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KITTITAS COUNTY AIRPORT <br />�. DEPARTMENT OF PUBLIC WORKS <br />LEASE <br />THIS LEASE made and entered into this 1" day of April, 2017 by and between <br />Kittitas County, a municipal corporation in the State of Washington, hereinafter referred <br />to as the LESSOR, and Sierra Romeo, LLC, hereinafter referred to as the LESSEE. <br />WITNESSETH: <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 />See Exhibit "A" attached hereto, also described as: <br />Lot H-31, as shown on the Kittitas County Amended Binding Site Plan BS -10-00001, as <br />recorded June 28, 2010, in Book 11, pages 249-255, County of Kittitas, State of Washington. <br />Containing 16,988.4 sq ft, or .39 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 />TERM: The term of this lease shall be 75 years and will commence on the 15t day <br />of April, 2017. <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 April each year and continuing thereafter until <br />termination of this lease. The rental for each year shall be as follows: <br />04/01/17 — 03131/22 <br />Term <br />Rental Rate <br />($.12 per So. Ft.) <br />Not Including <br />Leasehold Tax' <br />04/01/17 — 03/31/18 <br />R&38 61 <br />04/01/18 — 03/31/19 <br />IZ,238.61 <br />04/01/19 — 03/31/20 <br />JL038.61 <br />04101 /20 — 03/31/21 <br />2 038.61 <br />04!01!21 — 03/31 /22 <br />JL038 <br />04/01/22 <br />Rene otiate <br />'The cuvent Leasehold Excise Tax Rate is 12.84%, as detenvined by the State of Washington and is subject to change. <br />PAGE 1 <br />