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Document Title(s):
Assignment of Lease, Sky Harbor Aviation to South Cove Ventures
Reference Number(s)of Documents assigned or released:
[on page of document(s)]
7 Grantor(s) (Last name first,then first name and initials):
1. City of Renton ,
2 l
4,64 24 3. 3
4. 0 Additional names on page of document n
CP) Grantee(s) (Last name first,then first name and initials):
1. Sky Harbor Aviation, L.L.C.
2. South Cove Ventures, L.L.C.
3.
4. 0 Additional names on page of document
Legal Description(abbreviated: i.e. lot,block,plat or section,township, range):
Parcels A, B, C & D: Parcel of land situated in the Northeast Quarter of
Section 18, Township 23 North, Range 5 East, W.M.
in King County, Washington.
❑ Additional legal is on page of document
Assessor's Property Tax Parcel/Account Number:
Qrl2%o1- Rood-ooc
0 Additional legal is on page of document
The Auditor/Recorder will rely on the information provided on the form. The staff will not read the
document to verify the accuracy or completeness of the indexing information provided herein.
00.91 04 600 SQ8003'1 Miffli0 9NDH Wd 00:LPa0 S2E2-81066
•
LAG-84-006, Addn. #9-99
Assignment of Lease
(300 Airport Way, Renton, Washington)
This Assignment of Lease (the"Assignment") is entered into as of nP,eIL 24, l997 ,
1999, by and between Cliff Howard, doing business as Cliff Howard Aviation, and Fred Bahr,
doing business as Bahr Aero, a/k/a Sky Harbor Aviation, L.L.C. (hereinafter referred to
collectively as"Seller"), and South Cove Ventures, L.I.C. or its assignee (hereinafter referred
to as "Buyer'); and the City of Renton, Washington (the "City").
Recitals
A. Seller Is the lessee under a certain Lease Agreement No. LAG 006-84 (the
"Lease")dated as of September 1, 1984,originally between Plane Space Investments, Inc. and
the City, as amended by the Operating Permit and Lease Amendment between the City and
Seller and by Addendums No. 01-97, No. 02-97, No. 03-97, No. 06-97. No. 07-98, and No.
08-99 (copies of the Original Lease,the Operating Permit, and the Addendums are attached
as Exhibit A and hereinafter are collectively referred to as the "Lease"), affecting the real
C`.2 property (the "Leasehold Property") which is subject to the Lease. Seller also owns certain
buildings, fixtures,and Improvements(the"Improvements")located on the Leasehold Property.
B. Pursuant to a separate Purchase and Sale Agreement between Seller and Buyer
(the "Purchase and Sale Agreement"), Seller has agreed to assign to Buyer all of Seller's
q) Interests In the Leasehold Property and the improvements. Buyer has agreed to assume all
of Seller's obligations under the Lease,
C. The City is willing to consent to the assignment of the Lease by Seller to Buyer
as described in this Agreement.
Agreement
1. Assignment of Lease. Seller grants,assigns,and transfers to Buyer, and Buyer
accepts, all of Seller's rights, duties, and liabilities under the Lease and all Seller's Interest in
the Leasehold Property. In order to further effect this assignment, Seller will also execute a
deed conveying to Buyer all of Sellers Interests in the buildings, structures, and improvements
located on the Leasehold Property.
2. Buyer's Assumption of Lease and Other Obligations. Buyer agrees to timely
perform all duties and undertake all liabilities of the lessee under the Lease, including but not
limited to the duty to occupy the Leasehold Property, the duty to pay rent, taxes, and utility
expenses applicable to the Leasehold Property, and the duty to maintain and insure the
Leasehold Property. Buyer shall hold Seller harmless from any damage or expenses incurred
under the Lease hereafter.
1 177r] 14
Nair
3. Consent by the City. By Its execution of this Assignment, the City consents
to and approves the assignment of the Lease to Buyer and Buyer's assumption of ail rights,
duties, obligations, and covenants as lessee under the Lease.
4. Warranty by Seiler. Seller warrants to Buyer that as of the effective date of this
Assignment all payments arising under the Lease shall be current and all amounts owing shall
have been paid.
5. Effective Date and Closing. This Assignment shall be dated as of the date that
it is signed by the City, and it shall be effective and delivered to Buyer only at the time of the
closing of the Purchase and Sale Agreement.
6. Counterparts. This Assignment may be executed In one or more counterparts,
each of which shall be deemed an original.
7. Entire Agreement. This Assignment sets forth the entire agreement of the
parties. It shall not be changed or terminated orally.
IN WITNESS WHEREOF, the parties have signed this Agreement.
I!?
