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HomeMy WebLinkAbout5411Contract Number: Vendor: Subject: Department: File Class: Begin Date: End Date: Review Date: Vault Date: 5411 CONNECTION CREDIT UNION, INC. Lease Agreement - 911 Park Avenue Fire LEG 12-1 9/1/2014 8/31/2017 6/30/2017 0 2018 Comments : ���� ��i AGENDA BILL CITY OF BREMERTON CITY COUNCIL SUBJECT: Lease Agreement between the City of Bremerton and Connections Credit Union, Inc. Study Session Date: COUNCIL MEETING Date: Department: Presenter: Phone: August 27, 2014 September 3, 2014 Fire AI Duke, Fire Chief (360) 473-5380 SUMMARY: Connections Credit Union has established its presence in downtown Bremerton at Fire Station #1. The original Credit Union lease was established in 2011 and was renewed again in 2012. This lease agreement is the same terms and conditions except for a 4% increase in the rate and a 3 year term. ATTACHMENTS: Lease agreement befinreen the City of Bremerton and Connections Credit Union; with Exhibit A FISCAL IMPACTS (Include Budgeted Amount): This agreement will generate $4,500.00 of revenue plus Lease Hold Excise Tax. STUDY SESSION AGENDA: ❑x No Presentation ❑ Full Presentation STUD� SESSION ACTION; RECOMMENDED MOTION: �x Consent Agenda ❑ General Business ❑ Public Hearing Move to approve the Lease Agreement with Connections Credit Union, Inc; and authorize the Mayor to finalize and execute the lease agreement with substantially the same terms and conditions as presented. COUNCIL ACTION: dApprove ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 01/25l13 LEASE This Lease is entered into this �� day of v�T�� , 2014, between TtIE CITY OF �REIVIEItTON, a municipal corporation, (hereinafter referred to as "Lessor"), and CONNECTION CREDIT UNION, INC., a not for profit corporation, (hereinafter referred to as "Lessee"). WHEREAS, Lessor and Lessee desires to enter into a lease Agreement on September 1, 2014 ("Lease Agreement") for certain real properly, building and improvements identified herein; and NOW, THEREFORE, for valuable consideration and by mutual consent of the parties, present this Lease Agreement as follows: " 1. PREMISES. Lessor owns a building and appurtenances ("Improvements") situated upon real property commonly known as the Bremerton Fire Station #1 located at 911 Park Avenue, Bremerton, Washington and more particularly set forth in Exhibit A attached hereto and incorporated by reference (hereinafter collectively the "Premises"). The existing building consists of approximately 12,500 square feet of floor area. The proposed use to the eaisting building will consist of approximately 72 square feet of floor area. ln addition, Lessee may schedulc access to and use of common areas of the property such as kitchen area, conference room and training room identified on Exhibit "A." 2. �'ERM. This Lease shall commence on the date fully executed ("Commencement Date") but no sooner than September 1, 2014 and shall end on August 31, 2017, unless otherwise extended or ternlinated. Lessee or Lessor may terminate this lease at any time with sixty (60) days prior written notice. 3. CONSIDERATION. (a) Rent. In addition to other consideration of this Lease, Lessee agrees to pay Lessor, without notice or deinand, the sum of three hundred and seventy tive dollars (375.00) per month ("Rent") which is inclusive of utility costs, in advance, on or before the first day of the first full calendar month of the tern� hereof and a like sum on or bcfore the first day of each and every successive calendar month thereafter during the term hereof. Effective September 1, 2015, and September 1, 2016 the lcase will be increascd based upon 100% of the Seattle/Tacoma/Bremerlon CPI-W. ln addition Lessee is responsible for paying Lease Hold Excise Tax. Co,r»ection credir union (b) Overdue Rent. Unpaid installments of the Monthly Rent or other sums due hereunder shall, if not timely paid, be subject to a late charge of Fifty and No/100 Dollars ($50.00) to cover the excess costs of administration and shall bear interest from the date due of 12 percent (12%) until all rent and interest has been paid in full. Lessee hereby further agrees to pay any attorneys' fees and expenses incurred by Lessor by reason of Lessee's failure to pay Monthly Rcnt or other charges when due hereunder. (c) Holding Over. If Lessee remains in possession of the Premises or any part thereof after the eYpiration of the term of this Lease without the express written consent of Lessor, such occupancy shall be a tenancy from month-to-month at a rental in the amount of 120% of the last Monthly Rent, plus all other charges and Additional Rent payable hereunder, and upon all the terms hereof applicable to a month-to-month tenancy. 4. USE OF PREMISES. Lessee's use and occupancy of the Premises shall be for an office or for banking puiposes, as well as use of the Premises needed to conduct the Lessee's corporate activities. No other use shall be allowed without the express written consent of the Lessor. Lessee shall have access to the parking lot of the property for it employees' and members usage as indentified in Exhibit "A." Lessee shall not use said Premises or any part thereof for any illegal purpose. Lessee agrees to conforni to municipal, county, and state codes, statutes, ordinances, and regulations concerning the use and occupation of said Premises. Lessee shall maintain the Premises in substantial conformance with all applicable provisions of municipal, county, and state codes, statutes, ordinances, and regulations governing maintenance or operation of such Premises. Lessee shall, at its sole cost, promptly comply with all such laws and governmental rules. Lessee shall not commit or allow to be committed any hazardous waste in or upon the Premises. At the expiration of the agreement Lessee shall: (a) remove all trade tixtures and personal property from the Premises; (b) remove all fixtures, additions, alterations, modifications or other improvements installed in or made to the Premises after commencement of the Tenn by, through, at the request of or on behalf of Lessee and restore the Premises as they existed immediately prior to the making of improvements so removed; provided that Lessee shall not be required to so remove any improvements for which Lessor agreed in writing prior to the time said improvements were installed, that they would not need to be removed at the end of the Term; and (c) surrender the Premises to Lessor in as good condition and state of repair as Lessor is required to keep and maintain them pursuant to the Lease, with reasonable wear and tear expected. If Lessee fails to remove any Improvements or restore the Premises as directed by Lessor pursuant to (b) of this Paragraph 4, within iifteen (15) days after receipt of written notice from Lessor, Lessor may, at Lessee sole risk and expense, perform such removal or restoration (by contract or otherwise) by the most expeditious means available to Lessor. Lessee shall reimburse Lessor for costs and expenses incurred by Lessor to accomplish such removal and restoration. Further, if Lessee fails to remove all persona] property from the premises upon the expiration of the term, Lessor may remove and store sucli property in any place selected by Lessor at the sole risk and expense of the Lessee. 2 Connection Credit U►tinn ACKNOWLEDGEMENT OF LESSEE REGARDING USE OF PREMISES: Lessee agrees and understands that the premises subject to this lease is a public facility used for emergency response purposes. As such, the Lessee acknowledges that any and all disturbances, including noise, smell, etc. created or as a consequence of the City of Bremerton Fire Department's use of the premises will not affect the Lessee's quiet enjoyment of the premises. 5. UTILITIES. Lessor agrees to provide and pay all charges for heat, electricity, gas, water, sewer and for all other utilities which shall be used in the Premises during the full tenn of this Lease; proi�idec� hrna�evef•, that Lessor shall not be responsible for failure of provision of these services if due to causes beyond its control and provided..firrthe�•, that Lessor shall pay for any such charges as Lessor, in its reasonable discretion, may determine are the consequence of special equipment employed by or special requirements of Lessor. 6. ALTERATIONS ANll ADllITIONS. Lessee shall not make or allow to be made any alterations, improvements, or changes to or of the Premises or any party thereof without the prior written consent of Lessor. With respect to such alterations, improvements or changes to the Premises requested by Lessee, Lessor consent shall not be unreasonably withheld. in the event I,essor consents to the making of any alterations, additions, or improvements to the Premises by Lessee, the same sliall be made by Lessee at Lessee's sole cost and expense, the Premises and Lessee's leasehold interest therein shall remain free from any lien of any kind whatsoever, and construction of such alterations, additions or improvements shall be done in compliance with all laws and governmental requirements. 