the Mortgages, if at the time of any Condemnation or
any Casualty or at any time thereafter an Event of Default shall have occurred and be continuing, Lessor is hereby authorized and
empowered but shall not be obligated, in the name and on behalf of Lessee and otherwise, to file and prosecute Lessee’s claim,
if any, for a Net Award on account of such Condemnation or such Casualty and to collect such Net Award and apply the same to the
curing of such Event of Default and any other then existing Event of Default under this Lease and/or to the payment of any amounts
owed by Lessee to Lessor under this Lease, in such order, priority and proportions as Lessor in its discretion shall deem proper.

 

Section 11.06. Lessee
Obligation in Event of Casualty. During all periods of time following a Casualty, Lessee shall take reasonable steps to ensure
that the related Property is secure and does not pose any risk of harm to any adjoining property and Persons (including owners
or occupants of such adjoining property).

  

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Section 11.07. Lessee
Awards and Payments. Notwithstanding any provision contained in this Article XI, Lessee shall be entitled to claim and receive
any award or payment from the condemning authority expressly granted for the taking of any personal property owned by Lessee, any
insurance proceeds with respect to any personal property owned by Lessee, the interruption of its business and moving expenses
(subject, however, to the provisions of Section 6.03(a)(iv) above), but only if such claim or award does not adversely affect
or interfere with the prosecution of Lessor’s claim for the Condemnation or Casualty, or otherwise reduce the amount recoverable
by Lessor for the Condemnation or Casualty.

 

ARTICLE
XII

Default, Conditional Limitations,

Remedies and Measure of Damages

 

Section 12.01. Event
of Default. Each of the following shall be an event of default by Lessee under this Lease (each, an “Event of Default”):

 

(a) if any
representation or warranty of Lessee set forth in this Lease is false in any material respect when made, or if Lessee renders any
false statement or account when made;

 

(b) if any
Rental or other Monetary Obligation due under this Lease is not paid when due and such failure continues for more than five (5)
days after written notice from Lessor; provided, however, Lessor shall only be required to provide such notice and cure
period twice in any twelve (12) month period; and further provided, however, that in the event that Lessee pays Rental by
Automated Clearing House transfer pursuant to Section 4.05 above, any delay in the payment of Rental as a result of a technical
error in the Automated Clearing House transfer process caused by Lessor’s bank or servicer shall not constitute an Event
of Default hereunder;

 

(c) if Lessee
fails to pay, prior to delinquency, any taxes, assessments or other charges the failure of which to pay will result in the imposition
of a lien against any of the Properties;

 

(d) if there
is an Insolvency Event affecting Lessee or any Guarantor;

 

(e) if Lessee
vacates or abandons any Property;

 

(f) if Lessee
fails to observe or perform any of the other covenants, conditions or obligations of Lessee in this Lease that are not addressed
in the other subsections of this Section 12.01 and such failure continues for more than ten (10) days after written notice from
Lessor; provided, however, if any such failure does not involve the payment of any Monetary Obligation, is not willful or
intentional, does not place any Property or any rights or property of Lessor in immediate jeopardy, and is within the reasonable
power of Lessee to promptly cure, all as determined by Lessor in its reasonable discretion, then such failure shall not constitute
an Event of Default hereunder, unless otherwise expressly provided herein, unless and until Lessor shall have given Lessee notice
thereof and a period of thirty (30) days shall have elapsed, during which period Lessee may correct or cure such failure, upon
failure of which an Event of Default shall be deemed to have occurred hereunder without further notice or demand of any kind being
required. If such failure cannot reasonably be cured within such thirty (30)-day period, as determined by Lessor in its reasonable
discretion, and Lessee is diligently pursuing a cure of such failure, then Lessee shall have a reasonable period to cure such failure
beyond such thirty (30)-day period, which shall in no event exceed ninety (90) days after receiving notice of such failure from
Lessor. If Lessee shall fail to correct or cure such failure within such ninety (90)-day period, an Event of Default shall be deemed
to have occurred hereunder without further notice or demand of any kind being required;

 

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(g) if a
final, nonappealable judgment is rendered by a court against Lessee which has a Material Adverse Effect;

 

(h) if Lessee
shall be liquidated or dissolved or shall begin proceedings towards its liquidation or dissolution;

 

(i) if the
estate or interest of Lessee in any of the Properties shall be levied upon or attached in any proceeding and such estate or interest
is about to be sold or transferred or such process shall not be vacated or discharged within ninety (90) days after it is made;
or

 

(j) if there
is an “Event of Default” or other breach or default by Lessee or Guarantor under any of the other Transaction Documents
or any Other Agreement, after the passage of all applicable notice and cure or grace periods; provided, however, in the
event that this Lease has been the subject of a Securitization and any Other Agreement has not been the subject of the same Securitization
or any series relating to such Securitization, an “Event of Default” under such Other Agreement shall not constitute
an Event of Default under this Lease.

 

Section 12.02. Remedies.
Upon the occurrence of an Event of Default, with or without notice or demand, except as otherwise expressly provided herein or
such other notice as may be required by statute and cannot be waived by Lessee, Lessor shall be entitled to exercise, at its option,
concurrently, successively, or in any combination, all remedies available at law or in equity, including, without limitation, any
one or more of the following:

 

(a) to terminate
this Lease, whereupon Lessee’s right to possession of the Properties shall cease and this Lease, except as to Lessee’s
liability, shall be terminated;

 

(b) to the
extent not prohibited by applicable law, to (i) re-enter and take possession of the Properties (or any part thereof), any or all
personal property or fixtures of Lessee upon the Properties and, to the extent permissible, all permits and other rights or privileges
of Lessee pertaining to the use and operation of the Properties, and (ii) expel Lessee and those claiming under or through Lessee,
without being deemed guilty in any manner of trespass or becoming liable for any loss or damage resulting therefrom, without resort
to legal or judicial process, procedure or action. No notice from Lessor hereunder or under a forcible entry and detainer statute
or similar law shall constitute an election by Lessor to terminate this Lease unless such notice specifically so states. If Lessee
shall, after default, voluntarily give up possession of the Properties to Lessor, deliver to Lessor or its agents the keys to the
Properties, or both, such actions shall be deemed to be in compliance with Lessor’s rights and the acceptance thereof by
Lessor or its agents shall not be deemed to constitute a termination of the Lease. Lessor reserves the right following any re-entry
and/or reletting to exercise its right to terminate this Lease by giving Lessee written notice thereof, in which event this Lease
will terminate;

 

(c) to bring
an action against Lessee for any damages sustained by Lessor or any equitable relief available to Lessor and to the extent not
prohibited by applicable law, to seize all personal property or fixtures upon the Properties which Lessee owns or in which it has
an interest, in which Lessor shall have a landlord’s lien and/or security interest, and to dispose thereof in accordance
with the laws prevailing at the time and place of such seizure or to remove all or any portion of such property and cause the same
to be stored in a public warehouse or elsewhere at Lessee’s sole expense, without becoming liable for any loss or damage
resulting therefrom and without resorting to legal or judicial process, procedure or action;

 

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(d) to relet
the Properties or any part thereof for such term or terms (including a term which extends beyond the original Lease Term), at such
rentals and upon such other terms as Lessor, in its sole discretion, may determine, with all proceeds received from such reletting
being applied to the Rental and other Monetary Obligations due from Lessee in such order as Lessor may, in its sole discretion,
determine, which other Monetary Obligations include, without limitation, all repossession costs, brokerage commissions, attorneys’
fees and expenses, alteration, remodeling and repair costs and expenses of preparing for such reletting. Except to the extent required
by applicable Law, Lessor shall have no obligation to relet the Properties or any part thereof and shall in no event be liable
for refusal or failure to relet the Properties or any part thereof, or, in the event of any such reletting, for refusal or failure
to collect any rent due upon such reletting, and no such refusal or failure shall operate to relieve Lessee of any liability under
this Lease or otherwise to affect any such liability. Lessor reserves the right following any re-entry and/or reletting to exercise
its right to terminate this Lease by giving Lessee written notice thereof, in which event this Lease will terminate as specified
in said notice;

 

(e) to accelerate
and recover from Lessee all Rental and other Monetary Obligations due and owing and scheduled to become due and owing under this
Lease both before and after the date of such breach for the entire original scheduled Lease Term;

 

(f) to recover
from Lessee all Costs paid or incurred by Lessor as a result of such breach, regardless of whether or not legal proceedings are
actually commenced;

 

(g) to immediately
or at any time thereafter, and with or without notice, at Lessor’s sole option but without any obligation to do so, correct
such breach or default and charge Lessee all Costs incurred by Lessor therein. Any sum or sums so paid by Lessor, together with
interest at the Default Rate, shall be deemed to be Additional Rental hereunder and shall be immediately due from Lessee to Lessor.
Any such acts by Lessor in correcting Lessee’s breaches or defaults hereunder shall not be deemed to cure said breaches or
defaults or constitute any waiver of Lessor’s right to exercise any or all remedies set forth herein;

 

(h) to immediately
or at any time thereafter, and with or without notice, except as required herein, set off any money of Lessee held by Lessor under
this Lease or any other Transaction Document or any Other Agreement against any sum owing by Lessee hereunder;

 

(i) Without
limiting the generality of the foregoing or limiting in any way the rights of Lessor under this Lease or otherwise under applicable
Laws, at any time after the occurrence, and during the continuance, of an Event of Default, Lessor shall be entitled to apply for
and have a receiver appointed under applicable Law by a court of competent jurisdiction (by ex parte motion for appointment without
notice) in any action taken by Lessor to enforce its rights and remedies hereunder in order to protect and preserve Lessor’s
interest under this Lease or in the Properties and the Personalty, and in connection therewith, LESSEE HEREBY IRREVOCABLY CONSENTS
TO AND WAIVES ANY RIGHT TO OBJECT TO OR OTHERWISE CONTEST THE APPOINTMENT OF A RECEIVER AFTER THE OCCURRENCE, AND DURING THE CONTINUANCE,
OF AN EVENT OF DEFAULT; and/or

  

(j) to seek
any equitable relief available to Lessor, including, without limitation, the right of specific performance.

 

Section 12.03. Cumulative
Remedies. All powers and remedies given by Section 12.02 to Lessor, subject to applicable Law, shall be cumulative and not
exclusive of one another or of any other right or remedy or of any other powers and remedies available to Lessor under this Lease,
by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements of Lessee contained
in this Lease, and no delay or omission of Lessor to exercise any right or power accruing upon the occurrence of any Event of Default
shall impair any other or subsequent Event of Default or impair any rights or remedies consequent thereto. Every power and remedy
given by this Section or by Law to Lessor may be exercised from time to time, and as often as may be deemed expedient, by Lessor,
subject at all times to Lessor’s right in its sole judgment to discontinue any work commenced by Lessor or change any course
of action undertaken by Lessor.

 

Section 12.04. Lessee
Waiver. Lessee hereby expressly waives, for itself and all Persons claiming by, through and under Lessee, including creditors
of all kinds, (a) any right and privilege which Lessee has under any present or future Legal Requirements to redeem the Properties
or to have a continuance of this Lease for the Lease Term after termination of Lessee’s right of occupancy by order or judgment
of any court or by any legal process or writ, or under the terms of this Lease; (b) the benefits of any present or future Legal
Requirement that exempts property from liability for debt or for distress for rent; (c) any present or future Legal Requirement
relating to notice or delay in levy of execution in case of eviction of a tenant for nonpayment of rent; and (d) any benefits and
lien rights which may arise pursuant to any present or future Legal Requirement.

 

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ARTICLE
XIII

Mortgage, Subordination and Attornment

 

Section 13.01. No
Liens. Lessor’s interest in this Lease and/or the Properties shall not be subordinate to any liens or encumbrances placed
upon the Properties by or resulting from any act of Lessee, and nothing herein contained shall be construed to require such subordination
by Lessor. NOTICE IS HEREBY GIVEN THAT LESSEE IS NOT AUTHORIZED TO PLACE OR ALLOW TO BE PLACED ANY LIEN, MORTGAGE, DEED OF TRUST,
DEED TO SECURE DEBT, SECURITY INTEREST OR ENCUMBRANCE OF ANY KIND UPON ALL OR ANY PART OF THE PROPERTIES OR LESSEE’S LEASEHOLD
INTEREST THEREIN, AND ANY SUCH PURPORTED TRANSACTION SHALL BE VOID.

 

Section 13.02. Subordination.
This Lease at all times shall automatically be subordinate to the lien of any and all ground leases and Mortgages now or hereafter
placed upon any of the Properties by Lessor, and Lessee covenants and agrees to execute and deliver, upon demand, such further
instruments subordinating this Lease to the lien of any or all such ground leases and Mortgages as shall be desired by Lessor,
or any present or proposed mortgagees under trust deeds, upon the condition that Lessee shall have the right to remain in possession
of the Properties under the terms of this Lease, notwithstanding any default in any or all such ground leases or Mortgages, or
after the foreclosure of any such Mortgages, so long as no Event of Default shall have occurred and be continuing. Upon Lessee’s
written request, Lessor agrees to use its commercially reasonable efforts to provide Lessee with a SNDA executed by each Lender
holding a Mortgage, and Lessee agrees to promptly execute and return such SNDA to Lessor.

 

Section 13.03. Election
To Declare Lease Superior. If any mortgagee, receiver or other secured party elects to have this Lease and the interest of
Lessee hereunder, be superior to any Mortgage and evidences such election by notice given to Lessee, then this Lease and the interest
of Lessee hereunder shall be deemed superior to any such Mortgage, whether this Lease was executed before or after such Mortgage
and in that event such mortgagee, receiver or other secured party shall have the same rights with respect to this Lease as if it
had been executed and delivered prior to the execution and delivery of such Mortgage and had been assigned to such mortgagee, receiver
or other secured party.

 

Section 13.04. Attornment.
In the event any purchaser or assignee of any Lender at a foreclosure sale acquires title to any of the Properties, or in the event
that any Lender or any purchaser or assignee otherwise succeeds to the rights of Lessor as landlord under this Lease, Lessee shall
attorn to Lender or such purchaser or assignee, as the case may be (a “Successor Lessor”), and recognize the
Successor Lessor as lessor under this Lease, and, subject to the provisions of this Article XIII, this Lease shall continue in
full force and effect as a direct lease between the Successor Lessor and Lessee, provided that the Successor Lessor shall only
be liable for any obligations of Lessor under this Lease which accrue after the date that such Successor Lessor acquires title.
The foregoing provision shall be self-operative and effective without the execution of any further instruments.

 

Section 13.05. Execution
of Additional Documents. Although the provisions in this Article XIII shall be self-operative and no future instrument
of subordination shall be required, upon request by Lessor Lessee shall execute and deliver whatever instruments may be reasonably
required for such purposes.

 

Section 13.06. Notice
to Lender. Lessee shall give written notice to any Lender having a recorded lien upon any of the Properties or any part thereof
of which Lessee has been notified of any breach or default by Lessor of any of its obligations under this Lease and give such Lender
at least sixty (60) days beyond any notice period to which Lessor might be entitled to cure such default before Lessee may
exercise any remedy with respect thereto.

