R-2022-125 - 4/14/2022 RESOLUTION -2022-125
WHEREAS, the City of Round Rock ("City") and KR CC, Inc. ("Tenant") entered into that
certain Ground Lease Agreement, dated as of December 20, 2016, as amended by that certain First
Amendment to Ground Lease, dated as of February 1, 2017, as further amended by that certain Second
Amendment to Ground Lease, dated as of April 26, 2018 (together, the "Ground Lease"), pursuant to
which the City leases to Tenant and Tenant leases from the City the real property described on Exhibit
A to the Third Amendment; and
WHEREAS, Tenant and KR Acquisitions, LLC ("Subtenant") entered into that certain
Sublease of Ground Lease, Option to Take Assignment of Ground Lease, and Option to Purchase dated
as of April 26, 2018 ("Sublease"), pursuant to which the Tenant subleases to Subtenant, and Subtenant
leases from the Tenant the Subleased Premises(as defined in the Sublease); and
WHEREAS, pursuant to the Ground Lease, the City and Tenant desire to amend the Ground
Lease as set forth herein, such amendment to be binding upon the City, Tenant and Subtenant, Now
Therefore
BE IT RESOLVEDCIL OF THE CITY OF ROUND ROCK,TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City the Third
Amendment to Ground Lease Agreement, a copy of same being attached hereto as Exhibit "A" and
incorporated herein for all purposes.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551,Texas Government Code, as amended.
i0 11 111„Z 20222 A78 6090 1111772.
RESOLVED this 14th day of April,2022.
............. ...
CRAIG MRG I, Mayor
City of Round. RVk,Texas
ATTEST:
MEAGAN INKS, "ity Clerk
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EXHIBIT
THIRD AMENDMENT TO GROUND LEASE AGREEMENT
This THIRD AMENDMENT TO GROUND LEASE AGREEMENT(this
"Amendment")is made and entered into as of 2022 (the"Effective Date"),
between CITY OF ROUND ROCK,TEXAS,a home rule city and municipal corporation(the
"QjV'),and KR CC,INC.,a Delaware corporation("Tqlapt"),and acknowledged and agreed to
by KR ACQUISITIONS,LLC,a Delaware limited liability company("Subtenan
RECITALS
A. The City and Tenant entered into that certain Ground Lease Agreement,dated as
of December 20,2016,as amended by that certain First Amendment to Ground Lease,dated as
of February 1,2017,as further amended by that certain Second Amendment to Ground Lease,
dated as of April 26,2018 (together,the"Ground Lease"),pursuant to is the City leases to
Tenant,and Tenant leases from the City the real property described on Exhibit A hereto(the
"Resort").
B. Tenant and Subtenant entered into that certain Sublease of Ground Lease, Option
to Take Assigrunent of Ground Lease,and Option to Purchase dated as of April 26,2018
("Sublease"),pursuant to which the Tenant subleases to Subtenant,and Subtenant leases from
the Tenant the Subleased Premises(as defined in the Sublease).
C. Pursuant to the Ground Lease,the City and Tenant desire to amend the Ground
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, Tennstili zed but not defined herein shall have the
meanings set forth in the Ground Lease.
2. Section 15.1 ( )of the Ground Lease is hereby deleted in its entirety.
3. Successors and Asci s. This Amendment shall in and inure to the benefit
of the parties and their respective heirs,successors and assigns.
4. ova in Law. This Amendment is governed by Texas law.
(Signatures appear on the following pages)
002 EWM22,P'0719-AC 11 WE 46406524 2' C p W22 I tl'24 KIM
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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 ROM TEXAS
a home rule city and municipal corporation
By:
Name:
Title:
ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me onthe,,,_day of, 2022,by
.....�as of the CITY OF ROUND ROCK,TEXAS,a home rule city
and municipal corporation.
u b-1-i c- ....................... ....
................
State of Texas
..... .....
.. ..... ....
ted Name
..............................................
My Commission Expires:
002330-0022-47079-ACT4VE.46106524 2 COM 44 24 AM
3
KR ,INC.
Delaware corporation
Title:
ACKNOWLEDGEMENT
STATE OF WISCONSIN §
COUNTY OF SAU
Jbis instrimient was acknowledgedfore me on the mta,ay of w ,2022,by
as of KR CC, INC.,a Dela corporation.
Notary Public
State ofm� �"
My Con miss' .r
GU1ylj�G
NOTARY
P BLIC
002330-0022-17471-A .4611165242 COW 1114
4
ACKNOWLEDGED AND AGREED TO BY:
KR ACQMSITIONS,LLC,
Delaware i liability
By.
Title:
ACKNOWLEDGEMENT
STATE OF WISCONSIN
COUNTYS
rhi ent w kn le a before e o ekday of ,2022,by
as .....'S�a•�rer of KR ACQUISITIONS,LLC,a Dela Fare limited liability
y.
Notary Pub c
State of /
My Commissi �a
PUBL.1