Document:

Lease Agreement dated as of March 30, 2004 between ProLogis and the Co.

 Exhibit 10.13 
  
 [Florida Net Lease] 
  
 LEASE AGREEMENT 
  
 THIS LEASE AGREEMENT is made this 30th day of March, 2004, between ProLogis (“Landlord”), and the Tenant named below. 
  

									
	Tenant:	  	Leslie’s Poolmart, Inc.
		
	Tenant’s Representative, Address, and Telephone:	  	 Mr. Jim Iacabozzi
 3925 E. Broadway
Road
 Suite 100
 Phoenix, AZ 85040
 (602) 366-3999 x4248

		
	Premises:	  	That portion of the Building, containing approximately 20,509 rentable square feet, as determined by Landlord, as shown on Exhibit A.
		
	Project:	  	Consulate Distribution Center
		
	Building:	  	 Consulate Distribution Center #100
 2100
Consulate Drive
 Suite 104
 Orlando, FL
32837

		
	Tenant’s Proportionate Share of Project:	  	3.590%
		
	Tenant’s Proportionate Share of Building:	  	27.350%
		
	Lease Term:	  	Beginning on the Commencement Date and ending on December 31, 2009.
		
	Commencement Date:	  	Upon the earlier of: (i) ninety (90) days following full execution of this Lease, or (ii) upon Substantial Completion of the Initial Improvements as set forth in Addendum
2.
	Initial Monthly Base Rent:	  	 	  	 	 	  	$	8,306.15
				
	 Initial Estimated Monthly Operating Expense Payments:
 (estimates only and subject to
 adjustment to actual costs and
 expenses according to the
 provisions of this Lease)
	  	 1. Utilities
 2.
Common Area Charges:
 3. Taxes:
 4. Insurance:
 5. Others:         Mgmt. Fee
	  	$
$
$
$
$	0.00
837.45
1,025.45
119.64
256.36	  	 	 

  

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	Initial Estimated Monthly Operating Expense Payments:	  	 $2,238.90

		
	Initial Monthly Sales Tax:	  	$685.43
		
	Initial Monthly Base Rent, Operating Expense and Sales Tax Payments:	  	$11,230.48
		
	Security Deposit:	  	$5,000,00
		
	Broker:	  	Cushman & Wakefield of Florida (Susan Ruby)
		
	Addenda:	  	1. Miscellaneous Provisions 2. Construction (Allowance)
3. HVAC Maintenance Contract 4. Sign Specifications
5. Move Out Conditions 6. Renewal Option (Baseball
Arbitration) 7. Cap On Controllable Operating Expenses
8. Vacation of Premises 9. Storage & Use of Hazardous
Materials
		
	Exhibits:	  	A. Site Plan B. Premises C. Tenant’s Plans D. Hazardous
Materials Inventory Statement

  
 1. Granting
Clause. In consideration of the obligation of Tenant to pay rent as herein provided and in consideration of the other terms, covenants, and conditions hereof, Landlord leases to Tenant, and Tenant takes from Landlord, the Premises, to have and
to hold for the Lease Term, subject to the terms, covenants and conditions of this Lease. 
  
 2. Acceptance of Premises. Landlord shall deliver the Premises within ten (10) days of Lease Execution. Tenant shall accept the Premises in its condition as of that date, subject to all applicable laws,
ordinances, regulations, covenants and restrictions. Landlord has made no representation or warranty as to the suitability of the Premises for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises are
suitable for Tenant’s intended purposes. Except as provided in Paragraph 10, in no event shall Landlord have any obligation for any defects (except for Latent Defects) in the Premises or any limitation on its use. The taking of possession of
the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken except for items that are Landlord’s responsibility under Paragraph 10, Latent Defects, and
any punchlist items agreed to in writing by Landlord and Tenant. 
  
 3. Use. The Premises shall be used only for the purpose of receiving, storing, shipping and selling (but limited to wholesale sales) products, materials and merchandise made and/or distributed by Tenant and for such other lawful
purposes as may be incidental thereto; provided, however, with Landlord’s prior written consent, Tenant may also use the Premises for light manufacturing. Tenant shall not conduct or give notice of any auction, liquidation, or going out of
business sale on the Premises. Tenant will use the Premises in a careful, safe and proper manner and will not commit waste, overload the floor or structure of the Premises or subject the Premises to use that would damage the Premises. Tenant shall
not permit any objectionable or unpleasant odors, smoke, dust, gas, noise, or vibrations to emanate from the Premises, or take 

  

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any other action that would constitute a nuisance or would disturb, unreasonably interfere with, or endanger Landlord or any tenants of the Project. Outside
storage, including without limitation, storage of trucks and other vehicles, is prohibited without Landlord’s prior written consent. Tenant, at its sole expense, shall use and occupy the Premises in compliance with all laws, including, without
limitation, the Americans With Disabilities Act, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants and restrictions now or hereafter applicable to the Premises (collectively, “Legal Requirements”).
The Premises shall not be used as a place of public accommodation under the Americans With Disabilities Act or similar state statutes or local ordinances or any regulations promulgated thereunder, all as may be amended from time to time. Tenant
shall, at its expense, make any alterations or modifications, within or without the Premises, that are required by Legal Requirements related to Tenant’s use or occupation of the Premises. Tenant will not use or permit the Premises to be used
for any purpose or in any manner that would void Tenant’s or Landlord’s insurance, increase the insurance risk, or cause the disallowance of any sprinkler credits. If any increase in the cost of any insurance on the Premises or the Project
is caused by Tenant’s use or occupation of the Premises, or because Tenant vacates the Premises, then Tenant shall pay the amount of such increase to Landlord. Any occupation of the Premises by Tenant prior to the Commencement Date shall be
subject to all obligations of Tenant under this Lease. Notwithstanding the foregoing, Tenant shall be permitted to store and park trucks and commercial vehicles in the fenced or block wall enclosure in the rear of the Premises, as depicted in the
site plan attached hereto as Exhibit B. 
  
 4. Base Rent.
Tenant shall, beginning on the 91st day of the Lease Term, pay Base Rent in the amount set forth above. The first
month’s Base Rent, the Security Deposit, and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand,
deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date. Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made
by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in writing) shall be made by check or Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern
Time, at such place, within the continental United States, as Landlord may from time to time designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are
independent obligations. Tenant shall have no right at any time to abate, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated
Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 8 percent of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies
hereunder or at law and shall not be construed as a penalty. 
  
 5. Security Deposit. The Security Deposit shall be held by Landlord as security for the performance of Tenant’s obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord’s
damages in case of Tenant’s default. Upon each occurrence of an Event of Default (hereinafter defined), Landlord may use all or part of the Security Deposit to pay delinquent payments due under this Lease, and the cost of any damage, injury,
expense or liability caused by such Event of Default, without prejudice to any other remedy provided herein or provided by law. Tenant shall pay Landlord on demand the amount 

  

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that will restore the Security Deposit to its original amount. Landlord’s obligation respecting the Security Deposit is that of a debtor, not a trustee;
no interest shall accrue thereon. The Security Deposit shall be the property of Landlord, but shall be paid to Tenant when Tenant’s obligations under this Lease have been completely fulfilled. Landlord shall be released from any obligation with
respect to the Security Deposit upon transfer of this Lease and the Premises to a person or entity assuming Landlord’s obligations under this Paragraph 5. 
  

6. Operating Expense Payments. During each month of the Lease Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount
equal to 1/12 of the annual cost, as estimated by Landlord from time to time, of Tenant’s Proportionate Share (hereinafter defined) of Operating Expenses for the Project. Payments thereof for any fractional calendar month shall be prorated. The
term “Operating Expenses” means all costs and expenses incurred by Landlord with respect to the ownership, maintenance, and operation of the Project including, but not limited to costs of Taxes (hereinafter defined) and fees payable to tax
consultants and attorneys for consultation and contesting taxes; insurance; utilities; maintenance, repair and replacement of all portions of the Project, including without limitation, paving and parking areas, roads, roofs (including the roof
membrane), alleys, and driveways, mowing, landscaping, exterior painting, utility lines, heating, ventilation and air conditioning systems, lighting, electrical systems and other mechanical and building systems; amounts paid to contractors and
subcontractors for work or services performed in connection with any of the foregoing; charges or assessments of any association to which the Project is subject; property management fees payable to a property manager, including any affiliate of
Landlord, security services, if any; trash collection, sweeping and removal; and additions or alterations made by Landlord to the Project or the Building in order to comply with Legal Requirements (other than those expressly required herein to be
made by Tenant) or that are appropriate to the continued operation of the Project or the Building as a bulk warehouse facility in the market area, provided that the cost of additions or alterations that are required to be capitalized for federal
income tax purposes shall be amortized on a straight line basis over a period equal to the lesser of the useful life thereof for federal income tax purposes or 10 years. Operating Expenses do not include costs, expenses, depreciation or amortization
for capital repairs and capital replacements required to be made by Landlord under Paragraph 10 of this Lease, debt service under mortgages or ground rent under ground leases, costs of restoration to the extent of net insurance proceeds received by
Landlord with respect thereto, leasing commissions, or the costs of renovating space for tenants. 
  
 If Tenant’s total payments of Operating Expenses for any year are less than Tenant’s Proportionate Share of actual Operating Expenses for such
year, then Tenant shall pay the difference to Landlord within 30 days after demand, and if more, then Landlord shall retain such excess and credit it against Tenant’s next payments. For purposes of calculating Tenant’s Proportionate Share
of Operating Expenses, a year shall mean a calendar year except the first year, which shall begin on the Commencement Date, and the last year, which shall end on the expiration of this Lease. With respect to Operating Expenses which Landlord
allocates to the entire Project, Tenant’s “Proportionate Share” shall be the percentage set forth on the first page of this Lease as Tenant’s Proportionate Share of the Project as reasonably adjusted by Landlord in the future for
changes in the physical size of the Premises or the Project; and, with respect to Operating Expenses which Landlord allocates only to the Building, Tenant’s “Proportionate Share” shall be the percentage set forth on the first page of
this Lease as Tenant’s Proportionate Share of the Building as reasonably adjusted by Landlord in the future for changes in the 

  

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physical size of the Premises or the Building. Landlord may equitably increase Tenant’s Proportionate Share for any item of expense or cost reimbursable
by Tenant that relates to a repair, replacement, or service that benefits only the Premises or only a portion of the Project or Building that includes the Premises or that varies with occupancy or use. The estimated Operating Expenses for the
Premises set forth on the first page of this Lease are only estimates, and Landlord makes no guaranty or warranty that such estimates will be accurate. 
  
 7. Utilities. Tenant shall pay for all water, gas, electricity, heat, light, power, telephone, sewer, sprinkler services, refuse and trash
collection, and other utilities and services used on the Premises, all maintenance charges for utilities, and any storm sewer charges or other similar charges for utilities imposed by any governmental entity or utility provider, together with any
taxes, penalties, surcharges or the like pertaining to Tenant’s use of the Premises. Landlord may cause at Tenant’s expense any utilities to be separately metered or charged directly to Tenant by the provider. Tenant shall pay its share of
all charges for jointly metered utilities based upon consumption, as reasonably determined by Landlord. No interruption or failure of utilities shall result in the termination of this Lease or the abatement of rent. Tenant agrees to limit use of
water and sewer for normal restroom use. 
  
 8. Taxes.
Landlord shall pay all taxes, assessments and governmental charges (collectively referred to as “Taxes”) that accrue against the Project during the Lease Term, which shall be included as part of the Operating Expenses charged to Tenant.
Landlord may contest by appropriate legal proceedings the amount, validity, or application of any Taxes or liens thereof. All capital levies or other taxes assessed or imposed on Landlord upon the rents payable to Landlord under this Lease and any
franchise tax, any excise, transaction, sales or privilege tax, assessment, levy or charge measured by or based, in whole or in part, upon such rents from the Premises and/or the Project or any portion thereof shall be paid by Tenant to Landlord
monthly in estimated installments or upon demand, at the option of Landlord, as additional rent; provided, however, in no event shall Tenant be liable for any net income taxes imposed on Landlord unless such net income taxes are in substitution for
any Taxes payable hereunder. If any such tax or excise is levied or assessed directly against Tenant, then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing authority shall require. Tenant shall be
liable for all taxes levied or assessed against any personal property or fixtures placed in the Premises, whether levied or assessed against Landlord or Tenant. 
  

9. Insurance. Landlord shall maintain all risk property insurance covering the full replacement cost of the Building. Landlord may, but is not
obligated to, maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to, commercial liability insurance and rent loss insurance. All such insurance shall be included as part of the Operating
Expenses charged to Tenant. The Project or Building may be included in a blanket policy (in which case the cost of such insurance allocable to the Project or Building will be determined by Landlord based upon the insurer’s cost calculations).
Tenant shall also reimburse Landlord for any increased premiums or additional insurance which Landlord reasonably deems necessary as a result of Tenant’s use of the Premises. 
  
 Tenant, at its expense, shall maintain during the Lease Term: all risk property insurance covering the full replacement cost
of all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense; worker’s compensation insurance with no less than the minimum limits required by law; employer’s liability insurance with such limits
as required by law; and commercial liability insurance, with a minimum limit of $1,000,000 per 

  

 5 

 
occurrence and a minimum umbrella limit of $1,000,000, for a total minimum combined general liability and umbrella limit of $2,000,000 (together with such
additional umbrella coverage as Landlord may reasonably require) for property damage, personal injuries, or deaths of persons occurring in or about the Premises. Landlord may from time to time require reasonable increases in any such limits. The
commercial liability policies shall name Landlord as an additional insured, insure on an occurrence and not a claims-made basis, be issued by insurance companies which are reasonably acceptable to Landlord, not be cancelable unless 30 days’
prior written notice shall have been given to Landlord, contain a hostile fire endorsement and a contractual liability endorsement and provide primary coverage to Landlord (any policy issued to Landlord providing duplicate or similar coverage shall
be deemed excess over Tenant’s policies). Such policies or certificates thereof shall be delivered to Landlord by Tenant upon commencement of the Lease Term and upon each renewal of said insurance. 
  
