HomeMy WebLinkAbout14-116 - Clear Channel Outdoor - Billboard Lease at Boulevard MotelC
Lease Number
12866
Ride
Description
Pac Hwy SsL339fS/nS|44rSt,
Street Address
14440 Pacific 1-1%vy. S,
14-116
Council Approval NiA
AMEN����ENT TO LEASE
LanU|ord(Leesor): ]aypa|&Pum� LLC
Tenant /Lessee\: (�LEARCHANNEL��UTDO[�R/ a Oe|awanecorporation ('CLEAR
��HA0NEL")
DnteofOrigina| Leose: 8/23/1997
DoteofthisAmnendmnent: 1O/1/2O11
NurnberofthiyArnendnment: ONE
IN CONSJDER/QION OF the aQreernents covenants, prorn|ses representaUons and
warrmnUes contained hene|n, and forsuch othergood and va|umb|e considenation, the receipt
and sufficiency of which is hereby acknowledged, the parties agree as follows:
1. Tenn: Theexp|nnUondateofthesubiect|easeshaUbeextendedunU|1O/16/2O21.
2. Rent: The rent shaU be $l,5O0 peryearytarting with the Octobe� 1G, 3O11
mnen� then increase ¢3OO peryearthereafter unti| the rent |s $2,4OO peryear
(4"' yemr). 8eginning the 5"' yearthe nentshaU increase $2OO [o $2,G0O ond |t shaU rernain Mxed mt thmt nmte fpr the bo|ance o[the terrn.
Signing 8onus: Upon the signing ofthis Amnendrnent by both pnrties, Tenant agpees
to pay LnnU|prd o one tirna, non-refundob|e signing bonus mf(]neThousnnd EiQht
Hundnedand no/l0D($1,8DO.00)do||ars.
��pas in�is�endme¢t��m��t���e��d�2�19���|n
unchanged, and are hereby ratified and confirmed.
IN��ITNESS��U�EREOF, thepo�kashoveexecutadth|sAnnendmnentasofthedate��t
appeahngabove.
TENANT:
| /
`^12,1/
Duane =��
LANDLORD:
Duane ?�e�� Lakhvir Singh Pawar,
President Managing Member, Jaspal & Puar, LLC
Date:
C|earChonne|Dutdoor
36Ol 6"'Avenue 5.
Seatt|w, VVA98134
Attention: Regional Real Estate Manager
Date: ]ospo|/�Pum� LLC
1444OPac|�cHwy. S.
Twkwi|a,VVA98168
S.S.N�T.I.N.: 3O-016224O
Phone: (206) 682-3833 Phone: 206-422-5801
Fax: (206) 447 -0377
Landlord Notary:
State of Washington
)ss
Landlord Notary
County of King C �)
On this Z day of SCp +talur , 2011 I certify that I know of have satisfactory evidence that Lakhvir
Singh Pawar, managing member of )aspal & Puar.LLC is the person(s) who appeared before me, and said
person(s) acknowledged that (he /she /they) signed this instrument and acknowledged it to be (his /her /their) free
and voluntary act and deed, for the uses and purposes therein mentioned.
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written
VON
WA
inn
Clear Channel Notary:
State of Washington
)ss
County of King )
(Name of Notary
NOTARY PUBLIC in and for the State of Washington
Residing at: f iiarb.e
My commission expires: 11 -Z t -LW¢
On this 2-4 day of OUD vv� , 2011 personally appeared before me Duane Weiss to me known to be
the individual, or individuals, described herein and who executed the within and foregoing instrument, and
acknowledged that she signed the same as her free and voluntary act and deed, for the uses and purposes therein
mentioned.
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above written
2
(Name of Notary
NOTARY PUBLIC in and for the State of Washington
Residing at:
My commission expires: v j— LI. rely.
Lease # 12866
Page 1 of 3
EDTA/NW
A NI E U�K[}[Tn[/\cKkKLK N0[U|xG x0Up
Date o ease: 1/2/���
1. Richard H. & Mu Yeon Min ("Lessor") hereby leases to AK Media/NW
and AK Media/NW hereby leases from Lessor the exclusive and sufficient right, for the purposes
described in this Lease, to use the property located in the City of Tukwila, County of King, State of
Washington, described as:
Parcel: 004000'0100'02
Legal Des: LOT 12'13&24-25BLK2 ADAMS HOME TRGS25FTOF12-13&N
75 FT OF 24-25 LESS ST RD
Location: Pacific Hwy. S. E/L23O'8/O S. 144'n St.
