HomeMy WebLinkAboutLease ' =- -..i , � i
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LEASE AGREEMENT
1�EST SiDE APRON �B"
City of Renton to THE LANE INVESTMENT C0.
THIS INDENTURE OF LEASE executed in triplicate, effective as of
January I , _ 1986, by and between the CITY OF RENTON, a municipal corporation,
_ hereinafter referred to as Lessor; and JOSEPH C. LANE, JR. , hereinafter
referred to as Lessee: _
WITNESSETH•
� . PREMISES LEASED: In consideration of the covenants and
agreements of the Lessee hereinafter set forth, Lessor does hereby lease and
demise unto Lessee ,the following described untmproved parcels of real estate
accepted by the Lessee fn their "as is" condition, being located withtn the
conftnes of the Renton Airport, Renton, Ktng 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.
SUBJECT to restrictions and reservations of record and as further
set forth here i n;
Together with the privtlege of Lessee to use the public portion of
the airport, including �unway and other public facilities provlded thereon, on
a non-exclusive basis, and subJect to such rules and regulations as now exlst
or may hereafter be promulgated by the Lessor from t(me to time, and further
subJect to all such non-discriminatory charges and fees for such use as may be
established from time to time by Lessor; on the terms and conditions herein-
after set forth for a period of Twenty (20) years commencing on the Ist day of
January I , 1986 and terminating on the 31st day of December, 2005 subject to
the condltions, however, specified tn paragraphs 17 and 18 hereinbelow. �
2. RENTAL PAYMENTS: As rental for the above-described premises
during satd inittal lease term, Lessee shall and will pay unto Lessor a
monthly rental of �571 .64 computed at the annual rate ot 50.14 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 18 hereinbelow. AIl such .
payments shall be made to the Director of Finance, Municipal Building, Renton,
Washington
LATE PAYMENT CHAR(�S Effective as of January I , 1986 it is hereby
further agreed that if such rental is not paid before the IOth of each month
then there would be added a late payment charge of 5� per month #rom the Ist
of the month. It is agreed that thts late payment charge is a reasonable
estimate of the increased cost to the City of the staff effort to monitor and
collect on late payments as Mell as related City expenses due to such late
payment. �
ATTORNEY�S FEES AND COLLECTIONS: Should it be necessary to refer
this lease to any attorney for collection, Ittigation, or other court action
involving breach or lease occupancy after termination, enforcement of any
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_ � other right and duty under this lease then it is agreed that the prevail-
` ing party at Iitigation should be entitled to reasonable attorney�s fees to be
established by the Court. If the matter is not Iitigated or resolved through
a lawsuit, then any attorney�s fees expenses for collection of past due rent
or enforcement of any right or duty hereunder shall entitle the City to
recover, in addition to any late payment charge, any costs of collection or
enforcement including attorney�s fees.
3. PURPOSE OF USE Above-described premises and the structures
located thereon are leased to the Lessee for the purpose of construction and
operation of aircraft storage, maintenance/repalr and sales/service
facilt.ties. 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.
written 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 written approval of Lessor. Hangars to be in operation 60
to 90 days following receipt of Building and Conditional Use Permits.
4. MAINTENANCE OF PREMISES The leased premises and all the
improvements or structures thereon shall be used and maintained by Lessee in a
neat, orderly and sanitary manner; and .shall .be kept well patnted by Lessee tn
such prevailing color scheine as may be from time to time estab-
Iished and required by Lessor for such Airport so that the leased premises
and structures located thereon shall be kept and operated in a reasonable '
harmony with other structures and color schemes on said Airport�. Lessee
further covenants to keep and operate the leased premises and all structures,
improvements, and activities in contormity with all rules, regulations and
laws now or hereafter adopted by Lessor City or the CiVil Aeronautics
Authority or State Aeronautics Commission, or other duly constituted
governmental authority, all at Lessee�s cost and expense.
5. TITLE TO IMPROVEMENTS As further consideration for this Lease,
it is stipulated and agreed that at the .expiration of the renewed term of this
Lease as provided in paragraph 1 herein contained or at any other termination
of this Lease, all structures and any and all (mprove-
ments of any character whatever installed on the leased premises shall be and
become the property of the Lessor City and title thereto shall pass and revert
to Lessor City at such termination, and none of such improvements now or
hereafter placed on the leased premises shall be removed therefrom at any time
without Lessor�s written consent. The Lessor shall have the alternative, at
its option, to require Lessee to remove any and all improvements and
structures from the demised premises and repair any damage caused thereby, at
Lessee�s expense.
6. IMPROVEMENTS Lessor shall not be called upon to make any
improvements. alteration or repair of any kind upon said premises and Lessee
covenants that he will not permit any waste, damage or injury to the premises
or improvements, nor to all-ow the maintenance of any nuisance thereon, nor the
use thereof for any illegal purposes or activities, nor for any purpose or
operation preventing the maintenance of fire insurance on the said
improvements or activities.
7. CHARGES PAID _BY LESSEE Lessee further agrees to .pay, in
addition to the rentals hereinabove specified and other charges
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hereinabove, defined, all fees and charges now in effect or hereafter levied or
established by Lessor City, or its successors, or by any other governmental
agency or authority, being or becoming levied or charged against the premises,
structures, business operations or activities conducted by or use made by
Lessee of, on and from the leased premises which shall Include but not be
Iimited to all charges for light, heat,
gas, power, garbage., water and other utilities or services rendered to said
premises. Lessee hereby agrees and covenants to pay unto Lessor that certain
Leasehold Excise Tax as established by Chapter 61 , Laws of 1765-76, 2nd EX '
Session (�44th Legislative - Session) which said tax shail be in addition to the
stlpulated monthly rental and be paid separately to the Director of Finance,
City. of Renton,. at the same time the monthiy rental is due. In the event that
the State of Washington or any other governmental authority having
Jurisdiction thereover shall hereafter levy or impose any similar tax or
charge on this Lease or the leasehold estate then Lessee agrees and covenants
to . pay said tax or charge, when due. Such tax or charge shall be in addition
to the regular monthly, rentals.
8. HOLD HARMLESS Lessee covenants to indemnify and save hsrmless
Lessor City against any and all claims arising from the conduct and management
of, or from any work or thing whatsoever done in or about, the demised
� premises or the improvements or equipment thereof during said Lease term, or
arising from any act or negligence of the Lessee or any of its agents,
. contractors, patro.ns, customers or employees, or arising from any
accident,inJury or damage whatsoever, however caused, to any person or
persons, or to the property or any person, persons or corporation occurring
during said term on, in or about the leased premises and from and against all
costs, attorney�s fees, expenses and liabilities incurred in or from any such
claims or any action or proceeding be brought agalnst the Lessor City by
reason of any such claim, Lessee, on notice from Lessor, shall resist,. defend
or sett.le such action or proceeding forthwith. �
9. RISK OF DAMAGE OR LOSS It is further agreed that all personal
property in said demised premises shall be at the risk of Lessee only and that
Lessor or Lessor�s agents shall not be liable for any damage either to
personal property, sustained by Lessee or other persons, due to the buildings
or said demised premises or any part or appurtenance thereof becoming out of
repair.
