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When recorded, Interoffice Mail to:
Maricopa County Real Estate Department
Attn: Infrastructure Property Management [DMB]
EXEMPT ARS § 11-1134, A2
MEMORANDUM OF LEASE
Project: Indian Bend Outlet
Lease Number: 2020-04
Item: Memorandum of Lease
FCD Parcel Number: N-2617
This MEMORANDUM OF LEASE (“Memorandum”) is being filed of record by the Flood Control
District of Maricopa County, a political subdivision of the State of Arizona (“Lessor”) and PS Mountain
West, LLC, a Delaware limited liability company authorized to do business in Arizona, doing business as
Public Storage (“Lessee”).
RECITALS
A. Lessor and Lessee initially entered into an unrecorded Advertising Site Agreement (Original
Agreement) on October 31, 1984; and
B. Lessor and Lessee entered into a new Advertising Site Agreement on August 28, 1995; and
C. Lessor and Lessee entered into a new Advertising Site Agreement on June 16, 2005; and
D. Lessor and Lessee entered into a new Advertising Site Agreement on March 30, 2010; and
E. Lessor and Lessee entered into a new Advertising Site Agreement on May 27, 2015; and
F. Lessor and Lessee have entered into a new lease (New Lease), County agenda number C-78-21-
074X-00, for Lessee’s use of that certain real property described on the attached Exhibit “A”
(Premises), attached hereto and made a part hereof, and are executing this Memorandum to
provide constructive notice of Lessor’s and Lessee’s rights under the New Lease to all third
parties.
G. Now therefore, the parties hereby state that Lessor and Lessee have agreed as follows:
Page 1 of 6
TERMS
. Term. Effective April 1, 2020, Lessor has leased the Premises to Lessee for a term of
five (5) years ending on March 31, 2025. Lessee has the option to extend the New Lease
for one (1) additional five (5) year term (“Renewal Term”), exercisable by notice within
120 days of the expiration of the preceding term.
Conditions. Lessce’s use of the Premises is subject to the terms and conditions of the
New Lease, which is on file in the office of the Maricopa County Clerk of the Board.
. Assignment. Lessee’s rights and obligations under the New Lease shall not be assigned
without Lessor’s Prior written consent, which shall not be unreasonably withheld
provided that certain requirements are met in accordance with the New Lease.
Successors and Assigns. This Memorandum and the New Lease bind and inure to the
benefit of the Lessor and Lessee and their respective heirs, successors and assigns.
Counterparts. This Memorandum may be executed in multiple counterparts, each of
which when executed and delivered, shall be deemed an original and all of which, when
taken together, shall constitute one and the same document.
- Governing Law. This Memorandum and the New Lease are governed by Arizona law.
- Conflict of Interest. The New Lease is subject to A.R.S. § 38-511, the provisions of
which are incorporated herein by this reference and may be canceled by Lessor pursuant
thereto without any penalty or liability to Lessor.
[Remainder of page intentionally left blank; Signature page(s) to follow]
Page 2 of 6
LESSOR:
FLOOD CONTROL DISTRICT OF MARICOPA COUNTY, a political subdivision of the State of
Arizona
RECOMMENDED BY:
Se dy 18 102 |
Michael A Fulton, Director | Date
APPROVED BY:
Jack Sellers, Chairman of the Board Date
ATTEST:
Clerk of the Board Date
APPROVED AS TO FORM and within the powers and authority granted under the laws of the
State of Arizona and Maricopa County
SIGNED IN COUNTERPART
Flood Control District General Counsel Date
LESSEE:
PS MOUNTAIN WEST, LLC, a Delaware Limited Liability Company
By: Public Storage, a Maryland real estate investment trust
Its: Sole Managing Member
Ah. 7/21 [2001
Sharon Linder, Vice President 7 Date
Page 3 of 6
LESSOR:
FLOOD CONTROL DISTRICT OF MARICOPA COUNTY, a political subdivision of the State of
Arizona
RECOMMENDED BY:
SIGNED IN COUNTERPART
Michael A Fulton, Director Date
APPROVED BY:
SIGNED IN COUNTERPART
Jack Sellers, Chairman of the Board Date
ATTEST:
SIGNED IN COUNTERPART
Clerk of the Board Date
APPROVED AS TO FORM and within the powers and authority granted under the laws of the
State of Arizona and Maricopa County
Flood Control District General Counsel Date July 12, 2021
LESSEE:
PS MOUNTAIN WEST, LLC, a Delaware Limited Liability Company
By: Public Storage, a Maryland real estate investment trust
Its: Sole Managing Member
SIGNED IN COUNTERPART
Sharon Linder, Vice President Date
Page 3 of 6
EXHIBIT “A”
PCN-344.05.039
Project No. TRO77
INDIAN BEND WASH OUTLET
Item No. N-2617-LSE
LEGAL DESCRIPTION FOR LEASE AGREEMENT
Two parcels of land in the Northeast Quarter of the Northeast Quarter of Section Eleven, Township
One North, Range Four East of the Gila and Salt River Base and Meridian, and being more particularly
described as follows:
Parcel 1
Commencing at the Northeast Quarter corner of said Section 11, being a brass cap in a handhole, from
which the North quarter corner of said Section 11, a brass cap in a handhole, bears South 89°50'55"
West, for a distance of 2638.95 feet;
thence along the North line of said Section 11 South 89°50'55" West, for a distance of 433.51 feet;
thence departing said North line South 00°09'05" East, for a distance of 55.00 feet to the Point of
Beginning;
thence continuing South 00°09'05" East, for a distance of 38.00 feet to a point on a line parallel with
and 93.00 feet southerly of the North line of said North quarter corner;
thence along said parallel line South 89°50'55" West, for a distance of 20.00 feet;
thence departing said parallel line North 00°09'05" West, for a distance of 38.00 feet to a point ona
line parallel with and 55.00 feet southerly of the North line of said North quarter corner;
thence along said parallel line North 89°50'55" East, for a distance of 20.00 feet to the Point of
Beginning.
