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KITTITAS COUNTI <br />AIRPORT <br />" i'''"' KITTITASCOUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS L E A S E <br />THIS LEASE made and dated this 1" day of April, 2008, is by and between the <br />COUNTY OF KITTITAS, Washington, the Lessor hereinafter referred to as the "County", and <br />AIRPORT SAFE STORAGE LLC the Lessee, hereinafter referred to as the "Lessee". <br />The County herewith agrees to let unto Lessee and Lessee herewith agrees to lease <br />from the County the following described real property, situated in Kittitas County, Washington, <br />to -wit: <br />AIRPORT BINDING SITE PLAN — LOT C-34 & LOT C-35 <br />(Site Plan Attached) <br />Lot C-34 2.50 Acres — 108,900.00 Square Feet <br />Lot C-35 2.51 Acres - 109,335.60 Square Feet <br />This lease is made in accordance with the provisions of RCW 36.34. <br />1) TERGA -The term of this lease shall be for thirty-five (35) years and will commence <br />on the 1st day of April, 2008, and shall terminate on the last day of March, 2043. <br />2) RENT- Rent shall be paid in advance once every six months at $.063 per square foot for <br />the first year, then for each year after that at $.063 per square foot plus leasehold tax, <br />and fire protection shall be as follows: <br />April 1, 2008- September 31, 2008 $ 6,874.42 <br />September 31, 2008 —'March 31, 2009 $ 6,874.42 <br />April 1, 2009 - March 31, 2010 $ 13,748.84 <br />April 1, 2010 - March 31, 2011 $ 13,748.84 <br />April 1, 2011 - March 31, 2012 $ 13,748.84 <br />April 1, 2012 - March 31, 2013 $ 13,748.84 <br />TO BE NEGOTIATED <br />3) RENTAL HTE ADJUSTMENT- Beginning with the year April 1, 2013, the rental rate <br />shall be re -adjusted and fixed by the Board of County Commissioners every five <br />years as required in RCW 36.34.180. <br />(a) Beginning the fifth year, the Lessor shall have the right to readjust the rent on or <br />before April 15' of the fifth, tenth, fifteen, twentieth, twenty-fifth, thirtieth, and <br />thirty-fifth years of this lease for each following five year period; provided, <br />however that any increase shall NOT EXCEED THE CUMULATIVE EFFECT OF <br />THE CPI INDEX OVER THE PREVIOUS FIVE YEARS. It is agreed between <br />LESSOR and LESSEE that the following CPI Index will be used for future rental <br />increases. <br />AIRPORT SAFE STORAGE LLC <br />PAGE 1 <br />