AMENDMENT NO. 1 TO LEASE
Exhibit
10.1
This
Amendment No. 1 to the Lease (this "Amendment No. 1") is made as of the
7th
day of
July,
2007,
by and between EDISON
SPECTRUM PARTNERS,
a California 116iited liability company ("Lessor") and CombiMatrix Molecular
Diagnostics, Inc., a California Corporation ("Lessee"),
(collectively the "Parties,"
or
individually a "Party").
This
Amendment No. 1 amends and modifies the terms
and
conditions of that certain Lease dated June 26, 2006 (as so amended, the
"Original
Lease"), by and between Lessor and Lessee. The Original Lease, as hereby
amended,
is referred to herein as the "Lease." Capitalized terms which are not otherwise
defined
in this Amendment No. 1 shall have the meanings ascribed to such terms in
the
Original
Lease.
RECITALS
A. Lessor
and Lessee previously entered into the Original Lease, which sets forth the
terms and conditions relating to Lessee's occupancy of certain space, located
at
000
Xxxxxxx Xxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx (the "Premises").
X. Xxxxxx
and Lessee now desire to amend the Original Lease to (i) add Xxxxxxxx
000, Xxxxx 000 to the Premises, (ii) adjust the Basic Rent payable thereunder,
modify the expiration dates on Xxxxxxxx 000, Xxxxx 000 and (iii) set forth
certain other matters
of agreement between Lessor and Lessee.
AGREEMENT
FOR
VALUABLE CONSIDERATION,
the
receipt and sufficiency of which is hereby
acknowledged, Lessor and Lessee hereby agree as follows:
1.
Basic
Lease Provisions.
Paragraphs 1.2, 1.3, 1.4, 1.5, 1.6 and 1.7 of the Basic Lease
Provisions of the Original Lease are hereby deleted in their entirety and
replaced as follows:
1.2
Premises:
That
certain real property, including all improvements therein
or to be provided by Lessor under the terms of this Lease, and commonly known
by
the
street address of 000 Xxxxxxx Xxx, Xxxxx 000 and 000 Xxxxxxx Xxx, Xxxxx 000
located
in the City of Irvine, County of Orange, State of California ("Premises").
(See
Paragraph
2
for further provisions.) The Premises are depicted on Exhibits
"A-1-3" attached
hereto.
1.3
Vehicle
Parking:
Lessee
shall be entitled to twenty seven (27) unreserved
and unassigned vehicle parking spaces, on those portions of the Common
Areas
designated by Lessor for parking for the Original Term (as defined in
Paragraph
1.4
below).
(See Paragraph
2.4
for
further provisions.)
1
1.5
Base
Rent:
Base
rent for the Premises ("Base
Rent")
shall
be payable
on the first (1st) day of each month of the Term hereof as set forth below
upon
delivery
of both Premises. In the event earlier possession of both premises are
delivered, both
parties agree to sign a lease commencement acknowledgement modifying the
commencement
and the ending date of the new lease periods.
Lease
Renewal - 310 Xxxxxxx, Suite 150:
|
Months
of
Term
|
Rentable
Square
Feet
|
Rent
Per Square
Foot
Per Month
|
Monthly
Base
Rent
|
|
September
1, 2007-
|
3,625
|
$2.00
|
$7,250.00
|
|
August
31,2008
|
|
||
|
September
1, 2008-
July
31,2009
|
3,625
|
$2.05
|
$7,431.25
|
Expansion
Space - 000 Xxxxxxx, Xxxxx 000:
|
Months
of
Terms
|
Rentable
Square
Feet
|
Rent
Per Square
Foot
Per Month
|
Monthly
Base
Rent
|
|
August
1, 2007-
|
3,148
|
$2.00
|
$6,296.00
|
|
August
31,2008
|
|||
|
September
1, 2008-
July
31,2009
|
3,148
|
$2.05
|
$6,453.40
|
1.6
Base
Rent Paid Upon Execution:
Only
$6,296.00 as Base Rent applicable
to the first (1st) month of the Term for Premises at 300 Xxxxxxx, suite
150
shall be paid upon execution.
1.7
Lessee
Share of Operating Expenses:
Lessee's
Share is 14.13% (6,773
47,924). (See Paragraph 4.2.1 for further provisions.)"
