HomeMy WebLinkAboutAmendment Oshkosh Investors LLC Convention Center Oshkosh Area Community FoundationAMENDMENT TO MANAGEMENT AGREEMENT
This Amendment to Management Agreement is made and entered into as of the
day of , 2018, by and between the City of Oshkosh, a Wisconsin
municipal corporatio with its principal offices at 215 Church Avenue, Oshkosh,
Wisconsin 54903-1130 (hereinafter "City"), and the Oshkosh Investors, LLC, a Wisconsin
limited liability company formed pursuant to the laws of Wisconsin with its principal office
at 1 North Main Street, Oshkosh, Wisconsin 54901 (hereinafter "Operator").
RECITALS
WHEREAS, the City is the owner of certain property within its municipal
boundaries identified as the Oshkosh Convention Center ("Convention Center") located
at 2 North Main Street; and
WHEREAS, the City and the Operator have previously entered into a Management
Agreement dated May 16, 2012 for the operation of the Convention Center, Amended on
June 10, 2013; and
WHEREAS, the original term for the Agreement was for the period from May 14,
2012 through December 31, 2020 and provided for one five (5) year renewal period upon
the same terms and conditions; and
WHEREAS, the Agreement further provided for additional five (5) year renewal
periods; and
WHEREAS, the Operator has requested renewal of the agreement through
December 31, 2030; and
WHEREAS, the parties also wish to increase the portion of gross revenue to be
paid under the terms of the Agreement to the Oshkosh Area Community Foundation
(OACF) in repayment of a loan for improvements to the Center; and
WHEREAS, the parties agree that they each receive a business benefit through
this amendment.
THEREFORE, in consideration of the mutual promises and covenants contained
herein and other good and valuable consideration, the receipt and sufficiency whereof is
acknowledged, the parties agree to amend the Management Agreement as follows:
1. The term of the Agreement as provided in Paragraph 3.b. of the original Agreement
shall be modified to terminate on December 31, 2030.
2. Paragraph 5.a. of the original Agreement shall be modified to read as follows:
5. Payments to Oshkosh Area Community Foundation.
a. The Operator shall pay two percent (2%) of the gross revenue from the
Convention Center to the Oshkosh Area Community Foundation ("OACF") to
repay OACF's loan for the Convention Center improvements which shall
include all food and beverages sold and served by the Operator at the
Convention Center, whether prepared at the Convention Center or elsewhere.
All rights and responsibilities under the original Management Agreement as previously
amended between these parties not specifically amended by this amendment shall
remain in effect.
IN,WITNESS WHEREOF, the City and Operator have executed this Agreement as
of the date set forth above.
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Date: S (�
Date:
CITY OF OSHKOSH, WISCONSIN
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By: _�
Mark A. Rohloff, City Manager
By:
Pamela R. Ubrig, City erk
Approved as to form:
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Date:
Date: A (�'� `14�
OSHKOSH INVESTORS, LLC
By UW -OSHKOSH FOUNDATION
HOTEL PROJECT, LLC, Manager
By: 7: t� C—)Aj-�'
OSHKOSH HOTEL VENTURE, LLC,
Mana
By:
John Pfefferie