HomeMy WebLinkAbout1968 - Memorandum of Ground Lease - JC Penney - 64362596436259
MEMORANDUM OF GROUND LEASE
THIS MEMORANDUM OP GROUND LEASE, dated as of
September 16, 1968, by and between J. C. PENNEY PROPERTYES,
C•
F. INC., a Delaware corporation, having an orrice at 1301
Avenue of the Americas, New York, New York 10019 (Lessor),
and J. C. PENNEY COMPANY, INC., a Delaware corporation,
having an address. at 1301 Avenue of the Americas, New
York, New York 10019 (Lessee),
W I T N E S S E T H_
WHEREAS, Lessor and Lessee have entered into a
ground lease dated as of September 16, 1968 (the Ground
Lease), wherein Lessor has leased and demised to Lessee
the property described in Schedule A hereto, a copy of the
Ground Lease being held by each of the parties thereto;
WHEREAS, Lessor and Lessee desire to enter into
this Memorandum of Ground Lease which is to be recorded
in order that third parties may have notice of Lessee's
interest in said property and of the existence or the
Ground Lease;
NOW, THEREFORE, Lessor, in consideration of the
rents, covenants and agreements on the part of Lessee to
be paid and performed, hereby leases and demises to Lessee
RECEIVED
'AUG 2 7 2007
COMMUNITY
DEVELOPMENT
'vot 240 ,
the Property described in Schedule A hereto, together with
all buildings, structures and improvements constructed and .
to be constructed thereon and all easements, rights and &p-
a
if
CJ purtenances granted under the Ground Lease.
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The primary term of the Ground Lease shall begin
on November 19, 1968 and shall end at midnight on Febru-
ary 28, 1994. Lessee shall have the right to extend the
term of the Ground Lease for not more than six consecutive
extended terms of five years each, on the terms and condi-
tions set forth in the Ground Lease. If all such rights
to extend are exercised, the final date of expiration of
the Ground Lease will be February 28, 2024_ Lessee shall
have the right at any time during the term of the Ground
Lease to alter any building or structure upon the property
thereby leased, as set forth In the Ground Lease.
Lessor and Lessee agree that the certain un-
recorded lease dated as of June 11, 1965 between Lessor
as Landlord and Lessee as Tenant, as amended by agreement
dated as of January 27, 1968, shall be, and the same here-
by is, terminated, cancelled and annulled as of the date
hereof, it being the intention of the parties that the
Ground Lease supersedes the prior lease, as amended,
between Lessor and Lessee;
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int 240 mci ?77
All the terms, conditions, provisions and covenants
of the Ground Lease are incorporated in this Memorandum of
Lease by reference as though written out at length herein,
and the Ground Lease and thla Memorandum of Ground Lease
shall be deemed to constitute a single instrument or docu-
ment.
IN WITNESS WHEREOF, the parties hereto have exe-
cuted this Memorandum of Ground Lease as or the date first
above written.
Attest:
'Ass stant ret•.y
Attest:
J. C. 'ENNEY PROPERTIE i. ' :.
.• V • I k i �'; •S � .b.
By 6Q 1'l
lice- President
J. C. PENNEY COMPANY, INC.
401PRIllk
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By
Vice President ' _ . a
'YJ A 0-1 .
i .
