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Exhibit 10.21
LEASE FOR 000 XXXXXX XXXXXX PROPERTY
1. PARTIES Rizika Realty Trust (whose mailing address is: 00
Xxxxxxxx Xxxx, Xxxxxxxxx, XX 02445), the LESSOR, which
expression shall include his heirs, successors, and
assigns where the context so admits, does hereby lease
to Altus Biologics Inc., the LESSEE, which expression
shall include his heirs, successors, executors, and
administrators where the context so admits, and the
LESSEE hereby leases the following described premises:
2. PREMISES All of the first floor that is cross-hatched in red on
the attached floor plan of the building at 000 Xxxxxx
Xxxxxx, Xxxxxxxxx, a/k/a 00 Xxxxx Xxxxxx and/or 00
Xxxxx Xxxxxx, Xxxxxxxxx, comprising about 7,775 square
feet, together with parking spaces for fourteen (14)
cars, as designated by the LESSOR (the location as
shown on Exhibit A), and with the right to use in
common, with others entitled thereto, the hallways and
stairways necessary for access to said leased
premises.
3. TERM The term of this lease shall be four (4) years,
commencing on April 15, 2002 and ending on April 14,
2006.
4. RENT The LESSEE shall pay to the LESSOR rent at the
following rates:
First Year a. The first year's annual rent shall be three hundred
and twenty-two thousand six hundred and sixty-two
dollars and fifty cents ($322,662.50) to be paid in
advance in equal monthly payments of twenty-six
thousand eight hundred and eighty-eight dollars and
fifty-four cents ($26,888.54) on or before the tenth
day of each month by depositing the same to the
account of the LESSOR (Acct # 1102439611) at the
Citizens Bank in Boston, MA or as may otherwise be
directed by the LESSOR.
The annual rent is the gross rent and includes the
LESSEE's portion of real estate taxes, charges for
sewer and water, insurance (fire and extended coverage
in a minimum coverage of $2,000,000 for fire and
$5,000,000 public liability on the building), heat,
ventilation, air-conditioning, electricity, and snow
removal. However, if there are any substantial
increases in any of the forgoing due to the LESSEE's
actions (other than Lessee's decorative improvements
to the premises such as painting and carpeting, and
Lessee's use of the premises for ordinary office
purposes), the LESSEE will be billed for such charges
and pay them to the LESSOR at the end of each calendar
year.
Excluded from such rental payments are the costs of
any contents, liability, or other insurance necessary
to conduct the business of
Lease for 000 Xxxxxx Xxxxxx Property Page 1.
the LESSEE on the Premises, all of which policies will
be obtained and paid for by the LESSEE. Also excluded
from such rental payments are the costs of cleaning
and other miscellaneous services supplied to the
LESSEE's portion of the building at Lessee's request.
Other Years b. At the end of each 12 months of rent, the annual
rent for the following 12 months will be adjusted by
the increase in the CPI-U ratio over the previous 12
months; in no event shall the annual adjusted rent be
less than the rent for the immediately preceding 12
month period. The CPI-U shall mean the Consumer Price
Index for Urban Consumers for the City of Boston as
published by the US Bureau of Labor Statistics.
5. SECURITY DEPOSIT Upon the execution of this lease, the LESSEE shall pay
to the LESSOR the amount of one hundred and seven
thousand and five hundred dollars ($107,500) which
shall be held as a security for the LESSEE's
performance as herein provided and refunded to the
LESSEE at the end of this lease subject to the
LESSEE's satisfactory compliance with the conditions
hereof.
6. RENT ADJUSTMENTS The LESSEE shall pay monthly in advance to the LESSOR
modified rent as described in Section 4.b.
7. USE OF LEASED The LESSEE shall use the leased premises only for the
PREMISES purpose of offices and/or light manufacturing and
quality control.
8. COMPLIANCE WITH The LESSEE acknowledges that no trade or occupation
LAWS shall be conducted in the leased premises or use made
thereof which will be unlawful, improper, noisy or
offensive, or contrary to any law or any municipal
by-law or ordinance in force in the city or town in
which the premises are situated.
