2/42 Addresses for Notices & Rent (see §18.1): Landlord: Name WCM Highlands II, LLC c/o Washington Capital Management, Inc. Address 1301 5th Avenue, Suite 1500 Seattle, WA 98101 Phone 206-382-0825 Fax 206-340-0142 Property Manager: GVA KIDDER MATHEWS...
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Exhibit 10.1 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. OFFICE LEASE REFERENCE DATE: May 9th, 2011. This Lease (this “Lease”) is made and entered into by and between WCM HIGHLANDS II, LLC, a Washington limited liability company (“Landlord”) and SEATTLE GENETICS, INC., a Delaware corporation (“Tenant”). 1. BASIC TERMS. This Section sets forth certain basic terms of this Lease for reference purposes. This Section is to be read in conjunction with the other provisions of this Lease and if there is any inconsistency between this Section and the other provisions of this Lease, this Section shall control. Premises (see §2) Term (see §2) Suite # Entire RidgePoint Building Lease Term (months) 84 Building Address 00000 00xx Xxxxx XX Lease Commencement 7/1/2011 City Bothell Base Rent Commencement 0/0/0000 Xxxxx Xxx Xxxx Xxxxxxxxxx 00000 Lease Expiration Renewal Options: See §1A 6/30/2018 Rentable Area (SF) (see §2) Premises: First Floor 40,500 Second Floor 40,500 Total 81,000 Operating Expenses (see §5) Tenant Share of Total 100% Permitted Uses Scientific research and development laboratory and general office uses, and no other Guarantors None Rent (see §§4,9) Start Date 7/1/2011 End Date 3/31/2012 Base Rent Per RSF/Yr $[ * ] Fully Abated Base Rent Per Month $[ * ] Fully Abated 4/1/2012 6/30/2012 $[ * ] $[ * ] 7/1/2012 6/30/2013 $[ * ] $[ * ] 7/1/2013 6/30/2014 $[ * ] $[ * ] 7/1/2014 6/30/2015 $[ * ] $[ * ] 7/1/2015 6/30/2016 $[ * ] $[ * ] 7/1/2016 6/30/2017 $[ * ] $[ * ] 7/1/2017 6/30/2018 $[ * ] $[ * ] Utilities Start Date Full Share of Operating Expenses Start Date Prepaid Rent Security Deposit Brokers (see §18.3): Mutual execution and delivery of this Lease July 1, 2011 $[ * ] $[ * ] Company Agents For Tenant Xxxxx Xxxx LaSalle Xxx Xxxxxx, Xxxx Xxxx For Landlord Pacific Real Estate Partners Xxxxxx Xxxxx, Xxxx Xxxxxx 1
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2/42 Addresses for Notices & Rent (see §18.1): Landlord: Name WCM Highlands II, LLC c/o Washington Capital Management, Inc. Address 0000 0xx Xxxxxx, Xxxxx 0000 Xxxxxxx, XX 00000 Phone 000-000-0000 Fax 000-000-0000 Property Manager: GVA XXXXXX XXXXXXX Address 500 – 000xx Xxxxxx XX, Xxxxx 0000 Xxxxxxxx, XX 00000 Phone 000-000-0000 Fax 000-000-0000 Rent Payments to be sent to: Name WCM HIGHLANDS II, LLC Address X.X. Xxx 00000 Xxxxxxx, XX 00000 Tenant Notice Address Prior to Commencement After Commencement Address 00000 00xx Xxxxxx XX At the Premises Xxxxxxx, XX 00000 Phone 000-000-0000 Fax 000-000-0000 Insurance – Parties to be named as Additional Insured (see §10.1): Landlord: WCM HIGHLANDS II, LLC Property Manager: GVA Xxxxxx Xxxxxxx Lender/Mortgagee: None at this time WCM: Washington Capital Management, Inc. Exhibits. The following exhibits are a part of this Lease. EXHIBIT A Legal Description EXHIBIT B Intentionally Omitted EXHIBIT C Work Letter EXHIBIT D Rules and Regulations EXHIBIT E Tenant’s ERISA Certificate EXHIBIT F List of Equipment Tenant is Permitted to Remove EXHIBIT G Proposed Space Plan EXHIBIT H Disclosure of Hazardous Materials 2
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4/42 Park/Bothell submarket. Tenant’s estimate of the Fair Market Rent shall be included with Tenant’s option exercise notice. Landlord shall give Tenant notice of Landlord’s estimate of the Fair Market Rent within [ * ] days after receipt of Tenant’s notice and thereafter the parties shall use good faith efforts to reach agreement on the Base Rent schedule for the Option Term within [ * ] after receipt of Landlord’s estimate. If the parties do not reach agreement on the Fair Market Rent within [ * ], then each party shall select a real estate appraiser with an MAI designation and at least [ * ] full-time commercial real estate appraisal experience in the office/high-tech industrial market (including laboratory space) in the Bothell/Canyon Park area and those two appraisers shall meet and work in good faith to reach agreement on the Fair Market Rent. If they reach agreement, then their decision shall be binding on the parties. If the two appraisers aren’t able to reach agreement within [ * ] after their selection, then the first two appraisers shall (a) put in writing their determination of the Fair Market Rent (the “Landlord’s Rent Proposal” and the “Tenant’s Rent Proposal”, respectively), and (b) jointly select a third appraiser with the qualifications described above. Within [ * ] after the selection of the third appraiser, the third appraiser shall determine which of the first two appraiser’s determinations most closely approximates what the third appraiser believes to be the Fair Market Rent. The Fair Market Rent established by the third appraiser shall be determined no later than [ * ] after engagement and shall be binding on the parties. Each party shall pay the cost of its appraiser and half the cost of the third appraiser. Early Entry for Construction. Commencing upon mutual execution of this Lease, Tenant may enter the Premises to construct Tenant’s Work (as defined in Section 2.5) in accordance with the Work Letter attached as Exhibit C to this Lease. During such early entry period, all the provisions of the Lease shall apply other than the payment of Base Rent and Tenant’s Share of Operating Expenses, however, Tenant shall pay all utilities and any costs directly related to construction and occurring during the construction period until the Commencement Date. Related Party Transfers. Notwithstanding the provisions of Section 11.1, Tenant shall not be required to obtain Landlord’s consent to assign the Lease to (i) a company wholly owned by Tenant, or (ii) a company under common control with Tenant, or (iii) a company that acquires Tenant or into which Tenant is merged [ * ] (a) [ * ], (b) a description of the proposed use of the Premises by the Transferee, (c) a summary of the terms of the proposed Transfer, (d) past three years plus current financial statements, if not publicly available, and the most recent filed federal income tax return of the proposed Transferee, and (e) a summary of the proposed Transfer documents all prior to the effective date of the assignment unless such transaction has not been made public and in that case, within [ * ] after such public announcement. Notwithstanding any other provision of this Lease, a public offering, sale or transfer of equity in the Tenant entity, whether characterized as common or preferred stock or any other ownership interest conducted in accordance with Securities Act of 1933, as amended, shall not require Landlord’s consent pursuant to this Section. No such assignment shall release Tenant from its obligations hereunder except in the case of a merger or acquisition in which Tenant is not the surviving entity. Sections 11.1, 11.5, 11.6 and 11.7 shall not apply to transfers permitted under this paragraph where Landlord’s consent is not required. Exterior Building Signage. Subject to City of Bothell rules and regulations, Canyon Park Business Owners Association Covenants and approvals and Landlord’s reasonable approval, Tenant shall have the right to a sign on the Building façade at Tenant’s expense. Tenant shall have the right to select the exterior signage size, design and application subject to local codes, the Canyon Park Business Owners Association Covenants and approvals, published sign criteria and Landlord’s reasonable approval. Any exterior sign shall be located on the portion of the Building leased by Tenant. Prior to expiration or termination of this Lease, Tenant shall remove the sign and repair the installation area so that the function and appearance of the affected area is indistinguishable from the surrounding area (including removal of adhesive materials, patching and painting (if requested) the area to achieve such condition and appearance). Landlord shall be entitled to post signage on the Building exterior and elsewhere on the Project offering any available space in the Building for lease or sale and will work with Tenant to minimize the impact to Tenant in marketing such space. 4
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10/42 Except for the amortized portion thereof (using the useful life of a given capital item and interest at the Prime Rate plus [ * ]% per annum), costs of a capital nature, including but not limited to capital improvements and alterations, capitalized equipment, capital repairs, as determined in accordance with generally accepted accounting principles. Overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis. All interest, loan fees, and other carrying costs related to any mortgage or deed of trust or related to any capital item, and all rental and other payable due under any ground or underlying lease. Advertising and promotional expenditures. Costs of repairs and other work occasioned by fire, windstorm or other casualty of an insurable nature to the extent Landlord has received insurance