Exhibit 10.1

 

 

DEVELOPMENT PROPERTY AGREEMENT

 

between

 

HPT TA PROPERTIES TRUST,

 

as Purchaser,

 

and

 

TA OPERATING LLC ,

 

as Seller

 

 

SEPTEMBER 30, 2016

 

 

 

DEVELOPMENT PROPERTY AGREEMENT

 

THIS DEVELOPMENT PROPERTY AGREEMENT is made and entered into as of September 30, 2016 (the “ Effective Date ”) between HPT TA Properties Trust, a Maryland real estate investment trust, together with any of its successors and assigns as expressly permitted hereunder, as purchaser (“ Purchaser ”), and TA Operating LLC, a Delaware limited liability company, as seller (“ Seller ”).

 

PRELIMINARY STATEMENTS

 

Purchaser and Seller are parties, among others, to that certain Transaction Agreement, dated as of June 1, 2015, as amended by that certain First Amendment to Transaction Agreement, dated as of June 22, 2016 (as so amended, the “ Transaction Agreement ”), pursuant to which Seller agreed to sell and Purchaser agreed to purchase the Property (this and other capitalized terms used and not otherwise defined herein shall have the meaning given such terms in Article 1), subject to and in accordance with the terms and conditions in the Transaction Agreement and as hereinafter set forth.

 

NOW, THEREFORE, it is agreed:

 

ARTICLE 1
DEFINITIONS

 

1.1                                Capitalized Terms .  Capitalized terms used and not otherwise defined in this Agreement shall have the meanings set forth below or in the section of this Agreement referred to below and such definitions shall apply equally to the singular and plural forms of such terms.

 

“ Agreement ”:  this Development Property Agreement, together with all exhibits attached hereto.

 

“ Closing ”:  the closing and consummation of the purchase and sale transaction contemplated by this Agreement.

 

“ Improvements ”:  collectively, all buildings, structures and other improvements of every kind including, but not limited to, underground storage tanks, alleyways and connecting tunnels, sidewalks, utility pipes, conduits and lines (on-site and off-site), parking areas and roadways appurtenant to such buildings and structures situated upon the Land.

 

“ Intangible Property ”:  collectively, all transferable or assignable permits, certificates of occupancy, sign permits, development rights and approvals, certificates, licenses, warranties and guarantees, and all other transferable intangible property, miscellaneous rights, benefits and privileges of any kind or character related to the ownership, and not the operation, of the Land and Improvements, but only to the extent the foregoing is assignable without cost to Seller.

 

“ Internal Revenue Code ”:  the Internal Revenue Code of 1986, as amended and in effect from time to time, and including the applicable Treasury Regulations thereunder.

 

 

“ Land ”:  collectively, all of Seller’s right, title and interest in and to the parcel or parcels of land described in Exhibit A together with all easements and appurtenances related thereto.

 

“ Permitted Encumbrances ”:  collectively, applicable zoning, subdivision, building and other land use laws and regulations; liens for taxes, assessments and governmental charges not yet due and payable or due and payable but not yet delinquent; all matters shown on or referenced in the Title Commitment which are reasonably acceptable to Purchaser; and all matters shown on the Survey which are reasonably acceptable to Purchaser.

 

“ Property ”:  collectively, all of Seller’s right title and interest in and to the Real Property and/or the Intangible Property.

 

“ Purchase Price ”:  Sixteen Million Five Hundred Fifty-Seven Thousand Fifty-Seven and 26/100ths Dollars ($16,557,057.26).

 

“ Purchaser ”:  the meaning given such term in the preamble of this Agreement.

 

“ Real Property ”:  collectively, the Land and the Improvements.

 

“ Seller ”:  the meaning given such term in the preamble of this Agreement.

 

“ Survey ”:  the ALTA/NSPS land title survey of the Real Property prepared by Kevin R. Rasnick and dated September 12, 2016, last revised September 26, 2016.

 

“ Title Commitment ”:  the title commitment for the Real Property issued by the Title Company and dated August 24, 2016.

 

“ Title Company ”:  First American Title Insurance Company.

 

ARTICLE 2
PURCHASE AND SALE; CLOSING

 

2.1                                Purchase and Sale .  In consideration of the payment of the Purchase Price by Purchaser to Seller as herein provided and for other good and valuable consideration, Seller shall sell the Property to Purchaser, and Purchaser shall purchase the Property from Seller, subject to and in accordance with the terms and conditions of this Agreement.

