EXHIBIT 10.8
RED BRANCH CENTER
0000 Xxx Xxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx
FIRST AMENDMENT TO LEASE
________________________
THIS FIRST AMENDMENT TO LEASE made this 13th day of September, 2000,
by and between RED BRANCH CENTER, LLC, successor to Columbia Warehouse
Limited Partnership and Glenborough Properties, L.P. (hereinafter
"Landlord") and IGENE BIOTECHNOLOGY, INC. (hereinafter "Tenant").
WHEREAS, Tenant and Columbia Warehouse Limited Partnership executed
a lease agreement dated December 15, 1995 (hereinafter the "Lease"),
for certain commercial premises known as 0000 Xxx Xxxxxx Xxxx, Xxxx
X, X, X & J, Columbia, Maryland (hereinafter the "Premises") the terms
and conditions of which Lease are incorporated herein by reference and
expressly acknowledged to be binding upon Tenant; and
WHEREAS, all right, title and interest under the lease was assigned
from Columbia Warehouse Limited Partnership to Glenborough Properties,
L.P. and subsequently assigned from Glenborough Properties, L.P. to
Red Branch Center, LLC on or about February, 2000; and
WHEREAS, the term of the lease expires January 31, 2001, and
WHEREAS, the parties desire to amend the Lease by extending the term
thereof and adjusting the rent and other charges due thereunder, all
upon the terms and condtions herein contained.
NOW, THREFORE, in consideration of $1.00, the Premises, the mutual
promises herein contained, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the
parties covenant and agree as follows:
1. TERM: The term of the Lease hereby is extended for an additional
three (3) years commencing February 1, 2001 and terminating on January
31, 2004 (hereinafter "Extended Term").
2. BASE RENT: Tenant shall pay to Landlord monthly Base Rent
throughout the Extended Term as follows:
TERM MONTHLY
______________ __________
2/1/01-1/31/02 $ 7,208.00
2/1/02-1/31/03 $ 7,496.32
2/1/03-1/31/04 $ 7,796.17
All Base Rent shall be payable without notice, demand or set off
in advance on the first day of each month at the address set forth
in the Lease, or at such place as the Landlord designated or may
designate from time to time.
3. COMMON AREA EXPENSES: Tenant shall include with every monthly
installment of Base Rent set forth in Section 2, its estimated
pro-rata share of all common area operating expenses for the Property.
For purposes hereof, Tenant's estimated monthly share of operating
expenses shall be $1,236.66, subject to year end adjustment based
upon actual charges as set forth in the Lease.
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4. UTILITIES: Tenant shall remain solely responsible for the
payment of all utility charges associated with its use and occupancy
of the Premises.
5. BROKERAGE: Landlord and Tenant recognize Site Leasing, Inc.
("Agent") as the sole broker involved in this transaction, and each
party shall defend and indemnify the other for claims of any other
agents in connection with this transaction. Agent has provided the
form of this Lease for the convenience of Landlord and Tenant
without representation regarding its form or contents. Landlord
and Tenant have each individually consulted legal counsel (or
had the opportunity to consult legal counsel and chose not to
do so) and expressly waive any claim whatsoever against the Agent
arising from the form of this Lease.
6. Rider No. 1 titled "Right of First Refusal" and Rider No. 2
titled "Renewal Option" contained in the Lease are hereby deleted
in their entirety.
7. Tenant hereby covenants and warrants that Tenant is a duly
constituted corporation qualified to do business in Maryland and
the person executing this First Amendment to Lease is duly
authorized by the board of director of Tenant to execute and
deliver this Lease on behalf of Tenant.
8. Except as expressly modified hereby, all terms and conditions
of the Lease shall remain in full force and effect as if expressly
incorporated herein by reference. In the event of any conflict
between the lease and this First Amendment, the terms of this First
Amendment shall govern and control.
IN WITNESS WHEREOF, the parties have executed this Amendment to
lease as of the date and year first written above intending it to
be a document under seal.
WITNESS: LANDLORD: RED BRANCH CENTER, LLC
/s/ Xxxxxxx Xxxx BY: /s/ Xxxxxx X. Xxxx
_____________________________ _____________________________
WITNESS: TENANT: IGENE BIOTECHNOLOGY, INC.
/s/ Xxxxxxx X. Xxxxx BY: /s/ Xxxxxxx X. Xxx, Ph.D.
_____________________________ _____________________________
President
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