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Return Address:
City Clerk's Office
City of Renton
1055 S. Grady Way
Renton WA 98055
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Document Title(s): LAG -85-011, Adden. //4-99
Addendum to Lease Agreement Between The City of Renton and Kaynan Corporati
Reference Number(s) of Documents assigned or released:
[on page of document(s)]
Grantor(s) (Last name first, then first name and initials):
1. City of Renton
2.
3.
4. ❑ Additional names on page of document
Grantee(s) (Last name first, then first name and initials):
1. Kaynan Corporation
2.
3.
4. ❑ Additional names on page of document
Legal Description (abbreviated: i.e. lot, block, plat or section, township, range):
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:
❑ 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.
I
In
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LAG 011-85
Addendum #04-99
ADDENDUM TO LEASE AGREEMENT
(City of Renton to Kaynan Corporation)
THIS ADDENDUM to Lease Agreement LAG 011-84 is effective as of the date of
execution by the City of Renton, as indicated on the last page of this addendum.
RECITALS:
WHEREAS, the original term of the lease is for a period of twenty-one years, beginning
July 15, 1985 and terminating on July 14, 2006, and
WHEREAS, the Lessee has the option to renew or extend the lease for a further term of
ten years, from July 15, 2006 through July 14, 2016, by giving notice of the exercise of such
option at least ninety days prior to the expiration of the original term of the lease, and
WHEREAS, the Lessee desires to make improvements to four buildings, located at 350,
400, 450 and 500 Airport Way, and to repair the water system supplying water to two hangar
buildings, located on adjacent and contiguous property also leased by Lessee, and
WHEREAS, the Lessee acknowledges that the Airport Master Plan encourages the
movement of general aviation activities from the southeast corner of the airport after the year
2010, and
WHEREAS, the Lessee has, in keeping with the objectives of the Airport Master Plan,
submitted a written request for an extension of the lease through July 14, 2010, and
WHEREAS, in the event that the City has established a timetable for or implemented the
movement of general aviation activities from the southeast corner of the airport after January 1,
2010, Lessee desires to be able to further extend the lease through the date established by such
timetable for vacation of the Lessee's premises, such date not to exceed July 14, 2016, and
WHEREAS, if, as a result of the Lessor's plan, the Lessee is unable to occupy and utilize
its leased premises in the southeast corner, the Lessee desires to be able to have the right to
lease property on the west side of the airport, if available, for at least the number of years
remaining between the date Lessee must vacate the property and July 14, 2010.
NOW, THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND
BETWEEN THE CITY OF RENTON AND KAYNAN CORPORATION, AS
FOLLOWS:
LEASE AGREEMENT 011-85 r s
City of Renton to Kaynan Corporation6"1„ Y
p� V `
CITY CLERKS OF AG
11.00
19990901001562
PAGE 002 OF 004
09/01/1999 15:11
KING COUNTY, WA
gn
WITNESSETH:
LAG 011-85
Addendum #04-99
1. The Lessor and Lessee do hereby agree that the lease term expiration date of July 14,
2006 is extended until July 14, 2010.
2. Lessor and Lessee do hereby agree that the Lessee has the right and option to extend
the lease to July 14, 2016 or to the date after July 14, 2010 established by the Lessor for the
vacation of the premises by the Lessee, whichever is less. Notice of the exercise of such option
shall be given by Lessee unto Lessor not earlier than January 1, 2010 and at least ninety days
prior to the expiration of the extended lease term, i.e., July 14, 2010.
3. Lessor and Lessee do hereby agree that in the event the Lessee is unable to extend its
lease to July 14, 2016, for the reason cited in the preceding paragraph, then the Lessee shall
have the right and option to apply the remaining years of its optional lease extension, meaning
the number of years between the date after July 14, 2010 to which the Lessee's lease may be
extended and July 14, 2016, to a lease of available property on the west side of the airport, if
any.
4. Lessor and Lessee do hereby agree that adjustments to the land rental rate shall be
based upon the Consumer Price Index - Urban for the Seattle -Tacoma Area for three year
periods, as set forth in Addendum #06-98 to this lease, continuing from the date of the last
rental adjustment made during the initial term of this lease, i.e., prior to June 14, 2006.
5. All other terms and conditions of the original Lease Agreement shall remain in full
force and effect.
Kaynan Corporation
a Washington Corporation
Approved as to legal form:
LEASE AGREEMENT 011-85
City of Renton to Kaynan Corporation
CITY OF RENTON
a Municipal Corporation
yor
City Cle
19990901001562
PACE 09/0100 F
199915011
CITY CLERKS OF AG 11.00 KING COUNTY, WA
In
STATE OF WASHINGTON)
)ss.
COUNTY OF KING )
cm
LAG 011-85
Addendum #04-99
This is to certify that on before me, the undersigned Notary Public,
personally appeared . NoSS0. &v\jM (to me known to be the
of the City of Renton, and who executed the foregoing
lease and acknowledged to e that they signed and sealed the same as their free and voluntary
act and deed, for the uses and purposes therein mentioned.
(Seal or stamp)
Notary Public in and for the State
of Washington, residing at
My commission expires 8-A-1003
STATE OF WASHINGTON)
)ss.
COUNTY OF 1
This is to certify that on 5"1--z s / V ems, before me, the undersigned Notary Public,
personally appeared Maw 1 "i b. , to me known to be the
Se Cr e �a r u /Tr I-ef s- u r e- v and who executed the foregoing lease and
acknowledged to me that they signed and sealed the same as their free and voluntary act and
deed, fo �%4nius�, nd purposes therein mentioned.
