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12-01-18-Resolution-Amendment to the Agreement with Sanger Lodging LLC-12/03/2018RESOLUTION NO. 12-01-18 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANGER APPROVING AN AMENDMENT TO THE TERMS AND CONDITIONS OF AN AGREEMENT BY AND BETWEEN THE CITY OF SANGER AND SANGER LODGING, LLC, ATTACHED AS EXHIBIT "A"; PROVIDING FOR A REPEALING CLAUSE; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City entered an agreement with Sanger Lodging, LLC on or about January 5, 2018, styled the "Hotel Occupancy Tax Grant and Economic Development Incentive Agreement" (the "Agreement"); and WHEREAS, due to unforeseen circumstances, the parties believe it is necessary to amend the Agreement; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANGER: SECTION 1. That the City Council hereby approves the terms and conditions of the First Amendment to the Agreement attached hereto as Exhibit "A" and finds that they are in the best interest of the City of Sanger and its citizens. SECTION 2. That the Mayor is authorized to execute the First Amendment to the Agreement on behalf of the City. SECTION 3. That all resolutions of the City heretofore adopted in conflict with the provisions of this Resolution are hereby repealed. SECTION 4. That if any article, paragraph, subdivision, clause or provision of this Resolution be adjudged invalid or held unconstitutional for any reason, such judgement or holding shall not affect the validity of this Resolution or any part or provision thereof other than the part so declared to be invalid or unconstitutional. SECTION 5. That this Resolution shall take effect immediately from and after its passage, and it is accordingly resolved and approved by the City Council as required by law. DULY PASSED by the City Council of the City of Sanger, Texas, on the Aeoday of December 2018. APPROVED: Thomas Muir, Mayor 1 TM 104573 ATTEST: ecretary PROVED S TO O 1 Robert L. Dillard III, City Attorney (rld/11/27/2018) r 2 TM 104573 EXHIBIT A FIRST ANIENDMENT TO HOTEL OCCUPANCY TAX GRANT AND ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT This Hotel Occupancy Tax Grant and Economic Development Incentive Agreement ("Agreement') between the City of Sanger, Texas (the "City"), and Sanger Lodging, LLC, a Texas limited partnership ("Company"), on or about January 5, 2018, requires amendment in part as follows: NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficient of which are hereby acknowledged, the City and Company, intending to be legally bound, hereby covenant and agree to amend the Agreement in part as follows: Section 1. That Section 3,1 of the Agreement is amended to read: "Article III Obligations of Company In consideration for the grant of public funds as set forth in Article IV and Article V below, the Company agrees to perform the following: 3.1 Occupancy and Operation. Company shall, during the Term of this Agreement, construct, occupy, operate and have open to the public one (1) hotel that consists of the following: (1) The hotel shall have a minimum of 77 guest rooms, The brand will be Holiday Inn Express ("Hotel"), (2) A building permit must be applied for and issued, and construction of the Hotel must commence on or before November 1, 2018. The Hotel must have been issued a Certificate of Occupancy by the City within twenty-six (26) months after a building permit is issued. Failure to meet these deadlines will terminate this Agreement." Section 2. This Agreement may be executed in counterparts. Each of the counterparts shall be deemed an original instrument, but all the counterparts shall constitute one and the same instrument. Section 3. Except as amended by this First Amendment, the terms, conditions and provisions of the Agreement shall remain in full force and effect. Section 4. The persons who execute this First Amendment to the Agreement represent and agree that they are authorized to sign and bind their respective parties to all the terms and conditions contained herein. [SIGNATURES ON FOLLOWING PAGE] 104575 EXECUTED the day of `Tw;k'���t� . ATTEST: Cheryl P e, City Secretary A si CITY OF SANGER, TEXAS P V E A, T F N r Robert L, Dillard I1I, City Attorney COMPANY: Sanger Lodging LLC By: JA Lr Name: 0,1� Title: STATE OF TEXAS COUNTY OF DENTON d = e'—) E. Muir, Mayor BEFORE ME, the undersigned authority, on this day personally appeared )0-+a0) PO&O-1 of & o i , known to me to be the person whose name is subscribed to the foregoing instrument aJ aclaiowledged to me that he/she executed the same for the purposes and considerations therein expressed, in the capacity therein stated and as the act and deed of said limited liability company. GIVEN UNDER MY HAND AND SEAL OF OFFICE this A day of 01-111 �L CHRISTY M, BLAND My Notary ID # 12238866 •4�.i�+� Expires February 8, 2021 104575 2dr 0' f_ Notary Pi lie State of Texas