04-15-24 Contract for Development Addendum - HotelCONTRACT FOR PRIVATE DEVELOPMENT ADDENDUM
This Contract for Private Development Addendum ("Addendum") is effective �� 1S,
2024.
BETWEEN: City of Kalispell, Montana, a Montana municipal corporation
(the "City") with offices at 201 V Ave. E., Kalispell, MT 59901.
AND: Kalispell Urban Resort Partners, LLC (the "Purchaser") of
2081 It Ave. E., Kalispell, MT 59901.
WHEREAS, the Parties entered into the Contract for Private Development on January 19, 2022
(the "Contract").
WHEREAS, the Parties desire to amend the Contract on the terms and conditions set forth in this
Addendum.
WHEREAS, this Addendum is the first amendment to the Contract, excluding prior agreements
by the Parties to extend the deadlines set for in the Contract.
NOW, THEREFORE, the Parties agree to amend their obligations in the existing Contract and
other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
Parties agree to keep, perform, and fiilfill the promises, conditions, and agreements below:
Section 1. Amendments.
Section 1.1 Financing Contingency Amendment. Section 3.4 of the Contract shall be
amended as follows: This agreement shall be contingent upon Purchaser's ability to obtain
financing for the Minimum Improvements, and if Purchaser is unable to obtain financing by
March 31, 2029, this agreement shall be terminated, of no further force and effect, and the parties
shall have no further obligation to each other. The property shall not be transferred to the
Purchaser until this Contingency has been satisfied.
Section 1.2 Commencement and Completion of Construction Amendment. Section 4.4 of
the Contract shall be amended as follows: Subject to Unavoidable Delays, the Purchaser shall
commence construction (submission of building plans) of the Minimum Improvements no later
than March 31, 2029. Subject to Unavoidable Delays, the Purchaser shall have substantially
completed the construction of the Minimum Improvements no later than June 30, 2031. All
work with respect to the Minimum Improvements to be constructed or provided by the Purchaser
on the Development Property shall be in conformity with the Construction Plans. The Purchaser
shall make such reports to the City regarding construction of the Minimum Improvements as the
City deems necessary or helpful in order to monitor progress on construction of the Minimum
Improvements.
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Section 1.3 Consideration for Extensions. As consideration for the extensions granted by
the City in this Addendum and the Addendum to the Development Contract (executed
contemporaneously with this Addendum), Purchaser agrees to pay quarterly payments to the City
in the amount of $13,500.00 until such time as Purchaser commences construction (submission
of building plans) of the Minimum Improvements. Such payments shall be made to the City by
June 30, September 30, December 30, and March 30 of each year. Should Purchaser continence
construction prior to its next payment due date, Purchaser shall pay the pro rata share of the
payment to the City. Should Purchaser fail to make a payment under the terms of this Section,
the Contract, the Development Contract, this Addendum, and the Addendum to the Development
Contract shall be terminated, of no further force and effect, and the parties shall have no further
obligation to each other.
Section 2. No Other Changes. Except as otherwise expressly provided in this Agreement, all
of the terms and conditions of the Contract remain unchanged and in full force and effect. All
terms within this Addendum shall have the meanings given in the Contract unless a different
meaning clearly appears from the context.
CITY OF KALISPELL, MONTANA
By
Do uss ity Manager
STATE OF MONTANA )
) ss.
County of Flathead )
On this Ci day of-,J t.► n A—, , 2024, before me, a Notary Public for the State of
Montana, personally appeared Doug Russell, proved to me to be the person whose name is
subscribed to the written instrument, and acknowledged to me that he executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official sea] the
day and year hereinabove first written.
ANOMYP LIC for the State of Montana
Printed Name:
SEAL Residing at:
My Commission expires:
AIMEE BRUNCKHORST
NOTARY PUBLIC for the
State of Montana
'a OTARIAL Residing at
N seAt rQ\ Lakeside, Montana
OFMOP` My Commission Expires
'''/��"� December04, 2024
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Kalispell Urban Resort Partners, LLC
By Montana Hotel Development Partners, LLC
Manager of Kalispell Urban Resort Partners, LLC
By: BDD, LLC
Member of tanarl�lotel Development Partners, LLC
By:
Bill dbe ,Manager of BDD, LLC
STATE OF AO Zosg )
ss.
Countyof M Q Y: to � )
On this 1 day of i, 2024, before me, a Notary Public for the State of
j!Af, (ye\A , personally appeared Bill Goldberg, as Manager of BDD, LLC, which is a
Member of Montana Hotel Development Partners, LLC, which is the Manager of Kalispell
Urban Resort Partners, LLC, proved to me to be the person whose name is subscribed to the
written instrument, and acknowledged to me that he executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the
D-day and year hereinabove first written.
ni��erar� KUSHAN PANDIT
0 Notary Public - Arizona
MARICOPA County Commission 11643170 k NO PUBLIC for the State of ° ZOrq
N' =
My Comm. Expires MARCH 21, 202'/ Printed Name:ys c �c
SEAL Residing at: 1\a >^°
Or
My Commission
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