��� p B , rAi�ii
(S:p°�` ��M •j4-r'��i
110TAgy
40 p L% Notary Public in and for the StatV
l.g•ti of Washington, residing at k,'h q
My commission expires B
LEASE AGREEMENT 011-85
City of Renton to Kaynan Corporation
CITY CLERKS OF AG 11.00
19990901001562
PAGE 004 OF 004
09/01/1999 15:11
KING COUNTY, WA
En
rn
LAG 011-85
Addendum #04-99
ADDENDUM TO LEASE AGREEMENT
(City of Renton to Kaynan Corporation)
THIS ADDENDUM to Lease Agreement LAG 011-84 is effective as of the date of
execution by the City of Renton, as indicated on the last page of this addendum.
RECITALS:
WHEREAS, the original term of the lease is for a period of twenty-one years, beginning
July 15, 1985 and terminating on July 14, 2006, and
WHEREAS, the Lessee has the option to renew or extend the lease for a further term of
ten years, from July 15, 2006 through July 14, 2016, by giving notice of the exercise of such
option at least ninety days prior to the expiration of the original term of the lease, and
WHEREAS, the Lessee desires to make improvements to four buildings, located at 350,
400, 450 and 500 Airport Way, and to repair the water system supplying water to two hangar
buildings, located on adjacent and contiguous property also leased by Lessee, and
WHEREAS, the Lessee acknowledges that the Airport Master Plan encourages the
movement of general aviation activities from the southeast corner of the airport after the year
2010, and
WHEREAS, the Lessee has, in keeping with the objectives of the Airport Master Plan,
submitted a written request for an extension of the lease through July 14, 2010, and
WHEREAS, in the event that the City has established a timetable for or implemented the
movement of general aviation activities from the southeast corner of the airport after January 1,
2010, Lessee desires to be able to further extend the lease through the date established by such
timetable for vacation of the Lessee's premises, such date not to exceed July 14, 2016, and
WHEREAS, if, as a result of the Lessor's plan, the Lessee is unable to occupy and utilize
its leased premises in the southeast corner, the Lessee desires to be able to have the right to
lease property on the west side of the airport, if available, for at least the number of years
remaining between the date Lessee must vacate the property and July 14, 2010.
NOW, THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND
BETWEEN THE CITY OF RENTON AND KAYNAN CORPORATION, AS
FOLLOWS:
LEASE AGREEMENT 011-85A
City of Renton to Kaynan Corporation YX
M
WITNESSETH:
on
LAG 011-85
Addendum #04-99
1. The Lessor and Lessee do hereby agree that the lease term expiration date of July 14,
2006 is extended until July 14, 2010.
2. Lessor and Lessee do hereby agree that the Lessee has the right and option to extend
the lease to July 14, 2016 or to the date after July 14, 2010 established by the Lessor for the
vacation of the premises by the Lessee, whichever is less. Notice of the exercise of such option
shall be given by Lessee unto Lessor not earlier than January 1, 2010 and at least ninety days
prior to the expiration of the extended lease term, i.e., July 14, 2010.
3. Lessor and Lessee do hereby agree that in the event the Lessee is unable to extend its
lease to July 14, 2016, for the reason cited in the preceding paragraph, then the Lessee shall
have the right and option to apply the remaining years of its optional lease extension, meaning
the number of years between the date after July 14, 2010 to which the Lessee's lease may be
extended and July 14, 2016, to a lease of available property on the west side of the airport, if
any.
4. Lessor and Lessee do hereby agree that adjustments to the land rental rate shall be
based upon the Consumer Price Index - Urban for the Seattle -Tacoma Area for three year
periods, as set forth in Addendum #06-98 to this lease, continuing from the date of the last
rental adjustment made during the initial term of this lease, i.e., prior to June 14, 2006.
5. All other terms and conditions of the original Lease Agreement shall remain in full
force and effect.
Kaynan Corporation
a Washington Corporation
S
Approved as to legal form:
LEASE AGREEMENT 011-85
City of Renton to Kaynan Corporation
CITY OF RENTON
a Municipal Corporation
i
2
En
STATE OF WASHINGTON)
)ss.
COUNTY OF KING )
CM
LAG 011-85
Addendum #04-99
This is to certify that on 'J -'A -W-1 , before me, the undersigned Notary Public,
personally appeared to me known to be the
Cn( of the City of Renton, and who executed the foregoing
lease and acknowledged to me that they signed and sealed the same as their free and voluntary
a;:t and deed, for the uses and purposes therein mentioned.
(Scai or e�tarmp)
Notary Public in and for the State
of Washington, residing at --_
My commission expires 4-0
STATE OF WASHINGTON)
)ss.
COUNTY OF
This is to certify that on j'/Z s ,before me, the undersigned Notary Public,
personally appeared Ma ti'n D . C // i's o M , to me known to be the
SP c r ? t u r u %Tr .,.m �- u r e, y- , and who executed the foregoing lease and
acknowledged to me that they signed and sealed the same as their free and voluntary act and
deed, f%ttjbvM sand purposes therein mentioned.
ANN
S S N E ,+� •T ���.•
v ;'tea
LEASE AGREEMENT 011-85
City of Renton to Kaynan Corporation
Notary Public in and for the StatV
of Washington, residing at k,'W d Ce,
My commission expires B