 The all risk property insurance obtained by Landlord and Tenant shall include
a waiver of subrogation by the insurers and all rights based upon an assignment from its insured, against Landlord or Tenant, their officers, directors, employees, managers, agents, invitees and contractors, in connection with any loss or damage
thereby insured against. Neither party nor its officers, directors, employees, managers, agents, invitees or contractors shall be liable to the other for loss or damage caused by any risk coverable by all risk property insurance, and each party
waives any claims against the other party, and its officers, directors, employees, managers, agents, invitees and contractors for such loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord and its agents,
employees and contractors shall not be liable for, and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting from any
accident or occurrence in or upon the Premises or the Project from any cause whatsoever, including without limitation, damage caused in whole or in part, directly or indirectly, by the negligence of Landlord or its agents, employees or contractors.

  
 10. Landlord’s Repairs. Landlord shall maintain,
at its expense, Latent Defects and the structural soundness of the roof, foundation, and exterior walls of the Building in good repair, reasonable wear and tear and uninsured losses and damages caused by Tenant, its agents and contractors excluded.
The term “walls” as used in this Paragraph 10 shall not include windows, glass or plate glass, doors or overhead doors, special store fronts, dock bumpers, dock plates or levelers, or office entries. Tenant shall promptly give Landlord
written notice of any repair required by Landlord pursuant to this Paragraph 10, after which Landlord shall have a reasonable opportunity to repair. 
  
 11. Tenant’s Repairs. Landlord, at Tenant’s expense as provided in Paragraph 6, shall maintain in good repair and condition the parking
areas and other common areas of the Building, including, but not limited to driveways, alleys, landscape and grounds surrounding the Premises. Subject to Landlord’s obligation in Paragraph 10 and subject to Paragraphs 9 and 15, Tenant, at its
expense, shall repair, replace and maintain in good condition all portions of the Premises and all areas, improvements and systems exclusively serving the Premises including, without limitation, dock and loading areas, truck doors, plumbing, water
and sewer lines up to points of common connection, fire sprinklers and fire protection systems, entries, doors, ceilings, windows, interior walls, and the interior side of demising walls, and heating, ventilation and air conditioning systems. Such
repair and replacements include capital expenditures and repairs whose benefit may extend beyond the Term. Heating, ventilation and air conditioning systems and other mechanical and building systems serving the Premises shall be maintained at
Tenant’s 

  

 6 

 
expense pursuant to maintenance service contracts entered into by Tenant or, at Landlord’s election, by Landlord. The scope of services and contractors
under such maintenance contracts shall be reasonably approved by Landlord. If Tenant fails to perform any repair or replacement for which it is responsible, Landlord may perform such work and be reimbursed by Tenant within 10 days after demand
therefor. Subject to Paragraphs 9 and 15, Tenant shall bear the full cost of any repair or replacement to any part of the Building or Project that results from damage caused by Tenant, its agents, contractors, or invitees and any repair that
benefits only the Premises. 
  
 12. Tenant-Made Alterations and
Trade Fixtures. Any alterations, additions, or improvements made by or on behalf of Tenant to the Premises (“Tenant-Made Alterations”) having a value in excess of $25,000 shall be subject to Landlord’s prior written consent, which
shall not be unreasonably withheld. Tenant shall cause, at its expense, all Tenant-Made Alterations to comply with insurance requirements and with Legal Requirements and shall construct at its expense any alteration or modification required by Legal
Requirements as a result of any Tenant-Made Alterations. All Tenant-Made Alterations shall be constructed in a good and workmanlike manner by contractors reasonably acceptable to Landlord and only good grades of materials shall be used. All plans
and specifications for any Tenant-Made Alterations shall be submitted to Landlord for its approval. Landlord may monitor construction of the Tenant-Made Alterations. Tenant shall reimburse Landlord for its costs in reviewing plans and specifications
and in monitoring construction. Landlord’s right to review plans and specifications and to monitor construction shall be solely for its own benefit, and Landlord shall have no duty to see that such plans and specifications or construction
comply with applicable laws, codes, rules and regulations. Tenant shall provide Landlord with the identities and mailing addresses of all persons performing work or supplying materials, prior to beginning such construction, and Landlord may post on
and about the Premises notices of non-responsibility pursuant to applicable law. Tenant shall furnish security or make other arrangements satisfactory to Landlord to assure payment for the completion of all work free and clear of liens and shall
provide certificates of insurance for worker’s compensation and other coverage in amounts and from an insurance company satisfactory to Landlord protecting Landlord against liability for personal injury or property damage during construction.
Upon completion of any Tenant-Made Alterations, Tenant shall deliver to Landlord sworn statements setting forth the names of all contractors and subcontractors who did work on the Tenant-Made Alterations and final lien waivers from all such
contractors and subcontractors. Upon surrender of the Premises, all Tenant-Made Alterations and any leasehold improvements constructed by Landlord or Tenant shall remain on the Premises as Landlord’s property, except to the extent Landlord
requires removal at Tenant’s expense of any such items or Landlord and Tenant have otherwise agreed in writing in connection with Landlord’s consent to any Tenant-Made Alterations. Tenant shall repair any damage caused by such removal.

  
 Tenant, at its own cost and expense and without
Landlord’s prior approval, may erect such shelves, bins, machinery and trade fixtures (collectively “Trade Fixtures”) in the ordinary course of its business provided that such items do not alter the basic character of the Premises, do
not overload or damage the Premises, and may be removed without injury to the Premises, and the construction, erection, and installation thereof complies with all Legal Requirements and with Landlord’s requirements set forth above. Tenant shall
remove its Trade Fixtures and shall repair any damage caused by such removal. 
  

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 13. Signs. Tenant shall not make any changes to the exterior of the Premises, install any exterior
lights, decorations, balloons, flags, pennants, banners, or painting, or erect or install any signs, windows or door lettering, placards, decorations, or advertising media-of any type which can be viewed from the exterior of the Premises, without Landlord’s prior written consent. Upon surrender or vacation of the Premises,
Tenant shall have removed all signs and repair, paint, and/or replace the building facia surface to which its signs are attached. Tenant shall obtain all applicable governmental permits and approvals for sign and exterior treatments. All signs,
decorations, advertising media, blinds, draperies and other window treatment or bars or other security installations visible from outside the Premises shall be subject to Landlord’s approval and conform in all respects to Landlord’s
requirements. 
  
 14. Parking. Tenant shall be entitled to
park in common with other tenants of the Project in those areas designated for nonreserved parking. Landlord may allocate parking spaces among Tenant and other tenants in the Project if Landlord determines that such parking facilities are becoming
crowded. Landlord shall not be responsible for enforcing Tenant’s parking rights against any third parties. 
  
 15. Restoration. If at any time during the Lease Term the Premises are damaged by a fire or other casualty, Landlord shall notify Tenant within 60
days after such damage as to the amount of time Landlord reasonably estimates it will take to restore the Premises. If the restoration time is estimated to exceed 4 months, either Landlord or Tenant may elect to terminate this Lease upon notice to
the other party given no later than 30 days after Landlord’s notice. If neither party elects to terminate this Lease or if Landlord estimates that restoration will take 4 months or less, then, subject to receipt of sufficient insurance
proceeds, Landlord shall promptly restore the Premises excluding the improvements installed by Tenant or by Landlord and paid by Tenant, subject to delays arising from the collection of insurance proceeds or from Force Majeure events. Tenant at
Tenant’s expense shall promptly perform, subject to delays arising from the collection of insurance proceeds, or from Force Majeure events, all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises
and commence doing business in accordance with this Lease. Notwithstanding the foregoing, either party may terminate this Lease if the Premises are damaged during the last year of the Lease Term and Landlord reasonably estimates that it will take
more than one month to repair such damage. Base Rent and Operating Expenses shall be abated for the period of repair and restoration in the proportion which the area of the Premises, if any, which is not usable by Tenant bears to the total area of
the Premises. Such abatement shall be the sole remedy of Tenant, and except as provided herein, Tenant waives any right to terminate the Lease by reason of damage or casualty loss. 
  
 16. Condemnation. If any part of the Premises or the Project should be taken for any public or quasi-public use under
governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking” or “Taken”), and the Taking would prevent or materially interfere with Tenant’s use of the
Premises or in Landlord’s judgment would materially interfere with or impair its ownership or operation of the Project, then upon sixty (60) days written notice by Landlord this Lease shall terminate and Base Rent shall be apportioned as of
said date. If part of the Premises shall be Taken, and this Lease is not terminated as provided above, the Base Rent payable hereunder during the unexpired Lease Term shall be reduced to such extent as may be fair and reasonable under the
circumstances. In the event of any such Taking, Landlord shall be entitled to receive the entire price or award from any such Taking without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s 

  

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interest, if any, in such award. Tenant shall have the right, to the extent that same shall not diminish Landlord’s award, to make a separate claim
against the condemning authority (but not Landlord) for such compensation as may be separately awarded or recoverable by Tenant for moving expenses and damage to Tenant’s Trade Fixtures, if a separate award for such items is made to Tenant.

  
 17. Assignment and Subletting. Without Landlord’s
prior written consent, which shall not be unreasonably withheld, Tenant shall not assign this Lease or sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or grant any concession or license within the
Premises and any attempt to do any of the foregoing shall be void and of no effect. For purposes of this paragraph, a transfer of the ownership interests controlling Tenant shall be deemed an assignment of this Lease unless such ownership interests
are publicly traded. Notwithstanding the above, Tenant may assign or sublet the Premises, or any part thereof, to any entity controlling Tenant, controlled by Tenant or under common control with Tenant (a “Tenant Affiliate”), without the
prior written consent of Landlord. Tenant shall reimburse Landlord for all of Landlord’s reasonable out-of-pocket expenses in connection with any assignment or sublease. Upon Landlord’s receipt of Tenant’s written notice of a desire
to assign or sublet the Premises, or any part thereof (other than to a Tenant Affiliate), Landlord may, by giving written notice to Tenant within 30 days after receipt of Tenant’s notice, terminate this Lease with respect to the space described
in Tenant’s notice, as of the date specified in Tenant’s notice for the commencement of the proposed assignment or sublease. 
  
 Notwithstanding any assignment or subletting, Tenant and any guarantor or surety of Tenant’s obligations under this Lease shall at all times remain
fully responsible and liable for the payment of the rent and for compliance with all of Tenant’s other obligations under this Lease (regardless of whether Landlord’s approval has been obtained for any such assignments or sublettings). In
the event that the rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other consideration therefor or incident thereto) exceeds the rental payable under this
Lease, then Tenant shall be bound and obligated to pay Landlord as additional rent hereunder all such excess rental and other excess consideration within 10 days following receipt thereof by Tenant. 
  
 If this Lease be assigned or if the Premises be subleased (whether in whole
or in part) or in the event of the mortgage, pledge, or hypothecation of Tenant’s leasehold interest or grant of any concession or license within the Premises or if the Premises be occupied in whole or in part by anyone other than Tenant, then
upon a default by Tenant hereunder Landlord may collect rent from the assignee, sublessee, mortgagee, pledgee, party to whom the leasehold interest was hypothecated, concessionee or licensee or other occupant and, except to the extent set forth in
the preceding paragraph, apply the amount collected to the next rent payable hereunder; and all such rentals collected by Tenant shall be held in trust for Landlord and immediately forwarded to Landlord. No such transaction or collection of rent or
application thereof by Landlord, however, shall be deemed a waiver of these provisions or a release of Tenant from the further performance by Tenant of its covenants, duties, or obligations hereunder. 
  
 18. Indemnification. Except for the negligence of Landlord, its
agents, employees or contractors, and to the extent permitted by law, Tenant agrees to indemnify, defend and hold harmless Landlord, and Landlord’s agents, employees and contractors, from and against any and all losses, liabilities, damages,
costs and expenses (including attorneys’ fees) resulting from claims by third parties for injuries to any person and damage to or theft or misappropriation or 

  

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loss of property occurring in or about the Project and arising from the use and occupancy of the Premises or from any activity, work, or thing done,
permitted or suffered by Tenant in or about the Premises or due to any other act or omission of Tenant, its subtenants, assignees, invitees, employees, contractors and agents. The furnishing of insurance required hereunder shall not be deemed to
limit Tenant’s obligations under this Paragraph 18. 
  
 19.
Inspection and Access. Landlord and its agents, representatives, and contractors may enter the Premises at any reasonable time to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any
other business purpose. Landlord and Landlord’s representatives may enter the Premises during business hours for the purpose of showing the Premises to prospective purchasers and, during the last year of the Lease Term, to prospective tenants.
Landlord may erect a suitable sign on the Premises stating the Premises are available to let or that the Project is available for sale. Landlord may grant easements, make public dedications, designate common areas and create restrictions on or about
the Premises, provided that no such easement, dedication, designation or restriction materially interferes with Tenant’s use or occupancy of the Premises. At Landlord’s request, Tenant shall execute such instruments as may be necessary for
such easements, dedications or restrictions. 
  
 20. Quiet
Enjoyment. If Tenant shall perform all of the covenants and agreements herein required to be performed by Tenant, Tenant shall, subject to the terms of this Lease, at all times during the Lease Term, have peaceful and quiet enjoyment of the
Premises against any person claiming by, through or under Landlord. 
  
 21. Surrender. Upon termination of the Lease Term or earlier termination of Tenant’s right of possession, Tenant shall surrender the Premises to Landlord in the same condition as received, broom clean, ordinary wear and tear and
casualty loss and condemnation covered by Paragraphs 15 and 16 excepted. Any Trade Fixtures, Tenant-Made Alterations and property not so removed by Tenant as permitted or required herein including the fenced or block wall enclosure in the rear of
the Premises as depicted in the site plan attached hereto as Exhibit B, shall be deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages
resulting from Landlord’s retention and disposition of such property. All obligations of Tenant hereunder not fully performed as of the termination of the Lease Term shall survive the termination of the Lease Term, including without limitation,
indemnity obligations, payment obligations with respect to Operating Expenses and obligations concerning the condition and repair of the Premises. Landlord and Tenant acknowledge that the Security Deposit being given by Tenant to Landlord is to be
applied first against the cost of removing the fenced or block wall enclosure in the rear of the Premises, in the event that Tenant does not remove that enclosure itself at Tenant’s own cost, prior to or upon surrender of the Premises.

  
 22. Holding Over. If Tenant retains possession of the
Premises after the termination of the Lease Term, unless otherwise agreed in writing, such possession shall be subject to immediate termination by Landlord at any time, and all of the other terms and provisions of this Lease (excluding any expansion
or renewal option or other similar right or option) shall be applicable during such holdover period, except that Tenant shall pay Landlord from time to time, upon demand, as Base Rent for the holdover period, an amount equal to 150% of the Base Rent
in effect on the termination date, computed on a monthly basis for each month or part thereof during such holding over. All other payments shall continue under the terms of this Lease. In addition, Tenant shall be liable for all damages incurred by
Landlord as a result of such holding 

  

 10 

 
over. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and
this Paragraph 22 shall not be construed as consent for Tenant to retain possession of the Premises. 
  
