AMENDMENT NO. 4 TO LEASE RE 4041 CENTRAL PLAZA, LLC.PDF
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Lease No. L-7381
Amendment No. 4
C-86-06-044-4-06
Page 1 of 16
AMENDMENT No. 4 to LEASE AGREEMENT L-7381
Between
4041 CENTRAL PLAZA, LLC, LESSOR
And
MARICOPA COUNTY, LESSEE
RECITALS
A.
Lessor and Lessee are parties to that certain Lease Agreement L-7381 dated December 23,
2005, as amended by Amendment No. 1 dated May 11, 2011, Amendment No. 2 dated April
24, 2013, and Amendment No. 3 dated July 26, 2017 (collectively “Agreement”). The
Agreement is for leased premises at 4041 N. Central Avenue, Phoenix, AZ, consisting of
50,810 rentable square feet of office space.
B.
The term of the Agreement expires on June 30, 2023.
C.
Lessor and Lessee now mutually desire to enter into the Amendment No. 4 (“Amendment”)
to amend the Agreement to increase the rentable square footage of office space, extend the
term of the Agreement by six (6) months, define tenant improvements, adjust the rental rate,
increase the parking space allotment, replace the SNDA/ESTOPPEL language and exhibits
(templates), update the delegation of authority language, as well as update Lessee’s notice
address.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration,
receipt and sufficiency of which is hereby acknowledged, Lessor and Lessee agree to amend
Agreement as follows:
1. The Recitals, by this reference, are hereby incorporated into this Agreement.
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. Pursuant to this Amendment, Lessor agrees to lease to Lessee Suite numbers 840 and 850
representing an additional five thousand eighty-eight (5,088) rentable square feet of office space
as depicted on Exhibit “B”, attached hereto and made a part hereof. The amended total rentable
square footage of office space is fifty-five thousand eight hundred ninety-eight (55,898) square
feet (“Premises”) as listed on Exhibit “A” attached hereto and made a part hereof. All references
in the Agreement, as amended, to “Premises” shall mean the Premises as modified pursuant to
this Amendment.
4. Lessor, at its sole cost and expense, shall be responsible for permitting, if required, procurement,
construction and project management in order to deliver Suites 840 & 850 to the Lessee
substantially completed (see Substantially Completed below) as a turn-key space on or before
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April 30, 2020. The Approved Construction Plans, as hereinafter defined, shall include the
demolition and improvements as depicted on Exhibit “B” consisting of a Proposed Plan sheet A-
1 which includes the location of necessary junction boxes and conduit stub-ups required for the
Lessee’s badge reader system, attached hereto and made a part hereof (“Tenant Improvements”).
Lessee shall, at its sole cost and expense, install the furniture, fixtures, and equipment to Suites
840 and 850. Lessee shall be solely responsible for any increase in cost resulting from a change
in the Approved Construction Plans requested by Lessee.
(a) As Lessor is not a licensed contractor, Lessor shall retain an appropriately licensed contractor
(“Contractor”) to complete the Tenant Improvements. Lessor shall pay the Contractor directly
for the Tenant Improvements and administer said contract in accordance with Lessor’s
standard procedures and prudent project management.
(b) Lessor shall provide Lessee a detailed design and construction progress schedule (“Progress
Schedule”) within 10 days of execution of this Agreement. The detailed Progress Schedule
shall include a project timeline (i.e. schedules for design, permitting, and construction). The
schedule shall include line items with dates labeled ‘Permit Received’, ‘Occupancy’,
‘Substantial Completion’, ‘Certificate of Occupancy’, and ‘Final Completion’ etcetera.
Lessor shall provide an updated Progress Schedule weekly throughout the project.