10. LIABILITY INSURANCE Lessee shall keep in full force and
effect at all times during this Lease term adequate public liability and
property damage insurance, written by a company authorized to do business in
the State of Washington, with Iimits of not less than $300,000/3500,000 and
$100,000 respectively, and Lessee shall promptly fur�ish unto Lessor evidence
of such insurance by furnishing unto Lessor a copy of each policy of insurance
or a certificate thereof evidencing such coverage.
' II . ABSIGNMENT This lease or any part hereof shall not be
assigned by Lessee, or by operation of law, or otherwise, nor said premises or
any part thereof sublet without the written consent of Lessor endorsed .
thereon; and in the event such written consent shall be so given, no other
subsequent assignment, assignments or subletting, shall be made by such
assignee or asslgnees, or sublessee, without previous
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consent of Lessor endorsed thereon; and in the event such written consent .
� shall be so given, no other subsequent assignment, ass(gnments or sublet-
ting, shall be made by such assignee or assignees, or sublessee, wtthout
' previous consent of Lessor first had and obtained in writing. It is expressly
agreed that if consent ts once given by the Lessor to the assignment of this
Lease or any interest therein or to the subletting of the whole or any part of
said leased premises, then Lessor shall not be barred from .afterwards refusing
to consent to any further assignment of said Lease or subletting of said
leased premises.
12. CONTINGENCIES It is expressly understood and agreed that
Lessor holds and operates said Airport and the demised premises under and
sub,ject to a grant and conveyance thereof to Lessor Ctty from the United
States of America, acting through its Reconstruction Finance Corporation, and
subject to all the reservations, restrictlons, rights conditions and
exceptions of the United States theretn and thereunder, which grant and
conYeyance has been filed for record in the office of , the County Auditor of
said King County, Washington, and recorded in Volume 2668 of Deeds, Page 386;
` and further that Lessor holds and operates said Alrport and premises under and
subject to the State Aeronautics acts of the State of Washington (Chapter 165,
Laws of 1947.),� and any subsequent amendments thereof or subsequent legislation
of said State and all rules and regulations lawfully promulgated under any act ,
or legislation adopted by �the State of _Washington or by the United States or
the Federal Aviation Administratton. It is expressly stipulated and agreed
that the Lessee also accepts and will hold and use thts Lease and the
respective demised premises subJect thereto and to all contingencies, risks
. and eventuali-
ties of or arising out of the foregoing, and if this Lease or the period
thereof or any terms or provisions thereof be or become in confltct with or
impaired or defeated by any such legislation, rules, regulations,
contingencies or risks, the latter sha�il control and if necessary modify or
supersede any provision of this Lease affected thereby, all without any
liability on the part of or recourse against the Lessor in favor of Lessee.
Nothing in this Lease contained shall operate or be construed to prevent or
hinder the future development, improvements or operation of sa�id Renton
Airport by Lessor, tts agents, successors, or assigns, or any department or
agency of the State of Washington or of the United States, or the consummation
of any loan or grant of Federal or State funds in aid of the development,
= improvement or operation of said Renton Airport.
13. RIC�ITS OF LESSOR ON LESSEE�S DEFAULT (t is expressly
understood and agreed that in case the demised premises shall be deserted or
vacated, or. if default be made in the payment of the rent or any part thereof
as herein specified or if, without consent. of the Lessor, the Lessee shall
sell , assign or mortgage this Lease, or if default be made in the performance
of any of the covenants and agreements in this Lease contained on the part of
. fihe Lessee to be kept and performed, or if Lessee shall fail to compiy with
any of the statutes, ordinances, rules, orders, regulations and requirements
of the Federal , State and City Government, or if Lessee shall file a petition
for bankruptcy or be adJudicated a bankrupt, or make assignment for the
benefit of creditors or take advantage of any insolvency act, the Lessor may,
if it so elects, at any time thereafter terminate this _Lease and the term �
hereof, on giving to. the Lessee ten (10) days notice in writing of the Lessor�s
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intenti"on so to do. Upon the expiration of said ten ( 10) day notice, this
Lease and the term hereof together with any and all other rights and options
ot Lessee' herein specified, shall expire and come to an end.on the day fixed
� in such notice, except that Lessee�s obligation and liability . for any unpaid
rentals o� other charges he�etofore accrued shall remain unabated. Lessor may
thereupon re-enter said premises with or wlthout due process of law, using
such force as may be necessary to remove all persons or chattels therefrom,
and Lessor shail not be Itable for damages by reason of such re-entry or
forfeiture.
, 14. AIl terms, conditions and provtsion of this lease agreement
shall be binding upon Lessee, his successors and assigns, if any.
' 15. CONDEMNATION If the w,hole or any substantial part of the
' premises hereby leased shall be condemned or taken by any County, State or
Federal authority for any purpose, then the term of thls Lease shall cease on
- the . part so taken from the day the possession of that part shall be required
. for any purpose and the rent shall be paid up to that date, and from that day
the Lessee or Lessor shall have, the right to either cancel this Lease and
declare the same nu1.l and void, or to continue i.n the possession of the
remainder of the. same under the terms herein provided, except that the rent
shall be reduced tn proportion to the amount of the premises taken for such
� public purposes. AIl damages awarded for such taking for any public purpose �
shall belong to and be the property of the Lessor, , whether such damage shall
� � be awarded - as compensation for the d.iminution in value to the leasehold or to
the fee of the premises hereln leased:
16. NOTICES Any notice required to be given or served in
� accor-dance with the provlsions of this Lease shall be sufflciently g.iven and
served if delivered 1n writing to a party, or if sent by registered mail ,
postage prepaid, to the other party�s last known mai.ling address.
17. RENTAL RENEGOTIATlON Said rental payments as specified in
, paragraph 2 hereof shall continue unti �l the 1st day of June, 1990. Effective,
as of said date, and every consecuti_ve 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) year period. However, the City
retains the option of renegotiating every five (5) years, at its sole
„ dtscretion. Minimum base rental for any extended period, that is after June
f , 1990, shall not be less than the aforespecified rental of 5571 .64 per
month. if, however, the part.les are unable to ag�ee upon such adjusted rental
. for the ensuing three (3) year period, within thirty (30> days prior to the
commencement of each such consecutive three- (3) year period, then the parties
shall submit the matter of rentals for such ensuing three (3) year period to
arbitration. Lessee shall select one arbitrator and Lessor likewise select
one and the two so chosen, if unable to agree within a period of thirty (30)
days after such appointment, shall select a third one and the declsion of the
majorlty of such arbitrators shall be final and binding upon the parties
hereto.. The arbitrators shall be experlence.d real estate appraisers and be , '
knowledgeabie in the fieid of comparable rentals and use charges in King
County and shall likewise give due conslderation to any change in economic .
conditions from the preceding rental period. Each party shall pay for and be
responsible for the fees and costs .
