Document:

Document

Exhibit 10.64

THIRD AMENDMENT TO LEASE
This Third Amendment to Lease (“Third Amendment”) dated this 14th day of October, 2019 (“Effective Date”), is by and between KBSII GRANITE TOWER, LLC, a  Delaware limited liability company (“Landlord”), and INTEGRIS HOLDINGS LLC, a Colorado limited liability company, and INTEGRIS PARTNERS, LTD., a Colorado limited liability company (jointly and severally as “Tenant”).
RECITALS
A.Cumberland Office Park, LLC, a Georgia limited liability company, as the predecessor to Landlord, and Tenant, entered into that certain Office Lease Agreement dated April 28, 2008 (“Original Lease”), which Original Lease was subsequently amended by virtue of that certain First Amendment to Lease dated June 7, 2013 (“First Amendment”), which Original Lease was subsequently amended by virtue of that certain Second Amendment to Lease dated November 29, 2013 (“Second Amendment”), with respect to premises currently consisting of approximately 3,041 rentable square feet known as Suite 2750 (“Premises”) on the twenty­ seventh (27th) floor of the building currently known as Granite Tower located at 1099 18th Street, Denver, Colorado 80202 (“Building”).
B.The Original Lease, First Amendment and Second Amendment are collectively referred to herein as the "Lease."
C.Landlord is the current owner of the Building and is the successor Landlord under the Lease..
D.The term (“Term”) of the Lease for the Premises expires on February 29, 2020.
E.Tenant wishes to extend the Term for the Premises for a period of sixty-five (65) months commencing March 1, 2020, and Landlord desires to agree to the same, subject to the following terms and conditions.
NOW, THEREFORE, in consideration of the mutual obligations and covenants contained in this Third Amendment and the Lease, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:
1.Definitions and Recitals. Except such terms and words as are defined herein, any other capitalized terms and words used herein shall have the meaning attributed  to them as set out in the Lease. The above Recitals are specifically incorporated herein by reference.
2.Extension Term. The Term of the Lease for the Premises shall be extended by sixty-five (65) months commencing on March 1, 2020 (“Extension Term Commencement Date”), and expiring on July 31, 2025 (“Extension Term”). Upon the Effective Date hereof, all references in the Lease to the "Expiration Date" shall mean July 31, 2025.

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3.Monthly Rent for the Extension Term. Commencing on the Extension Term Commencement Date, the monthly installments of Basic Annual Rent for the Premises shall be the following through the duration of the Extension Term:
																											
	Term		$ Per Sq. Ft.		Sq. Ft.		Monthly Base Rent		Periodic Base Rent
									
	3-1-20 to 7-31-20
		$42.00		3,041 	 		$10,643.50		$53,217.50*
	8-1-20 to 2-28-21
		$42.00		3,041 	 		$10,643.50		$74,504.50
	3-1-21 to 2-28-22
		$42.84		3,041 	 		$10,856.37		$130,276.44
	3-1-22 to 2-28-23
		$43.70		3,041 	 		$11,074.31		$132,891.72
	3-1-23 to 2-29-24
		$44.57		3,041 	 		$11,294.78		$135,537.36
	3-1-24 to 2-28-25
		$45.46		3,041 	 		$11,520.32		$138,243.84
	3-1-25 to 7-31-25
		$46.37		3,041 	 		$11,750.39		$58,751.95

* Notwithstanding anything to the contrary contained in this Third Amendment, Landlord agrees not to demand or collect from Tenant monthly installments of Basic Annual Rent for  the Premises for the period beginning on March 1, 2020, ending on July 31, 2020 (collectively, the “Abatement Period”) (collectively, the “Rent Abatement”). The Rent  Abatement  afforded  by this Section will be of no force or effect if there has occurred, as of the date on which any installment of Basic Annual Rent would otherwise be due during the Abatement Period, (i) an event of default beyond any applicable notice and cure period, or (ii) if Tenant does not occupy the entirety of the Premises, or (iii) an assignment of the Lease has occurred  or a sublease of all or any portion of the Premises exists. Except for such Rent Abatement, all of the terms and conditions of this Lease will be applicable during the Abatement Period. The Rent Abatement shall also apply to Tenant’s Share of Operating Expenses and Taxes during  the  Abatement Period.
4.Premises. Landlord and Tenant acknowledge that the Premises shall  not  be subject to remeasurement by Landlord during the Extension Term.
5.Base Year. Commencing on the Extension Term Commencement Date, “Base Year”, as defined in Section 1.l(j) of the Original Lease, shall be redefined to mean the calendar year 2020.
6.Condition of the Premises. Tenant agrees to accept the Premises in its "as-is" condition. Tenant is not entitled to any improvements thereto or thereof or to any allowance or credit for improvements thereto or thereof, except as set forth herein. Notwithstanding the foregoing, Landlord agrees to act as construction manager to perform the  following improvements and rehabilitation work in the Premises (the "Tenant Improvements"). After Landlord has received executed copies of this Third Amendment from Tenant, Landlord shall perform the following Tenant Improvements to the Premises:
i.Installation of new Building standard carpet throughout the Premises;
ii.new paint in reception area of the Premises;

