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Adden #3-04
ADDENDUM TO LEASE AGREEMENT
(City of Renton to BHC, Inc.)
THIS ADDENDUM to Lease Agreement LAG 93-004 is effective as of October 28,
2003.
RECITALS:
WHEREAS, both parties agreed to make periodic adjustments to the land rental rate
based upon the Consumer Price Index -Urban, for the Seattle-Tacoma area, the periodic
adjustment to be made as of October 28, 2003, for the next five year period ending October
28, 2008.
NOW, THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND
BETWEEN THE CITY OF RENTON AND BHC, INC., AS FOLLOWS:
WITNESSETH:
1. The Lessor and Lessee do hereby agree to an annual land rent of$18,438.28 for the
48,778.51 square feet identified in lease agreement LAG 93-004.
2. Lessor and Lessee do hereby agree that the annual rent shall remain in effect until
October 28, 2008, and effective as of that date the rental rate shall automatically be readjusted
by and between the parties as specified in paragraph 3 of the lease, utilizing the increase of the
Consumer Price Index, and for each five (5) year period thereafter. Minimum base rental for
any extended period shall not be less than the current annual rental of$18,438.28.
3. Lessor and Lessee do hereby further agree that the Consumer Price Index
information to be used for rental adjustments shall be the Consumer Price Index-Urban (CPI-
U) then in effect for all urban consumers, as published by the US Department of Labor for the
Seattle-Tacoma Metropolitan Area.
4. Lessor and Lessee do further agree that the difference between the CPI-U of
October 27, 1998 to October 28, 2003, is 16.7% (194.4-166.6=27.8/166.6=.167 or 16.7%).
This results in an annual rate increase from $0.324 to $0.378 per square foot.
5. Lessor and Lessee do hereby further agree that at least thirty(30) days prior to the
Rental Adjustment Date either party shall, if they desire to adjust the base land rental rate for
the ensuing five (5) year period by a means other than the Consumer Price Index-Urban,
provide to the other party a written request for readjustment of the rental rate pursuant to
RCW 14.08.120(5).
0 LEASE AGREEMENT 93-004 %
City of Renton to BHC, Inc. I
LAG 93-004
6. All other terms and conditions of the original Lease Agreement shall remain in full
force and effect.
BHC, INC CITY OF RENTON
a Municipal Corporation
Mayor, athy Keolker-Wheeler
&4dtLv- �)�
City Clerk, Bonnie Walton
3- 4'14-oa�l
D &
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City Attorney
LEASE AGREEMENT 93-004
City of Renton to BHC,Inc. 2