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EVERETT SCHOOL DISTRICT NO.2 PROPERTY LEASE
<br /> 1. PARTIES. This lease,dated for reference purposes only as of February 1,2008,is made by
<br /> and between Everett School District No.2,a municipal corporation,(herein called"Landlord")and the City
<br /> of Everett,a municipal corporation,(herein called"Tenant").
<br /> 2. PREMISES. Landlord does hereby lease to Tenant and Tenant hereby leases from Landlord
<br /> that certain space (herein called "Premises") designated as and consisting of approximately 58,812 s.f. of
<br /> yard space,2,800 s.f. of office space and 5,250 s.f. of warehouse space as outlined on the site plan attached
<br /> as Exhibit B and on the floor plan attached as Exhibit C. Said Premises are located at 2911 California
<br /> Avenue, in Everett, County of Snohomish, State of Washington, and on the real property legally described
<br /> in Exhibit A (herein called"Property"). Said lease is subject to the terms,covenants and conditions herein
<br /> set forth and Tenant covenants as a material part of the consideration for this lease to keep and perform
<br /> each and all of said terms,covenants and conditions by it to be kept and performed.
<br /> 3.USE. Tenant shall use the Premises for a City of Everett Bus Facility that include office space
<br /> for transit operators,operations supervisors,training coordinators,training supervisors,project coordinators
<br /> and maintenance personnel;training room for operators;warehouse spaceand yard space for City buses and
<br /> paratransit vehicles,bus stop amenities such as poles,shelters,and benches,maintenance equipment and
<br /> supplies,and service vehicles. Tenant shall not use or permit the Premises to be used for any other purpose
<br /> without the prior written consent of Landlord,which consent nay be withheld at Landlord's sole discretion.
<br /> Tenant is solely responsible to determine,and Landlord makes no warranty,that any of Tenant's uses of the
<br /> Premises is in compliance with comprehensive planning,zoning,and other applicable use regulations.
<br /> 4. TERM AND OPTIONS TO EXTEND.
<br /> 4.1 Initial Term. The Lease term commences on February 1, 2008 and, unless cancelled
<br /> earlier by Landlord or otherwise earlier terminated or extended, will terminate at midnight on January 31,
<br /> 2011 ("Term").
<br /> 4.2 Potential Options to Extend. Subject to Landlord's consent (which may be withheld
<br /> following notice from Tenant in Landlord's sole discretion)and execution of a letter agreement confirming
<br /> such consent and any conditions thereof pursuant to that certain "Interlocal Agreement Between Everett
<br /> Public Schools and the City of Everett Regarding the Cooperative Use of Facilities, Equipment, and
<br /> Personnel dated September 7, 1999," Tenant shall have two(2)consecutive options to extend the lease term
<br /> for one(1)year(each, an"Extension Period")upon the same terms,conditions and covenants in this Lease
<br /> so far as applicable, including Additional Rent except for Minimum Rent (which shall be determined
<br /> pursuant to subsection 5.2 below), provided that Tenant notifies Landlord in writing of such extension not
<br /> less than ninety(90) days before the expiration date of original Term or the then-current Extension Period,
<br /> as the case may be. These conditional options are personal to Tenant and may not be exercised by any
<br /> successor or assign of Tenant.
<br /> 4.3 Landlord's Cancellation Option. Except as otherwise provided in Section 23 (Remedies in
<br /> Default), Section 25 (Reconstruction),and Section 26(Eminent Domain),and regardless of whether Tenant
<br /> may have elected to exercise an option to extend the lease term,Landlord may cancel the Lease at any time
<br /> during the initial Term or an Extension Period by giving Tenant 180 calendar days written notice of such
<br /> cancellation provided:
<br /> a. Landlord,at its sole discretion,requires the Premises for its own use;or
<br /> b. Landlord's Board of Directors declares the remainder of the Property to be surplus and
<br /> authorizes and directs the Property to be sold per RCW 28A.335.120 or otherwise disposed of for the
<br /> benefit of Landlord.
<br /> 99999-6028/LEGAL 13867066.1
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