Vote — approved

Max Wilson

yes

7.PURCHASE AGREEMENT WITH 210 EARLL L.L.C.Approve a Purchase Agreement with 210 EARLL L.L.C., an Arizona limited liability company (Seller), or its successor/assignee, for the purchase of the Earll Drive property at 210 E. Earll Drive in Phoenix for $12,500,000 plus closing costs and authorize the Chairman to execute all documents, assignments, assumptions, covenants, and agreements associated with the subject purchase; and authorize staff to complete due diligence and complete closing requireme

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7. PURCHASE AGREEMENT WITH 210 EARLL L.L.C. Approve a Purchase Agreement with 210 EARLL L.L.C., an Arizona limited liability company (Seller), or its successor/assignee, for the purchase of the Earll Drive property at 210 E. Earll Drive in Phoenix for $12,500,000 plus closing costs and authorize the Chairman to execute all documents, assignments, assumptions, covenants, and 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 $250,000. The subject Purchase Agreement includes an earnest money deposit of Five Hundred Thousand Dollars ($500,000.00) to be applied toward the purchase price of $12,500,000.00 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 $250,000.00. Maricopa County will have 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 within 30-days from the end of the contingency period unless extended as provided for in the agreement. The property being purchased is situated at 210 E. Earll Drive in Phoenix and consists of approximately 3 acres of land; a six-story office building of approximately 158,249 gross square feet; and an adjacent parking garage with approximately 655 parking spaces. (C-18-10-058-3-00)

Vote — approved

Max Wilson

yes

3.APPROPRIATION OF JAIL ENHANCEMENT FUNDS FOR SHERIFF'S OFFICEEstablish FY 2011 Sheriff (500) Sheriff Jail Enhancement Fund (214) Operating (0000) revenue and expenditure appropriations of $1,102,500. Jail Enhancement revenue is not local revenue for the purpose of the constitutional expenditure limitation, and therefore expenditure of this revenue is not prohibited by budget law. This budget adjustment does not alter the budget constraining the expenditure of local revenues duly adopted by the 

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3 . CONSIDERATION OF PURCHASE AND SALE AGREEMENT WITH 210 EARLL L.L.C. Consideration of Purchase and Sale Agreement, approved June 23, 2010 (C-18-10-058-3-00), with 210 EARLL, L.L.C., an Arizona limited liability company regarding Earll Property at 210 E. Earll Drive in Phoenix. Provide appropriate notice in accordance with Section 8 (a) of the Purchase and Sale Agreement. Per Section 7 of the subject Purchase and Sale Agreement (PSA), the County, as Buyer, has deposited a refundable $500,000 in Earnest Money with the Escrow Agent. Per Section 8(a) of the PSA, the County has a sixty (60) day Contingency Period to investigate the feasibility of Buyer’s intended purchase of the Earll Property. The Contingency Period ends September 13, 2010, after which time the Earnest Money becomes non-refundable. Per Section 8(a) of the PSA, the County is to give notice on, or before, the expiration of the Contingency Period as to either the County’s termination of the PSA, or the County’s approval to proceed with the subject purchase. (C-18-10-058-3-01)