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Aei Income & Growth Fund XXII Ltd Partnership – ‘10-Q’ for 3/31/20 – ‘EX-101.INS’

On:  Friday, 5/15/20, at 12:28pm ET   ·   For:  3/31/20   ·   Accession #:  894245-20-12   ·   File #:  0-24003

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/15/20  Aei Income & Growth Fund XXII LP  10-Q        3/31/20   31:963K                                   Aei Net Lease Inc… XX LP

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report Pursuant to Section 13 or 15(D)    HTML    133K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     17K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     17K 
 4: EX-32       Section 1350 Certifications                         HTML     14K 
28: R1          Document And Entity Information                     HTML     64K 
21: R2          Balance Sheet                                       HTML     63K 
12: R3          Balance Sheet (Parentheticals)                      HTML     17K 
24: R4          Statement of Income                                 HTML     51K 
27: R5          Statement of Cash Flows                             HTML     49K 
20: R6          Statement of Changes in Partners' Capital           HTML     29K 
11: R7          Basis of Accounting                                 HTML     14K 
25: R8          Organization                                        HTML     20K 
26: R9          Recently Issued Accounting Pronouncements           HTML     13K 
17: R10         Real Estate Investments                             HTML     17K 
13: R11         Payable to AEI Fund Management, Inc.                HTML     14K 
22: R12         Partners' Capital                                   HTML     15K 
29: R13         Fair Value Measurements                             HTML     15K 
18: R14         Coronavirus Outbreak                                HTML     14K 
14: R15         Accounting Policies, by Policy (Policies)           HTML     24K 
23: R16         Organization (Details)                              HTML     25K 
30: R17         Real Estate Investments (Details)                   HTML     47K 
19: R18         Partners' Capital (Details)                         HTML     26K 
31: XML         IDEA XML File -- Filing Summary                      XML     45K 
16: EXCEL       IDEA Workbook of Financial Reports                  XLSX     23K 
 5: EX-101.INS  XBRL Instance -- aei22-20200331                      XML    133K 
 6: EX-101.CAL  XBRL Calculations -- aei22-20200331_cal              XML     44K 
 7: EX-101.DEF  XBRL Definitions -- aei22-20200331_def               XML    202K 
 8: EX-101.LAB  XBRL Labels -- aei22-20200331_lab                    XML    312K 
 9: EX-101.PRE  XBRL Presentations -- aei22-20200331_pre             XML    201K 
10: EX-101.SCH  XBRL Schema -- aei22-20200331                        XSD     51K 
15: ZIP         XBRL Zipped Folder -- 0000894245-20-000012-xbrl      Zip     35K 


‘EX-101.INS’   —   XBRL Instance — aei22-20200331


This Exhibit is an XBRL XML File.


                                                                                                                                                                                
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<us-gaap:BasisOfAccounting contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify;"> <font style="font-weight: bold;">(1)</font><font>  The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10K.</font> </div><br/></div>
</us-gaap:BasisOfAccounting>
<us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(2) Organization – </font> </div><br/><div style="text-align: justify;"> <font>AEI Income & Growth Fund XXII Limited Partnership (“Partnership”) was formed to acquire and lease commercial properties to operating tenants. The Partnership's operations are managed by AEI Fund Management XXI, Inc. (“AFM”), the Managing General Partner. Robert P. Johnson, the Chief Executive Officer and sole director of AFM, serves as the Individual General Partner. AFM is a wholly owned subsidiary of AEI Capital Corporation of which Mr. Johnson and his wife own a majority interest. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Partnership.</font> </div><br/><div style="text-align: justify;"> <font>The terms of the Partnership offering called for a subscription price of $1,000 per Limited Partnership Unit, payable on acceptance of the offer. The Partnership commenced operations on May 1, 1997 when minimum subscriptions of 1,500 Limited Partnership Units ($1,500,000) were accepted. The offering terminated January 9, 1999 when the extended offering period ended. The Partnership received subscriptions for 16,917.222 Limited Partnership Units. Under the terms of the Limited Partnership Agreement, the Limited Partners and General Partners contributed funds of $16,917,222 and $1,000, respectively.