Common use of Construction Allowance Clause in Contracts

Construction Allowance. (a) Landlord shall provide to Tenant a construction allowance (the “Suite 140 Construction Allowance”) not exceeding $181,856.00 (namely, $12.00 per square foot on 5,458 sq. ft. (Suite 140A), $12.00 per square foot on 5,489 sq. ft. within Suite 140B, and $10.40 per square foot on the remaining 4,855 sq. ft. within Suite 140B) the entire of which sum is available for Suite 140. The Suite 140 Construction Allowance may be allocated to either bio-lab or office finish out. The Suite 140 Construction Allowance shall be used for (i) construction costs under the construction contract and subcontracts, (ii) a construction management fee of 3% of Total Construction Costs to be paid to Landlord (and which shall be deducted by Landlord from the Construction Allowance), (iii) the cost of the Drawings and the construction documents, including any third party fees incurred by Landlord to pay for review of the Drawings by Landlord’s consultants, including the Building’s mechanical and electrical engineers, and, (iv) tenant directory and suite signage. (b) No more frequently than once every thirty (30) days, Tenant may request payment to Tenant from the Suite 140 Construction Allowance for work performed during the previous thirty (30) day period. Each of Landlord’s progress payments shall be limited to an amount equal to the aggregate amounts for which payment by Tenant is due (as certified by Tenant’s independent architect) to the General Contractor, subcontractors and suppliers which have not been subject to previous disbursements from Landlord. Such progress payments shall be made within thirty (30) days next following the delivery to Landlord of requisition therefor, signed by Tenant’s independent architect, which requisitions shall set forth the names of each contractor, subcontractor and supplier to whom payment is due, and the amount thereof, and shall be accompanied by (i) invoices and signed waivers and releases of lien in form reasonably acceptable to Landlord from the General Contractor and all subcontractors, and suppliers covering all work and materials which were the subject of progress payments by Landlord (and if applicable, Tenant), (ii) a written certification from Tenant’s architect that the work which is being paid by such progress payment has been completed substantially in accordance with plans previously approved by Landlord, and (iii) such other documents and information as Landlord may reasonably request. Landlord may retain ten percent (10%) of amounts due for such work (or such larger amount which may be required by statute, if applicable), with the final payment of such retainage being payable within thirty (30) days following Substantial Completion of the Suite 140 Work and Tenant’s delivery to Landlord of (1) all invoices and final lien waivers from the General Contractor, subcontractors, and suppliers in form reasonably acceptable to Landlord, (2) a CAD set of as-built Drawings for the Suite 140 Work, (3) a certificate of occupancy from the appropriate governmental authority, if applicable to the Suite 140 Work, or evidence of governmental inspection and approval of the Suite 140 Work, and (4) evidence of compliance with the Texas Department of Licensing and Regulations’ (“TDLR”) Texas Accessibility Standards (“TAS”) (the “TAS Compliance Letter”). The Suite 140 Construction Allowance must be used by Tenant within twelve (12) months from and including the Effective Date of this Amendment; any portion which is not so used shall thereupon belong to Landlord absolutely and Tenant shall have no rights thereto.

Construction Allowance. (a) Landlord shall provide to Tenant a construction allowance (the “Suite 140 Construction 120 Allowance”) not exceeding $181,856.00 80,457.60 (namely, $12.00 13.60 per square foot on 5,458 5,916 sq. ft. (Suite 140A), $12.00 per square foot on 5,489 sq. ft. .) for office finish-out only within Suite 140B, and $10.40 per square foot on the remaining 4,855 sq. ft. within Suite 140B) the entire of which sum is available for Suite 140120. The Suite 140 Construction Allowance may be allocated to either bio-lab or office finish out. The Suite 140 Construction 120 Allowance shall be used for (i) construction costs under the construction contract and subcontracts, (ii) a construction management fee of 3% of Total TI Construction Costs to be paid to Landlord (and which shall be deducted by Landlord from the Construction Suite 120 Allowance), and (iii) the cost of the Suite 120 Drawings and the construction documents, including any third party fees incurred by Landlord to pay for review of the Suite 120 Drawings by Landlord’s consultants, including the Building’s mechanical and electrical engineers. The Suite 120 Allowance may not be used for the purchase of furniture, andtrade fixtures, (iv) tenant directory and suite signageequipment or inventory or for move-in costs, or for the payment of data/telecommunication cabling installation costs which shall be Tenant’s responsibility. Landlord agrees that a sum of up to 3% of hard costs may be deducted from any remaining Suite 120 Allowance for payment of Tenant’s construction manager. (b) No more frequently than once every thirty (30) days, Tenant may request payment to Tenant from the Suite 140 Construction 120 Allowance for work performed during the previous thirty (30) day period. Each of Landlord’s progress payments shall be limited to an amount equal to the aggregate amounts for which payment by Tenant is due (as certified by Tenant’s independent architect) to the General Contractor, subcontractors and suppliers which have not been subject to previous disbursements from Landlord. Such progress payments shall be made within thirty (30) days next following the delivery to Landlord of requisition therefor, signed by Tenant’s independent architect, which requisitions shall set forth the names of each contractor, subcontractor and supplier to whom payment is due, and the amount thereof, and shall be accompanied by (i) invoices and signed waivers and releases of lien in form reasonably acceptable to Landlord from the General Contractor and all subcontractors, and suppliers covering all work and materials which were the subject of progress payments by Landlord (and if applicable, Tenant), (ii) a written certification from Tenant’s architect that the work which is being paid by such progress payment has been completed substantially in accordance with plans previously approved by Landlord, and (iii) such other documents and information as Landlord may reasonably request. Landlord may retain ten percent (10%) of amounts due for such work (or such larger amount which may be required by statute, if applicable), with the final payment of such retainage being payable within thirty (30) days following Substantial Completion of the Suite 140 120 Work and Tenant’s delivery to Landlord of of (1) all invoices and final lien waivers from the General Contractor, subcontractors, and suppliers in form reasonably acceptable to Landlord, (2) a CAD set of as-built Drawings for the Suite 140 120 Work, (3) a certificate of occupancy from the appropriate governmental authority, if applicable to the Suite 140 120 Work, or evidence of governmental inspection and approval of the Suite 140 120 Work, and (4) evidence of compliance with the Texas Accessibility Standards of the Texas Department of Licensing and Regulations’ (“TDLR”) Texas Accessibility Standards (“TAS”) (the “TAS Compliance Letter”). The Suite 140 Construction 120 Allowance must be used by Tenant within twelve (12) months from and including the Effective Date of this Amendmentby December 1, 2011; any portion which is not so used shall thereupon belong to Landlord absolutely and Tenant shall have no rights thereto.