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MIN <br /> LEASE ill <br /> EVERETT <br /> THIS LEASE (the "Lease") is made as of February 25, 2025 ("Effective Date"), <br /> between the City of Everett as landlord (the "City") and Everett Gospel Mission as the <br /> tenant ("EGM"), and relates to property owned by the City and legally described in the <br /> attached Exhibit A (the "Property"). <br /> RECITALS <br /> A. EGM desires to continue to lease the Property for the Everett Pallet <br /> Shelter Project. The mission of the project is to provide low-barrier shelter for <br /> individuals experiencing homelessness. <br /> B. The City is willing to lease EGM the Property for use for the Everett Pallet <br /> Shelter Project and for control of the Property for the purpose of the Project, all upon <br /> the terms and conditions set forth below. <br /> AGREEMENT <br /> NOW,THEREFORE, in consideration of the covenants,terms and conditions set <br /> forth below, and for good and valuable consideration,the receipt and sufficiency of <br /> which are hereby acknowledged,the parties agree: <br /> Section 1. LEASED PROPERTY. The City leases to EGM, and EGM leases from the <br /> City,the Property. EGM has examined the Property and is in all respects familiar with <br /> the Property and the improvements in the Property. EGM accepts the Property and its <br /> improvements in their"as is" condition. Except for work specifically described in this <br /> Lease,the City has no obligation to construct any improvements on the Property. <br /> Section 2. RENT. So long as the Property is used for the Project (as defined below), <br /> no rent is required for the Property. However, EGM shall be responsible to pay any <br /> Washington State Leasehold Tax that may result due to EGM's use of the Property <br /> pursuant to the Lease. <br /> Section 3. TERM. This Lease shall be effective on the Effective Date and shall expire <br /> on the first anniversary of the Effective Date, unless terminated earlier as set forth in <br /> Section 12 below. <br /> Section 4. AUTHORIZED USE. EGM may only use the Property for the purpose of <br /> the Everett Pallet Shelter Project (the "Project"). EGM shall not use or permit the use of <br /> the Property for any other use without the prior written consent of the City, which may <br /> 1 <br />