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<br /> <br />BOWERS FIELD KITTITAS COUNTY AIRPORT <br /> <br /> <br /> <br />LESSEE INITIAL__________ LESSOR INIT IAL__________ <br /> <br /> PAGE 2 <br />1. LEASE PREMISES. <br /> <br />1.1 LEASE OF PREMISES. <br /> <br />LESSOR is the owner of that certain municipal airport commonly known as <br />“BOWERS FIELD INDUSTRIAL PARK”. LESSOR hereby leases to LESSEE and <br />LESSEE hereby leases from LESSOR the approximately 48,351.6 square foot <br />portion of the INDUSTRAIL PARK described on attached Exhibit A, which is <br />commonly referred to as Kittitas County Parcel No. 955303, together with all real <br />estate improvements thereon and appurtenances of (the “PREMISES”) for the <br />purposes set forth in this LEASE. LESSEE agrees to accept the PREMISES “AS <br />IS,” and LESSOR makes no warranty as to the condition of the PREMISES or their <br />suitability for any particular purpose (See KCC chapter 2.81 and RCW chapter <br />59.12). <br /> <br /> <br />2. TERM. <br /> <br />2.1 INITIAL TERM. <br /> <br />The Initial term (See KCC 2.81.070) of this LEASE shall be for a period of one (1) <br />year commencing on March 1st, 2022 (the “COMMENCEMENT DATE”) and ending <br />on February 28, 2023 (such period being the “INITIAL TERM”). <br /> <br />2.2 RENEWAL. <br /> <br />Provided that the LESSEE is not then in breach of this Lease, the Tennant may enter <br />into a new lease for a minimum of Twenty (20) years, to be negotiated no less than <br />90 days prior to expiration of the initial term. <br /> <br />2.3 TERM. <br /> <br />The word “TERM” when used in this Lease means and refers to the INITIAL TERM <br />and each RENEWAL TERM (if any) provided for under this Section 2.2. <br /> <br />2.4 EXPIRATION DATE. <br /> <br />The date on which this LEASE expires under the terms of Sections 2.1 (or 2.2 if <br />applicable) shall be the “EXPIRATION DATE”. <br /> <br />3. RENT AND PAYMENT. <br /> <br />3.1 AMOUNT DUE. <br /> <br />LESSEE covenants to pay annual “BASE RENT” on the PREMISES to LESSOR in <br />the annual amount of ($$6769.22 )¸which amount is based on a Fourteen Cent