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HomeMy WebLinkAbout5457 RESOLUTION NO 5 4 5 7 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, AUTHORIZING THE MAYOR TO EXECUTE AMENDMENTS TO SEVEN SEPARATE LAND LEASES RELATED TO HANGERS LOCATED ON THE AUBURN MUNICIPAL AIRPORT WHEREAS, The City of Auburn has entered into seven different land leases over the last several years for land located on the Auburn Municipal Airport; and WHEREAS, Each of the land leases contains a Fair Market Valuation (FMV) rental rate escalation clause set in five year increments from the date each lease commenced; and WHEREAS, Each of the tenants has been operating unofficially on the same FMV cycle regardless of the date of lease commencement; and WHEREAS, The City and the tenants each wish to formalize the current date of the FMV cycle so the leases are aligned. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, HEREBY RESOLVES as follows: Section 1. That the Mayor is authorized to execute lease amendments to each of the seveh Airport land leases provided that each amendment is in substantial conformity to the respective exhibit, attached as Exhibit "A" , "B," "C," "D," "E," "F," and "G". Section 2. That the Mayor is authorized to implement such administrative procedures as may be necessary to carry out the directives of this legislation. Section 3. That this Resolution shall take effect and be in full force upon passage and signatures hereon. Resolution No 5457. September 16, 2019 Page 1 of 2 Dated and Signed: October 7, 2019 CITY OF AUBURN N NCY KUS, MAYOR ATTEST: . � Shawn Campbell, MMC, City Clerk APPROVED AS TO FORM: Steven L. Gross, City Attorney Resolution No 5457. September 16, 2019 Page 2 of 2 EXHIBIT A CITY OF AUBURN / CASCADE HELICOPTER SERVICES (SIXTH AMENDMENT) COVER SHEET SIXTH AMENDMENT TO THE LEASE AGREEMENT INITIALLY BETWEEN SKY SERVICES,INC.,THEN AUBURN FLIGHT SERVICES AND CURRENTLY SPAROW TANG,DBA CASCADE HELICOPTER SERVICES AND THE CITY OF AUBURN THIS AMENDMENT is made and entered into this 6 day of Sep,LP r,-l6cr , 2019, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(hereinafter referred to as the"CITY"), and Sparrow Tang, DBA Cascade Helicopter Services, successor of Sky Services and Auburn Flight Services (hereinafter referred to as Lessee), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport")dated the 27th day of February, 1978. WITNESSETH: WHEREAS,the City entered into a Fixed Base Lease with Sky Services for aviation related use of property at the Auburn Municipal Airport,authorized under Resolution 866; and WHEREAS, Sky Services has been succeeded by Auburn Flight Services and currently Cascade Helicopter Services; and WHEREAS, The Lease Agreement has been previously been amended five times, authorized under Resolutions 893, 2003, 3065, 3181 & 5144; and WHEREAS, both parties desire to extend the Lease for the 50 year renewal term that was established in Amendment V of the Lease although Lessee failed to provide timely written notice of such desire as required by Section 31 of the Lease; and WHEREAS, Sections 6 of the Lease Agreement as amended in Section 3 of Amendment II provides for rent adjustments of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: Section 4 "Term" of the Lease is amended as follows: The initial term of this Lease shall be for a period of forty(40)years, commencing on the 1st day of June, 1978 and terminating on the 31'day of May, 2018. Upon expiration,the term is extended an additional fifty(50)years from that date. Section 3 of Amendment II as it replaces in its entirety Section 6 of the Original Lease Agreement is replaced in its entirety with the following: 6. Rental Rate and Rate Adjustment Sixth Amendment to Lease Agreement between COA& Sky Services, Inc. Original Lease approved under Resolution NO. 866 (a). The Monthly Base Rent will be adjusted on June 1 of every calendar year ending in a"2"or "7"during the term of this lease by a multiplier equal to the change in the Price Index (PI) pursuant to the procedure set forth in Section 6(c)below with the first PI adjustment commencing June 1, 2022.Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five(5)years, commencing on January 1, 2025,to equal the"fair market rental value" (FMV)of Auburn Airport land, pursuant to the procedure set forth in Section 6(d)below. (b). Definitions: The adjusted Monthly Base Rent will be determined in accordance with the formula set for in Section 6(c)below. In applying the formula,the following definitions apply: (1) "Bureau"means the U.S. Department of Labor, Bureau of Labor Statistics or any successor agency. (2) "Price Index"means the Consumer Price Index for the month of February for all Urban Consumers, All Items(Seattle-Tacoma-Bellevue) issued from time to time by the Bureau, or any other measure hereafter employed by the Bureau in lieu of the price index that measures the cost of living or if said Bureau should cease to issue such indices and any other agency of the United States should perform substantially the same function,then the indices issued by such other agency. (c.). The adjusted Monthly Base Rent shall be determined by multiplying the Monthly Base Rent being adjusted by a multiplier equal to the cumulative change in the Price Index over the previous 24 months ending in February of the adjustment year, computed as follows: (Cumulative percentage change in Price Index over previous 24 months ending in February)x (current Monthly Base Rent)=(Adjusted Monthly Base Rent) (d). Each five(5)years, commencing on January 1, 2025,the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 6(b)& (c)will not be applied each such fifth (5th)year. Lessor may, at its discretion, utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment.Additionally,this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense, retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful,the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals, but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration,the determined rental rate will be made retroactive to January 1 of the current FMV cycle. Sixth Amendment to Lease Agreement between COA& Sky Services, Inc. Original Lease approved under Resolution NO. 866 [SIGNATURES ON THE FOLLOWING PAGES] Sixth Amendment to Lease Agreement between COA&Sky Services, Inc. Original Lease approved under Resolution NO.866 Dated and Signed on this c day of S ep , 2019 Sparrow Tang DBA Cascade Helicopter Services �- ceo Na e: Title: A notary public or other officer completing this certificate verifies only the identity of at -Pb Mick the individual who signed the document to STATE OF which this certificate is attached,and not the truthfulness,accuracy,or validity of ss. that document. County of (f ) The undersigned Notary Public hereby certifies: Thal on this 6 day of ep -ew�.kr 20 �d ,personally appeared before me Spa c'FaVV ( (name), (title),to me known to be thd individual(s4 described in and who executed the within instrument, and acknowledged that he/she-signed and sealed the same as his/her-free and voluntary act and deed, for the purposes and uses therein mentioned,-ani-en. - • . . . . . • •-i-zed-to-ex to saiddoourt nt-on-behalf of- 1,✓�/'�� In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. $a'4' ME WY R 7-1 NOTARY PUBLIC-CALIFORNIA 'n I $ISKIYOUCOUNTY — N.tary Publ. ' and for .e State of - , F °� MY COMM.EXP.MAR.9,sots Residin: •t 3(S J ���r` w 11f My co mission expires M0 Sixth Amendment to Lease Agreement between COA&Sky Services, Inc. Original Lease approved under Resolution NO. 866 Dated and Signed on this�'�`�- day of , 2019 City of Auburn yor: Nanc ackus Approved as to form. City Attorney: Steven L. ross STATE OF WASHINGTON ) ss. County of ,c ) The undersigned Notary Public hereby certifies: That on this,'. day of Zc' , 20 \C\, personally appeared before me c\Q,.e\c___y (name), (title),to me known to be the individual(s)described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. C A106, 1!,, g201AR). Otto Notary Public in and for the State of Washington, " Residin at O ; EXHIBIT B CITY OF AUBURN / AUBURN FLYERS CONDO I (FIRST AMENDMENT) COVER SHEET FIRST AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS, LLC. THIS AMENDMENT is made and entered into this \ day of 2019, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington (hereinafter referred to as the"CITY"), and Auburn Flyers Condo I (hereinafter referred to as Lessee), as an addendum to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport") executed on the 17th day of June, 2002. WITNESSETH: WHEREAS, the City of Auburn ("CITY"), and NW Hangars, LLC. ("Lessee") entered into a Lease Agreement dated June 17, 2002, recorded with the