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KITTITAS 2.-UNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS LEASE <br />THIS LEASE made and entered into this 13th day of August,1996,by and betweenKittitasCounty,a municipal corporation in the State of Washington,hereinafter referred to <br />as the LESSOR,and DAVID RATCLIFF,hereinafter referred to as the LESSEE. <br />WITNESSETH: <br />The Lessor hereby agrees to fease to the Lessee,and the Lessee herebyagreestoleasefromtheLessor,the real property described in Exhibit "A" <br />attached hereto and by this reference incorporated herein. <br />Containing 6868.55 sq.ft,more or less <br />This lease is made in accordance with RCW 36.34. <br />TERM:The term of this lease shall be for twenty-five (25)years and will commence <br />on the 1st day of August,1996,and terminate on the last day of July,2021,except asprovidedhereunder. <br />This lease may be extended in five year increments following completion of the 25th yearsubjecttothesuchtermsandconditionsasmaybeestablishedby,and at the solediscretionof,the Lessor.Failure to comply with the terms of this Lease by the Lessee may <br />be sole cause for non-renewal or termination of this Lease by the Lessor,and such otherremediesasareavailabletotheLessor. <br />RENT:Rent shall be paid in advanœ on an annual basis,with the first payment due <br />on or before the 1st day of August of each year beginning in 1996,and continuingthereafteruntilterminationofthislease.The rental for each year shall be as follows: <br />Rental Periods Annual Monthly <br />08/01/96 to 7/31/01 $343.44 $28.62 <br />08/01/01 to 7/31/06 $412.11 $34.34 <br />08/01/06 to 7/31/11 To be negotiated <br />08/01/11 to 7/31/16 To be negotiated <br />08/01/16 to 7/31/21 To be negotiated <br />Alternatively,the lease payment may be paid in monthly installments equal to 1/12 <br />of the annual lease amount.Said monthly installments shall be paid in advance and are <br />due no later than the 25th day of each foregoing month. <br />RATCLIFF LEASE AGE 1