EmoryLLC_AmendmenttoLease_LotC3_BowersField

Home Browse Search

KITTITAS COUNTY AIRPORT -BOWERS FIELD Lease Addendum THIS ADDENDUM TO LEASE is made and dated this day of, , 2025, by and between KITTITAS COUNTY, a municipal corporation in the State of Washington, hereinafter referred to as the LESSOR, and EMORY LLC, and hereinafter referred to as the LESSEE. WITNES SETH: WHEREAS LESSOR and LESSEE entered into a Lease on September 1, 2008, a copy of which is attached hereto and by this reference incorporated herein; and WHEREAS, according to Paragraph 3 "Rental Rate Adjustment", it states "the rental rate shall be re -adjusted per the CPI index every five years as required in RCW 36.34.180". WHEREAS, per Paragraph 3 "Rental Rate Adjustment", the rental rate was not re -adjusted and fixed per the required timeline due to staff oversight; and WHEREAS, upon researching the CPI index it was discovered that the CPI identified for re- adjustment (Size Class D under 50,000) was discontinued by the U.S. Bureau of Labor Statistics in 2018; and WHEREAS, for continuity with current lease rate adjustment procedures, the yearly Lease rate shall be increased by ten percent (10%) every five (5) years as a set Lease rate increase through the Lease term; and WHEREAS, this Lease Addendum hereby satisfies the Paragraph 3 "Rental Rate Adjustment" clause per the lease terms. NOW, THEREFORE, IT IS HEREBY AGREED by and between the parties to a change in rental rates and contract terms as follows: 1) "Paragraph #2 - Rent" - Rental Rates for 09/01/2025 thru 08/31/2030 Term - will read as follows for: LOT C-3 Rate —1.28 Acres (55,756.80 square feet) TERM Previous Rate Per Year ($.065 per Sq. Ft.) Current Rental Rate ($.072 per Sq. Ft.) Not including Leasehold Tax* $3,614.82 09/01/2025 — 08/31/2026 $4,014.49 09/01/2026 — 08/31/2027 $4,014.49 Lease Addendum (3) — Emory LLC