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C-number: C-24-09-006-1

C-number: C-24-09-006-1-00
Item: #20
Revision: 00
Item Text
20. LEASE AGREEMENT WITH BUTTRUM SUNDANCE CROSSINGS, LLC FOR ESTRELLA MOUNTAIN (BUCKEYE) JUSTICE COURT Approve a new triple net lease agreement L-7407 with Buttrum Sundance Crossings, LLC (Lessor) for an 11,462 rentable square foot Estrella Mountain (Buckeye) Justice Court facility at the Sundance Crossing project located at 21765 West Yuma Road in Buckeye as a replacement site for the current court facility at Buckeye Town Hall. The Lessor shall provide the County with 6 months of free rent if the lease agreement is executed prior to June 1, 2009. The term of the lease commences upon beneficial occupancy which is projected on or about November 1, 2009, and expires 60 months after the beneficial occupancy date. The lease agreement provides two five-year renewal options. The annual lease expenses for base rent and operational & maintenance expenses are estimated as follows: Lease Year 1 at $192,617; Lease Year 2 at $295,638; Lease Year 3 at $324,917; Lease Year 4 at $346,497; Lease Year 5 at $365,091. As part of the lease agreement, the Lessor shall provide to the County four reserved parking spaces and fifty-eight unreserved parking spaces for the County use. The County shall reimburse the Lessor for the county’s proportionate share of CAM charges. The one-time cost of tenant improvements will be funded from Justice Courts Special Revenue Fund (245) fund balance in the FY 2009-10 budget. Lease costs will be absorbed within the existing Justice Courts’ operating budget appropriation. (C-24-09-006-1-00)

C-number: C-24-09-006-1-01
Item: #23
Revision: 01
Item Text
23. ADMINISTRATIVE INFORMATIONAL NOTICE Accept the Administrative Informational Notice to Estrella Mountain (Buckeye) Justice Court Lease Agreement No. L-7407 with Buttrum Sundance Crossing for the leased facility located at 21765 W Yuma Road, Buckeye, AZ. The purpose of this notice is to reflect the change in the building's ownership from Buttrum Sundance Crossing to Bank of Oklahoma, N.A. Effective May 13, 2010 all notices required to be given in writing and all rent payments shall be sent to lessor at: Bank of Oklahoma, Attn: Andrea Davenport, Corporate Real Estate Services, PO Box 3462, Tulsa, OK 74101. All other terms and conditions of the current lease agreement remain in full force and effect. As such, this is an informational notice. (C-24-09-006-1-01)

2 item(s) sharing C-number base C-24-09-006-1