Conduct PHearing_K. Nickerson Lease_Kittitas County Airport

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I] 10.3 Transfer Fee. Each assignment, sublease or sale administration fee. time the right to occupy a hangar unit is transferred by an the Lessee shall pay the Lessor a sum of $525.00, as an 10e4 REET1. Kittitas County reserves the right to impose the REET 1 tax on all sales -hW f I�2cPWIWPhnlr� trnnrnvem�t�ts per R('.W 9?.46. �f11 n)- Anv C.,15tv- tnvYn; n� �nz2t1tv may imnn,cP a 0025Yoreal estate excise tax —known as BEET 1 or the "first quarter percent". If a county imposes this tax, it i s applied within the unincorporated areas only. 103 Encumbrances. Lessee shall not encumber or permit the encumbrance of any real property at the Airport but not including the Premises. Lessee shall not encumber or permit the encumbrance of any of Lessee's rights under this Lease without Lessor's prior IS written consent,, which consent purported encumbrance of rights shall not be unreasonably withheld or dr in violation of this Section l0 shall be void delayed. Aniv . In connection with Lessor's consent to any encumbrance, at a minimum the following Sha I I apply: (1) 4 such encumbrance shall only encumber Lessee's leasehold interest for the purpose of securing financing for Lessee's authorized improvements and no other encumbrance shall " @ be permitted; i*i) such encumbrance shall be subordinate to Lessor's interests; (1A11) the 11'enholder must agree to maintain current contact information with Lessor and provide Lessor with concurrent copies of any notices or communications regarding a default; (iv) any default relating to such encumbrance shall be a default of this Lease; (v) such encumbrance shall terminate on or before the Expiration Date and the lienholder must agree 16 to promptly remove such encumbrance when the obligation that it secures has been 16 satisfied;and (vi) Lessor shall have no financial or other obligations to li'enholder except as provided 1"n this Section 10-3. If, while such encumbrance is in effect, Lessee defaults under such encumbrance or this Lease and, if such 11'enholder is iincomplance with the d11 so provisions set forth in this Section 10 and cures Lessee's defaults of this Lease within thirty 'IV (30) days after the first such defau*0 lt, Lessor wi'll permit suc't 11 h 11'enho-Ider T 11 'T to provide a substitute Lessee, which substitute Lessee must be acceptable to Lessor in its sole 6 discretion under the provisions of Section 10.1, so long as such lienholder fully performs this Lease. If such 11'enholder fails to comply with any of the foregoing requirements, such failure shall be a default of this Lease and Lessor may at any time and subject to the terms of Section 12 terminate this Lease and exercise any rights hereunder, t'*ncluding, but not limited to, those set forth at Sections 12 and 6.4. Lessor shall have no obligation to provide any otner notices to any iiennoider, and Lessor snail have no iiabiiiry ot any Kind to any 11"enholder. 10.4 Subleasing and Renting. Upon obtaining Lessor's prior written consent and as otherwise provided in this Section, Lessee shall have the right to sublease or rent portions of the Premises for the storage of Aircraft. Lessor reserves the right to refuse to give such consent if, in Lessor's reasonable business judgment, the proposed renter's or sub -lessee's ,a UJG� UI L11C YI'C1111�CJ WUUlU I'C�UII 111 lI1C t"ICIIIIJC� UC111 UJCU 111 1;U11L1"QVCIIIIUlI Ul LIIG tU1411ti of this Lease. Lessee shall impose on all approved renters and sub -lessees the same terms set forth in this Lease to Provide for the rights and protections afforded to Lessor hereunder. All such rentals and subleases shall be consistent with and subordinate to this Lease as it is amended from time to time. Such rentals and subleases shall include the requirement that LESSEE LESSOR