9. FIRE INSURANCE The LESSEE shall not permit any use (other than
ordinary office use) of the leased premises which will
make voidable any insurance on the property of which
the leased premises are a part, or on the contents of
said property or which shall be contrary to any law or
regulation from time to time established by the New
England Fire Insurance Rating Association, or any
similar body succeeding to its powers. The LESSEE
shall on demand reimburse the LESSOR, and all other
tenants, all extra insurance premiums caused by the
LESSEE's use of the premises.
10. MAINTENANCE OF The LESSEE agrees to maintain the leased premises in
PREMISES the same condition as they are at the commencement of
the term or as they may be put in during the term of
this lease, reasonable wear and
Lease for 000 Xxxxxx Xxxxxx Property Page 2.
tear, damage by fire and other casualty only excepted,
and whenever necessary, to replace plate glass and
other glass therein, acknowledging that the leased
premises are now in good order and the glass whole.
The LESSEE shall not permit the leased premises to be
overloaded, damaged, stripped or defaced, nor suffer
any waste. LESSEE shall obtain written consent of
LESSOR, not to be unreasonably withheld, before
erecting any sign on the premises.
However, the LESSOR is responsible for maintaining the
structural integrity of the building, including all
common areas, the roof, exterior walls, parking areas,
and all heating, ventilation, air-conditioning,
plumbing, utility, electric and mechanical systems in
good condition.
11. ALTERATIONS AND The LESSEE shall not make structural alterations or
ADDITIONS additions to the leased premises, but may make
non-structural alterations provided the LESSOR
consents thereto in writing, which consent shall not
be unreasonably withheld or delayed. All such allowed
alterations shall be at LESSEE's expense and shall be
in. quality at least equal to the present
construction. LESSEE shall not permit any mechanics'
liens, or similar liens, to remain upon the leased
premises for labor and material furnished to LESSEE or
claimed to have been furnished to LESSEE in connection
with work of any character performed or claimed to
have been performed at the direction of LESSEE and
shall cause any such lien to be released of record
forthwith without cost to LESSOR. Any alterations or
improvements made by the LESSEE shall become the
property of the LESSOR at the termination of occupancy
as provided herein.
12. ASSIGNMENT AND The LESSEE shall not assign or sublet the whole or any
SUBLEASING part of the leased premises without LESSOR's prior
written consent, which consent shall not be
unreasonably withheld or delayed. Notwithstanding such
consent, LESSEE shall remain liable to LESSOR for the
payment of all rent and for the full performance of
the covenants and conditions of this lease.
If over half of the space is to be sublet, the LESSOR,
at its option, may terminate the lease by giving the
LESSEE such notice in writing at least one month prior
to such termination date.
13. SUBORDINATION This lease shall be subject and subordinate to any and
all mortgages, deeds of trust and other instruments in
the nature of a mortgage, now or at any time
hereafter, a lien or liens on the property of which
the leased premises are a part and the LESSEE shall,
when requested, promptly execute and deliver such
written
Lease for 000 Xxxxxx Xxxxxx Property Page 3.
instruments as shall be necessary to show the
subordination of this lease to said mortgages, deeds
of trust or other such instruments in the nature of a
mortgage.
In the event that the premises are mortgaged, the
Lessor shall obtain from the mortgages of the building
a Nondisturbance Agreement in commercially reasonable
form which recognized the rights of the Lessee under
this lease.
14. LESSOR'S ACCESS The LESSOR or agents of the LESSOR may, at reasonable
times, enter to view the leased premises and may
remove placards upon reasonable notice and signs not
approved and affixed as herein provided, and make
repairs and alterations as LESSOR should elect to do
and may show the leased premises to others, and at any
time within six (6) months before the expirations of
the term, may affix to any suitable part of the leased
premises a notice for letting or selling the leased
premises or property of which the leased premises are
a part and keep the same so affixed without hindrance
or molestation.