Auditor of King County, Washington, under Auditor's File No. 20021212002550 on the 12`h day of December, 2002; and WHEREAS, Pursuant to Paragraph 12 of the Lease Agreement between Lessee and the CITY, Northwest Hangars LLC had the right to create a Condominium Association which was created and recorded with the Auditor of King County, Washington, under Auditor's File No. 20021212000129; and WHEREAS, Pursuant to Paragraph 12(b) of the Lease Agreement between NW Hangars LLC and the CITY, the Lease was automatically assigned to the Auburn Flyers Condo I ("AFC I") for the assumption of all responsibilities under this Lease Agreement; and WHEREAS, Sections 5(a).and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV) of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: 1) Paragraph 5(a) is replaced in its entirety with the following: • Monthly Base Rent will adjust on January 1, of every year beginning January 1, 2004 during the lease term, per this Section 5. Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five (5) years, commencing on January 1, 2020, to equal the "fair market rental value" (FMV) of Auburn Airport land, pursuant to the procedure set forth in Section 5(d)below. No such adjustment, however will reduce the amount of Monthly Base Rent below the amount of the respective Monthly Base Rent that is being adjusted. 2) Paragraph 5(d) is replaced in its entirety with the following: • Each five (5) years, commencing on January 1, 2020,the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain First Amendment to Lease Agreement between COA & NW Hangars, LLC. Original Lease approved under Resolution NO. 3484 r and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 5(b) & (c) will not be applied each such fifth(5th) year. Lessor may, at its discretion, utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment. Additionally, this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense,retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful, the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals,but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration, the determined rental rate will be made retroactive to January 1 of the current FMV cycle. [SIGNTURES ON THE FOLLOWING PAGES] First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3484 Dated and Signed on this J 4-4 day of /` %_ , 2019 Auburn Flyers Condo I .8 :::24t,\_____, v osti/t . __.404011,Name: Title: 1 STATE OF WASHINGTON ) ss. County of If-ffM:" ) The undersigned Notary Public hereby certifies: Th on this lay of :J� , 20 , pe sonal y appeared before me r (naphe), •F i, 4 ,,, !A ' (tit tomjo ewn o Ye the individual(s) described in and who execut-• the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oa stated that h she was duly authorized to execute said document on behalf of Odra COAV In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. DAVID OKEEFE ; Notary Public Notary if i lc in n for the State of Washington,ington, State of Washington My Appointment Expires Residing at CO . Aug 28,2021 My commission expires AV) r O2- First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3484 City of Auburn a ayor: N, i.�' :ackus Approved as to form: City Attorney: Steven L. Gro s STATE OF WASHINGTON ) ss. County of \-.-, ) The undersigned Notary Public hereby certifies: That on this—t=day ofc_k���, 20 \cam, personally appeared before me ��.,-\_Gk_.\ cam_ c �k_,5 (name), \J--,, ,� (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath`stated that he/she was duly authorized to execute said document on behalf of L`,kL S=..,„.\mow,r . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. AMPe ����'I GR,, �,� ____- -,,,-....„_.—..,:._N..„ Com.,,,,,�� Z_'o,�0N EXP41 ,,,,� ,, Notary Public in and for the State of Washington, • 3 .y},�PRr s O Residing at o,r�.