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iii.one (1) additional pane of glass in conference room wall to match existing; and
iv.repair/clean all window coverings in a good and workmanlike manner and per Building standard finishes, including moving Tenant's furniture as required.
The Tenant Improvements shall be completed by Landlord prior to the Extension Term Commencement Date. Landlord shall select the contractor to complete the Tenant Improvements, and except as set forth herein, shall have no further obligations with respect to repair or replacement of items in the Premises except as set forth in the Lease. From and after  the Effective Date, Paragraph 7 of the Second Amendment is deemed deleted in its entirety.
7.Allowance. As of the Extension Term Commencement Date, Tenant shall be entitled to an allowance from Landlord equal to Twelve Thousand One Hundred Sixty-Four Dollars ($12,164.00) based on Four Dollars ($4.00) per rentable square feet of the Premises (“Allowance”). From and after the Extension Term Commencement Date, the Allowance  shall be applied by Landlord as a credit against future Rent.
8.Expansion Option and Recapture Right. From and after the Effective Date, Paragraph 8 of the Second Amendment is deemed deleted in its entirety.
9.Renewal Option.  Landlord  and Tenant acknowledge that the terms of Paragraph 9 of the Second Amendment shall be applicable and that Tenant shall have a five (5) year Renewal Option upon the expiration of the Extension Term.
10.Parking. From and after the Extension Term Commencement Date, Landlord and Tenant acknowledge that Landlord shall make available up to three (3) parking spaces in the Parking Garage. Current monthly parking rates are Two Hundred· Ten Dollars ($210.00) per space, per month for unreserved parking spaces and Two Hundred Sixty Dollars ($260.00) per space, per month for reserved parking spaces, subject to market adjustments by Landlord.
11.Notice and Payment of Rent. Upon the mutual execution of this Third Amendment, the notice addresses for Landlord in Paragraph 1.1M of the Lease and the address for payment of Rent are deemed deleted and replaced with the following:
									
	If to Landlord:		KBSII Granite Tower, LLC
c/o Transwestern
1099 18th Street, Suite 2110
Denver, Colorado 80202
			
	With a simultaneous
copies to:		Koll Bren Schreiber Realty Advisors, Inc.
800 Newport Center Drive, Suite 700
Newport Beach, California 92660
Attn: Clint Copulos, Senior Vice President

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	and:		Moye White LLP
1400 16th Street, 6th Floor
Denver, Colorado 80202
Attn: Thomas M. List, Esq.
Telephone:  (303) 292-2900
Facsimile:  (303) 6292-4510
			
	For Payment of Rent:		
			KBSII Granite Tower, LLC
c/o Transwestern
1099 18th Street, Suite 2110
Denver, CO 80202

			

