Contract - KR CC, Inc. - 11/21/2024 FOURTH AMENDMENT TO THE
GROUND LEASE AGREEMENT
BETWEEN
CITY OF ROUND ROCK,TEXAS
AND
KR CC, INC.
This F URTH AMENDMENT (tl is"Fourth Amendment') is made and entered into as of the
day of Rn Y , 202 (the "Effective Date"), between the CITY OF ROUND
ROCK, TEXAS, a Texas home rule city (the "City"), and KR CC, INC., a Delaware corporation
("Tenant"). The City and Tenant are sometimes referred to in this Fourth Amendment as the
"Parties"and each as a"Party."
RECITALS
WHEREAS, the Parties entered into that one certain Ground Lease Agreement between City of
Round Rock Texas and KR CC, INC. on December 20,2016,(the"Ground Lease")and
WHEREAS,the Parties entered into that one certain First Amendment to Ground Lease Agreement
on February 1,2017; and
WHEREAS, the Parties entered into that one certain Second Amendment to Ground Lease
Agreement on April 26, 2018; and
WHEREAS, the Parties entered into that one certain Third Amendment to Ground Lease
Agreement on April 14, 2022; and
WHEREAS, the Parties now desire to amend the Ground Lease to exclude a parcel of land
containing 30 acres from the Leased Premises,and to amend other terms of the Ground Lease as provided
below;
NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained,
the sufficiency of which are hereby conclusively acknowledged, and subject to the terms and conditions
hereinafter set forth,the Parties mutually agree as follows:
ARTICLE I
DEFINITIONS
Section 1.1 Except as specifically amended herein, all terms used herein shall have the meanings
assigned to them in the Ground Lease, unless the context clearly requires otherwise.
Section 1.2 (A) Effective on January 2, 2025, the definition of "Deferred Rent Security" is
amended to read as follows:
"Deferved Rent Security"means the 156.769 acre portion of the Leased Premises
known as the "Krienke parcel" and that 14.4 acre portion of the Leased Premises
on the west side of Kenney Fort known as part of the"Bison parcel"all as described
on Exhibit B less the Excluded Parcel,which property may be excluded from this
Agreement and sold if Tenant fails to timely make the Deferred Rent payment.
1
(B) Effective on January 2,2025,the definition of"Excluded Parcel" is hereby added
to read as follows:
"Excluded Parcel" means the 30-acre portion of the 156.769 acre portion of the
original Leased Premises known as the Krienke parcel, said 30-acre parcel
described on Exhibit H.
(C) Effective on January 2, 2025, the definition of "Leased Premises" is hereby
amended to read as follows:
"Leased Premises" shall mean that portion of the Property as identified on
Exhibit A-2(excluding the Fee Estate and the Excluded Parcel),together with(a)
all air rights and air space above the Property;(b)all mineral and water rights;and
(c) all of City's right, title and interest, if any, in and to all rights, privileges and
easements appurtenant to the Property now existing or created during the Term of
this Agreement; provided however, (i) the Convention Center, as defined in the
Master Development Agreement and/or the Economic Development Program
Agreement,and(ii)any and all public streets,rights of way,and utility easements
dedicated to the City during the platting and development process, shall not be
included in the Leased Premises.
(D) Effective on January 2, 2025, the definition of"Rent" is hereby amended to read
as follows:
"Rent"means the rent paid pursuant to Section 4.1,both before and after the date
of this Fourth Amendment.
(E) Effective on January 2, 2025, the definition of"Property" is hereby amended to
read as follows:
"Property" means the approximately 351.7 acres of land more particularly
described in Exhibit A excluding the Excluded Parcel and excluding any
roadways,easements or other facilities which have been dedicated to the City.
ARTICLE II
OTHER AMENDMENTS
Section 2.1 (A) Effective immediately, the payment set forth in Section 4.1(D) shall be changed
from due on December 20,2024 to due on January 5,2025;provided,however,that the parties acknowledge
that this payment shall be reduced and extended pursuant to Section 2.2 of this Fourth Amendment.
