HomeMy WebLinkAbout3rd Amendment to Lease Agreement with William A. Hon Family Limited Partnership, an individual for Lease of Hon Building
TIDRD AMENDMENT TO LEASE
This Third Amendment to Lease, made and entered into February 22' , 2007 by and
between William A. Hon Family Limited Partnership, an individual (hereinafter
"Lessor") and the City of Meridian, a Body Corporate of the State of Idaho (hereinafter
"Lessee") .
WITNESSETH:
WHEREAS, Lessor's predecessor in interest, William A. Hon, and Lessee entered into a
lease dated December 19, 2000, under the terms of which Lessee leased general office
space as defined in the Lease at 660 E. Watertower Lane, Meridian, Idaho.
WHEREAS, Lessor and Lessee amended said Lease on May 8, 2003 to expand the
prermses.
WHEREAS, Lessor and Lessee have agreed to extend the term of said Lease per the
terms stated herein.
NOW THEREFORE, in consideration of the mutual covenants herein contained, and
other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
Rent: The present Lease expires March 31, 2007. The Lease shall be extended to July
31, 2008. The monthly rental from April 1, 2007 to March 31, 2008 shall be $18,277.
The monthly rental shall increase to $18,825 beginning April 1. 2008.
In regard to a month to month extension beyond July 31, 2008, paragraph 29 of our Lease
concerns HOLDING OVER. The Lease states that month-to month tenancy will be at 1 Y2
times the current rent.
Lessor: William A. Hon Family Limited Partnership
By: r-'U &€~ C .rL Date:
William A. Hon
'-/2-f- /0 7
Lessee: City of Meridian
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