Document:

Exhibit 10.38

ASSIGNMENT OF BOULDER OPTION AGREEMENT

This ASSIGNMENT AND ASSUMPTION OF OPTION AGREEMENT
(this “Assignment”) is made as of June 22, 2006 (the “Effective Date”),
by and between Array BioPharma Inc., a Delaware corporation (“Assignor”),
and BioMed Realty, L.P., a Maryland limited partnership (“Assignee”).

RECITALS

A.            WHEREAS, Assignor and 3200 Walnut LL, LLC, a
Delaware limited liability company (“Seller”), entered into that certain Option Agreement
dated as of June 19, 2006 (the “Boulder Option Agreement”), a copy of
which is attached hereto as Exhibit A,
pursuant to which Seller granted Assignor the option to purchase that certain
real property located at 1885 33rd Street, 1825 33rd Street, 1865 33rd Street,
and 3200 Walnut Street, Boulder, Colorado (the “Boulder Option”), as
more particularly described in Exhibit A to the Boulder Option Agreement (the “Boulder
Property”); and

B.            WHEREAS, Assignor desires to assign its interest in the
Boulder Option Agreement to Assignee.

AGREEMENT

NOW, THEREFORE, for good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto mutually agree as follows:

1.             Defined Terms.  All
capitalized terms used but not otherwise defined herein shall have the meaning
assigned to such terms in the Boulder Option Agreement.

2.             Assignment. Assignor hereby sets over, transfers
and assigns unto Assignee all of Assignor’s right, title and interest in and to
the Boulder Option Agreement.

3.             Assumption.  In consideration of the foregoing
assignment, Assignee hereby accepts the foregoing assignment and, from and
after the execution hereof, assumes and agrees to make, observe, keep and
perform all of the terms, covenants and conditions to be made, observed, kept
and performed by the Assignee under the Boulder Option Agreement, as fully as
though Assignee were originally named in the Boulder Option Agreement as the “Optionee”.

4.             Warranty.  Assignor hereby represents and warrants to
Assignee that: (a) it has not assigned the Boulder Option Agreement to any
other person or entity, and (b) it is not in breach or default of any of its
obligations under the Boulder Option Agreement.

5.             Indemnification.
Assignor shall defend, indemnify and hold harmless Assignee from and against
any liability, damages, causes of action, expenses, and attorneys’ fees
incurred by Assignee by reason of the failure of Assignor to fulfill, perform,
discharge, and observe its obligations with respect to the Boulder Option
Agreement arising before the Effective Date. 
Assignee shall defend, indemnify and hold harmless Assignor from and
against any liability,

 

damages,
causes of action, expenses, and attorneys’ fees incurred by Assignor by reason
of the failure of Assignor to fulfill, perform, discharge, and observe its obligations
with respect to the Boulder Option Agreement arising on or after the Effective
Date.

6.             Governing Law. 
This Assignment shall be governed by the law of the State of Colorado.

7.             Counterparts.  This
Assignment may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which together will constitute one and the same
instrument executed on the date first set forth.

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IN WITNESS WHEREOF, the parties hereto have executed
this Assignment as of the date first above written.

	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ARRAY BIOPHARMA INC.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  	
   

  
	
   

  	
  BIOMED REALTY, L.P.,

  
	
   

  	
  a Maryland limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  BioMed Realty Trust, Inc.,

  
	
   

  	
   

  	
  a Maryland corporation

  
	
   

  	
   

  	
  Its: General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CONSENTED
  TO:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SELLER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  3200
  WALNUT LL, LLC,

  	
   

  	
   

  
	
  a Delaware
  limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  QOL Independent Corp.

  
	
   

  	
   

  	
  Its Managing
  Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
											

 

EXHIBIT A

BOULDER OPTION AGREEMENT

(See Attached)Exhibit
10.39

ASSIGNMENT
AGREEMENT

THIS
ASSIGNMENT AGREEMENT (this “Assignment”) is
entered into as of the 22nd day of June, 2006 (the “Effective
Date”) by and between ARRAY BIOPHARMA INC., a Delaware corporation (“Assignor”) and BIOMED
REALTY, L.P., a Maryland limited partnership (“Assignee”).

RECITALS

A.            WHEREAS, 3200 Walnut LL, LLC, a Delaware
limited liability company (the “Boulder Seller”),
and Assignor will enter into that certain Option Agreement (the “Boulder Option Agreement”), a copy of which is attached
hereto as Exhibit A, pursuant to which the
Boulder Seller granted Assignor the option to purchase that certain real
property located at 1885 33rd Street, 1825 33rd Street, 1865 33rd Street, and
3200 Walnut Street, Boulder, Colorado (the “Boulder Option”),
as more particularly described in Exhibit A to the Boulder Option Agreement
(the “Boulder Property”).

B.            WHEREAS, the Boulder Seller and Amgen Inc., a
Delaware corporation (“Amgen”),
entered into that certain Lease dated May 13, 1999 (as amended, the “Existing Boulder Lease”), pursuant to which Amgen leased the
Boulder Property on the terms and conditions set forth in the Existing Boulder
Lease.  In connection therewith, Amgen
and Assignor entered into that certain Lease dated July 17, 1998 (as amended,
the “Existing Boulder Sublease”), pursuant
to which Assignor subleased the Boulder Property on the terms and conditions
contained in the Existing Boulder Sublease.

C.            WHEREAS, Assignor and Circle Capital Longmont
LLC, a Delaware limited liability company (“Longmont
Seller”), have previously entered into that certain Lease
Agreement, dated as of February 28,
2000, as amended by: (a) Addendum to Lease Agreement No. 1 dated May 24, 2001,
(b) Addendum to Lease Agreement No. 2 dated February 11, 2002, (c) Addendum to
Lease Agreement No. 3 dated November 30, 2004, (d) Addendum No. 4 to Lease
Agreement dated as of August 4, 2005, (e) Addendum No. 5 to Lease Agreement
dated as of November 30, 2006, (f) Addendum No. 6 to Lease Agreement dated as
of December 22, 2005, (g) Addendum No. 7 to Lease Agreement dated as of
February 28, 2006, and (h) Addendum No. 8 to Lease Agreement dated as of March
1, 2006 (as amended, the “Existing Longmont Lease”
and, collectively with the Existing Boulder Lease and Existing Boulder
Sublease, the “Existing Leases”), a copy of which
is attached hereto as Exhibit B,
pursuant to which: (i) Assignor leased that certain real property located at
2600 and 2620 Trade Centre Avenue, Longmont, Colorado, as more particularly
described in Exhibit A to the Existing Longmont Lease (the “Longmont Property” and, together with the Boulder Property,
the “Properties”), and (ii) the Longmont
Seller granted Assignor the option to purchase the Longmont Property on the
terms and conditions set forth in the Existing Longmont Lease (the “Longmont Option”).

D.            WHEREAS, in accordance with the terms and
conditions of the Boulder Option Agreement and the Existing Longmont Lease,
Assignee has the right to assign its interests in the Boulder Option Agreement
and the Longmont Option to Assignee.

 

E.             WHEREAS, Assignor desires to assign and
Assignee desires to assume all of Assignor’s rights and obligations with
respect to the Boulder Option Agreement and the Longmont Option on the terms
and conditions set forth herein.

ASSIGNMENT

NOW,
THEREFORE, in consideration of the foregoing and for good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, the
undersigned hereby agree as follows:

1.     Assignment.  Subject to the terms and conditions hereof,
Assignor agrees to assign, transfer and convey to Assignee all of Assignor’s
right, title and interest in and to the Boulder Option Agreement and the
Longmont Option.

2.     Assumption.  Subject
to the terms and conditions hereof, Assignee agrees to accept said assignment,
and assume and agree to satisfy all of Assignor’s obligations with respect to
the Boulder Option Agreement and Longmont Option.

3.     Purchase Price.  The
total purchase price to be paid to Assignor by Assignee:  (i) for the Boulder Option shall be Sixteen
Million Four Hundred Ninety-Five Thousand Two Hundred Dollars ($16,495,200)
(the “Boulder Purchase Price”), and (ii) for
the Longmont Option shall be Thirteen Million Nine Hundred Eighty-Six Thousand
Two Hundred Thirty-Eight Dollars ($13,986,238) (the “Longmont
Purchase Price” and, together with the Boulder Purchase Price, the “Purchase Price”).  The
Purchase Price, as adjusted for prorations, deposits and other adjustments as
provided herein, shall be paid to LandAmerica Commercial Services, 750 B.
Street, Suite 3000, San Diego, California 92101, Attn: Katherine I. Leicht (the
“Escrow Agent”) by wire transfer of
immediately available funds or in cash.

