HomeMy WebLinkAboutAbart Investments as successor in interest to William A. Hon Family Limited Partnership at 660 E. Watertower Extension of LeaseFOURTH AMENDMENT TO LEASE
This Fourth Amendment to Lease, made and entered into this ~~7~ "day of September,
2008 by and between Abart Investments as successor in interest to William A. Hon
Family Limited Partnership, (hereinafter "Lessor") and the City of Meridian, (hereinafter
"Lessee").
WITNESSETH:
WHEREAS, Lessor 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
Premises and on February 28, 2007 to extend the Lease to July 31, 2008.
WHEREAS, Lessor and Lese 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:
TERM: The term of the Lease shall be extended from August 1, 2008 to October 31,
2008.
RENT: The monthly rent shall remain at $18,825.00 from August 1, 2008 to October 31,
2008. The Lease shall be considered month to month beginning November 1, 2008 and
the holdover rate of one and one half times the current rate shall go into effect.
OPERATING EXPENSES: Lessee shall pay as Additional Rent, Lessee's pro-rata
share of operating expenses. Beginning April 1, 2008 and for the term of this Lease
Amendment, the monthly payment shall be $1,286.05.
Lessee acknowledges that it accepts the Premises and the Building in their "as is"
condition and Lessee hereby affirms that on the date hereof no breach or default by either
party has occurred, and that the Lease, and all of its terms conditions, covenants,
agreements and provisions, except as hereby modified, are in full force and effect with no
defenses or offsets thereto, and Lessee hereby releases Lessor of and from all liabilities,
claims, controversies, causes of action and other matters of every nature which, through
the date hereof, have or might have arisen out of or in any way in connection with the
Lease and/or the Premises.
Lessee represents and warrants that Lessee has had no dealing with any other broker in
connection with the negotiation and execution of this Amendment, and Lessee agrees to
indemnify Lessor and hold Lessor harmless from any claimed by any broker or agent
other than the party named above with respect to this Amendment.
Except as modified herein, all of the terms, covenants and conditions of the Lease shall
remain in full force and effect in accordance with their terms.
LESSOR:
Abart In estments rporation
By:
Arthur J. Ferrari,
Its: ~TYeQSIU^Q/^
Dated: (` 3Q~ ~
LESSEE:
City of Meridian
.~
By:
Tammy de eerd
Its:
Dated: ~~ ! 9 ' ~~