Seller:
Cliff Howard, doing business as
Cliff Howard Aviation
tot
111
P.O. Box 9849
Seattle
gton 9>3�•98, 0490
-r; ! hr, dol ._ •usiness as
:a rAero
P.O. Box 48
Issaquah, Washington 98027
Buyer: South Cove Ventures L.L.C.
By:
opummmnp,,n,� Charles E. Hill, V.P,
`\\
y OF RE�y�o, P.O. Sox 1-607
v� 44
I:% Bellevue, Washington 98009
City of Renton SEAL *
7C � By:
,ti' Printe' `ame: Jesse Tanner
` ��A d• � Its: Mayor
IP*444,RATED SEP 200 ill Avenue So. h 055 S. Grady Way
sB.lfllllllflllll\\\\ Rento Washin.vb.n 980.5
ATTEST:dr
2 Marilyn J. etersen, City Clerk
State of Washington )
) ss.
County of King }
I certify that I know or have satisfactory evidence that Cliff Howard is the individual who
personally appeared before me, and he acknowledged that he signed this instrument as his free and
voluntary act for the uses and purposes mentioned in the instrument.
Dated: , z
to 'rublic in and for theS e of
Washington, residing at: �.z� r�i
My appointment expires: e- !
State of Washington }
} ea.
County of King }
I certifythat I know or have satisfactory evidence that Fred Bahr is the individual who
CI personally appeared before me,and he acknowledged that he signed this instrument as his free and
C4 voluntary act for the uses and purposes mentioned In the instrument,
11)
Dated:
AII
Public In and for the St a of
Washington, residing at:
My appointment expires; - C,;-7
State of Washington )
} as.
County of King }
I certify that I know or have satisfactory evidence that C'4Am/ES E // is the
individual who personally appeared before me, and he acknowledged that he signed this instrument
and was authorized to execute the instrument as the UIe6' Afe-sioe-v7-- of South
Cove Ventures L.L.C. and acknowledged It to be the free and voluntary act of such party for the
uses and purposes mentioned in the instrument.
.;� ', /9517
Ae
�rry ublic In and for the tate of
ashIngton, residing stk.—,
My appointment expires: - -
3
State of Washington }
County of King
}
I certify that I know or have satisfactory evidence that jeWAs Tao r,e r , ,,rtr
nett t l y t^ iqe f'2./V1. ere the Individuals whoersonall appearedbeforee
and
said individuals acknowledged that they signed ,this instrument, n oa a ed thatthey were
authorized to execute the instrument as the fi ;�
D—t �. e,r,, (q t
act of such party for the uses andepurpo eof City ofms mentioned n the instr andtacknowledgemetn° be the free and voluntary
Dated: ° /,-,
^Ona
/.!/1),. k:
Notary Public in end for theta e of
Washington, residing at: L4 C71,
My appointment expires: „1
In
4
Nye
EXHIBIT 'A'
PARCEL A:
A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF
SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. , IN KING
COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS :
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 INTERSECTION 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' 03" WEST A DISTANCE OF 84 . 35 FEET TO THE
(4 POINT OF CONTACT OF A TANGENT CURVE TO THE RIGHT;
THENCE NORTHEASTERLY ALONG A TANGENT CURVE TO THE RIGHT,
T4 HAVING A RADIUS OF 55 . 00 FEET AN ARC DISTANCE OF 76 . 12 FEET
0 THROUGH A CENTRAL ANGLE OF 79°18' 03" TO A POINT OF TANGENCY;
C% THENCE NORTH 35°29' 58" EAST A DISTANCE OF 83 . 99 FEET;
40 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 NORTH 85°12' 15" 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.
PARCEL B:
A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF
SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. , IN KING
COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS :
BEGINNING AT THE INTERSECTION OF CENTERLINES OF AIRPORT WAY
AND LOGAN AVENUE NORTH IN THE CITY OF RENTON;
THENCE NORTH 87°30' 17" WEST ALONG THE CENTERLINE OF SAID
AIRPORT WAY 862 .23 FEET;
Able
THENCE NORTH 02°29' 43 " EAST 218 . 68 FEET;
THENCE NORTH 87°80' 17" WEST 48 .31 FEET TO THE TRUE POINT OF
BEGINNING;
THENCE NORTH 02°27' 27" EAST 26 . 34 FEET;
THENCE SOUTH 87°54' 39" EAST 138 . 06 FEET;
THENCE SOUTH 42°09' 54" EAST 195 .23 FEET;
THENCE SOUTH 02°29' 43" WEST 31 . 09 FEET;
THENCE NORTH 87°48' 01" WEST 27 . 86 FEET;
THENCE NORTH 71°40' 51" WEST 19 . 92 FEET;
THENCE NORTH 44°05' 47" WEST 19 . 31 FEET;
THENCE NORTH 36°08 ' 39" WEST 62 . 93 FEET;
THENCE NORTH 40°34' 29" WEST 70 . 09 FEET;
THENCE NORTH 49°14' 52" WEST 19 . 91 FEET;
THENCE NORTH 69°32 ' 58" WEST 20 . 05 FEET;
0 THENCE NORTH 84°16' 35" WEST 92 .49 FEET TO THE TRUE POINT OF
C,/ BEGINNING.
