HomeMy WebLinkAboutCoury Hospitality amendment (executed)ANIVINDMEN1 10)
This Amendment (the "Amendment"} t3�he Hotel evelopment Consulting Agreement (the
"Agreement") is hereby entered into aq of the L�. day of dQ 2018, by and between COURY
HosPjT,%i.rrY and THE; CITY OF CARMEL REDEVELOPMENT COMMISSION ("CRC,") on the following terms
and conditions.
WHEREAS.. the parties entered into the Agreement on May 25, 2017;
WHEREAS, the parties, along with certain third parties; have entered into a term sheet and are
nego
tiating the Management Agreement. and
WFTERE.AS, in consideration of the Management Agreement negotiations, the parties intend to
arnend the Agreement to reflect new consulting fees terms,
NOW, THEREFORE, in consideration of the mutual covenants condition and agreements
contained herein, the parties agree as follows:
1. Btfinitions, Any terms not otherwise defined herein shall have the same meaning as set forth
in the Agreement,
2, Changts to Flxbibit A yftbj!Agrcement.
Part I of Exhibit A of the Agreement shall be amended from $20,000 per month as follows: $15,000 per
month for the months of March, April and May 2018 and $10,000 per month thereafter during the Term.
3. Remaining Terms. All other terms of the Agreement shall remain in place unaffected.
4. Authority, t,
Each undersigned person executing this Agreement on behalf of Coury and CRC represents and certifies
that: (a) he or she is empowered, and has been authorized by, all necessary action of Coury and CRC,
respectively' to execute and deliver this Agreement; (b) he or she has Full capacity, power, and authority to
enter into and carry out this Agreement; (c) the execution. delivery, and performance of this Agreement
have been authorized by Coury and CRC, respectively; and (d) this Agreement is the legal, valid, and
binding obligation of Coury and CRC, respectively, enforceable in accordance with its terms and
conditions.
[Signature pages lofiollow]
AmUNDNIFNT TO HOTEL T.XV-m4PMEN'r CONSuLTN(,, AaPEF.,.NtFN-T P A GIL I
IN WITNESS WHEREOF, Coury and CRC have executed this Agreement as of the date set forth
above.
CR.C,
THE CARMEL RI. DEVELOPMENT COMMISSION,
INDIANA, f
By:
By:
COURY: �K�
COURYIRAITIALI l'Y 'aho
By
Its:
(Signature)
Pio
(Printed Nar.c)
ikoor'A ol��
AMENDMENT HoiTL Dfimoptomr CONRIMNc A(;aFFVJE'N'r SfCNA71.JR.F PAGE