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HomeMy WebLinkAbout5785 RESOLUTION NO. 5785 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, AUTHORIZING THE MAYOR TO EXECUTE AMENDMENTS TO CERTAIN AUBURN MUNICIPAL AIRPORT LAND LEASES RELATING TO THE IMPLEMENTATION OF THE 2025 FAIR MARKET VALUE LEASE RATE ADJUSTMENT WHEREAS, the City of Auburn has several land leases located.on the Auburn Municipal Airport; and WHEREAS, each land lease contains a Fair Market Valuation ("FMV") rent escalation clause; and WHEREAS, the appraisal establishing the FMV rent for the 2025 term produced a rate that is substantially higher than the current lease rate; and • WHEREAS, the City and those tenants subject to the 2025 FMV escalation desire to phase the rent increase over a three-year period in an effort to mitigate the financial burden on those tenants. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, HEREBY RESOLVES as follows: Section 1. That the Mayor is authorized to execute those lease amendments subject to the 2025 FMV escalation and attached as Exhibits"A", "B," "C," "D," "E," "F," and "G» Section 2. The Mayor is authorized to implement such administrative procedures as may be necessary to carry out the directives of this legislation. Resolution No 5785 September 12, 2024 Page 1 of 2 Section 3. This Resolution shall take effect and be in full force, upon passage and signatures hereon. Dated and Signed this 7th day of October, 2024. CITY OF AUBURN NA CY B , MAYOR ATTEST: AP' OVED A TO F -44 :roax.A.-v\---C14.04.tv64304. I II I I I I I IN Lw Shawn Campbell, MMC, City Clerk Jas•' Whalen, City Attorney • Resolution No 5785 September 12, 2024 Page 2 of 2 EXHIBIT A CITY OF AUBURN / Auburn Condo Hangars Association (FIFTH AMENDMENT) COVER SHEET FIFTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND AVIATION PROPERTIES,INC. THIS AMENDMENT is made and entered into this 23 day of Si ✓ 2024,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Auburn Condo Hangars Association (the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn • Municipal Airport("Airport") executed on the 8th day of June,2001. I. RECITALS: 1. The CITY,and Aviation Properties,Inc. ("API")entered into a lease agreement dated June 8,2001 (the"Original Lease Agreement"), 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. 2. 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. 3. 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. 4. Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustment based upon"fair market rental value"(FMV)of the Premises. 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 3rd amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. 7. Due to the size and maintenance responsibilities of the tenant this leasehold has in the past realized a discount rate applied to the FMV. II. AMENDMENT: In consideration of their mutual covenants, conditions and promises,the Parties agree as follows: The following Paragraph 5(e) added as part of the 4th amendment to the Lease Agreement is replaced with the following: Fifth Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO.3353 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$0.715. (ii) For the 2026 calendar year term a rate of$0.7865 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$0.8775 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] • Fifth Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO.3353 / Signed and Dated on this �(J day of 29 4/f Am.)14-e- / , 2024 Auburn Condo Hangars Association Ova/ Trescr Name: MADD Va,6ktek.. Title: STATE OF WASHINGTON )ss. County of 7/err ) rg( The undersigned Notary Public hereby certifie : at on this c(7 day of ki0f, , 20a ,personally appeared before me °'�vt VO'I(/,[� ame), ii.e(S(,(,i'&I/ (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 o ]th tated th t he/she was duly authorized to execute said document on behalf of tial tr 0 1 rire.7/a-t ✓1"/ In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. Nota ublic in and forth State'o/f Washington, w Residing at /j,i ti�.�/� i �rl� °aryry Po lie My commission expires III,i4j73Or?-1 State of Washington BARBLICENSE# 181551JDD MY COMMISSION EXPIRES 14D/EMBER 29 2027 Fifth Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO.3353 Signed and dated on this day of Onto be V , 2024 City of Auburn Mayor: NF :ackus Approved o form: Ci Attorney: Jason Whalen STATE OF WASHINGTON , \ )ss. County of \L\ 1v L1 ) The undersigned Notary Public hereby certifies: That on this day of 00-Ober , 20 2-1,personally appeared before me k)(MN ` ( S (name), MU'j 0 V (title),to me known to be the individual(s)described in and who executhd 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 Tht \y ok N oU-Y' In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. 