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HomeMy WebLinkAboutPort of Bremerton Parking lease mod. 1 final 10.26.22.docxPage 1 of 2 Lease Modification to Lease number 5932 between City of Bremerton and the Port of Bremerton Rev. 09/2021 LEASE MODIFICATION NO. 1 BETWEEN THE CITY OF BREMERTON AND PORT OF BREMERTON WHEREAS, on February 27, 2019, the City updated its lease of parking spaces at the 405 Washington Garage; and WHEREAS, the Lease provided the Port of Bremerton thirty (30) parking spaces on level (2) 2 of the 405 Washington Avenue Garage; and WHEREAS, both parties acknowledge that the Port of Bremerton has been utilizing the current Lease in “Hold Over” per Section 3.4 of the Lease; and WHEREAS, both parties would like to continue the use of all parking spaces, those allocated in the current agreement and those allocated via this modification, in hold-over status per Section 3.4 of the original agreement; and WHEREAS, the parties agree that all provisions in the original Lease shall remain in full force and effect except as expressly modified by this document; and WHEREAS, the parties wish to extend the number of parking spaces offered in the Washington Avenue Garage per the original Lease; now, therefore, For valuable consideration and by mutual consent of the parties, the parties modify the Lease as follows: I. Section 1. Property , is modified as follows: 1.1 Property Defined. Is removed in its entirety and replaced with the following: The City leases to lessee and the lessee leases from the City parking spaces in the Washington Avenue Garage (hereinafter “Parking Garage”), said Parking Garage legally described as follows: LOTS 18 TO 25, BLOCK 6, BREMERTON, AS RECORDED IN VOLUME 2 OF PLATS, PAGE 30, RECORDS OF KITSAP COUNTY, WASHINGTON. The parking spaces leased include thirty (30) full-time parking spaces on level two (P2) of the Parking Garage (“Parking Spaces”). The parking spaces leased further include an additional twenty-five (25) possible parking spaces available to Port tenants who place a City of Bremerton Parking Management Agent monthly permit in their front window. These spaces may be used by the assigned Port tenant to park in any available space on Levels P3 through P9 of the Parking Garage. Section 4. Lease Payment , is modified as follows: Section 4.1 Monthly Payment. Is removed in its entirety and replaced with the following: DocuSign Envelope ID: 8C6CF478-4F52-4DFF-A78C-186DED008766 Page 2 of 2 Lease Modification to Lease number 5932 between City of Bremerton and the Port of Bremerton Rev. 09/2021 The original Lease was a monthly amount of Four Thousand and Five Hundred Dollars ($ 4,500.00) plus leasehold tax as set forth in section 5.3 of the original lease. The new Lease is a monthly amount of Six Thousand, Six-hundred Dollars ($6,600.00) plus leasehold tax as set forth in section 5.3, as of November 1, 2022. The first installment shall be due and payable on or before the Commencement Date, and subsequent installments shall be due and payable on or before the same day of each month thereafter. II. Lessee accepts all requirements of this Lease Modification by endorsing below. Lessee further agrees that this Lease Modification constitutes full and final settlement of all and any Lessee claims. This Lease Modification does not limit the City’s right to bring a claim for rent past due or other amounts owing from Lessee to City. This document will become a supplement of the Lease and all provisions will apply hereto. It is understood that this Lease Modification shall be effective when approved by the City of Bremerton. The parties whose names appear below warrant that they are authorized to enter into a Lease modification that is binding on the parties of this Lease. In addition, Lessee warrants that it has or will inform the surety of this change, and shall take appropriate action to modify any bonds required under the Lease to address this change. IN WITNESS WHEREOF, the parties have executed this Lease Modification commencement date is effective as of November 1, 2022. Finance Director approved to process _________________________ (Initials and Date) LESSEE THE CITY OF BREMERTON By: By: Print Name: Print Name: Its: Its: Date: Date: APPROVED AS TO FORM: ATTEST: By: By: KYLIE J. FINNELL, Bremerton City Attorney ANGELA HOOVER, City Clerk R:\Legal\Legal\Forms\FORMS ON COBWEB\Lease Modification Rev. 09 2021.docx DocuSign Envelope ID: 8C6CF478-4F52-4DFF-A78C-186DED008766 10/28/2022 10/28/2022 CEO Jim Rothlin Mayor 10/28/2022 Greg Wheeler