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charged by the arbitrator selected by hlm and the fee of the third arbitrator,
if any, shall be shared equally between them. Leasehold improvements made by
the Lessee shall not be considered as part of the leased premtses for the
purpose of future adJustments or readJustments of the aforesaid rentai rates.
The arbitrator shall make the decis(on in writing, withln sixty (60) days
after their appointment, unless the time is extended by the agreement of both
parties. The readJusted rental in each case, whether determined by
arbitratfon or by agreement of the parties themselves, shall be effective as
of the c�nmencement of each such three (3) year rental terms.
. 18.. SURRENDER OF PREMISES Lessee shall qutt and surrender the
premises at the end of the term in as good a condition as the reasonable use
thereof would permit and shall not make any ,alterations, additions or
improvements to the premises without the prior written consent of the Lessor;
all alterations, additions or improvements which may be made by either of the
' parties hereto on the premises, except movable office furniture or trade
fixtures, put in at the expense of Lessee, shall be and remain the property of
the Lessor and shall remain on and be surrendered wlth the premises as a part
thereof at the termination of this Lease without hlndrance, molestation or
inJury.
19. FIRE INSURANCE Lessee further agrees in addition to the
insurance �equirements herein set forth, to take out and keep in full force
and effect during the full term of thls Lease, or any extension or renewal
thereof, a policy or policies of fire insurance, together wtth extended
coverage, in standard form, in a company or companies acceptable to and
approved by Lessor and in an amount at least equal to the replacement cost of
such improvements; such policy or policies shall name the Lessor as an �
additional insured as its interest may appear, and true copies of such policy
or policies or a certificate of insurance evidencing such coverage shall be
promptiy furnished unto Lessor at all times. Such polfcy shall not be
canceled or voided unless at least ten ( 10) days� written notice prior thereto
has been furnished unto Lessor.
20. HOLDING OVER If, without execution of any extension or
renewal , Lessee should remain in possession of the premises after expiration
or termination of the terms of this Lease, then Lessee shall be deemed to be
occupying said premises as a tenant from month to month. AIl the conditions,
terms and provisions of thfs Lease, insofar as appiicable to a month-to-month
tenancy, shall Iikewise be applicable during such period.
21 . WAIVER OR BREACH It is further covenanted and agreed between
the parties hereto that no waiver by Lessor of a breach by Lessee of any
covenant, agreement, stipulation or condition of this Lease shall be construed
to be a waiver of any succeeding breach of the same covenant, agreement,
stipulation or condition or a breach of any other covenant, agreement,
stipulation, or condition; also that all covenants, conditions, and agreements
herein contained shall extend to and be binding on the heirs, executors,
administrators, successors and assigns of the partles hereto. The acceptance
by the Lessor of rent after any breach by the Lessee of any covenant or
condition by Lessee to be performed or observed shall be construed to be
payment for the use and occupation of the demised premises and shall not waive
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any such breach or any right of forfeiture arising therefrom. �
22. NOTICES AIl notices under this Lease shall be in writing and
delivered in person or sent by certified or reglstered mail unto Lessor at the
following address, to-wit:
Airport Director
Renton Municipal Building
Renton, Washington 98055
and in case of any notice unto Lessee, then to the premises leased hereunder,
or such address as may hereafter be designated by eifiher party in writing.
23. OPTION TO RENEW In the event that Lessee has fully and
faithfully compiied with all the terms and conditions of this Lease Agreement,
then in such event Lessor grants unto Lessee the right and option to renew or
extend this Lease for a further term of ten ( 10) years. The rental for each
three (3) year period (or partial period) shall be ascertained as set forth in
paragraph 17. Notice of the exercise of such option shall be given by Lessee
unto Lessor at least ninety days prior to the expiratlon of the original term
of this Lease, which notice must be in writing; and it is expressly agreed by
and between the parties hereto that time is of the essence in the giving of
said notice.
24. NON-DISCRIMINATION Lessee covenants and agrees not to
discriminate against any person or class of persons by reason of race, color,
creed, national origin, mental sensory or physical handicap in the use of any
of its facilities provided for the public in the Airport. Lessee further
agrees to furnish services on a fair, equal and not unjustly discriminatory
basis to all users thereof, and to charge fair, reasonable and not unjustly
discriminatory basis for each unit of service, provided that Lessee may make
reasonable and non-discriminatory discounts, rebates or other similar types of
price .reductions to volume purchasers.
CITY OF RENTON, a Municlpal
Corporation
�
JOSEP G� LANE, JR. B`� �� (
�
� Mayor Pro tem
---_—_ _ By i��r!'��s�����
City Clerk ia-3o-�.�
LESSEE LESSOR
Approved as to legai form:
�
Clty Attorney
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EXHIBIT "A°'
i�lest Si de Apron "B"
BE6INNIN6 at a point located on the Renton Airfield runway centerline
referred to as Station 0+00; thence N 4°49'43" W along the runway center-
� line a distance of 1240.13 feet; thence S 85°10'17" W a distance of 375
feet to the true point of beginning; tlience S 85°10'17" W a distance of �
.179.33 feet; thence N 3°18'00" W a distance of 315.17 feet; thence
N 85°10'17" E a distance of 134.76 feet; thence S 4°49'43" E a distance
of 312.00 feet to the true point of beginning.
Area: 48,997.56 sq. ft.
ST�TE OF WASH I NGTOPI)
)ss
C011�1TY OF K I NG ) �
THIS ts to c�rtify that on this lOth d�y o� December �g 85
before me, the undersigned Notary Public, personaliy appeared •
JOSEPH C. LANE, JR. ,
,
and
to rree known to be the individual
and he �cknowledged to me that he �xecuted th� foregoing instrurt�nt for
his
$��� himself as #�##� free and voluntary act and deed, for
uses and purposes therein stated, �nd upon oath sta-ted that such �xecutlon of
� said lnstrument by him is duly and regularly author(zed,
GIVEN under my hand �n official seal th� date last above stated.
