LEASE DATED August 9, 2019 by and between IIP-PA 4 LLC, a Delaware limited liability company and PHARMACANN PENN PLANT LLC, a Pennsylvania limited liability company LEASE AGREEMENTLease Agreement • August 12th, 2019 • Innovative Industrial Properties Inc • Real estate • Pennsylvania
This Lease Agreement (this “Lease“), dated August 9, 2019 (the “Execution Date”), is made between IIP-PA 4 LLC, a Delaware limited liability company (“Landlord“), and PHARMACANN PENN PLANT LLC, a Pennsylvania limited liability company (“Tenant“).
DEVELOPMENT AGREEMENTDevelopment Agreement • August 12th, 2019 • Innovative Industrial Properties Inc • Real estate • Pennsylvania
Budget Scott Township, PA 22,576 sf PEMB 30,704 sf Greenhouse Code Description 08/01/19 Scope Budget Target Variance Target Budget Summary $1,953,860 $1,298 $1,955,158 1 PharmaCann Soft Costs Not Included 2 PharmaCann FFE & Equipment Costs $26,920,977 $(4,267,090) $22,653,887 3 Construction Costs Not Included 4 Temporary Grow $28,874,837 $(4,265,792) $24,609,045 5 $3,320,606 $- $3,320,606 6 Owner's Project Contingency $32,195,443 $(4,265,792) $27,929,651 Add Alternates (Future) 1 Program Changes Contingency $1,000,000 $- $1,000,000 $1,000,000 $- $1,000,000 Soft Costs PharmaCann Costs Design Costs 1 Civil - GPI $81,630 $- $81,630 2 Architect - Envision (Contract Fixed Fee) $140,000 $- $140,000 3 Architect - Envision (Additional Services - Redesign) $- $25,000 $25,000 4 Architect - Envision (Hourly) $- $26,298 $26,298 5 Wetlands Delineation - GPI $17,800 $- $17,800 6 Structural - GPI $42,550 $- $42,550 7 MEP - ME $115,000 $- $115,000 8 Design Costs Total $396,980 $51,298 $448,278 AHJ Fee
MULTI-PARTY PA AGREEMENTMulti-Party Pa Agreement • August 12th, 2019 • Innovative Industrial Properties Inc • Real estate • Delaware
This Multi-Party PA Agreement (the “Multi-Party PA Agreement”) is made as of this 9th day of August, 2019 between and among IIP-PA 4 LLC, a Delaware limited liability company (the “Landlord”); PHARMACANN PENN PLANT LLC, a Pennsylvania limited liability company (the “Tenant”); and MEDMEN ENTERPRISES INC., a British Columbia corporation (“MedMen”).
