HomeMy WebLinkAboutAdden 1 LAG 13-005
Amendment 01-14
AMENDMENT TO BUILDING LEASE AGREEMENT
City of Renton to Landing Gear Works, LLC
THIS AMENDMENT No. 1 to Lease Agreement LAG 13-005 is entered into as of
November 1, 2014 by the City of Renton, a Municipal Corporation (Landlord) and
Landing Gear Works, a limited liability company (Tenant) and amends that certain lease
agreement LAG 13-005 dated September 1, 2013.
RECITALS:
WHEREAS, the Tenant is leasing 3,502 square feet in the building located at 295
East Perimeter Road, under Lease LAG 13-005; and
WHEREAS, Tenant desires to increase the leased area in the building by adding
600 square feet of office space and 1,278 square feet of storage space, as shown in the
amended Exhibit A (Lease Map and Legal Description); and
WHEREAS, the standard building lease rate is $4.50 per square foot per year for
the 4,102 (3,502 + 600 = 4,102) square feet of office space; and
WHEREAS, the standard storage lease rate is $0.42406 per square foot per year
for the 1, 278 square feet of storage space; and
WHEREAS, the Tenant desires to extend the term of the lease for an additional
eighteen (18) month period to expire on August 31, 2016.
NOW,THEREFORE, IN CONSIDERATION OF THE TERMS AND CONDITIONS HEREIN
CONTAINED AND FOR OTHER GOOD AND VALUABLE CONSIDERATION,THE RECEIPT
AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, LANDLORD AND TENANT
AGREE TO AMEND THE LEASE AS SET FORTH BELOW:
WITNESSETH:
1. The Landlord and Tenant do hereby agree to amend section 1.b. Legal Description
and Reservation of Easement to increase the square footage of the building leased
area to be 4,102 square feet of office/industrial use and 1,278 square feet of
storage use, as identified in the amended Exhibit A, Lease Map and Legal
Description of Lease LAG 13-005.
ORIGINAL
Lease Agreement LAG 13-005 1
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 01-14
2. The Landlord and Tenant do hereby agree to amend Section 3.a. Initial Term to
increase the initial term of the Lease for an additional eighteen (18) month period
to terminate on August 31, 2016.
3. The Landlord and Tenant do hereby agree to amend Section 4.a. Minimum Monthly
Rent to increase the Minimum Monthly Rent to the sum of$1,583.41, plus
leasehold excise tax. The Minimum Monthly Rent, effective November 1, 2014, is
computed as follows:
(4,102 sq. ft.)($4.50 per sq.ft. per year) =$18,459.00
(1,278 sq. ft.)($0.42406 per sq.ft. per year) =$541.95
$18,459.00+$541.95 =$19,000.95/12 months=$1,583.41 plus leasehold excise tax
4. All other terms and conditions of the original Lease Agreement and Amendments
thereto, insofar as they are not inconsistent herewith, shall remain in full force and
effect.
Landing Gear Works LLC CITY OF RENTON
a Washington ' ited Liabil3y Company a Municipal Corporation
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Lease Agreement LAG 13-005
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 01-14
AMENDED EXHIBIT A
Lease Agreement LAG 13-005 3
City of Renton to Landing Gear Works LLC
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