2014-03-06 AIR QUALITY AT 1001 N CENTRAL - AMEND NO 7 .DOCX

LEASE No. L-7365 AMENDMENT No. 07
C-85-05-007-0-08
AMENDMENT No. 7 TO LEASE AGREEMENT
BETWEEN
CENTRAL ROOSEVELT I, LLC, LESSOR
AND
MARICOPA COUNTY, LESSEE
RECITALS
A. Lessor and Lessee are parties to that certain Lease Agreement No. L-7365 dated
and approved by the Maricopa County Board of Supervisors February 2, 2005 and
subsequently amended by Amendment No. 1 on November 21, 2006; Amendment
No. 2 on January 16, 2008; Amendment No. 3 on September 2, 2009;
Amendment No. 4 on November 17, 2010; Amendment No. 5 on January 12,
2011; and Amendment No. 6 on January 11, 2012 (together the “Agreement”).
The lease is for premises at 1001 N. Central Ave., Phoenix, AZ, consisting of
34,175 rentable square feet of lease space.
B. The term of the lease expires on August 31, 2016.
C. Lessor and Lessee now mutually desire to amend the Agreement to acknowledge
and document the assigned, reserved, covered parking spaces in the parking
garage located at 1001 N. Central Ave., Phoenix, AZ.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other valuable
considerations, Lessee and Lessor agree to amend Lease No. L-7365 as follows:
1. The term of the Agreement shall be extended through June 30, 2018, unless
terminated earlier as provide for in the Agreement. The Agreement is subject to
terminate pursuant to the provisions of A.R.S. 38-511.
2. Lessee agrees to pay as rent, in equal monthly installments, the sums as follows:
Lease Year Rate Monthly Annual
9/1/13 – 8/31/14 17.50/s.f. $49,838.54 plus tax $598,062.50 plus tax
9/1/14 – 8/31/15 17.50/s.f. $49,838.54 plus tax $598,062.50 plus tax
9/1/15 – 8/31/16 18.00/s.f. $51,262.50 plus tax $615,150.00 plus tax
9/1/16 – 8/31/17 18.00/s.f. $51,262.50 plus tax $615,150.00 plus tax
9/1/17 – 6/30/18 18.50/s.f. $52,686.46 plus tax $632,237.50 plus tax
3. Section 12 of the original lease document is deleted in its entirety and replaced
with the following:

“LESSEE may terminate this agreement during the term hereof by
giving LESSOR 180-days written notice on intent to terminate by
certified mail. In the event LESSEE terminates this agreement
during the term hereof, the rent payment heretofore made by
LESSEE shall be prorated on the number of days remaining in the
final month of occupancy. LESSOR shall refund the prorated
amount to LESSEE within 30 days after termination.”
4. The effective date of this Amendment is the date of execution by the Chairman of
the Maricopa County Board of Supervisors
5. The foregoing paragraphs contain all the changes made by this Amendment No. 7.
All other terms and conditions of the original agreement and as modified by
subsequent lease amendments number one, two, three, four, five, and six remain the
same and in full force and effect.
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LEASE No. L-7365 AMENDMENT No. 07
C-85-05-007-0-08
IN WITNESS WHEREOF, the parties have signed this Amendment
LESSOR: Central Roosevelt I, LLC LESSEE: Maricopa County Board
of Supervisors
By: ____________________________ By: ________________________
Chairman of the Board
_______________________________ ATTEST:
Title ____________________________
Clerk of the Board
Date:_________________ Date:__________________
This Amendment 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