12.Inducement Recapture in Event of Default. Any agreement by Landlord for free or abated rent or other charges applicable to the Premises, or for the giving or paying  by Landlord to or for Tenant of any cash or other bonus, inducement or consideration for Tenant's entering into this Third Amendment, including, but not limited to, any tenant  finish allowance, all of which concessions are hereinafter referred to as "Inducement Provisions" shall be deemed conditioned upon Tenant's not being in default beyond any applicable notice and cure periods. Upon the occurrence of an event of default of this Lease by Tenant beyond any applicable notice and cure period, any such Inducement Provision shall automatically be deemed deleted from this Lease and of no further force or effect, and any rent, other charge, bonus, inducement or consideration theretofore abated, given or paid by Landlord under such an Inducement Provision shall be immediately due and payable by Tenant to Landlord, and recoverable by Landlord, as additional rent due under this Lease, notwithstanding any subsequent cure of said event of  default by Tenant. The acceptance by Landlord of rent or the cure of the event of default which initiated the operation of this Paragraph 11 shall not be deemed a waiver by Landlord of the provisions of this Paragraph 11 unless specifically so stated in writing by Landlord at the time of such acceptance.
13.Broker. Tenant represents and warrants that, except for Jones Lang LaSalle, , agent for Landlord, and Colorado Commercial Companies, agent for Tenant, no claims exist for payment of any brokerage commissions or finder's fees in connection with this Third Amendment by reason of Tenant having had any dealings with any other broker in connection therewith, and Tenant agrees to indemnify, defend and hold harmless Landlord from and against all claims, liabilities and expenses, including reasonable attorneys' fees, arising from any claims for payment of any brokerage commissions or finder's fees related to any misrepresentation hereunder by Tenant.
14.Anti-Terrorism Statute Compliance. Tenant hereby represents and warrants to Landlord that Tenant is not: (1) in violation of any Anti-Terrorism Law; (2) conducting any business or engaging in any transaction or dealing with any prohibited Person, including the making or receiving or any contribution of funds, goods or services to or for the benefit of any Prohibited Person; (3) dealing in, or otherwise engaging in any transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13221; (4) engaging in

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or conspiring to engage in any transaction that evades or avoids, or had the purpose of evading or avoiding, or attempts to violate any of the prohibitions set forth in any Anti-Terrorism Law; or (5) a Prohibited Person, nor are any of its partners, members, managers, officers or directors a Prohibited Person. As used herein, “Antiterrorism Law” is defined as any law relating to terrorism, anti-terrorism, money laundering or anti-money laundering activities, including Executive Order No. 13224 and Title 3 of the USA Patriot Act. As used  herein “Executive Order No. 13224” is defined as Executive Order No. 13224 on Terrorist Financing effective September 24, 2001, and relating to “Blocking Property and Prohibiting Transactions With Persons Who Commit, or Support Terrorism” “Prohibited Person” is defined as (i) a person or entity that is listed in the Annex to Executive Order 13224; (ii) a person or entity with whom Tenant or Landlord is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, or (iii) a person or entity that is named as a "specially designated national and blocked person' on the most current list published by the U.S. Treasury Department Office Of Foreign Assets Control as its official website, http://www.treas.gov/ofac/tll sdn.pdf or at any replacement website or other official publication of such list. “USA Patriot Act” is defined as the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001" (Public Law 107-56).
15.Tenants Representations and Warranties. Tenant hereby represents, warrants and agrees that: (1) there exists no breach, default or event of default by Landlord under the Lease, or any event or condition which, with notice or passage of time or both, would constitute a breach, default or event of default by Landlord under the Lease; (2) the Lease continues to be a legal, valid and binding agreement and obligation of Tenant; and (3) Tenant has no current offset or defense to their performance or obligations under the Lease. Tenant hereby waives and releases all demands, charges, claims, accounts or causes of action of any nature against Landlord or Landlord's employees or agents, including without limitation, both known and unknown demands, charges, claims, accounts, and causes of action that have previously arisen out of or in connection with the Lease.
16.Miscellaneous.
(a)In the event of any litigation arising out of or in connection with this Third Amendment, the prevailing party shall be awarded reasonable attorney's fees, cost and expenses.
(b)The Lease, as modified herein, remains in full force and effect and is ratified by Landlord and Tenant. In the event of any conflict between the Lease and this Third Amendment, the terms and conditions of this Third Amendment shall control. Capitalized terms not defined herein shall have the same meaning as set forth in the Lease.
(c)This Third Amendment is binding upon and inures to the benefit of the parties hereto and their respective heirs, personal representatives, successors and assigns. Except as expressly provided herein, Tenant has not assigned or transferred any interest in the Lease, as amended, and has full power and authority to execute this Third Amendment.
(d)Time is of the essence herein, unless waived by Landlord, which it shall have the right, but not the obligation to do.