 23. Events of Default. Each of the following events shall be an event of default (“Event of Default”) by Tenant under this Lease:

  
 (i) Tenant shall fail to pay any installment
of Base Rent or any other payment required herein when due, and such failure shall continue for a period of 5 days from the date such payment was due and written notice received. 
  
 (ii) Tenant or any guarantor or surety of Tenant’s obligations hereunder shall (A) make a general
assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement,
adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property (collectively a “proceeding
for relief”); (C) become the subject of any proceeding for relief which is not dismissed within 60 days of its filing or entry; or (D) die or suffer a legal disability (if Tenant, guarantor, or, surety is an individual) or be dissolved or
otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity). 
  
 (iii) Any insurance required to be maintained by Tenant pursuant to this Lease shall be cancelled or terminated or shall expire or shall
be reduced or materially changed, except, in each case, as permitted in this Lease. 
  
 (iv) Tenant shall not occupy or shall vacate the Premises or shall fail to continuously operate its business at the Premises for the
permitted use set forth herein, whether or not Tenant is in monetary or other default under this Lease. See Addendum 8 (Vacation of Premises). 
  
 (v) Tenant shall attempt or there shall occur any assignment, subleasing or other transfer of Tenant’s interest in or with respect to
this Lease except as otherwise permitted in this Lease. 
  
 (vi) Tenant shall fail to discharge any lien placed upon the Premises in violation of this Lease within 30 days after any such lien or encumbrance is filed against the Premises. 
  
 (vii) Tenant shall fail to comply with any provision of this
Lease other than those specifically referred to in this Paragraph 23, and except as otherwise expressly provided herein, such default shall continue for more than 30 days after Landlord shall have given Tenant written notice of such default.

  
 24. Landlord’s Remedies. Upon each occurrence of
an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided)
and/or pursue any other remedies at law or in equity. Upon the termination of this 

  

 11 

 
Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, with formal demand or notice of any kind, to re-enter the
Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and
use, or remove and store, all of the furniture, fixtures and equipment at the Premises. 
  
 If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the
Premises, including without limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the
Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base
Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration
date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and
other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill rate at the date of such termination. 
  
 If Landlord terminates Tenant’s right of possession (but not this Lease), Landlord may, but shall be under no
obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For
the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord
as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts
accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for
retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys’ fees and costs of suit), all of the costs and expense of repairs, changes,
alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid,
then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time.
Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. 
  

Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the
Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement 

  

 12 

 
of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of
this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to
the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a
waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such
breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s
intention to re-enter as provided for in any statute, or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge. The terms
“enter,” “re-enter,” “entry” or “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on such terms and conditions as Landlord in its
sole discretion may determine (including without limitation a term different than the remaining Lease Term, rental concessions, alterations and repair of the Premises, lease of less than the entire Premises to any tenant and leasing any or all other
portions of the Project before reletting the Premises). Landlord shall not be liable, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of such
reletting. 
  
 25. Tenant’s Remedies/Limitation of
Liability. Landlord shall not be in default hereunder unless Landlord fails to perform any of its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature of
the obligation, require a period of time in excess of 30 days, then after such period of time as is reasonably necessary). All obligations of Landlord hereunder shall be construed as covenants, not conditions; and, except as may be otherwise
expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. All obligations of Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the
Premises and not thereafter. The term “Landlord” in this Lease shall mean only the owner, for the time being of the Premises, and in the event of the transfer by such owner of its interest in the Premises, such owner shall thereupon be
released and discharged from all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Lease Term upon each new owner for the duration of such owner’s ownership. Any liability of Landlord under this Lease
shall be limited solely to its interest in the Project, and in no event shall any personal liability be asserted against Landlord in connection with this Lease nor shall any recourse be had to any other property or assets of Landlord. 
  
 26. Waiver of Jury Trial. TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL
BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. 
  
 27.
Subordination. This Lease and Tenant’s interest and rights hereunder are and shall be subject and subordinate at all times to the lien of any first mortgage, now existing or 

  

 13 

 
hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing,
assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant. Tenant agrees, at the election of the holder of any such mortgage, to attorn to any such holder. Tenant agrees upon demand to execute,
acknowledge and deliver such instruments, confirming such subordination and such instruments of attornment as shall be requested by any such holder. Notwithstanding the foregoing, any such holder may at any time subordinate its mortgage to this
Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such mortgage without regard to their respective dates of execution, delivery or recording and in that event such holder shall
have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such mortgage and had been assigned to such holder. The term “mortgage” whenever used in this Lease
shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “holder” of a mortgage shall be deemed to include the beneficiary under a deed of trust. 
  
 28. Mechanic’s Liens. Tenant has no express or implied authority
to create or place any lien or encumbrance of any kind upon, or in any manner to bind the interest of Landlord or Tenant in, the Premises or to charge the rentals payable hereunder for any claim in favor of any person dealing with Tenant, including
those who may furnish materials or perform labor for any construction or repairs. Tenant covenants and agrees that it will pay or cause to be paid all sums legally due and payable by it on account of any labor performed or materials furnished in
connection with any work performed on the Premises and that it will save and hold Landlord harmless from all loss, cost or expense based on or arising out of asserted claims or liens against the leasehold estate or against the interest of Landlord
in the Premises or under this Lease. Tenant shall give Landlord immediate written notice of the placing of any lien or encumbrance against the Premises and cause such lien or encumbrance to be discharged within 30 days of the filing or recording
thereof; provided, however, Tenant may contest such liens or encumbrances as long as such contest prevents foreclosure of the lien or encumbrance and Tenant causes such lien or encumbrance to be bonded or insured over in a manner satisfactory to
Landlord within such 30 day period. 
  
 29. Estoppel
Certificates. Tenant agrees, from time to time, within 10 days after request of Landlord, to execute and deliver to Landlord, or Landlord’s designee, any estoppel certificate requested by Landlord, stating that this Lease is in full force
and effect, the date to which rent has been paid, that Landlord is not in default hereunder (or specifying in detail the nature of Landlord’s default), the termination date of this Lease and such other matters pertaining to this Lease as may be
requested by Landlord. Tenant’s obligation to furnish each estoppel certificate in a timely fashion is a material inducement for Landlord’s execution of this Lease. No cure or grace period provided in this Lease shall apply to
Tenant’s obligations to timely deliver an estoppel certificate. Tenant hereby irrevocably appoints Landlord as its attorney in fact to execute on its behalf and in its name any such estoppel certificate if Tenant fails to execute and deliver
the estoppel certificate within 10 days after Landlord’s written request thereof. 
  
 30. Environmental Requirements. Except for Hazardous Material contained in products used by Tenant in de minimis quantities for ordinary cleaning and office purposes and Hazardous Material used, sold or stored
by Tenant in the ordinary course of its business, as described in Addendum 9, Tenant shall not permit or cause any party to bring any Hazardous Material upon the Premises or transport, store, use, generate, manufacture or release any 

  

 14 

 
Hazardous Material in or about the Premises without Landlord’s prior written consent. Tenant, at its sole cost and expense, shall operate its business
in the Premises in strict compliance with all Environmental Requirements and shall remediate in a manner satisfactory to Landlord any Hazardous Materials released on or from the Project by Tenant, its agents, employees, contractors, subtenants or
invitees. Tenant shall complete and certify to disclosure statements as requested by Landlord from time to time relating to Tenant’s transportation, storage, use, generation, manufacture or release of Hazardous Materials on the Premises. The
term “Environmental Requirements” means all applicable present and future statutes, regulations, ordinances, rules, codes, judgments, orders or other similar enactments of any governmental authority or agency regulating or relating to
health, safety, or environmental conditions on, under, or about the Premises or the environment, including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and
Recovery Act; and all state and local counterparts thereto, and any regulations or policies promulgated or issued thereunder. The term “Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant
listed or defined as hazardous or toxic, under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof, natural gas liquids, liquified natural gas, or synthetic gas usable for fuel (or mixtures of natural
gas and such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of Tenant’s “facility” and the “owner” of all Hazardous Materials brought on the Premises by
Tenant, its agents, employees, contractors or invitees, and the wastes, by-products, or residues generated, resulting, or produced therefrom. 
  
 Tenant shall indemnify, defend, and hold Landlord harmless from and against any and all losses (including, without limitation, diminution in value of the
Premises or the Project and loss of rental income from the Project), claims, demands, actions, suits, damages (including, without limitation, punitive damages), expenses (including, without limitation, remediation, removal, repair, corrective
action, or cleanup expenses), and costs (including, without limitation, actual attorneys’ fees, consultant fees or expert fees and including, without limitation, removal or management of any asbestos brought into the property or disturbed in
breach of the requirements of this Paragraph 30, regardless of whether such removal or management is required by law) which are brought or recoverable against, or suffered or incurred by Landlord as a result of any release of Hazardous Materials for
which Tenant is obligated to remediate as provided above or any other breach of the requirements under this Paragraph 30 by Tenant, its agents, employees, contractors, subtenants, assignees or invitees, regardless of whether Tenant had knowledge of
such noncompliance. The obligations of Tenant under this Paragraph 30 shall survive any termination of this Lease. 
  
 Landlord shall have access to, and a right to perform inspections and tests of, the Premises to determine Tenant’s compliance with Environmental
Requirements, its obligations under this Paragraph 30, or the environmental condition of the Premises. Access shall be granted to Landlord upon Landlord’s prior notice to Tenant and at such times so as to minimize, so far as may be reasonable
under the circumstances, any disturbance to Tenant’s operations. Such inspections and tests shall be conducted at Landlord’s expense, unless such inspections or tests reveal that Tenant has not complied with any Environmental Requirement,
in which case Tenant shall reimburse Landlord for the reasonable cost of such inspection and tests. Landlord’s receipt of or satisfaction with any environmental assessment in no way waives any rights that Landlord holds against Tenant.
Notwithstanding anything to the contrary in this Paragraph 30, Tenant shall have no liability of any kind to Landlord as to Hazardous Materials existing on the 

  

 15 

 
Premises prior to Tenant’s occupancy of the Premises or as to Hazardous Materials caused or permitted by (i) Landlord, its agents, employees,
contractors or invitees; or (ii) any other tenants in the Project or their agents, employees, contractors, subtenants, assignees, or invitees; or (iii) any other person or entity located outside of the Premises or the Project (including, without
limitation, migration of Hazardous Materials caused by any person or entity, other than Tenant, its agents, employees, contractors, assignees, subtenants or invitees). 
  
 31. Rules and Regulations. Tenant shall, at all times during the Lease Term and any extension thereof comply with all
reasonable rules and regulations at any time or from time to time established by Landlord covering use of the Premises and the Project. The current rules and regulations are attached hereto. In the event of any conflict between said rules and
regulations and other provisions of this Lease, the other terms and provisions of this Lease shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the Project. 

 
 32. Security Service. Tenant acknowledges and agrees that, while
Landlord may patrol the Project, Landlord is not providing any security services with respect to the Premises and that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with respect to, any loss by theft or any
other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any other breach of security with respect to the Premises. 
  
 33. Force Majeure. Landlord shall not be held responsible for delays in the performance of its obligations hereunder
when caused by strikes, lockouts, labor disputes, acts of God, inability to obtain labor or materials or reasonable substitutes therefor, governmental restrictions, governmental regulations, governmental controls, delay in issuance of permits, enemy
or hostile governmental action, civil commotion, fire or other casualty, and other causes beyond the reasonable control of landlord (“Force Majeure”). 
  

34. Entire Agreement. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof. No
representations, inducements, promises or agreements, oral or written, have been made by Landlord or Tenant, or anyone acting on behalf of Landlord or Tenant, which are not contained herein, and any prior agreements, promises, negotiations, or
representations are superseded by this Lease. This Lease may not be amended except by an instrument in writing signed by both parties hereto. 
  
 35. Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws, then and in that
event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby. It is also the intention of the parties to this Lease that in lieu of each clause or provision of this Lease that is illegal, invalid or
unenforceable, there be added, as apart of this Lease, a clause or provision as similar in terms to such illegal, invalid or unenforceable clause or provision as may be possible and be legal, valid and enforceable. 
  
 36. Brokers. Tenant represents and warrants that it has dealt with no
broker, agent or other person in connection with this transaction and that no broker, agent or other person brought about this transaction, other than the broker, if any, set forth on the first page of this Lease, and Tenant agrees to indemnify and
hold Landlord harmless from and against any claims by any other broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with Tenant with regard to this leasing transaction. 
  

 16 

 37. Miscellaneous. (a) Any payments or charges due from Tenant to Landlord hereunder shall be
considered rent for all purposes of this Lease. 
  
 (b) If and
when included within the term “Tenant,” as used in this instrument, there is more than one person, firm or corporation, each shall be jointly and severally liable for the obligations of Tenant. 
  
 (c) All notices required or permitted to be given under this Lease shall be
in writing and shall be sent by registered or certified mail, return receipt requested, or by a reputable national overnight courier service, postage prepaid, or by hand delivery addressed to the parties at their addresses below, and with a copy
sent to Landlord at 14100 East 35th Place, Aurora, Colorado 80011. Either party may by notice given aforesaid change its address for all subsequent notices. Except where otherwise expressly provided to the contrary, notice shall be deemed
given upon delivery. 
  
 (d) Except as otherwise expressly
provided in this Lease or as otherwise required by law, Landlord retains the absolute right to withhold any consent or approval. 
  
 (e) At Landlord’s request from time to time Tenant shall furnish Landlord with true and complete copies of its most recent annual and quarterly
financial statements prepared by Tenant or Tenant’s accountants and any other financial information or summaries that Tenant typically provides to its lenders or shareholders. Tenant may satisfy this requirement by providing Landlord with most
recent copy of 10K or 10Q. 
  
 (f) Neither this Lease nor a
memorandum of lease shall be filed by or on behalf of Tenant in any public record. Landlord may prepare and file, and upon request by Landlord Tenant will execute, a memorandum of lease. 
  
 (g) The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of this Lease or any exhibits or amendments hereto. 
  
 (h) The submission by Landlord to Tenant of this Lease shall have no binding force or effect, shall not constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either
party until execution of this Lease by both parties. 
  
