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LEASE AGREEMENT
City of Renton to Rainier Flight Service, LLC (Parcel 800)
THIS LEASE {hereinafter "Lease") is made and entered into this_ day of __ � 2024,
by and between THE CITY OF RENTON, a Washington municipal corporation {hereinafter
"Landlord" or the "City"), and RAINIER FLIGHT SERVICES, LLC, a Washington limited liability
corporation {hereinafter "Tenant").
WHEREAS, Tenant is currently leasing from the City the two parcels identified as 800 and
820 West Perimeter Road (the "800 Parcel" and the "820 Parcel," respectively) at the Renton
Municipal Airport {the "Airport") pursuant to that certain ground lease known as LAG-19-001;
and
WHEREAS, Appendix 1 to LAG-19-001 requires Tenant to construct improvements on the
800 and 820 Parcels, in accordance with progressive milestones established by the Landlord and
Tenant when the lease was executed in 2019; and
WHEREAS, the Parties amended LAG-19-001 with its Amendment 1-21 in 2021 to allow
Tenant additional time to conduct its development plans, and account for the changing economic
conditions brought about by the COVID-19 pandemic; and
WHEREAS, despite the execution of that Amendment 1-21, Tenant remains required to
satisfy each and every milestone to fulfill its obligations pursuant to LAG-19-001, Appendix 1, and
Amendment 1-21; and
WHEREAS, Tenant did satisfy Amendment 1-21's first deadline to submit for complete
permit application for the 820 Parcel Improvements to CED no later than March 1, 2022; and
WHEREAS, Tenant failed to meet Amendment 1-21's next sequential milestone; to wit, to
commence construction pursuant to its permit application no later than December 1, 2022; and
WHEREAS, Tenant subsequently notified Landlord that it would be abandoning the
project altogether, given the increases in construction prices; and
WHEREAS, such failure to achieve any milestone grants Landlord the right to terminate
the lease; and
WHEREAS, on February 29, 2024 Landlord notified Tenant of its intent to terminate the
tenancy on the 820 Parcel, effective March 31, 2024 then extended that date to May 31, 2024;
and
LEASE AGREEMENT
City of Renton to Rainier Flight Services, LLC (Parcel 800)
LAG-24-005
LAG ----
7.a. Acceptance of Premises: By occupying the Premises, Tenant formally accepts the
Premises in "AS IS" condition, and acknowledges that the Landlord has complied with all the
requirements imposed upon it under the terms of this Lease with respect to the condition of the
Premises at the Commencement Date. Tenant hereby accepts the Premises subject to all
applicable zoning, federal, state, county and municipal laws, ordinances and regulations
governing and regulating the use of the Premises, and accepts this Lease subject thereto and to
all matters disclosed thereby and by any exhibits attached hereto. Tenant acknowledges that,
except as otherwise provided in this Lease, neither Landlord nor Landlord's agents have made
any representation or warranty as to the suitability of the Premises for the conduct of Tenant's
business or use. Except as otherwise provided herein, Landlord warrants Tenant's right to
peaceably and quietly enjoy the Premises without any disturbance from Landlord, or others
claiming by or through Landlord.
8.USE OF PREMISES:
8.a.Use of Premises: The Premises are leased to the Tenant for the following described
purposes and uses necessary to said purposes:
8.a.(1). Aircraft Maintenance including inspection, major and minor repair, and major and
minor alteration of airframes, engines, avionics, interiors and aircraft components;
8.a.(2). Storage and tie-down of aircraft, both indoors and outdoors;
8.a.(3). Commercial flight operations including flight training, aircraft rental, sightseeing,
aerial photography and any operations conducted under 14 CFR Part 91 and 14 CFR Part 135;
8.a.(4). Sale of aviation fuels and lubricants;
8.a.(5). Sale of aircraft parts, components and pilot supplies;
8.a.(6). Aircraft servicing with fluids and compressed gases;
8.a.(7). Aircraft grooming; and
8.a.(8). Aircraft sales, leasing, and management.
8.b. Continuous Use: Tenant covenants that the Premises shall be continuously used for
8.a.(1), and some or all of the remaining purposes set forth above=during the Term, shall not be
allowed to stand vacant or idle, subject to reasonable, temporary interruptions for maintenance,
construction, or other purposes, and shall not be used for any other purpose without Landlord's
prior written consent. Consent of Landlord to other types of aviation activities will not be
unreasonably withheld.
7
LEASE AGREEMENT
City of Renton to Rainier Flight Services, LLC (Parcel 800)
9/18/2024
9/18/2024
Approved by Alex Tuttle via memo 7/10/2024
LAG
STATE OF WASHINGTON )
: ss.
COUNTY OF J6_ )
I certify that I know or have satisfactory evidence that 8r41011� T. el s us the person
who appeared before me, and s/he acknowledged that s/he signed this strument, on oath stated that
s/he was authorized execute the instrument and acknowledged it as the j to SL , text fun 'f aA-ill err
of R&t V4 r I { i��'f' , a r1k , to be the free and voluntary act of suc
for therses and purposes mentioned in the instrument.
Dated this gAlay of trtt n t. 2O 4
6,`\``�t111II1//,' 6.
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NOTARY n0= [Print Name of Notary]
al. PUBLIC•.
-;*,4ee7cjtg(L ,`O?: Notary Public in and for the State of
'n,� P�,y >,�GN, Washington, residing at evil' I/O
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,Ilg,I ittt'�� My commission expires: D t .'t.
STATE OF WASHINGTON )
: ss.
COUNTY OF 1(........- )
I certify that I know or have satisfactoryevidence that �-t�rnr �
is the person
who appeared before me, an. ;''- .cknowledged that s/he signed this instrument, on oath stated that
s/he was authorize to execute the instrument andacknowledged it as the O
of'C�- Of.-- -1 � , a Or, to be the free and volu tart' act of such
for the uses and purposes mentioned in t e instrument.
Dated this 1 iay of , 2t„"
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I‘‘MIii, I�/// [Signat e of Notary]
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6'ij d'),�iiIII ?-2310-�� Notary Public in and for a State of ,`
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s....- My commission;''S Washington, sexpires: a3-PV1 .
27
LEASE AGREEMENT
City of Renton to Rainier Flight Services, LLC(Parcel 800)