Contract - KR CC, Inc. - 4/14/2022 FIRST AMENDMENT TO OPERATING LEASE AGREEMENT
This FIRSTAMENDMENT'ro OPERATING LEASE AGREEMENT (this
"Amendment") is made and entered into as of 2022 (the "Eff tive Date"),
between CITY OF ROUND ROCK, TEXAS, a Home rule city and municipal corporation (the
"City"'), and KR CC, INC., a Delaware corporation ("Ienant"), and acknowledged and agreed to
by KR ACQUISITIONS, LLC, a Delaware limited liability company("alubtenarl
RECITALS
A. The City and Tenant entered into that certain Convention Center Operating Lease,
dated as of, pril 26, 2018 (the"Operating Lease"),pursuant to which the City leases to Tenant,
and Tenant leases from the City the Convention Center and the Convention Center Parcel during
the Leasehold Term.
B. Tenant and Subtenant entered into that certain Sublease of Convention Center
Operating Lease dated as of April 26,2018 ("aublease"), pursuant to which the Tenant subleases
to Subtenarit, and Subteriant leases from the Tenant the Subleased Prernises(as defined in the
Sublease).
C. Pursuant to the Operating Lease, the City and Tenant desire to amend the
Operating Lease as set forth herein, such amendment to be binding upon the City, Tenant and
Subtenant.
NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged,the parties agree as follows:
I. Defined Terms. Terms utilized but not defined herein shall have the
meanings set forth in the Operating Lease.
2. Section 16.1 of the Operating Lease is hereby deleted in its entirety and replaced
as follows:
16.1 Right to Obtain LeaNehold Mortgages. Notwithstanding anything to the
contrary contained in this Agreement, Tenant shall have the right, without the City's
consent, to execute and deliver one or more Leasehold Mortgages encumbering the
Leasehold Estate or the direct or indirect ownership interests in Tenant at any time and
from time to time; provided, that no such Leaschold Mortgage shall encumber the Fee
Estate. The City shall not be required to join in or subordinate the Fee Estate and no such
Leasehold Mortgage shall extend to or affect the Fee Estate. Each Leasehold Mortgage
shall provide that the Leasehold Mortgagee shall send to the City copies of all notices of
material default sent to Tenant in connection with the Leasehold Mortgage or the debt
secured thereby, provided that the failure to provide any such notice shall not affect the
validity of the mortgage in any manner.
1 Successors and Assi res, This Amendment shall bind and inure to the benefit
of the parties and their respective heirs, successors and assigns.
002330-0022 1 7009ACTIVE 46055 71191 4,111 Q/2 2!ill�24 A M
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4, QG20vyetMmire je@w. This Amendment is govemed by Texas law.
(Signatures appear on the following pages)
WI2330 0022-1170,79,ACITWE 4160557 1110 1 401012 111� 24 AIM
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IN WITNESS WHEREOF,the City and Tenant have entered into this Amendment as of
the day and year first above written,
CITY-
CITY OF ROUND ROCK,TEXAS
a home rule city and municipal corporation
By
Name, C1, AN
I
Title:
ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF WILI.JAMSON §
Tin tnen!w0as acknowledged before me on the14 OCK TE y f 2022, by.
s � of the CITY OF ROLTND R , - )"a hme orule city
as S
corpora'I n.
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002330-01022-11 70719-ACI IVE 4160.557H)
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TENANT:
NT:
KR , INC.
Delamere corporatism
,.
i
e:
Title:
ACKNOWLEDGEMENT
STATE OF WISCONSIN
COUNTY OF SAUK §
This instrument was acknowledged before me on the y of �n I� 2022, by
w, of , INC.,a Delaware cor r ti rye
,m �
Notary 'u ic
State of ccvvs�11
NO,..
002331-0101122 00719,AM'uMd''E,461055rfl'03 011Y22 1111,24 A11A