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HomeMy WebLinkAboutL031-12 - Original - Terreno Valley Corporate, LLC - Commercial Property/Parking Strip at S 222nd St & 68th Ave S - 10/01/2011 CITY CLERK NSZKEN T CITY OF KENT 64 n 5 H N G T O N 220 41'Avenue South Kent, WA 98032 Fax 253-856-6725 PHONE: 253-856-5725 Lease Agreement Cover Sheet This document is to be used in ireu of the Contract Cover Sheet SECTION 1 - CONTRACT PROCESSING AND TENANT SET-UP: Contract Number: (to be completed by Clerk's Office) 1. Responsible Department/Division: Public Works Engineering 2. Contact Person and Title: Chad Bieren Telephone Extension: 5534 3. Tenant (Customer) Name: Terreno Valley Corporate, LLC 4. Tenant (Customer) Number: 150103 5. General Ledger Account Number: 6. Kin Count Tax Parcel Number: 000620-0018 (portion) 9 Y (p ) 7. Address of Parcel: South 222nd St. and 68th Ave South 8. Type of Lease: Commercial Property / parking strip 9. Council Authorization Date: 02.E-^P=4 10. Mayor Signature Date: 5- 99- 1 ), SECTION 2 - LEASE DURATION AND IMPORTANT DATES: 11. Lease Start Date: 101112011 12. Tenant Lease Option Renewal Notification Due Date: 6/30/16 13. Lease Termination Date: 9/30/16 14. Lease Duration: 5 years SECTION 3 - RENT DETERMINATION AND DUE DATE: 15. Rent: 4,815.23 16. Rent Due Date: 9/30/12 17. Calculation of Rental Increase(s): 3% annual increase Lease Agreement Cover Sheet—Page 1 of 2 SECTION 4 - LEASEHOLD EXCISE TAX: 18. Is this lease subject to leasehold excise taxes? ® YES (go to Question 19) ❑ NO, reason: 19. Are leasehold excise taxes for this tenant centrally assessed, i.e. directly collected from the tenant by the Washington State Department of Revenue? ❑ YES (attach written verification received directly from DOR or indirectly through the tenant, e.g. DOR notification letter) ® NO (go to Question 20) 20. Does Lease Rent include Leasehold Excise Tax? (Leasehold taxes must be broken out on the invoice and coded: Business unit.32500.0303) ❑ YES Calculate the leasehold excise tax (Stated Rent divided by 1.1284) ® NO Calculate the leasehold excise tax (Stated Rent times .1284) SECTION 5 - APPLICABLITY OF UTILITIES: 21. Applicability of Utilities - Check all that utilities that are affected and indicate provider (e.g. City of Kent), Account Number or basis of exclusion. ® Does Not Apply ❑ Water: ❑ Sewer: ❑ Drainage: ❑ Garbage: ❑ Electricity/Natural Gas: SECTION 6 - MONETARY PENALTIES AND LATE INTEREST CHARGES: 22. Monetary Penalties: 5% for late payments, after 5 calendar days of when due 23. Late Interest: 1% SECTION 7 - OTHER LEASE CONSIDERATIONS: Special lease considerations, e.g. non-monetary rent, etc ® None (check box if no considerations) Lease Agreement Cover Sheet—Page 2 of 2 LEASE AGREEMENT BETWEEN THE CITY OF KENT AND TERRENO VALLEY CORPORATE, LLC FOR PARKING AND STORAGE AREA (At South 222nd Block and 681h Avenue South, Kent) THIS LEASE AGREEMENT (hereinafter "Lease") is between Terreno Valley Corporate, LLC, a Delaware limited liability company, with offices located at 16 Maiden Lane, San Francisco, CA, 94108 ("Terreno" and "Lessee"), and the City of Kent, a Washington municipal corporation of the State of Washington with offices located at 220 4th Avenue South, Kent, Washington 98032 ("City" and "Lessor"). RECITALS A. Lessor is the owner of certain real property generally located at the South 222nd block and 68th Avenue South, in the city of Kent, King County, Washington. B. Lessee has agreed to rent a portion of Lessor's property, which is legally described in Exhibit A, attached and incorporated by this reference (the "Premises"). C. Lessor is willing to lease the Premises to Lessee on the following terms and conditions. NOW, THEREFORE, Lessor and Lessee agree as follows: AGREEMENT 1. LEASE. Lessor hereby leases to Lessee, and Lessee hereby rents from Lessor, the Premises, upon the terms and conditions set forth in this Lease Agreement. 