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Lease No. L7453
C-86-15-005-1-07
FOURTH AMENDMENT TO OFFICE LEASE
RECITALS
A.
Higley Project, LLC, a Wyoming limited liability company (Landlord), and Maricopa County, a
political subdivision of the State of Arizona (Tenant), are parties to that certain Office Lease dated
July 30, 2014, and subsequently amended by First Amendment dated November 20, 2019, Second
Amendment dated July 1, 2022, and Third Amendment dated November 15, 2023 (collectively,
Agreement). The Agreement is for Tenant’s use of premises located at 1850 North 95th Avenue,
Suite 182, Phoenix, AZ, consisting of approximately 4,702 rentable square feet of office space.
B.
The term of the Agreement expires December 31, 2024.
C.
Landlord and Tenant now mutually desire to enter into this Fourth Amendment to the Agreement
(Amendment) to: (a) add a month-to-month holdover; and (b) include a 30-day written notice to
vacate.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other good and valuable
consideration, receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree
as follows:
1.
The Recitals, by this reference, are hereby incorporated in this Amendment.
2.
Capitalized terms used in this Amendment without definition shall have the meanings assigned to
such terms in the Agreement unless the context expressly requires otherwise.
3.
Section 1.6 of the Lease, as amended by Section 3 of the First Amendment, Section 2.2 (a) of the
Second Amendment and Section 3 of the Third Amendment to the Agreement are deleted in their
entirety and replaced with the following:
1.6
In the event of expiration of the Agreement without renewal, Lessor hereby grants to
Lessee the right of continued occupancy of the Premises as “hold over tenant” on a “month to
month” basis for up to four (4) months at one hundred fifty percent (150%) of the Monthly
Installment rate in effect for the last month of the current term of the Agreement pursuant to the
terms, provisions and conditions of this Agreement as more specifically stated in Section 1.11 of
this Agreement. Any holdover after this four-month period shall also be at one hundred fifty percent
(150%) of the Monthly Installment rate in effect for the last month of the current term of this
Agreement.
4.
Section 1.11 of the Agreement, as amended by the chart in Section 4 of the First Amendment,
Section 2.3 of the Second Amendment and Section 4 of the Third Amendment of the Agreement
are deleted in their entirety and replaced with the following:
1.11
Monthly Installments during the month-to-month period shall be in the amount of Fourteen
Thousand Nine Hundred eighty-seven dollars and sixty-two cents ($14,987.62), plus applicable
sales and transaction privilege taxes at their current rate, with any increased rates as actually and
directly levied in the future, as stated in Section 2.3 of the Second Amendment to the Agreement.
Docusign Envelope ID: 032EA1F3-FCA3-4A9D-AF1D-4FEB5BF16850
Lease No. L7453
C-86-15-005-1-07
Base Rent does not include electrical expenses related to the premises, which expenses Tenant pays
directly.
5.
Effective January 1, 2025, Tenant agrees to provide Landlord with written notice of its intent to
vacate at least 30 days in advance.
6.
The Agreement is subject to cancellation pursuant to the provisions of A.R.S. § 38-511.
7.
The foregoing paragraphs contain all the changes made by this Amendment. All other terms and
conditions of the Agreement remain the same and in full force and effect.
IN WITNESS WHEREOF, the Amendment is made and entered into as of the last date written below.
LANDLORD:
Higley Project, LLC, a Wyoming limited liability company
By:
Print Name:
Title:
Date:
Yury Gampel
Managing Partner
9-26-2024
Docusign Envelope ID: 032EA1F3-FCA3-4A9D-AF1D-4FEB5BF16850
Lease No. L7453
C-86-15-005-1-07
TENANT:
Maricopa County, a political subdivision of the State of Arizona
____________________________________
Chairman of the Board of Supervisors
ATTEST:
____________________________________
Clerk of the Board
Date
APPROVED as to FORM:
____________________________________
Deputy County Attorney
Date
Docusign Envelope ID: 032EA1F3-FCA3-4A9D-AF1D-4FEB5BF16850
10/4/2024