(c) Lessor shall implement the following coordination effort with Lessee:
Design
o Within ten (10 days) of execution of this Amendment, Lessor’s design team shall hold
weekly teleconferences with Lessee, as needed, until the required permits are issued
o Lessor shall provide Lessee’s representative (see Section 4k below) with design
updates including review of 60% design drawings and 95% design drawings prior to
permit submission to jurisdictional entities for approval
o Read only CAD files to be provided to Lessee’s representative for 60% and 95%
review (for furniture confirmation fit)
o Lessee’s representative shall have two business days to comment or provide concerns
back to Lessor upon each submittal of drawings for review
o Lessor to provide Lessor’s selected interior design finishes and material selection to
Lessee for review and approval
Construction:
o Lessor’s Contractor and/or building representative (see Section 4K below) shall hold
regular scheduled onsite in-person weekly meetings with Lessee during the
construction phase
o Lessor’s Contractor and/or building representative to provide weekly agendas prior to
each meeting including the tracking of old business, new business, and schedule
(d) Lessor, at its sole cost and expense, shall, if required, produce construction plans for the
Tenant Improvements for Lessee's approval and upon Lessee's approval such construction
plans shall constitute the "Approved Construction Plans" Following Lessee's approval of the
Approved Construction Plans, Lessor shall promptly submit the Approved Construction Plans
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to all required permitting agencies with jurisdiction, and to obtain all required permits and
approvals for construction of the Tenant Improvements.
(e) All Tenant Improvements and construction shall be performed in a good and workmanlike
manner in full compliance with all applicable federal, state and local rules, regulations, codes
and ordinances including, but not limited to, health, building, zoning, fire and safety codes,
all applicable environmental statutes, regulations and ordinances, the Americans with
Disabilities Act of 1990, A.R.S. §§ 9-499.02, 41-1492 through 41-1492.11, the Architectural
Barriers Act of 1968, and the Uniform Federal Accessibility Act of 1983. Lessor shall also
ensure that all activities (operations and/or construction) are in compliance with all applicable
federal, state and local air quality and environmental laws, regulations or policies.
(f) All construction materials shall be new and shall be subject to industry standard warranties.
Upon completion of the Tenant Improvements, Lessor shall obtain final building inspections
and approvals if required and a certification from its Contractor that all such work was
constructed in substantial conformity with the applicable plans and specifications if required.
Notwithstanding the foregoing, Lessor shall undertake to remedy, at no expense to Lessee,
those building code violations or other violations of applicable law (if any) resulting from
Lessor’s failure to initially construct the Tenant Improvements in accordance with applicable
building codes and other applicable laws in effect at the time of permit issuance of which
violations Lessor receives a written violation notice from Lessee or any governmental
authority.
(g) Prior to the commencement of the Tenant Improvements, Lessor shall ensure Contractor has
purchased, and maintains throughout construction, all standard insurance coverage at levels
standard in the industry from a company or companies duly licensed by the State of Arizona
and require any subcontractors to maintain equivalent insurance based in their trade and
participation in the work.
(h) NOTICE IS HEREBY PROVIDED that the staff of Maricopa County does not have the
authority to perform technical review or approval of any plans or work performed to construct
the Tenant Improvements. Lessor also acknowledges that the staff of Maricopa County does
not have the authority nor ability to issue permits or licenses that may be required to be
obtained pursuant to this Agreement or other permitting or licensing agency requirements,
and the determination of whether Lessor is in compliance with the permitting and licensing
requirements lies with the respective permitting or licensing agency. The execution of this
Agreement shall not be considered approval of any permit or license by Maricopa County.
(i) The term “Substantially Completed” or any grammatical variation thereof, when used in this
Amendment, shall mean: 1) the construction of the Tenant Improvements have been
completed, except for Punch List Items, as hereinafter defined, 2) a Certificate of Occupancy
and/or Fire Marshal and any other jurisdictional agency’s required sign-off for Lessee to
occupy the Premises has been obtained, and 3) notice has been delivered to Lessee that Suites
840 & 850 are ready for Lessee’s use and/or installation of Lessee’s furniture and fixtures
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with the exception of Punch List Items which can be fully completed subsequent to the date
the jurisdictional authority completes its final inspection.
(j) Within ten (10) business days after notice of Substantial Completion of the Tenant
Improvements, or a portion thereof, Lessee shall supply to Lessor a written list of items that
constitute minor defects or adjustments which can be completed after Substantial Completion
of the Tenant Improvements without causing any material interference with Lessee’s use of
the Premises (“Punch List Items”), setting forth all corrective work to the Tenant
Improvements which Lessee reasonably believes is/are required to be performed. Lessor shall
perform all such corrective work to the extent necessary and complete the Punch List Items
within thirty (30) calendar days from receipt of the written list. If Lessee does not provide a
written Punch List within such ten (10) business day period, Lessee shall be deemed to have
accepted the Tenant Improvements in their entirety.