15. INDEMNIFICATION AND The LESSEE shall save the LESSOR harmless from all
LIABILITY loss and damage to LESSEE's property occasioned by the
use or escape of LIABILITY water or by the bursting of
pipes, as well as from any claim or damage resulting
from neglect in not removing snow and ice from the
roof of the building or from the sidewalks bordering
upon the premises so leased, or by any nuisance made
or suffered on the leased premises, unless such loss
is caused by the neglect of the LESSOR. The removal of
snow and ice from the sidewalks bordering upon the
leased premises shall be the LESSOR's responsibility.
16. LESSEE'S LIABILITY The LESSEE shall maintain with respect to the leased
INSURANCE premises and the property, of which the leased
premises are a part, comprehensive public liability
insurance in the amount of $2,000,000 for bodily
injury and with property damage insurance in limits of
$1,000,000 with responsible insurance companies
qualified to do business in Massachusetts and in good
standing therein insuring the LESSOR as well as LESSEE
against injury to persons or damage to property as
provided. The LESSEE shall deposit with the LESSOR
certificates for such insurance at or prior to the
commencement of the term, and thereafter within thirty
(30) days prior to the expiration of any such
policies. All such insurance certificates shall
provide that such policies shall not be canceled
without at least ten (10) days prior written notice to
each assured named therein.
Lease for 000 Xxxxxx Xxxxxx Property Page 4.
17. FIRE, CASUALTY, AND Should a substantial portion of the leased premises,
EMINENT DOMAIN or of the property of which they are a part, be
substantially damaged by fire or other casualty, or be
taken by eminent domain, the LESSOR may elect to
terminate this lease. When such fire, casualty, or
taking renders the leased premises substantially
unsuitable for their intended use, a just and
proportionate abatement of rent shall be made, and the
LESSEE may elect to terminate this lease if:
a. the LESSOR fails to give written notice within
thirty (30) days of intention to restore leased
premises, or
b. the LESSOR fails to restore the leased premises to
a condition substantially suitable for their intended
use within ninety (90) days of said fire, casualty, or
taking.
The LESSOR reserves, and the LESSEE grants to the
LESSOR, all rights which the LESSEE may have for
damages or injury to the leased premises for any
taking by eminent domain, except for damage to the
LESSEE's fixtures, property, or equipment.
18. DEFAULT AND In the event that:
BANKRUPTCY
a. the LESSEE shall default in the payment of any
installment of rent or other sum herein specified, and
such default shall continue for five (5) days after
written notice thereof, or
b. the LESSEE shall default in the observance or
performance of any other of the LESSEE's covenants,
agreements, or obligations hereunder and such default
shall not be corrected within thirty (30) days after
written notice thereof, or
c. the LESSEE shall be declared bankrupt or insolvent
according to law, or, if any assignment shall be made
of LESSEE's property for the benefit of creditors,
then the LESSOR shall have the right thereafter, while
such default continues, to re-enter and take complete
possession of the leased premises, to declare the term
of this lease ended, and remove the LESSEE's effects,
without prejudice to any remedies which might be
otherwise used for arrears of rent or other default.
The LESSEE shall indemnify the LESSOR against all loss
of rent and other payments which the LESSOR may incur
by reason of such termination during the residue of
the term. If the LESSEE shall default, after
reasonable notice thereof, in the observance or
performance of any conditions or covenants on LESSEE's
part to be observed or performed under or by virtue of
any of the provisions in any article of this lease,
the LESSOR, without being
Lease for 000 Xxxxxx Xxxxxx Property Page 5.
under any obligation to do so and without thereby
waiving such default, may remedy such default for the
account and at the expense of the LESSEE. If the
LESSOR makes any expenditures or incurs any
obligations for the payment of money in connection
therewith, including but not limited to, reasonable
attorney's fees in instituting, prosecuting or
defending any action or proceeding, such sums paid or
obligations insured, with interest at the rate of ten
(10) per cent per annum and costs, shall be paid to
the LESSOR by the LESSEE as additional rent.
