AMENDMENT

PARTIES:

TO CONCESSION

AGREEMENT

TOWN OF OYSTER BAY, a municipal corporation of the State of

New York, having its principal office at Town Hall, Audrey
Avenue, Oyster Bay, New York 11771, and hereinafter referred to
as the "TOWN"; acting for and on behalf of the DEPARTMENT
OF PARKS, and hereinafter referred to as the "DEPARTMENT';
SRB CONVENTION
AND CATERING
CORP .. , having its
principal place of business at 150 Hicksville Road, Bethpage, New
York 11714, hereinafter referred to as the "CONCESSIONAIRE".

WITNESSETH:
WHEREAS,
hereto entered
concession
2001

by Resolution

into an agreement

No. 638-2000,

(the "Agreement")

at the TOWN Golf Course Facility

through

$2,097,000

December

31,

at the Facility;

and

WHEREAS,

2020,

the value of the capital

$4,600,000,

and the TOWN exercised

for the operation

(the "Facility"),

and to make capital

by Resolution

established

adopted on October 3, 2000, the parties

No. 313-2005,

improvements

of a food and beverage

for the period from January 1,

improvements

in the amount

of

adopted on April 19, 2005, the parties

performed

to date at the Facility

the ten-year renewal option contained

as being

in the Agreement;

and
WHEREAS,
to the Facility

in excess

of $350,000,

the amount of $3,250,000

the TOWN,
Agreement

the CONCESSIONAIRE
and proposed

then made additional

to make additional

to the facility, and in consideration

by Resolution
through December

No.

889-2008,

31, 2049; and

adopted

capital improvements

capital improvements

in

of the new capital improvements,

on September

16,

2008,

extended

the

WHEREAS, the TOWN and the CONCESSIONAIRE

Agreement in connection with the CONCESSIONAIRE'S

wish to further amend the

obtaining financing for the required

capital improvements to the Facility and other matters.

Accordingly, the TOWN and the CONCESSIONAIRE agree as follows:
1.

The following

subparagraph

(i) is added to Paragraph

32 of the

Agreement:
"h) A default or event of default occurs under
CONCESSIONAIRE'S
credit facility with its
designated financing entity ("Credit Facility")
which continues beyond any applicable period for
grace and cure. With respect to any default under
this subparagraph (i) of Paragraph 32 of this
Agreement, CONCESSIONAIRE'S period of grace
and cure shall be controlled by the loan documents
for the Credit Facility, and the 60 day period set
forth in the ful1 paragraph following this
subparagraph (h) shall not apply."
2.

The existing second to last paragraph of Paragraph 32 of the Agreement is

deleted in its entirety, and replaced with the following:

"If the TOWN terminates the Agreement for any
reason prior to April 30, 2025, the TOWN shall pay
CONCESSIONAIRE a termination payment equal
to the greater of (a) $2,000,000 or (b) if but only if
the TOWN terminates this Agreement for any
reason
other
than the
default
of the
CONCESSIONAIRE, the TOWN shall pay to the
CONCESSIONAIRE a sum equal to 5% of the
capital improvements made to the facility by the
CONCESSIONAIRE, for each year or part of a year
remaining in the initial term of this Agreement,
including any remaining renewal options, up to
100% of the value of said improvements, in either
case of (a) or (b) if and only if CONCESSIONAIRE
and Harendra Singh have executed and delivered to
the TOWN the General Release and Covenant not
to Sue substantially in form and substance as set
forth in Exhibit A attached hereto. After April 30,
2025, if the TOWN terminates this Agreement for

any reason
other than the default of the
CONCESSIONAIRE,
the TOWN shall pay to the
CONCESSIONAIRE
a sum equal to 5% of the
capital improvements made to the facility by the
CONCESSIONAIRE,
for each year or part of a year
remaining in the initial term of this Agreement,
including any remaining renewal options, up to
100% of the value of said improvements."

3.
CONCESSIONAIRE

In

accordance

with

Paragraph

will, upon written notification

32

of

the

to a financing entity, pursuant to

paragraph 32 of the Agreement.

Signatures

appear on the following page.]

the

to the TOWN, assign its rights to receive

amounts payable from the TOWN to the CONCESSIONAIRE,

[End of text.

Agreement,

IN WITNESS
TOWN OF OYSTER

WHEREOF,

SRB CONVENTION

AND CATERING

CORP. and the

BAY have executed this Amendment to the Agreement on the dates

indicated below.

By:
e:
Title:
Date Signed:

Supervisor
June~,
2010

,=Rec:; ~
Deputy Town Attorney
SRB CONVENTION

By:

ifBf'kJ[;gI)
9110ti-Name:
Title: President
Date Signed: June~,

AND CATERING

~
2010

CORP.