(k) Lessee hereby designates Paul Corens (Facilities Management Dept.), who can be reached at
Paul.Corens@Maricopa.Gov or by phone at 602.527.3538, as its representative and agent for
the purpose of receiving notices, reviewing submittals and issuing requests for changes to the
proposed Tenant Improvements and for Lessee review of the installed Tenant Improvements.
Lessor hereby designates Garth Reyer, who can be reached at (Younan Properties)
greyer@younanproperties.com or by phone at 602.796.8292, as its representative and agent
for the purpose of receiving notices, reviewing submittals and requests for changes to the
proposed Tenant Improvements.
5. This Agreement shall be effective when executed by the Maricopa County (“Effective Date”).
As of the Effective Date, Lessee and its employees, agents, contractors, subcontractors, engineers,
consultants, suppliers and other representatives, and their respective employees, shall be
permitted to enter and occupy the Premises simultaneously with the Lessor’s Contractor, free of
charge, for the purposes of inspecting same, and to install Lessee’s equipment (including, but not
limited to telephone, communications and computer equipment, wiring and cabling, and badge
readers) (“Equipment Install Period”); provided, however, that Lessee shall not interfere with
Lessor’s performance of any remaining work in the Premises during this period. In addition,
Lessee and its employees, agents, contractors, subcontractors, engineers, consultants, suppliers
and other representatives, and their respective employees, shall be permitted to enter and occupy
the Premises, free of charge, beginning April 30, 2020 for a period of time up to twenty-one (21)
days prior to the Suites 840/850 Commencement Date, as herein defined, for the limited purposes
of the installation of Lessee’s furniture, fixtures and any remaining equipment (“Early Occupancy
Period”).
6. The commencement date (“Suite 840/850 Commencement Date”) shall be the earlier of: a) 21
days following April 30, 2020, or b) the date that Lessee first conducts business from either Suite
840 or Suite 850. Rent begins to accrue with respect to Suite 840 and Suite 850 on the Suites
840/850 Commencement Date.
7. The term of the Agreement shall be extended six months, expiring on December 31, 2023, unless
terminated earlier as provided for in the Agreement. This Agreement, as amended, is subject to
termination pursuant to the provisions of A.R.S. § 38-511. This Agreement may be terminated by
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Lessee at the end of any fiscal year due to non-appropriation of funds without penalty or liability
to Lessee.
8. Beginning on the Effective Date, Lessor and Lessee agree Lessee shall pay rent as follows:
Lease Term
Rentable SF Rate
Monthly
Annual
current space:
Effective Date – 6/30/20 50,810
$19.25/RSF
$81,507.71
$978,092.50
Suites 840/850:
Equipment Install Period 5,088 $0.00/RSF
$0.00
$0.00
Early Occupancy Period 5,088
$0.00/RSF
$0.00
$0.00
840/850 Commencement
Date Thru 6/30/20
5,088
$19.25/RSF
$8,162.00
$97,944.00
total space:
7/1/20‐6/30/21
55,898
$19.75/RSF
$91,998.79
$1,103,985.50
7/1/21‐6/30/22
55,898
$20.25/RSF
$94,327.88
$1,131,934.50
7/1/22‐6/30/23
55,898
$20.75/RSF
$96,656.96
$1,159,883.50
7/1/23‐12/31/23
55,898
$21.25/RSF
$98,986.04
$1,187,832.50
The above rates include: (a) additional rent in the form of “Operating Expense Component” equal
to the amount of Lessee’s share of operating expenses, and (b) applicable rental tax. Lessee shall
not be subject to any additional expense pass-through during the term of the Agreement or hold-
over period.
