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Document Preview Industrial Lease |
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Title: |
Industrial Lease |
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Entities: |
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Date: |
2005 |
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Size: |
Preview shows 44KB of 156KB total |
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Price: |
$72 |
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ID: |
#1415309 |
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INDUSTRIAL LEASE
(Multi-Tenant; Net)
AS-IS
BETWEEN
THE IRVINE COMPANY
AND
CRYOCOR, INC.
INDEX TO LEASE
| ARTICLE I. | BASIC LEASE PROVISIONS | |
| ARTICLE II. | PREMISES | |
| Section 2.1 | Leased Premises | |
| Section 2.2 | Acceptance of Premises | |
| Section 2.3 | Building Name and Address | |
| Section 2.4 | Landlords Responsibilities | |
| ARTICLE III. | TERM | |
| Section 3.1 | General | |
| Section 3.2 | Delay in Possession | |
| Section 3.3 | Early Entry to Premises | |
| ARTICLE IV. | RENT AND OPERATING EXPENSES | |
| Section 4.1 | Basic Rent | |
| Section 4.2 | Operating Expenses | |
| Section 4.3 | Security Deposit | |
| Section 4.4 | Letter of Credit | |
| ARTICLE V. | USES | |
| Section 5.1 | Use | |
| Section 5.2 | Signs | |
| Section 5.3 | Hazardous Materials | |
| ARTICLE VI. | COMMON AREAS; SERVICES | |
| Section 6.1 | Utilities and Services | |
| Section 6.2 | Operation and Maintenance of Common Areas | |
| Section 6.3 | Use of Common Areas | |
| Section 6.4 | Parking | |
| Section 6.5 | Changes and Additions by Landlord | |
| ARTICLE VII. | MAINTAINING THE PREMISES | |
| Section 7.1 | Tenants Maintenance and Repair | |
| Section 7.2 | Landlords Maintenance and Repair | |
| Section 7.3 | Alterations | |
| Section 7.4 | Mechanics Liens | |
| Section 7.5 | Entry and Inspection | |
| ARTICLE VIII. | TAXES AND ASSESSMENTS ON TENANTS PROPERTY | |
| ARTICLE IX. | ASSIGNMENT AND SUBLETTING | |
| Section 9.1 | Rights of Parties | |
| Section 9.2 | Effect of Transfer | |
| Section 9.3 | Sublease Requirements | |
| Section 9.4 | Certain Transfers | |
| ARTICLE X. | INSURANCE AND INDEMNITY | |
| Section 10.1 | Tenants Insurance | |
| Section 10.2 | Landlords Insurance | |
| Section 10.3 | Tenants Indemnity | |
| Section 10.4 | Landlords Nonliability | |
| Section 10.5 | Waiver of Subrogation | |
| ARTICLE XI. | DAMAGE OR DESTRUCTION | |
| Section 11.1 | Restoration | |
| Section 11.2 | Lease Governs | |
| ARTICLE XII. | EMINENT DOMAIN | |
| Section 12.1 | Total or Partial Taking | |
| Section 12.2 | Temporary Taking | |
| Section 12.3 | Taking of Parking Area | |
| ARTICLE XIII. | SUBORDINATION; ESTOPPEL CERTIFICATE; FINANCIALS | |
| Section 13.1 | Subordination | |
| Section 13.2 | Estoppel Certificate | |
| Section 13.3 | Financials | |
(i)
| ARTICLE XIV. | DEFAULTS AND REMEDIES | |
| Section 14.1 | Tenants Defaults | |
| Section 14.2 | Landlords Remedies | |
| Section 14.3 | Late Payments | |
| Section 14.4 | Right of Landlord to Perform | |
| Section 14.5 | Default by Landlord | |
| Section 14.6 | Expenses and Legal Fees | |
| Section 14.7 | Waiver of Jury Trial | |
| Section 14.8 | Satisfaction of Judgment | |
| Section 14.9 | Limitation of Actions Against Landlord | |
| ARTICLE XV. | END OF TERM | |
| Section 15.1 | Holding Over | |
| Section 15.2 | Merger on Termination | |
| Section 15.3 | Surrender of Premises; Removal of Property | |
| ARTICLE XVI. | PAYMENTS AND NOTICES | |
| ARTICLE XVII. | RULES AND REGULATIONS | |
| ARTICLE XVIII. | BROKERS COMMISSION | |
| ARTICLE XIX. | TRANSFER OF LANDLORDS INTEREST | |
| ARTICLE XX. | INTERPRETATION | |
| Section 20.1 | Gender and Number | |
| Section 20.2 | Headings | |
| Section 20.3 | Joint and Several Liability | |
| Section 20.4 | Successors | |
| Section 20.5 | Time of Essence | |
| Section 20.6 | Controlling Law | |
| Section 20.7 | Severability | |
| Section 20.8 | Waiver and Cumulative Remedies | |
| Section 20.9 | Inability to Perform | |
| Section 20.10 | Entire Agreement | |
| Section 20.11 | Quiet Enjoyment | |
| Section 20.12 | Survival | |
| ARTICLE XXI. | EXECUTION AND RECORDING | |
| Section 21.1 | Counterparts | |
| Section 21.2 | Corporate and Partnership Authority | |
| Section 21.3 | Execution of Lease; No Option or Offer | |
| Section 21.4 | Recording | |
| Section 21.5 | Amendments | |
| Section 21.6 | Executed Copy | |
| Section 21.7 | Attachments | |
| ARTICLE XXII. | MISCELLANEOUS | |
| Section 22.1 | Nondisclosure of Lease Terms | |
| Section 22.2 | Guaranty | |
| Section 22.3 | Changes Requested by Lender | |
| Section 22.4 | Mortgagee Protection | |
| Section 22.5 | Covenants and Conditions | |
| Section 22.6 | Security Measures | |
| Section 22.7 | JAMS | |
| EXHIBITS | ||
| Exhibit A | Description of Premises | |
| Exhibit B | Environmental Questionnaire | |
| Exhibit C | Landlords Disclosures | |
| Exhibit D | Insurance Requirements | |
| Exhibit E | Rules and Regulations | |
| Exhibit Y | Project Site Plan | |
(ii)
INDUSTRIAL LEASE
(Multi-Tenant; Net)
AS-IS
THIS LEASE is made as of the 1st day of November, 2000, by and between THE IRVINE COMPANY, hereafter called Landlord, and CRYOCOR, INC., a Delaware corporation, hereinafter called Tenant.