19. NOTICE Any notice from the LESSOR to the LESSEE relating to
the leased premises or to the occupancy thereof, shall
be deemed duly served three days after being mailed to
Xx. Xxxxx Xxxxxxxx, Altus Biologics Inc., 000 Xxxxxx
Xxxxxx, Xxxxxxxxx, XX 00000 by registered or certified
mail, return receipt requested, postage prepaid or at
such other address as Lessee may from time to time
advise in writing. Any notice from the LESSEE to the
LESSOR relating to the leased premises or to the
occupancy thereof, shall be deemed duly served, three
days after being mailed to the LESSOR by registered or
certified mail, return receipt requested, postage
prepaid, addressed to the LESSOR at the address
provided in Clause 1 or at such address as the LESSOR
may from time to time advise in writing.
20. SURRENDER The LESSEE shall at the expiration or other
termination of this lease remove all LESSEE's goods
and effects from the leased premises (including,
without hereby limiting the generality of the
foregoing, all signs and lettering affixed or painted
by the LESSEE, either inside or outside the leased
premises). LESSEE shall deliver to the LESSOR the
leased premises and all keys, locks thereto, and other
fixtures connected therewith and all alterations and
additions made to or upon the leased premises, in the
same condition as they were at the commencement of the
term, or as they were put in during the term hereon,
reasonable wear and tear and damage by fire or other
casualty only excepted. In the event of the LESSEE's
failure to remove any of LESSEE's property from the
premises, LESSOR is hereby authorized, without
liability to LESSEE for loss or damage thereto, and at
the sole risk of LESSEE, to remove and store any of
the property at LESSEE's expense, or to retain same
under LESSOR's control or to sell at public or private
sale, without notice of any or all of the property not
so removed and to apply the net proceeds of such sale
to the payment of any sum due hereunder, or to destroy
such property.
Lease for 000 Xxxxxx Xxxxxx Property Page 6.
21. OTHER PROVISIONS The following other provisions are hereby incorporated
as an integral part of this lease:
a. Smoking - There is a smoke-free environment
associated with this building and, as such, smoking is
not permitted on any part of the Premises.
b. Food - If food is consumed on the Premises, proper
care shall be exercised for its storage and any
residue shall be placed in a sealed container while on
the Premises. It is the responsibility of the LESSEE
to provide for its proper removal and disposal.
c. All additional provisions contained in the side
letter attached hereto as Exhibit B.
22. SEVERABILITY CLAUSE If any provision of this lease, or any portion of any
provision, or the application thereof to any person or
circumstance is held invalid, the remainder of the
lease (or remainder of such provision) and the
application thereof to other persons or circumstances
shall not be affected thereby.
IN WITNESS WHEREOF, the LESSOR and LESSEE have hereunto set their hands and
common seals this 4th day of April, 2002.
/s/ [Illegible] /s/ Xxxxx Xxxxxxxx
------------------------------------- ----------------------------------------
LESSOR (Rizika Realty Trust) LESSEE (Altus Biologics Inc.)
By: Xxxxx Xxxxxxxx
------------------------------------
Name:
----------------------------------
Title: President & CEO
Lease for 000 Xxxxxx Xxxxxx Property Page 7.
EXHIBIT B
LEASE FOR 000 XXXXXX XXXXXX, XXXXXXXXX
XXXX LETTER
4 April 2002
In addition to the terms and conditions stated in the lease dated 4 April, 2002,
the Rizika Realty Trust, the LESSOR, and Altus Biologics Inc., the LESSEE, agree
to the following:
1. Lessee will have an option to extend the term of this Lease for an
additional period of two (2) years to be exercised by written notice
from Lessee to Lessor no less than six (6) months prior to the lease
expiration. All terms and covenants of the lease shall remain the same
with the exception of rent, which shall be renegotiated.