</font> </div><br/><div style="text-align: justify;"> <font>During operations, any Net Cash Flow, as defined, which the General Partners determine to distribute will be distributed 97% to the Limited Partners and 3% to the General Partners. Distributions to Limited Partners will be made pro rata by Units.</font> </div><br/><div style="text-align: justify;"> <font>Any Net Proceeds of Sale, as defined, from the sale or financing of properties which the General Partners determine to distribute will, after provisions for debts and reserves, be paid in the following manner: (i) first, 99% to the Limited Partners and 1% to the General Partners until the Limited Partners receive an amount equal to: (a) their Adjusted Capital Contribution plus (b) an amount equal to 9% of their Adjusted Capital Contribution per annum, cumulative but not compounded, to the extent not previously distributed from Net Cash Flow; (ii) any remaining balance will be distributed 90% to the Limited Partners and 10% to the General Partners. Distributions to the Limited Partners will be made pro rata by Units.</font> </div><br/><div style="text-align: justify;"> <font>For tax purposes, profits from operations, other than profits attributable to the sale, exchange, financing, refinancing or other disposition of property, will be allocated first in the same ratio in which, and to the extent, Net Cash Flow is distributed to the Partners for such year. Any additional profits will be allocated in the same ratio as the last dollar of Net Cash Flow is distributed. Net losses from operations will be allocated 99% to the Limited Partners and 1% to the General Partners.</font> </div><br/><div style="text-align: justify;"> <font>For tax purposes, profits arising from the sale, financing, or other disposition of property will be allocated in accordance with the Partnership Agreement as follows: (i) first, to those partners with deficit balances in their capital accounts in an amount equal to the sum of such deficit balances; (ii) second, 99% to the Limited Partners and 1% to the General Partners until the aggregate balance in the Limited Partners' capital accounts equals the sum of the Limited Partners' Adjusted Capital Contributions plus an amount equal to 9% of their Adjusted Capital Contributions per annum, cumulative but not compounded, to the extent not previously allocated; (iii) third, the balance of any remaining gain will then be allocated 90% to the Limited Partners and 10% to the General Partners. Losses will be allocated 98% to the Limited Partners and 2% to the General Partners.</font> </div><br/><div style="text-align: justify;"> <font>The General Partners are not required to currently fund a deficit capital balance. Upon liquidation of the Partnership or withdrawal by a General Partner, the General Partners will contribute to the Partnership an amount equal to the lesser of the deficit balances in their capital accounts or 1% of total Limited Partners' and General Partners' capital contributions.</font> </div><br/><div style="text-align: justify;"> <font>In May 2015, the Managing General Partner mailed a Consent Statement (Proxy) seeking the consent of the Limited Partners to continue the Partnership for an additional 60 months or to initiate the final disposition, liquidation and distribution of all of the Partnership’s properties and assets. Approval of either proposal required the affirmative vote of holders of a majority of the outstanding units. On June 17, 2015, the votes were counted and neither proposal received the required majority vote. As a result, the Partnership will not liquidate and will continue in operation until the Limited Partners vote to authorize the sale of all of the Partnership's properties or December 31, 2046, as stated in the Limited Partnership Agreement. However, in approximately five years, the Managing General Partner expects to again submit the question to liquidate to a vote by the Limited Partners.</font> </div><br/></div>
</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
<us-gaap:CapitalUnits unitRef="usd" contextRef="c18_AsOf1May1997_LimitedPartnerMember" decimals="0"> 1000 </us-gaap:CapitalUnits>
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<us-gaap:LimitedPartnersContributedCapital unitRef="usd" contextRef="c18_AsOf1May1997_LimitedPartnerMember" decimals="0"> 1500000 </us-gaap:LimitedPartnersContributedCapital>
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<us-gaap:GeneralPartnersContributedCapital unitRef="usd" contextRef="c20_AsOf9Jan1999_GeneralPartnerMember" decimals="0"> 1000 </us-gaap:GeneralPartnersContributedCapital>
