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Lease |
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Date: |
2000 |
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$69 |
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#288444 |
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LEASE
by and between
21 ERIE REALTY TRUST,
Landlord
and
REPROGENESIS, INC.,
Tenant
{PAGE}
ARTICLE I
REFERENCE DATA
1.1 SUBJECTS REFERRED TO:
{TABLE}
{S} {C}
APPROXIMATE TERM: Ten (10) years plus additional months as set forth
in Section 2.2
BUILDING: The Building of which the Premises are a part,
known and numbered as 21 Erie Street, Cambridge,
Massachusetts, currently containing approximately
49,304 r.s.f. subject to remeasurement in
accordance with the provisions of Section 2.1
BUILDING ADDRESS: 21 Erie Street
Cambridge, Massachusetts
ANNUAL BASE RENT: $10.00 per rentable square foot ("r.s.f.")
INITIAL ESTIMATED ANNUAL
ADDITIONAL RENT: $5.50 per r.s.f.
LANDLORD: David E. Clem and David M. Roby, Trustees of 21
Erie Realty Trust
LANDLORD'S MANAGING AGENT'S ADDRESS: c/o McNeil Management, Inc.
320 Norwood Park South
Norwood, MA 02062
LANDLORD'S REPRESENTATIVE: David Clem
LEASE YEAR: Each consecutive period of twelve (12) calendar
months commencing on the Commencement Date.
LOT: The land shown on Exhibit A-1 and more
particularly described on Exhibit A-2 attached
hereto.
OPTIONS TO EXTEND: One (1) five (5) year term
PERMITTED USES: General office, research and development,
laboratory and light manufacturing.
{/TABLE}
{PAGE}
{TABLE}
{S} {C}
PREMISES: Approximately 32,725 r.s.f. of space in the
Building, as shown on Exhibit A, consisting of
---------
Suites 1 through 5 on the First Floor of the
Building and Suites 4, 5, 6 and 9 on the Second
Floor of the Building (hereinafter referred to as
the "Premises") subject to remeasurement in
accordance with the provisions of Article 2.1.
PUBLIC LIABILITY INSURANCE LIMITS: Bodily injury: $10,000,000
Property Damage: $10,000,000
RIGHT OF FIRST REFUSAL: Approximately 18,000 r.s.f. of space on the Second
Floor of the Building and any additional space
added to the Building
TERM COMMENCEMENT DATE: (a) September 25, 1997 as to First Floor, Suite 5
--
(b) October 1, 1997 as to Second Floor Suites 4,
5 and 6;
(c) January 1, 1998 as to Suites 1, 2, 3 and 4 on
First Floor and Suite 9 on Second Floor
SECURITY DEPOSIT: Four Months Rent, subject to adjustment in
accordance with Section 10.11 hereof).
TENANT: Reprogenesis, Inc.
TENANT'S ADDRESS 800 Huntington Avenue
(For Notice and Billing): Boston, MA 02115
TENANT ALLOWANCE: N/A
TENANT'S DESIGN COMPLETION DATE: N/A
TENANT'S PROPORTIONATE FRACTION: 66.4%, subject to adjustment in connection with
the remeasurement as provided in Section 2.1
hereof.
TERM EXPIRATION DATE: December 31, 2007
{/TABLE}
-2-
{PAGE}
1.2 EXHIBITS.
The Exhibits listed below in this section are incorporated in this Lease by
reference and are to be construed as a part of this Lease:
EXHIBIT A. Leased Premises
EXHIBIT A-1. Lot Site Plan
EXHIBIT A-2. Legal Description of Lot
EXHIBIT B. Plans and Specifications
EXHIBIT C. Rules and Regulations
EXHIBIT D. Floor Load Limits
EXHIBIT E. Landlord's Services
EXHIBIT F. Rentable Square Footage of Suites
Comprising the Premises
1.3 TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I REFERENCE DATA........................................................ 1
1.1 Subjects Referred To:................................................. 1
1.2 Exhibits.............................................................. 3
1.3 Table Of Contents..................................................... 3
ARTICLE II PREMISES AND TERM..................................................... 6
2.1 Premises.............................................................. 6
2.2 Term.................................................................. 6
2.3 Access................................................................ 7
ARTICLE III IMPROVEMENTS.......................................................... 7
3.1 As Is; Initial Construction........................................... 7
3.2 Preparation Of Premises For Occupancy................................. 7
3.3 General Provisions Applicable To Construction......................... 8
3.4 Construction Representatives.......................................... 8
3.5 Alterations And Additions............................................. 8
ARTICLE IV RENT.................................................................. 9
4.1 Fixed Rent............................................................ 9
4.2 Additional Rent....................................................... 10
4.2.1 Real Estate Taxes..................................................... 10
4.2.2 Insurance............................................................. 11
4.2.3 Utilities............................................................. 13
4.2.4 Common Area Maintenance and Expenses.................................. 14
{/TABLE}
-3-
{PAGE}
{TABLE}
{S} {C}
4.2.5 Payments on Account of Taxes, Insurance and Utilities................. 18
4.2.6 Equitable Adjustment of Additional Rent............................... 19
4.3 Late Payment Of Rent.................................................. 19
ARTICLE V TENANT'S ADDITIONAL COVENANTS......................................... 19
5.1 Affirmative Covenants................................................. 19
5.1.1 Perform Obligations................................................... 19
5.1.2 Occupancy and Use..................................................... 19
5.1.3 Repair and Maintenance................................................ 20