ARTICLE I. BASIC LEASE PROVISIONS
Each reference in this Lease to the Basic Lease Provisions shall mean and refer to the following collective terms, the application of which shall be governed by the provisions in the remaining Articles of this Lease.
| 1. | Premises: Suite No. 150 (the Premises are more particularly described in Section 2.1). |
Address of Building: 9717 Pacific Heights Blvd., San Diego, CA
| 2. | Project Description (if applicable): Cornerstone Corporate Center |
| 3. | Use of Premises: General office, research and development, light assembly and distribution, and any other lawful uses permitted by applicable zoning codes, provided that in no event shall any of the sales of any products or services on a retail basis be permitted on or about the Premises. |
| 4. | Commencement Date: December 1, 2000 |
| 5. | Lease Term: The Term of this Lease shall expire at midnight on November 30, 2005. |
| 6. | Basic Rent: Nineteen Thousand Seven Hundred Fifty-Five Dollars ($19,755.00) per month, based on $.99 per rentable square foot. |
Basic Rent is subject to adjustment as follows:
Commencing December 1, 2001, the Basic Rent shall be Twenty Thousand Seven Hundred Fifty-Three Dollars ($20,753.00) per month, based on $1.04 per rentable square foot.
Commencing December 1, 2002, the Basic Rent shall be Twenty One Thousand Seven Hundred Fifty-One Dollars ($21,751.00) per month, based on $1.09 per rentable square foot.
Commencing December 1, 2003, the Basic Rent shall be Twenty Two Thousand Seven Hundred Forty-Nine Dollars ($22,749.00) per month, based on $1.14 per rentable square foot.
Commencing December 1, 2004, the Basic Rent shall be Twenty Three Thousand Seven Hundred Forty-Six Dollars ($23,746.00) per month, based on $1.19 per rentable square foot.
| 7. | Guarantor(s): None |
| 8. | Floor Area of Premises: approximately 19,955 rentable square feet |
| 9. | Security Deposit: $26,121.00 [see also Section 4.4 for Letter of Credit requirements] |
| 10. | Broker(s): Irving Hughes/Colliers International |
| 11. | Additional Insureds: Insignia/ESG, Inc. |
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| 12. | Address for Payments and Notices: |
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LANDLORD |
TENANT | |
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THE IRVINE COMPANY c/o Insignia/ESG, Inc. 43 Discovery, Suite 120 Irvine, CA 92618 |
CRYOCOR, INC. 9717 Pacific Heights Blvd., Suite 150 San Diego, CA 92121 | |
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with a copy of notices to: |
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THE IRVINE COMPANY |
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dba Irvine Industrial Company |
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P.O. Box 6370 |
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Newport Beach, CA 92658-6370 |
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Attn: Vice President, Industrial Operations |
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| 13. | Tenants Liability Insurance Requirement: $2,000,000.00 |
| 14. | Vehicle Parking Spaces: Seventy (70) parking spaces (four (4) of which spaces shall be Visitor) |
2
ARTICLE II. PREMISES
SECTION 2.1. LEASED PREMISES. Landlord leases to Tenant and Tenant leases from Landlord the premises shown in Exhibit A (the Premises), containing approximately the floor area set forth in Item 8 of the Basic Lease Provisions and known by the suite number identified in Item 1 of the Basic Lease Provisions. The Premises are located in the building identified in Item 1 of the Basic Lease Provisions (which together with the underlying real property, is called the Building), and is a portion of the project shown in Exhibit Y (the Project). Tenant understands that the floor area set forth in Item 8 of the Basic Lease Provisions may include, at Landlords option, a factor approximating the total square footage of any common lobby or internal common features of the Building times the ratio of the actual square footage of the Premises to the total square footage of the Building.
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