ASC PAYMENT DEFERRAL AGREEMENT.DOCX

Page 1 of 4
PAYMENT REDUCTION AND DEFERRAL AGREEMENT
 
This Payment Reduction and Deferral Agreement (Agreement) is entered into by and 
between the Flood Control District of Maricopa County, a political subdivision of the State of 
Arizona, as Lessor, and Arizona Sports Complex, LLC, an Arizona Limited Liability company, 
as Lessee.  Lessor and Lessee may be referred to herein collectively as “Parties” and individually 
as a “Party”.
RECITALS
WHEREAS, Lessor and Lessee, entered into that certain ground lease entitled LEASE 
AGREEMENT AD2004-01 PHASE 1 on June 25, 2009, and recorded on February 14, 2019 at 
Document Number 2019-0103689 in the Maricopa County Recorder’s Office (MCR), for 5.583 
acres of the property located within Assessor Parcel Number 206-40-002 which is located at 3555 
W Pinnacle Peak Road, Glendale, AZ 85310 (LEASE); and 
WHEREAS, the LEASE was amended as follows:
a)
An amendment dated August 26, 2015 to set forth terms and conditions under 
which the Lessee could add the ability to use the leased property for activities 
involving or requiring a liquor license; and
b)
Amendment to Lease Agreement AD2004-01 Phase 1, recorded on February 20, 
2020 at Document Number 2020-0142425, which extended the term of the lease, 
established a New Quarterly Payment Schedule, clarified maintenance 
responsibilities, and added a provision requiring annual structural inspections of the 
Lessee’s improvements (AMENDMENT); and
WHEREAS, in Section 4 of the AMENDMENT, Lessee agreed to pay Lessor quarterly, in 
advance, the sum of one-fourth (1/4) of the scheduled annual rent on the first business day of each 
calendar quarter throughout the entire term of the LEASE; and 
WHEREAS, to combat the COVID-19 global pandemic, on March 17, 2020, following 
updated guidance from the Centers for Disease Control and Prevention, the Arizona Department 
of Health Services issued updated guidance that included preventing gatherings of 10 or more 
people, thereby limiting certain types of recreation activities, leagues, and programs; and
WHEREAS, in light of the statewide Executive Orders for closures and curtailed events 
which negates income at the leased property, on March 23, 2020, Lessee requested that Lessor 
reduce the amount of, and defer, the quarterly payment due on April 1, 2020; and
WHEREAS, Lessor is committed to providing relief to residents and businesses during this 
unprecedented time in order to support economic stability, recovery, and growth; and 
WHEREAS, Lessor is amenable to reducing and deferring the payment that was due on 
April 1, 2020 (Deferred Payment) and the Parties desire to memorialize the terms of the reduction 
and deferral in this Agreement.

Page 2 of 4
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 
part of this Agreement.
2.
Capitalized terms used in this Agreement without definition shall have the 
meanings assigned to such terms in the LEASE and AMENDMENT, unless the 
context expressly requires otherwise. 
3.
Lessor will reduce the quarterly payment in the amount of Twenty-Two Thousand 
Eight Hundred Dollars and No/100 ($22,800.00) that was due on April 1, 2020 to 
Eleven Thousand Four Hundred Dollars and No/100 ($11,400.00). Said Deferred 
Payment shall be due to Lessor on or before April 1, 2021.  The payment shall: (a) 
be identified as being for Lease No. AD2004-01 April 1, 2020 Deferral Payment; 
(b) include the property address; (c) be paid in the exact amount due by check, 
certified check, or money order made payable to the Flood Control District of 
Maricopa County; and (d) be delivered to:
Maricopa County Real Estate Department
ATTN: Property Management
2801 W. Durango Street
Phoenix, AZ 85009
If Lessee does not pay the Deferred Payment in full on or before April 1, 2021, 
Lessor may commence any action necessary to ensure collection of the outstanding 
amount due to Lessor, and may also seek to recover any fees charged to Lessor as 
a result of any action(s) taken by Lessor to collect the debt.
4.
Lessee shall make all other scheduled quarterly payments in accordance with the 
New Quarterly Payment Schedule set forth in the AMENDMENT.
5.
This Agreement is subject to Arizona Revised Statute § 38-511 and may be 
canceled by Lessor pursuant thereto without any penalty or liability to Lessor.
6.
The foregoing paragraphs contain all the changes made by this Agreement. All 
other terms and conditions of the LEASE and AMENDMENT remain the same and 
in full force and effect, except as herein agreed.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
SIGNATURE PAGES FOLLOW

Page 3 of 4
LESSEE:
ARIZONA SPORTS COMPLEX, LLC, an Arizona Limited Liability Company
Dated this 
 day of 
, 2020
By:
Its:
STATE OF ARIZONA
)
) ss
COUNTY OF MARICOPA )
The foregoing instrument was acknowledged before me on this 
 day of 
, 2020, by 
, as 
 
of Arizona Sports Complex, an Arizona Limited Liability Company.
My Commission Expires: 
, 20
Notary Public

Page 4 of 4
LESSOR:
RECOMMENDED BY:
By:
Michael A. Fulton
Date
Director, Flood Control District of Maricopa County
APPROVED BY:
FLOOD CONTROL DISTRICT OF MARICOPA COUNTY
By:
       Clint Hickman, Chairman
Date
Board of Directors
APPROVED AS TO FORM and within the powers and authority granted under the laws of the 
State of Arizona and Maricopa County
General Counsel             
      
 Date