 (i) Words
of any gender used in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, unless the context otherwise requires. The captions inserted in this Lease are for
convenience only and in no way define, limit or otherwise describe the scope or intent of this Lease, or any provision hereof, or in any way affect the interpretation of this Lease. 
  
 (j) Any amount not paid by Tenant within 5 days after its due date in accordance with the terms of this Lease shall bear
interest from such due date until paid in full at the lesser of the highest rate permitted by applicable law or 8 percent per year. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law governing the maximum
rate or 

  

 17 

 
amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so as to render usurious any interest
called for under this Lease, or contracted for, charged, taken, reserved, or received with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord be credited on
the applicable obligation (or, if the obligation has been or would thereby be paid in full, refunded to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced, without
the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder. 
  
 (k) Construction and interpretation of this Lease shall be governed by the laws of the state in which the Project is
located, excluding any principles of conflicts of laws. 
  
 (l)
Time is of the essence as to the performance of Tenant’s obligations under this Lease. 
  
 (m) All exhibits and addenda attached hereto are hereby incorporated into this Lease and made a part hereof. In the event of any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or
addenda shall control. 
  
 (n) In the event Landlord initiates
litigation to enforce the terms and provisions of this Lease, the Tenant in such action shall reimburse Landlord for any and all costs incurred by Landlord in prosecuting such action, including (without limitation) attorney’s fees, filing fees,
and court costs. 
  
 38. (deleted) 
  
 39. Radon Gas. Radon is a naturally occurring radioactive gas, that
when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional
information regarding radon and radon testing may be obtained from your county public health unit. 
  
 40. Limitation of Liability of Trustee, Shareholders, and Officers of ProLogis. Any obligation or liability whatsoever of ProLogis, a Maryland real
estate investment trust, which may arise at any time under this Lease or any obligation or liability which may be incurred by it pursuant to any other instrument, transaction, or undertaking contemplated hereby shall not be personally binding upon,
nor shall resort for the enforcement thereof be had to the property of its trustees, directors, shareholders, officers, employees or agents, regardless of whether such obligation or liability is in the nature of contract, tort, or otherwise.

  

 18 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year first above
written. 
  

							
	TENANT:	 	LANDLORD:
		
	Leslie’s Poolmart, Inc.	 	 PROLOGIS, a Maryland real
 estate investment
trust

				
	 By:
	 	 /s/ Donald J. Anderson

	 	By:	 	 /s/ Charles E. Sullivan

	 Name:
	 	Donald J. Anderson	 	Name:	 	Charles E. Sullivan
	 Title:
	 	Executive Vice President & CFO	 	Title:	 	Senior Vice President
		
	Address:	 	Address:
		
	 3925 E. Broadway Road
 Suite 100

Phoenix, AZ 85040
	 	 4105-A 34th Street
 Orlando, FL
32811

		
	WITNESSES AS TO TENANT:	 	WITNESSES AS TO LANDLORD:
		
	 /s/

	 	 /s/

	 /s/

	 	 /s/

  

 19Lease dated as of October 31, 2000 between Broadway Business Center LLC.

 Exhibit 10.14 
  
 LEASE 
  
 BY AND BETWEEN 
  
 BROADWAY BUSINESS CENTER LLC 
  
 AND 
  
 LESLIE’S POOLMART,
INC. 
  
 October 31, 2000 

					
	 ARTICLE I REFERENCE DATA
	  	1
			
	1.1	  	BASIC LEASE TERMS.	  	1
			
	1.2	  	EXHIBITS.	  	3
		
	 ARTICLE II PREMISES AND TERM
	  	3
			
	2.1	  	PREMISES.	  	3
			
	2.2	  	APPURTENANT RIGHTS AND RESERVATIONS.	  	4
			
	2.3	  	TERM.	  	4
		
	 ARTICLE III DELIVERY OF PREMISES; CONSTRUCTION
	  	4
			
	3.1	  	INITIAL CONSTRUCTION.	  	4
			
	3.2	  	DELIVERY OF POSSESSION AND COMMENCEMENT DATE.	  	4
			
	3.3	  	CONCLUSIVENESS OF LANDLORD’S PERFORMANCE.	  	5
			
	3.4	  	GENERAL PROVISIONS APPLICABLE TO CONSTRUCTION.	  	5
		
	 ARTICLE IV RENT
	  	6
			
	4.1	  	BASE RENT.	  	6
			
	4.2	  	ADDITIONAL RENT.	  	7
			
	4.3	  	REAL PROPERTY TAXES.	  	7
			
	4.4	  	CAM EXPENSES.	  	8
			
	4.5	  	PAYMENTS.	  	9
		
	 ARTICLE V LANDLORD’S COVENANTS
	  	10
			
	5.1	  	LANDLORD’S COVENANTS DURING THE TERM	  	10
			
	5.2	  	INTERRUPTIONS.	  	11
		
	 ARTICLE VI TENANT’S COVENANTS
	  	12
			
	6.1	  	TENANT’S COVENANTS DURING THE TERM.	  	12
		
	 ARTICLE VII CASUALTY AND TAKING
	  	17
			
	7.1	  	CASUALTY AND TAKING.	  	17

  

 i 

					
	7.2	  	RESERVATION OF AWARD.	  	17
		
	ARTICLE VIII RIGHTS OF MORTGAGEE	  	18
			
	8.1	  	SUBORDINATION.	  	18
			
	8.2	  	SUCCESSOR LANDLORD.	  	18
		
	ARTICLE IX DEFAULT	  	19
			
	9.1	  	EVENTS OF DEFAULT.	  	19
			
	9.2	  	TENANT’S OBLIGATIONS AFTER TERMINATION.	  	20
			
	9.3	  	LANDLORD DEFAULT.	  	20
		
	ARTICLE X MISCELLANEOUS	  	21
			
	10.1	  	NOTICES FROM ONE PARTY TO THE OTHER.	  	21
			
	10.2	  	BIND AND INURE.	  	21
			
	10.3	  	NO SURRENDER.	  	21
			
	10.4	  	NO WAIVER, ETC.	  	21
			
	10.5	  	NO ACCORD AND SATISFACTION.	  	22
			
	10.6	  	CUMULATIVE REMEDIES.	  	22
			
	10.7	  	LANDLORD’S RIGHT TO CURE.	  	22
			
	10.8	  	ESTOPPEL CERTIFICATE.	  	22
			
	10.9	  	WAIVER OF JURY TRIAL.	  	23
			
	10.10	  	ACTS OF GOD.	  	23
			
	10.11	  	BROKERAGE.	  	23
			
	10.12	  	SUBMISSION NOT AN OFFER.	  	23
			
	10.13	  	APPLICABLE LAW AND CONSTRUCTION.	  	23
			
	10.14	  	EXTENSION OPTION.	  	24
			
	10.15	  	SIGNS.	  	25
			
	10.17	  	ACKNOWLEDGMENT OF LENDER’S LIEN.	  	25

  

 ii 

 EXHIBITS 
  

					
	 EXHIBIT A
	  	 PLAN OF PREMISES
	  	A-1
			
	 EXHIBIT A-1
	  	 LEGAL DESCRIPTION AND PLAN OF PROPERTY
	  	A-1-1
			
	 EXHIBIT B
	  	 WORK LETTER
	  	B-1

  

 iii 

 ARTICLE I 
  

REFERENCE DATA 
  
 1.1 BASIC LEASE TERMS. 
  
 Each reference in this Lease to any of the following subjects shall be construed to incorporate the data stated for that subject in this Section 1.1:

  

			
	 LANDLORD:
	 	 Broadway Business Center LLC, a
 Massachusetts limited
liability company

		
	 LANDLORD’S NOTICE ADDRESS:
	 	 c/o Great Point Investors LLC
 265 Franklin Street,
18th Floor
 Boston, MA 02110
 Attn: John H. Baxter
  
 with a copy to:
  
 Bancroft Capital Advisors, Inc.
 1112 Ocean
Drive, Suite 300
 Manhattan Beach, CA
 Attn: Douglas J.
McDonald
  
 Rent payments to:
  
 c/o Trammell Crow Company
 P.O. Box 52673
 Phoenix. AZ 85072-2673

		
	 TENANT:
	 	  
 Leslie’s Poolmart, Inc., a Delaware corporation
  

		
	 TENANT’S NOTICE ADDRESS:
	 	 Prior to the Commencement Date:
  
 CONFIDENTIAL
 20630 Plummer Street
 Chatsworth, CA 91311
 Attn: Legal
  
 And a copy to:
  
 Foothill Capital Corp.
 2450 Colorado
Avenue
 Suite 3000 West
 Santa Monica, CA 90404
  
 After the Commencement Date:
  
 At the Premises
  
 And a copy to:
  
 Foothill Capital Corp.
 2450 Colorado Avenue
 Suite 3000 West
 Santa Monica, CA 90404

			
	 PREMISES:
	  	Approximately 37,579 rentable square feet on the first floor of the building commonly known as 4620 40th Street, Phoenix, Arizona (the “Building”), which Premises are shown on the plan attached to this Lease as Exhibit A, together with the right, in common with others, to use all
easements, rights and privileges appurtenant to the Premises and the property known as 4620 40th Street and 4500 S.
40th Street, Phoenix, Arizona, which is more fully described in Exhibit A-1 (the “Property”), which
Property is known as Broadway Business Center
		
	 RENTABLE FLOOR AREA OF PREMISES:
	  	Approximately 37,579 rentable square feet
		
	 COMMENCEMENT DATE:
	  	Substantial completion of Landlord’s Work (as provided for in Section 3.1)
		
	 SCHEDULED COMMENCEMENT DATE:
	  	December 14, 2000 with respect to that portion of the space shown on Exhibit A as the “Second Generation Space” and January 3, 2000 with respect to that portion of the space
shown on Exhibit A as the “Shell Space”
		
	 BUILDING RENTABLE AREA:
	  	75,140 rentable square feet
		
	 TENANT’S PRO RATA SHARE:
	  	50% with respect to items relating solely to the Building and 27% with respect to all other items
		
	 EXPIRATION DATE:
	  	The last day of the 75th full calendar month after the
Commencement Date
		
	 TERM:
	  	Approximately six years and three months commencing on the Commencement Date and expiring on the Expiration Date

  

 2 

					
	 OPTION:
	  	One five year extension option
		
	 LEASE YEAR:
	  	The period of twelve full calendar months beginning with the first full calendar month of the Term, and each subsequent period of twelve full calendar months during the
Term
			
	 BASE RENT:
	  	Months 1-3	  	$0.00
	 	  	Months 4-27	  	$27,056.88/month
	 	  	Months 28-39	  	$27,868.59/month
	 	  	Months 40-51	  	$28,706.60/month
	 	  	Months 52-63	  	$29,567.16/month
	 	  	Months 64-75	  	$30,454.02/month
		
	 OPTION BASE RENT:
	  	For each Lease Year: 103% of the Base Rent for the previous Lease Year
		
	 SECURITY DEPOSIT:
	  	None
		
	 PERMITTED USES:
	  	General office purposes
		
	 TENANT IMPROVEMENT ALLOWANCE:
	  	$697,416.00
		
	 PARKING SPACES:
	  	225 unreserved spaces; 10 covered reserved spaces
		
	 BROKERS:
	  	Trammell Crow Company and Grubb & Ellis

  
 1.2 EXHIBITS. 
  
 The exhibits listed below in this section are incorporated in this Lease by
reference and are to be construed as part of this Lease: 
  

			
	 EXHIBIT A
	  	Plan of Premises
		
	 EXHIBIT A-1
	  	Plan of Property and Legal Description of Property
		
	 EXHIBIT B
	  	Work Letter

  
 ARTICLE II

 PREMISES AND TERM 
  
 2.1 PREMISES. 
  
 Landlord hereby leases to Tenant, and Tenant leases from Landlord the Premises for the rents hereinafter reserved, and upon and subject to the terms and
conditions of this Lease. 
  

 3 

 2.2 APPURTENANT RIGHTS AND RESERVATIONS. 
  
 Tenant shall have, as appurtenant to the Premises, the nonexclusive right to use and to permit its invitees to use in common
with others the Common Areas (as defined in Section 4.4) of the Building and the Property. Such rights shall always be subject to reasonable, nondiscriminatory, uniformly applied rules and regulations from time to time established by Landlord by
written notice to Tenant in advance (which rules and regulations do not require structural changes or otherwise unreasonably and adversely affect Tenant’s business) and to the right of Landlord to reasonably designate and change from time to
time any Common Areas provided Tenant is given written notice before any such change and such change does not unreasonably and adversely affect Tenant’s business. 
  
 2.3 TERM. 
  
 The Premises are leased for the Term unless the Term shall sooner terminate pursuant to any of the terms of this Lease or pursuant to Law. 
  
 ARTICLE III 
 DELIVERY OF PREMISES; CONSTRUCTION 
  
 3.1 INITIAL CONSTRUCTION. 
  
 As indicated in the Work Letter Agreement attached hereto as Exhibit B (the “Work Letter”), Landlord shall complete the Landlord’s Work (as defined in the Work Letter) on the terms, conditions and provisions set forth
in the Work Letter. Except for Landlord’s Work, Landlord is leasing the Premises to Tenant “as is,” excluding any latent defects, without any representations or warranties of any kind (including, without limitation, any express or
implied warranties of merchantability, fitness or habitability), subject to all recorded matters, laws, ordinances, codes and governmental regulations and orders. 
  
 3.2 DELIVERY OF POSSESSION AND COMMENCEMENT DATE. 
  
 For purposes of determining the Commencement Date only, the Premises shall be considered as delivered upon the first to
occur of: 
  
 (a) the date on which (i) Landlord or
Landlord’s architect gives notice of Substantial Completion (as hereinafter defined) of Landlord’s Work (provided that Substantial Completion has occurred on said date), and (ii) Landlord has delivered actual possession of the Premises to
Tenant free of all tenants and occupants; or 
  
 (b) if the date
of Substantial Completion of Landlord’s Work is delayed by reason of Tenant Delays (as defined in the Work Letter), the date on which, in Landlord’s architect’s reasonable judgment, provided timely notice of such Tenant Delay was
provided to Tenant, Landlord’s Work would have been Substantially Completed but for such Tenant Delays. 
  