�;l,�s r°;;.=`s+'n.«�..,a^
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No�t�y Pub I ic i n and for the S#�tre����^�� �,, �w����'
� ag � � �« m�'w t�
e �
��. � Gm 4Y@floOdm�4;�k,!�'�J�'��,j3
of Washington, .residing Seattle•: �� ��; ���;�����d;'
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� STATE OF WASHINGTON )
) ss
COUVTY OF KING )
This is to certify that on this 30th day of December, 1985
before me, the undersigned Notary Publtc, personally appeared
John W. Reed, Mayor Pro tem and Maxine E. Motor, City Clerk
to me known to be the duly qualtfied 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 this.�day of`7 � �� 19.�
��01��: � R�.�.�Q o, -
Notary Public in and for. the State
. of Washington, residing at Renton
.
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. _ � AG 013. -85 -
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� - ;z, , THE LA E lNVESTMENT CO.
- � , �' RENTON � MUNICIPAL AIRPORT
� APPROVED _ - `' ��"����; ��'- DRAWN BY � J.A. � � DAT : -
E 12- 3_ 8s
AIRPORT, � DIRECTOR C HE C K E D BY � FIELD BOOK
,
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_ ADDENDCIM �01-86 �
. J_EFlSE AGREEMENT
' � (CITY.OF RENTON TO JOSEPH C. LANE, JR.)
' TNIS INDENTURE OF- LEASE executed in triplicate, efifective as of October Ist
1986; by and between the CITY OF RENTON, a municipal corporation, hereinafter
refer.red to as "Lessor", and JOSEPH C. LANE, JR.,, herelnafter. r.eferred to as
"Lessee":
" J�ITNESSETH• ' �
1 . PREMISES LEASED:
WHEREAS THE ABOVE PARTIES have heretofore entered into and executed
a certain lease extension agreement, effective as of January I , 1985, namely
' LAG 01.3-85, further reference being had thereto, and
WHEREAS it is necessary and desirable to amend this lease by adding
'_ a parcel of property at the north end of the leased area, as released by the
Boeing Company, and by deleting a parcel of property which the Lessor wishes
to use as a Sewer Pump_ Station Site, and �
� WHEREAS it ts necessary and advisable to amend and ro�odify the
. aforesa(d Lease Agreement upon the terms and conditions herein set forth, and
, to provide for such addition and adJustment in the monthly rental � '
' necessitated thereby , NOW THEREFORE it is hereby agreed and covenanted
between the. parties as follows: ,
Lessor does hereby revise the total existing ground lease
area related to lease LAG 013-85 by adding the subject `
� transferred unimproved parcel of real estate, being �
located within the confines of the Renton Airport,
Renton, King County, Washington and by deleting a portion
. of the original leased property for Lessor usage: '
See Exhibit "A" Legal Description and Exhibit "B" Lease
- Map attached hereto and made a part hereof as if fully
' set forth herein. '
� Area of added parcel = 8,835.90 sq. ft.
� " Area of deleted parcels = ( 341 .05)� sq. `ft.
, Net added area = � $,494.85 sa�; ft.
' � REVISED TOTAL LEASED AREA = 57,492.41 sq. ft.
. 2. RENTAL PAYMENTS �
The adjusted rental for lease LAG 013-85 during the balance of the
initial lease term is as follows: Lessee shall and will pay unto Lessor a
� • r.ev�ised ground-space rental per the following schedule: �
.
,
'� � LAG 013-85 -
., �
' ADDENDUM #01-86 �
_ ' Rental Rate: 57,492.41 sq. ft. @ $. 14 per sq.ft. per year = '
3670.75 per month plus Leasehold Tax . ,
3. RENTAL RENEGOTIATION �
Paragraph 17 of Lease Agreement LAG 013-85 shall be revised to read
as follows:
Said rental payments as specified in Paragraph 2 hereof
shali 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 shail 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 rental specified in Paragraph 2 of this
� Addendum �01-86 to Lease Agreement LAG 013-85, f .e.
�670.75 per month plus Leasehold Tax. '
The balance of Paragraph 17 shall remain the same as in the afore-
mentioned lease. ,
� �
4. HOLD HARMLESS
Paragraph 8 of Lease Agreement LAG 013-85 sha'Il be revised by the
addition of the following statement:
� Lessee acknowledges that The Boeing Company considers the addition
of hangar build�ings on lessee�s Apron "B" property to represent a
changed condition in terms of potential Itability, since a portion
. 00 Boeing�s privately-owned 10" dia. high pressure fire prevention
wai-er main is located under this Apron. Therefore Lessee further
acknowledges that The Boeing Company shall not incur any liability
in the event of a break in that 10" dia. wai-er main.
�
5. MAINTENANCE ACCESS 8 BARRIER INSTALI�FlTION
`
a) Lessee guarantees to allow the Lessor and The Boeing Company
reasonable access to the property for the purpose of
_ maintaining any Lessor-owned or Boeing-owned utility
installations located on Lessee�s Apron "B�� proPerty and on
, contiguous property retained by Lessor or leased by Boeing.
. � Except in cases �of emergency, advance notification of the need
� � for such access will be provided by Lessor and by The Boeing
, Company.
- � b) . Lessee agrees to install protective barriers to safeguard
. above-ground Utility Systems owned by The Boeing Company and
located on the Apron "B�� leased property. ' _
� 2
� � ,
. , , ,
' I
> � LAG 013-85
ADDENDUM #01-86
6. APPLICABILITY OF ORIGINAL LEASE
All other terms, conditions and provisions of Lease Agreement LAG
013-85, dated January I , 1985, unless specifically modified and
amended by this agreemenf and upon it becoming e#fective, shall
remain in full force and effect.
;,
.�
�:�
' DATEu TH I S ���� day of 19 ��
, JOSEP C�e , JRo CITY OF RENTONH a Municipal
C poration / 5 G�
,��~"'`� LESSEE � _ or
e,.. ATTEST: .
�PRO D AS TO LEGAL_ FORM: City Clerk
— . ;` �__ - -, -_ . .
_ -� • - __-3Y^"'�.` ,:>T' r���f '4 ' -;.-�i� - ' , ' ` _ -_
,- _ - �y<f,;''- .. ,' .
._� ' - "
.�_ -__ �. -_ ""� ' ". _ ` _
City �t orney - w- ` - '
3 ,
STATE OF WASHINGTON)
, ) ss.
COUNTY OF K I N G)
�t
This is to certify that on this � day of December, 1986, before
me, the undersigned Notary Public, personally appeared JOSEPH C. LANE, JR.
to me known to be the person whose name is subscribed to this instrument
and who acknowledged to me that he executed the foregoing instrument as
his free and voluntary act and deed, for the uses and purposes therein
stated.
Given under my hand and official seal this /��f day of December, 1986.
�
>
SANDRA M. ORPMAN _--. C .
RP
Rlotary PubllC T Y PUBLIC in and for the State of
STA'PE OF WASMIN�TO(d W ington, residing at �L�-r-�
My Comm. Eup,Sep.22�1989
1 ,
. .
. - ' � �
STATE OF WASHINGTON )
� ) ss �
GOUNTY OF KING ) . ` , �
This is to certify that on this -31st day of December, 1986
before me, the undersigned Notary Public, . personally appeared
� Barbara Y. Shinpoch and Maxine E. Motor
to me known to be the duly qualified and acting Mayor and City Clerk '
respecttvely, o'f 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 at�thorized and that the
, - seal attached thereto 1s the corporate seal of the City of Renton.
. ,
Given under my hand and official seal this 31st day of December
19 86 .
-,r..
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• � �'� Y:\�•- V-'� -- -'��"✓��iir� •
� *'� /�i
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Notary P I i i n and for tli�fS�ta�t��_v�� _,�-�
..--, ,,..
' of Was h i n n, res i d i ng a�%-��e�����iiig,C�ounty
, ! � � - , -. r.r _
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L
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. ' � � � LAG 013-85
, � � ADDENDUM 01-86
� ' � ' JOSEPH C.. LANE, JR. �
, , LEASE AGREEMENT
� , � LEGAL DESCRIPTION _
EXHIBIT A -
That pori-ton of the southwest quarter of Section, l7, Township 23 Norfh Range 5 ,
East W.M. described as follows:
, ,
BEGINNING at the intersection of the centerline of Rainier Avenue North and
Airport .Way North;
� Thence along the-,centerline of Airport Way North, South 87°30� 17" East a
distance of. 744.03 feet to a point where the Renton Airport centerline
intersects Airport Way North; �
Thence along safd runway centerline North 4°49�43" West a distance of 294.74
feet to a point referred to as runway Station 0+00;
, _Thence North 4°49�43" V�est a distance of 1 ,240. 13 feet;
Thence South 85°10� 17" West a distance of 375.00 feet to the True Point of
_ Beginning; -�
Thence South 85°10� 17" West a distance of 179.33�; .
Thence North 3°18�00" a distance of 383.86 feet;
Thence North 85°10� 17" East a distance of 125.05 feet; - , �
Thence South 4°49�43" East a distance of 380.00 feet to the True Point of
Beginning;
(Containing an area of 57,833.46 square feet, less a 100 square foot area for a
sanitary sewer pump station, and less a 241 .05 square foot area for anti-syphon
piping. TOTAL AREA = 57a492.41 snuare feet.
, �
,
. , _
. � 6 .
, , , �
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_. _ _ . ;,, - -- . - . .. SCALE,� ��� _ 40� �
, ;, .� _
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- ` . . BASE LINE 350� OFFSET FROM . � �� �
� 'OF RUNWAY . �\
�. �
. . - g 4 49� 43��. E . ° - - �
- . - - � �
� ' . . ;� . . �
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_ __� � S 4 49� 43�� E �
380.00�` - - � - - �
- ' - 5 0� �,,
_ . �.
. � t: � — EDGE CONC. APRON
I , �
" ' , _ 1 ( (_ --� I f.l , �
;, : �
;, �
W , AREA = 5�,:1F9�2-..4 i�= � SQ. FT. ; �,.
- _ . �,. .
� �, ._ � �
�,
o � LOCATION OF 241.05 SQ. FT. AREA . �
° `n :FOR �1NT1-S(PHON PIPING . • i�. ' �
°D N RETAINED BY THE BOEING C0. ; ��' � �-
Z .: ;{� M �
� - - • `
� . 20' • , • _ . " �l . , _ 1` p� � � � . .
. 15� °D
, .„� ,
i
�__ � ti . , � N _ �� °/
- - �Ip' - �� ��l� �
� 15.15 0
too� � ' � . _ LAG 013- �5
. 3a3,as'� ; � ADDENDUM 01-86
� , N 3� 18� 00" E r 1
� r. . .
, ,� '
; APPROX. LOCATION OF 100 ' �
, SQ. FT. AREA FOR SANITARY � . PROP. COR. �
, SELVER PUMP STATION � � � - • ( R.R. SPIKE)
. � � RETAINED BY LESSOR . � ,, - - , . .
. . " i • , . : . : . � •
. �
- , �� JOS�,PH- �C. :LA�iE � „
. � � . .. w . . � -Y - . . ' _
. . . . . �� ' � - , �
� : � y � RENTON MUNICIPAL AIRPORT �
� � . , APPROVED /�SHSce� • DRAWN BY � J.A. DATE � i`.�;.�:_ _ . _
� AIRPOR,T v D�RECTOR. C HE C K E D BY � FIELD BOOK
" � -f
^ �
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• . i �
ai
LAG 013-85
- ADDENDUM #02-86
LEASE AGREEMENT
(CITY OF RENTON TO JOSEPH C. LANE, JR.)
THIS INDENTURE OF LEASE executed in triplicate, effective as of November Ist
1986, by and between the CITY OF RENTON, a municipal corporation, hereinafter
referred to as "Lessor", and JOSEPH C. LANE, JR.,, hereinafter referred to as
"Lessee":
WITNESSETH:
1 . PREMISES LEASED:
WHEREAS THE ABOVE PARTIES have heretofore entered into and executed
a certain lease extension agreement, effective as of January I , 1985, namely
LAG 013-85, further reference being had thereto, and
WHEREAS it is necessary and desirable to amend this lease by adding
a parcel of property at the north end of the leased area, as released by the
Boeing Company, and adJusting the west property line to provide clEarance for
hangar buiiding,, and _
WHEREAS it is necessary and advisable to amend and modify the .
aforesaid Lease Agreement upon the terms and conditions herein set forth, and
to provide for such additlon and adjustment in the monthly rental
necessitated thereby , NOW THEREFORE it is hereby agreed and covenanted
between the parties as follows:
Lessor does hereby revise the total existing ground lease
area related to lease LAG 013-85 by adding the subJect
transferred unlmproved parcel of real estate, being
located within the conflnes of the Renton Airport,
� Renton, King County, Washington.
See Exhibit "At° Legal Description and Exhibit "B" Lease
Map attached hereto and made a part hereof as if fully
set forth herein.
Area of added parcel = 13,415.31 sq. ft.
REVISED TOTAL LEASED AREA = 70,907e72 sq. ft.
2. RENTAL PAYMENTS
The adjusted rental fior lease LAG 013-85 during the
balance of the initlal I,ease term is as follows: Lessee shall and
will pay unto Lessor a revised ground-space rental per the.
following schedule:
`` • I a�
LAG 013-85
ADDENDUM #02-86
Rental Rate: 70,907.72 sq. ft. @ $. 14 per sq.ft. per year =
$827.26 per month plus Leasehold Tax
3. RENTAL RENEGOTIATION
Paragraph 17 of Lease Agreement LAG 013-85 shall be revised to read
as follows:
Said rental payments as specifled in Paragraph 2 hereot
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 rental specified in Paragraph 2 of this
Addendum #02-86 to Lease Agreement LAG 013-85, i .e.
