Document:

Lease for LTI Property

 Exhibit 10.4 

 
  

 
 LEASE
AGREEMENT 
 made by and between 
 the parties shown on Exhibit E attached hereto, 
 and 

INVITROGEN CORPORATION, 
 a Delaware Corporation 
 dated as of 

February 8, 2006 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 1.
	  	 Demise of Premises
	  	 	1	  
	 2.
	  	 Certain Definitions
	  	 	1	  
	 3.
	  	 Title and Condition
	  	 	4	  
	 4.
	  	 Use of Leased Premises; Quiet Enjoyment
	  	 	5	  
	 5.
	  	 Term
	  	 	6	  
	 6.
	  	 Rent
	  	 	7	  
	 7.
	  	 Net Lease; Non-Terminability
	  	 	7	  
	 8.
	  	 Payment of Impositions; Compliance with Legal Requirements and Insurance Requirements
	  	 	8	  
	 9.
	  	 Liens; Recording and Title
	  	 	9	  
	 10.
	  	 Indemnification
	  	 	10	  
	 11.
	  	 Maintenance and Repair
	  	 	10	  
	 12.
	  	 Alterations
	  	 	12	  
	 13.
	  	 Condemnation
	  	 	13	  
	 14.
	  	 Insurance
	  	 	16	  
	 15.
	  	 Restoration
	  	 	21	  
	 16.
	  	 Subordination to Financing
	  	 	22	  
	 17.
	  	 Assignment, Subleasing
	  	 	23	  
	 18.
	  	 Permitted Contests
	  	 	24	  
	 19.
	  	 Conditional Limitations; Default Provisions
	  	 	25	  
	 20.
	  	 Additional Rights of Landlord and Tenant
	  	 	28	  
	 21.
	  	 Notices
	  	 	29	  
	 22.
	  	 Estoppel Certificates
	  	 	29	  
	 23.
	  	 Surrender and Holding Over
	  	 	30	  
	 24.
	  	 No Merger of Title
	  	 	30	  
	 25.
	  	 Definition of Landlord
	  	 	31	  
	 26.
	  	 Hazardous Substances
	  	 	31	  
	 27.
	  	 Entry by Landlord
	  	 	32	  
	 28.
	  	 Statements
	  	 	32	  
	 29.
	  	 No Usury
	  	 	32	  
	 30.
	  	 Separability
	  	 	32	  
	 31.
	  	 Miscellaneous
	  	 	33	  
	 32.
	  	 Additional Rent
	  	 	33	  
	 33.
	  	 Tenant’s Option to Purchase
	  	 	33	  
	 34.
	  	 Brokerage Fees
	  	 	35	  

  
 -i-

 THIS LEASE AGREEMENT made as of the 8th day of February, 2006, by
and between the parties shown on Exhibit E attached hereto, each having its principal mailing address at c/o Griffin Capital Corporation, as agent, having an office at 2321 Rosecrans, Suite 3290, El Segundo, California 90245 (“Landlord”),
and Invitrogen Corporation, a Delaware corporation, having its principal office at 1600 Faraday Avenue, Carlsbad, California 92008 (“Tenant”). 
 In consideration of the rents and provisions herein stipulated to be paid and performed, Landlord and Tenant, intending to be legally bound, hereby covenant and agree as follows: 

1.        Demise of Premises. Landlord hereby demises and leases to
Tenant and Tenant hereby takes and leases from Landlord for the term and upon the provisions hereinafter specified the following described property (“Leased Premises”) commonly known as 5781 Van Allen Way, Carlsbad, California:
(i) the lot or parcel of land described in Exhibit A attached hereto and made a part hereof, together with the easements, rights and appurtenances thereunto belonging or appertaining (“Land”); (ii) the buildings, structures and
other improvements on the Land (collectively, the “Improvements”); and (iii) the machinery and equipment which is attached to the Improvements in such a manner as to become fixtures under applicable law, together with all additions
and accessions thereto, substitutions therefor and replacements thereof permitted by this Lease (collectively, “Equipment”), excepting therefrom the Trade Fixtures, as defined below. 

2.        Certain Definitions. 

“Additional Rent” shall mean Additional Rent as defined in Paragraph 32. 

“Additions to Purchase Price” has the meaning set forth in Paragraph 13(b)(i)(B). 

“Adjoining Property” shall mean all sidewalks, curbs, gores and vault spaces adjoining the Leased
Premises. 
 “Alteration” or “Alterations” shall mean any or all changes,
additions (whether or not adjacent to or abutting any then existing buildings), expansions (whether or not adjacent to or abutting any then existing buildings), improvements, reconstructions, removals or replacements of any of the Improvements or
Equipment, both interior or exterior, and ordinary and extraordinary. 
 “Basic Rent” shall
mean Basic Rent as defined in Paragraph 6. 
 “Basic Rent Payment Dates” shall mean the Basic
Rent Payment Dates as defined in Paragraph 6. 
 “Commencement Date” shall mean the
Commencement Date as defined in Paragraph 5. 
 “Condemnation” shall mean a Taking and/or a
Requisition. 
 “Default Rate” shall mean the Default Rate as defined in Paragraph 19(b)(iv).

 “Equipment” shall mean the Equipment as defined in Paragraph 1. 

 “Event of Default” shall mean an Event of Default as
defined in Paragraph 19(a). 
 “Full Replacement Cost” has the meaning set forth in
Paragraph14(a). 
 “Impositions” shall mean the Impositions as defined in Paragraph 8.

 “Improvements” shall mean the Improvements as defined in Paragraph 1. 

“Insurance Requirement” or “Insurance Requirements” shall mean, as the case may be,
any one or more of the terms of each insurance policy required to be carried by Tenant under this Lease and the requirements of the issuer of such policy, and whenever Tenant shall be engaged in making any Alteration or Alterations, repairs or
construction work of any kind (collectively, “Work”), the term Insurance Requirement or Insurance Requirements shall be deemed to include a requirement that Tenant obtain or cause its contractor to obtain completed value builder’s
risk insurance when the estimated cost of the Work in any one instance exceeds the sum of Two Hundred Thousand ($200,000.00) Dollars and that Tenant or its contractor shall obtain worker’s compensation insurance or other adequate insurance
coverage covering all persons employed in connection with the Work, whether by Tenant, its contractors or subcontractors and with respect to whom death or bodily injury claims could be asserted against Landlord. 

“Insurance Premiums” has the meaning set forth in Paragraph14(b). 

“Land” shall mean the Land as defined in Paragraph 1. 

“Law” shall mean any constitution, statute or rule of law. 

“Leased Premises” shall mean the Leased Premises as defined in Paragraph 1. 

“Legal Requirement” or “Legal Requirements” shall mean, as the case may be, any one or
more of all present and future Laws, codes, ordinances, orders, judgments, decrees, injunctions, rules, regulations and requirements, even if unforeseen or extraordinary, of every duly constituted governmental authority or agency (but excluding
those which by their terms are not applicable to and do not impose any obligation on Tenant, Landlord or the Leased Premises) and all covenants, restrictions and conditions now of record, or of record in the future if created or filed by or
with the consent of Tenant, which may be applicable to Tenant, Landlord (with respect to the Leased Premises) or to all or any part of or interest in Leased Premises, or to the use, manner of use, occupancy, possession, operation,
maintenance, alteration, repair or reconstruction of the Leased Premises, even if compliance therewith (i) necessitates structural changes or improvements (including changes required to comply with the Americans with Disabilities Act) or
results in interference with the use or enjoyment of the Leased Premises or (ii) requires Tenant to carry insurance other than as required by the provisions of this Lease. 

“Lender” shall mean an entity identified as such in writing to Tenant which makes a Loan to Landlord,
secured by a Mortgage and evidenced by a Note or which is the holder of the Mortgage and Note as a result of an assignment thereof. Initially, the Lender is JPMorgan Chase Bank, N.A., a banking association chartered under the law of the United
States of America, together with its successors and assigns. 
 “Loan” shall mean a loan made
by a Lender to Landlord secured by a Mortgage and evidenced by a Note. 

  
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 “Loan Documents” means all documents which evidence and
secure the Loan, 
 “Mortgage” shall mean a first priority mortgage, deed of trust or similar
security instrument as the same may be amended or supplemented from time to time hereafter executed covering the Leased Premises from Landlord to Lender. 
 “Net Award” shall mean the entire award payable to Landlord by reason of a Condemnation, less any reasonable expenses incurred by Landlord in collecting such award. 

“Net Proceeds” shall mean the entire proceeds of any insurance required under clauses (i), (iv),
(v) or (vi) of Paragraph 14 (a), less any actual and reasonable expenses incurred by Landlord in collecting such proceeds. 
 “Note” or “Notes” shall mean a Promissory Note or Notes hereafter executed from Landlord to Lender, which Note or Notes will be secured by a Mortgage and an assignment of
leases and rents. 
 “Permitted Encumbrances” shall mean those covenants, restrictions,
reservations, liens, conditions, encroachments, easements and other matters of title that affect the Leased Premises as of the date of Landlord’s acquisition thereof, excepting, however, any such matters arising from the acts of Landlord (such
as liens arising as a result of judgments against Landlord). 
 “Policy” and
“Policies” have the meaning set forth in Paragraph 14(b). 
 “Qualified Insurer”
has the meaning set forth in Paragraph14(b). 
 “REA” has the meaning set forth in
Paragraph3(f). 
 “Replaced Equipment” or “Replacement Equipment” shall mean
the Replaced Equipment and Replacement Equipment, respectively, as defined in Paragraph 11(d). 

“Requisition” shall mean any temporary condemnation or confiscation of the use or occupancy of the
Leased Premises by any governmental authority, civil or military, whether pursuant to an agreement with such governmental authority in settlement of or under threat of any such requisition or confiscation, or otherwise. 

“Restoration” shall mean the Restoration as defined in Paragraph 13(c)(i). 

“State” shall mean the State of California. 

“Taking” shall mean any taking of the Leased Premises in or by condemnation or other eminent domain
proceedings pursuant to any law, general or special, or by reason of any agreement with any condemnor in settlement of or under threat of any such condemnation or other eminent domain proceedings or by any other means, or any de facto
condemnation. 
 “Term” shall mean the Term as defined in Paragraph 5. 

“Termination Date” shall mean the Termination Date as defined in Paragraph 13(b)(i)(A). 

  
 -3-

 “Trade Fixtures” shall mean all fixtures, equipment and
other items of personal property (whether or not attached to the Improvements) which are owned by Tenant and used in the operation of the business conducted on the Leased Premises. 

3.        Title and Condition. 

(a)      The Leased Premises are demised and leased subject to (i) the Permitted
Encumbrances, (ii) all Legal Requirements and Insurance Requirements, including any existing violation of any thereof, and (iii) the condition of the Leased Premises as of the commencement of the Term; without representation or warranty by
Landlord; it being understood and agreed, however, that the recital of the Permitted Encumbrances herein shall not be construed as a revival of any thereof which for any reason may have expired. 

(b)      LANDLORD LEASES AND WILL LEASE AND TENANT TAKES AND WILL TAKE THE LEASED PREMISES
AS IS, AND TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT
TO ANY OF THE LEASED PREMISES, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO ITS FITNESS FOR USE OR PURPOSE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, AS TO
LANDLORD’S TITLE THERETO, OR AS TO VALUE, COMPLIANCE WITH SPECIFICATIONS, LOCATION, USE, CONDITION, MERCHANTABILITY, QUALITY, DESCRIPTION, DURABILITY OR OPERATION, IT BEING AGREED THAT ALL RISKS INCIDENT THERETO ARE TO BE BORNE BY TENANT.
Tenant acknowledges that the Leased Premises are of its selection and to its specifications, and that the Leased Premises have been inspected by Tenant and are satisfactory to it. In the event of any defect or deficiency in any of the Leased
Premises of any nature, whether patent or latent, Landlord shall not have any responsibility or liability with respect thereto or for any incidental or consequential damages (including strict liability in tort). The provisions of this Paragraph 3
(b) have been negotiated, and the foregoing provisions are intended to be a complete exclusion and negation of any warranties by Landlord, express or implied, with respect to any of the Leased Premises, arising pursuant to the uniform
commercial code or any other Law now or hereafter in effect or otherwise. 

(c)      Tenant acknowledges and agrees that Tenant has examined the title to the Leased
Premises prior to the execution and delivery of this Lease and has found such title to be satisfactory for the purposes contemplated by this Lease. 
 (d)      Landlord hereby assigns, without recourse or warranty whatsoever, to Tenant, all warranties, guaranties and indemnities, express or implied, and similar rights which
Landlord may have against any manufacturer, seller, engineer, contractor or builder in respect of any of the Leased Premises, including, but not limited to, any rights and remedies existing under contract or pursuant to the uniform commercial code
(collectively, the “guaranties”), but expressly reserving unto Landlord the right to jointly (with Tenant) or separately enforce any warranties or similar rights relating to building shell design and construction. Such assignment shall
remain in effect until the termination of this Lease. Landlord shall also retain the right to enforce any guaranties assigned in the name of Tenant upon the occurrence of an Event of Default. Landlord hereby agrees to execute and deliver at
Tenant’s expense such further 

  
 -4-

 
documents, including powers of attorney, as Tenant may reasonably request in order that Tenant may have the full benefit of the assignment effected or intended to be effected by this Paragraph 3
(d). Upon the termination of this Lease, the guaranties shall automatically revert to Landlord. The foregoing provision of reversion shall be self-operative and no further instrument of reassignment shall be required. In confirmation of such
reassignment Tenant shall execute and deliver promptly any certificate or other instrument which Landlord may request. Any monies collected by Tenant under any of the guaranties after the occurrence of and during the continuation of an Event of
Default shall be held in trust by Tenant and promptly paid over to Landlord. 

(e)      Landlord acknowledges and understands that the Leased Premises covers one of
multiple adjacent parcels either leased or owned by Tenant and that Tenant contemplates establishing a campus environment of which the Leased Premises will be a primary component. Landlord agrees to enter into, at Tenant’s expense (insofar as
any required documentation), such easements, covenants, waivers, approvals or restrictions for utilities, parking or other matters as desirable for operation of the Leased Premises or properties adjacent thereto (collectively, “Easements”)
as reasonably requested by Tenant, subject to Lender’s and Landlord’s approval of the form thereof, not to be unreasonably withheld or delayed; provided, however, that no such Easement shall result in any material diminution in the value
or utility of the Leased Premises for use as a mixed use office (including research and development), and industrial facility and further provided that no such Easement shall render the use of the Leased Premises dependent upon any other property or
condition the use of the Leased Premises upon the use of any other property, each of which Tenant shall certify to Landlord and Lender in writing delivered with Tenant’s request with respect to such Easement. Tenant’s request shall also
include Tenant’s written undertaking acknowledging that Tenant shall remain liable hereunder as principal and not merely as a surety or guarantor notwithstanding the establishment of any Easement. If either Landlord or Lender shall fail to
approve or disapprove the form of any such Easements, within a period of twenty (20) days from their respective receipt of same, then either Landlord or Lender, as the case may be, shall be deemed to have approved the form of any such Easement.

 (f)      Tenant agrees that Tenant is obligated to and shall perform all
obligations of the owner of the Leased Premises under and pay all expenses which the owner of the Leased Premises may be required to pay in accordance with any declaration, reciprocal easement agreement or any other agreement or document of record
now, or of record in the future if created or filed by or with the consent of Tenant (Tenant hereby agreeing that all Permitted Encumbrances shall be deemed to have been filed with the consent of Tenant), affecting the Leased Premises, herein
referred to collectively as the REA, and that Tenant shall comply with all of the terms and conditions of the REA during the Term of this Lease. Tenant further covenants and agrees to indemnify, defend and hold harmless Landlord and Lender against
any claim, loss or damage suffered by Landlord or Lender by reason of Tenant’s failure to perform any obligations or pay any expenses as required under this Lease or under any REA or comply with the terms and conditions of any REA as herein
above provided during the Term of this Lease. 
 4.        Use of
Leased Premises; Quiet Enjoyment. 
 (a)      Tenant may use the Leased
Premises as a mixed use office (including research and development) and industrial facility (including manufacturing, assembly, distribution, warehouse and related uses for biomedical light assembly, research and development and software
development) or for any other lawful purpose so long as such other lawful purpose would not (i) materially increase (when compared to its use of the date hereof) the likelihood that Tenant, Landlord or Lender would incur liability under any
provisions of the 

  
 -5-

 
Act referred to in Paragraph 26 of this Lease, or (ii) result in or give rise to any material environmental deterioration or degradation of the Leased Premises. In no event shall the Leased
Premises be used for any purpose which shall violate any of the provisions of any Permitted Encumbrance or any covenants, restrictions or agreements hereafter created by or consented to by Tenant applicable to the Leased Premises. Tenant agrees that
with respect to the Permitted Encumbrances and any covenants, restrictions or agreements hereafter created by or consented to by Tenant, Tenant shall observe, perform and comply with and carry out the provisions thereof required therein to be
observed and performed by Landlord. 
 (b)      Subject to Tenant’s rights
under Paragraph l8 hereof, Tenant shall not permit any unlawful occupation, business or trade to be conducted on the Leased Premises or any use to be made thereof contrary to applicable Legal Requirements or Insurance Requirements. Subject to
Tenant’s rights under Paragraph 18, Tenant shall not use, occupy or permit any of the Leased Premises to be used or occupied, nor do or permit anything to be done in or on any of the Leased Premises, in a manner which would (i) make void
or voidable any insurance which Tenant is required hereunder to maintain then in force with respect to any of the Leased Premises, (ii) affect the ability of Tenant to obtain any insurance which Tenant is required to furnish hereunder, or
(iii) cause any injury or damage to any of the Improvements unless pursuant to Alterations permitted under Paragraph 12 hereof. 
 (c)      Subject to all of the provisions of this Lease, so long as no Event of Default exists hereunder, Landlord covenants to do no act to disturb the peaceful and quiet
occupation and enjoyment of the Leased Premises by Tenant. 

5.        Term. 

(a)      Subject to the provisions hereof Tenant shall have and hold the Leased Premises
for an initial term (“Initial Term”) commencing on February 10, 2006 (the “Commencement Date”) and ending on May 31, 2022 (the “Expiration Date”) (such initial term, together with any “Extension
Term”, hereinafter defined, which comes into effect as hereinafter provided, is herein called the Term). 

