Diamond Marina LLC & Diamond Marina II LLC

 

Exhibit 10.7

 

         Diamond Marina LLC & Diamond ▇▇▇▇▇▇ ▇▇ LLC

Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Manager ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇ ▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇

 

 

June 11, 2019

 

   Aimmune Therapeutics, Inc.

f.k.a. Allergen Research Corporation ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇

 

 

 

Ladies and Gentlemen:

 

Please be advised that (1) as of the date hereof, Landlord  has conveyed  all of its  right,  title and interest in and to the Property, including its interest as landlord under the Lease, to HCP Life Science REIT, Inc. a Maryland corporation ("Purchaser"), and (2) Purchaser has assumed Landlord's obligations under the Lease arising from and after the date hereof.

 

In addition, all security deposits held by Landlord, if any, together with any interest earned thereon, have been transferred to Purchaser.

 

Accordingly, effective as of the date hereof, you are hereby notified and directed to deliver any notices, inquiries or requests relating to the Lease to Purchaser at: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇

#▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇ ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇.  The Purchaser will be reaching out with additional information, including property management and where to direct future rent payments.

 

Very truly yours,

Title: Manager

Diamond ▇▇▇▇▇▇ ▇▇ LLC, a California limited liability company

Title: Manager

 

 

 

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SECOND AMENDMENT TO LEASE

 

THIS SECOND AMENDMENT TO LEASE (“Second Amendment”) is made effective and entered into as of June 27, 2017, by and between DIAMOND MARINA LLC, a California limited liability company, and DIAMOND ▇▇▇▇▇▇ ▇▇ LLC, a California limited liability company (collectively “Landlord”), and AIMMUNE THERAPEUTICS, INC., a Delaware corporation, formerly known as ALLERGEN RESEARCH CORPORATION, INC., a Delaware corporation (“Tenant”).

 

RECITALS

 

A.Landlord and Tenant are parties to that certain Lease Agreement (“Lease”) dated February 23, 2015 and that First Amendment (“First Amendment”), pursuant to which Landlord leases to Tenant and Tenant leases from Landlord the Second Floor (Suite 200), which contains approximately 26,355 net rentable square feet, and a portion of the Third Floor (Suite 300), which contains approximately 11,665 net rentable square feet (collectively “Current Premises”), at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ (“Building”). Capitalized terms used but not defined herein shall have the meanings given in the Lease.

 

B.Landlord desires to lease to Tenant and Tenant desires to lease from Landlord a portion of the Third Floor (Suite 301) of the Building, which contains approximately 14,841 net rentable square feet and is shown in the floor plan attached hereto as Exhibit A (“Expansion Premises”).

 

NOW, THEREFORE, in consideration of the foregoing Recitals, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:

 

1.Commencement. The Lease of the Expansion Premises shall commence upon the later of January 1, 2018 and the date Landlord delivers the Expansion Premises to Tenant (which date must be a Business Day) with the Tenant Improvement Work substantially completed (“Expansion Premises Commencement Date”). Landlord shall use commercially reasonable best efforts to deliver the Expansion Premises to Tenant with the Tenant Improvement Work substantially completed on or before January 1, 2018, and Tenant agrees that it shall fully cooperate with Landlord throughout the construction process to meet this timeline goal.

 

2.Delivery and Tenant Improvement Work.  Landlord shall deliver the Expansion Premises  to Tenant in good condition and repair and in compliance with applicable building codes and laws with the “Tenant Improvement Work” which shall be performed by Landlord at Landlord’s expense pursuant to the terms of the “Work Letter” attached hereto as Exhibit B. Following delivery, the term “Premises” shall reflect both the Expansion Premises and the Current Premises combined.

 

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3.Term. The Term of the Expansion Premises shall commence upon the Expansion Premises Commencement Date and shall end on June 30, 2024. The Term of the Current Premises shall also be extended to be coterminous, so that Tenant’s Lease of the Expansion Premises and the Current Premises shall expire on June 30, 2024 (“Lease Expiration Date”).

