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HomeMy WebLinkAboutAdden 02 Now 'v0 LAG 006-84 ADDENDUM #2-86 LEASE AGREEMENT (City of Renton to PLANE SPACE INVESTMENTS, INC THIS INDENTURE OF LEASE executed in triplicate and effective as hereinbelow specified by and between the CITY OF RENTON, a municipal corporation, and hereafter referred to as "LESSOR", and PLANE SPACE INVESTMENTS, INC., a Washington corporation, hereinafter referred to as "LESSEE". WITNESSETH: WHEREAS the above parties have heretofore entered into and executed a certain lease agreement, effective as of September I , 1984, namely LAG 006-84, further reference being had thereto, and WHEREAS it is necessary and desirable to amend this lease by adjusting lease boundary lines to improve taxiing and tie-down clearances, thereby adding certain property as hereinbelow described to said Prime Lease to be used by Lessee for aircraft tie-down space, and WHEREAS the Lessor has established a revised Rate Term End-Date for ground leases, and 1 . In consideration of the covenants and agreements of the Lessee hereinafter set forth, the Lessor does hereby lease and demise unto Lessee the following described unimproved parcel of real estate, accepted by the Lessee in its "as is" condition, Renton Municipal Airport, Renton, King County, Washington, to-wit: See Exhibit "A" Legal Description and Exhibit "B" Lease Map attached hereto and made a part hereof as if fully set forth herein: Total Added area = 2,157.81 sq. ft. Revised Total Area = 86,681 .45 sq. ft. SUBJECT to restrictions and reservations of record and as further set forth herein; Together with the privilege of Lessee to use the public portion of the Airport, including runway and other public facilities provided thereon, on a non-exclusive basis, and subject to such rules land regulations as now exist or may hereafter be promulgated by the Lessor from time to time, and further subject to all such nondiscriminatory charges and fees for such use as may be established from time to time by Lessor.; on the terms and conditions hereinafter set forth for the period of the Prime Lease, terminating on the 31st day of August 2006, subject to the conditions, however, specified in paragraph 17 of the prime lease. -1- Noe , LAG 006-84 ADDENDUM 12-86 2. RENTAL PAYMENTS: As rental for the above-described added premises during said initial lease term, Lessee shall and will pay unto Lessor monthly rental of $25. 17 computed at the annual rate of $0.14 per square foot, plus Leasehold Tax; payable promptly in advance on the first day of each and every month, and as further set forth in paragraph 17 of the prime lease. All such payments shall be made to the Director of Finance, Municipal Building, Renton, Washington, 98055: From September I . 1986 through May 31, 1990 the adjusted payment will be: 81 ,681 .45 sq. ft. @ $.14 per sq. ft. _ $ 952.95 per month Plus Leasehold Tax. 3. The above described premises and the structures located thereon are leased to the Lessee for the purpose of aircraft tie-down. Lessee covenants that the premises shall be continuously used for those purposes during the term of the lease, shall not be allowed to stand vacant or idle, and shall not be used for any other purpose without Lessor's writtten consent first having been obtained. Consent of Lessor to other types of activities will not be unreasonably withheld. No advertising matter or signs shall be at any time displayed on the leased premises or the structures thereat without the approval of the Lessor in writing. 4. It is hereby further agreed that the effective date of this addendum is September I , 1986. 5. Paragraph 18 of Lease Agreement LAG 006-84 shall be revised to read as follow Said rental payments as specified in Paragraph 2 of this Addendum #2-86 shall continue until the last day of May 1990. Effective as of said date, and every consecutive three (3) years thereafter, said rental rate as hereinabove specified shall be readjusted by and between the parties to be effective for each ensuing three (3) years thereafter. Minimum base rental for any extended period, that is after May 31 , 1990 shall not be less than the originally specified rental plus the additional rental shown in Addendum #1-85 and Addendum #2-86 to Lease Agreement LAG 006-84, i .e. $952.95 per month plus Leasehold Tax. The balance of Paragraph 18 shall remain the same as in the afore- mentioned lease. -2- Nose *lupe LAG 006-84 ADDENDUM 12-86 6. All other terms, conditions and provisions of Lease Agreement LAG 006-84, dated September I , 1984, unless specifically modified and amended by this agreement and upon it becoming effective, shall remain in full force and effect. PLANE SPACE INVES DENTS, INC. CITY OF RENTON, A Municipal Washington . �Q�: in Corporation TTI , President .9 C� / _�Mayor (.2Z-LA4422) LESSEE /o -ad1.