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f I • LAG 11-003
AMENDMENT 02-13
AMENDMENT TO LEASE AGREEMENT
(City of Renton to Rainier Flight Services, LLC)
THIS AMENDMENT to Lease Agreement LAG 11-003 is effective as of March 31, 2013.
RECITALS:
WHEREAS, Rainier Flight Services, LLC (hereinafter "Tenant") has a Lease Agreement
with the City of Renton (hereinafter "Landlord"), LAG 11-003, executed on April 1, 2011; and
WHEREAS, Amendment 01-12 to the lease, LAG 11-003, extended the term of the lease,
as established in Lease Agreement LAG 11-003, for a one (1) year period, commencing on April
1, 2012, and terminating on March 31, 2013; and
WHEREAS, Section 3.b. of lease LAG 11-003 provided an option to extend the lease for
one year, to April 1, 2013, which option was exercised; and
WHEREAS, Landlord desires to extend the lease term for an additional two (2) year
period, commencing on April 1, 2013 and terminating on March 31, 2015; and
WHEREAS, the ground leased area (as shown in Exhibit A, Lease Map and Legal
Description of lease LAG 11-003) consists of 12,000 square feet; and
WHEREAS, the building leased area (as shown in Exhibit A, Lease Map and Legal
Description of lease LAG 11-003) consists of 1,267 square feet; and
WHEREAS, the existing ground rental rate is$0.63/square foot per year and the existing
building rental rate is $1.105/square foot per month; and
WHEREAS, the percentage of increase between the CPI-U of December 2011 and
December 2012 is 1.3% (237.993—234.812/234.812 = 0.013 or 1.3%); and
WHEREAS, on April 1, 2013, and for the ensuing two (2) year period, the land rental rate
will be adjusted using the Consumer Price Index-Urban, from $0.63/square foot per year to a
rate of$0.64 square foot per year ($0.63/sq ft/yr x 1.013 = $0.64/sq ft/yr) for the 12,000
square feet of ground leased area, resulting in an.annual rent amount of$7,680.00 (12,000 sq ft
x$0.64/sq ft/yr= $7,680.00/yr for land rent); and
WHEREAS, on April 1, 2013, and for the ensuing two (2) year period,the building rental
rate will be adjusted using the Consumer Price Index-Urban, to a rate of$1.12 per square foot
per month ($1.105/sq ft/mo x 1.013 = $1.12/sq ft/mo)for the 1,267 square feet of building
leased area, resulting in an annual building rental amount of$ 17,028.48 (1,267 sq ft x $1.12/sq
ft/mo x 12 mo = $17,028.48 per year for building rent).
H:\File Sys\AIR-Airport,Transportation Services Division\01 Administration 6L"%I{rQGLr�Q�la�a�ngent\Leases and Operating
Permits\Renton Flight\Lease\Amendment 02-13.doc fl IV-f \Y1/(',� ((�
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• LAG 11-003
AMENDMENT 02-13
NOW,THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND BETWEEN THE CITY OF
RENTON AND RAINIER FLIGHT SERVICES LLC AS FOLLOWS:
WITNESSETH:
1. Landlord and Tenant do hereby agree to grant the option to extend the term of the
lease for an additional period of two (2) year. The new term of Lease LAG 11-003 will
expire on March 31, 2015.
2. Section 3.b. of LAG 11-003 is hereby amended to reflect that the Landlord and Tenant
do hereby agree to an additional two (2) year extension and a termination date of
March 31, 2015.
3. Landlord and Tenant agree that the percentage of increase between the CPI-U of
December 2011, compared to December 2012, is 1.3% (237.993—234.812/ 234.812 =
1.013 or 1.3%). Landlord and Tenant agree further that this results in an annual ground
lease rate increase from $0.63 to $0.64 per square foot (0.63 x 1.013 = $0.64) and a
monthly building lease rate increase from $1.105 to $1.12 per square foot (1.105 x
1.013 = $1.12).
4. Section 4.a. of LAG 11-003 is hereby amended to reflect that the Landlord and Tenant
do hereby agree to an annual land rent for the 12,000 square feet of$7,680 per year
(12,000 sq ft x$0.64/sq ft/yr = $7,680/yr) plus Leasehold Excise Tax.
5. Section 4.a. of LAG 11-003 is hereby amended to reflect that the Landlord and Tenant
do hereby agree to an annual building rent for the 1,267 square feet of$17,028.48 per
year (1,267 sq ft x $1.12/sq ft/mo x 12 mo = $17,028.48/yr) plus Leasehold Excise Tax.
H:\File Sys\AIR-Airport,Transportation Services Division\01 Administration\32 Real Property Management\Leases and Operating
Permits\Renton Flight\Lease\Amendment 02-13.doc
• LAG 11-003
AMENDMENT 02-13
6. All other terms and conditions of the original Lease Agreement, LAG 11-003, shall
remain in full force and effect.
Rainier Flight Services, LLC CITY OF RENTON
a Washington Limited Liability a Municipal Corporation
Company
•-- �-�
e—) L&L
Denis Law
Mayor
Title Bonnie Walton
City Clerk
3, 8019
Date
Approved as to legal form
City Attorney
'a K
H:\File Sys\AIR-Airport,Transportation Services Division\01 Administration\12 Real Property Management\Leases and Operating
Permits\Renton Flight\Lease\Amendment 02-13.doc
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I certify that I know or have satisfactory evidence that 60rolon P h)varcA is the
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voluntary act of such f arTler for the uses and purposes mentioned in the instrument.
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sta that was authorized o execu e e instrument and ac=to ed it as the
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Dated this J day of 200
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