Laserfiche WebLink
WHEREAS, for continuity with current lease rate adjustment procedures, the yearly <br />Lease rate shall be increased by eight percent (8%) every five (5) years as a set Lease rate <br />increase through the Lease term; and <br />WHEREAS, this Lease Addendum hereby satisfies the Paragraph 3 "Rental Rate <br />Adjustment" clause per the lease terms. <br />NOW, THEREFORE, IT IS HERESY AGREED by and between the parties to a <br />change in rental rates and contract terms and Property as follows: <br />1) "Paragraph #2 - Rent" - Rental Rates for 09/01/2025 thru 08/31/2030 Term - will read <br />as follows for: <br />LOT H-34 Rate - .15 Acres (6,534 square feet) <br />TERM <br />Previous Rate Per Year <br />($.12 per Sq. Ft.) <br />Current Rental Rate <br />($.13 per Sq. Ft.) <br />Not including Leasehold <br />Tax* <br />$784.08 <br />09/01/2025 — 08/31/2026 <br />$849.42 <br />09/01/2026 — 08/31/2027 <br />$849.42 <br />09/01/2027 — 08/31/2028 <br />$849.42 <br />09/01/2028 — 08/31/2029 <br />$849.42 <br />09/01/2029 — 08/31/2030 <br />$849.42 <br />09/01/2030 <br />Renegotiate <br />• The current Leasehold Excise Tax is 12.8401o, as determined by the State of Washington and is subject to <br />change. <br />2) "Paragraph #3 — Rental Rate Adjustment" -- will read as follows: <br />On or before September I" of the fifth year, the yearly Lease rate shall be increased by <br />eight percent (8%) every five years as a set Lease increase and continue with said increase every <br />five years through the Lease term. <br />Lease Addendum (2) — Tyler Glahn <br />