Document:

Exhibit
10.1

 

FIRST AMENDMENT TO AGREEMENT OF LEASE

 

THIS FIRST AMENDMENT TO AGREEMENT OF LEASE (the “First Amendment”) is entered into this 11th day of October,
2010, by and between PHILLIPSBURG ASSOCIATES,
L.P., a Pennsylvania limited
partnership (the “Landlord”) and CELLDEX THERAPEUTICS, INC., a Delaware corporation (the
“Tenant”).

 

WITNESSETH:

 

A.            Landlord
and Tenant are parties to that certain Agreement of Lease dated October 21,
2005 (the “Lease”), pursuant to
which Landlord leases to Tenant, and Tenant leases from Landlord, approximately
nineteen thousand three hundred sixty-eight (19,368) rentable square feet of
floor area (the “Demised  Premises”), described as Suite No. 400
in Building 20 located at 942 Memorial Parkway, Phillipsburg, New Jersey, as
more particularly described in the Lease.

 

B.            Landlord
and Tenant now desire to amend the Lease upon the terms and conditions more
specifically set forth herein.

 

NOW, THEREFORE, in
consideration of the covenants and conditions set forth herein, the parties
hereto, intending to be legally bound, hereby agree that the Lease is hereby
amended and supplemented as follows:

 

1.             Recitals/Definitions.  The
above recitals are true and correct and are hereby incorporated into this First
Amendment as if set forth herein at length. 
Any and all capitalized terms not defined herein shall have the
definitions set forth in the Lease.

 

2.             Term. The Term is hereby extended for an additional
period of five (5) years commencing as of September 1, 2011, and
expiring on August 31, 2016 (the “Extended
Term”).

 

3.             Base Rent.  Effective
as of September 1, 2011, the Annual Base Rent set forth in Section 1(f) of
the Lease is hereby amended and supplemented with the following:  During the periods set forth below, Tenant
shall pay Annual Base Rent in equal monthly installments in the amounts set
forth below, on or before the first day of each month in advance, without
demand, deduction or set-off, at the offices of Landlord or at such other place
designated by Landlord:

 

	
  Period

  	
   

  	
  Annual Base

  Rent

  	
   

  	
  Monthly

  Installment

  	
   

  	
  Annual Base

  Rent Per Square

  Foot

  	
   

  
	
  September 1, 2011 through August 31,
  2016

  	
   

  	
  $

  	
  347,655.60

  	
   

  	
  $

  	
  28,971.30

  	
   

  	
  $

  	
  17.95

  	
   

  
	
  Renewal Term

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  September 1, 2016 through August 31,
  2018

  	
   

  	
  $

  	
  358,308.00

  	
   

  	
  $

  	
  29,859.00

  	
   

  	
  $

  	
  18.50

  	
   

  
	
  September 1, 2018 through August 31,
  2021

  	
   

  	
  $

  	
  367,992.00

  	
   

  	
  $

  	
  30,666.00

  	
   

  	
  $

  	
  19.00

  	
   

  

 

 

4.             Base Year.  Effective
as of September 1, 2011, the Base Year set forth in Section 1(h) of
the Lease is hereby amended to be the calendar year 2010.

 

5.             Landlord’s Work.  Landlord,
at its sole cost and expense, shall perform the work set forth on Exhibit “A” attached hereto (the “Landlord’s Work”) by no later than ninety
(90) days following the date that Landlord receives the Tenant’s written
approval of the Tenant’s finishes as outlined in Exhibit “A”.  In a commercially reasonable time period
after the execution of this Amendment and prior to the commencement of Landlord’s
Work, Landlord shall submit to Tenant for Tenant’s written approval, not to be
unreasonably withheld, sufficient detail for Tenant to approve the selection of
all colors and finishes associated with Exhibit “A”.  Except for Landlord’s Work, Tenant accepts
the Demised Premises in its “AS-IS” condition, without any representation or
warranty from Landlord, express or implied.

 

6.             Tenant’s Work.

 

(a)      If
Tenant desires to perform any work in the Demised Premises, Tenant shall, at
Tenant’s sole cost and expense, submit to Landlord for Landlord’s written
approval (not to be unreasonably withheld, conditioned or delayed), detailed
construction and working drawings of the work to be performed by Tenant to the
Demised Premises (the “Tenant’s Work”),
which drawings shall be prepared by a licensed architect reasonably
satisfactory to Landlord.  Tenant may not
commence Tenant’s Work unless and until Landlord has approved such plans, and
Tenant obtains all permits and approvals therefor.  The Tenant’s plans as finally approved by
Landlord shall be referred to herein as the “Tenant’s
Plans”.  Tenant shall perform
all of the Tenant’s Work in a good and workmanlike manner, in accordance with
all applicable laws and otherwise in accordance with the Lease.  All contractors utilized by Tenant for the
performance of the Tenant’s Work shall be subject to the prior written approval
of Landlord, which shall not be unreasonably withheld, conditioned or
delayed.  Tenant shall commence Tenant’s
Work no later than ninety (90) days after the Termination Option (as
hereinafter defined) expires without having been exercised by Tenant or is otherwise
waived by Tenant in writing.

 

(b)      All
subsequent changes in the Tenant’s Plans shall be subject to the approval of
Landlord, not to be unreasonably withheld, conditioned or delayed.  If Landlord approves any change in the Tenant’s
Plans, Tenant shall construct, at Tenant’s sole cost and expense, the Tenant’s
Work in accordance with such change.

 

(c)      Provided
that Tenant is not then in default in the performance of any of its obligations
under the Lease (as amended hereby) beyond applicable notice and cure periods,
Landlord shall contribute up to a maximum amount of One Hundred Thirty-Five
Thousand Five Hundred Seventy-Six Dollars ($135,576.00) (the  “Landlord’s
Maximum TI Contribution”) to be applied against Tenant’s Costs (as
hereinafter defined) for the Tenant’s Work and for no other purpose.  The Landlord’s Maximum TI Contribution shall
be payable thirty (30) days after the later of: (i) the date on which the
Termination Option (as hereinafter defined) expires without having been
exercised by Tenant or is otherwise earlier waived by Tenant in writing, and (ii) the
date that Tenant completes the Tenant’s Work. 
“Tenant’s Costs” shall mean
Tenant’s out-of-pocket contract or purchase price(s) for materials,
components, labor and services for the 

 

2

 

Tenant’s Work, including up to an amount not to
exceed fifteen (15%) percent of Tenant’s costs for space planning, design,
architectural and engineering services and cabling.  Prior to payment of the Landlord’s Maximum TI
Contribution, the total amount of Tenant’s Costs shall be subject to
examination by Landlord, and Tenant shall provide Landlord with copies of all
invoices and other backup documentation reasonably requested by Landlord
relative thereto including, without limitation, lien releases from all
contractors and materialmen supplying labor and/or materials in connection with
Tenant’s Work.  In the event that Tenant’s
Costs are less than the entire Landlord’s Maximum TI Contribution, Landlord
shall be entitled to the benefit of the savings and Tenant shall not be
entitled to any refund or credit against the Rent payable hereunder. In the
event that Tenant’s Costs exceed the amount of the Landlord’s Maximum TI
Contribution, Tenant shall be solely responsible for such excess costs.

 

(d)      Landlord
shall have the right to inspect Tenant’s construction of the Tenant’s Work to
ensure compliance with the provisions of this Section.

 

7.             Renewal Option. 
Tenant shall have the option to extend the Term of the Lease for one (1) additional
period of five (5) years (the “Renewal
Option”), under and subject to the following terms and conditions:

 

(a)      The
renewal term (the “Renewal Term”)
shall be for a five (5) year period commencing on the day immediately
following the expiration date of the Extended Term and expiring at midnight on
the day immediately preceding the fifth (5th) anniversary thereof.

 

(b)      Tenant
must exercise the Renewal Option, if at all, by written notice to Landlord
delivered at least nine (9) months prior to the expiration of the Extended
Term, time being of the essence.

