Exhibit 10.11





 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED


         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        1  of 20
	 


 


SUBLEASE
AGREEMENT


 


THIS
SUBLEASE AGREEMENT (the "Sublease”) is entered into and effective this 1st day of March, 2014, between Diego
Pellicer Worldwide Inc (“Tenant”), and Diego Pellicer, Inc. ("Subtenant”). Tenant entered into a lease
(the “Master Lease") with M-P Properties as landlord ("Landlord”), dated September 19, 2013, leasing the
premises legally described on the attached Exhibit 1 (“Master Premises”). A copy of the Master Lease, including all
amendments, is attached as Exhibit 2. Tenant and Subtenant agree as follows:


 


		1.	SUBLEASE SUMMARY.




 


		a.	Subleased
                                         Premises. Tenant leases to Subtenant and Subtenant leases from Tenant that portion
                                         of the Master Premises consisting of an agreed area of 3,700 rentable square feet of
                                         area on the 1st & 2nd floor(s) of the Master Premises, outlined on the floor plan
                                         attached as Exhibit 3 (the “Subleased Premises"), and commonly known as Entire
                                         Building.



 


		b.	Sublease
                                         Commencement Date. The Sublease shall be for a period of 58 months and shall commence
                                         on March 1, 2014 or such earlier or later date as provided in Section 3 (the “Sublease
                                         Commencement Date").



 


		c.	Sublease
                                         Termination Date. The Sublease shall terminate at midnight on September 30, 2018 or
                                         one day prior to the termination date of the Master Lease, whichever is earlier, unless
                                         sooner terminated in accordance with the terms of this Sublease (the "Sublease Termination
                                         Date”).



 


		d.	Base
                                                                                                                                                                                                                                                                               Rent. Subtenant shall pay to Tenant base monthly rent (check one): ☐  $_________,
                                                                                                                                                                                                                                                                               or  þ according to the Rent Rider attached hereto (“Base
                                                                                                                                                                                                                                                                               Rent”), Rent                                          shall be payable at Tenant's address shown in Section 1(h) below,
                                                                                                                                                                                                                                                                               or such other place                                          designated in writing by Tenant.



 


		e.	Prepaid
                                         Rent. Upon execution of this Sublease, Subtenant shall deliver to Tenant the sum
                                         of $0.00 as prepaid rent, to be applied to the Rent due for months __________ through
                                         ____________ of the Sublease.



 


		f.	Security
                                         Deposit. Upon execution of this Sublease, Subtenant shall deliver to Tenant the sum
                                         of $0.00 to be held as a security deposit pursuant to Section 5 below. The security deposit
                                         shall be in the form of (check one): ☐  cash, ☐  letter of credit according to the Letter
                                         of Credit Rider (CBA Form LCR), attached hereto,  ☐ check.



 


		g.	Permitted
                                         Use. The Subleased Premises shall be used only for Sale & production of cannabis
                                         and related products, per Washington State law, and for no other purpose without the
                                         prior written consent of Tenant (The "Permitted Use”).



 




    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        2  of 20
	 





 


SUBLEASE
AGREEMENT


 


	 	h.	Notice and Payment Addresses




 


Tenant:
Diego Pellicer Worldwide Inc


21300 Victory
Blvd, Suite 740 


Woodland
Hills CA 91367


Fax No.:
________________


Email: __________________


Subtenant:
Diego Pellicer, Inc


2215 4th
Avenue S,


Seattle,
WA 98134


Fax No.:
________________


Email: __________________


 


	 	i.	Subtenant's Sublease Share. Subtenant’s Sublease Share of
any operating costs, additional rent, or other amounts payable by Tenant under the Master Lease is 100% of such amounts, based
upon the ratio of the agreed rentable area of the Subleased Premises to the agreed rentable area of the Master Premises




 


		2.	PREMISES.




 


		a.	Lease
                                         of Premises. Tenant leases to Subtenant, and Subtenant leases Tenant the Subleased
                                         Premises upon the terms specified in this Sublease.



 


		b.	Acceptance
                                         of Premises. Except as specified elsewhere in this Sublease, Tenant makes no representations
                                         or warranties to Subtenant regarding the Subleased Premises, including the structural
                                         condition of the Subleased Premises or the condition of all mechanical, electrical, and
                                         other systems on the Subleased Premises. Except for any Subtenant improvements described
                                         on attached Exhibit 4 to be completed by Tenant (“Tenant's Work”), Subtenant
                                         shall be responsible for performing any work necessary to bring the Subleased Premises
                                         into a condition satisfactory to Subtenant. By signing this Sublease, Subtenant acknowledges
                                         that it has had adequate opportunity investigate the Subleased Premises, acknowledges
                                         responsibility for making any corrections, alterations and repairs to the Subleased Premises
                                         (other than the Tenant's Work in Exhibit 4), and acknowledges that the time needed to
                                         complete any such items shall not delay the Sublease Commencement Date.



 


		c.	Subtenant
                                         Improvements. Attached Exhibit 4 sets forth all of Tenant's Work, if any, and all
                                         Subtenant improvements to be completed by Subtenant (the “Subtenant's Work”),
                                         that will be performed on the Subleased Premises. Responsibility for design, payment
                                         and performance of all such work shall be as set forth on attached Exhibit 4.