 

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ARTICLE
XIV

Assignment

 

Section 14.01. Assignment
by Lessor. As a material inducement to Lessor’s willingness to enter into the transactions contemplated by this Lease
(the “Transaction”) and the other Transaction Documents, Lessee hereby agrees that Lessor may, from time to
time and at any time and without the consent of Lessee, engage in all or any combination of the following, or enter into agreements
in connection with any of the following or in accordance with requirements that may be imposed by applicable securities, tax or
other Laws: (a) the sale, assignment, grant, conveyance, transfer, financing, re-financing, purchase or re-acquisition of
all, less than all or any portion of the Properties, this Lease or any other Transaction Document, Lessor’s right, title
and interest in this Lease or any other Transaction Document, the servicing rights with respect to any of the foregoing, or participations
in any of the foregoing; or (b) a Securitization and related transactions. Without in any way limiting the foregoing, the
parties acknowledge and agree that Lessor, in its sole discretion, may assign this Lease or any interest herein to another Person
(including without limitation, a taxable REIT subsidiary) in order to maintain Lessor’s or any of its Affiliates’ status
as a REIT. In the event of any such sale or assignment other than a security assignment, Lessee shall attorn to such purchaser
or assignee (so long as Lessor and such purchaser or assignee notify Lessee in writing of such transfer and such purchaser or assignee
expressly assumes in writing the obligations of Lessor hereunder from and after the date of such assignment). At the request of
Lessor, Lessee will execute such documents confirming the sale, assignment or other transfer and such other agreements as Lessor
may reasonably request, provided that the same do not increase the liabilities and obligations of Lessee hereunder. Lessor shall
be relieved, from and after the date of such transfer or conveyance, of liability for the performance of any obligation of Lessor
contained herein, except for obligations or liabilities accrued prior to such assignment or sale.

 

Section 14.02. No
Assignment by Lessee.

 

(a) Lessee
acknowledges that Lessor has relied both on the business experience and creditworthiness of Lessee and upon the particular purposes
for which Lessee intends to use the Properties in entering into this Lease. Lessee shall not assign, transfer, convey, pledge or
mortgage this Lease or any interest herein or any interest in Lessee, whether by operation of law or otherwise, without the prior
written consent of Lessor. At the time of any assignment of this Lease which is approved by Lessor, the assignee shall assume all
of the obligations of Lessee under this Lease pursuant to a written assumption agreement in form and substance reasonably acceptable
to Lessor. Such assignment of the Properties or this Lease pursuant to this Section 14.02 shall not relieve Lessee of its
obligations respecting this Lease unless otherwise agreed to by Lessor. Any assignment, transfer, conveyance, pledge or mortgage
in violation of this Section 14.02 shall be voidable at the sole option of Lessor. Any consent to an assignment given by Lessor
hereunder shall not be deemed a consent to any subsequent assignment.

 

(b) Notwithstanding
anything to the contrary contained in Section 14.02(a) and provided that no Event of Default has occurred and is continuing at
the time of the proposed assignment or other transfer, and provided further that any assignee agrees to assume all of Lessee’s
obligations under this Lease by written agreement approved by Lessor, Lessee shall have the right to assign or otherwise transfer
all, but not less than all, of its interest in, to and under this Lease without Lessor’s consent to (i) an Affiliate of Lessee,
(ii) any entity which purchases or otherwise acquires all or substantially all of the assets of Lessee in a bona fide sale for
fair market value, or (iii) a Qualified Operator (each, a “Permitted Transfer”).  A “Qualified
Operator” shall mean a Person who (x) for two (2) consecutive years immediately prior to the date of assignment or transfer
and (y) on a proforma basis following the consummation of such assignment or transfer (all as determined by Lessor upon review
of financial statements provided by the assignee prior to the proposed lease assignment and in a form reasonably satisfactory to
Lessor), (A) has a CFCCR (defined below) of at least 1.75x; (B) generates EBITDA (defined below) of at least $1,000,000,
and (C) has a Lease Adjusted Leverage (defined below) of no more than 5.0x; provided, however, that Lessee may satisfy
the foregoing conditions of a Qualified Operator by providing, or causing to be provided, a guaranty agreement, in form and substance
reasonably acceptable to and approved by Lessor, in writing, which guaranty shall be from an entity that meets the requirements
of (A), (B) and (C) set forth in this Section 14.02.  Lessee shall provide Lessor with at least thirty (30) days’ prior
written notice of a proposed Permitted Transfer, which, if the proposed Permitted Transfer is to a Qualified Operator, must include
financial information satisfying the Qualified Operator requirements set forth herein. In the event that Lessee effects an assignment
to a Qualified Operator, Lessee shall be released from any liability arising under this Lease from and after the date of such assignment
and Guarantor shall be released from any liability arising under the Guaranty from and after the date of such assignment. 
In the event that Lessee effects a Permitted Transfer pursuant to clauses (i) or (ii), Lessee shall not be released from liability
under this Lease nor shall Guarantor be released from liability under the Guaranty.

 

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For purposes hereof:

 

“CFCCR”
means with respect to the twelve month period of time immediately preceding the date of determination, the ratio calculated for
such period of time, each as determined in accordance with GAAP, of (i) the sum of Consolidated Net Income (excluding non-cash
income), Depreciation and Amortization, Interest Expense, income taxes, Operating Lease Expense and non-cash expenses to (ii) the
sum of Operating Lease Expense (excluding non-cash rent adjustments), scheduled principal payments of long term Debt, scheduled
maturities of all Capital Leases, dividends and Interest Expense (excluding non-cash interest expense and amortization of non-cash
financing expenses). For purposes of calculating the CFCCR, the following terms shall be defined as set forth below:

 

“Capital
Lease” shall mean all leases of any property, whether real, personal or mixed, by a Person, which leases would, in conformity
with GAAP, be required to be accounted for as a capital lease on the balance sheet of such Person.  The term “Capital
Lease” shall not include any operating lease.

 

“Consolidated
Net Income” shall mean with respect to the period of determination, the net income or net loss of a Person.  In
determining the amount of Consolidated Net Income, (i) adjustments shall be made for nonrecurring gains and losses or non-cash
items allocable to the period of determination, (ii) deductions shall be made for, among other things, Depreciation and Amortization,
Interest Expense, Operating Lease Expense, and (iii) no deductions shall be made for income taxes or charges equivalent to income
taxes allocable to the period of determination, as determined in accordance with GAAP.

 

“Debt”
shall mean with respect to a Person, and for the period of determination (i) indebtedness for borrowed money, (ii) subject
to the limitation set forth in sub item (iv) below, obligations evidenced by bonds, indentures, notes or similar instruments, (iii)
obligations under leases which should be, in accordance with GAAP, recorded as Capital Leases, and (iv) obligations under direct
or indirect guarantees in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise
to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i)
through (iv) above, except for guaranty obligations of such Person, which, in conformity with GAAP, are not included on the balance
sheet of such Person.

 

“Depreciation
and Amortization” shall mean the depreciation and amortization accruing during any period of determination with respect
to a Person, as determined in accordance with GAAP.

 

“Interest
Expense” shall mean for any period of determination, the sum of all interest accrued or which should be accrued in respect
of all Debt of a Person, as determined in accordance with GAAP.

 

“Operating
Lease Expense” shall mean the sum of all payments and expenses incurred by a Person, under any operating leases during
the period of determination, as determined in accordance with GAAP.

 

“EBITDA”
means for the twelve (12) month period ending on the date of determination, the sum of a Person’s net income (loss) for such
period plus, in each case to the extent previously deducted in calculating net income (loss): (i) income taxes, (ii) interest
payments on all of its debt obligations (including any borrowings under short term credit facilities), (iii) all non-cash
charges including depreciation and amortization, and (iv) Non-Recurring Items (defined below).

 

“EBITDAR”
means the sum of a Person’s EBITDA and its total land and building rent for the twelve (12) month period ending on the date
of determination.

 

“Lease Adjusted
Leverage” means with respect to a Person, as of any applicable date, the sum of (i) ten (10) times such Person’s
total land and building rent for the twelve (12) month period ending on the date of determination, and (ii) the total current balance
of such Person’s total debt obligations (including any borrowings under short term credit facilities) on such date, divided
by EBITDAR.

 

“Non-Recurring
Items” shall mean with respect to a Person, items of the sum (whether positive or negative) of revenue minus expenses
that, in the judgment of Lessor, are unusual in nature, occur infrequently and are not representative of the ongoing or future
earnings or expenses of such Person.

 

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Section 14.03. Change
in Control. Notwithstanding anything to the contrary contained in Section 14.02 and provided that no Event of Default has occurred
and is continuing at the time of the proposed transaction, a Person may, without the prior written consent of Lessor, sell, transfer
or issue any equity interest in Lessee, provided that, either (a) such transaction does not result in a Change in Control, or (b)
in the event that such transaction does result in a Change in Control on a proforma basis following the consummation of such transaction,
Lessee is a Qualified Operator. Notwithstanding the foregoing, Guarantor shall be permitted to transfer an equity interest in Lessee
that results in a Change in Control but that does not result in Lessee being a Qualified Operator on a proforma basis following
the consummation of such transaction so long as Lessee shall have, for two (2) consecutive years immediately prior to the date
of transfer (i) maintained a CFCCR of at least 1.75x, and (ii) generated EBITDA of at least $1,000,000. Lessee shall provide Lessor
with at least five (5) Business Days prior written notice of any proposed transaction described in clause (a) above, and at least
thirty (30) days’ prior written notice (or such shorter period of time as reasonably approved by Lessor) of any proposed
transaction described in clause (b) above, which notice, to the extent applicable, shall include financial information intended
to satisfy the Qualified Operator requirements set forth herein.

 

For purposes of this
Section 14.03, a “Change in Control” means any Person, pursuant to a single transaction or series of transactions:
(1) acquiring, directly or indirectly, more than fifty percent (50%) of the voting stock, partnership interests, membership interests
or other equitable and/or beneficial interests of Lessee; or (2) obtaining, directly or indirectly, the power (whether or not exercised)
to (A) direct or cause the direction of the management policies of Lessee, whether through the ownership of voting securities,
by contract or otherwise, or (B) elect a majority of the directors of Lessee or voting control of any entity acting as general
partner or managing member of Lessee (including through merger or consolidation of Lessee with or into any other Person).

 

Section 14.04. No
Sale of Assets. Except as set forth in Sections 14.02 and 14.03, without the prior written consent of Lessor, Lessee shall
not sell all or substantially all of Lessee’s assets without Lessor’s prior written consent. Any sale of Lessee’s
assets in violation of this Section 14.04, shall be voidable at the sole option of Lessor. Any consent to a sale of Lessee’s
assets given by Lessor hereunder shall not be deemed a consent to any subsequent sale of Lessee’s assets.

 

Section 14.05. Subletting.
Lessee shall not sublet the Properties without the prior written consent of Lessor, which may be withheld by Lessor in its sole
discretion and any such purported subletting shall be void. Notwithstanding the foregoing, without Lessor’s consent, Lessee
may sublet a portion of the Properties (collectively, the “Permitted Subleases”), provided that: (a) Lessee
shall provide written notice thereof to Lessor (accompanied by a copy of the Permitted Sublease) at least ten (10) days prior to
the date of such Permitted Sublease; (b) each Permitted Sublease shall be subject and subordinate to this Lease; (c) each
Permitted Sublease shall not contain any terms inconsistent with this Lease (or if so, the terms of this Lease shall control);
(d) unless otherwise mutually agreed upon by Lessor and the subtenant, each Permitted Sublease shall terminate upon the expiration
or sooner termination of this Lease (and such shall be clearly set forth in all Permitted Subleases); (e) Lessee at all times
remains liable hereunder irrespective of any Permitted Sublease; and (f) the use of any related Property shall not violate
any applicable zoning codes and shall not be used for any of the purposes set forth on Schedule 14.05 even if such uses are
otherwise permitted under the applicable zoning codes.Lessee covenants and agrees that Lessee: (i) shall observe and timely
perform all of its obligations as the landlord under the Permitted Subleases in compliance with the terms thereof; (ii) shall
not assign all or part of any Sublease without the prior written consent of Lessor; (iii) shall promptly provide Lessor with
any notice of default received from Lessee by any subtenant or any notice of default sent by Lessee to any subtenant; (iv) shall
furnish Lessor with any and all information requested by Lessor reasonably necessary for a determination of the status of any Sublease;
and (v) Lessee shall provide Lessor with copies of any and all Permitted Subleases and/or amendments to Permitted Subleases within
five (5) days of execution thereof.

 

Section 14.06. Collateral
Assignment of Permitted Subleases. As security for the payment and performance by Lessee of its obligations under this Lease,
Lessee hereby assigns, transfers, sets over and grants to Lessor, a security interest in any and all of Lessee’s right, title
and interest, powers, privileges and other benefits as landlord under the Permitted Subleases, including, without limitation: (a) rent
and proceeds thereof; (b) the right to enter upon, take possession of and use any and all property subleased or granted by
Lessee under the Permitted Subleases; (c) the right to make all waivers and agreements, to give all notices, consents and
releases, to take all action upon the happening of any default giving rise to a right in favor of Lessee under the Permitted Subleases;
and (d) the right to do any and all other things whatsoever which Lessee is or may become entitled to do under the Permitted
Subleases. Upon the occurrence of and during the continuance of an Event of Default hereunder, Lessee agrees that, at the option
of Lessor and in addition to such other rights and remedies as may be afforded to Lessor under this Lease, Lessor shall have the
right, without giving notice to or obtaining the consent of Lessee, to exercise, enforce or avail itself of any of the rights,
powers, privileges, authorizations or benefits assigned and transferred to Lessor pursuant to this Section 14.06, including, without
limitation, the right to collect all amounts due under the Permitted Subleases. From and after the occurrence of an Event of Default,
Lessee does hereby irrevocably appoint Lessor as Lessee’s true and lawful attorney, with full power (in the name of Lessee
or otherwise) to ask, require, demand, receive and give acquittance for every payment under or arising out of the Permitted Subleases
to which Lessee is or may become entitled. Lessee declares that this appointment is coupled with an interest and shall be irrevocable
by Lessee. Lessee further agrees to execute any and all other instruments deemed reasonably necessary by Lessor to further the
intent of the foregoing assignment and to vest Lessor in the Permitted Subleases. Notwithstanding any provision contained in this
Section 14.06, (i) Lessor shall not be obligated to perform or discharge any obligation, duty or liability under the
Permitted Subleases by reason of the foregoing assignment; and (ii) Lessor shall not be liable or responsible for, and Lessee
agrees to indemnify and hold Lessor harmless from and against any liability, loss, cost or damage, claim or demand against Lessor
arising, directly or indirectly, from or related to the Permitted Subleases.

 

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ARTICLE
XV

Notices

 

Section 15.01. Notices.
All notices, demands, designations, certificates, requests, offers, consents, approvals, appointments and other instruments given
pursuant to this Lease shall be in writing and given by any one of the following: (a) hand delivery; (b) express overnight
delivery service; (c) certified or registered mail, return receipt requested; or (d) email transmission, and shall be
deemed to have been delivered upon (i) receipt, if hand delivered; (ii) the next Business Day, if delivered by a reputable
express overnight delivery service; (iii) the third Business Day following the day of deposit of such notice with the United
States Postal Service, if sent by certified or registered mail, return receipt requested; or (iv) transmission, if delivered
by email transmission. Notices shall be provided to the parties and addresses (or electronic mail addresses) specified below:

 

	If to Lessee:	
        ARC Group Inc.

        6327-4 Argyle Forest Blvd.

