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Commercial Lease

 

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Title:

Commercial Lease

Entities:

Interleukin Genetics, Inc.; Clematis LLC

Date:

2004

Size:

Preview shows 14KB of 43KB total

Price:

$38

ID:

#205019

 

 

► Leasing ► Commercial ► By State ► Massachusetts Commercial Lease Agreements
► Healthcare ► Healthcare Facilities

 

 

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COMMERCIAL LEASE

 

WHEREAS the Parties hereto are presently Lessor and Lessee under a lease agreement dated June 8, 2001 for 6,011 Square Feet +/- of Premises on the third floor of 135 Beaver St, (the Original Lease) and

 

WHEREAS the Parties have agreed to an expansion of the aforesaid Premises, and an extension of the term of the Original Lease.

 

NOW THEREFORE the Parties agree to a new lease agreement to be effective upon the dates and conditions stated below, to replace the Original Lease which shall be moot upon the effective date of the new lease.

 

 

1.                                       PARTIES:

 

Clematis LLC, a Massachusetts Limited Liability Company, with a principal place of business at 411 Waverley Oaks Road, Suite 340, Waltham, MA, 02452, LESSOR, which expression shall include its heirs, successors, and assigns where the context so admits, does hereby lease to Interleukin Genetics, Inc., a Delaware  Corporation with a principal place of business at 135 Beaver Street, Waltham, MA  02452, LESSEE, which expression shall include its successors, executors, administrators, and assigns where the context so admits, and the LESSEE hereby leases the following described premises:

 

 

2.                                       PREMISES:

 

19,000 square feet + or - on the third floor at 135 Beaver Street, Waltham, MA, 02452.  Together with the right to use in common, with others entitled thereto, the hallways, stairways, and elevators, necessary for access to said leased premises, and lavatories nearest thereto, as well as the non exclusive use of sixty five (65) parking spaces serving the building.

 

3.                                       TERM:

 

The term of this lease shall be for five years commencing on April 1, 2004, or upon substantial completion of the build out, which ever is later (the Rent Commencement Date) and ending on March 31, 2009.

 

4.                                       RENT:

 

The LESSEE shall pay to the LESSOR rent at the rate of $437,000.00 dollars per year, payable in advance in monthly installments of $36,417.00, commencing on the Rent Commencement Date.  Thereafter, during the term of the lease, LESSEE shall pay rent and additional rent to the LESSOR monthly, in advance, not later than the first day of each calendar month.

 



 

5.                                       SECURITY DEPOSIT:

 

The LESSEE shall maintain, at all times, a Security Deposit equivalent, at a minimum, to one months Rent, presently $36,417.00. This Security Deposit obligation includes lease renewals and extensions.

 

6.                                       ADDITIONAL RENT:

 

A.  TAX ESCALATION:  If any tax year commencing with the fiscal year ending June 2004, the real estate taxes on the land and buildings, of which the leased premises are a part, are in excess of the amount of the real estate taxes thereon for the fiscal year ending June 2003    (hereinafter called the Base Year), LESSEE will pay to LESSOR as additional rent hereunder, when and as designated by notice in writing by LESSOR, 19.8 percent of such excess that may occur in each year of the term of this lease or any extension or renewal thereof and proportionately for any part of a fiscal year.  If the LESSOR obtains an abatement of any such excess real estate tax, a proportionate share of such abatement, less the reasonable fees and costs incurred in obtaining the same, if any, shall be refunded to the LESSEE.  LESSEE percent of expense is calculated as follows: Premises 19,000 sq. ft., divided by total building 95,989 sq. ft. equals 19.8%.

 

B. OPERATING COST ESCALATION:  The LESSEE shall pay to the LESSOR as additional rent hereunder when and as designated by notice in writing by LESSOR, 19.8% of any increase in operating expenses over those incurred during the calendar year 2003.  Operating expenses are defined for the purposes of this agreement in Exhibit E.

 

This increase shall be prorated should this lease be in effect with respect to only a portion of any calendar year.

 

7.                                       UTILITIES:

 

The LESSEE shall pay, as they become due, all bills for electricity and other utilities (whether they are used for furnishing heat or other purposes) that are furnished to the leased premises, or are servicing the leased premises exclusively.  The LESSOR agrees to provide all other utility service and  reasonable heat and air conditioning (except to the extent that the same are furnished through separately metered utilities or separate fuel tanks as set forth above) to the leased premises, during normal business hours on regular business days of the heating and air conditioning seasons of each year, to furnish elevator service and to light passageways and stairways during business hours, and to furnish such cleaning service as is customary in similar buildings in said city or town.  LESSOR shall not be liable for damages for any reason, or for any inconvenience, interruption or consequences resulting from the failure of utilities or any service due to any accident, to the making of repairs, alterations, or improvements, to labor difficulties, to trouble in obtaining fuel, electricity, service, or supplies from the sources from which they are usually obtained for said building, or to any cause beyond the LESSORs control.  If such cause is the result of the negligent act or


 

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