 




    	 



    	 



    

 






	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        3  of 20
	 





 


SUBLEASE
AGREEMENT


 


		3.	TERM.
Subtenant acknowledges that Tenant may need to receive Landlord's consent to this Sublease as provided in Sections 21 and
24 of this Sublease prior to Subtenant occupying the Subleased Premises, and Subtenant shall not occupy the Subleased Premises
without the prior written consent of Tenant. If Subtenant occupies the Subleased Premises before the Sublease Commencement Date
specified in Section 1, then such date of occupancy shall be the Sublease Commencement Date. If Tenant acts diligently to make
the Subleased Premises available to Subtenant, neither Tenant nor any agent or employee of Tenant shall be liable for any damage
or Toss due to Tenant's inability or failure to deliver possession of the Premises to Subtenant as provided on this Sublease.
In such case, the Rent shall abate until delivery of possession, but the Sublease Termination Date shall not be extended by such
delay. Notwithstanding the foregoing, if Tenant has not delivered possession to Subtenant within 60 days (sixty (60) days if not
filled in) after the date specified in Section 1, Subtenant may elect to cancel this Sublease by giving written notice to Tenant
within ten (10) days after such time period ends, if Subtenant gives such notice, this Sublease shall be cancelled, all prepaid
rent and security deposits shall be refunded to Subtenant, and neither Tenant nor Subtenant shall have any further obligations
to the other.



 


		4.	RENT.




 


		a.	Payment
                                                                                                                                                                                                                                                                               of Rent. Subtenant shall pay Tenant without notice, demand, deduction or offset, in lawful money of the United States,
                                                                                                                                                                                                                                                                               the monthly Base Rental stated in Section 1 in advance on or before the first day of each month during the Sublease Term
                                                                                                                                                                                                                                                                               beginning on (check one): þ
                                                                                                                                                                                                                                                                               the Sublease Commencement Date, or ☐ _____________________ (if no date specified, then on the Sublease Commencement
                                                                                                                                                                                                                                                                               Date), and any otter additional payments due to Tenant (“Additional Rent”) (collectively the "Rent”)
                                                                                                                                                                                                                                                                               when required under this Sublease. Payments for any partial month at the beginning or end of the Sublease term shall be
                                                                                                                                                                                                                                                                               prorated. All payments due to Tenant under this Sublease, including late fees and interest, shall also constitute Additional
                                                                                                                                                                                                                                                                               Rent, and upon failure of Subtenant to pay any such costs, charges or expenses, Tenant shall have the same rights and
                                                                                                                                                                                                                                                                               remedies as otherwise provided in this Sublease for the failure of Subtenant to pay rent.



 


		b.	Late
                                         Charges; Default Interest. If any sums payable by Subtenant to Tenant under this
                                         Sublease are not received within five (5) days of their due date, Subtenant shall pay
                                         Tenant an amount equal to the sum which would be payable by Tenant to the Landlord for
                                         an equivalent default under the master Lease or five percent (5%) of the delinquent amount
                                         for the cost of collecting and handling such late payment in addition to the amount due
                                         and as Additional Rent, whichever is greater All delinquent sums not paid by Subtenant
                                         within five (5) business days of the due date shall, at Tenant's option, be interest
                                         at the rate the Tenant would pay the Landlord under the Master Lease for an equivalent
                                         default or the highest rate of interest allowable by law, whichever is less. Interest
                                         on all delinquent amounts shall be calculated from the original due dale to the date
                                         of payment.





    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
 4 of 20
	 


 





SUBLEASE
AGREEMENT


 


		c.	Less
                                         Than Full Payment. Tenant's acceptance of less than the full amount of any payment
                                         due from Subtenant shall not be deemed an accord and satisfaction or compromise of such
                                         payment unless Tenant specifically consents in writing to payment of such lesser sum
                                         as an accord and satisfaction or compromise of the amount which Tenant claims. Any portion
                                         that remains to be paid by Tenant shall be subject to the late charges and default interest
                                         provisions of this Section.



 


		5.	SECURITY
    DEPOSIT. Upon execution of this Sublease, Subtenant shall deliver to Tenant the security deposit specified in Section
    1 above. Tenant’s obligations with respect to the security deposit are those of a debtor and not of a trustee, and Tenant
    may commingle the security deposit with its other funds. If Subtenant breaches any covenant or condition of this Sublease,
    including but not limited to the payment of Rent, Tenant may apply all or any part of the security deposit to the payment
    of any sum in default and any damage suffered by Tenant as a result of Subtenant's breach. Subtenant acknowledges, however,
    that the security deposit shall not be considered as a measure of Subtenant’s damages in case of default by Subtenant
    and any payment to Tenant from the security deposit shall not be construed as a payment of liquidated damages for Subtenant's
    default. If Tenant applies the security deposit as contemplated by this Section, Subtenant shall, within five (5) days after
    written demand therefore by Tenant, deposit with Tenant the amount so applied. If Subtenant complies with all of the covenants
    and conditions of this Sublease throughout the Sublease term, the security deposit shall be repaid to Subtenant without interest
    within thirty (30) days after the surrender of the Subleased Premises by Subtenant in the condition required by Section 9
    of this Lease.




 


		6.	MASTER LEASE. Tenant represents to Subtenant: (a) that Tenant has
delivered to Subtenant a full and complete copy of the Master Lease and all other agreements between Landlord and Tenant relating
to the leasing, use, and occupancy of the Subleased Premises (which may contain redacted business terms) and (b) that Tenant has
received no uncured default notice from Landlord under the Master Lease. Tenant shall not agree to an amendment to the Master
Lease which would have an adverse effect on Subtenant's occupancy of the Subleased Premises or its use of the Subleased Premises
for their intended purpose, without obtaining Subtenant's prior written approval, which shall not be unreasonably withheld, conditioned,
or delayed. Subtenant represents that it has read and is familiar with the terms of the Master Lease.




 


This
Sublease is subject and subordinate to the Master Lease. If the Master Lease terminates, this Sublease shall terminate. Tenant
and Subtenant shall not, by their omission or act, do or permit anything to be done which would cause a default under the Master
Lease. If the Master Lease terminates or is forfeited as a result of a default or breach by Tenant or Subtenant under this Sublease
and/or the Master Lease, then the defaulting party shall be liable to the non-defaulting party for the damage suffered as a result
of such termination or forfeiture. Tenant shall exercise due diligence in attempting to cause Landlord to perform its obligations
under the Master Lease for the benefit of the Subtenant.


 


All
the terms, covenants and conditions contained in the Master Lease are incorporated into and made a part of this Sublease as if
Tenant were the landlord under the Master Lease, the Subtenant were the tenant under the Master Lease, and the Subleased Premises
were the Master Premises except as may be inconsistent with the terms contained in this Sublease and the following: Sublessor
may cancel sublease, in Sublessors sole & absolute discretion, by giving Subtlessee 90 days written notice (none if not specified).


 






    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        5  of 20
	 


 


SUBLEASE
AGREEMENT


 


		7.	ADDITIONAL
                                         CHARGES. If Tenant shall be charged for additional rent or other sums pursuant to
                                         the provisions of the Masker Lease, Subtenant shall be liable for its Sublease Share,
                                         stated in Section 1 above, of such additional rent or sums, including without limitation,
                                         payments for taxes, common area charges, utilities and services, or operating costs.
                                         If any such rent or sums shall be due to excessive use by Subtenant of utilities or services
                                         provided to the Subleased Premises, as reasonably determined by Tenant, such excess shall
                                         be paid in its entirety by Subtenant. If Subtenant shall procure any additional service
                                         for the Subleased Premises, including but not limited to after-hour HVAC services, Subtenant
                                         shall pay for same at the rates charged by Landlord and shall make such payment to Tenant
                                         or Landlord, as Tenant shall direct. Tenant shall have no duty to perform any obligations
                                         which are, by their nature, the obligation of an owner or manager of real property. Any
                                         rent or other sums payable by Subtenant under this Section shall be Additional Rent and
                                         paid to Tenant no later than five (5) days before they are due from Tenant to Landlord.
                                         If Tenant shall receive any refund for Additional Rent or sums paid under the Master
                                         Lease, Subtenant shall be entitled to the return of so much thereof as shall be attributable
                                         to prior payments by Subtenant. Tenant shall, upon request by Subtenant furnish Subtenant
                                         with copies of all statements submitted by Landlord of actual or estimated Additional
                                         Rent or sums.



 


Notwithstanding
anything herein, contained, the only services or utilities to which Subtenant is entitled under this Sublease are those to which
Tenant is entitled under the Master Lease.


 


		8.	ALTERATIONS.
                                         Subtenant may make alterations, additions or improvements to the Subleased Premise,
                                         including any of Subtenant's Work identified on attached Exhibit 4 (the “Alterations”),
                                         with the prior written consent of Tenant. The term “Alterations" shall not
                                         include the installation of shelves, movable partitions, Subtenant’s equipment,
                                         and trade fixtures which may be performed without damaging existing improvements or the
                                         structural integrity of the Subleased Premises, and Tenant's consent shall not be required
                                         for Subtenant's installation of those items except to the extent Tenant must obtain the
                                         consent of Landlord under the Master Lease for such installations. Subtenant shall perform
                                         all work within the Subleased Premises at Subtenant's expense in compliance with all
                                         applicable laws and shall complete all Alterations in accordance with plans and specifications
                                         approved by Tenant, using contractors approved by Tenant, and in a manner so as to not
                                         unreasonably interfere with other tenants. Subtenant shall pay, when due, all claims
                                         for labor or materials furnished to or for Subtenant at or for use in the Subleased Premises,
                                         which claims are or may be secured by any mechanics' or materialmens’ liens against
                                         the Subleased Premises or any interest therein. Subtenant shall remove all Alterations
                                         at the end of the Sublease term unless Tenant conditioned its consent upon Subtenant
                                         leaving a specified Alteration at the Subleased Premises, in which ease Subtenant shall
                                         not remove such Alteration and it shall become Landlord's property. Subtenant shall in
                                         repair any damage to the Subleased Premises caused by removal of Alterations.



 


		9.	REPAIRS
                                         AND MAINTENANCE; SURRENDER. Subtenant shall, at its sole expense, maintain the Subleased
                                         Premises in good condition and promptly make all repairs and replacements, whether structural
                                         or non-structural, necessary to keep the Subleased Premises safe and in good condition,
                                         including all utilities and other systems serving the Subleased Premises. Subtenant shall
                                         not damage any demising wall or disturb the structural integrity of the Subleased Premises
                                         and shall promptly repair any damage or injury done to any such demising walls or structural
                                         elements caused by Subtenant or its employees, officers, agents, servants, contractors,
                                         customers, clients, visitors, guests, or other licensees or invitees. If Subtenant fails
                                         to maintain or repair the Subleased Premises, Tenant may enter the Subleased Premises
                                         and perform such repair or maintenance on behalf of Subtenant In such case, Subtenant
                                         shall be obligated to pay to Tenant immediately upon receipt of demand for payment as
                                         additional Rent all costs incurred by Tenant, Subtenant shall only be obligated to repair
                                         or maintain those portions of the Subleased Premises as provided in the Master Lease.
                                         Tenant shall not be required to perform changes to the Subleased Premises because of
                                         the enactment of any law, ordinance, regulation or code during the Sublease term. Notwithstanding
                                         anything in this Section to the contrary, Subtenant shall not be responsible for any
                                         repairs to the Subleased Premises made necessary by the acts of Tenant, Landlord or their
                                         employees, officers, agents, servants, contractors, customers, clients, visitors, guests,
                                         or other licensees or invitees.



