First Amendment to Second Amended and Restated Lease Agreement No. 1, dated as of May 6, 2022, among HPT TA Properties Trust, HPT TA Properties LLC and TA Operating LLC

Contract Categories: Real Estate - Lease Agreements
EX-10.3 2 q22022-exhibit103.htm EX-10.3 Document
Exhibit 10.3
FIRST AMENDMENT TO SECOND AMENDED
AND RESTATED LEASE AGREEMENT NO. 1

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LEASE AGREEMENT NO. 1 (this “First Amendment”) is entered into as of May 6, 2022, by and between HPT TA PROPERTIES TRUST, a Maryland real estate investment trust, and HPT TA PROPERTIES LLC, a Maryland limited liability company (“HPT” and, collectively with HPT TA Properties Trust, “Landlord”), and TA OPERATING LLC, a Delaware limited liability company (“Tenant”).

WHEREAS, Landlord and Tenant are parties to that certain Second Amended and Restated Lease Agreement No. 1, dated as of October 14, 2019 (the “Lease”); and

WHEREAS, the TA Travel Center located at 7265 N. Baker Road, Fremont, Indiana (the “Fremont Property”) is subject to the Lease;
WHEREAS, the Fremont Property is the subject of a ground lease effective as of August 12, 2002 (as assigned from time to time, the “Fremont Lease”), as evidenced by that certain Memorandum of Leases recorded August 20, 2002 as Instrument 02080600 of the records of Steuben County, Indiana; and

WHEREAS, the Fremont Lease has been amended by that certain First Amendment to and Assignment of Lease Agreement, Equipment Lease, and Sewer and Water Well Use Agreement by and among Quadland Corporation, an Ohio corporation, Tewel Corporation, a Delaware corporation, HPT, and Tenant dated as of March 21, 2022 (the “Fremont Amendment”), as evidenced by that certain Notice of First Amendment to and Assignment of Leases recorded March 29, 2022 as Instrument 22030694 of the records of Steuben County, Indiana; and

WHEREAS, the Fremont Amendment assigned from HPT to Tenant the tenant’s interest under the Fremont Lease; and

WHEREAS, Landlord and Tenant desire to amend the Lease to reflect the removal of the Fremont Property from the definitions of “Land” and of “Property” under the Lease, due to the assignment of the Fremont Lease to Tenant;

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree that the Lease is hereby amended as of March 21, 2022, as follows:

1.Capitalized Terms. Capitalized terms used but not otherwise defined in this First Amendment shall have the meanings given such terms in the Lease.

2.Lease Amendment. (a) The list preceding Exhibits A-1 through A-36 of the Lease is hereby deleted in its entirety and replaced with the list attached hereto and incorporated herein by this reference, and (b) Exhibit A-13 of the Lease is hereby deleted in its entirety and replaced with Exhibit A-13 attached hereto and incorporated herein by this reference. Accordingly, the Fremont Property is no longer a Property and the land which previously had been described in Exhibit A-13 is no longer included in the definition of Land, as “Property” and “Land” are defined by Section 2.1 of the Lease.

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3.    Ratification. The Lease, as amended by this First Amendment, is hereby ratified and confirmed. For the avoidance of doubt, all references in the Lease to the “Agreement” shall mean and refer to the Lease as amended by this First Amendment.

IN WITNESS WHEREOF, Landlord and Tenant have executed this First Amendment as a sealed instrument as of the date first above written.
LANDLORD:
HPT TA PROPERTIES TRUST,
a Maryland real estate investment trust
By:    /s/ Todd Hargreaves            
    Name: Todd Hargreaves
    Its: President
HPT TA PROPERTIES LLC,
a Maryland limited liability company
By:    /s/ Todd Hargreaves            
    Name: Todd Hargreaves
    Its: President
TENANT:
TA OPERATING LLC,
a Delaware limited liability company
By:    /s/ Peter J. Crage            
    Name: Peter J. Crage
    Its: E.V.P., C.F.O. & Treasurer

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EXHIBITS A-1 through A-36
LAND
ExhibitTA
Site No.
Property AddressCommencement DateInitial
Base Year
A-12261501 N. Fort Grant Road, Wilcox, AZ 85643June 9, 20152015
A-2311I-40 & I-55 at Club Road, W. Memphis, AR 72301May 30, 20072012
A-316027769 Lagoon Drive, Buttonwillow, CA 93206June 9, 20152015
A-41624325 Guasti Road, Ontario, CA 91761June 9, 20152015
A-516312310 S. Highway 33, Santa Nella, CA 95322June 9, 20152015
A-617412151 W. 44th Avenue, Wheat Ridge (Denver West), CO 80033June 9, 20152015
A-71713 East Industrial Road, Branford (New Haven), CT 06405June 9, 20152015
A-81782112 Highway 71 South, Marianna, FL 32448June 9, 20152015
A-91978909 20th Street, Vero Beach, FL 32966June 9, 20152015
A-101774401 Highway 17, Richmond Hill (Savannah), GA 31324June 9, 20152015
A-114419 N. 430 Route 20, Hampshire (Elgin), IL 60140June 9, 20152015
A-12*236*21 Romines Dr., Morris, IL 60450*June 9, 2015*2015*
A-13Intentionally Deleted
A-143824230 West Highway 24, Remington, IN 47977June 22, 20162017
A-1546224 Highway 65 South, Tallulah, LA 71284June 9, 20152015
A-161517401 Assateague Drive, Jessup, MD 20794June 9, 20152015
A-1789200 Baker Road, Dexter (Ann Arbor), MI 48130June 9, 20152015
A-18472150 Russell Mt. Gilead Rd., Meridian, MS 39301June 9, 20152015
A-191088050 Dean Martin Drive, Las Vegas, NV 89139January 17, 20192015
A-20172200 North McCarran Blvd., Sparks, NV 89431June 9, 20152015
A-21211108 Ocean Drive, Greenland, NH 03840June 9, 20152015
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A-2283404 W. Highway 66, Gallup, NM 87301June 9, 20152015
A-2314202 N. Motel Blvd., Las Cruces, NM 88005June 9, 20152015
A-242089616 Commerce Drive, Dansville, NY 14437June 9, 20152015
A-2524940 US Rt. 42, NE, London, OH 43140June 9, 20152015
A-26158834 Lake Road, Seville, OH 44273June 9, 20152015
A-27585400 Seventy Six Drive, Youngstown, OH 44515June 9, 20152015
A-282126 Buckhorn Road, Bloomsburg, PA 17815June 9, 20152015
A-293245 Allegheny Blvd., Brookville, PA 15825June 9, 20152015
A-3011713011 Old Hickory Blvd., Antioch, TN 37013June 9, 20152015
A-31492105 S. Goliad Street, Rockwall, TX 75087June 9, 20152015
A-32608836 N. Highway 40, Tooele (Salt Lake City), UT 84074June 9, 20152015
A-331431025 Peppers Ferry Rd., Wytheville, VA 24382June 9, 20152015
A-3417646630 North Bend Way, North Bend (Seattle East), WA 98045June 9, 20152015
A-3533910506 West Aero Road, Spokane, WA 99224May 30, 20072012
A-361874000 I-80 Service Rd., Burns (Cheyenne), WY 82053June 9, 20152015

[See attached copies.]

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Exhibit A-13
INTENTIONALLY DELETED