 

(c)      As
a condition to Tenant’s exercise of the Renewal Option, at the time Tenant
delivers its notice of election to exercise the Renewal Option to Landlord, the
Lease shall be in full force and effect, and Tenant shall not be in default in
the performance of any of its obligations under the Lease (as amended hereby)
beyond applicable notice and cure periods.

 

(d)      The
Renewal Term shall be on the same terms and conditions contained in the Lease,
except that (i) the Annual Base Rent shall be as specified in Section 3
above with respect to the Renewal Term, and (ii) Tenant shall not be
entitled to any allowances or other concessions with respect to the Renewal
Term.

 

(e)      Except
for the specific Renewal Option set forth above, there shall be no further
privilege of renewal.

 

8.             Termination Option.  Provided that (i) Tenant is
not in default (beyond applicable notice and cure periods) in the performance
of any of its obligations under the Lease (as amended hereby) on the date that
Tenant delivers the Termination Notice and on the Termination Date (each, as
hereinafter defined), and (ii) Tenant has not exercised its Right of First
Offer set forth in Section 34 of the Lease, Tenant shall have the
one-time option to terminate the Lease (the “Termination
Option”) without penalty or cost in the event that the 

 

3

 

combined rentable square
footage collectively occupied by both FLOWSERVE and/or CURTISS-WRIGHT (and/or
either and/or both of their affiliates, successors and/or assigns) in Building
20 of the Phillipsburg Commerce Park becomes less than thirty-five thousand
(35,000) rentable square feet (each, a “Co-Tenancy
Failure”), subject to and upon the following terms and conditions:

 

(a)      Tenant
shall give Landlord no less than six (6) months prior written notice (the “Termination Notice”)  of its intention to exercise its
Termination Option not later than thirty (30) days after Landlord delivers
written notice to Tenant of the occurrence of a Co-Tenancy Failure, time being
of the essence. 
Notwithstanding the foregoing, in the event that both FLOWSERVE and CURTISS-WRIGHT (or their respective affiliates,
successors and/or assigns) extend their respective leases in Building 20 of the
Phillipsburg Commerce Park through or beyond August 31, 2016, then the
Termination Option shall be deemed to be null and void and of no further force
or effect upon delivery by Landlord to Tenant of written proof of such lease extensions,
which proof shall include signatures of Landlord and each such tenant.  If
such Termination Option is exercised, the Lease shall terminate as of the date
specified in the Termination Notice, which shall be no less than six (6) months
after Tenant delivers the Termination Notice to Landlord (the “Termination Date”).  In the event that Tenant fails to deliver the
Termination Notice to Landlord within the time periods prescribed by this
subparagraph, then Tenant shall be deemed to have irrevocably waived the
Termination Option and, in such event, Tenant’s Termination Option shall be
null and void and Tenant shall have no further right to terminate the Lease
pursuant to this Section.

 

(b)      Notwithstanding
Tenant’s delivery of the Termination Notice, Tenant shall continue to pay all
Rent through the Termination Date.  The
Rent shall be apportioned as of the Termination Date.

 

(c)      Tenant
shall surrender vacant possession of the Demised Premises on or prior to the
Termination Date.  In the event Tenant
exercises its Termination Option, the Lease shall terminate as of the
Termination Date as if the Termination Date were the date originally stipulated
for the expiration of the Term; provided, however, that nothing herein shall
relieve Tenant of any obligations which accrued prior to the Termination Date.

 

9.             Right of First Offer. Nothing in this First Amendment shall
diminish Tenant’s rights under Section 34 of the Lease, which rights shall
remain in full force and effect throughout the Extended Term, and any subsequent
Renewal Term.

 

10.           Tenant Notices. Section 1(q) of the Lease shall be
amended to reflect that from and after the date hereof copies of all notices to
Tenant shall simultaneously be sent to:

 

Lowenstein Sandler PC

65 Livingston Avenue

Roseland, New Jersey
07068

Attn: Anthony O. Pergola, Esq.

 

4

 

11.           Certification. Tenant, by executing this First Amendment, hereby
certifies that: (a) the Lease is in full force and effect and has not been
modified except as provided above; (b) there are no prepayments by or
credits due Tenant under the Lease; and (c) Tenant is not aware of the
existence of any default by Landlord, nor of any event which with the giving of
notice or passage of time, or both, would constitute a breach or default by
Landlord under the Lease.

