HomeMy WebLinkAboutAmendment 1 Airport Lease with Classic Helicopter FIRST AMENDMENT
AIRPORT LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND
CLASSIC HELICOPTER CORP.
THIS FIRST AMENDMENT TO THE LEASE AGREEMENT (the "Amendment") is
entered into this ocy Se of 20 , by and between the City of Auburn, a
Washington municipal corporation ("Landlord," or "City") and Classic Helicopter Corp., a
Washington Corporation(the"Tenant").
RECITALS:
1. In 2020,City and Tenant negotiated the terms of Tenant's lease of the 400 building located
at Auburn Airport. The'lease terms agreed to by the parties were written in a September
1, 2020-tem sheet. That term sheet included an agreed to an annual rent adjustment
schedule.
2. Tenant signed the term`sheet Orr September 3,2020. The City signed on December 7,2020,
- after'its approval by the City Council through Resolution 5560. That Resolution
and the Cerin sheet are incorporated by reference into this Amendment.
3. Although the term sheet reflected the Parties' agreement that their eventual lease would
include a rent`adjustment''schedule, the schedule was unintentionally omittedfrom the
subsequent Lease signed by the parties.
4. The Parties mutually agree to_amend the Lease to include the inadvertently omitted rent
adjustment schedule,to correspond with the Parties' agreement regarding the lease terms.
NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the
Parties agree to amend the lease add a new Paragraph 3.4 reading as follows:
3.4) Rent adjustments. Tenant's Base Rent during the Paragraph 2.1 Initial Term is subject to
annual adjustments starting January 1, 2022 based on the Bureau of Labor Statistics Consumer
Price Index for Urban Wage Earners and Clerical Workers (CPI-W), measured from August of
previous year to August of the then current year. Adjustments to Tenant's Base Rent shall not
exceed 5%from that of the previous year. A negative CPI-W adjustment will not reduce Tenant's.
Base Rent. Rent for an Extension beyond the Initial Term shall be established in accordance with
Paragraph 3.3 of this Lease.
Classic Helicopter Corp/COA
Airport 400 Bldg.Lease Page 1 of 4
First Amendment
SIGNATURES ON THE FOLLOWING.PAGES
i p
'
_ r
Classic Helicopter Corp/COA
Airport 400 Bldg.Lease
First Amendment Page 2 of 4
Dated and Signed this '36 day of S- e AA. ► ,20 .
Classic Helicopter Corp.,:
01
Dan Do der sident
STATE OF WASHINGTON )
)ss.
County of �Ii irr4 "1 )
The undersigned Notary PubliQ hereby certifies: That on this 37-i?ldayof ,‹.P,it e/0ti ,
20,Zi ,personally appeared before me O,h;e I O o J e),, (name),
/U-/4 . (title),to me known to be the individual(s)described in
arid.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
frO1oor‘-
In Witness Whereof.I have hereunto set my hand and affixed my official seal the day and
year first above written.
",/:
Notary Public Notary Pu lic in and for the State of Washington,
Stale of Was/logton
Den P. 310Sen Residing at 11e f4 vw
My CoJa uary 23.2024' My commission exp res d//2 3/Z
i
Classic Helicopter Corp/COA
Airport 400 Bldg.Lease
First Amendment Page 3 of 4
Dated and Signed this" day of ` ...?.r.. ).Q..1\,_ 20.1. .
CITY OF AUBURN:
rANCY ,.... .r.,64.4
'f KUS,Mayor
Approved as to form:
Vlullit,.., COMA
City Attorney:.Kendra Comeau
STATE OF WASHINGTON )
)ss.
County of \l-.,(1 C\ )
The undersigned Notary Public hereby certifies: That on this`\ - day of c�o . ,
20' ,\ ,personally appeared before me _ (name),
<-\ �. o t , (title),to me kno to be the individual(s)described in
and who executed the within mstiument,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,.o 'elalaealatthe darand
year first above written. ¢ , , '' '`. 5 . ,
24 M.„u,,,,,v4e /�, Notary Public in and for the State of Washington,
. Residing at..,e.c. o C�,`.t.,�1
zj :ol 10 Z My commission expires </ c\C/ Q_'L\
i) d+,sN 4.0%,..-.4t.,,.
Classic Helicopter Corp/COA
Airport 400 Bldg.Lease
First Amendment Page 4 of 4