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LAG 05-73
Addendum #05-92
ADDENDUM TO LEASE AGREEMENT
(City of Renton to Puget Sound Power & Light Company)
THIS ADDENDUM to Lease Agreeme 2t LAG 05-73, is effective as of January
1, 1992 and entered into this /74 , day of /I2Q/te%i , 1992.
RECITALS:
WHEREAS, the City of Renton and the Lessee previously entered into Lease
Agreement 05-73 dated September 1, 1973, with a term of twenty (20) years
commencing on September 1, 1973 and terminating on September 1, 1993, for the lease
of 26,014.88 square feet of uninproved real estate in an "as is" condition, said Lease
establishing the monthly rental of One Hundered Fifty-One Dollars and Seventy-Five
Cents ($151.75), and
WHEREAS, the City of Renton and the Lessee agreed to and executed Addendum
01-79 dated May 2, 1979, which addendum extended the term of the Lease in
accordance with the terms of Paragraph 18 of the original Lease Agreement until
September 1, 1983, said Addendum establishing the monthly rental of One Hundred and
Fifty-Five Dollars and Two Cents ($155.02), computed at the annual rate of Eight and
One-Half Cents ($0.085) per square foot, and
WHEREAS, under the terms of Addendum 01-79 the City of Renton and the
Lessee also agreed that the square footage of the Lessee's property subject to the Lease
was, as of May 2, 1979, reduced from the 26,014.88 square feet leased by the Lessee in
the Lease Agreement 05-73 dated September 1, 1973, to a new total square footage of
21,884.95 square feet, and
WHEREAS, there is no Addendum 02 recorded, and
WHEREAS, the City of Renton and the Lessee agreed to and executed Addendum
03-83, which addendum extended the term of the Lease for the purpose of determining
current rental fee, under the provisions of Paragraph 18 of the original Lease
Agreement, until August 31, 1988, said Addendum establishing the monthly rental of
Two Hundred Fifty-Five Dolars and Thirty-Two Cents ($255.32), computed at the
annual rate of Fourteen Cents ($0.14) per square foot, and
WHEREAS, the City of Renton and the Lessee agreed to and executed Addendum
04-88 executed by the Mayor and City Clerk on January 28, 1988, which addendum
revised the Rental Renegotiation effective date to June 1, 1990, and
WHEREAS, on November 12, 1991, Puget Sound Power & Light agreed to a
rental rate increase establishing the monthly rental of Five Hundred Forty-Seven Dollars
and Twelve Cents ($547.12), computed at the annual rate of Thirty Cents ($0.30) per
square foot, said rental rate to be retroactive to the Rental Renegotiation Effective Date
of June 1, 1990, established by Addendum 04-88.
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NOW, THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND
BETWEEN THE CITY OF RENTON AND PUGET SOUND POWER & LIGHT
COMPANY AS FOLLOWS:
WITNESSETH:
1. The Lessor and Lessee do hereby agree to a rental rate of Five Hundred
Forty-Seven Dollars and Twelve Cents ($547.12), computed at the annual rate of Thirty
Cents ($0.30) per square foot, said rental rate to be retroactive to the Rental
Renegotiation Effective Date of June 1, 1990.
2. Lessor and Lessee do hereby agree that the annual rate of Thirty Cents
($0.30) per square foot shall remain in effect until September 1, 1993, the date of
termination of the Lessee's lease.
3. Lessor and Lessee do hereby agree that the minimum base rental for any lease
extension, new lease executed on or before the September 1, 1993 lease expiration date
or any other continuation of the lease as agreed by the parties, shall not be less than the
aforespecified rental of $547.12 per month.
4. The Lessor and Lessee do hereby agree that the square footage of the Lessee's
property subject to this lease is 21,884.95 square feet, the same constituting the square
footage as described by the legal description in Addendum 01-79.
5. All other terms and conditions of the original Lease Agreement shall remain
in full force and effect.
PUGET SOUND POWER & LIGHT COMPANY CITY OF RENTON
a Washington Corporation a Municipal Corporation
Nth
BY BY111, AJ
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Director Real Estate Mayor '
City ifar
Approved as to legal form
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City Attor"
Leasee
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