 

2.2                                Closing .  The purchase and sale of the Property shall be consummated contemporaneously with the execution of this Agreement.

 

2.3                                Purchase Price .  The purchase price to be paid by Purchaser to Seller for the Property shall be the Purchase Price.

 

2.4                                IRS Real Estate Sales Reporting .  Seller shall act as “the person responsible for closing” the transaction which is the subject of this Agreement pursuant to Section 6045(e) of the Internal Revenue Code and shall prepare and file all informational returns, including IRS Form 1099-S, and shall otherwise comply with the provisions of Section 6045(e) of the Internal Revenue Code.

 

2

 

ARTICLE 3
CLOSING OBLIGATIONS

 

3.1                                Seller’s Closing Obligations .  On the Effective Date, Seller shall deliver to Purchaser:

 

(i)                          A good and sufficient deed with covenants against grantor’s acts, or its local equivalent, in proper statutory form for recording, duly executed and acknowledged by Seller, conveying good and marketable fee simple title to the Real Property, free from all liens and encumbrances other than the Permitted Encumbrances;

 

(ii)                       A certificate of non-foreign status, pursuant to Section 1445 of the Internal Revenue Code, substantially in the form of Exhibit B , duly executed by TravelCenters of America LLC;

 

(iii)                    An executed counterpart amendment of the Amended and Restated TA Lease designated by Purchaser as contemplated by Section 2.2 of the Transaction Agreement; and

 

(iv)                   Such other conveyance documents, certificates, deeds, affidavits and other instruments as Purchaser, Seller or the Title Company may reasonably require to carry out the transactions contemplated by this Agreement and as are customary in like transactions in the area in which the Real Property is located.

 

3.2                                Assignment and Assumption of Intangible Property and Indemnity .  Seller hereby assigns to Purchaser all of Seller’s right, title and interest in and to the Intangible Property to the extent first arising from and after the Effective Date.  Purchaser hereby assumes all of Seller’s obligations with respect to the Intangible Property to the extent first arising from and after the Effective Date.  Purchaser hereby agrees to perform all of Seller’s obligations with respect to the Intangible Property to the extent first arising from and after the Effective Date.  In each case, subject to any lease or other agreement between Seller and Purchaser that may otherwise allocate responsibilities, Purchaser shall indemnify, defend and hold harmless Seller from and against any and all losses, costs, damages, demands, expenses, fees, fines, including reasonable attorneys’ fees (“ Losses ”) arising from the Intangible Property to the extent first arising from and after the Effective Date and Seller shall indemnify, defend and hold harmless Purchaser from and against any and all Losses arising from the Intangible Property to the extent first arising prior to the Effective Date.

 

3.3                                Purchaser’s Closing Obligation .  On the Effective Date, Purchaser shall pay the Purchase Price to Seller by wire transfer of immediately available funds as instructed by Seller and shall deliver an executed counterpart amendment of the Amended and Restated TA Lease as contemplated by the Transaction Agreement.

 

ARTICLE 4
PRORATIONS

 

4.1                                Proration Items .  Inasmuch as Seller will be leasing the Property from Purchaser on and after the Effective Date, all customary and usual prorations, including for ad valorem real

 

3

 

estate taxes, personal property taxes, assessments or special assessments, water, gas, electric or other utilities, shall be made for the account of Seller as seller under this Agreement or as the tenant under the lease being amended by Seller and Purchaser.

 

4.2                                Survival .  The obligations of the parties under this Article 4 shall survive the Closing.

 

ARTICLE 5
MISCELLANEOUS

 

5.1                                Like-Kind Exchange .  Seller may elect to effectuate the transaction contemplated by this Agreement as part of a forward like-kind exchange in accordance with Section 1031 of the Internal Revenue Code.  In furtherance of the foregoing and notwithstanding anything contained in this Agreement to the contrary, Seller may assign its rights under this Agreement to a “qualified intermediary” in order to facilitate a forward like kind exchange under Section 1031 of the Internal Revenue Code, and Purchaser agrees to execute an instrument acknowledging and consenting to the same; provided , however , such assignment shall not relieve Seller of any of its obligations hereunder.

 

5.2                                Governing Law .  This Agreement shall be interpreted, construed, applied and enforced in accordance with the laws of The Commonwealth of Massachusetts.

