Northpoint Hotel Group, LLC-Second Amendment to Tax Abatement Agreement-CN 2021-07-13STATE OF TEXAS § SECOND AMENDMENT TO
§ TAx ABATEMENT AGREEMENT
COUNTY OF DALLAS §
This Second Amendment to Tax Abatement Agreement (the "Second Amendment") is
entered into by and between the City of Coppell, Texas (the "City"), and Northpoint Hotel Group,
LLC, a Texas limited liability company ("Owner") (each a "Party" and collectively the "Parties"),
acting by and through their authorized representatives.
WITNESSETH:
WHEREAS, the Parties previously entered into that certain Tax Abatement Agreement dated
November 25, 2018, as amended by that certain First Amendment to Tax Abatement Agreement dated
July 22, 2020 (collectively the "Tax Abatement Agreement"); and
WHEREAS, the Parties desire to amend Section 4.2 by amending the date for Completion of
Construction of the Improvements (as defined in the Tax Abatement Agreement") as set forth herein;
NOW, THEREFORE, in consideration of the mutual benefits and promises contained
herein and for other good and valuable consideration, the adequacy and receipt of which is hereby
acknowledged, including the expansion of primary employment, the attraction of major investment in
the Zone, which contributes to the economic development of Coppell and the enhancement of the tax
base in the City, the Parties agree as follows:
That Article IV Section 4.2 of the Tax Abatement Agreement is amended to read as
follows:
"4.2 As a condition precedent to the initiation of the Owner's tax abatement
pursuant to this Agreement, Owner agrees, subject to events of Force Majeure, to cause
Commencement of Construction of the Improvements to occur on or before December 31,
2018, and subject to events of Force Majeure to cause Completion of Construction of the
Improvements to occur on or before December 31, 2021, as good and valuable consideration
for this Agreement, and that all construction of the Improvements will be in accordance with
all applicable state and local laws, codes, and regulations (or valid waiver thereof)."
2. The Tax Abatement Agreement, except as amended herein, shall remain in full force
and effect.
This Second Amendment shall be effective on the last date of execution hereof by the
Parties.
4. This Second Amendment may be executed in counterparts. Each of the counterparts
shall be deemed an original instnunent, but all the counterparts shall constitute one and the same
instrument.
PAGE 1 SECOND AMENDMENT TO TAX ABATEMENT AGREEMENT - ALOFT HOTEL
CITY OF COPPELL AND NORTHPOINT HOTEL GROUP, LLC TM 123166)
5. That each Party represents that it has full capacity and authority to grant all rights and
assume all obligations that are granted and assumed under this Agreement.
6. That the recitals to this Second Amendment are true and correct and are incorporated
herein.
EXECUTED on this it_ day of V )2021.
CITY OF COPPELL, TEXAS
By: i (\/ &AQ
Wes Mays, Mayor
Attest:
By: I (A
Ashley Owens, ty Secretary
Approved a o orm:
By: 4
City Attorney
EXECUTED on this day of , 2021.
NORTHPom HOTEL GRouP, LLC
By:
Suketu B. Patel, Manager
PAGE 2 SECOND AMENDMENT TO TAX ABATEMENT AGREEMENT - ALOFT HOTEL
CITY OF COPPELL AND NORTHPOINT HOTEL GROUP, LLC TM 123166)
5. That each Party represents that it has full capacity and authority to grant all rights and
assume all obligations that are granted and assumed under this Agreement.
6. That the recitals to this Second Amendment are true and correct and are incorporated
herein.
EXECUTED on this day of JO 12021.
LIT
CITY OF COPPELL, TE
By: �j
Wes Mays, NTayor
Attest:
55-M
Approved a o or :
By:
City Attorney
Ashley Owens, City Secretary
EXECUTED on this � �ay of 1A4 '2021.
RM
PAGE 2I SECOND AMENDMENT TO TAX ABATEMENT AGREEMENT - ALOFT HOTEL
CITY OF COPPELL AND NORTHPOINT HOTEL GROUP, LLC TM 123166)