$827.26 per month plus Leasehold Tax.
The balance of Paragraph 17 shall remain the same as in the afore-
mentioned lease.
4. HOLD HARMLESS
Paragraph 8 of Lease Agreement LAG 013-85 shall be revised by the
addition of the following statement:
Lessee acknowledges that The Boeing Company considers the addition
of hangar buildings on lessee�s Apron "B" property to represent a
changed condltion in terms of potential liabllity, since a portion
00 Boeing�s privately-owned 1001 dia. high pressure tire prevention
water main is located under this Apron. Therefore Lessee fiurther
" acknowledges that The Boeing Company shall not incur any 1lability
in the event of a break in thafi 10" diae water main.
5. MAINTENANCE ACCESS � BARRIER INSTALLATION
a) Lessee guarantees to allow the Lessor and The Boeing Company
reasonable access to the property for the purpose of
maintaining any Lessor-owned or Boeing-owned utility
installations located on Lessee�s Apron "B" property and on
contiguous property retained by Lessor or leased by Boeing.
Except in cases of emergency, advance notification of the need
for such access wiil be provided by Lessor and by The Boeing
Company.
b) Lessee agrees to lnstall protect.,ive barriers to safeguard '
above-ground Utillty Systems owned by The Boeing Company and
located on the Apron "B" leased property.
2 '
. i� • ,� .4 . _
�
. , LAG 013-85
ADDENDUM #02-86
6. APPLICABILI7Y OF ORIGINAL L.EASE
AIl other terms, conditions and provisions of Lease Agreement LAG
013-85, dated January I , 1985, unless specifically modified and
amended by this agreement and upon it becoming effiective, shall
remain in full force and effect.
DATED THIS �d� day of���o 19 �'�
JO EPH . A , JR. CITY OF RENTON, a Municipal
Cor ratjon �
Y�GUtttJ � bG`�
�'y LESSEE � ayor
�-' ATTEST:
r' -
- sAPP V D AS TO LEGAL FORM: " City Clerk
/
,�! City A torney
.
3 .
r ��,� � � 1
STATE OF WASHINGTON)
, ) ss.
COUNTY OF K I N G)
This is to certify that on this ����day of December, 1986, before
me, the undersigned Notary Public, personally appeared JOSEPH C. LANE, JR.
to me known to be the person whose name is subscribed to this instrument
and who acknowledged to me that he executed the foregoing instrument as
his free and voluntary act and deed, for the uses and purposes therein
stated.
Given under my hand and official seal this /$�day of December,. 1986.
r %
�-��-- - - - - -- - - = - - / ,
SA�DRA M. ORPHAN ~�' �-z- �
rootary Public �`TAR PUBLIC in and for the State of
STATE OF WASHINGTC�N ington, residing at c�c�
S My Comm. Exp.Sep.22,1989
t
, °�, '1
, i..
LAG 013-85
ADDENDUNi 02-86
STATE OF WASHINGTON )
) ss
COUNTY OF KING )
This is to certify that on this 31st day of December, 1986
before me, the undersigned Notary Public, personally appeared
Barbara Y. Shinpoch and Maxine E. Motor
to me known to be the duly qualified and acting Mayor and City Clerk
respectively, _of the City of Renton, Washington, and acknowiedged that they
executed the above and foregoing instrument fior the City of Renton as the
free and voluntary act and deed of said City fior 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 Rentona
Given under my hand and officlal seal this 3lstday of December 19�
� _ _ , -- -
Notary Pu ic in and fior _ttie= State._,- = : __
ofi Wash i on, res i d i ng a� �'�ci_K.irig=_�Courity
, �, : _
_ � _ _ _ � _
;; - = � _ -�. .'
(���;;� .._.
� 4
� '
� ;
_ .,
LAG 013-85
� � ADDENDUM #02-86
JOSEPH C. LANE, JR.
LEASE AGREEMENT
EXHIBIT "A"
LEGAL DESCRIPTION
AREA 1
That portion of the southwest quarter of Section 17, Township 23 North Range
5 East W.M. described as follows:
BEGINNING at the intersection of the centerline of Rainier Avenue North and
Airport Way North;
Thence along the centerline of Airport Way North, South 87030� 17" East a
distance of 744.03 feet to a point where the Renton Airport centerline
intersects Alrport Way North;
Thence along said runway centerline North 4�49�43" West a distance of 294.74
feet to a point referred to as runway Station 0+00;
Thence North 4°49043" West a distance of 1 ,240e13 feet;
Thence South 85°10� 17" West a distance of 375.00 feet to the True Point of
Beginning;
Thence South 85°10� 17" West a distance of 179.33�;
Thence North 3�1��00" a distance of 383.86 fieet;
Thence North 85°10� 17" East a distance of 125.05 feet;
Thence South 4°49�43" East a distance of 380.00 feet fio the True Point of
Beginning;
(Containing an area of 57,833.46 square feet.)
AREA 2
Together with the following described property:
BEGINNING at the Northwest corner of the above described property which is
the polnt of beginning:; '
Thence N 3�18�00" East a distance of 40.00 feet; thence N 85°10� 17" East a
distance ofi 54040 teet; thence N 4�49�43: West a distance of 130.43 feet;
thence N 84052037" East a distance of 65.00 feet; thence S 4049�43" East a
distance of 170.37 feet; thence S 85°10�37" West a distance of 125.05 feet to
the true point of beginning.
,
�
6
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Page 2
Exhibit "A1°
LAG 013-85
Addendum #02-86
- Containing an area of 13,327.81 square fieet.
TOTAL AREA JOSEPH Cm LANE, JR. LEASE:
Area, 1 57,833.46 sq. ft.
Less area for Sewer Pump Sta. 100.00 sq. ft.
Less area for siphon piping 241 .05 sq. fit.
Additional area for Building A 87a50 sa. ft
Total Area 1 , 57,579.91 sq. ft.
Total Area 2 13,; 327.81 sa,� ft
� TOTAL AREA 70,907.72 sq. tt.
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� - LAG 013-85
�5 ADDENDUM 03-87
LEASE AGREEMENT
(CITY OF RENTON TO JOSEPH C. LANE, JR.)