(b)      So long as Invitrogen Corporation or a successor corporation, subsidiary or
affiliate is the Tenant hereunder and occupies the entirety of the Leased Premises, and subject to the condition set forth in clause (ii) below, Tenant shall have two options to extend the Term of this Lease with respect to the entirety of the
Leased Premises (each an “Extension Term”), the first for a period of eight (8) years from the expiration of the initial Lease Term (the “First Extension Term”), and the second (the “Second Extension Term”) for a
period of eight (8) years from the expiration of the First Extension Term, subject to the following conditions: 
 (i)      Each Extension Term shall be exercised, if at all, by notice of exercise given to Landlord by Tenant not later then (a) May 1, 2021, as to the First
Extension Term, or (b) May 1, 2029, as to the Second Extension Term as applicable; 

(ii)     Anything herein to the contrary notwithstanding, if there is an existing, uncured
material Event of Default, either at the time Tenant exercises either extension option or on the commencement date of the First Extension Term or the Second Extension Term, as applicable, Landlord shall have, in addition to all of Landlord’s
other rights and remedies provided in this Lease, the right to terminate such option(s) to extend upon notice to Tenant; 

  
 -6-

 (iii)     In the event the applicable extension
option is exercised in a timely fashion, this Lease shall be extended for the term of the applicable Extension Term upon all of the terms and conditions of this Lease, provided that the annual Basic Rent for the Leased Premises for each Extension
Term shall be at the Rate set forth in Exhibit B hereof; and 
 (iv)     Tenant’s
exercise of the Purchase Option under Paragraph33(a) shall be deemed a waiver of the options to extend the Term set forth herein. 
 6.        Rent. 

(a)      Tenant shall pay to Landlord (or to Lender, if directed by Landlord) in advance,
as minimum annual rent for the Leased Premises during the Term, the amounts set forth in Exhibit B attached hereto (“Basic Rent”), commencing on and continuing on the first day of each month thereafter during the Term (the said days being
the “Basic Rent Payment Dates”), and shall pay the same at Landlord’s address set forth below, or at such other place as Landlord from time to time may designate to Tenant in writing, in funds which at the time of such payment shall
be legal tender for the payment of public or private debts in the United States of America and if required by Lender by wire transfer in immediately available federal funds to such account in such bank as Lender shall designate, from time to time.
If the Commencement Date does not occur on the first day of a calendar month, Basic Rent for the period from and including the Commencement Date through and including the last day of the calendar month in which the Commencement Date occurs shall be
paid on the Commencement Date in the amount equal to one thirtieth (1/30) of the monthly Basic Rent for the initial term set forth on Exhibit B attached hereto for each day from and including the Commencement Date through and including
February 28, 2006. 
 (b)      Tenant shall pay and discharge before the
imposition of any fine, lien, interest or penalty may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every
fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have all rights,
powers and remedies provided herein, by Law or otherwise, in the event of nonpayment of Basic Rent. 

(c)      If any installment of Basic Rent is not paid within five (5) days after
written notice is given by Landlord or Lender (or Lender’s servicer or other designee of Lender) to Tenant that the same is overdue, Tenant shall pay to Landlord or Lender, as the case may be, on demand, as Additional Rent, a late charge equal
to two percent (2%) (the “Late Charge”) on such overdue installment of Basic Rent. In addition, Tenant shall be responsible for the payment of any default rate interest imposed by Lender in connection with the non-performance of
Tenant of any of the terms, covenants and conditions of this Lease. 

(d)      Landlord and Tenant agree that this Lease is a true lease and does not represent
a financing arrangement. Each party shall reflect the transactions represented by this Lease in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with true lease treatment rather
than financing treatment. 
 7.        Net Lease;
Non-Terminability. 
 (a)      This is a net Lease and Basic Rent, Additional
Rent and all other sums payable hereunder by Tenant shall be paid, except as otherwise expressly set forth in this Lease, 

  
 -7-

 
without notice, demand, setoff, counterclaim, recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense. 

(b)      Except as otherwise expressly provided in this Lease, this Lease shall not
terminate and Tenant shall not have any right to terminate this Lease, during the Term. Except as otherwise expressly provided in this Lease, Tenant shall not be entitled to any setoff, counterclaim, recoupment, abatement, suspension, deferment,
diminution, deduction, reduction or defense of or to Basic Rent, Additional Rent or any other sums payable under this Lease; and except as otherwise expressly provided in this Lease, the obligations of Tenant under this Lease shall not be affected
by any interference with Tenant’s use of any of the Leased Premises for any reason, including but not limited to the following: (i) any damage to or destruction of any of the Leased Premises by any cause whatsoever, (ii) any
Condemnation, (iii) the prohibition, limitation or restriction of Tenant’s use of any of the Leased Premises, (iv) any eviction by paramount title or otherwise, (v) Tenant’s acquisition of ownership of any of the Leased
Premises other than pursuant to an express provision of this Lease, (vi) any default on the part of Landlord under this Lease or under any other agreement, (vii) any latent or other defect in, or any theft or loss of any of the Leased
Premises, (viii) the breach of any warranty of any seller or manufacturer of any of the Equipment, or (ix) any other cause similar to the foregoing, any present or future Law to the contrary notwithstanding. It is the intention of the
parties hereto that the obligations of Tenant under this Lease shall be separate and independent covenants and agreements, and that Basic Rent, Additional Rent and all other sums payable by Tenant hereunder shall continue to be payable in all events
(or, in lieu thereof, Tenant shall pay amounts equal thereto), and that the obligations of Tenant under this Lease shall continue unaffected, unless this Lease shall have been terminated pursuant to an express provision of this Lease. 

(c)      Tenant agrees that it shall remain obligated under this Lease in accordance with
its provisions and that, except as otherwise expressly provided herein, it shall not take any action to terminate, rescind or avoid this Lease, notwithstanding (i) the bankruptcy, insolvency, reorganization, composition, readjustment,
liquidation, dissolution, winding-up or other proceeding affecting Landlord, (ii) the exercise of any remedy, including foreclosure, under the Mortgage, or (iii) any action with respect to this Lease (including the disaffirmance hereof)
which may be taken by Landlord under the Federal Bankruptcy Code or by any trustee, receiver or liquidator of Landlord or by any court under the Federal Bankruptcy Code or otherwise. 

(d)      This Lease is the absolute and unconditional obligation of Tenant. Tenant waives
all rights which are not expressly stated in this Lease but which may now or hereafter otherwise be conferred by Law (i) to quit, terminate or surrender this Lease or any of the Leased Premises, (ii) to any setoff, counterclaim,
recoupment, abatement, suspension, deferment, diminution, deduction, reduction or defense of or to Basic Rent, Additional Rent or any other sums payable under this Lease, except as otherwise expressly provided in this Lease, and (iii) for any
statutory lien or offset right against Landlord or its property. 

8.        Payment of Impositions; Compliance with Legal Requirements and
Insurance Requirements. 

(a)      (i)      Subject to the provisions of Paragraph 18
hereof relating to contests, Tenant shall, before interest or penalties are due thereon, pay and discharge (all of the following being herein collectively called the Impositions): all taxes of every kind and nature (including real, ad
valorem, personal property, gross income, franchise, withholding, profits and gross receipts taxes) on or with respect to the Leased Premises; all charges and/or taxes for any easement or agreement maintained for the benefit of the Leased
Premises; all general and special 

  
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assessments, levies, permits, inspection and license fees on or with respect to the Leased Premises; all water and sewer rents and other utility charges on or with respect to the Leased Premises;
all ground rents on or with respect to the Leased Premises; and all other public charges and/or taxes whether of a like or different nature, even if unforeseen or extraordinary, imposed or assessed upon or with respect to the Leased Premises, prior
to or during the Term, against Landlord, Tenant or any of the Leased Premises as a result of or arising in respect of the occupancy, leasing, use, maintenance, operation, management, repair or possession thereof, or any activity conducted on the
Leased Premises, or the Basic Rent or Additional Rent, including without limitation, any gross income tax, sales tax, occupancy tax or excise tax levied by any governmental body on or with respect to such Basic Rent or Additional Rent. If received
by Landlord, Landlord shall promptly deliver to Tenant any bill or invoice with respect to any Imposition. Tenant will promptly provide proof of payment of Impositions to Landlord. 

(ii)      Nothing herein shall obligate Tenant to pay, and the term Impositions shall
exclude, federal, state or local (A) transfer taxes as the result of a conveyance by (or suffered by) Landlord, (B) franchise, capital stock or similar taxes if any, of Landlord, (C) income, excess profits or other taxes, if any, of
Landlord, determined on the basis of or measured by its net income, or (D) any estate, inheritance, succession, gift, capital levy or similar taxes, unless the taxes referred to in clauses (B) and (C) above are in lieu of or a
substitute for any other tax or assessment upon or with respect to any of the Leased Premises which, if such other tax or assessment were in effect at the commencement of the Term, would be payable by Tenant. In the event that any assessment against
any of the Leased Premises may be paid in installments, Tenant shall have the option to pay such assessment in installments; and in such event, Tenant shall be liable only for those installments which become due and payable during the Term. Tenant
shall prepare and file all tax reports required by governmental authorities which relate to the Impositions. Tenant shall deliver to Landlord and to Lender, within twenty (20) days after Landlord’s written request therefor, copies of all
settlements and notices pertaining to the Impositions which may be issued by any governmental authority and receipts for payments of all Impositions made during each calendar year of the Term, within thirty (30) days after payment. 

(iii)     Tenant acknowledges that Impositions include (i) all assessments and taxes
imposed or added to as a result of a “change in ownership” of the Leased Premises or any portion thereof, as defined by applicable statutes and regulations, and (ii) any fee, levy, charge or cost sharing agreement to cover such
services as fire protection, street, sidewalk and road maintenance, refuse removal and for other governmental services formerly funded by property tax proceeds, it being acknowledged by Tenant and Landlord that since Proposition 13 was adopted by
the voters of the State of California in the June 1978 election, local governmental authorities frequently charge for such services separate from property taxes. 

(b)     Subject to the provisions of Paragraph 18 hereof, Tenant shall promptly comply with and
conform to all of the Legal Requirements and Insurance Requirements. 
 (c)     If, as
a result of the Tenant’s nonpayment or late payment of any Impositions or Insurance required hereunder, Landlord’s Lender imposes a monthly escrow deposit for the aforesaid items, Tenant agrees to make such deposit directly to Lender.

 9.      Liens; Recording and Title. 

(a)     Subject to the provisions of Paragraph 18 hereof, Tenant shall not, directly or
indirectly, create or permit to be created or to remain, and shall promptly discharge, any lien on the Leased Premises, on the Basic Rent, Additional Rent or on any other sums payable by 

  
 -9-

 
Tenant under this Lease, other than the Mortgage, the Permitted Encumbrances and any mortgage, lien, encumbrance or other charge created by or resulting from any act or omission by Landlord or
those claiming by, through or under Landlord (except Tenant). Notice is hereby given that Landlord shall not be liable for any labor, services or materials furnished or to be furnished to Tenant, or to anyone holding any of the Leased Premises
through or under Tenant, and that no mechanic’s or other liens for any such labor, services or materials shall attach to or affect the interest of Landlord in and to any of the Leased Premises. 

(b)      Each of Landlord and Tenant shall execute, acknowledge and deliver to the other a
written Memorandum of this Lease to be recorded in the appropriate land records of the jurisdiction in which the Leased Premises is located, in order to give public notice and protect the validity of this Lease. In the event of any discrepancy
between the provisions of said recorded Memorandum of this Lease and the provisions of this Lease, the provisions of this Lease shall prevail. 
 (c)      Nothing in this Lease and no action or inaction by Landlord shall be deemed or construed to mean that Landlord has granted to Tenant any right, power or permission
to do any act or to make any agreement which may create, give rise to, or be the foundation for, any right, title, interest or lien in or upon the estate of Landlord in any of the Leased Premises. 

10.      Indemnification. 

(a)      Tenant agrees to defend, pay, protect, indemnify, save and hold harmless Landlord
and Lender, and their officers, directors, shareholders, partners, beneficial owners, trustees, members, managers and employees, from and against any and all liabilities, losses, damages, penalties, costs, expenses (including reasonable
attorneys’ fees and expenses), causes of action, suits, claims, demands or judgments of any nature whatsoever, howsoever caused, arising from the Leased Premises or the use, non-use, occupancy, condition, design, construction (excluding from
the obligation to indemnify for design and construction, the shell building design and construction, except to the extent Tenant’s additions, alterations or improvements alter or affect such initial design and construction), maintenance, repair
or rebuilding of the Leased Premises, and any injury to or death of any person or persons or any loss of or damage to any property, real or personal, in any manner arising therefrom connected therewith or occurring thereon, whether or not such
indemnified party has or should have knowledge or notice of the defect or conditions, if any, causing or contributing to said injury, death, loss, damage or other claim; except to the extent that any such liability, loss, damage, penalty, cost,
expense, cause of action, suit, claim, demand or judgment is the result of the gross negligence of such indemnified party or the intentional wrongful act of such indemnified party. In case any action or proceeding is brought against any indemnified
party by reason of any such claim against which Tenant has agreed to defend, pay, protect, indemnify, save and hold harmless pursuant to the preceding sentence, Tenant covenants upon notice from such indemnified party to resist or defend such
indemnified party in such action, with the expenses of such defense paid by Tenant, and such indemnified party will cooperate and assist in the defense of such action or proceeding if reasonably requested so to do by Tenant. 

(b)      The obligations of Tenant under this Paragraph 10 shall survive any termination
of this Lease. 
 11.      Maintenance and Repair. 

  
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 (a)      Except for any Alterations that
Tenant is permitted to make pursuant to this Lease, Tenant shall at all times, including any Requisition period, put, keep and maintain the Leased Premises (including, without limitation, the roof, landscaping, walls, footings, foundations and
structural components of the Leased Premises) and the Equipment in the same condition and order of repair as exists as of the date of this Lease or, if the building and related improvements on the Leased Premises are not substantially complete as of
the date of this Lease, then in the same condition and order of repair as exists as of substantial completion, except for ordinary wear and tear, and shall promptly make all repairs and replacements of every kind and nature, whether foreseen or
unforeseen, which may be required to be made upon or in connection with the Leased Premises in order to keep and maintain the Leased Premises in the order and condition required by this Paragraph 11(a). Tenant shall do or cause others to do all
shoring of the Leased Premises or of foundations and walls of the Improvements and every other act necessary or appropriate for preservation and safety thereof, by reason of or in connection with any excavation or other building operation upon any
of the Leased Premises, whether or not Landlord shall, by reason of any Legal Requirements or Insurance Requirements, be required to take such action or be liable for failure to do so. Landlord shall not be required to make any repair, whether
foreseen or unforeseen, or to maintain any of the Leased Premises or Adjoining Property in any way, and Tenant hereby expressly waives the right to make repairs at the expense of the Landlord, which right may be provided for in any Law now or
hereafter in effect. Nothing in the preceding sentence shall be deemed to preclude Tenant from being entitled to insurance proceeds or condemnation awards for Restoration pursuant to Paragraphs 13 (c) and 14 (g) of this Lease. Tenant
shall, in all events, make all repairs for which it is responsible hereunder promptly, and all repairs shall be in a good, proper and workmanlike manner. 
 (b)      If any Improvement shall violate any Legal Requirements or Insurance Requirements and as a result of such violation enforcement action is threatened or commenced
against Tenant or with respect to the Leased Premises, then Tenant, at the request of Landlord, shall either (i) obtain valid and effective waivers or settlements of all claims, liabilities and damages resulting from each such violation,
whether the same shall affect Landlord, Tenant or both, or (ii) take such action as shall be necessary to remove such violation, including, if necessary, any Alteration. Any such repair or Alteration shall be made in conformity with the
provisions of Paragraph 12. 
 (c)      If Tenant shall be in default under any
of the provisions of this Paragraph 11 or Paragraph 26, Landlord may after thirty (30) business days written notice given to Tenant and failure of Tenant to cure during said period, but without notice in the event of an emergency, do whatever
is necessary to cure such default as may be appropriate under the circumstances for the account of and at the expense of Tenant. In the event of an emergency Landlord shall notify Tenant of the situation by phone or other available communication.
All reasonable sums so paid by Landlord and all reasonable costs and expenses (including, without limitation, attorneys’ fees and expenses) so incurred, together with interest thereon at the Default Rate from the date of payment or incurring
the expense, shall constitute Additional Rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord on demand. 
 (d)      Tenant shall from time to time replace with other operational equipment or parts (the “Replacement Equipment”) any of the Equipment (the “Replaced
Equipment”) which shall have become worn out or unusable for the purpose for which it is intended, been taken by a Condemnation as provided in Paragraph 13, or been lost, stolen, damaged or destroyed as provided in Paragraph 14. Tenant shall
repair at its sole cost and expense all damage to the Leased Premises caused by the removal of Equipment or Replaced Equipment or other personal property of Tenant or the installation of Replacement Equipment. All Replacement Equipment

  
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shall become the property of Landlord, shall be free and clear of all liens and rights of others and shall become a part of the Equipment as if originally demised herein. 

12.      Alterations. 

(a)      Tenant shall not make any Alterations which would (after the completion thereof)
impair the structural integrity of the Leased Premises or the Improvements on the Leased Premises without in each case obtaining the prior written consent of each of Lender and Landlord. The parties hereto agree that Tenant intends to build out its
space in the Leased Premises to fit its unique business use and that such build out may not be easily made useful by potential replacements tenants. Such build out, however, shall not be deemed to impair the fair market value of the Improvements
provided each of Landlord and Lender approve the plans and specifications and the build out is completed in accordance with Tenant’s legitimate business plan. With respect to the construction of new improvements on the Leased Premises, all
alterations shall be made in accordance with all applicable building and zoning codes and in accordance with the terms and conditions of the Loan Documents. If either Landlord or Lender fails to approve or disapprove any such Alterations within a
period of twenty (20) days from the date Tenant requests such consent and submits reasonably detailed construction plans and specifications for such Alterations, together with any applicable Lender required review fees, then Landlord or Lender,
as the case may be, shall be deemed to have approved such Alterations. Tenant may make any other Alterations without the prior written consent of the Landlord or Lender provided such Alterations comply with all of the provisions of the following
Paragraph. Two (2) copies of all plans and specifications for all Alterations shall be tendered to Landlord at completion of such Alterations (one for Landlord’s files and one for Landlord’s delivery to Lender). 

