X Amendment 1
POS Agreem
ent #SEA000294
Mad Anthony’s, Inc.
June 1, 2020
AMENDMENT TO LEASE
BETWEEN
PORT OF SEATTLE
AND
MAD ANTHONY’S, INC.
AT
PIER 66
THIS X AMENDMENT TO LEASE is made as of June 1, 2020 by and between the PORT OF
SEATTLE, a Washington municipal corporation, hereinafter called “Owner” or “the Port,” and
MAD ANTHONY’S, INC., a Washington corporation, hereinafter called “Tenant,”
WITNESSETH:
WHEREAS, the parties entered into the Bell Street Pier Restaurant Lease Agreement dated
February 14, 1995, hereinafter called the “Basic Lease,” covering certain premises and activities
by Tenant at Pier 66, Seattle, Washington; and
WHEREAS, the parties now wish to amend the Basic Lease by removing the monthly minimum
rent requirement for two years and adjusting percentage rent in the Basic Lease;
NOW THEREFORE, in consideration of their mutual promises, the parties hereby agree as
follows:
1. Section 4a. of the Basic Lease is revised to add the following paragraphs:
(8) For the period June 1, 2020 – May 31, 2022: Tenant shall owe no monthly or
annual minimum rent.
(9) Commencing June 1, 2022, the Tenant shall pay the Owner monthly minimum
rent which shall be calculated in accordance with the provisions of Section 4.a(7). For the
purposes of calculating minimum rent for the period June 1, 2022 – May 31, 2024, the
minimum rent charged in the 12 months preceding the date of execution of this agreement
shall be used.
2. Section 4b. of the Basic Lease is revised to add the following paragraphs 4.b(4), 4.b(5) and
4.b(6):
(4) Commencing June 1, 2020 through May 31, 2022 Tenant shall pay Owner
percentage rent in the amount of 6.5% of all Gross Sales (as defined in paragraph 4c. of the
Basic Lease) during each calendar year.
(5) Commencing June 1, 2022 Tenant shall pay Owner percentage rent in the amount
of 6.25% of Gross Sales in accordance with the provisions of paragraph (1) of this section.
Item 6g attach 1
Date of Meeting June 23, 2020
X Amendment 2
POS Agreement #SEA000294
Mad Anthony’s, Inc.
June 1, 2020
(6) During the period specified in paragraph (4), percentage rent shall constitute the
contract rent for purposes of determining taxable rent for assessment of leasehold excise
tax. During the period specified in paragraph (5), both minimum rent and percentage rent
shall constitute the contract rent for purposes of determining taxable rent for the assessment
of leasehold excise tax (“LET”). Tenant agrees that in the event the Washington
Department of Revenue (“DOR”) determines, based on Chapter 82.29A RCW or any
revision or amendment thereto, that LET is due in an amount greater than the amount
invoiced or remitted by the Port, whether assessed based on the percentage rent, minimum
rent, or otherwise, Tenant agrees that payment of same shall be the sole responsibility of
Tenant and Tenant shall indemnify and hold the Port harmless from and against any such
LET assessed, including any penalties or interest. The obligations set forth in this section
shall survive any termination of the Lease.
3. Tenant shall promptly furnish in a form satisfactory to the Port evidence indicating the
consent of surety on Tenant's letter of credit to all provisions of this amendment.
4. Except as expressly amended herein, all provisions of the Basic Lease shall remain in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this first amendment as of the day
and year first above written.
LESSOR TENANT
PORT OF SEATTLE MAD ANTHONY’S, INC.
By _________________________________ By _________________________________
Its_______________________________ Its_______________________________
X Amendment 3
POS Agreement #SEA000294
Mad Anthony’s, Inc.
June 1, 2020
Notary to ˍˍˍˍˍˍ Amendment to Lease
with ˍˍˍˍˍˍ
at Terminal/Pier ˍˍˍˍˍˍ.
STATE OF WASHINGTON )
) ss
COUNTY OF KING )
On this _____ day of ___________________, 20_____, before me personally appeared
____________________________, to me known to be the _________________________________ of the PORT
OF SEATTLE, the municipal corporation that executed the within and foregoing instrument, and acknowledged said
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 s/he was authorized to execute said instrument.
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above
written.
_____________________________________________
(Signature)
_____________________________________________
(Print Name)
Notary Public, in and for the State of Washington,
residing at _____________________________________
My Commission expires: _________________________
STATE OF WASHINGTON )
) ss
COUNTY OF KING )
On this _____ day of ___________________, 20_____, before me personally appeared
____________________________, to me known to be the _________________________________ of the
___________________________________, the individual/entity that executed the within and foregoing instrument
as Tenant, and acknowledged said instrument to be the free and voluntary act and deed of said individual/entity, for
the uses and purposes therein mentioned, and on oath stated that s/he was authorized to execute said instrument.
In Witness Whereof I have hereunto set my hand and affixed my official seal the day and year first above
written.
_____________________________________________
(Signature)
_____________________________________________
(Print Name)
Notary Public, in and for the State of Washington,
residing at _____________________________________
MY COMMISSION EXPIRES:
–