        Jacksonville, FL 32244

        Attention: Seenu Kasturi

        Email: arc@arcgrpinc.com 

	 	 
	If to Lessor:	
        STORE Capital Acquisitions, LLC

        8377 E. Hartford Dr., Suite 100

        Scottsdale, Arizona 85255

        Attention: Asset Management

        Email: customerservice@storecapital.com

	 	 
	With a copy to:	
        Kutak Rock LLP

        1801 California Street, Suite 3000

        Denver, Colorado 80202

        Attention: Whitney A. Kopicky, Esq.

        Email: whitney.kopicky@kutakrock.com

 

or to such other address or such other
person as either party may from time to time hereafter specify to the other party in a notice delivered in the manner provided
above.

 

ARTICLE
XVI

Landlord’s Lien / Security Interest

 

Section 16.01. Landlord’s
Lien and Security Interest. Lessee agrees that Lessor shall have a landlord’s lien, and Lessee additionally hereby separately
grants to Lessor a first and prior security interest, in, on and against all of Lessee’s right, title and interest in, to
and under all “goods” (excluding “inventory,” and including, without limitation, all “equipment,”
 “fixtures,” appliances and furniture (as “goods,” “inventory,” “equipment” and
 “fixtures” are defined in the applicable Uniform Commercial Code then in effect in the applicable jurisdiction)) from
time to time situated on or used in connection with the Property, whether now owned or held or hereafter arising or acquired, together
with all replacements and substitutions therefore, and all cash and non-cash proceeds (including insurance proceeds and any title
and UCC insurance proceeds) and products thereof, and, in the case of tangible collateral, together with all additions, attachments,
accessions, parts, equipment and repairs now or hereafter attached or affixed thereto or used in connection therewith (collectively,
the “Personalty”), which lien and security interest shall secure the payment of all Rental and other Monetary
Obligations payable by Lessee to Lessor under the terms hereof and all other obligations of Lessee to Lessor under this Lease.
Lessee agrees that Lessor may file such documents as Lessor then deems appropriate or necessary to perfect and maintain said lien
and security interest, and expressly acknowledges and agrees that, in addition to any and all other rights and remedies of Lessor
whether hereunder or at law or in equity, in the Event of Default of Lessee hereunder, Lessor shall have any and all rights and
remedies granted a secured party under the Uniform Commercial Code then in effect in the state where the Property is located. Lessee
covenants to promptly notify Lessor of any changes in Lessee’s name and/or organizational structure which may necessitate
the execution and filing of additional financing statements; provided, however, the foregoing shall not be construed as
Lessor’s consent to such changes.

 

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ARTICLE
XVII

MISCELLANEOUS

 

Section 17.01. Force
Majeure. Any prevention, delay or stoppage due to strikes, lockouts, acts of God, enemy or hostile governmental action, civil
commotion, fire or other casualty beyond the control of the party obligated to perform (each, a “Force Majeure Event”)
shall excuse the performance by such party for a period equal to any such prevention, delay or stoppage, expressly excluding, however,
the obligations imposed upon Lessee with respect to Rental and other Monetary Obligations to be paid hereunder.

 

Section 17.02. No
Merger. There shall be no merger of this Lease nor of the leasehold estate created by this Lease with the fee estate in or
ownership of any of the Properties by reason of the fact that the same person, corporation, firm or other entity may acquire or
hold or own, directly or indirectly, (a) this Lease or the leasehold estate created by this Lease or any interest in this
Lease or in such leasehold estate, and (b) the fee estate or ownership of any of the Properties or any interest in such fee
estate or ownership. No such merger shall occur unless and until all persons, corporations, firms and other entities having any
interest in (i) this Lease or the leasehold estate created by this Lease, and (ii) the fee estate in or ownership of
the Properties or any part thereof sought to be merged shall join in a written instrument effecting such merger and shall duly
record the same.

 

Section 17.03. Interpretation.
Lessor and Lessee acknowledge and warrant to each other that each has been represented by independent counsel and has executed
this Lease after being fully advised by said counsel as to its effect and significance. This Lease shall be interpreted and construed
in a fair and impartial manner without regard to such factors as the party which prepared the instrument, the relative bargaining
powers of the parties or the domicile of any party. Whenever in this Lease any words of obligation or duty are used, such words
or expressions shall have the same force and effect as though made in the form of a covenant.

 

Section 17.04. Characterization.
The following expressions of intent, representations, warranties, covenants, agreements, stipulations and waivers are a material
inducement to Lessor entering into this Lease:

 

(a) Except
as otherwise provided in Article 11, Lessor and Lessee intend that (i) this Lease constitutes an unseverable, unitary and single
lease of all, but not less than all, of the Properties, and, if at any time this Lease covers other real property in addition to
the Properties, neither this Lease, nor Lessee’s obligations or rights hereunder may be allocated or otherwise divided among
such properties by Lessee; (ii) this Lease is a “true lease,” is not a financing lease, capital lease, mortgage,
equitable mortgage, deed of trust, trust agreement, security agreement or other financing or trust arrangement, and the economic
realities of this Lease are those of a true lease; and (iii) the business relationship created by this Lease and any related documents
is solely that of a long-term commercial lease between Lessor and Lessee, the Lease has been entered into by both parties in reliance
upon the economic and legal bargains contained herein, and none of the agreements contained herein is intended, nor shall the same
be deemed or construed, to create a partnership (de facto or de jure) between Lessor and Lessee, to make them joint
venturers, to make Lessee an agent, legal representative, partner, subsidiary or employee of Lessor, nor to make Lessor in any
way responsible for the debts, obligations or losses of Lessee.

 

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(b) Lessor
and Lessee covenant and agree that: (i) each will treat this Lease as an operating lease pursuant to Statement of Financial
Accounting Standards No. 13, as amended, and as a true lease for state law reporting purposes and for federal income
tax purposes; (ii) each party will not, nor will it permit any Affiliate to, at any time, take any action or fail to take
any action with respect to the preparation or filing of any statement or disclosure to Governmental Authority, including without
limitation, any income tax return (including an amended income tax return), to the extent that such action or such failure to take
action would be inconsistent with the intention of the parties expressed in this Section 17.04; (iii) with respect to
the Properties, the Lease Term (including any Renewal Term) is less than seventy-five (75%) of the estimated remaining economic
life of the Properties; and (iv) the Base Annual Rental is the fair market value for the use of the Properties and was agreed
to by Lessor and Lessee on that basis, and the execution and delivery of, and the performance by Lessee of its obligations under,
this Lease do not constitute a transfer of all or any part of the Properties.

 

(c) Lessee
waives any claim or defense based upon the characterization of this Lease as anything other than a true lease and as a master lease
of all of the Properties. Lessee stipulates and agrees (i) not to challenge the validity, enforceability or characterization
of the lease of the Properties as a true lease and/or as a single, unitary, unseverable instrument pertaining to the lease of all,
but not less than all, of the Properties (except as otherwise provided in Article 11); and (ii) not to assert or take or omit
to take any action inconsistent with the agreements and understandings set forth in this Section 17.04.

 

Section 17.05. Disclosure.

 

(a) Securities
Act or Exchange Act. The parties agree that, notwithstanding any provision contained in this Lease, any party (and each
employee, representative or other agent of any party) may disclose to any and all persons, without limitation of any kind, any
matter required under the Securities Act or the Exchange Act.

 

(b) Lessor
Advertising and related Publications. Lessee hereby consents to the use by Lessor of, and Lessor is hereby expressly
permitted to use, Lessee’s name, trademarks, logos, pictures of stores and signage, and basic Transaction information (collectively
 “Lessee’s Information”) solely in connection with Lessor’s sales, advertising, and press release
materials, including on Lessor’s website. Lessee’s consent shall be deemed authorization for the limited use of Lessee’s
Information by Lessor under all applicable copyright and trademark laws.

 

Section 17.06. Bankruptcy.
As a material inducement to Lessor executing this Lease, Lessee acknowledges and agrees that Lessor is relying upon (a) the
financial condition and specific operating experience of Lessee and Lessee’s obligation to use the Properties as Permitted
Facilities; (b) Lessee’s timely performance of all of its obligations under this Lease notwithstanding the entry of
an order for relief under the Bankruptcy Code for Lessee; and (c) all defaults under this Lease being cured promptly and this
Lease being assumed within sixty (60) days of any order for relief entered under the Bankruptcy Code for Lessee, or this Lease
being rejected within such sixty (60)-day period and the Properties surrendered to Lessor. Accordingly, in consideration of the
mutual covenants contained in this Lease and for other good and valuable consideration, Lessee hereby agrees that: (i) all
obligations that accrue under this Lease (including the obligation to pay Rentals), from and after an Insolvency Event shall be
timely performed exactly as provided in this Lease and any failure to so perform shall be harmful and prejudicial to Lessor; (ii) any
and all Rentals that accrue from and after an Insolvency Event and that are not paid as required by this Lease shall, in the amount
of such Rentals, constitute administrative expense claims allowable under the Bankruptcy Code with priority of payment at least
equal to that of any other actual and necessary expenses incurred after an Insolvency Event; (iii) any extension of the time
period within which Lessee may assume or reject this Lease without an obligation to cause all obligations under this Lease to be
performed as and when required under this Lease shall be harmful and prejudicial to Lessor; (iv) any time period designated
as the period within which Lessee must cure all defaults and compensate Lessor for all pecuniary losses which extends beyond the
date of assumption of this Lease shall be harmful and prejudicial to Lessor; (v) any assignment of this Lease must result
in all terms and conditions of this Lease being assumed by the assignee without alteration or amendment, and any assignment which
results in an amendment or alteration of the terms and conditions of this Lease without the express written consent of Lessor shall
be harmful and prejudicial to Lessor; (vi) any proposed assignment of this Lease shall be harmful and prejudicial to Lessor
if made to an assignee: (A) that does not possess financial condition adequate to operate Permitted Facilities upon the Properties
or operating performance and experience characteristics satisfactory to Lessor equal to or better than the financial condition,
operating performance and experience of Lessee as of the Effective Date; or (B) that does not provide guarantors of the lease
obligations with financial condition equal to or better than the financial condition of the Guarantor as of the Effective Date;
and (vii) the rejection (or deemed rejection) of this Lease for any reason whatsoever shall constitute cause for immediate
relief from the automatic stay provisions of the Bankruptcy Code, and Lessee stipulates that such automatic stay shall be lifted
immediately and possession of the Properties will be delivered to Lessor immediately without the necessity of any further action
by Lessor. No provision of this Lease shall be deemed a waiver of Lessor’s rights or remedies under the Bankruptcy Code or
applicable Law to oppose any assumption and/or assignment of this Lease, to require timely performance of Lessee’s obligations
under this Lease, or to regain possession of the Properties as a result of the failure of Lessee to comply with the terms and conditions
of this Lease or the Bankruptcy Code. Notwithstanding anything in this Lease to the contrary, all amounts payable by Lessee to
or on behalf of Lessor under this Lease, whether or not expressly denominated as such, shall constitute “rent” for
the purposes of the Bankruptcy Code. For purposes of this Section addressing the rights and obligations of Lessor and Lessee upon
an Insolvency Event, the term “Lessee” shall include Lessee’s successor in bankruptcy, whether a trustee, Lessee
as debtor in possession or other responsible person. Notwitstanding anything in this Section 17.06 to the contrary, in the event
any of the terms of Article 14 conflict with any of the terms of this Section 17.06, the terms of Article 14 shall control.

 

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Section 17.07. Attorneys’
Fees. In the event of any judicial or other adversarial proceeding concerning this Lease, to the extent permitted by Law, the
prevailing party shall be entitled to recover all of its reasonable attorneys’ fees and other Costs in addition to any other
relief to which it may be entitled. In addition, the prevailing party shall, upon demand, be entitled to all attorneys’ fees
and all other Costs incurred in the preparation and service of any notice or demand hereunder, whether or not a legal action is
subsequently commenced.

 

Section 17.08. Memoranda
of Lease. Concurrently with the execution of this Lease, Lessor and Lessee are executing Lessor’s standard form memorandum
of lease in recordable form, indicating the names and addresses of Lessor and Lessee, a description of the Properties, the Lease
Term, but omitting Rentals and such other terms of this Lease as Lessor may not desire to disclose to the public. Further, upon
Lessor’s request, Lessee agrees to execute and acknowledge a termination of lease and/or quitclaim deed in recordable form
to be held by Lessor until the expiration or sooner termination of the Lease Term; provided, however, if Lessee shall fail
or refuse to sign such a document in accordance with the provisions of this Section within ten (10) days following a request
by Lessor, Lessee irrevocably constitutes and appoints Lessor as its attorney-in-fact to execute and record such document, it being
stipulated that such power of attorney is coupled with an interest and is irrevocable and binding.

 

Section 17.09. No
Brokerage. Lessor and Lessee represent and warrant to each other that they have had no conversation or negotiations with any
broker concerning the leasing of the Properties. Each of Lessor and Lessee agrees to protect, indemnify, save and keep harmless
the other, against and from all liabilities, claims, losses, Costs, damages and expenses, including attorneys’ fees, arising
out of, resulting from or in connection with their breach of the foregoing warranty and representation.

 

Section 17.10. Waiver
of Jury Trial and Certain Damages. LESSOR AND LESSEE HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER
MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT
BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER OR ITS SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN CONNECTION
WITH THIS LEASE, THE RELATIONSHIP OF LESSOR AND LESSEE, LESSEE’S USE OR OCCUPANCY OF THE PROPERTIES, AND/OR ANY CLAIM FOR
INJURY OR DAMAGE, OR ANY EMERGENCY OR STATUTORY REMEDY. THIS WAIVER BY THE PARTIES HERETO OF ANY RIGHT EITHER MAY HAVE TO A TRIAL
BY JURY HAS BEEN NEGOTIATED AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN. FURTHERMORE, LESSEE AND LESSOR HEREBY KNOWINGLY, VOLUNTARILY
AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES FROM THE OTHER
PARTY ANY OF THE AFFILIATES, OFFICERS, DIRECTORS, MEMBERS, MANAGERS OR EMPLOYEES OF THE OTHER PARTY OR ANY OF ITS SUCCESSORS WITH
RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT WITH RESPECT TO ANY MATTER ARISING
OUT OF OR IN CONNECTION WITH THIS LEASE OR ANY DOCUMENT CONTEMPLATED HEREIN OR RELATED HERETO. THE WAIVER BY THE PARTIES OF ANY
RIGHT THEY MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES HAS BEEN NEGOTIATED BY THE PARTIES HERETO AND
IS AN ESSENTIAL ASPECT OF THEIR BARGAIN.

