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{ <br />KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS <br />LEASE <br />THIS LEASE made and entered into this 1"tday of February, 2012, by and <br />between Kittitas County, a municipalcorporation in the State of Washington, hereinafter <br />referred to as the LESSOR, and Chris PraE, 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 />LOT H-37 of the Kittitas County Airport Binding Site Plan in Section 25, Township 18, Range 18, <br />Washington <br />Containing 6340.20 se ft, or.15 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 />I TERM: The term of this lease shall be 25 years and will cornmence on the 1't day <br />of February,2012. <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 February of each year and continuing thereafter <br />until termination of this lease. The rentalfor each year shall be as follows: <br />Rental Periods Annual <br />02t01t2012- 01t31t13 $760.82 <br />0210112013 - 01131114 $760.82 <br />0210112014 - 01131115 $760.82 <br />02t01t2015 - 01t31t16 $760.82 <br />0210112016 - 01131117 $760.82 <br />02101117 ***TO BE NEGOTIATED*** <br />(.12 cents sq/ft) <br />3.ADJUSTMENT OF RENTAL: The rental for every five year period thereafter, or <br />part thereof, at the commencement of such period, shall be readjusted and fixed by <br />the Board of County Commissioners; <br />(a)After the fifth year, the Lessor shall have the right to readjust the rent <br />on or before February 1't of the fifth, tenth, fifteenth, tweniieth, and <br />PAGE 1