Lessor shall inform the Lessee of the rental rate for the extention
term no later than ten (10) business days after receiving notice that
Lessee desires to exercise the option. Lessee shall accept or decline
option to extend lease no later than ten (10) business days after
being informed of rent for the extension term.
2. It is understood that the Lessor shall be responsible for the one-time
payment of the Broker's fee to CRESA Partners of $3.20 per sq ft of
space rented-- for example, based upon 7,775 sq ft the Broker's fee
would be $24,880. Half of this fee is to be paid at the signing of the
lease; the remaining half is to be paid on the first day of occupancy
by the Lessee.
Lessor and Lessee each mutually covenant, represent and warrant to the
other that it has had no dealings or communications with any broker or
agent in connection with this Lease other than CRESA Partners and each
covenants and agrees to pay, hold harmless and indemnify the other
from and against any and all cost, expense or liability for any
compensation commission or charges to any broker or agent claiming
through the indemnifying party with respect hereto.
3. The Lessee agrees to split the cost of building a separating wall
between it's rental area and the other section of the building. This
cost will not exceed $12,000 for the Lessee.
4. If any utility bills which affect the Lessee are unpaid and remain so
for thirty (30) days, it is agreed that the Lessee shall have the
right to pay them directly and deduct all such payments from the rent.
5. Lessor and Lessee mutually agree that, with respect to any hazard
which is covered by insurance then being carried by them,
respectively, the one carrying such insurance and suffering such loss
releases the other of and from any and all claims with respect to such
loss.
Lease for 000 Xxxxxx Xxxxxx Property Page 8.
6. The Lessee will reasonably expect to have full use of their offices
and space in a fair and useful manner for the period of their lease.
Full use and enjoyment as used herein shall include, without
limitation, the provision of the services required to be provided by
the Lessor hereunder, and freedom from unreasonable interference with
the Lessee's use and occupancy as a result of the construction of any
additions to the building. Lessee shall be entitled to an equitable
abatement of rent if they are not able to have full use of their
offices for more than 30 days and the Lessor has not made changes to
resolve the Lessee's full use of their office.
7. The Lessor shall at all times during the term of this Lease provide
the following services to the Premises at no charge except as set
forth in Section 4 of the Lease: heat, ventilation, air-conditioning,
electricity, water and sewer, all in compliance with applicable laws
and in amounts and in a manner reasonable and sufficient for the safe
and comfortable occupancy of the Premises for the uses permitted
hereunder. Lessor represents that all of the foregoing systems are in
good working order,
8. Lessor indemnifies and holds Lessee harmless from and against all loss
and damage suffered by Lessee on account of Lessor's negligence or
willful misconduct, or, to the best of the Lessor's knowledge, the
presence of hazardous materials (as defined in any applicable federal,
state or local law, rule or regulation) or oil located in, on, under
or at the Premises or the building as of the date of this lease.
9. Lessee is responsible for obtaining a valid certificate of occupancy
for the building which permits the use of the Premises for the uses
permitted under this lease. Lessor represents that, to the best of its
knowledge, (a) there are no outstanding violations of law with respect
to the Premises and (b) the Premises are vacant and free of any
occupancy rights of any other person or entity.
Agreed and accepted:
/s/ [Illegible], Pres. /s/ Xxxxx Xxxxxxxx
------------------------------------- ----------------------------------------
LESSOR (Rizika Realty Trust) LESSEE (Altus Biologics Inc.)
Lease for 000 Xxxxxx Xxxxxx Property Page 9.
EXHIBIT B
LEASE FOR 000 XXXXXX XXXXXX, XXXXXXXXX
XXXX LETTER
4 April 2002
In addition to the terms and conditions stated in the lease dated 4 April, 2002,
the Rizika Realty Trust, the LESSOR, and Altus Biologics Inc., the LESSEE, agree
to the following:
1. Lessee will have an option to extend the term of this Lease for an
additional period of two (2) years to be exercised by written notice
from Lessee to Lessor no less than six (6) months prior to the lease
expiration. All terms and covenants of the lease shall remain the same
with the exception of rent, which shall be renegotiated.