2. TERM. 2.1 Term Defined. The term of this Lease shall be for five (5) years, commencing on October 1, 2011 ("Commencement Date"), and ending September 30, 2016 ("Termination Date"). Lease Agreement Between Terreno and the City of Kent Page 1 of 8 3.1. RENT. Lessee agrees to pay Lessor as Annual Rent, without notice or demand, plus leasehold tax, at a rate established by the State of Washington, currently 12.84%, commencing on the Commencement Date. Subsequently, the Annual Rent shall be paid in advance, on or before the first day of October of each year of the five year term. Rent shall be mailed to: City of Kent, 220 Fourth Avenue South, Kent, Washington 98032, Attention: Financial Services. Dates Rent Leasehold Tax Total Rent 10/1/2011 - $4,815.23 $618.27 $5,433.50 9/30/2012 10/1/2012 - $4,959.69 $636.82 $5,596.51 9/30/2013 10/1/2013 - $5,108.48 $655.93 $5,764.41 9/30/2014 10/1/2014 - $5,261.73 $675.61 $5,937.34 9/30/2015 10/1/2015 - $5,419.58 $695.87 $6,115.45 9/30/2016 Lessee shall pay City a late payment charge equal to five percent (5%) of the Annual Rent for any payment not paid within five (5) calendar days of when due. Any amounts not paid when due shall bear interest until paid at the rate of one percent (1%) per month. 4. PREMISES. 4.1 Premises Defined. The Lessor leases to Lessee and Lessee leases from Lessor the Property legally described in Exhibit A and depicted in Exhibit B attached hereto and incorporated by this reference. 4.2 As-Is. The City is providing the Premises in "as-is" condition for Lessee's use. The City makes no representation regarding the condition of the Premises or improvements located on the same. S. USE. 5.1 Permitted Use. Lessee shall use the Premises solely for the purposes of vehicular parking area and a telephone equipment storage yard and other incidental uses, but for no other purposes, without prior written consent of Lessor. In the event Lessee's use of the Premises increases fire insurance rates on the Premises, Lessee agrees to pay for that increase. 5.2 Restrictions on Use. Lessee shall not cause or permit any damage to the Premises Lessee shall, at all times, keep current and comply with all conditions and terms of any permits, licenses, certificates, regulations, ordinances, statues, and other government rules and regulations regarding its use or occupancy of the Premises. Lessee shall keep the Premises free and clear of any liens and encumbrances arising out of or relating to its use or occupancy of the Lease Agreement Between Terreno and the City of Kent Page 2 of 8 premises. If Lessee fails to comply with all or any of the restrictions on the use of the Premises set out in this subsection 5.2, the City shall notify Tenant per Section 18. 6. LESSOR'S OBLIGATION TO MAINTAIN PUBLIC TRAIL AND LESSEE'S OBLIGATION TO MAINTAIN THE PARKING AREA. Lessor shall maintain the public pedestrian trail, approximately twelve (12) feet in width, adjacent to and north of the Premises, extending from the West Valley Highway on the east, westerly to 64th Avenue South, on Lessor's property as shown on Exhibit B. Lessee shall maintain, to standards specified by Lessor, a public parking area north and east of the Premises, on Lessor's property adjacent to West Valley highway, for ten (10) automobiles, as depicted on Exhibit B The parking area shall be maintained at Lessee's sole cost and expense. The pedestrian trail and parking area described in this paragraph are called, collectively, ' the Public Improvement." Lessor further agrees to indemnify and hold Lessee harmless from any and all fees, costs, and expenses arising out of or connected with any injury to persons or damage to property associated or connected with any use of the Public Improvements or any adjacent property owned by Lessor, but only to the extent of Lessee's negligence. The parties understand and agree that the Public Improvements shall be open for the use and enjoyment of the public. 7. TAXES. Lessor shall pay all applicable taxes, including real property taxes and assessments, whether general or special, levied against the Premises. Should there presently be in effect or should there be enacted during the term of this Lease Agreement any law, statute or ordinance levying any tax (other than federal or state income taxes) upon rents. Lessee shall pay such tax or shall reimburse Lessor on demand for any such taxes paid by Lessor. S. UTILITIES AND FEES. Lessee shall pay all charges for electricity and any other utility services accruing at the Premises. Lessee shall directly pay these utility charges and all other license fees or other governmental charges levied on the operation of the Lessee's business on the Premises, or the business. 9. REPAIRS AND MAINTENANCE. Lessee has inspected and accepts the Premises in its present condition At its sole cost, Lessee shall at all times: (1) keep the Premises neat, clean and in a good, orderly, and sanitary condition; (2) replace as necessary all landscaped areas; and (3) keep and use the Premises in accordance with applicable laws, ordinances, rules, regulations and requirements of governmental authorities. In addition to, and without limiting, the foregoing, Lessee shall: (1) permit no waste, damage or injury to the Premises; (2) keep any Lease Agreement Between Terreno and the City of Kent Page 3 of 8 and all drain pipes free and open; (3) protect any water, heating, gas and other pipes to prevent freezing or clogging; and (4) repair all leaks and damages caused by leaks. 10. IMPROVEMENTS TO PREMISES. Lessee and its subtenant(s) shall make no additions, improvements and alterations to the Premises without Lessor's prior written approval, which shall not be unreasonably withheld. Such improvements shall not interfere with the Public Improvements. This work shall be done at Lessee's sole cost and must comply with the terms and conditions of that certain Easement between the City of Kent and Puget Sound Power & Light Company, dated December 28, 1987, and recorded under King County Recording No. 8712311349. Upon the expiration or termination of this Lease, Lessee shall, at Lessor's option, remove all Lessee's improvements, together with its equipment, and shall restore the Premises to its original condition within ninety (90) days of the expiration or termination date, at Lessee's sole cost and expense. 11. CONDEMNATION. If a substantial portion of the Premises is taken by any public authority under the power of eminent domain, so as to render the remaining Premises economically untenantable, this Lease Agreement shall terminate as of the time of such taking at the option of either party. If a portion of the Premises is so taken, and neither party elects to terminate this Lease Agreement, or until termination is effective as the case may be, the rent shall be reduced in direct proportion to the leased property taken. Lessee shall have no claim to any portion of the compensation for the taking or damaging of the land or building. Lessee shall be entitled to negotiate compensation for its own moving costs and its leasehold improvements. 12. LIENS AND INSOLVENCY. Lessee shall keep the Premises free from any liens arising by reason of work, labor, services or materials performed or supplied to Lessee and shall hold Lessor harmless against the same. Should Lessee become insolvent, bankrupt, or if a receiver, assignee or other liquidating officer is appointed for the business of Lessee, Lessor may cancel this Lease Agreement at its option. 13. ACCESS. Lessor shall have the right to enter the Premises at all reasonable times for the purpose of inspection. 