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01. January
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2025-01-21 10:00 AM - Commissioners' Agenda
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Lease Amendment
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Last modified
2/5/2025 10:50:00 AM
Creation date
2/5/2025 10:49:32 AM
Metadata
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Template:
Meeting
Date
1/21/2025
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Fully Executed Version
Supplemental fields
Item
Request to Approve and Sign an Amendment to a Lease with Carrera Hangars Bowers Field, LP for Lot H-20A within the Aeronautical Area of Bowers Field
Order
18
Placement
Consent Agenda
Row ID
126584
Type
Resolution
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I l. Limitation of Liabiliry. Notwithstanding any of the provisions contained in this <br />Agreement,tn.ffiligationundertheGioundLease,evenifLenderforeclosesonits <br />,"i*ity interest, unless said Lender notifiis the Landlord in writing that it desires to substitute itself as <br />Tenant. Until Lender makes that election, said Lender may cure any and all defaults to keep said Lease <br />current so as to preserve the Lender's right to make an eleition to be substituted as Tenant at some later <br />date. <br />12. Fire Insurance. The paragraph in the Ground Lease relative to fire insurance shall be <br />modified as follows: r.*nt .t utt at all times carry, atits own expense, fire insurance and extended <br />""r"rug" <br />on all buildinj. "on.t*"t"d on the leasehold estate in the amount of not less than 80% of the <br />actual cash value, with?*puny acceptable to Landlord and Lender. Any such policy shall name <br />Landlord and Lender as the insurlds, with loss payable to the Landlord and Lender as their interests may <br />uoo;. Tenant shall provide evidence of such in*run"" to the Landlord. Said policy shall provide that <br />,tiJpori"y may not be cancelled without the company first giving Landlord and Lender at least thirly (30) <br />J"vi' *ritt"n notice prior to cancellation. No such policy shall contain a deductible clause greater than <br />$1,000.00 per claim. In the event of loss, Tenant shall pay such deductible sum. Landlord may, with <br />"pirr"""i "i the Lender and with the consent of Tenant, cover said buildings on a master fire insurance <br />;"t- and charge Tenant its share of the premium, which share of the premium shall be paid within ten <br />(10) days after demand. Failure to comply with any terms of this paragraph shall be considered a material <br />breach of the Ground Lease. <br />13. Application of Insurance Proceeds in the Event Qf I-oss. The provisions in the original <br />GroundLeasedealing@ceisamendedasfollows:Inthecaseofaloss <br />covered by insurance set forth in tie preceding paragraph, whether total or partial, and subject to the <br />terms and conditions of any secured instrumeiti on iaid premises relating to the application of insurance <br />;;;;;, Tenant shall exert its best efforts to have the iniurance proceeds applied to a reconstruction or <br />i.p"i, "f rfr" loss or damage to improvements. If Tenant elects not to rebuild, the proceeds of any <br />inlurun"" payable shall be-distributed, first to the retirement of any security interest on the improvements, <br />and the balance rfraff UL puvaUle to Landlord. Tenant shall give notice of any loss to Landlord and Lender <br />immediately and of intention to rebuild within sixty (60) days-of loss. If Tenant fails to give notice of <br />intention to rebuild *ithin the time specified, t-andloia shali then have the option to rebuild and shall give <br />Lender and Tenant noti* in writing of such lntention within one hundred twenty days (120) after <br />;.;;ilirg written notice of loss from Tenant, subject to sugh policy conditions goveming the replacement <br />cost provisions of any such policy. Ifeitler Lanilord or Tenant elects to rebuild as above provided, such <br />p"rty rtr"riinitiate the work of such rebuilding or repairing without delay' If both Landlord and Tenant <br />ili i.giur notice of intention to rebuild withi-n the iime specified, both Landlord and Tenant shall have <br />ifr" iigfi, to declare the Lease terminated by written notice served upon the other parly by mail as in the <br />G;;;J Lease provided. It is understood that if Tenant sublets the premises with the prior written consent <br />ofLandlord, and passes the expense offire, earthquake or other casualty insurance or ofliability <br />insurance on to its subtenant, tiren it will require uil intutun"" policies to name Landlord, Lender and <br />Tenant as insured parties as their interests may appear. Any- sublease shall contain the exact provisionsof <br />itl, ugr""*.nt as io the standards applied to ti-re setection of the insurer and in the amount and nature of <br />;;;;g" prior to the termination of the Ground Lease, either by expiration of the term or by notice as <br />provided in the Ground Lease, rent for the premises shall not abate as between Landlord and Tenant in the <br />ivent of loss or destruction of any buildings placed on the premises. <br />14. Removal of property. The provisions in the Ground Lease relating to removal of <br />property shall be amended as follows: <br />SUBORDINATION OF REVERSIONARY INTEREST (ELLENSBURG) <br />121 8'1 -5487 ILEG AL124047 121 .2 <br />PAGE 6
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