7. MAINTENANCE AND �tEPAIRS. (a) Lessee's Obligations. By taking possession of the Premises, Lessee shall be deemed to have accepted the Premises as being clean and in good order, condition, and repair. Lessee shall, at Lessee's expense, keep the Premises and every part thereof in good condition and repair (except as hereinafter provided with respect to Lessor obligations set forth in paragraph 7(b) below). Lessee shall, upon the expiration or sooner termination of this Lease, sun�ender the Premises to Lessor in good condition, clean, excepting only ordinary wear and tear and destruction or damage by such conditions over which Lessee has no control, or such damage as �nay be due to the failure of Lessor to comply with any covenant herein contained to be performed by Lessor. Damage caused by Lessee's use of the I'remises shall be repaired at the sole cost and expense of Lessee. (b) Lessor Obligations. Lessor shall, at Lessor's expense, repair and maintain the structural portions of the Building, including the roof, foundation, bearing and exterior beams and supports, flooring and subflooring, plumbing, pipes, electrical wiring and conduits within and serving the premises. There shall be no abatement of Rent and no liability of Lessor by reason of any injury to or interference with Lessee's business arising from the making of any repairs, alterations, or improvements in or to any portion of the Building or the Premises or in or to fixtures, appurtenances, and equipment if Lessor shall have taken every reasonable measure to avoid any such injury and interference. Coitirectiar Credit Uirio�r 8. LIENS. Lessee shall keep the Premises, Lessee's leasehold interest therein and the Building and Land on which the Premises are situated free from any liens arising out of any work performed, materials furnished, or obligations incurred by Lessee. " 9. INDEMNIFICATION. Lessee shall indemnify, defend and hold Lessor harmless from all loss damage, liability or expense resulting from any injury to any person or any loss of or damagc to any property caused by or resulting from any act or omission of Lessee or any ofticer, agent, employee, guest, invitee or visitor of Lessee in or about the Premises or the Building, but the foregoing provision shall not be construed to make Lessee responsible for injuries to third parties caused by the negligence of Lessor or any officer, agent, employee, guest, invitee or visitor of Lessor. Lessor shall not be ]iable for any loss or damage to person or property sustained by Lessee, or other persons, which may be caused by theft or any act of neglect of any Lessee or occupant of the building, or of any other person, or by any other cause, unless caused by the negligence of Lessor or its officers, licensees, agents, employees, guests, invitees or visitors. 10. LIABILITY INSURANCE; 11. (a) I.iability Insurance. Lessee, at its own expense, shall provide and keep in force with companies acceptable to Lessor comprehensive general liability insurance in the amount of not less than One Million Dollars ($1,000,000.00) per occurrence for bodily injury and property damage. Lessee shall fiirnish Lessor with a certificate of such policy within thirty (30) days of the Commencement Date of this Lease and whenever required shall satisfy Lessor that such policy is in fiill force and effect. Such policy shall name Lessor as an additional insured and shall be primary and noncontributing with any insurance can•ied by Lessor. The policy shall further provide that it shall not be canceled or altered without twenty (20) days prior written notice to Lessor. 12. PEItSONAL PROPERTY. Where furnished by or at the eapense of Lessee, all movable property, furriiture, furnishings and trade fixtures, other than those affixed to the Premises so that they cannot be removed witliout material damage, shall remain the property of and be removable by Lessee, and in case of damage by reason of such removal, Lessee shall restore the Premises, Building or common areas to good order and condition. Lessee shall pay or cause to be paid before delinquency any and all taxes levied or assessed and which bccome payable during the term hereof upon all Lessee's Lessee Improvemcnts, equipment, filrniture, fixtures, and other personal property located in the Premises. 13. ASSiGNMEN�' AND SUBLETTING. Lessee shall not either voluntarily or by operation of law assign, transfer, mortgage, pledge, hypothecate, or encumber this Lease or any interest therein and shall not sublet the Premises or any part thereof or any right or privilege thereto or allow any person (the employees, agents, servants, and invitees of Lessee excepted) to occupy or use the Premises or any portion thereof, without the prior written consent of Lessor. Any such assignment or subletting without compliance with the terms of this paragraph shall be void and shall, at the option of Lessor, constitute a default under the terms of this Lease. If 4 Conneetioit Credit Union Lessee is a corporation, any transfer of this Lease from Lessee by merger, consolidation, or ' liquidation or any change in the ownership or power to vote in the majority of the outstanding voting stock of Lessee shall constitute an assignment for purposes of this paragraph. Lessor's consent to one assignment, subletting, occupation, or use by any other person shall not be deemed to be a consent to any subsequent assignment, subletting, occupation, or use by another person. Consent to any such assignment or subletting shall in no way relieve Lessee of any liability under this Lease. Lessor may assign the Rent herein provided to any person, partnership, corporation, or bank, and Lessee agrees when notified in writing by the assignee of such assignment to make the Rent payments to assignee under the ternls of said assignment. 