2020/12/30 Council Agenda Packet

2. LEASED PREMISES. Landlord leases to Tenant, and Tenant leases from Landlord, the Leased Premises. Tenant has examined the Leased Premises and is in all respects familiar with the Leased Premises and the improvements in the Leased Premises and Buildings Tenant accepts the Leased Premises and its improvements in their "as is" condition. Tenant further acknowledges and agrees that (a) except as specifically provided in this Lease, Landlord has made no representations or warranties to Tenant with respect to the Leased Premises or the Building, (b) Tenant is not relying on any representations or warranties by any person regarding the Leased Premises or the Buildings, and (c) except for Landlord Work, if any described in Section 1 and Exhibit C to this Lease, Landlord has no obligation to construct any improvements to the Leased Premises or the Buildings. 3. TERM. The term of this Lease is for the Term stated in Section 1 of this Lease. The terms and conditions of one or more Extension Terms, if any, are provided in the attached Exhibit B. (a) If Landlord cannot deliver possession of the Leased Premises for any reason at the commencement of the Term, such non -delivery will not (i) cause Landlord liability for damages, (ii) cause the Lease to become void or voidable, or (id) cause the Term to be extended. However, in such event Tenant will not be liable for rent until Landlord can deliver possession, and if possession is delayed by over ninety (90) days, Tenant may terminate this Lease by written notice to Landlord, so long as the written notice is delivered to Landlord prior to delivery of possession of the Leased Premises to Tenant. (b) The Lease may be terminated by Landlord pursuant to its Special Termination Right set forth in Section 1 above, in addition to any other termination rights that may be contained in this Lease. 4. RENT. During the term of this Lease, Tenant shall pay the Base Rent by the first day of each calendar month of the Term to: Treasurer City of Everett 2930 Wetmore Avenue Everett, WA 98201 or such other place as Landlord may from time to time designate in writing. Tenant shall also pay to Landlord items described as "Additional Rent" in this Lease, including, without limitation, Leasehold Excise Tax (as defined below). If any rent is at any time, five (5) or more days past due, Tenant shall pay a late charge equal to ten percent (10%) of the past due rent. In addition, interest will accrue on the past due amount from the date due until paid in full at a per annum rate, which is the lesser of the highest interest rate permitted by applicable law or twelve percent (12%) per annum (the "Default Rate'). Tenant shall make all rent payments without deduction or offset. Rent for partial months, if any occur, will be prorated. 3