4.     Purchase Price Prepayments/Deposit of Earnest
Money.

(a)           Within three (3) business days (as defined
below) following the Effective Date, Assignee shall pay to Assignor
(i) $25,000 which shall be credited against the Boulder Purchase Price at
the Boulder Closing (the “Boulder Prepayment”) and (ii) $25,000 which
shall be credited against the Longmont Purchase Price at the Longmont Closing
(the “Longmont Prepayment”).

(b)           Within three (3) business days (in this
Assignment, a business day shall mean any day of the year other than any
Saturday or Sunday or any other day on which banks located in Boulder, Colorado
generally are closed for business) after the Effective Date, Assignee shall
deposit: (i) $225,000 in cash applicable towards the Boulder Purchase Price
(such amount, including any interest earned thereon, the “Boulder
Deposit”), and (ii) $225,000 in cash applicable towards the Longmont
Purchase Price (such amount, including any interest earned thereon, the “Longmont Deposit” and, together with the Boulder Deposit,
the “Earnest Money”) with the Escrow
Agent.  The Escrow Agent shall hold and
disburse the Earnest Money in accordance with the escrow provisions in Exhibit C.  Assignor
shall not deliver any instruction to the Escrow Agent calling for disbursement
of the Earnest Money to Assignor except following the occurrence of Assignee’s
default hereunder and the expiration of any

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applicable cure period or as otherwise
expressly provided in this Assignment, and Assignor further agrees to provide
Assignee with a copy of such instruction concurrently with the delivery thereof
to the Escrow Agent.  Provided such
supplemental escrow instructions are not in conflict with this Assignment as it
may be amended in writing from time to time, Assignor and Assignee agree to
execute such supplemental escrow instructions as may be appropriate to enable
Escrow Agent to comply with the terms of this Assignment.

5.     Closing Date.  The “Closing Date” shall mean: (a) with respect to the Boulder
Property, July 7, 2006, or such earlier date as mutually agreed to by the
parties (the (“Boulder Closing Date”), and (b) with
respect to the Longmont Property, the date that is sixty days after Longmont
Seller’s receipt of notice of exercise of the Longmont Option, or such earlier
date as mutually agreed to by the parties (the “Longmont
Closing Date”); provided, however, Assignee shall have
the right to extend the respective Closing Date for up to seven (7) business
days, by delivering to Assignor and Escrow Agent, at least five (5) business
days prior to the expiration of the scheduled Closing Date, a written election
to such effect setting forth the new Closing Date

6.     Ongoing Operations.  During the pendency of this Assignment:

(a)           Preservation
of Business.  Assignor shall cause
the Properties to be operated only in the ordinary and usual course of business
and consistent with past practice, shall, subject to reasonable wear and tear,
preserve intact the Properties, preserve the good will and advantageous
relationships of Assignor with customers, suppliers, independent contractors,
employees and other persons or entities material to the operation of its
business, shall perform its obligations under the Existing Boulder Sublease,
the Existing Longmont Lease and all other agreements affecting either Property
and shall not take any action or omission which would cause any of the representations
or warranties of Assignor contained herein to become inaccurate or any of the
covenants of Assignor to be breached.

(b)           Maintenance
of Insurance.  Assignor shall
continue to carry its existing insurance through the respective Closing Date, and
shall not allow any breach, default, termination or cancellation of such
insurance policies or agreements to occur or exist.

(c)           New
Contracts.  Without Assignee’s prior
written consent in each instance, which will not be unreasonably withheld or
delayed, Assignor will not enter into or amend, terminate, waive any default
under, or grant concessions regarding any contract or agreement that will be an
obligation affecting the Properties or binding on Assignee after the respective
Closing.

(d)           Leasing
Arrangements.  At Assignor’s sole
cost and expense, Assignor and Assignee shall use their commercially reasonable
efforts to negotiate with Amgen the termination, at the Boulder Closing, of the
Existing Boulder Lease and the Existing Boulder Sublease.  In the event Amgen fails or refuses to
terminate the Existing Boulder Lease and the Existing Boulder Sublease, Array
shall cooperate with Assignee in, at the election of Assignee: (i) modifying
the terms of such lease to a form acceptable to Assignee, in its sole and
absolute discretion or, (ii) entering into a new sublease on the terms and
conditions set forth in the Boulder Lease. 
Assignor will not enter into any other lease, sublease of space or other

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occupancy
agreement affecting the Properties, or amend, terminate, waive any default
under, grant concessions regarding, or incur any obligation for leasing
commissions or otherwise in connection with any of the Existing Leases, or any
other agreement without Assignee’s prior written consent in each instance.

(e)           Maintenance
of Permits.  Assignor shall maintain
in existence all licenses, permits and approvals, if any, in its name necessary
or reasonably appropriate to the operation or improvement of the Properties.

(f)            Property
Information. Assignor has made available to Assignee at each Property or at
Assignor’s office, the information and documents set forth on Exhibit D attached hereto (the “Property
Information”) for each Property to the extent such Property
Information was in Assignor’s possession. 
Assignor agrees to cooperate with Assignee and make copies, at Assignor’s
expense, of such documentation as Assignee may request during the course of
Assignee’s review of the Property Information. 
Assignor shall have the continuing obligation during the pendency of
this Assignment to provide Assignee with any document described above and
coming into Assignor’s possession or produced by or for Assignor after the
initial delivery of the Property Information.

7.     Conditions Precedent.

7.1           Conditions
to Assignor’s Obligation to Close. 
In addition to all other conditions set forth herein, the obligation of
Assignor to close the transactions with respect to the respective Property
shall be contingent upon the following:

(a)   Representations.  Assignee’s representations and warranties
contained herein shall be true and correct in all material respects as of the
date of this Assignment and the respective Closing Date; and

(b)   Performance.  As of the respective Closing Date, Assignee
shall have performed its obligations hereunder in all material respects and all
deliveries to be made by Assignee at such Closing have been tendered.

7.2           Conditions
to Assignee’s Obligation to Close. 
In addition to all other conditions set forth herein, the obligation of
Assignee to close the transactions with respect to the respective Property
shall be contingent upon the following:

(a)   Representations.  Assignor’s representations and warranties
contained herein shall be true and correct in all material respects as of the
date of this Assignment and the respective Closing Date;

(b)   Performance.  As of the respective Closing Date, Assignor
shall have performed its obligations hereunder in all material respects and all
deliveries to be made by Assignor at such Closing have been tendered;

(c)   Default.  As of the respective Closing Date, Assignor
shall not be in default under this Assignment, any Existing Lease or any other
agreement to be assigned to, or obligation to be assumed by, Assignee under
this Assignment;

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(d)   Physical
Condition.  The physical condition of
the respective Property shall be substantially the same on the respective
Closing Date as on the Effective Date, reasonable wear and tear excepted;

(e)   Lease
Condition.

(i)            As
of the Longmont Closing Date, (1) Assignee and Assignor shall have executed a
lease agreement with respect to the Longmont Property (the “Longmont Lease”), (2) Assignor shall be the sole tenant with
respect to the Longmont Property, and (3) Assignee shall have received
assurances acceptable to Assignee that on the consummation of the Longmont
Closing, the Existing Longmont Lease and all other leases, subleases or other
occupancy agreements affecting any portion of the Longmont Property, other than
the Longmont Lease, shall have been terminated; and

(ii)           As
of the Boulder Closing Date, (1) Assignee and Assignor shall have executed a
lease agreement with respect to the Boulder Property (the “Boulder
Lease” and, together with the Longmont Lease, the “Subject Leases”), (2) Assignor shall be the sole tenant with
respect to the Boulder Property (other than AlphaSniffer pursuant to a month to
month sublease between Assignor and AlphaSniffer and, in the event Amgen fails
to terminate the Existing Boulder Lease pursuant to Section 6(d) hereof,
Amgen, pursuant to the Existing Boulder Lease), and (3) Assignee shall have
received assurances acceptable to Assignee that on the consummation of the
Boulder Closing, the Existing Boulder Lease and Existing Boulder Sublease and
all other leases, subleases or other occupancy agreements affecting any portion
of the Boulder Property, other than the Boulder Lease, a month-to-month
sublease with AlphaSniffer and, in the event Amgen fails to terminate the
Existing Boulder Lease pursuant to Section 6(d) hereof, the Existing
Boulder Lease, shall have been terminated;

(f)    Financial
Condition.  The financial condition
of Assignor on the respective Closing Date shall be substantially the same as
the financial condition on the Effective Date;

(g)   Bankruptcy.  No proceeding has been commenced against
Assignor under the federal Bankruptcy Code or any state law for relief of
debtors;

(h)   Moratorium.  No moratorium, statute or regulation of any
governmental agency or order or ruling of any court has been enacted, adopted,
or issued which would adversely affect Assignee’s use or development of the
Properties; and

(i)    Purchase
Agreement.

(i)            Longmont
Purchase Agreement.  As of the
Longmont Closing Date, each of the conditions precedent set forth in Section
5.2 of that certain Purchase and Sale Agreement to be entered into between
Assignor and the Longmont Seller (the “Longmont Purchase
Agreement”) shall have been satisfied, the Assignor shall have
assigned its interest in the Longmont Purchase Agreement to Assignee, and the
Longmont Seller is prepared to convey its fee interest in the Longmont
Property  to Assignee pursuant to the
Longmont Purchase Agreement; and

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(ii)           Boulder
Purchase Agreement.  As of the
Boulder Closing Date, each of the conditions precedent set forth in Section 4.5
of that certain Purchase and Sale Agreement, attached as an Exhibit to the
Boulder Option Agreement and to be entered into between Assignee and the
Boulder Seller (the “Boulder Purchase Agreement”),
shall have been satisfied, and the Boulder Seller is prepared to convey its fee
interest in the Boulder Property  to
Assignee pursuant to the Boulder Purchase Agreement.

7.3           Failure
of Condition Precedent.  So long as a
party is not in default beyond applicable notice and cure periods hereunder, if
any condition to such party’s obligation to proceed with the respective Closing
hereunder has not been satisfied as of the respective Closing Date or other
applicable date and such condition is not cured within five (5) days after
receipt of notice of default from the non-defaulting party; such non-defaulting
party may, in its sole discretion, either (i) terminate this Assignment with
respect to such Property by delivering written notice to the other party on or
before such Closing Date and the Longmont Deposit or the Boulder Deposit, as
applicable, shall be returned to Assignee, or (ii) elect to close,
notwithstanding the non-satisfaction of such condition, in which event such
party shall be deemed to have waived any such condition.

8.     Defaults and Remedies.

8.1           Assignee’s
Defaults; Assignor’s Remedies.

(a)   In
the event of a breach by Assignee of its obligations under this Assignment to
effect the respective Closing, which breach is not cured within five (5) days
after Assignee’s receipt of notice of default from Assignor (provided that no
such cure period shall extend the respective Closing Date or apply for a breach
of the obligation to close by the respective Closing Date) and Assignor is
willing, ready and able to perform its obligations hereunder, Assignor’s sole
remedy shall be to terminate this Assignment and receive and retain all Earnest
Money and any earnings thereon as liquidated damages, not as a penalty.
ASSIGNOR AND ASSIGNEE AGREE THAT IT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICAL
TO QUANTIFY THE ACTUAL DAMAGES TO ASSIGNOR IN THE EVENT OF A BREACH BY
ASSIGNEE, THAT THE AMOUNT OF ALL EARNEST MONEY IS A REASONABLE ESTIMATE OF SUCH
ACTUAL DAMAGES, AND THAT ASSIGNOR’S EXCLUSIVE REMEDY IN THE EVENT OF A BREACH
BY ASSIGNEE SHALL BE TO RETAIN ALL EARNEST MONEY AND ANY EARNINGS THEREON AS
LIQUIDATED DAMAGES.   

	
  

  	
   

  	
   

  	
   

  
	
  Initials of Assignor

  	
  Initials of Assignee

  

(b)              After
the respective Closing, in the event of a breach by Assignee of its obligations
under this Assignment that survive such Closing, Assignor may exercise any rights
and remedies available at law or in equity.

8.2           Assignor’s
Defaults; Assignee’s Remedies.

(a)              In
the event of a breach by Assignor of its obligations under this Assignment,
which breach is not cured within five (5) days after Assignor’s receipt of notice
of default from Assignee (provided that no such cure period shall extend the
respective

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Closing Date or apply for a breach of the obligation
to close by such Closing Date), Assignee may elect one of the following two
remedies: (a) terminate this Assignment and receive: (i) a refund of the
Earnest Money and any earnings thereon, plus (ii) reimbursement from Assignor
for Assignee’s reasonable out of pocket costs incurred in connection with the
negotiation of this Assignment, Assignee’s diligence with respect to the
Properties, and Assignee’s actions in furtherance of the transactions
contemplated by this Assignment (provided that said sum recoverable as
reimbursement shall not exceed one-hundred thousand dollars ($100,000)); or
(b) enforce specific performance of this Assignment against Assignor,
including the right to recover reasonable attorneys’ fees. ASSIGNEE AND
ASSIGNOR AGREE THAT IT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICAL TO QUANTIFY
THE ACTUAL DAMAGES TO ASSIGNEE IN THE EVENT OF A BREACH BY ASSIGNOR, THAT THE
AMOUNT OF ALL EARNEST MONEY IS A REASONABLE ESTIMATE OF SUCH ACTUAL DAMAGES,
AND THAT IN THE EVENT ASSIGNEE SELECTS TO ENFORCE ITS REMEDIES UNDER (A) ABOVE,
ASSIGNEE SHALL RECEIVE A REFUND OF ALL EARNEST MONEY AND ANY EARNINGS THEREON
AND ASSIGNEE’S OUT OF POCKET COSTS.

	
  

  	
   

  	
   

  	
   

  
	
  Initials of Assignor

  	
  Initials of Assignee

  

(b)              After
the respective Closing, in the event of a breach by Assignor of its obligations
under this Assignment that survive such Closing, Assignee may exercise any
rights and remedies available at law or in equity.

9.     Closing.  The consummation of the transactions
contemplated herein (the “Closing”) shall
occur as follows:

9.1           Boulder
Closing.  The consummation of the
transaction contemplated herein with respect to the Boulder Option (the “Boulder Closing”) shall occur on the Boulder Closing Date at
the offices of the Escrow Agent.  Funds
shall be deposited into and held by Escrow Agent in a closing escrow account
with a bank satisfactory to Assignee and Assignor.  Upon satisfaction or completion of all
closing conditions and deliveries, Escrow Agent shall immediately deliver the
closing documents to the appropriate parties and make disbursements according
to the closing statements executed by Assignor and Assignee.  Provided such supplemental escrow
instructions are not in conflict with this Assignment as it may be amended in
writing from time to time, Assignor and Assignee agree to execute such
supplemental escrow instructions as may be appropriate to enable Escrow Agent
to comply with the terms of this Assignment. 
The parties understand that the Boulder Closing shall occur with the
Escrow Agent in Boulder, Colorado requiring that all necessary deliveries to
escrow must be completed by 11:00 a.m. on the Boulder Closing Date.

(a)     Assignor’s
Deliveries in Escrow.  On or before
11:00 a.m. on the Boulder Closing Date, Assignor shall deliver in escrow to the
Escrow Agent the following:

(i)            Assignment
of Boulder Option Agreement.  The
Assignment of the Boulder Option Agreement, in the form attached hereto as Exhibit E, executed by Assignor and the Boulder Seller;

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(ii)           Boulder
Lease.  The Boulder Lease,
substantially in the form of Exhibit F,
executed by Assignor and Assignee;

(iii)          Terminations.  Terminations of the Existing Boulder Lease
and the Existing Boulder Sublease;

(iv)          Authority.  Evidence of the existence, organization and
authority of Assignor and of the authority of the persons executing documents
on behalf of Assignor required by and reasonably satisfactory to the Escrow
Agent and the Title Company; and

(v)           Other
Deliveries.  Any other closing
deliveries required to be made by or on behalf of Assignor hereunder or
reasonably required to effect the Boulder Closing of this transaction
consistent with this Assignment.

(b)   Assignee’s
Deliveries in Escrow.  On or before
11:00 a.m. on the Boulder Closing Date, Assignee shall deliver in escrow to the
Escrow Agent the following:

(i)            Purchase
Price.  The Boulder Purchase Price,
less the Boulder Deposit and the Boulder Prepayment that is applied to the
Purchase Price plus or minus applicable prorations, deposited by Assignee with
the Escrow Agent in immediate, same-day federal funds wired for credit
into the Escrow Agent’s escrow account;

(ii)           Assignment
of Boulder Option Agreement.  The
Assignment of the Boulder Option Agreement, in the form attached hereto as Exhibit E, executed and acknowledged by Assignee;

(iii)          Boulder
Lease.  The Boulder Lease,
substantially in the form of Exhibit F,
executed by Assignee; and

(iv)          Other
Deliveries.  Any closing deliveries
required to be made by or on behalf of Assignee hereunder or reasonably
required to effect the Boulder Closing of this transaction consistent with this
Assignment.