14. LESSEE'S DEFAULT. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Lessee. (a) Abandonment. Lessee vacates or abandons the Premises; (b) Failure to Pay Itent. Lessee fails to make any payment of Rent or any other payment required to be made by Lessee hereunder, as and when due; (c) Failurc to Observe Other Covenants. Lessee fails to observe or perform any of the covenants, conditions, or provisions of this Lease to be observed or performed by Lessee where such failure shall continue for a period of thirty (30) days after written notice thereof by Lessor to Lessee; provided, however, that if the nature of Lessee's default is such that more than thirty (30) days are reasonably required for such cure, then Lessee shall not be deemed to be in default if Lessee commences such cure within said thirty (30) days and thereafter, diligently pursues such cure to completion; (d) Misrepresentation. Lcssee makes or has made or furnishes or has furnished any warranty, representation or statement to Lessor in connection with this Lease, or any other agreement to which Lessee and Lessor are parties, which is or was false or misleading in any material respect when made or furnished; or (e) lnsolvency. Lessee shall become insolvent or go into bankruptcy. 15. ItEMEDIES ON DEFAULT. (a) Termination and Entry. In the event of any default or breach by Lessee, Lessor may, at any time thereafter with or without notice or demand in the exercisc of a right or remedy which Lessor may have by reason of such default or breach, terminate this Lease by written notice to Lessee, reenter and take possession of the Premises without termination of this Lease, or pursue any remedy allowcd by law. Lessee agrees to pay Lessor the cost of recovering possession of the Premises, the expense of reletting, and any other costs or damages arising out of Lessee's default including, without limitation, the costs of removing persons and property from the Premises, the costs of repairing or altering the Premises for reletting, brokers' commissions, 5 Co�r�rection Credi! Union and legal expenses and fees. Notwithstanding any termination, reentry, or reletting, the liability of Lessee for the Rent and Additional Rent for the balance of the term of this Lease shall not be extinguished and Lessee shall pay and Lessor may recover from Lessee at the time of termination, reentry, or reletting, the excess, if any, of the amount of the Rent reserved in this Lease for the balance of the term hereof over the then reasonable rental value of the Premises for the same period. Reasonable rental value shall mean the amount of rental which Lessor does or could reasonably be expected to obtain as rent for the remaining balance of the Lease term. In the event that Lessor relets the Premises or any part thereof without first tern�inating Lessee's right to possession pursuant to this Lease, Lessor reserves the right, at any time thereafter, to elect to terminate Lessee's right to possession to that portion of the Premises for the default that originally resulted in the reletting. (b) Removal of Personal Property. In the event of a retaking of possession of the Premises by Lessor, Lessee shall remove all personal property located thereon and upon failure to do so upon demand of Lessor, Lessor may remove and store the same in any place selected by Lessot�, including but not limited to a public warehouse, at the expense and risk of Lessee. If Lessee shall fail to pay the cost of storing any such property after it has been stored for a period of thirty (30) days or more, Lessor may sell any or all of such property at a public or private sale and shall apply the proceeds of such sale first to the cost of such sale, secondly to the payment of the charges for storage, if any, and thirdly to the payment of any other sums of money w�hich may be due trom Lessee to Lessor under the terms of this Lease, and the balance, if any, to Lessee. Lessee hereby waives all claims for damages that may be caused by Lessor's lawfully reentering and taking possession of the Premises or lawfully removing and storing the property of Lessee as herein provided and will save Lessor harmless from loss or damages occasioned by Lessor thereby regardless of whether such lawful reentry shall be considered or construed to be a forcible entry. (c) Remedies Cumulative. The remedies hereinafter described shall be cumulative and Lessor shall be entitled to pursue any other remedy now or hereafter available to Lessor under the law or judicial decisions of the State of Washington. 