Third Amendment to Lease, dated April 21, 2017, between ARE-NC Region No.5, LLC and Humacyte, Inc
THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE (this “Third Amendment”) is made as of April 21, 2017, by and between ARE-NC REGION NO. 5, LLC, a Delaware limited liability company (“Landlord”), and HUMACYTE, INC., a Delaware corporation (“Tenant”).
A. Landlord and Tenant are parties to that certain Lease Agreement dated as of December 31, 2015, as amended by that certain letter agreement dated January 29, 2016, and as further amended by that certain First Amendment to Lease dated as of September 30, 2016, and as further amended by that certain Second Amendment to Lease dated as of February 8, 2017 (the “Second Amendment”) (as amended, the “Lease”). Pursuant to the Lease, Tenant leases certain premises consisting of approximately 70,525 rentable square feet (the “Existing Premises”) on the first and second floors of that certain building located at 2525 E. NC Highway 54, Durham, North Carolina. The Existing Premises are more particularly described in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease.
B. Pursuant to the terms of the Second Amendment, the Second Expansion Premises Commencement Date is scheduled to occur on June 1, 2017.
C. Landlord and Tenant desire, subject to the terms and conditions set forth below, to amend the Lease to accelerate the Second Expansion Premises Commencement Date to May 1, 2017.
NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
|1.||Second Expansion Premises. Notwithstanding anything to the contrary contained in the Second Amendment, (i) the Second Expansion Premises Commencement Date shall occur on May 1, 2017, and (ii) although the Second Expansion Premises Rent Commencement Date shall remain June 1, 2018, Tenant shall be required to pay, on or before May 1, 2017, Base Rent for the Second Expansion Premises for the period commencing May 1, 2017, through May 31, 2017, in the amount of $22,442.00. Landlord shall deliver the Second Expansion Premises to Tenant on May 1, 2017, in vacant, broom clean condition as required under the Second Amendment.|
|2.||OFAC. Tenant is and, to Tenant’s knowledge, all beneficial owners of Tenant are currently (a) in compliance with and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List, Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification List, which are all maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules.|
|3.||Brokers. Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively, “Broker”) in connection with the transaction reflected in this Third Amendment and that no Broker brought about this transaction. Landlord and Tenant each hereby agrees to indemnify and hold the other harmless from and against any claims by any Broker claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this Third Amendment.|
a. This Third Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions. This Third Amendment may be amended only by an agreement in writing, signed by the parties hereto.
b. This Third Amendment is binding upon and shall inure to the benefit of the parties hereto, and their respective successors and assigns.
c. This Third Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto except having additional signature pages executed by other parties to this Third Amendment attached thereto.
d. Except as amended by this Third Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this Third Amendment. In the event of any conflict between the provisions of this Third Amendment and the provisions of the Lease, the provisions of this Third Amendment shall prevail. Whether or not specifically amended by this Third Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this Third Amendment.
[Signatures are on the next page]
IN WITNESS WHEREOF, the parties hereto have executed this Third Amendment as of the day and year first above written.
|a Delaware corporation|
|By:||/s/ Paul A. Boyer|
|ARE-NC REGION NO. 5, LLC,|
|a Delaware limited liability company|
|By:||ALEXANDRIA REAL ESTATE EQUITIES, L.P.,|
|a Delaware limited partnership, managing member|
|a Maryland corporation,|
|By:||/s/ Gary Dean|
|Its:||Senior Vice President, RE Legal Affairs|