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1. APPROVE A PURCHASE AGREEMENT WITH BCRP GRACE COURT, LLC. FOR THE PURCHASE OF GRACE COURT I, GRACE COURT III AND THE RIGHTS TO 377 PARKING SPACES AT THE GRACE COURT PROJECT Approve a Purchase Agreement with BCRP Grace Court, LLC., a Delaware limited liability company (Seller), for the purchase of Grace Court I, Grace Court III and the rights to 377 parking spaces at the Grace Court Project at 7th Avenue and Adams in Phoenix for a purchase price of twenty million four hundred fifty thousand two hundred twenty-five dollars ($20,450,225), plus closing costs; and authorize the Chairman to execute all documents, covenants, common area agreements, and maintenance agreements associated with the subject purchase; and authorize staff to complete due diligence and complete closing requirements for the subject purchase at a cost not to exceed $350,000. The subject Purchase Agreement includes an earnest money deposit of five hundred thousand dollars ($500,000) to be applied toward the purchase price at closing. In addition to the purchase price, the county will be responsible for its share of closing costs, various due diligence costs and transfer of ownership expenses at a total cost not to exceed $350,000. Maricopa County has a sixty (60) day maximum due diligence period during which time any earnest money deposited into escrow is refundable to the county in the event the county cancels the purchase through proper notice. Upon expiration of the due diligence period, the earnest money is non-refundable. Close of escrow occurs 30-days from the end of the contingency period unless extended as provided for in the agreement. The property being purchased is situated on the Grace Court Project site at the northwest corner of Adams and 7th Avenue in Phoenix and consists of Grace Court I, a one two-story 31,842 square feet historic building and Grace Court III, a four-story 98,662 square feet new office building. In addition to Grace Court I and Grace Court III, the purchase contract transfers the ownership rights and responsibilities for 377 parking spaces at the Grace Court Project site. As part of the Purchase Agreement, the County and Seller will negotiate and execute amended CC&R’s pertaining to parking and access at the Grace Court Project site. (C-18-10-048-3-00)

Vote: approved

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2. TERMINATION OF PURCHASE AND SALE AGREEMENT WITH BCRP GRACE COURT, LLC. Authorize termination of the Purchase and Sale Agreement, approved April 21, 2010 (C-18-10-048-3-00), with BCRP Grace Court, LLC., a Delaware limited liability company (Seller) for the purchase of Grace Court l, Grace Court lll and the rights to 377 parking spaces at the Grace Court Project at 7th Avenue and Adams in Phoenix, pursuant to section 8 (a) of the Purchase and Sale Agreement, and authorize the Chairman of the Board to execute the necessary documents, approved by legal counsel, to terminate the Purchase and Sale Agreement. Pursuant to section 8 (a) of the Purchase and Sale Agreement with BCRP Grace Court, LLC., a Delaware limited liability company (Seller) approved on April 21, 2010 (C-18-10-048-3-00), the County may terminate this agreement within 60 days(Contingency Period) from the opening of escrow. All earnest money will be returned to the County. This action will authorize the termination the Purchase and Sale Agreement and will authorize the Chairman to execute the necessary documents, approved by legal counsel, to terminate the Purchase and Sale Agreement. (C-18-10-057-M-00)