2018-09-24-minutes-public-works-study-session

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Upon receipt of such notification, and in the event the notification specified modification of the lease short of termination, Lessee shall have sixty (60) days in which to notify Kittitas County of Lessee's intention to continue the lease as modified or of Lessee's intention to treat the lease as terminated. In the event that Lessee elects to treat the lease as terminated, all rents shall be pro -rated to the date Lessee shall have restored the premises to the Lessor in accordance with the terms of the lease agreement governing Lessee's duties to restore the premises to Lessor upon expiration of the lease term. It is further agreed that neither such modification or termination of this lease nor any subsequent re -letting of the premises, in whole or in part, shall give rise to any cause of action for damages or any other form of relief by Lessee against Lessor or any successor lessee. In the event of such modification or termination, Lessee understands that other than a refund of any unearned rent prorated to the date Lessee has restored the premises to Lessor, Lessee shall have no claim for compensation as occasioned by said modification or termination. DISCUSSION: BOCC Attorney Suggested lan ug a¢e: RENT INCREASE TO FAIR MARKET VALUE: Lessee and Lessor agree that five (5) years from the execution of this lease, the rental rate shall be raised to Fair Market Value (FMV). FMV shall be established by Kittitas County, at its sole discretion. Lessor shall make the FMV adjustment by giving Lessee one hundred twenty (120) days written notice, notifying Lessee, at Lessee's address of record, that the lease to which this applied is being so modified. Upon receipt of such notification, Lessee shall have sixty (60) days in which to notify Kittitas County of Lessee's intention to continue the lease as modified or of Lessee's intention to treat the lease as terminated. In the event that Lessee elects to treat the lease as terminated, all rents shall be pro- rated to the date Lessee shall have restored the premises to the Lessor in accordance with the terms of the lease agreement governing Lessee's duties to restore the premises to Lessor upon expiration of the lease term. It is further agreed that neither such modification or termination of this lease nor any subsequent re -letting of the premises, in whole or in part, shall give rise to any cause of action for damages or any other form of relief by Lessee against Lessor or any successor lessee. In the event of such modification or termination, Lessee understands that other than a refund of any unearned rent prorated to the date Lessee has restored the premises Page 2 of 4 PUBLIC WORKS BOARD OF COUNTY COMMISSIONERS WORK SESSION STAFF REPORT