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KITTITAS COUNTY AIRPORT DEPARTMENT OF PUBLIC WORKS LEASE THIS LEASE made and entered into this 1st day of January, 2015 by and between Kittitas County, a municipal corporation in the State of Washington, hereinafter referred to as the LESSOR, and Ellensburg Pallets LLC, a Washington Corporation with a Washington Secretary of State UBI number of 603402078, hereinafter referred to as the LESSEE. WITNE SSE TH: The Lessor hereby agrees to lease to the Lessee, and the Lessee hereby agrees to lease from the Lessor, the following described real property (hereinafter the "Property"): See Exhibit' A" attached hereto, also described as: Lot C-38, as shown on Kittitas County Amended Binding Site Plan BS-10-00001, as recorded June 28,2010, in Book 11, pages 249-255, County of Kittitas, State of Washington. Containing 172,497.6 sq. ft. or 3.96 acres more or less. AND Three (3) buildings upon Lot C-38 of the Kittitas County Amended Binding Site Plan described as (1) 800 square foot Quonset; (1) 1500 square foot Pole Building; and (1) 168 square foot Cider Block Building. This lease is made in accordance with Chapter 2.81 KCC. This lease is subject to the provisions of Chapter 59.12 RCW as currently existing of hereafter amended . 1. TERM: The tenn of this lease shall be 5 years and will commence on the 1st day of January, 2015. 2. RENT: Rent shall be paid in advance on an annual basis, with the first payment due on or before the 1st day of January of each year and continuing thereafter until tennination of this lease. The rental for each year shall be as follows: Rental Rate (Ground Lease) Term ($.063 per Sq. Ft) N ot Includin!! Leasehold Tax* 01/01/15 -12/31/15 $ 10 ,867.35 0 1/01116 -12/3 1/16 $ 10,867.35 01/01117 -12/31/17 $ 10,867.35 01101118 -12/31/18 $ 10,867.35 OJ/OJ/12 -12i3l1 L9 $ 10,867.35 01101120 Renegotiate *The current Leasehold Excise Tax Rate is 12.B4%. as determined by the State o/Washington and is subject to change. PAGE 1