The above described parcel contains 760 square feet or 0.0174 acres, more or less.
Parcel 2
Commencing at the Northeast Quarter corner of said Section 11, being a brass cap in a handhole, from
which the North quarter corner of said Section 11, a brass cap in a handhole, bears South 89°50'55"
West, for a distance of 2638.95 feet;
thence along the North line of said Section 11 South 89°50'55" West, for a distance of 643,80 feet;
thence departing said North line South 00°09'05" East, for a distance of 55.00 feet to the Point of
Beginning;
thence continuing South 00°09'05" East, for a distance of 38.00 feet to a point on a line parallel with
and 55,00 feet southerly of the North line of said North quarter corner;
Continued on next page
GRANTOR DATE.
Page 1 of 2
EXHIBIT “A”
Page 4 of 6
EXHIBIT “A” Continued
thence along said parallel line South 89°50'55" West, for a distance of 20.00 feet;
thence departing said parallel line North 00°09'05" West, for a distance of 38.00 feet to a point ona
line parallel with and 55.00 feet southerly of the North line of said North quarter corner;
thence along said parallel line North 89°50'55" East, for a distance of 20.00 feet to the Point of
Beginning.
The above described parcel contains 760 square feet or 0.0174 acres, more or less
The combined two above described parcels contain 1,520 square feet or 0.0348 acres more or less. -
FLOOD CONTROL DISTRICT OF MARICOPA COUNTY
Prelim: LV 03/31/2020 _| Chk: [Appr: py (1-04-2020
Rev: j
Maricopa County Real Estate Department
GRANTOR. DATE
EXHIBIT “A”
Page 2 of 2
Page 5 of 6
EXHIBIT “A” Continued
Not to Scale
Parcel 2 Parcel 1
DETAIL 2 DETAIL 1
NE COR. SEC. 11
N4 COR. SEC. 11 TIN, R4E
TIN, R4E ;
| McKellips Road PoC.
2638.95" S89°50' 55"W id u
Parcel 2 ol wl Parcel 1 SEC LINE
See Detail 2™y ay a! See Detail 41
it {itl
— NL
132-08-011 132-08-012 o
6
Bl sg
a; £
ol O
{ PARCEL 2 PARCEL 1 a] <
NO.[ BEARING [LENGTH] [NO.[_ BEARING | LENGTH =
L7_|'$ 89°60'55"W | 643.80" Li [Ss 89°50'55" W | 433.51"
ts _[Soorog0s"e | 38.00" 12 | s$00°0g0s"E | 55.00"
Lo | S89°so'ss"W | 20.00' L3 | s oo°0g'05" E 38,00!
L10 | No0*09'05"W | 38.00" 4 [seo5o55"w | 20.00"
Lit [| N89°5055"E | 20.00 C5 [Noo°og0s"W | 38,00"
L6_[N 89°50'55" E 20.00"
RIW AGENT M.C.
Total Req'd. Area: 1,520 square feet or 0.0348 acres
MARICOPA COUNTY
PCN-344.05.039, INDIAN BEND WASH OUTLET
PROJECT No. TROT? | TTEMNo.N-26H7-18= | DATE 04/20/2020 | maRicoPacounTy |
Page 6 of 6
Parcel 1 Area: 760 square feet or 0,0174 acres
Parcel 2 Area: 760 square feet or 0.0174 acres