HomeMy WebLinkAboutAdden 2 LAG-13-005, Adden #2-15
AMENDMENT TO BUILDING LEASE AGREEMENT
City of Renton to Landing Gear Works, LLC
THIS AMENDMENT No. 2 to Lease Agreement LAG 13-005 is entered into as of
October 1, 2015 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 5,380 square feet in the building located at 295
East Perimeter Road, under Lease LAG 13-005; and
WHEREAS, that 5,380 square feet in the building located at 295 East Perimeter
Road is composed of 4,102 square feet of office space and 1,278 square feet of storage
space; and
WHEREAS, Tenant desires to retain the area leased for office space and increase
the leased area in the building for storage space by adding 1,330 square feet of storage
space, as shown in the amended Exhibit A (Lease Map); and
WHEREAS, Landlord desires to permit the increase in the leased area for storage
space; and
WHEREAS, the standard storage lease rate is $0.42406 per square foot per year
for the 2,608 (1,278 + 1,330 = 2,608) square feet of storage space; and
WHEREAS, the Tenant desires to extend the term of the lease for an additional
twelve (12) month period to expire on August 31, 2017.
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:
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WITNESSETH: ',�ver.r .
1. The Landlord and Tenant do hereby agree to amend section 1.b !• lg D:::.� :• 'on
and Reservation of Easement to read as follows: Landlord here, -.r.es to Tena •t,2015
Lease Agreement LAG 13-005ORIGINAL
1
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 02-15
and Tenant leases from Landlord for the term described in Section 3 below, the
portion of the building located at 295 East Perimeter Road as shown in Exhibit A
attached hereto and incorporated herein by reference (hereinafter, "Premises").
which includes 4,102 square feet of office space, and 2,608 square feet of storage
space
2. The Landlord and Tenant do hereby agree to amend Section 3.b. Additional Term: to
be re-titled and to read as follows: Extended Term: The extended term of this Lease
(herein referred to as "Extended Term") as to the entire Premises shall terminate on
August 31, 2017 (hereinafter "Expiration Date").
3. The Landlord and Tenant do herby agree to add a new Section 3.c. Additional Term:
to read as follows: After the Extended Term, continued tenancy by Landing Gear
Works, LLC., will be on a month-to-month basis.
4. The Landlord and Tenant do hereby agree to amend Section 4.a. Minimum Monthly
Rent to read as follows: Tenant shall pay to the Landlord a Minimum Monthly Rent
in the sum of Sixteen Hundred Thirty and 41/100 Dollars ($1,630.41), PLUS
Leasehold Excise Tax as described in Section 5, below, without deduction, offset,
prior notice or demand, payable promptly in advance on the first day of each and
every month. All such payments shall be made to the City of Renton 616 West
Perimeter Road, Unit A, Renton, Washington 98057. The Minimum Monthly Rent is
computed as follows:
(4,102 sq. ft.)($4.50 per sq. ft. per year) = $18,459.00
(2,608 sq. ft.)($0.42406 per sq. ft. per year) = $1,105.95
$18,459.00+ $1,105.95 = $19,564.95 / 12 months = $1,630.41 PLUS leasehold
excise tax
5. 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.
Lease Agreement LAG 13-005 2
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 02-15
Landing Gear Works LLC CITY OF RENTON
a Washington Limed Liability Company a Municipal Corporation
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ICe/a4 fkA
/ / 1)/)//4`- k A r i4 (,f(.(rj Denis Law
Mayor
Title Jason •-th, City Clerk
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+���p.ENT0/11 ,,� Date
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�� - Appro as to legal for
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City Attorney
Lease Agreement LAG 13-005 3
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 02-15
AMENDED EXHIBIT A
See attached.
Lease Agreement LAG 13-005 4
City of Renton to Landing Gear Works LLC
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Original Lease LAG 13-005 (existing)
- —
IF 3,502 square feet of Office space
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'� it ,1 —� ,� Amendment 01-14 (existing)
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��il Uo ' I _ _ 600 square feet of Office space
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I ;I , �j — 1,278 square feet of Storage space
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� I ' Amendment 02-15 (new)
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�, -; — -- 1,330 square feet of Storage space
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— 4,102 square feet of Office space
I AREA OF ; •
` _ 2,608 square feet of Storage space
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FLOOR PLAN _—
SCALE 1/8"=1'-0"
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-- 295 BUILDING -" EXHIBIT A
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– � I _ � R:NTCNi°"""' 08-002-10
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