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KITTITAS COUNTY AIRPORT <br />? KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS L E A S E <br />THIS LEASE made and dated this 1s' day of September, 2015, is by and between the <br />COUNTY OF KITTITAS, Washington, the Lessor hereinafter referred to as the "County", and <br />PRECISION AG REPAIR 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 />LOT C-31 OF THE KITTITAS COUNTY AIRPORT BINDING SITE PLAN <br />1.09 ACRES - 47,480.40 SQ. FT. <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: <br />The term of this lease shall be for twenty-five (25) years and will commence on the 1st <br />day of September, 2015, and shall terminate on the last day of September, 2040. <br />2) RENT: <br />Rent shall be paid in advance for each year at a rate determined by the Lessor, plus <br />leasehold tax, and fire protection. Lessee may pay half the rent every six months on <br />September 1 and March 1, and shall be as follows: <br />09/01/2015 — 08/31/2020 Term <br />Annual Rental Rate <br />($.067 per Sq. Ft) <br />Not Including Leasehold Tax* <br />09/01 /15 — 08/31 /16 <br />$3,181.19 <br />09/01 /16 — 08/31 /17 <br />$3,181.19 <br />09/01 /17 — 08/31 /18 <br />$3,181.19 <br />09/01 /18 — 08/31 /19 <br />$3,181.19 <br />09/01 /19 — 08/31 /20 <br />$3,181.19 <br />09/01 /20 <br />Renegotiate <br />*The current Leasehold Excise Tax Rate is 12.84%, as determined by the State of Washington and is subject <br />to change. <br />PAGE 1 <br />LAND LEASE - INDUSTRIAL AREA <br />