(b)      If Landlord and Lender give their prior written consent to any Alterations, or if
such consent is not required, Tenant agrees that in connection with any Alteration: (i) the fair market value of the Leased Premises shall not be lessened, other than in an immaterial respect, after the completion of any such Alteration, or its
structural integrity impaired; (ii) the Alteration and any Alteration theretofore made or thereafter to be made shall not in the aggregate reduce the gross floor area of the Improvements by more than ten percent (10%); (iii) all such
Alterations shall be performed in a good and workmanlike manner, and shall be expeditiously completed in compliance with all Legal Requirements; (iv) all work done in connection with any such Alteration shall comply with all Insurance
Requirements; (v) Tenant shall promptly pay all costs and expenses of any such Alteration, and shall (subject to the provisions of Paragraph 18 hereof) discharge all liens filed against any of the Leased Premises arising out of the same;
(vi) Tenant shall procure and pay for all permits and licenses required in connection with any such Alteration; (vii) all such Alterations shall be the property of Landlord and shall be subject to this Lease; and (viii) all
Alterations shall be made in the case of any Alteration the estimated cost of which in any one instance exceeds Five Hundred Thousand Dollars ($500,000) under the supervision of an architect or engineer and, in accordance with plans and
specifications which shall be submitted to Landlord and Lender (for informational purposes only) prior to the commencement of the Alterations. The threshold amount described in (viii) shall be adjusted on the tenth (10th) and, if applicable, the twentieth (20th) anniversary of the Commencement Date to reflect the percentage
increase, if any, in the 20-City Construction Cost Index (base index year is 1913=100) (“CCI”) published monthly by McGraw Hill Companies in the “Engineering News-Record.” The adjustment shall be made by multiplying the
threshold amount described in (viii) by a fraction, the numerator of which is the average CCI for the calendar year prior to the year in which the tenth (10th) anniversary (and, if a second adjustment is applicable, the twentieth
(20th) anniversary) of the Commencement Date occurs (i.e., 2015 and 2025 respectively), and the 

  
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denominator of which is the average CCI for the calendar year prior to the year in which the Commencement Date occurred (i.e., 2005). If the base index year of the CCI is changed or the
manner in which the CCI is determined shall otherwise be substantially revised, or if the CCI shall become unavailable to the public, Landlord and Tenant shall make an adjustment in any revised index, or use a comparable index, which will produce
results equivalent, as nearly as possible, to those which would have been obtained if the CCI described herein had been used. 
 (c)      Anything contained in this Paragraph12 to the contrary notwithstanding, Tenant shall not alter the Property in any manner which would increase Landlord’s
responsibility for compliance with Applicable Laws without the prior written approval of Landlord (which approval may be withheld by Landlord if Landlord has not obtained Lender’s approval). 

13.      Condemnation. 

(a)      Tenant, promptly after obtaining knowledge of the institution of any proceeding
for Condemnation, shall notify Landlord and Lender thereof and Landlord and Lender shall be entitled to participate in any Condemnation proceeding. Landlord, promptly after obtaining knowledge of the institution of any proceeding for Condemnation,
shall notify Tenant thereof and Tenant shall have the right to participate in such proceedings. Subject to the provisions of this Paragraph 13 and Paragraph 15, Tenant hereby irrevocably assigns to Lender or to Landlord, in that order, any award or
payment in respect of any Condemnation of Landlord’s interest in the Leased Premises, except that (except as hereinafter provided) nothing in this Lease shall be deemed to assign to Landlord or Lender any award relating to the value of the
leasehold interest created by this Lease or any award or payment on account of the Trade Fixtures, moving expenses and out-of-pocket expenses incidental to the move, if available, to the extent Tenant shall have a right to make a separate claim
therefor against the condemnor, it being agreed, however, that Tenant shall in no event be entitled to any payment that reduces the award to which Landlord is or would be entitled for the condemnation of Landlord’s interest in the Leased
Premises. Notwithstanding the foregoing, Tenant shall be entitled to any award or payment on account of Tenant’s leasehold interest under this Lease only in the event of a Condemnation described in Paragraph 13(b)(i)(A) and then only to the
extent that when such award, added to all other awards to which Tenant is entitled hereunder, is subtracted from the entire award in respect to all interests in the Leased Premises, the remainder exceeds the amount set forth on Exhibit C attached
hereto and made a part hereof. 

(b)     (i)      (A)      If
(I) the entire Leased Premises or (II) at least twenty-five percent (25%) of the applicable Land or the building constructed on the Land or any means of ingress, egress or access to the Leased Premises, the loss of which even after
Restoration would, in Tenant’s reasonable business judgment, be substantially and materially adverse to the business operations of Tenant at the Leased Premises, shall be subject of a Taking by a duly constituted authority or agency having
jurisdiction, then Tenant shall, not later than ninety (90) days after a Taking has occurred, serve notice (“Tenant’s Termination Notice”) upon Landlord of Tenant’s intention to terminate this Lease on any Basic Rent Payment
Date specified in such Tenant’s Termination Notice, which date (the “Termination Date”) shall be no sooner than the first Basic Rent Payment Date occurring at least thirty (30) days after the date of such Tenant’s
Termination Notice. 
 (B)      If during the period covered by the schedule of
purchase prices attached hereto as Exhibit “C,” Tenant shall serve a Tenant’s Termination Notice upon Landlord, then Tenant may, as part of such Tenant’s Termination Notice offer (which offer may

  
 -13-

 
be rejected by Landlord as set forth below) to purchase the Leased Premises and the award (or if no part of the Leased Premises shall remain, the entire award) for the applicable price (the
“Purchase Price”) computed in accordance with the schedule annexed hereto and marked Exhibit C plus all other amounts which may be due and owing to Lender or Landlord by reason of any default by Tenant in complying with its obligations
under this Lease and any yield maintenance or prepayment penalties, including defeasance (collectively, the “Additions to Purchase Price”). 
 (C)      If Landlord and Lender shall not elect to accept Tenant’s offer to purchase, Landlord shall give notice thereof to Tenant within thirty (30) days after the
giving of Tenant’s Termination Notice. 
 (D)      Should an offer to
purchase not be accepted by Landlord and Lender, this Lease shall be terminated as above provided and the entire award made in the Condemnation proceeding with respect to the Leased Premises shall be paid to Lender or to Landlord in that order.
Nothing contained herein shall be deemed to limit Tenant’s right to purchase the Leased Premises under the provisions of Paragraph33 hereof during the Initial Term of this Lease, and if Tenant purchased the Leased Premises pursuant to
Paragraph33, Tenant shall be entitled to the entire amount of the award. 

(E)      Landlord’s notice not to accept Tenant’s offer to purchase shall be
void and of no effect unless accompanied by the written notice of Lender to the effect that Lender also elects not to accept Tenant’s offer to purchase. Should said notices of Landlord and Lender rejecting Tenant’s offer to purchase not be
served within said period of thirty (30) days, then and in that event, the said offer shall be deemed accepted. 
 (ii)      If Landlord and Lender shall accept or be deemed to have accepted Tenant’s offer to purchase title shall close and Purchase Price and Additions to Purchase
Price shall be paid as hereinafter provided and in such event Tenant shall be entitled to and shall receive any and all awards with respect to the Leased Premises then or thereafter made in the Condemnation proceeding and Landlord shall assign (or
in case of any award previously made, deliver to Tenant on the Closing Date) such award as may be made with respect to the Leased Premises. In the event Landlord and Lender shall accept Tenant’s offer to purchase with respect to the Leased
Premises, or be deemed to have accepted such Tenant’s offer, title shall close thirty (30) days after the Termination Date hereinbefore defined (the “Closing Date”), at noon at the local office of Landlord’s counsel, or at
such other time and place as the parties hereto may agree upon, this Lease shall be automatically extended to and including the Closing Date (or, if applicable the extended Closing Date hereinafter described) and Tenant shall pay the Purchase Price
and Additions to Purchase Price (including such sums as may be necessary to defease the Loan) by transferring immediate funds to such account or accounts and in such bank or banks as Lender or Landlord, in that order, shall designate, upon delivery
of a grant deed conveying Leased Premises and all other required documents including an assignment of any award in connection with the taking of Leased Premises. The grant deed shall convey title, free from encumbrances other than (A) Permitted
Encumbrances, (B) liens or encumbrances created, suffered or consented to in writing by Tenant or arising by reason of the failure of Tenant to observe or perform any of the terms, covenants or agreements herein provided to be observed and
performed by Tenant, (C) any installments of Impositions then affecting the Leased Premises, and (D) this Lease. The Purchase Price and Additions to Purchase Price payable as herein above provided shall be charged or credited, as the case
may be, on the Closing Date, to reflect adjustments of Basic Rent paid or payable to and including the Closing Date, apportioned as of the 

  
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Closing Date. Tenant shall pay all conveyance, transfer, sales and like taxes required in connection with the purchase, regardless of who is required to pay such taxes under State or local Law or
custom (and Tenant shall also pay to Landlord any amount necessary to yield to Landlord the entire Purchase Price and Additions to Purchase Price if as a matter of the Law of the State or locality such tax cannot be paid directly by Tenant). If
there be any liens or encumbrances against the Leased Premises which Landlord is obligated to remove, upon request made a reasonable time before the Closing Date, Landlord shall provide at the Closing separate funds for the foregoing, payable to the
holder of such lien or encumbrances. 
 (iii)     If during any
Extension Term following the expiration of the period covered by the schedule of purchase prices attached hereto as Exhibit “C” Tenant shall serve a Tenant’s Termination Notice upon Landlord, this Lease and the Term hereof shall
terminate on the Termination Date specified in the Termination Notice; and in such event the entire award to be made in the Condemnation proceeding shall be paid to Lender or to Landlord, in that order. 

(c)     (i)      If a Condemnation of any part of the Leased
Premises which does not result in a Termination of this Lease, subject to the requirements of Paragraph 15, the Net Award of such Condemnation shall be retained by Landlord or Landlord’s Lender; and promptly after such Condemnation, Tenant
shall commence and diligently continue to restore the Leased Premises as nearly as possible to its value, condition and character immediately prior to such Condemnation, in accordance with the provisions of this Lease, including but not limited to
the provisions of Paragraphs 11(a), 12 and 15 (such restoration following a Condemnation and restoration following a casualty is, as the context shall require, herein called a Restoration). 

(ii)     Upon the payment to Landlord of the Net Award of a Taking which falls
within the provisions of this Paragraph 13(c), Landlord and Lender shall, to the extent received, make that portion of the Net Award equal to the cost of Restoration (the “Restoration Award”) available to Tenant for Restoration, in
accordance with the provisions of Paragraph 15, and promptly after completion of the Restoration, the balance of the Net Award shall be paid to Tenant and all Basic Rent, Additional Rent and other sums payable hereunder shall continue unabated and
unreduced. 
 (iii)     In the event of a Requisition of the Leased
Premises, Landlord shall apply the Net Award of such Requisition, to the extent available, to the installments of Basic Rent, Additional Rent or other sums payable by Tenant hereunder thereafter payable and Tenant shall pay any balance remaining
thereafter. Upon the expiration of the Term, any portion of such Net Award which shall not have been previously credited to Tenant on account of the Basic Rent and Additional Rent shall be retained by Landlord. 

(d)     Except with respect to an award or payment to which Tenant is entitled pursuant to the
provisions of Paragraph 13 (a), 13 (b) and 13 (c), no agreement with any condemnor in settlement of or under threat of any Condemnation shall be made by either Landlord or Tenant without the written consent of the other, and of Lender, if the
Leased Premises are then subject to a Mortgage, which consent of Landlord and Tenant shall not be unreasonably withheld or delayed. 
 (e)     The terms and provisions of this Paragraph 13 are intended to provide for all rights and obligations of the parties to this Lease in the event of the acquisition of all or
a 

  
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portion of the Leased Premises for public use as contemplated by Section 1265.160 of the California Code of Civil Procedure. 

14.     Insurance.  

(a)      Tenant shall obtain and maintain, and shall pay all premiums in
accordance with Subparagraph 14 (b) below for, insurance for Landlord, Lender and the Property providing at least the following coverages: 

(i)      comprehensive all risk insurance providing “special”
form coverage (including, without limitation, windstorm, riot and civil commotion, vandalism, malicious mischief, water, fire, burglary and theft, sinkhole collapse, hail, smoke, aircraft or vehicles, sprinkler leakage, and damage from weight of ice
or snow, and without any exclusion for terrorism) on the Improvements and the Personal Property and in each case (A) in an amount equal to 100% of the “Full Replacement Cost,” which for purposes hereof shall mean actual replacement
value (exclusive of costs of excavations, foundations, underground utilities and footings) with a waiver of depreciation; (B) containing an agreed amount endorsement and replacement cost endorsement with respect to the Improvements and personal
property waiving all co-insurance provisions; (C) providing for no deductible in excess of $100,000.00; and (D) containing Demolition Costs, Increased Cost of Construction and “Ordinance or Law Coverage” or
“Enforcement” endorsements in amounts satisfactory to Landlord’s Lender if any of the Improvements or the use of the Leased Premises shall at any time constitute legal non-conforming structures or uses or the ability to rebuild the
Improvements is restricted or prohibited. The Full Replacement Cost may be redetermined from time to time by an appraiser or contractor designated and paid by Lender or by an engineer or appraiser in the regular employ of the insurer. No omission on
the part of Lender to request any such appraisals shall relieve Borrower of any of its obligations under this Subparagraph; 
 (ii)    comprehensive commercial general liability insurance against claims for personal injury, bodily injury, death or property damage occurring upon, in or about the Leased
Premises, such insurance (A) to be on the so-called “occurrence” form with a combined single limit of not less than $1,000,000.00 per occurrence and not less than $5,000,000 in the aggregate, and not less than $3,000,000.00 if the
Leased Premises has one or more elevators, as well as liquor liability insurance in a minimum amount of $2,000,000.00 if any part of the Leased Premises is covered by a liquor license and an aggregate coverage limit acceptable to Lender (which
coverage Landlord acknowledges is not required while no liquor license is maintained which relates to the Leased Premises); (B) to continue at not less than the aforesaid limit until required to be changed by Lender in writing by reason of
changed economic conditions making such protection inadequate; (C) to cover at least the following hazards: (1) premises and operations; (2) products and completed operations on an “if any” basis (provided, anything
contained herein to the contrary notwithstanding, products/completed operations coverage shall be covered on a “claims made” basis); (3) independent contractors (except to the extent certificates of insurance are obtained from such
independent contractors); (4) blanket contractual liability for all written and oral contracts, to the extent such contracts are insurable; (5) contractual liability, to the extent the same is available and insurable; provided

  
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that in the case of Subsection (C)(4) and (5) such coverage shall be limited to “Insured Contracts”, defined as lease of premises; sidetrack agreements; an obligation required by
an ordinance to indemnify a municipality, except in connection with work for a municipality; elevator maintenance agreements; any other contract or agreement pertaining to Tenant’s business in which Tenant assumes the tort liability of another
person or organization to pay damages, to which its insurance applies, sustained by a third party. and (D) to be without deductible; 
 (iii)     business income insurance (A) with loss payable to Lender; (B) covering losses of income and Rents derived from the Leased Premises and any non-insured
property on or adjacent to the Leased Premises (but as to adjacent property, only to the extent Tenant has an insurable interest in such adjacent property) resulting from any risk or casualty whatsoever; (C) containing an extended period of
indemnity endorsement which provides that after the physical loss to the Improvements and personal property has been repaired, the continued loss of income will be insured until such income either returns to the same level it was at prior to the
loss, or the expiration of eighteen (18) months from the date that the Leased Premises is repaired or replaced and operations are resumed, whichever first occurs, and notwithstanding that the policy may expire prior to the end of such period;
and (D) in an amount equal to one hundred percent (100%) of the projected Basic Rent from the Leased Premises for a period of eighteen (18) months from the date of such casualty (assuming such casualty had not occurred) and
notwithstanding that the policy may expire at the end of such period. The amount of such business income insurance shall be determined by Lender, based solely on the amount of Basic Rent payable under the Lease, prior to the date hereof and at least
once each year thereafter based solely on the Basic Rent for the succeeding eighteen (18) month period. All insurance proceeds payable to Lender pursuant to this Subparagraph 14 (a)(iii) shall be held by Lender and shall be applied to the
obligations secured hereunder from time to time due and payable hereunder and under the Loan Documents; provided, however, that nothing herein contained shall be deemed to relieve Tenant of its obligations to pay the Basic Rent
hereunder on the respective dates of payment provided for in the Loan Documents except to the extent such amounts are actually paid out of the proceeds of such business income insurance; 

(iv)     at all times during which structural construction, repairs or
alterations are being made with respect to the Improvements (but only to the extent not covered under the all risk coverage required under Subparagraph 14(a)(i)): (A) owner’s contingent or protective liability insurance covering claims not
covered by or under the terms or provisions of the above mentioned commercial general liability insurance policy; and (B) the insurance provided for in Subparagraph 14(a)(i) written in a so-called builder’s risk completed value form
(1) on a non-reporting basis, (2) against all risks insured against pursuant to Subparagraph 14(a)(i), (3) including permission to occupy the Leased Premises , and (4) with an agreed amount endorsement waiving co-insurance
provisions; 
 (v)      workers’ compensation, subject to
the statutory limits of the state in which the Leased Premises is located, and employer’s liability insurance with a limit of at least $1,000,000.00 per accident and per disease per employee, and $1,000,000.00 for disease aggregate in respect
of any work or operations on 

  
 -17-

 
or about the Leased Premises, or in connection with the Leased Premises or its operation (if applicable); 

(vi)     comprehensive boiler and machinery insurance (without exclusion for
explosion), if applicable, for 100% of the full replacement cost of such equipment and the building or buildings housing the same, on terms consistent with the commercial property insurance policy required under Subparagraph 14(a)(i) above, and
covering all boilers or other pressure vessels, turbines, engines, machinery and equipment located at or about the Leased Premises (including, without limitation, electrical equipment, sprinkler systems, heating and air conditioning equipment,
refrigeration equipment and piping); 
 (vii)    if any portion of the
Improvements is currently or at any time in the future located in a “special flood hazard area,” as designated by the Federal Emergency Management Agency or such other applicable federal agency, flood hazard insurance in an amount equal to
the maximum amount available under the national flood insurance program and in addition to the maximum available under the national flood program, any excess limits as determined by Lender in its sole and absolute discretion, not to exceed
$100,000,000 annual aggregate, so long as the Leased Premises is not located in flood zones A or V; 
 (viii)   umbrella liability insurance in an amount not less than Five Million and No/100 Dollars ($5,000,000) per occurrence and in the aggregate on terms consistent with the commercial
general liability insurance policy required under Paragraph 14(a)(ii) hereof; 

(ix)     intentionally omitted; and 

(x)      such other insurance and in such amounts as Lender from time to
time may reasonably request against such other insurable hazards which at the time are commonly insured against for property similar to the Leased Premises located in or around the region in which the Leased Premises is located, including, without
limitation, environmental insurance. Initially, coverage for environmental shall be limited to contamination cleanup coverage necessitated by any insured casualty, not to exceed $50,000 annual aggregate coverage. Additional environmental coverage
shall be limited to instances where Lender reasonably believes such additional coverage is necessary to protect its security interest in the Leased Premises, shall be obtained by Landlord, and the cost, therefor, paid by Tenant to Landlord within
fifteen (15) days of receipt of an invoice, therefor. 

