RESOLUTION NO. RS2013-929

A resolution approving the First Amendment to the Amended Ground Lease between The Metropolitan Government of Nashville and Davidson County, acting by and through its authorized representative, the Metropolitan Development and Housing Agency ("Metro"), and Nashville Union Station Hotel, LLC, a Delaware limited liability company (the "Lessee")(Proposal No. 2013M-046PR-001).

WHEREAS, Metro and Union Station, Ltd., a Tennessee limited partnership ("Union Station") are parties to that certain Amended Ground Lease dated October 29, 1985, by and between Metro as lessor and Union Station as lessee, as to which a Memorandum of Lease is of record in Book 6750, Page 343, of the Register’s Office of Davidson County, Tennessee (the "Lease"), concerning certain real estate and improvements located thereon at 1001 Broadway, Nashville, Davidson County, Tennessee, as more fully described in Exhibit A attached to the First Amendment to the Lease and incorporated therein by reference (the "Property"); and,

WHEREAS, by virtue of that certain Master Agreement dated November 21, 1985, by and between Metro and Union Station, Metro consented to the assignment of the Lease to Union Station and to certain improvements to be made to the Property by Union Station; and,

WHEREAS, by virtue of that certain Assignment and Assumption Agreement dated January 31, 1990, by and among Union Station, Metro, and Historic Hotel Partners of Nashville, L.P., a Delaware limited partnership ("Partners"), recorded in Book 8036, Page 326, of the Register’s Office of Davidson County, Tennessee, Partners succeeded to the leasehold estate created by the Lease; and,

WHEREAS, by virtue of that certain Assignment and Assumption Agreement dated July 22, 1997, by and between Partners and Patriot American Hospitality, Inc. ("Patriot"), recorded in Book 10543, Page 247 of the Register’s Office of Davidson County, Tennessee, Patriot succeeded to the leasehold estate created by the Lease; and,

WHEREAS, by virtue of that certain Assignment of Ground Lease dated October 21, 2004, by and between Patriot and LSF4 Union Station, LLC ("LSF"), recorded as Instrument No. 20041022-0127613 in the Register’s Office of Davidson County, Tennessee, LSF succeeded to the leasehold estate created by the Lease; and,

WHEREAS, by virtue of that certain Assignment of Ground Lease dated August 15, 2005, by and between LSF and Lessee, recorded as Instrument No. 20050816-0097191 in the Register's Office of Davidson County, Tennessee, Lessee succeeded to the leasehold estate created by the Lease; and,

WHEREAS, the Lessee has done a creditable job of managing the Hotel during its term as leaseholder and now seeks to extend the term of the Ground Lease until December 31, 2105, to facilitate obtaining additional credit to fund its operations; and,

WHEREAS, Section 23 of the Ground Lease provides that the parties may amend the Ground Lease by executing a written amendment which shall become effective after it has been approved in writing by the Lessee and passed by resolution of the Metropolitan Council; and,

WHEREAS, the Directors of Finance and of the Metropolitan Development and Housing Agency have reviewed the proposed amendment, have no objection to the extension of the term, and deem it to be in the best interests of the Metropolitan Government of Nashville and Davidson County to assist the Lessee by amending and extending the term of the Ground Lease as contemplated herein.

NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That the First Amendment to the Amended Ground Lease between The Metropolitan Government of Nashville and Davidson County, acting by and through its authorized representative, the Metropolitan Development and Housing Agency, and Nashville Union Station Hotel, LLC, attached hereto as Exhibit A, is hereby approved, the term of the Ground Lease extended until December 31, 2105, and the Director of the Metropolitan Development and Housing Agency is hereby authorized to execute same.

Section 2. That this resolution shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Erica Gilmore, Ronnie Steine, Walter Hunt

If you would like a copy of the attachment to any ordinance or resolution, please email your request to the Metro Clerk's Office at metro.clerk@nashville.gov

LEGISLATIVE HISTORY
Referred to:	Planning Commission - Approved Budget & Finance Committee Federal Grants Review Committee Planning & Zoning Committee
Introduced:	December 17, 2013
Adopted:	December 17, 2013
Approved:	December 18, 2013
By: