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KITTITAS COUNTY (( ORIGI\IAL <br />AIRPORT <br />D <br />KITTITAS COUNTY AIRPORT <br />DEPARTMENT OF PUBLIC WORKS LEASE <br />THIS LEASE made and dated this / day of September, 2008, is by and between theCOUNTY OF KITTITAS, Washington, the L6ssor hereinafter referred to as th-e "County,', <br />"nJ <br />- <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 Couniy, Washington, <br />to-wit: <br />, Parcel No. G-3 of the Airport Binding Site plan <br />1.28 Acres - 55,756.80 . 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 1st day of September, 2008, and shall terminate on the last day of August, 203g <br />RENT- Rent shall be paid in advance for each year at a rate determined by the Lessor,[iffiasenold tai, and flre protection and shallbe as follows: <br />September 1, 2008 - August 31, 2009 $ 3,512.69 <br />September 1,2009 - August 31,2010 $ 3,S12.6g <br />September 1,2010 - August 31,2011 $ 3,512.6g <br />September 1,2011 -August 91,2012 $ 3,S12.6g <br />September 1,2012 - August g1, ZO13 $ 3,512.6g <br />September 1,2013 TO BE NEGOTIATED <br />RENTAI.' RATE ADJUSTMENT: Pursuant to RCW 36.34.180 the rentat for every fiveyear period thereafter, or part thereof, at the commencement of such period, shall bereadjusted and fixed by the Board of County Commissioners; <br />AU0 07 2008 <br />KITTITAS COUNry <br />DEPT. OF PUBLICWORKS <br />2) <br />3) <br />(a) After the fifth year, the Lessor shall have the right to readjust thd rent on or <br />lgfore september 1'r of the fifth, tenth, fifteenth, twentieth, ana tnventy-fifth years of this lease for each following five year period; and the increjse <br />shall BE THE cUMULATtvE EFFECT oF THE cpr INDEX ovER THE <br />PREVIOUS FIVE YEARS. lt is agreed between LESSOR and LESSEE that the <br />following CPI lndex will be used for future rentat increases: <br />"CPl - All Gities-All ltems Size Class D Under 50,000.,' <br />LAND LEASE .INDUSTRIAL AREA PAGE 1