AMENDMENT TO LEASE AGREEMENT
Exhibit 10.3
AMENDMENT TO LEASE AGREEMENT
THIS AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is entered into as of May 25, 2018 (the “Amendment Date”), by and among HPT PSC PROPERTIES TRUST, a Maryland real estate investment trust, and HPT PSC 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, pursuant to the terms of that certain Lease Agreement, dated as of May 30, 2007, by and among Landlord and Tenant (as successor by merger with Petro Stopping Centers, L.P.), as amended and modified (as so amended and modified, the “Lease”), Landlord leases to Tenant and Tenant leases from Landlord certain premises at various locations, as more particularly described in the Lease; and
WHEREAS, HPT PSC Properties Trust has acquired the fee interest in the real property consisting of approximately six acres of land in Beaumont, Texas (the “Beaumont Parcel”), which Beaumont Parcel is adjacent to the portion of the Leased Property located at 0000 Xxxxxx Xxxx, as more particularly described on Exhibit A-34 to the Lease; and
WHEREAS, HPT PSC Properties Trust has acquired the fee interest in the real property consisting of approximately 3.3 acres of land in Weatherford, Texas (the “Weatherford Parcel”), which Weatherford Parcel is adjacent to the portion of the Leased Property located at 0000 Xxxxx Xx Xxxxx, as more particularly described on Exhibit A-38 to the Lease; and
WHEREAS, Landlord and Tenant desire to amend the Lease to include the Beaumont Parcel and the Weatherford Parcel, subject to the terms and conditions of this Amendment;
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 follows:
1. Capitalized Terms. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Lease.
2. Exhibit 34. Effective as of the Amendment Date, Exhibit A-34 to the Lease is hereby deleted in its entirety and Exhibit A-34 attached hereto is hereby inserted in its place.
3. Exhibit A-38. Effective as of the Amendment Date, Exhibit A-38 to the Lease is hereby deleted in its entirety and Exhibit A-38 attached hereto is hereby inserted in its place.
4. Statement of Limited Liability. THE DECLARATION OF TRUST ESTABLISHING HPT PSC PROPERTIES TRUST, DATED MAY 23, 2007, AS AMENDED AND SUPPLEMENTED, AS FILED WITH THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION OF MARYLAND, PROVIDES THAT NO TRUSTEE, OFFICER, SHAREHOLDER, EMPLOYEE OR AGENT OF HPT PSC PROPERTIES TRUST SHALL BE
HELD TO ANY PERSONAL LIABILITY, JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM AGAINST, HPT PSC PROPERTIES TRUST. ALL PERSONS DEALING WITH HPT PSC PROPERTIES TRUST IN ANY WAY SHALL LOOK ONLY TO THE ASSETS OF HPT PSC PROPERTIES TRUST FOR THE PAYMENT OF ANY SUM OR THE PERFORMANCE OF ANY OBLIGATION.
5. Ratification. As amended hereby, the Lease is hereby ratified and confirmed and all other terms remain in full force and effect.
[Signature Pages Follow]
- 2 -
IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed, as a sealed instrument, as of the date first set forth above.
LANDLORD:
HPT PSC PROPERTIES TRUST
By: /s/ Xxxx X. Murray_____________
Xxxx X. Xxxxxx
President
HPT PSC PROPERTIES LLC
By: /s/ Xxxx X. Murray_____________
Xxxx X. Xxxxxx
President
TENANT:
TA OPERATING LLC
By: /s/ Xxxx X. Xxxxx _____________
Xxxx X. Xxxxx
Executive Vice President and General Counsel
[Signature Page to Amendment to Lease Agreement]
EXHIBIT A-34
[See attached legal description for Beaumont, Texas property]
TRACT V:
Being that certain parcel of land located in Xxxxxx Xxxxxx League, Abstract No. 51, Jefferson County, Texas, and being the residue of a called 39.193 acre tract of land conveyed to Xxxxx X. Xxxxxxxx by Warranty Deed recorded under Jefferson County Clerk’s file No. 8626501, said residue being bounded on the north by that certain 22.47 acre parcel described by metes and bounds in Special Warranty Deed recorded under Jefferson County Clerk’s File No. 2007021521, bounded on the west by the east line of Xxxx 0 & 0 xx Xxxxx 0 xx X.X. Xxxxx’x Beaumont Citrus Fruit Gardens pursuant to the plat recorded in Volume 3, Page 17 of the Map Records of Jefferson County, Texas and being carried under JEFFERSON COUNTY APN 232219-000-005100-00000-9, PROPERTY ID 120050.
EXHIBIT A-38
[See attached legal description for Weatherford, Texas property]
TRACT FIVE:
That certain tract or parcel of land, lying and being located within Xxxxx Xxxxx Survey, Abstract No. 724, Xxxxxx County, Texas, and being bounded on the East by a 27.29 acre parcel described in Warranty Deed to Desarrollo Texas I, LP recorded in Volume 2171, Page 573. on the West and the North by those tracts described in Special Warranty Deed to HPT PSC Properties Trust recorded in Volume 2544, Page 1151 of the Real Property Records of Xxxxxx County, and bounded on the south by Interstate Highway Xx. 00 xxxxxxxx xxxx.