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(e)This Third Amendment shall be governed by and construed in accordance with  the laws of the State of Colorado.
(f)This document may be executed in any number of counterparts, which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, Landlord and Tenant have executed this Third Amendment to Lease on the day and year fist above written.
[Signatures appear on following page]

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LANDLORD:
KBSII Granite Tower, LLC,
By:  KBS Capital Advisors, LLC
as Owner’s Representative
By: /s/ Clint Copulos
Clint Copulos, Senior Vice President
TENANT:
INTEGRIS HOLDINGS LLC,
a Colorado limited liability company
By: /s/ Patrick Seese
Name: Patrick Seese
Title: Managing Director
INTEGRIS PARTNERS, LTD.,
a Colorado limited liability company
By: /s/ Robert Heilbronm Sr.
Name: Robert Heilbronm Sr.
Title: Managing Director
7Document

Exhibit 10.65
TWELFTH AMENDMENT TO LEASE
This Twelfth Amendment to Lease (this “Twelfth Amendment”) is made and entered into by and between KBSII FOUNTAINHEAD LLC, a Delaware limited liability company (“Landlord”), as successor-in-interest to US Real Estate Limited Partnership (“Original Landlord”), and THE UNIVERSITY OF PHOENIX, INC., an Arizona corporation (“Tenant”), effective as of July ________, 2019 (the “Effective Date”).
W I T N E S S E T H
WHEREAS, Landlord and Tenant are parties to that certain Fountainhead Corporate Park Lease, dated June 29, 2009 originally entered by and between Original Landlord and Tenant (the “Original Lease”), as amended by (i) that certain First Amendment to Lease, dated August 11, 2009 (the “First Amendment”), (ii) that certain Second Amendment to Lease, dated November 1, 2009 (the “Second Amendment”), (iii) that certain Third Amendment to Lease, dated February 19, 2010 (the “Third Amendment”), (iv) that certain Fourth Amendment to Lease, dated March 11, 2011 (the “Fourth Amendment”), (v) that certain Fifth Amendment to Lease, dated August 3, 2011 (the “Fifth Amendment”), (vi) that certain Sixth Amendment to Lease, dated December 22, 2011 (the “Sixth Amendment”), (vii) that certain  Seventh  Amendment  to Lease, dated June 1, 2012 (the “Seventh Amendment”), (viii) that certain Eighth Amendment to Lease, dated August 18, 2017 (the “Eighth Amendment”), (ix) that certain Ninth Amendment to Lease, dated April 2018 (the “Ninth Amendment;”); (x) that certain Tenth Amendment to Lease, dated January 2, 2019 (the “Tenth Amendment”), and (xi) that certain Eleventh Amendment to Lease, dated February 6, 2019 (the “Eleventh Amendment”; the Original Lease, as so amended, being the “Lease”), pursuant to which Tenant is currently leasing from Landlord certain real property and improvements located at 1625 Fountainhead Parkway, Tempe, Arizona 85282 and 1601 Fountainhead Parkway, Tempe, Arizona 85282 (collectively, the “Premises”);
WHEREAS, pursuant to that certain Sublease, dated August 12, 2014 (the “Original Concentrix Sublease”), by and between Concentrix Corporation, a New York Corporation (“Concentrix”), as amended by that certain First Amendment to Sublease, dated September 11, 2014 (the “First Amendment to Concentrix Sublease”), and that certain Second Amendment  to Sublease, dated February 2015 (the “Second Amendment to Conentrix Sublease”; and  together  with  the  Original Concentrix Sublease, and the First Amendment to Concentrix Sublease, collectively, the “Concentrix Sublease”), Concentrix sublet a portion of the Premises from Tenant;
WHEREAS, pursuant to that certain Consent, Recognition, Non-Disturbance and Attornment Agreement of Landlord, dated September 11, 2014 (the “Origina1 Concentrix Consent”) by and among Landlord, Tenant and Concentrix, as amended by that certain First Amendment to Consent, Recognition, Non-Disturbance and Attornment Agreement of Landlord, dated March 3, 2015 (the “First Amendment to Concentrix, Consent”; and together with the Original Concentrix Consent, collectively, the “Concentrix Consent”), Landlord consented to Tenant subleasing a portion of the Premises to Concentrix;
WHEREAS, pursuant to the Original Concentrix Consent, Tenant posted a letter of credit, dated September 15, 2014 issued by JP Morgan Chase Bank, N.A. (the “Original JP Morgan Chase
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UOPX – Spring Center, AZ – Twelfth Amendment to Lease     EXECUTION VERSION

