HomeMy WebLinkAboutAdden 6AMENDMENT 6-22 TO LEASE AGREEMENT
(City of Renton to Bosair, LLC)
LAG 12-004, Adden #6-22
THIS AMENDMENT ("Amendment") No. 5 to Lease Agreement LAG 12-004 is
effective as of the last date signed by the Parties below.
RECITALS:
WHEREAS, Bosair, LLC (hereinafter "Tenant") has a Lease Agreement with the
City of Renton (hereinafter "Landlord") (Tenant and Landlord are the "Parties"), LAG 12-
004, executed on October 1, 2012, and subsequently amended (LAG 12-004, together
with its amendments, is hereinafter the "Lease"); and
WHEREAS, pursuant to Appendices 1 and 2 to the Lease, the Parties have
anticipated that certain hangar extension work would be conducted by Tenant on the
Premises during the term of the Lease, and Tenant has recently begun a portion of such
work (hereinafter, such work is the "2021 Construction Work"), subject to applicable
review and approvals by Landlord which are being addressed separately from this
Amendment; and
WHERAS, bids obtained by Tenant for the 2021 Construction Work within the
expansion area in Exhibits 5-A and 5-B to Amendment 5-21 are 50% higher than
expected, due to unforeseen supply chain issues and price inflation related to materials
and labor; and
WHEREAS, Tenant remains committed to the 2021 Construction Work and
requests an additional 3-year extension to complete the development due to these
rising costs, allowing for a total of six additional years in the expansion area; and
WHEREAS, Landlord and Tenant are willing to amend the Lease to allow for
additional time to complete the 2021 Construction Work, via this Amendment, subject
to the terms set forth herein;
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 AS SET FORTH BELOW:
WITNESSETH:
1.Section 2 of Amendment 5-21 to LAG-12-004 is amended to read as follows:
Amendment No. 5 to Lease Agreement LAG 12-004
City of Renton to Bosair, LLC
1
11-1-2022Approved by Alex Tuttle via 7/22/2022 email