HomeMy WebLinkAboutAdden 1 LAG-15-005, Adden #1-15
AMENDMENT TO LEASE AGREEMENT
(City of Renton to Rainier Flight Service, LLC)
THIS AMENDMENT to Lease Agreement LAG 15- ()Dy is effective as of October
1, 2015.
RECITALS:
WHEREAS, Rainier Flight Service LLC (Tenant) has an existing Lease Agreement
with the City of Renton, LAG 15- ()WC executed on October 1, 2015, for the land
located at 820 West Perimeter Road, Renton, Washington 98057 (820 Parcel); and
WHEREAS, Tenant intends to redevelop the 820 parcel to expand its existing
business; and
WHEREAS Tenant desires to sub-lease the 820 Parcel temporarily back to the
City of Renton; and
WHEREAS, during the period of sublease to the City of Renton there will be
improvements made on the parcel that will benefit Tenant; and
WHEREAS, during the period of sublease to the City of Renton the Tenant will
provide Landlord with a construction plan, proceed with planning, surveying, financing,
to commence construction as soon after May 31, 2019 as is practical; and
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 that the Tenant shall sublease the entirety of
the 820 Parcel back to the Landlord effective on October 1, 2015 until May 31,
2019.
2. The Landlord and Tenant do hereby agree that any other tenants who occupy the
820 Parcel during the sublease shall be treated as tenants of the Landlord and not
subtenants of the Tenant for purposes of the Lease, and who shall pay their rents
directly to the Landlord until the end of the sublease.
ORIGINAL
Lease Agreement LAG 15-XXX
City of Renton to Rainier Flight Service LLC 1
LAG 15-
Amendment 01-15
3. The Landlord and Tenant do hereby agree to a rental rate of zero dollars ($0) for
this sublease. The Tenant further agrees that the sublease rental rate will not
change for the duration of the sublease.
4. The Landlord and Tenant do hereby agree that a rental payment credit of$4,462.94
per month for the 820 Parcel (73,849 square feet at $0.7252 per square foot per
year) will be applied to the Tenant's invoice each month through May of 2019.
5. The Landlord and Tenant do hereby agree that the sublease shall automatically
expire on May 31, 2019.
6. All other terms and conditions of the original Lease Agreement insofar as they are
not inconsistent herewith, shall remain in full force and effect.
Rainier Flight Service LLC CITY OF RENTON
a Washington Corporation a Municipal Corporation
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Denis Law
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City Attorney
Lease Agreement LAG 15-XXX 2
City of Renton to Rainier Flight Service LLC