(b)      All insurance provided for in Subparagraph 14(a) hereof shall be
obtained under valid and enforceable policies (the “Policies”) or in the singular, the “Policy”), in such forms and, from time to time after the date hereof, in such amounts as may from time to time be satisfactory
to Lender, for a minimum policy term not less than one year, issued by financially sound and responsible insurance companies authorized to do business in the state in which the Leased Premises is located as admitted or unadmitted carriers which, in
either case, have been approved by Lender and which have a claims paying ability rating of A- or better issued by Standard & Poor’s Ratings Services, a division of The Mc-Graw Hill Companies, Inc. or with a claims paying ability rating
otherwise acceptable to Lender (each such insurer shall be referred to below as a 

  
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“Qualified Insurer”). Such Policies shall not be subject to invalidation due to the use or occupancy of the Leased Premises for purposes more hazardous than the use of the Leased
Premises at the time such Policies were issued. No Policy required under Paragraphs 14 (a)(i) and (iii) hereof shall contain an exclusion from coverage under such Policy for loss or damage incurred as a result of an act of terrorism or similar
acts of sabotage, or if any such Policy does contain such an exclusion, Tenant shall obtain and maintain a separate terrorism insurance policy with coverage amounts and for periods required by Paragraphs 14(a)(i) and (iii) above. Not
less than thirty (30) days prior to the expiration dates of the Policies theretofore furnished to Lender pursuant to Subparagraph 14 (a)), certified copies of the Policies marked “premium paid” or accompanied by evidence
satisfactory to Lender of payment of the premiums (which may consist of a letter from Tenant’s insurance carrier) due thereunder (the “Insurance Premiums”), shall be delivered by Tenant to Lender; provided, however, that in the case
of renewal Policies, Tenant may furnish Lender with binders therefor to be followed by the original Policies when issued. The foregoing notwithstanding, so long as Tenant provides certificates of insurance that will allow Lender and Landlord to
confirm that required coverages are in place, Tenant shall not be obligated to furnish copies of actual insurance policies. 
 (c)      Tenant shall not obtain (i) separate insurance concurrent in form or contributing in the event of loss with that required in Subparagraph 14(a) to be
furnished by, or which may be reasonably required to be furnished by, Tenant, or (ii) any umbrella or blanket liability or casualty Policy unless, in each case, Lender’s interest is included therein and such Policy is issued by a Qualified
Insurer. If Tenant obtains separate insurance or an umbrella or a blanket Policy, Tenant shall notify Lender of the same and shall cause certified copies of each Policy to be delivered as required in Subparagraph 14(a). Any blanket insurance
Policy shall specifically allocate to the Leased Premises the amount of coverage from time to time required hereunder and shall otherwise provide the same protection as would a separate Policy insuring only the Leased Premises in compliance with the
provisions of Subparagraph 14(a). 
 (d)      All Policies
of insurance provided for or contemplated by Subparagraph 14(a) shall name Lender, its successors and assigns, including any servicers, trustees or other designees of Lender, and Landlord as additional insureds, as their respective interests
may appear, and in the case of property damage, boiler and machinery, and flood insurance, shall contain a so-called New York standard non-contributing Lender clause in favor of Lender providing that the loss thereunder shall be payable to Lender.

 (e)      All Policies of insurance provided for in
Subparagraph 14(a) shall contain clauses or endorsements to the effect that: 

(i)      no act or negligence of Landlord, Tenant, or anyone acting for
Tenant, or other occupant, or failure to comply with the provisions of any Policy which might otherwise result in a forfeiture of the insurance or any part thereof, shall in any way affect the validity or enforceability of the insurance insofar as
Lender is concerned; 
 (ii)     the Policy shall not be materially
changed (other than to increase the coverage provided on the Leased Premises thereby) or canceled without at least thirty (30) days’ prior written notice to Lender and any other 

  
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party named therein as an insured (Landlord hereby agreeing that such 30 day notification may be added by endorsement); 

(iii)    each Policy shall provide that the issuers thereof shall give written
notice to Lender if the Policy has not been renewed thirty (30) days prior to its expiration (Landlord hereby agreeing that such 30 day notification may be added by endorsement); and 

(iv)     Lender shall not be liable for any Insurance Premiums thereon or
subject to any assessments thereunder. 
 (f)       Tenant
shall furnish to Lender within ten (10) calendar days after Lender’s or Landlord’s request therefor, a statement certified by Tenant or a duly authorized officer of Tenant of the amounts of insurance maintained in compliance herewith,
of the risks covered by such insurance and of the insurance company or companies which carry such insurance and, if requested by Lender or Landlord, verification of the adequacy of such insurance by an independent insurance broker or appraiser
acceptable to Lender or Landlord. 
 (g)       If at any
time Landlord is not in receipt of written evidence that all insurance required hereunder is in full force and effect, Landlord shall have the right but not the obligation, without notice to Tenant, to take such action as Landlord deems necessary to
protect its interest in the Leased Premises , including, without limitation, the obtaining of such insurance coverage as Landlord in its sole discretion deems appropriate, and all expenses incurred by Landlord in connection with such action or in
obtaining such insurance and keeping it in effect shall be paid by Tenant to Landlord upon demand and until paid shall be payable to Landlord as Additional Rent (hereinafter defined). 

(h)    During such time as (i) no Event of Default is outstanding hereunder, (ii) the net
worth of Tenant (inclusive of good will) shall be not less than Four Hundred Million ($400,000,000.00) Dollars as determined in accordance with generally accepted accounting principles consistently applied, and (iii) Tenant (if rated) has a
Standard & Poors rating of A- or better and Tenant is the sole tenant of the property, Tenant may self-insure all or any portion of the coverage referred to in Paragraph 14 (a) (i), (ii), (iii), (v) and (vi), provided that the
self insurance program of this paragraph (b) does not violate any Legal Requirements of any state which regulates a Lender domiciled in said state. If Tenant elects to self insure pursuant to this Paragraph 14, Tenant shall issue certificates
to landlord and Lender and each such certificate shall name Lender as an additional insured and with respect to all risk and business interruption insurance, as first mortgagee, as required hereunder. 

(i)     If said insurance or any part thereof shall expire, be withdrawn, become void by breach
of any condition thereof by Tenant or become void or unsafe by reason of the failure or impairment of the capital of any insurer, Tenant shall immediately obtain new or additional insurance reasonably satisfactory to Landlord and Lender. 

(j)     Each insurance policy referred to in Subparagraph 14(a) above, if obtainable and
requested by Lender, shall contain standard non-contributory mortgagee clauses in favor of any Lender which holds a Mortgage on the Leased Premises. 
 (k)    In the event of any casualty loss exceeding Five Hundred Thousand Dollars ($500,000), Tenant shall give Landlord and Lender immediate notice thereof. Tenant

  
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shall adjust, collect and compromise any and all claims, with the consent of Lender and Landlord, not to be unreasonably withheld or delayed, and Landlord and Lender shall have the right to join
with Tenant therein. If the estimated cost of Restoration or repair shall be Five Hundred Thousand ($500,000) Dollars or less, all proceeds of any insurance required under clauses Subparagraph 14(a) shall be payable to Tenant, provided that Tenant
at such time shall have a net worth of not less than One Hundred Million ($100,000,000) Dollars as determined in accordance with generally accepted accounting principles, consistently applied, and in all other events to a Trustee which shall be a
federally insured bank or other financial institution, selected by Landlord and Tenant and reasonably satisfactory to Lender (the “Trustee”). Notwithstanding the foregoing, if the Leased Premises shall be covered by a Mortgage, Lender, if
it so desires, shall be the, or appoint an approved, Trustee. Each insurer is hereby authorized and directed to make payment under said policies directly to such Trustee instead of to Landlord and Tenant jointly; and Tenant and Landlord each hereby
appoints such Trustee as its attorney-in-fact to endorse any draft therefor for the purposes set forth in this Lease after approval by Tenant of such Trustee, if Trustee is other than Lender. In the event of any casualty (whether or not insured
against) resulting in damage to the Leased Premises or any part thereof, the Term shall nevertheless continue and there shall be no abatement or reduction of Basic Rent, Additional Rent or any other sums payable by Tenant hereunder. The Net Proceeds
of such insurance payment shall be retained by the Trustee and, promptly after such casualty, Tenant, as required in Paragraphs 11 (a) and 12, shall commence and diligently continue to perform the Restoration to the Leased Premises. Upon
payment to the Trustee of such Net Proceeds, the Trustee shall, to the extent available, make the Net Proceeds available to Tenant for Restoration, in accordance with the provisions of Paragraph 15. Tenant shall, whether or not the Net Proceeds are
sufficient for the purpose, promptly repair or replace the Improvements and Equipment in accordance with the provisions of Paragraph 11(a) and the Net Proceeds of such loss shall thereupon be payable to Tenant, subject to the provisions of Paragraph
15 hereof. In the event that any damage or destruction shall occur at such time as Tenant shall not have maintained third-party insurance in accordance with Paragraph 14(a)(i),(iv),(v) or (vi), Tenant shall pay to the Trustee the amount of the
proceeds that would have been payable had such insurance program been in effect (the Tenant Insurance Payment). 
 15.      Restoration. Net Proceeds, Restoration Award and Tenant Insurance Payment (the aggregate of which being herein defined as the “Restoration Fund”)
shall be disbursed by the Trustee in accordance with the following conditions: 

(a)      If the cost of Restoration will exceed $500,000, prior to commencement of the
Restoration the architects, general contractor(s), and plans and specifications for the Restoration shall be approved by Landlord and Lender, which approval shall not be unreasonably withheld or delayed; and which approval shall be granted to the
extent that the plans and specifications depict a Restoration which is substantially similar to the Improvements and Equipment which existed prior to the occurrence of the casualty or taking, whichever is applicable. 

(b)      At the time of any disbursement, no Event of Default shall exist and no
mechanics’ or materialmen’s liens shall have been filed and remain undischarged or unbonded. 

(c)      Disbursements shall be made from time to time in an amount not exceeding the hard
and soft cost of the work and costs incurred since the last disbursement upon receipt of (1) satisfactory evidence, including architects’ certificates of the stage of completion, of the estimated cost of completion and of performance of
the work to date in a good and workmanlike manner in accordance with the contracts, plans and specifications, (2) partial 

  
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releases of liens, and (3) other reasonable evidence of cost and payment so that Landlord and Lender can verify that the amounts disbursed from time to time are represented by work that is
completed in place or delivered to the site and free and clear of mechanics’ lien claims. 

(d)      Each request for disbursement shall be accompanied by a certificate of Tenant
describing the work, materials or other costs or expenses, for which payment is requested, stating the cost incurred in connection therewith and stating that Tenant has not previously received payment for such work or expense and the certificate to
be delivered by Tenant upon completion of the work shall, in addition, state that the work has been substantially completed and complies with the applicable requirements of this Lease. 

(e)      The Trustee may retain ten percent (10%) of the Restoration Fund until the
Restoration is at least fifty percent (50%) complete, and thereafter five percent (5%) until the Restoration is substantially complete. 
 (f)      The Restoration Fund shall be kept in a separate interest-bearing federally insured account by the Trustee or by Lender. 

(g)      At all times the undisbursed balance of the Restoration Fund held by Trustee plus
any funds contributed thereto by Tenant, at its option, shall be not less than the cost of completing the Restoration, free and clear of all liens. 
 (h)      In addition, prior to commencement of Restoration and at any time during Restoration, if the estimated cost of Restoration, as reasonably determined by Landlord, and
approved by Lender, exceeds the amount of the Net Proceeds, the Restoration Award and Tenant Insurance Payment available for such Restoration, the amount of such excess shall be paid by Tenant to the Trustee to be added to the Restoration Fund or
Tenant shall fund at its own expense the costs of such Restoration until the remaining Restoration Fund is sufficient for the completion of the Restoration. Any sum in the Restoration Fund which remains in the Restoration Fund upon the completion of
Restoration shall be paid to Tenant. For purposes of determining the source of funds with respect to the disposition of funds remaining after the completion of Restoration, the Net Proceeds or the Restoration Award shall be deemed to be disbursed
prior to any amount added by Tenant. 
 16.      Subordination to
Financing. 
 (a)      (i)      Subject to the
provisions of Paragraph 16 (a)(ii), Tenant agrees that this Lease shall at all times be subject and subordinate to the lien of any Mortgage, and Tenant agrees, upon demand, without cost, to execute instruments as may be required to further
effectuate or confirm such subordination. 
 (ii)     Except as
expressly provided in this Lease by reason of the occurrence of an Event of Default, Tenant’s tenancy and Tenant’s rights under this Lease shall not be disturbed, terminated or otherwise adversely affected, nor shall this Lease be
affected, by any default under any Mortgage, and in the event of a foreclosure or other enforcement of any Mortgage, or sale in lieu thereof, the purchaser at such foreclosure sale shall be bound to Tenant for the Term of this Lease and any
Extension Term, the rights of Tenant under this Lease shall expressly survive, and this Lease shall in all respects continue in full force and effect so long as no Event of Default has occurred and is continuing. So long as no Event of Default shall
have occurred, Tenant shall not be named as a party defendant in any such foreclosure suit, except as may be required by 

  
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Law. Any Mortgage to which this Lease is now or hereafter subordinate shall provide, in effect, that so long as no Event of Default shall have occurred under the Lease, during the time this Lease
is in force insurance proceeds and Restoration Award shall be permitted to be used for Restoration in accordance with the provisions of this Lease. 
 (b)      Notwithstanding the provisions of Paragraph 16(a), the holder of any Mortgage to which this Lease is subject and subordinate shall have the right, at its sole
option, at any time, to subordinate and subject the Mortgage, in whole or in part, to this Lease by recording a unilateral declaration to such effect, provided that such holder shall have agreed that during the time this Lease is in force insurance
proceeds and Restoration Award shall be permitted to be used for restoration in accordance with the provisions of this Lease. 
 (c)      At any time prior to the expiration of the Term, Tenant agrees, at the election and upon demand of any owner of the Leased Premises, or of a Lender who has granted
non-disturbance to Tenant pursuant to Paragraph 16 (a) above, to attorn, from time to time, to any such owner or Lender, upon the terms and conditions of this Lease, for the remainder of the Term. The provisions of this Paragraph 16(c) shall
inure to the benefit of any such owner or Lender, shall apply notwithstanding that, as a matter of law, this Lease may terminate upon the foreclosure of the Mortgage, shall be self-operative upon any such demand, and no further instrument shall be
required to give effect to said provisions. 
 (d)      Each of Tenant, any owner
and Lender, however, upon demand of the other, hereby agrees to execute, from time to time, instruments in confirmation of the foregoing provisions of Paragraphs 16(a) and 16(c), reasonably satisfactory to the requesting party acknowledging such
subordination, non-disturbance and attornment as are provided in such subparagraphs and setting forth the terms and conditions of its tenancy. 
 (e)      Each of Tenant, Landlord and Lender agrees that, if requested by any of the others, each shall, without charge, enter into a Subordination, Non-Disturbance and
Attornment Agreement reasonably requested by Lender, provided such agreement contains provisions relating to non-disturbance in accordance with the provisions of subparagraph (a) and Tenant hereby agrees for the benefit of Lender that Tenant
will not, (i) without in each case the prior written consent of Lender, which shall not be unreasonably withheld, conditioned or delayed, amend or modify the Lease (provided, however, Lender, in Lender’s sole discretion may withhold or
condition its consent to any amendment or modification which would or could (A) alter in any way the amount or time for payment of any Basic Rent, Additional Rent or other sum payable hereunder, (B) alter in any way the absolute and
unconditional nature of Tenant’s obligations hereunder or materially diminish any such obligations, (C) result in any termination hereof prior to the end of the initial term, or (D) otherwise, in Lender’s reasonable judgment,
affect the rights or obligations of Landlord or Tenant hereunder), or enter into any agreement with Landlord so to do, (ii) without the prior written consent of Lender which may be withheld in Lender’s sole discretion, cancel or surrender
or seek to cancel or surrender the Term hereof, or enter into any agreement with Landlord to do so (the parties agreeing that the foregoing shall not be construed to affect the rights or obligations of Tenant, Landlord or Lender with respect to any
termination permitted under the express terms hereof in connection with an offer to purchase the Leased Premises following certain events of Condemnation as provided in Paragraph 13 hereof), or (iii) pay any installment of Basic Rent more than
one (1) month in advance of the due date thereof or otherwise than in the manner provided for in this Lease. 
 17.      Assignment, Subleasing. 

  
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 (a)      Subject to the provisions of this
Paragraph 17, Tenant may assign, sublet, mortgage or pledge its interest in this Lease and may sublet the Leased Premises in whole or in part, from time to time, without the consent of Landlord. 

(b)      Each sublease of the Leased Premises or any part thereof shall be subject and
subordinate to the provisions of this Lease. No assignment or sublease shall affect or reduce any of the obligations of Tenant hereunder, and all such obligations shall continue in full force and effect as obligations of a principal and not as
obligations of a guarantor, as if no assignment or sublease had been made. Notwithstanding any assignment or subletting the original Tenant (i.e., Invitrogen Corporation) and any subsequent tenant who becomes Tenant hereunder, shall continue to
remain liable and responsible for the payment of the Basic Rent and Additional Rent and the performance of all its other obligations under this Lease. No assignment or sublease shall impose any obligations on Landlord under this Lease except as
otherwise provided in this Lease. Tenant agrees that in the case of an assignment of the Lease, Tenant shall, within fifteen (15) days after the execution and delivery of any such assignment, deliver to Landlord (i) a duplicate original of
such assignment in recordable form and (ii) an agreement executed and acknowledged by the assignee in recordable form wherein the assignee shall agree to assume and agree to observe and perform all of the terms and provisions of this Lease on
the part of the Tenant to be observed and performed from and after the date of such assignment. In the case of a sublease, Tenant shall, within fifteen (15) days after the execution and delivery of such sublease, deliver to Landlord a duplicate
original of such sublease and at Landlord’s option, requiring any subtenant to recognize such sublease as a direct agreement between Landlord and such subtenant upon Tenant’s default (beyond any applicable cure period set forth herein).

