HomeMy WebLinkAboutAdden 4 LAG 13-005
Amendment 04-17
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AMENDMENT TO BUILDING LEASE AGREEMENT �
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City of Renton to Landing Gear Works, LLC '
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THIS AMENDMENT No. 4 to Lease Agreement LAG 13-005 is entered into as of 5
_�L,-�z��0� ,�. Z.p f� , 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 currently leasing the first floor of the building located at
295 East Perimeter Road (295 building), consisting of 10,204 square feet under Lease
LAG 13-005 and Amendments 1, 2 & 3 thereto (the Lease), which (ease is currently �
scheduled to terminate on August 31, 2017; and �
WHEREAS, the City anticipates that it might be required to demolish or reach an
agreement to have the current or future tenant demolish the 295 building pursuant to
an Airport Master Plan Update; and
WHEREAS, the City is willing to continue leasing the 295 building for a defined
period in advance of any requirement to demolish the 295 building; and
WHEREAS, the Tenant desires to extend the term of the Lease for an additional
twelve (12) month period to expire on August 31, 2018, and the City is willing to agree
to such extension provided that the Lease not continue on a month-to-month basis for
more than four months thereafter;
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, LAG 13-005 AS AMENDED,AS SET FORTH BELOW:
WITNESSETH:
1. The Landlord and Tenant do hereby agree to amend section 3.b. Extended Term
(which section was retitled in Amendment No. 2 to the Lease)to read as follows:
The extended term of this Lease (herein referred to as "Extended Term") as to the
entire Premises shall terminate on August 31, 2018 (hereinafter "Expiration Date").
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Lease Agreement LAG 13-005 1
City of Renton to Landing Gear Works LLC
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LAG 13-005 �
Amendment 04-17 �
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2. The Landlord and Tenant do hereby agree to amend Section 3.c. Additional Term �
(which section was added in Amendment No. 2 to the Lease)to read as follows: �
After the Extended Term, continued tenancy by Landing Gear Works, LLC., will be on �
a month-to-month basis for a period of up to four (4) months. Under no
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circumstances will Tenant be authorized to extend its tenancy beyond December z
31, 2018.
2. 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.
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Landing Gear Works LLC CITY OF RENTON �
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a Washin i ited Liability Company a Municipa) Corporation �
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Denis Law
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Mayor
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Title Ja on Seth, ty Clerk
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Date
Approved as to legal form:
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Shane Moloney,City Attorney
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Lease Agreement LAG 13-005 2 �
City of Renton to Landing Gear Works LLC E
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