 

Section 17.11. Securitizations.
As a material inducement to Lessor’s willingness to enter into the Transactions contemplated by this Lease and the other
Transaction Documents, Lessee hereby acknowledges and agrees that Lessor may, from time to time and at any time (a) advertise,
issue press releases, send direct mail or otherwise disclose information regarding the Transaction for marketing purposes; and
(b) (i) act or permit another Person to act as sponsor, settler, transferor or depositor of, or a holder of interests in, one or
more Persons or other arrangements formed pursuant to a trust agreement, indenture, pooling agreement, participation agreement,
sale and servicing agreement, limited liability company agreement, partnership agreement, articles of incorporation or similar
agreement or document; and (ii) permit one or more of such Persons or arrangements to offer and sell stock, certificates,
bonds, notes, other evidences of indebtedness or securities that are directly or indirectly secured, collateralized or otherwise
backed by or represent a direct or indirect interest in whole or in part in any of the assets, rights or properties described in
Section 14.01 of this Lease, in one or more Persons or arrangements holding such assets, rights or properties, or any of them
(collectively, the “Securities”), whether any such Securities are privately or publicly offered and sold, or
rated or unrated (any combination of which actions and transactions described in both clauses (i) and (ii) in this paragraph, whether
proposed or completed, are referred to in this Lease as a “Securitization”). Lessee shall cooperate fully with
Lessor and any Affected Party with respect to all reasonable requests and due diligence procedures and to use reasonable efforts
to facilitate such Securitization, including, without limitation, providing for inclusion in any prospectus or other Securities
offering material such documents, financial and other data, and other information and materials which would customarily be required
with respect to Lessee by a purchaser, transferee, assignee, servicer, participant, investor or rating agency involved with respect
to such Securitization, and Lessee shall indemnify and hold harmless Lessor for any and all liabilities, losses and expenses arising
under the Securities Act, or the Exchange Act, in connection with any material misstatement (or alleged misstatement) contained
in such information provided in writing (including, without limitation, electronically) by Lessee or its officers, managers, members,
employees, or agents, or any omission (or alleged omission) of a material fact by Lessee or its officers, managers, members, employees,
or agents, the inclusion of which was necessary to make such written information not misleading, unless such material misstatement
or alleged misstatement or omission or alleged omission is caused by Lessor or its directors, officers, managers, members, shareholders,
employees, or agents. Lessee shall deliver to Lessor, any Affected Party and to any Person designated by Lessor, such statements
and audit letters of reputable, independent certified public accountants pertaining to the written information provided by Lessee
pursuant to this Section as shall be requested by Lessor or such Affected Party, as the case may be. Lessee also shall deliver
to Lessor, any Affected Party and to any Person designated by Lessor or any Affected Party, such opinions of counsel (including,
without limitation, local counsel opinions), appraisals, environmental reports and zoning letters, or updates of any of the foregoing,
as are customarily delivered in connection with Securitizations or as may be required by any rating agency in connection with any
Securitization.

 

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Section 17.12. State-Specific
Provisions. The provisions and/or remedies which are set forth on the attached Exhibit C shall be deemed a part
of and included within the terms and conditions of this Lease.

 

Section 17.13. Time
Is of the Essence; Computation. Time is of the essence with respect to each and every provision of this Lease. If any deadline
provided herein falls on a non-Business Day, such deadline shall be extended to the next day that is a Business Day.

 

Section 17.14. Waiver
and Amendment. No provision of this Lease shall be deemed waived or amended except by a written instrument unambiguously setting
forth the matter waived or amended and signed by the party against which enforcement of such waiver or amendment is sought. Waiver
of any matter shall not be deemed a waiver of the same or any other matter on any future occasion. No acceptance by Lessor of an
amount less than the Rental and other Monetary Obligations stipulated to be due under this Lease shall be deemed to be other than
a payment on account of the earliest such Rental or other Monetary Obligations then due or in arrears nor shall any endorsement
or statement on any check or letter accompanying any such payment be deemed a waiver of Lessor’s right to collect any unpaid
amounts or an accord and satisfaction.

 

Section 17.15. Successors
Bound. Except as otherwise specifically provided herein, the terms, covenants and conditions contained in this Lease shall
bind and inure to the benefit of the respective heirs, successors, executors, administrators and assigns of each of the parties
hereto.

 

Section 17.16. Captions.
Captions are used throughout this Lease for convenience of reference only and shall not be considered in any manner in the construction
or interpretation hereof.

 

Section 17.17. Other
Documents. Each of the parties agrees to sign such other and further documents as may be necessary or appropriate to carry
out the intentions expressed in this Lease.

 

Section 17.18. Entire
Agreement. This Lease and any other instruments or agreements referred to herein, constitute the entire agreement between the
parties with respect to the subject matter hereof, and there are no other representations, warranties or agreements except as herein
provided.

 

Section 17.19. Forum
Selection; Jurisdiction; Venue; Choice of Law. For purposes of any action or proceeding arising out of this Lease, the parties
hereto expressly submit to the jurisdiction of all federal and state courts located in the State of Arizona. Lessee consents that
it may be served with any process or paper by registered mail or by personal service within or without the State of Arizona in
accordance with applicable law. Furthermore, Lessee waives and agrees not to assert in any such action, suit or proceeding that
it is not personally subject to the jurisdiction of such courts, that the action, suit or proceeding is brought in an inconvenient
forum or that venue of the action, suit or proceeding is improper. Nothing contained in this Section shall limit or restrict
the right of Lessor to commence any proceeding in the federal or state courts located in the states where the Properties are located
to the extent Lessor deems such proceeding necessary or advisable to exercise remedies available under this Lease. This Lease shall
be governed by, and construed with, the laws of the applicable state or states in which the Properties are located, without giving
effect to any state’s conflict of laws principles.

 

Section 17.20. Counterparts.
This Lease may be executed in one or more counterparts, each of which shall be deemed an original.

 

[Remainder of page intentionally
left blank; signature page(s) to follow]

 

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IN WITNESS WHEREOF,
Lessor and Lessee have entered into this Lease as of the date first above written.

 

	 	LESSOR:
	 	 	 
	 	STORE CAPITAL ACQUISITIONS, LLC, a Delaware limited liability company
	 	 	 
	 	By:	/s/ Michael T. Bennett
	 	Name: 	Michael T. Bennett
	 	Title:	EVP General Counsel

 

    
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IN WITNESS WHEREOF,
Lessor and Lessee have entered into this Lease as of the date first above written.

 

	 	LESSEE:
	 	 	 
	 	ARC GROUP INC., a Nevada corporation
	 	 	 
	 	By:	 /s/ Seenu G. Kasturi
	 	Name: 	 Seenu G. Kasturi
	 	Title:	 CFO

 

    
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EXHIBITS

 

Exhibit A: Defined Terms

Exhibit B: Legal Descriptions and Street Addresses of Properties

Exhibit C: State-Specific Provisions

 

Schedule 4.05: Wire Instructions

 

Schedule 9.03: Supplemental Financial Information

 

Schedule 14.05: Prohibited Uses

 

    
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EXHIBIT
A

DEFINED TERMS

 

The following terms
shall have the following meanings for all purposes of this Lease:

 

“Additional
Rental” has the meaning set forth in Section 4.03.

 

“Adjustment
Date” has the meaning set forth in Section 1.07.

 

“Affected
Party” means each direct or indirect participant or investor in a proposed or completed Securitization, including, without
limitation, any prospective owner, any rating agency or any party to any agreement executed in connection with the Securitization.

 

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

 

“Anti-Money
Laundering Laws” means all applicable laws, regulations and government guidance on the prevention and detection of money
laundering, including, without limitation, (a) 18 U.S.C. §§ 1956 and 1957; and (b) the Bank Secrecy Act, 31 U.S.C.
 §§ 5311 et seq., and its implementing regulations, 31 CFR Part 103.

 

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

 

“Base Annual
Rental” has the meaning set forth in Section 1.05.

 

“Base Monthly
Rental” means an amount equal to 1/12 of the applicable Base Annual Rental.

 

“Business
Day” means a day on which banks located in Scottsdale, Arizona are not required or authorized to remain closed but specifically
excluding SATURDAYS.

 

“Casualty”
means any loss of or damage to any property included within or related to the Properties or arising from an adjoining property
caused by an Act of God, fire, flood or other catastrophe.

 

“Change in
Control” has the meaning set forth in Section 14.03.

 

“Code”
means the Internal Revenue Code of 1986, as the same may be amended from time to time.

 

“Condemnation”
means a Taking and/or a Requisition.

 

“Costs”
means all reasonable costs and expenses incurred by a Person, including, without limitation, reasonable attorneys’ fees and
expenses, court costs, expert witness fees, costs of tests and analyses, travel and accommodation expenses, deposition and trial
transcripts, copies and other similar costs and fees, brokerage fees, escrow fees, title insurance premiums, appraisal fees, stamp
taxes, recording fees and transfer taxes or fees, as the circumstances require.

 

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“Default Rate”
means 18% per annum or the highest rate permitted by law, whichever is less.

 

“Effective
Date” has the meaning set forth in the introductory paragraph of this Lease.

 

“Environmental
Laws” means federal, state and local laws, ordinances, common law requirements and regulations and standards, rules,
policies and other governmental requirements, administrative rulings and court judgments and decrees having the effect of law in
effect now or in the future and including all amendments, that relate to Hazardous Materials, Regulated Substances, USTs, and/or
the protection of human health or the environment, or relating to liability for or Costs of Remediation or prevention of Releases,
and apply to Lessee and/or the Properties.

 

“Environmental
Liens” has the meaning set forth in Section 8.04(a)(ii).

 

“Event of
Default” has the meaning set forth in Section 12.01.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Expiration
Date” has the meaning set forth in Section 3.01.

 

“Extension
Option” has the meaning set forth in Section 3.02.

 

“Force Majeure
Event” has the meaning set forth in Section 17.01.

 

“GAAP”
means generally accepted accounting principles, consistently applied from period to period.

 

“Governmental
Authority” means any governmental authority, agency, department, commission, bureau, board, instrumentality, court or
quasi-governmental authority of the United States, any state or any political subdivision thereof with authority to adopt, modify,
amend, interpret, give effect to or enforce any federal, state and local laws, statutes, ordinances, rules or regulations, including
common law, or to issue court orders.

 

“Guarantor”
means Seenu Kasturi, an individual, or any additional or replacement guarantor(s) approved by Lessor in its sole and absolute discretion.

 

“Guaranty”
means that certain Unconditional Guaranty of Payment and Performance dated as of the date hereof given by Guarantor for the benefit
of Lessor, as the same may be amended from time to time.

 

“Hazardous
Materials” includes: (a) oil, petroleum products, flammable substances, explosives, radioactive materials, hazardous
wastes or substances, toxic wastes or substances or any other materials, contaminants or pollutants which pose a hazard to any
of the Properties or to Persons on or about any of the Properties, cause any of the Properties to be in violation of any local,
state or federal law or regulation, (including without limitation, any Environmental Law), or are defined as or included in the
definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “toxic
substances,” “contaminants,” “pollutants,” or words of similar import under any applicable local,
state or federal law or under the regulations adopted, orders issued, or publications promulgated pursuant thereto, including,
but not limited to: (i) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C.
 § 9601, et seq.; (ii) the Hazardous Materials Transportation Act, as amended, 49 U.S.C. § 5101,
et seq.; (iii) the Resource Conservation and Recovery Act, as amended, 42 U.S.C. § 6901, et seq.; and
(iv) regulations adopted and publications promulgated pursuant to the aforesaid laws; (b) asbestos in any form which
is or could become friable, urea formaldehyde foam insulation, transformers or other equipment which contain dielectric fluid containing
levels of polychlorinated biphenyls in excess of fifty (50) parts per million; (c) underground storage tanks; and (d) any
other chemical, material or substance, exposure to which is prohibited, limited or regulated by any governmental authority or which
may or could pose a hazard to the health and safety of the occupants of any of the Properties or the owners and/or occupants of
any adjoining property.

 

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“Indemnified
Parties” means Lessor and its members, managers, officers, directors, shareholders, partners, employees, agents, servants,
representatives, contractors, subcontractors, affiliates, subsidiaries, participants, successors and assigns, including, but not
limited to, any successors by merger, consolidation or acquisition of all or a substantial portion of the assets and business of
Lessor.

 

“Initial Term”
has the meaning set forth in Section 3.01.

 

“Insolvency
Event” means (a) a Person’s (i) failure to generally pay its debts as such debts become due; (ii) admitting
in writing its inability to pay its debts generally; or (iii) making a general assignment for the benefit of creditors; (b) any
proceeding being instituted by or against any Person (i) seeking to adjudicate it bankrupt or insolvent; (ii) seeking
liquidation, dissolution, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its
debts under any law relating to bankruptcy, insolvency, or reorganization or relief of debtors; or (iii) seeking the entry
of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial part
of its property, and in the case of any such proceeding instituted against any Person, either such proceeding shall remain undismissed
for a period of one hundred twenty (120) days or any of the actions sought in such proceeding shall occur; or (c) any
Person taking any corporate action to authorize any of the actions set forth above in this definition.

 

“Insurance
Premiums” shall have the meaning in Section 6.04.

 

“Law(s)”
means any constitution, statute, rule of law, code, ordinance, order, judgment, decree, injunction, rule, regulation, policy, requirement
or administrative or judicial determination, even if unforeseen or extraordinary, of every duly constituted Governmental Authority,
court or agency, now or hereafter enacted or in effect.

 

“Lease Rate”
means a percentage equal to (a) the then-current Base Monthly Rental multiplied by twelve (12), divided by (b) the aggregate
purchase price of all of the Properties paid by Lessor (or Lessor’s predecessor-in-interest).

  

“Lease Term”
shall have the meaning described in Section 3.01.

 

“Legal Requirements”
means the requirements of all present and future Laws (including, without limitation, Environmental Laws and Laws relating to accessibility
to, usability by, and discrimination against, disabled individuals), all judicial and administrative interpretations thereof, including
any judicial order, consent, decree or judgment, and all covenants, restrictions and conditions now or hereafter of record which
may be applicable to Lessee or to any of the Properties, or to the use, manner of use, occupancy, possession, operation, maintenance,
alteration, repair or restoration of any of the Properties, even if compliance therewith necessitates structural changes or improvements
or results in interference with the use or enjoyment of any of the Properties.

 

“Lender”
means any lender in connection with any loan secured by Lessor’s interest in any or all of the Properties, and any servicer
of any loan secured by Lessor’s interest in any or all of the Properties.

 

“Lessee Entity”
or “Lessee Entities” means individually or collectively, as the context may require, Lessee and Guarantor, and
all Affiliates thereof.

 

“Lessor Entity”
or “Lessor Entities” means individually or collectively, as the context may require, Lessor and all Affiliates
of Lessor.

 

“Losses”
means any and all claims, suits, liabilities (including, without limitation, strict liabilities), actions, proceedings, obligations,
debts, damages, losses, Costs, diminutions in value, fines, penalties, interest, charges, fees, judgments, awards, amounts paid
in settlement and damages of whatever kind or nature, inclusive of bodily injury and property damage to third parties (including,
without limitation, attorneys’ fees and other Costs of defense).

 

“Material
Adverse Effect” means a material adverse effect on (a) the Property, including, without limitation, the operation
of the Properties as Permitted Facilities and/or the value of the Properties; (b) the contemplated business, condition, worth
or operations of any Lessee Entity; (c) Lessee’s ability to perform its obligations under this Lease; (d) Lessor’s
interests in any of the Properties, this Lease or the other Transaction Documents; or (e) any Guarantor’s ability to
perform its obligations under the Guaranty.

 

“Monetary
Obligations” means all Rental and all other sums payable or reimbursable by Lessee under this Lease to Lessor, to any
third party on behalf of Lessor, or to any Indemnified Party.

 

“Mortgages”
means, collectively, the mortgages, deeds of trust or deeds to secure debt, assignments of rents and leases, security agreements
and fixture filings executed by Lessor for the benefit of Lender with respect to any or all of the Properties, as such instruments
may be amended, modified, restated or supplemented from time to time and any and all replacements or substitutions.

 

“Net Award”
means (a) the entire award payable with respect to a Property by reason of a Condemnation whether pursuant to a judgment or
by agreement or otherwise; or (b) the entire proceeds of any insurance required under Section 6.03 payable with respect
to a Property, as the case may be, and in either case, less any Costs incurred by Lessor in collecting such award or proceeds.