 “Substantial Completion” of Landlord’s Work shall mean (i) completion of Landlord’s Work except for items which can be
completed after Tenant’s occupancy without undue interference with Tenant’s use of the Premises (“Punchlist Items”) and (ii) the issuance of a 

  

 4 

 
certificate of occupancy for the Premises with respect to Landlord’s Work, if such a certificate is issued by the City of Phoenix for such work.
Landlord shall promptly commence and use commercially reasonable efforts to complete or correct all Punchlist Items within thirty days or, if such completion is not feasible for any reason, as soon as conditions permit, and Tenant shall afford
Landlord access to the Premises for such purpose pursuant to the terms of this Lease, provided that Landlord does not unreasonably interfere with Tenant’s use or occupancy of the Premises. Tenant’s acceptance of the Premises shall not
diminish or otherwise affect Landlord’s maintenance or other obligations provided for in this Lease. 
  
 Tenant shall be permitted access to the Premises up to thirty (30) days in advance of the estimated date of Substantial Completion for the purposes of
installing telephone and computer wiring, modular cubicles and furniture in the Premises. Such access shall be conditioned upon (a) delivery to Landlord of a certificate of insurance as required by Section 6.1.9 and (b) Tenant’s activities in
the Premises during, such early access period not unreasonably interfering with or delaying Landlord’s completion of Landlord’s Work. Tenant may use such utilities as are available during the course of pre-possession entry at no cost.

  
 Landlord shall use diligent efforts to deliver the various
portions of the Premises to Tenant on or before the Scheduled Commencement Dates. If delivery of all or a portion of the Premises is delayed as a result of a Landlord Delay (as defined in the Work Letter), Tenant shall receive an abatement of one
day of Base Rent for that portion of the Premises not delivered for each day of delay so caused. Nothing contained in this lease shall cause the Commencement Date to occur until both the “Second Generation Space” and the “Shell
Space” are substantially complete. 
  
 3.3 CONCLUSIVENESS OF
LANDLORD’S PERFORMANCE. 
  
 Except for latent defects,
and except to the extent Tenant shall have given Landlord notice not later than 90 days after the Commencement Date of defects in Landlord’s Work, Tenant shall have no claim that Landlord has failed to perform any of Landlord’s Work.

  
 3.4 GENERAL PROVISIONS APPLICABLE TO CONSTRUCTION. 
  
 Tenant shall not make any installations, alterations, additions, or
improvements in or to the Premises, including, without limitation, any apertures in the walls, partitions, ceilings or floors, without on each occasion obtaining the prior written consent of Landlord, which shall not be unreasonably withheld.
Notwithstanding the foregoing, Tenant may make non-structural, interior alterations to the Premises up to $25,000.00 without first obtaining the prior written consent of Landlord. Tenant shall reimburse Landlord for all reasonable and actual costs
incurred by Landlord or any Superior Mortgagee (as defined below) in reviewing Tenant’s proposed installation, alterations, additions or improvements, and provided further that, in order to protect the functional integrity of the Premises (and
if required by Landlord), all such installations, alterations, additions or improvements shall be performed by contractors selected from a list of approved contractors prepared by Landlord from time to time. Any such work so approved by Landlord
shall be performed only in accordance with plans and specifications therefore approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. Tenant shall procure at Tenant’s sole expense all necessary permits
and licenses 

  

 5 

 
before undertaking any such work on the Premises and shall perform all such work in a good and workmanlike manner employing materials of good quality and so
as to conform with all applicable insurance requirements, laws, ordinances, regulations and orders of governmental authorities. Tenant shall employ for such work only contractors approved by Landlord and shall require all contractors employed by
Tenant to carry worker’s compensation insurance in accordance with statutory requirements and commercial general liability insurance covering such contractors on or about the Premises with a combined single limit not less than $3,000,000 and
shall submit certificates evidencing such coverage to Landlord prior to the commencement of such work. Tenant shall indemnify and hold harmless Landlord from all injury, loss, claims or damage to any person or property occasioned by or growing out
of such work. Landlord may inspect the work of Tenant upon reasonable notice at reasonable times. Upon completion of any such work, Tenant shall provide Landlord with “as built” plans and lien waivers, as applicable, for all labor and
materials. 
  
 Tenant covenants and agrees that with respect to
the carpentry work on any and all alterations, improvements and/or additions that are made to the Premises, Tenant’s construction managers, general contractors and subcontractors shall be signatory to and in good standing under the Carpenters
Union collective bargaining agreement covering the geographical area where the work is performed, and with respect to non-carpentry work, wherever possible, such work shall be performed by contractors signatory to and in good standing under the
collective bargaining agreement of the local building trades union affiliated with the AFL-CIO which covers that work. If the construction manager, general contractor and/or subcontractor with responsibility for the carpentry work is not signatory
to and in good standing under the Carpenters Union’s collective bargaining agreement, then the Landlord shall have the right, upon 24 hours’ written notice to Tenant, to order Tenant to cease all work on the Premises, in which event all
work then in progress shall be halted and shall not be recommenced until and unless Tenant’s construction manager, general contractor and/or subcontractor becomes subject to or covered by and in good standing under the Carpenters Union’s
collective bargaining agreement. The requirements of this paragraph shall cease to apply if the Premises is sold to an entity which does not require same. 
  
 ARTICLE IV 
 RENT 
  
 4.1 BASE RENT. 
  
 Beginning on the Commencement Date, Tenant agrees to pay rent to Landlord without notice or demand and without any offset or
reduction whatever (except as made in accordance with the express provisions of this Lease), equal to the Base Rent in equal installments in advance on the first day of each calendar month included in the Term. If the Commencement Date occurs on a
day other than the first day of a calendar month, Tenant shall pay to Landlord, on the Commencement Date, Base Rent for the partial month after the Commencement Date at the proportionate rate payable for such portion. 
  

 6 

 4.2 ADDITIONAL RENT. 
  
 All sums payable by Tenant under this Lease other than Base Rent shall be deemed “Additional Rent;” the term “Rent” shall mean Base
Rent and Additional Rent. Landlord shall reasonably estimate in advance by written notice to Tenant at least thirty days in advance and beginning on the Commencement Date Tenant shall pay the following costs (the “Total Operating Costs”),
to be paid with the Base Rent throughout the Term in equal monthly installments based on Landlord’s most recent reasonable estimate: (i) all Real Property Taxes for which Tenant is liable under Section 4.3 of the Lease, (ii) all utility costs
(if not separately metered) for which Tenant is liable under Section 6.1.1 of the Lease, and (iii) all CAM Expenses for which Tenant is liable under Section 4.4 of the Lease. Landlord may adjust its estimates of Total Operating Costs at any time
based upon Landlord’s experience and reasonable anticipation of costs, upon at least ten business days prior written notice specifying the reasons for any adjustments. Such adjustments shall be effective as of the next Rent payment date after
notice to Tenant. Within 90 days after the end of each fiscal year (which shall be January 1 through December 31 for this Lease) during the Term, Landlord shall deliver to Tenant a statement (the “Statement”) prepared in accordance with
generally accepted accounting principles setting forth, in reasonable detail, the Total Operating Costs paid and incurred by Landlord during the preceding fiscal year in accordance with this Lease. Within thirty days after Tenant’s receipt of
such Statement, there shall be an adjustment made in good faith between Landlord and Tenant, with payment to or credit given by Landlord (as the case may be) in order that Landlord shall have received the actual amount of Total Operating Costs for
such period. If a credit is due in the final year of any Term for which any option is not, or has not been, exercised, Landlord shall reimburse Tenant by check. Tenant (and its accountants and representatives) shall have the right, within thirty
days of receipt of the Statement, to notify Landlord that it would like to audit Landlord’s books and records with respect to the Total Operating Costs. Such audit is to be performed by a qualified certified public accountant at Tenant’s
sole cost and expense (except as provided in the following sentence) and is to be performed and completed within two months of the receipt of the Statement by Tenant. If such audit reveals that the Total Operating Costs billed to Tenant exceed the
actual Total Operating Costs to have been paid by Tenant by more than ten percent, Landlord shall pay the reasonable costs of such audit and shall reimburse or credit Tenant for any overcharged amount. 
  
 In addition to its obligation to pay Base Rent and Total Operating Expenses,
Tenant is required hereunder to pay directly to suppliers, vendors, carriers, contractors, etc. certain insurance premiums, utility costs, personal property taxes, cleaning and other expenses (collectively “Additional Expenses”). If
Landlord pays for any Additional Expenses in accordance with the terms of this Lease, Tenant’s obligation to reimburse such costs shall be an Additional Rent obligation. Unless this Lease provides otherwise, Tenant shall pay all Additional Rent
then due with the next monthly installment of Base Rent due after Tenant received written notice of the amount of such Additional Rent. 
  
 4.3 REAL PROPERTY TAXES. 
  
 Tenant shall pay its Pro Rata Share of all Real Property Taxes on the Property attributable to any period included in the Term; provided, however, if the
Term includes only a portion of a fiscal tax period, the Real Property Taxes for such period shall be prorated according 

  

 7 

 
to the fraction of the total days in such period falling within the Term, and Tenant shall be responsible for paying only such prorated amount. The term
“Real Property Taxes” shall mean taxes, assessments (special, betterment, or otherwise), levies, fees, rent taxes, impositions, excises, charges, water and sewer rents and charges, and all other government levies and charges, general and
special, ordinary and extraordinary, foreseen and unforeseen, which are imposed or levied upon or assessed against the Premises. If at any time during the term the present system of ad valorem taxation of real property shall be changed so that in
lieu of the whole or any part of the ad valorem tax on real property, or in lieu of increases therein, there shall be assessed on Landlord a capital levy or other tax on the gross rents received with respect to the Property or a federal, state,
county, municipal, or other local income, franchise, excise or similar tax, assessment, levy, or charge (distinct from any now in effect) measured by or based, in whole or in part, upon gross rents, then all of such taxes, assessments, levies, or
charges, to the extent so measured or based, shall be deemed to be a Real Property Tax. Notwithstanding any other provision of this Lease, Real Property Taxes shall not include, and Tenant shall have no obligation to pay, any taxes on
Landlord’s income, rent (except in the case above), profits, business or estate, or any personal property, franchise, gross receipts, inheritance or estate taxes, Landlord’s failure to timely pay taxes (unless caused by Tenant’s
non-payment), nor any administrative fee. Landlord shall use commercially reasonable efforts in determining whether to dispute any Real Property Taxes attributable to any fiscal tax period included wholly or partially within the Term. The cost of
such review and/or contest shall be included in the calculation of Total Operating Costs. 
  
 4.4 CAM EXPENSES. 
  
 “CAM Expenses” are all out-of-pocket costs and expenses paid or incurred by Landlord in connection with the operation and maintenance of the Common Areas (as defined below), the Property and the repair, maintenance and/or,
replacement of the heating, ventilation, air conditioning, plumbing, electrical, utility, and safety systems, including, but not limited to, the following: gardening and landscaping; snow removal; utility, water and sewage services for the Common
Areas or provided to all tenants of the Property; maintenance of signs; worker’s compensation insurance; personal property taxes; rental or lease payments for rented or leased personal property used in the operation or maintenance of the Common
Areas; fees for required licenses and permits; routine maintenance, repair and replacement of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; repair, maintenance and replacement of paving (including sweeping,
striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; payroll of maintenance personnel and management personnel not above the level of property manager; security guards; a property
management fee (not to exceed market rates); and premiums for the insurance carried by Landlord pursuant to Section 5.1.4 of this Lease. Notwithstanding any other provision of this Lease, CAM Expenses shall not, however, include the following: rent
and other concessions, refurbishment and improvement expenses incurred in connection with other tenant’s spaces, leasing commissions, advertising and promotional expenses, legal fees and other costs in leasing and procuring new tenants for the
Property; expenditures for capital improvements except (i) capital expenditures which Landlord reasonably anticipates will have the effect of reducing current and/or future CAM Expenses and (ii) capital expenditures required by laws enacted or
regulations promulgated after the date of this Lease (provided, however, only an amortized portion of any capital expenditures permitted to be included in CAM Expenses shall be included 

  

 8 

 
in CAM Expenses for the year in which the expenditures are incurred and subsequent years, on a straight line basis, over the useful life of the item, with an
interest factor reasonably determined by Landlord in good faith at the time of Landlord’s having incurred said expenditure); cost of repairs or replacements incurred by reason of fire or other casualty or by the exercise of the right of eminent
domain to the extent to which Landlord is compensated therefor through proceeds of insurance or a condemnation award; accounting and legal fees and other expenses incurred in disputes with tenants; costs incurred in performing work or furnishing
services exclusively to or for the benefit of individual tenants or prospective tenants and which are separately billed to such tenants, including, but not limited to painting, redecorating and after hours HVAC; payments of principal, interest and
other charges under any Superior Mortgage or rent and other charges payable under any Superior Lease; salaries, wages, benefits and other expenses of administrative employees and other employees involved in the operation or management of the
Property above the level of property manager; compensation paid to employees or other persons in connection with commercial concessions operated by Landlord; Landlord’s general overhead and general administrative expenses; costs due to
Landlord’s violation of any agreement or law; acquisition costs or any depreciation of land and buildings at the Property; costs due to defective construction of the Property; costs, fees and compensation paid by or to Landlord to any party
affiliated with Landlord to the extent that such costs, fees or compensation exceed those charged by unaffiliated third parties on a competitive basis; costs incurred as a result of the Property violating any valid applicable building code,
regulation, or law in effect prior to the Commencement Date; reserves; and costs arising from the presence of any hazardous materials at the Property (provided such condition is not Tenant’s responsibility under the terms of this Lease).
Notwithstanding the foregoing, when determining CAM Expenses for which Tenant is charged its Pro Rata Share, all controllable CAM Expenses shall not be increased cumulatively by more than 4% each Lease Year. 
  
 As used in this Lease, “Common Areas” shall mean all areas within
the Property which are not part of the rentable areas of the Property including, but not limited to, lobbies, loading docks, cafeterias, parking areas, driveways, sidewalks, access roads, landscaping, and planted areas. Landlord, from time to time,
may change the size, location, nature, and use of any of the Common Areas, convert Common Areas into leasable areas, construct additional parking facilities (including parking structures), and increase or decrease Common Area land or facilities
provided that such change shall not materially interfere with Tenant’s use of the Premises and Common Areas. 
  