9.2  Longmont Closing.  The consummation of the transaction
contemplated herein with respect to the Longmont Option (the “Longmont Closing”) shall occur on the Longmont Closing Date
at the offices of the Escrow Agent. 
Funds shall be deposited into and held by Escrow Agent in a closing
escrow account with a bank satisfactory to Assignee and Assignor.  Upon satisfaction or completion of all
closing conditions and deliveries, Escrow Agent shall immediately deliver the
closing documents to the appropriate parties and make disbursements according
to the closing statements executed by Assignor and Assignee.  Provided such supplemental escrow
instructions are not in conflict with this Assignment as it may be amended in
writing from time to time, Assignor and Assignee agree to execute such
supplemental escrow instructions as may be appropriate to enable Escrow Agent
to comply with the terms of this Assignment. 
The parties understand that the Longmont Closing shall occur with the
Escrow Agent in Boulder, Colorado requiring that all necessary deliveries to escrow
must be completed by 11:00 a.m. on the Longmont Closing Date.

 8
 

 

(a)     Assignor’s
Deliveries in Escrow.  On or before
11:00 a.m. on the Longmont Closing Date, Assignor shall deliver in escrow to
the Escrow Agent the following:

(i)            Assignment
of Longmont Purchase Agreement.  The
Assignment of the Longmont Purchase Agreement, in the form attached hereto as Exhibit G, executed and acknowledged by Assignor and the
Longmont Seller;

(ii)           Assignment
of Longmont Option.  The Assignment
of the Longmont Option, in the form attached hereto as Exhibit H,
executed and acknowledged by Assignor and the Longmont Seller;

(iii)          Longmont
Lease.  The Longmont Lease,
substantially in the form of Exhibit I,
executed by Assignor and Assignee;

(iv)          Terminations.  Terminations of the Existing Longmont Lease;

(v)           Authority.  Evidence of the existence, organization and
authority of Assignor and of the authority of the persons executing documents
on behalf of Assignor required by and reasonably satisfactory to the Escrow
Agent and the Title Company; and

(vi)          Other
Deliveries.  Any other closing
deliveries required to be made by or on behalf of Assignor hereunder or
reasonably required to effect the Longmont Closing of this transaction
consistent with this Assignment.

(b)   Assignee’s
Deliveries in Escrow.  On or before
9:00 a.m. on the Longmont Closing Date, Assignee shall deliver in escrow to the
Escrow Agent the following:

(i)            Purchase
Price.  The Longmont Purchase Price,
less the Longmont Deposit and the Longmont Prepayment that is applied to the
Purchase Price plus or minus applicable prorations, deposited by Assignee with
the Escrow Agent in immediate, same-day federal funds wired for credit
into the Escrow Agent’s escrow account;

(ii)           Assignment
of Longmont Purchase Agreement.  The
Assignment of the Longmont Purchase Agreement, in the form attached hereto as Exhibit G, executed and acknowledged by Assignee;

(iii)          Assignment
of Longmont Option.  The Assignment
of the Longmont Option, in the form attached hereto as Exhibit H,
executed and acknowledged by Assignee;

(iv)          Longmont
Lease.  The Longmont Lease,
substantially in the form of Exhibit I,
executed by Assignee; and

(v)           Other
Deliveries.  Any other closing
deliveries required to be made by or on behalf of Assignee hereunder or reasonably
required to effect the Longmont Closing of this transaction consistent with
this Assignment.

 9
 

 

9.3           Closing
Statements/Closing Costs.

(a)   Assignor
and Assignee shall deposit with the Escrow Agent executed closing statements
consistent with this Assignment in the form required by the Escrow Agent.

(b)   Assignee
and the Boulder Seller or the Longmont Seller, as applicable, shall each pay
one-half (1/2) of the Closing Costs pursuant to the applicable Purchase
Agreement; provided, however, (i) Assignor shall be required to
pay the costs of any unamortized tenant improvements and leasing commissions,
as required by Section 12(c)(4) of Addendum No. 4 to the Existing Longmont
Lease (“Addendum #4), and Assignee shall be entitled to any credit, to be
applied towards the Longmont Purchase Price, under Section 12(c)(4) of Addendum
#4 relating to savings realized by the Longmont Seller on brokers’ commissions
relating to the purchase of the Longmont Property; provided further, in
the event Assignee is responsible for: (i) more than 50% of the Closing Costs
for the Boulder Property and the Longmont Property under the applicable
Purchase Agreement, Assignor shall reimburse Assignee for one-half of such
excess amount paid by Assignee; or (ii) less than 50% of the Closing Costs for
the Boulder Property and the Longmont Property under the applicable Purchase
Agreement, Assignee shall pay Assignor one-half of the difference between the
Closing Costs paid by Assignee and 50% of the overall Closing Costs.  For purposes of this Section, “Closing Costs”
shall mean the aggregate costs and expenses of the Longmont Closing and the
Boulder Closing attributable to an updated survey, an owner’s title policy,
title endorsements, transfer fees and taxes (excluding sales tax on personal
property), recording fees, title company escrow fees and closing fees.

10.      Prorations and Adjustments.

10.1         Prorations.  The following shall apply with respect to
each Closing: at least five (5) days prior to the respective Closing Date,
Assignor shall provide to Assignee such information and verification reasonably
necessary to support the prorations and adjustments under this Section 10.  To the extent Assignor pays such operating
expenses, assessments, charges under contracts and
utility charges with respect to such Property pursuant to an Existing Lease,
Assignor shall continue to be responsible for such charges pursuant to the
terms and provisions of the Existing Leases. 
All other assessments, charges under contracts
and utility charges with respect to such Property shall be prorated between
Assignor and Assignee, based on the actual number of days in the
applicable period, as of the close of the day immediately preceding such
Closing Date, with Assignor bearing all such items to the extent attributable
to the period prior to such Closing Date and Assignee bearing all such items to
the extent attributable the period commencing on such Closing Date.  Notwithstanding the foregoing, Assignor shall
be solely responsible for all costs and expenses of any kind under any of the
Existing Leases.  In the event Assignor
has any questions or concerns regarding prorations or other expenses under the
Existing Leases, Assignor shall contact and negotiate directly with the Boulder
Seller or the Longmont Seller, as applicable. 
Notwithstanding the foregoing, in the event Assignee receives a credit
from the Longmont Seller or the Boulder Seller, as applicable, for any base
rent or additional rent under the Existing Longmont Lease or the Existing
Boulder Sublease, as applicable, that was paid by Assignor before the
respective Closing Date and applies

 10
 

 

to any period
after such Closing Date (the “Prepaid Rent”),
Assignor shall receive a credit for such Prepaid Rent on the respective Closing
Date.

10.2         Sales
Commissions.  In the event of any
claim for broker’s or finder’s fees or commissions in connection with the
negotiation, execution or consummation of this Assignment or the transactions
contemplated hereby, each party shall indemnify and hold harmless the other
party from and against any such claim based upon any statement, representation
or agreement of such party.

10.3         Pre-Closing
Expenses.  Except as otherwise
specifically provided in this Assignment or in any other written agreement that
may be entered into between Assignor and Assignee, Assignor has paid or will
pay in full, prior to the respective Closing (or promptly following receipt of
a bill therefor if not received by such Closing), all bills and invoices for
labor, goods, material and services of any kind relating to the Properties and
utility charges (except if and to the extent such utility charges are billed
directly to tenants), relating to the period prior to such Closing.

10.4         Leasing
Cost.  At the Longmont Closing,
Assignee will pay the Longmont Seller, in addition to the Longmont Purchase
Price, an additional amount equal to the unamortized component of any tenant improvements or lease
commission costs incurred by Seller for leasing the Longmont Property to
Assignor (the “Leasing Cost”).  The Leasing Cost is anticipated to be
approximately $231,587.63.  Assignor
hereby agrees to reimburse Assignee the Leasing Cost.  Therefore, at the Longmont Closing, Assignee
shall receive a credit from Assignor for the total amount of the Leasing Cost.

11.      Representations and Warranties.

11.1         Assignor’s
Representations and Warranties.  As a
material inducement to Assignee to execute this Assignment and consummate this
transaction, Assignor represents and warrants to Assignee that:

(a)   Organization
and Authority.  Assignor has been
duly organized, is validly existing, and is in good standing as a Delaware
corporation.  Assignor is in good
standing and is qualified to do business in the state in which the Properties
are located.  Assignor has the full right
and authority and has obtained any and all consents required to enter into this
Assignment and to consummate or cause to be consummated the transactions
contemplated hereby.  This Assignment has
been, and all of the documents to be delivered by Assignor at the respective
Closing will be, authorized and properly executed and constitute, or will
constitute, as appropriate, the valid and binding obligations of Assignor,
enforceable in accordance with their terms.