9. Lessee shall have a continuous right of first offer to lease any space not already encumbered by
another right contiguous and immediately adjacent to the then Premises (“Additional Premises”)
at any time during the term or any renewal term of the Agreement if, as and when Lessor receives
a bona fide offer to lease from a third party. The Lessor shall notify the Lessee in writing and
submit a copy of such offer to the Lessee and the Lessee shall have ten (10) business days to agree
to lease the Additional Premises on the same terms and condition of such offer, save and except
for the term which shall be co-terminus with the Lessee’s existing expiration date of the
Agreement in place at the time in which event Lessor may prorate the tenant allowance and any
other lease concessions set forth in the offer if the lease term set forth in the offer is greater than
the remaining term of this Lease.
10. Section 11 of the original Agreement is hereby deleted and replaced with the following:
Lessor hereby grants Lessee the option to renew this Agreement for one (1) five (5) year
option at ninety-five percent (95%) of the market rental value for competitive class office
buildings along Central Avenue core of Phoenix, Arizona. To exercise this option, Lessee
shall give Lessor written notice of its intent to renew at least ninety (90) days prior to the
expiration of this Agreement. In the event of expiration of this Agreement without renewal,
Lessor hereby grants to Lessee the right of continued occupancy of the Premises as “hold over
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Amendment No. 4
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tenant” on a “month to month” basis for up to six (6) months at the lease rate in effect for the
last month of the then current term of the Agreement.
11. Each of the following shall constitute a material breach of this Agreement, as amended, and an
event of default by Lessor (“Lessor Event of Default”) hereunder:
(a)
Lessor’s failure to Substantially Complete the Tenant Improvements by April 30, 2020.
(b)
Lessor’s failure to observe or perform any of the material covenants, conditions or
provisions of this Agreement, as amended, to be observed or performed by Lessor, other
than as described in Subsection 11(a), where such failure shall continue for a period of thirty
(30) days after Lessor receives written notice thereof from Lessee, or such additional period
of time thereafter as Lessor and Lessee may agree in writing and may be reasonably
necessary under the circumstances to cure such default if Lessor commences to cure such
default within said thirty (30) day period and thereafter diligently proceeds to cure such
default.
(c)
In the event Lessor fails to perform any of its material obligations under this Agreement, as
amended (beyond the expiration of all applicable notice and cure periods), Lessee may, at
its option, terminate this Agreement without penalty.
In the event Lessor is in default pursuant to Subsection 11(a) above, Lessee may, at its
option, terminate this Agreement as to the expansion Premises only without penalty. If
Lessee does not elect to terminate this Agreement, Lessee shall be entitled to an additional
month of free rent as to the expansion Premises only for each twenty (20) business days, or
portion thereof, which Lessor fails to Substantially Complete the Tenant Improvements. In
addition to free rent, Lessor shall be responsible to reimburse Lessee for any damages
incurred due to Lessor’s failure to complete the Tenant Improvements as required per this
Agreement, as amended.
Further, upon the occurrence of any Lessor Event of Default, Lessee may, but shall not be
required to, exercise any remedies now or hereafter available to Lessee at law or in equity.
12. Each of the following shall constitute a material breach of this Agreement, as amended, and an
event of default by Lessee (“County Event of Default”) hereunder:
(a) Lessee’s failure to pay any consideration or any other dollar amount under this Agreement,
as amended, when due, where such failure shall continue for a period of ten (10) business
days after Lessee receives written notice thereof from Lessor.
(b) Lessee assigning or subleasing the Premises without Lessor’s prior written consent.
(c) Lessee’s failure to observe or perform any of the material covenants, conditions or
provisions of this Agreement, as amended, to be observed or performed by Lessee, other
than as described in Subsection 12(a) and Section 12(b), where such failure shall continue
for a period of thirty (30) days after Lessee receives written notice thereof from Lessor,
or such additional period of time thereafter as Lessor and Lessee may agree in writing and
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may be reasonably necessary under the circumstances to cure such default if Lessee
commences to cure such default within said thirty (30) day period and thereafter diligently
proceeds to cure such default.
(d) Upon the occurrence of any County Event of Default and at any time thereafter, Lessor
may terminate this Agreement. Further, upon any occurrence of any County Event of
Default, Lessor may, but shall not be required to, exercise any remedies now or hereafter
available to Lessor at law or in equity.