THIS INDENTURE .OF LEASE executed in triplicate, effective as of May 1, 1987 by
and between the CITY OF RENTON, a municipal corporation, hereinafter referred
to as "Lessor", and JOSEPH C. LANE, JR. , hereinafter referred to as "Lessee":
WITNESSETH
1. PREMISES LEASED:
WHEREAS THE ABOVE PARTIES have heretofore entered into and executed
a certain lease agreement, effective as of January 1, 1985, namely LAG 013-85,
further reference being had thereto, and
WHEREAS it is necessary and desirable to amend this lease by
incorporating specific language in connection with the approved assignment of
interest in the aforesaid lease to Seafirst Mortgage Corporation and/or a
recognized institutional lender, to facilitate a loan for hangar construction
improvements, and
WHEREAS it is necessary and desirable to amend this lease by revising _
the area retained by lessor for installation of a Sewer Pump Station, and
WHEREAS it is necessary and advisable to amend and modify the
aforesaid Lease Agreement upon the terms and conditions herein set forth, and
to provide for such addition and adjustment in the monthly rental necessitated .
thereby, NOW THEREFORE it is hereby agreed and covenanted between the parties
as follows: .
Lessor does here6y revise the total existing ground lease area related
to Lease LAG 013-85 by deleting 50.00 sq. ft. which is an additional area to be
retained by lessor. See Exhibit "A" Legal Description and Exhibit "B" Lease
Map attached hereto and made a part hereof as if fully set forth herein.
Area of deleted parcel = 50.00 sq. ft.
REVISED TOTAL LEASE AREA = 70,857.72 sq. ft.
2. RENTAL PAYMENTS
The adjusted rental for lease LAG 013-85 during the balance of the
initial lease term is as follows: Lessee shall and will pay unto Lessor a
revised ground-space rental per the following schedule:
Rental Rate: 70,857.72 sq. ft. @ �.14 per sq. ft. per year =
$826.67 per month plus Leasehold Tax.
� l r -
�� LAG 013-85
ADDENDUM 03-87
Page Two
3. RENTAL RENEGOTIATION .
Paragraph 17 of Lease Agreement LAG 013-85 shall be revised to read as
follows:
Said rental payments as specified in Paragraph 2 hereof 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 les.s than the rental specified in Paragraph 2 of this Addendum
#03-87 to Lease Agreement LAG 013-85, i .e. �826.67 per month plus
Leasehold Tax.
The balance of Paragraph 17 shall remain the same as in the aforementioned
lease.
13. RIGHTS OF LESSOR ON LESSEE'S DEFAULT:
In recognition of the assignment of interest in this lease for
mortgage purposes, the Lessor hereby agrees that:
a) In the event of a default on the part of the Lessee, Lessor shall
, simultaneously give written notice thereof to the Lessor and to
the Mortgagee (Seafirst Mortgage Corporation, P. 0. Box 3586,
Seattle, WA 98124) . Lessee and Mortgagee shall have ten (10) days
notice in writing of the Lessor's intent to terminate this lease
and the term hereof as specified in Section 13 of the original
lease.
b) In the event that the Lessee should file a petition for bankruptcy
or be adjudicated a bankrupt, or make assignment for the benefit
of creditors or take advantage of any insolvency act, the Lessor
agrees to enter into a new Ground Lease with the Mortgagee for the
remainder of the term of this Lease.
15. CONDEMNATION:
Paragraph 15 of Lease Agreement LAG 013-85 shall be rewritten as
follows:
If the whole or any substantial part of the Premises hereby leased
shall be condemned or taken by any County, State or Federal authority
for any purposes, then the term of this Lease shall cease on the part
so taken from the day the possession of that part shall be required
for any purpose and the rent shall be paid up to that date, and from
that day the Lessee or Lessor shall have the right to either cancel
LAG 013-85
ADDENDUM #03-87
Page Three
this Lease and declare the same null and void, or to continue in the
possession of the remainder of the same under the terms herein
provided, except that the rent shall be reduced in proportion to the
amount of the premises taken for such public purposes. Lessee shall
have the right to all damages awarded from such condemnation based
upon the financial worth of the Lease. Condemnation awards for the
fee property shall be given to the Lessor. Lessee or Lessee's
Mortgagee shall receive awards for the improvements.
6. APPLICABILITY OF ORIGINAL LEASE
All other terms, conditions and provisions of Lease Agreement LAG 013-
85, dated January 1, 1985, unless specifically modified and amended by
this agreement and upon it becoming effective, hall remain in full
force and efffect.
DATED THIS 15th day of MAY lg 87
JOSEP C. E JR. CITY OF RENTON, a Municipal
Corporation
�
O
LESSEE
.,, . ATTEST: ��a—��
APPROV D AS TO LEGAL FORM: �
� �
City Attorney
LAG 013-85
ADDENDUM 03-87
.�
STATE OF WASHINGTON)
) ss.
COUNTY OF K I N G)
I CERTIFY that I know or have satisfactory evidence that
JOSEPH C. LANE, JR. signed this instrument and acknowledged it to
be his free and voluntary act for the uses and purposes mentioned
in the instrument.
.DATED this .�'�� day of � , 1987 e
- �
' SANDRA M .��-�-����.�..�� `
. CIRPHAN
�lotaryb�ubllc _ NOT RYPUBLIC in and for th _State of
STA7��FWASHiPSi�T4N �'� W shington, residing at �s�-�T�
My Cor�xP�.Ex�.5��,p.�,g68fl
LAG 013-85
STATE OF WASHINGTON ) ADDENDUM 03-87
) ss
COUNTY OF KING )
This is to certify that on this �S� day of �a� , �98 7 before
me, the undersigned Notary Public, ersonall ap�peared
.�o�►-barc� �. S�ih oc� and /Y�qxi n� � IVlo�b�' to me
known to be the duly �alified 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 this ��day of �� , 19 8 7
Notary Public in and for the Stat _ �
of Wa hington, residing at.. �.r'�n-�,-�,
•� �- --
.- _=�;:'^`j1 �� -. - _
= �-+�.k. -
- -_- - - : ` .:_
- � �_ - �:_- . � �
��,. -- . � _
�r. �
�
� ' - LAG 013-85
ADDENDUM #03-87
JOSEPH C. LANE, JR.
