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lial <br /> STANDARD LEASE EVERETT <br /> This Lease is made as of the date of last signature below, between the City of Everett, a <br /> Washington municipal corporation ("Landlord"), and Everett Rowing Association, a Washington <br /> Nonprofit Corporation ("Tenant"). <br /> 1. BASIC LEASE PROVISIONS. The following definitions and provisions apply and are <br /> part of this Lease: <br /> Base Rent $786.29 per month + 3% increase each Lease year, as follows: <br /> Dates Monthly Rent <br /> January 1, 2024-December 31, $786.29 <br /> 2024 <br /> January 1, 2025-December 31, $809.88 <br /> 2025 <br /> January 1, 2026-December 31, $834.18 <br /> 2026 <br /> January 1, 2027-December 31, $859.20 <br /> 2027 <br /> January 1, 2028-December 31, $884.98 <br /> 2028 <br /> Security Deposit $0 (if"0" or left blank,then there is no security deposit) <br /> Building The two buildings (a shell house building and a storage building) located at <br /> 300 Smith Island Rd., in Everett,Washington, in which the Leased Premises <br /> is located. <br /> The legal description of real property on which the buildings are located is <br /> attached as Exhibit A. If the parties determine that a drawing of the Leased <br /> Premises is necessary, it will also be included as part of Exhibit A. <br /> In this Lease,the two buildings are collectively referred to as the "Building." <br /> Leased Premises The interior space of the Building containing approximately 7,050 rentable <br /> square feet: <br /> Shell House: 5,800 <br /> Storage building: 1,250 <br /> Term 60 months: (5) years, from January 1, 2024 to December 31, 2028. <br /> Extension Term The terms and conditions of Extension Term(s), if any, are provided in <br /> Exhibit B. If there is no Exhibit B,then there are no Extension Term(s). <br /> Approved Use General office use only. <br />