 

4.Monthly Base Rent for Expansion Premises. The monthly Base Rent for the Expansion Premises shall commence on the Expansion Premises Commencement Date and shall be as follows:

 

For Suite 301:

 

Tenant’s monthly Base Rent during Months 1 – 3 shall be 100% Abated. Tenant’s monthly Base Rent during Months 4 – 6 shall be 50% Abated. In lieu of monthly rent credits for such Abated Rent, Landlord may pay Tenant all or a portion of the unapplied credits or give more than each month’s required credit earlier against rent otherwise due.

 

5.Monthly Base Rent for the Current Premises. The monthly Base Rent for the Current Premises shall remain as stated in the First Amendment, with additional three percent (3%) annual escalations through the extended portion of the Term shown as follows:

 

For Suite 200:

 

For Suite 300:

 

6.Security Deposit. The Security Deposit shall remain $304,124.

 

7.Parking, Pro Rata Share, and Base Year. Upon the Expansion Commencement Date, Tenant’s Pro Rata Share (to be 26.2%) shall be increased accordingly

 

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based on the additional square footage leased. From and after the Expansion Commencement Date, Tenant shall be entitled to use 3.3 parking spaces per 1,000 rentable square feet of space in the Premises (i.e., 173 parking spaces). Retroactive to January 1, 2017, The Base Year for the both the Current Premises and the Expansion Premises shall be Calendar Year 2017. The Operating Expense Excess payments made by Tenant for the Current Premises from January – June 2017 totals $8,843, and such payment shall  be  refunded  by  Landlord  to  Tenant. Notwithstanding anything to the contrary, (a) Operating Expenses for the Base Year shall be determined as if the Building had been 100% occupied and Landlord had been supplying services to of the Rentable Area of the Building, (b) Operating Expenses shall exclude deductibles for earthquake and flood insurance and other costs of uninsured casualty to the extent Tenant’s Pro Rata Share thereof exceeds $50,000, (c) to the extent Operating Expenses for a calendar year include premiums for insurance not carried during the Base Year, then Operating Expenses for the Base Year shall be increased as if Landlord carried such insurance during the Base Year, and (d) if a special assessment payable in installments is levied against the Building, Operating Expenses and Real Estate Taxes for any year shall include only the installment of such assessment and any interest payable or paid during such year as if such assessment were paid over the longest possible term.

 

8.Right of First Offer. By virtue of the First Amendment (Section 8 + Exhibit C), Tenant already has an on-going Right of First Offer (“ROFO”) on the 4th Floor of the Building (the 4th Floor’s current tenant is Stella & Dot). Such ROFO right shall remain in full force and effect. Upon execution of this Second Amendment, and pursuant to the terms and conditions attached hereto as Exhibit C, Tenant shall additionally be granted an on-going Right of First Offer (“ROFO”) with respect to all or any space which may become available for lease located on the 1st, 5th, and 6th Floor of the Building (each a “ROFO Premises”) subject to the existing rights of tenants leasing the ROFO Premises on such floors as of the date hereof and any ROFO rights thereto existing as of the date hereof.

 

9.FF&E Allowance. Upon Tenant’s acceptance of the Expansion Premises and delivery of the Acceptance Form, Landlord shall pay to Tenant an FF&E Allowance of One Hundred Thousand Dollars ($100,000), to reimburse Tenant for its reasonable costs associated with construction of and its occupancy in the Expansion Premises, which may include “soft” costs associated with making the Premises ready for Tenant’s occupancy, such as consultants, architects, design, engineering costs, IT cabling, furniture, and Exterior Building Signage (the “FF&E Allowance”).

 

10.Renewal Option. Tenant’s “Renewal Option” described in Section 4.4 of the Lease shall remain in full force and affect, except that the Renewal Option shall be for a five (5) year term (the “Renewal Term”).

 

 

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11.Exterior Building Signage. Landlord shall provide Tenant with the right, subject to Landlord’s reasonable consent, to install one (1) Exterior Building-Top Sign facing Highway 101 and suite entry signage on the second and third floors on the doors to the Premises or the walls adjacent thereto, pursuant to the following terms and conditions:

 

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(12) months

 

 

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By way of example, the parties agree that the form attached as Exhibit D to the Second Amendment is commercially reasonable.”

