EXHIBIT 10.21
AMENDMENT NO. 2
TO GROUND LEASE
THIS AMENDMENT NO. 2 TO GROUND LEASE is made and executed effective the
17th day of May, 1977, among XXXXXXXXX XXXXXX and XXXXXXX XXXXXX, husband and
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wife, XXX XXXXXX and XXXX XXXXXX, husband and wife (hereinafter sometimes
collectively called "Owner"), and SEA/TAC PROPERTIES, a limited partnership,
Xxxxxx Industries, a California corporation, General Partner (hereinafter called
"Tenant") with reference to the following facts:
A. XXXXXXXXX XXXXXX and XXX XXXXXX, acting in the capacity of and therein
described as "Owner", have heretofore entered into a written Ground Lease dated
15 May 1969 with XXXXXX INDUSTRIES, acting in the capacity of and therein
described as "Tenant" (the "Ground Lease").
B. A short form of the Ground Lease dated 17 June 1970 was recorded on
June 30, 1970, as Instrument No. 6666572 in Volume 396, Pages 90 to 95,
inclusive, of Official Records of King County, Washington; all references in
this Amendment to the Ground Lease shall include the short form Ground Lease
with the same force and effect as if both were mentioned.
X. XXXXXX INDUSTRIES assigned its interests in and under the Ground Lease
to Tenant pursuant to the provisions of an instrument entitled "Assignment of
Lessee's Interest in Lease" dated 31 March 1972, recorded on May 1, 1973 as
Instrument No. 7305010574 and as Instrument No. 7305010575, wherein Owner
consented to such assignment, both of Official Records of King County,
Washington.
D. By conveyances made by XXXXXXXXX XXXXXX to the marital community
composed of himself and XXXXXXX XXXXXX, his wife, and by XXX XXXXXX to the
marital community composed of himself and XXXX XXXXXX, his wife, said two
marital communities are the owners of undivided one-half interests in the
premises covered by the Ground Lease and the premises described in Exhibits B
and C attached thereto.
E. The Ground Lease has been amended by an instrument entitled "Amendment
No. 1 to Ground Lease and Grant of Easement" dated April 27, 1973, between Owner
and Tenant, recorded on May 1, 1973 as Instrument No. 7305010576 of Official
Records of King County, Washington.
F. Pursuant to the provisions of paragraph 12 of the Ground Lease entitled
"Option to Lease Additional Area", the condition precedent to Tenant's option to
lease additional area has occurred and Tenant has exercised its said option.
Owner and Tenant now desire to further amend the Ground Lease to set forth their
agreement concerning the option premises and the commencement date of the
inclusion of such premises under the Ground Lease.
NOW, THEREFORE, Owner and Tenant do hereby further amend the Ground Lease
as follows:
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1. The real property described in Exhibit "B" to the Ground Lease shall be
included as a part of the Premises covered by the Ground Lease from and after
January 1, 1978 for the entire remaining term of the Ground Lease and any
extension thereof.
2. The yearly "Primary Rent" specified in paragraph 3(c) of the Ground
Lease is increased to $65,000, effective as of January 1, 1978, payable at the
rate of $5,416.67 per month. Subparagraph (i) of paragraph 3(d) of the Ground
Lease, and the examples contained therein, are hereby amended to reflect the
increase in the yearly "Primary Rent" from $60,000 to $65,000. Subparagraph
(iii) of paragraph 3(d) of the Ground Lease is hereby amended to increase the
minimum yearly rental after January 1, 1978 from $60,000 to $65,000. The
"maximum yearly rent" figures set forth in subparagraph (iii) of said paragraph
3(d) are each increased as follows:
Maximum
Period Yearly Rent
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January 1, 1979, to December 31, 1983 $71,500.00
January 1, 1984, to December 31, 1988 $78,000.00
January 1, 1989, to December 31, 1993 $84,500.00
3. An executed and acknowledged counterpart of this Amendment No. 2 shall
be recorded in the Office of the County Records of King County, Washington.
4. Except as herein and previously amended, the Ground Lease is ratified,
affirmed and approved.
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IN WITNESS WHEREOF, Owner and Tenant have entered into this Amendment No. 2
as of the year and day first above written.
/s/ XXX XXXXXX /s/ XXXXXXXXX XXXXXX
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XXX XXXXXX XXXXXXXXX XXXXXX
/s/ XXXX XXXXXX /s/ XXXXXXX XXXXXX
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XXXX XXXXXX XXXXXXX XXXXXX
"Owner"
SEA/TAC PROPERTIES,
a Limited Partnership
BY XXXXXX INDUSTRIES
a California Corporation,
General Partner
By /s/ XXXX X. XXXXXX
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By /s/ XXXXXXXX X. XXXXXXXX
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"Tenant"
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STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On May 25, 1977, before me, the undersigned, a Notary Public in and for
------
said county and state, personally appeared XXXXXXXXX XXXXXX and XXXXXXX XXXXXX,
known to me to be the persons whose names are subscribed to the within
instrument, and acknowledged that they executed the same.
WITNESS my hand and official seal.
/s/ H. XXXX XXXXX
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Notary Public in and for said
County and State
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On May 25, 1977, before me, the undersigned, a Notary Public in and for
------
said county and state, personally appeared XXX XXXXXX and XXXX XXXXXX, known to
me to be the persons whose names are subscribed to the within instrument, and
acknowledged that they executed the same.
WITNESS my hand and official seal.
/s/ H. XXXX XXXXX
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Notary Public in and for said
County and State
STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ANGELES )
On May 17, 1977, before me, the undersigned, a Notary Public in and for
------
said county and state, personally appeared Xxxx X. Xxxxxx, known to me to be the
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President, and Xxxxxxxx X. XxXxxxxx, known to me to be the ___________ Secretary
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of XXXXXX INDUSTRIES, the corporation that executed the within instrument, and
known to me to be the persons who executed the within instrument on behalf of
said corporation, said corporation being known to me to be the General Partner
SEA/TAC PROPERTIES, the Limited Partnership that executed the within instrument,
and acknowledged to me that such corporation executed the same as such partner
and that such partnership executed the same.
WITNESS my hand and official seal.
/s/ XXXXX X. XXXX
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[Seal appears here] Notary Public in and for said
County and State
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