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EX-10 - EXHIBIT 10 - Diversified Restaurant Holdings, Inc. | c93637exv10.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 16, 2009
DIVERSIFIED RESTAURANT HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Nevada | 000-53577 | 20-5621294 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
21751 W. Eleven Mile Road Suite 208 Southfield, MI |
48076 |
|
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (248) 223-9160
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
Effective Monday, December 7, 2009, AMC Marquette, Inc., a wholly-owned subsidiary of Diversified
Restaurant Holdings, Inc. (the Company), entered into a lease with Centrup Hospitality, LLC for
approximately 5,588 square feet of restaurant space located at 2942 U.S. Highway 41 West,
Marquette, Michigan, 49855. The Company will use the space to operate a Buffalo Wild Wings
restaurant.
The Landlord is:
Centrup Hospitality, LLC
925 W. Washington St.
Marquette, MI 49855
925 W. Washington St.
Marquette, MI 49855
The Tenant is:
AMC Marquette, Inc.
21751 W. Eleven Mile Road, Suite 208
Southfield, MI 48076
21751 W. Eleven Mile Road, Suite 208
Southfield, MI 48076
The lease is for an initial term of 15 years. As long as the Tenant is not in default, the Tenant
has three 5-year options to extend the lease. The rental amount is as follows:
Years 1 through 5 |
$15.00/sq.ft. | $83,820/year | $6,985.00/month | |||||||||
Years 6 through 10 |
$16.00/sq.ft. | $89,408/year | $7,450.66/month | |||||||||
Years 11 through 15 |
$17.00/sq.ft | $94,996/year | $7,916.33/month | |||||||||
Years 16 through 20 |
$18.00/sq.ft. | $100,584/year | $8,382.00/month | |||||||||
Years 21 through 25 |
$19.00/sq.ft. | $106,172/year | $8,847.66/month | |||||||||
Years 26 through 30 |
$20.00/sq.ft. | $111,760/year | $9,313.33/month |
Tenant is responsible for the payment of real estate taxes and utilities for the premises and its
associated parking lot. Tenant must maintain casualty insurance on the premises for its
replacement value, workers compensation insurance at statutory minimum amounts or higher, and
general public liability insurance in the amount of at least $1 million per occurrence.
Tenants obligations for the first five years under the Lease are guaranteed by AMC Wings, Inc., a
wholly owned subsidiary of Diversified Restaurant Holdings, Inc.
Item 2.03 Creation of a Direct Financial Obligation or An Obligation Under an Off Balance Sheet
Arrangement of a Registrant.
The information required by this item 2.03 is set forth in item 1.01 above, which is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) The following exhibits are included with this Report.
Exhibit 10 | Buffalo Wild Wings Retail Center Lease dated December 7, 2009 by and between AMC Marquette, Inc. and Centrup Hospitality, LLC |
SIGNATURES
In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DIVERSIFIED RESTAURANT HOLDINGS, INC. |
||||
Dated: December 11, 2009 | By: | /s/ T. Michael Ansley | ||
Name: | T. Michael Ansley | |||
Title: | President | |||