HomeMy WebLinkAboutAddendum - 2ADDENDUM NO. 2-25 TO LAG-21-001 PENNEY LOFTS, LLC
City Center Parking Garage
THIS ADDENDUM No. 2 to Lease Agreement LAG-21-001 is effective February I, 2025 ("Effective
Date") by and between the City of Renton ("City" or "Owner") a Washington municipal corporation, and
Penney Lofts, LLC (PENNEY) a Washington limited liability company, for the purpose of leasing
parking stalls in the City Center Parking Garage to PENNEY as a condition of LUA #19-000109 off
street parking requirements for the development. The City and PENNEY are at times collectively
referred to as "Parties."
WHEREAS, by this Addendum, the Parties mutually agree to amend the original and existing Penney
Lofts, LLC Lease Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants in the Addendum and
other good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, the
Parties agree to the following:
1.SECTION 2.A. Term and Termination of the Agreement is amended to add the following:
Agreed Renewal: This agreement shall be renewed for an additional period of two years from
February I, 2025, to January 31, 2027, unless otherwise terminated pursuant to the termination
section of the Agreement.
l.SECTION 4. A.1 Payment and Consideration of the Agreement is amended to add:
2025-2027 (no increase) $41.07 + LET $5.27 =$46.34 per stall
3.All terms of the Agreement not explicitly modified herein shall remain in full force and effect and
such terms shall apply to this Amendment as if fully set forth herein.
IN WITNESS WHEREOF, the Parties agree that this Amendment shall become binding as of the
effective date noted above.
CITY OF RENTON PENNEY LOFTS, LLC.
Armondo Pavone, Mayor
Date Signed: ___ _
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Title: b.R. er
Date Si�1·z:f:
LAG-21-001 Addendum No 2 Page 1 of 4
LAG-21-001, Adden #2-25
4/17/2025
4/17/2025
Attest:__________________________
Approved by Cheryl Beyer via email 2/18/2025
STATE OF WASHINGTON )
COUNTY OF
)SS
)
On this (t-day of 2CQfore me,the undersigned,a Notaiy Public in and for the State of Washington,
duly commissioned and swo ,personally appeared Armondo Pavone to me known to be the person (s)who signed as THE
MAJOR of CITY OF RENTON,the Washington municipal corporation that executed the within and foregoing instrument,and
acknowledged said instrument to be his free and votuntasy act and deed and the free and voluntary act and deed of said
Washington municipal corporation for the uses and purposes therein mentioned;and on oath stated that he was authorized to
execute the said instrument on behalf of said Washington municipal corporation.
IN WITNESS WHEREOF I have hereunto set my hand and
(Pnn or stamp name of Notary)
STATE OF WASHINGTON
)SS
NOTARY’PU IC n and for the State or Washington,
residing at
My Appointment Expires:
___________
IAG-21-OO1 Addendum No 2 Page 3 of 6