LEASE RE AMD 2 CI PHX I-GW-LLC.PDF

Lease No. L-7396 Amendment No. 2
C-85-07-021-4-06
AMENDMENT No. 2 TO LEASE AGREEMENT
Between
CI PHX I-GW, LLC, LESSOR
And
MARICOPA COUNTY, LESSEE
RECITALS
A. CI PHX I-GW, LLC, an Arizona foreign limited liability company, as successor in interest to
Colfin 2015-7 Industrial Owner, LLC, as successor in interest to CREF LCP, LLC, as successor
in interest to Lincoln Commerce Park II Limited Partnership, Lessor, and Maricopa County, a
political subdivision of the state of Arizona, Lessee, are parties to that certain Lease Agreement
No. L-7396 approved by the Maricopa County Board of Supervisors May 16, 2007 and
subsequently amended by Amendment No. 1 on April 9, 2014, (the “Agreement”). The
Agreement is for leased premises in that certain office building located in the development
commonly known as Lincoln Commerce Park II (the “Property”) located at 2115, 2125, 2135
and 2145 S. 11th Avenue in Phoenix, AZ. The leased premises consist of 13,524 rentable square
feet of office and warehouse space in the Property known as 2145 South 11th Avenue, Suite 170,
Phoenix, AZ (the “Premises”).
B. The current term of the Agreement expires January 31, 2020.
C. Lessor and Lessee (together, the “Parties”) now mutually desire to amend the Agreement to
extend the lease term, adjust the rent payment schedule, provide for a renewal option, update
Lessee Notice address and outline a scope of improvements to be made to the Premises upon the
terms and conditions set forth in this Amendment No. 2 to the Agreement.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other valuable consideration, the
Parties agree to amend Lease No. L-7396 as follows:
1. The accuracy of the foregoing Recitals is acknowledged and the Recitals are hereby incorporated
into this Agreement.
2. The term of the Agreement shall be extended commencing February 1, 2020 through January 31,
2025, unless terminated earlier as provided for in the Agreement. This Agreement is subject to
termination pursuant to the provisions of A.R.S. § 38-511. This Agreement may be terminated
by Lessee at the end of any fiscal year due to non-appropriation of funds without penalty or
liability to Lessee. Lessee’s 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 2. Lessee shall have an
option to renew this Agreement for an additional five (5) year term at the market rental rate in
effect at the time of the renewal. To exercise the renewal option, Lessee shall give Lessor written
notice of its intent to renew at least one hundred eighty (180) days prior to the expiration of the
Agreement. This option to renew replaces the option to renew in Paragraph 15 of the Agreement.
3. Notices to Lessee shall be sent to:
Maricopa County Real Estate Dept.
Attn: Director
2801 W. Durango Street
Phoenix, AZ 85009
4. Beginning February 1, 2020, upon invoice, Lessee shall pay Lessor as base rent, in monthly
installments, the following sums:
Lease Month and Year Yearly Rate Monthly Payment
02/1/2020 to 3-31-2020 $0.00 $0.00
04/1/2020 to 1/31/2021 $7.79/sf/yr $8,779.33 plus rental tax
02/1/2021 to 1/31/2022 $8.02/sf/yr $9,038.54 plus rental tax
02/1/2022 to 1/31/2023 $8.26/sf/yr $9,309.02 plus rental tax
02/1/2023 to 1/31/2024 $8.51/sf/yr $9,590.77 plus rental tax
02/1/2024 to 1/31/2025 $8.51/sf/yr $9,590.77 plus rental tax
5. Paragraph 16 of the Agreement is deleted in its entirety.
6. Lessor acknowledges Lessee’s desire to make space modifications (the “Improvements”) within
the Premises and authorizes Lessee to make said Improvements to the space as shown on the
plans that are listed in Exhibit “A” to this Amendment No. 2, which Exhibit “A” (“Improvement
Drawings”) is attached hereto and made a part hereof. Lessee shall be financially responsible for
all costs associated with design, permitting, purchase and installation of the Improvements.
Lessee’s contractors shall have worker’s compensation, liability and property damage insurance
(naming Lessor as an additional insured) and Lessee’s architect and/or contractors shall have the
necessary permits, certificates and approvals from the appropriate governmental authorities. At
the completion of construction, Lessee shall provide Lessor with the actual cost (“Cost”) of the
Improvements and supporting documentation therefor.
7. Prior to construction of the Improvements, Lessee shall conduct a site survey of the Premises to
determine Lessor compliance with local, county, state and federal laws with regard to asbestos-
containing material (“ACM”) and presumed asbestos-containing material (“PACM”), including
the Occupational Safety and Health Agency’s (OSHA) General Industry (1910.100), the OSHA
Construction (1926.1101), and the Environmental Protections Agency’s (EPA) National
Emissions Standard for hazardous Air Pollutants 40 DFR Part 61 Subpart M. Particular attention
to the notification provisions of the OSHA 1926.1101 (k(1-5)) are to be adhered to. All building
surveys will be provided to and/or accessible to Lessor, outside contractors, in-house
maintenance, multi-employer worksite contractors and other commercial tenants. Should ACM
be found in the Premises, Lessor at Lessor’s sole cost and expense shall remediate and remove
all ACM as determined by Lessee prior to construction of the Improvements.

