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Office Building Lease

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Date:
2008
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OFFICE BUILDING LEASE
BETWEEN
CAMBRIC PARTNERS,
AN ARIZONA GENERAL PARTNERSHIP
“LANDLORD”
AND
IMARX THERAPEUTICS, INC.,
A DELAWARE CORPORATION
“TENANT”

 


 

LEASE SUMMARY
ImaRx Therapeutics, Inc.
     
Date:
  December 10, 2007
 
   
Tenant:
  IMARX THERAPEUTICS, INC.,
 
  A DELAWARE CORPORATION
 
   
Premises:
  1730 East River Road, Suite 200 of the second (2nd) floor, City of Tucson, State of Arizona 85718 consisting of approximately 7,849 rentable square feet
 
   
Building:
  Cambric Corporate Center
 
   
Term:
  Sixty (60) months
 
Lease Commencement:
  January 1, 2008 or upon substantial completion of Tenant Improvements
 
   
Lease Expiration:
  December 31, 2012
 
   
Primary Term Rent:
  See Schedule “G”
 
   
Pre-Paid Rent:
  Landlord requires prepaid rent in the amount of $15,698.00 plus 2.5% tax for a total of $16,090.45 which shall be applied to the basic rent for January 2008.
 
   
Security Deposit:
  $19,433.47
 
   
Total due at
   
Lease execution:
  $35,523.92
 
   
Proportionate Share:
  7,849 S.F. (Leased Premises) ¸ 163,368 S.F. (Building) = 4.80%
 
   
Operating Expenses:
  2008 Base Year
 
   
Tenant Improvements:
  See Schedule “H”
 
   
Parking:
  See Schedule “I”
 
   
Guarantor:
   
 
   
Signage:
  Suite and directory signs shall be at the sole cost of Tenant.
 
   
Monthly Rental
   
Remittance Address:
  Cambric Partners
 
  P.O. Box 22055
 
  Tempe, AZ 85285-2055
 
   
 
  All Checks Must Be Made Payable to Cambric Partners
 
   
Notice Address:
  2301 Campus Drive, Suite 200
 
  Irvine, CA 92612
         
Standard Lease Form      
Form FSGLI (894)        
3/27/2008        

 


 

INDEX
         
    Page  
 
1. LEASED PREMISES
    1  
 
       
2. TERM
       
(a) Term
    1  
(b) Delay in Occupancy
    2  
(c) Holding Over
    2  
 
       
3. RENT
       
(a) Basic Rent
    2  
(b) Additional Rent
    2  
(i) Taxes
    2  
(ii) Operating Costs
    2  
(c) Payment — Additional Rent
    3  
(d) Accrual of Rent
    3  
(e) Recovery of Rent
    3  
(f) Limitations
    3  
(g) Late Fees
    4  
 
       
4. SECURITY DEPOSIT
    4  
 
       
5. GENERAL COVENANTS
       
(a) Landlord’s Covenant
    4  
(b) Tenant’s Covenant
    4  
 
       
6. USE AND OCCUPANCY
       
(a) Use
    5  
(b) Waste, Nuisance, etc.
    5  
(c) Insurance Risks
    5  
(d) Compliance with Law
    5  
(e) Environmental Compliance
    5  
(f) Rules and Regulations
    5  
 
       
7. ASSIGNMENT AND SUBLETTING
       
(a) Restriction on Transfer
    5  
(b) Corporate and Partnership Transfers
    6  
(c) Permitted Controlled Transfers
    6  
(d) Transfer Notice
    6  
(e) Landlord’s Options
    7  
(f) Reasonable Disapproval
    7  
(g) Additional Conditions
    7  
(h) Excess Rent
    8  
(i) Termination Rights
    8  
(j) No Release
    9  
(k) Administrative and Attorneys’ Fees
    9  
 
       
8. REPAIR AND DAMAGE
       
(a) Landlord’s Repairs to Building and Property
    9  
(b) Landlord’s Repairs to the Leased Premises
    9  
(c) Tenant’s Repairs
    10  
(d) Indemnification
    10  
(e) Damage and Destruction
    10  
         
Standard Lease Form   i    
Form FSGLI (894)        
3/27/2008        

 


 

         
    Page  
 
9. INSURANCE AND LIABILITY
       
(a) Landlord’s Insurance
    11  
(b) Tenant’s Insurance
    12  
(c) Limitation of Landlord’s Liability
    13  
(d) Indemnity of Landlord
    13  
(e) Definition of “Insured Damage”
    13  
 
       
10. EVENTS OF DEFAULT AND REMEDIES
       
(a) Events of Default and Remedies
    13  
(b) Payment of Rent, etc. on Termination
    14  
(c) Tenant to pay on demand
    16  
 
       
ADDITIONAL PROVISIONS
       
 
       
11. Relocation of Leased Premises
    17  
12. Subordination and Attornment
    17  
13. Certificates
    17  
14. Tenant’s Compliance with Gov’t Ordinances, Regulations and Laws
    17  
15. Inspection of and Access to the Leased Premises
    18  
16. Delay
    18  
17. Waiver
    18  
18. Sale, Demolition and Renovation
    18  
19. Construction
    19  
20. Public Taking
    19  
21. Registration of Lease
    19  
22. Entire Lease Agreement
    20  
23. Notices
    20  
24. Interpretation
    20  
25. Extent of Lease Obligations
    20  
26. Prior Use and Occupancy Prior to Term
    21  
27. Alterations, Additions and Improvements
    21  
28. Schedules
    21  
29. Brokers
    22  
         
