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RESOLUTION NO. 5952 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHANDLER, ARIZONA, APPROVING THE FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT BETWEEN LINCOLN PROPERTY COMPANY COMMERCIAL, LLC, AND ITS PERMITTED ASSIGNS, (“SUCCESSOR DEVELOPER”) AND THE CITY OF CHANDLER (“CITY”) FOR THE DEVELOPMENT OF PROPERTY GENERALLY LOCATED AT THE NORTHWEST CORNER OF FRYE ROAD AND ELLIS STREET. WHEREAS, on or about September 9, 2024, City and CPUS West Frye Road, LP (“Original Developer”) entered into that certain development agreement (the “Development Agreement”) to develop an existing data center, data center expansion, equipment yards, and other items generally located at 2500 West Frye Road (the northwest corner of Frye Road and Ellis Street) as legally described in Exhibit “A” attached to the Development Agreement (the “Property”); and WHEREAS, Successor Developer has entered into an escrow agreement with Original Developer to purchase the Property; and WHEREAS, the City and Successor Developer wish to enter into the First Amendment to the Development Agreement, in accordance with A.R.S. §9-500.05, to reflect the change of ownership and to address certain matters related to the development of the Property. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chandler, Arizona, as follows: Section 1. Approves the City of Chandler entering into the First Amendment to the Development Agreement with Successor Developer and its permitted assigns in substantially the form attached hereto as Exhibit “A” and incorporated herein by this reference. Section 2. Authorizes the Mayor of the City of Chandler to execute the First Amendment to the Development Agreement and related documents for and on behalf of the City of Chandler. Section 3. Authorizes the City Manager to execute and provide necessary documentation needed to implement the First Amendment to the Development Agreement. Section 4. The First Amendment will be deemed null and void and of no legal effect if Successor Developer does not hold or own fee simple title to the Property within thirty (30) calendar days of the effective date of this resolution. Resolution No. 5952 Page 2 PASSED AND ADOPTED by the City Council of the City of Chandler, Arizona, this ____ day of October, 2025. ATTEST: ___________________________________ _________________________________ CITY CLERK MAYOR CERTIFICATION I HEREBY CERTIFY that the above and foregoing Resolution No. 5952 was duly passed and adopted by the City Council of the City of Chandler, Arizona, at a regular meeting held on the _____ day of October, 2025 and that a quorum was present thereat. ______________________________ CITY CLERK APPROVED AS TO FORM: ______________________________ CITY ATTORNEY