-r_ City Clerk AP OVED AS TO L FORM: ovtows,444,4, ‘A--7-147-7,-- City Attorney -3- • STATE OF WASHINGTON) )ss COUNTY OF KING ) THIS is to certify that on this 8th day of October, 1986 before me, the undersigned Notary Public, personally appeared Thomas R. Bailey, President , and to me known to be the President and he acknowledged to me that he executed the foregoing instrument for said Plane Space Investm ents,ltaS its free and voluntary act and deed, for uses and purposes therein stated, and upon oath stated that such execution of said instrument by him _is duly and regularly authorized. GIVEN under my hand an official seal the date last above stated. (Le Notary Public in and for the State of Washington, residing Seattle . STATE OF WASHINGTON ) ) ss COUNTY OF KING ) This is to certify that on this ?..1" day of DC. o,,j_^ , jqe( before/� me, the funders igned Notary Public, personally AO-for Barlckrck 7 .Sv\i h6oc-k. and Ki 1�1e_ E. AO for to me known to be the duly qualified and acting Mayor and City Clerk respectively, of the City of Renton, Washington, and acknowledged that they executed the above and foregoing instrument for the City of Renton as the free and voluntary act and deed of said City for the uses and purposes therein set forth, and upon oath stated that such execution of said instrument by them is duly and regularly authorized and that the seal attached thereto is the corporate seal of the City of Renton.'' __ Given under my hand and official seal thisv2�h dCJC oay of bE,ir' 19 —01 Notary Pu•Lic in and for the State of Washi • •n, residing at Renton New '`r`' LAG#006-84 Addendum #2-86 EXHIBIT "A" LAG#006-84 Plane Space Investment Inc. Beginning at the intersection of the centerline of Shattuck Avenue North with the centerline of Airport Way, said point of intersection lying North 87'30'17" West, a distance of 862.23 feet, from the centerline inter- section of Logan Avenue North and Airport Way; Thence North 02'29'43" East along the northerly extension of the centerline of Shattuck Avenue North a distance of 275.00 feet; Thence North 87'30' 17" West a distance of 61.45 feet; Thence North 02'29'43" East a distance of 25.17 feet to the True Point of Beginning; Thence North 43'48'05" West a distance of 84.35 feet to the P.C. of a tangent curve to the right; Thence northeasterly along a tangent curve to the right, having a radius of 55.00 feet an arc distance of 76.12 feet through a central angle of 79'18' 03" to a point of tangency; Thence North 35'29'58" East a distance of 83.99 feet; Thence North 04'49' 43" West a distance of 28.00 feet; Thence North 85'12' 15" East a distance of 19.00 feet; Thence South 04'49'43" East a distance of 22.95 feet; Thence South 87'05'36" East a distance of 37.68 feet; Thence Niri•,ri P7'1 2. l5" East a distance of 72.92 feet; Thence South 04'41' 30" East a distance of 79.71 feet; Thence North 85'18'30" East a distance of 32.47 feet; Thence North 83'03' 24" East a distance of 29.16 feet; Thence South 02'29'43" West a distance of 144.59 feet; Thence North 87'30' 17" West a distance of 175.81 feet to the True Point of Beginning. Containing an area of 42,936 square feet. Together with: Beginning at the intersection of the centerline of Shattuck Avenue North with the centerline of Airport Way, said point of intersection lying Page 1 of 3 *me 'lame LAG#006-84 Addendum #2-86 North 87'30 '17" West a distance of 862.23 feet from the centerline intersection of Logan Avenue North and Airport Way; Thence North 02'29'43" East along the northerly extension of the center- line of Shattuck Avenue North a distance of 195.00 feet; Thence North 87'30'17" West a distance of 30.00 feet; Thence North 02'29'43" East a distance of 19.00 feet to the True Point .of Beginning Thence continuing North 02'29'43" East a distance of 32.00 feet; Thence South 87'30 '17" East a distance of 118.67 feet; Thence South 42'11'53" East a distance of 195.23 feet; Thence South 02'29'43" West a distance of 32.23 feet; Thence North 87'30'17" West a distance of 39.89 feet; Thence North 02'29'43" East a distance of 0.59 feet; Thence North 87'30 '17" West a distance of 10.00 feet; Thence North 34'47'58" West a distance of 139.01 feet; Thence North 56'54'50" West a distance of 54.71 feet; Thence North 87'30' 17" West a distance of 74.74 feet to the True Point of Beginning. Containing an area of 13,248.81 square feet. Together with Parking Area "A" containing an area of 10,429 square feet. (Area to be verified by survey) . Together with Parking Area "B". That portion of the Northeast Quarter of Section 18, Township 23 North, Range 5 East, W.M. ; and that portion of Henry Tobin Donation Land Claim No. 37 in said Section 18, described as follows: Beginning at the intersection of the centerline of Logan Avenue North with the centerline of Airport Way North said point of intersection lying North 87'30'17" West a distance of 1318.04 feet to a point located on the centerline of Airport Way North; Thence North 4'49'43" West along the runway centerline a distance of 277.26 feet; Thence South 87'30 ' 17" East a distance of 250.17 feet to the point of beginning; Thence North 4'49'43" a distance of 63.55 feet; Page 2 of 3 LAG#006-84 Addendum #2-86 Thence North 55'06'52" East a distance of 55.74 feet; Thence South 45'57'14" East a distance of 37.52' to the point of beginning of a curve to the right having radius of 93.80 feet; Thence southeasterly along said curve through a central angle of 56'06'54" an arc length of 91.87 feet; Thence South 10'09'40" West a distance of 39.63 feet to the point of beginning of a curve to the right having a radius of 41.25 feet; Thence southwesterly along said curve through a central angle of 48'51'27" an arc length of 35.17 feet; Thence South 59'01 '07" West a distance of 67.90 feet; Thence North 4'49'34" West a distance of 117.31 feet. Containing an area of 15,067.64 square feet. TOTAL LEASED AREA: 81,681.45 square feet. Page 3 of 3 / /re 4-49'43')Y- - .� S'G zrR _ 277.28° w N 4.49 43 W 63 55� S 117 3l° 7 10 L� 'p 39.63' ��8 z to � N..!0°0940°E T \a cn(CL rn ©W m Z �r -i f T.^• 00.. 1 Z--I W�? Nb Cj('b�C� 4y O1n q W 'l7 N(Q G POCLC ou =` lad f ra� o�a m 4 w o— rn SHATTUCK AVE. N. z E n'm w z I`C" 43°E-2750U �'` °-7 co�' .. --- — .. 195.00° 5K m N o A co m m i9N UL m ,.: n - 413 'E � z S4, ti cc- r OD z £ z `. o p=J 4 S2°2943°W 144.59' m wr z� w� (A 0— Q a 4 bp W 13810 co m z N 2°29 43"E � w A 0 fv co c)r-o m M wW M,lik 4 °0 m—rn a c» b�� r:j;u m m D .m 0 > }� m w *C1 m Go b "'�.. G) n ' fl !� a u A 0