Bank Letter of Credit”), to secure the performance of certain obligations under the Lease as more particularly set forth in the Concentrix Consent;
WHEREAS, pursuant to the First Amendment to Concentrix Consent, the Original JP Morgan Chase Letter of Credit was amended by that certain Amendment No. 1, dated January 28, 2015 (the “First Amendment to JP Morgan Chase Letter of Credit”);
WHEREAS, the Original JP Morgan Chase Letter of Credit, as amended by the First Amendment to JP Morgan Chase Letter of Credit, was  further amended  by  that  certain Amendment No. 2, dated June 22, 2016 (the “Second Amendment to JP Morgan Chase Letter of Credit”; and together with the Original JP Morgan Chase Letter of Credit and the First Amendment to JP Morgan Chase Letter of Credit collectively, the “JP Morgan Chase Letter of Credit”),
WHEREAS, the JP Morgan Chase Letter of Credit was subsequently replaced with a new letter of credit, dated January 20, 2017, issued by Bank of the West, a California banking corporation (“BOTW”) (the “Original BOTW Letter of Credit”);
WHEREAS, pursuant to that certain Sublease, dated August 18, 2017 (the “Original BOTW Sublease”), by and between Tenant and Bank of the West, a California banking corporation (“BOTW”), as amended by that certain First Amendment to Sublease, dated December 29, 2017 (the “First Amendment to BOTW Sublease”), and that certain Second Amendment to Sublease, dated February 1, 2018 (the “Second Amendment to BOTW Sublease”; and together with the Original BOTW Sublease, and the First Amendment to BOTW Sublease, collectively, the “BOTW Sublease”), BOTW sublet a portion of the Premises from Tenant;
WHEREAS, pursuant to that certain Consent, Recognition, Non-Disturbance and Attornment Agreement of Landlord, dated August 24, 2017 (the “Original BOTW Consent”), by and among Landlord, Tenant and BOTW, as amended by that certain First Amendment to Consent, Recognition, Non-Disturbance and Attornment Agreement of Landlord, dated December 29, 2017 (the “First Amendment to BOTW Consent”), and that certain Second Amendment to Consent, Recognition, Non-Disturbance and Attornment Agreement of Landlord, dated April 2018 (the “Second Amendment to BOTW Consent”; and together with the Original BOTW Consent and the First Amendment to BOTW Consent, collectively, the “BOTW Consent”), Landlord consented to Tenant subleasing a portion of the Premises to BOTW;
WHEREAS, pursuant to the Original BOTW Consent and the Eighth Amendment, the Original BOTW Letter of Credit was amended  by Amendment  No. 1, dated August 29, 2017 (the “First Amendment to BOTW Letter of Credit”), and Tenant furnished a financial guarantee bond, dated August 21, 2017 (the “Original Surety Bond”) to further secure certain obligations to Landlord under the Lease;
WHEREAS, pursuant to the Second Amendment to BOTW Consent and the Ninth Amendment, the Original BOTW Letter of Credit, as amended by the First Amendment to BOTW Letter of Credit, was further amended by that certain Amendment No. 2, dated March 20, 2018 (the “Second Amendment to BOTW Letter of Credit”; and together with the Original BOTW Letter of Credit, and the First Amendment to BOTW Letter of Credit, collectively, the “BOTW Letter of

