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Amendment 05-18
AMENDMENT TO BUILDING LEASE AGREEMENT
City of Renton to Landing Gear Works, LLC
THIS AMENDMENT No. 5 to Lease Agreement LAG 13-005 is entered into as of
___________ _, by the City of Renton, a Municipal Corporation
(Landlord) and Landing Gear Works, a limited liability company (Tenant) and amends
that certain lease agreement LAG 13-005 dated September 1, 2013.
RECITALS:
WHEREAS, the Tenant is currently leasing the first floor of the building located at
295 East Perimeter Road {295 building), consisting of 10,204 square feet under Lease
LAG 13-005 and Amendments 1, 2, 3 & 4 thereto (collectively, the Lease), which lease is
currently scheduled to terminate on August 31, 2018; and
WHEREAS, the Landlord anticipates that demolition of the 295 building might be
necessary pursuant to an Airport Master Plan Update; and
WHEREAS, the Landlord is willing to continue leasing the 295 building on a
month-to-month basis for no longer than one additional year because the requirement
to demolish the 295 building is not yet certain; and
WHEREAS, the Landlord is willing to give 90-days' notice to Tenant to move out if
the Landlord wishes to terminate the month to month lease before one year;
NOW, THEREFORE, IN CONSIDERATION OF THE TERMS AND CONDITIONS
HEREIN CONTAINED AND FOR OTHER GOOD AND VALUABLE CONSIDERATION, THE
RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, LANDLORD AND
TENANT AGREE TO AMEND THE LEASE, LAG 13-005 AS AMENDED, AS SET FORTH
BELOW:
WITNESSETH:
1.The Landlord and Tenant do hereby agree to amend Section 3.c. Additional Term
(which section was added in Amendment No. 2 to the Lease) to read as follows:
"After the Extended Term, continued tenancy by Landing Gear Works, LLC., will be
on a month-to-month basis for a period ending no later than August 31, 2019. Under
no circumstances will Tenant be authorized to extend its tenancy beyond August 31,
2019. If Landlord wishes to terminate the tenancy before August 31, 2019, Landlord
Lease Agreement LAG 13-005
City of Renton to Landing Gear Works LLC
Not signed