The Bidding Process 

1. The Sonoran Desert Commons Office Lease form will be used for all transactions. The form is posted on this website.
   
2. The Lessee Lease Terms and Property Specifications and Disclosures Sheet plus the Bid Sheet are referred to as the Bid Package.
   
3. Property tours will be held prior to the auction deadline by Broker. Bid Packages will be posted by Broker in each auction unit.
   
4. Bidders will be required to return the completed/signed bid sheet by 5:00 pm on the sealed bid auction closing date. Sealed bid sheets will be sent to a Third Party Fiduciary by U.S. Mail, Federal Express/other 3rd party carriers or delivered in person SO LONG AS THEY ARE RECEIVED IN A SEALED CONDITION WITH "CHAMPION LEASE BID" APPEARING CLEARLY ON THE ENVELOPE BY THE STATED DEADLINE. Electronic or facsimile delivery will not be accepted. Withdraws of previously submitted bids may be done prior to the sealed bid auction deadline utilizing the same delivery methods mentioned above. Modifications of previously submitted bids shall be done via withdraw and re-submission. Bids may not be withdrawn after the sealed bid auction closing date.
   
5. Bidders will bid on price only and will disclose Lessee contact information using the standard Bid Sheet. All other lease terms and conditions will be pre-established by the Owner.
   
6. Winning bidders are subject to reasonable credit approval by Landlord. The Lease Application is posted on this website.
   
7. Failure to comply with the sealed bid auction terms and conditions may disqualify bidders.
   
8. Owners may withdraw spaces prior to the bid deadline by notifying Broker in writing. No notice will be required to bidders regarding withdrawn spaces.
   
9. The third party fiduciary will receive/safeguard/hold the sealed bids, open the bids, tabulate the results, publish and certify the results in writing to Broker, contact the winning bidder and set a lease signing appointment. As received, the sealed bids will be entered into a vault by the Fiduciary under dual control for safeguarding until the auction closing date. At 9:00 am on the day following the auction closing date, sealed bids will be opened by the Fiduciary under dual control by 2 representatives of the Fiduciary. All bids will be entered into an Auction Results Report in which the winning bidder will be identified by property. The Auction Results Report will be certified by each dual control representative and transmitted via email or facsimile to Broker on Fiduciary letterhead. Owner shall reserve sole discretion whether or not to select any bids. The decision of the Owner to select bidders as successful bidders or not select bidders as successful bidders shall not be subject to challenge. Bids that fail to meet the bid closing deadline and submission requirements may be in the Owners sole and absolute discretion deemed unresponsive or non-conforming. Similarly, bids made on different forms and /or modifications made to any legal documents may in Owners sole and absolute discretion be deemed unresponsive of non-conforming. Owner shall be under no obligation to review or consider any bids that Owner in its sole discretion determines to be unresponsive or non-conforming.
   
10. In the event of a tie, The Fiduciary shall make phone contact with the two (2) or more highest bidders and give them 24 hours to submit a "best and final offer" in writing. There will be a deadline set and in the event that one of the bidders fails to submit a bid in time or at all, the property would be awarded at the best and final rate to the person who did submit a bid.
    
11. Prior to the lease signing appointment, Broker will prepare a Sonoran Desert Commons Office Lease form and deliver same to Fiduciary.
    
12. Winning bidder will go to the Fiduciary office, sign a Lessee Confidentiality Agreement agreeing to keep all lease terms and conditions confidential, sign the Lessee Solicitation, sign the Lessee Lease Terms and Property Specifications and Disclosures Sheet, sign the Sonoran Desert Commons Office Lease, complete the Lessee Lease Application, deliver an insurance certificate as required in the Lease along with a check for the first months base rent, first months estimated operating expenses, the security deposit (equal to the last months base rent) and the rental tax. Funds shall be via certified check, cashier's check or via bank wire. Fiduciary will deposit all monies in a separate account held in trust for Champion Lease Bid.
    
13. Fiduciary will forward the Lessee's Lease Application to Owner for 72 hour review and reasonable approval. If not approved, the 2nd highest bidder will be contacted by Broker or Fiduciary and the same process described herein will apply.
    
14. As scheduled by the Fiduciary, Owner will sign the Sonoran Desert Commons Lease and the Fiduciary will provide copies of the fully executed lease to Broker, Owner and Lessee.
    
15. Broker or Fiduciary will deliver keys to the winning bidder.
    
16. Non-winning bidders will be considered back up offers.

Other Terms & Conditions:

1. Leases will not be recorded.
   
2. Auctions may be held over two (2) week cycles.