HomeMy WebLinkAboutL_PARKING_AGREEMENT_20250829_V1.pdfPRELIMINARY PARKING AGREEMENT
This Preliminary Parking Agreement (“Agreement”) is entered into as of August 20, 2025 Saleh
Foundation, a Washington nonprofit corporation, with its principal office located at 4108 Jones
Ave NE, Renton, WA 98056 (“Foundation”), And East Side Renton Storage, with its principal
office located at 4210 Jones Ave NE, Renton, WA 98056 (“Licensee”).
RECITALS
A. Foundation owns or controls the real property located at 4108 Jones Ave NE, Renton, WA
98056 (the “Foundation Property”).
B. Licensee owns the adjacent property located at 4210 Jones Ave NE, Renton, WA 98056,
which contains certain parking spaces described on Exhibit A attached hereto (the “Parking
Area”).
C. Foundation desires to enter into a long-term agreement to use the Parking Area for overflow
parking to accommodate attendees of events and other activities at the Foundation Property,
subject to approval by the City of Renton.
AGREEMENT
1. Purpose.
This Agreement evidences the parties’ good-faith intent to enter into a long-term parking
agreement for the Parking Area, contingent upon City approval. For the avoidance of doubt, no
use of the Parking Area by Foundation is permitted during the Preliminary Term.
2. Preliminary Term.The “Preliminary Term” shall commence on the Effective Date and continue
until the earliest to occur of:
(a) the City of Renton’s written approval of a long-term
parking arrangement;
(b) the City’s written denial of such arrangement;
3. Conversion to Long-Term Agreement.
Within reasonable time after receipt of the City’s written approval, the parties shall negotiate in
good faith and execute a formal parking agreement (the “Long-Term Agreement”) with a term of
ten (10) years and terms substantially similar to those contemplated herein, subject to such
additional provisions as the parties may mutually agree. If the parties are unable to execute a
Long-Term Agreement within such period, this Agreement shall automatically terminate unless
extended in writing.
4. Non-Binding Long-Term Economics.
Except for the mutual expectation of a ten-year term upon City approval, this Agreement is non-
binding with respect to the specific economic or operational terms of the Long- Term
Agreement.
5. Access and Use During Preliminary Term.
Foundation shall have no right to use any portion of the Parking Area, including any parking
stalls, during the Preliminary Term. Any access or use shall only commence pursuant to the
Long-Term Agreement after City approval.
6. Indemnification.
Since no parking use is authorized during the Preliminary Term, the indemnification provisions
shall apply only upon execution of the Long-Term Agreement.
7. Compliance with Laws.
Foundation’s compliance obligations relating to use of the Parking Area shall likewise only take
effect under the Long -Term Agreement.
8. Governing Law.
This Agreement shall be governed by, and construed in accordance with, the laws of the State
of Washington, without regard to conflict-of-laws principles.
9. Miscellaneous.
(a) Entire Agreement. This Agreement constitutes the entire understanding of the parties
with respect to the subject matter hereof and supersedes all prior or contemporaneous
agreements, representations, and understandings.
(b) Amendment.
This Agreement may be amended only by a written instrument executed by both parties.
(c) Notices.
Any notices under this Agreement shall be in writing and delivered personally, by certified mail,
or by recognized overnight courier to the addresses set forth above (or such other address as a
party may designate in writing).
(d) Termination.
Either party may terminate this Agreement during the Preliminary Term.
(e) Counterparts.
This Agreement may be executed in counterparts (including by electronic or PDF signature),
each of which shall be deemed an original, and all of which together shall constitute one
instrument.
(f) No Third-Party Beneficiaries.
Nothing in this Agreement shall confer any rights upon any person or entity other than the
parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Preliminary Parking Agreement
as of the Effective Date.
SALEH FOUNDATION
By: ___________________________
Name:
Title:
EAST SIDE RENTON STORAGE
By: ___________________________
Name:
Title: