Form 8-K Apartment Income REIT, For: May 19 Filed by: Apartment Income REIT Corp.
AMENDMENT TO MASTER LEASING AGREEMENT
THIS AMENDMENT TO MASTER LEASING AGREEMENT (this “Amendment”) is made as of May 19, 2022 (the “Amendment Effective Date”) by and between Apartment Income REIT, L.P., a Delaware limited partnership (formerly known as AIMCO Properties, L.P.) (“AIR”), and Aimco Development Company, LLC, a Delaware limited liability company (“DevCo”). AIR and DevCo may be referred to herein each individually as a “Party” and collectively as the “Parties”.
RECITALS
A. AIR and DevCo have entered into that certain Master Leasing Agreement, dated as of December 15, 2020, with respect to the leasing of certain real property, including the land and any improvements located thereon as further described therein (as amended from time to time, the “Master Leasing Agreement”).
B. AIR and DevCo desire to amend certain terms of the Master Leasing Agreement as more particularly set forth in this Amendment.
AGREEMENTS
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
“(a) Term of this Agreement. The term of this Agreement shall be for eighteen (18) months, commencing on the Effective Date and expiring on the date immediately preceding the eighteenth (18th) month anniversary of the Effective Date (the “Initial Term”), unless earlier terminated as provided in this Agreement; provided, however, that the term of this Agreement shall automatically renew each year for an additional one (1) year period (the Initial Term, as may be extended hereby, the “Term”), unless and until either AIR or DevCo delivers written notice on or before 11:59 p.m. (Mountain time) on the day immediately prior to the end of the then existing term (as extended hereby) to the other electing to terminate this Agreement, in which case this Agreement shall terminate as of the last day of the then existing term.”
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IN WITNESS HEREOF, the Parties hereto have caused this Amendment to be executed as of the Amendment Effective Date.
AIR: |
APARTMENT INCOME REIT, L.P., a Delaware limited partnership By: AIR-GP, Inc., its general partner, a Delaware corporation |
|
By: /s/ Lisa R. Cohn Name: Lisa R. Cohn |
[signatures continue on following page]
DevCo: |
AIMCO DEVELOPMENT COMPANY, LLC, a Delaware limited liability company, |
|
By: /s/ Jennifer Johnson Name: Jennifer Johnson |
[end of signature pages]
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