5.1.4 Compliance with Law................................................... 21
5.1.5 Tenant's Work......................................................... 23
5.1.6 Indemnity............................................................. 24
5.1.7 Landlord's Right to Enter............................................. 24
5.1.8 Personal Property at Tenant's Risk.................................... 25
5.1.9 Payment of Landlord's Cost of Enforcement............................. 25
5.1.10 Yield Up.............................................................. 25
5.1.11 Estoppel Certificate.................................................. 25
5.1.12 Landlord's Expenses Re Consents....................................... 26
5.1.13 Rules and Regulations................................................. 26
5.1.14 Loading............................................................... 26
5.1.15 Holdover.............................................................. 26
5.2 Negative Covenants.................................................... 27
5.2.1 Assignment and Subletting; Mortgaging................................. 27
5.2.2 Nuisance.............................................................. 29
ARTICLE VI CASUALTY OR TAKING.................................................... 30
6.1 Termination........................................................... 30
6.2 Restoration........................................................... 30
6.3 Award................................................................. 30
ARTICLE VII. DEFAULTS.............................................................. 31
7.1 Events Of Default..................................................... 31
7.2 Remedies.............................................................. 32
7.3 Remedies Cumulative................................................... 33
7.4 Landlord's Right To Cure Defaults..................................... 33
7.5 Effect Of Waivers Of Default.......................................... 33
7.6 No Accord And Satisfaction............................................ 33
ARTICLE VIII MORTGAGES............................................................. 34
8.1 Rights Of Mortgage Holders............................................ 34
8.2 Priority Of Lease; Subordination...................................... 34
{/TABLE}
-4-
{PAGE}
{TABLE}
{S} {C}
8.3 Lease Amendments...................................................... 35
8.4 No Existing Mortgage.................................................. 35
ARTICLE IX LANDLORD'S ADDITIONAL COVENANTS....................................... 35
9.1 Affirmative Covenants................................................. 35
9.1.1 Perform Obligations................................................... 35
9.1.2 Repairs............................................................... 36
9.1.3 Compliance with Law................................................... 36
9.1.4 Indemnity............................................................. 36
9.1.5 Estoppel Certificate.................................................. 37
9.1.6 Utilities............................................................. 37
ARTICLE X MISCELLANEOUS PROVISIONS.............................................. 37
10.1 Notices From One Party To The Other................................... 37
10.2 Quiet Enjoyment....................................................... 37
10.3 Easements; Changes To Lot Lines....................................... 37
10.4 Lease Not To Be Recorded.............................................. 38
10.5 Bind And Inure; Limitation Of Landlord's Liability.................... 38
10.6 Acts Of God........................................................... 38
10.7 Landlord's Default.................................................... 38
10.8 Brokerage............................................................. 39
10.9 Applicable Law And Construction....................................... 39
10.10 Submission Not An Offer............................................... 39
10.11 Security Deposit...................................................... 39
10.12 Options To Extend..................................................... 40
10.13 Right Of First Refusal................................................ 41
10.14 Confidential Information.............................................. 42
10.15 Signage............................................................... 42
10.16 Parking............................................................... 42
{/TABLE}
-5-
{PAGE}
ARTICLE II
PREMISES AND TERM
2.1 PREMISES.
Landlord hereby leases and demises to Tenant and Tenant hereby leases from
Landlord, subject to and with the benefit of the terms, covenants, conditions
and provisions of this Lease, the Premises. Tenant shall have, as appurtenant
to the Premises, the right to use in common with others entitled thereto (i) the
common facilities included in the Building or on the Lot, and (ii) the building
service fixtures and equipment serving the Premises. In addition, Landlord
together with the affiliates referred to in Section 10.16, hereby grant Tenant
the parking rights more particularly set forth in Section 10.16, and Tenant
agrees to lease certain parking spaces, all subject to the terms and conditions
of Section 10.16.
The rentable area of the Premises shall be measured upon completion of the
second floor corridor in accordance with the Building owners and Managers
Association International ANSI Z 65.1 Method @ 1990 (the "BOMA Method") and said
calculation shall be used, retroactive to the Term Commencement Date, as the
actual rentable square footage of the Premises as defined herein and in Article
1.1.