13. In the event Lessor or Lessee resort to legal proceedings to enforce any right under this Agreement
or to obtain relief for any default by the other Party, the Party prevailing in such proceedings shall
be entitled to recover from the defaulting Party the costs thereof, including reasonable attorneys’
fees and costs.
14. Section 11 and Exhibit “A” of Amendment No. 1 are hereby deleted and replaced with the
following and Exhibit “C” attached hereto and made a part hereof:
Within forty-five (45) days of written request of the Lessor or any mortgagee or deed of trust
beneficiary of Lessor , Lessee will subordinate its rights, in writing in substantially the same
form as the attached Exhibit “C”, attached hereto and by this reference made a part hereof,
hereunder to the lien of any mortgage now or hereafter in force against the Property or any
portion thereof, and to all advances made or hereafter to be made upon the security thereof,
and to any ground or underlying lease of the Property provided, however, that in such case
the holder of such mortgage, or the Lessor under such Lease shall agree that this Agreement
shall not be divested or in any way affected by foreclosure, or other default proceedings under
said mortgage, obligation secured thereby, or Lease, so long as the Lessee shall not be in
default under the terms of this Agreement. Lessor agrees that this Agreement shall remain in
full force and effect notwithstanding any such default proceedings under said mortgage or
obligation secured thereby.
15. Section 12 and Exhibit “B” of Amendment No. 1 are hereby deleted and replaced with the
following and Exhibit “D” attached hereto and made a part hereof:
Within forty-five (45) days after written request from Lessor, Lessee shall execute and deliver
to Lessor or Lessor’s designee, a written statement in substantially the same form as Exhibit
“D,” which is attached hereto and made a part hereof, certifying: (a) that the Agreement is
unmodified and in full force and effect, or is in full force and effect as modified and stating
the modifications; (b) the amount of base consideration and the date to which the base
consideration and additional consideration have been paid in advance; (c) the amount of any
security deposited with Lessor; and (d) that Lessor is not in default hereunder or if Lessee is
claiming Lessor to be in default, stating the nature of any claimed default. Any such statement
may be relied upon by a purchaser, assignee, or lender.
16. Section 13 of Amendment No. 1 is hereby deleted and replaced with the following:
Since this Agreement will require administrative action, including execution of documents,
from time to time to carry out the intent of the Agreement, the Deputy County Manager for
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Maricopa County and the Real Estate Director for Maricopa County each are hereby given
the authority and charged with the responsibility for proper administration of this Agreement,
whether or not specific authority is granted in any provision of this Agreement
17. Lessee’s parking rights set forth in the Agreement are hereby modified as follows:
In addition to the current Ten (10) covered reserved parking spaces and Three Hundred Forty
(340) unreserved covered parking spaces at the building garage, Lessor shall provide Lessee with
and additional thirty-two (32) uncovered reserved spaces, for a total of three hundred seventy-
two (372) unreserved covered spaces and ten (10) reserved covered spaces, all free of charge. All
other parking rights set forth within the Agreement remain the same and in full force and effect.
18. All notices herein required shall be in writing and sent via certified mail with return-receipt
requested, overnight by a nationally recognized delivery service (e.g. Federal Express, UPS)
with confirmation receipt requested or hand delivered as follows:
LESSEE:
Maricopa County Real Estate
Attn: Director
2801 West Durango Street
Phoenix, AZ 85009
All rent requests, herein required given Lessee, shall be sent to:
Maricopa County Department of Public Health
Attn: Finance
4041 N Central Ave. Suite 1400
Phoenix, Arizona 85004
LESSOR:
4041 Central Plaza, LLC
C/o Younan Properties, Inc.
21900 Burbank Blvd., 2nd Floor
Woodland Hills, California 91367
Attn: Asset Manager
Any notice sent by certified mail, return receipt requested, shall be deemed given on the date shown
on the receipt card or, if no delivery date is shown, the postmark thereon, or the date delivery is
refused or unclaimed. Notices delivered overnight by a nationally recognized delivery service that
guarantee next day delivery shall be deemed given 24 hours after given to the courier. Either party
may, by written notice to the other, specify a different address for notice.
19. The foregoing paragraphs contain all the changes made by this Amendment No. 4. All other terms
and conditions of the Agreement remain the same and in full force and effect.