proceeds to pay for the repairs. Any costs, fines, or penalties incurred due to violations by Landlord of any governmental rule or authority, this Lease or any other lease in the Project. Management fees in excess of [ * ]% of net rental income from the Project. The cost of correcting any building code or other violations which were violations prior to the Commencement Date of this Lease. The cost of containing, removing, or otherwise remediating any contamination of the Project (including the underlying land and ground water) by any toxic or Hazardous Materials where such contamination was pre-existing on the Commencement Date and was not caused by Tenant Parties (defined in Section 10.3). Costs for sculpture, paintings, or other objects of art. Wages, salaries, or other compensation paid to any executive employees above the grade of project manager. If the Wall Street Journal ceases publishing a Prime Rate, then the Prime Rate announced by Bank of America, or its successors shall be used. R eal Property Taxes: “Real Property Taxes” shall mean all current and future taxes, governmental charges and assessments (including local and special improvement districts) levied on the Project, or any improvements, fixtures and equipment and all other property of Landlord, real or personal, used in the operation of the Project; any taxes in addition to or in lieu of, in whole or in part, such taxes; any tax upon leasing or rents of the Project, including any sales or use taxes; any other governmental charge such as payments for transit or environmental facilities; and all costs and expenses incurred by Landlord in connection with the attempt to reduce any of the foregoing, whether by negotiation or contest but excluding any taxes assessed directly against Tenant, which shall be paid by Tenant. If the present method of taxation changes so that in lieu of or in addition to the whole or any part of any Real Property Taxes, there is levied on Landlord a tax directly on rents or a franchise tax, assessment, or charge based, in whole or in part, upon such rents or revenues, including any business and occupation tax to the extent specifically applied to the revenues of the Project, then all such taxes, assessments, or charges, or the part thereof so based, shall be deemed to be included within the term “Real Property Taxes” for purposes 10
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16/42 exceeding the following limits: (a) up to $[ * ] if Tenant’s then net worth is less than $[ * ], (b) up to $[ * ] if Tenant’s then net worth is less than $[ * ], (c) up to $[ * ] if Tenant’ net worth is less than $[ * ], and (d) up to $[ * ] if Tenant’s net worth is greater than $[ * ]. The policies shall contain waivers of subrogation with regard to Landlord and the other additional insureds listed in Section 1. The liability policy shall be on an occurrence form and name the entities listed in Section 1 as additional insureds, as their interests may appear. All insurers shall agree not to cancel or amend (including as to scope or amount of coverage) such policies without at least [ * ] prior written notice to Tenant. Tenant shall give Landlord at least [ * ] prior written notice of any such cancellation or amendment, unless such amendment is to increase the scope and or coverage provided under such polices. Tenant shall furnish Landlord with certificates of insurance evidencing the above coverages upon request during the Term as well as a copy of the additional insured endorsement. If Tenant manufactures on the Premises consumer goods, Tenant’s insurance shall include products liability insurance in the amounts specified for commercial general liability insurance. 10.2 Landlord’s Insurance. As part of Operating Expenses, Landlord shall maintain (a) special causes of loss form replacement cost insurance on the Building; (b) commercial general liability insurance insuring Landlord; (c) rental loss insurance; and (d) such other insurance as Landlord elects to carry. The liability insurance obtained by Landlord shall be excess, secondary and non-contributory and Tenant’s insurance shall be primary. Landlord shall not obtain insurance for Tenant’s fixtures or equipment or Tenant’s other property. Operating Expenses shall include the deductibles on Landlord’s coverage. Tenant shall not do or permit anything to be done which invalidates Landlord’s insurance policies or increases the premiums and any such increase shall be paid by Tenant. 