CM-13-013FIRST AMENDMENT TO TEMPORARY PROPERTY
MANAGEMENT AGREEMENT
This First Amended Agreement is made and entered into as of the27Iday of tCh,
2013, by and between the City of Round Rock (hereinafter "City") and DT Land Group, Inc., a
Texas corporation (hereinafter "Manager").
WHEREAS, on the 30th day of November, 2012, City and Manager entered into a
Temporary Property Management Agreement (the "Agreement") to manage, operate and
maintain certain real property owned by the City and commonly known as Round Rock
Commons; and
WHEREAS, the City and Manager now desire to amend said Agreement to allow for
Manager to lease individual units within the Property on behalf of the City and to receive
commensurate compensation for these efforts.
NOW THEREFORE, in consideration of the covenants and agreements herein contained,
the parties agree to amend the Agreement by adding a new Section 9, which shall read as
follows:
9.01 Leasing Commission.
(a) City hereby designates Manager as City's exclusive agent and broker in
connection with City's leasing all or any part of the Property.
(b) With respect to each lease agreement for the Property entered into by City during
the term of this Agreement, City shall pay Manager a commission ("Leasing Commission")
equal to the amount specified in Schedule I attached hereto and incorporated herein by reference.
The Lease Commission shall be payable on the date set forth in Schedule I, attached hereto.
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IN WITNESS THEREOF, the First Amended Agreement has been executed in multiple original
counterparts each of which shall be an original but which together shall constitute but one and
the same agreement, effective as of the date first written above.
CI
By:
Steve Norwood, City Manager
DT L ND GROU , INC.
By: ,t�ti apeenZtan..)
Its:
SCHEDULE I
Leasing Commissions
A. Where no co -broker is involved, Manager shall receive four percent (4 %) of all
rentals for the primary term of the lease, payable one-half on lease execution and the balance on
the earlier of the commencement of the lease or the date the tenant opens for business in the
leased space;
B. Where a co -broker is involved, Manager shall receive two percent (2 %) of all
rentals for the primary lease term of the lease, payable one-half on lease execution and the
balance on the earlier of the lease commencement or the date the tenant opens for business in the
leased space;
C. As to any lease renewals where no co -broker is involved, Manager shall receive
two percent (2 %) of all rentals to be received during the renewal term, payable upon execution
of the lease renewal; and
D. As to any lease renewals where a co -broker is involved, Manager shall receive the
greater of two percent (2 %) of all rentals to be received during the renewal termwith the
commission to Manager payable upon execution of the lease renewal.
The term "rentals" shall include all required minimum guaranteed rental payments
excluding estimates of operating expense fees, tax and insurance reimbursement fees and
percentage rentals, but shall include escalations in minimum guaranteed rent that have been
predetermined.
If a co -broker is involved in the lease, the Owner shall be solely responsible for paying
any co -broker fees or commissions and any agreements with the co -broker for such fees or
commissions shall be entered into directly between Owner and the co -broker.
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