Lessor shall inform the Lessee of the rental rate for the extention
term no later than ten (10) business days after receiving notice that
Lessee desires to exercise the option. Lessee shall accept or decline
option to extend lease no later than ten (10) business days after
being informed of rent for the extension term.
2. It is understood that the Lessor shall be responsible for the one-time
payment of the Broker's fee to CRESA Partners of. $1.60 per sq ft of
space rented-for example, based upon 1,725 sq ft the Broker's fee
would be $2,760. Half of this fee is to be paid at the signing of the
lease; the remaining half is to be paid on the first day of occupancy
by the Lessee.
Lessor and Lessee each mutually covenant, represent and warrant to the
other that it has had no dealings or communications with any broker or
agent in connection with this Lease other than CRESA Partners and each
covenants and agrees to pay, hold harmless and indemnify the other
from and against any and all cost, expense or liability for any
compensation commission or charges to any broker or agent claiming
through the indemnifying party with respect hereto.
3. If any utility bills which affect the Lessee are unpaid and remain so
for thirty (30) days, it is agreed that the Lessee shall have the
right to pay them directly and deduct all such payments from the rent.
4. The Lessee will reasonably expect to have full use of their offices
and space in a fair and useful manner for the period of their lease.
Full use and enjoyment as used herein shall include, without
limitation, the provision of the services required to be provided by
the Lessor hereunder, and freedom from unreasonable interference with
the Lessee's use and occupancy as a result of the construction of any
additions to the building. Lessee shall be entitled to an equitable
abatement of rent if they are not able to have full use of their
offices for more than 30 days and the Lessor has not made changes to
resolve the Lessee's full use of their office.
Lease for 000 Xxxxxx Xxxxxx Property Page 8.
5. The Lessor shall at all times during the term of this Lease provide
the following services to the Premises at no charge except as set
forth in Section 4 of the Lease: heat, ventilation, air-conditioning,
electricity, water and sewer, all in compliance with applicable laws
and in amounts and in a manner reasonable and. sufficient for the safe
and comfortable occupancy of the Premises for the uses permitted
hereunder. Lessor represents that all of the foregoing systems are in
good working order.
6. Lessor indemnifies and holds Lessee harmless from and against all
loss, and damage suffered by Lessee on account of Lessor's negligence
or willful misconduct, or, to the best 'of the Lessor's knowledge, the
presence of hazardous materials (as defined in any applicable federal,
state or local law, rule or regulation) or oil located in, on, under
or at the Premises or the building as of the date of this lease.
7. Lessee is responsible for obtaining a valid certificate of occupancy
for the building which permits the use of the Premises for the uses
permitted under this lease. Lessor represents that, to the best of its
knowledge, (a) there are no outstanding violations of law with respect
to the Premises and (b) the Premises are vacant and free of any
occupancy rights of any other person or entity.
8. Lessor and Lessee mutually agree that, with respect to any hazard
which is covered by insurance then being carried by them,
respectively, the one carrying such insurance and suffering such loss
releases the other of and from any and all claims with respect to such
loss.
Agreed and accepted:
/s/ [Illegible] /s/ Xxxxx Xxxxxxxx
------------------------------------- ----------------------------------------
LESSOR (Rizika Realty Trust) LESSEE (Altus Biologics Inc.)
Lease for 000 Xxxxxx Xxxxxx Property Page 9.
AMENDMENT OF LEASE FOR 000 XXXXXX XXXXXX PROPERTY
WHEREAS, Rizika Realty Trust (whose mailing address is: 00 Xxxxxxxx Xxxx,
Xxxxxxxxx, XX 02445), the LESSOR, entered into a Lease dated April 4, 2002 (the
"Lease") with Altus Pharmaceuticals Inc., f/k/a "Altus Biologics Inc."