<us-gaap:DistributionPolicyMembersOrLimitedPartnersDescription contextRef="c0_From1Jan2020To31Mar2020"> During operations, any Net Cash Flow, as defined, which the General Partners determine to distribute will be distributed 97% to the Limited Partners and 3% to the General Partners. Distributions to Limited Partners will be made pro rata by Units. Any Net Proceeds of Sale, as defined, from the sale or financing of properties which the General Partners determine to distribute will, after provisions for debts and reserves, be paid in the following manner: (i) first, 99% to the Limited Partners and 1% to the General Partners until the Limited Partners receive an amount equal to: (a) their Adjusted Capital Contribution plus (b) an amount equal to 9% of their Adjusted Capital Contribution per annum, cumulative but not compounded, to the extent not previously distributed from Net Cash Flow; (ii) any remaining balance will be distributed 90% to the Limited Partners and 10% to the General Partners. Distributions to the Limited Partners will be made pro rata by Units. </us-gaap:DistributionPolicyMembersOrLimitedPartnersDescription>
<us-gaap:KeyProvisionsOfOperatingOrPartnershipAgreementDescription contextRef="c0_From1Jan2020To31Mar2020"> For tax purposes, profits from operations, other than profits attributable to the sale, exchange, financing, refinancing or other disposition of property, will be allocated first in the same ratio in which, and to the extent, Net Cash Flow is distributed to the Partners for such year. Any additional profits will be allocated in the same ratio as the last dollar of Net Cash Flow is distributed. Net losses from operations will be allocated 99% to the Limited Partners and 1% to the General Partners. For tax purposes, profits arising from the sale, financing, or other disposition of property will be allocated in accordance with the Partnership Agreement as follows: (i) first, to those partners with deficit balances in their capital accounts in an amount equal to the sum of such deficit balances; (ii) second, 99% to the Limited Partners and 1% to the General Partners until the aggregate balance in the Limited Partners' capital accounts equals the sum of the Limited Partners' Adjusted Capital Contributions plus an amount equal to 9% of their Adjusted Capital Contributions per annum, cumulative but not compounded, to the extent not previously allocated; (iii) third, the balance of any remaining gain will then be allocated 90% to the Limited Partners and 10% to the General Partners. Losses will be allocated 98% to the Limited Partners and 2% to the General Partners. The General Partners are not required to currently fund a deficit capital balance. Upon liquidation of the Partnership or withdrawal by a General Partner, the General Partners will contribute to the Partnership an amount equal to the lesser of the deficit balances in their capital accounts or 1% of total Limited Partners' and General Partners' capital contributions </us-gaap:KeyProvisionsOfOperatingOrPartnershipAgreementDescription>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(3)  Recently Issued Accounting Pronouncements – </font> </div><br/><div style="text-align: justify;"> <font>Management has reviewed recently issued, but not yet effective, accounting pronouncements and does not expect the implementation of these pronouncements to have a significant effect on the Partnership’s financial statements.</font> </div><br/></div>
</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
<us-gaap:DescriptionOfNewAccountingPronouncementsNotYetAdopted contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify;"><font>Management has reviewed recently issued, but not yet effective, accounting pronouncements and does not expect the implementation of these pronouncements to have a significant effect on the Partnership’s financial statements.</font></div></div>
</us-gaap:DescriptionOfNewAccountingPronouncementsNotYetAdopted>
<us-gaap:RealEstateDisclosureTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(4)  Real Estate Investments –</font> </div><br/><div style="text-align: justify;"> <font>In July 2018, the Partnership entered into an agreement with the tenant of the Best Buy store in Lake Geneva, Wisconsin to extend the lease term five years to end on March 31, 2024. As part of the agreement, the annual rent decreased from $149,302 to $129,395 effective February 1, 2019. In addition, beginning on February 1, 2019, the tenant received free rent for one month that equaled $10,783.</font> </div><br/><div style="text-align: justify;"> <font>In December 2018, the Partnership decided to sell the Applebee’s restaurant in Crawfordsville, Indiana. In January 2019, the Partnership entered into an agreement to sell the property to an unrelated third party. On April 8, 2019, the sale closed with the Partnership receiving net proceeds of $1,863,691, which resulted in a net gain of $655,332. At the time of sale, the cost and related accumulated depreciation was $1,856,656 and $648,297, respectively.</font> </div><br/><div style="text-align: justify;"> <font>In April 2020, the Partnership entered into an agreement with the tenant of the PetSmart store in Galveston, Texas to extend the lease term ten years to end on April 30, 2032. As part of the agreement, the Partnership will pay a tenant improvement allowance of $42,500 that will be capitalized. </font> </div><br/></div>