Commonly known as: 14440 Pacific Hwy. S.
as per map thereof recorded in the Office of the County Recorder of King County, State of
Washington, also referred to in this Lease as the "Property".
2. This Lease is for the purpose of AK Media/NW erecting, maintaining and/or operating painted,
phn$ed, iUuminohad, and/o, electrical advertising sign(s), including necessary supporting
structures, devk:es, and connections ( all collectively referred to in this Lease as^Advertising
Sign(s) ^). For the duration of this Lease, Lessor grants AK Media/NW license to enter the
property for these purposes.
3. The term of this Lease is for a period of fifteen (15) years from October 1G.1SSG (the "Effective
Date"). Thereafter, this Lease shall continue in full force and effect for like terms, unless either
party provides the other with written notice of termination not less than thirty (30) days before the
end of such term or continued term,
4. AK Media/NW shall pay to Lessor rental in the amount of Two Thousand four hundred dollars
($2400.00) per year. Rental shall be paid on an annual basis.
5. AK Media/NW shall hold Lessor harmless from all damage to persons or property resulting from
the neglect or willful acts on the Property of AK Media/NW's ogmnta, employees or workers in the
construction, maintenance, repair or removal of its,Advertising Signs.
6. Lessor agrees that he/sha, his/her tenants, agents, employees or any other persons acting on
his/her behalf shall not place or maintain any object on the Property or on any neighboring
property within Lessor's control which would in any way obstruct the view of the advertising copy
of AK Media/NW's Advertising Sign(s). If such an obstruction ocours. AK media/NW has the
option of requiring the Lessor to remove said obstruction or AK Media/NW may itself remove the
obstruction charging the cost of said removal to Lessor or AK Media/NW may reduce the rental
herein paid to the sum of Five Dollars ($5.00) per year so long as such obstruction continues.
Lessor agrees to allow AK Media/NW to trim or remove any trees blocking the clear view of the
advertising copy on Advertising Sign(s).
T. Lessor shall, upon thirty (30) days written notice to AK Media/NW, have the right to terminate
the Lwaoo, at any time during the period of this Lease if: (a) the Advertising Sign(s) reasonably
inhibits the remodeling of a permanent private, commercial or residential structure that exists on
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Lease #l%066
Page %w{3
the prop rty as of the date of this Leas .perp|ansthethavebeenoppmvedbytheoppmpriate
authorities; or (b) the Advertising Sign(s) reasonably inhibits the new construction of a permanent
privaba, commercial or residential bui|ding, per plans that have been approved by the appropriate
authorities. Lessor shall upon giving such notice of termination return to AK Media/NW all rent
paid for any unexpired portion of this Lease term. AK Media/NW shall remove the Advertising
Sign(s) within thirty (30) days after receiving a copy of the applicable building permit accompanied
by the approved plans that indicate how the Advertising Sign(s) shall reasonably inhibit the
remodel or new construction. Provided, if Lessor fails to pursue the remodel or new construction,
as described under this paragraph seven (7), within thirty (30) days after AK Media/NW removes
its Advertising Sign(s), AK Media/NW shall have the right to reconstruct the Advertising Sign(s)
and otherwise reoccupy the property as provided in this Lease. Provided further, AK Media/NW
shall have the right to terminate this Lease at the end of any monthly period upon written notice to
the Lessor served not less than thirty (30) days prior to the end of such monthly period.
8. AK Media/NW shaH have the first right hopuruheaetnapnmpertymsdesorbedinthinLeeme. If at
any time Lessor decides to offer the property for salo, the property shall first be offered to AK
Media/NW. If the parties cannot agree upon a price within thirty (30) days, Lessor will be free to
offer the property to any other party. In the event Lessor receives a Bona Fide offer to purchase
the property from another party. Lessor shall give AK Media/NW written notice of the terms and
conditions and a copy of the offer, and AK Media/NW shall have the right to purchase said
property under those same terms and conditions. AK Media/NW must receive a copy of the offer
within three (3) business days after offer is accepted by all applicable parties. AK Media/NW must
exercise this right within ten (10) business days after receiving the terms and conditions and a
copy of the offer.