The Parties agree that, upon expiration of this Agreement, the Improvements shall be considered
as part of the realty and shall be surrendered with the Premises as a part thereof, excluding the
video monitors and supporting brackets, which shall remain property of Lessee and shall be
removed by Lessee. Notwithstanding the prior sentence, Parties agree that, in the event of an
early termination of this Agreement by Lessor, Lessor shall reimburse Lessee one hundred
percent (100%) of the Cost of the Improvements if this Agreement is terminated prior to February
1, 2020. If this Agreement is terminated on February 1, 2020 or later, Lessor shall reimburse
Lessee an amount prorated for the remaining months of this Agreement from February 1, 2020
through January 31, 2025, all such payments to be made within 30-days of the termination date.
In other words, with respect to the prorated amount, Lessor shall pay Lessee the Cost of the
Improvements divided by the number of months of the term (60), multiplied by the number of
months remaining for the term of this Agreement at the time of the termination. The parties agree
that Lessor’s reimbursement obligation under this paragraph shall not apply in the event of an
early termination of the Agreement by Lessor under any of the following circumstances: (i) as a
remedy for an Event of Default on the part of Lessee, (ii) pursuant to Lessor’s option as set forth
in Paragraph 18 of the Agreement (as supplemented by Addendum Paragraph 13), or (iii) in the
event of any early termination of the Agreement by Lessee.
8. The effective date of this Amendment No. 2 is the date of execution by the Maricopa County
Board of Supervisors.
9. The foregoing paragraphs contain all the changes made to the Agreement by this Amendment No.
2. All other terms and conditions of the Agreement remain the same and in full force and effect.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

Lease No. L-7396 Amendment No. 2
C-85-07-021-4-06
IN WITNESS WHEREOF, the Parties have signed this Amendment No. 2:
LESSOR: LESSEE:
CI PHX I-GW, LLC MARICOPA COUNTY
an Arizona foreign limited liability company a political subdivision of the state of Arizona
_____________________________________ ________________________________________
Lewis D. Friedland, Managing Director Steve Chucri
Chairman of the Board of Supervisors
_____________________________________
Date ATTEST:
________________________________________
Clerk of the Board Date
APPROVED as to FORM:
________________________________________
Deputy County Attorney Date

Lease No. L-7396 Amendment No. 2
C-85-07-021-4-06
Exhibit “A”
Improvement Drawings
A-2 Demolition Plan, Proposed Plan Bid Set Dated 2-14-2018
A-3 Key Plan, Demolition Plan, Proposed Plan, Ceiling Plan Details Bid Set Dated 2-14-2018
The foregoing plans referenced above are part of, and incorporated within, this Amendment No. 2 Lease
L-7396.