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Guide Property Management LLC 1500 Westlake Ave N • Suite 212 • Seattle, WA 98109 (206) 737-8171 5 Buy Out Agreement 5.1 ADDENDUM This Addendum ("Addendum") is made part of the Residential Lease Contract ("Agreement") dated 09/01/2024 , and is between the Owner of 600 Ninth ("Owner") and City of Everett , (collectively and individually "Residents"), for the premises at 600 9th Ave - 401 Seattle, WA 98104 (the "Leased Premises"), which is located within 600 Ninth (the "Residential Community"). All capitalized terms used but not defined herein shall have the meaning set forth in the Agreement. Where the terms and conditions of this Addendum vary or conflict with the terms and conditions of the Agreement, the terms and conditions of this Addendum shall control. 5.2 PURPOSE OF BUY-OUT AGREEMENT The purpose of this Buy-Out Agreement is to give you the right to buy out of your Lease Contract early—subject to any special provisions in paragraph 9 below. In order to buy out early, your notice must be signed by all residents listed in paragraph 1 of the Lease Contract and you must comply with all provisions of this Buy-Out Agreement. 5.3 BUY-OUT PROCEDURES You may buy out of the Lease Contract prior to the end of the lease term and cut off all liability for paying rent for the remainder of the lease term if all of the following occur: 1.you give us written notice of buy-out at least 20 days prior to the new termination date (i.e. your new move-out date) which must be last day of a month; 2.you specify the new termination date in the notice, i.e., the date by which you’ll move out; 3.you are not in default under the Lease Agreement on the date you give us the notice of buy-out; 4.you are not in default under the Lease Contract on the new termination date (move-out date); 5.you move out on or before the new termination date and do not hold over; 6.you pay us a buy-out fee (consideration) equal to two and a half (2.5x) month’s rent; 7.you pay us the amount of any concessions you received when signing the lease Contract on the date that you give notice to buy out; 8.you are current in the payment of the rent and all other amounts owing under the lease through the terminating date; 9.you comply with any special provisions in paragraph 8 below 10.if you choose to exercise the buy-out provision, and the unit re-rented at any time, you understand and agree that you are not eligible for, nor will receive any refund of any portion of the buy-out fee. 5.4 WHEN PAYABLE The buy-out fee in paragraph 1.3(6) is due and payable no later than ten (10)days after you give us your buy-out notice. The total dollar amount of any concessions regarding rent or other monetary lease obligations for the entire lease term is due payable on the same day as the buy-out fee, subject to any special provisions regarding the amount, calculation method, or payment date. 5.5 SHOWING UNIT TO PROSPECTIVE RESIDENTS After you give us notice of buy-out, the Lease Contract gives us the right to begin showing your unit to prospective residents and telling them it will be available immediately after your new termination date. 5.6 COMPLIANCE ESSENTIAL Our deposit of all amounts due under paragraphs 1.3(6) and 1.3(7) constitutes our approval of the new termination date stated in your notice of buy-out. If you fail to comply with any of the procedures or requirements in this agreement after we deposit such monies, your buy-out right and this agreement will be voided automatically; and (1) any amounts you have paid under this agreement will become part of your security deposit, and (2) the lease will continue without buy-out. Then, if you move out early, you are subject to all lease remedies, including reletting fees and liability for all rents for the remainder of the original lease term. By signing below, you acknowledge and agree to the terms in Section 5. City of EverettLessee Date Signed X 17 02/24/2025