C_PROMISSORY NOTE – MARICOPA COUNTY LINE OF CREDIT (COUNTY) - 2026.PDF

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4907-9527-3879.4  
THIS NOTE IS IN FULLY REGISTERED FORM AND IS NOT TRANSFERABLE 
EXCEPT ON THE REGISTRATION BOOKS OF BORROWER 
MARICOPA COUNTY REVOLVING LINE OF CREDIT 
PROMISSORY NOTE 
JPMorgan Chase Bank, N.A. 
150 W University Drive, 3rd Floor   
Tempe, Arizona 85281-3640 
Date: July 1, 2026 
Principal Amount: Commitment Amount Cap (as defined in and subject to adjustment from time 
to time in accordance with the hereinafter defined Loan Agreement). 
1.
PROMISE TO PAY PRINCIPAL AND INTEREST. For value received, the 
undersigned, MARICOPA COUNTY, ARIZONA (“Borrower”), ACTING THROUGH THE 
MARICOPA COUNTY TREASURER AS ITS AGENT, promises to pay to or on the order of 
JPMORGAN CHASE BANK, N.A., or registered assigns (“Bank”) at its above office, or at such 
other place as Bank may designate in writing, in lawful money of the United States of America, 
the principal sum equal to the Commitment Amount Cap, or, if different, the unpaid amount 
disbursed by Bank by making Advances (as such term is defined in the Business Loan Agreement 
(Maricopa County Revolving Line of Credit), dated of even date herewith (the “Loan  
Agreement”), between Borrower and Bank, as it may be amended, modified, extended, renewed, 
restated, or supplemented from time to time), as shown on the records of Bank which, when in 
agreement with the records of Borrower, shall (absent manifest error) be conclusive as to such 
unpaid amount, with interest thereon from the date advanced at the Interest Rate (as hereinafter 
defined).   
2.
INTEREST RATE. The Interest Rate (the “Interest Rate”) during each calendar 
quarter shall be the rate per annum equal to the rate per annum most recently publicly announced 
by Bank, or Bank’s successors, in Phoenix, Arizona, as Bank’s “prime rate”, as in effect from time 
to time, provided that in no event shall the Interest Rate at any time exceed one hundred ten percent 
(110%) of the previous quarter’s weighted average prime rate among the top three financial 
institutions by asset size in the State of Arizona.  The Interest Rate will be redetermined by Bank 
on each day that the “prime rate” changes and any changes in the Interest Rate will be effective on 
and after the date of such change and until the next change.  The “prime rate” is set by Bank based 
on various factors, including Bank’s costs and desired return, general economic conditions and 
other factors, and is used as a reference point in pricing some loans.  Bank may price loans to its 
customers at, above, or below its “prime rate.”  Notwithstanding the foregoing, in no event shall 
the Interest Rate at any time be less than zero percent (0.00%). 
3.
REQUIRED PAYMENTS; PAYMENT ON MATURITY. Prior to June 30, 2027, 
or if the Scheduled Commitment Expiration Date under the Loan Agreement has been extended 
by mutual agreement between Borrower, acting through its agent, the Maricopa County Treasurer, 
and Bank (acting in its sole and absolute discretion), such Scheduled Commitment Expiration Date