</us-gaap:RealEstateDisclosureTextBlock>
<aei22:AverageLeaseTerm contextRef="c21_From1Jul2018To1Jul2018_BestBuyLakeGenevaWIMember"> In July 2018, the Partnership entered into an agreement with the tenant of the Best Buy store in Lake Geneva, Wisconsin to extend the lease term five years to end on March 31, 2024. </aei22:AverageLeaseTerm>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax unitRef="usd" contextRef="c22_From1Feb2018To31Jan2019_BestBuyLakeGenevaWIMember" decimals="0"> 149302 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax unitRef="usd" contextRef="c23_From1Feb2019To31Jan2020_BestBuyLakeGenevaWIMember" decimals="0"> 129395 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>
<us-gaap:AllowanceForNotesAndLoansReceivableCurrent unitRef="usd" contextRef="c24_AsOf1Feb2019_BestBuyLakeGenevaWIMember" decimals="0"> 10783 </us-gaap:AllowanceForNotesAndLoansReceivableCurrent>
<us-gaap:DisposalDate1 contextRef="c25_From8Apr2019To8Apr2019_ApplebeesCrawfordsvilleINMember"> 2019-04-08 </us-gaap:DisposalDate1>
<us-gaap:ProceedsFromSaleOfRealEstate unitRef="usd" contextRef="c25_From8Apr2019To8Apr2019_ApplebeesCrawfordsvilleINMember" decimals="0"> 1863691 </us-gaap:ProceedsFromSaleOfRealEstate>
<us-gaap:GainLossOnDispositionOfAssets1 unitRef="usd" contextRef="c25_From8Apr2019To8Apr2019_ApplebeesCrawfordsvilleINMember" decimals="0"> 655332 </us-gaap:GainLossOnDispositionOfAssets1>
<us-gaap:RealEstateCostOfRealEstateSold unitRef="usd" contextRef="c25_From8Apr2019To8Apr2019_ApplebeesCrawfordsvilleINMember" decimals="0"> 1856656 </us-gaap:RealEstateCostOfRealEstateSold>
<us-gaap:RealEstateAccumulatedDepreciation unitRef="usd" contextRef="c26_AsOf8Apr2019_ApplebeesCrawfordsvilleINMember" decimals="0"> 648297 </us-gaap:RealEstateAccumulatedDepreciation>
<aei22:AverageLeaseTerm contextRef="c27_From1Apr2020To1Apr2020_PetSmartGalvestonTXMember"> In April 2020, the Partnership entered into an agreement with the tenant of the PetSmart store in Galveston, Texas to extend the lease term ten years to end on April 30, 2032 </aei22:AverageLeaseTerm>
<us-gaap:PaymentsForTenantImprovements unitRef="usd" contextRef="c28_From1Apr2020To1Apr2020_PetSmartGalvestonTXMember_TractorSupplyCompanyGrandForksNDMember" decimals="0"> 42500 </us-gaap:PaymentsForTenantImprovements>
<us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(5)  Payable to AEI Fund Management, Inc. – </font> </div><br/><div style="text-align: justify;"> <font>AEI Fund Management, Inc. performs the administrative and operating functions for the Partnership. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business.</font> </div><br/></div>
</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
<us-gaap:PartnersCapitalNotesDisclosureTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(6)  Partners’ Capital –</font> </div><br/><div style="text-align: justify;"> <font>For the three months ended March 31, 2020 and 2019, the Partnership declared distributions of $136,599 and $142,474, respectively. The Limited Partners received distributions of $132,501 and $138,200 and the General Partners received distributions of $4,098 and $4,274 for the periods, respectively. The Limited Partners' distributions represented $10.44 and $10.27 per Limited Partnership Unit outstanding using 12,692 and 13,463 weighted average Units in 2020 and 2019, respectively. The distributions represented $2.05 and $4.55 per Unit of Net Income and $8.39 and $5.72 per Unit of return of capital in 2020 and 2019, respectively. </font> </div><br/></div>
</us-gaap:PartnersCapitalNotesDisclosureTextBlock>
<us-gaap:DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit unitRef="usdPershares" contextRef="c16_From1Jan2020To31Mar2020_LimitedPartnerMember" decimals="2"> 10.44 </us-gaap:DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit>
<us-gaap:DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit unitRef="usdPershares" contextRef="c11_From1Jan2019To31Mar2019_LimitedPartnerMember" decimals="2"> 10.27 </us-gaap:DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit>
<us-gaap:WeightedAverageLimitedPartnershipUnitsOutstanding unitRef="shares" contextRef="c16_From1Jan2020To31Mar2020_LimitedPartnerMember" decimals="INF"> 12692 </us-gaap:WeightedAverageLimitedPartnershipUnitsOutstanding>