 




    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        6  of 20
	 


 


SUBLEASE
AGREEMENT


 


Upon
expiration of the Subleased Lease term, whether by lapse of time or otherwise, Subtenant shall promptly and peacefully surrender
the Subleased Premises, together with all keys, to Tenant in as good condition as when received by Subtenant or as thereafter
improved, reasonable wear and tear and insured casualty excepted.


 


		10. 	ACCESS AND RIGHT OF ENTRY. After reasonable notice from Tenant (except
in cases of emergency, where no notice is required), Subtenant shalt permit Tenant and/or Landlord and their agents, employees
and contractors to enter the Subleased Premises at all reasonable times to make repairs, alterations, improvements or inspections.
This Section shall not impose any repair or other obligation upon Tenant not expressly stated elsewhere in this Sublease After
reasonable notice to Subtenant, Tenant or Landlord shall have the right to enter the Subleased Premises for the purpose of (a)
showing the Subleased Premises to prospective purchasers or lenders at any time, and to prospective tenants within one hundred
eighty (180) days prior to the expiration or sooner termination of the Sublease term; and (b) for posting “for lease"
signs within one hundred eighty (180) days prior to the expiration or sooner termination of the Sublease term.




 


		11.	DESTRUCTION
                                         OR CONDEMNATION.



 


		a.	Damage
                                         and Repair. If Landlord or Tenant terminate the Master Lease based on casualty to
                                         the property in accordance with the Master Lease, this Sublease shall terminate on the
                                         same date. If the Subleased Premises or the portion of the property necessary for Subtenants
                                         occupancy are damaged, destroyed or rendered untenantable, by fire or other casualty,
                                         Tenant may, at its option: (a) terminate this Sublease, or (b) restore (or cause Tenant
                                         to restore) the Subleased Premises and the portion of the property necessary for Subtenant’s
                                         occupancy to their previous condition. Provided, however, if such casualty event occurs
                                         during the last six (6) months of the Sublease term (after considering any option to
                                         extend the term timely exercised by Subtenant) then either Subtenant or Tenant may elect
                                         to terminate this Sublease. If, within sixty (60) days after receipt by Tenant from Subtenant
                                         of written notice that Subtenant deems the Subleased Premises or the portion of the property
                                         necessary for Tenant's occupancy untenantable. Tenant fails to notify Subtenant of its
                                         election to restore those areas, or if Tenant is unable to restore those areas within
                                         six (6) months of the date of the casualty event, then Subtenant may elect to terminate
                                         this Sublease



  




    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
7 of 20
	 


 


SUBLEASE
AGREEMENT


 


If
Tenant restores the Subleased Premises or the property under this Section, Tenant shall proceed with reasonable diligence to complete
the work, and the base lent shall be abated in the same proportion as the untenantable portion of the Subleased Premises bears
to the whole Subleased Premises, provided that there shall be a rent abatement only if the damage Of destruction of the Subleased
Premises or the property did not result from, or was not contributed to directly or indirectly by the act, fault or neglect of
Subtenant or Subtenant's employees, officers, agents, servants, contactors, customers, clients, visitors, guests, or other licensees
or invitees. Provided, if Tenant complies with its obligations under this Section, no damages, compensation or claim shall be
payable by Tenant for inconvenience, loss of business or annoyance directly, incidentally or consequentially arising from any
repair or restoration of any portion of the Subleased Premises or the property. Tenant shall have no obligation to carry insurance
of any kind for the protection of Subtenant Or any alterations or improvements paid for by Subtenant; any Subtenants Work identified
in Exhibit 4 (regardless of who may have contemplated them); Subtenants furniture; or on any fixtures, equipment improvements
or appurtenances of Subtenant under this Lease. and Tenant shall not be obligated to repair any damage thereto or replace the
same unless the damage is caused by Tenant's negligence.


 


		b.	Condemnation.
                                         If the Landlord or Tenant terminate the Master Lease based on a provision in the
                                         Master Lease relating to eminent domain or conveyance under threat of condemnation, this
                                         Sublease shall terminate on the same date if the Sub teased Premises, the portion of
                                         the property necessary far Subtenants occupancy, or 50% or more of the rentable area
                                         of the property are made untenantable by eminent domain, or conveyed under a threat of
                                         condemnation, this Sublease shall terminate at the option of Tenant or Subtenant as of
                                         the earlier of the date title vests in the condemning authority or the condemning authority
                                         first has possession of the portion of the property taken by the condemning authority.
                                         All Rent and other payments shall be paid to that date.



 


If
the condemning authority takes a portion of the Subleased Premises or the portion of the property necessary for Subtenant's
occupancy That does not render them untenantable, then this Sublease shall continue in full force and effect and the base
Rent shall be equitably reduced based on the proportion by which the floor area of any structures is reduced. The reduction
in Rent shall be effective on the earlier of the date the condemning authority first has possession of Such portion or title
vests in the condemning authority. The Subleased Premises or the portion of the property necessary for Subtenant's
occupancy shall riot be deemed untenantable if 25% or less of each of those areas IS condemned, As between Tenant and
Subtenant, Tenant shall be entitled to the entire award from the condemning authority attributable to the value of the
Subleased Premises or the property and Tenant shall make no claim for the value of its leasehold. Subtenant shall be
permitted to make a separate claim against the condemning authority for moving expenses or damages resulting from
interruption in its business if Subtenant may terminate this Sublease under this Section, provided that in no event shall
Subtenant's claim reduce Landlord's or Tenant's award.