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IN WITNESS WHEREOF, the parties have signed this Amendment:
LESSOR:
LESSEE:
4041 Central Plaza, LLC,
Maricopa County,
a Delaware Limited Liability Company
a political subdivision of the State of Arizona
By:
____________________________________
____________________________________
Signature
Clint Hickman,
Chairman of the Board of Supervisors
____________________________________
Printed Name
____________________________________
ATTEST:
Title
Date
____________________________________
Clerk of the Board
Date
APPROVED as to FORM:
____________________________________
Deputy County Attorney
Date
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EXHIBIT “A”
PREMISES
4041 N. Central Avenue, Phoenix, AZ
Floor 6: 16,305 sf (Suite 1600)
Floor 7: 16,305 sf (Suite 1700)
Floor 8:
5,088 sf (Suites 840 & 850)
Floor 14: 16,024 sf (Suite 1400)
Bldg A, Ste 250: 2,176 sf
Total
55,898 sf
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EXHIBIT “B”
Tenant Improvements
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Exhibit “C”
SUBORDINATION, NON‐DISTURBANCE AND ATTORNMENT AGREEMENT
CERTIFICATE
for
LEASE AGREEMENT NO. L‐7381
THIS AGREEMENT (“SNDA”) is executed by and between (hereinafter referred to as Lender)
and Maricopa County, a political subdivision of the state of Arizona (hereinafter referred to as
Lessee or County),
WITNESSETH:
WHEREAS, Lessee has entered into a lease dated (hereinafter referred to as
“Agreement”) for certain premises located at , said premises more particularly described in
said Agreement, and
WHEREAS, Lender has made a loan to Lessor, , in the sum of $ secured by a
, Assignment of Rents and Security Agreement on the Lessor’s interest in the premises (the
“Security Agreement”) of which the leased premises are a portion, recorded in the official records
of the Maricopa County Recorder’s Office, and
WHEREAS, Lessee has agreed to the subordination of the Agreement to the Security
Agreement on the condition that it is assured of continued use and occupancy of the premises under
the terms of said Agreement and this SNDA, and
WHEREAS, Lender agrees to such continued use and occupancy by Lessee provided that by
these presents Lessee agrees to recognize and attorn to Lender or purchaser in the event of
foreclosure or otherwise.
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged,
it is hereby mutually covenanted and agreed as follows:
1. In the event it should become necessary to foreclose the Deed of Trust or Lender should
otherwise come into possession of the premises, Lender will not join Lessee under said
Agreement in summary or foreclosure proceedings and will not disturb the use and
occupancy of Lessee under said Agreement so long as Lessee is not in default under any of
the terms, covenants, or conditions of said Agreement; and has not prepaid the rent except
monthly in advance as provided by the terms of said Agreement.
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2. Lessee agrees that in the event any proceedings are brought for the foreclosure of any such
Deed of Trust it will attorn to the purchaser of such foreclosure sale and recognize such
purchaser as the Lessor under said Agreement. Said purchaser, by virtue of such foreclosure
to be deemed to have assumed and agreed to be bound, as “Substitute Lessor”, by the terms
and conditions of said Agreement until the resale or other disposition of its interest by such
purchaser, except that such assumption shall not be deemed of itself an acknowledgement
of such purchaser of the validity of any then existing claims of Lessee against the prior lessor.
All rights and obligations herein and hereunder to continue as though such foreclosure
proceedings had not been brought, except as aforesaid. Lessee agrees to execute and
deliver to any such purchaser such further assurance and other documents, confirming the
foregoing as such purchaser may reasonably request. Lessee waives the provisions of any
statute or rule of law now or hereafter in effect which may give or purport to give it any right
or election to terminate, except as expressly provided for in said Agreement, or otherwise
adversely affect the said Agreement and the obligations of Lessee thereunder by reason of
any such foreclosure proceeding. Accordingly, from and after such event “Substitute Lessor”
and Lessee shall have the same remedies against each other for the breach of an agreement
contained in the Agreement as Lessee and Lessor had before “Substitute Lessor” succeeded
to the interest of the Lessor; provided however, that “Substitute Lessor” shall not be;
a. liable for any act or omission of any prior lessor (including Lessor); or
b. subject to any offsets or defenses that Lessee might have against any prior lessor
(including Lessor); or
c. bound by any rent or additional rent that Lessee might have paid for more than one
month in advance to any prior lessor (including Lessor); or
d. liable for the return of any security deposit.
