Patio Area. Subject to the terms of this Lease, and all applicable Laws, Tenant shall have the right to use, on an exclusive basis, that certain area of the Project located immediately adjacent to the Premises, depicted on Exhibit A attached hereto, consisting of approximately 287 square feet of space (the “Patio Area”) for purposes consistent with the Permitted Use of the Premises set forth in Section 1.15 of the Summary. The Patio Area shall not be included in the Rentable Square Feet of the Premises for purposes of this Lease. Tenant shall pay Landlord as consideration for the use and enjoyment of the Patio Area “Additional Rent”, as that term is defined in Section 5.2 of this Lease, below, at the same time, and in the same manner as “Basic Rent”, as that term is defined in Section 5.1 of this Lease. Months of Term Monthly Basic Rental Rate ($/RSF/mo) Monthly Basic Rent ($/mo) Annual Basic Rent ($/yr) 1 – 12 $2.10 $602.70 $7,232.40 13 – 24 $2.17 $623.79 $7,485.53 25 – 36 $2.25 $645.63 $7,747.53 37 – 48 $2.33 $668.22 $8,018.69 No alcohol or smoking shall be permitted in the Patio Area. Tenant’s use of the Patio Area shall be subject to such commercially reasonable, non-discriminatory additional rules, regulations and restrictions as Landlord may make from time to time concerning the Patio Area, which have been provided to Tenant in writing. Tenant shall at all times maintain and operate the Patio Area for such purpose in a first-class manner consistent with the first-class nature of the Project, and in such a fashion so as not to unreasonably disturb other tenants or occupants of the Project; and if such operation by Tenant causes any such unreasonable disturbance or any nuisance, Landlord may require Tenant to immediately cease any operations from or use of the Patio Area. Tenant shall be responsible for and shall obtain, at Tenant’s cost, all necessary governmental permits and approvals with respect to Tenant’s use and operation of the Patio Area, if any, and shall comply with all applicable laws with respect to the Patio Area. Landlord makes no representation that Tenant shall be able to obtain such necessary permits and approvals or that Tenant’s use of the Patio Area is permitted by applicable laws. Tenant’s plans for the utilization of the Patio Area (including, without limitation, plans for the type and location of tables, chairs and other furniture to be used by Tenant therein) shall be submitted to Landlord for Landlord’s approval prior to any such use of the Patio Area, which Landlord shall act upon promptly and to which Landlord shall not unreasonably withhold its consent. Tenant’s operation, cleaning, maintenance and repair of the Patio Area shall be subject to all of the applicable terms and provisions of this Lease, and the indemnity provisions of this Lease shall apply to the Patio Area as if it were part of the Premises. Tenant shall be responsible for all taxes and charges imposed for any of Tenant’s personal property in the Patio Area. Tenant shall not make any alterations to the Patio Area without the prior written consent of Landlord, which consent may be withheld by Landlord in its sole and absolute discretion. Landlord shall perform certain improvements to the Patio Area, as more particularly set forth in Schedule “B-1” attached hereto, and shall provide for Tenant’s use, at no additional cost, one (1) umbrella within the Patio Area (the “Umbrella”). Landlord shall have no obligation to maintain or repair such Umbrella. Tenant hereby agrees that Tenant shall maintain and repair such Umbrella in good condition and repair, subject to reasonable wear and tear and damage from casualty, throughout the Lease Term and at Tenant’s sole cost and expense. In the event of irreparable damage to the Umbrella other than as the result of a casualty event, Tenant shall replace the Umbrella, at Tenant’s sole cost and expense, prior to the expiration or earlier termination of the Lease Term. Tenant shall not (i) remove any the Umbrella from the Premises, (ii) assign the Umbrella as collateral or otherwise, (iii) sell the Umbrella, or (iv) give any third party a security interest or any other interest in the Umbrella.
Appears in 3 contracts
Sources: Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.)