Laserfiche WebLink
KITTITAS COUNTY AIRPORT -BOWERS FIELD <br />Lease Addendum <br />THIS ADDENDUM TO LEASE is made and dated this 2--b day of, Lt' , 2024, <br />by and between KITTITAS COUNTY, a municipal corporation in the State of Washington, <br />hereinafter referred to as the LESSOR, and VALLEY FENCE INC., and hereinafter referred to <br />as the LESSEE. <br />WITNESSETH: <br />WHEREAS, LESSOR and LESSEE entered into a Lease on August 1, 2017, a copy of <br />which is attached hereto and by this reference incorporated herein; and <br />WHEREAS, according to Paragraph 3 "Rental Rate Adjustment", it states "the rental <br />rate shall be re -adjusted and fixed by the Board of County Commissioners every five years as <br />required in RCW 36.34.180"; and <br />WHEREAS, per Paragraph 3 "Rental Rate Adjustment", the rental rate was not re- <br />adjusted and fixed per the required timeline due to staff oversight; and <br />WHEREAS, upon researching the CPI index it was discovered that the CPI identified for <br />re -adjustment (Size Class D under 50,000) was discontinued by the U.S. Bureau of Labor <br />Statistics in 2018; and <br />WHEREAS, for continuity with current lease rate adjustment procedures, the yearly <br />Lease rate shall be increased by ten percent (10%) every five (5) years as a set Lease rate <br />increase through the Lease term; and <br />WHEREAS, this Lease Addendum hereby satisfies the Paragraph 3 "Rental Rate <br />Adjustment" clause per the lease terms. <br />NOW, THEREFORE, IT IS HEREBY AGREED by and between the parties to a <br />change in rental rates and contract terms as follows: <br />1) "Paragraph #2 - Rent" - Rental Rates for 08/01/2022 thru 07/31/2027 Term - will read <br />as follows for: <br />Lease Addendum (1) — Valley Fence, Inc. <br />