14. DAMAGE OR DESTRUCTION. In the event the Premises are rendered untenantable in whole or in part by fire, the elements, or other casualty, Lessee may elect not to restore or rebuild the Premises and shall notify Lessor, in which event Lessee shall restore the Premises to its original condition and then vacate the Premises and, at that time, this Lease shall be terminated. In the Lease Agreement Between Terreno and the City of Kent Page 4 of 8 alternative, Lessee shall notify Lessor within fifteen (15) days after such casualty that Lessee will undertake to rebuild or restore the Premises. If Lessee is unable to restore or rebuild the Premises within thirty (30) days, then the Lease may be terminated at Lessee's option by written notice to Lessor. 15. INDEMNIFICATION. Lessee shall defend, indemnify and hold the City, its officers, officials, employees, agents and volunteers harmless from any and all claims, injuries, damages, losses or suits, including all legal costs and attorney fees, arising out of or in connection with the Lessee's performance of this Agreement, except for that portion of the injuries and damages caused by the City's negligence. IT IS FURTHER SPECIFICALLY AND EXPRESSLY UNDERSTOOD THAT THE INDEMNIFICATION PROVIDED HEREIN CONSTITUTES THE LESSEE'S WAIVER OF IMMUNITY UNDER INDUSTRIAL INSURANCE, TITLE 51 RCW, SOLELY FOR THE PURPOSES OF THIS INDEMNIFICATION. THE PARTIES FURTHER ACKNOWLEDGE THAT THEY HAVE MUTUALLY NEGOTIATED THIS WAIVER. The provisions of this section shall survive the expiration or termination of this Agreement. f 16. INSURANCE. The Lessor shall procure and maintain a or the duration of the Agreement, insurance of the types and in the amounts described in Exhibit C attached and incorporated by this reference. 17. TERMINATION OF LEASE. If Lessee fails to perform any of the covenants and agreements in this Lease Agreement, and that failure continues for thirty (30) or more days after receiving written notice from Lessor specifying Lessee's failure(s), unless appropriate action has been taken by Lessee in good faith to cure such failure, Lessor may terminate this Lease Agreement and reenter the Premises. Lessee shall pay Lessor any deficiency arising from its default, including any rent owed, the cost of recovering the Premises and any repairs, maintenance, or utilities attributable to Lessee. 18. MISCELLANEOUS PROVISIONS. A. Non-Waiver of Breach. The failure of the City to insist upon strict performance of any of the covenants and agreements contained in this Agreement, or to exercise any option conferred by this Agreement in one or more instances shall not be construed to be a waiver or relinquishment of those covenants, agreements or options, and the same shall be and remain in full force and effect. Lease Agreement Between Terreno and the City of Kent Page 5 of 8 B. Resolution of Disputes and Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington. If the parties are unable to settle any dispute, difference or claim arising from the parties' performance of this Agreement, the exclusive means of resolving that dispute, difference or claim, shall only be by filing suit exclusively under the venue, rules and jurisdiction of the King County Superior Court, King County, Washington, unless the parties agree in writing to an alternative dispute resolution process. In any claim or lawsuit for damages arising from the parties' performance of this Agreement, each party shall pay all its legal costs and attorney's fees incurred in defending or bringing such claim or lawsuit, including all appeals, in addition to any other recovery or award provided by law; provided, however, nothing in this paragraph shall be construed to limit the City's right to indemnification under Section 15 of this Agreement. C. No Waiver of Covenants. The failure of the City to insist upon strict performance of any of the covenants and agreements contained herein, or to exercise any option herein conferred in one of more instances shall not be construed to be a waiver or relinquishment of said covenants, agreements or options, and the same shall be and remain in full force and effect. D. Written Notice. All communications regarding this Agreement shall be sent to the parties at the addresses listed on the signature page of the