HomeMy WebLinkAboutAHOA signed lease amendment eff 2020Dated and Signed on this 2 t day of vc 7 o io �2 2019
Auburn Hangars Owners Association
Name: Title:
STATE OF WASHINGTON )
ss.
County of k Ln o )
The undersigned Notary Public hereby certifies: That on this '�' day of Gt+ol ,a r
20j personally appeared before meRZgAIDACC Nod KA_<r(name),
PD e C r D e. T- (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
4"Vi.a F/ q�#85'�i NeRS 4-rS0C.aT.o,J
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and
year first above written.
JARED GARRIDO
NOTARY PUBLIC
STATE OF WASHINGTON
ublic in and for the State of Washington,
oesidin
My0� EXPMofWrtamn
at auklhLn
mission expires
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364
Dated and Signed on this 7- f day of _o cT-v 8 e/Z , 2019
Auburn Hangars Owners Association
�/ -C .e i,n PA2si0e. T
Name:
Title:
STATE OF WASHINGTON )
ss.
County of )
The undersigned Notary Public hereby certifies: That on this Q_ day of OC+� r
20ja_, personally appeared before me %LA 1 o eL Seer®p a A r (name),
P2 F C raa,..7— (title), to me (mown 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
A,AR"f2� M46, 3 ,es raw, eQs ASsocrn ri o,v
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and
year first above written.
JARED GPUBLIC Nota&at6L2622,Cr1
or the State of Washington,
NOTARY PUBLtC
STATE OF WASHINGTON Resi
My Canmisswn Cxpire: necemtarla, sort My commission expires
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364
Dated and Signed on this day of . 2019
City of Auburn
Mayor: Nancy Backus
Approved as to form:
City Attorney: Steven L. Gross
STATE OF WASHINGTON )
) ss.
County of )
The undersigned Notary Public hereby certifies: That on this day of
20___, 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
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and
year first above written.
Notary Public in and for the State of Washington,
Residing at
My commission expires
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO.3364
Dated and Signed on this day of .2019
City of Auburn
Mayor: Nancy Backus
Approved as to form:
City Attorney: Steven L. Gross
STATE OF WASHINGTON )
)Ss.
County of )
The undersigned Notary Public hereby certifies: That on this _ day of
20_, personally appeared before me (name),
(title), to me known to be the individuals) 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.
Notary Public in and for the State of Washington,
Residing at
My commission expires
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364
THIRD AMENDMENT TO THE LEASE AGREEMENT
BETWEEN THE CITY OF AUBURN AND HU, INC.
THIS AMENDMENT is made and entered into this ht day of o 7o.3..a�
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 12" 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,
WHEREAS, Resolution 5457 amended the FMV adjustment schedule
NOW THEREFORE in consideration of their mutual covenants, conditions and promises,
the Parties agree as follows:
The following Paragraph 5(e) is hereby added to the Lease Agreement:
5(e) The 2020 FMV adjustment as defined in Section 5 of this Lease Agreement as
amended will be implemented over two years in the following manner:
(1) For the 2020 calendar year term the FMV adjustment will be charged at a per square
foot rate of $0.715.
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364
00 For the 2021 calendar year term a rate of $0.825 per square foot will be charged in
place of the scheduled CPI adjustment.
All other terms and conditions of this Lease Agreement as amended shall remain the
same.
[SIGNATURES ONTHE FOLLOWING PAGES]
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364
THIRD AMENDMENT TO THE LEASE AGREEMENT
BETWEEN THE CITY OF AUBURN AND HU, INC.
THIS AMENDMENT is made and entered into this 'x ( day of G «aVx/j
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 12`h 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,
WHEREAS, Resolution 5457 amended the FMV adjustment schedule
NOW THEREFORE in consideration of their mutual covenants, conditions and promises,
the Parties agree as follows:
The following Paragraph 5(e) is hereby added to the Lease Agreement:
5(e) The 2020 FMV adjustment as defined in Section 5 of this Lease Agreement as
amended will be implemented over two years in the following manner:
(i) For the 2020 calendar year term the FMV adjustment will be charged at a per square
foot rate of $0.715.
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364
Ob For the 2021 calendar year tens a rate of $0.825 per square foot will be charged in
place of the scheduled CPI adjustment.
All other terms and conditions of this Lease Agreement as amended shall remain the
same.
[SIGNATURES ON THE FOLLOWING PAGES]
Third Amendment to Lease Agreement between COA & HU, Inc.
Original Lease approved under Resolution NO. 3364