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Resolution Authorizing the Third Amendment to the Second Amended and Restated Fox Valley Ice Arena Facility License Agreement with Centrum East-West Arenas Venture, LLC.
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WHEREAS, it is deemed necessary and desirable to amend and restate the license agreement between the Forest Preserve District of Kane County (licensor) and Centrum East-West Arenas Venture LLC (licensee); and
WHEREAS, Centrum East-West Arenas Venture LLC (Centrum) is seeking to amend Section 3.01 to hereby eliminate the second, third and fourth sentences thereof, which reference the obligation of Licensee to deliver to Licensor an irrevocable standby letter of credit, for security for the payment of annual License Fees, and to instead insert in lieu of such second, third, and fourth sentences, the following:
• “Licensee shall deposit a personal guaranty of Timothy E. Weilandt personally and individually guaranteeing all obligations of Licensee hereunder in an amount of up to Seven Hundred Fifty Thousand Dollars ($750,000.00) in the form attached hereto as Exhibit 1.”
WHEREAS, all other provisions in Section 3.01 shall remain unmodified by the foregoing; and
WHEREAS, In all other respects and except as expressly provided above and in the Exhibits attached hereto, the License Agreement, as previously amended, shall remain in full force and effect. To the extent a conflict arises or exists between this Third Amendment and the original License Agreement, as previously amended, the terms of this Third Amendment shall control.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Forest Preserve District of Kane County that the President and Secretary of the District be, and hereby are, authorized to execute and deliver on behalf of the District said Third Amendment to the Second Amended and Restated License Agreement with Centrum East-West Arenas Venture, LLC. attached hereto and made a part hereof as Exhibit 1.
APPROVED AND PASSED on this 8th day of July, 2025.
___________________________ ____________________________
Bill Lenert Mohammad Iqbal
President, Kane Forest Preserve Secretary, Kane Forest Preserve
Kane County, Illinois Kane County, Illinois