 

12.           Broker.  Tenant and
Landlord warrant that they have had no dealings with any broker or agent in
connection with the negotiations or execution of this First Amendment, other
than Cushman & Wakefield of NJ, Inc., and Preferred Real Estate
Advisors, Inc. (whose commissions shall be paid by Landlord pursuant to
separate agreements), and Landlord and Tenant agree to indemnify the other
against all costs, expenses, reasonable attorney’s fees, or other liability for
commissions or other compensation or charges resulting from a breach of such
representations.

 

13.           Entire Agreement/Ratification.  This First
Amendment represents the entire understanding of the parties with respect to
the subject matter hereof, and the Lease as hereby amended remains in full
force and effect and may not be modified further except in writing executed by
the parties to be bound thereby.  Unless
expressly modified herein, the terms and conditions of the Lease shall continue
in full force and effect, and the parties hereby confirm and ratify the same.

 

14.           Miscellaneous.  This First
Amendment shall be binding upon and shall inure to the benefit of the parties
and their permitted successors and assigns.

 

- SIGNATURE PAGE TO FOLLOW -

 

5

 

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

 

	
   

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  PHILLIPSBURG
  ASSOCIATES, L.P.,

  
	
   

  	
  a Pennsylvania limited
  partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Phillipsburg, Inc.,
  its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ William F. Henderson

  
	
  Witness:

  	
   

  	
   

  	
  By: The Flynn Company as
  Receiver for Phillipsburg Associates, L.P. by William F. Henderson,
  Controller

  
	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
  CELLDEX THERAPEUTICS, INC.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
  Witness:

  	
   

  	
   

  	
  By:

  	
  /s/
  Anthony S. Marucci

  
	
   

  	
   

  	
   

  	
  Name: 

  	
  Anthony S. Marucci

  
	
   

  	
   

  	
   

  	
  Title:

  	
  President & CEO

  
						

 

6

 

EXHIBIT “A”

 

LANDLORD’S
WORKExhibit 10.2

 

LOAN NO. 850203350

 

SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT

 

This
Subordination, Non-Disturbance and Attornment Agreement (the “Agreement”)
is dated as of the 11th day of October 2010, by and between Bank of
America, National Association, as successor by merger to LaSalle Bank National
Association, as Trustee for the portfolio known as the Bear Sterns Commercial
Mortgage Securities, Inc. Commercial Pass Through Certificates, Series 2006-PWR13,
acting by and through Helios AMC, LLC, the Special Servicer (“Lender”),
and CELLDEX THERAPEUTICS, INC., a Delaware corporation (“Tenant”).

 

RECITALS

 

A.            Tenant is the tenant under
that certain Agreement of Lease, dated October 5, 2005 (the “Original
Lease”), with Phillipsburg Associates, L.P., a Pennsylvania limited
partnership (“Landlord”), as landlord, relating to certain premises comprising
of approximately nineteen thousand three hundred sixty-eight (19,368) rentable
square feet of floor area in building #20 located at 942 Memorial Parkway,
Phillipsburg, New Jersey 08865 (the “Demised Premises”), as more
particularly described in the Lease, and which relates to certain real property
as more particularly described on Exhibit A hereto (the “Property”);
which Original Lease was modified by that certain First Amendment to Agreement
of Lease, dated
                  
      , 2010 (the “First Amendment”;
together with the Original Lease, hereinafter collectively referred to as the “Lease”).

 

B.            This Agreement is being
entered into in connection with a certain mortgage loan (the “Loan”)
made by Lender to Landlord, which is secured by, among other things:  (a) a first priority amended and
restated mortgage to secure debt on and of the Property (the “Mortgage”)
to be recorded with the registry or clerk of the county in which the Property
is located; and (b) a first priority amended and restated assignment of
leases and rents on the Property (the “Assignment of Leases and Rents”)
which was also recorded.  The Mortgage
and the Assignment of Leases and Rents are hereinafter collectively referred to
as the “Security Documents”.

 

C.            Tenant acknowledges that
Lender will rely on this Agreement in connection with its Loan to Landlord.

 

AGREEMENT

 

For
mutual consideration, including the mutual covenants and agreements set forth
below, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

 

1.             Tenant agrees that the Lease is and shall be subject and subordinate to
the Security Documents and to all present or future advances under the
obligations secured thereby and all renewals, amendments, modifications,
consolidations, replacements and extensions of the secured obligations and the
Security Documents, to the full extent of all 

 

 

amounts secured by the Security Documents from time
to time.  Said subordination is to have
the same force and effect as if the Security Documents and such renewals,
modifications, consolidations, replacements and extensions thereof had been
executed, acknowledged, delivered and recorded prior to the Lease, any
amendments or modifications thereof and any notice thereof.

 

2.             Lender agrees that, if the Lender exercises any of its rights under the
Security Documents, including an entry by Lender pursuant to the Mortgage or a
foreclosure of the Mortgage, Lender shall not disturb Tenant’s right of quiet
possession of the Premises under the terms of the Lease so long as Tenant is
not in default beyond any applicable grace period of any term, covenant or
condition of the Lease.

 

3.             Tenant agrees that, in the event of a foreclosure of the Mortgage by
Lender or the acceptance of a deed in lieu of foreclosure by Lender or any
other succession of Lender to fee ownership, Tenant will attorn to and
recognize Lender as its landlord under the Lease for the remainder of the term
of the Lease (including all extension periods which have been or are hereafter
exercised) upon the same terms and conditions as are set forth in the Lease,
and Tenant hereby agrees to pay and perform all of the obligations of Tenant pursuant
to the Lease.

 

4.             Tenant agrees that, in the event Lender succeeds to the interest of
Landlord under the Lease, Lender shall not be:

 

(a)           liable for any act or omission of any prior
Landlord (including, without limitation, the then defaulting Landlord), or

 

(b)           subject to any defense or offsets which Tenant
may have against any prior Landlord (including, without limitation, the then
defaulting Landlord), or

 

(c)           bound by any payment of rent or additional
rent which Tenant might have paid for more than one month in advance of the due
date under the Lease to any prior Landlord (including, without limitation, the
then defaulting Landlord), or

 

(d)           bound by any obligation to make any payment to
Tenant which was required to be made prior to the time Lender succeeded to any
prior Landlord’s interest, or

 

(e)           accountable for any monies deposited with any
prior Landlord (including security deposits), except to the extent such monies
are actually received by Lender, or

 

(f)            bound by any surrender, termination, amendment
or modification of the Lease made without the consent of Lender (except a
termination that is permitted in the Lease without Landlord’s consent).

 

5.             Tenant agrees that, notwithstanding any provision hereof to the contrary,
the terms of the Mortgage shall continue to govern with respect to the
disposition of any insurance proceeds or eminent domain awards, and any
obligations of Landlord to restore the real estate of which the Premises are a
part shall, insofar as they apply to Lender, be 

 

 

limited to insurance proceeds or eminent domain
awards received by Lender after the deduction of all costs and expenses
incurred in obtaining such proceeds or awards.

 

6.             Tenant hereby agrees to give to Lender copies of all notices of Landlord
default(s) under the Lease in the same manner as, and whenever, Tenant
shall give any such notice of default to Landlord, and no such notice of
default shall be deemed given to Landlord unless and until a copy of such
notice shall have been so delivered to Lender. 
Lender shall have the right to remedy any Landlord default under the
Lease, or to cause any default of Landlord under the Lease to be remedied, and
for such purpose Tenant hereby grants Lender such additional period of time as
may be reasonable to enable Lender to remedy, or cause to be remedied, any such
default in addition to the period given to Landlord for remedying, or causing
to be remedied, any such default.  Tenant
shall accept performance by Lender of any term, covenant, condition or
agreement to be performed by Landlord under the Lease with the same force and
effect as though performed by Landlord. 
No Landlord default under the Lease shall exist or shall be deemed to
exist (i) as long as Lender, in good faith, shall have commenced to cure
such default within the above referenced time period and shall be prosecuting
the same to completion with reasonable diligence, subject to force majeure, or (ii) if
possession of the Premises is required in order to cure such default, or if
such default is not susceptible of being cured by Lender as long as Lender, in
good faith, shall have notified Tenant that Lender intends to institute
proceedings under the Security Documents, and, thereafter, as long as such
proceedings shall have been instituted and shall be prosecuted with reasonable
diligence.  Lender shall have the right,
without Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu
of foreclosure of the Mortgage or to exercise any other remedies under the
Security Documents.