("LESSEE"), for approximately 7,775 square feet ("Original Premises") on the
first floor of the building located at 000 Xxxxxx Xxxxxx, Xxxxxxxxx,
Xxxxxxxxxxxxx (the "Building");
WHEREAS, LESSOR and LESSEE desire to amend the Lease to temporarily add
approximately 3,000 square feet in the basement of the Building (the "Basement
Premises") to the Premises for a period of four (4) months;
NOW, LESSOR and LESSEE hereby agree to Lease the Basement Premises on the terms
and conditions contained herein:
1. PREMISES Commencing on the BP Commencement Date, as defined below,
approximately 3,000 square feet of space in the basement of
the Building comprised of 10 cubicles and a conference room
shall be added to the Premises as defined in the Lease. The
demise of the Premises shall include rights of access through
such common areas through the Building as are necessary or
desirable for access thereto.
2. TERM The Basement Premises is leased for a term of four (4) months
(the "BP Term") commencing on September 7, 2004 (the "BP
Commencement Date") and ending on January 7, 2005. LESSOR
shall deliver possession of the Basement Premises to LESSEE
in "broom clean" condition, free of all occupants with all
systems serving the same in good and operational condition.
3. RENT In addition to the annual rent due under the Lease with
respect to the Original Premises, the LESSEE shall pay to the
LESSOR rent at the following rates for the Basement Premises
during the BP Term:
The monthly gross rent for the Basement Premises shall be
$10,000 a month. The rental amount is based on net rent of
$5,000 a month and another $5,000 a month for the LESSEE's
portion of real estate taxes, charges for sewer and water,
insurance, heat, electricity, and snow removal.
Notwithstanding any provision of the Lease to the contrary,
the rent for the Basement Premises is gross and LESSEE shall
not be responsible for any CPI increases in the monthly gross
rent or for any other expenses or additional rent, except as
set forth in the following paragraph.
Excluded from such rental payments are the costs of any
contents, liability, or other insurance necessary to conduct
the business of the LESSEE on the Premises, all of which
policies will be obtained and paid for by the LESSEE. The
LESSEE shall pay monthly on the 16th
Lease for 000 Xxxxxx Xxxxxx Property Page 1.
of the month for the following month's rent as part of the
Lease; provided, however, the first month's rent of $10,000
for the Basement Premises shall be paid upon execution of
this Amendment by the LESSOR and LESSEE.
4. ACCESS The LESSOR will have the right to show the Basement Premises
to other potential lessees during working hours provided that
they give a two hour advanced warning.
Prior to the BP Commencement Date, LESSOR will provide LESSEE
with 15 access key cards for the Basement Premises.
5. OTHER TERMS Except as set forth herein, the Basement Premises are leased
on the same terms and conditions of the Lease, and the term
Premises as used in the Lease shall include the Basement
Premises. Notwithstanding the foregoing, Section 2 of Exhibit
B to the Lease and the first sentence of Section 7 of Exhibit
B to the Lease shall not apply to the Basement Premises. If a
certificate of occupancy is required, LESSEE shall have the
option to terminate the lease with respect to the Basement
Premises upon ten (10) days' prior written notice. This
Amendment set forth the entire agreement between the parties.
Agreed and accepted:
/s/ [Illegible] /s/ Xxxxx Xxxxxxxx
------------------------------------- ----------------------------------------
LESSOR (Rizika Realty Trust) LESSEE (Altus Biologics, Inc.)
Lease for 000 Xxxxxx Xxxxxx Property Page 2.