(b)   Conflicts
and Pending Actions or Proceedings. 
There is no agreement to which Assignor is a party or, to Assignor’s
knowledge, binding on Assignor or any Property which is in conflict with this
Assignment, or which challenges or impairs Assignor’s ability to execute or
perform its obligations under this Assignment. 
There is not now pending or, to the best of Assignor’s knowledge,
threatened, any action, suit or proceeding before any court or governmental
agency or body against Assignor that would prevent Assignor from performing its
obligations hereunder or against or with respect to the Properties.  No

 11
 

 

condemnation, eminent
domain or similar proceedings are pending or, to Assignor’s knowledge,
threatened with regard to the Properties. 
Assignor has not received any notice and has no knowledge of any pending
or threatened liens, special assessments, impositions or increases in assessed
valuations to be made against the Properties.

(c)   Existing
Leases.  The Existing Leases are, or
at the time they are delivered to Assignee will be, true, correct and complete
copies of all of the leases affecting the Properties, including any and all
amendments or supplements thereto, and guaranties or other security in
connection therewith.  There are no lease
or occupancy agreements affecting any portion of the Properties other than the
Existing Leases and the AlphaSniffer Lease. 
Assignor does not have any defenses or offsets to rent accruing after
the respective Closing Date under any of the Existing Leases and no default or
breach exists on the part of Assignor.  Assignor has not received any
notice of any default or breach on the part of the landlord under any of the
Existing Leases, nor, to Assignor’s knowledge, does there exist any such
default or breach on the part of the landlord. 
All of the landlord’s obligations to construct tenant improvements or
reimburse Assignor for tenant improvements under the Existing Leases have been
paid and performed in full and all concessions (other than any unexpired rent
abatement set forth in the Leases) from the landlord under the Existing Leases
have been paid and performed in full.

(d)   Legal
Compliance.  To Assignor’s knowledge,
Assignor has all material licenses, permits and certificates necessary for the
use and operation of the Properties, including, without limitation, all
certificates of occupancy necessary for the lawful occupancy of the
Properties.  Assignor has received no
written notice that either Property or the use thereof violates any
governmental law or regulation or any covenants or restrictions encumbering
either Property.  Assignor has not
received any written notices of violations or alleged violations of any laws,
rules, regulations or codes, including building codes, with respect to the
Properties which have not been corrected to the satisfaction of the issuer of
the notice.

(e)   Environmental.  Assignor has no knowledge of, and has
received no notice of, any violation of Environmental Laws related to the
Properties or the presence or release of Hazardous Materials on or from the
Properties in violation of Environmental Laws except, (i) with respect to the
Longmont Property, as described in the Phase One Environmental Assessment dated
June 2, 2006 and, (ii) with respect to the Boulder Property, as described in
the Phase One Environmental Site Assessment Updated dated May 30, 2006 (collectively,
the “Environmental Assessments”).  Assignor has received written confirmation
from Versar that each of the environmental matters disclosed in the
Environmental Assessments have been remedied. Neither Assignor nor, to Assignor’s
knowledge, any other occupant, has used the Properties or any part thereof for
the release, generation, treatment, storage, handling or disposal of any
Hazardous Materials, in violation of any Environmental Laws.  There are no underground storage tanks
located on the Properties.  The term “Environmental Laws” includes without limitation the Resource
Conservation and Recovery Act and the Comprehensive Environmental Response
Compensation and Liability Act and other federal laws governing the environment
as in effect on the date of this Assignment, together with their implementing
regulations, guidelines, rules or orders as of the date of this Assignment, and
all state, regional, county, municipal and other local laws,

 12
 

 

regulations, ordinances,
rules or orders that are equivalent or similar to the federal laws recited
above or that purport to regulate Hazardous Materials.  The term “Hazardous
Materials” includes petroleum, including crude oil or any fraction
thereof, natural gas, natural gas liquids, liquefied natural gas, or synthetic
gas usable for fuel (or mixtures of natural gas or such synthetic gas), and any
substance, material, waste, pollutant or contaminant listed or defined as
hazardous or toxic under any Environmental Law.

(f)    Disclosure.  Copies of Property Information delivered to
Assignee pursuant to Section 6(f) hereof are or will be true, correct
and complete. Assignor has delivered to Assignee all books, notices, documents
and agreements pertaining to the Properties that are in Assignor’s
possession.  To Assignor’s actual
knowledge, the Property Information does not and shall not contain a material
misstatement of fact or omit to state a fact necessary in order to make the
statements therein not misleading in any material respect.  Assignor is not aware of any current fact or
circumstance pertaining to the condition of either Property that (1) has not
been disclosed to Assignee, and (2) in Assignor’s reasonable opinion has a
material adverse impact on the value of either Property.

(g)       ERISA.  Assignor is not and is not acting on behalf
of an “employee benefit plan” within the meaning of Section 3(3) of the
Employee Retirement Income Security Act of 1974, as amended, a “plan” within
the meaning of Section 4975 of the Internal Revenue Code of 1986, as amended or
an entity deemed to hold “plan assets” within the meaning of 29 C.F.R.
§ 2510.3-101 of any such employee benefit plan or plans.

11.2         Assignee’s
Representations and Warranties.  As a
material inducement to Assignor to execute this Assignment and consummate this
transaction, Assignee represents and warrants to Assignor that:

(a)     Organization
and Authority.  Assignee has been
duly organized and is validly existing as a Maryland limited partnership, in
good standing and will be qualified to do business in the state in which the
Properties are located on the respective Closing Date.  This Assignment has been, and all of the
documents to be delivered by Assignee at the respective Closing will be,
authorized and properly executed and constitutes, or will constitute, as appropriate,
the valid and binding obligation of Assignee, enforceable in accordance with
their terms.

(b)       Conflicts
and Pending Action.  There is no
agreement to which Assignee is a party or to Assignee’s knowledge binding on
Assignee which is in conflict with this Assignment.  There is no action or proceeding pending or,
to Assignee’s knowledge, threatened against Assignee which challenges or
impairs Assignee’s ability to execute or perform its obligations under this
Assignment.

11.3         Survival
of Representations and Warranties. 
The representations and warranties set forth in this Section 11
are made as of the Effective Date and are remade as of the respective Closing
Date, and such representations and warranties (and any representations and
warranties in any other documents delivered to Assignee pursuant to the
provisions of this Assignment) shall not be deemed to be merged into or waived
by the instruments of such Closing, but shall survive such Closing.

 13
 

 

12.      Miscellaneous.

12.1.        Parties
Bound.  Neither party may assign this
Assignment without the prior written consent of the other, and any such
prohibited assignment shall be void; provided, however, that Assignee may
assign this Assignment without Assignor’s consent to one or more Affiliate
(including without limitation BioMed Realty Trust, Inc., BMR-3200 Walnut Street
LLC and BMR-Trade Center Avenue LLC). 
Subject to the foregoing, this Assignment shall be binding upon and
inure to the benefit of the respective legal representatives, successors,
assigns, heirs, and devisees of the parties. 
For the purposes of this paragraph, the term “Affiliate”
means (i) an entity that directly or indirectly controls, is controlled by or
is under common control with Assignee, or (ii) a partnership or other entity in
which Assignee or an entity described in (i) is a partner or other owner; and
the term “control” means the power to direct the management of such entity
through voting rights, ownership or contractual obligations.

12.2.        Headings.  The article and paragraph headings of this
Assignment are for convenience only and in no way limit or enlarge the scope or
meaning of the language hereof.

12.3.        Expenses.  Except as otherwise expressly provided
herein, each party hereto shall pay its own expenses incident to this Assignment
and the transactions contemplated hereunder, including all legal and accounting
fees and disbursements.

12.4.        Invalidity
and Waiver.  If any portion of this
Assignment is held invalid or inoperative, then so far as is reasonable and
possible the remainder of this Assignment shall be deemed valid and operative,
and, to the greatest extent legally possible, effect shall be given to the
intent manifested by the portion held invalid or inoperative.  The failure
by either party to enforce against the other any term or provision of this
Assignment shall not be deemed to be a waiver of such party’s right to enforce
against the other party the same or any other such term or provision in the
future.

12.5.        Governing
Law.  This Assignment shall, in all
respects, be governed, construed, applied, and enforced in accordance with the
law of the state in which the Properties are located.

12.6.        Survival.  The provisions of this Assignment and the
obligations of the parties not fully performed at the respective Closing shall
survive such Closing and shall not be deemed to be merged into or waived by the
instruments of such Closing.  Any claim
for performance of an obligation after such Closing shall be barred and shall
lapse unless a claim is made in writing, with a description of the claim made,
on or before the first anniversary of such Closing.

