2005 Arizona Revised Statutes - Revised Statutes §42-6206  Development agreements; acknowledgment of tax liability; default

Each lease or development agreement between a prime lessee and a government lessor entered into after June 30, 1996 shall include:

1. A notice of the tax liability under this article.

2. A provision that failure by the prime lessee to pay the tax after notice and an opportunity to cure is an event of default that could result in divesting the prime lessee of any interest in or right of occupancy of the government property improvement.