16. LESSOR'S DEFAULT. Lessor defaults if it fails to observe or perform any of the covenants, conditions, or provisions of this Lease to be observed or performed by Lessor, where such failure shall continue for a period of thirly (30) days after written notice thereof by Lessee to Lessor; provided, however, that if the nature of Lessor's default is such that more than thirty (30) days are reasonably required for such cure, then Lessor shall not be deemed to be in default if Lessor cominences such cure within said thirty (30) days and thereafter, diligently pursues such cure to completion. In the event Lessor fails to cure such default, Lessee may, at any time thereafter, terminate this Lease by written notice to Lessor. Lessee may also seek any other remedy provided by law. 17. I�AZARDOUS SUBSTANCFS. I,essee shall not generate, release, spill, store, deposit, transport, or dispose of (collectively "Release") any hazardous substances, sewage, petroleum products, hydrocarbons, radioactive substances, medicinal, bacteriological,�or disease- producing substances, hazardous materials, toxic substances or any pollutants or substances � Con��ection Credit Union defined as hazardous or toxic in accordance with applicable federal, state, and local laws and regulations ("Hazardous Substances") in, on or about the Premises. Lessee shall indemnify, defend and hold Lessor harmless from any and all claims, liabilities, losses, damages, cleanup costs, response costs, and expenses (including reasonable attorneys' fees) arising out of or in any way related to the Release by Lessee, or any of its agents, representatives, or employees, or the presence of such Hazardous Substances in, on or about the Premises occurring at any time after the Commencement Date and arising out of the activities of Lessee, or any of its agents, representatives or employees. The provisions of this paragraph shall survive termination or expiration of this Lease. 18. GENERAL PItOVISIONS. I�essor and Lessee agree to the following general provisions: (a) Waiver. No waiver of default by either party of any of the terms, covenants and conditions hereof to be perfoi kept and observed by the other party shall be construed as, or operate as, a waiver of any subsequent default of any of the terms, covenants and conditions herein contained, to be performed, kept and observed by the other party. The subsequent acceptancc of Rent hereunder by Lessor shall not be deemed to be a waiver of any preceding default by Lessee of any term, covenant, or condition of this Lease other than the failure of Lessce to pay the particular rental so accepted, regardless of Lessor's knowledge of such preceding default at the time of the acceptance of such Rent. (b) Time. Time is of the essence of this Lease for each and all of its provisions in which performance is a factor. (c) Paragraph �Ieadings. The paragraph or section headings of this Lease are not a part of tllis Lease and shall have no effect upon the construction or interpretation of any part hereof. (d) Successors and Assigns. The covenants and conditions herein contained, subject to the provisions as to assignment, apply to bind the heirs, successors, executors, administrators, and assigns of the parties hereto. (e) Recordation. Neither Lessor nor Lessee shall record this Lease, but a short form memorandum hereof may be recorded at the request of Lessor. (t) Quiet Possession. Upon Lessee paying the Rent reserved hereunder and perforniing all of the covenants, conditions, and provisions on Lessee's part to be observed and performed hereunder, Lessee shall have quiet possession of the Premises for the entire term hereof, subject to all the provisions of this Lease. The Yremises are leased subject to any and all existing encumbrances, conditions, rights, covenants, easements, restrictions, rights-of-way, and any matters of record, applicable zoning and building laws, and such matters as may be disclosed by inspection or survey. 