AMD 7 TO L-7410 RE HOUSING FOR HOPE INC.PDF

Lease No. L-7410 Amendment No. 7
C-22-10-044-1-08
Amendment No. 7 to Lease Agreement
Between
Housing for Hope, Inc., an Arizona Non-Profit Corporation, Lessor
AND
Maricopa County, Lessee
RECITALS
A. WHEREAS Lessor, as successor in interest to Community Asset Resource Enterprise
Partnership, Inc. and Lessee are parties to that certain Lease Agreement No. L-7410 dated
March 2, 2010 and subsequently amended October 1, 2011, September 24, 2013,
September 23, 2015, June 22, 2016, August 23, 2017 and December 18, 2018
(collectively, the “Lease”), and
B. WHEREAS, the Lease is for the premises at 466 South Bellview Street, Mesa, Arizona,
consisting of 1,890 square feet of classroom space and certain playground area, and
C. WHEREAS, the term of the Lease expires on September 30, 2019, and
D. WHEREAS, Lessor and Lessee now desire to enter into this Amendment No. 7 to amend
the Lease to extend the term of the Lease and adjust the Lease rate.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Lessee and
Lessor agree to amend the Lease as follows:
1. The Recitals, by this reference, are incorporated into this amendment.
2. The term of the Lease is hereby extended three (3) years, commencing on October 1, 2019
and expiring on September 30, 2022. The Lease is subject to termination pursuant to the
provisions of A.R.S. § 38-511, the provisions of which are incorporated herein by this
reference.
3. Effective October 1, 2019 the Lease rate will adjust annually with two percent (2%) as
follows:
Period Rate/s.f. Monthly Yearly
10-1-19 to 9-30-20 $12.95 $2,040.00 plus rental tax (RT) $24,480.00 +RT
10-1-20 to 9-30-21 $13.21 $2,080.80 +RT $24,969.60 +RT
10-1-21 to 9-30-22 $13.48 $2,122.42 +RT $25,469.04 +RT
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Lease No. L-7410 Amendment No. 7
C-22-10-044-1-08
4. This amendment shall not become effective until it is executed by Maricopa County.
5. The foregoing paragraphs contain all the changes made by this amendment. All other terms
and conditions of the Lease not amended by this amendment remain the same and in full
force and effect.
IN WITNESS WHEREOF, the parties have signed this amendment
LESSOR: Housing for Hope, Inc. LESSEE: Maricopa County
_________________________________ ____________________________________
Steve Capobres, President/CEO Date Bill Gates
Chairman of the Board of Supervisors
ATTEST:
____________________________________
Clerk of the Board Date
This amendment has been reviewed by the undersigned Deputy County Attorney, who has
determined that it is proper in form and is within the power and authority granted under the laws
of the State of Arizona.
____________________________________
Deputy County Attorney Date
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