Exhibit 10.6
SECOND AMENDMENT TO
REDEVELOMENT AGREEMENT
THIS SECOND AMENDMENT TO
REDEVELOPMENT AGREEMENT (this “ Second Amendment ”)
is made as of March , 2005 to be effective
as of November 26, 2004 (the “ Second Amendment
Effective Date ”) by and between the NEW JERSEY SPORTS
AND EXPOSITION AUTHORITY , a public body corporate and politic
with corporate succession and having an address at Meadowlands
Sports Complex, 50 State Route 120, East Rutherford, New Jersey
07073 (the “ Authority ”), and MEADOWLANDS
MILLS/MACK-CALI LIMITED PARTNERSHIP , a Delaware limited
partnership, having an address at c/o The Mills Corporation, 1300
Wilson Boulevard, Suite 400, Arlington, Virginia 22209, and
its permitted successors and assigns (the “ Developer
”). The Developer and the Authority are referred to
herein individually as a “ Party ” and
collectively as the “ Parties ”.
Background
A.
Pursuant to the terms of that certain Redevelopment Agreement dated
as of December 3, 2003, as amended by that certain First
Amendment to Redevelopment Agreement dated as of October 5,
2004 (as amended, the “ Redevelopment Agreement
”), the Parties agreed to certain terms and conditions for
the redevelopment of a portion of the Meadowlands Sports Complex
with a mixed use entertainment, retail, office and hotel
project. Capitalized terms used but not otherwise defined in
this Second Amendment shall have the meanings given to such terms
in the Redevelopment Agreement.
B.
During the course of obtaining certain Development Approvals, the
Parties participated in the statutory consultation process mandated
by Section 23 and Section 5x of the Enabling
Legislation. This consultation process concluded with the
issuance of that certain report entitled “Hearing
Officers’ Report and Recommendations in the Matter of the
Hearings Held on the Proposed Meadowlands Xanadu Redevelopment
Project (April 26-30, 2004)” by the New Jersey
Department of Environmental Protection and New Jersey Meadowlands
Commission (the “ Hearing Officers’ Report
”). Following the issuance of the Hearing
Officers’ Report, the New Jersey Department of Environmental
Protection issued an Order dated October 1, 2004 amending
certain of the recommendations set forth in the Hearing
Officers’ Report and requiring that the Parties enter into an
amendment to the Redevelopment Agreement not later than sixty (60)
days following the issuance of the Order.
C.
The Parties wish to amend the Redevelopment Agreement to modify
certain terms and conditions thereof in the manner consistent with
the requirements of the Hearing Officers’ Report and
Order.
Agreement
NOW THEREFORE
, in consideration of the promises
and mutual obligations of the Parties hereto and such other good
and valuable consideration, the receipt and sufficiency are hereby
acknowledged, the Parties intending to be legally bound hereby do
hereby covenant and agree with each other as follows: