FREANEL & SON GILBERT, LLC LEASE L-7329 AMEND 4.PDF

LEASE NO L-7329 AMENDMENT NO. 4
C-22-03-111-4-04
AMENDMENT No. 4 TO LEASE AGREEMENT
BETWEEN
FREANEL & Son Gilbert, LLC, LESSOR
AND
MARICOPA COUNTY, LESSEE
RECITALS
A. Lessor and Lessee are parties to that certain Lease Agreement No. L-7329 with
FREANEL & Son Gilbert, LLC, (“Lessor”), and Maricopa County, (“Lessee”), dated
December 18, 2002, and as amended by Amendment No. 1 dated April 20, 2005, and as
amended by Amendment No. 2 dated May 6, 2014 and as amended by Amendment No. 3
executed by the Chairman of the Maricopa County Board of Supervisors on March 11,
2015; together the “Agreement”. The Agreement is for premises at 735 N. Gilbert Road,
Suites 134, 136, 138 and 140, Gilbert, AZ, consisting of 23,500 square feet of rentable
area.
B. The term of the Agreement expires on June 30, 2016.
C. Lessor and Lessee now mutually desire to amend the Agreement to extend the term of the
Agreement, adjust the annual rent schedule and to identify required tenant improvements,
the cost of such tenant improvements shall be the sole responsibility of Lessor and in an
amount not to exceed $70,000.
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 term of the Agreement is extended five (5) years to commence July 1, 2016 and
expire June 30, 2021.
2. Lessee agrees to pay as rent, in equal monthly installments, the sums as follows:
Period Rate Monthly Annual
7/1/2016 to 6/30/2017 $11.72 $22,951.67 $275,420.00
7/1-2017 to 6/30/2018 $12.07 $23,637.08 $283,645.00
7/1/2018 to 6/30/2019 $12.44 $24,361.67 $292,340.00
7/1/2019 to 6/30/2020 $12.81 $25,086.25 $301,035.00
7/1/2020 to 6/30/2021 $13.19 $25,830.42 $309,965.00

3. This Agreement is subject to termination pursuant to A.R.S. 38-511.
4. Lessor agrees to complete the tenant improvements in the aforesaid mentioned space as
set forth in Exhibit “A”, Work Letter, attached hereto and by this reference made a part
hereof, at the sole expense of the Lessor, not to exceed Seventy Thousand Dollars
($70,000.00).
5. The foregoing paragraphs contain all the changes made by this Amendment No 4. All
other terms and conditions of the original agreement and as modified by Amendment No.
1, Amendment No. 2 and Amendment No. 3 remain the same and in full force and effect.
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LEASE NO L-7329 AMENDMENT NO. 4
C-22-03-111-04-04
IN WITNESS WHEREOF, the parties have signed this Amendment No. 4:
LESSOR: FREANEL & Son Gilbert, LLC LESSEE: Maricopa County
By: ____________________________ By: ________________________________
Chairman of the Board
_______________________________ ATTEST:
Title ____________________________________
Clerk of the Board Date
Date:_________________
This Amendment has been reviewed by the undersigned Attorney for the County, who has determined that it is
proper in form and is within the power and authority granted under the laws of the State of Arizona.
_________________________________________
Deputy County Attorney Date

EXHIBIT ‘A’
WORK LETTER
Lessor shall provide, at it sole cost and expense, tenant improvements as shown below for 735
North Gilbert Road, Suite 134, 136, 138 and 140, Gilbert, AZ 85234 as follows:
Remodel public restrooms in computer lab area.
Repaint the areas in the center where there is significant wear.
Remove the cubes in one location and repaint and convert as a conference room.
Replace the employee breakroom sink with a commercial unit designed for greater capacity.
Other improvements as needed.