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(the “Maturity Date”), payments under this Note shall be made as Borrower receives “nonrestricted 
operating revenues”, as such term is used in the Act. On the Maturity Date, Borrower shall pay to 
Bank the unpaid principal, all accrued and unpaid interest, and all other amounts (“Other 
Amounts”) payable by Borrower to Bank under the Loan Documents (as defined in the Loan 
Agreement).  
4.
INTEREST ON PRINCIPAL; DEFAULT RATE. Principal shall bear interest at 
the Interest Rate from the date of disbursement until the due date thereof, whether by acceleration 
or otherwise. Principal, interest, and Other Amounts not paid when due and any judgment therefor 
shall bear interest from its due date or the judgment date, as applicable, until paid at a rate (the 
“Default Rate”) per annum equal to one hundred ten percent (110.00%) of the previous quarter’s 
weighted average prime rate among the top three financial institutions by asset size in the State of 
Arizona (unless a lower maximum rate of interest is then applicable under the Act, in which case, 
the Default Rate shall be such lower rate of interest under the Act), and such interest shall be 
immediately due and payable. 
5.
INTEREST ACCRUAL. All interest under the Loan Documents shall be computed 
on the basis of a 365-day year and accrue on a daily basis for the actual number of days elapsed. 
Borrower agrees to pay an effective rate of interest that is the sum of (i) the Interest Rate and (ii) 
any additional rate of interest resulting from any other charges or fees paid or to be paid in 
connection herewith that are determined to be interest or in the nature of interest. 
6.
PAYMENT IN FULL PRIOR TO THE MATURITY DATE. Notwithstanding any 
other provision herein or in the Loan Documents, Borrower shall pay to Bank all outstanding 
principal, interest and Other Amounts on June 30 of each year. So long as Borrower makes such 
payment, Borrower shall, subject to the provisions of the Loan Agreement, continue to be entitled 
to Advances pursuant to the Loan Agreement prior to the commitment expiration date specified 
therein. Principal, interest, and Other Amounts not paid on June 30 of each year shall bear interest 
from June 30 until paid at the Default Rate, and such interest shall be immediately due and payable. 
7.
APPLICATION OF PAYMENTS. At the option of Bank, payments shall be 
applied to principal, interest, and Other Amounts in such order as Bank shall determine. 
8.
PREPAYMENT. Borrower may prepay the outstanding principal balance hereof, 
in whole or in part, at any time prior to the Maturity Date without penalty or premium. 
9.
NO COUNTERCLAIMS, DEDUCTIONS, ETC. All payments and other 
obligations of Borrower under the Loan Documents will be made and performed without 
counterclaim, deduction, defense, deferment, reduction, or set-off. 
10.
EVENTS OF DEFAULT. Each of the following shall be an event of default (“Event 
of Default”): 
(a)
Failure by Borrower to pay when due (i) any amount payable by Borrower 
under any of the Loan Documents, or (ii) any other indebtedness of Borrower to Bank.

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(b)
Failure by Borrower to perform any material obligation not involving the 
payment of money, or to comply with any other term or condition applicable to Borrower, 
in any of the Loan Documents. 
(c)
Any representation or warranty made by Borrower in any of the Loan 
Documents or otherwise or any information delivered by Borrower to Bank in obtaining or 
hereafter in connection with the credit evidenced by this Note is or becomes materially 
incomplete, incorrect, or misleading from the representations or warranties made as of the 
date of this Note or as of the date made or delivered. 
(d)
The occurrence of any change or other event that Bank determines has or 
will materially and adversely affect (i) any or all property, interests in property, or rights 
to property securing the obligations of Borrower under the Loan Documents, including 
without limitation the security interest in the nonrestricted operating revenues received by 
the Maricopa County Treasurer on behalf of Borrower (collectively, the “Collateral”) as 
security for the obligations of Borrower under the Loan Documents, (ii) the financial 
condition of Borrower, or (iii) the ability of Borrower to pay the monetary obligations of 
Borrower under the Loan Documents. 
(e)
Borrower (i) is unable or admits in writing Borrower’s inability to pay 
Borrower’s monetary obligations as they become due, (ii) is generally not paying its debts 
as they become due, (iii) makes a general assignment for the benefit of creditors, or (iv) 
applies for, consents to, or acquiesces in, appointment of a trustee, receiver, or other 
custodian for Borrower or any or all of the property of Borrower, or in the absence of such 
application, consent, or acquiescence by Borrower a trustee, receiver, or other custodian is 
appointed for Borrower or any or all of the property of Borrower. 
(f)
Commencement of any case under the Bankruptcy Code (Title 9 of the 
United States Code) or commencement of any other bankruptcy, arrangement, 
reorganization, receivership, custodianship, or similar proceeding under any federal or state 
law by or against Borrower. 
(g)
Attachment, garnishment, levy of execution, or seizure by legal process of 
any or all Collateral of Borrower, except any pre-judgment attachment or garnishment of 
any or all Collateral. 
(h)
Any legal proceeding or other action against or affecting any or all 
Collateral of Borrower is commenced (including, without limitation, any prejudgment 
attachment or garnishment) and is not quashed, stayed, or released within twenty (20) days. 
(i)
Any Collateral of Borrower is sold, disposed of, or otherwise transferred by 
Borrower after the date of this Note, not in the ordinary course of operations of Borrower. 
(j)
Any Collateral of Borrower becomes subject to any lien or security interest, 
other than the security interest granted to Bank in this Note.