 

7.             Tenant hereby consents to the Assignment of Leases and Rents from
Landlord to Lender in connection with the Loan. 
Tenant acknowledges that the interest of the Landlord under the Lease
has been assigned to Lender solely as security for the purposes specified in
said assignments, and Lender shall have no duty, liability or obligation
whatsoever under the Lease or any extension or renewal thereof, either by
virtue of said assignments or by any subsequent receipt or collection of rents
thereunder, unless Lender shall specifically undertake such liability in
writing or unless Lender or its designee or nominee becomes, and then only with
respect to periods in which Lender or its designee or nominee becomes, the fee
owner of the Premises.  Tenant agrees
that upon receipt of a written notice from Lender of a default by Landlord
under the Loan, Tenant will thereafter, if requested by Lender, pay rent to
Lender in accordance with the terms of the Lease.

 

8.             The Lease shall not be modified, amended or terminated (except a
termination that is permitted in the Lease without Landlord’s consent) without
Lender’s prior written consent in each instance.

 

9.             Any notice, election, communication, request or other document or demand
required or permitted under this Agreement shall be in writing and shall be
deemed delivered on the earlier to occur of (a) receipt or (b) the
date of delivery, refusal or nondelivery indicated on the return receipt, if
deposited in a United States Postal Service Depository, postage prepaid, sent
certified or registered mail, return receipt requested, or if sent via a 

 

 

recognized commercial courier service providing for
a receipt, addressed to Tenant or Lender, as the case may be, at the following
addresses:

 

	
  If
  to Tenant:

  	
  At
  the Demised Premises

  
	
   

  	
   

  
	
  with
  a copy to:

  	
  Lowenstein
  Sandler PC

  
	
   

  	
  65
  Livingston Avenue

  
	
   

  	
  Roseland,
  New Jersey 07068

  
	
   

  	
  Attn:

  	
  Anthony O. Pergola, Esq.

  
	
   

  	
   

  
	
  If
  to Lender:

  	
  Helios
  AMC, LLC, as special servicer

  
	
   

  	
  350
  Sentry Parkway

  
	
   

  	
  Building
  630, Suite 100

  
	
   

  	
  Blue
  Bell, PA 19422

  
	
   

  	
  Attn:

  	
  Tom
  Deja, Asset Manager

  
	
   

  	
   

  
	
  with
  a copy to:

  	
  Klehr
  Harrison Harvey Branzburg LLP

  
	
   

  	
  1835
  Market Street, Suite 1400

  
	
   

  	
  Philadelphia,
  Pennsylvania 19103

  
	
   

  	
  Attn:

  	
  Frank
  Correll, Jr., Esq.

  

 

10.           The term “Lender” as used herein includes any successor or assign of the
named Lender herein, including without limitation, any co-lender at the time of
making the Loan, any purchaser at a foreclosure sale and any transferee
pursuant to a deed in lieu of foreclosure, and their successors and assigns,
and the terms “Tenant” and “Landlord” as used herein include any successor and
assign of the named Tenant and Landlord herein, respectively; provided,
however, that such reference to Tenant’s or Landlord’s successors and assigns
shall not be construed as Lender’s consent to any assignment or other transfer
by Tenant or Landlord.

 

11.           If any provision of this Agreement is held to be invalid or unenforceable
by a court of competent jurisdiction, such provision shall be deemed modified
to the extent necessary to be enforceable, or if such modification is not
practicable, such provision shall be deemed deleted from this Agreement, and
the other provisions of this Agreement shall remain in full force and effect,
and shall be liberally construed in favor of Lender.

