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' KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS LEA 5 E <br />THIS LEASE made and dated this day of , 2017, is by and <br />between the COUNTY OF KITTITAS, Washington, the Lessor hereinafter referred to as the <br />"County", and VALLEY FENCE INC., the 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 I(Mas County, Washington, <br />to -wit: <br />LOT C-7 OF THE KITTITAS COUNTY AIRPORT BINDING SITE PLAN <br />1.86 ACRES — 81,021.6 SQ. FT. <br />This lease is made in accordance with the provisions of Chapter 36.34RCW. This lease <br />is subject to the provisions of Chapter 69.12 RCW as currently existing or hereafter amended_ <br />1) TERM: <br />The term of this lease shall be for fifty (50) years and will commence on the 1st day of <br />August, 2017, and shall terminate on the last day of July, 2067. <br />2) RENT: <br />Rent shall ce paid in advance for each year at a rate determined by the Lessor, plus <br />leasehold tax, and fire protection. Lessee may pay half the rent every six months on <br />June 1 and December 1, and shall be as follows: <br />08101/2017 — 07/ 12022 Term <br />Annual Rental Rate <br />(6.063 per Sq. Ft) <br />Not Including Leasehold Tax" <br />08101/17 — 07/31118 <br />$5,1 D4.36 <br />08101/18 — 07/31/19 <br />$5,104.36 <br />08/01119 — 07/31/20 <br />$5,104.36 <br />08/01/20 — 07131/21 <br />$5,104.36 <br />08/01/29 — 07/31/22 <br />$5,104.36 <br />08/01122 <br />Renegotiate <br />*The current Leasehold Excise Tax Rate is 12.84%, as detemrined by the State of Washington and is subject <br />to change. <br />