HomeMy WebLinkAbout26-0820 Chip Shots Payroll AMENDMENT TO RESTAURANT
OPERATING SERVICES AGREEMENT
THIS AMENDMENT AGREEMENT (hereinafter referred to as the "Amendment
Agreement") is made and entered into as of the 20 day of August, 2026, by and between the
City of Elgin, an Illinois municipal corporation (hereinafter referred to as the "City"), and Chip
Shots Payroll, LLC, an Illinois limited liability company (hereinafter referred to as the
"Operator").
WHEREAS, the parties hereto have previously entered into a Restaurant Operating
Services Agreement, dated September 4, 2025 (the "Agreement"), by which the Operator has
agreed to develop, operate, and provide management services at the clubhouse facilities and
amenities located at Wing Park Golf Course, 1010 Wing Street, Elgin, Illinois; and
WHEREAS, the City and the Operator desire to amend the Agreement to increase the
amount of the escrow account to be used for the Operator's initial payroll and operational expenses,
and have reached a mutual agreement with respect to the terms of such amendment, as further set
forth herein; and
WHEREAS,the City and the Operator have each determined that it is in their best interests
to amend the Agreement in accordance with the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein,and other good and valuable consideration,the receipt and sufficiency of which are hereby
mutually acknowledged, the parties hereto hereby agree as follows:
1. The above recitals are incorporated into and made a part of this Amendment Agreement as
if fully recited hereby.
2. That Section 4 of the Agreement is hereby amended in its entirety to read as follows:
"4. Escrow Account.
4.1 The City shall establish a non-replenishable escrow account in the amount
of Forty Thousand Dollars($40,000)to be utilized by Operator to provide support for the
Operator's initial payroll and operational expenses during the opening phase of the Chip
Shots Whiskey and Simulator Bar(the"Escrow Account"). The Operator may utilize the
Escrow Account to provide for the payment of payroll and operational expenses as needed
to provide for timely payroll processing and continuity of services, or such other similar
expenses as may be otherwise approved in advance in writing by the City. The Operator
shall be required to repay the full amount of the Escrow Account established under this
Section 4.1 to the City at the end of the Initial Term of this Agreement or,if the term of the
Agreement is renewed, at the end of any Renewal Term. Any other provision to the
contrary in this Agreement notwithstanding,and in addition to any other remedies the City
may have, in the event the Operator fails to repay the full amount of the Escrow Account
at the end of the Initial Term under this Agreement,the City shall be entitled to withhold
from the Operator any amounts that might be due to the Operator under this Agreement
until the Escrow Account has been repaid."
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3. That except as amended by this Amendment Agreement, the terms and provisions of the
Agreement shall remain in full force and effect.
4. That in the event of any conflict between the terms and provisions of the Agreement and
the terms and provisions of this Amendment Agreement, the terms and provisions of this
Amendment Agreement shall control.
IN WITNESS WHEREOF,the City of Elgin and Chip Shots Payroll, LLC, have signed
this Amendment Agreement as of the day and year first above written.
CITY OF ELGIN, an Illinois Municipal CHIP SHOTS PAYROLL,LLC
Corporation
y: 1(. By:
ty Manager
Attest: Its: &ZOI214
City Clerk
Legal Dept\Agreemen d Agr-Restaurant Operating Agr-Chip Shots-Wing Park-8-1 8-26.docx
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