HomeMy WebLinkAboutAdden 06 LAG-10-001
AMENDMENT NO. 6
AMENDMENT NO.6T0 LEASE AGREEMENT LAG-10-001
(City of Renton to The Boeing Company)
THIS AMENDMENT No.6 t Lease Agreement LAG-10-001 ("Amendment No. 6") is entered into
as of April 1,2015, by the City of Renton, a Municipal Corporation (Landlord) and The Boeing
Company, a Delaware corporation (Tenant)and amends that certain lease agreement LAG-10-
001 dated June 1, 2010 as amended to the date hereof (the "Lease").
RECITALS:
1. WHEREAS, the Tenant is leasing the 760 and 770 Parcels under lease, LAG 10-001 as
amended by Amendment No. 4; and
2. WHEREAS, under Amendment No.4, Landlord provides an annual discount for
Current Tenant Rental Income of$44,689, as defined in Section 5 of Amendment No.
4; and
3. WHEREAS, the Tenant has granted the Landlord use of the 760 Parcel and the 770
Parcel under lease Amendment No. 4, until March 31,2015; and
4. WHEREAS, the Tenant and the Landlord have agreed to extend Landlord's use of the
760 Parcel and the 770 Parcel to a date no earlier than 120 days after the delivery of
a notice by Tenant, which date shall be no earlier than August 20, 2015 and no later
than October 1, 2015; and
5. WHEREAS, Landlord agrees to continue providing an annual discount for Current
Tenant Rental Income of$44,689, as defined in Section 5 of Amendment No.4, until
the end of the Current Tenant Lease Period.
NOW,THEREFORE, INCONSIDERATION OF THE TERMS AND CONDITIONS HEREIN CONTAINED
AND FOR OTHER GOOD AND VALUABLE CONSIDERATION,THE RECEIPTAND SUFFICIENCY OF
WHICH IS HEREBY ACKNOWLEDGED, LANDLORD AND TENANT AGREE TO AMEND THE LEASE AS
SET FORTH BELOW:
WITN ESSETH:
Landlord and Tenant agree to amend the Lease, in the following respects:
A. Section 1.b. Landlord's Right to Continue Leasing the 760&770 Parcels,
amended under Amendment No.4 of the Lease is amended to read as follows:
"Landlord shall continue leasing the 760 Parcel and the 770 Parcel to the Current Tenants (who
shall be treated as tenants of Landlord and not subtenants of Tenant for purposes of the Lease,
and who shall pay their rents directly to Landlord) until such time as Tenant provides written
notice to Landlord that Tenant requires use of said
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LAG-10-001
AMENDMENT NO. 6
parcels, which notice shall be provided to Landlord no later than 120 days prior to the date of
Tenant's required use(the "Current Tenant Lease Period"), PROVIDED that the Current
Tenant Lease Period shall end pursuant to the foregoing no earlier than August 20, 2015 and
no later than October 1, 2015. During the Current Tenant Lease Period, Tenant shall
have the right to enter the 760 Parcel and the 770 Parcel from time to time for the
purpose of making soil borings and taking soil samples, conducting survey work,
and performing other tasks preliminary to Tenant's future occupancy and
development of the 760 Parcel and the 770 Parcel, PROVIDED that Tenant shall
not leave any equipment or installations on the 760 Parcel or 770 Parcel and
Tenant shall schedule its entries and its activities during the Current Tenant Lease
Period so as not to interfere with the business of the Current Tenants on the 760
Parcel or the 770 Parcel. Tenant shall, at Tenant's cost, have the right to conduct an
environmental assessment (in addition to the soil borings provided for above) of the Apron
C Parcels after the Current Tenants have been relocated to establish the environmental
condition of the 760 and 770 Parcels prior to Tenant's occupancy. At the end of the Current
Tenant Lease Period, Landlord shall ensure that the Current Tenants are no longer in
possession of the 760 Parcel and 770 Parcel."
B. Section 4.a.l. Rental offset for the Apron C Parcels, as amended under Amendment No.4
of the Lease is amended to read as follows:
"Beginning on the commencement of the Term for the Apron C Parcels and ending on
September 30, 2015,or when Tenant takes possession of the 760 and 770 Parcels,
whichever is earlier, Landlord shall apply a credit of Three Thousand Seven Hundred
Twenty Four dollars and zero cents ($3,724.00) per month, which amount is one-twelfth
of the Current Tenant Rental Income, toward the Minimum Monthly Rent paid by the
Tenant under the Lease,as amended herein."
C. Section F Miscellaneous as amended under Amendment No. 4 of the Lease is amended to
read as follows:
"This Amendment No. 6 will be effective on April 1, 2015. This Amendment No. 6 may be
executed in multiple counterparts, each of which shall be deemed an original, but all of
which, together, shall constitute but one and the same instrument. This Amendment No. 6
shall be governed by the law of the State of Washington, without reference to its choice of
law rules. This Amendment No.6 supersedes any prior agreements, negotiations and
communications, oral or written, with respect to the addition of the 760 Parcel and the 770
Parcel to the Premises under the Lease and contains the entire agreement between, and
the final expression of, the Landlord and Tenant with respect to the addition of the 760
Parcel and the 770 Parcel to the Premises. No subsequent agreement, representation, or
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AMENDMENT NO. 6
promise made by either party hereto, or by or to an employee, officer, agent or
representative of either party hereto shall be of any effect unless it is in writing and
executed by the party to be bound thereby. As amended by this Amendment No. 6, the
Lease continues in full force and effect in accordance with its terms. On and after the date
of this Amendment No.6,the Lease shall be deemed amended by this Amendment No. 6
and all references in the Lease to "this Agreement" "this Lease" "herein" "hereof" and the
like shall be deemed to be references to the Lease as amended by this Amendment No. 6."
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AMENDMENT NO. 6
D. Except as modified herein,all terms of the Ground and Building Lease (LAG 10-001)and Addenda,
thereto, shall remain unchanged and shall remain in full force and effect.
Executed by Landlord and Tenant as of the date first written above.
The Boeing Company CITY OF RENTON
a Delaware Corporation a Municipal Corporation
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Mayor
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Approved as to legal form
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City Attorney
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