Amendment for an Extension to Lease Term and to Relocate to Suite 280 at the Bay Colony Executive Center - East dated March 17, 2009 by and between IR BioSciences Holdings, Inc. and Bay Colony Executive Center-West, a division of BC Management Company, Inc

 

 

LANDLORD:                               BAY COLONY EXECUTIVE CENTER – EAST

a division of BC MANAGEMENT, INC.,

an Arizona Corporation

8777 E. Via de Ventura

Suite 101

Scottsdale, Arizona  85258

TENANT:                                      ImmuneRegen BioSciences, Inc.

IR BioSciences Holdings, Inc.

a Delaware Corporation

8767 E. Via de Ventura, Suite 190

Scottsdale, Arizona  85258

PREMISES:                                  Suite 280, consisting of approximately 1,943 rentable square feet.

TERM OF LEASE

EXTENSION:                               Four (4) years.

COMMENCEMENT

DATE OF EXTENSION

TO LEASE TERM:                      April 1, 2009.

 

TERMINATION DATE

OF EXTENSION TO

LEASE TERM:                             March 31, 2013

SECURITY DEPOSIT:               The security deposit from Suite 190 shall be applied to Suite 280.

 

          Monthly                                                        Annual

Months                                   Rent                                                             Rent

01 – 02                         $0.00 plus tax

03 – 12                         $3,400.25 plus tax                                      $34,002.50 plus tax (June-March)

13 – 24                         $3,665.79 plus tax                                      $43,989.52 plus tax

25 – 36                         $3,749.99 plus tax                                      $44,999.88 plus tax

37 – 48                         $3,845.52 plus tax                                      $46,146.25 plus tax

 

 

2)  Exhibit “D”, Parking Space Rider, is attached hereto and made a part thereof.

Except as amended above, all other terms and conditions of the original lease dated October 1, 2007 and all exhibits thereto shall remain in full force and effect and shall be incorporated into this Amendment and shall become a part thereof.

IN WITNESS WHEREOF, this instrument has been duly executed by the parties hereto as of the date first above written.

LANDLORD:                                                                                                TENANT:

a division of BC Management, Inc.                                                            IR BioSciences Holdings, Inc.

By: /s/ Charles J. DeGrange____________________                           By: /s/ Michael K. Wilhelm__________

Charles J. DeGrange                                                                              Print Name: Michael K. Wilhelm

Its:  President                                                                                         Its: Chief Executive Officer

 

 By: /s/ John N. Fermanis____________

 Print Name: John N. Fermains

 Its:  Chief Financial Officer

 

For the term of this Lease and subject to such rules and regulations as may be adopted from time to time, Tenant shall have the right to use two (2) reserved/underground parking spaces. For the initial term of this Lease, the two (2) above mentioned reserved/underground parking spaces shall be free. Additional reserved/underground spaces will be leased for $45.00 per month per space or at the current rental rate which is subject to change without notice.

Prior to tenant and any of Tenant's employees using the under­ground parking space and facilities, Tenant and/or the particular employee of Tenant who shall actually utilize the particular parking space shall fill out an application which shall be provided by Landlord, sign and certify that all the information contained in said application is true and correct, and Tenant shall pay to Landlord a Forty-five and 00/100ths Dollar ($45.00) security deposit for each ac­cess card to the underground parking area.  Upon receipt of each ap­plication and security deposit, landlord shall issue one access card to the underground parking facility to tenant, designating the specific individual who shall have possession and shall hold the access card.  These access cards are not transferable and upon the termination of Tenant's lease, all underground parking access cards must be returned to Lessor.  Also upon termination of the employment of Tenant's employee who holds an access card or his or her transfer to a new employment location, the access card must be returned to Landlord.  Upon the return of the access card to Landlord, the security deposit shall be returned to Tenant.

It shall be understood that Landlord is not an insurer of any or all of the vehicles and the contents contained therein belonging to Tenant or Tenant's employees that utilize the underground parking spaces and area, nor is there any bailment created between Tenant, Tenant's employees and Landlord by reason of this Parking Space Rider and the use of the underground parking by Tenant and Tenant's employees.

Tenant and Tenant's employees using the underground parking spaces shall lock and secure the motor vehicle and all contents and personal property inside the vehicle.  Tenant and Tenant's employees shall assume full risk of any loss, theft, misplacement, vandalism and damage to the vehicle which may or might occur or result while park­ing the vehicle, exiting or entering the underground parking lot and while the vehicle is parked there.  Lessor shall at no time retain or assume any control or possession of the motor vehicle utilizing the underground parking facilities or the contents and personal property inside the vehicle.

 

 

 

Landlord agrees to provide Tenant with the following Tenant Improvements:

All Tenant Improvements which are additions or change to the above specifications shall be provided by the Landlord and be paid for by the Tenant to the Landlord.