 

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“OFAC Laws”
means Executive Order 13224 issued by the President of the United States, and all regulations promulgated thereunder, including,
without limitation, the Terrorism Sanctions Regulations (31 CFR Part 595), the Terrorism List Governments Sanctions Regulations
(31 CFR Part 596), the Foreign Terrorist Organizations Sanctions Regulations (31 CFR Part 597), and the Cuban Assets Control Regulations
(31 CFR Part 515), and all other present and future federal, state and local laws, ordinances, regulations, policies, lists (including,
without limitation, the Specially Designated Nationals and Blocked Persons List) and any other requirements of any Governmental
Authority (including without limitation, the U.S. Department of the Treasury Office of Foreign Assets Control) addressing, relating
to, or attempting to eliminate, terrorist acts and acts of war, each as supplemented, amended or modified from time to time after
the Effective Date, and the present and future rules, regulations and guidance documents promulgated under any of the foregoing,
or under similar laws, ordinances, regulations, policies or requirements of other states or localities.

 

“Other Agreements”
means, collectively, all agreements and instruments now or hereafter entered into between, among or by (a) any of the Lessee
Entities; and, or for the benefit of, (b) any of the Lessor Entities, including, without limitation, leases, promissory notes
and guaranties, but excluding this Lease and all other Transaction Documents.

 

“Partial Condemnation”
has the meaning set forth in Section 11.03.

 

“Permitted
Amounts” shall mean, with respect to any given level of Hazardous Materials or Regulated Substances, that level or quantity
of Hazardous Materials or Regulated Substances in any form or combination of forms which does not constitute a violation of any
Environmental Laws and is customarily employed in, or associated with, similar businesses located in the states where the Properties
are located.

 

“Permitted
Facility” or Permitted Facilities” means a Fat Patty’s restaurant and all related purposes such as ingress,
egress and parking, and uses incidental thereto.

 

“Permitted Subleases”
has the meaning set forth in Section 14.05.

 

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

 

“Personalty”
has the meaning set forth in Section 16.01.

 

“Price Index”
means the Consumer Price Index which is designated for the applicable month of determination as the United States City Average
for All Urban Consumers, All Items, Not Seasonally Adjusted, with a base period equaling 100 in 1982 - 1984, as published by the
United States Department of Labor’s Bureau of Labor Statistics or any successor agency. In the event that the Price Index
ceases to be published, its successor index measuring cost of living as published by the same Governmental Authority which published
the Price Index shall be substituted and any necessary reasonable adjustments shall be made by Lessor and Lessee in order to carry
out the intent of Section 4.02. In the event there is no successor index measuring cost of living, Lessor shall reasonably select
an alternative price index measuring cost of living that will constitute a reasonable substitute for the Price Index.

 

“Property”
or “Properties” means those parcels of real estate legally described on Exhibit B attached hereto,
all rights, privileges, and appurtenances associated therewith, and all buildings, fixtures and other improvements now or hereafter
located on such real estate (whether or not affixed to such real estate).

 

“Real Estate
Taxes” has the meaning set forth in Section 6.04.

 

“Regulated
Substances” means “petroleum” and “petroleum-based substances” or any similar terms described
or defined in any of the Environmental Laws and any applicable federal, state, county or local laws applicable to or regulating
USTs.

 

“REIT”
means a real estate investment trust as defined under Section 856 of the Code.

 

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

 

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

 

“Renewal Term”
has the meaning set forth in Section 3.02.

 

“Rental”
means, collectively, the Base Annual Rental and the Additional Rental.

 

“Rental Adjustment”
means an amount equal to the lesser of (a) 1.75% of the Base Annual Rental in effect immediately prior to the applicable Adjustment
Date, or (b) 1.25 multiplied by the product of (i) the percentage change between the Price Index for the month which is two months
prior to the Effective Date or the Price Index used for the immediately preceding Adjustment Date, as applicable, and the Price
Index for the month which is two months prior to the applicable Adjustment Date; and (ii) the then current Base Annual Rental.

 

“Requisition”
means any temporary requisition or confiscation of the use or occupancy of any of the Properties by any Governmental Authority,
civil or military, whether pursuant to an agreement with such Governmental Authority in settlement of or under threat of any such
requisition or confiscation, or otherwise.

 

“Reserve”
shall have the meaning in Section 6.04.

 

“Securities”
has the meaning set forth in Section 17.11.

 

“Securities
Act” means of the Securities Act of 1933, as amended.

 

“Securitization”
has the meaning set forth in Section 17.11.

 

“SNDA”
means subordination, nondisturbance and attornment agreement.

 

“Successor
Lessor” has the meaning set forth in Section 13.04.

 

“Taking”
means (a) any taking or damaging of all or a portion of the Properties (i) in or by condemnation or other eminent domain
proceedings pursuant to any Law, general or special; (ii) by reason of any agreement with any condemnor in settlement of or
under threat of any such condemnation or other eminent domain proceeding; or (iii) by any other means; or (b) any de
facto condemnation. The Taking shall be considered to have taken place as of the later of the date actual physical possession is
taken by the condemnor, or the date on which the right to compensation and damages accrues under the law applicable to the Properties.

 

“Temporary
Taking” has the meaning set forth in Section 11.04.

 

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

 

“Total Condemnation”
has the meaning set forth in Section 11.02.

 

“Transaction”
has the meaning set forth in Section 14.01.

 

“Transaction
Documents” means this Lease, the Guaranty and all documents related thereto.

 

“U.S. Publicly
Traded Entity” means an entity whose securities are listed on a national securities exchange or quoted on an automated
quotation system in the United States or a wholly-owned subsidiary of such an entity.

 

“USTs”
means any one or combination of tanks and associated product piping systems used in connection with storage, dispensing and general
use of Regulated Substances.

 

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EXHIBIT
B

LEGAL DESCRIPTIONS AND

STREET ADDRESSES OF THE PROPERTIES

 

Street Addresses:

 

1442 Winchester Ave., Ashland,
KY

 

4156 State Route 34, Hurricane,
WV

 

3401 US Route 60 East, Barboursville,
WV

 

1935, 1929-33 and 1921 3rd Ave.,
Huntington, WV

 

Legal Descriptions:

 

1442 Winchester Ave., Ashland, KY:

 

The Land referred to herein below is situated
in the County of Boyd, State of Kentucky, and is described as follows:

 

SITUATED IN ASHLAND, BOYD COUNTY, KENTUCKY,
AND BEING A PORTION OF LOT NO. 15, RANGE 3 WEST, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT THE SOUTHWEST CORNER OF WINCHESTER
AVENUE AT 15TH STREET AND EXTENDING WESTERLY WITH THE EASTERLY LINE OF SAID WINCHESTER AVENUE AND FRONTING 50.25 FEET TO A STAKE
A CORNER TO THAT PORTION OF LOT NO. 16 OWNED BY LORETTA M. HELFRICH; THENCE AT RIGHT ANGLES SOUTHERLY 104.5 FEET, MORE OR LESS,
TO THE SOUTHERLY SIDE OF THE SOUTHERLY WALL OF MCCLEARY BUILDING CONSTRUCTED UPON SAID PREMISES, A CORNER TO THE PROPERTY OF JEAN
C. LAYNE; THENCE AT RIGHT ANGLES AND WITH THE SAME EASTERLY 50.25 FEET TO THE WESTERLY LINE OF 15TH STREET AFORESAID; THENCE AT
RIGHT ANGLES NORTHERLY AND WITH SAID LINE OF 15TH STREET, 104.5 FEET, MORE OR LESS, TO WINCHESTER AVENUE AT THE CORNER OF BEGINNING.

 

BEING ALSO DESCRIBED AS FOLLOWS:

 

BEGINNING AT A POINT LOCATED ON THE SOUTHERLY
RIGHT-OF-WAY LINE OF WINCHESTER AVENUE AND THE WESTERLY RIGHT-OF-WAY LINE OF 15TH STREET; THENCE RUN S31°45'21"W ALONG
THE NORTHWEST RIGHT-OF-WAY LINE OF 15TH STREET A DISTANCE OF 104.58' TO A POINT, MORE OR LESS, TO THE SOUTHERLY SIDE OF A WALL,
BEING THE SOUTH OF THE MCCLEARY BUILDING CONSTRUCTED UPON SAID PREMISES; THENCE LEAVING SAID RIGHT-OF-WAY LINE RUNNING NORTHWEST
N58°09'26"W A DISTANCE OF 50.37' ALONG SAID SOUTH WALL TO A POINT BEING THE CORNER OF THE BUILDING; THENCE RUN N31°46'10"E
A DISTANCE OF 104.50' TO A POINT LOCATED ON THE SOUTHERLY RIGHT-OF-WAY LINE OF WINCHESTER AVE, SAID POINT BEING THE CORNER OF THE
BUILDING; THENCE ALONG THE NORTH LINE OF SAID BUILDING RUNNING S58°14'39"E ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE A DISTANCE
OF 50.35' TO THE POINT OF BEGINNING, CONTAINING AN AREA OF 5,264.45 SQUARE FEET, 0.121 ACRES MORE OR LESS.

 

Being the same premises conveyed to Fat
Patty’s, LLC, a Limited Liability Company, by General Warranty Deed dated December 7, 2011, and recorded December 12, 2011
Deed Book 741, at page 784, Boyd County, Kentucky Clerk’s Records.

 

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4156 State Route 34, Hurricane, WV:

 

PARCEL I:

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA, TOGETHER WILL ALL BUILDINGS AND PERMANENT IMPROVEMENTS THEREON OR THEREUNTO
BELONGING, AS SHOWN ON THE SUBDIVISION PLAT RECORDED IN PLAT CABINET C,

 

SLIDE 482, IN THE OFFICE OF THE CLERK OF
THE COUNTY COMMISSION OF PUTNAM COUNTY, WEST VIRGINIA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT A 2" IRON PIPE, FOUND,
SAID PIPE BEING COMMON WITH THE SOUTHWEST CORNER OF A PARCEL CONVEYED TO GARY E. ELLIS AND BETTY L. ELLIS BY FLOYD C. HANKINS,
WIDOWER, BY DEED DATED JUNE 3, 1969, OF RECORD IN THE AFORESAID CLERK'S OFFICE. FURTHER BEING THE SAME PARCEL CONVEYED TO GO-MART,-
INC. BY GARY E. ELLIS AND BETTY L, ELLIS BY DEED DATED SEPTEMBER 21, 1994 AND RECORDED IN DEED BOOK 359, PAGE 444; AND A CORNER
WITHIN THE BOUNDARY OF A PARCEL CONVEYED TO GO-MART INC. BY DEED DATED DECEMBER 1, 1989, RECORDED IN DEED BOOK 322, PAGE 342. CORNER
ALSO FURTHER BEING THE SOUTHEAST CORNER OF THE PARCEL HEREIN DESCRIBED.

 

THENCE ALONG NEW LINES THROUGH THE SAID
PROPERTY OF GO-MART, INC., SOUTH 82° 32 FEET 00" WEST, 24.00 FEET TO A 1 - 114" IRON PIPE WITH CAP, SET

 

THENCE NORTH 84° 45' 00" WEST,
237.15 FEET TO A. 1 - 1/4' IRON PIPE WITH CAP, SET, SAID POINT BEING THE SOUTHWEST CORNER OF THE PARCEL HEREIN DESCRIBED.

 

THENCE NORTH 05°15' 00" EAST,
236.25 FEET TO A 1 - 1/4" IRON PIPE WITH CAP, SET IN THE SOUTHERN RIGHT-OF-WAY OF INTERSTATE ROUTE 64, FEDERAL PROJECT NUMBER
1-64-1 (20) 35, SAID LINE BEING PARALLEL WITH AND 100 FEET SOUTH OF THE BASELINE OF "RAMP C" OF SAID INTERSTATE PROJECT
AND COMMON TO THE NORTHERLY LINE OF THE GO-MART, INC. PARENT PARCEL, SAID POINT FURTHER BEING THE NORTHWEST CORNER OF THE PARCEL
HEREIN DESCRIBED.

 

THENCE WITH A CURVE TO THE RIGHT HAVING
A RADIUS OF 2764.79 AND AN ARC LENGTH OF 218.29 FEET, SUBTENDED BY A -CHORD OF SOUTH 69° 51' 27" EAST, 218.24 FEET TO
A 1 - 114' IRON PIPE WITH CAP, SET IN SAID 1-64 SOUTHERLY RIGHT-OF-WAY LINE.

 

THENCE CONTINUING WITH SAID 1-64 RIGHT-OF-WAY
LINE SOUTH 67° 35'42" EAST, 16.16 FEET TO A 1- 1/4" IRON PIPE WITH CAP, SET, SAID POINT BEING THE NORTHEAST CORNER
OF THE PARCEL HEREIN DESCRIBED AND THE NORTHWEST CORNER OF THE FORMER ELLIS PARCEL.

 

THENCE LEAVING SAID 1-64 RIGHT-OF-WAY LINE
WITH A LINE COMMON TO THE FORMER ELLIS PARCEL AND THE PARCEL HEREIN DESCRIBED SOUTH 06° 07' 24" EAST, 173.52 FEET TO THE
PLACE OF BEGINNING.

 

BEING ALSO DESCRIBED AS FOLLOWS:

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA, TOGETHER WILL ALL BUILDINGS AND PERMANENT IMPROVEMENTS THEREON OR THEREUNTO
BELONGING, AS SHOWN ON THE SUBDIVISION PLAT RECORDED IN PLAT CABINET C, SLIDE 482, IN THE OFFICE OF THE CLERK OF THE COUNTY COMMISSION
OF PUTNAM COUNTY, WEST VIRGINIA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT A IRON PIN SET WITH CAP, SAID
PIN BEING COMMON WITH THE SOUTHWEST CORNER OF A PARCEL CONVEYED TO GARY E. ELLIS AND BETTY L. ELLIS BY FLOYD C. HANKINS, WIDOWER,
BY DEED DATED JUNE 3, 1969, OF RECORD IN THE AFORESAID CLERK'S OFFICE. FURTHER BEING THE SAME PARCEL CONVEYED TO GO-MART,- INC.
BY GARY E. ELLIS AND BETTY L, ELLIS BY DEED DATED SEPTEMBER 21, 1994 AND RECORDED IN DEED BOOK 359, PAGE 444; AND A CORNER WITHIN
THE BOUNDARY OF A PARCEL CONVEYED TO GO-MART INC. BY DEED DATED DECEMBER 1, 1989, RECORDED IN DEED BOOK 322, PAGE 342. CORNER ALSO
FURTHER BEING THE SOUTHEAST CORNER OF THE PARCEL HEREIN DESCRIBED.

 

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STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

THENCE ALONG LINES THROUGH THE SAID PROPERTY
OF GO-MART, INC., S 83° 08' 43" W, 24.00 FEET TO AN IRON PIN SET WITH CAP.

 

THENCE N 84° 08' 17" W, 237.15
FEET TO IRON PIN SET WITH CAP, SAID POINT BEING THE SOUTHWEST CORNER OF THE PARCEL HEREIN DESCRIBED.

 

THENCE N 05° 51' 43" E, 236.25
FEET TO AN IRON PIPE FOUND WITH CAP IN THE SOUTHERN RIGHT-OF-WAY OF INTERSTATE ROUTE 64, FEDERAL PROJECT NUMBER 1-64-1 (20) 35,
SAID LINE BEING PARALLEL WITH AND 100 FEET SOUTH OF THE BASELINE OF "RAMP C" OF SAID INTERSTATE PROJECT AND COMMON TO
THE NORTHERLY LINE OF THE GO-MART, INC. PARENT PARCEL, SAID POINT FURTHER BEING THE NORTHWEST CORNER OF THE PARCEL HEREIN DESCRIBED.

 

THENCE WITH A CURVE TO THE RIGHT HAVING
A RADIUS OF 2764.79 AND AN ARC LENGTH OF 218.29 FEET, SUBTENDED BY A -CHORD OF S 69° 14' 44" E, 218.24 FEET TO AN IRON
PIPE FOUND WITH CAP IN SAID 1-64 SOUTHERLY RIGHT-OF-WAY LINE.

 

THENCE CONTINUING WITH SAID 1-64 RIGHT-OF-WAY
LINE S 66° 58' 59" E, 16.16 FEET TO POINT (IRON PIPE FOUND NORTH 0.66 FEET AND 0.2'0 FEET WEST OF SAID POINT) , SAID POINT
BEING THE NORTHEAST CORNER OF THE PARCEL HEREIN DESCRIBED AND THE NORTHWEST CORNER OF THE FORMER ELLIS PARCEL.

 

THENCE LEAVING SAID 1-64 RIGHT-OF-WAY LINE
WITH A LINE COMMON TO THE FORMER ELLIS PARCEL AND THE PARCEL HEREIN DESCRIBED S 05° 30' 33" E,173.52 FEET TO THE PLACE
OF BEGINNING.

 

CONTAINING 1.1334 ACRES MORE OR LESS

  

PARCEL II:

 

ALL EASEMENTS ACCRUING TO PARCEL I GRANTED
IN THAT CERTAIN DEED FROM GO-MART, INC. TO SHONEY'S, INC. DATED AUGUST 31, 1995, AND RECORDED IN THE AFORESAID CLERK'S OFFICE IN
DEED BOOK 367, PAGE 540, INCLUDING, WITHOUT LIMITATION, A PERMANENT, NON-EXCLUSIVE RIGHT OF WAY AND EASEMENT FOR VEHICULAR AND
PEDESTRIAN ACCESS, INGRESS AND EGRESS OVER, ACROSS, UPON AND UNDER THE FOLLOWING DESCRIBED PROPERTY:

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT A POINT IN THE WESTERLY RIGHT-OF-WAY
LINE OF WV ROUTE 34, SAID POINT BEING THE SOUTHEASTERLY CORNER OF THE ROBERT S. DUCKWORTH PARCEL, OF RECORD IN THE AFORESAID CLERK'S
OFFICE, IN DEED BOOK 319, PAGE 71, OCCUPIED BY THE CHEVRON OIL CO., SAID POINT FURTHER BEING A COMMON CORNER BETWEEN THE AFORESAID
PARCEL AND THE EASEMENT HEREIN DESCRIBED.

 

THENCE WITH THE SAID ROUTE 34 WESTERLY
RIGHT-OF-WAY LINE SOUTH 26°35 12" WEST, 60.0 FEET TO A POINT IN SAID RIGHT-OF-WAY.

 

THENCE LEAVING SAID RIGHT-OF-WAY AT RIGHT
ANGLE IN A NORTHWESTERLY DIRECTION AND PARALLEL WITH AND 25.0 FEET LEFT OF THE ENTRANCE ROAD CENTERLINE NORTH 63°24' 48"
WEST, CROSSING THE LOOP ROAD CENTERLINE AT 185.0 FEET AND CONTINUING FOR A TOTAL OF 220.0 FEET TO A POINT, SAID POINT BEING 35.0
FEET LEFT OF AND AT RIGHT ANGLE TO LOOP ROAD CENTERLINE STATION 10+23.0.

 

THENCE WITH A LINE PARALLEL WITH AND 35.0
FEET LEFT OF THE LOOP ROAD CENTERLINE NORTH 26°35' 12" EAST, 23.88 FEET TO A POINT, SAID POINT BEING 35.0 FEET LEFT OF
AND AT RIGHT ANGLE TO LOOP ROAD CENTERLINE STATION 10+46.884;

 

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STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

THENCE WITH A RIM PARALLEL WITH SAID CENTERLINE
NORTH 22°56' 07" EAST, 177.37 FEET TO A POINT, SAID POINT BEING 35.0 FEET LEFT OF AND AT RIGHT ANGLE TO LOOP ROAD CENTERLINE
P. C. STATION 12+26.49.

 

THENCE RADIALLY LEFT WITH A CURVE HAVING
A RADIUS OF 28.0 FEET, A CURVE LENGTH OF 52.62 FEET AND A CORD OF NORTH 30°54' 26" WEST 45.21 FEET TO A POINT, SAID POINT
BEING 35.0 FEET LEFT OF AND AT RIGHT ANGLE TO LOOP ROAD CENTERLINE PT. STATION 13+44.89.

 

THENCE CONTINUING PARALLEL WITH SAID CENTERLINE
NORTH 84° 45' 00" WEST, 52.18 FEET TO A POINT, SAID POINT BEING 35.0 FEET LEFT OF AND AT RIGHT ANGLE TO LOOP ROAD CENTERLINE
STATION 13+97.069.

 

THENCE WITH A LINE AT RIGHT ANGLE TO LOOP
ROAD CENTERLINE NORTH 05° 15' 00" EAST, CROSSING SAID CENTERLINE AT 35.0 FEET AND CONTINUING FOR A TOTAL OF 60.0 FEET
TO A POINT IN THE SOUTHERLY PROPERTY LINE OF THE 1.148 ACRE PARCEL CONVEYED TO SHONEY'S, INC. BY GO-MART, INC. BY DEED RECORDED
IN THE AFORESAID CLERK'S OFFICE IN DEED BOOK 367, PAGE 540.

 

THENCE WITH SAID PARCEL LINE, PARALLEL
TO AND 25.0 FEET RIGHT OF THE LOOP ROAD CENTERLINE SOUTH 84°45' 00" EAST, 72.38 FEET TO A POINT, SAID POINT BEING A CORNER
IN THE AFORESAID PARCEL CONVEYED TO SHONEY'S, INC. BY GO-MART, INC.

 

THENCE CONTINUING WITH THE SOUTHERLY LINE
OF THE AFORESAID PARCEL LINE NORTH 82°32' 00" EAST, 24.0 FEET TO A POINT, SAID POINT BEING THE SOUTHEAST CORNER OF SAID
PARCEL.

 

THENCE LEAVING THE CORNER OF THE AFORESAID
PARCEL SOUTH 30° 18' 49" WEST, 14.98 FEET TO A POINT, SAID POINT BEING 25.0 FEET RADIALLY RIGHT OF LOOP ROAD CENTERLINE
STATION 13+17.33.

 

THENCE PARALLEL WITH SAID CENTERLINE
RADIALLY RIGHT WITH A CURVE HAVING A RADIUS OF 88.0 FEET, A CURVE LENGTH OF 126.90 FEET AND A CORD OF SOUTH 18° 22'
32" EAST, 116.19 FEET TO A POINT; SAID POINT BEING AT RIGHT ANGLE TO AND 25.0 FEET RIGHT OF LOOP ROAD CENTERLINE P. C.
STATION 12+26.49.

 

THENCE CONTINUING PARALLEL WITH AND 25.0
FEET RIGHT OF SAID CENTERLINE SOUTH 22° 56' 07" WEST, 135.01 FEET TO A POINT, SAID POINT BEING AT RIGHT ANGLE TO AND 25.0
FEET RIGHT OF SAID LOOP ROAD CENTERLINE STATION 10+91.475.

 

THENCE SOUTH 20°14' 20" EAST,
14.59 FEET TO A POINT, SAID POINT BEING AT RIGHT ANGLE TO AND 35.0 FEET RIGHT OF ENTRANCE ROAD CENTERLINE STATION 11+94.93.

 

THENCE PARALLEL WITH AND 35.0 FEET RIGHT
OF ENTRANCE ROAD CENTERLINE SOUTH 63°24' 48" EAST, 152.18 FEET TO THE POINT OF BEGINNING AND CONTAINING 31,711045 SQUARE
FEET OR 0.728 ACRES, MORE OR LESS.

 

PARCEL III:

 

ALL EASEMENTS ACCRUING TO PARCEL I GRANTED
IN THAT CERTAIN DEED FROM GO-MART, INC. TO SHONEY'S, INC. DATED AUGUST 31, 1995, AND RECORDED IN THE AFORESAID CLERK'S OFFICE IN
DEED BOOK 367, PAGE 540, INCLUDING, WITHOUT LIMITATION, A TEMPORARY GRADING AND SLOPE EASEMENT FOR PURPOSES OF CONSTRUCTING, MAINTAINING
AND IMPROVING A SURFACE WATER DRAINAGE DITCH AND APPROPRIATE DRAINAGE ELEVATION CONTOURS FOR SURFACE WATER RUN-OFF AND DRAINAGE
OVER AND ACROSS THE FOLLOWING DESCRIBED PROPERTY (THE 'WESTERN STRIP"):

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT A POINT IN THE SOUTHERLY RIGHT-OF-WAY
LINE OF INTERSTATE 64, SAID POINT BEING THE NORTHWESTERN CORNER OF A 1.148 ACRE PARCEL CONVEYED TO SHONEY'S, INC. BY GO-MART, INC.
BY DEED RECORDED IN THE AFORESAID CLERK'S OFFICE IN DEED BOOK 367, PAGE 540.

 

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STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

THENCE LEAVING SAID SOUTHERLY RIGHT-OF-WAY
LINE AND WITH THE WESTERN LINE OF THE SAID 1.148 ACRE PARCEL, SOUTH 05° 15' 00" WEST, 236.25 FEET TO THE SOUTHWEST CORNER
OF SAID 1.148 ACRE PARCEL.

 

THENCE LEAVING SAID PARCEL WESTERLY LINE
AT RIGHT ANGLE NORTH 84°45' 00" WEST, 20.0 FEET TO A POINT.

 

THENCE PARALLEL WITH AND 20.0 FEET WEST
OF SAID WESTERLY LINE, NORTH 05°15' 00" EAST, 240.65 FEET TO A POINT IN THE SOUTHERLY RIGHT-OF-WAY LINE OF INTERSTATE
64.

 

THENCE WITH SAID SOUTHERLY RIGHT-OF-WAY
LINE WITH A CURVE TO THE RIGHT HAVING A RADIUS OF 2764.79 FEET, LENGTH OF 20.48 FEET AND CHORD HEARING 72°19' 53" EAST,
20.48 FEET TO THE POINT OF BEGINNING AND CONTAINING 0.1095 ACRES MORE OR LESS.

 

PARCEL IV:

 

ALL EASEMENTS ACCRUING TO PARCEL I GRANTED
IN THAT CERTAIN DEED FROM GO-MART, INC, TO SHONEY'S, INC. DATED AUGUST 31, 1995, AND RECORDED IN THE AFORESAID CLERK'S OFFICE IN
DEED BOOK 367, PAGE 540, INCLUDING, WITHOUT LIMITATION, THE PERMANENT RIGHT TO "SHEET DRAIN" SURFACE WATER ALONG THE
ENTIRE WESTERN BOUNDARY OF PARCEL I ONTO THE ADJACENT PROPERTY.

 

PARCEL V:

 

ALL EASEMENTS ACCRUING TO PARCEL I GRANTED
IN THAT CERTAIN DEED FROM GO-MART. INC. TO SHONEY'S, INC. DATED AUGUST 31, 1995, AND RECORDED IN THE AFORESAID CLERK'S OFFICE
IN DEED BOOK 367, PAGE 540, INCLUDING, WITHOUT LIMITATION, A PERMANENT, NON-EXCLUSIVE RIGHT OF WAY AND EASEMENT FOR THE DRAINAGE
OF SURFACE WATER OVER AND ACROSS THE FOLLOWING DESCRIBED PROPERTY:

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT THE SOUTHEAST CORNER OF THE
1.148 ACRE PARCEL CONVEYED TO SHONEY'S, INC., BY GO-MART, INC. BY DEED RECORDED IN THE AFORESAID CLERK'S OFFICE IN DEED BOOK 367,
PAGE 540, OFFICE OF THE CLERK OF THE COUNTY COMMISSION FOR PUTNAM COUNTY, WEST VIRGINIA.

 

THENCE LEAVING THE SOUTHERLY LINE OF THE
SAID 1.148 ACRE PARCEL WITH THE EASTERLY LINE OF THE SAID PARCEL, SOUTH 06°07' 24" EAST, 15.00 FEET TO A POINT.

 

THENCE WITH A LINE PARALLEL WITH AND 15.0
FEET SOUTH OF THE SAID PARCEL SOUTHERLY LINE SOUTH 82°32' 00" WEST, 25.32 FEET TO A POINT.

 

THENCE NORTH 84°45' 00" WEST,
2.58.82 FEET TO A POINT.

 

THENCE LEAVING THE PREVIOUS LINE AT RIGHT
ANGLE, NORTH 05°15' 00" EAST, 15.0 FEET TO A POINT, SAID POINT BEING THE SOUTHWEST CORNER OF THE WESTERN STRIP DESCRIBED
ABOVE.

 

THENCE WITH THE SOUTHERN LINE OF SUCH WESTERN
STRIP, SOUTH 84°45' 00" EAST, 20.00 FEET TO A POINT, SAID POINT BEING THE SOUTHEAST CORNER OF SUCH WESTERN STRIP AND FURTHER
BEING THE SOUTHWEST CORNER OF THE SAID 1.148 ACRE PARCEL.

 

THENCE WITH THE SOUTHERLY LINE OF SAID
1.148 ACRE PARCEL SOUTH 84° 45' 00" EAST, 237.15 FEET TO A POINT.

 

THENCE WITH THE SOUTHERLY LINE NORTH 82°32'
00" EAST, 24.00 FEET TO THE POINT OF BEGINNING AND CONTAINING 0.0973 ACRES, MORE OR LESS.

 

PARCEL VI:

 

ALL EASEMENTS ACCRUING TO PARCEL I GRANTED
IN THAT CERTAIN DEED FROM GO-MART, INC. TO SHONEY'S, INC. DATED AUGUST 31, 1995, AND RECORDED IN THE AFORESAID CLERK'S OFFICE IN
DEED BOOK 367, PAGE 540, INCLUDING, WITHOUT LIMITATION, THE FOLLOWING:

 

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STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

EASEMENT A:

 

A PERMANENT RIGHT OF WAY AND EASEMENT TO
GRADE AND MAINTAIN SURFACE SLOPES OVER AND ACROSS THE FOLLOWING DESCRIBED PROPERTY (THE "SLOPE AREA"):

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT A POINT IN THE SOUTHERLY RIGHT-OF-WAY
LINE OF INTERSTATE 64, SAID POINT BEING THE NORTHEAST CORNER OF A 1.148 ACRE PARCEL CONVEYED TO SHONEY'S, INC. BY GO-MART, INC.
BY DEED RECORDED IN THE AFORESAID CLERK'S OFFICE IN DEED BOOK 367, PAGE 540.

 

THENCE WITH SAID 1-64 RIGHT-OF-WAY LINE,
SOUTH 67°42'18" EAST, 5.69 FEET TO A POINT IN SAID RIGHT-OF-WAY LINE.

 

THENCE LEAVING SAID RIGHT-OF-WAY LINE PARALLEL
WITH THE EASTERLY LINE OF THE SAID 1.148 ACRE PARCEL; SOUTH 06°07'24" EAST, 55.46 FEET TO A POINT

 

THENCE NORTH 83°52'36" EAST, 10.00
FEET TO A POINT.

