Exhibit 10.2
FIRST AMENDMENT TO
AMENDED AND RESTATED LEASE AGREEMENT NO. 4
THIS FIRST AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT NO. 4 (this “Amendment”) is made and entered into as of June 16, 2015 by and between HPT TA PROPERTIES TRUST, a Maryland real estate investment trust, and HPT TA PROPERTIES LLC, a Maryland limited liability company, as landlord (collectively, “Landlord”), and TA OPERATING LLC, a Delaware limited liability company, as tenant (“Tenant”).
W I T N E S S E T H:
WHEREAS, Landlord and Tenant are parties to that certain Amended and Restated Lease Agreement No. 4, dated as of June 9, 2015 (the “Lease”), pursuant to which Landlord leases to Tenant and Tenant leases from Landlord certain land and/or improvements, all as set forth in the Lease; and
WHEREAS, as of the date of this Amendment, HPT TA Properties Trust has acquired from Tenant certain land and improvements comprising a travel center having an address at 15874 Eleven Mile Road, Battle Creek, Michigan 49014, as further described on Exhibit A-37 attached to this Amendment (collectively, the “Battle Creek Property”); and
WHEREAS, Landlord and Tenant desire to amend the Lease to include the Battle Creek Property as a Property (as defined in the Lease);
NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree, as of the date of this Amendment, as follows:
1. Capitalized Terms. Capitalized terms used and not otherwise defined in this Amendment shall have the meanings given such terms in the Lease.
2. Commencement Date. The defined term “Commencement Date” shall mean, with respect to the Battle Creek Property, the date of this Amendment.
3. Minimum Rent. The defined term “Minimum Rent” set forth in Section 1.68 of the Lease is hereby deleted in its entirety and replaced with the following:
“Minimum Rent” shall mean Forty-One Million Eight Hundred Thirty-Seven Thousand Six Hundred Thirty-One Dollars ($41,837,631), subject to adjustment as provided in Section 3.1.1(b).
4. Leased Property. Section 2.1(a) of the Lease is hereby amended by deleting the reference to “Exhibits A-1 through A-36” in the second line thereof and replacing it with a reference to “Exhibits A-1 through A-37”.
5. Exhibit A. Exhibit A to the Lease is hereby amended by (a) deleting the initial page entitled “EXHIBITS A-1 through A-36” therefrom in its entirety and replacing it with the page entitled “EXHIBITS A-1 through A-37” attached hereto and (b) adding Exhibit A-37 attached to this Amendment immediately following Exhibit A-36 to the Lease.
6. Exhibit B. Exhibit B to the Lease is hereby deleted in its entirety and replaced with Exhibit B attached to this Amendment.
7. Ratification. As amended hereby, the Lease is hereby ratified and confirmed and all other terms remain in full force and effect.
[Signature Page Follows]
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IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed, as a sealed instrument, as of the date first above written.
| LANDLORD: |
| |
| HPT TA PROPERTIES TRUST |
| | |
| | |
| By: | /s/ John G. Murray |
| | John G. Murray |
| | President |
| | |
| | |
| HPT TA PROPERTIES LLC |
| | |
| | |
| By: | /s/ John G. Murray |
| | John G. Murray |
| | President |
| | |
| | |
| TENANT: |
| |
| TA OPERATING LLC |
| | |
| | |
| By: | /s/ Mark R. Young |
| | Mark R. Young |
| | Executive Vice President |
Reference is made to that certain Guaranty Agreement, dated as of June 9, 2015, given by TRAVELCENTERS OF AMERICA LLC, a Delaware limited liability company (the “Guarantor”), to Landlord with respect to Tenant’s obligations under the Lease (the “Guaranty”). Guarantor hereby confirms that all references in such Guaranty to the word “Lease” shall mean the Lease, as defined therein, as amended by this Amendment, and said Guarantor hereby reaffirms the Guaranty.