 


		12.	INSURANCE.
                                         Subtenant shall procure and maintain, at its own cost and expense, such liability
                                         insurance as is required to be carried by Tenant under the Master Lease, naming Tenant
                                         as well as Landlord, as additional insureds, in the mariner required therein, and property
                                         ir8urance as is required to be carried by Tenant under the Master Lease to the extent
                                         property insurance pertains to the Subleased Premises. If the Master Lease requires Tenant
                                         to insure leasehold improvements or alterations, then Subtenant shall insure the leasehold
                                         improvements which are located in the Subleased Premises, as well as alterations in the
                                         Subleased Premises made by Subtenant, Subtenant shall furnish to Tenant a certificate
                                         of Subtenant's insurance required hereunder not later than ten (10) days prior to Subtenant's
                                         taking possession of the Subleased Premises. Tenant shall carry insurance as required
                                         by the Master Lease and shall not be obligated to carry fire or other insurance if Landlord
                                         is obligated to carry it under the Pilaster Lease.



 




    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
8 of 20
	 


 





SUBLEASE
AGREEMENT


 


Tenant
and Subtenant hereby release each other and any other tenant, their employees, officers, agents, servants, contractors, customers,
chants, visitors, guests, or other licensees or invitees, from responsibility for and waive their entire claim of recovery for
any loss or damage arising from any cause covered by property insurance required to be carried by each of then Each party shall
provide notice to the property insurance carrier or carriers of this mutual waiver of subrogation, and shall cause its respective
property insurance carriers to waive all rights of subrogation against the other. This waiver shall not apply to the extent of
the deductible amounts to any such policies or lo the extent of liability exceeding the limits of such policies. Tenant agrees
to use reasonable efforts to obtain from Landlord the same waives of claims for any loss or damage arising from any cause covered
by property insurance required to be serried by Landlord under the Master Lease and, if and to the extent of such waiver by Landlord,
Subtenant agrees to the same waiver.


 


		13.	ASSIGNMENT
AND SUBLETTING. Subtenant shall not assign, sublet encumber or otherwise transfer any interest in this Sublease or any part
of the Subleased Premises (collectively referred to as a "Transfer), without first obtaining the written consent of Tenant,
which shall not be unreasonably withheld or delayed Tenant may condition its consent on (a) obtaining any required consent from
Landlord; and (b) Subtenant satisfying any conditions OR the Transfer imposed by Landlord; and (c) such other reasonable conditions
that. Tenant may impose. No Transfer shall relieve Subtenant of any liability under this Sublease notwithstanding Tenant's consent
lo such Transfer Consent to any Transfer shall not operate as a waiver of the necessity for Tenant's consent to any subsequent
Transfer. In connection with each request for consent to a Transfer, Subtenant shall pay the reasonable cost of processing same,
including attorneys' fees and any cost charged by Landlord for granting its consent under the Master Lease, upon demand of Tenant.



 


If
Subtenant is a partnership, limited liability company, corporation, or Other entity, any transfer of this Sublease by merger,
consolidation, redemption or liquidation, or any change in the ownership of. or power to vote, which singularly or collectively
represents a majority of the beneficial interest in Subtenant, snail Coils-Mute a Transfer.


 


As
a condition to the Landlord's and Tenant's approval, if given, any potential assignee of sublease otherwise approved shall assume
all obligations of Subtenant under this Sublease and shalt be jointly and severally liable with Subtenant and any guarantor, if
required, for the payment of Rent and other charges due hereunder and performance of all terms of this Sublease. In connection
with any Transfer, Subtenant shall provide Landlord and Tenant with copies of all assignments, subleases and assumption agreements
and documents.


 


		14.	MORTGAGE
                                         SUBORDINATION AND ATTORNMENT. This Sublease shall automatically be subordinate to
                                         any mortgage or deed of trust created by Landlord to the extent the Master Lease is subordinate
                                         la the same mortgage or deed of trust, arid Subtenant shall attorn on the same terms
                                         and conditions as the Tenant in the Master Lease, provided Subtenant shall enjoy the
                                         terms and conditions relating to such subordination and attornment to the same extent
                                         Tenant does under the terms of the Master Lease.



 




    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        9  of 20
	 


 





SUBLEASE
AGREEMENT


 


		15.	HOLDOVER.
                                         If Subtenant shall, without the written consent of Tenant, remain in possession of
                                         the Subleased Premises and fail to return the Premises to Landlord after the expiration
                                         or teerndnabon of the Sublease, the tenancy shall be a holdover tenancy and shall be
                                         on a miTirrth-lb-month basis, which may be terminated accoitfing to Washington law. Unless
                                         a different rate is agreed upon by Tenant, Subtenant agrees to pay to Tenant 150% of
                                         the rate of Rent last payable under this Sublease or the holdover rental rate provided
                                         in the Master Lease, whichever is greater during any holdover tenancy, AM other terms
                                         of the Sublease sham remain in effect.



 


		16.	NOTICES.
                                         All notices under this Sublease shall be in 'writing and effective (I) when delivered
                                         in person or via overnight courier to the other party, (ii) three (3) days after being
                                         sent by registered or certified mail to the other party at the addresses set forth in
                                         Section 1; or upon confirmed transmission by facsimile to the other party at the facsimile
                                         numbers set forth in Section 1. The addresses for notices and payment of Rent set forth
                                         in Section 1 may be modified by either party only by written notice delivered in conformance
                                         with this Section.