STATE OF NEW YORK)

) ss.:
COUNTY OF NASSAU)

. 0""""

On this {)

~~v

~t.~~\

\\0

resides at\\S~.\<.\W\~
Oyster

/.

, 20 1 0, before me personally

)lU\t.

\-\~~e.~~

; that he is the

corporation

described

of the Town

S~e.~\.l\s.c>(l....

herein

that he knows the seal of said corporation;

such corporate

came

, to me known, who, being by me duly sworn, did depose and say that he

Bay, the municipal

instrument;

day of

and which executed

of

the foregoing

that the seal affixed to said instrument is

seal; that it was so affixed by order of the Town Board of said corporation,

and

that he signed his name thereto by like order.

LOIS A. TRIPODO
NOTARY PUBUC, State oJ New York
No. 304828015
Qualified in Nassau Coullhf.., _
Commission Expires Aug. 3~(

ST ATE OF NEW YORK)

COUNTY OF NASSAU

) ss.:
)

On this

HAl?/7r!tIM-

:Sl )7}'){

ad/6LaUlZel

AND CATERING
and which executed

[/fIVe,

CORP,

came

t....aure..Ilc)/tJ
; that

Il

4..

he is the

fr"'iES

of SRB CONVENTION

and has authority to sign on behalf of said corporation,

the foregoing instrument,

seal affixed to said instrument

corporate

,20 1 0, before me personally

day o~

,to me known, who, being by me duly sworn, did depose and say that he
.

resides

described

that he knows the seal of said corporation;

by order of the Board of Directors

seal and that he signed his name thereto by l1?rder.

of said corporation

PATRICIA

is said

tlJLan1.I1L

~A
tS
Stale of Ne\J Yurk

Notary PubliC.
Qualified
in (-Jassdu

that the

_.~

kdzt'ut

County

No.3~62014~~~

J"rr.oe:::("F

in

Exhibit A
General Release of all Liability
SRB Convention
their affiliates,
consideration

and their respective,

successors

and assigns (collectively,

of a payment from Town of Oyster Bay in connection

certain Concession
hereby releases,
appointed

and Catering Corp. and Harendra Singh, for themselves

Agreement dated April 19,2005,

waives and forever discharges

officials,

and its employees,

and each of

"Releasing

with the termination

as amended ("Concession

executions,

agreements,

promises,

in

of a

Agreement"),

the Town of Oyster Bay, its elected and

agents and attorneys (collectively,

"Released

from all actions, causes of action, suits, debts, sums of money, accounts, invoices,
controversies,

Parties"),

variances, trespasses,

damages, judgments,

Parties"),

contracts,
extents,

claims, and demands, in law or equity, which anyone or more of the Releasing Parties

ever had, now have or may have had against anyone or more of the Released Parties for any
reason, from the beginning of the world to the date of this Release.
The Releasing

Parties agree that the release contained herein is an essential

and material

term of this Release and that the payment made by the Town of Oyster Bay in connection
this Release is intended to be in full satisfaction
incurred by the Releasing

of any alleged injuries or damages suffered or

Parties.

None of the Releasing

against any Released

with

Parties shall institute any action or proceeding,

at law or in equity,

Party, nor institute, prosecute or in any way assist, cooperate

provide information to any person in the institution or prosecution

or cause of action for damages,

costs, loss of services,

expenses,

with or

of any claim, demand, action,

or compensation

for or on

account of any damage, loss or injury either to person or property, or both relating to or arising
out of the termination

of the Concession

Agreement.

The person signing this Release and Covenant not to Sue on behalf of the undersigned
warrants and represents

to the Released Parties that it has full right and authority to execute this

Release for itself and on behalf of the other Releasing

Dated:

6,9 .

,20la

SRB Convention

STATE OF tJe.PJ~lqe/C

) ss.:

COUNTY OF N<u;SClLU.

On the

- day 00,

Parties.

and Catering Corp.

in the year 20 /6, before me, the undersigned, personally appeared

)/,Ib1t?/lc!,ea
personally known to me or proved to me on the basis of satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in hislher/their/ capacity (ies), that by
his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which
the individual(s) acted, executed the instrument, and that such individual made such appearance
before the undersigned in th~ar:er
~
(Insert the city or other political subdivision and
the state or country or other place the acknow edgment was taken).

3 ;~

_~n

(Signature and office of Individual

taking acknowledgment.)

PATRICIA BARANEU .Q

Notary Public,
state of Nu~, \;Irk
Qualified
in l.JaSSdU County
No. 30-4520194
Tsr.m Expir95 M .
y 31, ~/

TOWN OF OYSTER BAY

and

SRB CONVENTION

AND CATERING

AGRE".'MENT

OFFICE

OF THE TO\VN ATTORNEY

TOW:"oI
OF OYSTER B.~ Y

Town Hall- Audrey Avenue

Oyster ga~, N.Y. 11771
(516) 624-6150

CORP.