 

THENCE SOUTH 06°07'24" EAST, 115.0
FEET TO A POINT.

 

THENCE SOUTH 82°32'00" WEST 15.00
FEET TO A POINT, SAID POINT BEING, THE SOUTHEAST CORNER OF THE SAID 1.148 ACRE PARCEL.

 

THENCE WITH THE EASTERLY LINE OF THE 1.148
ACRE TRACT NORTH 06°07'24" WEST, 173.52 FEET TO THE POINT OF BEGINNING.

 

EASEMENT B:

 

A PERMANENT, NON-EXCLUSIVE DRAINAGE EASEMENT
OVER AND ACROSS THE SLOPE AREA.

 

PARCEL VII:

 

ALL EASEMENTS ACCRUING TO PARCEL I GRANTED
IN THAT CERTAIN DEED FROM GO-MART. INC. TO SHONEY'S, INC. DATED AUGUST 31, 1995, AND RECORDED IN THE AFORESAID CLERK'S OFFICE
IN DEED BOOK 367, PAGE 540, INCLUDING, WITHOUT LIMITATION, A PERMANENT, NON-EXCLUSIVE RIGHT OF WAY AND EASEMENT TO DRAIN ALL OF
THE SURFACE WATER FROM PARCEL I TO WV ROUTE 34 OVER AND ACROSS THE FOLLOWING DESCRIBED PROPERTY:

 

ALL THAT CERTAIN TRACT OR PARCEL OF LAND
SITUATED IN SCOTT DISTRICT, PUTNAM COUNTY, WEST VIRGINIA, SAID TRACT OR PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT THE SOUTHEAST CORNER OF THE
1.148 ACRE PARCEL CONVEYED TO SHONEY'S, INC. BY GO-MART, INC. BY DEED RECORDED IN THE AFORESAID CLERK'S OFFICE IN DEED BOOK 367,
PAGE 540.

 

THENCE WITH THE EASTERLY LINE OF THE AFORESAID
1.148 ACRE PARCEL TO A POINT IN THE SOUTHERLY RIGHT-OF-WAY LINE OF INTERSTATE 64.

 

THENCE WITH THE SOUTHERLY RIGHT-OF-WAY
LINE OF 1-64 TO A POINT IN THE WESTERN RIGHT-OF-WAY LINE OF WV ROUTE 34.

 

THENCE WITH THE ROUTE 34 RIGHT-OF-WAY LINE
OF 1-64 TO A POINT IN SAID RIGHT-OF-WAY, SAID POINT BEING THE NORTHEAST CORNER OF THE CARL W. SLATER, ET AL PROPERTY, WILL BOOK
24, PAGE 538, TAX MAP 213, PARCEL 78.1.

 

THENCE WITH THE NORTHERN LINE OF THE SLATER
TRACT TO THE POINT OF BEGINNING AND BEING THE SAME 0.627 ACRE PARCEL CONVEYED TO GO-MART, INC. BY GARY E. AND BETTY L. ELLIS, BY
DEED RECORDED IN THE AFORESAID CLERK'S OFFICE IN DEED BOOK 0359, PAGE 444, AND SHOWN ON TAX MAP NO. 213 AS PARCEL NO. 59.

 

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STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

3401 US Route 60 East, Barboursville,
WV:

 

All that real estate situate in Barboursville
District, Cabell County, West Virginia, and being more particularly described as follows:

 

Beginning, for reference purposes only,
at a 5/8” x 30” reinforcing bar with survey cap stamped “L.L.S. 278”, set by this survey in the southerly
terminus of the common line of Southside Associates as recorded in Deed Book 884 Page 536 all recorded in the Office of the Clerk
of the County Commission of Cabell County, West Virginia, with Jack, Robert, Keith G. Donahue, the grantors herein, as recorded
in Deed Book 918 Page 610 and being in the northerly right of way line of U.S. Route 60 East; thence from the beginning, with said
right of way along a curve to the right, radius 2356.79 feet, an arc distance of 287.76 feet, chord N. 81 03’ 36” W
287.59 feet to a point; thence continuing with said right of way N 86 00” 26” E. 6.41 feet to the True Place of Beginning
for this description; thence from Said True Place of Beginning, leaving said right of way and traversing Jack, Robert and Keith
G. Donahue, the grantors herein, N. 08 35’ 15” W. 287.65 feet to a point in the Board of Education as recorded in Deed
Book 609 Page 556; thence with said Board of Education, S 85 51’ 44” E. 141.41 feet to a pipe; thence leaving said
Board of Education the following five (5) courses and distances; (1) S. 21 54’ 00” E. 104.96 feet; (2) S. 16 16’
00” W. 75.94 feet; (3) S. 00 24’ 00” E., 32.98 feet; (4) S. 16 39’ 00” E. 30.00 feet; (5) S. 16 39’
00” E. 34.47 feet to a point in the aforementioned right of way of U.S. Route 60 East; thence with said right of way, S.
86 56’ 00” W. 69.96 feet; thence continuing with said right of way S. 85 11’ 37” W. 65.04 feet to the place
of beginning, containing 0.900 acre.

 

BEING ALSO DESCRIBED AS FOLLOWS:

 

Beginning, for reference purposes only,
in the southerly terminus of the common line of Southside Associates as recorded in Deed Book 884, Page 536, all recorded in the
Office of the Clerk of the County Commission of Cabell County, West Virginia, as recorded in Deed Book 918, Page 610, and being
in the northerly right of way line of U. S. Route 60, East; thence from the beginning, with said right of way, along a curve to
the right, radius 2356.79 feet, an arc distance of 287.76 feet, chord N 89° 02' 03 " E, 287.59 feet to a point; thence
continuing with said right of way, N 89° 54' 32" E., 6.41 feet to the True Place of Beginning for this description; thence
from Said True Place of Beginning, leaving said right of way, with the East line of C. Douglas & Barry L. Knipp, as recorded
in Deed Book 1295, Page 649, N 04° 41' 09" W. 287.65 feet to an iron pin found on a common line with the Board of Education
as recorded in Deed Book 648, Page 38; thence with said Board of Education, S 81° 57' 38" E, 141.41 feet to a pipe; thence
leaving said Board of Education the following five (5) courses and distances to iron pins set; (1) S 17° 59' 54" E, 104.96
feet; (2) S 20° 10' 06" W, 75.94 feet; (3) S 03° 30' 06" W, 32.98 feet; (4) S 12° 44' 54" E, 30.00 feet;
(5) S 12° 44' 54" E. 34.47 feet to an iron pin set in the aforementioned right of way of U. S. Route 60 East; thence with
said right of way, N 89° 09' 54" W, 69.96 feet to a mag nail set; thence continuing with said right of way, S 89°
05' 43" W. 65.04 feet to the place of beginning, containing 0.900 acre.

 

1935, 1929-33, and 1921 Third Ave.,
Huntington, WV:

 

All those certain lots, pieces or parcels
of real estate situate in the City of Huntington, County of Cabell and State of West Virginia, known and designated on a certain
map of Addition Number (2) supplemental to a certain map of said City of Huntington made by Rufus Cook, Surveyor, a lithograph
copy of which latter map was filed in the Recorder’s Office of said County of Cabell on the 6th day of December, 1871, and
a copy of which supplemental map was filed in the Office of the Clerk of said Cabell County on August 9, 1881, as LOT NUMBERS SIX
(6), SEVEN (7), EIGHT (8), NINE (9), TEN (10) and the westerly one-half (1/2) of the west building wall and the land upon which
said westerly One-half (1/2) of said building wall stands on LOT NUMBER ELEVEN (11), all of said lots, pieces or parcels of real
estate being in BLOCK NUMBER TWO HUNDRED NINETY SEVEN (297). Said portion of LOT NUMBER ELEVEN (11) is more particularly described
as follows:

 

All that certain piece or parcel of real
estate and property known and described as the westerly One-half (1/2) of the west wall of the building located on said Lot Number
Eleven (11) in said Block Two Hundred Ninety-Seven (297) together with the land upon which said westerly one-half (1/2) of said
wall stands, and which parcel of land or real estate is more particularly bounded and described as follows:

 

Beginning at the northwest corner of said
Lot Number Eleven (11) in said Block Two Hundred Ninety-Seven (297); thence from said beginning point, easterly along and with
the north line of said Lot Number Eleven (11) and also along the south line of said Third Avenue, Seven and One-eight (7-1/8) inches
to a point in the center of a 13-inch wall, said point being Seven and One-eight (7-1/8) inches east of the west line of said Lot
Number Eleven (11); thence southerly with the center of said 13-inch wall 130 feet to the north line of Virginia Avenue; thence
westerly with and long said north line of Virginia Avenue, Six and One-fourth (6-1/4) inches to the east line of said Lot Number
Ten (10) in said Block Number Two-hundred Ninety-Seven (297); thence northerly and along the east line of said Lot Number Ten (10)
130 feet to the beginning, it being the intention to hereby convey the westerly One-half (1/2) of said wall and the land upon which
said westerly One-half (1/2) of said wall stands.

 

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STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

EXHIBIT
C

STATE-SPECIFIC
PROVISIONS

 

Kentucky: None.

 

West Virginia:

 

The following is added to the end of Section
4.07:

 

“The
month to month tenancy created at Lessor’s option and within Lessor’s sole discretion shall be terminable by Lessor
at any time, with or without cause, by giving at least ten (10) calendar days’ written notice of such termination to Lessee.
Notwithstanding the foregoing provisions of this Section, in the event that Lessee shall hold over after the expiration of the
Lease Term, nothing set forth and contained in this Section shall in any way, manner, or character limit or negate Lessor’s
rights and remedies under, in accordance with, and pursuant to this Lease, at law, and/or in equity, including, without limitation,
the right to demand immediate possession of the Properties from Lessee and pursue an action for the ejectment of Lessee from the
Properties.”

 

The following is added
to the end of Section 6.01(a):

 

“For
the purposes of this section, ‘taxes’ shall include assessments for permanent local improvements such as, by way of
example or illustration, and not by way of limitation, assessments for the paving of streets or the installation of sidewalks,
with the specific and express intent on the part of Lessor and Lessee to contract around and negate the proviso set forth and contained
in West Virginia Code § 36-4-10.”

 

The following is added to the end of Section
7.02:

 

“Notwithstanding that Lessor’s
prior written consent may or may not be required as a pre-condition to Lessee making any alterations or additions to the Properties,
in no way, manner, or event shall Lessee be or be deemed or construed to be an agent or representative of Lessor to engage, retain,
or employ or agree or contract with any party to perform work or labor on or for the benefit of the Properties or furnish materials,
supplies, or equipment on or for the benefit of the Properties, and in all circumstances and events Lessee shall be and shall be
deemed and construed to be acting for on and on behalf of itself and not on account of or as an agent or representative of Lessor.
Furthermore, this Lease shall not create and shall not be deemed or construed to create a joint venture, partnership, or other
arrangement other than that of landlord and tenant between Lessor and Lessee.”

 

The following new Section 11.08 is hereby
added to the Lease:

 

“The provisions of West
Virginia Code § 37-6-28 and § 37-6-29 shall not be applicable to this Lease and it is the specific and express intent
on the part of Lessor and Lessee to contract around and negate the provisions set forth and contained therein.”

 

    C-1 

4817-7336-4078.5
STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

SCHEDULE
4.05

 

WIRE INSTRUCTIONS

 

To Wire Funds to STORE Capital Acquisitions,
LLC

 

Please give these instructions to your
bank when you initiate a wire payment to STORE Capital Acquisitions, LLC:

 

	Bank Name:	 PNC Bank
	ABA: 	043000096
	Account No.:	1006967647
	Credit:	Midland
Wire Receipts
	Reference: 	Fat Patty’s

 

* This information must be completed fully
and accurately to ensure that there is no delay in crediting funds to the proper account.

 

    
4817-7336-4078.5
STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

SCHEDULE
9.03

SUPPLEMENTAL FINANCIAL INFORMATION

 

To process your financial reporting requirements, STORE Capital asks you to fill out the following information in connection to CORPORATE financial performance. Please send this page along with the actual financial statements to fincollections@storecapital.com. 

 

 Corporate Financial Reporting

 

	Company Name:	 	 
	For the Qtr or FYE ending 	 	 
	# of months represented	 	 
	Total Company Net Revenue 	 	 
	Total number of revenue generating locations included in Total Company Net Revenue figure above	 	 
	 	 	 
	Corporate EBITDAR Calculation:	 	 
	 	 	 
	Total Company Net Income	 	 
	 	 	 
	Plus: Interest Expense	 	 
	Plus: Taxes	 	 
	Plus: Depreciation & Amortization	 	 
	Plus: Operating Lease Expense 	 	 
	Plus: Any non-recurring expenses (please clarify below)	 	 
	Plus: Any other non-cash expenses (please clarify below)	 	 
	EBITDAR	 	 
	 	 	 
	Items required to be broken out of Balance Sheet: 	 	 
	Current Portion of Long-Term Debt	 	 
	Current Portion of any Capital Leases	 	 
	Senior Third-Party Debt Balances 	 	 
	Subordinate/Related Party Debt Balances	 	 
	 	 	 
	Explanations of non-recurring and non-cash items:	 	 
	 	 	 
	 	 
	 	 
	 	 

 

    
4817-7336-4078.5
STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

To process your financial reporting requirements, STORE Capital asks you to fill out the following information in connection to UNIT financial performance. Note that this template allows you to enter up to 3 unit statements. If you have more than 3 units please duplicate this template for the remaining properties. Please send these along with the actual financial statements to fincollections@storecapital.com. 

