EXHIBIT 10.65
FIRST AMENDMENT
TO THAT LEASE
BY AND BETWEEN
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY, as Landlord
and
CORTEX PHARMACEUTICALS, INC., as Tenant
DATED: February 1, 1999
This Amendment hereby deletes, alters, changes supplements or amends the
following Provisions of the Lease dated January 31, 1994:
1.05 Lease Term: The Lease Term shall be extended from five (5) years to ten (10)
years.
1.06 Termination The Termination Date shall be extended from May 31, 1999 to May 31,
Date: 2004.
1.09 Minimum Effective June 1, 1999, the Minimum Monthly Rent shall be $21,930.68.
Monthly Rent:
1.13 Security Effective June 1, 1999, the Security Deposit shall be increased to
Deposit: $32,484.17 from $22,930.00.
1.15 Landlord's Landlord's address is changed to:
Address: 000 Xxxxxxx Xxxxxx Xx., #000
Xxxxxxx Xxxxx, XX 00000
With a copy to:
Xxxxxxx X. Xxxxx, Inc.
00 Xxxxxxx, Xxx 000
Xxxxxx, XX 00000
1.17 Broker's Name Xxxxxx X. Xxxxxxxx is hereby deleted.
and Address:
EXHIBIT C: Work Letter This Exhibit is deleted in its entirety as the renewal is on an "As
Agreement Is" basis.
EXHIBIT F: Addendum
4.01 Early Entry The first paragraph of this Provision is deleted in its entirety.
4.04 Option to This Provision is deleted in its entirety.
Extend:
5.02(ii) Option Five Second Year Minimum Monthly Rent $22,807.91
Year Term: Third Year Minimum Monthly Rent $23,720.22
Fourth Year Minimum Monthly Rent $24,669.03
Fifth Year Minimum Monthly Rent $25,655.79
5.03 Additional The new maximum expense budget shall be $5,082.00/month as set forth
Rent: in Exhibit E attached hereto.
Additional Tenant shall pay $300.35/month as Additional Rent which amortizes
Rent: Tenant's Broker's commission of $14,254.04 at 10% interest over the
five (5) year extension.
Article 8 Security The Security Deposit increased to $32,484.17 from $22,930.00
Deposit: effective June 1, 1999.
Section 15.01 Payment by This provision is deleted in its entirety.
Tenant:
All other Provisions of the Lease Agreement shall remain in full force and
effect. Landlord and Tenant acknowledge the specific terms of this First
Amendment to the Lease.
LANDLORD: TENANT:
THE NORTHWESTERN MUTUAL CORTEX PHARMACEUTICALS, INC.
LIFE INSURANCE COMPANY
dba Barranca Business Center
BY: Northwestern Investment Management BY: /s/ Xxxxxxx X. Xxxxxx, Ph.D.
Company, a Wisconsin corporation, -------------------------------
its wholly owned subsidiary and ITS: President and CEO
Authorized representative. -------------------------------
BY: /s/ Xxx Xxxxxx
-------------------------------
DATE: March 3, 1999 DATE: February 19, 1999
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