Loading...
22-102.01 Byrd Real Estate: Wallaroo's Lease Agreement z -102 I Byrd Real Estate Group ©Commercial Brokers 1$CBA ALL RIGHTS RESERVED at 1912 N. Division Ste. 201 AssEciED V II Spokane, WA 99207 �'FJT Phone: 509-326-8080 Rent Rider 9 , Fax: 509-326-3685 Rev.9/2020 Page 1 of 2 AMENDED RENT RIDER CBA Text Disclaimer:Text deleted by licensee indicated by strike. New text inserted by licensee indicated by small capital letters. This Rent Rider("Rider") is a part of and incorporated by this reference into that certain Lease Agreement dated June 23 , 20 22 ("Lease") between City of Spokane Valley , a(n) ("Landlord") and Wallaroo's Furniture & Mattresses, LLC , a(n)Washington limited liability company ("Tenant"), as the same may be amended, concerning the commercial space commonly known as 12614 E Sprague ("Premises"), which Premises are part of the real property located at 12614 E Sprague , , Spokane Valley , WA 99216 and commonly known as 12614 E Sprague ("Property"). ® 1. BASE MONTHLY RENT SCHEDULE. Tenant shall pay to Landlord base monthly rent during the initial Lease Term according to the following schedule: Lease Year(Stated in Years or Months) Base Monthly Rent Amount July 1, 2022 -September 15, 2022 $ 0 September 16, 2022-September 30, 2022 $ 3,541.67 October 1, 2022 -June 30, 2027 $ 7,083.33 ❑ 2. CONSUMER PRICE INDEX ADJUSTMENT ON BASE MONTHLY RENT. The base monthly rent shall be increased on the first day of the second year of the Term, which shall occur on the first day of the calendar month after the calendar month in which the Commencement Date occurs and on the first day of each year of the Term thereafter(each, an "Adjustment Date") (but not during any extended or renewal term(s) unless specifically set forth elsewhere in the Lease or set forth in this Rent Rider below). The increase shall be determined in accordance with the increase in the United States Department of Labor, Bureau of Labor Statistics, Revised Consumer Price Index for All Urban Consumers (CPI-U): U.S. Cities Average, all items index(Reference Base 1982-84 equal 100)(the"Index"). The base monthly rent payable immediately prior to the applicable Adjustment Date shall be increased by the percentage that the Index published for the date nearest preceding the applicable Adjustment Date has increased over the Index published for the date nearest preceding the first day of the Lease Year from which the adjustment is being measured. Upon the calculation of each increase, Landlord shall notify Tenant of the new base monthly rent payable hereunder. Within twenty(20) days of the date of Landlord's notice, Tenant shall pay to Landlord the amount of any deficiency in base rent paid by Tenant for the period following the subject Adjustment Date, and shall thereafter pay the increased base rent until receiving the next notice of increase from Landlord. If the components of the Index are materially changed after the Commencement Date, or if the Index is discontinued during the Lease term, Landlord shall notify Tenant of a substitute published index which, in Landlord's reasonable discretion, approximates the Index, and shall use the substitute index to make subsequent adjustments in base monthly rent. In no event shall base monthly rent be decreased pursuant to this paragraph. INITIALS:LANDLORD ,Jr'' DATE 3-0- a 3 TENANT ' " DATE.1:—./117)-1� LANDLORD DATE TENANT DATE +. • ,r Byrd Real Estate Group ©Commercial Brokers :l' CBA 1912 N. Division Ste. 201 Association V ALL RIGHTS RESERVED ,f,, rip > Spokane, WA 99207 '� Phone: 509-326-8080 Form: RR } Rent Rider 44 Fax: 509-326-3685 Rev.9/2020 Page 2 of 2 AMENDED RENT RIDER CBA Text Disclaimer:Text deleted by licensee indicated by strike. New text inserted by licensee indicated by small capital letters. ❑ 3. EXTENDED TERM BASE MONTHLY RENT SCHEDULE. Tenant shall pay to Landlord base monthly rent during the Extended Term of the Lease commencing upon (check one): ❑the date that is months following the Commencement Date of the initial Term, or ❑ , 20_, as follows (choose. one): ❑As set forth in the Option to Extend Rider attached to the Lease ❑BASE MONTHLY RENT SCHEDULE. Tenant shall pay to Landlord base monthly rent during the Extended Term of the Lease according to the following schedule: Lease Year(Stated in Years or Months) Base Monthly Rent Amount $ $ $ $ ❑CONSUMER PRICE INDEX ADJUSTMENT ON EXTENDED TERM BASE MONTHLY RENT. The base monthly rent shall be increased on the first day of the first year of the Extended Term of the Lease and on the first day of each year of the Extended Term of the Lease thereafter(each, an "Adjustment Date"). The increase shall be determined in accordance with the increase in the United States Department of Labor, Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPI-U): U.S. Cities Average, all items index(Reference Base 1982-84 equal 100) (the"Index"). The base monthly rent payable immediately prior to the applicable Adjustment Date shall be increased by the percentage that the Index published for the date nearest preceding the applicable Adjustment Date has increased over the Index published for the date nearest preceding the first day of the Lease Year from which the adjustment is being measured. Upon the calculation of each increase, Landlord shall notify Tenant of the new base monthly rent payable hereunder. Within twenty(20) days of the date of Landlord's notice, Tenant shall pay to Landlord the amount of any deficiency in base rent paid by Tenant for the period following the subject Adjustment Date, and shall thereafter pay the increased base rent until receiving the next notice of increase from Landlord. If the components of the Index are materially changed after the Commencement Date of the Extended Term, or if the Index is discontinued during the Extended Term, Landlord shall notify Tenant of a substitute published index which, in Landlord's reasonable discretion, approximates the Index, and shall use the substitute index to make subsequent adjustments in base monthly rent. In no event shall base monthly rent for the Extended Term be decreased pursuant to this paragraph. � INITIALS:LANDLORD ,�� DATE 3—2_ J—2 3 TENANT 'V� DATE (4( 2-3 LANDLORD DATE TENANT DATE