� ��`l� z o �' u - ►- % My commission expires -\/ oc,j a,'c' S N y�`3 P u e`'ep=c 9 1gilt"'/TE han%%%%%%%%%%%% g gift"'/`E`Of\Sp' -:� ssN First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3484 EXHIBIT C CITY OF AUBURN / AUBURN FLYERS CONDO II (FIRST AMENDMENT) COVER SHEET FIRST AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into this 13 rt-day day of Av fC--- 2019, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(hereinafter referred to as the"CITY"), and Auburn Flyers Condo II (hereinafter referred to as Lessee), as an addendum to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") dated the 23rd day of January, 2004. WITNESSETH: WHEREAS, the City of Auburn, and NW Hangars, LLC. entered into a Lease Agreement dated January 23, 2004, recorded with the Auditor of King County, Washington, under Auditor's File No. 20040202001780 on the 2nd day of February, 2004; and WHEREAS, Pursuant to Paragraph 12 of the Lease Agreement between Lessee and the CITY, Northwest Hangars LLC had the right to create a Condominium Association which was created and recorded with the Auditor of King County, Washington, under Auditor's File No. 20040202002409; and WHEREAS, Pursuant to Paragraph 12(b) of the Lease Agreement between Northwest Hangars LLC and the CITY, the Lease was automatically assigned to the Auburn Flyers Condo II ("AFC II") for the assumption of all responsibilities under this Lease Agreement; and WHEREAS, Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV) of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: 1) Paragraph 5(a) is replaced in its entirety with the following: • Monthly Base Rent will adjust on January 1, of every year beginning January 1, 2004 during the lease term, per this Section 5. Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five (5) years, commencing on January 1, 2020, to equal the "fair market rental value" (FMV) of Auburn Airport land, pursuant to the procedure set forth in Section 5(d)below. No such adjustment,however will reduce the amount of Monthly Base Rent below the amount of the respective Monthly Base Rent that is being adjusted. 2) Paragraph 5(d) is replaced in its entirety with the following: • Each five(5) years, commencing on January 1, 2020, the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3681 M. and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 5(b) & (c) will not be applied each such fifth(5th) year. Lessor may, at its discretion,utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment. Additionally, this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense, retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful, the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals,but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration, the determined rental rate will be made retroactive to January 1 of the current FMV cycle. [SIGNATURES ON THE FOLLOWING PAGES] First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3681 Dated and Signed on this I ? day of q u V , 2019 Auburn Flyers Condo II 4 116(44 VAASA-- Name: 411 Title: STATE OF WASHINGTON ) ss. County of ‹8 The undersigned Notary Public hereby certifies: That on this I ell day of GI.uretSf 20 I' , personally appeared before me Di Xc l U.-A rm:9 ' w•:x, -h (name), -�rcolgU•rriV (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of kri4oIMrr► toYSerrwito . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. NOM%‘11111 4°04 k 80 lit 44411.4t4A- - grz-e,tete..) ,tPa4A,,� e i� Notary Public in and for the State of Washington, 4oT l' Residing at it .. . � cj"I My commission expires /0 - 111„WASN`\\`�� First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3681 .•- City of Auburn r . sio I, ayor: Nal.. :ackus Approved as to form: City Attorney: Steven L. Gross STATE OF WASHINGTON ) ss. County of .--c.N ) The undersigned Notary Public hereby certifies: That on this"\ - day of ,,a,-,\N_,__, 20 \ , personally appeared before me .�„ ,_�\I. (name), �� ,�,--._ (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. r„„,. \,,‘‘‘ '///i Cc._ �_�oa RyRFs''%,,1... ,, Notary Public in and for the State of Washington, .y t * O Z=g o . r 5 Residing at Th-,,„,,, Lc.,�� ;%% 0 ��^,= 2 .. My commission expires �\-\j ockj a_o�a ,y PO _•__ .r . a o .- CQ = ////i', E ```- First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3681 EXHIBIT D CITY OF AUBURN / AUBURN FLYERS CONDO III (FIRST AMENDMENT) COVER SHEET FIRST AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into this`\ day of 2019,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(hereinafter referred to as the"CITY"), and Auburn Flyers Condo III (hereinafter referred to as Lessee), as an addendum to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport") dated the 14TH day of September, 2005. WITNESSETH: WHEREAS, the City of Auburn, and NW Hangars, LLC. entered into a Lease Agreement dated September 14, 2005, recorded with the Auditor of King