HomeMy WebLinkAboutAdden 3 LAG 13-005
Amendment 03-16
AMENDMENT TO BUILDING LEASE AGREEMENT
City of Renton to Landing Gear Works, LLC
THIS AMENDMENT No. 3 to Lease Agreement LAG 13-005 is entered into as of
October 1, 2016 by the City of Renton, a Municipal Corporation (Landlord) and Landing
Gear Works, a limited liability company (Tenant) and amends that certain lease
agreement LAG 13-005 dated September 1, 2013.
RECITALS:
WHEREAS, the Tenant is currently leasing 6,710 square feet in the building
located at 295 East Perimeter Road (295 building), under Lease LAG 13-005 and
Amendments 1 & 2 thereto; and
WHEREAS, the total square footage of the first floor of the building is 10,204,
leaving 3,494 square feet of the building unleased; and
WHEREAS, Tenant desires to lease the entirety of the first floor of the building;
and
WHEREAS, Landlord desires to lease to Tenant the entirety of the first floor of
the building; and
WHEREAS, the currently leased 6,710 square feet in the 295 building is
composed of 4,102 square feet of office space (representing approximately 60% of the
leased space) and 2,608 square feet of storage space (representing approximately 40%
of the leased space); and
WHEREAS, the Tenant anticipates that the current ratio of office space to
storage space would continue to be representative of Tenant's use of the entire first
floor of the building; and
WHEREAS, the Tenant would allocate 60 percent of the total square footage of
the first floor of the building to office space and 40 percent of the total square footage
of the first floor of the building to storage space; and
WHEREAS, the total office space in the first floor of the building would increase
to 6,122 square feet (10,204 x 60% = 6,122), and the total storage space in the first
floor of the building would increase to 4,082 square feet (10,204 x 40% =4,082); and
ORlGII�qL
Lease Agreement LAG 13-005 1
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 03-16
WHEREAS, the office lease rate is $4.50 per square foot per year for the 295
building; and
WHEREAS, the standard storage lease rate is $0.42406 per square foot per year.
NOW,THEREFORE, IN CONSIDERATION OF THE TERMS AND CONDITIONS HEREIN
CONTAINED AND FOR OTHER GOOD AND VALUABLE CONSIDERATION,THE RECEIPT
AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, LANDLORD AND TENANT
AGREE TO AMEND THE LEASE, LAG 13-005 AS AMENDED, AS SET FORTH BELOW:
WITNESSETH:
1. The Landlord and Tenant do hereby agree to amend section 1.b. Le�al Description
and Reservation of Easement to read as follows: Landlord hereby leases to Tenant,
and Tenant leases from Landlord for the term described in Section 3 below, the
entire first floor of the building located at 295 East Perimeter Road as shown in
, Exhibit A attached hereto and incorporated herein by reference (hereinafter,
"Premises") which includes 6,122 square feet of office space, and 4,082 square feet
of storage space.
' 2. The Landlord and Tenant do hereby agree to amend Section 4.a. Minimum Monthlv
Rent to read as follows: Tenant shall pay to the Landlord a Minimum Monthly Rent
in the sum of Two Thousand Four Hundred Forty and 00/100 Dollars ($2,440.00),
PLUS Leasehold Excise Tax as described in Section 5, below, without deduction,
� offset, prior notice or demand, payable promptly in advance on the first day of each
and every month. All such payments shall be made to the City of Renton 616 West
Perimeter Road, Unit A, Renton, Washington 98057. The Minimum Monthly Rent is
computed as follows:
(6,122 sq. ft.)($4.50 per sq. ft. per year) _ $27,549
(4,082 sq. ft.)($0.42406 per sq. ft. per year) _ $1,731.01
$27,549.00+ $1,731.01 = $29,280.01/ 12 months = $2,440.00 PLUS leasehold
excise tax
3. All other terms and conditions of the original Lease Agreement and Amendments
thereto, insofar as they are not inconsistent herewith, shall remain in full force and
effect.
Lease Agreement LAG 13-005 2
City of Renton to Landing Gear Works LLC
LAG 13-005
Amendment 03-16
Landing Gear Works LLC CITY OF RENTON
a Washington Lir�ited Liability Company a Municipal Corporation
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Approv as to legal form:
Lawrence J. Warren, City Attorney
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Lease Agreement LAG 13-005 3
City of Renton to Landing Gear Works LLC
I
LAG 13-005
Amendment 03-16
AMENDED EXHIBIT A
See attached.
Lease Agreement LAG 13-005 4
City of Renton to Landing Gear Works LLC
EXHIBIT A
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Office Space = 6, a�� ��,����a���_� ;�����
Storage Space = 4,082 square feet
l�otal Leased Space = ��_�,2�4 square fe��
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