Landlord reserves the right from time to time, upon reasonable advance
notice (except in the case of an emergency), without unreasonable interference
with Tenant's use, (a) to install, repair, replace, use, maintain and relocate
for service to the Premises and to other parts of the Building or either,
building service fixtures and equipment wherever located in the Building,
provided, however, that the Annual Fixed Rent, Additional Rent (as defined in
Section 4.2 hereof) and other charges payable hereunder by Tenant shall be
proportionally reduced in the event that any such installation or relocation of
service reduces the usable floor area of the Premises (other than a temporary
reduction to accommodate installation, repair, replacement, maintenance and
relocation of such service) (in no event, however, shall such activities by
Landlord cause a material reduction in the square footage of the Premises) ; and
(b) to alter or relocate any common facilities, provided that in all events (1)
substitutions are in compliance with applicable zoning and other laws and (2)
substitutions are substantially equivalent. Landlord shall give Tenant a
reasonable opportunity to have any such access by Landlord described in this
Section 2.1 supervised by a Tenant representative.
The Premises shall be subject to expansion in accordance with the terms of
Section 10.13.
2.2 TERM.
To have and to hold for a period (the "Term") commencing on the Term
Commencement Date (excluding, however, Tenant's occupying of Suite 2, Second
Floor of the Building) as set forth in Section 1.1 and continuing until the Term
Expiration Date, unless sooner terminated as provided in Section 3.2 or in
Article VII, and subject to extension in accordance with the terms of Section
10.12 hereof.
-6-
{PAGE}
2.3 ACCESS.
Tenant shall have access to the Building by separate entrance to the
Building on Erie Street as shown on the Plans and Specifications (as defined
hereinafter) and the Premises twenty-four (24) hours a day, seven (7) days a
week, three hundred sixty-five (365) days a year. Tenant's access after Normal
Business Hours (as defined hereafter) is by a telephone intercom system
installed in the Building. Tenant is responsible for security of the Premises
after Normal Business Hours. "Normal Business Hours" shall mean the hours of
7:00 a.m. through 6:00 p.m. Monday through Friday and no hours on legal
holidays, Saturdays and Sundays.
ARTICLE III
IMPROVEMENTS
3.1 AS IS; INITIAL CONSTRUCTION.
Tenant acknowledges that it has had an opportunity to inspect the Premises.
The Premises shall be delivered to Tenant As Is, Where Is, with all faults and
without representation, warranty or guaranty of any kind by Landlord to Tenant.
Nothing in the preceding sentence is intended to relieve Landlord of any of its
maintenance and repair responsibilities set forth in this Lease. Tenant at its
sole cost and expense shall prepare all construction drawings and specifications
(the "Plans and Specifications") shown on Exhibit B for initial improvements
---------
("Leasehold Improvements") to the Premises and submit the same to Landlord for
Landlord's review and written approval, which approval shall not be unreasonably
withheld or delayed. The approval rights of Landlord and the construction
obligations of Landlord are subject to the remaining provisions of this Article
III.
3.2 PREPARATION OF PREMISES FOR OCCUPANCY.
Tenant agrees to diligently perform the Leasehold Improvements and to use
best efforts to complete the Leasehold Improvements. Landlord shall permit
Tenant access to the Building and the Premises for purposes of constructing the
Leasehold Improvements immediately upon full execution of this Lease, which
occupancy by Tenant shall be subject to all of the terms and conditions of the
Lease.
Tenant shall have thirty (30) days from the date of execution of this Lease
to engage Aries Engineering and/or any other environmental engineering firm
selected by Tenant for the purpose of conducting a Phase-I Environmental Site
Assessment (the "Site Assessment") of the Premises. Landlord shall provide
reasonable access to the Premises for the purpose of conducting the Site
Assessment. In the event the Site Assessment is unsatisfactory to Tenant in its
reasonable discretion, Tenant shall have the right within said thirty (30) days
to terminate this Lease by written notice to Landlord ("Notice of Termination").
Tenant's right to terminate this Lease shall be Tenant's sole and exclusive
remedy without further recourse to either party. In the event Tenant does not
deliver the Notice of Termination to Landlord, Tenant shall be deemed to have
waived its right to terminate the Lease under this Section 3.2.
-7-
{PAGE}
3.3 GENERAL PROVISIONS APPLICABLE TO CONSTRUCTION.
All construction work required or permitted by this Lease, shall be done by
Tenant in a good and workmanlike manner and in compliance with all applicable
laws and all lawful ordinances, regulations and orders of any governmental
authority and insurers of the Building and the Lot (provided that Landlord shall
be responsible for such compliance with respect to the Building, other than the
Premises). Landlord may inspect the work of Tenant at reasonable times and
shall give notice of observed defects.
3.4 CONSTRUCTION REPRESENTATIVES.
Each party authorizes the other to rely in connection with their respective
rights and obligations under this Article III upon approval and other actions on
the party's behalf by any person designated by such party as its Representative
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