ndra_ex1018





 







Exhibit 10.18


 


 



SECOND AMENDMENT TO LEASE


 

THIS SECOND AMENDMENT TO LEASE (this
“Amendment”)
is made and entered into as of this 15th day of March, 2021 (the
“Effective
Date”) by and between GREEN COURT LLC, a Michigan limited liability
company (“Landlord”)
and ENDRA LIFE SCIENCES INC.
(formerly ENDRA INC.), a Delaware corporation
(“Tenant”).
Capitalized terms used in this Amendment without definition shall
have the meanings ascribed to such terms in the Lease (as
hereinafter defined).



RECITALS


 




A.            

Landlord and Tenant
entered into that certain Lease dated November 10, 2014, as amended
by a certain First Amendment to Lease dated October 10, 2017
(collectively the “Current
Lease”) for approximately 3,950 square feet of space
as described in the Lease (the “Existing
Premises”) in the building located at 3600 Green
Court, Ann Arbor, Michigan (the “Building”).
The Current Lease as amended by this Amendment shall be referred to
herein as the “Lease”.






 



B.            

Tenant desires to lease additional space in the
Building, containing approximately 3,248 square feet, commonly
known as Suite 300, and depicted on Exhibit
“B” (the
“Expansion
Space”), for the
remainder of the Term of the Lease.






 


NOW,
THEREFORE, in consideration of the mutual covenants, conditions and
agreements herein contained, Landlord and Tenant hereby agree that
the Lease is hereby amended as follows:




1.

The Term of the
Lease is hereby extended and shall now expire on December 31, 2025,
under all the same terms and conditions as the current Lease except
as provided herein.






 




2.

On May 1, 2021,
Landlord shall deliver possession of the Expansion Space to Tenant
(the “Expansion
Date”), and Tenant shall lease from Landlord the
Expansion Space on the terms and conditions as set forth in the
Lease with respect to the Demised Premises, except as otherwise
modified herein. Prior to delivery of the Expansion Space, Landlord
shall remove existing carpeting from the Expansion Space as
specified by the Tenant. Those areas where flooring is removed
floor will be in usable condition. In connection with the delivery
of the Expansion Space to Tenant, Landlord shall provide a tenant
improvement allowance to Tenant in the amount of $48,720.00 which
may be used by Tenant for physical improvements and modifications
to the Existing Premises or the Expansion Space (the
“Improvements”) to be undertaken by Landlord at the
direction of Tenant but with the prior written approval of
Landlord. To the extent the Improvements cost in excess of
$48,720.00, Tenant shall pay same to Landlord within twenty (20)
days of receipt by Tenant of an invoice therefor from Landlord.
Except as provided herein, Tenant will accept the Expansion Space
in its “As-Is” condition.






 




3.

Effective on the
Expansion Date, the “Demised
Premises” shall consist of 7,198 square
feet.






 




4.

Prior to the
Expansion Date, Tenant shall continue to pay Basic Rental set forth
in the Current Lease. Effective on the Expansion Date, the Basic
Rental shall be as follows (based on 7,198 square feet of
space):






 


	


Date

	

 


 



Sq. Ft. of Premises

	


Rent per Sq. Ft.

	


Annual Rent

	


Monthly Rent


	


1/1/21 - 4/30/21

	


3,950

	


$25.76

	


$101,752.00

	


$8,479.33


	


5/1/21 – 12/31/21

	


7,198

	


$25.76

	


$185,420.84

	


$15,451.71


	


1/1/22 - 12/31/22

	


7,198

	


$26.53

	


$190,962.94

	


$15,913.58


	


1/1/23 - 12/31/23

	


7,198

	


$27.33

	


$196,721.34

	


$16,393.45


	


1/1/24 - 12/31/25

	


7,198

	


$28.15

	


$202,623.70

	


$16,885.31







 






 












 






 




5.

Tenant shall
continue to be responsible for electricity usage in the Existing
Premises in accordance with Section 8.2 of the Lease. Until such
time as the Expansion Space is separately metered for electricity
by Landlord, Tenant shall be responsible for and pay for all
electricity usage in the Expansion Space by paying Landlord an
electrical usage charge of $1.25 per square foot per annum for the
Expansion Space, payable with rent in monthly installments of
$338.33 per month. From and after the date that the Expansion Space
is separately metered or added to the meter for the Existing
Premises, Tenant shall pay all electrical charges directly to the
utility company providing such service.






 




6.

The Lease, as
amended by this Amendment, sets forth the entire agreement between
the parties with respect to the matters set forth herein. Except as
hereinabove specifically provided to the contrary, all of the
remaining terms, covenants, and agreements contained in the Lease
shall remain in full force and effect and shall be applicable to
the Demised Premises as described in the Lease (as modified
hereby), and the Lease as herein amended is hereby acknowledged,
ratified, and confirmed by the parties hereto. In the event of any
inconsistency between this Amendment and the Lease, the provisions
of the Amendment shall govern and control.






 




7.

Landlord and Tenant
hereby represent to each other that neither party has dealt with
any broker in connection with this Amendment or the expansion of
the Demised Premises as described in this Amendment.






 




8.

Each signatory of
this Amendment represents hereby that he or she has the authority
to execute and deliver the same on behalf of the party hereto for
which such signatory is acting.






 




9.

This Amendment
shall bind, and inure to the benefit of, the parties hereto and
their respective successors and assigns.






 




10.

This Amendment
shall be construed and enforced in accordance with the laws of the
State of Michigan. The invalidity or enforceability of any
provision of this Amendment shall not affect or impair any other
provision.






 




11.

This Amendment may
be executed in multiple counterparts, each of which shall
constitute an original, and all of which when taken together shall
constitute one original. Delivery via facsimile or PDF transmission
of a counterpart of this Amendment as executed by the parties
making such delivery shall constitute good and valid execution and
delivery of this Amendment for all purposes.






 


[Remainder
of Page Intentionally Left Blank]


 






 








 






 


IN WITNESS WHEREOF, the parties have
executed this Amendment on the Effective Date.


 


	


LANDLORD:

	
 

	


TENANT:


	

 



GREEN COURT LLC, a Michigan
limited liability company


 

	
 

	

 



ENDRA LIFE SCIENCES INC., a Delaware
corporation


	

 


By:        
SS://JAMES
HOOBERMAN 


Printed: 
JAMES HOOBERMAN 


Its:         
MANAGER 


Date:     
3/16/21 

	
 

	

By:       
SS://DAVID
WELLS 


Printed:
DAVID WELLS


Its:        
CHIEF FINANCIAL
OFFICER                                                                 


Date:    
MARCH 15,
2021                                            


 


 


 


 


 


 


 


 


	
 

	
 

	
 







 


 


 




 








 






 



EXHIBIT “B”


 



SITE PLAN