7 Connectio►r Credit Union (g) Prior Agreements. This Lease contains all of the agreements of the parties hereto with respect to any matter covered or mentioned in this Lease and no prior agreements or understandings pertaining to any such matters shall be effective for any purpose. No provision of this Lease may be amended or added to except by agreement in writing signed by the parties hereto or their respective successors in interest. This Lease shall not be effective or binding upon any party until fully executed by both parties hereto. (h) Inability to Perform. The time period within which any party is to fulfill an obligation of such the pariy under this Lease shall be extended by such time period that any party is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike, labor troubles, acts of God, or any other cause beyond the reasonable control of such party. (i) Severability. Any provisions of this Lease which shall prove to be invalid, void, or illegal shall in no way affect, impair, or invalidate any other provision hereof and such other provision shall remain in full force and effect. (j) Cumulative Remedies. No remedy or election hereunder shall be deemed eaclusive but shall whenever possible be cumulative with all other remedies at law or in equity. (k) Choice of Law. This Lease shall be construed under all of the applicable laws, statutes, ordinances, rules and regulations of the United States, the State of Washington, County of Kitsap, and the City of Bremerton. In the case of a dispute between the parties, venue over such dispute shall be with the Superior Court of Kitsap County, Washington. (1) Execution. This Lease may be executed in several counterparts, each of which shall be deemed an original instrument. (m) Notices. All notices to be given hereunder shall be in writing and shall be personally delivered and receipt acknowledgcd, sent by United States certified mail, return receipt requested, sent by facsimile, with original delivered within three (3) days, or sent by overnight delivery through public or private service, delivery charge prepaid, and addressed to the parly at the respective mailing address as herein set forih. To Lessor: Fire Chief City of Bremerton 911 Park Avenue Bremerton, WA 98337 To Lessee: Connection Credit Union. P.O. Box 3990 Silverdale, WA 98383 8 Co�tnectinir Credit Uirion It is understood that each party may change the address to which notice may be sent by giving a written notice of such change to the other party hereto in the manner herein provided. (n) Lessee's Corporate Authority. Lessee is a Washington corporation, and each individual executing this Lease on behalf of said corporation represents and wan•ants that he or she is duly authorized to execute and deliver this Lease on behalf of said corporation, in accordance with a duly adopted resolution of the board of directors of said corporation or in accordance with the bylaws of said corporation, and that this Lease is binding upon said corporation in accordance with its terms. Lessee further represents and warrants that it is fully registered and qualified to do business in the State of Washington. IN WITNESS WHEREOF, the parties hereto have executed this Lease the day and year tirst above written. LESSOR CI'TY OF BR�MEI2TON � � By: Pa L nt Its: ayor ��, LESSEE CONNECTION CREDIT iJNION By: .��v tt /� �� Its: /J.�,�.�i �/er.Lf 9 Co�lirectinu Credit Union STATE OF WASHINGTON ) ) ss. COUNTY OF KITSAP ) I certify that I know or have satisfactory evidence that Pariy Lent is the person who appeared before me, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument, and acknowledged it as the Mayor of the City of Bremerton to be the free and voluntary act of such City for the uses and purposes mentioned in the instrument. DATED: ����!'1 � ��.>`���on � �;>,, � ��........�. p �i ��` �'�'�� � �` • � • � i : � ��I ��� �� ` ` a�Y i � _ = ; N Pub�;c : � ► �,. � 4� � ��: � � °. e .� i�_�o�e,.. �o ,,• e� 'M.....•• O� � �si� �VOSh� `����� STATE OF WAS�fP�6#3�eG)1�? ) ) ss. COUNTY OF KITSAP ) �� ��/ � ` NOTARY PUBLIC in and the St e of Washington, residing at • My commission expires / I certify that 1 know or have satisfactory evidence that ��� � 1 D 1� is the person who appeared before me, and said person acknowledged that he/she signed this instrument, on oath stated that he/she was authorized to execute the instrument, and acknowledged it as the l, of Connection Credit Union, Inc. to be the free and voluntary act of such Corporation for the uses and purposes mentioned in the instrument. - f���;;o;;��� � �t� � .. . _ ' � '°�s��' � * ,� w �,, R:\Leeal\For t�'f�1�ee 1� NOTARY PUBLIC in and for the State of Washington, residing at ���? �-�9 Q�7,1� My commission expires � 1� Connection Credit Union � .-.. c � n 0 ; �o � � C 0 EXHIBIT "A" _�_�___ � MECHANICAL � !