Laserfiche WebLink
with such use limitations, the Leased Premises have nominal value <br /> to third parties; and <br /> WHEREAS, any ground lease rental charged hereunder will be <br /> passed directly on to the City by the Lessee hereunder, and the <br /> City has found that such rent pass through and the use <br /> restrictions on the Leased Premises result in a maximum feasible <br /> rental for the property of $100 for the entire term of this <br /> Ground Lease; and <br /> WHEREAS, City is authorized under the Constitution and the <br /> laws of the State of Washington to enter into this Ground Lease <br /> for the purposes set forth herein; <br /> NOW, THEREFORE, pursuant to law and for and in consideration <br /> of the mutual promises, covenants and conditions hereinafter <br /> contained the parties hereto agree as follows: <br /> ARTICLE I: LEASED PREMISES <br /> City hereby leases to Lessee, and Lessee hereby hires from <br /> City, certain unimproved real property, located in the City of <br /> Everett, Snohomish County, Washington with a street address of <br /> 5920 Glenwood Avenue, Everett, WA 98203 , and legally described <br /> in Exhibit A attached hereto and by this reference incorporated <br /> (the "Leased Premises") , subject to all easements, reservations, <br /> encumbrances and restrictions of record. <br /> ARTICLE II: TERM <br /> 2 . 1 Term. This Ground Lease shall be for a term commencing <br /> on the dated date of this Ground Lease (the "Commencement Date") <br /> and terminating on the date of termination or expiration of the <br /> Lease by and between the City and Lessee dated ,lam j� I q q0 , <br /> unless otherwise renewed, extended, or terminated in accordance <br /> with the terms and provisions hereof. <br /> 2 . 2 Possession. The City shall notify Lessee in writing of <br /> the earliest date that Lessee may begin to occupy the Leased <br /> Premises (the "Date of Possession") . It is anticipated that the <br /> Date of Possession shall occur on the date of execution of this <br /> Ground Lease. In event that the Date of Possession is delayed <br /> beyond "December 15 , 1990 , Lessee hereby waives, to the fullest <br /> extent permitted by law, any rights to and claims for damages <br /> occasioned by such delay. <br /> ARTICLE III : RENT <br /> Upon execution hereof, Lessee has paid to City the sum of <br /> One Hundred Dollars ($100) , which represents the fixed rent <br /> payable over the term of this Ground Lease. <br /> -2- DRS231 90/12/11 <br />