 

5.3                                Severability .  If any provision of this Agreement shall be held or deemed to be, or shall in fact be, invalid, inoperative or unenforceable as applied to any particular case in any jurisdiction or jurisdictions, or in all jurisdictions or in all cases, because of the conflict of any provision with any constitution or statute or rule of public policy or for any other reason, such circumstance shall not have the effect of rendering the provision or provisions in question invalid, inoperative or unenforceable in any other jurisdiction or in any other case or circumstance or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to the extent that such other provisions are not themselves actually in conflict with such constitution, statute or rule of public policy, but this Agreement shall be reformed and construed in any such jurisdiction or case as if such invalid, inoperative or unenforceable provision had never been contained herein and such provision reformed so that it would be valid, operative and enforceable to the maximum extent permitted in such jurisdiction or in such case.

 

5.4                                No Third Party Beneficiaries .  This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective legal representatives, successors and permitted assigns.  This Agreement is not intended and shall not be construed to create any rights in or to be enforceable in any part by any other persons.

 

5.5                                Entire Agreement .  This Agreement and the Transaction Agreement constitute the entire agreement of the parties hereto with respect to the subject matter hereof and shall supersede and take the place of any other instruments purporting to be an agreement of the parties hereto relating to the subject matter hereof.

 

5.6                                Merger .  Except with respect to the any obligation expressly stated to survive the Closing, none of the terms or provisions of this Agreement shall survive the Closing, and the

 

4

 

payment of the Purchase Price and delivery of the deed and other closing documents at the Closing shall effect a merger, and be deemed the full performance and discharge of every obligation on the part of Seller and/or Purchaser to be performed hereunder.

 

5.7                                Counterparts .  This Agreement may be executed in one (1) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Any such counterparts or signatures may be delivered by facsimile or e-mail (in .pdf format), and any counterparts or signatures so delivered shall be deemed an original counterpart or signature for all purposes related to this Agreement.

 

5.8                                Section and Other Headings .  The headings contained in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

 

5.9                                Time of Essence .  Time shall be of the essence with respect to the performance of each and every covenant and obligation, and the giving of all notices, under this Agreement.

 

5.10                         STATEMENT OF LIMITED LIABILITY .  THE AMENDED AND RESTATED DECLARATION OF TRUST ESTABLISHING PURCHASER, DATED AS OF NOVEMBER 29, 2006, AS AMENDED AND SUPPLEMENTED, AS FILED WITH THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION OF MARYLAND, PROVIDES THAT NO TRUSTEE, OFFICER, SHAREHOLDER, EMPLOYEE OR AGENT OF PURCHASER SHALL BE HELD TO ANY PERSONAL LIABILITY, JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM AGAINST, PURCHASER.  ALL PERSONS DEALING WITH PURCHASER IN ANY WAY SHALL LOOK ONLY TO THE ASSETS OF PURCHASER FOR THE PAYMENT OF ANY SUM OR THE PERFORMANCE OF ANY OBLIGATION.

 

5.11                         Survival .  The provisions of this Article 5 shall survive the Closing.

 

[Remainder of page intentionally left blank; signature page follows.]

 

5

 

IN WITNESS WHEREOF, Purchaser and Seller have caused this Agreement to be executed as a sealed instrument as of the date first above written.

 

	PURCHASER:
	HPT TA PROPERTIES TRUST
	By:	/s/ John G. Murray
		John G. Murray
		President
	SELLER:
	TA OPERATING LLC
	By:	/s/ Mark R. Young
		Mark R. Young
		Executive Vice President

 

[Signature Page to Development Agreement]

 

 

Exhibit A

 

Legal Description

 

All of that certain land as shown on Plat Cabinet B, Page 568 in the Register’s Office for Campbell County, Tennessee.

 

Together with the non-exclusive right to use two (2) rights of way easement for ingress and egress purposes, including the right to construct and maintain roadways for such purposes, described in Book W480, Page 790, as follows:

 

Easement No. 1:

 

Beginning at an iron pin at the right of way of State Highway 63, near its intersection with Interstate 75, at a corner common with Myers; thence with said Highway S 88 deg. 13’ E 52.5 feet to an iron pin; thence leaving said Highway S 12 deg. 32’ 50” E 309.30 feet to an iron pin; thence N 72 deg. 55’08” W 52.5 feet to an iron pin; thence N 13 deg. 33’39” W 296.36 feet to the point of beginning.

