HomeMy WebLinkAboutAdden 1 • • LAG-07-006, Adden #1-12
FIRST AMENDEMENT TO LEASE
This First Amendment to Lease(the"First Amendment")is entered into as of this 18`h day of January,2012
by and between The City of Renton,Washington,a Washington municipal corporation("Landlord")and
Children's Home Society of Washington Inc.,a Washington non-profit corporation("Tenant"),with
reference to the following recitals.
A. On or about January 11,2007,The City of Renton,Washington,a Washington municipal
corporation("Landlord")and Tenant entered into an Office Lease(the"Original Lease")
for that certain premises commonly known as Suite 510(the Original Premises")located on
the fifth floor of the 200 Mill Avenue South,Renton,Washington(the"Building"). The
Original Lease is hereinafter referred to as the"Lease". Pursuant to the Lease,Tenant now
leases Suite 510 comprising approximately 1,576 rentable square feet in the Building(the
"Premises")
B. Tenant desires to extend the lease for Suite 510 for a term of three additional years,and
Landlord and Tenant hereby agree to amend Section 1 (g)of the Original Lease to correctly
reflect this new Lease Expiration Date and further amend Section 1 (i)of the Lease modifying
the Minimum Monthly Rent. Further,Tenant,due to potential funding cuts,will need an
early termination option,and the Landlord and Tenant have agreed to modify the Base Year,
and provide for minor improvements within the premises at Landlord's expense.
C. Landlord and Tenant wish to amend the Lease on the terms and conditions set forth below.
NOW,THEREFORE,for good and valuable consideration,the receipt and sufficiency of
which is hereby acknowledged,the parties hereto agree as follows:
1. Extension of Lease. Effective March 1,2012,the Lease Term shall be extended for thirty-six
months.
2. "Expiration Date" Notwithstanding anything to the contrary contained in this lease,(as
defined in Section 1 (g)of the Original Lease,the"Expiration Date"shall be amended to
read February 28,2015.
3. "Minimum Monthly Rent" Notwithstanding anything to the contrary contained in this Lease,
Section 1 (i)of the Original Lease is amended to provide for the payment of the following
Minimum Monthly Base Rent:
Period Monthly Amount
March 1,2012-March 31,2012: $0.00 per month
April 1,2012—Feb.28,2013: $2,232.67 per month
March 1,2013 -Feb. 28,2014: $2,298.33 per month
March 1,2014-Feb. 28,2015: $2,364.00 per month
Rent is payable in accordance with Article 5 of the Original Lease.
4. Confidentiality. Tenant agrees not to disclose the terms and conditions of this First
Amendment to any person or entity other than its attorney,including,but not limited to the
other tenants of the Building. Nothing contained in this section shall prevent Tenant from
producing this First Amendment in a legal proceeding if such production is legally required of
tenant, Tenant acknowledges and agrees that it shall be responsible to Landlord for any
damages Landlord may incur due to Tenant's breach of this section.
5. Base Year. Effective March 1,2012,the Base Year for the Lease shall be 2011.
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6. Improvements. Within ninety(90)days after full execution of this Lease Amendment,
Landlord shall repaint the existing Premises;and professionally steam clean the existing
carpeting,at Landlord's expense.
7. Conflict. If there is a conflict between the terms and conditions of this First Amendment and
the terms and conditions of the Lease,the terms and conditions of this First Amendment shall
control. Except as modified by this First Amendment,the terms and conditions of the Lease
shall remain in full force and effect. Capitalized terms included in this First Amendment shall
have the same meaning as capitalized terms in the Original Lease unless otherwise defined
herein.
8. Authority. The persons executing this First Amendment on behalf of the parties hereto
represent and warrant that they have the authority to execute this First Amendment on behalf
of said parties and that said parties have the authority to enter into this First Amendment.
9. Brokers. Landlord and Tenant acknowledge that Kidder Mathews is the only broker in this
Transaction,representing the Landlord in this negotiation. Tenant and Landlord each
represent and warrant to the other that neither has had any dealings or entered into any
agreements with any person,entity,broker or finder in connection with the negotiation of this
First Amendment,and no broker,person,or entity is entitled to any commission or finder's
fee in connection with the negotiation of this First Amendment,and Tenant and Landlord
each agree to indemnify,defend and hold the other harmless from and against any claims,
damages,costs,expenses,attorneys' fees or liability for compensation or charges which may
be claimed by any such broker,finder or other similar party of reason of any dealings,actions
or agreements of the indemnifying party.
10. Early Termination. Landlord and Tenant understand that Tenant's business is reliant upon
funding,which at this time is guaranteed through December 31,2013. In the unforeseeable
event,Tenant is unable to secure funding beyond this date;Tenant will have the option to
effect an early termination of the Lease,after December 31,2013,by providing Landlord with
a minimum of 120 days prior written notice. Further,Tenant shall repay to Landlord the
unamortized costs associated with this transaction,which shall total 1 month rent equaling the
amount of Rent being paid by the Tenant at the time notice is received by the Landlord. In
all cases,the lease shall terminate at the conclusion of the month following such one hundred
and twenty day(120)notice. For example,if Tenant provides notice of termination on March
10,2014,the Lease will terminate at the end of the month following such 120 day notice,in
this case,July 31,2014.
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IN WITNESS WHEREOF,the parties hereby execute this First Amendment as of the date first written.:.
above.
LANDLORD t;r`"I'll ..
The City of Renton,Washington,a Washington "t..
municipal corporation i,,
5.'�� 0201.2 Attest
Its: Denis Law, Mayor
Bonnie I . Walton, City Clerk
TENANT
Children's Home Society of WashiDgton Inc.,a Washington non-profit corporation
By' . 'ry U/
Its: President/CEO
By:
Its:
STATE OF )
COUNTY OF )
On 20 before me, a Notary Public in and
for the State of California,personally appeared personally known to me(or
proved to me on the basis of satisfactory evidence)to be the person(s)whose name(s)is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies),and that
by his/her/their signature(s)on the instrument the person(s),or the entity upon behalf of which the person(s)acted,
executed the instrument.
Witness my hand and official seal.
�� f Notary Public in and for said State
STATE OF y Ya�✓' 11l 1'�a�O 11 )
COUNTY OF t )
I certify that I know or have satisfactory evidence that I, J 6,r0 n V S�0 f n e-- is the
person who appeared before me on MOV ek 10 20.1;L ,and said person acknowledged that he/she signed this
instrument,on 04th stated that he/she was authorized to exec,�y�}te the instrument,and acknowledged it as the(title)
e end' C E d of(entity) ' �dt2n's tt0/he Soot 03 W4,a
0 i-f '"f to be the free and voluntary act of such party for the uses and purposes
mentioned in the instrument. n
Witness my hand and official seal this a��day of M anti 20
Ka-�Peen to ublic,.>
(Print Name) (77
Residing at t
My Commission Expires: —
STATE OF �t ) �'9j�4_2�
OF
COUNTY OF )
I certify that I know or have satisfactory evidence that is the
person who appeared before me on 20\:L.and said person acknowledged that he/she signed this
mstc nt,on oath stated that he/she was au orized to execute th trument,and acknowledged it as the(title)
(� of entity)
( , c)� a
to be the free and voluntary act of such party for the uses and purposes
mentioned in the instrdment.
Witness my hand and official seal thi)N� ay of 20
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