FOURTH AMENDMENT TO LEASE
FOURTH
AMENDMENT TO LEASE
THIS
FOURTH AMENDMENT TO LEASE ("Amendment") made as of the 7th day
of March,
2007 by and between 111 XXXXXXX ASSOCIATES ("Landlord"), sole beneficiary under
CHICAGO TITLE LAND TRUST COMPANY, as successor trustee to LASALLE BANK
NATIONAL
ASSOCIATION, as successor trustee to AMERICAN NATIONAL BANK AND TRUST
COMPANY OF CHICAGO, under Trust Agreement dated January 1, 1991 and known
as
Trust No. 113370-03 ("Trustee"), and BIOSANTE PHARMACEUTICALS, INC.
("Tenant").
W
I T N E S S E T H:
WHEREAS,
Landlord and Tenant entered into that certain Lease dated December 19, 2003,
as
amended by First Amendment to Lease dated February 26, 2004, as modified by
Letter Amendment dated March 19, 2004 (the "Lease"), as amended by Second
Amendment to Lease dated January 4, 2005, and as amended by Third Amendment
to
Lease dated January 27, 2006, which
Lease demised to Tenant a portion of the 2nd
floor, known as Suite 280 ("Premises") of the building
known as 000 Xxxxxxx Xxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxxx ("Building");
and
WHEREAS,
the parties hereto desire to extend the term of the Lease and to amend the
Lease
in certain other respects.
NOW,
THEREFORE, in consideration of the mutual covenants and conditions contained
herein,
the Lease is hereby further amended as follows:
1. Extended
Term.
The term of the Lease is hereby extended to March 21, 2008 on the same terms
and
conditions as set forth in the Lease, except as modified herein and unless
sooner terminated pursuant to the terms of the Lease.
2. Rent.
As of March 22, 2007, the Base Rent payable under the Lease shall be as
follows:
|
Period
|
Annual
Base Rent
|
Monthly
Installment
|
||
|
3/22/07-3/21/08
|
$90,113.25
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$7,509.43
|
3. Work.
Landlord shall, at Landlord's expense, clean the carpeting in the
Premises.
4. Real
Estate Brokers.
Tenant represents that it has dealt with, and only with Van Vlissingen
and Co., as broker in connection with this Amendment, and that, insofar as
Tenant knows, no other broker negotiated this Amendment or is entitled to any
commission in connection
therewith. Tenant agrees to indemnify and hold Landlord harmless from all
damages, liability and expense (including reasonable attorneys' fees) arising
from any claims or demands of any
other broker or brokers or finders in connection with its participating with
Tenant in the negotiating
of this Amendment.
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5. Lease
in Full Force and Effect.
Except for the provisions of this Amendment, all the terms,
covenants and conditions of the Lease and all the rights and obligations of
Landlord and Tenant
thereunder, shall remain in full force and effect, and are not otherwise
altered, amended, revised or changed.
6. Estoppel.
Tenant and Landlord hereby each acknowledge that as of the date hereof,
they
have no claims arising under the Lease against the other party or its agents,
or
any one or more of the foregoing, and that neither knows of any default or
failure on the part of the other party
to keep or perform any covenant, condition or undertaking to be kept or
performed by such other party under the Lease.
7. Exculpatory
Provisions.
It is expressly understood and agreed by and between the parties
hereto, anything herein to the contrary notwithstanding, that each and all
of
the representations, warranties, covenants, undertakings and agreements herein
made on the part of the Landlord while in form purporting to be the
representations, warranties, covenants, undertakings,
and agreements of the Landlord are nevertheless each and every one of them
made
and
intended, not as personal representations, warranties, covenants, undertakings,
and agreements
by the Landlord or for the purpose or with the intention of binding the Landlord
personally, but are made and intended for the purpose only of subjecting the
Landlord's interest in
the Building, the Land and the Premises to the terms of this Amendment and
for
no other purpose
whatsoever, and in case of default hereunder by the Landlord (or default
through, under, or
by any of its agents or representatives), the Tenant shall look solely to the
interests of the Landlord in the Building and Land.
[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGE
FOLLOWS.]
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IN
WITNESS WHEREOF, the parties have caused this Amendment to be executed on the
date first above written.
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LANDLORD:
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|||||
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111
XXXXXXX ASSOCIATES
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|||||
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By:
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Van
Vlissingen & Co., its authorized agent
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||||
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By:
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/s/ | ||||
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Its:
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President | ||||
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TENANT:
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|||||
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BIOSANTE
PHARMACEUTICALS, INC.
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|||||
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By:
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/s/ Xxxxxxx X. Xxxxxxxxx | ||||
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Its:
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CFO | ||||
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