County, Washington, under Auditor's File No. 20060724001167 on the 24th day of July, 2006; and WHEREAS, Pursuant to Paragraph 13 of the Lease Agreement between Lessee and the CITY, Northwest Hangars LLC had the right to create a Condominium Association which was created and recorded with the Auditor of King County, Washington, under Auditor's File No. 20060724001166; and WHEREAS, Pursuant to Paragraph 13(b) of the Lease Agreement between NW Hangars LLC and the CITY, the Lease was automatically assigned to the Auburn Flyers Condo III ("AFC III") for the assumption of all responsibilities under this Lease Agreement; and WHEREAS, Sections 6(a) and 6(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value"(FMV) of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: 1) Paragraph 6(a) is replaced in its entirety with the following: • Monthly Base Rent will adjust on January 1, of every year beginning January 1, 2007 during the lease term,per this Section 6. Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five(5) years, commencing on January 1, 2020, to equal the "fair market rental value"(FMV) of Auburn Airport land, pursuant to the procedure set forth in Section 6(d)below. No such adjustment,however will reduce the amount of Monthly Base Rent below the amount of the respective Monthly Base Rent that is being adjusted. 2) Paragraph 6(d) is replaced in its entirety with the following: • Each five(5) years, commencing on January 1, 2020, the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3894 and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 6(b) & (c) will not be applied each such fifth(5th) year. Lessor may, at its discretion,utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment. Additionally, this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense,retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful, the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals,but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration, the determined rental rate will be made retroactive to January 1 of the current FMV cycle. [SIGNATURES ON THE FOLLOWING PAGES] First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3894 Dated and Signed on this f.R.'+11 day of L„Li , 2019 t , Auburn Flyers Condo III x....%....; ilar7 i Name: Title: i C---j\i-a-4.4.Ae i _../ STATE OF WASHINGTON ) ) ss. C County of 70fSaN ) The undersigned Notary Public herby certifi : That on this 1 2-day of IV , persona appeared before me /�, th 20 11, P Y pp �[� 4 �� (na e), c 'r (title), to me known e the individual(s) described in and who execut d the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on ) v1fj%1.xE, stated that he/she wa duly authorized to execute said document on behalf of th ftjQ'- In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. 1 DAVID OKEEFE ' Notary Public Notary wic n a for the State of Washington, State of Washington esiding atoZy-fiefc CD My Appointment Expires 1 Aug28,2021 (/lycommission expires CI In, a • First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3894 City of Auburn yor: Na :ackus Approved .! ,v . y ��`• � : ` � City Attorney: S -yen L. Gross STATE OF WASHINGTON ) ) ss. County of V, , ,,c.,\ ) The undersigned Notary Public hereby certifies: That on this—0"-- day of ,._,>,� ,,_... , 20 \c,, personally appeared before me .c __Q ,,, �,..s_c__Al_.,., (name), ����a-. (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. \\\. Ns\\\"""%'I Q3ELL I'll, —���,�, Cc ' -S- 1 �P s?%Res ''rt►,,�V �i, Notary Public in and for the State of Washington, k7.1: Z I V? sf o y Residing at o,,\ \ \L-- z 50 ° cv_.s i f. My commission expires .j '-c-k/_,, ,a_, iii,, S\A\E- y, First Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3894 EXHIBIT E CITY OF AUBURN / AUBURN HANGARS OWNERS ASSOCIATION (SECOND AMENDMENT) COVER SHEET SECOND AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND HU,INC. THIS AMENDMENT is made and entered into thi"s"-N-35— day of 2019,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington (hereinafter referred to as the "CITY"), and Auburn Hangars Owners Association (hereinafter referred to as Lessee), as an addendum to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") dates the 14th day of September, 2001. WITNESSETH: WHEREAS, the City of Auburn, and HU, Inc., doing business as Hangars Unlimited ("HU") entered into a Lease Agreement dated September 