AMEND NO 5 TO GLENDALE HANGAR LEASE REV.PDF

LEASE No. L-7336 AMENDMENT No.5
C-50-04-004-4-00, 01, 02, 03
C-50-12-017-M-00
C-50-12-017-M-Ol
C-50-12-017-M-02
AMENDMENT No.5 TO LEASE AGREEMENT
BETWEEN
CHIN YI TU FAMILY LIVING TRUST, LESSOR
AND
MARICOPA COUNTY, LESSEE
RECITALS
A. WHEREAS, Lessor, as successor in interest to the City of Glendale and Corporate
Holdings, Inc d.b.a. Temple Air Center, and Lessee are parties to that certain lease
Agreement No. L-7336 approved by the Maricopa County Board of Supervisors under
agenda item C-50-04-004-4-00 on June 18,2003; and
B. WHEREAS, Lessee administratively updated the the lease under Maricopa County
Board of Supervisors agenda item C-50-04-004-4-02 on August 16, 2006,
documenting the change in ownership of Lessor from Corporate Holdings, Inc. d.b.a.
Temple Air Center to the City of Glendale, Arizona, which is acknowledged by the
parties to be Amendment No. 1to the lease; and
C. WHEREAS, Lessee and Lessor amended the lease under Maricopa County Board of
Supervisors agenda item C-50-04-004-4-03 as of January 14, 2009, to document the
change in ownership of the Premises from City of Glendale to Chin Yi Tu Family
Living Trust, and to document other changes to the lease agreement, which
amendment is acknowledged by the parties to be Amendment No.2 to the lease; and
D. WHEREAS, Lessee and Lessor amended the lease under Maricopa County Board of
Supervisors agenda item C-50-12-017-M-00 as of September 14, 2011, to remove
Hangar #4 from the Premises and to reduce Lessee's annual base rent, which
amendment is acknowledged by the parties to be Amendment No.3 to the lease; and
E. WHEREAS, Lessee and Lessor amended the lease under Maricopa County Board of
Supervisors agenda item C-50-l2-017-M-Ol as of February 12, 2014, Amendment
No.4 to the lease, to extend the term of the lease through December 31,2015; and
F. WHEREAS, the Premises is Hangar # 5 and Hangar #6 located at the City of
Glendale Airport at 6801 N. Glen Harbor Boulevard, Glendale, AZ, consisting of
approximately 8,293 square feet of hangar space; and
G. WHEREAS, Lessee's annual base rent is $48,000.00, plus rental tax, paid on a
quarterly basis on or before the first day of each quarter; and

H. WHEREAS, the term of the lease expires on December 31, 2015; and
I. WHEREAS, Lessor and Lessee now mutually desire to amend lease Agreement L-
7336 to modify the premises and to adjust the rent for the remaining lease term.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other valuable
considerations, Lessee and Lessor agree to amend the lease agreement as follows:
1. As of July 1, 2015, the Lessee shall vacate Hangar #6 and the leased premises
shall be Hangar #5.
2. Lessee shall pay Lessor as rent on a quarterly basis $6,000.00 plus applicable
taxes for each of the two (2) remaining quarters of the lease term which term shall
expire on December 31, 2015, unless terminated earlier as provided for in the
lease.
3. The effective date of this amendment is the date of execution by the Maricopa
County Board of Supervisors.
4. The foregoing paragraphs contain all the changes made by this amendment. All
other terms and conditions of the original agreement and as modified by
subsequent lease amendments remain the same and in full force and effect.
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LEASE No. L-7336 AMENDMENT No.5
C-50-04-004-4-00,0 1,02,03
C-50-12-0 17-M-00
C-50-12-017-M-Ol
C-50-12-017-M-02
IN WITNESS WHEREOF, the parties have signed this Amendment No.5:
LESSOR: Chin Yi Tu Family Living Trust LESSEE: Maricopa County
By: __ By: __
Chairman of the Board of Supervisors
ATTEST:
Title
Clerk of the Board of Supervisors
Date: __ Date: __
This Amendment No. 5 has been reviewed by the undersigned Deputy County Attorney, 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
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