FIRST AMENDMENT TO LEASE WITH ARIZONA BOARD OF REGENTS UA.PDF
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Lease No. L7477 C-88-19-011-1-01 FIRST AMENDMENT TO FARM LEASE RECITALS A. Arizona Board of Regents, for and on behalf of the University of Arizona (Lessor), and Maricopa County, a political subdivision of the State of Arizona (Lessee), individually a “Party” or collectively the “Parties,” are Parties to that certain Farm Lease dated June 26, 2019 (Agreement). The Agreement is for Lessee’s Permitted Uses of the Property located at 37860 W. Smith-Enke Road, Maricopa, Arizona. B. The term of the Agreement expires May 31, 2024. C. Lessor and Lessee now mutually desire to enter into this First Amendment to the Agreement (Amendment) to: (a) extend term; (b) modify rent; (c) provide counterparts and electronic signatures; and (d) update administrative language. 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 the Agreement as follows: 1. The Recitals, by this reference, are hereby incorporated in 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. Section 2 of the Agreement is amended to extend the Term for an additional 5-year period commencing June 1, 2024 through May 31, 2029 (Extension). 4. Effective June 1, 2024, Section 3 of the Agreement is deleted in its entirety and replaced with the following: 3. Rent. Lessee will pay costs for all farm operations which includes equipment, labor, supplies, and irrigation (Rent) in the annual amount of six thousand ($6,000) dollars. Rent shall be subject to annual increases of 3% on June 1st of each year of the Extension, beginning June 1, 2025. Lessor shall provide Lessee an invoice and Lessee shall pay Lessor’s invoice within thirty (30) days of receipt. Failure to pay Rent shall constitute a default by Lessee, as defined in Section 11.1, subject to all legal remedies of the Lessor. In the event either Party terminates this Agreement during the Extension hereof, provided Lessee is not in default, the Rent payment heretofore made by Lessee shall be prorated on the number of days remaining in the final quarter of occupancy. Lessor shall refund the prorated amount to Lessee within 30 days after termination. 5. Section 35 of the Agreement is deleted in its entirety and replaced with the following: 35. Delegation of Authority. The Assistant County Manager for Maricopa County, Maricopa County Environmental Services Department Director, and/or the Maricopa County Real Estate Director shall administer this Agreement, including the execution of documents. License No. L7477 C-88-19-011-1-01 6. The Agreement is hereby amended to include an additional section as follows: 37. Counterparts and Electronic Signatures. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Electronic signatures shall have the same force and effect as original signatures. 7. The Agreement is subject to cancellation pursuant to the provisions of A.R.S. § 38-511. 8. The foregoing paragraphs contain all the changes made by this Amendment. All other terms and conditions of the Agreement remain the same and in full force and effect. THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK License No. L7477 C-88-19-011-1-01 IN WITNESS WHEREOF, the Agreement is made and entered into as of the last date written below. LESSOR: Arizona Board of Regents for and on behalf of the University of Arizona By: Bruce M. Vaughn, Director, Real Estate Planning, Design & Construction Date: License No. L7477 C-88-19-011-1-01 LESSEE: Maricopa County, a political subdivision of the State of Arizona ____________________________________ Chairman of the Board of Supervisors ATTEST: ____________________________________ Clerk of the Board Date APPROVED as to FORM: ____________________________________ Deputy County Attorney Date