� MF77. �r----�J � � KTl'CFffiTl �� �r EXIT �-- z -� �r : � �;: � . EXIT ��� L ! sTOxACE MF'77. LEGEND � Sole Credit Union Use � Joint Schedufed Use Contract Number: 14603558 COI Number: 094747-005 CUMIS INSURANCE SOCIETY, INC. CERTIFICATE OF INSURANCE '1)- 6 C4 I This is to certify that such insurance policies as indicated below by policy number have been issued on forms in current use by the Society. Hazards covered are indicated by (X). This CERTIFICATE OF INSURANCE neither affirmatively nor negatively amends, extends, or alters the coverage afforded by these policies. The insurance afforded by the policies described herein is subject to all the terms, exclusions and conditions of such policies. Aggregate limits shown may have been reduced by paid claims. This certificate is issued as a matter of information only and confers no rights upon the certificate holder. Name and Address of Certificate Holder .• City of Bremerton 911 Park Ave Bremerton WA 98337 1550 Type of Insurance Policy Number Expiration Date Limits of Liability WORKERS' COMPENSATION Statutory EMPLOYERS' LIABILITY COMPREHENSIVE $1,000,000 Each Occurrence ✓ GENERAL LIABILITY 046288 12/18/2017 $3,000,000 Policy Aggregate (X) OCCURRENCE (X) Policy Aggregate Limit AUTOMOBILE LIABILITY Combined Single Limit ( ) Owned Automobiles Each Occurrence ( ) Hired Automobiles ( ) Non-Owned Automobiles ( ) Repossessed Automobiles EXCESS LIABILITY $1,000,000 Each Occurrence (X) OCCURRENCE 046288 12/18/2017 $3,000,000 Policy Aggregate (X) Policy Aggregate Limit Should any of the described policies be cancelled before the expiration date noted, the Society will mail 45 days prior written notice of such cancellation to the above named Certificate Holder. The mailing of the notice shall be sufficient proof of notice. Description and location of operations and/or automobiles and/or property covered: Connection Credit Union's proof of insurance for premises and operations at the 911 Park Ave.,Bremerton,WA 98337 location. Refer to CUPOP 61 02 Additional Insured endorsement for details. Name and Address of insured: Date: 09/07/2016 CONNECTION CREDIT UNION PO Box 3990 By: Silverdale WA 98383 3990 AUTHORIZED REPRESENTATIVE CGA 200 A27 08 10 CUMIS Insurance Society,Inc. Page 1 of 2 58 1 02362818 59 I' (110001 CUNA Mutual RightFax 9/22/2016 6:09:04 PM PAGE 3/004 Fax Server 046288 ADDITIONAL INSURED ENDORSEMENT PREMISES YOU LEASE PROPERTY AND BUSINESS LIABILITY POLICY Various provisions in this Policy restrict Coverage. Read the entire Policy carefully to determine rights, duties and what is and is not covered. The Common Policy Provisions apply to this endorsement. This endorsement modifies the Business Liability Coverage. Designation of Premises (Part You Lease): 911 Park Ave Bremerton WA 98337 1550 Name of Person or Organization (Additional Insured : City of Bremerton 911 Park Ave Bremerton WA 98337 1550 WHO IS AN INSURED Who Is An Insured The following is added to the Who Is An Insured provision in the Business Liability Coverage: The person or organization shown on this endorsement is also an insured, but only with respect to "bodily injury," "property damage," "personal injury" or "advertising injury" arising out of the ownership, maintenance or use of that part of the premises designated on this endorsement, leased to you,and subject to the following Additional Exclusions: The insurance does not apply: 1. To any"occurrence"which takes place after you cease to be a tenant in said premises;or 2. To structural alterations, new construction or demolition operations performed by or on behalf of the person or organization designated above. However; 1. The insurance afforded to such additional insured only applies to the extent permitted by law;and 2. If coverage provided to the additional insured is required by a contract or agreement, the insurance afforded to such additional insured will not be broader than that which you are required by the contract or agreement to provide for such additional insured. BU 09/07/16 CUPOP 61 02 0414 CUMIS Insurance Society,Inc. Page 1 of 2 Includes copyrighted material of Insurance Services Office,Inc.,with Its permission. CUNA Mutual RightFax 9/22/2016 6: 09: 04 PM PAGE 4/004 Fax Server ADDITIONAL INSURED ENDORSEMENT PREMISES YOU LEASE PROPERTY AND BUSINESS LIABILITY POLICY ADDITIONAL CONDITION Limit Of Insurance With respect to the insurance afforded to the additional insured, the following is added to the Limit Of Insurance Additional Condition in the Business Liability Coverage: If coverage provided to the additional insured is required by a contract or agreement, the most we will pay on behalf of the additional insured is the amount of insurance: 1. Required by the contract or agreement;or 2. Available under the applicable Limits Of Insurance shown on the Declarations, whichever is less. This endorsement shall not increase the applicable Limits Of Insurance shown on the Declarations. BU 09/07116 CUPOP 61 02 04 14 CUMIS Insurance Society, Inc. Page 2 of 2 Includes copynghted material of Insurance Seances Othce,Inc.,wth its permission.