10.3 Indemnity. Subject to Landlord’s release in Section 10.4.2, Tenant shall indemnify and defend (using legal counsel acceptable to Landlord) all Landlord Parties (defined below) from any claims, costs (including attorneys’ fees and other litigation costs) or damages (collectively, “Claims”) arising in connection with (a) the occupancy or use of the Premises by Tenant Parties (defined below) and customers, including any work undertaken or contracted for by Tenant; (b) Tenant’s breach of this Lease, (c) any negligent or wrongful act or omission of Tenant Parties or customers; (d) any accident, injury, occurrence or damage in or about the Premises but excluding claims for physical damage to persons or property to the extent caused by Landlord’s gross negligence or willful misconduct or breach of this Lease by Landlord; and (e) any Claim against Landlord by any employee or former employee of Tenant for matters arising in connection with the Premises but only to the extent that any such Claim is not caused by or the result of breach of this Lease by Landlord. Tenant agrees that the provisions of any employee injury insurance act, including Title 51 of the Revised Code of Washington, or any other employee benefit act shall not operate to release or immunize Tenant from its obligations under this Section. This indemnity is not contingent upon insurance coverage, is not limited to the amount of any insurance proceeds, and operates independently of the insurance provisions of this Lease. The term “Landlord Parties” shall mean Landlord, any mortgagees, Washington Capital Management, Inc. (“WCM”), the property manager, and their respective members, partners or other owners and affiliates, subsidiaries, successors and assigns. The term “Tenant Parties” means Tenant, Tenant’s shareholders, members, partners or other owners, Tenant’s affiliates and subsidiaries, and any directors, officers, employees, sublessees, licensees, invitees, agents, contractors and successors and/or assigns of such persons or entities. 10.4 Waivers. 10.4.1 Tenant Waiver. Tenant hereby releases, waives and discharges the Landlord Parties from any and all claims Tenant might otherwise now or hereafter possess associated with, any loss covered by insurance (or which would have been covered by the insurance Tenant is required to carry hereunder), including the deductible portion thereof, regardless of cause. 16
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24/42 deed of trust encumbering the Project whose name and address has been furnished to Tenant and such parties shall have the right but no obligation to cure the default on Landlord’s behalf. Landlord shall not be in default under this Lease unless Landlord (or such ground lessor, mortgagee or beneficiary) fails to cure such non-performance within [ * ] after receipt of Tenant’s notice, or such longer period as is reasonably necessary for the cure. 16. LIABILITY 16.1 Landlord’s Liability. The liability of Landlord to Tenant shall be limited to the interest of Landlord in the Project (and the proceeds thereof). Tenant agrees to look solely to Landlord’s interest in the Project (and the proceeds thereof) for the recovery of any judgment against Landlord, and Landlord and its owners shall not be personally liable for any such judgment or deficiency after execution thereon or matters related to this Lease. In addition, if Landlord sells or otherwise transfers the Project to a new owner, provided the assignee assumes the Landlord’s obligations under this Lease arising after the date of the transfer, the transferring Landlord shall not thereafter be named or sought after in any matter related to the Project relating to the time period after the transfer and responsibility for those matters shall automatically transfer to the new owner. 16.2 Tenant’s Business Interruption. Notwithstanding any other provision of this Lease, and to the fullest extent permitted by law, Tenant hereby agrees that Landlord shall not be liable for injury to Tenant’s personal property or its business or any loss of income therefrom, whether such injury or loss results from conditions arising upon the Premises or the Project, or from other sources or places including any interruption of services and utilities or any casualty, condemnation, whether the cause of such injury or loss or the means of repairing the same is inaccessible to Landlord or Tenant and including injury of loss to Tenant or Tenant’s property arising from the acts or omissions of other occupants of the Project. 