HomeMy WebLinkAboutAdden 1 LAG 09-006
AMENDMENT 01-11
AMENDMENT TO LEASE AGREEMENT
(City of Renton to Renton Gateway Center LLC)
THIS AMENDMENT to Lease Agreement LAG 09-006 is effective as of July 7, 2011.
RECITALS:
WHEREAS, Renton Gateway Center LLC (hereinafter "Tenant") has a Lease Agreement
with the City of Renton (hereinafter"Landlord"), LAG 09-006, executed on October 7, 2009; and
WHEREAS, in Lease Agreement, LAG 09-006,the Landlord approved the construction of
an aircraft hangar building, subject to review and approval by the Landlord; and
WHEREAS, from approximately April 2010 to July 2011,the Tenant proceeded with
diligence in the construction of an aircraft hangar building located at 750 West Perimeter Road;
and
WHEREAS, Section 3b of Lease Agreement, LAG 09-006 provides, in pertinent part, that
the initial term of the lease would be for a thirty-five (35) year period commencing on the date
that is forty-five (45) days after Tenant receives a certificate of occupancy for the
improvements to be constructed on the Premises, and terminating on the last day of the month
in which the thirty-fifth (35th) annual anniversary of such date occurs, and
WHEREAS, on July 7, 2011, the Landlord granted a final occupancy permit to Tenant for
occupancy of the aircraft hangar building, establishing August 20, 2011 as the "Commencement
Date" of the initial term of the lease as defined in Section 3.b. of Lease LAG 09-006 which is
forty five (45) days after the Tenant received a certificate of occupancy for the aircraft hangar
building; and
WHEREAS, the initial term of the lease, as established in Lease Agreement LAG 09-006,
is for a thirty-five (35) year period, commencing on August 21, 2011, and terminating on the
last day of the month, being August 31, 2046; and
WHEREAS, the leased area (as shown in Exhibit A, Lease Map and Legal Description)
consists of 136,846 square feet; and
WHEREAS, the private sewage pump station which only serves the Tenant's building
located at 750 West Perimeter Road is provided with 480/208 electrical service via an electrical
meter (meter number KZG0041591242 with serial number Z04159124) which is located on the
760 leased area; and
ORIGINAL
LAG 09-006
AMENDMENT 01-11
WHEREAS, the electrical meter providing power to the sewage pump may need to be
relocated in the future if the 760 West Perimeter Road leased area is redeveloped for another
use; and
WHEREAS, electrical power serving Gate V-4 (next to the Tenant's hangar building)
comes from the Tenant's building.
NOW,THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND BETWEEN THE CITY OF
RENTON AND RENTON GATEWAY CENTER LLC AS FOLLOWS:
WITNESSETH:
1. Landlord and Tenant do hereby agree to amend Section 3 Term, of LAG 09-006 to
establish that the Commencement Date of Lease Agreement LAG 09-006, is August 21,
2011, and that the initial term of the lease shall be for a period of thirty five (35) years,
with an Expiration Date of August 31, 2046.
2. Landlord and Tenant do hereby agree to amend Section 4 Rent, of LAG 09-006 to
establish that the annual land rent for the 136,846 square feet identified in Exhibit A,
Lease Map and Legal Description, attached hereto, will be $78,002.22 (136,846 x$0.57 =
$78,002.22), subject to increase pursuant to Paragraph 5, below.
3. Landlord and Tenant do hereby agree that Landlord can remove the electrical service
meter which provides electrical power to the Tenant's private sewage pump station at
any time with three (3) months' prior written notification from Landlord to Tenant. In
that event,Tenant agrees to repower the Tenant's private sewage pump station at
Tenant's cost and expense using the existing underground conduit from the 750 West
Perimeter Road hangar building to the sewage pump station.
4. Landlord and Tenant do hereby agree that Tenant will provide electrical service to Gate
V-4 at no charge to Landlord for the duration of the Tenant's ground lease.
5. All other terms and conditions of the original Lease Agreement shall remain in full force
and effect.
**Moe LAG 09-006
AMENDMENT 01-11
Renton Gateway Center LLC CITY OF RENTON
a Washington Limited Liability a Municipal Corporation
Company
Diane Paholke Denis Law /O
Mayor
Managing Po0w+m ei1t�&-- �Y�-l.t�.Q• Gl/�
Title Bonnie Walton
City Clerk
0gb&& o2�� 02411
Date
Approved as to legal form
City Attorney
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