Lease Ag - Laserfiche WebLink

Home Browse Search

KITTITAS COUNTY (7) years of free use Lessor shall have the first option to lease the meeting rooms on a periodic basis by paying market rent for the lease of the meeting rooms. 3. RENT: a. Lessee agrees to pay Lessor as Rent, without notice or demand, the annual sum as described herein in advance, on or before the first day of each and every successive calendar year during the term hereof, except that the first and last month's rent shall be paid upon the execution of this Lease. Rent shall be $.20 per square foot for 21,000 square feet, equaling $4,200 per year. b. Lessee's rent, as set forth in the preceding paragraph, is also subject to a Leasehold Tax pursuant to lhe Leasehold Tax provisions of the State of Washington set forth in chapter 82.29A RCW, and so the Lessee shall also be responsible for paying the tax of 12.84 percent of the rent amount in addition to the rental amount described in the previous paragraph. c. Said total rent, including the leasehold excise tax amount, shall be paid to Lessor, without deduction or offset, in lawful money of the United States of America, at the following location: Kittitas County Auditor 205 West Sth, Room 105 Ellensburg, Washington 98926 Or at such other place as Lessor may from time to time designate in writing. d. Lessor shall receive rent as stated above and shall be responsible for real estate taxes, Property liability insurance and maintenance, subject to the Lessee's obligations for insurance and basic maintenance as set out below, incurred by reason of Lessee's ownership and/or operation of the Premises. 4. FIRST RIGHT TO PURCHASE,As a material part of the consideration for the entry into this Lease, Lessor grants to Lessee the exclusive option to purchase Building subject to the following terms and conditions: 4.1 Exercise of Option. Lessee may not exercise its option to purchase the Premises until the fourth year of the Lease Term. Thereafter, Lessee may exercise its option at any time during the remaining term of this lease subject to the requirements of this paragraph 4. Lessee must give Lessor notice of Lessee's intent to exercise its option to purchase in writing. 4.2 Purchase Price. The option purchase price shall be Eight Hundred Sixty Thousand Dollars ($860,000.00). 4.3 Payment of Purchase Price. In the event Lessee exercises its option to purchase as provided for above Lessee shall pay the option price in cash at closing. PAGE 2