14, 2001, a memorandum of which was recorded with the Auditor of King County,Washington,under Auditor's File No 20030512000474 on the 12th day of May, 2003; and WHEREAS, Pursuant to Paragraph 12 of the Lease Agreement between HU, Inc. and the CITY, HU, Inc. had the right to create a Condominium Association which was created and recorded with the Auditor of King County, Washington, under Auditor's File No. 20030416002595; and WHEREAS, Pursuant to Paragraph 12(b) of the Lease Agreement between HU, Inc. and the CITY, the Lease was automatically assigned to the Auburn Hangars Owners Association for the assumption of all responsibilities under this Lease Agreement; and WHEREAS,The Lease Agreement was previously amended on April 23, 2002; and WHEREAS, Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value"(FMV)of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: 1) Paragraph 5(a)is replaced in its entirety with the following: • Monthly Base Rent will adjust on January 1, of every year beginning January 1, 2003 during the lease term,per this Section 5. Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five(5) years, commencing on January 1, 2020, to equal the "fair market rental value" (FMV) of Auburn Airport land,pursuant to the procedure set forth in Section 5(d)below.No such adjustment, however will reduce the amount of Monthly Base Rent below the amount of the respective Monthly Base Rent that is being adjusted. Second Amendment to Lease Agreement between COA & HU, Inc. Original Lease approved under Resolution NO. 3364 2) Paragraph 5(d)is replaced in its entirety with the following: • Each five(5) years, commencing on January 1, 2020,the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 5(b)&(c) will not be applied each such fifth(5th) year. Lessor may, at its discretion,utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment. Additionally, this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense,retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful, the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals,but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration, the determined rental rate will be made retroactive to January 1 of the current FMV cycle. [SIGNATURES ON THE FOLLOWING PAGES] Second Amendment to Lease Agreement between COA& HU, Inc. Original Lease approved under Resolution NO. 3364 Dated and Signed on this 2 3 day of p el t S% , 2019 Auburn Hangars Owners Association a Name: Title: STATE OF WASHINGTON 1 ) ss. County of V�� ) The undersigned Notary Public hereby certifies: That on this�� day of 20 \0 ,personally appeared before me U4 \\ �C \ S (n me), ' Y'Q,Skd k (title), to me known to 1 e�thhee individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of P \ov (Y\ kNO YbWY` 06S06c� In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. °11/vVeP' ,...\\\‘"‘"%%‘,„ �NSC,S;ti, ,, ZS.rQ'.�`,,,g'oi�r"'',, O /4 Notary Public in and forthe State of Washington, - 4- 7.oT4q '0 y`' �" Residing at RAesaLk W� '" 202199 "�% S. My commission expires CkA6VV2 e. 4, �;' ox WAS' Second Amendment to Lease Agreement between COA& HU, Inc. Original Lease approved under Resolution NO. 3364 Dated and Signed on this day of ' o� , 2019 City of Auburn ayor: N Backus Approved as . • City Attorney: Steven L. Gro STATE OF WASHINGTON ) ss. County of V The undersigned Notary Public hereby certifies: That on thi Z day of , 20\c, ,personally appeared before me \t_ (name), (title),to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. #PBELL 1,14/ (, OPIRs 's,,i�r0 I, _ - r ry PcY '%ire Notary Public in and for the State of Washington, z :y o . 005; z ::: Residing at 6y%,oo JaON P My commission expires Ili, 1'S.4ATE p — Second Amendment to Lease Agreement between COA& HU, Inc. Original Lease approved under Resolution NO. 3364 EXHIBIT F CITY OF AUBURN / AUBURN CONDO HANGARS ASSOCIATION (THIRD AMENDMENT) COVER SHEET t THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND AVIATION PROPERTIES, INC. THIS AMENDMENT is made and entered into this\� day of ��N.c, � 2019,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(hereinafter referred to as the"CITY"), and Auburn Condo Hangars Association (hereinafter referred to as Lessee), as an addendum to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport") executed on the 8th day of June, 2001. WITNESSETH: WHEREAS, the City of