12.7.        No
Third Party Beneficiary.  This
Assignment is not intended to give or confer any benefits, rights, privileges,
claims, actions, or remedies to any person or entity as a third party
beneficiary, decree, or otherwise.

12.8.        Entirety
and Amendments.  This Assignment
embodies the entire agreement between the parties and supersedes all prior
agreements and understandings relating to the Properties.  This Assignment may be amended or
supplemented only in writing by a non-electronic instrument executed by the
party against whom enforcement is sought. 
For the

 14
 

 

avoidance
of doubt, copies of signed instruments that are electronically transmitted
constitute a writing for this purpose.

12.9.        Time
of the Essence.  Time is of the
essence in the performance of this Assignment.

12.10.      Time.  All times, whenever specified herein, shall
be local time in the state in which the Properties are located.

12.11.      Confidentiality.  Subject to Section 12.12, Assignor
agrees to keep all negotiations and the terms of this Assignment confidential,
and shall not disclose such terms to any person, without the prior written
approval of Assignee.  The foregoing
obligations shall survive the termination of this Assignment and the respective
Closing.  The foregoing shall not
preclude either party from discussing the substance or any relevant details of
such transactions with any of its attorneys, accountants, professional consultants,
lenders, partners, investors, or any prospective lender, partner or investor,
as the case may be, or prevent either party hereto, from complying with laws,
rules, regulations and court orders, including without limitation, state or
federal securities or environmental laws or regulations, governmental
regulatory, disclosure, tax and reporting requirements, or from making
disclosures in the ordinary course of its due diligence inspections and
contacts with third parties related thereto.

12.12.      Press
Release.  Neither Assignor nor Assignee
will release or cause or permit to be released any press notices, or publicity
(oral or written) or advertising promotion relating to, or otherwise announce
or disclose or cause or permit to be announced or disclosed, in any manner
whatsoever, the terms, conditions or substance of this Assignment without first
obtaining the written consent of the other party except those disclosures that
are required by law, including the Securities Act of 1933, or contractual
obligation (in which case notice shall be timely provided to the other party of
such requirement and disclosure).  The
foregoing shall not preclude either party from discussing the substance or any
relevant details of such transactions with any of its attorneys, accountants,
professional consultants, lenders, partners, investors, or any prospective
lender, partner or investor, as the case may be, or prevent either party
hereto, from complying with laws, rules, regulations and court orders,
including without limitation, governmental regulatory, disclosure, tax and
reporting requirements, or from making disclosures in the ordinary course of
its due diligence inspections and contacts with third parties related
thereto.  Notwithstanding the foregoing,
any party to this transaction (and each employee, agent or representative of
the foregoing) may disclose to any and all persons, without limitation of any
kind, the tax treatment and tax structure of the transaction and all materials
of any kind (including opinions or other tax analyses) that are provided to
them relating to such tax treatment and tax structure except to the extent
maintaining such confidentiality is necessary to comply with any applicable
federal or state securities laws.  The
authorization in the preceding sentence is not intended to permit disclosure of
any other information unrelated to the tax treatment and tax structure of the
transaction including (without limitation) (i) any portion of the transaction
documents or related materials to the extent not related to the tax treatment
or tax structure of the transaction, (ii) the existence or status of any
negotiations unrelated to the tax issues, or (iii) any other term or detail not
relevant to the tax treatment or the tax structure of the transaction.

 15
 

 

12.13.      Attorneys’
Fees.  Should either party employ
attorneys to enforce any of the provisions hereof, the non-prevailing party
agrees to pay the prevailing party all reasonable costs, charges, and expenses,
including reasonable attorneys’ fees, expended or incurred by the prevailing
party in connection therewith, whether incurred prior to, during or subsequent
to any bankruptcy, receivership, reorganization, appellate, or other legal
proceeding.

12.14.      Notices.  All notices required or permitted hereunder
shall be in writing and shall be served on the parties at the addresses set
forth below.  Any such notices shall be
either (i) sent by overnight delivery using a nationally recognized overnight
courier, in which case notice shall be deemed delivered one business day after
deposit with such courier, (ii) sent by facsimile on a business day, in which
case notice shall be deemed delivered upon transmission of such notice with
confirmed receipt by the sender’s machine, or (iii) sent by personal delivery,
in which case notice shall be deemed delivered upon receipt or refusal of
delivery.  A party’s address may be
changed by written notice to the other party; provided, however, that no notice
of a change of address shall be effective until actual receipt of such
notice.  Copies of notices are for informational
purposes only, and a failure to give or receive copies of any notice shall not
be deemed a failure to give notice.  The
attorney for a party has the authority to send notices on behalf of such party.

	
  

  	
  Assignor:

  	
   

  	
  Array BioPharma Inc.

  
	
   

  	
   

  	
   

  	
  3200 Walnut
  Street,

  
	
   

  	
   

  	
   

  	
  Boulder,
  Colorado, 80301

  
	
   

  	
   

  	
   

  	
  Attention: John
  Moore

  
	
   

  	
   

  	
   

  	
  Facsimile: (303)
  386-1290

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Assignee

  	
   

  	
  BioMed Realty, L.P.

  
	
   

  	
   

  	
   

  	
  17140 Bernardo
  Center Drive, Suite 222

  
	
   

  	
   

  	
   

  	
  San Diego,
  CA  92128

  
	
   

  	
   

  	
   

  	
  Attention:  General Counsel

  
	
   

  	
   

  	
   

  	
  Facsimile:      (858) 485-9843

  

12.15.      Construction.  The parties acknowledge that the parties and
their counsel have reviewed and revised this Assignment and that 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
Assignment or any exhibits or amendments hereto.

12.16.      Remedies
Cumulative.  Except as expressly
provided to the contrary in this Assignment, the remedies provided in this
Assignment shall be cumulative and shall not preclude the assertion or exercise
of any other rights or remedies available by law, in equity or otherwise.

12.17.      Calculation
of Time Periods.  Unless otherwise
specified, in computing any period of time described herein, the day of the act
or event after which the designated period of time begins to run is not to be
included and the last day of the period so computed is to be included, unless
such last day is a Saturday, Sunday or legal holiday for national banks in the
location where the Properties are located, in which event the period shall run
until the end of the next day which is neither a Saturday, Sunday, or legal
holiday.  The last day of any period of

 16
 

 

time
described herein and the time during any day by which an event must occur shall
be deemed to end at 5 p.m.

12.18.      Public
Company Requirements.  Upon Assignee’s
request, for a period of two (2) years after the respective Closing, Assignor
shall make any books and records of the Properties remaining in possession of
Assignor available to Assignee for inspection, copying and audit by Assignee’s
designated accountants, and at Assignee’s expense.  Assignor shall provide Assignee, but without
third-party expense to Assignor, with copies of, or access to, such factual
information in connection with this Assignment and/or the Properties as may be
reasonably requested by Assignee, and in the possession or control of Assignor,
to enable Assignee to comply with applicable filing requirements of the
Securities and Exchange Commission.  Assignee
or its designated independent or other accountants may audit the operating
statements of the Properties, and Assignor shall supply such documentation in
its possession or control as Assignee or its accountants may reasonably request
in order to complete such audit and shall provide to Assignee’s auditors a
representation letter from Assignor or its representative reasonably
satisfactory to Assignee’s auditors in connection with such audit.

12.19.      Execution
in Counterparts.  This Assignment may
be executed in any number of counterparts, each of which shall be deemed to be
an original, and all of such counterparts shall constitute one agreement. 
To facilitate execution of this Assignment, the parties may execute and
exchange by telephone facsimile counterparts of the signature pages.

12.20.      Further
Assurances.  In addition to the acts
and deeds recited herein and contemplated to be performed, executed or
delivered by either party at the respective Closing, each party agrees to
perform, execute and deliver, on or after such Closing any further actions,
documents, and will obtain such consents, as may be reasonably necessary or as
may be reasonably requested to fully effectuate the purposes, terms and
conditions of this Assignment or to further perfect the conveyance, transfer
and assignment of the Properties to Assignee.

12.21.      Approval.  To the extent any approval or consent shall
be required in this Assignment such approval or consent shall not be
unreasonably withheld, unless the terms of and conditions of such approval or
consent are to the sole discretion of such party.

12.22.      Waiver
of Jury Trial.  TO THE EXTENT
PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY WAIVE ANY AND ALL
RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY.

12.23.      Effective
Date.  Notwithstanding anything
contained herein to the contrary, this Agreement (and the Exhibits hereto)
shall be void and of no force or effect if the Boulder Option Agreement has not
been fully executed by Assignor and Boulder Seller on or before June 30, 2006.

[SIGNATURE PAGE FOLLOWS]

 17
 

 

IN WITNESS WHEREOF, the
undersigned have executed this Assignment as of the day and year first above
written.

