Attached files

file filename
EX-10 - EXHIBIT 10 - Diversified Restaurant Holdings, Inc.c93637exv10.htm
 
 
UNITED STATES
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
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)
Registrant’s 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
The Tenant is:
AMC Marquette, Inc.
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.
Tenant’s 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