 (c)      Upon the occurrence of an Event of Default under this Lease, Landlord
shall have the right to collect and enjoy all rents and other sums of money payable under any sublease of any of the Leased Premises, and Tenant hereby irrevocably and unconditionally assigns such rents and money to Landlord, which assignment may be
exercised upon and after (but not before) the occurrence of an Event of Default. 

18.      Permitted Contests. 

(a)      After prior written notice to Landlord, Tenant shall not be required to
(i) pay any Imposition, (ii) comply with any Legal Requirement, (iii) discharge or remove any lien referred to in Paragraphs 9 or 12, or (iv) take any action with respect to any violation referred to in Paragraph 11(b) so long as
Tenant shall contest, in good faith and at its expense, the existence, the amount or the validity thereof, the amount of the damages caused thereby, or the extent of its or Landlord’s liability therefor, by appropriate proceedings which shall
operate during the pendency thereof to prevent (A) the collection of, or other realization upon, the Imposition or lien so contested, (B) the sale, forfeiture or loss of any of the Leased Premises, any Basic Rent or any Additional Rent to
satisfy the same or to pay any damages caused by the violation of any such Legal Requirement or by any such violation, (C) any interference with the use or occupancy of any of the Leased Premises, (D) any interference with the payment of
any Basic Rent or any Additional Rent, and (E) the cancellation of any fire or other insurance policy. 

(b)      In no event shall Tenant pursue any contest with respect to any Imposition, Legal
Requirement, lien, or violation, referred to above in such manner that exposes Landlord or Lender to (i) criminal liability, penalty or sanction, (ii) any civil liability, penalty or sanction for which Tenant has not made provisions
reasonably acceptable to Landlord and Lender or (iii) defeasance of its interest in the Leased Premises. 

  
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 (c)      Tenant agrees that each such contest
shall be promptly and diligently prosecuted to a final conclusion, except that Tenant shall have the right to attempt to settle or compromise such contest through negotiations. Tenant shall pay and save Lender and Landlord harmless against any and
all losses, judgments, decrees and costs (including all attorneys’ fees and expenses) in connection with any such contest and shall, promptly after the final determination of such contest, fully pay and discharge the amounts which shall be
levied, assessed, charged or imposed or be determined to be payable therein or in connection therewith, together with all penalties, fines, interest, costs and expenses thereof or in connection therewith, and perform all acts the performance of
which shall be ordered or decreed as a result thereof. 
 19.      Conditional
Limitations; Default Provisions. 
 (a)      The occurrence of any one or
more of the following events (any such event being specified herein as a failure or default) shall constitute an Event of Default under this Lease: (i) a failure by Tenant to make (regardless of the pendency of any bankruptcy, reorganization,
receivership, insolvency or other proceedings, in law, in equity or before any administrative tribunal which had or might have the effect of preventing Tenant from complying with the provisions of this Lease): (x) any payment of Basic Rent
which continues unremedied for a period of three (3) business days after written notice (“Nonpayment Notice”) thereof given to Tenant by Landlord or Lender or Lender’s designee, or (y) any payment of Additional Rent or other
sum herein required to be paid by Tenant which continues unremedied for a period of fifteen (15) business days after a Nonpayment Notice is given to Tenant by Landlord or Lender or Lender’s designee; (ii) failure by Tenant to perform
and observe, or a violation or breach of, any other provision in this Lease and such default shall continue for a period of sixty (60) business days after written notice thereof is given by Landlord or Lender or Lender’s designee to Tenant
or if such default is of such a nature that it cannot reasonably be cured within such period of sixty (60) business days, such period shall be extended for such longer time as is reasonably necessary provided that Tenant has commenced to cure
such default within said period of sixty (60) business days and is actively, diligently and in good faith proceeding with continuity to remedy such default; (iii) Tenant shall (A) voluntarily be adjudicated a bankrupt or insolvent,
(B) or voluntarily consent to the appointment of a receiver or trustee for itself or for any of the Leased Premises, (C) voluntarily file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state
or any jurisdiction, or (D) voluntarily file a general assignment for the benefit of creditors; (iv) a court shall enter an order, judgment or decree appointing, with the voluntary consent of Tenant, a receiver or trustee for Tenant or for
the Leased Premises or approving a petition filed against Tenant which seeks relief under the bankruptcy or other similar laws of the United States or any State, and such order, judgment or decree shall remain in force, undischarged or unstayed, 180
business days after it is entered; (v) Tenant shall in any insolvency proceedings be liquidated or dissolved or shall voluntarily commence proceedings towards its liquidation or dissolution; (vi) the estate or interest of Tenant in the
Leased Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred or such process shall not be vacated or discharged within 180 business days after such levy or attachment; or
(vii) an Event of Default shall have occurred under any of the other Tenant Leases with Landlord during the Initial Term but excluding any Extension Term or (viii) any representation or warranty by Tenant in any lease, guaranty, estoppel
or other written certificate, financial statement or agreement delivered in connection with this Lease shall have been incorrect in a material respect when made. 

(b)      If any Event of Default shall have occurred, Landlord shall have the right at its
option, then or at any time thereafter, to do any one or more of the following without demand upon or notice to Tenant: 

  
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 (i)      Landlord may give
Tenant notice (following the occurrence of an Event of Default) of Landlord’s intention to terminate this Lease on a date specified in such notice (which date shall be no sooner than thirty (30) days after the date of the notice). Upon the
date therein specified, unless the Event of Default for which the termination is effected has been cured by Tenant, the Term and the estate hereby granted and all rights of Tenant hereunder shall expire and terminate as if such date were the date
herein above fixed for the expiration of the Term, but Tenant shall remain liable for all its obligations hereunder through the date herein above fixed for the expiration of the Term, including its liability for Basic Rent and Additional Rent as
hereinafter provided. 
 (ii)      Landlord may, whether or not
the Term of this Lease shall have been terminated pursuant to clause (i) above give Tenant notice (following the occurrence of an Event of Default) to surrender the Leased Premises to Landlord on a date specified in such notice (which date
shall be no sooner than thirty (30) days after the date of the notice), at which time Tenant shall surrender and deliver possession of the Leased Premises to Landlord unless the Event of Default for which the termination is effected has been
cured by Tenant. Upon or at any time after taking possession of the Leased Premises, Landlord may remove any persons or property therefrom. Landlord shall be under no liability for or by reason of any such entry, repossession or removal. No such
entry or repossession shall be construed as an election by Landlord to terminate this Lease unless Landlord gives a written notice of such intention to Tenant pursuant to clause (i) above. 

(iii)      After repossession of any of the Leased Premises pursuant to
clause (ii) above, whether or not this Lease shall have been terminated pursuant to clause (i) above, Landlord may relet the Leased Premises or any part thereof to such tenant or tenants for such term or terms (which may be greater or less
than the period which would otherwise have constituted the balance of the Term) for such rent, on such conditions (which may include concessions or free rent) and for such uses as Landlord, in its reasonable discretion, may determine; and Landlord
shall collect and receive any rents payable by reason of such reletting. The rents received on such reletting shall be applied (A) first to the reasonable and actual expenses of such reletting and collection, including without limitation
necessary renovation and alterations of the Leased Premises, reasonable and actual attorneys’ fees and any reasonable and actual real estate commissions paid, and (B) thereafter toward payment of all sums due or to become due Landlord
hereunder. If a sufficient amount to pay such expenses and sums shall not be realized or secured, then Tenant shall pay Landlord any such deficiency monthly, and Landlord may bring an action therefor as such monthly deficiency shall arise. Landlord
shall not, in any event, be required to pay Tenant any sums received by Landlord on a reletting of the Leased Premises in excess of the rent provided in this Lease, but such excess shall reduce any accrued present or future obligations of Tenant
hereunder. Landlord’s re-entry and reletting of the Leased Premises without termination of this Lease shall not preclude Landlord from subsequently terminating this Lease as set forth above. Landlord may make such Alterations as Landlord in its
reasonable discretion may deem advisable. Tenant agrees to pay Landlord, as Additional Rent, immediately upon demand, all reasonable expenses incurred by Landlord in obtaining possession, in performing Alterations and in reletting any of the Leased
Premises, including fees and commissions of attorneys, architects, agents and brokers. 

  
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 (iv)      If Tenant shall
fail to make payment of any installment of Basic Rent or any Additional Rent on or before the date when each such payment is due, Tenant shall pay to Landlord, a sum equal to two (2%) percent per annum above the then current Prime Rate, as
hereinafter defined, of the amount unpaid, or the default rate specified under the Loan, whichever is greater (the “Default Rate”) computed from the date such payment of Basic Rent or Additional Rent was due to and including the date of
payment. The term Prime Rate shall mean the prime rate of interest published in the Wall Street Journal or its successor, from time to time. 
 (v)      Landlord may exercise any other right or remedy now or hereafter existing by law or in equity, including, without limitation, the remedies provided for in:
(i) California Civil Code Section 1951.2, including, without limitation, paragraph (3) of subdivision (a) thereof which provides that Landlord shall also be entitled to recover from Tenant the worth at the time of award of the
amount by which the unpaid Rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; and (ii) California Civil Code Section 1951.4, which provides, in
effect, that a lessor may continue a lease in effect after the lessee’s breach and abandonment and may recover rent as it becomes due, if the lessee has the right to sublet or assign, subject only to reasonable limitations. Notwithstanding
anything set forth herein to the contrary, Landlord shall give such notice as may be required under California Code of Civil Procedure Section 1161 or as may otherwise be required under California law prior to instituting any action to recover
possession of the Leased Premises or for the appointment of a receiver to take possession of the Leased Premises after the occurrence of any Event of Default or prior to instituting any action for damages as a consequence of any Event of Default.

 (c)      In the event of any expiration or termination of this Lease or
repossession of any of the Leased Premises by reason of the occurrence of an Event of Default, Tenant shall pay to Landlord Basic Rent, Additional Rent and all other sums required to be paid by Tenant to and including the date of such expiration,
termination or repossession and, thereafter, Tenant shall, until the end of what would have been the Term in the absence of such expiration, termination or repossession, and whether or not any of the Leased Premises shall have been relet, be liable
to Landlord for and shall pay to Landlord as liquidated and agreed current damages: (i) Basic Rent, Additional Rent and all other sums which would be payable under this Lease by Tenant in the absence of such expiration, termination or
repossession, less (ii) the net proceeds, if any, of any reletting pursuant to paragraph 19 (b) (iii), after deducting from such proceeds all of Landlord’s reasonable expenses in connection with such reletting (including all
reasonable repossession costs, brokerage commissions, legal expenses, attorneys’ fees, employees’ expenses, costs of Alteration and expenses of preparation for reletting). Tenant hereby agrees to be and remain liable for all sums aforesaid
and Landlord may recover such damages from Tenant and institute and maintain successive actions or legal proceedings against Tenant for the recovery of such damages. Nothing herein contained shall be deemed to require Landlord to wait to begin such
action or other legal proceedings until the date when the Term would have expired by limitation had there been no such Event of Default. 
 (d)      At any time after such expiration or sooner termination of this Lease pursuant to Paragraph 19 or pursuant to Law or if Landlord shall have reentered the Leased
Premises, as the case may be, whether or not Landlord shall have recovered any amounts under Paragraph 19(b)(iii) or 19(c), Landlord shall be entitled to recover from Tenant and Tenant shall pay to Landlord, on demand, as and for liquidated and
agreed final damages for Tenant’s default, the amount by which the Basic Rent, and all Additional Rent reserved hereunder for the 

  
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unexpired portion of the Term demised herein as if the Lease had not expired or been terminated exceeds the then fair and reasonable rental value of the Leased Premises for the same period,
discounted to present worth at the annual rate of seven percent (7%), minus any such monthly deficiencies previously recovered from Tenant under Paragraph 19(b)(iii) if applicable to such period. 

(e)      If any statute or rule of law governing a proceeding in which such liquidated
final damages provided for in Paragraph 19(d) are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Landlord shall be entitled to the maximum amount allowable under such statute or rule of law.

 20.      Additional Rights of Landlord and Tenant. 

(a)      No right or remedy conferred upon or reserved to Landlord in this Lease is
intended to be exclusive of any other right or remedy; and each and every right and remedy shall be cumulative and in addition to any other right or remedy contained in this Lease. No delay or failure by Landlord or Tenant to enforce its rights
under this Lease shall be construed as a waiver, modification or relinquishment thereof. In addition to the other remedies provided in this Lease, Landlord and Tenant shall be entitled, to the extent permitted by applicable law, to injunctive relief
in case of the violation or attempted or threatened violation of any of the provisions of this Lease, or to specific performance of any of the provisions of this Lease. 

(b)      Tenant hereby waives and surrenders for itself and all those claiming under it,
including creditors of all kinds, any right and privilege which it or any of them may have under any present or future Law to redeem any of the Leased Premises or to have a continuance of this Lease after termination of this Lease or of
Tenant’s right of occupancy or possession pursuant to any court order or any provision hereof. 

(c)      Landlord hereby waives any right to distrain or levy upon Trade Fixtures or any
property of Tenant and any Landlord’s lien or similar lien upon Trade Fixtures and any other property of Tenant regardless of whether such lien is created or otherwise. Landlord agrees at the request of Tenant, to execute a waiver of any
Landlord’s or similar lien for the benefit of any present or future holder of a security interest in or lessor of any of Trade Fixtures or any other personal property of Tenant in mutually agreeable form. 

(d)      Landlord acknowledges and agrees in the future to acknowledge (in a written form
reasonably satisfactory to Tenant) to such persons and entities at such times and for such purposes as Tenant may reasonably request that the Trade Fixtures are Tenant’s property and not part of the Improvements (regardless of whether or to
what extent such Trade Fixtures are affixed to the Improvements) or otherwise subject to the terms of this Lease. 
 (e)      Each of Tenant and Landlord (“Paying Party”) agrees to pay to the other party (herein called “Demanding Party”) any and all reasonable costs and
expenses incurred by the Demanding Party in connection with any litigation or other action instituted by the Demanding Party to enforce the obligations of the Paying Party under this Lease, to the extent that the Demanding Party has prevailed in any
such litigation or other action. Any amount payable by Tenant to Landlord pursuant to this Paragraph 20(e) shall be due and payable by Tenant to Landlord as Additional Rent. No sum payable by Landlord to Tenant under this subparagraph will be
payable or recoverable from any sums pledged or assigned (or intended to have been pledged or assigned) by Landlord to Lender, Tenant’s right to recover such sums from Landlord being subordinate to the rights of Lender, such sums only being
recoverable after 

  
 -28-

 
payment to Lender in full of the Loan as constituted on the date hereof. As used in this Paragraph, costs and expenses shall include, without limitation, reasonable attorneys’ fees at trial,
on appeal and on any petition for review, and in any proceeding in bankruptcy, in addition to all other sums provided by Law. 
 21.      Notices.  All notices, demands, requests, consents, approvals, offers, statements and other instruments or communications required or permitted to
be given pursuant to the provisions of this Lease (collectively “Notice” or “Notices”) shall be in writing and shall be deemed to have been given for all purposes (i) three (3) days after having been sent by United
States mail, by registered or certified mail, return receipt requested, postage prepaid, addressed to the other party at its address as stated below, or (ii) one (1) day after having been sent by Federal Express, United Parcel or other
nationally recognized air courier service. 
 To the Addresses stated below: 

If to Landlord (Landlord shall at all times during the Term of this Lease employ a qualified professional property
management company or asset manager to manage the Property, and such manager shall be Tenant’s primary point of contact for all communications with Landlord, including, without limitation, the giving of all notices): 

At the addresses set forth on Exhibit D attached hereto. 

 

			
	If to Tenant:	  	 Invitrogen Corporation

		  	 1600 Faraday Avenue

		  	 Carlsbad, CA 92008

		  	 Attn: Director of Global Facilities

		
	With a copy to:	  	 Invitrogen Corporation

		  	 1600 Faraday Avenue

		  	 Carlsbad, CA 92008

		  	 Attn: General Counsel.

		
	And a copy to:	  	 DLA Piper Rudnick Gray Cary US LLP

		  	 401 B Street, Suite 1700

		  	 San Diego, CA 92101-4297

		  	 Attn: Joseph A. Delaney, Esq.

 If any Lender shall have advised Tenant by Notice in the manner aforesaid that it is the holder of a Mortgage and states in said Notice its address for the receipt of Notices, then simultaneously with the
giving of any Notice by Tenant to Landlord, Tenant shall send a copy of such Notice to Lender in the manner aforesaid. For the purposes of this Paragraph 21, any party may substitute its address by giving fifteen days’ notice to the other party
in the manner provided above. Any Notice may be given on behalf of any party by its counsel. 

22.      Estoppel Certificates.  Landlord and Tenant shall at any time
and from time to time, upon not less than twenty days’ prior written request by the other, execute, acknowledge and deliver to the other a statement in writing, certifying (i) that this Lease is unmodified and in full effect (or, if there
have been modifications, that this Lease is in full effect as modified, setting forth such modifications), (ii) the dates to which Basic Rent and any Additional Rent, payable hereunder has been paid, (iii) that to the knowledge of the
signer of such certificate no default by either Landlord or Tenant exists hereunder or specifying each such 

  
 -29-

 
default of which the signer may have knowledge, (iv) the remaining Term hereof, (v) with respect to a certificate signed on behalf of Tenant, that to the knowledge of the signer of such
certificate, there are no proceedings pending or threatened against Tenant before or by any court or administrative agency which if adversely decided would materially and adversely affect the financial condition and operations of Tenant or if any
such proceedings are pending or threatened to said signer’s knowledge, specifying and describing the same , and (vi) such other matters as may reasonably be requested by the party requesting the certificate. It is intended that any such
statements may be relied upon by Lender, the recipient of such statements or their assignees or by any prospective purchaser, assignee or subtenant of the Leased Premises. 