 4.5 PAYMENTS. 
  
 All payments of Rent shall be made to Landlord at Landlord’s Notice Address, or to such other person as Landlord may from time to time designate by
written notice to Tenant. If any installment of Rent is paid more than 5 days after written notice from Landlord of such late payment, at Landlord’s election, it shall bear interest from such due date at a rate equal to the average prime
commercial rate from time to time established by FleetBoston plus 4% per annum, which interest shall be immediately due and payable as further Additional Rent. 
  

 9 

 ARTICLE V 
 LANDLORD’S COVENANTS 
  
 5.1
LANDLORD’S COVENANTS DURING THE TERM 
  
 Landlord
covenants during the Term: 
  
 5.1.1 Repairs and
Maintenance. Except as provided in Article VII, Landlord shall perform all maintenance, repairs, improvements and replacements necessary to keep in good condition and working order, and in compliance with all applicable laws, the foundation,
floor slab, columns, exterior walls, floors, roof, roof drainage system and other structural elements of the Building (collectively, “Structural Components”), and the outdoor lighting, sprinkler system, Building electrical system, Building
pipes and plumbing system, all Common Areas, the HVAC system and all other mechanical systems and equipment of the Building not exclusively serving the Premises. Within a reasonable time after receiving actual knowledge thereof, Tenant shall notify
Landlord of any maintenance within the Premises that Landlord is obligated to perform pursuant to this Section 5.1.1 and Landlord shall complete same with reasonable diligence. Landlord shall repair any and all damage or defects caused by the
negligence or intentional act of Landlord, its employees, agents or contractors. 
  
 5.1.2 Quiet Enjoyment. That Landlord has the right to make this Lease and that Tenant on paying the Rent and performing its obligations hereunder shall peacefully and quietly have, hold and enjoy the Premises
throughout the Term without any manner of hindrance, interference or molestation from Landlord or anyone claiming under Landlord, subject however to all the terms and provisions hereof. 
  
 5.1.3 Insurance. During the Term, Landlord shall maintain in effect all risk insurance covering loss of or damage to
the Building and all leasehold and other improvements at the Property in the amount of its replacement value with such endorsements and deductibles as Landlord shall reasonably determine prudent from time to time. Landlord shall have the right to
obtain flood, earthquake, and such other insurance as Landlord shall reasonably determine prudent from time to time or shall be reasonably required by any lender holding a security interest in the Premises. Landlord shall not obtain insurance for
Tenant’s trade fixtures, equipment or leasehold improvements. During the Term, Landlord shall also maintain a rental income insurance policy, with loss payable to Landlord, in an amount equal to one year’s Base Rent, plus estimated Real
Property Taxes, Operating Costs, and insurance premiums. Tenant shall not do or permit anything to be done which shall invalidate any such insurance. Any policy obtained by Landlord shall not be contributory, shall not provide primary insurance, and
shall be excess over any insurance maintained by Tenant. Landlord shall also maintain during the Term a policy of general liability insurance in an amount not less than $3,000,000 combined single limit in any one accident with respect to the
Premises naming Tenant as an additional insured, with a cross-liability endorsement. 
  
 5.1.4 Tenant’s Access. Tenant shall have uninterrupted access to the Premises at all times (24 hours each day and seven days each week). 
  

 10 

 5.1.5 Indemnity. To indemnify and hold harmless Tenant from any liabilities, losses, damages,
costs, expenses (including reasonable attorneys’ fees and expenses), causes of action, suits, claims, demands or judgments arising from any breach by Landlord of its obligations under this Lease or any act of negligence of Landlord or any
Indemnified Parties (as defined in Section 6.1.8), except to the extent arising out of the negligence or willful misconduct of Tenant or its agents, employees, contractors or invitees. 
  
 5.1.6 Environmental Indemnity. To indemnify and hold harmless Tenant from any liabilities, losses, damages, costs,
expenses (including reasonable attorneys’ fees and expenses), causes of action, suits, claims, demands or judgments arising from (a) injury to or death of any person, or damage to or loss of property or (b) any third-party action or any
governmental inquiry or action, resulting from the presence of any hazardous substance (as defined in Section 6.1.4) at the Property (i) as of the date of this Lease or (ii) resulting from the negligence or willful misconduct of Landlord; except to
the extent that any circumstance described above is arising from the negligence or willful misconduct of Tenant, its invitees, agents or contractors. 
  
 5.1.7 ADA. Landlord shall be responsible for ensuring that as of the Commencement Date the Common Areas being used by Tenant comply with the
Americans With Disabilities Act. 
  
 5.2 INTERRUPTIONS. 
  
 Landlord shall not be liable to Tenant for any compensation or reduction of
Rent by reason of necessary inconvenience or annoyance or for loss of business arising from power losses or shortages or from the necessity of Landlord’s entering the Premises for any of the purposes in this Lease authorized, or for repairing
the Premises or any portion thereof in accordance with this Lease. In case Landlord is prevented or delayed from making any repairs, alterations or improvements, or furnishing any service or performing any other covenant or duty to be performed on
Landlord’s part, by reason of any cause beyond Landlord’s reasonable control, Landlord shall not be liable to Tenant therefor, nor, except as expressly otherwise provided in Article VII, shall Tenant be entitled to any abatement or
reduction of rent by reason thereof, nor shall the same give rise to a claim in Tenant’s favor that such failure constitutes actual or constructive, total or partial, eviction from the Premises. 
  
 Landlord reserves the right to stop any service or utility system when
necessary by reason of accident or emergency acting in good faith, until necessary repairs have been completed. Except in case of emergency repairs, Landlord will give Tenant reasonable advance written notice of any contemplated stoppage and will
use reasonable efforts to avoid unnecessary inconvenience to Tenant by reason thereof. 
  
 Landlord also reserves the right, by written notice to Tenant at least 10 days in advance, to institute such policies, programs and measures as may be required to comply with applicable municipal/governmental codes,
rules, regulations or standards. 
  

 11 

 ARTICLE VI 
 TENANT’S COVENANTS 
  
 6.1
TENANT’S COVENANTS DURING THE TERM. 
  
 Tenant covenants
during the Term and such further time as Tenant occupies any part of the Premises: 
  
 6.1.1 Tenant’s Payments. To pay when due (a) all Base Rent and Additional Rent, (b) all taxes which may be imposed on Tenant’s personal property in the Premises (including, without limitation,
Tenant’s fixtures and equipment) regardless to whomever assessed, (c) all charges by public utilities for telephone, electricity and other utility services (including service inspections therefor) rendered to the Premises, and (d) as Additional
Rent, all other charges payable to Landlord pursuant to this Lease. 
  
 6.1.2 Repairs and Yielding Up. Except as otherwise provided in this Lease, at Tenant’s sole expense to keep the Premises in as good order, repair and condition as exists on the Commencement Date or in such improved condition as
it may be put during the Lease Term, normal wear and damage by fire, casualty and eminent domain excepted, and to make all necessary and customary repairs thereto in order to do so; and at the expiration or termination of this Lease peaceably to
yield up the Premises and all changes and additions therein in good order, repair and condition, first removing all goods and effects of Tenant and any Tenant alterations required to be removed by Landlord, and repairing all damage caused by such
removal and restoring the Premises and leaving the Premises clean and neat. At the time that Tenant requests Landlord’s consent to any alterations, Tenant may request that in connection with the granting of such consent, Landlord state whether
such alterations or improvements will need to be removed by Tenant at the end of the Lease Term. Alterations for which Landlord’s consent is not required are not required to be removed. 
  
 6.1.3 Cleaning. At its sole cost and expense enter into a service
contract to provide for the cleaning of the Premises. Such cleaning contracts and the vendors thereunder shall be subject to Landlord’s reasonable approval. 
  
 6.1.4 Occupancy and Use. To use and occupy the Premises only for the Permitted Uses; not to injure or deface the
Premises; not to permit in the Premises any use thereof which is contrary to law or ordinances, or creates a nuisance or to render necessary any alteration or addition to the Building; not to dump, flush, or in any way introduce any hazardous
substances or any other toxic substances into the septic, sewage or other waste disposal system serving the Premises; and not to generate, store or dispose of hazardous substances in or on the Premises or dispose of hazardous substances from the
Premises to any other location without the prior written consent of Landlord, which shall not be unreasonably withheld, delayed or conditioned, and then only in compliance with all applicable laws, ordinances and regulations; to notify Landlord of
any incident which would require the filing of a notice under applicable federal, state, or local law; not to store or dispose of hazardous substances on the Premises without first submitting to Landlord a list of all such hazardous substances and
confirming in writing to Landlord that Tenant has obtained all permits required therefor and thereafter providing to Landlord on an annual basis Tenant’s certification that all such permits have been renewed with copies of such 

  

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renewed permits; and to comply with the orders and regulations of all governmental authorities with respect to zoning, building, fire, health and other
codes, regulations, ordinances or laws, to the extent applicable to Tenant’s particular use of the Premises, including without limitation, the Americans with Disabilities Act. Tenant shall not be so required if such is required of the Property
in general. “Hazardous substances” as used in this paragraph shall mean “hazardous substances” as defined in the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601 and
regulations adopted pursuant to said Act, provided, however, “hazardous substances” shall not include customary quantities of ordinary office and cleaning products, fuel for any generators on the Premises. 
  
 6.1.5 Rules and Regulations/Security. To comply with any reasonable,
nondiscriminatory, uniformly applied rules and regulations hereafter made by Landlord, which do not materially interfere with Tenant’s use of the Premises, of which Tenant has been given notice, for the care and use of the Premises and the
Property. To provide, at its sole cost and expense, any security system serving the Premises. Tenant acknowledges that Landlord is not providing any security system or security guards at the Property. 
  
 6.1.6 Safety Appliances. To keep the Premises equipped with all safety
appliances required by law or ordinance or any other regulation of any public authority because of any particular use made by Tenant and to procure all licenses and permits so required because of such use and, if required by law, to do any work so
required because of such use, it being understood that the foregoing provisions shall not be construed to broaden in any way Tenant’s Permitted Uses. 
  
 6.1.7 Assignment and Subletting. Not without the prior written consent of Landlord to assign this Lease, to make any sublease, or to permit
occupancy of the Premises or any part thereof by anyone other than Tenant, voluntarily or by operation of law; as Additional Rent, to reimburse Landlord promptly for reasonable and customary legal and other expenses (not to exceed $1,000.00)
incurred by Landlord or any Superior Mortgagee in connection with any request by Tenant for consent to assignment or subletting; no assignment or subletting shall affect the continuing primary liability of Tenant (which, following assignment, shall
be joint and several with the assignee); no consent to any of the foregoing in a specific instance shall operate as a waiver in any subsequent instance. Notwithstanding the foregoing, Landlord’s consent will not be unreasonably withheld and any
disapproval shall include a specific reason for same. Landlord’s consent to any proposed assignment or subletting is required both as to the terms and conditions thereof, and as to the creditworthiness of the proposed assignee or subtenant and
the consistency of the proposed assignee’s or subtenant’s business with the Permitted Uses of the Premises. In the event that any assignee or subtenant pays to Tenant any consideration attributable to the interest in this Lease or the
Premises so assigned or subleased in excess of the Rent then payable hereunder, or pro rata portion thereof on a square footage basis for any portion of the Premises, after deducting Tenant’s reasonable attorneys’ fees, brokerage
commissions and other costs, fees and expenses relating to such assignment or sublease. Tenant shall promptly pay 50% of said net excess to Landlord as and when received by Tenant. If Tenant requests Landlord’s consent to assign this Lease or
sublet more than 1/3 of the Premises, or the assignment or sublease term will begin three or fewer months before the end of the Lease Term, Landlord shall have the option, exercisable by written notice to Tenant given within 10 days after receipt of
such request, to terminate this Lease as of a date specified in such notice which shall 

  

 13 

 
be not less than 30 days after the date of such notice. Notwithstanding anything to the contrary contained herein. Tenant shall have the right, without
Landlord’s consent, to assign this Lease or sublet the Premises to a corporation or other entity with which it may merge or consolidate, or in connection with a sale of all or substantially all of its assets or to any parent or subsidiary of
Tenant; provided that after such assignment or sublet the assignee or sublessee shall have a creditworthiness at least equal to that of Tenant as of the Commencement Date of this Lease. 
  
 6.1.8 Indemnity. To defend, with counsel approved by Landlord, all actions against Landlord, its officers, directors,
members, employees, agents, advisors and contractors and all others who could be liable for the obligations of any of them, and any holders of mortgages secured by the Property (“Indemnified Parties”) with respect to, and to indemnify and
save harmless, to the extent permitted by law, all Indemnified Parties from and against, any and all liabilities, losses, damages, costs, expenses (including reasonable attorneys’ fees and expenses), causes of action, suits, claims, demands or
judgments of any nature arising from (i) injury to or death of any person, or damage to or loss of property, in the Premises, or connected with the use, condition or occupancy of any thereof, (ii) a breach of Tenant’s obligations under this
Lease, or (iii) any act, negligence or willful misconduct of Tenant or its employees, agents, contractors, licensees, sub lessees or invitees; except to the extent arising from the gross negligence or willful misconduct of Landlord or any
Indemnified Party. 
  
 6.1.9 Tenant’s Liability
Insurance. 
  
 a. Liability Insurance. To maintain in
effect commercial general liability insurance insuring Tenant against liability for bodily injury, property damage and personal injury at the Premises, which may be through an endorsement on a blanket liability policy. Such insurance shall name
Landlord, its property manager, any mortgagee of which Tenant has received written notice, and Great Point Investors LLC, as additional insureds. The initial amount of such insurance shall be One Million Dollars ($1,000,000) combined single limit
per occurrence, Two Million Dollars ($2,000,000) in the aggregate, with an umbrellas policy of at least Ten Million Dollars ($10,000,000), and shall be subject to reasonable periodic increases specified by Landlord based upon inflation, increased
liability awards, recommendation of Landlord’s professional insurance advisers, and other relevant factors. The liability insurance obtained by Tenant under this Section 6.1.9 shall (i) be primary and (ii) insure Tenant’s obligation to
Landlord under Section 6.1.8 under a standard contractual liability endorsement. The amount and coverage of such insurance shall not limit Tenant’s liability nor relieve Tenant of any other obligation under this Lease. 
  
 b. Worker’s Compensation Insurance. To maintain in effect
Worker’s Compensation Insurance (including Employees’ Liability Insurance) in the statutory amount covering all employees of Tenant employed or performing services at the Premises, in order to provide the statutory benefits required by the
laws of the state in which the Premises are located. 
  
 c.
Automobile Liability Insurance. To maintain in effect Automobile Liability Insurance, including but not limited to, passenger liability, on all owned and hired vehicles at the Premises, with a combined single limit per occurrence of not less
than One Million Dollars ($1,000,000) per vehicle for injuries or death of one or more persons or loss or damage to property. 
  

 14 

 d. Personal Property Insurance. To maintain in effect Personal Property Insurance covering
Tenant’s personal property and trade fixtures from time to time in, on, or at the Premises, in an amount not less than 100% of the full replacement cost, without deduction for depreciation, providing protection against events protected under
“All Risk Coverage,” as well as against sprinkler damage, vandalism, and malicious mischief. Any proceeds from the Personal Property Insurance shall be used for the repair or replacement of the property damaged or destroyed, unless this Lease is terminated under an applicable provision herein including, but not limited
to, a casualty. 
  
 e. Business Interruption Insurance. To
maintain in effect Business Interruption Insurance, providing in the event of damage or destruction of the Premises an amount sufficient to sustain Tenant for a period of not less than one year for: (i) the net profit that would have been realized
had Tenant’s business continued; and (ii) such fixed charges and expenses as must necessarily continue during a total or partial suspension of business to the extent to which they would have been incurred had no business interruption occurred,
including, but not limited to, interest on indebtedness of Tenant, salaries of executives, foremen, and other employees under contract, charges under noncancelable contracts, charges for advertising, legal or other professional services, taxes and
rents that may still continue, trade association dues, insurance premiums, and depreciation. 
  
 f. General Insurance Provisions. 
  
 (i) Any insurance which Tenant shall be required to maintain under this Lease shall include a provision which requires the insurance carrier to give Landlord not less than 30 days’ written notice prior to any
cancellation or modification of such coverage. 
  
 (ii) Prior to
the earlier of Tenant’s entry into the Premises or the Commencement Date, Tenant shall deliver to Landlord an insurance company certificate that Tenant maintains the insurance required by Sections 6.1.9(a)-(e) and not less than 30 days prior to
the expiration or termination of any such insurance. Tenant shall deliver to Landlord renewal certificates therefore. Tenant shall provide Landlord with copies of the policies promptly upon written request from time to time. If Tenant shall fail to
deliver any certificate or renewal certificate to Landlord required under this Lease within the prescribed time period or if any such policy shall be canceled or modified in contradiction to the terms of this Lease during the Lease Term without
Landlord’s consent, Landlord may, after notice and the expiration of the applicable grace period, obtain such insurance, in which case Tenant shall reimburse Landlord, as Additional Rent, for the actual cost of such insurance within 10 days
after receipt of a statement of the cost of such insurance. Each time, if any, Tenant exercises a renewal right pursuant to Article 10 of this Lease. Landlord shall have the right to reasonably adjust the terms of Tenant’s insurance
requirements hereunder. 
  
 (iii) Landlord and Tenant shall
maintain all insurance required under this Lease with companies having a “General Policy Rating” of A-X or better, as set forth in the most current issue of the Best Key Rating Guide. Landlord and Tenant, on behalf of themselves and their
insurers, each hereby waive any and all rights of recovery against the other, or against the officers, partners, members, employees, agents, or representatives of the other, for loss of or damage to its property or the property of others under its
control, if such loss or damage shall be 

  

 15 

 
covered by any insurance policy in force (whether or not described in this Lease) at the time of such loss or damage. All property insurance carried by
either party shall contain a waiver of subrogation against the other party to the extent such right shall have been waived by the insured party prior to the occurrence of loss of injury. 
  
 6.1.10 Landlord’s Right of Entry. To permit Landlord and Landlord’s agents entry upon reasonable advance
notice and without material interference with Tenant’s use of the Premises: to examine the Premises at reasonable times upon reasonable notice and, if Landlord shall so elect, to make repairs or replacements as required or permitted by this
Lease; to remove, at Tenant’s expense, any changes, additions, signs, curtains, blinds, shades, awnings, aerials, flagpoles, or the like not consented to in writing (to the extent required under this Lease); and to show the Premises to
prospective tenants during the 9 months preceding expiration of the Term provided that Tenant has not exercised its extension option, and to prospective purchasers and mortgagees at all reasonable times upon reasonable notice. 
  
 6.1.11 Loading. Not to place Tenant’s property (as described in
Section 6.1.12), upon the Premises so as to exceed the floor load capacities; Tenant’s business machines and mechanical equipment which cause vibration or noise that may be transmitted to the Building structure shall be placed and maintained by
Tenant in settings of cork, rubber, spring, or other types of vibration eliminators sufficient to eliminate such vibration or noise. 
  
 6.1.12 Tenant’s Property. All the furnishings, fixtures, equipment, effects and property of every kind, nature and description of Tenant and
of all persons claiming by, through or under Tenant which, during the continuance of this Lease or any occupancy of the Premises by Tenant or anyone claiming under Tenant, may be on the Premises, shall be at the sole risk and hazard of Tenant, and
if the whole or any part thereof shall be destroyed or damaged by fire, water or otherwise, or by the leakage or bursting of water pipes, steam pipes, or other pipes, by theft, or from any other cause, no part of said loss or damage is to be charged
to or to be borne by Landlord, unless due to the gross negligence of Landlord. 
  
 6.1.13 Labor or Materialmen’s Liens. To pay promptly when due the entire cost of any work done on the Premises by Tenant, its agents, employees, or independent contractors; not to cause or permit any liens
for labor or materials performed or furnished in connection therewith to attach to the Premises; and to discharge any such liens which may so attach within five business days after receiving notice of such liens. 
  
 6.1.14 Holdover. (A) For each month or portion thereof that Tenant
shall retain possession of the Premises, to pay Landlord 200% of the total of the Base Rent and Additional Rent then applicable for each month or portion thereof; and (B) also to pay all damages sustained by Landlord on account thereof. The
provisions of this Subsection 6.1.14 shall not operate as a waiver by Landlord of the right of re-entry provided in this Lease. 
  

 16 

 ARTICLE VII 
 CASUALTY AND TAKING 
  
 7.1 CASUALTY AND
TAKING. 
  
 In case during the Term all or any substantial
part of the Premises, are damaged materially by fire or any other cause, or by action of public or other authority in consequence thereof, or are taken by eminent domain, and the condition of the Premises cannot be restored within 6 months of such
event, Landlord shall have the right to terminate this Lease, by notice to Tenant within 30 days after the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be
not less than 30 nor more than 60 days after the date of notice of such termination. If Landlord does not terminate this Lease as provided above, Landlord shall use due diligence to restore the Premises, or, in case of a taking, what may remain
thereof (excluding any items installed or paid for by Tenant which Tenant may be required or permitted to remove) into proper condition for use and occupation to the extent permitted by the net award of insurance or damages available to Landlord,
and a just proportion of the Base Rent according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been restored by Landlord to such condition; and in case of a taking which permanently reduces
the area of the Premises, a just proportion of the Base Rent and shall be abated for the remainder of the Term. In case during the Term (i) all or any substantial part of the Premises are damaged materially by fire or any other cause, or by action
of public or other authority in consequence thereof, or are taken by eminent domain, (ii) Landlord does not elect to terminate this Lease as provided for in this Section 7.1 and (iii) either (a) such damage or taking occurs during the last year of
the Lease Term or (b) Landlord does not restore the Premises within 180 days of such event, Tenant shall have the right to terminate this Lease, by notice to Landlord within 30 days after the occurrence of the event giving rise to the election to
terminate. 
  
 7.2 RESERVATION OF AWARD. 
  
 Landlord reserves to itself any and all rights to receive awards made for
damages to the Premises and the leasehold hereby created, accruing by reason of exercise of eminent domain. Tenant hereby releases and assigns to Landlord all Tenant’s rights to such awards, and covenants to deliver such further assignments and
assurances thereof as Landlord may from time to time request. It is agreed and understood, however, that Landlord does not reserve to itself, and Tenant may make claim for and does not assign to Landlord, any damages payable for (i) trade fixtures
installed by Tenant or anybody claiming under Tenant, at its own expense, (ii) relocation expenses recoverable by Tenant from such authority in a separate action and (iii) any other of Tenant’s claims to the extent such do not diminish
Landlord’s award. 
  

 17 

 ARTICLE VIII 
 RIGHTS OF MORTGAGEE 
  
 8.1
SUBORDINATION. 
  
 This Lease and all rights of Tenant
hereunder, except as expressly provided herein, shall be subject and subordinate in all respects to (a) all present and future ground leases (collectively, including the applicable items set forth in Subdivision (d) of this Section 8.1, the
“Superior Lease”) whether or not the Superior Lease shall also cover other lands or buildings, (b) all mortgages and building loan agreements, including leasehold mortgages, which may now or hereafter affect the Premises or the Superior
Lease (collectively, including the applicable items set forth in Subdivisions (c) and (d) of this Section 8.1, the “Superior Mortgage”), whether or not any Superior Mortgage shall also cover other lands or buildings or leases, (c) each
advance made or to be made under any Superior Mortgage, and (d) all renewals, modifications, replacements, substitutions and extensions of the Superior Lease and any Superior Mortgage. Any holder of a Superior Mortgagee (a “Superior
Mortgagee”) may elect that this Lease shall have priority over such Superior Mortgage and, upon notification thereof by such Superior Mortgagee to Tenant, this Lease shall be deemed to have priority over such Superior Mortgage, whether this
Lease is dated prior to or subsequent to the date of such Superior Mortgage. Tenant agrees that it will take no steps to terminate this Lease or abate Rent payable hereunder without giving each lessor under a Superior Lease (a “Superior
Lessor”), and any Superior Mortgagee requesting same, written notice of any default by Landlord and the opportunity to cure such default (without any obligation on the part of any such person to cure such default) within 45 days thereafter or,
if such Superior Lessor or Superior Mortgagee commences such cure within 30 business days and diligently pursues such cure, such longer period as may be reasonably necessary to effect such cure provided Tenant has received notice of the existence of
such Superior Lessor or Superior Mortgagee. Landlord shall use reasonable efforts to obtain a subordination and non-disturbance agreement, in recordable form, for each present and future Superior Mortgagee or Superior Lessor. 
  
 8.2 SUCCESSOR LANDLORD. 
  
 For purposes of this Section 8.2, the term “Successor Landlord” shall mean and include (i) any person, including but not limited to any Superior
Lessor or Superior Mortgagee, who, prior to the termination of this Lease, acquires or succeeds to the interest of Landlord under this Lease through summary proceedings, foreclosure action, assignment, deed in lieu of foreclosure or otherwise, and
(ii) the successors and assigns of any person referred to in clause (i) of this sentence. Upon any Successor Landlord’s so acquiring, or so succeeding to, the interest of Landlord under this Lease, Tenant shall, at the election and upon the
request of the Successor Landlord, fully attorn to and recognize such Successor Landlord as Tenant’s landlord under this Lease upon the then executors terms of this Lease, and, provided that this Lease has not been terminated, such Successor
Landlord shall recognize Tenant as the tenant under this Lease and perform all of Landlord’s obligations under the Lease. No Successor Landlord shall be bound by any prepayment of rent or additional rent for more than one month in advance. Upon
demand of any such Successor Landlord, Tenant agrees to execute reasonable and customary instruments to evidence and confirm the foregoing provisions of this Section reasonably satisfactory to any such Successor Landlord. 
  

 18 

 ARTICLE IX 
 DEFAULT 
  
 9.1 EVENTS OF DEFAULT.

  
 There shall be an “Event of Default” hereunder
if: 
  
 (i) any default by Tenant continues after notice
(describing such default in reasonable detail), (a) in case of the payment of Rent or any other monetary obligation to Landlord for more than 5 days, (b) in case of the delivery of any document to Landlord for more than 10 days or (c) in any other
case for more than 30 days and such additional time, if any, as is reasonably necessary to cure the default if the default is of such a nature that it cannot reasonably be cured in 30 days and Tenant diligently commences and continues to cure such
default and completes such cure within 90 days; or 
  
 (ii) if
Tenant becomes a “debtor” as defined in the U.S. Bankruptcy Code, 11 U.S.C, 101 et seq., as it may be amended (or any similar petition under any insolvency law of any jurisdiction), or if such petition is filed against Tenant and not
dismissed within 60 days; or 
  
 (iii) if Tenant makes an
assignment or trust mortgage for benefit of creditors, or if a receiver, trustee, custodian or similar agent is appointed or takes possession with respect to any property of Tenant and such appointment or taking is not dismissed within 60 days; or
if the leasehold hereby created is taken on execution or other process of law in any action against Tenant. 
  
 If there shall be an Event of Default hereunder, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any
remedies for any preceding breach of covenant, immediately or at any time thereafter while such Event of Default continues and without further notice, at Landlord’s election, do any one or more of the following: 
  
 (a) give Tenant written notice stating that the Lease is terminated,
effective upon the giving of such notice or upon a date stated in such notice, as Landlord may elect, in which event the Lease shall be irrevocably extinguished and terminated as stated in such notice without any further action; or 
  
 (b) with process of law, in a lawful manner enter and repossess the Premises
and expel Tenant and those claiming through or under Tenant, and remove its and their effects, without being guilty of trespass, in which event the Lease shall be irrevocably extinguished and terminated at the time of such entry; or 
  
 (c) pursue any other rights or remedies permitted by law. 
  
 Landlord shall use reasonable efforts to mitigate its damages in the case of an Event of
Default. 
  
 Any such termination of the Lease shall be without
prejudice to any remedies which might otherwise be used for arrears of Rent or prior breach of covenant, and in the event of such termination Tenant shall remain liable under this Lease as hereinafter provided. Tenant hereby waives all statutory
rights (including, without limitation, rights of redemption, if any) to the 

  

 19 

 
extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through
or under Tenant at the reasonable expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over
the balance, if any, to Tenant. 
  
