Snohomish County PUD 3/30/2022 - Laserfiche WebLink

0/1). PROPERTY LEASE THIS PROPERTY LEASE ("Lease"), dated *0 ZZ , 2022, is between the CITY OF EVERETT, a municipal corporation of the State of Washington ("Lessor"), and PUBLIC UTILITY DISTRICT NO. 1 OF SNOHOMISH COUNTY, a municipal corporation of the State of Washington ("Lessee"). The Lessor and Lessee are also referred to herein individually as "Party" and collectively as "Parties." WHEREAS,Lessor owns certain real property located in Everett,Washington and referred to as Parcel No. 00392100000103 and Parcel No. 28041300201100 ("Property"). WHEREAS, the Lessee has been awarded a grant by the Washington State Department of Commerce (with funding provided by the U.S. Department of Energy) through the Washington Clean Energy Fund—Low Income Community Solar Deployment Program to install, operate and maintain a community solar project("Community Solar Project"). WHEREAS, Lessee desires to lease certain portion of the Property from Lessor for the purpose of installing, operating, and maintaining the Community Solar Project. WHEREAS,Lessor is willing to lease said portion of the Property to Lessee in accordance with terms and conditions of this Lease. For and in consideration of the rent, covenants and agreements hereinafter specified to be paid,kept,and performed by the Lessee,Lessor hereby leases to the Lessee, and the Lessee hereby leases from the Lessor, the premises hereinafter described upon the terms and conditions herein set forth. 1. Description of Premises. The leased premises are located on the Property. The leased premises are legally described on Exhibit"A"and are visually depicted within the pink lines shown on Exhibit"B"("Premises"), attached hereto, and made a part hereof. Lessee has examined the Premises and is in all respects familiar with the Premises and the improvements in the Premises. Lessee accepts the Premises and its improvements in their"as is" condition. Lessee further acknowledges and agrees that: (a)except as specifically provided in this Lease, Lessor has made no representations or warranties to Lessee with respect to the Premises; (b) Lessee is not relying on any representations or warranties by any person regarding the Premises; and(c)Lessor has no obligation under this Lease to construct any improvements to the Premises or the Property. 2. Term of Lease. The term of this Lease shall be for a period of fifteen (15) years, commencing on July 1, 2022 ("Commencement Date") and terminating on June 30, 2037; provided, the term may be extended for an additional five (5) year term by mutual written agreement of the Parties,with such agreement in each of the Parties' sole discretion, and with the mutual written agreement signed by the Mayor of the City of Everett and by an authorized representative of the Lessee. Page 1 of 9