14g)W1A(k‘fill4 Notary Public4 Notary Public in a d for the State of Washington, State of WashingtonResiding at b won vviA 1 HANNAIH SCROLL My commission expires "1- 1°I-2(p LICENSE#202199 MY COMMISSION EXPIRES t SEPTEMBER 19,2026 Fifth Amendment to Lease Agreement between COA&Aviation Properties, Inc. Original Lease approved under Resolution NO.3353 EXHIBIT B CITY OF AUBURN / JAMES E. JACOBSEN (THIRD AMENDMENT) COVER SHEET THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND JAMES E.JACOBSEN. THIS AMENDMENT is made and entered into thiQday of Cf '(413 2024,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"),and JAMES E.JACOBSEN(the"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. I. RECITALS 1. The City of Auburn and James E. Jacobsen entered into a lease agreement dated June 3, 2002(the"Original Lease Agreement") authorized under resolution 3474. 2. Sections 5(a)and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV)of the Premises. 3. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 4. The 1 Amendment to the Lease Agreement,authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. IL AMENDMENT NOW THEREFORE in consideration of their mutual covenants,conditions and promises, the Parties agree as follows: The following Paragraph 5(e)added as part of the 2nd Amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of 1.35 per square foot will be charged in place of the scheduled CPI adjustment. Third Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO.3474 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&James E.Jacobsen Original Lease approved under Resolution NO.3474 Signed and dated on this - may of ZPkin,4a-� ,2024 James E.Jacobsen Name: Title: STATE OF WASHINGTON )ss. County of KI The undersigned Notary Public hereby certifies:That on thiatda of 20 f,personally appeared before me iktM .�„�S (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. ANGELA ELIZ ryPB b Hc KLEIN Notary �ic' I a he State of Washington, Statg of Washington Residing at ILi1E( Commission #21027004 My commission expires cy J1 My Comm. Expires Sep 17, 2025 Third Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO.3474 Signed and dated on this -1 day of Ottb 10Q' ,2024 City of Auburn KAIt , Tal ' - Mayor:Nan i B:_kus Approve. to form: ,,,,e 11111ft..— Al11-1--_.- iiplii Air City 'ttomey:Jason Whalen STATE OF WASHINGTON ) )ss. County of Y-\N(1 ) • The undersigned Notary Public hereby certifies:Th on this 1 day of 0 OD bf�'( , 20 211,personally appeared before me 1 (XYiA ,GaAs (name), k(i (title),to me kndwn to be the individual(s)described in and who executed 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 1\Ati Ca osc Nowt' . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. Notary Public F Notary Pu lic in and for the State of Washington, State of Washington 1 Residing at PUOWIA1 UJ Pi t HANNAH SCHOLL. 1 My commission expires ot-lovuP LICENSE#202199 ' MY COMMISSION EXPIRES SEPTEMBER 19 2026 Third Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO.3474 THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND JAMES E.JACOBSEN. THIS AMENDMENT is made and entered into thi O14 day of 2024,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"),and JAMES E.JACOBSEN(the"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. I. RECITALS 1. The City of Auburn and James E. Jacobsen entered into a lease agreement dated June 3, 2002(the"Original Lease Agreement") authorized under resolution 3474. 2. Sections 5(a)and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value"(FMV)of the Premises. 3. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 4. The 1st Amendment to the Lease Agreement,authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. II. AMENDMENT NOW THEREFORE in consideration of their mutual covenants,conditions and promises, the Parties agree as follows: The following Paragraph 5(e)added as part of the 2nd Amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of 1.35 per square foot will be charged in place of the scheduled CPI adjustment. Third Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO.3474 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&James E.Jacobsen Original Lease approved under Resolution NO.3474 Signed and dated on this so day of f -n ,2024 James E.Jacobsen Name: Title: STATE OF WASHINGTON )ss. County of L(t\\( ) The undersigned Notary Public here yJn certifies:That on this -day°� 20•,y personally appeared before me�}7T��� l�sz-lv (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 aut orized 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. • ' ANGELA ELIZABETH KLEIN Notary Public ota u i nd f r the State of Wa/s�hiington, State of Washington Residi T Commission #21027004 My Comm. Expires Sep 17,.2025 ) My commission expires �!