THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE (this "Third Amendment") is made as of June 19, 2020, by and between ARE-SD REGION NO. 35, LLC, a Delaware limited liability company ("Landlord"), and SINGULAR GENOMICS SYSTEMS, INC., a Delaware corporation ("Tenant").
RECITALS
NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
The "Expansion Premises Commencement Date" shall be the date Landlord Delivers the Expansion Premises to Tenant. The "Target Expansion Premises Commencement Date" shall be January 1, 2022. Upon the request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Expansion Premises Commencement Date in the form of the "Acknowledgement of Expansion Premises Commencement Date" attached to the Lease as Exhibit B: provided, however, Tenant's failure to execute and deliver such acknowledgment shall not affect Landlord's rights hereunder.
Except as set forth in this Third Amendment: (i) Tenant shall accept the Expansion Premises In their "as-is" condition as of the Expansion Premises Commencement Date; (ii) Landlord shall have no obligation for any defects in the Expansion Premises; and (iii) Tenant's taking possession of the Expansion Premises shall be conclusive evidence that Tenant accepts the Expansion Premises and that the Expansion Premises were in good condition at the time possession was taken.
During the Term, Tenant shall have the right to use, at no additional cost, the furniture, fixtures and equipment, if any, belonging lo Landlord located in the Expansion Premises as of the Expansion Premises Commencement Date ("Landlord's Expansion Premises Furniture"). Tenant shall have no right to remove any of Landlord's Expansion Premises Furniture from the Expansion Premises at any time during the Term. Tenant shall use reasonable efforts to maintain Landlord's Expansion Premises Furniture and return the same to Landlord at the expiration or earlier termination of the Term in the same condition as received by Tenant, subject to ordinary wear and tear.
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Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Expansion Premises, and/or the suitability of the Expansion Premises for the conduct of Tenant's business, and Tenant waives any implied warranty that the Expansion Premises are suitable for the Permitted Use.
"Premises: That portion of the Building (i) commonly known as Suite F, containing approximately 3,722 rentable square feet (the "Initial Premises"), (ii) commonly known as Suite B and Suite C, containing approximately 12,074 rentable square feet ("Subsequent Premises"), and (iii) commonly known as Suite A, containing approximately 12,685 rentable square feet ("Expansion Premises"), all as determined by Landlord, as shown on Exhibit A."
"Rentable Area of Premises: 28,481 sq. ft."
As of the Expansion Premises Commencement Date, Exhibit A to the Lease shall be amended to include the Expansion Premises described on Exhibit A attached to this Third Amendment.
"Tenant's Share of Operating Expenses of Building: 27.67% (3.62% with respect to the Initial Premises, 11.73% with respect to the Subsequent Premises and 12.32% with respect to the Expansion Premises)"
"Base Term" on page 1 of the Lease is deleted in its entirety and replaced with the following:
"Base Term: Beginning (i) with respect to the Initial Premises on the Commencement Date, (ii) with respect to the Subsequent Premises on the Subsequent Premises Commencement Date, and (iii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending on the date that is 30 days after the Commencement Date (as defined in the Long Term Lease) of the Long Term Lease."
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[Signatures are on the next page]
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IN WITNESS WHEREOF, the parties hereto have executed this Third Amendment as of the day and year first above written.
TENANT:
SINGULAR GENOMICS SYSTEMS, INC.,
a Delaware corporation
By: Name: Drew Spaventa Its: CEO
LANDLORD:
ARE-10933 NORTH TORREY PINES, LLC,
a Delaware limited liability company
By: Alexandria Real Estate Equities, Inc., a Maryland corporation,
managing member
By: Name: Gary Dean
Its: Senior Vice President – Real Estate Legal Affairs
EXHIBIT A
Expansion PREMISES
[Omitted]
EXHIBIT B
Acknowledgment of Expansion Premises Commencement Date
[Omitted]
EXHIBIT C
Expansion Premises Control Areas
[Omitted]
EXHIBIT D
Tenant's Hazmat Safety Storage Area
[Omitted]
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