2. Paragraph
3.3 and all subparagraphs shall be omitted in its entirety.
3. Square
Footage:
All
references in the Original Lease to the rentable square footage
of the Premises shall be deemed to refer to 6,773 square feet.
2
5. Tenant
Improvements.
Lessor
will complete tenant improvements described in "Exhibit A-4" at its sole
cost
and on a turn key basis. Lessee instructs Lessor to postpone commence of
certain
tenant improvements identified and described in Exhibit A-1 and Exhibit A-4
until such time Lessee has taken possession of Premises located at 000 Xxxxxxx,
Xxxxx 000.
6. Counterparts.
If this
Amendment No. 1 is executed in counterparts, each is hereby
declared to be an original; all, however, shall constitute but one and the
same
agreement.
7. Corporate
and Partnership Authority.
If
Lessee is a corporation or partnership, each
individual executing this Amendment No. 1 for the corporation or partnership
represents
that he or she is duly authorized to execute and deliver this Amendment No.
1
on
behalf
of the corporation or partnership and that this Amendment No. I is binding
upon
the
corporation or partnership in accordance with its terms.
8. Effective
Date:
This
Amendment No. 1 shall be deemed effective the date the last party
has
executed same (the "Effective Date"), however this agreement must be signed
by
both
parties within five days from delivery of final lease amendment.
9. Delivery
of Premises:
Lessee
is in possession of the Premises located at 000 Xxxxxxx, Xxxxx 000. Possession
of Premises located at 000 Xxxxxxx, Xxxxx 000 shall be delivered as soon
as
possible, but in no event later than August 1, 2007.
All
other
existing terms and conditions of the Original Lease shall remain in full
force
and
affect.
3
IN
WITNESS WHEREOF,
Lessor
and Lessee have executed this Amendment No.
I as
of the date first written above.
|
Executed
at: Irvine, CA
|
Executed
at: Irvine, CA
|
|
on:
7/07/07
|
on:
7/05/07
|
|
"LESSOR":
|
"COMBIMATRIX
MOLECULAR
|
|
a
California limited liability company
|
DIAGNOSTICS,
INC.
|
|
a
California Corporation
|
|
|
By:
Falcon Capital Corp.,
|
By:
Xxxxxxx Xxxxxxxx
|
|
its
member
|
Chief
Executive Officer
|
|
By:
/s/ signature
|
/s/
Xxxxxxx Xxxxxxxx
|
|
Its:
Member Member
|
Its:
Member President & CEO
|
4
EXHIBIT
"A-1"
PREMISES
Lessee:
CombiMatrix Molecular Diagnostics, Inc.
Address:
000 Xxxxxxx Xxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000
This
Exhibit "A-1" is an approximation and is intended only to identify the location
of the Premised.
5
EXHIBIT
"A-2"
PREMISES
Lessee:
CombiMatrix Molecular Diagnostics, Inc.
Address:
000 Xxxxxxx Xxx, Xxxxx 000, Xxxxxx, Xxxxxxxxxx 00000
This
Exhibit "A-2" is an approximation and is intended only to identify the location
of the Premises.
6
EXHIBIT
"A-3"
SITE
PLAN
7
EXHIBIT
"A-4"
LESSEE
WORK LETTER
Installation;
Lessee Improvement allowance.
| (a) |
Lessor
shall cause the following improvements ("Lessee Improvements")
to be
constructed,
at Lessor's sole cost, in the Premises prior to Lessee's occupancy
as
delineated
on Exhibits A-1.
|
|
1.
|
Remove
door and side light window entry into lab in Xxxxxxxx 000, Xxxxx
000
as delineated in "Exhibit A-1"
|
|
2.
|
Install
new VCT Flooring through center and rear area in Xxxxxxxx 000,
Xxxxx
000 as delineated in "Exhibit A-1"
|
|
3.
|
Cut
passage way in wall between offices as delineated in "Exhibit
A-1"
|
|
4.
|
Touch
up paint in Xxxxxxxx 000, Xxxxx 000 xxx Xxxxxxxx 000 Xxxxx
000.
|
|
5.
|
Construct
"anti-room" in Xxxxxxxx 000, Xxxxx 000 as delineated in "Exhibit
A-1".
|
8