16.3 WCM. If this Lease is signed by Washington Capital Management, Inc. (“WCM”), WCM signs the Lease in a representative capacity as manager of the limited liability company which is Landlord. Tenant acknowledges that WCM has no liability whatsoever under this Lease and Tenant shall have no claims against WCM, its agents or employees in connection with this Lease or the Project. WCM represents and warrants that it is authorized to execute this Lease on behalf of the Landlord. 17. HAZARDOUS MATERIALS 17.1 Compliance. Tenant and Tenant’s officers, contractors, subcontractors, licensees, agents, servants, employees, guests, invitees or visitors, or any assignee or sublessee or other person for whom Tenant would otherwise be liable (individually, a “Tenant Party” and collectively, “Tenant Parties”) shall comply with all Environmental Laws (as defined below) in connection with Tenant’s or Tenant Parties use, production, storage or disposal of any Hazardous Materials (as defined below) on, under or about the Premises. Tenant hereby represents, warrants, covenants and agrees that all operations or activities upon, or any use or occupancy of the Premises, or any portion thereof, by Tenant or any Tenant Party of the Premises or any portion thereof, shall be in all material respects in compliance with all state, federal and local laws and regulations governing or in any way relating to the generation, handling, manufacturing, treatment, storage, use, transportation, spillage, leakage, dumping, discharge or disposal (whether legal or illegal, accidental or intentional) of any Hazardous Materials. Neither Tenant, nor any Tenant Party shall use or dispose of any Hazardous Materials in or on the Premises, the Building, the Project, or any adjacent property, or in any improvements thereto, except for such Hazardous Materials as are essential to the operation of Tenant’s and Tenant Parties’ business and reported to Landlord upon request, and then only in accordance with all applicable laws and regulation. Tenant shall, and shall ensure that all Tenant Parties shall, at all times comply with Environmental Laws and best industry standard research, medical and safety practices in connection with the use, handling, production storage or disposal of any Hazardous Material, including, but not limited, to any Medical Products (as defined below), at Tenant’s sole expense. 24
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25/42 17.2 Definition of Hazardous Materials. As used herein, the term “Hazardous Materials” means any chemical, compound, substance, material, controlled substance, object, condition, waste, living organism or part thereof (including genetic materials), virus or combination or modification thereof which is or may be hazardous to human health or safety or to the environment (whether potentially injurious to persons and property and whether potentially injurious by themselves or in combination with other materials) due to its radioactivity, ignitability, corrosivity, reactivity, explosivity, toxicity, carcinogenicity, mutagenicity, phytotoxicity, infectiousness or other harmful or potentially harmful properties or effects, including, without limitation, petroleum and petroleum products, asbestos, radon, polychlorinated biphenyls (PCBs) and all of those chemicals, substances, materials, controlled substances, objects, conditions, wastes, living organisms or combinations thereof which are now or become in the future listed in the United States Department of Transportation Hazardous Materials Table [ * ], as amended from time to time, or listed, defined or regulated in any manner by any Environmental Law. 17.3 Definition of Environmental Laws. As used herein, the term “Environmental Laws” means any and all federal, state or local environmental, health and/or safety-related laws, regulations, standards, decisions of courts, ordinances, rules, codes, orders, decrees, directives, guidelines, permits or permit conditions, currently existing and as amended, enacted, issued or adopted in the future relating to the environment or to any Hazardous Material (including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601, et seq.), the Washington Model Toxics Control Act (Ch.70.l0SD RCW) and the Washington Hazardous Waste Management Act (Ch.70.105 RCW) which are or become applicable to Tenant or the Premises. 17.4. Definition of Medical Products. As used herein, the term “Medical Products” means all regulated substances, chemicals, compounds, drugs, blood, tissue, organs, serums, organisms or part thereof (including genetic materials), viruses, waste and other materials related thereto and used in connection with medical treatment, laboratory analysis, production or analysis of drugs, or other biomedical research. 