Auburn ("CITY"), and Aviation Properties, Inc. ("API") entered into a Lease Agreement dated June 8, 2001, a memorandum of which was recorded with the Auditor of King County, Washington, under Auditor's File No. 20020627002407 on the 27th day of June, 2002; and WHEREAS,Pursuant to Paragraph 12 of the Lease Agreement between API and the CITY, API had the right to create a Condominium Association which was created and recorded with the Auditor of King County, Washington,under Auditor's File No. 20030415000674; and WHEREAS, Pursuant to Paragraph 12(b) of the Lease Agreement between API and the CITY,the Lease was automatically assigned to the Auburn Condo Hangars Association("ACHA") for the assumption of all responsibilities under this Lease Agreement; and WHEREAS, The Lease Agreement has twice been amended; The first dated November 19, 2002 and the second dated August 3, 2016; and WHEREAS, Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value"(FMV) of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: 1) Paragraph 5(a) is replaced in its entirety with the following: • Monthly Base Rent will adjust on January 1, of every year beginning January 1, 2002 during the lease term,per this Section 5. Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five(5) years, commencing on January 1, 2020, to equal the "fair market rental value" (FMV) of Auburn Airport land,pursuant to the procedure set forth in Section 5(d)below. No such adjustment, however will reduce the amount of Monthly Base Rent below the amount of the respective Monthly Base Rent that is being adjusted. Third Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO. 3353 2) Paragraph 5(d) is replaced in its entirety with the following: • Each five (5) years, commencing on January 1, 2020, the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 5(b) & (c) will not be applied each such fifth(5th) year. Lessor may, at its discretion,utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment. Additionally, this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense,retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful, the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals,but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration, the determined rental rate will be made retroactive to January 1 of the current FMV cycle. [SIGNATURES ON THE FOLLOWING PAGES] Third Amendment to Lease Agreement between COA &Aviation Properties, Inc. Original Lease approved under Resolution NO. 3353 r Dated and Signed on this 25 acto day of 4ç— , 2019 Auburn Condo Hangars Association Cob P2 ID J— Name: Title: STATE OF WASHINGTON ) ss. County of Y--tno� The undersigned Notary Public hereby certifies: That on this 7,,/) day ofwks- 20\,personallyappeared before me 1)01J1 6 \ (name), COhdu Psv(� (title), t&me known tb be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of POolvn Condi kkO,n 'Pg,ocio VA In Witness Whereof I have hereunto set my hand sand affixed my official seal the day and year first above written. !� 9 ��•N\\ SCHD1����i Notary Public in and for the State of Washington, 10,A4„,,N,f,,,,ti�� ��i Residing at V.e ill wall P 41.„mR`'0' ,� z� My commission expires 01-Ict-�,2 u 2o1” s Z cPA'h,'l '/ 'I/ I ,,,,,,,,,, 11 ,'III iO 1\W0S`. Third Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO. 3353 Dated and Signed on this -% day of , 2019 City of Auburn yor: Nan, .ackus Approved avi ��••4 City Attorney: Steven L. Gross STATE OF WASHINGTON ss. County of \LN, The undersigned Notary Public hereby certifies: That on this Th day of 20\S , personally appeared before me ��� � ���„`� (name), (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of C .mac . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. �Q Q�aes '$+, `<0�',, Notary Public in and for the State of Washington, c� i P� ''��s Residing atr. Yy aSi• My commission expires �-�� z S/moo a, /11/40 z�I, • , a�����..