23.      Surrender and Holding Over. 

(a)      Upon the expiration or earlier termination of this Lease, Tenant shall peaceably
leave and surrender the Leased Premises (except as to any portion thereof with respect to which this Lease has previously terminated) to Landlord. Tenant shall remove from the Leased Premises on or prior to such expiration or earlier termination the
Trade Fixtures and personal property which is owned by Tenant or third parties other than Landlord, and Tenant at its expense shall, on or prior to such expiration or earlier Termination, repair any damage caused by such removal. Trade Fixtures and
personal property not so removed at the end of the Term or within thirty days after the earlier termination of the Term for any reason whatsoever shall become the property of Landlord, and Landlord may thereafter cause such property to be removed
from the Leased Premises. The cost of removing and disposing of such property and repairing any damage to any of the Leased Premises caused by such removal shall be borne by Tenant. Landlord shall not in any manner or to any extent be obligated to
reimburse Tenant for any property which becomes the property of Landlord as a result of such expiration or earlier termination. 
 (b)      Any holding over by Tenant of the Leased Premises after the expiration or earlier termination of the Term of this Lease or any extensions thereof, with the consent
of Landlord, shall operate and be construed as tenancy from month to month only, at one hundred ten percent (110%) of the Basic Rent reserved herein and upon the same terms and conditions as contained in this Lease. Notwithstanding the
foregoing, any holding over without Landlord’s consent shall entitle Landlord, in addition to collecting Basic Rent at a rate of one hundred ten percent (110%) thereof, to exercise all rights and remedies provided by law or in equity,
including the remedies of Paragraph 19 (b). 
 (c)      If Landlord consists of
more than one entity, Landlord shall at all times employ a qualified, professional asset manager or property manager which manager shall be Tenant’s primary point of contact for all communications with Landlord. If Landlord consists of more
than one entity, Rent shall be made payable to the asset manager or property manager of Landlord, as its authorized agent, or, upon the exercise by Lender of its rights under the Loan Documents, as directed by Lender. 

24.      No Merger of Title.  There shall be no merger of this Lease nor
of the leasehold estate created by this Lease with the fee estate in or ownership of any of the Leased Premises by reason of the fact that the same person, corporation, firm or other entity may acquire or hold or own, directly or indirectly,
(a) this Lease or the leasehold estate created by this Lease or any interest in this Lease or in such leasehold estate and (b) the fee estate or ownership of any of the Leased Premises or any interest in such fee estate or ownership. No
such merger shall occur unless and until all persons, corporations, firms and other entities having any interest in (i) this Lease or the leasehold estate created by this Lease and (ii) the fee estate in or ownership of

  
 -30-

 
the Leased Premises or any part thereof sought to be merged shall join in a written instrument effecting such merger and shall duly record the same. 

25.      Definition of Landlord. 

(a)      Anything contained herein to the contrary notwithstanding, any claim based on or
in respect of any liability of Landlord under this Lease shall be enforced only against the Landlord’s interest in the Leased Premises and shall not be enforced against the Landlord individually or personally. 

(b)      The term Landlord as used in this Lease so far as covenants or obligations on the
part of Landlord are concerned, shall be limited to mean and include only the owner or owners of the Leased Premises or holder of the Mortgage in possession at the time in question of the Leased Premises and in the event of any transfer or transfers
of the title of the Leased Premises, the Landlord herein named (and in case of any subsequent transfers or conveyances, the then grantor) shall be automatically freed and relieved from and after the date of such transfer and conveyance of all
personal liability as respects the performance of any covenants or obligations on the part of Landlord contained in this Lease thereafter to be performed. 
 26.      Hazardous Substances. 
 (a)      Tenant agrees that it will not on, about, or under the Leased Premises, make, release, treat or dispose of any hazardous substances as that term is defined in the
Comprehensive Environmental Response, Compensation and Liability Act, and the rules and regulations promulgated pursuant thereto, as from time to time amended, 42 U.S.C. § 9601 et seq. (the “Act”); but the foregoing shall not
prevent the use of any hazardous substances in accordance with applicable Laws and regulations. Tenant represents and warrants that it will at all times comply with the Act and any other federal, state or local Laws, rules or regulations governing
Hazardous Materials. Hazardous Materials as used herein shall mean all mold, mildew, chemicals, petroleum, crude oil or any fraction thereof, hydrocarbons, polychlorinated biphenyls (PCBs), asbestos, asbestos-containing materials and/or products,
urea formaldehyde, or any substances which are classified as hazardous or toxic under the Act; hazardous waste as defined under the Solid Waste Disposal Act, as amended 42 U.S.C. §6901 et seq.; air pollutants regulated under the Clean
Air Act, as amended, 42 U.S.C. §7401, et seq.; pollutants as defined under the Clean Water Act, as amended, 33 U.S.C. §1251, et seq., any pesticide as defined by Federal Insecticide, Fungicide, and Rodenticide Act, as
amended, 7 U.S.C. §136, et seq., any hazardous chemical substance or mixture or imminently hazardous substance or mixture regulated by the Toxic Substances Control Act, as amended, 15 U.S.C. §2601, et Seq., any substance listed in
the United States Department of Transportation Table at 45 CFR l72.101; any chemicals included in regulations promulgated under the above listed statutes; any explosives, radioactive material, and any chemical or other substance regulated by
federal, state or local statutes similar to the federal statutes listed above and regulations promulgated under such federal, state or local statutes. 
 (b)      To the extent required by the Act and/or any federal, state or local Laws, rules or regulations governing Hazardous Materials, Tenant shall remove any hazardous
substances (as defined in the Act) and Hazardous Materials (as defined above) whether now or hereafter existing on the Leased Premises and whether or not arising out of or in any manner connected with Tenant’s occupancy of the Leased Premises
during the Term. In addition to, and without limiting Paragraph 10 of this Lease Tenant shall and hereby does agree to defend, indemnify and hold Lender and Landlord, their officers, directors, shareholders, partners,

  
 -31-

 
beneficial owners, trustees, members, managers and employees, harmless from and against any and all causes of actions, suits, demands or judgments of any nature whatsoever, losses, damages,
penalties, expenses, fees, claims, costs (including response and remedial costs), and liabilities, including, but not limited to, reasonable attorneys’ fees and costs of litigation, arising out of or in any manner connected with (i) the
violation of any applicable federal, state or local environmental Law with respect to the Leased Premises or Tenant’s or any other person’s or entity’s prior ownership of the Leased Premises; (ii) the release or threatened
release of or failure to remove, as required by this Paragraph 26, hazardous substances (as defined in the Act) and Hazardous Materials (as defined above) at or from the Leased Premises or any portion or portions thereof, including any past or
current release and any release or threatened release during the initial term and any extension or Extension Term whether or not arising out of or in any manner connected with Tenant’s occupancy of the Leased Premises during the initial term or
any Extension Term. 
 (c)      The Tenant agrees that it will not install any
underground storage tank at the Leased Premises without specific, prior written approval from the Landlord and Lender. The Tenant agrees that it will not store combustible or flammable materials on the Leased Premises in violation of the Act or any
other federal, state or local Laws, rules or regulations governing Hazardous Materials. 

27.      Entry by Landlord.  Landlord and its authorized representatives
shall have the right upon reasonable notice (which shall be not less than three (3) business days except in the case of emergency) to enter the Leased Premises at all reasonable business hours (and at all other times in the event of an
emergency): (a) for the purpose of inspecting the same or for the purpose of doing any work under Paragraph 11(c), and may take all such action thereon as may be necessary or appropriate for any such purpose (but nothing contained in this Lease
or otherwise shall create or imply any duty upon the part of Landlord to make any such inspection or do any such work), and (b) for the purpose of showing the Leased Premises to prospective purchasers and mortgagees and, at any time within six
(6) months prior to the expiration of the Term of this Lease for the purpose of showing the same to prospective tenants. No such entry shall constitute an eviction of Tenant but any such entry shall be done by Landlord in such reasonable manner
as to minimize any disruption of Tenant’s business operation. 

28.      Statements.  Tenant shall report on its website (so as to be
available to Lender), when filed with the Securities and Exchange Commission, or promptly thereafter, copies of its Forms 10Q and 10K. If Tenant is not a public company, Tenant shall submit to Lender or its designee (a) any financial statements
of Tenant which are provided by Tenant to its lenders, and (b) the annual audited financial report and quarterly audited or unaudited financial reports (only to the extent such quarterly reports are produced by Tenant and provided to any of its
lenders) within one hundred twenty (120) days following the close of each fiscal year (in the case of annual reports) or fiscal quarter (in the case of quarterly reports) of Tenant. 

29.      No Usury.  The intention of the parties being to conform
strictly to the applicable usury laws, whenever any provision herein provides for payment by Tenant to Landlord of interest at a rate in excess of the legal rate permitted to be charged, such rate herein provided to be paid shall be deemed reduced
to such legal rate. 
 30.      Separability.  Each and every
covenant and agreement contained in this Lease is, and shall be construed to be, a separate and independent covenant and agreement, and the breach of any such covenant or agreement by Landlord shall not discharge or relieve Tenant from its
obligation to perform the same. If any term or provision of this Lease or the application 

  
 -32-

 
thereof to any provision of this Lease or the application thereof to any person or circumstances shall to any extent be invalid and unenforceable, the remainder of this Lease, or the application
of such term or provision to person or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and shall be enforced to the extent permitted
by law. 
 31.      Miscellaneous. 

(a)      The paragraph headings in this Lease are used only for convenience in finding the
subject matters and are not part of this Lease or to be used in determining the intent of the parties or otherwise interpreting this Lease. 
 (b)      As used in this Lease the singular shall include the plural as the context requires and the following words and phrases shall have the following meanings:
(i) including shall mean including but not limited to; (ii) provisions shall mean provisions, terms, agreements, covenants and/or conditions; (iii) lien shall mean lien, charge, encumbrance, title retention agreement, pledge, security
interest, mortgage and/or deed of trust; and (iv) obligation shall mean obligation, duty, agreement, liability, covenant or condition. 
 (c)      Any act which Landlord is permitted to perform under this Lease may be performed at any time and from time to time by Landlord or any person or entity designated by
Landlord. Any act which Tenant is required to perform under this Lease shall be performed at Tenant’s sole cost and expense. 
 (d)      This Lease may be modified, amended, discharged or waived only by an agreement in writing signed by the party against whom enforcement of any such modification,
amendment, discharge or waiver is sought. 
 (e)      The covenants of this Lease
shall run with the Land and bind Tenant, the successors and assigns of Tenant and all present and subsequent encumbrancers and subtenants of any of the Leased Premises, and shall inure to the benefit of and bind Landlord, its successors and assigns.

 (f)      This Lease will be simultaneously executed in several counterparts,
each of which when so executed and delivered shall constitute an original, fully enforceable counterpart for all purposes. 
 (g)      This Lease shall be governed by and construed according to the laws of the State in which the Leased Premises is located, without regard to its conflicts of law
rules. 
 (h)      Wherever the consent or approval of Landlord is required
hereunder, Landlord agrees that it will not unreasonably withhold or delay such consent or approval. 

32.      Additional Rent.  The term “Additional Rent” as used
herein includes all amounts, costs, expenses, liabilities and obligations (including but not limited to Tenant’s obligation to pay any Net Awards or Purchase Price hereunder) which Tenant is required to pay pursuant to the terms of this Lease
(other than Basic Rent) as well as every cost, fee, charge, loss or expense including, without limitation, default rate interest incurred by Landlord arising from Tenant’s default hereunder and imposed upon Landlord by Lender. 

33.      Tenant’s Purchase Option. 

  
 -33-

 (a)      Subject to the provisions of
5(b)(iv), Tenant shall have the right to purchase the Leased Premises: 

(i)      as of the tenth (10th) anniversary of the Commencement Date, for the sum of Fifty Seven Million Two Hundred Twenty Thousand Dollars
($57,220,000); and 
 (ii)      at anytime after March 1, 2006, (but prior
to or on December 1, 2015) Tenant shall have the option to purchase the equity investment of Landlord for the applicable sum indicated in Exhibit F opposite the respective periods of the Term shown therein, for the calendar month in which the
Equity Repurchase Closing Date (hereinafter defined) occurs, provided Tenant assumes or defeases the existing Loan. In the case of a defeasance of the Loan, Tenant acknowledges that such right may not be exercised until the earlier to occur of
(i) four (4) years from the first payment date under the Loan or (ii) two (2) years from the date of securitization of the Loan. In the case of an assumption of the Loan, the new landlord entity shall be a single purpose entity
whose formation documents contain Lender’s customary single purpose entity requirements and all of the Lender’s requirements for an assumption of the Loan shall have otherwise been complied with. 

Each such right shall be exercised, if at all, by Tenant’s delivery of written notice to Landlord specifying such
election, on or before December 1, 2015 (“Exercise Notice”). If Tenant fails to timely deliver the Exercise Notice, the rights to purchase the Property set forth in this Paragraph shall be deemed automatically waived without further
act on the part of either party and shall be of no further force and effect. 

(b)      Upon delivery of the Exercise Notice, Tenant shall order a commitment for an ALTA
form B Owner’s Title Insurance policy for the Leased Premises (“Title Commitment”) issued by Chicago Title Insurance Company or such other nationally recognized title company (“Title Company”) and a complete set of
underlying documents indicated in the Title Commitment and deliver a copy of the same to Landlord. Landlord shall deliver to Tenant complete and accurate copies of all leases, easements or other agreements in Landlord’s possession not shown on
the Title Commitment and related to the ownership, operation or management of the Property and its physical condition. At closing, Landlord shall convey the Leased Premises to Tenant by grant deed, subject to all encumbrances existing as of the date
hereof, acts of Tenant, or those claiming by, through or under Tenant, and such other encumbrances shown on the Title Commitment as Tenant may have previously approved or that do not materially interfere with Tenant’s use of the Premises, the
lien of any Taxes, any survey matters not caused by Landlord or those claiming through or under Landlord. Tenant shall pay all costs associated with the conveyance of the Property, including, without limitation, transfer taxes. 

(c)      If Tenant timely delivers the Exercise Notice, Landlord shall convey title to
Tenant on the sixtieth (60th) day thereafter
(“Equity Repurchase Closing Date”) or at any time prior thereto as the parties shall mutually agree. In the case of the right set forth in subparagraph 33 (a) (ii) above, and subject to the express terms and conditions of the
Loan Documents, Tenant shall either defease the loan encumbering the Property, or alternatively, at its sole cost and expense, shall take subject to the existing loan and Mortgage (and shall pay all sums due under the Loan Documents (including,
without limitation, prepayment, yield maintenance, defeasance, assumption or similar fees due Lender thereunder). Notwithstanding the foregoing, Tenant shall not be obligated for sums due Lender if such amounts are caused by the Landlord’s
breach or default to the extent such breach or default is unrelated to Tenant’s non-performance under the 

  
 -34-

 
Lease. If the Equity Repurchase Closing Date is not a day on which banks in Los Angeles, California, are open for business, the next regular business day following the anniversary date as the
aforesaid banks are open for business. The purchase price shall be payable at closing in cash in immediately available funds, deposited not later than 1:00 pm Eastern time. The closing of the transaction shall be conducted through escrow at the
Title Company. Each party shall execute such closing and proration statements as may be required to effectuate the transaction, including, without limitation, ALTA statements, transfer tax declarations, closing statements, gap undertakings,
terminations of property or asset management agreements, and the like. Closing expenses shall be paid by Tenant. 
 34.      Brokerage Fees.  Landlord and Tenant each represent and warrant that with the exception of Julien J. Studley (“Studley”), whose commission
shall be paid by Landlord pursuant to that certain agreement dated July 26, 2004 executed between Studley and Tenant they have not employed a broker in connection with the execution of this lease. Landlord and Tenant shall each indemnify and
hold the other harmless from and against any claim or claims for brokerage or other commissions arising from such party having employed a broker contrary to its representation in this Paragraph 34. 

[SIGNATURES FOLLOW] 

  
 -35-

 IN WITNESS WHEREOF, Landlord and Tenant have caused this instrument to be
executed under seal as of the day and year first above written. 
  

					
	 LANDLORD:

	
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTORS, LLC, a Delaware limited liability company
		
	 By:
	 	Griffin Capital Corporation, sole member
			
		 	 By:
	 	 /s/ Kevin A. Shields

		 		 	 Kevin A. Shields

		 		 	 President

	
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 1, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 2, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 3, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 4, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 5, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 6, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 7, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 8, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 9, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 10, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 11, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 12, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 13, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 14, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 15, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 16, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 17, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 18, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 19, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 20, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 21, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 22, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 23, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 24, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 25, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 26, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 27, LLC,
	GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 28, LLC,
	 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 29, LLC,
 each a Delaware limited liability company

		
	 By:
	 	 Griffin Capital Corporation, its special manager

			
		 	 By:
	 	 /s/ Kevin A. Shields

		 		 	 Kevin A. Shields

		 		 	 President

					
			
	TENANT:	 		 	

					
	
	INVITROGEN CORPORATION, a Delaware corporation
		
	By:	 	/s/ David T. Hoffmeister
			
		 	Its:	 	Chief Financial Officer
		 		 	      Tenant

  
 -36-

 EXHIBIT B 

Number of Consecutive Extension Terms: Two (2) 

Duration of each Extension Term: Eight (8) Years 

 
  

Base Rent Schedule 
  

																					
	 Year
	  	Beginning
Month	  	Ending
Month	  	Percent
Increase	 	  	Base
Rent	 	  	Rent/
Month	 	  	Rent/PSF/
Month	 
	 1
	  	1	  	12	  				  	$	3,700,000	  	  	$	308,333.33	  	  	 	0.9382	  
	 2
	  	13	  	24	  	 	1.50%	  	  	 	3,755,500	  	  	 	312,958.33	  	  	 	0.9522	  
	 3
	  	25	  	36	  	 	1.50%	  	  	 	3,811,900	  	  	 	317,658.33	  	  	 	0.9665	  
	 4
	  	37	  	48	  	 	1.75%	  	  	 	3,878,700	  	  	 	323,225.00	  	  	 	0.9835	  
	 5
	  	49	  	60	  	 	1.75%	  	  	 	3,946,600	  	  	 	328,883.33	  	  	 	1.0007	  
	 6
	  	61	  	72	  	 	2.00%	  	  	 	4,025,600	  	  	 	335,466.67	  	  	 	1.0207	  
	 7
	  	73	  	84	  	 	2.00%	  	  	 	4,106,200	  	  	 	342,183.33	  	  	 	1.0412	  
	 8
	  	85	  	96	  	 	2.25%	  	  	 	4,198,600	  	  	 	349,883.33	  	  	 	1.0646	  
	 9
	  	97	  	108	  	 	2.25%	  	  	 	4,293,100	  	  	 	357,758.33	  	  	 	1.0886	  
	 10
	  	109	  	120	  	 	2.50%	  	  	 	4,400,500	  	  	 	366,708.33	  	  	 	1.1158	  
	 11
	  	121	  	132	  	 	2.50%	  	  	 	4,510,600	  	  	 	375,883.33	  	  	 	1.1437	  
	 12
	  	133	  	144	  	 	2.50%	  	  	 	4,623,400	  	  	 	385,283.33	  	  	 	1.1723	  
	 13
	  	145	  	156	  	 	2.50%	  	  	 	4,739,000	  	  	 	394,916.67	  	  	 	1.2016	  
	 14
	  	157	  	168	  	 	2.50%	  	  	 	4,857,500	  	  	 	404,791.67	  	  	 	1.2317	  
	 15
	  	169	  	180	  	 	2.50%	  	  	 	4,979,000	  	  	 	414,916.67	  	  	 	1.2625	  
	 16
	  	181	  	192	  	 	2.50%	  	  	 	5,103,500	  	  	 	425,291.67	  	  	 	1.2940	  
	 17
	  	193	  	195	  	 	2.50%	  	  	 	5,231,100	  	  	 	435,925.00	  	  	 	1.3264	  

 Basic
Rent During Extension Terms: In the event the applicable Extension Term is exercised in a timely fashion, the Lease shall be extended for the term of the applicable Extension Term upon all of the terms and conditions of this Lease, provided that the
annual Basic Rent for the Leased Premises for each Extension Term shall be the Fair Market Rent, as hereinafter defined “Fair Market Rent” as used herein, shall mean the market rental rate for base rent for a comparable tenant with
comparable space in comparable buildings in a comparable market, as agreed upon between Landlord and Tenant within thirty (30) days of Tenant’s notice of exercise of the option described. All other terms and conditions of the Lease set
forth herein shall remain the same. For purposes of determining the Fair Market Rent, “comparable space” shall mean mixed use office and industrial space, without regard to improvements installed by Tenant at its sole cost and expense,
which are specific to its specialized business operations at the Leased Premises. (In furtherance of the foregoing, it is the intent of the parties, in determining the Fair Market Rent, to exclude Tenant’s improvements which are not reusable as
general office improvements). “Comparable building”, as used herein, will mean any industrial 

 
building greater than 100,000 square feet. “Comparable market”, as used herein, will mean either or both of San Diego County or North San Diego County (it being the intent of the
parties that the following submarkets are specifically included: Carlsbad, Vista, San Marcos, Oceanside, Solana Beach, Del Mar, Sorrento Mesa and Sorrento Valley). 

