SECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE (Second Amendment) is entered into on this 11th day of May, 2015 (Effective Date) between HARSCH INVESTMENT PROPERTIES, LLC, an Oregon limited liability company (Lessor) and MICROMIDAS, INC., a Delaware C-corporation (Lessee). Lessor and Lessee agree as follows:
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Background and Purpose.
A. Lessor and Lessee are parties to the Standard Industrial/Commercial Multi-Tenant LeaseNet dated February 28, 2013 (the Lease), amended May 20, 2013 (the First Amendment) (collectively referred to as the Lease) for the premises located at 970 Riverside Parkway, Suite 40, in the City of West Sacramento, State of California, consisting of approximately 14,343 square feet (the Premises).
B. The Term of the Lease is scheduled to expire October 31, 2018.
C. Lessor and Lessee wish to amend the Lease to extend the Term and to amend certain other provisions of the Lease as more fully set forth below.
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Contingency. This Second Amendment shall be considered null and void if Lessor does not also simultaneously execute the Lease dated May 11, 2015 for 930 Riverside Parkway, Suite 30, as well as the Fifth Amendment to Lease dated May 11, 2015 for 930 Riverside Parkway, Suites 10 and 20.
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Term. The Term of the Lease is hereby extended for an additional period of twenty-four (24) months commencing November 1, 2018 (Extended Term Commencement Date) and terminating October 31, 2020 (the Extended Term).
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Rent. The Monthly Base Rent during the Extended Term shall be as follows:
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| ||$ ||6,650.99 Per Month || |
| ||$ ||6,850.52 Per Month || |
Lessee shall continue to be obligated to pay all Monthly Base Rent and other recurring charges from the Effective Date through the Extended Term Commencement Date and nothing in this Second Amendment shall be construed as releasing Lessee from any of its obligations under the Lease for the Premises from the Effective Date through the Extended Term Commencement Date.
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Lessee Improvements. On the Extended Term Commencement Date, Lessee shall accept the Premises in its then as is, where is condition without any obligations on the part of Lessor to alter, remodel, improve, repair, or decorate any part of the Premises and without any express or implied representations or warranties of any kind, except for those previously agreed to in the Lease.
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Option to Extend. Lessor hereby grants to Lessee the option to extend the term of the Lease for one (1) additional five (5) year period (Option), commencing when the then current term expires upon each and all of the following conditions:
A. In order to exercise the Option, Lessee must give written notice pursuant to the Lease of such election to Lessor and Lessor must receive the same at least one hundred eighty (180) days prior to the date that the option period would commence, time being of the essence. If proper notification of the exercise of the Option is not given, Lessee shall have no further or additional right to extend the term of the Lease.