	
  

  	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARRAY BIOPHARMA
  INC.,

  
	
   

  	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BIOMED REALTY,
  L.P.

  
	
   

  	
   

  	
  a Maryland
  limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  

 

[ASSIGNMENT AGREEMENT
SIGNATURE PAGE]

 18

 

EXHIBIT A

BOULDER OPTION AGREEMENT

(See following attached pages)

 

EXHIBIT B

EXISTING LONGMONT LEASE

(See following attached pages)

 

EXHIBIT C

EARNEST
MONEY ESCROW PROVISIONS

1.             Investment and Use of Funds.  The Escrow Agent shall invest the Earnest
Money in government insured interest-bearing accounts satisfactory to Assignee,
shall not commingle the Earnest Money with any funds of the Escrow Agent or
others, and shall promptly provide Assignee and Assignor with confirmation of
the investments made.  If the respective
Closing under this Assignment occurs, the Escrow Agent shall deliver the
Earnest Money to, or upon the instructions of, Assignor on such Closing Date.

2.             Termination. 
Except as otherwise expressly provided herein, upon not less than three
(3) business days’ prior written notice to the Escrow Agent and the other
party, Escrow Agent shall deliver the Earnest Money to the party requesting the
same; provided, however, that if the other party shall, within said three (3)
business day period, deliver to the requesting party and the Escrow Agent a
written notice that it disputes the claim to the Earnest Money, Escrow Agent
shall retain the Earnest Money until it receives written instructions executed
by both Assignor and Assignee as to the disposition and disbursement of the
Earnest Money, or until ordered by final court order, decree or judgment, which
is not subject to appeal, to deliver the Earnest Money to a particular party,
in which event the Earnest Money shall be delivered in accordance with such
notice, instruction, order, decree or judgment.

3.             Interpleader. 
Assignor and Assignee mutually agree that in the event of any
controversy regarding the Earnest Money, unless mutual written instructions are
received by the Escrow Agent directing the Earnest Money’s disposition, the
Escrow Agent shall not take any action, but instead shall await the disposition
of any proceeding relating to the Earnest Money or, at the Escrow Agent’s
option, the Escrow Agent may interplead all parties and deposit the Earnest
Money with a court of competent jurisdiction in which event the Escrow Agent
may recover all of its court costs and reasonable attorneys’ fees.  Assignor or Assignee, whichever loses in any
such interpleader action, shall be solely obligated to pay such costs and fees
of the Escrow Agent, as well as the reasonable attorneys’ fees of the
prevailing party in accordance with the other provisions of this Assignment.

4.             Liability of Escrow Agent.  The parties acknowledge that the Escrow Agent
is acting solely as a stakeholder at their request and for their convenience,
that the Escrow Agent shall not be deemed to be the agent of either of the
parties, and that the Escrow Agent shall not be liable to either of the parties
for any action or omission on its part taken or made in good faith, and not in
disregard of this Assignment, but shall be liable for its negligent acts and
for any loss, cost or expense incurred by Assignor or Assignee resulting from
the Escrow Agent’s mistake of law respecting the Escrow Agent’s scope or nature
of its duties.  Assignor and Assignee
shall jointly and severally indemnify and hold the Escrow Agent harmless from
and against all costs, claims and expenses, including reasonable attorneys’
fees, incurred in connection with the performance of the Escrow Agent’s duties
hereunder, except with respect to actions or omissions taken or made by the
Escrow Agent in bad faith, in disregard of this Assignment or involving
negligence on the part of the Escrow Agent.

 

EXHIBIT D

PROPERTY
INFORMATION

(a)           Leases.  Copies of all Existing Leases and license
agreements, and any and all subleases currently in effect;

(b)           Tenant Information.  Copies of financial statements of Assignor
covering the two years prior to this Assignment to the extent that it is not
publicly available, and any information relative to tenant payment history;

(c)           Service Contracts.  A list of and copies of any and all service
contracts affecting the Properties;

(d)           Maintenance Records.  All available maintenance work orders for the
12 months preceding this Assignment;

(e)           List of Capital Improvements.  A list of all capital improvements known to
Assignor and performed on the Properties prior to the date hereof;

(f)            Reports.  Any environmental, soil, structural
engineering, drainage and other physical inspection reports, assessments,
audits and surveys related to the Properties;

(g)           Plans and Specifications.  All construction plans and specifications
relating to the original development of the Properties, and any major capital
repairs or tenant improvements;

(h)           Insurance.  Copies of Assignor’s certificates of
insurance for the Properties and any notices received from insurance carriers;

(i)            Proceedings.  Copies of any documents or materials (except
for privileged documents) relating to any litigation, investigation,
condemnation, or proceeding of any kind pending or threatened affecting any of
the Properties or the ability of Assignor to consummate the transaction
contemplated by this Assignment;

(j)            Existing Title and Survey Documents.  Copy of existing title insurance policy, any
existing surveys of the Properties, zoning letters, studies, subdivision plats,
restrictions, any right of way agreements or easement agreements and a copy of
the existing mortgage effecting the Properties;

(k)           Architectural and Engineering
Records.  Copies of: any and all
elevator inspection certificates and reports; physical condition reports;
mechanical and electrical inspection reports; geotechnical reports; warranties
(roof, mechanical equipment, etc.); building permits and certificates of
occupancy; any structural and engineering studies prepared since original
construction; ADA surveys and reports; notices of any violations of building or
fire codes; maintenance logs for major equipment; and plans for any rooftop
antenna installations;

 

(l)            Property Management Records.  Copies of all notices of default received by
or sent to Assignor or contractors within the last 12 months; stored materials
inventory; a list of management and engineering personnel charged to the
Properties along with allocation percentages; utility bills, real estate tax
bills, and personal property bills for prior 36 months; current real
estate tax assessment notice; real estate tax assessment appeal history for
prior 36 months (proposed vs. actual); current real estate tax invoice receipt;
tenant list including names, corporate addresses, billing and mail address,
phone numbers and contact person; stacking plans; invoice files (copies of
current year’s paid invoices); and current building contacts, including
property manager, accountant and lease administrator;

(m)          Land/Development Records.  Copies of: any easements, CCRs or other
recorded documents affecting the Properties, and any unrecorded agreements to
which Assignee would be subject post-closing; all agreements with or
applications to any governmental authority relating to zoning, use,
development, subdivision or planning of the Properties; and information
relating to the availability and location of utilities;

(n)           Environmental Records.  All Phase One / Phase Two Environmental
Assessments for the Properties, asbestos audits of the Properties,
environmental reports related to the Properties; and any notices from or to any
governmental authority regarding hazardous materials on or relating to the
Properties;

(o)           Building Plans.  As-built building plans and specifications in
the possession or under the control of Assignor;

(p)           Condition Reports.  Structural, mechanical, ADA, and physical
condition reports in the possession or under the control of Assignor; and

(q)           Other.  Copies of any written notices from any
governmental agencies or tenants regarding the Properties; any and all
appraisals performed with respect to the Properties, and such other documents
or materials concerning the Properties as may be reasonably requested by
Assignee.

 

EXHIBIT E

ASSIGNMENT
OF BOULDER OPTION AGREEMENT

This ASSIGNMENT
AND ASSUMPTION OF OPTION AGREEMENT (this “Assignment”) is made as of
June 22, 2006 (the “Effective Date”), by and among Array BioPharma Inc.,
a Delaware corporation (“Assignor”), and BMR-3200 Walnut Street LLC, a
Delaware limited liability company (“Assignee”).

RECITALS

A.            WHEREAS, Assignor and 3200 Walnut
LL, LLC, a Delaware limited liability company (“Seller”), entered into
that certain Option Agreement dated as of June 19, 2006 (the “Boulder Option
Agreement”), a copy of which is attached hereto as Exhibit A,
pursuant to which Seller granted Assignor the option to purchase that certain
real property located at 1885 33rd Street, 1825 33rd Street, 1865 33rd Street,
and 3200 Walnut Street, Boulder, Colorado (the “Boulder Option”), as
more particularly described in Exhibit A to the Boulder Option Agreement (the “Boulder
Property”); and

B.            WHEREAS, Assignor desires to assign
its interest in the Boulder Option Agreement to Assignee.

AGREEMENT

NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto mutually agree as follows:

1.             Defined Terms.  All capitalized terms used but not otherwise
defined herein shall have the meaning assigned to such terms in the Boulder
Option Agreement.

2.             Assignment. Assignor hereby
sets over, transfers and assigns unto Assignee all of Assignor’s right, title
and interest in and to the Boulder Option Agreement.

