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Lease No. L-7382 Amendment No. 3 C-37-06-001-4-03 AMENDMENT No. 3 to LEASE AGREEMENT L-7382 Between 4041 CENTRAL PLAZA, LLC, LESSOR And MARICOPA COUNTY, LESSEE RECITALS A. Lessor and Lessee are parties to that certain lease Agreement L-7382 dated February 23, 2006, as amended by Amendment No. 1 dated July 6, 2011, and by Amendment No. 2 dated September 16, 2011, together (the “Agreement”). The Agreement is for leased premises at 4041 N. Central Avenue, Phoenix, AZ, consisting of 32,610 square feet of area (the “Premises”). B. The term of the Agreement expires on June 30, 2018. C. Lessor and Lessee now mutually desire to amend the Agreement to redefine the term and termination rights set forth in the Agreement, adjust the rental rate, modify the visitor parking validation amount and update Lessee’s notice address. AGREEMENT NOW THEREFORE, in consideration of the foregoing and other valuable consideration, Lessee and Lessor agree to amend the Agreement as follows: 1. The term of the Agreement shall be extended through June 30, 2023, 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, at Lessee’s sole discretion and without penalty or liability, shall also have the right to terminate all or a portion of the Premises in no less than 7,500 square foot intervals at any time after June 30, 2020, provided that Lessee provides Lessor ninety (90) days written notice of their intent to terminate any or all of the Premises. 2. Beginning August 1, 2017, Lessor and Lessee agree the monthly rent Lessee shall pay Lessor for the Premises shall be paid in accordance with the following rental rates: Lease Period Annual Rate Monthly Rate 8/1/2017 – 6/30/2018 $18.50 / SF $50,273.75 7/1/2018 – 6/30/2019 $18.75 / SF $50,953.13 7/1/2019 – 6/30/2020 $19.25 / SF $52,311.88 7/1/2020 – 6/30/2021 $19.75 / SF $53,670.63* 7/1/2021 – 6/30/2022 $20.25 / SF $55,029.38* 7/1/2022 – 6/30/2023 $20.75 / SF $56,388.13* *If Premises size is reduced, Monthly Rate will be adjusted. Lease No. L-7382 Amendment No. 3 C-37-06-001-4-03 The above rates include: (a) additional rent in the form of “Operating Expense Component” equal to the amount of Lessee’s share of operating expenses and (b) applicable rental tax. Lessee shall not be subject to any additional expense pass-through during the term of the Agreement. If Lessee elects to reduce the size of the Premises as contemplated in paragraph 1 above, the monthly rental rate for the continued use of the reduced Premises shall be billed at the rates in effect at the time of downsizing. The total amount due each month shall be adjusted downward proportionately on the first day of the month following the downsize to reflect only the amount due for the reduced size of the Premises. 3. Lessee’s parking rights set forth in the Agreement are hereby modified as follows: If Lessee elects to reduce the size of the Premises as contemplated in paragraph 1 above, the Lessee’s right to use unreserved parking spaces free of charge shall be adjusted downward on the first day of the month following the downsize by four (4) parking spaces per 1,000 square feet of demised space. There shall be no reduction of Lessee’s right to use the two (2) reserved parking spaces for the Superintendent and the Superintendent’s Assistant nor the two (2) reserved drop-off and pick-up parking spaces on the ground floor. Lessor shall provide Lessee free validation of visitor parking at Central Plaza equal to an amount not to exceed One Thousand Dollars ($1,000.00) per month. This visitor validation credit shall expire and reset at the end of each calendar month. 4. Notices to Lessee shall be sent to: Maricopa County Facilities Management Attn: Chief Real Estate Officer 2801 West Durango Street Phoenix, AZ 85009 5. The effective date of this Amendment No. 3 is the date of execution by the Chairman of the Maricopa County Board of Supervisors. 6. The foregoing paragraphs contain all the changes made by this Amendment No. 3. 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-7382 Amendment No. 3 C-37-06-001-4-03 IN WITNESS WHEREOF, the parties have signed this Amendment: LESSOR: LESSEE: 4041 Central Plaza, LLC, Maricopa County, a Delaware Limited Liability Company a political subdivision of the State of Arizona By: ____________________________________ ____________________________________ Signature Chairman of the Board of Supervisors ____________________________________ Printed Name ____________________________________ ATTEST: Title Date ____________________________________ Clerk of the Board Date APPROVED as to FORM: ____________________________________ Deputy County Attorney Date