Pivotal Point LLLP/Everett Housing Authority 7/7/2025

PROPERTY LEASE AGREEMENT BETWEEN PIVOTAL POINT LLLP AND CITY OF EVERETT FOR EVERETT POLICE OFFICE AT PIVITAL POINT APARTMENTS 1. PARTIES.This Property Lease Agreement (the "Lease"), dated for reference purposes only as of September 1, 2024, is made by and between Pivotal Point LLLP, a Washington limited liability limited partnership (herein called "Landlord"), and the City of Everett, a municipal corporation of Washington State, (herein called "Tenant"). 2. PREMISES. Landlord does hereby lease to Tenant and Tenant hereby leases from Landlord that certain space (herein called "Premises") designated as and consisting of approximately 492 sq.ft. of office space within Building B of the Pivotal Point Apartment Complex as outlined on the site plan attached as Exhibit B. Said Premises is located at 1130 Rainer Avenue, in Everett, County of Snohomish, State of Washington,and on the real property legally described in Exhibit A(herein called "Property"). Said lease is subject to the terms, covenants and conditions herein set forth and Tenant covenants as a material part of the consideration for this lease to keep and perform each and all of said terms, covenants and conditions. 3. USE.Tenant shall use the Premises for a City of Everett Police satellite office and operations facility.Tenant's use shall also include two parking spaces located on the Property adjacent to and within close proximity of the Premises.Tenant is solely responsible to determine, and Landlord makes no warranty,that any of Tenant's use of the Premises is in compliance with comprehensive planning, zoning, and other applicable use regulations. 4.TERM AND CANCELLATION. 4.1 Initial Term.The initial term of this Lease shall be for ten (10)years commencing on September 1, 2024, and, unless cancelled earlier by Landlord or Tenant or otherwise extended, will terminate at midnight on August 31, 2034 ("Term").