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:. <br />� <br />I,�ASE A( <br />Poal-It'" brend Isx transmitl2l memo 7671 � poi pnyea . <br />�, <br />,5 �fs-7{31 <br />7'HIS LEASE, made this lst day of llecember, 1990, by and . <br />between TEI2RY SHIHATA and AODTE °}{IBATA, his wife, and surviving <br />heirs, hereinafter referred to as "Lessors", and "PUGET CONSUMERS' <br />CO-UP, hereinafter referred to ae "Lessee", nets for.tll� <br />I <br />The real estate and otore building hereir� leased is situated <br />I�at 9i21 Evergreen Way, Everett, 5nohomish County, N�aehington, <br />�containing approximately 15,000 equare feet of Sloor space. It is <br />part of the property known as Anderson'e Shopping Center and a <br />portion of the propert.y trac�t descrihe <br />The Southwesterly 100 feet of Lot 12, � <br />Bcverly GaY•den Tracts, Division #1, and <br />a uortion of Lot 11, Beverly Garden Tracte <br />Division #1. _ <br />and i;he right to use the parking area in Anderson's Shopping Centei <br />II <br />The term of this lease, co�nmencing December 1, 1990, is for <br />five (5) yeare, ending November 30, �ggs, I,essee shall have the <br />option to extend the term of this Zeaee upon the same terms and <br />conditions as those herein specified for three (j) additional <br />r�+eriods of five (s) years, from the end of the initial term hereo£, <br />ending November 3U, 2000, November 30, 2005, and November 30, 2010, <br />except that the rental price of �tte extended i;erms shall be renego- <br />tiated and inutually agreed on, and not to exceed 10� of the previou <br />£ive (5) year rental price, Leseee shall give Les�ors written <br />notice of their exercise of Faid option at leasi; six (6) monthe <br />before the end of each term. Tf the partiea fail to agree upon <br />the :•ental within thirty (30) days after receipt oi Lessee's <br />notice electing to exi;end lease, the qaestion of renLale sha11 be <br />re#'erred for arbitration by three arbitrators, one to be appointed <br />by each party and the third to be ctioeen by the first tvio. The <br />decision oP a majority of these arbitrai;ors ohall be final and <br />binding, � <br />III <br />The moti�;�1y rental for the term of this lease, begiruzing <br />December 1, 1990 and ending November �0, 1995� sha11 be THIRTY-FI <br />HUNDRED DOLLARS ($3,500.00). Legsee shall pay Lessors the fixed <br />morithly rental on the firsi; day of each and every month o�' the <br />lease �term in advance, _ _ _ _ . _ _. . _ . _ - • <br />