Third Amendment to BioSante Lease


    
      

THIRD
      AMENDMENT TO LEASE

    


    THIS
      THIRD AMENDMENT TO LEASE ("Amendment") made as of the 27th day of January,
      2006,
      by and between CHICAGO TITLE LAND TRUST COMPANY, not personally but
      as
      successor trustee to LASALLE BANK NATIONAL ASSOCIATION, as successor
      trustee
      to
      AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, as Trustee under Trust
      Agreement dated January 1, 1991 and known as Trust No. 113370-03 ("Landlord")
      and BIOSANTE PHARMACEUTICALS, INC. ("Tenant").

    


    WITNESSETH:

    


    WHEREAS,
      Landlord and Tenant entered into that certain Lease dated December 19, 2003,
      as
      amended by First Amendment to Lease dated February 26, 2004, as modified by
      Letter Amendment dated March 19, 2004 (the "Lease"), and as amended by Second
      Amendment to Lease dated January 4, 2005, which Lease demised to Tenant a
      portion of the 2nd
      floor,
      known as Suite 280 ("Premises") of the building known as 111 Barclay Boulevard,
      Lincolnshire, Illinois ("Building"); and

    


    WHEREAS,
      the parties hereto desire to extend the term of the Lease and to amend the
      Lease
      in certain other respects.

    


    NOW,
      THEREFORE, in consideration of the mutual covenants and conditions contained
      herein, the Lease is hereby further amended as follows:

    


    1.  Extended
      Term.
      The term
      of the Lease is hereby extended to March 21, 2007 on the same terms and
      conditions as set forth in the Lease, except as modified herein and unless
      sooner terminated pursuant to the terms of the Lease.

    


    2.  Rent.
      As of
      March 22, 2006 the Base Rent payable under the Lease shall be as
      follows:

     

    
      
        	 Period	 	 Annual Base
                Rent 	 Monthly
                Installment
	 3/22/06-3/21/07 	 	 $88,413.00 	 $7,367.75


      

    

    


    3.  Work.
      Landlord
      shall, at Landlord's expense, clean the carpeting in the Premises.

    


    4.  Real
      Estate Brokers.
      Tenant
      represents that it has dealt with, and only with Van Vlissingen and Co., as
      broker in connection with this Amendment, and that, insofar as Tenant knows,
      no
      other broker negotiated this Amendment or is entitled to any commission in
      connection therewith. Tenant agrees to indemnify and hold Landlord harmless
      from
      all damages, liability and expense (including reasonable attorneys' fees)
      arising from any claims or demands of any other broker or brokers or finders
      in
      connection with its participating with Tenant in the negotiating of this
      Amendment.


    5.  Lease
      in Full Force and Effect.
      Except
      for the provisions of this Amendment, all the terms, covenants and conditions
      of
      the Lease and all the rights and obligations of Landlord and Tenant thereunder,
      shall remain in full force and effect, and are not otherwise altered, amended,
      revised or changed.

     

    6.  Estoppel.
      Tenant
      and Landlord hereby each acknowledge that as of the date hereof, they have
      no
      claims arising under the Lease against the other party or its agents, or any
      one
      or more of the foregoing, and that neither knows of any default or failure
      on
      the part of the other party to keep or perform any covenant, condition or
      undertaking to be kept or performed by such other party under the
      Lease.

     

    7.  Exculpatory
      Provisions.
      It is
      expressly understood and agreed by and between the parties hereto, anything
      herein to the contrary notwithstanding, that each and all of the
      representations, warranties, covenants, undertakings and agreements herein
      made
      on the part of any Landlord while in form purporting to be the representations,
      warranties, covenants, undertakings, and agreements of such Landlord are
      nevertheless each and every one of them made and intended, not as personal
      representations, warranties, covenants, undertakings, and agreements by such
      Landlord or for the purpose or with the intention of binding such Landlord
      personally, but are made and intended for the purpose only of subjecting such
      Landlord's interest in the Building, the Land and the Premises to the terms
      of
      this Amendment and for no other purpose whatsoever, and in case of default
      hereunder by any Landlord (or default through, under, or by any of its agents
      or
      representatives), the Tenant shall look solely to the interests of such Landlord
      in the Building and Land; that neither Landlord nor Chicago Title Land Trust
      Company, as successor Trustee of Trust No 113370-03 shall have any personal
      liability to pay any indebtedness accruing hereunder or to perform any covenant,
      either express or implied, herein contained and no liability or duty shall
      rest
      upon any Landlord which is a land trust to sequester the trust estate or the
      rents, issues and profits arising therefrom, or the proceeds arising from any
      sale or other disposition thereof; that no personal liability or personal
      responsibility of any sort is assumed by, nor shall at any time be asserted
      or
      enforceable against, Landlord, Chicago Title Land Trust Company, as successor
      Trustee under Trust No. 113370-03 or any beneficiaries under any land trust
      which may become the owner of the Building, on account of this Amendment or
      on
      account of any representation, warranty, covenant, undertaking or agreement
      of
      Landlord in this Amendment contained, either express or implied, all such
      personal liability, if any, being expressly waived and released by Tenant and
      by
      all persons claiming by, through, or under Tenant; and that this Amendment
      is
      executed and delivered by the undersigned Landlord not in its own right, but
      solely in the exercise of the powers conferred upon it as such
      Trustee.

    
       
IN
      WITNESS WHEREOF, the parties have caused this Amendment to be executed on the
      date first above written.



    


    
      	
               LANDLORD:

            	 	 
	 	
              CHICAGO
                TITLE LAND TRUST COMPANY, as
                successor trustee to LASALLE BANK NATIONAL ASSOCIATION, as successor
                trustee to AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, as
                Trustee  foresaid and
                not personally

            
	 
 	 
 	 
 
	 	By:  	/s/ 
	 	
              

            
	 	its
              Trust Officer


    

    
      	 	 	 
	
               TENANT:

            	 
	 
 	 
 	 BioSante
              Pharmaceuticals, Inc.
 
	: 	By:  	/s/ Phillip
              B. Donenberg        
	 	
              

            
	 	
              Its:
                Chief Financial Officer, Treasurer, and
                Secretary