 

13.No Further Amendment. The Lease, as modified by this Second Amendment, shall remain in full force and effect.

 

14.Confirmation of Lease. Tenant hereby represents and warrants to Landlord that, as of the date hereof, (a) the Lease is in full force and effect and has not been modified except pursuant to the First Amendment and this Second Amendment; (b) Tenant has not subleased or assigned any of its right, title and interest in and to the Lease and has full power and authority to enter into and perform its obligations hereunder;

(c) to Tenant’s knowledge without duty of inquiry, there are no defaults on the part of Landlord existing under the Lease; (d) to Tenant’s knowledge without duty of inquiry, there exists no valid abatements, causes of action, counterclaims, disputes, defenses, offsets, credits, deductions, or claims against the enforcement of any of the terms and conditions of the Lease; (e) this Second Amendment has been duly authorized, executed and delivered by Tenant and, if executed and delivered by Landlord, shall constitute the legal, valid and binding obligation of Tenant; and (f) there are no actions, whether voluntary or otherwise, pending against Tenant under the bankruptcy or insolvency laws of the United States or any state thereof.

 

15.Voluntary Agreement. The parties have read this Second Amendment, and on the advice of counsel they have freely and voluntarily entered into this Second Amendment.

 

16.Representation by Counsel. Each party acknowledges that it has been represented by independent legal counsel of its own choice in connection with the execution of this Second Amendment and has had an adequate opportunity to investigate the subject matter of this Second Amendment before executing this Second Amendment.

 

17.Brokerage. Landlord and Tenant each warrant to the other that it has not had dealings with any other finder, broker, or agent in connection with this Second Amendment, other than CBRE (▇▇▇▇ ▇▇▇▇▇▇) representing Tenant and Newmark Cornish & ▇▇▇▇▇ (▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇) representing Landlord, who shall both be paid by Landlord pursuant to their separate agreement. Each party shall indemnify, defend and hold harmless the other party from and against any and all costs, expenses or liability for commissions or other compensation or charges claimed by any other finder, broker, or agent based on dealings with the indemnifying party with respect to this Second Amendment.

 

18.General Provisions. This Second Amendment shall bind and inure to the benefit of the parties and their respective successors and assigns. This Second Amendment shall be governed, and construed  in accordance with, the laws of the State of California without regard to or application of the principles of conflict of laws. This Second Amendment together with the Lease and the First Amendment constitutes the entire agreement between the parties with respect to the subject matter hereof and thereof.

 

 

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19.Counterparts. This Second Amendment may be signed in two or more counterparts. When at least one such counterpart has been signed by each party, this Second Amendment shall be deemed to have been fully executed, each counterpart shall be deemed to be an original, and all counterparts shall be deemed to be one and the same agreement.

 

IN WITNESS WHEREOF, the parties have executed this Second Amendment to Lease as of the date first set forth above.

 

TENANT:LANDLORD:

 

AIMMUNE THERAPEUTICS, INC.DIAMOND MARINA LLC

a Delaware corporationa California limited liability company

 

 

 

 

DIAMOND ▇▇▇▇▇▇ ▇▇ LLC

a California limited liability company

 

By:/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇

 

Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Manager Date: June 30, 2017

 

 

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EXHIBIT A

 

FLOOR PLAN OF EXPANSION PREMISES

 

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EXHIBIT B

 

WORK LETTER FOR TENANT IMPROVEMENTS

 

 

Tenant Improvement Work.Landlord at Landlord’s expense shall deliver the Expansion Premises to Tenant having completed the following “Tenant Improvement Work” at its sole cost and expense:

 

 

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sized to Tenant’s current needs. Additionally, on both the 2nd Floor and 3rd Floor shall each have 1 dedicated circuit connected to the Building’s emergency power system.

Tenant’s Construction Contact. Tenant’s Construction Contact, who shall be empowered by Tenant to make decisions and respond to questions raised by Landlord during the construction of Tenant Improvement Work, shall be: ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇.

