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· . <br />/ , <br />KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS <br />LEASE <br />THIS LEASE made and entered into this 1s 1 day of February, 2012, by and <br />between Kittitas County, a municipal corporation in the State of Washington, hereinafter <br />referred to as the LESSOR, and Chrls Pratz, hereinafter referred to as the LESSEE. <br />WIT N E S SET H: <br />The Lessor hereby agrees to lease to the Lessee, and the Lessee hereby agrees to <br />lease from the Lessor. the following described real property (hereinafter the "Property"): <br />LOT H-37 of the Kittitas County Airport Binding Site Plan in Section 25, Township 18, Range 18, <br />Washington <br />Containing 6340.20 sq ft, or .15 acres more or less. <br />This lease is made in accordance with Chapter 2.81 KCC. This lease is subject to the <br />provisions of Chapter 59.12 RCW as currently existing of hereafter amended. <br />1. TERM: The term of this lease shall be 25 years and will commence on the 1 st day <br />of February, 2012. <br />2. RENT: Rent shall be paid in advance on an annual basis , with the first payment <br />due on or before the 1st day of February of each year and continuing thereafter <br />until termination of this lease . The rental for each year shall be as follows : <br />Rental Periods Annual <br />02/01/2012 -01/31/13 $760.82 (.12 cents sq/ft) <br />02/01/2013 -01/31/14 $760.82 <br />02101/2014 -01/31/15 $760.82 <br />02/01/2015 -01/31/16 $760.82 <br />02/01/2016 -01/31/17 $760.82 <br />02101/17 ***TO BE NEGOTIATED*** <br />3. ADJUSTMENT OF RENTAL: The rental for every five year period thereafter, or <br />part thereof, at the commencement of such period, shall be readjusted and fixed by <br />the Board of County Commissioners; <br />(a) After the fifth year, the Lessor shall have the right to readjust the rent <br />on or before February 1 st of the fifth, tenth, fifteenth. twentieth, and <br />PAGE 1