Ordinance 1818-91 - Laserfiche WebLink

AMENDED AND RESTATED LEASE THIS AMENDED AND RESTATED LEASE (the "Lease") is made as of the day of October, 1991e, by and between the City of Everett, a municipal corporation duly formed and existing under the laws of the State of Washington ("City") and Lumpkin, Inc. , a Washington corporation ("Lessor") . WITNESSETH: WHEREAS, City is the owner of certain unimproved real property located in the City of Everett and legally described in Exhibit A attached hereto and by this reference incorporated herein (the "Land") ; and WHEREAS, City is authorized by Chapter 35. 42 RCW to lease real property on terms and conditions that require the lessee to con- struct thereon certain building(s) and following completion of construction to lease back the building(s) so constructed; and WHEREAS, City has heretofore advertised for bids for the construction of a fire station on the Land (the "Improvements") which land will be ground leased to the Lessor; and WHEREAS, following completion of construction of the Improvements, Lessor shall lease the Leased Premises (as hereinafter defined) to the City pursuant to Chapter 35. 42 RCW; and WHEREAS, the Everett City Council has, by Resolution No. 3399 , adopted on November 21, 1990, declared the bid of Lessor to be the most advantageous to the City for construction of the Improvements and authorized acceptance of the bid; and WHEREAS, on December 12, 1990, simultaneously herewith, City and Lessor have executed a construction contract whereby Lessor agreed to will cause the construction of the Improvements on the Land in accordance with plans and specifications approved by City (the "Construction Contract") ; and WHEREAS, simultaneously with the execution of the construction contract, the City and Lessor executed a lease providing for the leading of the Improvements and underlying Land (the "Original Lease") ; and WHEREAS, Lessor and City have simultaneously with the execution of the Original Lease herewith executed a ground lease