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SHOPPING CENTER RETAIL SHOP LEASE
BETWEEN
CITY OF BUCKEYE
AND
JOSE CORREA and CAROLINA CORREA, D/B/A K AND K BARBERSHOP
This Shopping Center Retail Shop Lease (“1-year Lease”) made by and between the CITY OF
BUCKEYE, ARIZONA, an Arizona municipal corporation (the “Landlord”), and JOSE
CORREA and CAROLINA CORREA, doing business as K AND K BARBERSHOP (the
“Tenant”) (collectively, “Parties”) is entered into and effective at midnight (12:00 a.m.) on the
1° day of October, 2025 (“Effective Date”).
RECITALS
WHEREAS, effective October 1, 2013, Landlord and Tenant entered into that certain
Shopping Center Retail Shop Lease (“Original Lease”), relating to the lease of premises located
at Sundance Crossings, Suite 104, 21765 W Yuma Road, Buckeye, Arizona, and depicted in
Exhibit A attached hereto, for use as a barber shop, doing business as K and K Barbershop; and
WHEREAS, Article Ill, “Term”, of the Original Lease authorized Tenant an option to
renew for a one (1) five-year period subject to certain terms and conditions; and
WHEREAS, Tenant exercised the option to renew, and the parties entered into that certain
Lease Extension Agreement effective June 1, 2018 (also, “Lease Extension Agreement”), for a
five-year period, through September 30, 2023; and
WHEREAS, subsequently, the Parties entered into 2-year Lease Agreement effective
October 1, 2023, and expiring September 30, 2025 (‘2-year Lease Agreement”); and
WHEREAS, Landlord and Tenant now desire to enter into a one-year lease agreement to
(i) incorporate by reference the terms of their prior written agreements with respect to the subject
matter thereof, subject to certain modifications, and (ii) to address compensation and reflect current
market conditions.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated
herein by reference, the following mutual covenants and conditions, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant
do hereby agree:
L Incorporation of Agreement _and First Amendment _by reference. Subject to the
modifications set forth in this 1-year Lease, the (i) Original Lease, (ii) Lease Extension
Agreement, and (iii) 2-year Lease Agreement are by reference incorporated herein.
Page 1 of 3
IL.
Il.
IV.
VI.
Vil.
Term of Agreement, This 1-year Lease shall be effective from and including October 1,
2025, and shall remain in full force and effect until and through September 30, 2026, unless
it is terminated sooner.
Minimum Annual Rent. The Minimum Annual Rent 1s as follows:
Dates Per Square Foot Monthly Annually
(1,168 sq. ft.)
Year 1 | Months 1-12 | $17.64 $1,716.96 $20,603.52
TOTAL: $20,603.52
No Renewal. Notwithstanding any provision to the contrary contained in the Original
Lease or in the Lease Extension Agreement, this 1-year Lease is non-renewable. There is
and shall be no option to renew.
Tenant’s Insurance Obligation and Policy Requirements. Tenant’s certificate of
insurance coverage shall name the City of Buckeye as an additional insured. The certificate
of insurance coverage shall accompany this 1-year Lease. Tenant’s insurance obligation
and policy requirements shall comply with the requirements set forth in Sections 7.3 and
7.4 of the Original Lease.
Modification. None of the terms, covenants, conditions or provisions hereof can be
modified, deleted or added to except by written amendment signed by the parties
hereto.
Effect. All other terms and conditions of the Original Lease, the Lease Extension
Agreement, and the 2-year Lease Agreement are affirmed and remain in full force and
effect,
IN WITNESS WHEREOEF, the parties have executed this 1-year Lease as of the Effective
Date above.
TENANT/LESSEE:
Ab 69-63 -2
Douglas Sandstrom Today’s Date ia Correa Today’s Date
LANDLORD/LESSOR: '
|
d
i
City Manager (
arwing Coney 09-03-25
|
i
|
CITY OF BUCKEYE,
an Arizona Municipal corporation
Carolina Correa Today’s Date
Page 2 of 3
po ep en ee ey
|
ATTEST:
Lucinda J. Aja,
City Clerk H
APPROVED AS TO FORM:
K. Scott McCoy
City Attorney |
Page 3 of 3
Sundance Crossings
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SUNDANCE CROSSING
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SUITE C=104
BUCKEYE, ARIZONA
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