Conduct PHearing_K. Nickerson Lease_Kittitas County Airport

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k 3a3 Past Due Amounts: 3.3.1 Annual Rental Payments: If Lessee fails to pay the annual rent when due under this Lease, such unpaid amount shall bear interest at the rate of twelve percent (12%) per annum from 1% or the due date of such amount to the date of payment in full, with interest. 3a4 Rental Adjustments: Effective this date.: February 1, 2026 the yearly LEASE rate shall be increased by eight percent (8%) every five years as a set LEASE rate increase. In the event a market rate study is Performed by or for the County, rent may be adjusted to the market rate. Regardless of the result of the market study, the rent shall not decrease. If the market rate study was performed more. than five months prior to the rental adjustment date, the market rate will be increased by 1.6% for every year, rounded up to whole years, between the completion of the market study and the rental adjustment date. 3w5 Leasehold Tax: Ishall pay to the LESSOR the leasehold tax as set forth by the State of Washington R.C.W. 82.29A.030 or as amended. The tax shall • LESSOR.. be due and payable at the same time the rental charged herein i the Leasehold Tax rate is at twelve-point eighty-four percent 4. USE* s due and payable. Currently, (12484%)o �,essee agrees tha# j"t sna,il use t le Yremise"4.*"3 for ine f0tiowing purposes and for no other purposes: construction, operation,, and maintenance of an aircraft hangar consistent with Federal Aviation Administration standards, state and County standards, to include the Kl*ttiotas County Ai'rport Minimum Standards, Airport Master Plan, Bowers Field Rules and Regulations, and Local zoning. Any object, equipment or vehicle that prevents an aircraft from being stored i*n a hangar is not allowed. An " aircraft " shall be any aircraft that LESSEE owns or leases (or that is subject to an authorized sublease) when approved in writing in A _. L_.Y r.r�,r�� r r.rrr.r. i_..ti _.:aa r�f �.. __ �,._;,_i�z:,. f �c;.�..�n L1�1Va�f�ivG'v� LL' �3<J.�. LL'.�7.Si:;_. J1Ii21i �.ii1'viii�. �.SIISVf Ji liiv li:�i[Gl$IL�i vi ivu.�G Va i�Ii�j � ViLvi�lii, upon LESSOR'S request. The Aircraft identified at Exhi'bl't C are the Aircraft approved by LESSOR upon entering this LEASE, and LESSEE shall provide the same information to LESSOR in writing when requesting approval for any subsequent Aircraft. LESSEE may store additional aircraft not owned or leased by LESSEE upon approval by the LESSOR and providing Hangar -Keeper's liability insurance with the County as additional insured as defined I'*n Exh,1*b1'*t F. LESSEE 4()6. 3 nadditiontoanyrentalhereinprovided,theL�;SS�:