Extracted text (via pymupdf)
4734 characters
Lease No. L-7301
Amendment No. 4
C-50-01-014-4-04
Page 1 of 4
FOURTH AMENDMENT TO LEASE
No. L-7301
THIS FOURTH AMENDMENT TO LEASE (the “Fourth Amendment”), is by and
between the Town of Cave Creek (“Lessor”) and Maricopa County, a political subdivision of the
State of Arizona (“Lessee”), together (the “Parties”) and is dated as of August _______, 2025
(“Effective Date”).
R E C I T A L S
WHEREAS, Lessee and Lessor entered into that certain Lease Agreement No. L-7301 dated
September 6, 2000, (the “Lease”) and subsequently amended May 12, 2010 (the “First
Amendment”) , June 1, 2015 (the “Second Amendment”),and August 19, 2020 (the “Third
Amendment) (collectively, the “Lease”) for Lessee’s use of 4,432 square feet of office space and
use of common areas in the Town of Cave Creek’s municipal complex located at 37622 North
Cave Creek Road, Cave Creek, Arizona; and
WHEREAS, the current Extended Term of the Lease expires August 31, 2025; and
WHEREAS, the Parties now desire to execute this Fourth Amendment and further extend the term
of the Lease and adjust the Lease rate.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties hereto agree as follows:
1.
Incorporation of Recitals/Capitalized Terms. The Recitals set forth above are deemed
to be true and accurate in all respects and are hereby incorporated into this Fourth Amendment by
this reference. Capitalized terms used in this Fourth Amendment shall have the same meanings as
ascribed to them as in the Lease unless otherwise expressly defined in this Fourth Amendment. In
the event of any conflict between the terms of the Lease and the terms of this Fourth Amendment,
the terms of this Fourth Amendment shall govern control.
2.
Effective Date. Unless otherwise set forth in this Fourth Amendment, the changes to the
Lease set forth herein will be effective as of the Effective Date.
3.
Term, Renewal Term. The term of the Lease is hereby extended for a period of sixty (60)
months, from September 1, 2025, to August 31, 2030, (the “Extended Term”) unless sooner
terminated as otherwise provided in the Lease. This Fourth Amendment is subject to the provisions
of A.R.S. §38-511 and may be terminated pursuant thereto. In the event of expiration of the Lease
without a fifth renewal, Lessor hereby grants to Lessee the right of continued occupancy of
Premises as a” Hold Over tenant” on a “month to month” basis for up to six (6) months at the
Lease rate in effect at the time of expiration, payable monthly.
Lease No. L-7301
Amendment No. 4
C-50-01-014-4-04
Page 2 of 4
4.
Rent. Section 3 shall be amended for the term beginning September 1, 2025 and the initial
rent due from the Lessee during the first year of the Extended Term shall be Nine Thousand Four
Hundred Eighteen Dollars Cents ($9,418.00 ) per month plus rental taxes. Effective September 1,
2025 , and annually thereafter, the rent shall increase Fifty Cents ($0.50) per square foot as set
forth below, plus additional rental tax.
Term
Per SF
Monthly rate
Annually
9-1-2025 to 8-31-2026
$25.50
$9,418.00
$113,016.00
9-1-2026 to 8-31-2027
$26.00
$9,602.67
$115,232.00
9-1-2027 to 8-31-2028
$26.50
$9,787.33
$117,448.00
9-1-2028 to 8-31-2029
$27.00
$9,972.00
$119,664.00
9-1-2029 to 8-31-2030
$27.50
$10,156.67
$121,880.00
5.
The foregoing paragraphs contain all the changes made by this Fourth Amendment. All
other terms and conditions of the original Lease and previous amendments thereto remain the same
and in full force and effect.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
Lease No. L-7301
Amendment No. 4
C-50-01-014-4-04
Page 3 of 4
LESSOR:
Town of Cave Creek
_____________________________________
Grady E. Miller
Town Manager
ATTEST:
_____________________________________
Teresa Riza, Town Clerk
Date
APPROVED as to FORM:
_____________________________________
Town Attorney
Date
Lease No. L-7301
Amendment No. 4
C-50-01-014-4-04
Page 4 of 4
LESSEE:
Maricopa County, a political subdivision of the State of Arizona
___________________________________________________
Chairman of the Board of Supervisors
Date
ATTEST:
_____________________________________
Clerk of the Board
Date
APPROVED as to FORM:
_____________________________________
Deputy County Attorney
Date