 


		17.	ESTOPPEL
                                         CERTIFICATES. Upon the written request of Tenant, Subtenant shall deliver to Tenant
                                         endear Landlord or heir designee a written estoppel certificate on the same terms and
                                         conditions as required by Tenant under the Master Lease.



 


		18.	GENERAL.



 


		a.	Heirs
                                         and Assigns. This Sublease shall apply to and be binding upon Tenant and Subtenat
                                         and their respective heirs, executors, administrators, successors and assigns.



 


		b.	Brokers'
                                         Fees. Subtenant represents and warrants to Tenant that except for Subtenant's
                                         Broker, if any, described and disclosed in Section 20 of this Lease, it has not engaged
                                         any firm, finder or other person who would be entitled to any commission or fees for
                                         the negotiation, execution or delivery of this Sublease and shall indemnify and hold
                                         harmless Tenant against any loss, cost, liability or expense incurred by Tenant as a
                                         result of any claim asserted by any such firm, finder or other person on the basis of
                                         any arrangements or agreements made or alleged to have been made by or on behalf of Subtenant.
                                         Tenant represents and warrants to Subtenant that except for Landlord's Broker, if
                                         any, described and disclosed in Section 20, it has not engaged any firm, finder or
                                         other person who would be entitled to any commission or fees for the negotiation, execution
                                         or delivery of this Sublease and shall indemnify and hold harmless Subtenant against
                                         any loss, cost, liability or expense incurred by Subtenant as a result of any claim asserted
                                         by any such firm, finder or other person on the basis of any arrangement or agreements
                                         made or alleged in have been made by or on behalf of Tenant.



 


		c.	Entire
                                         Agreement. This Sublease, which incorporates portions of the Master Lease, contains
                                         all of the covenants and agreements between Tenant and Subtenant relating to the Subleased
                                         Premises. No prior or contemporaneous agreements or understandings pertaining to the
                                         Sublease shall be valid or of any force or effect and the covenants and agreements of
                                         this Sublease shall not be altered, modified, or amended to except in writing signed
                                         by Tenant and Subtenant.



 




    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
10 of 20
	 





 


SUBLEASE
AGREEMENT


 


		e.	Governing
                                         Law. This Sublease shall be governed by and construed in accordance with the laws
                                         of the State of Washington.



 


		f.	Memorandum
                                         of Sublease. Except for the pages containing the Commission Agreement, the Legal
                                         descriptions, and the signatures of the Tenant and Subtenant (all of which may be recorded
                                         by Tenants Broker), this Sublease shall not be recorded. However, if permitted by the
                                         Master Lease, Tenant and Subtenant shall, at the other's request, execute and record
                                         a memorandum of Sublease in recordable form that identifies Tenant and Subtenant, ire
                                         commencement and termination dates of the Sublease, and the legal description of the
                                         Master Premises and Subleased Premises.



 


		g.	Submission
                                         of Sublease Form Not an Offer. One party's submission of this Sublease to the other for review shall not constitute an offer to sublease the Subleased Premises.
                                         This Sublease shall not become effective and binding upon Tenant and Subtenant until
                                         It has been fully signed by both Tenant and Subtenant, and consented to by Landlord (if
                                         required by the Master Lease).



 


		h.	Authority
                                         of Parties. Each party signing this Sublease represents and warrants to the other that it has the authority to enter into this Sublease, that the execution and delivery
                                         of this Sublease has been duly authorized, and that upon such execution and delivery
                                         this Lease shall be binding upon and enforceable against the party on signing.



 


		19.	EXHIBITS
                                         AND RIDERS. The following exhibits and riders are made a pat of this Sublease:



 


Exhibit
1: Legal Description of the Master Premises


Exhibit
2: Master Lease


Exhibit
3: Outline of Subleased Presnises


Exhibit
4: Tenant Improvement Schedule


Other:
Rent Rider


 


		20.	AGENCY
                                         DISCLOSURE. At the signing of this Lease,



 


Tenant
is represented by N/A (insert name of Broker and Firm as licensed) (the “Tenant's Broker”);


 


and
Subtenant is represented by N/A (insert name  of Broker and Firm as licensed) (the "Subtenant's
Broker”).


 


This
Agency Disclosure creates an agency relationship between Subtenant, Subtenants Broker (if any such person is disclosed), and any
managing brokers who supervise Subtenant's Broker's performance (collectively the "Supervising Brokers"). In addition,
this Agency Disclosure creates an agency relationship between Tenant, Tenant's Broker (if any such person is disclosed), and any
managing brokers who supervise Tenant's Broker’s performance (also collectively the 'Supervising Brokers"). If Tenants
Broker and Subtenant's Broker are different real estate licensees affiliated with the same Firm, then both Tenant and Subtenant
confirm their consent to that Firm and bah Tenant's and Subtenant's Supervising Brokers acting as dual agents. If Tenant's Broker
and Subtenant's Broker are the same real estate licensee who represents both parties, then both Subtenant and Tenant acknowledge
that the Broker, his or her Supervising Brokers, and his or her Firm are acting as dual agents and hereby consent to such dual
agency, If Tenant's Broker, Subtenants Broker, their Supervising Brokers, or their Firm are dual agents Subtenant and Tenant consent
to Tenant's Broker, Subtenant's Broker, and their Firm being compensated based on a percentage of the rent or as otherwise disclosed
on an attached addendum. Neither Tenant's Broker, Subtenant's Broker nor either of their Firms are receiving compensation from
mete than one party to this transaction unless otherwise disclosed on an attached addendum, in which case Subtenant and Tenant
consent to such compensation Subtenant and Tenant confirm receipt of the pamphlet entitled “The Law of Real Estate Agency.”