Fair Market Rent shall be determined in the following manner: 

 

	 	(a)	 Mutual Agreement. After timely receipt by Landlord of Tenant’s notice of exercise of the option to extend the Term, Landlord and Tenant shall
have a period of thirty (30) days in which to agree on the Fair Market Rent for the Premises. 

  

	 	(b)	 Arbitration. (1) If Landlord and Tenant are unable to agree upon the Fair Market Rent within thirty (30) days following Tenant’s
exercise of the option, then the determination of Fair Market Rent shall proceed to arbitration. The arbitration procedure shall commence when either party submits the matter to arbitration. Not later than ten (10) days after the arbitration
procedure has commenced, each party shall appoint an arbitrator and notify the other party of such appointment by identifying the appointee. Each party hereto agrees to select as its respective appointee a licensed real estate broker, who is an
individual of substantial experience with respect to industrial and commercial real property in the San Diego County area, which person shall not be regularly employed or have been retained during the last two (2) years as a consultant by the
party selecting such person, and shall have not less than five (5) years experience. Neither party may consult directly or indirectly with any arbitrator regarding the Fair Market Rent prior to appointment, or after appointment, outside the
presence of the other party. The arbitration shall be conducted in San Diego, California, under the provisions of the commercial arbitration rules of the American Arbitration Association and applicable California law governing arbitration.

 (2) Not later than ten (10) days after both arbitrators are appointed, each party
shall separately, but simultaneously, submit in a sealed envelope to each arbitrator their separate suggested Fair Market Rent rental rate and shall provide a copy of such submission to the other party. The two (2) selected arbitrators, after
reviewing such submissions, shall determine whether Landlord’s or Tenant’s estimate of the Fair Market Rent is closer to the actual market rental rate of the Premises. If both arbitrators agree that one of said declared estimates is closer
to the actual market rental rate, they shall declare that estimate to be the Fair Market Rent, and their decision shall be final and binding upon the parties. 

 (3) If the two selected arbitrators are unable to agree on the Fair Market
Rent within thirty (30) days after receipt of Landlord’s and Tenant’s submitted estimates, then the arbitrators shall inform the parties. Unless the parties shall both otherwise then direct, said arbitrators shall select a third
arbitrator, not later than ten (10) days after the expiration of said thirty (30) day period. If no arbitrator is selected within such ten (10) day period, either party may immediately petition a court with appropriate jurisdiction to
appoint such third arbitrator. The third arbitrator shall have the qualifications and restrictions set forth in paragraph (b) (1) above, and shall conduct an arbitration pursuant to the commercial arbitration rules of the American
Arbitration Association. The third arbitrator’s decision shall be final and binding as to which estimate (as between Landlord’s and Tenant’s) of the Fair Market Rent is closer to the actual market rental rate. Such third arbitrator
shall make a decision not later than thirty (30) days after appointment. 
 (4) Each party shall be
responsible for the costs, charges and/or fees of its respective appointee and the parties shall share equally in the costs, charges and/or fees of the third arbitrator. The decision of the arbitrator(s) may be entered in any court having
jurisdiction thereof. 
 Upon determination of the Fair Market Rent pursuant to provisions of this Paragraph
Landlord and Tenant shall amend this Lease to reflect the new Basic Rent.Fixed Rate Note

 Exhibit 10.5 
 Loan No. V_52173 
 FIXED RATE NOTE 

 

			
	 $37,000,000.00
	  	February 10, 2006

 FOR VALUE RECEIVED, those entities listed on Exhibit A attached hereto and made a part hereof, having an address at c/o Griffin Capital Corporation, 2321 Rosecrans Avenue, Suite 3290, El Segundo,
California 90245 (such entities are hereafter referred to as, individually, a “Borrower” and collectively, the “Borrower,” as the context may require, provided, however, that the context shall always be one which affords the
Lender the broadest possible rights and remedies under the Loan Documents and which permits Lender, in its discretion, to enforce the obligations and liabilities hereunder against one or more of the entities comprising the Borrower), each jointly
and severally promise to pay to the order of JPMORGAN CHASE BANK, N.A., a banking association chartered under the laws of the United States of America, its successors and assigns (hereinafter referred to as “Lender”), at the office of
Lender or its agent, designee, or assignee at 270 Park Avenue, New York, New York 10017, Attention: Loan Servicing, or at such place as Lender or its agent, designee, or assignee may from time to time designate in writing, the principal sum of
THIRTY SEVEN MILLION AND NO/100 DOLLARS ($37,000,000.00), in lawful money of the United States of America, with interest thereon to be computed on the unpaid principal balance from time to time outstanding at the Applicable Interest Rate
(hereinafter defined) at all times prior to the occurrence of an Event of Default (as defined in the Security Instrument [hereinafter defined]), and to be paid in installments as set forth below. Unless otherwise herein defined, all initially
capitalized terms shall have the meanings given such terms in the Security Instrument. 
 1.  PAYMENT TERMS

 Principal and interest due under this Note shall be paid as follows: 

(a)        A payment of interest only on the date hereof for the period from the
date hereof through February 28, 2006, both inclusive; and 

(b)        A constant payment of $217,098.62, on the first day of April, 2006 and
on the first day of each calendar month thereafter, up to and including the first day of February, 2016; 
 with payments under
this Note to be applied as follows: 
 (i) First, to the payment of interest and other costs and
charges due in connection with this Note or the Debt, as Lender may determine in its sole discretion; and 
 (ii) The balance shall be applied toward the reduction of the principal sum; 
 and
the balance of said principal sum, together with accrued and unpaid interest and any other amounts due under this Note shall be due and payable on the first day of March, 2016 or upon 

 
earlier maturity hereof whether by acceleration or otherwise (the “Maturity Date”). Interest on the principal sum of this Note shall be calculated on the basis of a three hundred sixty
(360) day year and paid for the actual number of days elapsed. All amounts due under this Note shall be payable without setoff, counterclaim or any other deduction whatsoever. 

2.  INTEREST 
 The term “Applicable Interest Rate” means from the date of this Note through and including the Maturity Date, a rate of five and 80/100 percent (5.80%) per annum. 

3.  SECURITY 
 This Note is secured by, and Lender is entitled to the benefits of, the Security Instrument, the Assignment, the Environmental Agreement, and the other Loan Documents (hereinafter defined). The term
“Security Instrument” means the Deed of Trust, Security Agreement and Fixture Filing dated the date hereof given by Borrower for the use and benefit of Lender covering the estate of Borrower in certain premises as more particularly
described therein (which premises, together with all properties, rights, titles, estates and interests now or hereafter securing the Debt and/or other obligations of Borrower under the Loan Documents, are collectively referred to herein as the
“Property”). The term “Assignment” means the Assignment of Leases and Rents of even date herewith executed by Borrower in favor of Lender. The term “Environmental Agreement” means the Environmental
Indemnity Agreement of even date herewith executed by Borrower in favor of Lender. The term “Loan Documents” refers collectively to this Note, the Security Instrument, the Assignment, the Environmental Agreement, and any and all
other documents executed in connection with this Note or now or hereafter executed by Borrower and/or others and by or in favor of Lender, which wholly or partially secure or guarantee payment of this Note or pertains to indebtedness evidenced by
this Note. 
 4.  LATE FEE 

If any installment payable under this Note (including the final installment due on the Maturity Date) is not received by
Lender prior to the tenth (10th) calendar day after
the same is due (without regard to any applicable cure and/or notice period), Borrower shall pay to Lender upon demand an amount equal to the lesser of (a) five percent (5%) of such unpaid sum or (b) the maximum amount permitted by
applicable law to defray the expenses incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment, and such amount shall be secured by the Loan Documents.

 5.  DEFAULT AND ACCELERATION 

So long as an Event of Default exists, Lender may, at its option, without notice or demand to Borrower, declare the Debt
immediately due and payable. All remedies hereunder, under the Loan Documents and at law or in equity shall be cumulative. In the event that it should become necessary to employ counsel to collect the Debt or to protect or foreclose the security for
the Debt or to defend against any claims asserted by Borrower arising from or related to the Loan Documents, Borrower also agrees to pay to Lender on demand all costs of collection 

 
or defense incurred by Lender, including reasonable attorneys’ fees for the services of counsel whether or not suit be brought. 

6.  DEFAULT INTEREST 
 Upon the occurrence of an Event of Default Borrower shall pay interest on the entire unpaid principal sum and any other amounts due under the Loan Documents at the rate equal to the lesser of (a) the
maximum rate permitted by applicable law, or (b) the greater of (i) five percent (5%) above the Applicable Interest Rate or (ii) five percent (5%) above the Prime Rate (hereinafter defined), in effect at the time of the
occurrence of the Event of Default (the “Default Rate”). The term “Prime Rate” means the prime rate reported in the Money Rates section of The Wall Street Journal. In the event that The Wall Street Journal
should cease or temporarily interrupt publication, the term “Prime Rate” shall mean the daily average prime rate published in another business newspaper, or business section of a newspaper, of national standing and general
circulation chosen by Lender. In the event that a prime rate is no longer generally published or is limited, regulated or administered by a governmental or quasi-governmental body, then Lender shall select a comparable interest rate index which is
readily available and verifiable to Borrower but is beyond Lender’s control. The Default Rate shall be computed from the occurrence of the Event of Default until the actual receipt and collection of a sum of money determined by Lender to be
sufficient to cure the Event of Default. Amounts of interest accrued at the Default Rate shall constitute a portion of the Debt, and shall be deemed secured by the Loan Documents. This clause, however, shall not be construed as an agreement or
privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default. 
 7.  PREPAYMENT 

(a)        The principal balance of this Note may not be prepaid in whole or in
part (except with respect to the application of casualty or condemnation proceeds) prior to the Maturity Date. If following the occurrence of any Event of Default, Borrower shall tender payment to Lender or Lender shall receive proceeds (whether
through foreclosure or the exercise of the other remedies available to Lender under the Security Instrument or the other Loan Documents), Borrower shall pay in addition to interest accrued and unpaid on the principal balance of this Note and all
other sums then due under this Note and the other Loan Documents a prepayment consideration in an amount equal to the greater of (A) one percent (1%) of the outstanding principal balance of this Note at the time such payment or proceeds
are received, or (B) (x) the present value as of the date such payment or proceeds are received of the remaining scheduled payments of principal and interest from the date such payment or proceeds are received through the Maturity Date
(including any balloon payment) determined by discounting such payments at the Discount Rate (as hereinafter defined), less (y) the amount of the payment or proceeds received. The term “Discount Rate” means the rate which, when
compounded monthly, is equivalent to the Treasury Rate (as hereinafter defined), when compounded semi-annually. The term “Treasury Rate” means the yield calculated by the linear interpolation of the yields, as reported in Federal
Reserve Statistical Release H.15-Selected Interest Rates under the heading “U.S. Government Securities/Treasury Constant Maturities” for the week ending prior to the date the payment or such proceeds are received, of U.S. Treasury constant
maturities with maturity dates (one longer and one shorter) most nearly approximating the Maturity Date. (In the event Release H.15 is no 

 
longer published, Lender shall select a comparable publication to determine the Treasury Rate.) Lender shall notify Borrower of the amount and the basis of determination of the required
prepayment consideration, which shall be conclusive except in the case of manifest error. Notwithstanding the foregoing, Borrower shall have the additional privilege to prepay the entire principal balance of this Note (together with any other sums
constituting the Debt) on any scheduled payment date occurring on or after that date which is three (3) months preceding the Maturity Date without any fee or consideration for such privilege. Except as otherwise expressly provided in subsection
(b) below, the prepayment fees provided above shall be due, to the extent permitted by applicable law, under any and all circumstances where all or any portion of this Note is paid prior to the scheduled payment date which is three
(3) months prior to the Maturity Date, even if such prepayment results from Lender’s exercise of its rights upon Borrower’s default and acceleration of this Note (irrespective of whether foreclosure proceedings have been commenced),
and shall be in addition to any other sums due hereunder or under any of the other Loan Documents. Borrower acknowledges that, in establishing the Applicable Interest Rate, Lender has assumed and taken into account the fact that the loan evidenced
hereby will not be prepaid (other than at the times, and on the terms, herein provided) and that there will be no prohibited transfer of the Property or any other event which would cause Lender to accelerate this Note. The foregoing provisions
relating to Borrower’s payment of a premium in the event of an acceleration are intended to compensate Lender in the event that this assumption proves to be incorrect. No tender of a prepayment of this Note with respect to which a prepayment
fee is due shall be effective unless such prepayment is accompanied by the prepayment fee. If Lender exercises its option to declare the entire unpaid principal balance due and payable and/or causes to be recorded a notice of default in accordance
with Section 2924 of the California Civil Code (or any comparable statute of law) following the occurrence of a default, there shall be due and payable (in the absence of reinstatement in accordance with Section 2924c of the California
Civil Code or any comparable statute of law), in addition to the unpaid principal balance accrued interest and any other sums due hereunder or under any of the other Loan Documents, a prepayment fee computed as provided in subsection (a) above.

 Please initial
                            X             
                   . 

Griffin Capital (Carlsbad Pointe) Investors, LLC, Griffin Capital (Carlsbad Pointe) Investor 1, LLC, Griffin Capital (Carlsbad Pointe)
Investor 2, LLC, Griffin Capital (Carlsbad Pointe) Investor 3, LLC, Griffin Capital (Carlsbad Pointe) Investor 4, LLC, Griffin Capital (Carlsbad Pointe) Investor 5, LLC, Griffin Capital (Carlsbad Pointe) Investor 6, LLC, Griffin Capital (Carlsbad
Pointe) Investor 7, LLC, Griffin Capital (Carlsbad Pointe) Investor 8, LLC, Griffin Capital (Carlsbad Pointe) Investor 9, LLC, Griffin Capital (Carlsbad Pointe) Investor 10, LLC, Griffin Capital (Carlsbad Pointe) Investor 11, LLC, Griffin Capital
(Carlsbad Pointe) Investor 12, LLC, Griffin Capital (Carlsbad Pointe) Investor 13, LLC, Griffin Capital (Carlsbad Pointe) Investor 14, LLC, Griffin Capital (Carlsbad Pointe) Investor 15, LLC, Griffin Capital (Carlsbad Pointe) Investor 16, LLC,
Griffin Capital (Carlsbad Pointe) Investor 17, LLC, Griffin Capital (Carlsbad Pointe) Investor 18, LLC, Griffin Capital (Carlsbad Pointe) Investor 19, LLC, Griffin Capital (Carlsbad Pointe) Investor 20, LLC, Griffin Capital (Carlsbad Pointe)
Investor 21, LLC, Griffin Capital (Carlsbad Pointe) Investor 22, LLC, Griffin Capital (Carlsbad Pointe) Investor 23, LLC, Griffin Capital (Carlsbad Pointe) Investor 24, LLC, Griffin Capital (Carlsbad Pointe) Investor 25, LLC, Griffin Capital
(Carlsbad Pointe) Investor 26, LLC, Griffin Capital (Carlsbad Pointe) Investor 27, LLC, Griffin Capital (Carlsbad Pointe) Investor 28, LLC, Griffin Capital (Carlsbad Pointe) Investor 29, LLC 

 (b)        If the prepayment results
from the application to the Debt of the casualty or condemnation proceeds from the Property, no prepayment consideration will be imposed. Partial prepayments of principal resulting from the application of casualty or condemnation proceeds to the
Debt shall not change the amounts of subsequent monthly installments nor change the dates on which such installments are due, unless Lender shall otherwise agree in writing. 

