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LEASE <br /> THIS LEASE (the "Lease") is made as of the day of <br /> , 1990, by and between the City of Everett, a <br /> municipal corporation duly formed and existing under the laws of <br /> the State of Washington ("City") and Lumpkin, Inc. , a Washington <br /> corporation ("Lessor") . <br /> WITNESSETH: <br /> WHEREAS, City is the owner of certain unimproved real <br /> property located in the City of Everett and legally described in <br /> Exhibit A attached hereto and by this reference incorporated <br /> herein (the "Land") ; and <br /> WHEREAS, City is authorized by Chapter 35.42 RCW to lease <br /> real property on terms and conditions that require the lessee to <br /> construct thereon certain building(s) and following completion of <br /> construction to lease back the building(s) so constructed; and <br /> WHEREAS, City has heretofore advertised for bids for the <br /> construction of a fire station on the Land (the "Improvements") <br /> which land will be ground leased to the Lessor; and <br /> WHEREAS, following construction of the Improvements, Lessor <br /> shall lease the Leased Premises (as hereinafter defined) to the <br /> City pursuant to Chapter 35. 42 RCW; and <br /> WHEREAS, the Everett City Council has, by Resolution <br /> No. , adopted on , 1990, declared the bid of <br /> Lessor to be the most advantageous to the City and authorized <br /> acceptance of the bid; and <br /> WHEREAS, simultaneously herewith, City and Lessor have ex- <br /> ecuted a construction contract whereby Lessor will cause the <br /> construction of the Improvements on the Land in accordance with <br /> plans and specifications approved by City (the "Construction <br /> Contract") ; and <br /> WHEREAS, Lessor and City have simultaneously herewith <br /> executed a ground lease of the Land pursuant to a Ground Lease of <br /> even date herewith (the "Ground Lease") ; and <br /> WHEREAS, City is authorized under the Constitution and the <br /> laws of the State of Washington to enter into this Lease for the <br /> purposes set forth herein; provided, however, that in no event <br /> shall City be liable for all or any part of the cost of construc- <br /> tion of the Improvements nor shall City be liable for payment of <br /> rent under the Lease unless and until the Improvements have been <br /> B-1 <br />