{O1 11- , Third Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO.3474 Signed and dated on this day of O CNO� ,2024 City of Auburn . - Mayor:N. ' :.ac us A. •r red as to form: ErAmov 4for C y Attorney: Jason Whalen STATE OF WASHINGTON ss. County of The undersigned Notary Public hereby certifies:That on this 1 day of d M 20 Z),personally appeared before me N Ok1(\ liVA(XUS (name), J( U( (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. wM_� Notary Public ~~ M Notary Public in and for the State of Washington, State of Waddington Residing at Prvtbwrh w HANNAH SCHOLL. LICENSE#202199 ' My commission expires MY COMMISSION EXPIRES SEPTEMBER 19.2026 Third Amendment to Lease Agreement between COA&James E.Jacobsen Original Lease approved under Resolution NO.3474 EXHIBIT C CITY OF AUBURN / AUBURN HANGARS OWNERS ASSOCIATION (FOURTH AMENDMENT) COVER SHEET FOURTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND HU,INC. THIS AMENDMENT is made and entered into th4051k day ofCc�S-L 2024, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington (the"CITY"), and Auburn Hangars Owners Association(the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") dates the 14th day of September, 2001. I. RECITALS: 1. The City of Auburn, and HU, Inc., doing business as Hangars Unlimited ("HU") entered into a Lease Agreement dated September 14, 2001 (the "Original Lease Agreement"), 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. 2. 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. 3. 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. 4. Sections 5(a)and 5(d) provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV)of the Premises. 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 2nd amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 5(e)added as part of the 3rd amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: Fourth Amendment to Lease Agreement between COA&HU, Inc. Original Lease approved under Resolution NO.3364 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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] Fourth Amendment to Lease Agreement between COA&HU, Inc. Original Lease approved under Resolution NO.3364 Signed and dated on this- Q day of 2024 Auburn Hangars Owners Association R-Y—eeezee ,PSLeg- k- Rafe/4 'F25- A-SS Name: Title: • STATE OF WASHINGTON i / , ,n p )ss. County of 9�-1 I v ) The undersigned Notary Public hprplly certifies:That on thicit day ofgep--ornISg . 20i f, ersonally appeared before me ' �L. SAJ0b � (name), pReg/ �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 n behalf of pruai4 R.IO #hq-N &7q1€ o N iec A-ssca 4'Ti • In Witness Whereof I have hereunto set my hand and . ixed my official seal the day and year first above written. I ANGELA ELIZABETH KLEIN W411111n1 SIMI� Notary Public • ary '1‘r•lici, and fo the State of Washington, State of Washington siding a Commission#21027004 � c � My Comm. Expires Sep 17, 2025 ( My commission expires ► ' Fourth Amendment to Lease Agreement between COA&HU, Inc. Original Lease approved under Resolution NO.3364 Signed and dated on this 1 day of 001)V/X , 2024 City of Auburn • Mayor:Nan f.f%ackus Approver .s to form: BINmAr '/ r C ty Attorney: Jason Whalen STATE OF WASHINGTON )ss. County of � 1 (r� ) The undersigned Notary Public hereby certifies:That on this -1 day of OL"V06( 20 VA, rsonal ly appeared before me M NV\ ?"")(ACV.-U.,.(— (name), personally (title),to me k own 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 CGS ' WOUrn In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. 471C74AA/ - Not y Pub �b ngtun Notary Public in and for��"" the State of Washington, Stated HSCHOLL Residing at K��biAirh� H ICENSE#202199 My commission expires p-up My COMMISSION 19 Z Tb F•S ' SEPTIE wr Fourth Amendment to Lease Agreement between COA&HU, Inc. Original Lease approved under Resolution NO.3364 FOURTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND HU,INC. THIS AMENDMENT is made and entered into this t day of 1'f�/4 2024, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Auburn Hangars Owners Association (the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") dates the 14th day of September, 2001. I. RECITALS: 1. The City of Auburn, and HU, Inc., doing business as Hangars Unlimited ("HU") entered into a Lease Agreement dated September 14, 2001 (the "Original Lease Agreement"), 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. 2. 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. 3. 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. 4. Sections 5(a)and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV)of the Premises. 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 2nd amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 5(e)added as part of the 3rd amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: Fourth Amendment to Lease Agreement between COA& HU, Inc. Original Lease approved under Resolution NO.3364 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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] Fourth Amendment to Lease Agreement between COA& HU, Inc. Original Lease approved under Resolution NO.3364 Signed and dated on this OZA day of ,2024 Auburn Hangars Owners Association P. � �° ,e�,l-3 l�¢ gLaz o/14 gyp411-s cic:.c k-cis 4-S S, Name: Title: STATE OF WASHINGTON ) ) ss. County of Kt ) . The undersigned Notary Public hereby ertifies: That on thiso day of 51��Pro't 2QQ',personally appeared before me /'(- t-Pc LL- CAIN PASS (name), 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 at' at that he/she was duly authorized to execute said document on behalf of � die id chi AN 6-4.1c co.to/U0P-s &DO-r --,ri In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. r ANGELA ELIZABETH KLEIN I Notary Publi a r t State of Washing on, Notary Public Reside at �• State of Washington Commission#21027004 My commission expires 0 My Comm. Expires Sep 17, 2025 Fourth Amendment to Lease Agreement between COA& HU, Inc. Original Lease approved under Resolution NO.3364 Signed and dated on this 1 day of 0(AD ,9-e' , 2024 City of Auburn Jr Mayor:Na i ,.ckus Approv-. .s to form: ' 111111,40 dImmIKAMV, III ity Attorney: Jason Whalen STATE OF WASHINGTON ) �- � k) h )ss. County of ) The undersigned Notary Public hereby certifies: That on this 1 day of D Cb btY , 20 A,personally appeared before me N a►(\ X/ kt I S (name), May (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 IVY. 1A dr W U 'n. In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. Notary P blic in and for the State of Washington, Notary Public Residing at PKUUahi Ian State of Washington My commission expires A--1O1-? HANNAH SCHOLL LICENSE#202199 MY COMMISSION EXPIRES SEPTEMBER 19.2026 Fourth Amendment to Lease Agreement between COA&HU, Inc. Original Lease approved under Resolution NO.3364 EXHIBIT D CITY OF AUBURN / AUBURN FLYERS CONDO (THIRD AMENDMENT) COVER SHEET THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into thi&Uiday of 'Vl024, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington (the"CITY"), and Auburn Flyers Condo I (the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") executed on the 17th day of June, 2002. I. RECITALS: I. The City of Auburn ("CITY"), and NW Hangars, LLC. ("Lessee") entered into a Lease Agreement dated June 17, 2002 (the "Original Lease Agreement"), recorded with the Auditor of King County, Washington, under Auditor's File No. 20021212002550 on the 12th day of December, 2002. 2. 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. 3. 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. 4. Sections 5(a)and 5(d) provide for annual periodic rent adjustments including adjustments based upon "fair market rental value" (FMV)of the Premises. 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 1st amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. IL AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 5(e)added as part of the 2nd amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3484 - (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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& NW Hangars, LLC. Original Lease approved under Resolution NO.3484 Signed and dated on this day of SjerblIA542.J024 Aubur Flyers Condo I • ' M • 6—s r Nate: Title: STATE OF WASHINGTON )ss. County of Kt ��" The undersigned Notary Public hereby certifies:That on this9O6gday of 14 7 ...... 2069y, personally appeared before me N(C-Y 0 LAS , A--(SS/S (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 UP �s fU Q® L In Witness Whereof I have hereunto set my hand and affixed my official seal the da . -a year first above written. ANGELA ELIZ Public KLEIN Notary Pu o lic in a d fo State of Washington, Notary Public ( /1 n State of Washington I Residing at �`O�" OX/ WA— Commission #21027004 My commission expires 0 My Comm. Expires Sep 17, 2025 Third Amendment to Lease Agreement between COA& NW Hangars, LLC. • Original Lease approved under Resolution NO.3484 Signed and dated on this —1 day of b COW , 2024 City of Auburn 4r Ma t or: Nanc Nkus • Approved as : orm: ),",/' yam. --� 4 City ' ttorney: ason Whalen STATE OF WASHINGTON ) )ss. County of \C P 11 ) The undersigned Notary Public hereby certifies: That on this l day of 0 LAVJ 'X , 20 VA, personally appeared before me N- (kYV,Vt ? f.. -I S (name), Wl 0( (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 ANA Gkok Prulousn In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. ;Allij Notary Public in and for the State of Washington, Notary Public x Residing at f\okik 1, WV\ s State of Washington My commission expires ol-J i-1 HANNAH SCHOLL LICENSE#202199 MY COMMISSION EXPIRES SEPTEMBER 19,2026 ; Third Amendment to Lease Agreement between COA&NW Hangars, LLC. Original Lease approved under Resolution NO.3484 THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into this�7`E l day of, M 4, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington (the"CITY"), and Auburn Flyers Condo I(the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport("Airport") executed on the 17th day of June, 2002. I. RECITALS: 1. The City of Auburn ("CITY"), and NW Hangars, LLC. ("Lessee") entered into a Lease Agreement dated June 17, 2002 (the "Original Lease Agreement"), recorded with the Auditor of King County, Washington, under Auditor's File No. 20021212002550 on the 12th day of December, 2002. 2. 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. 3. 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. 4. Sections 5(a)and 5(d)provide for annual periodic rent adjustments including adjustments based upon "fair market rental value" (FMV) of the Premises. 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The Pt amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 5(e)added as part of the 2nd amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over three years in the following manner: Third Amendment to Lease Agreement between COA&NW Hangars, LLC. Original Lease approved under Resolution NO.3484 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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& NW Hangars, LLC. Original Lease approved under Resolution NO.3484 Signed and dated on thisct day of —,2024 Auburn Flyers Condo I titoPRE& de41ame: Title: STATE OF WASHINGTON ss. County of K IvG-' The undersigned Notary Public hereby certifies:That on this5day of 2 ersonally appea ced before me N IC�( S iA I SS%S (name), P)I b- NT- (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 --f VL td( CIJ bO Z In Witness Whereof I have hereunto set-my-hand and affixed my official seal the day and year first above written. rlialmallidil.11164116.111641balm.ANGELA ELIZABETH KLEIN Notary Public ( Not Public i nd f _ tate of Washington, State of Washington '' '' II /� g Commission#21027004 Residing at f � cat)/ W� ( My Comm. Expires Sep 17, 2025 My commission expires S2Oler aoas Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3484 Signed and dated on this 1 day of ©(J' OU , 2024 City of Auburn Mayor:Na :':c` us Approv-. as to fo • 11111,0"-,,,-.1/4 Ci y Attorney: Jason Whalen STATE OF WASHINGTON ) )ss. County of l; )(./1 ) The undersigned Notary Public hereby certifies:That on this 1 day of 0 Lkt , 20 i ,personally appeared before me N(Alf\(m (X IitS (name), (VIQI,y15Y (title),to me known to be the individual(s)described in and who executed the within instrument, and acknowledged that he/she signed and sealed the same as his/her free and voluntary act and deed,for the purposes and uses therein mentioned,and on oath stated that he/she was duly authorized to execute said document on behalf of 1ft t ok P100VLYr In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. 44fr"'91-"-1 .,. Notary Public in and for the State of Washington, Notary Public t Residing at P(3.l UH\) of A State of Washington I My commission expires of la'Llo HANNAH SCHOLL LICENSE#202199 My COMMISSION EXPIRES SEPTEMBER 19,2026 Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3484 EXHIBIT E CITY OF AUBURN / AUBURN FLYERS CONDO II (THIRD AMENDMENT) COVER SHEET THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into this t R 1.day of S& T M 1 JL , 2024,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Auburn Flyers Condo II(the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport") dated the 23rd day of January, 2004. I. RECITALS: 1. The City of Auburn,and NW Hangars,LLC.entered into a Lease Agreement dated January 23, 2004 (the "Original Lease Agreement"), recorded with the Auditor of King County, Washington,under Auditor's File No. 20040202001780 on the 2nd day of February 2004. 2. 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 3. 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 4. Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV) of the Premises, 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 1st amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule; II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 5(e) added as part of the 2nd amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5 of this Lease Agreement as amended will be implemented over two years in the following manner: Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3681 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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&NW Hangars, LLC. Original Lease approved under Resolution NO.3681 Signed and dated on this ice' day of S' T '-v) cif ,2024 Auburn Flyers Condo II ( Name: Title: STATE OF WASHINGTON ss. County of k.1 b-' The undersigned Notary Public hereby certifies: That on this rOday o eVIALeK; 20 ersonall a peared before me D I o p S{'Ul 1 i O (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 - i t -71— S C 1a� C In Witness Whereof I have hereun my hand and affixed y official seal • - • - and year first above written. \ Ire‘ ANGELA ELIZABETH KLEIN Nota P bllc i and for(the Sta e of Washington, Notary Public Residing —C CA• kikl A— State of Washington Commission#21027004 My commission expires SPr i'l� S My Comm. Expires Sep 17, 2025 Third Amendment to Lease Agreement between COA&NW Hangars, LLC. Original Lease approved under Resolution NO.3681 • Signed and dated on this 1 day of / 1(Abbe` ,-2024 City of Auburn tram . Mayor:Na Y ;.:ac s Approved o form: Ci Attorney: Jason Whalen STATE OF WASHINGTON ) ss. County of Iv h ) The undersigned Notary Public hereby certifies: That on this 1 day of O[k tei , 20 ti\ ,personally appeared before me {) &i' (Ai bul rills (name), (title),to me known to be the individual(s)described in and who exec ted 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 C\ ok M1AW'. In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. klis.---jukt-aA" raii-8 M Notary Public w Notary Public in and for the State of Washington, State of Washington Residing at tbU�> W Pk HANNAH SCHOLL I My commission expires ci-rt-2149 LICENSE#202199 MY COMMISSION EXPIRES SEPTEMBER 19,2026 Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3681 i THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into this 19 day of 0"CeK.fi , 2024,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Auburn Flyers Condo II(the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport") dated the 23rd day of January, 2004. I. RECITALS: 1. The City of Auburn,and NW Hangars,LLC. entered into a Lease Agreement dated January 23, 2004 (the "Original Lease Agreement"), recorded with the Auditor of King County, Washington,under Auditor's File No. 20040202001780 on the 2nd day of February 2004. 2. 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 3. 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 ofall responsibilities under this Lease Agreement; and 4. Sections 5(a) and 5(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV)of the Premises, 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 1st amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule; II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 5(e) added as part of the 2nd amendment to the Lease Agreement is replaced with the following: 5(e) The 2025 FMV adjustment as defined in Section 5"of this Lease Agreement as amended will be implemented over two years in the following manner: Third Amendment to Lease Agreement between COA&NW Hangars, LLC. Original Lease approved under Resolution NO.3681 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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&NW Hangars, LLC. Original Lease approved under Resolution NO.3681 I Signed and dated on this (C(K day of SCP 7E4t Q.. ,2024 Auburn Flyers Condo II Name: Title: STATE OF WASHINGTON )ss. County of 19�C� The undersigned Notary Public hereby certifies: That on this FII'day of .S 20 ,personally appeared before me `T Xb GM( (name), J—ce..ecc\kteV___ (title),to me known to be the individual(s)described in and who a ecuted 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 d i zT In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. ANGELA ELIZABETH KLEIN Notary Public State of Washington Notary ublic'n and f r th tate of Washington, Commission #21027004 Residing WA My Comm. Expires Sep 17, 2025 My commission expires ( 1 /c Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3681 Signed and dated on this 1 day of 0 LAVP4.Y ,2024 City of Auburn Ma or:Nang :'.ckus Approve I , o form: ®.Atn�� P7 :r Ci Attorney: Jason Whalen STATE OF WASHINGTON ss. County of kt\) h ) The undersigned Notary Public hereby certifies: That on this -1 day of 0 MVO( 20 P ,personally appeared before me N Ok J LI J[ .►LLS (name), IAN(fY (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 1A C/N tek KANOlkiV\ . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. Notary Public Notary Public in and for the State of Washington, State of Washington Residing at !Woolf VLIP HANNAH SCHOLL LICENSE#202199 My commission expires MY COMMISSION EXPIRES SEPTEMBER 19.2026 Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3681 EXHIBIT F CITY OF AUBURN / AUBURN FLYERS CONDO III (THIRD AMENDMENT) COVER SHEET THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into this d y of a _ 2024, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Auburn Flyers Condo III(the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport")dated the 14TH day of September, 2005. I. RECITALS: 1. The City of Auburn, and NW Hangars, LLC. entered into a Lease Agreement dated September 14, 2005 (the "Original Lease Agreement"), recorded with the Auditor of King County, Washington,under Auditor's File No.20060724001167 on the 24th day of July, 2006. 