AMENDMENT OF LEASE FOR 000 XXXXXX XXXXXX PROPERTY
WHEREAS, Rizika Realty Trust (whose mailing address is: 00 Xxxxxxxx Xxxx,
Xxxxxxxxx, XX 02445), the LESSOR, entered into a Lease dated April 4, 2002 (the
"Lease") with Altus Pharmaceuticals Inc. (formerly known as "Altus Biologics
Inc."), the LESSEE, for approximately 7,775 square feet ("Original Premises") on
the first floor of the building located at 000 Xxxxxx Xxxxxx, Xxxxxxxxx,
Xxxxxxxxxxxxx (the 'Building");
WHEREAS, LESSOR and LESSEE desire to amend the Lease to add approximately 11,000
square feet in the basement of the Building (the "Basement Premises") to the
Premises for a period of fifteen (15) months;
NOW, LESSOR and LESSEE hereby agree to Lease the Basement Premises on the terms
and conditions contained herein:
1. PREMISES Commencing on the BP Commencement Date as defined below,
approximately 11,000 square feet of space (the entire
basement of the Building) as shown on Exhibit A hereto shall
be added to the Original Premises. The demise of the Basement
Premises shall include rights of access through such common
areas as are necessary for access thereto. The parking spaces
marked by an "*" on Exhibit B hereto shall also be included
in the Basement Premises.
2. TERM The Basement Premises is leased for a term of approximately
fifteen (15) months (the "BP Term") commencing on January 7,
2005 (the "BP Commencement Date") and ending on April 7,
2006. LESSOR shall deliver possession of the Basement
Premises to LESSEE in a "broom clean" condition, free of all
occupants with all systems serving the same in good and
operational condition. At the end of the BP Term the LESSEE
shall deliver possession of the Basement Premises to LESSOR
in the same condition it was initially received and free of
all occupants with all systems serving the same in good and
operational condition, reasonable wear and tear, damage by
fire or other casualty excepted.
3. RENT In addition to the annual rent due under the Lease with
respect to the Original Premises, the LESSEE shall pay to the
LESSOR rent at the following rates for the Basement Premises
during the BP Term:
The monthly gross rent for the Basement Premises shall be
$16,000 a month. This includes the LESSEE's portion of real
estate taxes, charges for sewer and water, insurance, heat,
electricity and snow removal. The rent will not increase
during the lease period, unless real estate taxes, charges
for sewer and water, insurance, heat, electricity or snow
removal cost increase. If an increase in rent is requested,
the LESSOR will share the bills for the last 24 months with
the LESSEE to justify the increase. Notwithstanding any
provision of the Lease to the contrary, the rent for the
Basement Premises is gross and LESSEE shall not be
responsible for any
Lease for 000 Xxxxxx Xxxxxx Property Page 1.
CPI increases in the monthly gross rent or for any other
expenses or additional rent, except as set forth in the
following paragraph.
Excluded from such rental payments are the costs of any
contents, liability, or other insurance necessary to conduct
the business of the LESSEE on the Premises, all of which
policies will be obtained and paid for by the LESSEE. The
LESSEE shall pay monthly on the 7th of the month for the
following month's rent as party of the Lease; provided,
however, the first month's rent of $16,000 for the Basement
Premises shall be paid upon execution of this Amendment by
the LESSOR and LESSEE.
4. ACCESS The LESSOR will have the right to show the Basement Premises
to other potential lessees during working within working
hours provided that they give a two-hour advanced warning.
The LESSEE will program access to the Basement Premises for
its employees. When the LESSEE moves out, the LESSOR will
have the option to keep the key card system as is, or have
the LESSEE reconfigure the key card system as it was a the
start of the lease.
5. OTHER TERMS Except as set forth herein, the Basement Premises are leased
on the same terms and conditions of the Lease, and the term
Premises as used in the Lease shall include the Basement
Premises. Notwithstanding the foregoing, Section 2 of Exhibit
B to the Lease and the first sentence of Section 7 of Exhibit
B to the Lease shall not apply to the Basement Premises. If a
certificate of occupancy is required, LESSEE shall have the
option to terminate the lease with respect to the Basement
Premises upon ten (10) days' prior written notice. This
Amendment set forth the entire agreement between the parties.
Agreed and accepted:
/s/ [Illegible] /s/ Xxxxx Xxxxxxxx
------------------------------------- ----------------------------------------
LESSOR (Rizika Realty Trust) LESSEE (Altus Biologics, Inc.)
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