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KITTITAS COUNTY <br />�1 <br />AIRPORT <br />KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS <br />0 <br />AUG 07 2008 <br />L E A S E KITTITAS COUNTY <br />DEPT. OF PUBLIMORKS <br />THIS LEASE made and dated this J day of September, 2008, is by and between the <br />COUNTY OF KITTITAS, Washington, the Lessor hereinafter referred to as the "County", and <br />EMORY L.L.C. the Lessee, hereinafter referred to as the "Lessee". <br />The County herewith agrees to let unto Lessee and Lessee herewith agrees to lease <br />from the County the following described real property, situated in Kittitas County, Washington, <br />to -wit: <br />Parcel No. C-3 of the Airport Binding Site Plan <br />1.28 Acres - 55,756.80 Sq. Feet. <br />This lease is made in accordance with the provisions of Chapter 36.34RCW. This lease <br />is subject to the provisions of Chapter 59.12 RCW as currently existing or hereafter amended. <br />1) TERM -The term of this lease shall be for thirty (30) years and will commence <br />on the 1 st day of September, 2008, and shall terminate on the last day of August, 2038. <br />2) RENT- Rent shall be paid in advance for each year at a rate determined by the Lessor, <br />plus leasehold tax, and fire protection and shall be as follows: <br />September 1, 2008 — August 31, 2009 <br />$ 3,512.68 <br />September 1, 2009 — August 31, 2010 <br />$ 3,512.68 <br />September 1, 2010 — August 31, 2011 <br />$ 3,512.68 <br />September 1, 2011 —August 31, 2012 <br />$ 3,512.68 <br />September 1, 2012 — August 31, 2013 <br />$ 3,512.68 <br />September 1, 2013 TO BE NEGOTIATED <br />3) RENTAL RATE ADJUSTMENT: Pursuant to RCW 36.34.180 the rental for every five <br />year period thereafter, or part thereof, at the commencement of such period, shall be <br />readjusted and fixed by the Board of County Commissioners; <br />(a) After the fifth year, the Lessor shall have the right to readjust the rent on or <br />before September 1 St of the fifth, tenth, fifteenth, twentieth, and twenty- <br />fifth years of this lease for each following five year period; and the increase <br />shall BE THE CUMULATIVE EFFECT OF THE CPI INDEX OVER THE <br />PREVIOUS FIVE YEARS. It is agreed between LESSOR and LESSEE that the <br />following CPI Index will be used for future rental increases: <br />"CPI — All Cities -All Items Size Class D Under 50,000." <br />LAND LEASE - INDUSTRIAL AREA PAGE 1 <br />