Laserfiche WebLink
t <br />KITTITAS COUNTY AIRPORT <br />A. March 1 2019 through February 28, 2024. <br />LESSEE promises and agrees to pay rent to LESSOR at the rate of <br />($0.14 per square foot) per year for the leased premises, made on or <br />before the 10th day of each month in which such payment is due. This is <br />the "then current rate" per square foot of leased property used for <br />"aeronautical purposes" and "non -aeronautical purposes" as set by <br />Bowers Field. Payments shall be made to Kittitas County Department of <br />Public Works. Any rental payment past due shall accrue a delinquency <br />charge of eighteen percent (18%) per annum, levied monthly. <br />B. For that area only used for storage, manufacturing, warehousing and/or <br />other business uses associated with Emergency Services and <br />Administration, LESSEE promises and agrees to pay rent to LESSOR at <br />the rate of ($0.14 per square foot) per year for the leased premises, made <br />on or before the 10th day of each month in which such payment is due. <br />The rate for this square footage shall be in lieu of the rate established in <br />Paragraph A above, and is not additive for that square footage that is <br />used. <br />ADJUSTMENT OF RENTAL: <br />Effective March 1, 2020, the annual lease payment shall be minimally <br />increased by one and one-half percent (1.5%) as a set lease rate <br />increase. The lease rate shall increase by 1.5% each year of this lease <br />amendment and compared against the Consumer Price Index as follows: <br />Effective January 1, 2024, the United States Bureau of Labor Statistics <br />Consumer Price Index (CPI), Seattle -Everett Metropolitan Area, All Urban <br />Consumers - Base Year 1984 average shall be computed for the years <br />2019 through 2023. <br />If the CPI average is higher for the previous five (5) years than the 1.5% <br />per year used the previous five (5) years, the rate increase applicable <br />January 1, 2024, shall be this average CPI increase. This new average <br />rate increase shall be used for the next five (5) calendar years, i.e. <br />January 1, 2024 through 2028. This methodology shall be used <br />throughout the remaining years of the agreement. <br />Modifications to the rental rate per square foot of airport property shall be <br />based on the then current "aviation" (direct aeronautical) or "commercial' <br />(non -aeronautical) standard rate as set by LESSOR and the specific <br />property areas being leased. <br />All other terms and conditions of the aforementioned lease shall remain the <br />same. <br />ADDENDUM TO LEASE - KITTCOM _ PAGE 2 <br />