Definitions of Principal Terms   Paragraph   Page
 
Additional Rent
  3(b)   2
Additional Services
  4(a)(b)   D-2
Basic Rent
  3(a)   2
Building
  1   1
Fiscal Period
  3(c)   2
Insured Damage
  9(e)   13
Landlord
      1
Landlord’s Taxes
  1(d)   C-1
Leased Premises
  1   1
Leasehold Improvements
  1   F-1
Landlord’s Work
  2   F-1
Operating Costs
  5   D-2
Property
  1   1
Public Taking
  20   19
Rent
  3(d)   3
Taxes
  2(d)   C-2
Tenant
      1
Tenant’s Proportionate Share
  2(d)   C-2
Tenant’s Proportionate Share
  8   D-4
Tenant’s Taxes
  2(c)   C-1
Term
  2(a)   1
         
Standard Lease Form   ii    
Form FSGLI (894)        
3/27/2008        

 


 

         
Exhibits   Schedule   Page
 
Legal Description of Lands
  “A”   A-1
Outline of Leased Premises
  “B”   B-1
Taxes payable by Landlord and Tenant
  “C”   C-1
Services and Costs
  “D”   D-1
Rules and Regulations
  “E”   E-1
Leasehold Improvements
  “F”   F-1
Basic Rent
  “G”   G-1
Tenant Improvements
  “H”   H-1
Parking
  “I”   I-1
Guaranty
  “J”   J-1
Tenant Information Sheet
  “K”   K-1
Signage Agreement
  “L”   L-1
License for Antenna Site
  “M”   M-1
Addendum to Lease
  “N”   N-1
         
Standard Lease Form   iii    
Form FSGLI (894)        
3/27/2008        

 


 

THIS AGREEMENT made this 10th day of December 2007
BETWEEN:
CAMBRIC PARTNERS,
an Arizona general partnership having the offices of General Partner,
Colton Properties, Inc., a California corporation
at 2301 Campus Drive, Suite 200
in the City of Irvine
County of Orange
State of California
(Hereinafter called the “Landlord”) OF THE FIRST PART,
—and—
IMARX THERAPEUTICS, INC.,
a Delaware corporation
having an office at 1730 E. River Road, Suite 200
in the City of Tucson
County of Pima
State of Arizona
(Hereinafter called the “Tenant”) OF THE SECOND PART,
In consideration of the rents, covenants and agreements hereinafter contained, the Landlord and Tenant hereby agree as follows:
1. LEASED PREMISES
Leased Premises
The Landlord does demise and lease to the Tenant the premises (the “Leased Premises”) located in a building (the “Building”) having a municipal address of 1730 East River Road, Suite 200 in the City of Tucson, County of Pima, State of Arizona and known as Cambric Corporate Center (the Leased Premises, the Building, together with the lands described in Schedule “A” attached and present and future improvements, additions and changes thereto being herein called the “Property”), the Leased Premises consisting of approximately 7,849 rentable square feet on the second (2nd) floor as shown on the plan marked Schedule “B” attached hereto, excluding the exterior surfaces of the exterior walls of the Leased Premises.
2. TERM
Term
(a) TO HAVE AND TO HOLD the Leased Premises for and during the term of sixty (60) months (the “Term”) to be computed from the 1st day of January 2008, and to be fully complete and ended on the 31st day of December 2012, unless otherwise terminated.
         
Standard Lease Form   1-1    
Form FSGLI (894)        
3/27/2008        

 


 

Delay in Occupancy
(b) If the Leased Premises or any part thereof are not ready for occupancy on the date of commencement of the Term, no part of the “Rent” (as hereinafter defined) or only a proportionate part thereof, in the event that the Tenant shall occupy a part of the Leased Premises, shall be payable for the period prior to the date when the entire Leased Premises are ready for occupancy and the full Rent shall accrue only after such last mentioned date. The Tenant agrees to accept any such abatement of Rent in full settlement of all claims, which the Tenant might otherwise have by reason of the Leased Premises not being ready for occupancy on the date of commencement of the Term. Not withstanding the foregoing, provided that when the Landlord has completed construction of such part of the Leased Premises as it is obliged hereunder to construct, the Tenant shall not be entitled to any abatement of Rent for any delay in occupancy due to the Tenant’s failure or delay to provide plans or to complete any special installations or other work required for its purposes or due to any other reason, nor shall the Tenant be entitled to any abatement of Rent for any delay in occupancy if the Landlord has been unable to complete construction of the Leased Premises by reason of such failure or delay by the Tenant. Notification by the Landlord as to the date the Leased Premises were ready for occupancy and such construction as the Landlord is obliged to complete is substantially completed, or as to the date upon which the same would have been ready for occupancy and completed respectively but for the failure or delay of the Tenant, shall be conclusive and binding on the Tenant and Rent in full shall accrue and become payable from the date set. Not-withstanding any delay in occupancy, the expiration date of this Lease shall remain unchanged. In no event, shall Landlord be liable to Tenant for any


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