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KITPITAS COUNTY AIRPORT <br />that square footage that is used. Any rental payment past due shall accrue a <br />delinquency charge of eighteen percent (12%) per annum, levied monthly. <br />ADJUSTMENT OF RENTAL: January 1, 2026: Effective this date, the annual <br />lease payment shall be increased by one and one-half percent (1.5%) as a set lease <br />rate increase. The lease rate shall increase by 1.5% each year thereafter, i.e. January <br />1, 2027/2028/2029. <br />Modifications to the rental rate per square foot of airport property shall be based on the then <br />current "aviation" (direct aeronautical) or "commercial" (non -aeronautical) standard rate as <br />set by LESSOR and the specific property areas being leased. <br />4. LEASEHOLD TAX: In addition to any rental herein provided, the Lessee shall pay to the <br />Lessor the leasehold tax as set forth by the State of Washington in Chapter 61, Laws of 1976, <br />Second Executive Session (R.C.W. 82.29A) or as amended. The tax shall be due and payable at <br />the same time the rental charged herein is due and payable. <br />FIRE PROTECTION ASSESSMENT In addition to any rental herein provided, the Lessee <br />shall pay a fee which shall be in lieu of taxes for fire protection services. The annual rate <br />shall be based upon the annual fire assessment determined by the Kittitas County Assessor <br />and Kittitas Valley Fire & Rescue to be calculated on January 1" of the current year. The <br />assessment shall be pro -rated monthly, due and payable concurrently with the monthly lease <br />payment. <br />6. REET 1 AND REET 2 Kittitas County Reserves the right to impose the REET i tax on all <br />sales of leasehold improvements per RCW 82.46.010. Any city, town, or county may impose <br />a 0.25% real estate excise tax — known as REET I or the "first quarter percent". If a county <br />imposes this tax, it is applied within the unincorporated areas only. The County also reserves <br />the right to impose the REET 2 tax on all sales of leasehold improvements. <br />6. UTILITIES: The Lessee shall pay for extension of and all utility services supplied to the <br />premises. Any such extensions shall be subject to the advance review of the Lessor. <br />7. PURPOSE: It is understood by Lessee that only construction and repair of wooden, plastic, or <br />metal commercial pallets may be conducted on the premises. In the event that the Lessee <br />conducts any other business or operations other than pallet construction and pallet repair, the <br />Lessor may terminate this lease by giving ninety (90) days written notice to Lessee, <br />notwithstanding the notice provisions of Section 22 herein. In the event of termination by Lessor <br />pursuant to this section, all rents shall be pro -rated to the date Lessee shall have restored the <br />premises to the Lessor in accordance with the terms of the lease agreement governing Lessee's <br />duties to restore the premises to Lessor upon expiration of the lease temp. <br />8. RULES AND REGULATIONS: The Lessee agrees to comply with all pertinent rules and <br />regulations of the federal, state and local governments, as well as the rules, regulations, <br />ordinances, and minimum standards of the Kittitas County Airport (Bowers Field), as are <br />PAGE 3 <br />