 9.2 TENANT’S OBLIGATIONS AFTER
TERMINATION. 
  
 In the event that this Lease is terminated
in accordance with its terms as a result of Tenant’s default, Tenant covenants to pay forthwith to Landlord, as compensation, the excess of the total rent reserved for the residue of the Term over the rental value of the Premises for said
residue of the Term. In calculating the rent reserved and the rental value, there shall be included, in addition to the Base Rent and all Additional Rent, the value of all other consideration agreed to be paid or performed by Tenant for said
residue. Tenant further covenants as an additional and cumulative obligation after any such termination to pay punctually to Landlord all the sums and perform all the obligations which Tenant covenants in this Lease to pay and to perform in the same
manner and to the same extent and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant under the next foregoing covenant, Tenant shall be credited with any amount paid to Landlord as compensation
as provided in the first sentence of this Section 9.2 and also with the net proceeds of any rents obtained by Landlord by reletting the Premises, after deducting all Landlord’s reasonable and actually incurred expenses in connection with such
reletting, including, without implied limitation, all repossession costs, brokerage commissions, fees for legal services and expenses of preparing the Premises for such reletting, it being agreed by Tenant that Landlord may (i) relet the Premises or
any part or parts thereof for a term or terms which may at Landlord’s option be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term and may grant such concessions and free rent as Landlord
in its reasonable judgment considers advisable or necessary to relet the same and (ii) make such alterations, repairs and decorations in the Premises as Landlord in its sole judgment considers advisable or necessary to relet the same, and no action
of Landlord in accordance with the foregoing or failure to relet or to collect rent under reletting shall operate or be construed to release or reduce Tenant’s liability as aforesaid. 
  
 Nothing contained in this Lease shall, however, limit or prejudice the right
of Landlord to prove and obtain in proceedings for bankruptcy or insolvency by reason of the termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in
which, the damages are to be proved, whether or not the amount be greater, equal to, or less than the amount of the loss or damages referred to above. 
  
 9.3 LANDLORD DEFAULT. 
  
 If Landlord defaults in the performance of any of its obligations under this Lease and such default continues for a period of more than 30 days after
receipt of written notice from Tenant specifying such default, except if such default requires more than 30 days to cure and Landlord has commenced and is diligently prosecuting such cure, Tenant may avail itself of any remedies available to it at
law or in equity. 
  

 20 

 ARTICLE X 
 MISCELLANEOUS 
  
 10.1 NOTICES FROM ONE
PARTY TO THE OTHER. 
  
 All notices, requests and other
communications required or permitted under this Lease shall be in writing and shall be personally delivered or sent by certified mail, return receipt requested, postage prepaid or by a national overnight delivery service which maintains delivery
records. Notices to Tenant and Landlord shall be delivered to the address specified in Article I above. All notices shall be effective upon delivery (or refusal to accept delivery). Either party may change its notice address upon notice to the other
party. 
  
 10.2 BIND AND INURE. 
  
 The obligations of this Lease shall run with the land, and this Lease shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Landlord named herein and each successive owner of the Property shall be liable only for the obligations accruing during the
period of its ownership. The obligations of Landlord shall be binding upon the assets of Landlord which comprise the Property and the proceeds of any insurance or action in the nature of eminent domain relating to the Property, but not upon other
assets of Landlord. No individual partner, trustee, stockholder, officer, director, employee, member, beneficiary, agent or advisor of Landlord or Tenant shall be personally liable under this Lease. Tenant shall look solely to Landlord’s
interest in the Property, and the proceeds of any insurance or action in the nature of eminent domain relating to the Property remedies upon an event of default hereunder, and the general assets of the individual partners, trustees, stockholders,
officers, employees, members or beneficiaries of Landlord shall not be subject to levy, execution or other enforcement procedure for the satisfaction of the remedies of Tenant. 
  
 10.3 NO SURRENDER. 
  
 The delivery of keys to any employee of Landlord or to Landlord’s agent or any employee thereof shall not operate as a termination of this Lease or a
surrender of the Premises. 
  
 10.4 NO WAIVER, ETC. 
  
 The failure of Landlord or of Tenant to seek redress for violation of, or to
insist upon the strict performance of any covenant or condition of this Lease shall not be deemed a waiver of such violation nor prevent a subsequent act, which would have originally constituted a violation, from having all the force and effect of
an original violation. The receipt by Landlord of Base Rent or Additional Rent with knowledge of the breach of any covenant of this Lease shall not be deemed a waiver of such breach by Landlord, unless such waiver is in writing and signed by
Landlord. No consent or waiver, express or implied, by Landlord or Tenant to or of any breach of any agreement or duty shall be construed as a waiver or consent to or of any other breach of the same or any other agreement or duty. 
  

 21 

 10.5 NO ACCORD AND SATISFACTION. 
  
 No acceptance by Landlord of a lesser sum than the Rent then due shall be deemed to be other than on account of the earliest
installment of such Rent due, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed as accord and satisfaction, and Landlord may accept such check or payment without prejudice to
Landlord’s right to recover the balance of such installment or pursue any other remedy in this Lease provided. 
  
 10.6 CUMULATIVE REMEDIES. 
  
 The specific remedies to which Landlord or Tenant may resort under the terms of this Lease are cumulative and are not intended to be exclusive of any
other remedies or means of redress to which it may be lawfully entitled in case of any breach or threatened breach by Tenant or Landlord of any provisions of this Lease. In addition to the other remedies provided in this Lease, Landlord or Tenant
shall be entitled to the restraint by injunction of the violation or attempted or threatened violation of any of the covenants, conditions or provisions of this Lease or to a decree compelling specific performance of any such covenants, conditions
or provisions. 
  
 10.7 LANDLORD’S RIGHT TO CURE. 
  
 If Tenant shall at any time default in the performance of any obligation
under this Lease, Landlord shall have the right, but shall not be obligated, to enter upon the Premises and to perform such obligation, notwithstanding the fact that no specific provision for such substituted performance by Landlord is made in this
Lease with respect to such default. In performing such obligation, Landlord may make any reasonable and necessary payment of money or perform any reasonable and necessary other act. All sums so paid by Landlord (together with interest at the rate of
4% per annum in excess of the then average prime commercial rate of interest being charged by FleetBoston) and all necessary incidental costs and expenses in connection with the performance of any such act by Landlord, shall be deemed to be
Additional Rent under this Lease and shall be payable to Landlord immediately on demand. Landlord may exercise the foregoing rights without waiving any other of its rights or releasing Tenant from any of its obligations under this Lease. 

 
 10.8 ESTOPPEL CERTIFICATE. 
  
 Tenant and Landlord agree, from time to time, upon not less than 10
days’ prior written request by the other, to execute, acknowledge and deliver to the requesting party a statement in writing certifying that this Lease is unmodified and in full force and effect; that, to such party’s knowledge, it has no
defenses, offsets or counterclaims against its obligations to pay the Rent and/or to perform its other covenants under this Lease; that to the extent true, there is no default or Event of Default then existing and it has not received a notice of any
alleged default by the requesting party under the Lease; that the Lease has not been modified or amended (or, if there have been modifications, that this Lease is in full force and effect as modified and stating the modifications, and, if there are
any defenses, offsets, counterclaims, or defaults, setting them forth in reasonable detail); the dates to which the Base Rent, Additional Rent and other charges have been paid; and such other factual matters as the requesting party may reasonably
request. 

  

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Any such statement delivered pursuant to this Section 11.8 shall be in a form reasonably acceptable to and may be relied upon by any prospective purchaser or
mortgagee of premises which include the Premises or any prospective assignee of any such mortgagee. 
  
 10.9 WAIVER OF JURY TRIAL. 
  
 THE PARTIES HERETO WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY(IES) AGAINST ANY OTHER PARTY(IES) ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT OR THE RELATIONSHIP OF THE
PARTIES CREATED HEREUNDER. 
  
 10.10 ACTS OF GOD. 
  
 In any case where either party hereto is required to do any act, delays
caused by or resulting from Acts of God, war, civil commotion, fire, flood or other casualty, labor difficulties not limited to the Premises or Tenant’s or Landlord’s business operations, shortages of labor, materials or equipment,
government regulations, unusually severe weather, or other causes beyond such party’s reasonable control shall not be counted in determining the time during which work shall be completed, whether such time be designated by a fixed date, a fixed
time or a “reasonable time”, and such time shall be deemed to be extended by the period of such delay. 
  
 10.11 BROKERAGE. 
  
 Tenant represents and warrants that it has dealt with no broker in connection with this transaction other than the Brokers and agrees to defend, with
counsel reasonably approved by Landlord, indemnify and save Landlord harmless from and against any and all cost, expense or liability for any compensation, commissions or charges claimed by a broker or agent, other than the Brokers, with respect to
Tenant’s dealings in connection with this Lease. Landlord represents and warrants to Tenant that it has dealt with no broker in connection with this transaction other than the Brokers and agrees to defend, with counsel reasonably approved by
Tenant, indemnify and save Tenant harmless from and against any and all cost, expense or liability for any compensation, commissions or charges claimed by a broker or agent with respect to Landlord’s dealings in connection with this Lease.

  
 10.12 SUBMISSION NOT AN OFFER. 
  
 The submission of a draft of this Lease or a summary of some or all of its
provisions does not constitute an offer to lease or demise the Premises, it being understood and agreed that neither Landlord nor Tenant shall be legally bound with respect to the leasing of the Premises unless and until this Lease has been executed
by both Landlord and Tenant and a fully executed copy has been delivered to each of them. 
  
 10.13 APPLICABLE LAW AND CONSTRUCTION. 
  
 This Lease shall be governed by and construed in accordance with the laws of the state in which the Premises are located. If any term, covenant, condition or provision of this Lease or the application thereof to any
person or circumstances shall be declared invalid or unenforceable by 

  

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the final ruling of a court of competent jurisdiction having final review, the remaining terms, covenants, conditions and provisions of this Lease and their
application to persons or circumstances shall not be affected thereby unless the purpose of this Lease is materially and adversely affected and shall continue to be enforced and recognized as valid agreements of the parties, and in the place of such
invalid or unenforceable provision, there shall be substituted a like, but valid and enforceable provision which comports to the findings of the aforesaid court and most nearly accomplishes the original intention of the parties. 
  
 There are no oral or written agreements between Landlord and Tenant affecting
this Lease, except as specified in this Lease. This Lease may be amended, and the provisions hereof may be waived or modified, only by instruments in writing executed by Landlord and Tenant. 
  
 The titles of the several Articles and Sections contained herein are for
convenience only and shall not be considered in construing this Lease. 
  
 Unless repugnant to the context, the words “Landlord” and “Tenant” appearing in this Lease shall be construed to mean those named above and their respective heirs, executors, administrators, successors and assigns, and
those claiming through or under them respectively. If Tenant is comprised of more than one person or entity, the obligations imposed by this Lease upon Tenant shall be joint and several. 
  
 10.14 EXTENSION OPTION. 
  
 10.14.1 Provided that there is not an outstanding Event of Default under this Lease and that no event or condition exists with respect to which Landlord
has given Tenant written notice and after the expiration of any grace period would constitute an Event of Default under this Lease at the time the option may be exercised and at the time the Extension Period commences, Landlord grants Tenant one
option (the “Extension Option”) to extend this Lease with respect to all of the Premises for one additional period of five years (the “Extension Period”). The Extension Option shall be exercised by Tenant delivering written
notice to Landlord at least 9 months and not more than 12 months prior to the Expiration Date of the initial Term. Time is of the essence as to the giving of such notice. 
  
 10.14.2 The rate of annual Base Rent (the “Extension Rental Rate”) for each year of the Extension Period will be
103% of the annual Base Rent for the previous Lease Year. 
  
 10.14.3 Landlord and Tenant shall execute an amendment to this Lease within 30 days after Landlord’s receipt of the Extension Notice, which amendment shall set forth the extended Term and the Extension Rental Rate. Except for the
change in the rate of Base Rent, the Extension Period shall be subject to all of the terms and conditions of this Lease. 
  
 10.14.4 Neither any option granted to Tenant in this Lease to renew or extend the Term, nor the exercise of any such option by Tenant, shall prevent
Landlord from exercising any option or right granted or reserved to Landlord in this Lease or that Landlord may otherwise have, to terminate this Lease or any renewal or extension of the Term either during the original Term or during the renewed or
extended term. Any renewal or extension right granted to Tenant shall be personal to Tenant and may not be exercised by any assignee, subtenant or legal representative of Tenant. Any termination of this Lease shall serve to terminate any such

  

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renewal or extension of the Term, whether or not Tenant shall have exercised any option to renew or extend the Term. No option granted to Tenant to renew or
extend the Term shall be deemed to give Tenant any further option to renew or extend. 
  
 10.15 SIGNS. 
  
 Tenant, at
Tenant’s expense, will be allowed exterior Building signage using its national logo and colors in accordance with the Property’s signage program. All signage must comply with all applicable laws, codes and regulations, including, without
limitation, zoning and building codes. Tenant shall be responsible for obtaining all necessary permits and approvals. The location, materials, design and method of installation of all signage shall be subject to Landlord’s prior written
approval, which will not be unreasonably withheld. Landlord will provide Tenant with the Property’s signage program as soon as it is available. Landlord, at Landlord’s expense, shall provide Tenant with suite identity and directory signage
in accordance with the Property’s signage program. Monument signage may be available to Tenant at Tenant’s expense. In all events, Tenant shall have no less signage than the other tenants, if any, in the building. Time is of the essence.

  
 10.16 PARKING. 
  
 During the initial Lease Term, Tenant shall have the right to occupy the
Parking Spaces (as defined in Section 1.1) at no extra charge. Subject to availability, additional covered reserved parking spaces will be available to Tenant at Landlord’s then applicable monthly rates, which initially shall be $30.00 per
stall. 
  
 10.17 ACKNOWLEDGMENT OF LENDER’S LIEN. 
  
 Landlord acknowledges that Tenant has previously granted its lending
institution, Foothill Capital Corp and its successors and assigns (“Foothill”), a lien on, and security interest in, all of Tenant’s inventory, furniture and equipment (the “Collateral”). Notwithstanding anything to the
contrary in this Lease, Landlord agrees that Foothill’s lien is, and shall be, during the existence of this Lease, and without requirement of any other written documentation, first and superior to any lien or claim Landlord may have with
respect to the Collateral. 
  
 SIGNATURES FOLLOW ON NEXT PAGE

  

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 EXECUTED as a sealed instrument in two or more counterparts on the day and year first above written.

  
 LANDLORD: 
  

					
	BROADWAY BUSINESS CENTER LLC
		
	 By:
	 	MSC Broadway LLC, Primary Member
			
	 	 	By:	  	 /s/ John H. Baxter

	 	 	Name:	  	John H. Baxter
	 	 	Title:	  	Vice President

  
 TENANT: 
  

			
	LESLIE’S POOLMART, INC.
		
	 By:
	  	 /s/ Lawrence H. Hayward

	 Name:
	  	Lawrence H. Hayward
	 Title:
	  	President & CEO

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