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Credit”), and the Original Surety Bond was amended by Rider, dated June 8, 2018 (the “Surety Bond Rider”; and together with the Original Surety Bond, collectively, the “Surety Bond”);
WHEREAS, pursuant to the terms of the Eleventh Amendment, the BOTW Letter of Credit was replaced with a new letter of credit, dated February 19, 2019, issued by UMB Bank, N.A. (“UMB”) (the “UMB Letter of Credit”);
WHEREAS, in connection with Tenant's request that Landlord release Tenant from its obligations under the Lease with respect to the Surety Bond, Landlord and Tenant are entering into this Twelfth Amendment in order to modify the requirements of the UMB Letter of Credit and to release Tenant from its obligations with respect to the Surety Bond;
WHEREAS, Landlord and Tenant desire to amend the Lease, all as more particularly provided below.
NOW, THEREFORE, pursuant to the foregoing, and in consideration of the mutual covenants and agreements contained in the Lease and herein, Landlord and Tenant hereby agree that the Lease is hereby modified and amended as set forth below:
1.Defined Terms. All capitalized terms used herein shall have the same meaning as defined in the Lease, unless otherwise defined in this Twelfth Amendment.
2.UMB Letter of Credit. As of the Effective Date  of  this  Twelfth  Amendment,  the UMB Letter of Credit is currently in the amount of $10,300,000.00 (the “UMB Letter of Credit Amount”). The UMB Letter of Credit Amount is scheduled to reduce in accordance with a reduction schedule set forth in the UMB Letter of Credit. Tenant is requesting that Landlord release Tenant from its obligations under the Lease with respect to the Surety Bond. As consideration for Landlord agreeing to release Tenant from its obligations under the Lease with respect to the Surety Bond, Tenant hereby agrees to cause UMB, on or before August 31, 2019 (the “First Amendment to UMB Letter of Credit Delivery Date”), to issue and deposit with Landlord an amendment to the UMB Letter of Credit (the “First Amendment to UMB Letter of Credit”) in the form attached hereto as Exhibit A, pursuant to the terms of which the UMB Letter of Credit shall be amended to provide that: (i) the UMB Letter of Credit Amount shall be increased to $14,150,000.00 (the “New UMB Letter of Credit Amount”); and (ii) if Tenant is not then in default under the terms of the Lease past applicable  notice and cure periods set forth in the Lease, the New UMB Letter of Credit Amount shall reduce based on the following reduction schedule (which reduction schedule shall be in lieu of  the reduction schedule  set forth in the UMB Letter of Credit, which such reduction schedule shall be of no further force or effect):
									
	Letter of Credit Adjustment Date		New UMB Letter of Credit Amount
			
	August 31, 2020		$10,760,000.00
	August 31, 2021		$7,330,748.00
	August 31, 2022		$3,910,014.00

In the event the First Amendment to UMB Letter of Credit is not delivered to Landlord on or before the First Amendment to UMB Letter of Credit Delivery Date, this Twelfth Amendment

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shall be deemed null and void. Tenant shall be obligated to reimburse Landlord, within thirty (30) days after receipt of a written invoice, for all of its actual out-of-pocket costs incurred in connection with this Twelfth Amendment and the other related ancillary agreements contemplated therein.
3.Surety Bond. Subject to the delivery of the First Amendment to New UMB Letter of Credit to Landlord in accordance with the terms of Paragraph 2 of this Twelfth Amendment, effective as of the First Amendment to UMB Letter of Credit Delivery Date, Tenant shall have no further obligations under the Lease with respect to  the Surety Bond, and accordingly, all references contained in the Lease to the Surety Bond, including, without limitation, the references to the Surety Bond contained in Paragraph 3 of the Eighth Amendment, Paragraph 3 of the Ninth Amendment, Paragraph 13 of the Original BOTW Consent and Paragraph 8(ii) of the Second Amendment to BOTW Consent shall be null and void and of no  further force or effect.  Landlord shall, within five (5) business days of the issuance and deposit of the First Amendment to UMB Letter of Credit with Landlord, return the Surety Bond to Tenant.
4.Guaranty. APOLLO EDUCATION GROUP, INC., an Arizona corporation formerly known as Apollo Group, Inc. (the “Guarantor”), executed that certain  Guaranty, dated as of June 29, 2009, in favor of Landlord under the Lease (the “Guaranty”), for the benefit of Tenant. The effectiveness of this Twelfth Amendment  shall be subject  to and  conditioned  upon Guarantor joining in the execution of this Twelfth Amendment, and such execution shall evidence only: (i) the consent of Guarantor to the terms and conditions of this Twelfth Amendment; (ii) the agreement of Guarantor that the Guaranty is and shall remain in full force and effect following the execution of this Twelfth Amendment; and (iii) the liability of  Guarantor under  the Guaranty shall extend to and cover all of the obligations of Tenant under the Lease, as amended by this Twelfth Amendment.
5.Brokers. Tenant represents and warrants to Landlord that it has had no dealings with any broker or agent in connection with the negotiation or execution of this Twelfth Amendment, and Tenant hereby agrees to indemnify and hold Landlord harmless from and against any and all costs, expenses or liability for commissions or other compensations or charges claimed by any broker or agent claiming to have represented Tenant with respect to this Twelfth Amendment or the transactions evidenced hereby.
6.Miscellaneous. With the exception of those terms and conditions specifically modified and amended herein, the herein referenced Lease shall remain in full force and effect in accordance with all their respective terms and conditions. In the event of any conflict between the terms and provisions of this Twelfth Amendment and the terms and provisions of the Lease, the terms and provisions of this Twelfth Amendment shall supersede and control.
7.Counterparts/Facsimile Signatures. This Twelfth Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of such counterparts shall constitute one agreement. To facilitate execution of this Twelfth Amendment, the parties may execute and exchange facsimile counterparts of the signature pages and facsimile counterparts shall serve as originals.
[Signature Page Follows]

