Item No. 10a_Attach 2
Meeting Date: May 26, 2026

FIRST AMENDMENT TO
BELL STREET CRUISE TERMINAL SUBLEASE AGREEMENT
THIS FIRST AMENDMENT TO BELL STREET CRUISE TERMINAL SUBLEASE
AGREEMENT ("FIRST AMENDMENT TO SUBLEASE") is made as of _______________,
20_____, by and between the PORT OF SEATTLE, a Washington municipal corporation ("the
Port") and Tenant, as defined in Section 1.44 of the Prime Lease.
WHEREAS, the Port has leased the Bell Street Cruise Terminal Area to Tenant under that
certain Bell Street Cruise Terminal Lease Agreement of August 14, 2015 (the "Prime Lease");
and
WHEREAS, the parties entered into a Bell Street Cruise Terminal Sublease Agreement dated
August 14, 2015 (the "Sublease"); and
WHEREAS the Port and Tenant are amending and assigning the Prime Lease by a First
Amendment to Bell Street Cruise Terminal Lease Agreement and a Conditional Consent to
Assign; and
WHEREAS, the parties now wish to revise the Sublease as described below.
NOW THEREFORE, in consideration of their mutual promises, the parties hereby agree as
follows:
1.
References in the Sublease to the "Extension Period" shall include the "First Extension
Period" and the "Second Extension Period" as defined in Sections 3.2 and 3.3 of the Prime
Lease.
2.
References in the Sublease to "NCLH" shall be replaced with "Tenant" as that term is
defined in Section 1.44 of the Prime Lease.
3.
B.

New Exhibit B-1 is attached hereto and incorporated herein, superseding previous Exhibit

4.
Except as expressly amended herein, all provisions of the Sublease shall remain in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Sublease as
of the day and year first above written.

PORT
PORT OF SEATTLE

TENANT
NCL (BAHAMAS) LTD.

By _________________________________
Its_______________________________

By _________________________________
Its_______________________________

TENANT
OCEANIA CRUISES LTD.

TENANT
SEVEN SEAS CRUISES LTD.

By _________________________________
Its_______________________________

By _________________________________
Its_______________________________

Notary to First Amendment to Lease
with Norwegian Cruise Line Holdings, LTD.
STATE OF WASHINGTON
COUNTY OF KING

)
)ss
)

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 FLORIDA

)
) ss

COUNTY OF MIAMI-DADE

)

On this _____ day of ___________________, 20_____, before me personally appeared
____________________________, to me known to be the _________________________________ of NCL
(BAHAMAS) LTD., 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 Florida,
residing at _____________________________________
My Commission expires: _________________________
STATE OF FLORIDA

)
) ss

COUNTY OF MIAMI-DADE

)

On this _____ day of ___________________, 20_____, before me personally appeared
____________________________, to me known to be the _________________________________ of OCEANIA
CRUISES LTD., 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 Florida,
residing at _____________________________________
My Commission expires: _________________________
STATE OF FLORIDA

)
) ss

COUNTY OF MIAMI-DADE

)

On this _____ day of ___________________, 20_____, before me personally appeared
____________________________, to me known to be the _________________________________ of SEVEN
SEAS CRUISES LTD., 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 Florida,
residing at _____________________________________
My Commission expires: _________________________

EXHIBIT B-1
- Sublease Rent -

Period
End of Season 2017 - Beginning of Season 2018
End of Season 2018 - Beginning of Season 2019
End of Season 2019 - Beginning of Season 2020
End of Season 2020 - Beginning of Season 2021
End of Season 2021 - Beginning of Season 2022
End of Season 2022 - Beginning of Season 2023
End of Season 2023 - Beginning of Season 2024
End of Season 2024 - Beginning of Season 2025
End of Season 2025 - Beginning of Season 2026
End of Season 2026 - Beginning of Season 2027
End of Season 2027 - Beginning of Season 2028
End of Season 2028 - Beginning of Season 2029
End of Season 2029 - Beginning of Season 2030
End of Season 2030 - Beginning of Season 2031
End of Season 2031 - Beginning of Season 2032
End of Season 2032 - Beginning of Season 2033
End of Season 2033 - Beginning of Season 2034
End of Season 2034 - Beginning of Season 2035
First Extension Period
End of Season 2035 - Beginning of Season 2036
End of Season 2036 - Beginning of Season 2037
End of Season 2037 - Beginning of Season 2038
End of Season 2038 - Beginning of Season 2039
End of Season 2039 - Beginning of Season 2040
Second Extension Period
End of Season 2040 - Beginning of Season 2041
End of Season 2041 - Beginning of Season 2042
End of Season 2042 - Beginning of Season 2043
End of Season 2043 - Beginning of Season 2044
End of Season 2044 - Beginning of Season 2045

Sublease Rent
$310,700
$324,700
$339,300
$354,500
$370,400
$387,100
$404,600
$422,800
$441,900
$461,800
$482,500
$504,100
$526,800
$550,500
$575,200
$601,100
$628,200
$656,400

$685,900
$716,800
$749,100
$782,800
$818,000
$854,800
$893,300
$933,500
$975,500
$1,019,400