Notarized Memorandum 9.16.25.pdf

When Recorded Return To.

City of Buckeye

530 East Monroe Avenue

Buckeye, Arizona 85326

Attn: Douglas Sandstrom, City Manager

MEMORANDUM OF LEASE

(Exempt from affidavit of value and transfer fee requirements,
pursuant to A.R.S. Section 11-1134(A)(2))

THIS MEMORANDUM OF LEASE is entered into effective October 1, 2025, by
and between the CITY OF BUCKEYE, ARIZONA, an Arizona municipal corporation
("City"), as landlord, and JOSE CORREA and CAROLINA CORREA, husband and wife
(collectively, "Tenant"), for the purposes of recording that the City and Tenant have
executed a Shopping Center Retail Shop Lease dated October 1, 2025 (the "Lease"), an
executed copy of which is in the possession of each party and to provide notice pursuant
to Arizona Revised Statutes ("A.R.S.") that the Lease is a government property
improvement lease and certain terms thereof as set forth below. The Premises described
below are leased from Lessor to Lessee pursuant to the Lease, but this Memorandum
of Lease is not intended to, and shall not, modify, amend, supersede or otherwise affect
the terms and provisions of said Lease. Capitalized terms used in this Memorandum of
Lease which are not defined herein shall have the meanings ascribed to them in the
Lease.

1. Name of Document: Shopping Center Retail Shop Lease. The
Lease meets the conditions provided in
A.R.S. Section 42-6203(A) and is subject to
payment of the GPLET tax at the rates set
forth in A.R S. Section 42-6203.

2. Name of Landlord: CITY OF BUCKEYE, ARIZONA, an
Arizona municipal corporation.

3. Name of Tenant: JOSE CORREA and CAROLINA CORREA,
husband and wife.

4. Address of Landlord: City of Buckeye
530 East Monroe Avenue
Buckeye, Arizona 85326
Attn: Dan Cotterman, City Manager

5. Address of Tenant: Jose Correa and Carolina Correa

23863 West Pecan Circle
Buckeye, Arizona 85326

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6. Date of Lease’ October 1, 2025
("Effective Date")

7. Government

Property

Lease Excise Tax In accordance with AR S. Section 42-6206:
(1) notice is hereby given to Tenant of its
government lease excise tax _ liability
pursuant to A.RS. Sections 42-6201, et
seq.; and (2) failure by Tenant, after notice
and an opportunity to cure, to pay the tax
imposed by AR.S_ Sections 42-6201, et
seq is an event of default that could result in
divesting Tenant of any interest in or right of
occupancy of the government property
improvements that are the subject of the
Lease.

8. Term: One (1) year, commencing on October 1,
2025 and ending at midnight on September
30, 2026, unless this Lease is sooner
terminated as provided therein No option to
renew.

9. Premises’ Suite 104, Sundance Crossings, located at
the Southwest corner of Dean and Yuma
Roads, Buckeye, Maricopa County, Arizona
85326.

10. Rent: Tenant shall pay to Landlord rents and other
amounts, as more particularly set forth in the
Lease

11. Incorporation. All of the covenants, conditions, defined
terms and provisions of the Lease are, by this
reference to the Lease, incorporated herein
and made a part hereof, the same as though
expressly set forth herein. If a conflict arises
between the provisions of this Memorandum
of Lease and the provisions of the Lease, the
provisions of the Lease shall prevail.

A copy of the Lease is on file with Landlord and Tenant at their respective addresses
set forth above.

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LANDLORD:

CITY OF BUCKEYE, ARIZONA, an
Arizona municipal corporation

Douglas Sandstrom, City Manager

STATE OF ARIZONA +)
)ss
COUNTY OF MARICOPA )

The foregoing was acknowledged before me this day of , 2025, by
the of the CITY OF BUCKEYE, ARIZONA, an Arizona municipal corporation, on behalf of the
City.

Notary Public

My commission expires

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TENANT: /, fo-

t Correa
arol aAesy (, Tren

Carolina Correa

STATE OF Anzac )
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COUNTY or Memnerpu)

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The foregoing instrument was acknowledged before me this LL" day of BePlemne

2025 by Jose Correra and Carolina Correa

Notary Public

My commission expires: wer AVC h U, A \2-7

"A CO
‘Ommission # eagisy

Expirea Match 4, 2027

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