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I <br />J.3 Past Due Amounts: <br />3,3.1 Annuul Rental Payments: <br />lfl Lessee fails to pay the annual rent when due under this l,ease, such unpaid <br />amount shall bcar interest at the rate oltwelvc percent (12%) per annum lrom <br />the due date olsLrch amount to thc datc of payment in full, with intercst. <br />3.3.2 Monthly Rental Payments: <br />If Lessce fails to pay the monthly rental payment when due under this Lease, <br />such unpaid amount shall bea' interest at the rate oftwelve percent ( l2%) f-rom <br />thc due date olsuch amount to the date olpayment in full, with interest. <br />3.4 Rental Adjustments: <br />Effbctive this date: Iamary l.2A22.the yearly LEASE rate shall be increased by eight percent <br />(8%) every five years as a set LEASE rate increase, <br />3.5 Leasehold Tax <br />ln addition to any rental herein provided, the LESSEE shall pay to the LF.SSOR the leasehold <br />tax as set forth by thc State of Washington R.C.W, 82.294.030 or as amended. The tax shall <br />be due and payable at the same time the rcntal chargcd hcrein is due and payable. Curently, <br />the Leaschold Tax rate is at twelve-point eighty-four percent (12.84o/o). <br />4. USE: <br />Lessee agrees that it shall use the Premises for the following purposes and for no other <br />purposes: construction, operation and maintenance of an aircraft hangar consistent with <br />Federal Aviation Administration standards, stateand County standards, to include the Kittitas <br />County Airport Minirnum Standards, Airport Master Plan, Bowers Field Rules and <br />Regulations, and Local z.oning. Any object, equipment or vehicle that prevents an aircraft <br />from being storcd in a hangar is not allowed. An "aircraft" shall be any aircraft that LESSEE <br />owns or leases (or that is subject to an authorized subleasc) whcn approved in writing in <br />advance by I.ESSOR, LESSEE shall provide proof of thc ownership or lease of any Aircraft <br />upon LESSOR's rcquest. Thc Aircraft identificd at Exhibit C are the Aircraft approved by <br />LESSOR upon entering this [,EASE, and LESSEE shall provide the same informatiori to <br />LESSOR in writing when requesting approval for any subsequent Aircntft. LESSEE rnay <br />store additional aircraft not owned or leased by I,ESSEE upon approval by thc LESSOR and <br />providing Hangar-Keeper's liability insurance with the County as additional insured as <br />defined in Exhibit F. <br />LEssEEdtr.,3 <br />U^AM <br />LESSOREJ