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CITY <br /> LEASE AGREEMENT <br /> fi& <br /> This Lease is made this day of July, 2017 ,between the City of Everett, a <br /> municipal corporation under the aws of the State of Washington, hereinafter referred to as the <br /> "City or Lessor", and KCAP Holdings Inc corporation,hereinafter referred to as "Lessee". <br /> WITNESS <br /> PREMISES. Lessor does hereby lease to Lessee, and Lessee does hereby lease from <br /> Lessor, a portion of those certain premises commonly known as the Reservoir#3 site located at c <br /> 6107 Berkshire Drive, Everett, Washington 98203. The specific area of approximately 1;$-81100 <br /> square feet that is the subject of this lease agreement is depicted on Exhibit A attached hereto, <br /> (hereinafter called"Premises"). <br /> TERM. The initial term of this lease shall commence on July 1,2017, and end at <br /> midnight June 30,2018. Any tenancy after the initial term shall be on a month to month basis. <br /> Except as otherwise provided in this Agreement, either party may terminate this agreement upon <br /> thirty(30) days written notification. <br /> RENT. Lessee leases said Premises for said period and agrees to pay a monthly rental <br /> in the amount of$26.67 on or before the fifteenth day of each month during the term of this lease <br /> to: <br /> Treasurer <br /> City of Everett <br /> 2930 Wetmore <br /> Everett,WA 98201 <br /> or such other place as the Lessor may from time to time designate in writing. If any rent is, at <br /> any time, five (5) or more days past due, Lessee will be charged a late charge equal to ten (10) <br /> percent of the past due rental amount. All rent payments must be made without deduction or <br /> offset. If lease extends beyond a the initial term, the rent will escalate at a rate of 5%per year <br /> Lessee agrees to pay and the Lessor agrees to collect and pay over to the State Department of <br /> Revenue leasehold excise tax in accordance with the statutes governing same. <br /> USE. Lessee may occupy said Premises and for existing activities discovered as a result <br /> of survey dated 12/30/2016. Lessee agrees that its use of the Premises any occupancy thereof <br /> Lessee shall comply with the laws,rules and regulations of the governments of the United States, <br /> State of Washington, Snohomish County and City of Everett. Lessee agrees to maintain the <br /> Premises in good condition and repair throughout the term of the lease. Upon termination of the <br /> lease, Lessee shall quit and surrender the Premises in as good a state and condition as reasonable <br />