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Lease No. L-7479 Amendment No. 1 C-85-19-002-1-02 AMENDMENT No. 1 TO LEASE AGREEMENT (“AMENDMENT”) BETWEEN IP BPG CITY SQUARE, LLC AND MARICOPA COUNTY RECITALS A. Maricopa County, a political subdivision of the state of Arizona (“Lessee”), and IP BPG City Square, LLC, a Delaware limited liability company, authorized to do business in Arizona (“Lessor”) are parties to that certain Lease Agreement No. L-7479 dated August 1, 2018 (“Agreement”). The Agreement is for the premises located at 3800 North Central Ave, Suites 1200, 1400, and 1700, Phoenix, AZ, consisting of 26,098 rentable square feet of office space (the “Premises”). B. Pursuant to Section 10 of the Agreement, Lessee received notice on March 21, 2019 from AG-POP CS 3838 Owner, LLC, a Delaware limited liability company, the original property owner and lessor under the Agreement, that Lessor would be the new property owner and successor lessor of the Agreement via Trustee’s Deed as recorded with the County Recorder on March 11, 2019 via instrument number 2019-0166571. C. The term of the Agreement expires on December 31, 2021. D. As part of the Agreement negotiations, Lessee requested, and Lessor agreed, to construct certain tenant improvement work after the Agreement Commencement Date on Lessee’s behalf (“Additional Work”) as defined on Exhibit “A,” attached hereto and made a part hereof. E. Lessor and Lessee now mutually desire to enter into this Amendment No. 1 (“Amendment”) to amend the Agreement to: (1) memorialize Lessor’s completion of, and Lessee’s acceptance of, the Additional Work; (2) authorize Lessee’s reimbursement to Lessor for the Additional Work at Lessee’s proportionate share of 62.5% of said work; (3) allow use by Lessee of, and adjust the rent amount to include payment for, four (4) storage units in the basement of the Building; and (4) add provisions to allow for future alterations. 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. Lease No. L-7479 Amendment No. 1 C-85-19-002-1-02 3. Lessor affirms that all necessary permitting, procurement, construction, and project management to deliver the Additional Work has been completed in a good and workmanlike manner in full compliance with all applicable federal, state and local laws, statutes, rules, regulations, codes and ordinances including, but not limited to, health, building, zoning, fire and safety codes, all applicable environmental statutes, regulations and ordinances, the Americans with Disabilities Act of 1990, A.R.S. §§ 9-499.02, 41-1492 through 41-1492.11, the Architectural Barriers Act of 1968, the Uniform Federal Accessibility Act of 1983 and the Arizona Native Plant Law. All construction materials used were new and subject to industry standard warranties. Lessor also affirms that final building inspections and approvals as required have been obtained and a certification from the architect that all such work was constructed in substantial conformity with the applicable plans and specifications if required has been issued. Notwithstanding the foregoing, Lessor shall undertake to remedy, at no expense to Lessee, those building code violations or other violations of applicable law (if any) resulting from Lessor’s failure to initially construct the Tenant Improvements and/or Additional Work in accordance with applicable building codes and other applicable laws in effect at the time of permit issuance, of which violations Lessor receives a written violation notice from any governmental authority. 4. Lessee affirms that the Additional Work has been completed and shall reimburse Lessor fifty-three thousand, three hundred eighty-five ($53,385.00) dollars as reflected in Exhibit “A” within thirty (30) days of execution this Amendment. 5. In addition to the Premises, Lessee shall have the right to use, as additional leased space, three (3) storage units at 100 square feet each, and one (1) storage unit at 84 square feet, for a total of 384 square feet (“Storage Units”), which are located in the basement of the Building, at a rate of $1 per square foot per month. The total rental amount of three hundred eighty-four ($384.00) dollars plus rental tax for the Storage Units is hereby added to the Rent. 6. Lessor agrees that Lessee, at Lessee’s expense may, from time to time, make alterations and improvements, whether by addition or deletion (“Alterations”), to the interior of the Premises as may be necessary or desirable for the conduct of business of Lessee; provided, however, Lessee shall not make any Alterations to the Premises without Lessor’s prior written consent, which shall not be unreasonably withheld, except such consent shall not be required for non-structural alterations which cost less than Two Thousand Five Hundred and No/100 Dollars ($2,500.00) in the aggregate during any calendar year. Lessee shall not make or permit any roof penetrations and/or install anything on the roof without the prior written approval of Lessor. Any Alterations that the Lessee shall desire to make and which require consent of the Lessor shall be presented to Lessor in written form with detailed plans. Consent shall be deemed conditioned upon Lessee’s: (i) acquiring all applicable governmental permits, (ii) furnishing Lessor with copies of both the permits and the plans and specifications prior to commencement of the work, and (iii) compliance with all conditions of said permits and other laws, covenants or restrictions of record, regulations and ordinances (“Applicable Requirements”) in a prompt and expeditious manner. Any Alterations shall be performed in a good and workmanlike manner. 7. Unless otherwise set forth in this Amendment, the changes to the Agreement set forth herein will be effective as of the date the Amendment is fully executed by the Parties (the “Effective Date”). Lease No. L-7479 Amendment No. 1 C-85-19-002-1-02 8. The foregoing paragraphs contain all the changes made by this Amendment. All other terms and conditions of the original Agreement remain the same and in full force and effect, except as herein amended. IN WITNESS WHEREOF, the Parties have fully executed this AMENDMENT as of the last date written below. LESSOR: LESSEE: IP BPG City Square, LLC, Maricopa County a Delaware limited liability company, authorized to do business in the state of Arizona By: Barker Pacific Group, Inc. _______________________________________ a Delaware corporation Bill Gates its authorized agent Chairman, Board of Supervisors ATTEST: By:______________________________ Name : _______________________________________ Title:_____________________________ Clerk of the Board Date APPROVED AS TO FORM: _______________________________________ Deputy County Attorney Date Lease No. L-7479 Amendment No. 1 C-85-19-002-1-02 Exhibit “A” Additional Work – Description Lessee shared costs: * Install Access Card Reader System (Maricopa Card Readers) $65,422.00 * Additional Electrical work as requested by Lessee (8011PR3) $11,994.00 * Expedited Permitting Fees $ 8,000.00 $85,416.00 x 62.5% = $53,385.00 Lessee’s proportionate share of the total shared costs are calculated at 62.5% which equals $53,385.00.