LEASE AGREEMENT
EXHIBIT "A"
LEGAL DESCRIPTION
AREA 1
That portion of Section 7, Township 23 North, Range 5 E W,M. described as
follows:
Commencing at a point 10 faet northerly of the intersection of the West Margin
of Lake Avenue South (formerly Lake Street) with the centerline of Airport Way
S. (formerly Dixie Avenue according to the plat of Renton Real Estates First
Addn, as recorded in Volume 21 Page 50 Records of King County Washington) ;
thence S 87°30 ' 17" East on a line 10 feet north of and parallel to the
centerline of Airport Way South a distance of 286.31 � to its intersection with
the southerly extension of the centerline of the existing runway of the City of
Renton Airport;
Thence along said runway centerline North 4°49' 43" West a distance of 294.74
feet to a point referred to as runway Station 0+00;
Thence North 4°49' 43" West a distance of 1,240.13 feet;
Thence South 85°10 ' 17" West a distance of 375.00 feet to the True Point of
Beginning;
Thence South 85°10 ' 17" West a distance of 179.33' ;
Thence North 3�18' 00" East a distance of 383.86 feet;
Thence North 85°10 '17" East a distance of 125.05 feet;
Thence South 4°49'43" East a distance of 380.00 feet to the True Point of
eeginning;
(Containing an area of 57,833.46 square feet. ) '
AREA 2
Together with the following described property:
BEGINNING at the Northwest corner of the above described property which is the
point of beginning: ; �
Thence N 3°18' 00" East a distance of 40.00 feet; thence N 85�10'17" East a
distance of 54.40 feet; thence N 4°49' 43: West a distance of 130.43 feet;
thence N 84°52'37" East a distance of 65.00 feet; thence S 4°49' 43" East a
distance of 170.37 feet; thence S SS°10'37" West a distance of 125.05 feet to
the true point of beginning.
(Containing an area of 13,327.81 sq. ft. )
EXBiIBIT "A°
Page Two
LAG 013-85
ADDENDUM #03-87
TOTAL AREA JOSEPH C. LANE, JR. LEASE:
Area 1 57,833.46 sq. ft.
Less area for Sewer Pump Station 150.00 sq. ft.
Less area for Siphon Piping 241 .05 sq. ft.
Additional area for Building A 87.50 sq. ft.
Total Area 1 57,529.91 sq. ft.
Total Area 2 13,327.81 sq. ft.
TOTAL AREA 70,857.72 sq. ft.
�
. ���' ' . � Ref'
'F-. . ESTOPPEL CERTIFICATE - % LAG ..Ik013-B5
� � . � Adden. �{3-87
�;: � . �
• , � , � . � � .<
•� , � � � � Seafirst Mortgage Corporation � �
� • � P.O. . Box 3586 . .
� • Seattle, Washington 98124
' The undersigned� being the present owner and lessor of certain la�nd and
� � . premises located in the City of Renton , County'of Kin,g
and State of Washin ton , as more u y escribed in a ease
Agreement date January 1 , 86, by and between the undersigned as
M�ESS01"" and JOSEPH C. LANE, JR. ,
as "Lessee" t ere�n ere na ter re erre o as e roun ease . un ers ah S,
that you are about to make a loan in the amount of S 450,00o to be
. secured by a mortgage or deed of trust encumbering the Lessee's interest in the
� Ground Lease and the leasehold estate created thereby. The undersigned
further understands that it is a condition to the making of said loan that this
- � certification be furnished to you. Accordingly, and with the knowledge that you
. will be relying upon the statements herein made, the undersigned hereby cer-
� . tifies as follows:
� � 1. That the Ground Lease is in full force and effect and has not been
. . � �� assigned, modified, supplemented or amended in any way other than by
. the following agreements: -
,
. Addendum ��01-86 dated 10/1/86
� Addendum ��02-86 dated 11/1/86
� Addendum �k03-87 in process ref. lease I�anguage changes
� � . and that there shall be no mutual cancellation, surrender �or modifica-
- tion of��he Ground Lease �without your prior written consent. �
2. That there is no default under the Ground Lease in the payment of
rent or in the observance or performance of any other covenant or
condition to be observed or performed by Lessee and that the under-
signed has no knowledge of any state of f acts which, with the giving
of notice, passage of time or both, would constitute a def ault by
Lessee thereunder.
� 3. That the undersigned has no knowledge of any prior assignment,
� except as herein stated, or of any prior hypothecation or pledge
of Lessee's interest under the Ground Lease. -
4. That the term of the Ground Lease expires on December 31, 2oos
and Lessee has the option to renew for one renewal terms of
10 years each.
� 5�. That the undersigned consents to the mortgage and assignment of said
� - Lessee's interest in the Ground Lease to you. Lessee shall, however,
. ' remain liable to the undersigned for full performance of all
, obligations under the Ground Lease.
� � 09-23-86
MF3:16.1R
; � � ' 6. That the undi gned, upon serving Lessee wit �tice of any default�
�► shall simult� , �sly serve a copy thereof upo �u and notice shall not
� be deemed to have been served upon Lessee unless the undersigned shall
simultaneously serve a copy of such notice upon you. Upon receipt of
� written notice of any default of Lessee� you shall have the same
period� after service of such notice upon you� to remedy or cause to be
remedied the defaults complained of and the undersigned shall accept
such performance as if the same had been done by Lessee.
� ''� 1. That in the event the Ground Lease terminates for any reason,
including the re3ection of the Ground Lease in a bankruptcy pro= .
ceedi.ng, the undersigned agrees to enter into a new Ground Lease f or
. the�remainder of the term, eff ective as of the date of such ter-
mination at the rent and additional rental and upon the terms, con-
ditions, covenants and agreements as contained in the Ground Lease and
equal in priority thereto, provided that you shall deliver a written
request to the undersigned for such new lease within fifteen (15) days
after the notice of termination has been served upon you together with
all sums then due to the undersigned under the Ground Lease and you
shall agree to perform and observe all covenants contained therein on
Lessee's part to be performed and shall further remedy any and all
other defaults of Lessee then in existence capable of performance by
you. If the Ground Lease terminates because of bankruptcy of Lessee,
you shall not be requested to cure such default prior to the execution
of a new lease.
8. That you may be named as your interest shall appear on any standard
mortgage endorsement bn any and all insurance covering the Leased
Premises, the improvements or any part thereof; -
9. That any restrictions on assignment of the Ground Lease, including those
whic}i may require the consent of the undersigned, s}�all not be binding
upon or applicable to you, sub�ject to compliance witl� Paragrapti 3, "Purpose
of Use", of Lease Agreement LAG 013-85 between tt�e City of Renton and
Joseph C. Lane, Jr. The undersigned further agrees that you shall not
be liabile under tt�e Ground Lease following assignment or other dis=
position of the Lessee's leasehold estate nor be responsible for
obligations under the Ground Lease unless and until you shall become
the owner of the Lessee's leasehold estate, at which time you shall pay
' all sums then due to the Lessor under tl�e Ground Lease.
10. Thatthe statements herein made shall be binding upon the undersigned,
our successors and assigns, and inures to your benefit and t1�e benefit
of your successors and assigns.
IN WITNESS WHEREOF� his certificate has been duly executed and delivered as
of the �3O� day of �j�� . 19 �.
�
LESSOR: �
� B,►: �o�b� , `�'R� c,�,
MAYOR
APPR JVED:
A T TEST: ��2��-'� �
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