First Amendment to Second Amended and Restated Lease Agreement No. 3, dated as of October 31, 2022, by and between HPT TA Properties Trust, HPT TA Properties LLC and TA Operating LLC

Contract Categories: Real Estate - Lease Agreements
EX-10.23 3 a1023-firstamendmenttotale.htm EX-10.23 Document
Exhibit 10.23
FIRST AMENDMENT TO SECOND AMENDED
AND RESTATED LEASE AGREEMENT NO. 3

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LEASE AGREEMENT NO. 3 (this “Amendment”) is made and entered into as of October 31, 2022 (the “Effective Date”), by and between HPT TA PROPERTIES TRUST, a Maryland real estate investment trust, and HPT TA PROPERTIES LLC, a Maryland limited liability company, as landlord (collectively, “Landlord”), and TA OPERATING LLC, a Delaware limited liability company, as tenant (“Tenant”).

WHEREAS, Landlord and Tenant are parties to that certain Second Amended and Restated Lease Agreement No. 3, dated as of October 14, 2019 (the “Lease”), pursuant to which Landlord leases to Tenant, and Tenant Leases from Landlord, certain Leased Property (this and other capitalized terms used and not otherwise defined in this Amendment having the meanings given such terms in the Lease), including, without limitation, the Travel Center having an address at 5501 O’Donell Street, Baltimore, Maryland 21224 (the “Baltimore Travel Center”); and

WHEREAS, the Baltimore Travel Center is the subject of that certain Land and Building Lease Agreement, dated as of March 30, 2003, between Realty Income Corporation and HPT TA Properties Trust (the “Baltimore Ground Lease”); and

WHEREAS, effective as to the Effective Date, the Baltimore Ground Lease is being assigned from Landlord to Tenant pursuant to that certain Assignment of Lease; Acceptance of Assignment and Assumption of Lease; Landlord’s Partial Release of Assignor and Consent to Assignment of Lease; and Amendment of Lease, dated as of the Effective Date, among Realty Income Corporation, HPT TA Properties Trust, and Tenant (the “Baltimore Lease Assignment”); and

WHEREAS, Landlord and Tenant desire to amend the Lease to reflect the removal of the Baltimore Travel Center from the Lease in connection with the assignment of the Baltimore Ground Lease from HPT TA Properties Trust to Tenant pursuant to the Baltimore Lease Assignment;

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 the Effective Date as follows:

1.Lease Amendment. (a) The first page of Exhibit A to the Lease scheduling Exhibits A-1 through A-35 of the Lease is hereby replaced with the schedule of Exhibits A-1 through A-35 attached hereto and incorporated herein by this reference, and (b) the text of Exhibit A-13 of the Lease is hereby deleted in its entirety and replaced with “Intentionally deleted”. Accordingly, the Baltimore Travel Center 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.

2.    Ratification. The Lease, as amended by this 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 Amendment.


4855-5471-8801,v.1
{ ###-###-####; 2}    


IN WITNESS WHEREOF, Landlord and Tenant have executed this 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 W. Hargreaves            
    Todd W. Hargreaves
    President
HPT TA PROPERTIES LLC,
a Maryland limited liability company
By:    /s/ Todd W. Hargreaves            
    Todd W. Hargreaves
    President
TENANT:
TA OPERATING LLC,
a Delaware limited liability company
By:    /s/ Mark R. Young          Mark R. Young
Executive Vice President
and General Counsel
[Signature Page to First Amendment to Second Amended and Restated Lease No. 3]


EXHIBITS A-1 THROUGH A-35
LAND
ExhibitTA
Site No.
Property AddressCommencement DateInitial
Base Year
A-1163501 Buttermilk Road, Cottondale (Tuscaloosa), AL 35453June 9, 20152015
A-2264265 East Guasti Road, Ontario, CA 91761June 9, 20152015
A-32282200 Ninth Street, Limon, CO 80828June 9, 20152015
A-41541875 Meriden-Waterbury Turnpike, Milldale, CT 06467June 9, 20152015
A-5247P.O. Box 638, Baldwin, FL 32234June 9, 20152015
A-62582995 US Highway 17 South, Brunswick, GA 31525June 9, 20152015
A-792505 Truckers Lane R.R. #7, Bloomington, IL 61701June 9, 20152015
A-8351702 West Evergreen, Effingham, IL 62401June 9, 20152015
A-93761035 West State Road 42, Brazil, IN 47834June 22, 20162017
A-101735930 E. State Road 334, Whitestown, IN 46075June 9, 20152015
A-11937777 Burlington Pike, Florence, KY 41042June 9, 20152015
A-121611701 N. University Avenue, Lafayette, LA 70507June 9, 20152015
A-13Intentionally Deleted.
A-141166100 Sawyer Road, Sawyer, MI 49125June 9, 20152015
A-1551854 State Highway 80, Matthews, MO 63867June 9, 20152015
A-161816000 E. Frontage Road, Mill City, NV 89418June 9, 20152015
A-172291700 U.S. Route 66 West, Moriarty, NM 87035June 9, 20152015
A-18210125 Neelytown Road, Montgomery (Maybrook), NY 12549June 9, 20152015
A-19701715 US 250 East, Ashland, OHJanuary 17, 20192015
A-20116762 St. Rt. 127, Eaton (Dayton), OH 45320June 9, 20152015
A-21873483 Libbey Road, Perrysburg (Toledo), OH 43551June 9, 20152015
A-2236801 South Council Road, Oklahoma City (East), OK 73128June 9, 20152015
A-23183790 NW Frontage Road, Troutdale, OR 97060June 9, 20152015
A-2421310835 John Wayne Drive, Greencastle, PA 17225June 9, 20152015
A-25214875 N. Eagle Valley Rd., Milesburg, PA 16853June 9, 20152015
A-262382150-2240 Beltline Blvd., Columbia, SCJanuary 17, 20192020
A-27251402 E. Main Street, Duncan (Spartanburg), SC 29334June 9, 20152015
A-28557000 I-40 East Whitaker Road, Amarillo, TX 79118June 9, 20152015
A-29*235*8301 N. Expressway 281, Edinburg, TX 78541*June 9, 2015*2015*
A-30333160 State Highway 77, Hillsboro, TXJanuary 17, 20192019
A-312331700 Wilson Road, Terrell, TX 75161June 9, 20152015
A-321861100 North 130 West, Parowan, UT 84761June 9, 20152015
A-3314210134 Lewison Rd., Ashland, VA 23005June 9, 20152015
A-34505901 Highway 51, DeForest (Madison), WI 53532June 9, 20152015
A-352341400 Higley Blvd., Rawlins, WY 82301June 9, 20152015


[See attached copies.]