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PLANE SPACE, INC LAG-84-006, Adden. #3-93
300 AIRPORT WAY
RENTON, WA 98055
THIS LEASE (THE "LEASE")IS MADE AND ENTERED INTO THIS 4917-
DAY
97DAY OF ifi ' , 1993 BY AND BETWEEN PLANE SPACE
INVESTMENTS (PLANE SPACE) AND PUGET SOUND SEAPLANES (PSS).
1. PROPERTY. PLANE SPACE INVESTMENTS IS THE LESSEE OF CERTAIN
PREMISES AND THE IMPROVEMENTS LOCATED THEREON COMPRISING A
HANGAR AND OFFICE OF APPROXIMATELY 20,000 SQUARE FEET LOCATED AT
300 AIRPORT WAY, RENTON. (THE "PROPERTY").
2. LEASED SPACE. PLANE SPACE INVESTMENTS HEREBY SUBLEASES
TO PSS THAT PORTION OF THE PROPERTY (THE "PREMISES") CONSISTING OF
APPROXIMATELY 400 SQUARE FEET OF DEDICATED OFFICE SPACE AND 2000
SQUARE FEET OF NON DEDICATED LOBBY SPACE.
3. TERM. THIS AGREEMENT SHALL COMMENCE MAY 1, 1993
AND SHALL EXTEND THROUGH MAY 1, 1994. PLANE SPACE MAY TERMINATE
THIS AGREEMENT UPON THIRY (30) DAYS PRIOR WRITTEN NOTICE.
4. RENT. THE RENT DUE FROM AIRPAC UNDER THIS AGREEMENT FOR
THE PREMISES SHALL BE $500 PER MONTH FOR THE PREMISES , PAYABLE IN
ADVANCE. ON THE FIRST DAY OF EACH MONTH AND NO LATER THEN THE 5TH
DAY OF EACH MONTH, BEGINNING MAY 1,1993. THE AMOUNT OF RENT MAY
BE CHANGED FROM TIME TO TIME BY PLANE SPACE INVESTMENTS UPON
THIRTY (30) DAYS PRIOR WRITTEN NOTICE TO PSS.
5. UTILITIES AND MAINTENANCE. PLANE SPACE SHALL PROVIDE
HEAT, LIGHT, WATER AND ELECTRICITY. IT SHALL BE THE RESPONSIBILITY
OF PSS TO MAINTAIN ITS PORTIONS OF THE PREMISES IN A GOOD, SAFE, AND
CLEAN CONDITION CONSISTENT WITH STANDARD BUSINESS PRACTICES.
6. INSURANCE
(A) PSS AGREES TO MAINTAIN IN EFFECT AT ALL TIMES
DURING THE TERM OF THIS SUBLEASE, COMPREHENSIVE PUBLIC
LIABILITY AND PROPERTY DAMAGE INSURANCE WITH A LIMIT
OF NOT LESS THAN FIVE MILLION DOLLARS.
(B+ ALL INSURANCE POLICIES REQUIRED UNDER SUBPARTS (A)
OF THIS PROVISION SHALL NAME PLANE SPACE INVESTMENTS
AS ADDITIONAL INSURED THEREUNDER. PSS SHALL FURNISH
PLANE SPACE INVESTMENTS WITH A CERTIFICATE OF
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INSURANCE ON INDICATING THAT SUCH INSURANCE IS IN FULL
FORCE AND EFFECT AND THAT THE POLICY MAY NOT BE
CANCELLED OR NONRENEWED UNLESS (30) DAYS PRIOR
WRITTEN NOTICE OF THE PROPOSED CANCELLATION HAS
BEEN PROVIDED TO PLANE SPACE INVESTMENTS.
(C) PSS AGREES TO DEFEND AND HOLD PLANE SPACE
INVESTMENTS AND ITS AGENTS HARMLESS FROM ANY CLAIM,
ACTION, AND/OR JUDGEMENT FOR DAMAGES TO PROPERTY OR
INJURY TO PERSONS SUFFERED ON THE LEASED PREMISES BY
ANY PERSON, FIRM OR CORPORATION AS A RESULT OF ACTS OR .
OMMISSIONS TO ACT OF PSS, ITS EMPLOYEES, AGENTS, AND
INVITEES. PLANE SPACE INVESTMENTS AGREES TO DEFEND
AND HOLD AIRPAC AND ITS AGENTS HARMLESS FROM ANY
CLAIM, ACTION, AND/OR JUDGEMENT FOR DAMAGES TO
PROPERTY OR INJURY TO PERSONS SUFFERED ON THE LEASED
PREMISES BY ANY PERSON, FIRM OR CORPORATION, AS A
RESULT OF ACTS OR OMISSIONS TO ACT OF PLANE SPACE
INVESTMENTS, ITS EMPLOYEES, AGENTS AND INVITEES.
