ADDENDUM NO. 3 TO LEASE
This is an Addendum to the Lease dated June 1, 1993 in which BioTime, Inc., a
California corporation, is referred to as "Lessee." The following changes are
hereby incorporated. In the event of a conflict of terms, those of this Addendum
shall prevail.
1. The Premises are hereby expanded to include the entire building at 000 Xxxxxx
Xxxxxx, Xxxxxxxx, Xxxxxxxxxx being approximately 8890 square feet on two levels,
and its adjacent parking area. The additional space, comprising approximately
3,000 square feet, is referred to as the "Expansion Space."
2. Regarding Paragraph 1: The term shall be Five (5) years commencing April 1,
1999.
3. Regarding Paragraph 2: Rent shall be Five Thousand Five Hundred Dollars
($5,500.00) per month prior to Lessor's delivery of the Expansion Space to
Lessee. Upon Lessee's possession of the Expansion Space, rent shall increase to
Ten Thousand Dollars ($10,000.00) per month for the entire premises. If the
Expansion Space is delivered to Lessee on a day other than the first day of a
calendar month, the rent shall be prorated at the rate of Thirty-Seven Cents
($0.037) per square foot per day.
4. Regarding Paragraph 14: Lessee shall pay for all utilities and refuse
collection.
5. Regarding Paragraph 29: Rental for any holding over shall be Eleven Thousand
Dollars ($11,000.00) per month as stated in said paragraph.
6. Regarding Paragraph 33: On each anniversary of the lease, rent shall be
increased according to the increase in the Consumer Price Index during the
previous year, except that no single increase shall be less than three percent
(3%) nor greater than seven percent (7%). The Consumer Price Index shall be the
consumer price index (All Urban Consumers, base year 1982-84=100) for San
Francisco Oakland - San Xxxx CMSA published by the United States Department of
Labor, Bureau of Labor Statistics.
7. Regarding Paragraph 34: Lessee shall have one (1) option to extend the lease
for an additional three (3) years on the same terms and conditions stated in
said paragraph.
8. Possession: Lessor shall deliver possession of the Expansion Space to Lessee
June 30, 1999 or on such earlier date on which the Expansion Space becomes
vacant and meets the conditions of Xxxxxxxxx 0X of this Addendum.
9. Condition of Premises at Commencement: As-is excepting the following which
shall be the Lessor's obligation:
1
A. Lessor shall inspect wood floors on the second floor and repair and
strengthen as required.
X. Xxxxxx shall modify shed to provide for its use as a parking space.
C. The Expansion Space shall be in good condition and repair, broom swept
clean and free of all personal property, equipment, furniture and trade
fixtures of the prior tenant.
10. Early Termination: At any time after the expiration of the eighteen (18)
month of the new lease term, Lessee may terminate the lease by so notifying
Lessor in writing no less than six (6) months prior to the intended termination
date.
/s/ Xxxxxx X. Xxxxxx 2/8/99
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for BioTime, Inc., Lessee Date
/s/ Xxxx Xxxxx 2/8/99
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Lessor Date