Agreement, unless notified to the contrary. Any written notice hereunder shall become effective three (3) business days after the date of mailing by registered or certified mail, and shall be deemed sufficiently given if sent to the addressee at the address stated in this Agreement or such other address as may be hereafter specified in writing. E. Assignment and Sublease. Lessee may assign its interest in this Lease Agreement at any time or may sublease all or any portion of the Premises provided, however, assignee complies with paragraph 16 "INSURANCE" Assignment will not be valid without said compliance. F. Modification. No waiver, alteration, or modification of any of the provisions of this Agreement shall be binding unless in writing and signed by a duly authorized representative of the City and Lessee. G. Surrender of Premises. Lessee agrees, upon termination of this Lease Agreement, to surrender the Premises peacefully, to leave the Premises neat and clean, and to deliver all keys to the Premises to the Lessor. Lease Agreement Between Terreno and the City of Kent Page 6 of 8 H. Signs. Lessee may, at Lessee's sole expense, place external signs on the Premises provided such signs have been approved in advance by Lessor, and provided such signs do not violate any statute or regulations existing during the terms of this Lease Agreement. Lessee shall pay the costs of removal of such signs upon termination of the Lease. I. Binding Upon Heirs, Successors and Assigns. The covenants and agreements of this Lease Agreement shall be binding upon the subtenants, heirs, executors, administrators, successors, and assigns of both parties, except as limited elsewhere in this Lease Agreement. J. Entire Agreement. The written provisions and terms of this Agreement, together with any Exhibits attached hereto, shall supersede all prior verbal statements of any officer or other representative of the City, and such statements shall not be effective or be construed as entering into or forming a part of or altering in any manner this Agreement. All of the above documents are hereby made a part of this Agreement. However, should any language in any of the Exhibits to this Agreement conflict with any language contained in this Agreement, the terms of this Agreement shall prevail. K. Compliance with Laws. The Lessee agrees to comply with all federal, state, and municipal laws, rules, and regulations that are now effective or in the future become applicable to Lessee's business, equipment, and personnel engaged in operations covered by this Agreement or accruing out of the performance of those operations. L. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall constitute an original, and all of which will together constitute this one Agreement. Lease Agreement Between Terreno and the City of Kent Page 7 of 8 IN WITNESS, the parties below execute this Agreement, which shall become effective on the last date entered below. LESSEE: LESSOR: TERRENO VALLEY CORPORATE LLC,+ CITY OF KEC21NT By 'Tura.w /Z+.I{�. LLC, t pcl«.as LLC, r�s n.,.5.y 67:-fcrrv. k4.147 4e p�4,,, By: ' By: (signature) (signature) Print Name: Pri 6tN e uzette Cooke Its SV? Its Ma or I (bt/e) DATE: 5/ ��/1i DATE:- NOTICES TO BE SENT TO: NOTICES TO BE SENT TO: TERRENO VALLEY CORPORATE LLC CITY OF KENT: Andrew T. Burke Tim LaPorte Senior Vice President Public Works Director 16 Maiden Lane City of Kent San Francisco, CA 94108 220 Fourth Avenue South (415) 655-4589 Kent, WA 98032 (253) 856-5515 (telephone) 253 856-6500 facsimile APPROVED AS TO F RM: Kent Law Department P\Gvil\Files\Open Files\0177-2012-Public works General\Lease Teerreno Door Lease Agreement Between Terreno and the City of Kent Page 8 of 8 DE$cRIPTION CONMENCENG AT THE INTERSECTION OF THE SOUTH LINE OF THE NORTH 319 FEET OF THE SOUTH HALF OF TttE SOUTHEAST QUARTER. OF THE SOUTHEAST QUARTER OF SECTION 11 , TOWNSHIP 22 NORTH, RANGE 4 EAST W.M. WIrif THE EAST QUARTER SECTION LINE OF SAID SECTION 