2. 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. 3. 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. 4. Sections 6(a)and 6(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value"(FMV) of the Premises, and 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the "Lease Agreement". 6. The Pt amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 6(e)added as part of the 2nd amendment to the Lease Agreement is replaced with the following: 6(e) The 2025 FMV adjustment as defined in Section 6 of this Lease Agreement as amended will be implemented over two years in the following manner: Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO. 3894 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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& NW Hangars, LLC. Original Lease approved under Resolution NO.3894 Signed and dated on thisd day of , 2024 Auburn Flyers Condo III Nam.. Title: STATE OF WASHINGTON )ss. County of K/ ) The undersigned Notary Public hereby certifies: That on this 0 ay of f$1 2 personally appeared before me 6-, /'�1/� d (name), `�� �) (title),to 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 tha he/she was duly authorized to execute said document on behalf of AltatakE S aOloD 1/I In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. _ , 6 ANGELA ELIZABETH KLEIN fS�j Notary Public N•Aary 'ublic i•n• or th State of Washington, State of Washington ._ . Commission #21027004 Residing a '".or' NI? UM— My Comm. Expires Sep 17, 2025 My commission expires c—`',� �. 1 Third Amendment to Lease Agreement between COA&NW Hangars,LLC. Original Lease approved under Resolution NO.3894 Signed and dated on this day of D C k vb V( , 2024 City of Auburn 44xt VINO Ma or:Nanc :`.y,kus Approv- •s o form: 44 twaragiri Cit Attorney: Jason Whalen STATE OF WASHINGTON ss. County of �h The undersigned Notary Public hereby certifies: That on this day of OGI 1/L� , 20 !�'1 ersonally appeared before me N OkNA VJ(k(k&S (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 1 k PMorn. In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. // (4,47Ai t Notary Public Notary Public in and for the State of Washington, State of Washington i HANNAH SCHOLL Residing at Rv.butrn , LICENSE#202199 My commission expires °1—[a'74o MY COMMISSION EXPIRE S SEPTEMBER 19,2026 Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3894 THIRD AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND NW HANGARS,LLC. THIS AMENDMENT is made and entered into thi _day of4 / -, 2024,by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Auburn Flyers Condo III(the"Lessee"), as an amendment to the Lease Agreement between the parties for land located on the Auburn Municipal Airport ("Airport")dated the 14TH day of September, 2005. I. RECITALS: 1. The City of Auburn, and NW Hangars, LLC. entered into a Lease Agreement dated September 14, 2005 (the "Original Lease Agreement"), recorded with the Auditor of King County,Washington,under Auditor's File No. 20060724001167 on the 24th day of July, 2006. 2. 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. 3. 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 BP')for the assumption of all responsibilities under this Lease Agreement. 4. Sections 6(a)and 6(d)provide for annual periodic rent adjustments including adjustments based upon"fair market rental value" (FMV)of the Premises, and 5. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 6. The 1 amendment to the Lease Agreement, authorized through the ratification of Resolution 5457 amended the FMV adjustment schedule. IL AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 6(e)added as part of the 2nd amendment to the Lease Agreement is replaced with the following: 6(e) The 2025 FMV adjustment as defined in Section 6 of this Lease Agreement as amended will be implemented over two years in the following manner: Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3894 (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$1.10. (ii) For the 2026 calendar year term a rate of$1.21 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$1.35 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& NW Hangars, LLC. Original Lease approved under Resolution NO.3894 14- Signed and dated on this i%day of e- 1 024 Auburn Flyers Condo III : i e `er je't • Title: STATE OF WASHINGTON County of -t k — j ss. The undersigned Notary Public hereby certifies: That on thi (Pday of SS tt'/1 ,E 20M,peksonally appeared before me -I` ' &. rn ( (name), I .T (title),to a 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 aOM . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. ANGELA ELIZABETH KLEIN i N ry bll�l c in nd fort Stateeof Washingtto , Notary shine r-y ( State of Washington Residing at f-1 � Commission #21027004 My commission expires 121 . I' 7 ( My Comm. Expires Sep 17, 2025 p APRIPRIPMprimmirourEpqrwmpiek Third Amendment to Lease Agreement between COA& NW Hangars, LLC. Original Lease approved under Resolution NO.3894 Signed and dated on this 1 day of d C li9V( , 2024 City of Auburn RI% . '-v-P'" • Mayor: Nanc, :',ckus (.___ Approve to form: Citttorney: Jason Whalen STATE OF WASHINGTON ) ss. County of KAt'Li ) The undersigned Notary Public hereby certifies: That on this 1 day of 0 C*Ob , 20 -"PA personally appeared before me IO Clflbiti 1 XV-G.S (name), MO'UY (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 f:1kM ok RAVAA WI . In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written. Notary Public Notary Pub is in and for the State of Washington, State of Washington Residing at P019V1lrY\ R HANNAH SCHOLL I w� LICENSE#202199 My commission expires - t9"uD MY COMMISSION EXPIRES SEPTEMBER.19,2026 Third Amendment to Lease Agreement between COA& NW Hangars,LLC. Original Lease approved under Resolution NO.3894 EXHIBIT G CITY OF AUBURN / Cascade Helicopter Services (SEVENTH AMENDMENT) COVER SHEET SEVENTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF AUBURN AND SKY SERVICES,INC. THIS AMENDMENT is made and entered into this day of 2024, by and between the CITY OF AUBURN, a municipal corporation of the State of Washington(the"CITY"), and Sparrow Tang, DBA Cascade Helicopter Services (the "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. I. RECITALS: 1. The CITY and Sky Services entered into a lease agreement at the Auburn Municipal Airport dated February 27th, 1978 (the "Original Lease Agreement"), authorized through the ratification of Resolution 866. 2. Sky Services was succeeded by Auburn Flight Services who was further succeeded by Cascade Helicopter Services. 3. The Original Lease Agreement together with all previous amendments are collectively referred to herein as the"Lease Agreement". 4. Paragraph 3 "Rental Rate and Rate Adjustment" of the Second Amendment provided for periodic rent adjustments of the Premises. 5. That portion of Sixth Amendment relating to rental rate and rate adjustments provided for periodic rent adjustments, replacing in its entirety Paragraph 3 "Rental Rate and Rate Adjustment"of the Second Amendment. 6. The Parties wish to integrate a new paragraph(Paragraph 6(e)to the Rental Rate and Rate Adjustment section set forth in the Sixth Amendment. II. AMENDMENT: NOW THEREFORE in consideration of their mutual covenants, conditions and promises, the Parties agree as follows: The following Paragraph 6(e) is hereby added to the Lease Agreement: 6(e) The 2025 FMV adjustment as defined in Section 6 of this Lease Agreement as amended will be implemented over three years in the following manner: (i) For the 2025 calendar year term the FMV adjustment will be charged at a per square foot rate of$0.715. Seventh Amendment to Lease Agreement between COA&Sky Services, Inc. Original Lease approved under Resolution NO.866 (ii) For the 2026 calendar year term a rate of$0.7865 per square foot will be charged in place of the scheduled CPI adjustment. (iii) For the 2027 calendar year term a rate of$0.8775 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] Seventh Amendment to Lease Agreement between COA&Sky Services, Inc. Original Lease approved under Resolution NO.866 Signed and dated on this day of ,2024 Sparrow Tang DBA Cascade Helicopter Services Name: Title: 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 Seventh Amendment to Lease Agreement between COA&Sky Services, Inc. Original Lease approved under Resolution NO.866 Signed and dated on this 1 day of 0L \ U , 2024 City of Auburn _.k. Ma or:Nancy :'-: us Appr ed as to form: •ty Attorney: Jason Whalen STATE OF WASHINGTON County of • N L1 )ss. The undersigned Notary Public hereby certifies:That on this 1 day of 0 Lko Qe , 20 2A,personally appeared before me N OM I `M A (name), Ql„ (title),to me kno to be the individual(s)described in and who exei✓uted 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 VAL GW Klovt-vr' . 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, Notary Public Residing at Moutrn., State of Washington HANNAH SCHOLL My commission expires G-I 01-2(J2 LICENSE#202199 MY COMMISSION EXPIRES SEPTEMBER 19,2026 Seventh Amendment to Lease Agreement between COA&Sky Services, Inc. Original Lease approved under Resolution NO.866