Special Conditions. All of Landlord’s work shall be performed in a good and workmanlike manner, using materials of good quality and in accordance with law. Landlord shall bear responsibility to construct all improvements consistent with any applicable building codes and laws. Tenant agrees that Landlord has the right to modify the Tenant Improvement Work as required by law. Tenant agrees to promptly respond to  any inquiry or question of Landlord for the construction of these improvements. Following Delivery of the Premises, Landlord shall have no further responsibility to perform improvements to the Premises, subject to a Punch List of minor items to be completed following Delivery and otherwise subject to the terms of the Lease; except, if required by written notice from governmental jurisdiction, Landlord shall be responsible to perform ADA, Title 24, or other code compliance work for the Expansion Premises as delivered.

Exclusions. For avoidance of doubt, the following is excluded from the Landlord’s Tenant Improvement Work: furniture, fixtures, equipment, network cabling, TV cabling and service, AV systems, office signage, specialty finishes, cabinetry (excluding new Break Room cabinetry), special power systems, security systems, break room appliances (excluding dishwashers and garbage disposal), moving & relocation, server room set-up, or any other items not included above.

Early Access. Tenant shall be permitted at least four (4) weeks of early access to the entire third floor prior to the Expansion Premises Commencement Date, without rental obligation, for the purpose of preparing the space for occupancy.

Stairwell Improvements. Tenant shall be permitted to install, maintain and operate, at Tenant’s sole cost and expense, a keycard entry system in both stairwells on the second and third floors for entry into the Premises on both floors and a video surveillance system in connection therewith. In such event, provided Tenant’s system is compatible with the Building system then Landlord shall program the main entry to the Building to accept the same keycards used for Tenant’s stairwell keycard entry system.

 

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EXHIBIT B-1

RECONFIGURED FLOOR PLAN

 

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EXHIBIT C

 

RIGHT OF FIRST OFFER TERMS

 

Tenant’s Right of First Offer (“ROFO”) is based on and subject to the following conditions:

 

(a)The ROFO shall be subject to the existing rights of any Tenants leasing the ROFO Premises as of the date hereof.  The ROFO shall not limit Landlord’s ability to extend or renew the  leases of those tenants now or at any time in the future in possession of any ROFO Premises.

 

(b)The ROFO Premises will be incorporated into the Leased Premises except that (a) the economic terms for the ROFO Premises shall be as set forth in the ROFO Notice or as otherwise agreed in writing by the parties, (b) the Lease Term shall be a minimum of five (5) years, (c) Tenant’s Pro Rata Share shall be increased to reflect the addition of the ROFO Premises, and (d) the number of parking spaces shall be adjusted to reflect the addition of the ROFO Premises. Unless specified otherwise in the ROFO Notice, the ROFO Premises shall be leased on an “as-is” basis, and Landlord shall have no obligation to improve the ROFO Premises or grant Tenant any improvement allowance for the ROFO Premises unless Landlord intends to offer (or offers) any such concessions in the ROFO Notice.

entirety.

 

rights with respect to the ROFO Premises if:

 

(i)an Event of Default exists and is continuing, either on the date Landlord delivers the ROFO Notice to Tenant or when the ROFO Premises are to be incorporated into this Lease;

 

(ii)Tenant has assigned or sublet any portion of the Premises (other than pursuant to a Permitted Transfer) as of the date Landlord would otherwise deliver the ROFO Notice;

 

(iii)Tenant or a Permitted Transferee is not occupying the Premises on the date Landlord would otherwise deliver the ROFO Notice; or

 

Tenant or a Permitted Transferee.

 

Tenant’s sole rights as to the ROFO Premises shall be as follows:

 

(e)At all times during the Term of the Lease, and prior to offering the ROFO Premises for lease to any third party, Landlord shall deliver a written notice (the

 

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“ROFO Notice”) to Tenant setting forth the terms upon which Landlord proposes to lease all or a portion of any ROFO Premises defined in this First Amendment.