17.5 Definition of Environmental Condition. As used herein, the term “Environmental Condition” means any release or spill of any Hazardous Materials into the environment, including surface water, groundwater, drinking water supply, sewer or storm water drain, land, soil, surface or subsurface strata or the ambient air, where such release or spill is potentially in. violation of Environmental Laws or is required to be reported to the Washington State Department of Ecology or other appropriate governmental authority. 17.6 Tenant Improvements. Tenant and Tenant Parties shall design and construct their tenant improvements, including any upgraded HVAC and plumbing systems, using best available commonly used industry technique designed to ensure that Tenant’s and Tenant Parties’ Hazardous Materials do not compromise the air quality outside the Premises or allow the possibility of water system back- up into the Building or otherwise migrate to any adjacent space. In particular, Tenant shall use, and shall require Tenant Parties’ best available commonly used industry techniques to prevent air mixing from areas of potential contamination into other areas of the Building. Tenant shall indemnify and hold Landlord harmless from and against any and all losses, expenses, liabilities, penalties or costs arising directly or indirectly from Tenant’s or Tenant Parties’ failure to isolate building systems or to cause an Environmental Condition in areas of the Project outside the Premises as a result of its design or construction of the tenant improvements. 17.7 Hazardous Materials Inventory Statement. Tenant shall deliver (or cause Tenant Parties to deliver) to Landlord (a) within [ * ] after Lease execution and prior to Tenant’s first draw request for the TI Allowance, and (b) on request not more often than once each year during the Term, a list specifying the type and quantity of all Hazardous Materials used or stored by Tenant or Tenant Parties on the Premises (and attached hereto as Exhibit H, as amended from time to time) together with copies of all permits, licenses and approvals required in connection with the use or storage of such materials, 25
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30/42 other than to carry out the purposes hereof; provided, however, Landlord shall be permitted to divulge the contents of any such statements in connection with financing arrangements or assignments of Landlord interest in the Premises or in conjunction with any administrative or judicial proceeding in which Landlord is involved and where Landlord is required to divulge such information. 18.14 No Reservation/Counterparts. The submission of this Lease for examination, or for execution by Tenant, does not constitute a reservation or option to Lease the Premises and this Lease becomes effective as a lease only upon execution and delivery thereof by Landlord and Tenant. At Landlord’s election, this Lease may be executed in counterparts and when all counterparts are executed, the counterparts shall constitute a single binding instrument. 18.15 Authority. Tenant represents and warrants that each individual executing this Lease on behalf of Tenant or its constituents is duly authorized to execute and deliver this Lease on behalf of said entity. Concurrently with the execution of this Lease, Tenant shall deliver to Landlord any entity resolutions or consents requested by Landlord to evidence such authority. Where Tenant is comprised of more than one person or entity, all covenants and obligations of Tenant hereunder shall be the joint and several covenants and obligations of each person or entity comprising Tenant. Any action permitted or required of Landlord under this Lease may, at Landlord’s election, be performed by Landlord’s property manager on Landlord’s behalf. 18.16 Intentionally Omitted. 18.17 Utility Deregulation. Tenant acknowledges that Landlord shall have sole control over the determination of which utility providers serve the Project, and Landlord shall have no obligation to give access or easement rights or otherwise allow onto the Project any utility providers except those approved by Landlord, in its commercially reasonable discretion. If, for any reason, Landlord permits Tenant to purchase utility services from a provider other than Landlord’s designated company(ies), such provider shall be considered a contractor of Tenant. In addition, Tenant shall allow Landlord to purchase such utility service from Tenant’s provider at Tenant’s rate or at such lower rate as can be negotiated by the aggregation of Landlord’s tenants’ requirements for such utility. 