HomeMy WebLinkAboutAdden 08 Nolo LAG 001-87
Addendum#8-10
ADDENDUM TO LEASE AGREEMENT
(City of Renton to Boeing Employee Flying Association)
THIS ADDENDUM to Lease Agreement LAG 001-87 is effective as of July 1, 2010.
RECITALS:
WHEREAS, Boeing Employee Flying Association (hereinafter "BEFA") has a Lease
Agreement with the City of Renton, LAG-001-87, executed on January 1, 1987; and
WHEREAS, the premises leased by BEFA is approximately 119,560 square feet of
land area as shown on Exhibit A; and
WHEREAS, the leased area will decrease from 119,560 square feet to 95,493
square feet as shown in Exhibit B; and
WHEREAS, the effective date of the decrease in leased area is June 1, 2010; and
WHEREAS, also effective June 1, 2010, a driveway access, containing 6,736
square feet, to the adjacent hangar located at 850 West Perimeter Road will be
established to allow for access to that parcel through the BEFA leased area, as shown
on Exhibit B; and
WHEREAS, a qualified appraiser knowledgeable about airport property in the
Puget Sound region has determined that the driveway access, being a joint use area,
should have a fifty percent (50%) reduction in the existing ground rental rate of$0.62
per square foot per year, resulting in a ground rental rate of$0.31 per square foot per
year; and
WHEREAS, the remaining leased area that would be charged the existing ground
rental rate of$0.62 per square foot per year is 88,757 square feet (95,493 total leased
area —6,736 driveway access = 88,757 square feet) of aviation related leased ground.
NOW,THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND BETWEEN THE
CITY OF RENTON AND BOEING EMPLOYEE FLYING ASSOCIATION AS FOLLOWS:
WITNESSETH:
1. The Lessor and Lessee do hereby agree to a decrease in the total leased square
footage from 119,560 square feet to 95,493 square feet, based on the survey lease
maps (Exhibit A and Exhibit B).
2. The Lessor and Lessee do hereby agree to an annual lease payment based on $0.62
per square foot per year for the 88,757 square feet of aviation related leased
Lease Agreement 001-87 1
ORIGINAL
City of Renton to Boeing Employee Flying Association
Iwo
`ire LAG 001-87
Addendum# 8-10
2. The Lessor and Lessee do hereby agree to an annual lease payment based on $0.62
per square foot per year for the 88,757 square feet of aviation related leased
ground not affected by the driveway access, as shown in Exhibit B. That rent is
$55,029.34 (88,757 x $0.62 = $55,029.34).
3. The Lessor and Lessee do hereby agree to an annual land lease payment of$0.31
per square foot per year for the driveway access of 6,736 square foot, as shown in
Exhibit B. That rent is $2,088.16 (6,736 x$0.31 = $2,088.16).
4. The Lessor and Lessee do hereby agree to the total annual lease payment of
$57,117.50 ($55,029.34+$2,088.16) plus leasehold excise tax.
5. All other terms and conditions of the original Lease Agreement and Addenda
thereto, insofar as they are not inconsistent herewith, shall remain in full force and
effect
Boeing Employee Flying Association, CITY OF RENTON,
a Washington Corporati., a Mu icipal CorporatiRn
4licV7fAY
/�6‘4e.., /J f t.2thi G✓ Denis Law
Ma ,•r
-&5 Pr/ Attest: 41hu/
Title Jaso A. Seth, Deputy City Clerk
p6
Date /
Approv s to legal form 74"
City Attorney
Lease Agreement 001-87 2
City of Renton to Boeing Employee Flying Association
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Exhibit A
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BETA LEASE *Koko^ops uz. ` .uu1411Pactfic
RENTON AIRPORT 1`"200' norow ammo
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City of Renton
Renton Airport
Project 036308
April 23,2010
Boeing Employees Flying Association(BEFA)Lease
That portion of the northwest quarter of Section 7,Township 23 North,Range 5 East,W.M.,in the City
of Renton,King County,Washington,described as follows:
COMMENCING at Runway Station 0+00 of the City of Renton Airport,as shown on Sheet 2 of 6 of
that Record of Survey recorded under King County recording no.20000314900001,being marked by a
rebar and cap,thence N04°49'43"W,along the centerline of the existing runway as shown on said survey,
a distance of 4,272.54 feet;
Thence S85°10'17"W a distance of 391.01 feet to the POINT OF BEGINNING;
Thence S84°50'50"W a distance of 357.04 feet;
Thence NO2°05'50"E a distance of 109.27 feet;
Thence N00°10'25"E a distance of 90:06 feet;
Thence N01°31'17"W a distance of 159.48 feet;
Thence N04°53'45"E a distance of 14.99 feet;
Thence N85°10'17"E a distance of 170.10 feet;
Thence SO4°49'43"E a distance of 40.00 feet;
Thence N85°10'17"E a distance of 154.17 feet;
Thence SO4°49'43"E a distance of 330.16 feet to the POINT OF BEGINNING.
Contains 119,560 square feet,more or less(2.74 acres).
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BEGINNING 1 CI .1000' 660938" 44.59'
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LEGAL DESCRIPTION NOTES
THAT PORTION OF THE NORTHWEST QUARTER OF SECTION 7. TOWNSHIP 23 NORTH, BASIS OF BEARINGS IS THE CENTERLINE OF THE RENTON AIRPORT RUNWAY
RANCE 6 EAST, KM.,IN THE CITY OF RENTON, KING cafivrr; WASHINGTON, BEARING BEING NO4'49'43W.
DESCRIBED AS FOLLOWS:
ALL PRIMARY MEASUREMENT EQUIPMENT UTILIZED HAS BEEN COMPARED AND
COMMENCING AT RUNWAY STATION 0+00 OF THE CITY OF RENTON AIRPORT, ADJUSTED 10.4 NATIONAL GEODETIC SURVEY CALIBRA TED BASELINE, W7 THIN 1,3u
,„ AS 5740IAN ON SNEtt 2 Or 6 OF THAT RECORD OF SURVEY RECORDED THE LAST YEAR.
2'.
UNDER KING COUNTY RECORDING NO, 20000314900001, BEING MARKED BY A
REBAR AND CAP. THENCE N04'4943-W, ALONG THE CENTERLINE OF THE
EXISTING RUNWAY AS SHOWN ON SAID SURVEY, A DISTANCE OF 4,272..64
FEE Ti
THENCE 585lo417"W, A DISTANCE OF 391.01 FEET TO THE POINT OF
BEGINNING:
THENCE N04•49'43''W, A DISTANCE OF 278.12 FEET;
THENCE 5851017 K, A DISTANCE OF 331.27 FEET;
THENCE 50.1'3117E, A DISTANCE OF 82.09 FEET;
THENCE so070.25,'W, A DISTANCE OF 90.06 FEET;
THENCE 50217550''W, A DISTANCE OF 10927 FEET
THENCE N84-50.60T, A DISTANCE OF 357.04 FEET TO THE POINT OF
BEGINNING.
CONTAINING 98LEGEND493 SQUARE FEET OR 2.19 ACRES, MORE OR LESS.
— CENTER UNE RUNWAY
—--- SECTION LINE
QUARTER SECTION LINE
LEASE UNE
8100+1111 FOUND QUARTER SECTION CORNER
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+ FOUND SECTION CORNER
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0 CALCULATED POSITION, NOT SET OR FOUND
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CITY OF RENTON
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$0410 marcr No.
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