<us-gaap:WeightedAverageLimitedPartnershipUnitsOutstanding unitRef="shares" contextRef="c11_From1Jan2019To31Mar2019_LimitedPartnerMember" decimals="INF"> 13463 </us-gaap:WeightedAverageLimitedPartnershipUnitsOutstanding>
<aei22:DistributionsPerUnitOfNetIncome unitRef="usdPershares" contextRef="c16_From1Jan2020To31Mar2020_LimitedPartnerMember" decimals="2"> 2.05 </aei22:DistributionsPerUnitOfNetIncome>
<aei22:DistributionsPerUnitOfNetIncome unitRef="usdPershares" contextRef="c11_From1Jan2019To31Mar2019_LimitedPartnerMember" decimals="2"> 4.55 </aei22:DistributionsPerUnitOfNetIncome>
<aei22:DistributionsPerUnitOfReturnOfCapital unitRef="usdPershares" contextRef="c16_From1Jan2020To31Mar2020_LimitedPartnerMember" decimals="2"> 8.39 </aei22:DistributionsPerUnitOfReturnOfCapital>
<aei22:DistributionsPerUnitOfReturnOfCapital unitRef="usdPershares" contextRef="c11_From1Jan2019To31Mar2019_LimitedPartnerMember" decimals="2"> 5.72 </aei22:DistributionsPerUnitOfReturnOfCapital>
<us-gaap:FairValueDisclosuresTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(7) Fair Value Measurements – </font> </div><br/><div style="text-align: justify;"> <font>As of March 31, 2020 and December 31, 2019, the Partnership had no assets or liabilities measured at fair value on a recurring basis or nonrecurring basis.</font> </div><br/></div>
</us-gaap:FairValueDisclosuresTextBlock>
<aei22:CoronavirusOutbreakPolicyTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify; font-weight: bold;"> <font>(8)  Coronavirus Outbreak – </font> </div><br/><div style="text-align: justify;"> <font>During the first quarter of 2020, there was a global outbreak of a new strain of coronavirus, COVID-19 which continues to adversely impact global commercial activity and has contributed to significant volatility in financial markets. The global impact of the outbreak has been rapidly evolving, and as cases of the virus have continued to be identified in additional countries, many countries have reacted by instituting quarantines, placing restrictions on travel, and limiting hours of operations of non-essential offices and retail centers. Such actions are creating disruption in global supply chains, and adversely impacting a number of industries, such as retail, restaurants and transportation. The outbreak could have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact of the coronavirus. Nevertheless, the coronavirus presents material uncertainty and risk with respect to the Partnership’s performance and financial results, such as the potential negative impact to the tenants of its properties, the potential closure of certain of its properties, increased costs of operations, decrease in values of its properties, changes in law and/or regulation, and uncertainty regarding government and regulatory policy. Up to the date of this filing, the Partnership has not received modification rent requests from any tenant of the five properties owned by the Partnership. All rent has been paid in full by each tenant.</font> </div><br/></div>
</aei22:CoronavirusOutbreakPolicyTextBlock>
<aei22:CoronavirusOutbreakTextBlock contextRef="c0_From1Jan2020To31Mar2020">
<div style="font-family: Times New Roman; font-size: 12pt; "> <div style="text-align: justify;"><font>During the first quarter of 2020, there was a global outbreak of a new strain of coronavirus, COVID-19 which continues to adversely impact global commercial activity and has contributed to significant volatility in financial markets. The global impact of the outbreak has been rapidly evolving, and as cases of the virus have continued to be identified in additional countries, many countries have reacted by instituting quarantines, placing restrictions on travel, and limiting hours of operations of non-essential offices and retail centers. Such actions are creating disruption in global supply chains, and adversely impacting a number of industries, such as retail, restaurants and transportation. The outbreak could have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact of the coronavirus. Nevertheless, the coronavirus presents material uncertainty and risk with respect to the Partnership’s performance and financial results, such as the potential negative impact to the tenants of its properties, the potential closure of certain of its properties, increased costs of operations, decrease in values of its properties, changes in law and/or regulation, and uncertainty regarding government and regulatory policy. Up to the date of this filing, the Partnership has not received modification rent requests from any tenant of the five properties owned by the Partnership. All rent has been paid in full by each tenant.</font></div></div>
</aei22:CoronavirusOutbreakTextBlock>
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Filing Submission 0000894245-20-000012   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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