Common use of Work and Materials Clause in Contracts

Work and Materials. Landlord and Tenant will mutually and reasonably agree upon General Contractor chosen to construct and install the Tenant Improvements in accordance with the Plans (the “Work”) which expense shall be deducted from the Tenant Improvement Allowance. Landlord shall ensure that the General Contractor completes the Tenant Improvements by the Commencement Date and shall manage the construction of the Tenant Improvements. All vendors and subcontractors for the upfit will be negotiated or bid by the General Contractor. a. Upon the execution of this lease, Landlord shall be fully authorized to have the General Contractor proceed with the Work so that the General Contractor can substantially complete the Tenant Improvements by the Commencement Date. b. Any changes in the approved cost of the Work shall be by in writing and signed by the Landlord with written approval by Tenant (each a "Change Order"). Tenant shall have five (5) Business Days after receiving the proposed Change Order to review and approve a Change Order or provide objections to same. If after five (5) Business Days Landlord has not received Tenant's approval of the Change Order and its cost, or any such objections, Tenant shall be deemed to approve the Change Order and its cost and Landlord shall be fully authorized to have the General Contactor proceed with the Work so that the General Contractor can substantially complete the Tenant Improvements by the Commencement Date. Tenant acknowledges that the following items may result in change orders: i. Municipal or other governmental inspectors require changes to the Premises such as code compliant changes. In such event, Landlord will notify the Tenant of the required changes, but the increased cost of such changes, if any, and any delay associated with such changes shall be the responsibility of the Tenant unless due to Landlord or Designer error and may be charged against any unused Tenant Improvement allowance. ii. Tenant makes changes to the Plans or requests additional work. Tenant will be notified of the cost and any delays and increased costs that would result from the Change Order before the changes are implemented. Any increased costs and delays due to such Tenant charges shall be the responsibility of Tenant and may be charged against any unused Tenant Improvement allowance. Any delays caused by such changes shall not delay the Commencement Date of the Lease. Landlord shall not charge Tenant any administrative fees in respect of any Change Order. iii. If materials are not readily available, require quick ship charges, or require substitution; in which event, Tenant will be given notice and the opportunity to select alternate materials.

Work and Materials. at Tenant's Expense. --------------------------------------- a. Prior to commencing and providing any such work or materials to the Premises, Landlord and Tenant will mutually and reasonably agree upon General Contractor chosen shall select a licensed general contractor or contractors (the "Contractor") to construct and install the Tenant Improvements. The Tenant Improvements work consists of two components: Office Improvements and Laboratory Improvements. (i) Landlord has already provided Tenant the written estimates for the cost of the Office Improvements. (ii) The contractor shall seek at least 3 competitive bids for all subcontract work in accordance connection with the Plans (Laboratory Improvements. Tenant may, subject to Landlord's approval, select subcontractors to submit bids for the “Work”) which expense shall subcontract work. Such subcontractors must be deducted from licensed in North Carolina and have proper credentials and bonding and insurance qualifications to be considered for the Tenant Improvement Allowancework. Landlord shall ensure that the General Contractor completes the submit to Tenant Improvements by the Commencement Date and shall manage the construction written estimates of the Tenant Improvements. All vendors and subcontractors for the upfit will be negotiated or bid by the General Contractor. a. Upon the execution of this lease, Landlord shall be fully authorized to have the General Contractor proceed with the Work so that the General Contractor can substantially complete the Tenant Improvements by the Commencement Date. b. Any changes in the approved cost of the Work shall be by in writing Laboratory Improvements work and signed by the Landlord with written approval by Tenant materials. (each a "Change Order"). iii) Tenant shall have five (5) Business Days after receiving the proposed Change Order business days to review and approve the written estimates for the Tenant Improvement work. In the event Tenant does not approve the written estimates, then Tenant shall have three (3) additional business days to verify or negotiate pricing with the general contractor or subcontractors, modify the Plans, or take other similar action with respect to the pricing.. Landlord shall not be authorized to proceed with construction of the Tenant Improvements until such estimate is mutually agreed upon and approved in writing and delivered to Landlord; provided, however, any delays in approval of the pricing beyond the eight (8) business days referenced above shall constitute a Change Order or provide objections Tenant Delay pursuant to sameparagraph 6b(ii), below. b. Tenant agrees to pay to Landlord, promptly upon being billed therefor, all costs and expenses in excess of the Allowance incurred in connection with the Tenant Improvements. If after Such costs and expenses shall include all amounts charged by the Contractor for performing such work and providing such materials (including the Contractor's general conditions, overhead and profit). Tenant will be billed for such costs and expenses in relation to Suite 102 as follows: (i) twenty-five percent (525%) Business Days Landlord has not received of such costs and expenses shall be due and payable upon Tenant's approval of the Change Order cost estimates for the Tenant Improvements; (ii) fifty percent (50%) of such costs and its cost, or any such objections, Tenant expenses shall be deemed to approve the Change Order due and its cost payable when such work is substantially completed as defined in Section 6 below; (iii) twenty-five percent (25%) of such costs and Landlord expenses shall be fully authorized to have the General Contactor proceed with the Work so that the General Contractor can substantially complete the Tenant Improvements by the Commencement Date. Tenant acknowledges that the following items may result in change orders: i. Municipal or other governmental inspectors require changes to the Premises such as code compliant changes. In such event, Landlord will notify the Tenant of the required changes, but the increased cost due and payable upon final completion of such changes, if any, and any delay associated with such changes shall be the responsibility of the Tenant unless due to Landlord or Designer error and may be charged against any unused Tenant Improvement allowance. ii. Tenant makes changes to the Plans or requests additional work. Tenant will be notified If unpaid within ten (10) days after receipt of invoice, then the cost and any delays and increased costs that would result from outstanding balance shall accrue at the Change Order before the changes are implemented. Any increased costs and delays due to such Tenant charges shall be the responsibility rate of Tenant and may be charged against any unused Tenant Improvement allowance. Any delays caused by such changes shall not delay the Commencement Date of the Lease. Landlord shall not charge Tenant any administrative fees one percent (1%) per month until paid in respect of any Change Orderfull. iii. If materials are not readily available, require quick ship charges, or require substitution; in which event, Tenant will be given notice and the opportunity to select alternate materials.