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Schedule A
Deecription of Property
That portion of the NW 1/4 of the SE 1/4 and the NE 1/4 of the SW
1/4 of Section 26, Township 23 North, Range 4 East, W.M., in'[ing
County, Washington, described as follows! Beginning at the
northeast corner of the 8E 1/4 of said Section 26; thence N 88
degrees 05'42 W along the north line of said SE 1/4 a distance
of 1 998.68 feet to the west line of the east 659.34 feet of the
NV 1/4 of the 31 1/4 of said seotion 26; thence 3 01 degrees
47'29" W along said west line a distance of 658.25 feet; thecae N
ON 88 degrees 00'36° W a distance of 1;299.23 feet to the easterly
n4 margin of Ness Brothers County Road; thence S 01 degrees 08'35" W
,p along said easterly margin a distance IT 272.87 feet to the true
cl point of beginning; thence continuing 8 01 degrees 08'35 W Tong
v said easterly margin a distance of 387.17 feet to the south line
of said NE 1/4 of the SW 1/4; thence 8 87 degrees 55'53" E along
Bald south line a distance of 625.20 feet; thence S 87 degrees
55'02 E along the south line of the NW 1/4 of the SE 1/4 of said
Section 26 a distance of 266.26 feet; thence N 02 degrees 17'21
8 a distance of 591.55 feet; thence 14 88 degrees 00'36" W a
distance of 406.60 feet; thence N 78 degrees 45'15" W a distance
of 136.78 feet; thence N 88 degreeo 00'36" W a distance of 155.00
feet; thence S 01 degrees 08'35° W a distance of 225.00 feet;
thence N 88 degrees 00'36 ° ' W to the easterly margin of Mess
Brothers County Road a distance of 207.00 feet to the true point
of beginning.
Easement Area A
Together With a non - exclusive easement and right of way for the '
passage of motor vehioloa and pedestrians (but not the parking of
motor vehicles on) over the following described land: That
portion of the NW 1/4 -of the SE 1/4 and the NE 1/4 of the SW 1/4
of Section 26, Township 23 North, Range 4 East, M.M., in King
County, Washington, described as follows: Beginning at the
northeast corner of the 3E 1/4 of said Section 26; thence N 88
degrees 05'42 W along the north line of said 38 1/4 a distance
of 1998.68 feet to the west line of the east 659.34 feet of the
said NW 1/4 of the 38 1/4 of said Section 26; thence S 01 degrees
4 7'29 ° W along said west line a distance of 658.25 feet; thence N
88 degrees 00'36° W a diatanoe of 354.55 feet to the true point
be inning; thence continuing N 88 degrees 00'36" W a distance
of ; thence S 01 degreee.59'24" W a distance of 24.00
feet; thence N 88 degrees 00'36" W a distance of 310.00 feet;
thence N 01 degrees 59'24" E a distance of 24.00 feet; thence N
88 degrees 00'36° W to the easterly margin of Mess Brothers
County Road a distance of 561.68 feet; thence S 01 degrees 08'35"
W along said east margin a distance of 80.00 feet; thence N 83
degrees 08'53" E a distance 01 209.01_feet; thence 3 88 degrees
00'36° E a distance of 155.00 feet; thence 3'78 degrees 45'15° E
a distance of 136.78 feet; thence S 88 degrees 00'36" E a
distance of 446.60 feet; thence N 02 degrees 17'21' E a distance
of 69.85 feet to the true point of beginning.
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Easement Area B
240 pals
Together With an exclusive easement for parking on and over the
following described land: That portion of the NW 1/4 of the SE
o. 1/4 and the NE 1/4 of the SW 1/4 of Section 26, Township 23
u North, Range 4 East, N.M., in King County, Washington, described
• as follows: Beginning at the northeast corner of the SE 1/4 of
�.j said Section 2b; thence N 88 degrees 05'42" W along the north
✓ line of said SE 1/4 a distance of 1998.b8 feet to the west line
of the east 659.34 feet of the said NW 1/4 of the SE 1/4 of said
Section 26; thence S 01 degrees 47'29" W along said west line a
distance of 658.25 feet; thence N 88 degrees 00'36" W a distance
of 427.55 feet to the true point of beginning; thence S 01
degrees 59'2U" W a distance of 24.00 feet; thence N 88 degrees
00'36" W a distance of 310.00 feet; thence N 01 degrees 59'24" E
a distance of 24.00 feet; thence S 88 degrees 00'3b" E a distance
of 310.00 feet to the true point of beginning.