Section 2.2 (A) Effective on January 2,2025, Section 4.1 is amended to read as follows:
4.1 Rent. The Parties agree that all rent due prior to the date of this Fourth
Amendment has been timely paid.Tenant shall pay Rent as follows:
(A) make an annual rent payment to the City of One Dollar($1.00),which shall be
paid,without demand,deduction,or offset,on the fifth day of January of each year
during the Term of this Agreement;
(B) make a one-time payment to the City equal to $6,800,000 on the 20`x' day of
December,2029(the"Deferred Rent").
2
Section 2.3 (A) Effective on January 2,2025,the LIST Oh EXHIBITS is hereby
amended to add the following:
EXHIBIT H Excluded Parcel Description
ARTICLE III
MISCELLANEOUS
Section 3.1 To the extent necessary to effect the terms and provisions of this Fourth Amendment,the
Ground Lease is hereby amended and modified. In all other respects,the aforesaid Ground Lease is hereby
ratified and confirmed.
Section 3.2 This Fourth Amendment may be executed in counterparts, each of which shall be an
original and all of which together shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the Parties hereto acting under authority of their respective governing
bodies have caused this Fourth Amendment to be duly executed as of the day and year first written above.
CITY OF ROUND ROCK,TEXAS KR CC,INC.
A Texas home rule city and municipal corporation a Delaware corporation
By; By: ad A2S��
Crai organ ayor Todd Nelson,President
3
Page 1 of 3 Exhibit" "
Proj.No.CORR-006.3 30.00 Acres
October 8, 2024 P.A. Holder Survey,Abstract No.29
Joseph Marshall Survey,Abstract No.409
Willaimson County,Texas
DESCRIPTION
DESCRIPTION OF A 30.00 ACRE TRACT OF LAND,LOCATED IN THE P.A.HOLDER SURVEY,ABSTRACT
NO.297,AND THE JOSEPH MARSHALLSURVEY,ABSTRACT NO.409,WILLIAMSON COUNTY,TEXAS,
BEING A PORTION OF THAT CERTAIN REMAINDER OF THE CALLED 156.769 ACRE TRACT OF LAND
DESCRIBED IN A SPECIAL WARRANTY DEED TO THE CITY OF ROUND ROCK OF RECORD IN
DOCUMENT NO. 2017001675, OF THE OFFICIAL PUBLIC RECORDS (OPR) OF WILLIAMSON
COUNTY, TEXAS, SAID 30.00 ACRE TRACT OF LAND BEING SURVEYED ON THE GROUND IN
SEPTEMBER, 2024, UNDER THE DIRECT SUPERVISION OF MIGUEL A. ESCOBAR, LSLS, RPLS, AND
BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING at a 1/2 inch iron rod with cap stamped "STAN COALTER, LSLS, RPLS 1481, ROUND ROCK, TX
5122558211"found at the southwest corner of that certain called 1.50 acre tract of land described as a Save and
Except tract in a Special Warranty Deed to the City of Round Rock of record in Document No. 2017001675, said
OPR,for an angle point in the north boundary line of the herein described tract;
THENCE, North 74°24'50" East, with the south boundary line of said 1.50 acre Save and Except Tract, at 244.92
feet pass a 1/2 inch iron rod with cap stamped "INLAND 4933" found for the southeast corner of said 1.50 acre
tract of land, continuing in all a total distance of 326.56 feet to a 1/2 inch iron rod with cap stamped "INLAND
GEODETICS" set on the western boundary line of Lot 1, Block A, BRUSHY CREEK REGIONAL WASTEWATER
TREATMENT PLANT, a subdivision of record in Document No. 2007067173, said OPR, for the northern most
northeast corner of the herein described tract;
THENCE,South 03°34'00" East,with said western boundary line of Lot 1,a distance of 1102.13 feet to a 1/2 inch
iron rod with cap stamped "INLAND GEODETICS" set at the southwest corner of said Lot 1,for an interior corner
of the herein described tract;
THENCE,North 58°56'59" East,with the south boundary line of said Lot 1,a distance of 363.01 feet to a 1/2 inch
iron rod with cap stamped "LCRA" found for an angle point in the south boundary line of said Lot 1, and for a
corner of the herein described tract;
THENCE,North 58°33'41"East,continuing with the south boundary line of said Lot 1,a distance of 244.48 feet to