3. The provisions of this SNDA are binding upon and shall inure to the benefit of the heirs,
successors and assigns of the parties hereto.
4. The execution of this document is expressly authorized by the Maricopa County in Section(s)
14 and 16 of Amendment No. 4 of the Agreement.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
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IN WITNESS WHEREOF this SNDA is effective the day and year first written below.
LESSEE: Maricopa County, a political subdivision of the state of Arizona
______________________________________________
By: [Name]
Date
Director, Maricopa County Real Estate Department
APPROVED as to FORM:
_______________________________________________
Deputy County Attorney
Date
The terms of the above SNDA are hereby consented and agreed to by Owner/Lessor:
LESSOR: [Name]
____________________________________
[Name], [Title]
Date
LENDER: [Name]
____________________________________
[Name], [Title]
Date
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Exhibit “D”
TENANT ESTOPPEL CERTIFICATE
for
LEASE AGREEMENT NO. L‐7381
THE PURPOSE of this certificate is to confirm the current status of matters relating to the Agreement
described below. This Estoppel Certificate is for the benefit of the Lessor and , its successors
and/or assigns (hereinafter “Lender”) and for no other person or entity.
1. Maricopa County, a political subdivision of the state of Arizona, is the Lessee or Tenant
under a lease agreement (hereinafter the “Agreement”) with, as Lessor dated
, 20 covering the premises described as: a lease located at . The
Premises are more fully described in the attached fully executed copy of the Agreement
(and all amendments or modification thereto, if any) and Exhibit “ ” of said
Agreement. Other than as set forth above, there are no other modifications or
amendments to the Agreement.
2. The Premises have been accepted by the Lessee; and the Lessee now occupies the
Premises pursuant to the lease terms. The commencement date for the term of the
Agreement is , 20 .
3. The Agreement will expire unless terminated earlier as provided for in the
Agreement and is subject to an option to renew and the right to holdover.
4. Lessor has completed all tenant improvement work, if any, as required under the terms of
the Agreement.
5. Lessee claims that the Lessor has not performed the following Lessor’s obligations as
directed by the Agreement: .
6. The current fixed consideration for the Premises is $ per month plus rental tax.
Lessee has paid the current month’s consideration in full. There are no other rents or other
charges under the Agreement which are due and unpaid at this time. Considerations are
fully paid (if required by the Agreement) through the last day of the month in which this
Estoppel Certificate has been executed.
7. The Lessee has made no security deposit.
8. Except for rents (if any) which may be due under the Agreement for the current month,
there are no rents, offsets or credits against future accruing rents, or other charges which
have been prepaid to the Lessor under the Agreement.
9. Lessee has no right or option to purchase any portion of the real property upon which the
Premises are situated.
Lease No. L-7381
Amendment No. 4
C-86-06-044-4-06
Page 16 of 16
10. Lessee has received no notice of a prior sale, transfer, assignment, hypothecation or
pledge of said Agreement or of the rents secured therein, except to Lender.
11. Lessee acknowledges that this Estoppel Certificate and the statements herein may be
conclusively relied upon by the Lessor and other person(s) or entity (ies) named above in
the first paragraph.
12. This agreement shall be binding upon and inure to the benefit of the Lessor, and any other
person(s) or entity (ies) named above in the first paragraph.
13. The execution of this document is expressly authorized by the Maricopa County in
Section(s) 15 and 16 of Amendment No. 4 to the Agreement.
14. The Lessee understands and acknowledges that Lender will rely on this Estoppel Certificate
in acquiring or making a mortgage loan to Lessor and that in connection with said loan,
Lessor’s interest in the Agreement is being assigned to Lender as additional security for
the loan.
Executed this ______ day of _____________________, 20____.
Lessee: Maricopa County
__________________________________
By: [Name]
Director, Maricopa County Real Estate Department
APPROVED as to FORM:
_______________________________________________
Deputy County Attorney
Date