AMENDMENT TO LEASE AGREEMENT RE FREANEL & SON GILBERT LLC.PDF

LEASE NO L-7329 AMENDMENT NO. 5
C-22-03-111-4-06
AMENDMENT No. 5 TO LEASE AGREEMENT
BETWEEN
FREANEL & SON GILBERT, LLC, LESSOR
AND
MARICOPA COUNTY, LESSEE
RECITALS
A. Lessor and Lessee are parties to that certain Lease Agreement No. L-7329 dated
December 18, 2002, and as amended by Amendment No. 1 dated April 20, 2005, and as
amended by Amendment No. 2 dated May 6, 2014 and as amended by Amendment No. 3
dated March 27, 2015 and as amended by Amendment No. 4 dated; together the
“Agreement”. The Agreement is for premises at 735 N. Gilbert Road, Suites 134, 136,
138 and 140, Gilbert, AZ, consisting of 23,500 square feet of rentable area.
B. The term of the Agreement expires on June 30, 2021.
C. Lessor and Lessee now mutually desire to amend the Agreement to extend the term of the
Agreement, adjust the annual rent schedule, modify the required notice for early
termination of the Agreement and holdover provisions.
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 accuracy of the foregoing Recitals is acknowledged and the Recitals are hereby
incorporated into this Agreement.
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 extended one (1) year to commence July 1, 2021 and expire
June 30, 2022. This Agreement as amended is subject to termination pursuant to the
provisions of 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 penalty of liability to Lessee. County and state
fiscal years end June 30th, federal fiscal year ends September 30th. Lessor and/or any of
its employees, agents, officers, directors, members, successors or assigns hereby waives
any and all rights to bring any claim against Lessee or its employees, agents, officers,
directors, members, successors or assigns from or relating in any way to Lessee’s
termination of this Agreement pursuant to this Section 3.

LEASE NO L-7329 AMENDMENT NO. 5
C-22-03-111-4-06
4. Lessee agrees to pay as rent, in equal monthly installments, the sums as follows:
Period Rate Monthly Annual
7/1/2021 to 6/30/2022 $13.59 per sf $26,605.33 $319,263.95
Lessee agrees to pay all NNN charges on a monthly basis, which are approximately $3.38
per square foot annually.
5. Section 17 of the Agreement is hereby amended to delete in their entirety and replace
fifth and sixth sentences of the paragraph with the following
In the event of expiration of this Lease without renewal, Lessee shall have the right to
holdover at a rate of 103% of the base rent on a month-to-month basis for up to four (4)
months. After the initial four (4) months, any holdover shall be at 125%. Either party
shall give a minimum of 30 days’ notice to terminate during the holdover period.
6. Section 19 of Agreement is hereby amended to delete in its entirety and replace the third
sentence of the paragraph with the following:
Notwithstanding the foregoing, at any time after January 1, 2022, Lessee may terminate
the Agreement upon at least ninety (90) days’ prior written notice to Lessor.
7. Lessor and Lessee hereby represent and warrant to the other Party that it has not retained
or dealt with any broker with respect to this transaction other than Avison Young –
Arizona, LTD, on behalf of Lessor, and Jones Lang LaSalle, on behalf of Lessee
(collectively, “Brokers”), and that they know of no other real estate broker or agent who
is entitled to a commission in connection with this Agreement. Lessor shall be
responsible for payment of leasing commissions per written agreement with Avison
Young – Arizona, LTD. Lessor and Lessee each agree to indemnify, protect and hold the
other harmless for, from and against any costs, losses, damages and expenses, including
costs and expenses reasonably incurred with respect thereto, incurred by the other which
arise directly or indirectly out of the breach of such representation and warranty by the
indemnifying party. The terms of this Section shall survive the expiration or earlier
termination of the Agreement.
8. Administration of Agreement. The Assistant County Manager for Maricopa County
and/or the Real Estate Director for Maricopa County shall administer this Agreement, as
amended.
9. The foregoing paragraphs contain all the changes made by this Amendment. All other
terms and conditions of the Agreement, as amended, remain the same and in full force
and effect.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

LEASE NO L-7329 AMENDMENT NO. 5
C-22-03-111-4-06
IN WITNESS WHEREOF, the Parties have fully executed this Amendment as of the last date
written below.
LESSOR: LESSEE:
Freanel & Son Gilbert, LLC Maricopa County, a political subdivision
an Arizona limited liability company of the State of Arizona
By: ____________________________ By: ________________________________
(signature) Jack Sellers, Chairman of the Board
_______________________________ ATTEST:
Title
Date:_________________ ____________________________________
Clerk of the Board Date
APPROVED AS TO FORM:
____________________________________
Deputy County Attorney Date