LEASE_AMENDMENT_1-24-2022 (PARTIALLY EXECUTED).PDF

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AMENDMENT TO LEASE AGREEMENT FCD 2001-01  
BETWEEN 
ARIZONA PUBLIC SERVICE COMPANY 
AND 
FLOOD CONTROL DISTRICT OF MARICOPA COUNTY 
Whereas, the Flood Control District of Maricopa County, as Lessor, and Arizona Public 
Service Company, an Arizona Corporation, as Lessee, entered into that certain Lease Agreement fully 
executed on December 3, 2001 for a portion of the Lessor’s fee property as described on the attached 
Exhibit “A”(“ORIGINAL LEASE”).  Lessor and Lessee may be referred to herein collectively as 
“Parties” and individually as a “Party”. 
Whereas, the initial term of the LEASE, ends on January 28, 2022, the Lessee has the right to 
exercise one (1) option to extend the lease term for twenty (20) years, and the Lessee has submitted a 
written request to exercise the renewal option for the twenty (20) year term. 
Whereas, Lessor and Lessee now desire to amend the LEASE to extend the term of the lease, 
establish a rental amount based on the appraisal of the property, (“AMENDMENT”). 
NOW THEREFORE in consideration of the mutual promises contained herein and other 
good and valuable consideration, the sufficiency and adequacy of which the Parties acknowledge, the 
Parties agree as follows: 
1.
The Recitals, by this reference, shall be incorporated herein and are hereby made a part of this
AMENDMENT.
2.
Capitalized terms used in this AMENDMENT without definition shall have the meanings
assigned to such terms in the LEASE, unless the context expressly requires otherwise.
3.
The Term of the LEASE is hereby extended for twenty (20) years beginning January 29, 2022
(Commencement Date) and ending on January 28, 2042, and Lessor shall not be obligated to extend
the term of the lease beyond January 28, 2042.
4.
The paragraph titled “RENT” of the LEASE is hereby stricken in its entirety and replaced with
the following new paragraph.

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Lessee agrees to pay the Lessor annually, in advance, the sum of $30,748 throughout the first five (5) 
years of the Term. Lessee shall pay the first annual Rent within thirty (30) days of the Commencement 
Date and subsequent annual Rent payments on or before the anniversary of the Commencement Date. 
In year six (6) of this agreement Lessor shall increase the rental by an accumulation of the five-year 
CPI (Consumer Price Index) for the first 5 years of the Term.  Each subsequent five-year period, 
Lessor shall apply the CPI appreciation rate for the immediately previous five years accumulative CPI 
increase as the appreciative factor, which shall be applied to the rental for the last year of the previous 
five year period to establish the appropriate rental rate going forward.  All payments shall: (1) be 
identified as being for Lease No. FCD 2001-01; (2) be paid in the exact amount due by check, certified 
check, or money order and made payable to the Flood Control District of Maricopa County; and (3) 
be delivered to:  
Maricopa County Real Estate Department 
ATTN: Property Management  
2801 W Durango Street 
Phoenix, AZ 85009 
5. The LEASE and this AMENDMENT are subject to Arizona Revised Statute § 38-511 and may be
canceled by Lessor pursuant thereto without any penalty or liability to Lessor.
6. Unless otherwise set forth in this AMENDMENT, the changes to the LEASE set forth herein shall be
effective as of the date this AMENDMENT is fully executed by the Parties.
7. The foregoing paragraphs contain all the changes made by this AMENDMENT.  All other terms and
conditions of the original LEASE remain the same and in full force and effect, except as herein
amended.
8. If there is any conflict between this AMENDMENT and the LEASE, this AMENDMENT shall
control.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

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GRANTOR: FLOOD CONTROL DISTRICT OF MARICOPA COUNTY 
RECOMMENDED FOR APPROVAL: 
Michael A. Fulton 
Date 
Director 
REAL ESTATE DEPARTMENT APPROVAL: 
Alex Smith 
 
Date 
Director of Real Estate  
Real Estate Department 
APPROVED AS TO FORM and within the powers and authority granted under the laws of the State of 
Arizona. 
District General Counsel 
             Date 










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APPROVED: 
BOARD OF DIRECTORS OF FLOOD CONTROL DISTRICT OF MARICOPA COUNTY 
Date 
Printed Name:  
Chairman of the Board 
ATTEST: 
Clerk of the Board           
Date 
STATE OF ARIZONA 
) 
)ss 
COUNTY OF MARICOPA ) 
Before me, 
 
 
 
 
 
, Notary Public in and for said County, State of 
Arizona, on this day personally appeared  
 
 
 
 
 
, known to me to be 
the person whose name is subscribed to the forgoing instrument as Chairman of the Board of the Political 
Subdivision in the foregoing instrument. 
Given under my hand and seal of the office this 
   day of 
, 2022. 
______________________________
Notary Public (signature)



	


	

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