HomeMy WebLinkAboutAdden 1 CAG-99-124, Adden. #1-00
Amendment Number-T-vow one
To
MANAGEMENT/LEASING AGREEMENT
This Amendment Number Two dated August 14, 2000 between the City of Renton
hereinafter referred to as("Owner") and Martin Smith Inc, hereinafter referred to as
("Manager") is attached to and shall be a part of the Management/Leasing Agreement
between the Owner and Manager for the 200 Mill Avenue Building in Renton dated July
17, 2000, as previously amended(hereinafter referred to as the "Management
Agreement"). The parties agree hereto as follows:
TERM: Effective July 1, 2000, Manager shall assume the Management of the entire 4t'
Floor of New Renton City Hall and shall continue with the Leasing of a portion of the
second floor of New Renton City Hall located at 1055 South Grady Way in Renton,
Washington. A legal description of the property is attached hereto as Exhibit"A".
MANAGEMENT FEE: In addition to the other fees and reimbursements provided for in
the Management Agreement, Manager shall receive a flat fee in the amount of Seven
Hundred and Fifty Dollars ($750.00)per month to invoice and receive rents from the new
tenant on the fourth floor of the building—Arcus Data Security, and Manager shall
provide Owner with an Income Report each month to insure that all rents are received in
good order.
LEASING: Manager shall continue to provide leasing services to the building in
accordance with the Management Agreement and in accordance the Owners goals and
objectives for the property.
REPORTING: Owner shall prepare the annual budget including income and expense
projections. Manager shall provide monthly Income Variance Reports to Owner
summarizing the monthly income and variances from the 4h floor premises leased at New
Renton City Hall to Arcus Data Security.
MANAGEMENT OPERATIONS: Owner shall contract directly for all service
contracts and provide daily response services to tenants within the Building, unless
otherwise requested by Owner.
INSURANCE: The insurance coverage for 200 Mi11 Avenue shall extend and be
modified to include the New Renton City Hall for both Owner and Manager.
REAL ESTATE TAXES: Owner shall pay Real Estate Taxes directly from the
Property.
MORTGAGE PAYMENTS: Owner shall be directly responsible for all mortgage
payments.
All other terms and conditions of the Management Agreement shall apply to the New
Renton City Hall, and all other terms and conditions of the Management Agreement for
shall remain unchanged.
OWNER: MANAGER:
City:;on Martin S 'th
By: By:
Its: ayor Its:
Date: Date: ��t��o 0
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ATTEST.- .y✓
Marilyn St. Pe ersen, City Clerk