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(k)
Any Collateral of Borrower is lost, stolen, suffers substantial damage or 
destruction, or is used in violation of any law, ordinance, regulation, or rule (federal, state, 
or local). 
(l)
Borrower abandons or, except for expenditure of funds included in the 
Collateral in the ordinary operations of Borrower, ceases to have exclusive possession of 
any Collateral or any books and records of Borrower relating to the Collateral. 
(m)
Borrower or any other person on behalf of Borrower claims that any Loan 
Document is not legal, valid, binding, and enforceable against Borrower, that any lien, 
security interest, or other encumbrance securing any of the obligations under the Loan 
Documents is not legal, valid, binding, and enforceable, or that the priority of any lien, 
security interest, or other encumbrance securing any of the obligations in the Loan 
Documents is different than the priority set forth in the Act (except as such priority may be 
affected by the laws regarding garnishment of wages of Borrower’s employees and federal 
and state tax liens for withholding taxes of Borrower’s employees). 
(n)
The occurrence of any condition or event that is a default or is designated 
as a default, an event of default, or an Event of Default in any other Loan Document or in 
any agreement, document, or instrument relating to any other indebtedness of Borrower to 
Bank. 
(o)
The occurrence of any condition or event that is designated as a default or 
an event of default and the expiration of any cure period with respect to any other 
indebtedness of Borrower to any other person. 
(p)
The failure of Borrower to repay to Bank within five (5) Business Days of 
written notice from Bank to Borrower the amount by which the outstanding amount of 
Advances exceeds the Commitment. 
11.
RIGHTS AND REMEDIES OF BANK. Upon occurrence of an Event of Default, 
Bank may, at its option, in its absolute and sole discretion, and without demand or notice, (i) 
declare the obligations in the Loan Documents to be immediately due and payable, whereupon the 
obligations in the Loan Documents shall be immediately due and payable, and (ii) exercise any or 
all other rights and remedies of Bank concurrently or consecutively in such order as Bank elects. 
The rights and remedies of Bank shall be cumulative and non-exclusive. Delay, discontinuance, or 
failure to exercise any right or remedy of Bank shall not be a waiver thereof, or of any other right 
or remedy of Bank, or of the time, of the essence provision. Exercise of any right or remedy of 
Bank shall not cure or waive any Event of Default or invalidate any act done in response to any 
Event of Default. 
12.
LIMIT OF LIABILITY OF BANK. In exercising rights and remedies, neither Bank 
nor any affiliate thereof or any stockholder, director, officer, employee, agent, or representative of 
Bank or any affiliate thereof shall have any liability for any injury to the assets, business, 
operations, or property of Borrower or any other liability to Borrower, other than for its own gross 
negligence or willful misconduct.

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13.
PROVISIONS IN LOAN AGREEMENT GOVERN THIS AGREEMENT. This 
Note is subject to certain terms and provisions in the Loan Agreement, to which reference is made 
for a statement of such terms and provisions. 
14.
WAIVERS BY BORROWER. Borrower (i) waives, to the full extent permitted by 
law, presentment, notice of dishonor, protest, notice of protest, notice of intent to accelerate, notice 
of acceleration, and all other notices or demands of any kind (except notices specifically provided 
for in the Loan Documents), and (ii) agrees that Bank may enforce this Note and any other Loan 
Documents against Borrower without first having sought enforcement against any Collateral. 
15.
JURY WAIVER.  TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, 
BORROWER AND BANK HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY 
AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN 
RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT OR 
OTHERWISE) BETWEEN BORROWER AND BANK ARISING OUT OF OR IN ANY WAY 
RELATED TO THIS NOTE. THIS PROVISION IS A MATERIAL INDUCEMENT TO BANK 
TO PROVIDE THE FINANCING DESCRIBED HEREIN. 
16.
WAIVER OF SPECIAL DAMAGES. BORROWER WAIVES, TO THE 
MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT BORROWER MAY HAVE 
TO CLAIM OR RECOVER FROM BANK IN ANY LEGAL ACTION OR PROCEEDING ANY 
SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. 
[SIGNATURE PAGE FOLLOWS]

[Signature Page to Maricopa County Revolving Line of Credit Promissory Note]  
DATED as of the date first above stated.  
MARICOPA COUNTY, ARIZONA 
By:  
Name:  Kate Brophy McGee 
 Title:   Chair, Board of Supervisors 
ATTEST: 
By:  
Name: Juanita Garza 
Title:   Clerk of the Board 
MARICOPA COUNTY TREASURER, 
As Agent for Maricopa County 
By:  
Name: John M. Allen 
Title:   Maricopa County Treasurer 
Approved as to form: 
By:  
Name: Kim Miles 
Title:   Deputy County Attorney