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KITTITAS COUNTY AIRPORT <br />C. January 1.2021: Effective this date, the monthly lease payment shall be increased by <br />one and one-half percent (1.5%) as a set lease rate increase. The lease rate shall <br />increase by 1.5% each year thereafter, i.e. January 1, 2019/2020/2021/2022. <br />3) ADJUSTMENT OF RENTAL., Effective January 1, 2024, the United States <br />Bureau of Labor Statistics Consumer Price Index (CPI), Seattle -Everett Metropolitan <br />Area, All Urban Consumers - Base Year 1984 average shall be computed for the <br />years 2019 through 2023. If the CPI average is higher for the previous five (5) years <br />than the 1.5% per year used the previous five (5) years, the rate increase applicable <br />January 1, 2024, shall be this average CPI increase. This new average rate increase <br />shall be used for the next five (5) calendar years, i.e. January 1, 2024 through 2028. <br />Effective January 1, 2024, the adjustment of the lease rate shall be accomplished in a similar <br />manner. The previous five (5) years US Bureau of Labor Statistics CPI average will be <br />computed (2019 through 2023) and compared to the increase made over the preceding five <br />(5) years. The higher rate shall apply for the next five (5) years. This methodology shall <br />be used throughout the remaining years of the agreement <br />The rent shall not decrease in the event of a decrease in the Consumer Price In. over any <br />five (5) year period. If the average CPI for any five-year period is less than the rate used the <br />previous five (5) years, the higher rate shall continue to apply. <br />Modifications to the rental rate per square foot of airport property shall be based on the then <br />current "aviation" (direct aeronautical) or "commercial" (non -aeronautical) standard rate as <br />set by LESSOR and the specific property areas being leased. <br />4. LEASEHOLD TAX: In addition to any rental herein provided, the Lessee shall pay to the <br />Lessor the leasehold tax as set forth by the State of Washington in Chapter 61, Laws of 1976, <br />Second Executive Session (R.C.W. 82.29A) or as amended. The tax shall be due and payable at <br />the same time the rental charged herein is due and payable. <br />5. FIRE PROTECTION ASSESSMENT In addition to any rental herein provided, the Lessee <br />shall pay a fee which shall be in lieu of taxes for fire protection services. The annual rate <br />shall be based upon the annual fire assessment determined by the Kittitas County Assessor <br />and Kittitas Valley Fire & Rescue to be calculated on January l st of the current year. The <br />assessment shall be pro -rated monthly, due and payable concurrently with the monthly lease <br />payment. <br />6. UTILITIES: The Lessee shall pay for extension of and all utility services supplied to the <br />premises. Any such extensions shall be subject to the advance review of the Lessor. <br />7. PURPOSE: It is understood by Lessee that only construction and repair of wooden, plastic, or <br />metal commercial pallets may be conducted on the premises. In the event that the Lessee <br />conducts any other business or operations other than pallet construction and pallet repair, the <br />Lessor may terminate this lease by giving ninety (90) days written notice to Lessee, <br />notwithstanding the notice provisions of Section 22 herein. In the event of termination by Lessor <br />PAGE 3 <br />