 

(f)Tenant shall have five (5) business days in which to accept the terms contained in the ROFO Notice or otherwise to reach agreement to incorporate such ROFO Premises into the Lease. If Landlord and Tenant do not so reach agreement within such period and thereafter incorporate the applicable ROFO Premises into the Lease, Landlord shall be free to market the ROFO Premises to third parties; provided that Landlord shall not enter into an agreement to lease the ROFO Premises on terms that are materially more favorable to the third party than those set forth in the ROFO Notice without submitting such terms to Tenant in a new ROFO Notice. For purposes hereof, the terms offered to a third party shall be deemed to be materially more favorable than those set forth in the ROFO Notice if there is more than a ten percent (10%) reduction in the effective cost per square foot of Rentable Area, considering all of the applicable economic terms, including, without limitation, the length of term, the net rent, and any expense or other financial escalation, or other material modification of the size or condition of the ROFO Premises being offered and/or any concessions offered in connection with such space. If the terms agreed to with a third party are materially more favorable than those set forth in the ROFO Notice, then Landlord shall so inform Tenant with a new ROFO Notice and Tenant shall have the right, for a period of ten (10) business days, to accept such terms in writing and thereafter promptly to enter into an amendment of the Lease incorporating the ROFO Premises, subject to subsection (b) above. In the event Landlord and Tenant do not enter into such amendment within the period specified, Landlord shall be free to enter into a lease with a third party on terms not materially more favorable to the third party than those offered to Tenant.

(g)If Landlord fails to enter into a lease agreement with a third party with respect to the ROFO Premises within six (6) months after the date of the ROFO Notice, Tenant’s ROFO rights shall be reinstated, and Landlord shall again be obligated to comply with the provisions of this Section.

 

 

 

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EXHIBIT D

 

WELLS FARGO BANK DRAFT SNDA AGREEMENT

 

SUBORDINATION AGREEMENT, ACKNOWLEDGMENT OF LEASE ASSIGNMENT, ESTOPPEL, ATTORNMENT AND NON-DISTURBANCE AGREEMENT

(Lease to Security Instrument)

 

NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT.

 

THIS SUBORDINATION AGREEMENT, ACKNOWLEDGMENT OF LEASE ASSIGNMENT, ESTOPPEL, ATTORNMENT  AND  NON-DISTURBANCE  AGREEMENT  ("Agreement") is made , 2017 by and between DIAMOND MARINA LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, AND DIAMOND ▇▇▇▇▇▇ ▇▇ LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, owner(s) of the real

property hereinafter described (collectively, "Mortgagor"), AIMMUNE THERAPEUTICS, INC., ("Tenant") and ▇▇▇▇▇ Fargo Bank, National Association (collectively with its successors or assigns, "Lender").

 

R E C I T A L S

 

 

 

 

 

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14/23

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NOW THEREFORE, for valuable consideration and to induce Lender to make the Loan, Mortgagor and Tenant hereby agree for the benefit of Lender as follows:

 

 

 

 

AND FURTHER, Tenant individually declares, agrees and acknowledges for the benefit of Lender, that:

 

 

 

 

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15/23

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16/23

 

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expiration of the time period provided in the Lease for the cure thereof by Mortgagor ; provided, however, that if such default cannot with diligence be cured by Lender within such fifteen (15) day period, the commencement of action by Lender within such fifteen (15) day period to remedy the same shall be deemed sufficient so long as Lender pursues such cure with diligence;

 

 

 

 

 

 

 

 

 

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United States Postal Service mail, postage prepaid, or by Overnight Express Mail or by overnight commercial courier service, charges prepaid, except that notice of Default may be sent by certified mail, return receipt requested, charges prepaid. Notices so sent shall be effective three (3) Business Days after mailing, if mailed by first class mail, and otherwise upon delivery or refusal; provided, however, that non-receipt of any communication as the result of any change of address of which the sending party was not notified or as the result of a refusal to accept delivery shall be deemed receipt of such communication. For purposes of notice, the address of the parties shall be:

 

 

Any party shall have the right to change its address for notice hereunder to any other location within the continental United States by the giving of thirty (30) days’ notice to the other party in the manner set forth hereinabove.

 

 

 

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19/23

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.

 

IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT HERETO.