 

12.           Neither this Agreement nor any of the terms hereof may be terminated,
amended, supplemented, waived or modified orally, but only by an instrument in
writing executed by the party against which enforcement of the termination,
amendment, supplement, waiver or modification is sought.

 

13.           This Agreement shall be construed in accordance with the laws of the
state of in which the Property is located.

 

14.           The person executing this Agreement on behalf of Tenant is authorized by
Tenant to do so and execution hereof is the binding act of Tenant enforceable
against Tenant.

 

 

Witness
the execution hereof as of the date first above written.

 

	
   

  	
  LENDER:

  	
   

  
	
   

  	
   

  
	
   

  	
  Bank
  of America, National Association

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Helios
  AMC, LLC, solely in its

  
	
   

  	
   

  	
  capacity
  as Special Servicer

  
	
   

  	
   

  	
  pursuant
  to that certain Pooling and

  
	
   

  	
   

  	
  Servicing
  Agreement dated as of

  
	
   

  	
   

  	
  September 1,
  2006

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Allen D. Hanson

  
	
   

  	
  Name:

  	
  Allen
  D. Hanson

  
	
   

  	
  Title:

  	
  S.V.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TENANT:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CELLDEX
  THERAPEUTICS, INC.,

  
	
   

  	
  a
  Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Antony S. Marucci

  
	
   

  	
  Name:

  	
  Anthony
  S. Marucci

  
	
   

  	
  Title:

  	
  President &
  CEO

  
				

 

The
undersigned Landlord hereby consents to the foregoing Agreement and confirms
the facts stated in the foregoing Agreement.

 

 

	
   

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  PHILLIPSBURG
  ASSOCIATES, L.P.,

  
	
   

  	
  a
  Pennsylvania limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Phillipsburg, Inc.,
  its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  The
  Flynn Company as Receiver for

  
	
   

  	
   

  	
  Phillipsburg
  Associates, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  William F. Henderson

  
	
   

  	
  Name:

  	
  William
  F. Henderson

  
	
   

  	
  Title:

  	
  Controller

  
				

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  STATE
  OF Pennsylvania

  	
  :

  	
   

  	
   

  
	
   

  	
   

  	
  :

  	
  SS

  	
   

  
	
  COUNTY
  OF Montgomery

  	
  :

  	
   

  	
   

  

 

 

On this, the 12th day of October 2010,
before me, the subscriber, a Notary Public in an for the State/Commonwealth of
Pennsylvania, personally appeared Allen D. Hanson who acknowledged him/herself
to be the S.V.P. of HELIOS AMC, LLC, acting on behalf of Bank of America,
National Association solely in its capacity as Special Servicer pursuant to
that certain Pooling and Servicing Agreement dated as of September 1,
2006, and that he/she as such officer executed the foregoing document for the
purposes therein contained.

 

IN WITNESS WHEREOF, I
have hereunder set my hand and notarial seal.

 

	
   

  	
  /s/

  
	
   

  	
  NOTARY PUBLIC

  
	
   

  	
  MY COMMISSION EXPIRES:

  

 

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  STATE
  OF New Jersey

  	
  :

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  SS

  	
   

  
	
  COUNTY
  OF Hunterdon

  	
  :

  	
   

  	
   

  

 

On this, the 5th day of October 2010, before me, the
subscriber, a Notary Public in an for the State/Commonwealth of New Jersey,
personally appeared Anthony S. Marucci who acknowledged him/herself to be the
President & CEO of CELLDEX THERAPEUTICS, INC., a Delaware
corporation, and that he/she as such officer executed the foregoing document
for the purposes therein contained.

 

IN WITNESS WHEREOF, I
have hereunder set my hand and notarial seal.