9. AK Media/NW is and shall remairi the owner of the Advertising Sign(s), and shati have the right
to remove them at any time. Any failure or delay in removing the Advertising Sign(s) shall not
constitute waiver of Ackerley's rights or abandonment of the Advertising Sign(s) by AK Media/NW.
AK Media/NW shall have the right to permit others to place signs owned by them on the Property,
and such signs shall be subject to the terms and conditions of this Lease. AK Media/NW agrees
to clean area of any debris caused by AK Media/NW or any other party working on sign.
10. AK Media/NW shall be entitled to recover from any condemning authority payment for the Ioss
of its leasehold interest, Ioss of its Advertising 8iJn(s), and for all other losses for which AK
MediaJNW is otherwise entitled to recover under applicable Iaw, No governmental entity or quasi-
governmental agency may act as Lessor to terminate this Lease. Any governmental entity or
quasi-governmental entity must condemn the Advertising Sign(s) unless otherwise approved by
AK Media/NW.
11. This Lease, and any exhibit(s) attached to it, contain(s) the entire agreement between the
parties regarding the lease of the Property for the purposes described henain, and the terms of
this Lease are contractual and note mere recital. Neither party will be bound by any shmhnnmenbs,
wononUes, or pronnises, oral or written, unless such stahamento, warranties or promises are set
forth specifically in this Lease or an addendum hereto. Furthemnore, all terms of this Lease shall
remain confidential, and neither party to the Lwaae, nor any agent to such porty, shall disclose its
substance or content without the written permission of both parties or a court order. Provided,
that a memorandum of this Lease may be recorded at Ackerley's request.
12. In the event of any dispute arising out of this Lease, the prevailing party shall be entitled to
that party's reasonable attorney's fees and costs arising out of that dispute.
13. The word "Lessor" as used herein shall include all Lessors. This Lease is binding upon, and
inures to the benefit of the heirs, executors, successors and assigns of AK Media/NW and Lessor.
Lease # 12866
Page 3 of 3
14. Lessor represents and warrants that he/she is the owner(s) of the property covered by this
Lease and has the authority and right to execute this Lease. If Lessor is a corppration, each
individual executing and delivering this Lease on that corporation's behalf warrants that he or she
is duly authorized to do so. All rents to be paid pursuant to this Leaso, and all notices are to be
fomvardedtothaundersignedLessorottheaddneosnotedbe|mwtheLesso/saigneture.
EXECUTED by the Lessor in the presenc of
print name here
who is hereby requested to sign as a witness.
stgn here
AK Media/NW
3601 Sixth Avenue South
Seattle, Washington 98134
(206) 682-3833
NOTARY FOR AK Medi NW:
State Of tt.)m
County Of KING
On this / d day of ' 1-
before me personaily appeared P....vet
•
to me known to be the
P,«u��u./
of AK Media/NW, the corporation that executed the
within and foregoing instrument, and acknowledged
said instrument to be the free and voluntary act and
deed of said corponaUon, for the uses and purposes
therein mendonod, and on oath stated that he or
she was authorized to execute said instrument.
IN WITNESS WHEREOF, | have hereunto set my
hand and affixed my official seal, the day and year
first above written,
Name of Notary:
NOTARY PUBLIC
of WA-
in and for
. residing at:
LESSOR(S): (please sign here
By:
Lessor Name he
Address here
e
Phone number ere
S.Sm//ax/.u���^�-� ^n ~-�~��"�y
NOTARY FOR
State Of
County Of
On this day o
before me personaily appeared
/Li .tomeknow to be
U`e1 of
the corporation that executed he individuayor
the within and foregoing inotnumont, and
acknowledged said instrument to be the free
and voluntary act and deed of said
corporation, for the uses and purposes therein
mentioned and on oath stated that he or she
was authorized to execute said instrument.
IN WITNESS WHEREOF, 1 have hereunto set
my hand and affixed my official seal, the day
and year first above htet).
Name of Notary:
he State NOTARY PpBLIC in and for th State of
�
K8ycon�missionexpires: ~ �2 -0m
My commission expires: A-21-00