2022 Airport Building Lease - Kittitas County Airport Management Draft (4)

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LEASE AGREEMENT EBDA Business Park Building at Bowers Field, Ellensburg THIS LEASE is made at Ellensburg, Washington, this ____ day of June, 2022, by and between the Ellensburg Business Development Authority (dba CenterFuse), a public development authority and hereinafter referred to as Landlord, and the Kittitas County Regional Airport- Bowers Field, hereinafter referred to as Tenant. WITNESSES THAT: In consideration of the mutual promises, covenants, conditions, and terms to be kept and performed, it is agreed between the parties hereto as follows: 1. SUMMARY. a. Leased Premises. Landlord leases to Tenant and Tenant leases from Landlord certain commercial real estate consisting of approximately one thousand eight hundred twenty-seven (1,827) square feet located at 3110 N. Airport, Ellensburg WA, Unit #2 (the “Premises”). The Premises do not include, and Landlord reserves, the exterior walls, the roof, or the pipes and ducts, conduits, wires, fixtures and equipment above the suspended ceiling or the land beneath or the structural elements of the building in which the Premises are located (the “Building”). The Building, the land upon which is it situated, all other improvements located on such land and all common areas appurtenant to the Building are referred to herein as the “Property.” b. Initial Term. The lease shall commence on July 1, 2022 (“Commencement Date”), or on such date as may be specified by written notice given by Landlord to Tenant advising Tenant that the Premises are ready for possession and specifying the Commencement Date. The term of this lease is not to exceed ten (10) months. c. Extension of Term. Not applicable. d. Base Rent. Tenant shall pay to Landlord as Rent due on the first day of each month the monthly sum according to the following: Start July 1, 2022 Start January 1, 2023 End December 31, 2022 End April 30, 2023 1,827 sf x $0.65/SF = $1,187.55 $$/SF 1,827 sf x $0.70/SF = $1,278.90 e. Due Date and Late Charge. Rent is due and payable on the first day of each month beginning on the Commencement Date and continuing through the lease term or any renewal or extension thereof. In the event Tenant fails to pay any installment of Rent or any other sum due on or before the tenth (10th) day of the month for which it is due, Tenant shall pay to Landlord a penalty of ten percent (10%) of the amount due per month.