04 PARCEL C:
on
A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF
SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. , IN KING
COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS :
�► BEGINNING AT THE INTERSECTION OF CENTERLINES OF AIRPORT WAY
AND LOGAN AVENUE NORTH IN THE CITY OF RENTON;
THENCE NORTH 87°30' 17" WEST ALONG THE CENTERLINE OF SAID
AIRPORT WAY 862 .23 FEET;
THENCE NORTH 02°29' 43" EAST 141 . 61 FEET;
THENCE NORTH 87°30' 17" WEST 59 . 33 FEET TO THE TRUE POINT OF
BEGINNING;
THENCE SOUTH 03°34' 41" WEST 35 .78 FEET;
THENCE SOUTH 31°56' 37" WEST 33 . 51 FEET;
THENCE NORTH 89°15' 05" WEST 74 . 76 FEET;
THENCE NORTH 21°31' 07" WEST 24 .20 FEET;
THENCE NORTH 86°47' 13" WEST 64 .48 FEET;
THENCE NORTH 36°26'32" EAST 39 . 28 FEET;
THENCE NORTH 70°26' 51" EAST 31 . 59 FEET;
THENCE SOUTH 87°26'40" EAST 114 . 98 FEET TO THE TRUE POINT OF
BEGINNING.
PARCEL D:
A PARCEL OF LAND SITUATED IN THE NORTHEAST QUARTER OF
SECTION 18, TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M. IN KING
COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS :
*4100
BEGINNING AT THE INTERSECTION OF CENTERLINES OF AIRPORT WAY
AND LOGAN AVENUE NORTH IN THE CITY OF RENTON;
THENCE NORTH 87°30' 17" WEST ALONG THE CENTERLINE OF SAID
AIRPORT WAY 862 .23 FEET;
THENCE NORTH 02°29'43" EAST 151 .41 FEET;
THENCE NORTH 87°30' 17" WEST 224 . 96 FEET TO THE TRUE POINT OF
BEGINNING;
THENCE NORTH 04°49'43" WEST 188 . 11 FEET;
THENCE NORTH 55°06' 52" EAST 55 . 74 FEET;
THENCE SOUTH 45°57' 14" EAST 37 . 52 FEET TO THE POINT OF
CURVATURE OF A CURVE TO THE RIGHT OF RADIUS OF 93 . 80 FEET;
THENCE SOUTHEASTERLY ALONG SAID CURVE 30 .27 FEET TO THE
POINT OF TANGENCY;
THENCE SOUTH 27°27' 55" EAST 90 . 86 FEET;
THENCE SOUTH 50°14' 31" WEST 98 . 83 FEET;
1 THENCE SOUTH 58°14' 57" WEST 47 . 98 FEET TO THE TRUE POINT OF
(413 BEGINNING;
010 ALL SITUATE IN THE COUNTY OF KING, STATE OF WASHINGTON.
TO0
0
0)
err ..+
Exhibit B
Restrictions contained in the Plat of Renton Real Estate Co.'s First
Addition, recorded in Volume 20 of Plats, page 50. records of King
County, Washington, as follows:
Expressly reserving to the dedicator herein all coal, oil, and mineral
products beneath said streets and alleys. hereby dedicated, together with
the right to mine, quarry, and procure the same at any time hereafter
(Affects portions of Parcels A and B lying within streets of said Plat )
2. Easement and conditions in favor of Chicago, Milwaukee and St. Paul
Railway Company for an electrical transmission and distribution line and
appurtenances thereto, contained in easement recorded April 8, 1919,
under King County Recording No. 1296387.
.3 Easement and conditions in favor of Chicago. Milwaukee and St. Paul
ll� Railway Company for an electrical trarsmisslon and distribution line and
O appurtenances thereto, contained in easement recorded July 16. 1919,
under King County Recording No. 1325849.
4 Covenants, conditions, restrictions, reservation, and/or exceptions
contained in instrument from United States of America, recorded on
September 25. 1947, under King County Recording No. 3727523, as
modified by instrument recorded February 13, 1951, under King County
Recording No. 4108337.
S Matters contained in a record of survey recorded on September 17,
1984, under King County Recording No. 8409179009. •