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UOPX – Spring Center, AZ – Twelfth Amendment to Lease     EXECUTION VERSION

IN WITNESS WHEREOF, the parties hereto have executed this Twelfth Amendment on the dates set forth in the respective signature blocks below, to be effective for all purposes, however as of the Effective Date.

															
	LANDLORD:
				
					
	KBSII FOUNTAINHEAD, LLC,
a Delaware limited liability company				
					
	By:	KBS Capital Advisors, LLC,
a Delaware limited liability company,
as agent			
					
		By:	/s/ Tim Helgeson
Tim Helgeson,
Senior Vice President
		
					
		Date:	8/6/2019		
					
					
	TENANT:
				
					
	THE UNIVERSITY OF PHOENIX, INC.,
an Arizona corporation				
					
	By:	/s/ Chris Lynne			
	Name:	Chris Lynne			
	Title:	Chief Financial Officer			
					
	Date:	July ___, 2019			
	8/2/2019				

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UOPX – Spring Center, AZ – Twelfth Amendment to Lease     EXECUTION VERSION

JOINDER
APOLLO EDUCATION GROUP, INC., an Arizona corporation, acting in its capacity as Guarantor, join in the execution of this Twelfth Amendment to Lease for the purposes specified in Paragraph 4 of this Twelfth Amendment to Lease.
															
	GUARANTOR:
				
					
	APOLLO EDUCATION GROUP, INC.,
an Arizona corporation				
					
	By:	/s/ William Molina			
	Name:	William Molina			
	Title:	V.P., Tax			
					
	Date:	July ___, 2019			
		7/31/2019			

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UOPX – Spring Center, AZ – Twelfth Amendment to Lease     EXECUTION VERSION

Exhibit A
Form of First Amendment to UMB Letter of Credit
[see attached]

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UOPX – Spring Center, AZ – Twelfth Amendment to Lease     EXECUTION VERSION

AMENDMENT REQUEST FOR LETTER OF CREDIT

																					
	To:		UMB BANK, N.A.
International Trade Services
1008 Oak Street, Kansas City, Missouri 64106			Date: 07/31/19	
							
	We hereby authorize and request you to amend the following Letter of Credit: SB50656						
							
			LETTER OF CREDIT NO: SB50656				
			IN FAVOR OF: KBSII FOUNTAINHEAD, LLC				
							
			METHOD OF DELIVERY:		_X_ COURIER	____ SWIFT	
							
			1) INCREASE LC AMOUNT BY $3,850,000.00 TO $14,150,000.00				
							
			2) REPLACE THE CURRENT REDUCTION SCHEDULING READING:				
							
			REDUCTION DATE		NEW BALANCE		
			AUGUST 31, 2020		$7,330,748.00		
			AUGUST 31, 2021		$3,910,014.00		
							
			WITH:				
							
			REDUCTION DATE		NEW BALANCE		
			AUGUST 31, 2020		$10,760,000.00		
			AUGUST 31, 2021		$7,330,748.00		
			AUGUST 31, 2022		$3,910,014.00		
							
			OTHER INSTRUCTIONS				
							
	All other terms and conditions remain unchanged.						
							
							
	Debit LC fees from account _____________						
							
	THE UNIVERSITY OF PHOENIX, INC. 
__________________________________ 
Name of Applicant 
/s/ Chris Lynne
(Authorized Signature

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