HomeMy WebLinkAboutAdden 05 Awe LAG 001-87
Addendum#05-01
ADDENDUM TO LEASE AGREEMENT
(City of Renton to Boeing Employee Flying Association)
THIS ADDENDUM to Lease Agreement LAG 001-87 is effective as of the date
of execution by the City of Renton, as indicated on the last page of this addendum.
RECITALS:
WHEREAS, effective July 1, 2000, the land rental rate of$0.28 per square foot per
year was automatically readjusted utilizing the Consumer Price Index-Urban for the
Seattle-Tacoma area for the five year period June 1, 2000 through May 31, 2005, and
WHEREAS, the Lessor notified the Lessee by letter, dated April 27, 2000, that the
adjustment utilizing the Consumer Price Index-Urban for the Seattle-Tacoma area would
result in an increase of the $0.28 land rental rate to $0.3220 per square foot per year, and
WHEREAS, the land rental rate would result in an annual rent increase from
$34,954.60 to$40,197.80.
NOW, THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND
BETWEEN THE CITY OF RENTON AND THE BOEING EMPLOYEE FLYING
ASSOCIATION AS FOLLOWS:
WITNESSETH:
1. The Lessor and Lessee do hereby agree to a land rental rate Thirty Two Point
Two Zero Cents ($0.3220) per square foot per year, effective June 1, 2000.
2. Lessor and Lessee do hereby agree that the annual land rental rate of Thirty
Two Point Two Zero Cents ($0.3220) per square foot shall remain in effect until May 31,
2005.
3. All other terms and conditions of the original Lease Agreement shall remain in
full force and effect.
Nothing Follows
LEASE AGREEMENT 001-87 1
City of Renton to the Boeing Employee Flying Association
'fir►' `ire LAG 001-87
Addendum#05-0 i
Boeing Employee Flying Association CITY OF RENTON
A Washington Corporation a Municipal Corporation
President /
Mayor Jesse Tanner
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City Cle 'l M.iilyn J. Petersen
Approved as to legal form ,...4FRS
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City Attorney Attorney s .�
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LEASE AGREEMENT 001-87 2
City of Renton to the Boeing Employee Flying Association