 


 






    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
11 of 20
	 





 


SUBLEASE
AGREEMENT


 


		21.	CONSENT
                                         BY LANDLORD. This Sublease shall be of no force or effect unless consented to by
                                         Landlord within 10 days of execution, if such consent is required under the Master Lease.
                                         Tenant and Subtenant agree for the benefit of Landlord, that this Sublease and Landlord's
                                         consent shall not (a) create privity of contract between Landlord and Subtenant; (b)
                                         be deemed to have amended the Master Lease in any regard (unless Landlord shall have
                                         expressly agreed in writing to such amendment); or (c) be construed as a consent by Landlord
                                         to any future assignment or subletting Landlord's consent shaft, however. be deemed evidence
                                         of Landlord's agreement that Subtenant may use the Subleased Premises for the purpose
                                         set forth in Section 1(g) and that Subtenant shall be entitled to the waiver of claims
                                         and of the right of subrogation as provided in Section 12, Insurance, above.



 


		22.	COMMISSION
                                         AGREEMENT. If Tenant has not entered into a Irsbng agreement (or other compensation
                                         agreement with Tenants Firm). Tenant agrees to pay a commission to Tenants Firm (as identified
                                         in the Agency Disclosure Section above) as follows:



 


☐      $N/A


☐      N/A%
of the gross rent payable pursuant to this Sublease


☐      $N/A per square foot of the Subleased Premises


☐      Other
N/A


 


Tenant's
Broker ☐  shall ☐  shall not (shall not if not filled in) be entitled to a commission upon the extension by
Subtenant of the Sublease term pursuant to any right reserved to Subtenant under the Sublease calculated ☐  as provided
above or ☐  as follows___________________ (if no box is checked, as provided above). Tenant's Broker ☐ shall
☐  shall not (shall not if not filled in) be entitled to a commission upon any expansion of the Subleased Premises
pursuant to any right reserved to Subtenant under the Sublease, calculated ☐  as provided above or ☐  as
follows ____________________ (if no box is checked, as provided above).


 


Any
commission shall be earned upon execution of this Sublease and paid one-half upon execution of the Sublease and one-half upon
occupancy of the Subleased Premises by Subtenant Tenant's Broker shall pay to Subtenant's Broker (as identified in the Agency
Disclosure section above), the amount stated in a separate agreement between them or, if there is no agreement $N/A of% (complete
only one) of any commission paid to Tenants Broker, within live (5) days after receipt by Tenants Broker.


 




    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
12 of 20
	 


 


SUBLEASE
AGREEMENT


 


If
any other lease or sale is entered into between Tenant and Subtenant pursuant to a right reserved to Subtenant under
the Sublease, Tenant ☐  shall ☐  shall not (shall not if not filled in) pay an additional commission according to
any commission agreement or, in the absence of one, according to Tenant's Broker's commission schedule in effect as of
the execution of this Sublease Tenant's successor shall be obligated to pay any unpaid commissions upon any, transfer of
this Sublease and any such transfer shall not release the transferor from liability to pay such commissions.


 


		23.	BROKER
                                         PROVISIONS.



 


TENANTS
BROKER AND SUBTENANT'S BROKER HAVE MADE NO REPRESENTATIONS OR WARRANTIES CONCERNING THE SUBLEASED PREMISES; THE MEANING OF THE
TERMS AND CONDITIONS OF THIS SUBLEASE; LANDLORD'S, TENANTS OR SUBTENANT'S FINANCIAL STANDING; ZONING; COMPLIANCE OF THE SUBLEASED
PREMISES WITH APPLICABLE LAWS; SERVICE OR CAPACITY OF UTILITIES, OPERATING COSTS; OR HAZARDOUS MATERIALS. LANDLORD, TENANT AND
SUBTENANT ARE EACH ADVISED TO SEEK INDEPENDENT LEGAL ADVICE ON THESE AND OTHER MATTERS ARISING TINDER THIS SUBLEASE.


 


	 	 	 	 
	 	TENANT:	 	SUBTENANT:
	 	 	 	 
	 	Diego
    Pellicer Worldwide Inc	 	Diego
    Pellicer, Inc.
	 	TENANT:	 	SUBTENANT:
	 	 	 	 
	 	Ron
    Throgmartin	 	Peter
    Norris
	 	By:	 	By:
	 	 	 	 
	 	Chief
    Executive Officer	 	Chief
    Executive Officer
	 	Its:	 	Its:


 


		24.	LANDLORD'S
                                         CONSENT.



 


Landlord
consents to the foregoing Sublease without wavier of any restriction in the Master Lease concerning further assignment, subletting
or transfer. Landlord represents that the Master Lease constitutes the entire agreement of Landlord and Tenant concerning the
leasing of the Master Premises and has not been amended or modified except as expressly set forth in Exhibit 2. Landlord further
represents that, to Landlord's knowledge, Tenant is currently in full compliance with its obligations under the Master Lease.