(D) PLANE SPACE INVESTMENTS SHALL NOT BE LIABLE TO
PSS FOR ANY DAMAGES TO PSS OR ITS AGENTS, EMPLOYEES OR
INVITEES, CAUSED BY DEFECTS NOW EXISTING IN THE LEASED
PREMISES OR HEREAFTER OCCURRING THEREIN, OR DUE TO
THE BUILDING IN WHICH THE LEASED PREMISES ARE
SITUATED UNLESS SAID DEFECTS, DISREPAIR OR OTHER
CONDITION RESULTS FROM PLANE SPACE INVESTMENTS
NEGLIGENCE. PSS AGREES TO PROMPTLY PAY FOR ALL
REPAIRS OR DAMAGES TO THE LEASED PREMISES CAUSED BY
PSS, ITS EMPLOYEES, AGENTS OR INVITEES.
7. CONDITION OF LEASED PREMISES. PSS ACKNOWLEDGES THAT IT
HAS INSPECTED THE LEASED PREMISES AND ACCEPTS THE LEASED PREMISES
IN THEIR PRESENT CONDITION. UPON TERMINATION OF THIS SUBLEASE, PSS
AGREES TO LEAVE THE LEASED PREMISES IN GOOD ORDER AND CONDITION,
EXCEPTING ORDINARY WEAR AND TEAR.
8. USE. PSS AGREES TO USE THE LEASED PREMISES FOR LEGAL
PURPOSES ONLY. PSS AGREES THAT IT IS SUBLEASING AND SHALL USE THE
LEASED PREMISES FOR THE SOLE PURPOSE OF CONDUCTING ITS
TRADITIONAL SEAPLANE SERVICE.
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9. TAXES. DURING THE TERM OF THIS SUBLEASE, PSS SHALL PAY ALL
TAXES ON ANY BUSINESS OF PSS CONDUCTED FROM OR ON THE LEASED
PREMISES, AS WELL AS ANY TAXES ON ANY PERSONAL PROPERTY OF PSS
LEFT OR MAINTAINED ON THE LEASED PROPERTY.
10. NOTICES. ALL NOTICES REQUIRED OR ALLOWED HEREUNDER
SHALL BE SENT BY FIRST CLASS CERTIFIED UNITED STATES MAIL, RETURN
RECEIPT REQUESTED. POSTAGE PREPAID. TO THE ADDRESSES LISTED BELOW
EACH PARTY'S SIGNATURE. NOTICE SHALL BE DEEMED DELIVERED UPON
RECEIPT.
11. ASSIGNMENT; SUBLEASING. PSS SHALL NOT HAVE ANY RIGHT TO
SUBLEASE ALL OR ANY PORTION OF THE LEASED PREMISES TO ANY OTHER
PARTY WITHOUTH PLANE SPACE INVESTMENTS WRITTEN CONSENT.
13. MISCELLANEOUS. THIS SUBLEASE SHALL BE CONSTRUCTED UNDER
THE LAWS OF THE STATE OF WASHINGTON, WITH EXCLUSIVE JURISDICTION
AND VENUE TO BE IN THE SUPERIOR COURT FOR KING COUNTY, WASHINGTON
WITH RESPECT TO ANY LITIGATION ARISING IN CONNECTION HEREWITH.
THIS SUBLEASE CONTAINS THE ENTIRE UNDERSTANDING BETWEEN THE
PARTIES AND MAY NOT BE AMENED EXCEPT IN WRITING SIGNED BY BOTH
PARTIES. IN THE EVENT OF ANY DISPUTE OR LITIGATION ARISING
HEREUNDER, THE PREVAILING PARTY SHALL, IN ADDITION TO ANY OTHER
RELIEF, BE ENTITLED TO RECOVER FROM THE OTHER PARTY REASONABLE
ATTORNEY'S FEES AND COSTS.
14. QUIET ENJOYMENT. PLANE SPACE INVESTMENTS COVENANTS
AND AGREES THAT AIRPAC, DURING THE TERM HEREOF, ON PERFORMING ITS
OBLIGATIONS HEREUNDER, SHALL FREELY, PEACEFULLY AND QUIETLY
OCCUPY AND ENJOY THE USE OF POSSESSION OF THE SUBLEASED PREMISES
WITHOUT DISTURBANCE, MOLESTATION, HINDRANCE, OR EJECTION OF ANY
KIND WHATSOEVER.
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IN WITNESS WHEREOF, THIS SUBLEASE IS EXECUTED IN DUPLICATE THE DAY
AND YEAR FIRST ABOVE WRITTEN.
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