 

	
   

  	
  /s/

  
	
   

  	
  NOTARY PUBLIC

  
	
   

  	
  MY COMMISSION EXPIRES:

  

 

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  STATE
  OF Pennsylvania

  	
  :

  	
   

  	
   

  
	
   

  	
   

  	
  :

  	
  SS

  	
   

  
	
  COUNTY
  OF Philadelphia

  	
  :

  	
   

  	
   

  

 

On this, the 11th day of October 2010, before me, the
subscriber, a Notary Public in an for the State/Commonwealth of Pennsylvania,
personally appeared William F. Henderson who acknowledged himself to be the
Controller of The Flynn Company acting as Receiver for Phillipsburg Associates,
L.P., and that he as such officer executed the foregoing document for the
purposes therein contained.

 

IN WITNESS WHEREOF, I
have hereunder set my hand and notarial seal.

 

	
   

  	
  /s/

  
	
   

  	
  NOTARY PUBLIC

  
	
   

  	
  MY COMMISSION EXPIRES:

  

 

 

EXHIBIT “A”

 

Legal
Description of Property

 

ALL THAT CERTAIN lot, piece or parcel of land
situate in the Town of Phillipsburg, Warren County, New Jersey, being a portion
of Lot 7, Block 3201 to be known as “Proposed Lot 7.01, Block 3201”, as
follows:

 

Beginning at a point in the Municipal Boundary line
between Lopatcong Township and the Town of Phillipsburg, also being the
dividing line between Lot 7, Block 3201, Town of Phillipsburg and Lot 1, Block
101, Lopatcong Township where same is intersected with the southerly line of
Lot 3, Block 300, Lopatcong Township (n/f Conrail Morris and Essex Division,
formerly Erie-Lackawanna Railroad Company) and from said Point or Place of
Beginning running thence;

 

1.          Along the Municipal Boundary
line between Lopatcong Township and the Town of Phillipsburg, also being the
dividing line between Lot 7, Block 3201, Town of Phillipsburg and Lot 1, Block
101, Lopatcong Township, South 26° 28’ 35” East — 398.54 feet
to a point, thence;

 

2.          Leaving said Municipal
Boundary line between Lopatcong Township and the Town of Phillipsburg and
running along a new proposed lot line dividing Proposed Lot 7.01, Block 3201
and Proposed Lot 7.02, Block 3201, South 81° 04’ 03” West 415.13 feet to a
point, thence;

 

3.          Still along the same, North
08° 55’ 57” West –
380.00 feet to a point in the aforesaid Municipal Boundary line between
Lopatcong Township and the Town of Phillipsburg also being the southerly line
of Lot 3, Block 300 (n/f Conrail Morris and Essex Division, formerly
Erie-Lackawanna Railroad Company), thence;

 

4.          Along said Municipal
Boundary line between Lopatcong Township and the Town of Phillipsburg, also
being the southerly line of Lot 3, Block 300 Lopatcong Township (n/f Conrail
Morris and Essex Division, formerly Erie-Lackawanna Railroad Company), North
81° 04’ 03’ East – 295.00 feet to the Point or Place of Beginning.

 

The above description is in accordance with a map
entitled “Final Subdivision Plat, Former Ingersoll-Rand Site, Lot 7, Block
3201, Town of Phillipsburg, Warren County, New Jersey” dated June 9, 2004
and revised through June 17, 2004 and prepared by Chester, Ploussas,
Lisowsky Partnership, LLP, Engineers and Surveyors, Matawan, New Jersey.

 

Being a portion of Lot 7, Block 3201 as shown on the
current Tax Map of the Town of Phillipsburg.

 

BEING the same premises which Ingersoll-Rand
Company, a New Jersey corporation by Deed dated August 27, 2004 and
recorded November 9, 2004 in the Clerks Office of Warren County, New
Jersey, in Book 1965 page 197, granted unto Phillipsburg Associates, L.P.,
a Pennsylvania limited partnership, in fee.

 

TOGETHER WITH Declaration of Cross Easement by and
between Phillipsburg Associates, L.P.; Phillipsburg Associates I, L.P.;
Phillipsburg Associates II, L.P. and Phillipsburg Associates III, L.P., dated
September 27, 2004, and recorded November 9, 2004, in Book 1965 page 246.
Amended and Restated Declaration of Cross Easements, Restrictions, Covenants
and Withdrawal of Property as in Book 2031 page 45.

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