"MORTGAGOR" DIAMOND MARINA LLC,

A California limited liability company

 

By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇

Name:▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Title:Manager

 

 

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20/23

 

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"MORTGAGOR"

 

DIAMOND ▇▇▇▇▇▇ ▇▇ LLC,

A California limited liability company

 

By:/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇

Name:▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title:Manager

 

"TENANT"

 

AIMMUNE THERAPEUTICS, INC.,

A Delaware corporation

 

By:/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇

Name:▇▇▇▇ ▇▇▇▇▇▇▇▇▇

Title:CFO "LENDER"

▇▇▇▇▇ FARGO BANK, N.A.

BY:

Name:D. ▇▇▇ ▇▇▇▇▇▇▇ Title:Senior Vice President

 

 

[IF DOCUMENT TO BE RECORDED, ALL SIGNATURES MUST BE ACKNOWLEDGED - ADD APPROPRIATE NOTARY ACKNOWLEDGEMENT]

 

 

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EXHIBIT A - DESCRIPTION OF PROPERTY LEGAL DESCRIPTION

Real property in the City of Brisbane, County of San Mateo, State of California, described as follows: PARCEL I:

LOT 3, AS SHOWN ON THAT CERTAIN MAP ENTITLED “FINAL MAP”, CITY OF BRISBANE, SAN MATEO COUNTY, CALIFORNIA, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN MATEO COUNTY, STATE OF CALIFORNIA, ON FEBRUARY 27, 1987 IN BOOK 58 OF PARCEL MAPS AT PAGE(S) 79, 80, 81 AND 82.

 

EXCEPTING ALL MINERALS AND MINERAL RIGHTS OF EVERY KIND AND CHARACTER NOW KNOWN TO EXIST OR HEREAFTER DISCOVERED, INCLUDING WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, OIL AND GAS AND RIGHTS THERETO, TOGETHER WITH THE SOLE, EXCLUSIVE, AND PERPETUAL RIGHT TO EXPLORE FOR, REMOVE AND DISPOSE OF SAID MINERALS BY ANY MEANS OR METHODS SUITABLE TO THE GRANTOR, ITS SUCCESSORS AND ASSIGNS, INCLUDING LATERAL OR SLANT DRILLING, BUT WITHOUT ENTERING UPON OR USING THE SURFACE OF THE LANDS HEREBY CONVEYED, AND IN SUCH MANNER AS NOT TO DAMAGE THE SURFACE OF SAID LANDS OR ANY BUILDING NOR THEREON OR HEREAFTER ERECTED THEREON OR THE SUBSTRUCTURE OF ANY SUCH BUILDING, OR TO INTERFERE WITH THE USE THEREOF BY THE GRANTEE, ITS SUCCESSORS OR ASSIGNS, AS EXCEPTED IN THE FOLLOWING DEEDS TO UTAH CONSTRUCTING & MINING CO., A CORPORATION, PREDECESSOR IN INTEREST TO THE VESTEE HEREIN:

 

 

 

 

 

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PARCEL II:

 

NON-EXCLUSIVE EASEMENTS FOR ROADWAYS, WALKWAYS, INGRESS AND EGRESS, PARKING OF MOTOR VEHCILES, LOADING AND UNLOADING OF COMMERICAL AND OTHER VEHICLES AND FOR DRIVEWAY PURPOSES OVER THE COMMON AREA PORTION OF LOT 2 AS SHOWN ON THAT CERTAIN MAP ENTITLED “FINAL MAP” FILED FEBRUARY 27, 1987, IN BOOK 58 OF PARCEL MAPS, PAGES 79 THROUGH 82, SAN MATEO COUNTY RECORDS, AS DEFINED AND CREATED IN THE GRANT OF EASEMENT AND MAINTENANCE AGREEMENT, DATED APRIL 29, 1988 BY AND BETWEEN SIERRA POINT ASSOCIATES TWO, A CALIFORNINA GENERAL PARTNERSHIP AND HITACHI AMERICA LTD., A NEW YORK CORPORATION, RECORDED APRIL 29, 1988 UNDER RECORDER’S SERIAL NO. 88052436, OFFICIAL RECORDS OF SAN MATEO COUNTY.

SAID EASEMENT IS APPURTENANT TO AND FOR THE BENEFIT OF PARCEL I ABOVE.

 

First American Title Insurance Company

 

 

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