| TRAVELCENTERS OF AMERICA LLC |
| | |
| | |
| By: | /s/ Mark R. Young |
| | Mark R. Young |
| | Executive Vice President |
[Signature Page to 1st Amendment to Lease No. 4]
EXHIBITS A-1 through A-37
Land
Exhibit | TA Site No. | Property Address |
A-1 | 224 | 1806 Highway 371 W, Prescott, AR 71857. |
A-2 | 41 | 46155 Dillon Road, Coachella, CA 92236. |
A-3 | 346 | 28991 West Gonzaga Rd., Santa Nella, CA 95322. |
A-4 | 148 | 5101 Quebec Street, Commerce City (Denver East), CO 80022. |
A-5 | 22 | 327 Ruby Road, Willington, CT 06279. |
A-6 | 53 | 556 St. Rt. 44, Wildwood, FL 34785. |
A-7 | 45 | P.O. Box 592, Madison, GA 30650. |
A-8 | 367 | 5915 Monee Rd., Monee, IL 60449. |
A-9 | 43 | 4510 Broadway, Mt. Vernon, IL 62864. |
A-10 | 257 | 10346 S. State Rd. 39, Clayton, IN 46118. |
A-11 | 220 | 1600 West US Hwy 20, Porter, IN 46304. |
A-12 | 252 | 2775 US Hwy 75, Lebo (Beto Junction), KS 66856. |
A-13 | 28 | 145 Richwood Road, Walton, KY 41094. |
A-14 | 180 | 1682 Gause Blvd., Slidell, LA 70458. |
A-15 | 19 | 1400 Elkton Road, Elkton, MD 21921. |
A-16 | 175 | 3265 N. Service Road East, Foristell, MO 63348. |
A-17 | 193 | 8033 W. Holling Rd., Alda (Grand Island), NE 68810. |
A-18 | 6 | 2 Simpson Road, Columbia, NJ 07832. |
A-19 | 81 | 2501 University Blvd. NE, Albuquerque, NM 87107. |
A-20 | 207 | 753 Upper Court St., Binghamton, NY 13904. |
A-21 | 194 | 8420 Alleghany Rd., Corfu (Pembroke), NY 14036. |
A-22 | 221 | 153 Wiggins Road, Candler, NC 28715. |
A-23 | 701 | 715 US 250 East, Ashland, OH 44805. |
A-24 | 139 | 12403 US Rt. 35 NW, Jeffersonville, OH 43128. |
A-25 | 95 | 4450 Portage St. NW, North Canton, OH 44720. |
A-26 | 152 | P.O. Box 171, Sayre, OK 73662. |
A-27 | 67 | 5644 SR 8, Harrisville (Barkeyville), PA 16038. |
A-28 | 68 | 5600 Nittany Valley Drive, Lamar, PA 16848. |
A-29 | 179 | 3014 Paxville Highway, Manning, SC 29102. |
A-30 | 245 | 155 Hwy. 138, Denmark (Jackson), TN 38391. |
A-31 | 34 | 111 N. First Street, Nashville, TN 37213. |
A-32 | 150 | 7751 Bonnie View Road, Dallas (South), TX 75241. |
A-33 | 153 | 1010 Beltway Parkway, Laredo, TX 78045. |
A-34 | 232 | 4817 I-35 North, New Braunfels, TX 78130. |
A-35 | 32 | RR1, Valley Grove, WV 26060. |
A-36 | 188 | P.O. Box 400, Ft. Bridger, WY 82933. |
A-37 | 242 | 15874 Eleven Mile Road, Battle Creek, Michigan 49014. |
[See attached copies.]
![GRAPHIC](https://capedge.com/proxy/8-K/0001104659-15-046697/g143571kn05i001.gif)
| EXHIBIT A-37 15874 Eleven Mile Road Battle Creek, Michigan 49014 Real property in the Township of Emmett, County of Calhoun, State of Michigan, described as follows: Parcel I: Parcel of land situated in Emmett Township, Calhoun County, Michigan, all that part of the following described premises lying North of the Northerly Right-of-Way of Highway I-94: Beginning 330 feet South of the Northwest corner of Section 13, Town 2 South, Range 7 West; thence East 505.75 feet; thence South to U.S. Highway #12, formerly Territorial Road and now known as Michigan Avenue; thence Northwesterly on said Highway to the West line of Section 13; thence North to the Place of Beginning. Excepting: Part of the Northwest 1/4 of Section 13, Town 2 South, Range 7 West, Emmett Township, Calhoun County, Michigan, described as: Commencing at the Northwest corner of said Section 13; thence South 00 degrees 09 minutes 47 seconds East 330.00 feet along the West line of said Section 13; thence South 89 degrees 26 minutes 17 seconds East, 505.75 feet; thence South 00 degrees 09 minutes 47 seconds East, 914.10 feet to the Point of Beginning; thence North 89 degrees 19 minutes 40 seconds West, 49.88 feet; thence South 59 degrees 50 minutes 13 seconds West, 62.49 feet; thence South 34 degrees 37 minutes 09 seconds West, 13.42 feet; thence South 60 degrees 09 minutes 47 seconds East, 74.65 feet; thence North 89 degrees 50 minutes 13 seconds East, 47.00 feet; thence North 00 degrees 09 minutes 47 seconds West, 78.86 feet to the Point of Beginning. Parcel II: Also, beginning at the Northwest corner of Section 13, Town 2 South, Range 7 West; running thence East 505.56 feet; thence South 330 feet; thence West 505.56 feet; thence North 330 feet to the Place of Beginning, Township of Emmett, Calhoun County, Michigan. |
EXHIBIT B
NEW PROPERTIES
TA Site No. | | Property Address |
346 | | 28991 West Gonzaga Rd., Santa Nella, CA 95322. |
367 | | 5915 Monee Rd., Monee, IL 60449. |
252 | | 2775 US Hwy 75, Lebo (Beto Junction), KS 66856. |
153 | | 1010 Beltway Parkway, Laredo, TX 78045. |
242 | | 15874 Eleven Mile Road, Battle Creek, Michigan 49014. |