AMENDMENT TO LEASE L-7392 WITH HF1-D PHOENIX 1706.PDF

LEASE No. L-7392 AMENDMENT No. 04
C-22-07-113-4-05
AMENDMENT NO. 4 TO LEASE
BETWEEN
HF1-D PHOENIX 1706, LLC
AND
MARICOPA COUNTY
RECITALS
A. HF1-D PHOENIX 1706, LLC, a Delaware limited liability company registered to do
business in Arizona, successor in interest to SWRE Deal V Building, LLC (“Landlord”),
and Maricopa County, a political subdivision of the state of Arizona (“Tenant”), are parties
to that certain Lease Agreement No. L-7392 dated January 19, 2007 (the “Original Lease”);
and that certain letter agreement dated July 26, 2007, Amendment No. 1 dated September
12, 2012, Amendment No. 2 dated January 9, 2013 and Amendment No. 3 dated May 13,
2015 (collectively, the “Lease”). The Lease is for premises at 1840 North 95th Ave., Suite
160, Phoenix, AZ 85037, consisting of 32,710 rentable square feet of office space
(“Premises”).
B. The term of the Lease expires on June 30, 2019.
C. Landlord and Tenant now mutually desire to amend the Lease to extend the term of the
Lease and modify the rent.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other good and valuable
consideration, Landlord and Tenant agree to amend Lease as follows:
1. Recitals. The foregoing recitals are by this reference incorporated and made a part of this
Amendment No. 4. Capitalized terms used in this Amendment No. 4 but not otherwise defined
herein have the meanings given such terms in the Lease.
2. Term. The term of the Lease is hereby extended, commencing July 1, 2019 and expiring
on December 31, 2019, unless terminated earlier as provided for in the Lease. Landlord
and Tenant acknowledge that this Lease is subject to termination pursuant to the provisions
of A.R.S. § 38-511. Landlord and/or any of its employees, agents, officers, directors,
members, successors or assigns hereby waives any and all rights to bring claim against
Tenant or its employees, agents, officers, directors, members, successors or assigns from
or relating in any way to Tenant’s termination of this Lease pursuant to this Section.
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LEASE No. L-7392 AMENDMENT No. 04
C-22-07-113-4-05
3. Rent: Monthly Installments. Effective July 1, 2019 the rent for the Premises shall be
as follows:
Annual Rate Annual Monthly
Lease Period Per Square Foot* Base Rent* Installment*
07/1/19 – 12/31/19 $27.50/s.f. $899,525.00 $74,960.42
*plus any and all applicable sales and transaction privilege taxes due thereon
4. Option to Extend. Section 3 of Exhibit “A” to the Original Lease, Option to Extend, is
hereby canceled, and therefore is of no further force or effect. Tenant has no further or
additional right or option to extend the Lease Term.
5. Right of First Refusal. Section 6 of Exhibit “A” to the Original Lease, Tenant’s Right of
First Refusal, is hereby canceled, and therefore is of no further force or effect. Tenant has
no further or additional right of first refusal under the Lease.
6. Brokers. Each party represents and warrants to the other that no broker, agent or finder
negotiated or was instrumental in negotiating or consummating this Fourth Amendment,
Each party agrees to defend, indemnify and hold harmless the other party from and against
any claim for commission or finder’s fee by any person or entity who claims or alleges that
they were retained or engaged by the indemnifying party or at the request of such party in
connection with this Fourth Amendment.
7. Binding Effect. The foregoing paragraphs contain all the changes made by this
Amendment No. 4 to Lease. All other terms and conditions of the Lease remain the same
and in full force and effect. This Amendment No. 4 to the Lease shall bind and inure to the
benefit of the parties hereto and their respective heirs, successors and assigns.
8. Counterpart signatures. This Amendment No. 4 to Lease may be executed by the parties
hereto in one or more counterparts. All counterparts shall be valid and binding on the party
or parties executing them and all counterparts shall constitute one and the same document
for all purposes.
[Signature page follows]
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LEASE No. L-7392 AMENDMENT No. 04
C-22-07-113-4-05
IN WITNESS WHEREOF, the parties have executed this Amendment as of the last date written
below.
LANDLORD: TENANT:
HF1-D Phoenix 1706, LLC Maricopa County
________________________________ ______________________________
Todd Glass Date Bill Gates
Sr. Managing Director, Investments Chairman of the Board of Supervisors
Humphreys Fund I REIT, LLC
ATTEST:
______________________________
Clerk of the Board Date
APPROVED as to FORM:
______________________________
Deputy County Attorney Date
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