 



    	 



    	 



    



 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
13 of 20
	 


 


SUBLEASE AGREEMENT


 





	 		 
	 	LANDLORD:	 
	 	 	 
	 	 	 
	 	LANDLORD:	 
	 	 	 
	 	 	 
	 	By:	 
	 	 	 
	 	 	 
	 	Its:	 







 


 


 


 






    	 



    	 



    




 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
14 of 20
	 


  




SUBLEASE AGREEMENT


  


 


	 	)	 
	STATE OF WASHINGTON	)	SS.
	COUNTY OF________________________	)	 






 


 


I certify that I know or have
satisfactory evidence that __________________________________is the person who appeared before me and said person
acknowledged that____________________________signed this instrument, on oath stated that _______________________ was
authorized to execute the instrument and acknowledged it as the________________________________________________ of ____________________________to be
the free and voluntary act of such party for the uses and purposes mentioned in the instrument.


 


Dated this___________________________day
of___________________________, 20_____,


 





	 	
	 	(Signature of Notary)
	 	
	 	(Legibly Print or Stamp Name of
Notary)
	 	Notary public in and for the state
of Washington,
	 	residing at___________________________
	 	My appointment expires______________________


 





	 	)	 
	STATE OF WASHINGTON	)	SS.
	COUNTY OF________________________	)	 


 


I certify that I know or have
satisfactory evidence that __________________________________ is the person who appeared before me and said person
acknowledged that _____________________________________ signed this instrument, on oath stated
that_____________________________________was authorized to execute the instrument and acknowledged it as
the_________________________of_______________________to be the free and voluntary act of such party for the uses
and purposes rnentioned  in the instrument



 


Dated this___________________________day
of___________________________, 20_____,


 





	 	
	 	(Signature of Notary)
	 	
	 	(Legibly Print or Stamp Name of
Notary)
	 	Notary public in and for the state
of Washington,
	 	residing at___________________________
	 	My appointment expires______________________


 






    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
15 of 20
	 


 




SUBLEASE AGREEMENT


  


 


	 	)	 
	STATE OF WASHINGTON	)	SS.
	COUNTY OF________________________	)	 






 


 


I certify that I know or have
satisfactory evidence that __________________________________is the person who appeared before me and said person
acknowledged that____________________________signed this instrument, on oath stated that _______________________ was
authorized to execute the instrument arid acknowledged it as the________________________________________________ of ____________________________to be
the free and voluntary act of such party for the uses and purposes mentioned in the instrument.


 


Dated this___________________________day
of___________________________, 20_____,


 





	 	
	 	(Signature of Notary)
	 	
	 	(Legibly Print or Stamp Name of
Notary)
	 	Notary public in and for the state
of Washington,
	 	residing at___________________________
	 	My appointment expires______________________


 





	 	)	 
	STATE OF WASHINGTON	)	SS.
	COUNTY OF________________________	)	 


 


I certify that I know or have
satisfactory evidence that __________________________________ is the person who appeared before me and said person
acknowledged that _____________________________________ signed this instrument, on oath stated
that_____________________________________was authorized to execute the instrument and acknowledged it as
the_________________________of_______________________to be the free and voluntary act of such party for the uses
and purposes rnentioned  in the instrument



 


Dated this___________________________day
of___________________________, 20_____,


 





	 	
	 	(Signature of Notary)
	 	
	 	(Legibly Print or Stamp Name of
Notary)
	 	Notary public in and for the state
of Washington,
	 	residing at___________________________
	 	My appointment expires______________________


 






    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
16 of 20
	 


 


SUBLEASE AGREEMENT


 


 


EXHIBIT 1


[Legal Description of Master Premises]





 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


Exhibit
1


 







    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
17 of 20
	 


 





SUBLEASE AGREEMENT


 


 


EXHIBIT 2

[Master Lease]


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


Exhibit
2


 






    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
18 of 20
	 


 


SUBLEASE AGREEMENT


 


 


EXHIBIT 3


[Outline of the Subleased Premises]





 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


Exhibit 3  


 



    	 



    	 



    

 


	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
19 of 20
	 


 


SUBLEASE AGREEMENT


 


EXHIBIT 4


[Subtenant Improvement Schedule]


 


1.Subtenant Improvements to be Completed
by Tenant


 


2.Subtenant Improvements to be Completed
by Subtenant


 






    	 



    	 



    

 





	 	 	Regency
    Group, Inc.

    Commercial Real Estate

    12301 NE 10th PI, Suite 301

    Bellevue, WA 98005

    Phone: (425) 454-4000

    Fax: (425) 451-1642	 	©
                                         Commercial Brokers

        Association
        2011

        ALL
        RIGHTS RESERVED

         

        CBA
        Form SUB-LS

        Sublease
        Agreement

        Page
        20  of 20
	 


 


Rent Rider


 


This Rent Rider ("Rider") is a part
of the lease agreement dated March 1, 2014 (the "Lease") between Diego Pellicer Worldwide Inc, ("Sublessor") and
Diego Pellicer Inc. ("Sublessee concerning the space commonly known as the "Premises", located at the property
commonly known as 2215 4th Avenue S., Seattle, WA 98134 (the "Property).


 


Base Monthly Rent Schedule. Sublessee
shall pay Sublessor base monthly rent during the Sublease Term according to the following schedule:


 





	Lease Year (Stated in Years or Months)	 	Base Monthly Rent Amount
	 	 	 
	03/01/14 - 09/30/14	 	$0.00 
	10/01/14 - 09/30/15	 	$12,420.00 plus NNN
	10/01/15 - 09/30/16	 	$12,854.70 plus NNN
	10/01/16 - 09/30/17	 	$13,304.62 plus NNN
	10/01/17 - 09/30/18	 	$13,770.28 plus NNN














 


 


Initials:
         Sublessor   Date: 03/01/14
   
         Sublessee                
Date: