HomeMy WebLinkAboutAdden 11 vow N,sire
LAG 006-84
Addendum# 11-0 5
ADDENDUM TO LEASE AGREEMENT
(City of Renton to South Cove Ventures, LLC, dba Aero Dyne Aviation)
THIS ADDENDUM to Lease Agreement 006-84 is effective as of the date of execution
by the City of Renton, as indicated on the last page of this addendum.
RECITALS:
WHEREAS, on September 1, 1984, Plane Space Investments, Inc. entered into Lease
Agreement LAG 006-84, and leased four contiguous parcels at the south end of the Airport,
consisting of three unimproved parcels of 39,030 square feet, referred to as the Vehicle Parking
Lot, East Tiedown Area and West Tiedown Area, and one improved parcel of 42,936 square feet
consisting of an existing hangar building, and
WHEREAS, on September 2, 1994, Plane Space Investments assigned Lease LAG 006-
84, in its entirety, to Puget Sound Industries, Inc., and
WHEREAS, on March 25, 1997, Puget Sound Industries assigned Lease LAG 006-84, in
its entirety, to Cliff Howard and Fred Bahr, and
WHEREAS, on April 29, 1999, Cliff Howard and Fred Bahr assigned Lease LAG 006-84,
in its entirety, to South Cove Ventures, LLC, and
WHEREAS, Southcove Ventures, LLC leases four adjacent parcels, totaling 81,966 square
feet, and
WHEREAS, post-September 11, 2001, security measures required that the City replace the
airport perimeter fencing and install automated gates at specific locations around the airport, and
WHEREAS, one of the areas identified for improvement was the fencing and the then-
existing electric gate bordering South Cove Ventures' two of the three unimproved parcels,
which included the West Side Tiedown Area and East Tiedown Area, and
WHEREAS, the City requires a separation between the adjacent taxilane and the West
Side Tiedown Area and East Tiedown Area to allow for taxiing aircraft along the taxilane, and
WHEREAS, as a result of the relocation of the fencing and replacement of the electric
gate, the two unimproved parcels were combined to create a new unimproved parcel of 35,146
square feet, and
WHEREAS, the South Cove Ventures' newly created parcel and existing vehicle parking
lot square footage has been increased to a total unimproved leased area of 43,585 square feet, and
an improved leased area of 42,936 square feet, for a total leased area of 86,521 square feet, and
ORIGINAL
Niue 'vire
LAG 006-84
Addendum# 11-05
WHEREAS, the City is requiring South Cove Ventures to create and maintain three
transient aircraft tiedown spaces within their newly created unimproved parcel.
NOW, THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND
BETWEEN THE CITY OF RENTON AND SOUTH COVE VENTURES, LLC,AS
FOLLOWS:
WITNESSETH:
1. Lessor and Lessee do hereby agree to amend Paragraph 1 of South Cove Ventures' lease,
LAG 006-84, to increase its unimproved leased area by 4,555 square feet, for a total
unimproved ground lease area of 43,585 square feet (39,030 + 4,555 =43,585), identified
in Exhibit A; and
2. Lessor and Lessee do hereby agree that Exhibit A, Legal Description, attached hereto, is
made a part hereof; and
3. Lessor and Lessee do hereby agree to an annual unimproved land rent of$7,152.30
(43,585 x $0.1641 =$7,152.30) for the 43,585 square feet of unimproved land identified
in Exhibit A; and
4. Lessor and Lessee do hereby agree that Lessee will designate,within South Cove
Ventures' unimproved leased area, three parking spaces to be used for transient aircraft
parking; and
5. Lessor and Lessee do hereby agree that Lessee will mark each designated transient
aircraft parking space with traffic-yellow painted squares and maintain these three
designated transient parking spaces at no cost to the City; and
6. Lessor and Lessee do hereby agree that Lessee will provide the transient aircraft parking
spaces to the flying public in a manner consistent with current Airport transient aircraft
parking practices.
7. All other terms and conditions of the original Lease Agreement shall remain in full force
and effect.
Lease Agreement 006-84 2
City of Renton to
South Cove Ventures,dba Aero Dyne Aviation
'toe Noe
LAG 006-84
Addendum# 11-05
SOUTHCOVE VENTURES, LLC CITY OF RENTON
dba AERO DYNE AVIATION a Municipal Corporation
a Washington Corporation
## // 164t61
Mayor athy Keolker-Wheeler
1(viA2-0(' 80i142cZ4f. Le} 1±1
Title Bonnie Walton, City Clerk
io-ar�aoas'
Date
Approved as to legal form:
Orier
H:\AIR\Admin\Real Property Management\Leases and Op permits\Aerodyne\Leases\006-84 Add 11-05.doc
Lease Agreement 006-84 3
City of Renton to
South Cove Ventures,dba Aero Dyne Aviation
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