AMERICAN INDUSTRIAL REAL ESTATE ASSOCIATION
STANDARD INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE - NET
1. Basic Provisions.
1.1 Parties: This Lease (“Lease”), dated for reference purposes only, July , 2005 is made by and between 31 COLUMBIA, INC., a Nevada corporation (“Lessor”), and CLARIENT, INC., a Delaware corporation (“Lessee”), (collectively the “Parties,” or individually a “Party”).
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 as 31 Columbia, Aliso Viejo, located in the County of Orange, State of California with zip code 92656, and generally described as: a single-tenant flex building with surrounding on-site parking area (“Premises”). (See also Paragraph 2.)
1.3 Term: Ten years (“Original Term”) commencing December 1, 2005 for that portion of the Premises designated as “Phase I” (30,000 square feet); June 1, 2006 for that portion of the Premises designated as “Phase II” (35,000 square feet); and on December 1, 2008 for that portion of the Premises designated as “Phase III” (13,365 square feet) (each, a “Commencement Date”) and ending for all Phases November 30, 2015 (“Expiration Date”), subject to the other terms hereof (see Paragraph 3). Lessee shall have those options to extend the term as set forth on Addendum “C”.
1.4 Early Possession: Lessee will be provided Early Possession within five (5) days following mutual execution of the Lease (the “Early Possession Date”), subject to the other terms hereof (see Paragraphs 3.2 and 3.3).
1.5 Base Rent: $39,000.00 per month for Phase I only (30,000 square feet); (“Base Rent”), (See Addendum B for Base Rent Adjustments) plus $7,685.00 Common Area Operating Expenses (see Addendum A, Item D for Common Area Operating Expense Adjustments) for a total Monthly Remittance of $46,685.00 payable on the first day of each month commencing December 1, 2005 (See Paragraph 4 for further provisions).
RENT CHECKS ARE PAYABLE TO 31 COLUMBIA, INC. AND ARE DUE ON THE FIRST OF EACH MONTH. Please remit to:
31 Columbia, Inc.
c/o Olen Commercial Realty Corp.
Seven Corporate Plaza
Newport Beach, California 92660
1.6 Base Rent and Other Monies to be Paid Upon Execution of this Lease:
(a) Base Rent: $39,000.00 for the period December 1, 2005 continuing through November 30, 2006 (See Addendum B for Base Rent adjustments)
(b) Common Area Operating Expenses: $7,685.00 for the period December 1, 2005 continuing through May 31, 2006. (See Addendum A, Item D for Common Area Operating Expense Adjustments)
(c) Security Deposit: $3,000,000.00 Letter of Credit in substantially the form attached hereto as Exhibit C (as further described herein, the “Letter of Credit”) due on the earlier of (i) fifteen (15) days after the mutual execution of this Lease, or (ii) the date on which Lessee first requests application of the Tenant Improvement Allowance (as defined herein) ( “Security Deposit”). (See also Paragraph 5)
(d) Other: $N/A