AMENDMENT 2 TO LEASE L-7466 RE VEDRES FAMILY INVESTMENT PARTNERSHIP, LP.PDF

LEASE No. L-7466 
 
 
 
 
 
 
 
AMENDMENT No.  2  
C-86-17-001-3-02 
 
 
 
 
 
AMENDMENT No. 2 TO LEASE AGREEMENT 
BETWEEN 
VEDRES FAMILY INVESTMENT PARTNERSHIP, LP, LESSOR 
AND 
MARICOPA COUNTY,  LESSEE  
 
 
RECITALS 
 
 
A. 
Lessor, Vedres Family Investment Partnership, LP, a California limited partnership, and 
Lessee, Maricopa County, a political subdivision of the State of Arizona. are parties to that 
certain Lease Agreement No. L-7466 dated August 12, 2016 and ratified July 31, 2017, and 
subsequently amended on December 12, 2018 (collectively, “Agreement”) . The Agreement is 
for 4,243 rentable square feet of clinic and office space located at 2737 W. Southern Avenue, 
Suite #10, Tempe, AZ, 85282 (“Premises”). 
 
B. 
The current term of the Agreement expires on September 30, 2021. 
 
C. 
Lessor and Lessee now mutually desire to enter into this Amendment No. 2 to the Agreement 
(“Amendment”) to amend the Agreement to extend the term, adjust the rent, provide for 
administration of Agreement authority and provide for removal of monument signage.  
 
 
AGREEMENT 
 
 
NOW THEREFORE, in consideration of the foregoing and other good and valuable 
consideration, receipt and sufficiency of which is hereby acknowledged, the the Parties agree to 
amend the Agreement as follows:  
 
1. 
The Recitals, by this reference, are hereby incorporated into 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. 
The term of the Agreement is hereby renewed as provided for in the  Agreement at Paragraph 
2.3 for the term of five (5) years, to commence on October 1, 2021 and expire September 30, 
2026. The Agreement, as amended, is subject to termination pursuant to the provisions of 
A.R.S. § 38-511. This Agreement may be terminated by Lessee at the end of any fiscal year due 
to non-appropriation of funds without any penalty or liability to Lessee. County and state fiscal 
years end June 30, Federal fiscal year ends September 30.

LEASE No. L-7466 
 
 
 
 
 
 
 
AMENDMENT No.  2  
C-86-17-001-3-02 
 
 
 
 
4. 
 Lessee agrees to pay as rent, in equal monthly installments, the sums as follows: 
 
Lease Term    
 Rate  
 
Monthly 
 Annual 
 
  
       
Months    1-12  
$/s.f.   $13.99   
$4,946.63        $59,359.57 
plus rental tax 
        
Months   13-24 
$/s.f.   $14.27   
$5,045.63 
$60,547.56 
plus rental tax 
     
Months   25-36 
$/s.f.   $14.56   
$5,148.17 
$61,778.04 
plus rental tax 
 
Months   37-48 
$/s.f.   $14.84   
$5,247.18    
$62,966.16 
plus rental tax 
 
Months   49-60 
$/s.f    $15.14   
$5,353.25   
$64,239.00 
plus rental tax 
 
The above rate includes all applicable real estate taxes and operating expenses. 
 
5. 
Section 16.14 of the Agreement is hereby deleted in its entirety and replaced with the 
following:  
 
Administration of Agreement. The Assistant County Manager for Maricopa County, and/or 
the Real Estate Director for Maricopa County shall administer this Agreement. 
 
6. 
The parties acknowledge that  Lessee has satisfied the payment obligations for the monument 
signage in the last sentence of Section 16.19 of the Agreement and accordingly no further 
payment for the monument signage will be due. Additionally, Landlord agrees to remove said 
monument signage no later than September 30, 2021 at Landlord’s sole cost and expense as the 
Lessee no longer needs the monument signage as specified.    
 
7. 
The foregoing paragraphs contain all the changes made by this Amendment.  All other terms 
and conditions of the Agreement, as amended, remain the same and in full force and effect.,  
 
 
 
 
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

LEASE No. L-7466 
 
 
 
 
 
 
 
AMENDMENT No.  2  
C-86-17-001-3-02 
 
 
 
 
IN WITNESS WHEREOF, the Parties have fully executed this Amendment as of the last date written 
below. 
 
 
LESSOR: 
 
 
 
 
 
 
Vedres Family Investment Partnership, LP  
 
 
    BY:  VF Management, Inc. 
    Its:    Managing Partner 
 
__________________________________ 
Frank Vedres, President 
VF Management, Inc., GP 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LESSEE: 
Maricopa County, a political subdivision of the state of Arizona 
 
 
 
 
 
 
 
 
 
________________________________________ 
Jack Sellers, 
Chairman, Board of Supervisors 
 
ATTEST: 
 
 
 
 
 
 
 
 
 
 
_______________________________________ 
Clerk of the Board 
 
 
Date 
 
 
APPROVED AS TO FORM: 
 
 
_______________________________________ 
 
Deputy County Attorney          
Date