Easement Area C
Together With an exclusive easement for the passage of motor
vehicles and pedestrians and for the storage of material on and
over the following described land: That portion of the NW 1/ of
the SE 1/4 of Section 26, Township 23 North, Range 4 East, W.N.,
in King County, Washington, described as follows: Beginning at
the northeast corner of the SE 1/4 of said Section 2h; thence N
88 degrees 05'42" W along the north line of said SE 1/4 a
distance of 1,998.68 feet to the west line of the east 059.34
feet of the NW 1/4 of the SE 1/4 of said Section
26; thence S 01 degrees 47'29" W along said west line a distance
of 058.25 feet; thence N 88 degrees 00'36" W a distance of 354.55
feet; thence S 02 degrees 17'21" W a distance of 09.85 feet to
the true point of beginning; thence continuing S 02 degrees
17'21" W a distance of 591.b2 feet; thence N 87 degrees 55'02" W
along the south line of the NW 1/4 of the SE 1/4 a distance of
40.00 feet; thence N 02 degrees 17'21" E a distance of 591.55
feet; thence S 88 degrees 00'3u" E a distance of 40.00 feet to
the true point of beginning.
a rr
'Nh eta teauo raj a K wbaad'be. s own an ° avcurate survey
p e .. 3. 1968:
2. ;All : ° to lag` ordinruiceb, building or.use restricons and ti laws
or -regnittione. - .
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Nr 3. Grant of easement ' J. C. Penney Properties, Inc. to
v Sammamish Commercial Co., Inc., recorded in the Office of the
King County Auditor under Pilo No. 5890081.and confirmed by
Confirmation of Easement end-Rylfillment of Condition dated
August 14, 1968 from J. C. Penney Properties. Inc. to
-Sammanish Commercial Co., Inc., recorded in the Office of the
King County Auditor under Bile No. 6 397173: Sammamish
Commercial Co., Inc. assigned its interest in such easement
to the City of Tukwila, Washington by Bill of Sale and
Assignment of Easement dated February 5, 1968, recorded in
the Office of the King _County Auditor under File No.
6 34 3885.
4. Easement from J. C. Penney Properties, Inc. to Aletores
Realty Corporation dated August 22, 1967, recorded in the
Office of the King County Auditor under file No. 6227103.
5. Easement from J. C. Penney. Properties Inc. to the City of
Tukwila, Washington, dated May 14, 1968, recorded in the
Office of the King County Auditor under file No. 6355531,
and re- recorded under file No. 6397106.
6.
Unrecorded easement from J. C.Pe Properties Inc. to
Puget Sound Power & Light Company dated May 14, 1968.
7. Any service, installation or construction charges for garl,aco
collection, sewer, water or electricity.
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P .6eyer 1a1 Seal)
State of New York - )
)as.:
County of New York
On this /Bids., of November, 1968 before me personally
appeared Charles T.Stewart and Elting H. Smith, to me known to
be Vice President and Assistant Secretary, respectively, of
J. C. Penr)ey Company, Inc. , one of the corporations that
executed the within and foregoing instrument, and acknowledged
said instrument to be the free and voluntary aet and deed of said
corporation, for the uses and purpgses therein mentioned, and on
oath stated that they were authorized to execute said instrument
and that the seal affixed is the corporate seal of said
corporation.
affixed my
tate of New York
County of New York
On this (,5n day of November.1968, 'before me personally
appeared l:rnnoth S. Axeleon and Elting H. Smith to me
known to bevice president and Assistant Secretary, resp
of J. C. Penney Properties, Inc. one of the corporations that
executed the within and foregoing instrument, 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 they were authorized to execute said instrument
and that the seal affixed is the corporate seal of said
corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed my official seal the day and year first above written.
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R' ileetE4 Seal)
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IN WITNESS WHEREOF, I have hereunto set my hand and
official seal the day and year first above written.
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Notary Public, i 4:7-the
State of New Yor , residing
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