HomeMy WebLinkAbout4430RESOLUTION NO. 4430
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AUBURN, WASHINGTON, AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE AN
AMENDMENT TO LEASE AGREEMENT BETWEEN
THE CITY OF AUBURN AND AUBURN
PROFESSIONAL PLAZA, LLC
WHEREAS, the City of Auburn (City) and Auburn Professional Plaza, LLC,
entered into a lease agreement on September 4, 2008, wherein the City was
going to lease office space from Auburn Professional Plaza, LLC, in a building to
be constructed by Auburn Professional Plaza, LLC; and
WHEREAS, the City wishes to lease additional spaces at a cost that is
acceptable to the City.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
KING COUNTY, WASHINGTON, HEREBY RESOLVES as follows:
Section 1. The Mayor of the City of Auburn and the Auburn City Clerk
are hereby authorized to execute an amendment to the lease agreement
befinreen the City of Auburn and Auburn Professional Plaza, LLC dated
September 4, 2008, which amendment shall be in substantial conformity with
the First Amendment to Lease Agreement attached hereto, marked as Exhibit
"A" and incorporated herein by this reference.
Section 2. The Mayor is hereby authorized to implement such
administrative procedures as may be necessary to carry out the directives of
Resolution No. 4430
December 1, 2008
Page 1 of 2
this legislation.
Section 3. This resolution shall be in full force and effect upon
passage and signatures hereon.
Dated and Si9 ~ ned this ..5A,daY of ~2008.
CITY O
y ~
, .
PETER B. LEWIS
MAYOR
ATf EST:
Danielle E. Daskam, City Clerk
Resolution No. 4430
December 1, 2008
Page 2 of 2
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FIRST AMENDMENT TO
LEASE AGREEMENT
This First Amendment to Lease Agreement ("First Amendment"), dated
De-tem I, 2008 is entered into between AUBURN PROFESSIONAL
PLAZA, LLC, a Washington limited liability company ("Landlord"), and THE CITY OF AUBURN, a
code city of the state of Washington ("Tenant").
RECITALS:
1. Pursuant to Auburn City Council Resolution No. 4394, Landlord and Tenant executed a
lease agreement ("Lease") dated September 4, 2008, for Premises located in a Building to be
constructed by Landlord as set forth in the Lease;
2. All capitalized terms not otherwise defined herein shall be as defined in the Lease;
3. Landlord wishes to rent to Tenant an additional portion of the Building and Tenant wishes
to rent from Landlord an additional portion of the Building, upon the terms and conditions outlined in
this Amendment;
4. In consideration for Landlord's agreeing to a reduced rent and purchase price for the
additional portion, Tenant has deemed it to be in the best interest of the Tenant to lease an
additional portion of the Building from Landlord; and
5. By Auburn City Council Resolution No. 4430, Tenant authorized the execution of this
First Amendment to the Lease.
AMENDED TERMS:
The parties agree to amend the Lease as follows:
ADDITIONAL PREMISES
Section 2, paragraphs 2 and 4, of the Lease are hereby modified to include the following
additional area of the Building as part of the Premises: Unit 300, located on the third floor of the
Building ("Unit 300"). Plans of the third floor of the Building depicting the location of Unit 300 are
attached hereto as Exhibit "B-1
The Rentable Area of Unit 300 is currently estimated to be 1,982 square feet.
Exhibit "B" to the Lease is hereby deleted and Exhibit "B-1" attached hereto is substituted in
its place.
2. MINIMUM RENT
Subsection 5.2 (a) of the Lease is modified to provide that, as to Unit 300 only, the minimum
20081201a
rent for the period commencing upon the LCD and continuing through and including the sixtieth full
calendar month after the LCD, shall be equal to Twenry Four pollars ($24.00) per square foot of the
Rentable Area of said Unit 300 per annum. As to future time periods, the minimum rent for said Unit
300 shall increase pursuant to the provisions of Subsections 5.2 (b) through (d) of the Lease.
3. Optional Purchase Price
Subsection 31.2 (a) of the Lease is modified to provide that the Unit 300 Option Purchase
Price (herein defined) during Closing Period One shall be lower than the Option Purchase Price
during Closing Period One for both the Rentable Area up to 42,114 square feet and the Rentable
Area in excess of 42,114 square feet by an amount proportionate to the amount that the annual
minimum rent for Unit 300 is tower than the annual minimum rent for the other Rentable Areas under
the Lease, as follows. The Unit 300 Option Purchase Price during Closing Period One shall thus be
equal to the sum of (i) the product of 1,982 square feet of Rentable Area times Three Hundred Fifty
Six and 31/100 Dollars ($356.31) per square foot plus (ii) the product of $3,964.00 per month
multiplied by the number of months between the LCD and the closing date for Unit 300 with partial
months prorated (together, the "Unit 300 Option Purchase Price"). Provided, that all minimum rent
applicable to Unit 300 paid by Tenant pursuant to subsection 5.2 (a) hereunder up to and through
the closing date shall be applied toward or credited against the Unit 300 Option Purchase Price. As
to Closing Period Two, the Unit 300 Option Purchase Price shall be computed in the same manner
as Closing Period Two Option Purchase Price for the remainder of the Premises.
3. RATIFICATION
The Lease shall remain in full force and effect and, except as set forth herein, shall be
unmodified.
[This page ends here.]
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(SEE EXHIBIT B-1" ATTACHED HERETO
AND INCORPORATED HEREIN BY THIS REFERENCE.)
IN WITNESS WHEREOF, Landlord and Tenant have duly executed this First Amendment
to Lease as of the day and year first above written.
AUBURN PROFESSIONAL PLAZA, LLC
a Washington limited liability company
By: Oliphant Real Estate Services, Inc.
a Washington corporation
its manager and managing member
By: X~R -
J lipha President
STATE OF 14-11 k
COUNTY OF Al ~
On ~&-WftJ110, 2008 before me,
Notary Public, personally appeared Jeffrey Oliphant, personally known to me to be the person
whose name is subscribed to the within instrument and acknowledged to me that he executed the
same in his authorized capacity, and that by his signature on the instrument the person(s), or the
entity upon behalf of which he acted, executed the instrument.
WITNESS my hand and official seal.
~
l iY; .
; SIG TURE OF NOTARY
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THE CITY OF AUBURN
a municipal corpor
By: '
Peter Lewis, Mayor
STATE OF WASHINGTON
COUNTY OF KING
On 2008 before me, DCt 14-'~-~~~
Notary Public, personally appeared Peter Lewis, personally known to me to be the person whose
name is subscribed to the within instrument and acknowledged to me that he executed the same in
his authorized capacity, and that by his signature on the instrument the entity upon behalf of which
the person acted, executed the instrument.
WITNESS my hand and official seal.
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SIGNATURE OF NOTARY
1 ST ST N E
SUITE S U I T E 304
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CITY OCCUPIED OfFICE S P A C E OCCUPIED BY C I T Y
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OFFICE SPACE OCCUPIED BY CIT1'
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EXHIBIT B-1; THIRD FLOOR ~