a 1/2 inch iron rod with cap stamped "LCRA"found for an interior corner of said Lot 1, and for the eastern most
northeast corner of the herein described tract;
THENCE,South 02°30'07"East,with a west boundary line of said Lot 1,a distance of 462.60 feet to a point in the
centerline of Brushy Creek for the southeast corner of the herein described tract;
THENCE,with the meanders of the centerline of Brushy Creek,the following nine(9)courses and distances:
South 71°57'53"West, a distance of 60.23 feet to a calculated point;
South 66°40'03" West,a distance of 90.58 feet to a calculated point;
South 49°32'17" West,a distance of 78.88 feet to a calculated point;
South 40°47'31"West,a distance of 82.04 feet to a calculated point;
South 23°37'12"West,a distance of 81.79 feet to a calculated point;
F1----, 1504 Chisholm Trail Rd 9103
INLAND GEODETIC$ Round Rock,TX 78681
FEXHIIBIT -��/ TBPEIS Firm No. 10059100
512-238-1200 office
VV
Page 2 of 3 Exhibit" "
Proj. No.CORR-006.3 30.00 Acres
October 8, 2024 P.A. Holder Survey,Abstract No.29
Joseph Marshall Survey,Abstract No.409
Willaimson County,Texas
South 28°51'56"West,a distance of 110.18 feet to a calculated point;
South 36°12'44"West,a distance of 282.02 feet to a calculated point;
South 38°03'16"West,a distance of 84.64 feet to a calculated point;
South 47°37'04"West,a distance of 495.33 feet to a calculated point;
THENCE,South 86°26'01" West, leaving said Brushy Creek, a distance of 64.84 feet to a calculated point for the
southwest corner of the herein described tract;
THENCE, North 03°33'59"West, over and across said 156.769 acre tract of land,at a distance of 130.00 feet pass
a 1/2 inch iron rod with cap stamped "INLAND REF POINT"set,continuing in all a total distance of 2122.75 feet to
a 1/2 inch iron rod with cap stamped "INLAND GEODETICS" set for the northwest corner of the herein described
tract;
THENCE, North 86°26'01" East, continuing over and across said 156.769 acre tract of land, a distance of 198.93
feet to the POINT OF BEGINNING and containing 30.00 acres of land,more or less,within these metes and bounds.
Bearings are based on the Texas Coordinate System of 1983,Central Zone,NAD 83(2011).All distances are surface
values represented in US Survey Feet based on a Grid-to-Surface Combined Adjustment Factor of 1.00012.
The use of the word "certify" or"certification" on this document only constitutes an expression of professional
opinion regarding those facts or findings which are the subject of the certification, and does not constitute a
warranty or guarantee,either expressed or implied.
The foregoing metes and bounds description,and survey on which it was based,is accompanied by and a part of
a survey map of the subject tract.
That I, Miguel A. Escobar, a Registered Professional Land Surveyor, do hereby certify that the above description
and the accompanying sketch is true and correct to the best of my knowledge and belief and the property
described herein was determined by a survey made on the ground during the months of September,2024,under
my direct supervision.
WITNESS MY HAND AND SEAL at Round Rock,Williamson County,Texas on this 8th of October,2024,A.D.
INLAND GEODETICS �E OF T
MIG... ANGEL ESC....
Miguel A. Escobar, L.S.L.S., R.P.L.S. ,..5630..
Texas Reg. No.5630 Fess%0
1504 Chisholm Trail Rd#103 qN� SUR`1�y�
Round Rock,TX 78681
TBPELS Firm No. 10059100
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1504 Chisholm Trail Rd#103
puy GRgIRCS Round Rock,TX 78681
C "��' `r/"' TBPELS Firm No. 10059100
512-238-1200 office
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TEXAS flEC.NO.5530 /� •9URV (� l p'"• CITY OF ROUND ROCK FIRM REG.NO.100591-00
1 REVISED: 10/14/2024 \\ / 1 PROJECT:KALAHARI 30AC BOUNDARY SURVEY SHEET 3 OF 3
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