EXHIBIT 10.17
Second Amendment, dated 1 February 1998, to Lease Agreement
between Fort Washington Realty Trust and Vertex Pharmaceuticals Incorporated
Dated 1 March 1993
Fort Washington Realty Trust and Vertex Pharmaceuticals Incorporated, hereby
agree to amend the First Amendment to and the current lease on 000 Xxxxxx
Xxxxxx, Xxxxxxxxx, dated 1 March 1993, as follows:
page 2, Section 2 & 3 of original lease and line 3 of First
Amendment: Extension of term
Term: 1 February 1997 through 31 December 1998
Rent: 15,750 sq It at $15.24/sq ft/yr= $240,000/yr = $20,000/month
Additional Term: 1 January 1999 through 31 December 2000
Rent: 15,750 sq ft at $18.00/sq ft/yr= $283,500/yr = $23,625/month
page 36, Section 11.10: Option to extend beyond first extension:
Tenant's option to Extend: 1 January 2001 through 31 December 2003
Rent for Option Period: 15,750 sq ft at $21.33/sq ft/yr
= $336,000/yr = $28,000/month
Triple-net of all taxes, insurance, utilities, and operating expenses.
This Second Amendment replaces the First Amendment in its entirety
All other provisions of said lease shall remain unchanged.
Signatories certify that they are empowered to commit their respective
organizations in matters pertaining to this agreement, executed in
February 1998.
LESSOR: LESSEE:
/S /S
-------------------------------- -------------------------------------
Fort Washington Realty Trust Vertex Pharmaceuticals Incorporated
By: Xxxxx X. Xxxx, Trustee By: Xxxxxxx X. Xxxxxxx,
Xxxxxxxxx X. Xxxx, Trustee Senior VP, Chief Business Officer
Date: 30 January, 1998 Date: 2 February 1998
