HomeMy WebLinkAbout03-303 Resolution No. 03-303
RESOLUTION
AUTHORIZING EXECUTION OF A SECOND AMENDMENT TO AMENDED AND
RESTATED GROUND LEASE AGREEMENT WITH ELGIN RIVERBOAT RESORT
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Ed Schock, Mayor, and Dolonna Mecum, City Clerk, be
and are hereby authorized and directed to execute a Second
Amendment to Amended and Restated Ground Lease Agreement on behalf
of the City of Elgin with Elgin Riverboat Resort for the riverboat
gaming facility within the City of Elgin, a copy of which is
attached hereto and made a part hereof by reference .
s/Ed Schock
Ed Schock, Mayor
Presented: November 5, 2003
Adopted: November 5, 2003
Omnibus Vote : Yeas : 6 Nays : 0
Attest :
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
SECOND AMENDMENT TO AMENDED
AND RESTATED GROUND LEASE AGREEMENT
THIS SECOND AMENDMENT TO AMENDED AND RESTATED GROUND LEASE
AGREEMENT (this "Amendment") is made and entered into as of the 0 day of N-,P2,,A:
2003, by and between the CITY OF ELGIN, Illinois, an Illinois municipal corporation
("Landlord"), and ELGIN RIVERBOAT RESORT, an Illinois joint venture consisting of
Nevada Landing Partnership and RBG, L.P., as its joint venture partners ("Tenant").
RECITALS:
A. Landlord and Tenant have heretofore entered into that certain Amended and
Restated Ground Lease Agreement, dated December 2, 1998, but effective as of January 20,
1994, by and between Lessor and Lessee, as amended by that certain First Amendment to
Amended and Restated Ground Lease Agreement dated September 8, 1999 (as so amended, the
"Lease").
B. The parties now desire to amend the Lease, as hereinafter set forth.
NOW, THEREFORE, in consideration of the foregoing recitals, which are incorporated
herein by this reference, of the mutual promises herein contained, of the sum of Ten and No/100
($10.00) in hand paid, and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1. Definitions. Capitalized terms used but not defined herein shall have the
meanings set forth in the Lease.
2. Land. Exhibit A attached to the Lease is hereby amended by deleting the
following therefrom:
"Parcel 4:
Lots 4, 5, 6 and the southerly 55 feet of Lots 3 and 7 in Block 2 of Railroad Addition to Elgin, in
the City of Elgin,Kane County, Illinois.
PERMANENT INDEX NO. 06-13-379-017"
3. Full Force and Effect. Except as specifically set forth herein, the Lease shall
remain unmodified and in full force and effect.
NGEDOCS:012769.0001 938599.1
I
IN WITNESS WHEREOF, Landlord and Tenant have made and executed this
Amendment as of the date first set forth above.
LANDLORD:
CITY OF ELGIN, a municipal corporation
By: .,∎—,
Mayor
Attest:
LQt.-Le-v.—
City Clerk
TENANT:
ELGIN RIVERBOAT RESORT, an Illinois
partnership
By: RBG, L.P., one of its general partners
By: HCCA Corporation, its general partner
By: F. .+ T. •
Name: Ernest E. East
Title: v i c. e S t c�tu-E
NGEDOCS:012769.0001 938599.1 2