2017/01/04 Council Agenda Packet

5 LEASE AMENDMENT NO. 4 This Amendment No. 4 ("Amendment")for reference purposes is dated November 22, 2016,by and between NMV EVERETT,LLC hereinafter called("Landlord") and the City of Everett, a Washington State municipal corporation,hereinafter called ("Tenant"). This Amendment No. 4 concerns the lease between Landlord and Tenant dated December 15, 2008, as amended by Lease Amendment No. 1 dated December 2, 2010, and Lease Amendment No. 2 dated September 24,2012, and Lease Amendment No. 3 dated November 26, 2014, (as so amended,the"Lease"). The parties desire to renew the Lease and revise the option provisions of the Lease. Accordingly,the parties agree as follows: 1. Extension. The Lease is extended so that it expires on November 30, 2018. 2. Lease Term. The portion of Lease Section 1(b)that reads: "Lease Term: Two (2)years,with the option to extend for three(3) additional two(2)year periods." Is replaced with: "Lease Term: Two (2) years,with the option to extend for seven(7) additional two (2)year periods."For clarity,this means that at maximum the Lease could be extended until November 30, 2024. 3. Lease Term; Rent. The portion of Lease Section 3(c)that reads: "TENANT shall have the option to extend the term of the Lease for a maximum of three(3)additional two(2)year periods ("Extended Term")". Is replaced with: "TENANT shall have the option to extend the term of the Lease for a maximum of seven(7) additional two (2)year periods ("Extended Term")". 4. Rent.As referenced under Lease Section 1(c) and Section 3 (c),Rent for the initial extended term, expiring November 30, 2018, shall remain at the current rate of$10,350.00 per month. 5. Full Force and Effect. The parties agree that the Lease remains in full force and effect without interruption, except as expressly modified by this Amendment. As of the date of this Amendment,the parties know of no facts or circumstances that would constitute a default under the Lease. 1 of 4