SUPPLEMENTAL LEASE AGREEMENT
This Supplemental Lease Agreement is made and entered into this 9th
day of February, 2001 by and between:
Landlord
XXXXXXX REALTY CORPORATION
c/o TIG Real Estate Services, Inc.
P. O. Xxx 000000
Xxxxxx, Xxxxx 00000-0000
and
Tenant
Access Pharmaceuticals, Inc.
0000 Xxxxxxxx Xxxxxxx, Xxxxx 000-000
Xxxxxx, Xxxxx 00000-0000
This Supplemental Lease Agreement shall modify the original Lease
Agreement between Xxxxxxx Realty Corporation (Landlord), and Access
Pharmaceuticals, Inc. (Tenant) dated on or about July 25, 1996 in which
certain real estate and premises therein described and situated in the
County of Dallas, City of Dallas and the State of Texas were demised
and leased by Landlord and Tenant.
It is the sole intent of this Supplemental Lease Agreement to modify the
Original Lease Agreement by the following provisions:
1. Landlord and Tenant hereby agree that effective March 15, 2001 The
Premises shall include Suites 164-176 and the rentable square footage
contained in the Premises is deemed to be 11,684 net rentable square
feet and the rentable square footage of the Building is deemed to be
39,733 net rentable square feet and Tenant's proportionate share of the
Building is 29.41%
2. Beginning on the March 15, 2001 the monthly base rental as
referenced in Paragraph 2.A. of the original Lease Agreement shall be
as follows:
Dates Base Rent
--------------- -----------
3/15/01-3/31/01 $5,312.77
4/1/01-3/31/02 $9,687.98
4/1/02-3/31/03 $9,785.35
4/1/03-3/31/04 $9,882.72
4/1/04-3/31/05 $9,980.08
4/1/05-3/31/06 $10,077.45
3. Landlord, at its sole cost and expense, will replace the 3-ton HVAC
unit serving the conference room in Suite 176.
4. Landlord will provide $40,000.00 for the construction of the
improvements to the Premises. All improvements shall be performed
according to Landlord's specifications and shall include all costs for
architecture/space planning.
5. It is agreed and understood that if Tenant is not in default of any of
the terms, covenants and conditions hereof and Tenant has not assigned
this Lease or sublet the Premises (or part thereof), Tenant shall have the
option to terminate this Supplemental Lease Agreement according to the
dates and terms set forth below. Such termination is conditioned upon
Tenant's providing prior notice to Landlord through registered or
certified mail and upon the payment schedule as follows to Landlord:
* Effective 4/1/03= $60,000.00 plus all unamortized tenant improvements
and all unamortized commissions ($44,772.00)
* Effective 4/1/04= $50,000.00 plus all unamortized tenant
improvements and all unamortized commissions ($29,850.00)
* Effective 4/1/05= $40,000.00 plus all unamortized tenant
improvements and all unamortized commissions ($14,925.00)
The above payment will serve as a termination fee at this time of notice
to Landlord. Notice of Tenant's intention to terminate this Lease
Agreement and payment of termination fee must be received by Landlord
in writing not less than one hundred eighty (180) days prior to the to the
effective date of termination. Said date of termination would be
effective as if thedate had been the original termination date under this
Lease Agreement. Accordingly, Tenant shall be liable and responsible
for its obligation and liabilities under the Lease Agreement, which
include but are not limited to, excess tax assessments. In the event
Tenant fails to deliver such notice of termination and payment of
termination fee within the time period set forth above, this Lease shall
remain in full force and effect.
6. If during the term of this Lease, any of the immediately adjacent
Premises as described or indicated in Exhibit A attached hereto
(hereinafter referred to as the "Adjacent Premises"), shall become
available for lease to third parties, and provided that Tenant is not in
default hereunder and has not assigned this Lease or sublet the Premises
(or part hereof), Tenant shall have the first right and option to lease the
Adjacent Premises subject to the rights of other Tenants in the Building.
When the Adjacent Premises becomes available, Landlord shall first
offer in writing any such Adjacent Premises to Tenant upon the terms
and conditions as would be offered by Landlord to third parties. If
within ten (10) days after Landlord delivers Tenant such written offer,
Landlord does not receive notice in writing that Tenant elects to lease
the Adjacent Premises and within twenty (20) days thereafter Tenant
does not execute an expansion agreement acceptable to Landlord then
Tenant's right to lease the Adjacent Premises shall be waived and tenant
shall have no further rights pursuant to this Paragraph 5.
7. Landlord and Tenant represent each to the other that it has full right
and authority to enter into this Supplemental Lease Agreement.
Except as expressly provided herein all of the other terms and conditions
of the Lease shall remain in effect and unchanged.
SIGNED BY LANDLORD, this 9th day of February, 2001.
XXXXXXX REALTY CORPORATION
BY: /S/ XXXXXXX X. XXXXXXX
-------------------------
PRINTED NAME: XXXXXXX X. XXXXXXX
TITLE: COUNSEL
ADDRESS: C/O TIG REAL ESTATE SERVICES, INC.
P. O. XXX 000000
XXXXXX, XXXXX 00000-0000
PHONE: 000-000-0000
FAX: 000-000-0000
SIGNED BY TENANT, this 9th day of February, 2001.
ACCESS PHARMACEUTICALS, INC.
BY: /S/ XXXXX X. XXXX
-------------------
PRINTED NAME: XXXXX X. XXXX
TITLE: PRESIDENT AND CEO
ADDRESS: 0000 XXXXXXXX XXXXXXX
XXXXX 000
XXXXXX, XXXXX 00000
PHONE: 000-000-0000
FAX: 000-000-0000
EXHIBIT A
ADJACENT PREMISES
0000 Xxxxxxxx Xxxxxxx
Site Plan
