Hydrololgy Stand Up Paddle 5/5/2021

LICENSE TO USE CITY PROPERTY Grantor: City of Everett (hereinafter referred to "City") Grantee: HYDROLOGY STAND UP PADDLE Property: The Silver Lake beach and guard shack at Thornton A. Sullivan Park, (hereinafter called "Premises" or the "property"), being situated at the following location in Everett, Washington: Thornton A. Sullivan Park 11405 Silver Lake Dr Everett, WA 98208 1. AUTHORIZED USE. HYDROLOGY STAND UP PADDLE shall use the Premises for conducting concession operations open to the public from May 15 to September 15 of each year this License is in effect. This License does not allow use of the Premises outside of the May 15 to September 15 time period. HYDROLOGY STAND UP PADDLE may only use the Premises for the purpose of conducting paddleboard and kayak lessons, rentals and classes. HYDROLOGY STAND UP PADDLE's use of the Premises is not exclusive. 2. TERM. The term of this License is from May 15, 2021 to May 14, 2022. Additionally, the parties may choose to extend the term of this License by four (4) — one-year extension terms. If the parties so agree, each extension term will be formalized in an amendment to this Agreement. 3. FEE. HYDROLOGY STAND UP PADDLE shall pay the City a monthly rental payment of$360 (three hundred-sixty dollars) for the months of June, July, and August and a pro-rated amount of$180 (one hundred-eighty dollars) for the partial months of May and September. Payment is due by the first day of each such month. The license is subject to leasehold tax. Leasehold tax must be paid in addition to the rental fee. Additionally, the rental payments for each one- year extension will be increased by the published percentage change in the Consumer Price Index (CPI-U) for the Seattle-Tacoma-Bellevue area for February of the contract year. For example: • Contract Renewal 2022 will use February 2022 CPI Percentage Change from the year ending 11Page