18.18 Clean Air Act. Tenant acknowledges that Landlord has not made any portion of the Premises or the Building accessible for smoking. If Tenant wishes to make any portion of the Premises accessible to smoking, Tenant shall make all improvements necessary to comply with all applicable governmental regulations. Tenant acknowledges that Tenant’s indemnity contained in this Lease includes claims based on the presence of tobacco smoke as a result of the activities of Tenant, its employees, agents or guests. 18.19 Choice of Law and Venue. This Lease shall be governed by the law of the state where the Project is located and the parties agree that venue shall lie in King County, Washington. 18.20 Nondisclosure of Lease Terms. Unless Landlord elects otherwise, the terms and conditions of this Lease constitute proprietary information of Landlord that Tenant will keep confidential. Tenant’s disclosure of the terms of this Lease could adversely affect Landlord’s ability to negotiate other leases and/or impair Landlord’s relationship with other tenants. Accordingly, Tenant will not directly or indirectly disclose the terms or conditions of this Lease to any person or entity other than Tenant’s employees, agents, lenders, attorneys or accountants who have a legitimate need to know such information and who also agree to keep the same confidential or pursuant to requirements of a regulatory agency, such as the Securities and Exchange Commission, in which case Tenant shall use reasonable efforts to redact confidential portions of the Lease prior to disclosing. 18.21 Regulations. Tenant shall comply with the terms and conditions of any of the following applicable to the Project and any subsequent changes thereto: (a) CC&R’s, REA’s or other covenants 30
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33/42 LANDLORD: WCM HIGHLANDS II, LLC a Washington limited liability company By: Washington Capital Management, Inc. its Manager By: /s/ Xxxxxxx X. X’Xxxxxx Xxxxxxx X. X’Xxxxxx, Senior Vice President Date Signed: May 9, 2011 TENANT: SEATTLE GENETICS, INC. a Delaware corporation By: /s/ Xxxx X. Xxxxxxx Xxxx X. Xxxxxxx, President & CEO Date Signed: May 9, 2011 Signature Page
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34/42 L ANDLORD’S ACKNOWLEDGMENT STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) I certify that I know or have satisfactory evidence that Xxxx X. Xxxxxxx is the person who appeared before me, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as President of Washington Capital Management, Inc., Manager of WCM HIGHLANDS II, LLC, to be the free and voluntary act of such party for the uses and purposes mentioned in this instrument. Dated: May 9, 2011 . /s/ Xxxxxxxx Xxxxxx (Signature of Notary Public) Xxxxxxxx Xxxxxx (Printed Name of Notary Public) My Appointment expires 8-20-14 (Insert notary seal here) T ENANT’S ACKNOWLEDGMENT STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) I certify that I know or have satisfactory evidence that Xxxx X. Xxxxxxx is the person who appeared before me, and said person acknowledged that he/she signed this instrument, on oath stated that he/she was authorized to execute the instrument and acknowledged it as the President and CEO of SEATTLE GENETICS, INC. to be the free and voluntary act of such party for the uses and purposes mentioned in this instrument. Dated: May 9, 2011 /s/ Xxx X. Xxxxxxx (Signature of Notary Public) Xxx X. Xxxxxxx (Printed Name of Notary Public) (Insert notary seal here) My Appointment expires 10-09-14 Signature Page
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35/42 EXHIBIT X X XXXX DESCRIPTION OF PROJECT TRACT 41-B OF BINDING SITE PLAN RECORDED UNDER AUDITOR’S FILE NUMBER 9804295003, SAID TRACT BEING A PORTION OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 29, TOWNSHIP 27 NORTH, RANGE 5 EAST. SITUATE IN THE COUNTY OF SNOHOMISH, STATE OF WASHINGTON. A-1
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36/42 EXHIBIT B I NTENTIONALLY OMITTED B-1
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37/42 EXHIBIT C W ORK LETTER [ * ] C-1
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38/42 EXHIBIT D R ULES AND REGULATIONS [ * ] D-1
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39/42 EXHIBIT E T ENANT’S ERISA CERTIFICATE [ * ] X-0
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00/00 XXXXXXX F L IST OF EQUIPMENT TENANT IS PERMITTED TO REMOVE F-1
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41/42 EXHIBIT G P ROPOSED SPACE PLAN [ * ] G-1
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42/42 EXHIBIT H D ISCLOSURE OF HAZARDOUS MATERIALS [ * ] H-1