 

STORE Capital Unit-Level Financial
Reporting 

 

	 	UNIT 1	 	UNIT 2	 	UNIT 3
	 	 	 	 	 	 
	Company’s Unit Identifier	 	 	 	 	 
	 	 	 	 	 	 
	For the Qtr or FYE ending 	 	 	 	 	 
	 	 	 	 	 	 
	# of months represented	 	 	 	 	 
	 	 	 	 	 	 
	Unit-Level pre-corporate overhead

EBITDAR Calculation:	 	 	 	 	 
	 	 	 	 	 	 
	Total unit Revenues	 	 	 	 	 
	 	 	 	 	 	 
	Unit-Level Net Income	 	 	 	 	 
	 	 	 	 	 	 
	Plus: Interest Expense	 	 	 	 	 
	Plus: Taxes	 	 	 	 	 
	Plus: Depreciation & Amortization	 	 	 	 	 
	Plus: Property Rent Expense (base rent + any % rent)	 	 	 	 	 
	Plus: Any corporate overhead allocations to the unit	 	 	 	 	 
	Plus: Any non-recurring expenses (please clarify below)	 	 	 	 	 
	Plus: Any other non-cash expenses (please clarify below)	 	 	 	 	 
	EBITDAR	 	 	 	 	 
	 	 	 	 	 	 
	Items required to be broken out on unit-level

profit and loss statement: 	 	 	 	 
	Cost Goods Sold	 	 	 	 	 
	Unit Labor Expenses	 	 	 	 	 
	 	 	 	 	 	 
	Explanations of non-recurring and non-cash items:	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    
4817-7336-4078.5
STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1

     

    

 

SCHEDULE 14.05

PROHIBITED USES

 

1. Adult bookstore, video store or other
establishment engaged in the business of selling, renting, exhibiting or delivering pornographic or obscene materials, except that
this provision shall not prohibit (a) book stores that are not perceived to be and do not hold themselves out as an “adult
book store” and are primarily engaged in the sale of general audience books notwithstanding the incidental concurrent sale
of books, magazines and/or periodicals that may contain pornographic materials, or (b) video stores primarily selling or renting
video media that on the date of this Lease would be “G” “PG-13” or “R” rated (or an equivalent
rating under any rating system that hereafter replaces the current system and is in general use), notwithstanding the incidental
concurrent rental of “X-rated” or “Not Rated” video media solely for off premises viewing and without means
of on premises review in connection with its selection; provided that such bookstore or video store does not engage in any promotion,
advertising, depiction or description of any aspect of the X-rated or Not Rated” material of any kind, that the sale or rental
thereof is not from any special or segregated section of the store, and that the sale or rental of such material to minors is prohibited;

 

2. So-called “head shops” or
other establishments primarily engaged in the sale of merchandise that facilitates enhances, promotes or encourages the use of
illegal drugs under federal, state and/or local law;

 

3. Off-track betting parlor;

 

4. Pawn shop;

 

5. “Second hand,” “slightly
used” or other businesses or activities primarily engaged in the sale of used merchandise;

 

6. Junk yard or flea market;

 

7. Stockyard or recycling facility;

 

8. Motor vehicle or boat storage facility;

 

9. Billiard parlor;

 

10. Dry cleaning or laundry plant (which
shall not preclude a dry cleaning or laundry business);

 

11. Mortuary;

 

12. Industrial or manufacturing uses;

 

13. Refining, quarrying or mining operations
of any kind; or

 

14. Massage parlor.

 

    
4817-7336-4078.5
STORE/Fat Patty's
Master Lease Agreement
4 Properties in KY and WV
File No. 7210/02-629.1Blueprint

 

Exhibit 10.1

 

LIMITED WAIVER

 

THIS
LIMITED WAIVER (this “Waiver”) dated
as of August 30, 2018, among YUMA ENERGY, INC., a Delaware
corporation (“Yuma Energy”),
YUMA EXPLORATION AND PRODUCTION
COMPANY, INC., a Delaware corporation, PYRAMID OIL LLC, a California
limited liability company, and DAVIS PETROLEUM CORP., a Delaware
corporation (“Davis”, and
together with Yuma Energy, Yuma Exploration and Production Company,
Inc., and Pyramid Oil LLC, the “Borrowers”,
and each a “Borrower”),
the Guarantors existing on the date hereof, the undersigned Lenders
party to the Credit Agreement (the “Lenders”) and
SOCIÉTÉ
GÉNÉRALE, in its capacity as Administrative Agent
(the “Administrative
Agent”).

 

RECITALS

 

A. The Borrowers, the
Lenders and the Administrative Agent are parties to that certain
Credit Agreement dated as of October 26, 2016 (as amended,
restated, amended and restated, supplemented or otherwise modified
from time to time prior to the date hereof, the “Credit
Agreement”).

 

B. Yuma Energy, in its
capacity as the Borrowing Agent, has delivered the Administrative Agent and the Lenders
under the Credit Agreement the Borrowers’ Compliance
Certificate dated as of August 29, 2018, with respect to
the fiscal quarter ended June 30, 2018, demonstrating
that Yuma Energy and its Subsidiaries failed to comply with certain
financial ratios required pursuant to Section 6.1 of the Credit
Agreement for the fiscal quarter ended
June 30, 2018.

 

C. The Borrowers have
requested that the Lenders waive any breaches under the Credit
Agreement resulting from such non-compliance, and, subject to the
conditions precedent set forth herein, the parties hereto have
agreed to waive any such breaches as set forth herein.

 

NOW,
THEREFORE, in consideration of these premises and for other good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as
follows:

 

1. Same Terms. All terms used
herein that are defined in the Credit Agreement shall have the same
meanings when used herein, unless the context hereof otherwise
requires or provides. In addition, (i) all references in the Loan
Documents to the “Agreement” shall mean the Credit
Agreement, as amended by this Waiver, and (ii) all references in
the Loan Documents to the “Loan Documents” shall mean
the Loan Documents, as amended by this Waiver.

 

2. Limited Waiver.

 

A. At the request of
the Borrowers, and in reliance on the accuracy of the information
certified by the Borrowers in the Compliance Certificate dated
August 29, 2018, the Administrative Agent and the Lenders
hereby waive the non-compliance by the Borrowers with the financial
ratios specified in clauses (a), (b) and (c) of Section 6.1 of
the Credit Agreement as of the last day of the fiscal quarter ended
June 30, 2018, or for the four fiscal quarter period
ended June 30, 2018, as applicable.

 

B. The post-default
rate of interest, which would otherwise apply as a result of the
breach described in the foregoing clause (A) of this
Section 2 to
the aggregate outstanding amount of all Loans outstanding for the
period from June 30, 2018 until (but not including) the
date hereof, is hereby waived; provided that the waiver of the
post-default rate of interest herein shall apply only to the Events
of Default waived herein and not to any other Event of Default now
existing or that may hereafter occur.

 

The
waiver in this Section 2 is effective
only in respect of the matters and for the time periods expressly
set forth in this Section 2 and not for any
other period and, except as expressly set forth in this Waiver, no
other waivers are intended or made by this Waiver. No failure or
delay on the part of the Administrative Agent, any Lender, the
Issuing Bank or the holder of any Note in exercising any power or
right under the Credit Agreement or any other Loan Document shall
operate as a waiver thereof, nor shall any single or partial
exercise of any such power or right preclude any other or further
exercise thereof or the exercise of any other power or right. No
waiver or approval by the Administrative Agent, any Lender, the
Issuing Bank or the holder of any Note under this Waiver, the
Credit Agreement or any other Loan Document shall, except as may be
otherwise stated in such waiver or approval, be applicable to any
subsequent transaction or any Default or Event of Default under any
Loan Document.

 

1

 

 

 

3. Conditions Precedent. This
Waiver shall become effective (the “Waiver Effective
Date”) upon each of the following conditions being
satisfied:

 

A. Waiver to Credit Agreement. The
Administrative Agent shall have received multiple original
counterparts, as requested by the Administrative Agent, of this
Waiver duly and validly executed and delivered by duly authorized
officers of the Borrowers, the Guarantors, the Administrative Agent
and each Lender.

 

B. Representations
and Warranties; No Defaults. Each Borrower shall have confirmed and
acknowledged to the Administrative Agent and the Lenders, and by
its execution and delivery of this Waiver, each Borrower does
hereby confirm and acknowledge to the Administrative Agent and the
Lenders, that (i) all representations and warranties contained
herein or in the other Loan Documents or otherwise made in writing
in connection herewith or therewith shall be true and correct with
the same force and effect as though such representations and
warranties have been made on and as of the Waiver Effective Date
and (ii) no Default or Event of Default exists under the Credit
Agreement or any of the other Loan Documents.

 

4. Certain Representations. Each
Borrower represents and warrants that, as of the Waiver Effective
Date: (A) each Borrower has full power and authority to
execute this Waiver and the other documents executed in connection
herewith and this Waiver and such other documents constitute the
legal, valid and binding obligation of each Borrower enforceable in
accordance with their terms, except as enforceability may be
limited by general principles of equity and applicable bankruptcy,
insolvency, reorganization, moratorium, and other similar laws
affecting the enforcement of creditors’ rights generally; and
(B) no authorization, approval, consent or other action by,
notice to, or filing with, any governmental authority or other
person is required for the execution, delivery and performance by
each Borrower thereof. In addition, each Borrower represents that
after giving effect to this Waiver all representations and
warranties contained in the Credit Agreement and the other Loan
Documents are true and correct in all material respects on and as
of the Waiver Effective Date as if made on and as of such date
except to the extent that any such representation or warranty
expressly relates solely to an earlier date, in which case such
representation or warranty is true and correct in all material
respects as of such earlier date.

 

5. Agreement Regarding Redetermination of
the Borrowing Base in September 2018. The parties
hereto agree that the Borrowing Base redetermination that was
contemplated by that certain Waiver and Third Amendment to Credit
Agreement dated as of July 31, 2018, to occur on or about
August 15, 2018, shall be, and hereby is, postponed until
on or about September 15, 2018 (the “September 2018
Redetermination”), whereupon the Borrowing Base shall
be redetermined based on the Engineering Reports most recently
provided by the Borrowing Agent to the Administrative Agent and the
Lenders, as well as any additional reports, data, or supplemental
information reasonably requested by the Required Lenders. Each of
the Borrowers, on the one hand, and the Administrative Agent and
the Lenders, on the other hand, agree and acknowledge that the
September 2018 Redetermination shall not constitute an Interim
Redetermination (or a Scheduled Redetermination).

 

6. No Further Amendments or
Waivers. Except as amended or waived hereby, the Credit
Agreement and the Loan Documents shall remain unchanged and all
provisions shall remain fully effective between the
parties.

 

7. Acknowledgments and Agreements.
Each Borrower acknowledges that on the date hereof all outstanding
Obligations are payable in accordance with their respective terms,
and each Borrower waives any defense, offset, counterclaim or
recoupment with respect thereto. Each Borrower, the Administrative
Agent and each Lender do hereby adopt, ratify and confirm the
Credit Agreement, as amended hereby, and the Loan Documents and
acknowledge and agree that the Credit Agreement, as amended hereby,
and the Loan Documents are and remain in full force and effect.
Each Borrower acknowledges and agrees that its liabilities and
obligations under the Credit Agreement, as amended hereby, and
under the Loan Documents, are not impaired in any respect by this
Waiver. Any breach of any representations, warranties and covenants
under this Waiver shall be an Event of Default under the Credit
Agreement.

 

 

2

 

 

8. Limitation on Agreements. The
modifications set forth herein are limited precisely as written and
shall not be deemed (A) to be a consent under or a waiver of
or an amendment to any other term or condition in the Credit
Agreement or any of the Loan Documents (other than the waiver
provided for in Section
2 of this Waiver), or (B) to prejudice any right or
rights that the Administrative Agent now has or may have in the
future under or in connection with the Credit Agreement and the
Loan Documents, each as amended hereby, or any of the other
documents referred to herein or therein. This Waiver shall
constitute a Loan Document for all purposes.

 

9. Release of Administrative Agent,
Issuing Bank and Lenders; Etc. In consideration of the
amendments and waivers set forth in this Waiver, each of the
Borrowers and the Guarantors hereby releases, acquits, forever
discharges, and covenants not to sue, the Administrative Agent, the
Issuing Bank and each Lender, along with all of their respective
beneficiaries, officers, directors, shareholders, agents,
employees, servants, attorneys, accountants, consultants,
affiliates, owners and representatives, as well as their respective
heirs, executors, legal representatives, administrators,
predecessors in interest, successors and assigns (each
individually, a “Released
Party” and collectively, the “Released
Parties”) from any and all claims, demands, damages,
costs, expenses, debts, liabilities, contracts, agreements,
obligations, accounts, defenses, suits, offsets against the
indebtedness evidenced by the Loan Documents, actions, causes of
action or claims for damages or relief of whatever kind or nature,
whether equitable or monetary, whether known or unknown, fixed,
contingent or conditional, at law or in equity, suspected or
unsuspected by any Borrower which any Borrower, any Guarantor or
any Subsidiary of any of them, has, had or may have against any
Released Party, for or by reason of any matter, cause or thing
whatsoever occurring on, or at any time prior to, the date of this
Waiver, including, without limitation, any matter that relates to,
in whole or in part, directly or indirectly (a) the Credit
Agreement, any Note, any Security Document, any other Loan Document
or the transactions evidenced thereby, including, without
limitation, any disbursements under the Credit Agreement, any
Notes, the negotiation of any of the Credit Agreement, the Notes,
the Mortgages, the Hazardous Materials Undertaking and Indemnity or
the other Loan Documents, the terms thereof, or the approval,
administration or servicing thereof, or (b) any notice of
default, event of default in reference to any Loan Document or any
other matter pertaining to the collection or enforcement by any
Released Party of the indebtedness evidenced by any Loan Document
or any right or remedy under any Loan Document, or (c) any
purported oral agreements or understandings by and between any
Released Party and any Borrower or any Guarantor in reference to
any Loan Document.

 

10. Confirmation of Security. Each
Borrower hereby confirms and agrees that all of the Security
Documents, as may be amended in accordance herewith, that presently
secure the Obligations shall continue to secure, in the same manner
and to the same extent provided therein, the payment and
performance of the Obligations as described in the Credit Agreement
as modified by this Waiver.

 

11. Counterparts. This Waiver may
be executed in any number of counterparts, each of which when
executed and delivered shall be deemed an original, but all of
which constitute one instrument. In making proof of this Waiver, it
shall not be necessary to produce or account for more than one
counterpart thereof signed by each of the parties
hereto.

 

12. Incorporation of Certain Provisions by
Reference. The provisions of Section 9.9 of the Credit
Agreement captioned “Governing Law; Jurisdiction; Waiver of
Venue; Service of Process” are incorporated herein by
reference for all purposes.

 

13. Entirety, Etc. This Waiver and
all of the other Loan Documents embody the entire agreement between
the parties. THIS WAIVER AND ALL OF THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS AMONG THE PARTIES.

 

[The
rest of this page is intentionally left blank; the signature pages
follow.]

3

 

 

IN
WITNESS WHEREOF, the parties hereto have executed this Waiver to be
effective as of the date and year first above written.

 

BORROWERS

 

YUMA
ENERGY, INC.

 

 

By:
/s/ Sam L.
Banks

Name:
Sam L. Banks

Title:
Chief Executive Officer

 

 

YUMA
EXPLORATION AND PRODUCTION COMPANY, INC.

 

 

By:
/s/ Sam L.
Banks

Name:
Sam L. Banks

Title:
Chief Executive Officer

 

 

PYRAMID
OIL LLC

 

 

By:
/s/ Sam L.
Banks

Name:
Sam L. Banks

Title:
Chief Executive Officer

 

 

DAVIS
PETROLEUM CORP.

 

 

By:
/s/ Sam L.
Banks

Name:
Sam L. Banks

Title:
Chief Executive Officer

 

 

 

Signature
Page to Limited Waiver

4

 

 

ADMINISTRATIVE
AGENT

AND
LENDER:

 

SOCIÉTÉ
GÉNÉRALE

 

 

By:
/s/ Elena
Robciuc

Name:
Elena Robciuc

Title:
Managing Director

 

 

 

LENDER:

 

CIT
BANK, N.A.

 

 

By:
/s/ John S. Yusi,
III

Name:
John S. Yusi, III

Title:
Senior Vice President

 

 

LENDER:

 

LEGACYTEXAS
BANK

 

 

By:
/s/ Christopher S.
Parada

Name:
Christopher S. Parada

Title:
Managing Director

 

 

 

 

Signature
Page to Limited Waiver

5

 

 

THE
GUARANTORS HEREBY CONSENT TO THE EXECUTION, DELIVERY AND
PERFORMANCE OF THE TERMS OF THIS WAIVER BY THE
BORROWERS.

 

 

THE
YUMA COMPANIES, INC.

 

 

By:
/s/ Sam L.
Banks

Name:
Sam L. Banks

Title:
Chief Executive Officer

 

 

DAVIS
PETROLEUM ACQUISITION CORP.

 

 

By:
/s/ Sam L.
Banks

Name:
Sam L. Banks

Title:
Chief Executive Officer

 

 

 

Signature
Page to Limited Waiver

6

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