HomeMy WebLinkAboutResolution - 2006-R0221 - Amendment To The Master Development Agreement - Overton Park Hotel, LP - 05/11/2006Resolution No. 2006-RO221
May 11, 2006
Item No. 6.3
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor Pro Tem of the City of Lubbock BE and is hereby authorized
and directed to execute for and on behalf of the City of Lubbock an Amendment to the
Master Development Agreement with Overton Park Hotel, LP and Garfield Traub
Development LLC. Said Amendment is attached hereto and incorporated in this
Resolution as if fully set forth herein and shall be included in the minutes of the Council.
Passed by the City Council this 11th
ATTEST:
CD DAD
Rebecca Garza, City Secretary
APPRO ED AS TO CONTENT:
Rob Alli n, Exec Director of
Development Services
APPROVED AS TO FORM:
Linda L. Chamales, Senior Attorney
Office Practice Section
City att / Linda / Res — MDA Amendment
May 1, 2006
day of May , 2006.
�4�'n 1134
TOM MARTIN, MAYOR PRO TEM
Resolution No. 2006-RO221
May 11, 2006
Item No. 6.3
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LUBBOCK §
AMENDMENT TO MASTER DEVELOPMENT AGREEMENT
This Agreement is entered into by the City of Lubbock (the "City"), Overton
Park Hotel, LP ("Owner"), and Garfield Traub Development LLC (Developer").
WITNESSETH:
WHEREAS, City, Owner, and Developer executed a Master Development
Agreement on the 24th day of February, 2006, in which "Pre -Development Feasibility
Period" was defined as the period from the effective date until 90 days, as such date may
be extended by mutual agreement of the Parties, during which the Parties shall diligently
and in good faith attempt to accomplish and mutually agree upon all of the matters
enumerated in Article 3; and
WHEREAS, City, Owner, and Developer desire to amend the Agreement by
extending the end of Pre -Development Feasibility Period to June 30, 2006;
Amendment to Master Development Agreement
k
NOW THEREFORE, City, Owner and Developer agree as follows:
The end of the Pre -Development Feasibility Period is hereby extended from May
25, 2006 to June 30, 2006.
Executed this 11th day of 14aY _'2006.
CITY OF LUBBOCK OVERTON PARK HOTEL, LP,
a Texas Limited Partnership
By: GTHC Overton Park GP, LP, a
TOM MARTIN, MAY PRO TEM Texas Limited Partnership, as
General Partner
ATTEST:
Reb6cca Garza, City Secretary
APPROV AS 1;Q CONTENT: }
G�--�
Rob Allis -on, E
Develop iifi Services
APPROVED AS TO FORM:
Linda Chamales, Senior
Attorney—Office Practice
LC: cityatt/Linda/MDA Amendment
May 1, 2006
By: Gal -Tex Hotel Corporation,
Texas Corporation, as
General Partner
By:
EUGENE LUCAS
President
' 1 1OUT DI I Wil
IM
to ov
lid
Amendment to Master Development Agreement
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