ADMIN CORRECTION LEASE L-7494 RE RAILROAD PROPERITES LLC.PDF

LEASE No. L-7494 Amendment No. 1
C-21-20-008-1-01
AMENDMENT NO. 1 TO LEASE AGREEMENT
BETWEEN
RAILROAD PROPERTIES, LLC.
AND
MARICOPA COUNTY
RECITALS
A. Maricopa County, a political subdivision of the state of Arizona (“Lessee”), and Railroad Properties, LLC.,
an Arizona limited liability company (“Lessor”), are parties to that certain Lease Agreement No. L-7494
dated June 6, 2020 (“Agreement”). The Agreement is for premises located at 420 S. 3rd Avenue,
Phoenix, AZ, (“Property”) consisting of approximately 3,600 rentable square feet (“RSF”) of office space
(“Premises”).
B. The term of the Agreement expires on July 31, 2021.
C. Lessee and Lessor now mutually desire to enter into this Amendment No. 1 (“Amendment”) to amend the
Agreement to extend the term and to allow for Lessee right of first option in the event Lessor sells property.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, receipt
and sufficiency of which is hereby acknowledged, Lessee and Lessor agree to amend the Agreement as
follows:
1. The Recitals, by this reference, are hereby incorporated into this Amendment.
2. Capitalized terms used in this Amendment without definition shall have the meanings assigned to such
terms in the Agreement, unless the context expressly requires otherwise.
3. The term of the Agreement is hereby extended for one (1) year, commencing August 1, 2021 through July
31, 2022, unless terminated earlier as provided for in the Agreement. This Agreement, as amended, is
subject to termination pursuant to A.R.S. §38-511, the provisions of which are incorporated herein by this
reference. This Agreement may be terminated by Lessee at the end of any fiscal year due to non-
appropriation of funds without any penalty or liability to Lessee. County and state fiscal years end June 30,
Federal fiscal year ends September 30.
4. Lessee agrees to pay as rent, in equal monthly installments, the sums as follows:
Lease Term Rate Monthly
Months 1-12 $21.00/RSF $6,300 plus rental tax
5. Provided Lessee is not in default of the Agreement, Lessee shall have a Right of First Option (“ROFO”) to
purchase the Property. In the event the Lessor desires to sell the Property, Lessor shall provide first official
notice to Lessee of its intent to sell the Property, along with proposed price and terms. Lessee shall have
thirty (30) days to respond with their acceptance, counteroffer or rejection of proposed terms. Lessor and
Lessee shall diligently proceed to consummate a sale transaction.
6. The foregoing paragraphs contain all the changes made by this Amendment. All other terms and conditions
of the Agreement remain the same and in full force and effect, except as herein amended.

LEASE No. L-7494 Amendment No. 1
C-21-20-008-1-01
IN WITNESS WHEREOF, the Parties have fully executed this Amendment as of the last date written below.
LESSOR: LESSEE:
Railroad Properties, LLC Maricopa County
c/o Heiland Family, LLP
By: ___________________________________ _______________________________________
Gregory Heiland, Manager Jack Sellers
Chairman, Board of Supervisors
___________________________________ ATTEST:
Date
_______________________________________
Clerk of the Board Date
APPROVED AS TO FORM:
_______________________________________
Deputy County Attorney Date