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KITTITAS COUNTY AIRPORT <br />KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS LEASE <br />THIS LEASE made and dated this 1st day of April, 2008, is by and between the <br />COUNTY OF KIITITAS, Washington, the Lessor hereinafter referred to as the "County", and <br />AIRPORT SAFE STORAGE LLC th~ 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 <br />Lot C-35 <br />2 .50 Acres -108,900.00 Square Feet <br />2.51 Acres -109,335.60 Square Feet <br />This lease is made in accordance with the provisions of RCW 36.34. <br />I <br />1 ) TERM-The term of this lease shall be for thirty-five (35) years and will commence <br />on the 1st day of Apr\~ 2008, and shall terminate on the last day of March, 2043 . . <br />2) RENT-Rent shall be paid in ~dvance once every six months at $.063 per square foot for <br />the first year, then for each year after that at $.063 per square foot plus leasehold tax, <br />and fire protection shall be as follows : <br />April 1, 2008-Septe",~r 31, 2008 <br />September 31, 2008 ;-March 31, 2009 <br />April 1, 2009 -March 31 , 2010 <br />April 1, 2010 -March 31, 2011 <br />April 1, 2011 -March 31, 2012 <br />April 1, 2012 -March 31, 2013 <br />$ 6,874.42 <br />$ 6,874.42 <br />$ 13,748.84 <br />$ 13,748.84 <br />$13,748.84 <br />$ 13,748.84 <br />TO BE NEGOTIATED <br />3) RENTAL RATE ADJUSTMENT: Beginning with the year April 1, 2013, the rental rate <br />(a) <br />shall be re -adjusted and fixed by the Board of County Commissioners every five <br />years as required in ~CW 36.34.180. <br />Beginning the fifth year, the Lessor shall have the right to readjust the rent on or <br />before April 11t of the fifth. tenth, fifteen , twentieth, twenty-fifth" thirtieth , and <br />thirty-fifth years of this lease for each following five y~ar 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 PAGE 1