 

Easement No. 2:

 

Beginning at an iron pin at the right of way of State Highway 63, near its intersection with Interstate 75, at a corner common to the Exxon property; thence N 56 deg. 26’ E 56.0 feet to a highway monument at the right of way of Interstate 75; thence with said right of way S 60 deg. 02’ E 681.06 feet to an iron pin; thence S 29 deg. 44’36” 104.13 feet to an iron pin; thence N 44 deg. 05’ W 15 feet to an iron pin; thence N 60 deg. 02’ W 398.41 feet to an iron pin; thence N 67 deg. 34’ E 62.95 feet to an iron pin; thence N 60 deg. 02’ W 269.00 feet to an iron pin at the right of way of State Highway 63, the point of beginning.

 

Being the same property conveyed to TA Operating LLC, a Delaware limited liability company from Nellie Myers by deed of record in Book W480, page 790, in the Register’s Office for Campbell County, Tennessee.

 

For reference only:

 

Tax ID# Map 91, Parcels 004.00, 005.00, 006.00, 007.01, & 007.02

 

Together with a 50’ Access Easement recorded at Book W480, Page 796.

 

 

EXHIBIT B

 

Form of FIRPTA Certificate

 

(See attached)

 

 

FIRPTA CERTIFICATE

 

Section 1445 of the Internal Revenue Code of 1986, as amended, provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. For U.S. federal income tax purposes (including Section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded entity. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by TravelCenters of America LLC, a Delaware limited liability company  (“ Transferor ”), pursuant to the Development Property Agreement, dated as of [ · ], between TA Operating LLC and [HPT entity], Transferor hereby certifies to [transferee entity] (“ Transferee ”) the following:

 

1.                                       Transferor is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and income tax regulations thereunder);

 

2.                                       Transferor is not a disregarded entity as defined in Treasury Regulation Section 1.1445-2(b)(2)(iii);

 

3.                                       TA Operating LLC, which has legal title to one or more transferred U.S. real property interests under local law, is disregarded as an entity separate from Transferor for U.S. federal income tax purposes;

 

4.                                       Transferor’s U.S. employer identification number is 20-5701514; and

 

5.                                       Transferor’s office address is 24601 Center Ridge Road, Westlake, OH 44145.

 

The undersigned and Transferor understand that this certificate may be disclosed to the Internal Revenue Service by Transferee and that any false statement contained herein could be punished by fine, imprisonment, or both.

 

[Remainder of page intentionally left blank; signature page follows.]

 

 

Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further declare that I have the authority to sign this document on behalf of Transferor.

 

	TravelCenters of America LLC
	By:
		Name:
		Title:
Date: [ · ]

 

Exhibit 10.2

 

SIXTH AMENDMENT TO
AMENDED AND RESTATED LEASE AGREEMENT NO. 2

 

THIS SIXTH AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT NO. 2 (this “ Amendment ”) is made and entered into as of September 30, 2016, by and between HPT TA PROPERTIES TRUST , a Maryland real estate investment trust, and HPT TA PROPERTIES LLC , a Maryland limited liability company, as landlord (collectively, “ Landlord ”), and TA OPERATING LLC , a Delaware limited liability company, as tenant (“ Tenant ”).

 

W   I   T   N   E   S   S   E   T   H :

 

WHEREAS , Landlord and Tenant are parties to that certain Amended and Restated Lease Agreement No. 2, dated as of June 9, 2015, as amended by that certain First Amendment to Amended and Restated Lease Agreement No. 2, dated as of June 16, 2015, that certain Second Amendment to Amended and Restated Lease Agreement No. 2, dated as of June 23, 2015, that certain Third Amendment to Amended and Restated Lease No. 2, dated as of September 23, 2015, that certain Fourth Amendment to Amended and Restated Lease No. 2, dated as of June 22, 2016, and that certain Fifth Amendment to Amended and Restated Lease No. 2, dated as of June 30, 2016 (as so amended, the “ Lease ”);

 

WHEREAS , simultaneously herewith, HPT TA Properties Trust has acquired from Tenant certain land and improvements comprising a travel center having an address at 289 Howard Baker Highway, Pioneer, Tennessee, as further described on Exhibit A-40 attached to this Amendment (collectively, the “ Pioneer Property ”);

 

WHEREAS, Landlord and Tenant desire to amend the Lease to include the Pioneer Property as a Property (this and other capitalized terms used and not otherwise defined in this Amendment shall have the meanings given such terms in the Lease); and

 

WHEREAS, Guarantor is executing this Amendment to confirm the continuation of the Guaranty;

 

NOW, THEREFORE , in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree, as of the date of this Amendment, as follows:

 

1.                                       Base Year .  The defined term “Base Year” set forth in Section 1.10 of the Lease shall mean, with respect to the Pioneer Property, the 2019 calendar year.

 

2.                                       Commencement Date .  The defined term “Commencement Date” set forth in Section 1.18 of the Lease shall mean, with respect to the Pioneer Property, the date of this Amendment.

 

3.                                       Minimum Rent .  The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is hereby deleted in its entirety and replaced with the following:

 

 

1.66                         “ Minimum Rent ” shall mean Fifty-One Million Two Hundred Twenty-Four Thousand Two Hundred Ninety-Three and 19/100ths Dollars ($51,224,293.19), as adjusted from time to time pursuant to Section 3.1.1(b) .

 

4.                                       Leased Property .  Section 2.1(a) of the Lease is hereby amended by deleting the reference to “Exhibits A-1 through A-39” in the second line thereof and replacing it with a reference to “Exhibits A-1 through A-40.”

 

5.                                       Exhibit A .  Exhibit A to the Lease is hereby amended by (a) deleting the initial page entitled “EXHIBITS A-1 through A-39” therefrom in its entirety and replacing it with the page entitled “EXHIBITS A-1 through A-40” attached hereto and (b) adding Exhibit A-40 attached to this Amendment immediately following Exhibit A-39 to the Lease.

 

6.                                       Ratification .  As amended hereby, the Lease is hereby ratified and confirmed and all other terms remain in full force and effect.

 

7.                                       Counterparts .  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

2

 

IN WITNESS WHEREOF , Landlord and Tenant have caused this Amendment to be duly executed, as a sealed instrument, as of the date first above written.

 

	LANDLORD:
	HPT TA PROPERTIES TRUST
	By:	/s/ John G. Murray
		John G. Murray
		President
	HPT TA PROPERTIES LLC
	By:	/s/ John G. Murray
		John G. Murray
		President
	TENANT:
	TA OPERATING LLC
	By:	/s/ Mark R. Young
		Mark R. Young
		Executive Vice President

 

[Signature Page to Sixth Amendment to Amended and Restated Lease Agreement No. 2]

 

 

Reference is made to that certain Guaranty Agreement, dated as of June 9, 2015, given by TRAVELCENTERS OF AMERICA LLC and TRAVELCENTERS OF AMERICA HOLDING COMPANY LLC, each a Delaware limited liability company (collectively, “ Guarantors ”), to Landlord with respect to Tenant’s obligations under the Lease (the “ Guaranty ”).  Guarantors hereby confirm that all references in such Guaranty to the word “Lease” shall mean the Lease, as defined therein, as amended by this Amendment (and any prior amendments referenced in this Amendment), and said Guarantors hereby reaffirm the Guaranty.

 

 

	TRAVELCENTERS OF AMERICA LLC
	By:	/s/ Mark R. Young
		Mark R. Young
		Executive Vice President
	TRAVELCENTERS OF AMERICA HOLDING COMPANY LLC
	By:	/s/ Mark R. Young
		Mark R. Young
		Executive Vice President

 

 

EXHIBITS A-1 through A-40

 

Land

 

Exhibit		TA Site No.		Property Address
A-1		54		9201 Grand Bay Wilmer Rd, Grand Bay (Mobile), AL 36541.
A-2		7		2949 S. Toltec Road, Eloy, AZ 85213.
A-3		94		946 West Beale Street, Kingman, AZ, 86401.
A-4		33		408 Highway 149 North, Earle (West Memphis), AR 72331.
A-5		227		2930 Lenwood Rd., Barstow, CA 92311.
A-6		57		19483 Knighton Rd., Redding, CA 96002.
A-7		248		1650 C.R. 210 West, Jacksonville (Jacksonville South), FL 32259.
A-8		158		11706 Tamp Gateway Blvd., Seffner (Tampa), FL 33584.
A-9		156		30732 Highway 441 South, Commerce, GA 30529.
A-10		249		6901 Bellville Road, Lake Park, GA 31636.
A-11		167		4115 Broadway, Boise, ID 83705.
A-12		30		16650 Russell Rd., Russell (Chicago North), IL 60075.
A-13		199		819 Edwardsville Road, Troy, IL 62294.
A-14		65		2636 E. Tipton Street, Seymour, IN 47274.
A-15		66		3210 South 7th Street, Council Bluffs, IA 51501.
A-16		237		8560 Greenwood Rd., Greenwood, LA 71033.
A-17		69		1255 N. Dixie Hwy, Monroe, MI 48162.
A-18		190		13400 Rogers Drive, Rogers, MN 55374.
A-19		52		100 North Broadway, Oak Grove, MO 64075.
A-20		90		103 Prospectors Drive, Ogallala, NE 69153.
A-21		108		8050 Dean Martin Drive, Las Vegas, NV 89139.
A-22		48		975 St. Rt. 173, Bloomsbury, NJ 08804.
A-23		23		HC 69 - Box 120, Santa Rosa, NM 88435.
A-24		209		40 Riverside Drive, Fultonville, NY 12072.
A-25		2		1101 NC Highway 61, Whitsett (Greensboro), NC 27377.
A-26		39		10679 Lancaster Rd., Hebron, OH 43025.
A-27		29		5551 St. Rt. 193, Kingsville, OH 44048.
A-28		59		501 South Morgan Road, Oklahoma City (West), OK 73128.
A-29		56		21856 Bents Road, NE, Aurora (Portland), OR 97002.
A-30		215		4050 Depot Road, Erie (Harborcreek), PA 16510.
A-31		12		7848 Linglestown Road, Harrisburg, PA 17112.
A-32		13		608 Lovell Road, Knoxville, TN 37932.
A-33		17		6800 Thompson Road, Baytown, TX 77522.
A-34		230		704 West Interstate 20, Big Spring, TX 79720.
A-35		147		6170 I-10 East, San Antonio, TX 78219.
A-36		1		100 N. Carter Road, Ashland (Richmond), VA 23005.
A-37		170		435 Winton Parkway, Livingston, CA 95334.
A-38		369		3001 Grant Street, Gary, IN 46408.
A-39		402		24225 and 24263 West Lorenzo Road, Wilmington, IL 60481
A-40		255		289 Howard Baker Highway, Pioneer, TN 37847

 

[See attached copies.]

 

 

EXHIBIT A-40

 

289 Howard Banker Highway
Pioneer, TN 37847

 

All of that certain land as shown on Plat Cabinet B, Page 568 in the Register’s Office for Campbell County, Tennessee.

 

Together with the non-exclusive right to use two (2) rights of way easement for ingress and egress purposes, including the right to construct and maintain roadways for such purposes, described in Book W480, Page 790, as follows:

 

Easement No. 1:

 

Beginning at an iron pin at the right of way of State Highway 63, near its intersection with Interstate 75, at a corner common with Myers; thence with said Highway S 88 deg. 13’ E 52.5 feet to an iron pin; thence leaving said Highway S 12 deg. 32’ 50” E 309.30 feet to an iron pin; thence N 72 deg. 55’08” W 52.5 feet to an iron pin; thence N 13 deg. 33’39” W 296.36 feet to the point of beginning.

 

Easement No. 2:

 

Beginning at an iron pin at the right of way of State Highway 63, near its intersection with Interstate 75, at a corner common to the Exxon property; thence N 56 deg. 26’ E 56.0 feet to a highway monument at the right of way of Interstate 75; thence with said right of way S 60 deg. 02’ E 681.06 feet to an iron pin; thence S 29 deg. 44’36” 104.13 feet to an iron pin; thence N 44 deg. 05’ W 15 feet to an iron pin; thence N 60 deg. 02’ W 398.41 feet to an iron pin; thence N 67 deg. 34’ E 62.95 feet to an iron pin; thence N 60 deg. 02’ W 269.00 feet to an iron pin at the right of way of State Highway 63, the point of beginning.

 

Being the same property conveyed to TA Operating LLC, a Delaware limited liability company from Nellie Myers by deed of record in Book W480, page 790, in the Register’s Office for Campbell County, Tennessee.

 

For reference only:

 

Tax ID# Map 91, Parcels 004.00, 005.00, 006.00, 007.01, & 007.02

 

Together with a 50’ Access Easement recorded at Book W480, Page 796.