(c)        (i)        Notwithstanding any
provision of this Section 7 to the contrary, at any time after the earlier of (1) the date which is two years after the “startup day,” within the meaning of Section 860G(a)(9) of the Internal Revenue Code of 1986, as amended
from time to time or any successor statute (the “Code”), of a “real estate mortgage investment conduit,” within the meaning of Section 860D of the Code, that holds this Note, and (2) a regularly scheduled payment date
on or after that date which is four (4) years after the date of the first monthly payment due under Section 1(b), and provided no Event of Default (or any event which with the passage of time or the giving of notice, or both, could become
an Event of Default) has occurred under the Security Instrument or under any of the Loan Documents, Borrower may cause the release of the Property (in whole but not in part) from the lien of the Security Instrument and the other Loan Documents upon
the satisfaction of the following conditions precedent: 

(A)        not less than sixty (60) days prior written notice to Lender
specifying a regularly scheduled payment date (the “Release Date”) on which the Defeasance Deposit (hereinafter defined) is to be made; 
 (B)        the payment to Lender of interest accrued and unpaid on the principal balance of this Note to and including the Release Date; 

(C)        the payment to Lender of all other sums, not including scheduled
interest or principal payments, then due under this Note, the Security Instrument and the other Loan Documents; 
 (D)        the payment to Lender of the Defeasance Deposit; and 
 (E)        the delivery to Lender of: 
  (1)        a security agreement, in form and substance satisfactory to Lender, creating a first priority lien on the Defeasance Deposit and the U.S.
Obligations (hereinafter defined) purchased on behalf of Borrower with the Defeasance Deposit in accordance with this subparagraph (the “Security Agreement”); 

 (2)        a release of the Property from the lien of the
Security Instrument (for execution by Lender) in a form appropriate for the jurisdiction in which the Property is located; 
  (3)        an officer’s certificate of Borrower certifying that the requirements set forth in this subparagraph (i) have been satisfied; 

  (4)        an
opinion of counsel for Borrower in form satisfactory to Lender stating, among other things, that defeasance of this Note will not cause any adverse consequences to any REMIC holding the Loan or the holders of any securities issued by the REMIC or
result in a taxation of the income from the Loan to such REMIC or cause a loss of REMIC status, and that Lender has a perfected first priority security interest in the Defeasance Deposit and the U.S. Obligations purchased by Lender on behalf of
Borrower; 
  (5)        an opinion of a certified
public accountant acceptable to Lender to the effect that the Defeasance Deposit is adequate to provide payment on or prior to, but as close as possible to, all successive scheduled payment dates after the Release Date upon which interest and
principal payments are required under this Note (including the amounts due on the Maturity Date) and in amounts equal to the scheduled payments due on such dates under this Note; 

 (6)        evidence in writing from the applicable Rating
Agencies to the effect that such release will not result in a re-qualification, reduction or withdrawal of any rating in effect immediately prior to such defeasance for any Securities; 

 (7)        payment of all of Lender’s expenses
incurred in connection with the defeasance including, without limitation, reasonable attorneys fees; and 
  (8)        such other certificates, documents or instruments as Lender may reasonably request. 

In connection with the conditions set forth in subsection (c)(i)(E) above, Borrower hereby appoints Lender as its agent
and attorney-in-fact for the purpose of using the Defeasance Deposit to purchase U.S. Obligations which provide payment on or prior to, but as close as possible to, all successive scheduled payment dates after the Release Date upon which interest
and principal payments are required under this Note (including the amounts due on the Maturity Date) and in amounts equal to the scheduled payments due on such dates under this Note (the “Scheduled Defeasance Payments”). Borrower,
pursuant to the Security Agreement or other appropriate document, shall authorize and direct that the payments received from the U.S. Obligations may be made directly to Lender and applied to satisfy the obligations of the Borrower under this Note.

 (ii) Upon compliance with the requirements of this subsection (c), the Property shall be
released from the lien of the Security Instrument and the pledged U.S. Obligations shall be the sole source of collateral securing this Note. Any portion of the Defeasance Deposit in excess of the amount necessary to purchase the U.S. Obligations
required by subparagraph (c)(i) above and satisfy the Borrower’s obligations under this subsection (c) shall be remitted to the Borrower with the release of the Property from the lien of the Security Instrument. 

 (iii) For purposes of this subsection (c), the following
terms shall have the following meanings: 

(A)        The term “Defeasance Deposit” shall
mean an amount equal to 100% of the remaining principal amount of this Note, the Yield Maintenance Premium, any costs and expenses incurred or to be incurred in the purchase of the U.S. Obligations necessary to meet the Scheduled Defeasance Payments
and any revenue, documentary stamp or intangible taxes or any other tax or charge due in connection with the transfer of this Note or otherwise required to accomplish the agreements of this subsection; 

(B)        The term “Yield Maintenance Premium”
shall mean the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and 

(C)        The term “U.S. Obligations” shall
mean direct non-callable obligations of the United States of America. 
 (iv) Upon the release
of the Property in accordance with this subsection (c), Borrower shall, at Lender’s request, assign all its obligations and rights under this Note, together with the pledged Defeasance Deposit, to a successor special purpose entity designated
by Borrower and approved by Lender in its sole discretion. Such successor entity shall execute an assumption agreement in form and substance satisfactory to Lender in its sole discretion pursuant to which it shall assume Borrower’s obligations
under this Note and the Security Agreement. In connection with such assignment and assumption, Borrower shall (x) deliver to Lender an opinion of counsel in form and substance and delivered by counsel satisfactory to Lender in its sole
discretion stating, among other things, that such assumption agreement is enforceable against Borrower and such successor entity in accordance with its terms and that this Note, the Security Agreement and the other Loan Documents, as so assumed, are
enforceable against such successor entity in accordance with their respective terms, and (y) pay all costs and expenses incurred by Lender or its agents in connection with such assignment and assumption (including, without limitation, the
review of the proposed transferee and the preparation of the assumption agreement and related documentation). In connection with such assignment and assumption, Borrower and any Guarantor may be released of personal liability under the Note and the
other Loan Documents, but only as to acts or events occurring after the closing of such assignment and assumption. 
 (v) Upon the release of the Property in accordance with this subsection (c), Borrower shall have no further right to prepay this Note pursuant to the other provisions of this Section 7 or otherwise.

 8.  SAVINGS CLAUSE 
 This Note is subject to the express condition that at no time shall Borrower be obligated or required to pay interest on the principal balance due hereunder at a rate which could subject

 
Lender to either civil or criminal liability as a result of being in excess of the maximum interest rate which Borrower is permitted by applicable law to contract or agree to pay. If by the terms
of this Note, Borrower is at any time required or obligated to pay interest on the principal balance due hereunder at a rate in excess of such maximum rate, the Applicable Interest Rate or the Default Rate, as the case may be, shall be deemed to be
immediately reduced to such maximum rate and all previous payments in excess of the maximum rate shall be deemed to have been payments in reduction of principal and not on account of the interest due hereunder. All sums paid or agreed to be paid to
Lender for the use, forbearance, or detention of the Debt, shall, to the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term of this Note until payment in full so that the rate or amount
of interest on account of the Debt does not exceed the maximum lawful rate of interest from time to time in effect and applicable to the Debt for so long as the Debt is outstanding. Notwithstanding anything to the contrary contained herein or in any
of the other Loan Documents, it is not the intention of Lender to accelerate the maturity of any interest that has not accrued at the time of such acceleration or to collect unearned interest at the time of such acceleration. 

9.  WAIVERS 
 (a)        Except as specifically provided in the Loan Documents, Borrower and any endorsers, sureties or guarantors hereof jointly and severally waive presentment
and demand for payment, notice of intent to accelerate maturity, notice of acceleration of maturity, protest and notice of protest and non-payment, all applicable exemption rights, valuation and appraisement, notice of demand, and all other notices
in connection with the delivery, acceptance, performance, default or enforcement of the payment of this Note and the bringing of suit and diligence in taking any action to collect any sums owing hereunder or in proceeding against any of the rights
and collateral securing payment hereof. Borrower and any surety, endorser or guarantor hereof agree (i) that the time for any payments hereunder may be extended from time to time without notice and consent, (ii) to the acceptance by Lender
of further collateral, (iii) the release by Lender of any existing collateral for the payment of this Note, (iv) to any and all renewals, waivers or modifications that may be granted by Lender with respect to the payment or other
provisions of this Note, and/or (v) that additional Borrowers, endorsers, guarantors or sureties may become parties hereto all without notice to them and without in any manner affecting their liability under or with respect to this Note. No
extension of time for the payment of this Note or any installment hereof shall affect the liability of Borrower under this Note or any endorser or guarantor hereof even though the Borrower or such endorser or guarantor is not a party to such
agreement. 
 (b)        Failure of Lender to exercise any of the
options granted herein to Lender upon the happening of one or more of the events giving rise to such options shall not constitute a waiver of the right to exercise the same or any other option at any subsequent time in respect to the same or any
other event. The acceptance by Lender of any payment hereunder that is less than payment in full of all amounts due and payable at the time of such payment shall not constitute a waiver of the right to exercise any of the options granted herein to
Lender at that time or at any subsequent time or nullify any prior exercise of any such option without the express written acknowledgment of the Lender. 

 10.  EXCULPATION 

(a)        Notwithstanding anything in the Loan Documents to the contrary, but
subject to the qualifications below, Lender and Borrower agree that: 
 (i) Borrower shall be
liable upon the Debt and for the other obligations arising under the Loan Documents to the full extent (but only to the extent) of the security therefor; provided, however, that in the event (A) of fraud, willful misconduct or material
misrepresentation by Borrower, its general partners, if any, its principals, its affiliates, its agents or by any Guarantor in connection with the loan evidenced by this Note, (B) of a breach or default under Sections 4.3 or 8.3 of the Security
Instrument, (C) the Property or any part thereof becomes an asset in a voluntary bankruptcy or insolvency proceeding, (D) the involuntary bankruptcy of a Borrower if such Borrower and its respective Guarantors are not using their best
efforts to obtain dismissal of the bankruptcy proceeding or the involuntary bankruptcy of a Borrower which is instituted by another Borrower, (E) the filing by Borrower, its general partners, if any, its managing member, if any, its principal
or its Guarantors, or any trustee of any Borrower of any action to partition all or any portion of the Property or any action to compel any sale thereof, or (F) without Lender’s prior consent, the removal or resignation of any
Borrower’s general partner, managing member, non-member manager, or designated manager or managing agent with respect to all operating matters including, but not limited to, management and operation of the Property, leasing decisions, tenant
improvements, capital improvements and other issues, opening bank accounts for the Borrower with respect to the Property, decisions as to amount and timing of distributions to the Borrower and handling disputes with tax or other governmental
authorities for the Property, the limitation on recourse set forth in this Subsection 10(a) will be null and void and completely inapplicable, and this Note shall be with full recourse to Borrower. 

(ii) If a default occurs in the timely and proper payment of all or any part of the Debt, Lender shall
not enforce the liability and obligation of Borrower to perform and observe the obligations contained in this Note or the Security Instrument by any action or proceeding wherein a money judgment shall be sought against Borrower, except that Lender
may bring a foreclosure action, action for specific performance or other appropriate action or proceeding to enable Lender to enforce and realize upon the Security Instrument, the Other Loan Documents and the interest in the Property, the Rents and
any other collateral given to Lender created by the Security Instrument and the Other Loan Documents; provided, however, that any judgment in any action or proceeding shall be enforceable against Borrower only to the extent of Borrower’s
interest in the Property, in the Rents and in any other collateral given to Lender. Lender, by accepting this Note and the Security Instrument, agrees that it shall not, except as otherwise herein provided, sue for, seek or demand any deficiency
judgment against Borrower in any action or proceeding, under or by reason of or under or in connection with this Note, the Other Loan Documents or the Security Instrument. 

(iii) The provisions of this Subsection 10(a) shall not (A) constitute a waiver, release or
impairment of any obligation evidenced or secured by this Note, the Other Loan Documents or the Security Instrument; (B) impair the right of Lender to name 

 
Borrower as a party defendant in any action or suit for judicial foreclosure and sale under the Security Instrument; (C) affect the validity or enforceability of any indemnity, guaranty,
master lease or similar instrument made in connection with this Note, the Security Instrument, or the Other Loan Documents; (D) impair the right of Lender to obtain the appointment of a receiver; (E) impair the enforcement of the
Assignment executed in connection herewith; (F) impair the right of Lender to enforce the provisions of Article 11 of the Security Instrument; or (G) impair the right of Lender to obtain a deficiency judgment or judgment on this Note
against Borrower if necessary to obtain any insurance proceeds or condemnation awards to which Lender would otherwise be entitled under the Security Instrument; provided, however, Lender shall only enforce such judgment against the insurance
proceeds and/or condemnation awards. 
 (iv) Notwithstanding the provisions of this Article to
the contrary, Borrower shall be personally liable to Lender for the Losses it incurs due to: (A) the misapplication or misappropriation of Rents; (B) the misapplication or misappropriation of insurance proceeds or condemnation awards;
(C) Borrower’s failure to return or to reimburse Lender for all Personal Property taken from the Property by or on behalf of Borrower and not replaced with Personal Property of the same utility and of the same or greater value;
(D) any act of actual waste or arson by Borrower, any principal, affiliate, general partner or member thereof or by any Guarantor; (E) any fees or commissions paid by Borrower to any principal, affiliate, general partner or member of
Borrower, or any Guarantor in violation of the terms of this Note, the Security Instrument or the Other Loan Documents; (F) Borrower’s failure to comply with the provisions of Section 11 of the Security Instrument; or (G) for all
obligations and indemnities of Borrower under the Environmental Indemnity Agreement (it being agreed that the obligations of the borrower under the Environmental Agreement are not limited by Section 10(a) hereof) relating to hazardous or toxic
substances or compliance with environmental laws and regulations to the full extent of any losses or damages (including those resulting from diminution in value of the Property) incurred by Lender as a result of the existence of such hazardous or
toxic substances or failure to comply with environmental laws or regulations. 

(b)        Nothing herein shall be deemed to be a waiver of any right which
Lender may have under Sections 506(a), 506(b), 1111(b) or any other provisions of the Bankruptcy Code to file a claim for the full amount of the Debt or to require that all collateral shall continue to secure all of the Debt, owing to Lender in
accordance with this Note, the Security Instrument and the Other Loan Documents. 
 11.  AUTHORITY 

Borrower (and the undersigned representative of Borrower, if any) represents that Borrower has full power, authority and
legal right to execute, deliver and perform its obligations pursuant to this Note and the other Loan Documents and that this Note and the other Loan Documents constitute legal, valid and binding obligations of Borrower. Borrower further represents
that the loan evidenced by the Loan Documents was made for business or commercial purposes and not for personal, family or household use. 

 12.  NOTICES 

All notices or other communications required or permitted to be given pursuant hereto shall be given in the manner and be
effective as specified in the Security Instrument, directed to the parties at their respective addresses as provided therein. 

13.  TRANSFER 
 Lender shall have the unrestricted right at any time or from time to time to sell this Note and the loan evidenced by this Note and the Loan Documents or participation interests therein. Borrower, at no
cost to Borrower, shall execute, acknowledge and deliver any and all instruments requested by Lender to satisfy such purchasers or participants that the unpaid indebtedness evidenced by this Note is outstanding upon the terms and provisions set out
in this Note and the other Loan Documents. To the extent, if any, specified in such assignment or participation, such assignee(s) or participant(s) shall have the rights and benefits with respect to this Note and the other Loan Documents as such
assignee(s) or participant(s) would have if they were the Lender hereunder. If Lender sells a participation interest in this Note, Lender shall specify one (1) party as the sole contact with Borrower with respect to the Note and the Other Loan
Documents and upon whose direction Borrower may rely. 
 14.  WAIVER OF TRIAL BY JURY 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE
TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS NOTE OR THE OTHER LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN
CONNECTION THEREWITH INCLUDING, BUT NOT LIMITED TO, THOSE RELATING TO (A) ALLEGATIONS THAT A PARTNERSHIP EXISTS BETWEEN LENDER AND BORROWER; (B) USURY OR PENALTIES OR DAMAGES THEREFOR; (C) ALLEGATIONS OF UNCONSCIONABLE ACTS, DECEPTIVE
TRADE PRACTICE, LACK OF GOOD FAITH OR FAIR DEALING, LACK OF COMMERCIAL REASONABLENESS, OR SPECIAL RELATIONSHIPS (SUCH AS FIDUCIARY, TRUST OR CONFIDENTIAL RELATIONSHIP); (D) ALLEGATIONS OF DOMINION, CONTROL, ALTER EGO, INSTRUMENTALITY, FRAUD,
REAL ESTATE FRAUD, MISREPRESENTATION, DURESS, COERCION, UNDUE INFLUENCE, INTERFERENCE OR NEGLIGENCE; (E) ALLEGATIONS OF TORTIOUS INTERFERENCE WITH PRESENT OR PROSPECTIVE BUSINESS RELATIONSHIPS OR OF ANTITRUST; OR (F) SLANDER, LIBEL OR
DAMAGE TO REPUTATION. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE.
LENDER IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY BORROWER. 

 15.  APPLICABLE LAW 

This Note shall be governed by and construed in accordance with the laws of the state in which the real property
encumbered by the Security Instrument is located (without regard to any conflict of laws or principles) and the applicable laws of the United States of America. 
 16.  JURISDICTION 
 BORROWER HEREBY IRREVOCABLY
SUBMITS TO THE JURISDICTION OF ANY COURT OF COMPETENT JURISDICTION LOCATED IN THE STATE IN WHICH THE PROPERTY IS LOCATED IN CONNECTION WITH ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE. 

17.  NO ORAL CHANGE 
 The provisions of this Note and the Loan Documents may be amended or revised only by an instrument in writing signed by the Borrower and Lender. This Note and all the other Loan Documents embody the
final, entire agreement of Borrower and Lender and supersede any and all prior commitments, agreements, representations and understandings, whether written or oral, relating to the subject matter hereof and thereof and may not be contradicted or
varied by evidence of prior, contemporaneous or subsequent oral agreements or discussions of Borrower and Lender. There are no oral agreements between Borrower and Lender. 
 18.  LIABILITY 
 If Borrower consists of more
than one person or entity, the obligations and liability of each person or entity hereunder shall be joint and several. Borrower hereby waives and all rights of subrogation, reimbursement, contribution, indemnity or otherwise arising by contract or
operation of law, including without limitation any lien rights, from or against any other Borrower until the Loan is paid in full and all Borrower’s obligations under the Loan Documents are fulfilled. 

[The remainder of the page is intentionally left blank.] 

 Executed as of the day and year first above written. 

 

							
		 	BORROWER:
		
		 	 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTORS, LLC, a

Delaware limited liability company

			
		 	 By:
	 	 Griffin Capital Corporation, sole member

				
		 		 	 By:
	 	 /s/ Kevin A. Shields

		 		 		 	 Kevin A. Shields

		 		 		 	 President

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 

							
		 	 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 1, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 2, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 3, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 4, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 5, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 6, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 7, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 8, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 9, LLC,

GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 10, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 11, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 12,
LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 13, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 14, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 15,
LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 16, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 17, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 18,
LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 19, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 20, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 21,
LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 22, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 23, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 24,
LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 25, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 26, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 27,
LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 28, LLC,
 GRIFFIN CAPITAL (CARLSBAD POINTE) INVESTOR 29, LLC,
 each a Delaware limited liability
company

			
		 	 By:
	 	 Griffin Capital Corporation, its special manager

				
		 		 	 By:
	 	 Kevin A. Shields

		 		 		 	 Kevin A. Shields

		 		 		 	 President

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