„��0 Third Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO. 3353 EXHIBIT G CITY OF AUBURN / JAMES E. JACOBSEN (FIRST AMENDMENT) COVER SHEET FIRST AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND JAMES E.JACOBSEN. THIS AMENDMENT is made and entered into this 6 day of_. eA 2019,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(hereinafter referred to as the"CITY"), and JAMES E.JACOBSEN (hereinafter referred to as Lessee), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") dated the 3rd day of June, 2002. WITNESSETH: WHEREAS, the City of Auburn and James E. Jacobsen entered into a Lease Agreement dated June 3, 2002 authorized under resolution 3474; and WHEREAS, Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value"(FMV) of the Premises, NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: 1) Paragraph 5(a) is replaced in its entirety with the following: • Monthly Base Rent will adjust on January 1, of every year beginning January 1, 2004 during the lease term,per this Section 5. Notwithstanding the foregoing, Monthly Base Rent will be adjusted every five(5) years, commencing on January 1, 2020, to equal the "fair market rental value" (FMV) of Auburn Airport land, pursuant to the procedure set forth in Section 5(d)below. No such adjustment,however will reduce the amount of Monthly Base Rent below the amount of the respective Monthly Base Rent that is being adjusted. 2) Paragraph 5(d) is replaced in its entirety with the following: • Each five (5) years, commencing on January 1, 2020, the Monthly Base Rent will be revised based upon an appraisal establishing fair market rental value of Auburn Airport land, excluding rental value of any Lessee constructed Improvements. Lessor will retain and pay the costs of an MAI appraiser. The annual adjustment formula set forth in Sections 5(b) & (c) will not be applied each such fifth(5th) year. Lessor may, at its discretion,utilize an appraisal completed within 12 months prior to the date of the periodic five year adjustment. Additionally, this appraisal may be used by Lessor for setting rates for leases other than this Lease. In the event Lessee disagrees with Lessor's appraisal, Lessee may, at their own expense, retain a second appraisal. Lessor and Lessee will then attempt to negotiate a lease rate. If these negotiations are unsuccessful, the parties will mutually agree on the selection of an arbitrator. The costs of arbitration will be shared equally. The arbitrator's determination will be based upon the appraisals, but in no event will the new Monthly Base Rent be lower than the Monthly Base Rent in effect First Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO. 3474 at the time of arbitration. The decision of the arbitrator regarding the increases will be final. In the event of ongoing negotiations or arbitration, the determined rental rate will be made retroactive to January 1 of the current FMV cycle. [SIGNATURES ON THE FOLLOWING PAGES] First Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO. 3474 Dated and Signed on this (p day of ,<50404,440.0, , 2019 James E. Jacobsen ile$51.4E. Nam Title: STATE OF WASHINGTON KI ) ss. County of ) The undersigned Notary Public hereby certifies: That on this (Alay of ;$4"., 20 f Q, personally appeared before me ,,,jQ,wit$ £ J&cpb sicr, name), (2,S (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that e/ he was duly authorized to execute said document on behalf of k►M In Witness Whereof I have hereunto set my hand . • • . ed my 1, icial seal the day and year first above written. Notary Public State of Washington ' ROBERT AVILA Notary Pu• is in and for th-gyate of Washington, COMMISSION#162083 Residing at , MY COMMISSION EXPIRES August 17,2022 My commission expires • ©ZZ First Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO. 3474 e Dated and Signed on this --\-‘'-- day of z:_ c\-o i� , 2019 City of Auburn ror: ► , MNa ii:ackus Approveoes;to .rm: City A ttorney: Steven L. Gross STATE OF WASHINGTON ) ) ss. County of \` . ) The undersigned Notary Public hereby certifies: That on this-N= day of c.___\,,, ,.. , 20Vc.N ,personally appeared before me , . .;1..,__ ,v�� (name), '. --.'••••7',. 4 \� (title), to me known to be the individual(s) described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed, for the purposes and uses therein mentioned, and on oath stated that he/she was duly authorized to execute said document on behalf of ...,. \ v-\\ 1 `_. In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. O. No 11, * Q .`itES X14,,ii, Ij/ �c-� �C ."„\9 `�+-S" Q 44 ri?'1.4? t °,�oN%y� u Notary Public in and for the State of Washington, o r •io 5 Residing at �,,N,�Q, ` \_c.,v\I...& �%gym °tit e %,��.� a_04 i*L_I My commission expires c y�,�v�o a--._IlO ,..\N•``.�� II1+ HS SIP' 'i:. First Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO. 3474