L-7381 RE MCDPH LEASE WITH 4041 CENTRAL PLAZA LLC.PDF

Lease No. L-7381 Amendment No. 3
C-86-06-044-4-04
AMENDMENT No. 3 to LEASE AGREEMENT L-7381
Between
4041 CENTRAL PLAZA, LLC, LESSOR
And
MARICOPA COUNTY, LESSEE
RECITALS
A. Lessor and Lessee are parties to that certain lease Agreement L-7381 dated December 23,
2005, and approved by the Maricopa County Board of Supervisors December 21, 2005, as
amended by Amendment No. 1 to Lease Agreement L-7381 dated May 11, 2011, and
Amendment No. 2 to Lease Agreement L-7381 dated April 24, 2013, (together the
“Agreement”). The Agreement is for leased premises at 4041 N. Central Avenue, Phoenix,
AZ, consisting of 50,810 square feet of rentable 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 of
the Agreement, adjust the rental rate, increase the parking space allotment, update Lessee’s
notice address, as well as define remaining and add future tenant improvement allowances.
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.
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 - 9/30/2017 $0.00 / SF $0.00
10/1/2017 - 6/30/2018 $18.50 / SF $78,332.08
7/1/2018 - 6/30/2019 $18.75 / SF $79,390.63
7/1/2019 - 6/30/2020 $19.25 / SF $81,507.71
7/1/2020 - 6/30/2021 $19.75 / SF $83,624.79
7/1/2021 - 6/30/2022 $20.25 / SF $85,741.86
7/1/2022 - 6/30-2023 $20.75 / SF $87,858.96
Page 1 of 3

Lease No. L-7381 Amendment No. 3
C-86-06-044-4-04
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 or hold-
over period.
3. Via Paragraph 6 of Amendment No. 1 to Lease Agreement L-7381, Lessor agreed to
provide Lessee with a tenant improvement allowance of Two Dollars per rentable square
foot ($2.00/RSF) (the “Allowance”) to be drawn down by Lessee at their sole discretion.
If Lessee has any unused Allowance funds as of the date of the execution of this
amendment, Lessee may exercise its right to draw down on the remaining funds prior to
June 30, 2018. In addition, Lessee shall receive from Lessor, a separate tenant
improvement allowance equal to Two Dollars ($2.00) per rentable square foot upon
execution of this amendment. This additional allowance shall also be used at Lessee’s sole
discretion prior to June 30, 2018.
4. Lessee’s parking rights set forth in the Agreement are hereby modified as follows:
Lessor shall provide Lessee with Ten (10) covered reserved parking spaces and Three
Hundred Forty (340) unreserved covered parking spaces at the building garage free of
charge. All other parking rights set forth within the Agreement remain the same and in full
force and effect.
5. Notices to Lessee shall be sent to:
Maricopa County Facilities Management
Attn: Chief Real Estate Officer
2801 West Durango Street
Phoenix, AZ 85009
6. The effective date of this Amendment No. 3 is the date of execution by the Chairman of
the Maricopa County Board of Supervisors.
7. 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
Page 2 of 3

Lease No. L-7381 Amendment No. 3
C-86-06-044-4-04
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
Page 3 of 3