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HomeMy WebLinkAbout2.69 Amendment (4)FIRST AMENDMENT TO LEASE AGREEMENT THIS FIRST AMENDMENT TO LEASE AGREEMENT (this "Amendment") is made and entered into as of the q ##' day of si .2019, with the intent to be bound hereby as of June 30, 2019, by and between Tff9 CITY OF PORT ANGELES (the and KIRO-TV, INC., a Delaware corporation ("Lessee"). WITNESSETH: WHEREAS, the City and Lessee entered into that certain Communications Site Facility Use Lease dated September 8, 2008, as affected by that Renewal Letter dated July 28, 2015, as affected by that Renewal Letter dated March 10, 2016, as affected by that Renewal Letter dated March 20, 2017, and as affected by that Renewal Letter dated March 23, 2018 (collectively, the "Lease"), for real property located at 1022 South "E" Street, Port Angeles, WA, and as more particularly described in the Lease (the "Premises"); and WHEREAS, the term of the Lease is scheduled to expire on June 30, 2019, and Lessee and City desire to extend the term of the Lease through June 30, 2022, and to provide for other modifications referenced herein. NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the Lease is hereby amended and the parties hereto do hereby agree as follows: 1. Recitals, Capitalized Terms. The recitals set forth herein above are incorporated herein as if restated in their entireties. All capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Lease. 2. Renewal of Lease Term. The term of the Lease is hereby extended for a period of thirty-six (36) months (the "Renewal Term") commencing on July 1, 2019 and expiring on June 30, 2022, unless sooner terminated or extended pursuant to the terms of the Lease, as amended herein. The Renewal Term shall remain subject to same terms and conditions as the Lease. All references in the Lease to the "tern" shall hereafter be deemed to include the Renewal Term. 3. Rent. During the Renewal Tern, annual Rent amounts shall be as follows: Period Annual Rent 7/1/2019 — 6/30/2020 $2,791.21 7/l/2020 — 6/30/2021 $2,874.95 7/l/2021 — 6/30/2022 $2,961.20 4. Extension Option. Lessee shall have one (1) option ("Extension Option") to extend the term of the Lease, as amended herein, for three (3) additional years ("Option Term"). The Extension Option shall be exercised upon Lessee providing written notice to the City at least ninety (90) days prior to the expiration of the Renewal Term. During the Option Term, all terms and conditions of the Lease, as herein amended, shall remain the same, except, annual Rent shall be payable as set forth below: Period Annual Rent 7/l/2022 — 6/30/2023 $3,050.04 7/1/2023 — 6/30/2024 $3,141.54 7/1/2024 — 6/30/2025 $3,235.79 5. Notices. From and after the date hereof, the City and Lessee acknowledge that addresses for notices under the Lease are as follows: If to the City: The City of Port Angeles 321 E. Fifth Street Port Angeles, WA 98362 If to Lessee: Kiro-TV, Inc. c/o Cox Enterprises, Inc. 6205 Peachtree Dunwoody Road Atlanta, Georgia 30328 Attn: Director of Real Estate And to: Sheley, Hall & Williams, P.C. 303 Peachtree Street Suite 4440 Atlanta, Georgia 30308 Attn: David L. Lester 6. Entire Affremot. This Amendment represents the entire agreement between the parties with respect to the subject matter hereof. The City and Lessee agree that there are no collateral or oral agreements or understandings between them with respect to the Leased Premises or the Building other than the Lease and this Amendment. This Amendment supersedes all prior negotiations, agreements, letters or other statements with respect to the matters addressed herein. This Amendment shall not be valid and binding on the City and Lessee unless and until it has been completely executed by and delivered to both parties. 7. Confirmation of Lease. Except as expressly amended and modified by this Amendment, the Lease shall otherwise remain unmodified and in full force and effect, and the parties hereto hereby ratify and confirm the same. To the extent of any inconsistency between the Lease and this Amendment, the terms of this Amendment shall control. 8. Counterparts; PDF Delivery. This Amendment may be executed by the parties hereto in separate counterparts, including by "portable document format" C pdf') or electronic signatures, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of the signature page to this Amendment by pdf shall be as effective as delivery of a 2 manually executed counterpart of this Amendment and shall be given full legal effect in accordance with applicable laws. [SIGNATURES BEGIN ON THE FOLLOWING PAGE] IN WITNESS WHEREOF, the undersigned parties have duly executed this Amendment under seal as of the day and year first above written. THE CITY: CITY OF PORT ANGELES Sy. VIL 0-— _ 2�g �'-- Name: ,.!L Cit Nl /L tT LESSEE: ICIRO-TV, INC., a Delaware corporation Name: Title: