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HomeMy WebLinkAbout2989 Vendor Subject Department Status Code Amount Begin Date End Date Review Date Insurance Comments Contract Number 2989 KITSAP BANK (formerly NATIONAL BANK OF BREMERTON) Lebo Boulevard Engineering ROW File Class LEG 16-3 $ 01/01/1988 12/31/2005 02/15/2007 GL AL E&O $2000000.00 $ $ Insurance Total Insurance Review Date $2000000.00 06/01/2007 Vault 01/01/2007 ASSIGNMENT OF LEASE This Assignment of Lease ("Assignment") is made on this .~ day of []~0, , 1997, betw~n THE CITY OF BREMERTON, a municipal corporation duly organize~ and existing under the laws of the State of Washington ("Landlord"), NORTHgFESTER~V BANK, N.A., a national banking association ("Assignor"), and KITSAP BANK, a Washington state bank ("Assignee"), who agree as follows: 1. Recitals. This Assignment is made with reference to the following facts and objectives: a. Landlord and Assignor~ as tenant, entered into a written lease dated June 1, 1988, (the "Lease"), in which Landlord leased to Assignor and Assignor leased from Landlord the premises located in the City of East Bremerton, County of Kitsap, Washington, as more particularly described on Exhibit "A" attached to this Assignment and made a part hereof by this reference (the "Premises"). b. Assignor desires to assign all of its right, title, and interest in the Lease to Assignee. c. Landlord consents to the proposed assignment on the conditions set forth in this Assignment. 2. Effective Date of Assignment. The assignment in this agreement shall take effect on January 14, 1997, and Assignor shall give possession of the Premises to Assignee on that date. 3. As,~ignment and Assumption. Assignor assigns and transfers to Assignee all its right, title, and interest in the Lease, and Assignee accepts the assignment and assumes and agrees to perform, from the date the assignment becomes effective, as a direct obligation to Landlord, all the provisions of the Lease. 4. Landlord's Consent. Landlord consents to the assignment without waiver of the restriction concerning further assignment. 5. Assignor's Liability. Landlord releases Assignor from all liability for the performance of the provisions of the Lease. 6. Miscellaneozts. a. Attorneys' Fees. If any pa~:y commences an action against any of the parties arising out of or in connection with this Assignment, the prevailing party or parties shall be entitled to recover from the losing party or parties, reasonable attorneys' fees and costs of suit. b. Notice. Any notice, demand, request, consent, approval, or communication that either party desires or is required to give to the other party or any other person, shall be in writing and either served personally or sent by prepaid, first class mail. Any notice, demand, request, consent, approval, or communication that either party desires or is required to give to the other party shall be addressed to the other party at the address set forth below. If to Landlord: The City of Bremerton If to Assignor: Northwestern Bank, N.A. 550 Park Avenue Bremerton, WA 98337 If to Assignee: Kitsap Bank Post Office Box 9 Port Orchard, WA 98366-0009 Either party may change its address by notifying the other party of the change of address. notice shall be deemed communicated within 48 hours from the time of mailing if mailed as provided in this paragraph. c. Successors. This Assignment shall be binding on and inure to the benefit of the parties and their successors. IN WITNESS WHEREOF, the parties have signed this Assignment the day and year first above indicated. "LANDLORD": The City of Bremerton, a municipal corporation , Mayor · City Clerk/ DEPARTM~/~VAL BY: By: ' Engineer A P P R O.,~.~'~ S,/TO~ O RM: ,J' , City Attorney "ASSIGNOR": Northwestern Bank, N.A., a national banking association Name(Print): h//- ~.! ~'~ Title(Print): "ASSIGNEE": Kitsap Bank, a Washington state bank By:. Name(Print): Title(Print): Legal Descriotion of Premises Beginning at the intersection of the North margin of Lebo Boulevard, with the West margin of Wheaton Way (SR 303); thence West along said North margin a distance of 140 feet to the true point of beginning; thence continuing westerly along said North margin a distance of 145 feet; thence southerly perpendicular to said North margin a distance of 5 feet; thence easterly parallel to said North margin 127.5 feet; thence South perpendicular to said North margin a distance of 5 feet; thence easterly parallel to said North margin a distance of 5 feet; thence North perpendicular to said North margin a distance of 5 feet; thence easterly parallel to said North margin a distance of 12.5 feet, plus or minus to a point 5 feet South of an perpendicular to the True Point of Beginning; thence Northerly 5 feet to the True Point of Beginning. This area of this parcel is 750 square feet. LEASE AGREEMENT THIS LEASE AGB~E~T entered into by and between the City of Bremerton, a municipal corporation duly organized and existing under the laws of the State of Washington, as Lessor (hereinafter referred to as "City"), and National Bank of Bremerton, a Washington State banking institution, (hereinafter referred to as "Lessee"), this /~ day of ~ , 1988. W ITNES SETH; 1. Premises. The City is the legal owner of the following described real property: Beginning at the intersection of the N margin of Lebo Blvd. with the W margin of Wheaton Way (SR 303); thence W along said N margin a distance of 140 feet to the true point of beginning; thence continuing Westerly along said N margin a distance of 145 feet; thence Southerly perpendicular to said N margin a distance of 5 feet; thence Easterly parallel to said N margin 127.5 feet; thence S perpendicular to said N margin a distance of 5 feet; thence Easterly parallel to said N margin a distance of 5 feet; thence N perpendicular to said N margin a distance of 5 feet; then Easterly parallel to said N margin a distance of 12.5 feet, plus or minus to a point 5 feet S of and perpendicular to the True Point of Beginning; thence Northerly 5 feet to the True Point of Beginning. This area of this parcel is 750 square feet. The City hereby leases to the Lessee, and the Lessee hereby leases from the City the above-described real property, together with all the rights, privileges, easements and appurtenances thereon (hereinafter referred to as the "Premises"), for the uses and purposes described herein. 2. Uses and Purposes. Lessee shall have the use and occupancy of the Premises for the purpose of constructing and maintaining a driveway to a drive-up bank window and bank $~gna§e. Notwithstanding any other provisions herein, the Lessee shall not enter into any sublease of the premises or any portion thereof or any assignment of any interest in this Agreement, except Lessee's affiliates or subsidiaries, whether long or short term in nature, or engage in any activity with respect to or on -1- the premises other than the express use(s) and purpose(s) stipulated herein, without obtaining the prior written authorization therefor from the City. It is understood and agreed that the Lessee's ability to use the property for the "use" as described herein is contingent upon the Lessee obtaining and maintaining after the execution date of the Agreement all certificates, permits and any other approval as may be required by any federal, state, or local authorities. Lessor shall cooperate with the Lessee in its efforts to obtain such approvals and shall take no action which would adversely affect the current use of the property with respect to the proposed use thereof by the Lessee. Lessee agrees to use the facilities leased hereunder only for the purpose contemplated herein and to comply with all applicable state, county, or municipal laws and ordinances. Lessor shall have the exclusive right to inspect the Lessee's facilities and equipment at any time during the term(s) of this Agreement to ensure compliance with terms and conditions herein. 3. Term. The term of this lease, and any extensions, shall be as follows: Month-to-month lease beginning the first day of June, 1988. Lessee shall abide by all of the terms and conditions of this lease and shall pay rent to the City as hereinafter set forth. In the event of the inability of the City to deliver possession of the premises, or any portion thereof, at the time of the commencement of the term of this lease, neither the City nor any of the City's officers, employees, or agents shall be liable for any damage caused thereby, nor shall this lease thereby become void or voidable, nor shall the term herein specified be in any way extended, but in such event, the Lessee shall not be liable for any rent until such time as the City can deliver possession. If the Lessee shall take possession of the premises prior to the commencement date of this lease, the Lessee -2- and the City agree to be bound by all of the provisions and obligations hereunder during such prior period. 4. Compensation. Lessee shall pay Lessor a monthly rental charge of Thirty-Three Dollars ($33.00) per month during the first year of this lease, beginning June 1, 1988. At the beginning of each successive year thereafter, the monthly rent shall aut~atically be adjusted in the "All Items" category of the Consumer Price Index for All Urban Consumer Scale (CPI-U) as published by the Bureau of Labor Statistics for the U.S. Department of Labor for the Seattle-Everett Metropolitan statistical area (1967=100), (the "Index"). The initial annual rent shall be subject to adjustment at the commencement of the second year of the term and each year thereafter as follows: a. The base for computing the adjustment shall be the Consumer Price Index published by the United States Department of Labor, Bureau of Labor Statistics, for All Urban Consumers for the Seattle area, (1967=100) which is published for the month of June, 1987 ("Basic Index"). If the Index published for the month of June of each subsequent year of the Term ("Extension Index") has increased over the Basic Index, the adjusted monthly installment of the rent for the following year (until the next rent adjustment) shall be set by multiplying the base rent by a fraction, the numerator of which is the Extension Index and the denominator of which is the Base Index. In no case shall the rent for a given year be less than the monthly rent in the preceding year. b. If any time during the term of the Lease the practice of computing the Index for the City of Seattle shall be abandoned or altered by the U.S. Department of Labor, and not assumed by some other federal or state governmental agency, then there shall be substituted therefor in Lessor's sole discretion the then most nearly comparable cost of living index. 5. Licenses and Permits. Upon commencement of the lease, Lessee shall be responsible for real property, excise, leasehold, business and occupation, and/or other taxes or -3- licenses which may now and/or in the future be assessed as a result of the Lessee's operations. 6. Liability. a. Insurance: During the term of this lease, the Lessee shall obtain and maintain a policy of property insurance in amounts acceptable to the City and a policy of public liability insurance in an amount of not less than Five Hundred Thousand Dollars ($500,000.00), to include injury to, or loss of life of, any individual person; personal injuries suffered in each occurrence; and property damage suffered in each occurrence, which may be related to Lessee's occupancy of the above-described property. Said insurance shall also name the City of Bremerton as an additional insured. b. Indemnity: Lessee shall indemnify and hold the City harmless from any and all claims whatsoever arising out of the use and occupation of said premises including claims arising by reason of accident, injury or death caused to persons or property of any kind occurring by the fault or neglect of the Lessee, its officers, employees, agents, licensees, or invitees, or occurring without the fault of neglect of the City. c. Liens: Lessee shall not permit any lien to be imposed upon the property of Lessor as a result of work done by or on behalf of Lessee and shall indemnify and hold Lessor harmless against any and all expenses, including reasonable attorney's fees and court costs in connection with any such lien. 7. Utilities. Lessor acknowledges that the Lessee may be required to supply the premises with utilities and/or improve the present utilities service to the premises. Lessee shall have the right to install utilities to and on the premises. Such utilities location shall be located as depicted on attached site plan (Attachment "A," incorporated herein by this reference). 8. Termination. This Lease may be terminated by either party upon written notice received by the other party -4- thirty (30) days prior to the first day of the next succeeding month. Such notice shall be given by certified mail, return receipt requested. 9. Surrender. Upon termination or expiration of this Agreement, the Lessee shall surrender such facilities to the Lessor in as good as condition as when initially leased, normal wear excepted. Lessee shall, within a reasonable period of time agreed to by both parties, remove its personal property and improvements and restore the property to its original condition, as determined by the City Engineer, reasonable wear and tear excepted. 10. Notices. All notices to be given by either of the parties hereto to the other party shall be in writing and may either be delivered personally or may be deposited in the United States Mail, postage prepaid, as either certified or regular mail, addressed as specified below, or to such other respective addresses as either party may from time to time designate in writing. Notices sent by mail shall be deemed to ahve been given 48 hours after properly mailed; the postmark affixed by the United States Post Office shall be conclusive evidence of the date of mailing. Lessor: City of Bremerton, City Clerk 239 Fourth Street, Bremerton, Washington 98310 Lessee: National Bank of Bremerton, 11. Relationship. In no event shall the City be construed, or held to have become in any way or for any purpose a partner, associate, or joint venturer of the Lessee or any party associated with the Lessee in the conduct of the Lessee's business or otherwise. This lease does not constitute the Lessee the agent or legal representative of the City for any purposes whatsoever. -5- 12. A~endments. The parties hereto expressly reserve the right to renegotiate the provisions hereof, including the term of this lease, from time to time as may be necessary and to amend this lease accordingly; provided, however, that no alteration or modification of the terms or conditions hereof shall be valid and binding unless made in writing and signed by the authorized representatives of the parties hereto. 13. Waiver of Default. No waiver of default by either party of any of the terms, covenants, and conditions hereof to be performed, 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. 14. Effectuation of Agreement. In order to be effective, this lease must be (1) signed by an authorized representative of the Lessee and returned to the City at the address set forth below accompanied by any required policy of insurance, and (2) signed by the Mayor of the City of Bremerton, and the City Clerk. THE CITY OF BREMERTON NATIONAL BANK OF BREMERTON Lessor Lessee 7 GENE 'LOBE P~esident~ 50 ~ Mayor KATHLEEN L. McCLUSNEY V.P./Secr6 ary City Clerk Depart~ntal app~val 1. iAN~/~ form: City Attorney STATE OF WASHINGTON) : SS COUNTY OF KITSAP ) On this day personally appeared before me Gene Lobe and Kathleen L. McCluskey, to me personally known to be the Mayor and the City Clerk, respectively, of the City of Bremerton, a municipal corporation, that executed the foregoing instrument and acknowledged to me that they signed and sealed the same as the free and voluntary act and deed of said municipal corporation and on oath stated that they were authorized to execute said instrument and that the seal affixed is the seal of said municipal corporation. WITNESS my hand and official seal this /3~ day ~-~L~ , 1988. NO TA State of Washin¢ at STATE OF WASHINGTON) : Ss couNTY oF ITSAP ) On this day ~Dersona~y appeared ~efo,re _ and ~.~ ~~/~, ~ and NATIONAL BANK~9~ BREMERTON~ ~o me known to be the escribed in and who executed the foregoing Agreement of Lease, and they acknowledged that they are duly authorized to sign and seal the same for the uses and purposes therein mentioned. WITNESS my hand and official seal this __~ day of ~A~ PU~LIC'~n and ~'or the ~'~"Sta~e''~f~ ~a~ington residing -7-