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f <br />KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS <br />THIS LEASE made and entered into this 1't day of June, 2010, by and between <br />Kittitas county, a municipalcorporation in the state of washington, h_ereinafter refened <br />io ", tn" LEssoR, and Carrera Hangars LP, a limited partnership formed in the state <br />of Washington, hereinafter refened 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 realproperty: <br />(Property DescriPtion) <br />Contalning 19,800 sq ft, or 0.455 acres more or less' <br />This lease is made in accordance with Chapter 36.34 RCW. This lease is subject to the <br />prouirionr of chapter 59.12 RCW as cunently existing of hereafter amended. <br />1. TERM: The term of this lease shall be forforty (40) years and will commence on the <br />1tr daY of June, 2010. <br />2. RENT: Rent shall be paid in advance on an annual basis, with the first payment <br />offin or before the 1st day of June of each year and continuing thereafter until <br />termination of this lease. The rental for each year shall be as follows: <br />RentalPerioiq Annual <br />$2,376.00 (12 cents Per sq/ft) <br />To be determined under ParagraPh 4 <br />To be determined under ParagraPh 4 <br />To be determined under ParagraPh 4 <br />To be determined under ParagraPh 4 <br />To be determined under ParagraPh 4 <br />To be determined under ParagraPh 4 <br />To be determined under ParagraPh 4 <br />Lease Termination <br />06/01 /201 0- 05131 1201 5 <br />06101 1201 5 - 05131 12020 <br />06101 12020 - 05131 I 2025 <br />061 01 12025 - 05/31 /2030 <br />06/01 /2030 - 05131 12035 <br />06/01 /2035 - 05131 12040 <br />06101 12040 - 05131 12045 <br />06101 12045 - 05/31 /2050 <br />06/31/2050 <br />PAGE 1