Ammendment of Golf Practice Area EasementsSECOND AMENDMENT TO THE FOURTH MODIFICATION OF USE OF GOLF
PRACTICE AREA EASEMENTS
THIS SECOND AMENDMENT TO THE FOURTH MODIFICATION OF USE OF
GOLF RACTIC 1 AREA EASEMENTS ("Second Amendment") is made as of this ) '64"—
day of 2015 by and between BUTLER NATIONAL GOLF CLUB, an Illinois
not-for-profit corporation ("Club"), and the VILLAGE OF OAK BROOK, ILLINOIS, an
Illinois municipal corporation ("Village").
RECITALS
WHEREAS, pursuant to that certain Indenture of Lease made as of November 1, 1976,
by and between Chicago Title and Trust Company, not individually, but as Trustee under Trust
Agreement dated May 2, 1974, ("Trustee") and known as Trust No. 64294 (the "Trust"), and
Butler Company, an Illinois corporation ("Lease"), Trustee leased certain lands in Oak Brook,
Illinois, to the Club for use as a private golf course (the "Premises"), which lands are legally
described in Exhibit A to the Second Modification of Use of Golf Practice Area Easements
("Second Modification") and Butler Company granted certain easement rights over adjacent
property owned by Butler Company to the Trustee and the Club and their heirs, successors and
assigns; and
WHEREAS, the Club now owns the entire beneficial interest in the Trust; and
WHEREAS, pursuant to the Second Modification, the Village and the Club terminated
the First Modification and modified the Club's right to use certain easements that were granted
in the Lease; and
WHEREAS, the Village and the Club further modified said easements relative to the use
of the Golf Practice Area by the Club pursuant to that certain Third Modification of Use of Golf
Practice Area Easements dated May, 2009 ("Third Modification"); and
WHEREAS, on November 1, 2010, the Village and the Club enter .into that certain
Fourth Modification of Use of Golf Practice Area Easements ("Fourth Modification"), which
extend certain of the rights and obligations of the Third Modification and further modified the
easements relative to the use of the Golf Practice Area by the Club; and
WHEREAS, on November 2014, the Village and the Club entered into that certain
Amendment to the Fourth Modification of Use of Golf Practice Area Easements
("Amendment"), which extended the term of the Fourth Modification to October 1, 2015; and
WHEREAS, the parties now desire to further amend the Fourth Modification to extend
its term for an additional year pursuant to the terms of this Second Amendment;
NOW THEREFORE, for and in consideration of the recitals set forth above and other
good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby
acknowledged, the Parties hereto agree as follows:
Approved as to Form
Date: !o f
A. Amendment of Paragraph 7 of the Fourth Modification. The Club and the Village
acknowledge and agree that Paragraph 7 of the Fourth Modification shall be further
amended and be replaced with the following:
Club's Cost and Expenses. Prior to the year beginning January 1, 2011,
the Club shall pay all costs and expenses pursuant to the Third
Modification. In connection with the Club's use of the Practice Property,
the Club shall pay all costs and expenses of maintaining Parcel Four for
golf practice proposes, including, without limitation, seeding, mowing,
irrigating, fertilizing, draining and sodding. The Club shall also pay the
Village a sum of $22,674.00 for such use of the Golf Practice Area for the
twelve months beginning January 1, 2011. This use charge shall be
increased or decreased for each succeeding twelve-month period (but the
annual use charge shall never be less than $10,000.00 nor more than
$35,000.00) by a percentage equivalent to the percentage change
(hereinafter the "Percentage Change") in the index defined below for (A)
the month of February preceding the year for such use as compared with
(B) the index for the preceding February. The "Index" as used herein
shall mean the "Consumer Price Index for Urban Wage Earners and
Clerical Workers, All Items 1967=100 for the City of Chicago," then
being published, the successor or the most nearly comparable successor
index thereto. In addition to the above amount the Club shall pay the
Village the sum (the "Additional Payment") of $25,000 for the calendar
year 2011; $40,000.00 for each of the calendar years 2012, 2013 and
2014; $35,000 for period from January 1, 2015 to October 1, 2015; and
$40,000.00 for the period from October 2, 2015 to October 1, 2016. All
payments due hereunder for any calendar year shall be due and payable on
November 1 of each applicable calendar year.
B. Amendment of Paragraph 11.b of the Fourth Modification. The Club and the Village
acknowledge and agree that Paragraph l Lb of the Fourth Modification shall be replaced
with the following:
b. The terns of this Fourth Modification shall commence on January
1, 2011, and continue until October 1, 2016. Prior to January 1,
2011, the Third Modification shall govern the matters set forth
therein, but such Third Modification shall terminate on December
31, 2010.
C. Effect of Amendment. The Parties acknowledge and agree that this Second Amendment
modifies and amends the Fourth Modification, and the terms and provisions hereof shall
supersede and control over any contrary or conflicting terms and provisions set forth in
the Fourth Modification. The Fourth Modification, as amended by this Second
Amendment, is hereby ratified and remains in full force and effect.
[SIGNATURE PAGE FOLLOWS]
#36870832_vl
IN WITNESS WHEREOF, the Club and the Village have respectively executed this
as of the date first above written.
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BUTLER NATION F UB
By: n r-
Printed Name: !-n 1r�5fA- s
Title: I// z) d -k II
Date: GJ
VILLA G r' ROOK .
By:
Village President
Date: