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AFTER RECORDING, RETURN TO: <br />Kittitas County <br />Department of Public Works <br />411 N. Ruby, Suite #1 <br />Ellensburg, WA 98926 <br />OUR FILE NO. <br />%I y,�,,,4 - 01.5 i ! zi <br />GRANTOR(S): <br />GRANTEE(S) (Secured Party): <br />TAX PARCEL #: <br />LEGAL (ABBREVIATED): <br />02/11/2015 01:44:39 PM 201502110012 <br />$86.00 Paget of 15 <br />Subordination NEXTITLE <br />Kittitas County Auditor <br />11111111111111111111111111 fill 111111111111111111111111111111111111111111111 Fill 11111111111 IIII IIII <br />rl M <br />(1) Carrera Hangars Bower Fields LP <br />(2) Kittitas County <br />U.S. Bank National Association <br />957121 & 958157 <br />PTN SW 24-18-18E, W.M., KITTITAS CO., WA <br />SUBORDINATION OF REVERSIONARY INTEREST <br />THE PARTIES HERETO are KITTITAS COUNTY, a municipal corporation of the State of <br />Washington, called "Landlord", CARRERA HANGARS BOWERS FIELD LP, a Washington limited <br />partnership, referred to as "Tenant", and U.S. BANK NATIONAL ASSWCIATION, hereinafter referred <br />to as "Lender". The effective date of this Agreement is 10 q , 20L6. <br />WHEREAS, Landlord and Tenant are parties to a certain Lease dated June 1, 2010 and <br />terminating on June 1, 2050, the legal description of which is attached as Exhibit "A", hereinafter referred <br />to as the " Lease" or "Ground Lease"; and <br />WHEREAS, the parties at the time of entering into said Lease contemplated that Tenant would <br />need financing to build a structure on said property and that any financial institution would require a <br />subordination of its reversionary interest; <br />WHEREAS, Lender has agreed to make a loan to an affiliate of Tenant, Carrera Aviation <br />Holdings, LP, a Washington limited partnership, to build such structure on said property; now, therefore, <br />FOR AND IN CONSIDERATION of the mutual covenants hereinafter contained, the parties <br />agree to amend the above -described Lease as follows: <br />1. Subordination and Matters Concerning Foreclosure. The reversionary interest of <br />Landlord, which for purposes hereof shall mean the possession, use and enjoyment of the leased premises, <br />is hereby subordinated to the lien of any subsequent mortgage, deed of trust or security instrument <br />SUBORDINATION OF REVERSIONARY INTEREST (ELLENSBURG) PAGE 1 <br />12187-5487/LEGAL 124047121.2 <br />