EX 10.69
XXXXXX XXXXX
REAL ESTATE
September 6, 1996
Xx. Xxxxx Xxxxx, Executive Vice President
EMERITUS CORPORATION
0000 Xxxxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxxxx 00000
Dear Xxxxx:
Please refer to your lease dated April 29, 1996, and
all subsequent amendments and addenda thereto for the
space you occupy within the 3131 Xxxxxxx Building.
Please consider this a further addendum to that lease.
PREMISES
Emeritus Corporation hereby agrees to lease the
additional adjacent space of approximately 4,258
rentable square feet on the 5th floor of the 3131
Xxxxxxx Building.
RENT
The annual base rent for this additional space
will be at the same rate that Lessee is paying
for its other space under lease.
COMMENCEMENT AND LEASE TERM
Rent and lease term for this additional space
shall commence July 1,1997, and shall run
coterminous with your existing lease expiring
June 30, 2006. Provided however, that the rent
commencement date shall be extended one day for
each day that Lessor delays delivery of the
additional space beyond June 1,1997, in order to
provide Lessee with 30 days within which to
complete its tenant improvement work.
FINISH WORK/TENANT IMPROVEMENT ALLOWANCE
Pursuant to the existing lease, Lessee is
allotted a prorata share of the initial tenant
improvement allowance, which was $7.50 per rsf.
Xxxxxx's lease commenced exactly one year prior
to the commencement of the lease for the
expansion space so the remaining improvement
allowance to be credited to Lessee in the way of
rent offset is $6.75 per rsf. [($7.50I10 yrs.) x
9 yrs.]
LEASING FEE
Xxxxxx agrees to pay Xxxxxxx Partners a leasing
fee equal to 2.5% of the gross
Xx. Xxxxx Xxxxx
EMERITUS CORPORATION
September 6,1996
Page 2
lease value of the expansion space for the balance of
the initial term. This amount shall be paid by Xxxxxx
and offset against its rent.
PARKING
Lessee shall be provided additional parking stalls at a
rate of two (2) stalls per 1,000 rsf, with one (1 )
stall per 750 rsf inside the building garage, all at
market rate and paid for by Lessee.
Except as modified herein, all other terms and
conditions of your original lease and addenda thereto
shall remain unchanged.
Please consider this document when fully executed, as
an addendum to your lease. If you are in agreement with
the above, please sign and date where indicated and
return all three copies to me for Xxxxxx Xxxxx'x
signature. Upon full execution, I shall return one copy
to you for your files.
Thank you, Xxxxx, for this lease of additional space
and please let me know if we can assist you further in
any way. We look forward to continuing to satisfy your
office space needs.
Very truly yours,
/s/ Xxxx Xxxxxxx
Xxxx Xxxxxxx
Attachment
AGREED AND ACCEPTED:
XXXXXX XXXXX REAL ESTATE EMERITUS
CORPORATION
/s/ /s/ Xxxxx
Xxxxx
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Xxxxxx Xxxxx By: Xxxxx
Xxxxx
Its: EVP
9/16/96
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Dated Dated
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On this __ day of ________, 19__, before me, a Notary
Public in and for the State of Washington, personally
appeared XXXXXX XXXXX, the individual who executed the
within and foregoing instrument and acknowledged said
instrument to be his free and voluntary act and deed
for the uses and purposes therein mentioned.
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Notary Public in and for the
State of Washington,
residing at
_______________________________________.
My commission expires: ___________
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On this 16th day of September, 1996, before me, a
Notary Public in and for the State of Washington,
personally appeared Xxxxx X. Xxxxx, to me known to be
the Executive Vice President, of Emeritus Corporation,
the corporation that executed the within foregoing
instrument, and acknowledged the same 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
thereto is the corporate seal of said corporation.
IN WITNESS WHEREOF, I have here unto set my hand
and affixed by official seal, the day and year first
above written.
Xxxxxxxxx X. Xxxxxxx
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Notary Public in and for
the State of
Washington, residing at
Seattle.
My commission expires: 3-
30-99
[SEAL]
