EXHIBIT 10.18
AMENDMENT III TO LEASE AGREEMENT
DATED MAY 18, 1998
BY AND BETWEEN
PIAZZA TRADING & COMPANY, LTD., LANDLORD AND
BIOMARIN PHARMACEUTICAL, INC., TENANT
DATED OCTOBER 3, 2000
The following sections of the Lease Agreement by and between the Landlord and
Tenant referenced herein above shall be amended as follows:
Xxxxxxx 0 Xxxxxxxx Xxxx of Premises:
the rentable area of the Tenant's Premises shall be increased
from 13,368 rentable feet to 14,988 rentable square foot.
Section 2: Commencing upon execution of this Amendment III to Lease,
Tenant hereby leases from Landlord Suite 200 located at 000
Xxx Xxxxx Xxxx Xxxxxxxxx, Xxxxxx, Xxxxxxxxxx hereinafter the
"Amended Premises".
Section 3: Expiration Date: May 31, 2004
Section 4: Posession:
Tenant shall be granted Possession of the Premises from
Landlord on November 1, 2000. Tenant hereby accepts the
Premises in its "as-is" condition and repair including but
not limited to building operation systems, such as HVAC,
electrical, water, etc.
Section 5: Rent Commencement:
Upon execution of this Amendment III to Lease, Tenant shall
pay to Landlord the first months rent for the Amended
Premises, Suite 200, in the amount of $3,645.00.
Section 5: Monthly Base Rent:
The new monthly base rent payable by the Tenant as of
November 1, 2000 shall be $26,863.00 for the Premises as
defined in the lease by and between the parties herein dated
May 18, 1998, Amendment II dated February 12, 1999 and this
Amendment III. Upon execution of this Amendment III, Tenant
shall deposit with Landlord an additional security deposit in
the amount of $3,645.00 which increases the security deposit
held by Landlord to $26,868.00.
Section 6: Tenant's Share of Expenses & Taxes:
47.94%
Section 7: Parking:
Forty-one (41) unassigned and unreserved spaces.
Section 8: Tenant shall have two (2), three (3) year options to
extend the lease for suites 200, 210, 230 and 250 pursuant to
the terms and conditions of the Amendment II to Lease dated
February 12, 1999 and this Amendment III to Lease. The
monthly rent for each year of the option period(s), if
exercised, shall be under the same terms and conditions
herein herein and shall adjust as indicated herein below.
Addendum to Section 2 of the Addendum to Lease dated May 18, 1998,
Lease: "Rental Adjustment", the minimum rental increase shall be
4% per annum and the maximum increase shall remain at
6% per annum.
All other terms and conditions of the Lease Agreement and Amendment to Lease by
and between the parties herein dated May 18, 1998 and Amendment II to Lease
dated February 12, 1999 shall remain in full force and effect except as amended
herein.
LANDLORD: PIAZZA TRADING & COMPANY, LTD.
By: /s/ Xxxxx Xxxx
Its: General Manager
Dated:_ October 25, 2000
TENANT: BIOMARIN PHARMACEUTICAL, INC.
By: /s/ X. X. Xxxxxxxx
Its: Vice President Finance
Dated: October 25, 2000