11; THENCE NORTH 89"12'17" WEST ALONG fHE SOUTH LINE OF SAID NORTH 319.00 FEET, 50.00 FEET TO THE WEST MARGIN OF WEST VALLEY HIGHWAY, AND THE TRUE POINT OF BEGINNING; THENCE CONTINUING NORTH 99012117" WEST 700.00 FEET; THENCE NORTH 0053'41" EAST 75.00 FEET; THENCE SOUTH 89"12'17" EAST 700.00 FEET TO THE {JEST MARGIN OF WEST VALLEY HIGHWAY; THENCE ALONG SAID WEST MARGIN PARALLEL TO THE EAST LINE OF T11E SOUTHEAST QUARTER OF SAID SECTION 11, SOUTH 0053'41" WEST MOD FEET TO TOE TRUE POINT OF BEGINNING. ,� E,�H/,v'/�"' ram-' --• Ale- S ,r •'• .h T , in iNt a � • Z 3 � i��� Ada' � � ��•,.; 'z K'- -- -/'� � 6[ ,Jr 4 � �6�J � •, i 2 r , , , F we-sr VALLWY Hwy EXHIBIT C INSURANCE REQUIREMENTS FOR STANDARD LEASE Insurance The Lessee shall procure and maintain for the duration of the Agreement, insurance against claims for injuries to persons or damage to property which may arise from or in connection with the Lessee's operation and use of the Court. A. Minimum Scope of Insurance Lessee shall obtain insurance of the types described below: 1. Commercial General Liability insurance shall be written on Insurance Services Office (ISO) occurrence form CG 00 01 and shall cover premises and contractual liability The City shall be named as an insured on Lessee's Commercial General Liability insurance policy using ISO Additional Insured-Managers or Lessors of Premises Form CG 20 11 or a substitute endorsement providing equivalent coverage. B. Minimum Amounts of Insurance Lessee shall maintain the following insurance limits: 1. Commercial General Liability insurance shall be written with limits no less than $2,000,000 each occurrence, $2,000,000 general aggregate. C. Other Insurance Provisions The insurance policies are to contain, or be endorsed to contain, the following provisions for Commercial General Liability insurance 1. The Lessee's insurance coverage shall be primary insurance as respect the City. Any Insurance or self-insurance coverage maintained by the City shall be excess of the Lessee's insurance and shall not contribute with it. 2. The Lessee's insurance shall be endorsed to state that coverage shall not be cancelled by either party, except after thirty (30) days prior written notice by certified mail, return receipt requested, has been given to the City. EXHIBIT C (Continued) D. Acceptability of Insurers Insurance is to be placed with insurers with a current A.M. Best rating of not less than ANII. E. Verification of Coverage Lessee shall furnish the City with original certificates and a copy of the amendatory endorsements, including but not necessarily limited to the additional insured endorsement, evidencing the insurance requirements of the Lessee. F. Waiver of Subrogation Lessee and City hereby release and discharge each other from all claims, losses and liabilities arising from or caused by any hazard covered by property insurance on or in connection with the premises or said building. This release shall apply only to the extent that such claim, loss or liability is covered by insurance. G. City's Property Insurance City shall purchase and maintain during the term of the lease, all-risk property insurance covering the Court. " R CERTIFICATE OF LIABILITY INSURANCE page 1 of 2 05/24/D20 2 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S),AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER IMPORTANT If the certificate holder Is an ADDITIONAL INSURED,the policy(ies)must be endorsed If SUBROGATION IS WAIVED,subject to the terms and conditions of the policy,certain policies may require an endorsement A statement on this certificate does not confer rights to the certificate holder In lieu of such endorsement(s). PRODUCER CONTACT NAME Willis of Maryland, Inc. PHONE 877_945-7378 FAX 888-467-2378 c/o 26 Century Blvd. E-MAIL P. O sox 305191 certificates@willis.com Nashville, TN 37 2 3 0-5191 INSURER(S)AFFORDING COVERAGE NAIC# INSURERA National union Fire Ins. Co. of Pittsburg 19445-000 INSURED INSURERS Terreno Realty Corporation 101 Montgomery Street INSURERC San Francisco, CA 94104 INSURER D INSURERE INSURERF COVERAGES CERTIFICATE NUMBER:17929193 REVISION NUMBER- THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS I%R I TYPE OFINSU RANGE ADD, SUB POLICY NUMBER POLICYEFF POLICYEXP LIMITS A GENERAL LIABILITY y Y GL5076387 /26/2012 4/1/2013 EACHOCCURRENCE $ 1,000,000 DAMX COMMERCIAL GENERAL LIABILITY PREMISETO Eaoccwence $ 1,000,000 CLAIMS-MADE5d OCCUR MED EXP(Any one person) $ 10,000 PERSONAL B ADV INJURY $ 1,000,000 GENERALAGGREGATE $ 2,000,000 GEN L AGGREGATE LIMIT APPLIES PER PRODUCTS-COMP/OP AGG $ 2,000,000 POLICY E PRO X LOC Poliev Aggrecrate $ 10.000.000 AUTO MOBILE LIABILITY CEO.a.,deD)SINGLE OMIT S ANYAUTO BODILY INJURY(Per person) $ ALLOWNED SCHEDULED BODILY INJURY(Per accident) $ AUTOS AUTOS NON-OWNED PROPERTY DAMAGE HIREDAUTOS AUTOS (Per accbanl) $ $ A X UMBRELLA LIAB X OCCUR y Y AURA068027691 /26/2012 4/1/2013 EACH OCCURRENCE $ 51000,000 EXCESS LIAB CLAIMS-MADE AGGREGATE $ 5 000 000 LIED I X RETENTION$ 10,00 1 $ WORKERS COMPENSATION W AT TS- R- AND EMPLOYERS'LIABILITY ANY PROPRIETOR/PARTNER/EXECUTIVE D YIN NIA EL EACH ACCIDENT $ C°FICER/MEMBER EXCLUDE IMandatory in NH) EL DISEASE-EA EMPLOYEE $ f yes describe under DESCRIPTION OF OPERATIONS below EL DISEASE-POLICY LIMIT $ F. DESCRIPTION OF OPERATIONS I LOCATIONS/VEHICLES(Attach Acord 101,Additonal Remarks Schedule,if more space is required) Re: Lease Agreement for Parking and Storage Area (At South 222nd Block and 68th Avenue South, Kent, WA) . Named Insured Includes: Terreno Valley Corporate, LLC. The City of Kent, a Washington Municipal Corporation of the State of Washington is an Additional Insured with respect to the General Liability and Umbrella coverages, when required by written contract. CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS The City of Kent, a Washington Municipal Corporation of the AUTHORIZED REPRESENTATIVE State of Washington 220 4th Avenue South Kent, WA 98032 Coll:3743589 Tpl:1457400 Cert:17929193 ©1988-2010 ACORD CORPORATION All rights reserved. ACORD 25(2010105) The ACORD name and logo are registered marks of ACORD AGENCY CUSTOMER ID• 22013277 LOC# ADDITIONAL REMARKS SCHEDULE Paged of 2_ AGENCY NAMED INSURED Terreno Realty Corporation Willis of Maryland, Inc. 101 Montgomery Street POLICY NUMBER San Francisco, CA 94104 See First Page CARRIER NAIC CODE National Union Fire Ins. Co. of Pittsbur 19445-000 EFFECTIVEDATE See First Page ADDITIONAL REMARKS THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER, 25 FORMTITLE- CERTIFICATE OF LIABILITY INSURANCE Insured's General Liability and Umbrella policies are Primary and Non-contributory, as required by written contract or agreement. Waiver of Subrogation applies with respect to General Liability and Umbrella policies, as required by written contract or agreement. ACORD 101 (2008101) Coll:3743589 Tpl:1457400 Cert:17929193 02008ACORD CORPORATION All rights reserved. The ACORD name and logo are registered marks of ACORD REQUEST FOR MAYOR'S SIGNATURE �✓ KENT Please Fill in All Applicable Boxes Nnnn.r�ry Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT) Originator: Ingrid Willms-Dixon Phone (Originator): 856-5519 Date Sent: May , 2012 Date Required: May , 2012 Return Signed Document to: Ingrid Willms- CONTRACT TERMINATION DATE: 9-30-16 Dixon VENDOR NAME: Terreno Valley Corp. LLC DATE OF COUNCIL APPROVAL: 2-7-12 Brief Explanation of Document: Lease agreement for a parking and storage area, on City property, at South 222nd and 69th Ave South All Contracts Must Be Routed Through The Law Department Zhis_jrea to be ffccoo�mpleted by the Law Department) Received: ���l`VEV Approval of Law Dept.: WY2 5 2012 e 01,t.t at,ar Law De t. Comments: KENT k A' DEPT ' Date Forwarded to Mayor: 0 Z( I 2- Shaded Areas To Be Completed By Administration Staff Received: �i( 9 c Recommendations and Comments. L-e4 Disposition:���Z���L—�—' zBO� �y CI�pFkE,4'i Date Returned: