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CITY /STATE: Grand Island, Nebraska Address: 2010 West 2nd Street Site: 1782 200310309 Prepared by: Kathleen M. Kuta, Esq. After recording, return to: Doris Murray- Norris McDONALD'S CORPORATION One McDonald's Plaza Oak Brook, Illinois 60523 MEMORANDUM OF OPTION THIS MEMORANDUM OF OPTION is dated December 16, 2002, between FAZOLI'S RESTAURANTS, INC., a Kentucky corporation, whose address is 2470 Palumbo Drive, Lexington, Kentucky 40509, and McDONALD'S CORPORATION, a Delaware corporation ( "McDonald's "), whose principal place of business is located at One McDonald's Plaza, Oak Brook, Illinois 60523. Option: In consideration of TEN DOLLARS ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledge, Fazoli's grants to McDonald's the exclusive right and option ( "Option ") to acquire any and all real and personal property interest, which Fazoli's, its affiliates, successors and assigns may currently have or may acquire in the future, in the property located at 2010 West 2nd Street, in Grand Island, County of Hall, State of Nebraska, being more particularly described in Exhibit A, together with all easements, rights and appurtenances, all buildings and improvements therein. 2. Term: McDonald's and /or its affiliates may exercise this Option at any time, on or between December 16, 2003 and October 16, 2005. The closing shall be within sixty (60) days, unless otherwise extended pursuant to the terms of the Preferred Stock Purchase Agreement dated December 16, 2002. To indicate their consent to this agreement, the parties, or their authorized representatives or employees have signed this document. FAZOLI'S RESTAURANTS, INC., a Ke ky corp ation By: David Smith, Vice President McDONALD'S CORPORATION, a Delaware corporation By: Catherine A. Griffin, Vice Rresi \ \CORP.PRI\ALLDATA \HO \Dept \Legal \USLEGAL \Special Projects\Pazoli's \Memorandum of Options \Nebraska \1782 - Memorandum of Option. doc - 1 - ;L M �