3.             Assumption.  In consideration of the foregoing assignment,
Assignee hereby accepts the foregoing assignment and, from and after the
execution hereof, assumes and agrees to make, observe, keep and perform all of
the terms, covenants and conditions to be made, observed, kept and performed by
the Assignee under the Boulder Option Agreement, as fully as though Assignee
were originally named in the Boulder Option Agreement as the “Optionee”.

4.             Warranty.  Assignor hereby represents and warrants to
Assignee that: (a) it has not assigned the Boulder Option Agreement to any
other person or entity, and (b) it is not in breach or default of any of its
obligations under the Boulder Option Agreement.

5.             Indemnification. Assignor
shall defend, indemnify and hold harmless Assignee from and against any
liability, damages, causes of action, expenses, and attorneys’ fees incurred by
Assignee by reason of the failure of Assignor to fulfill, perform, discharge,
and observe its obligations with respect to the Boulder Option Agreement
arising before the Effective Date. 
Assignee shall defend, indemnify and hold harmless Assignor from and
against any liability,

 

damages, causes of
action, expenses, and attorneys’ fees incurred by Assignor by reason of the
failure of Assignor to fulfill, perform, discharge, and observe its obligations
with respect to the Boulder Option Agreement arising on or after the Effective
Date.

6.             Governing Law.  This Assignment shall be governed by the law
of the State of Colorado.

7.             Counterparts.  This Assignment may be executed in one or
more counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument executed on the date first
set forth.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

IN
WITNESS WHEREOF, the parties hereto have executed this Assignment as of the
date first above written.

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  ARRAY BIOPHARMA INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
   

  	
  BMR-3200 WALNUT STREET LLC,

  
	
   

  	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  BIOMED REALTY, L.P.,

  a Maryland limited partnership

  its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CONSENTED
  TO:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SELLER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  3200
  WALNUT LL, LLC,

  	
   

  	
   

  
	
  a Delaware
  limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  QOL Independent
  Corp.

  	
   

  	
   

  
	
   

  	
  Its Managing
  Member

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   Name:

  	
   

  	
   

  
	
   

  	
   Title:

  	
   

  	
   

  
											

 

EXHIBIT F

BOULDER
LEASE

(See following attached pages)

 

EXHIBIT G

ASSIGNMENT
OF LONGMONT PURCHASE AGREEMENT

This ASSIGNMENT
AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT (this “Assignment”) is
made as of June [       ], 2006 (the “Effective
Date”), by and among Array BioPharma Inc., a Delaware corporation (“Assignor”),
BMR-Trade Center Avenue LLC, a Delaware limited liability company (“Assignee”),
and Circle Capital Longmont LLC, a Delaware limited liability company (“Seller”).

RECITALS

A.            WHEREAS, pursuant to that certain
Purchase and Sale Agreement dated [                             ],
2006  (as amended, the “Purchase
Agreement”), by and between Assignor and Seller, Seller agreed to sell to
Assignor, and Assignor agreed to purchase from Seller, the real property
described in Exhibit “A” attached hereto (the “Land”) and certain
improvements located on the Land; and

B.            WHEREAS, Assignor desires to assign
its interest in the Purchase Agreement to Assignee.

AGREEMENT

NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto mutually agree as follows:

1.             Defined Terms.  All capitalized terms used but not otherwise
defined herein shall have the meaning assigned to such terms in the Purchase
Agreement.

2.             Assignment. Assignor hereby
sets over, transfers and assigns unto Assignee all of Assignor’s right, title
and interest in and to the Purchase Agreement.

3.             Assumption.  In consideration of the foregoing assignment,
Assignee hereby accepts the foregoing assignment and, from and after the
execution hereof, assumes and agrees to make, observe, keep and perform all of
the terms, covenants and conditions to be made, observed, kept and performed by
the Assignee under the Purchase Agreement, as fully as though Assignee were
originally named in the Purchase Agreement as the Purchaser.

4.             Warranty.  Assignor hereby represents and warrants to
Assignee that: (a) it has not assigned the Purchase Agreement to any other
person or entity, and (b) it is not in breach or default of any of its
obligations under the Purchase Agreement.

5.             Indemnification. Assignor
shall defend, indemnify and hold harmless Assignee from and against any
liability, damages, causes of action, expenses, and attorneys’ fees incurred by
Assignee by reason of the failure of Assignor to fulfill, perform, discharge,
and observe its obligations with respect to the Purchase Agreement arising
before the Effective Date.  Assignee
shall defend, indemnify and hold harmless Assignor from and against any
liability, damages, causes of action, expenses, and attorneys’ fees incurred by
Assignor by reason of the failure of

 

Assignor to
fulfill, perform, discharge, and observe its obligations with respect to the
Purchase Agreement arising on or after the Effective Date.

6.             Governing Law.  This Assignment shall be governed by the law
of the State of Colorado.

7.             Counterparts.  This Assignment may be executed in one or
more counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument executed on the date first
set forth.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

IN
WITNESS WHEREOF, the parties hereto have executed this Assignment as of the
date first above written.

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  ARRAY BIOPHARMA INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
   

  	
  BMR-TRADE CENTRE AVENUE LLC,

  
	
   

  	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  BIOMED REALTY, L.P.,

  a Maryland limited partnership

  its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ACKNOWLEDGED
  AND AGREED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SELLER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CIRCLE
  CAPITAL LONGMONT LLC,

  	
   

  	
   

  
	
  a Delaware
  limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
     Name:

  	
   

  	
   

  
	
   

  	
     Title:

  	
   

  	
   

  
										

 

 

EXHIBIT H

ASSIGNMENT
OF LONGMONT OPTION

This ASSIGNMENT OF
LONGMONT OPTION (this “Assignment”) is made as of [                               ],
2006 (the “Effective Date”), by and among Array BioPharma Inc., a
Delaware corporation (“Assignor”), BMR-Trade Center Avenue LLC, a
Delaware limited liability company (“Assignee”), and Circle Capital
Longmont LLC, a Delaware limited liability company (“Seller”).

RECITALS

A.            WHEREAS, Assignor and Seller have
previously entered into that certain Lease Agreement, dated as of February 28,
2000, as amended by: (a) Addendum to Lease Agreement No. 1 dated May 24, 2001,
(b) Addendum to Lease Agreement No. 2 dated February 11, 2002, (c) Addendum to
Lease Agreement No. 3 dated November 30, 2004, (d) Addendum No. 4 to Lease
Agreement dated as of August 4, 2005 (the “Addendum No. 4”), (e)
Addendum No. 5 to Lease Agreement dated as of November 30, 2006, (f) Addendum
No. 6 to Lease Agreement dated as of December 22, 2005, (g) Addendum No. 7 to
Lease Agreement dated as of February 28, 2006, and (h) Addendum No. 8 to Lease
Agreement dated as of March 1, 2006 (as amended, the “Longmont Lease”),
a copy of which is attached hereto as Exhibit A,
pursuant to which: (i) Assignor leased that certain real property located at
2600 and 2620 Trade Centre Avenue, Longmont, Colorado, as more particularly
described in Exhibit A to the Longmont Lease (the “Longmont Property”),
and (ii) Seller granted Assignor the option to purchase the Longmont Property
on the terms and conditions set forth in Section 12 of Addendum No. 4 to the
Longmont Lease (the “Longmont Option”); and

B.            WHEREAS, Assignor desires to assign
its interest in the Longmont Option to Assignee.

AGREEMENT

NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto mutually agree as follows:

1.             Defined Terms.  All capitalized terms used but not
otherwise defined herein shall have the meaning assigned to such terms in the
Longmont Lease.

2.             Assignment.
Assignor hereby sets over, transfers and assigns unto Assignee all of Assignor’s
right, title and interest in and to the Longmont Option.

3.             Assumption.  In consideration of the foregoing assignment,
Assignee hereby accepts the foregoing assignment and, from and after the
execution hereof, assumes and agrees to make, observe, keep and perform all of
the terms, covenants and conditions to be made, observed, kept and performed by
the Assignee under Section 12 of Addendum No. 4 to the Longmont Lease, as fully
as though Assignee were originally named in the Longmont Lease as the “Tenant”.

 

4.             Warranty.  Assignor hereby represents and warrants to
Assignee that: (a) it has not assigned the Longmont Option to any other person
or entity, and (b) it is not in breach or default of any of its obligations
under the Longmont Lease.

5.             Indemnification.
Assignor shall defend, indemnify and hold harmless Assignee from and against
any liability, damages, causes of action, expenses, and attorneys’ fees
incurred by Assignee by reason of the failure of Assignor to fulfill, perform,
discharge, and observe its obligations with respect to the Longmont Lease,
including any obligations with respect to the Longmont Option arising before
the Effective Date.  Assignee shall
defend, indemnify and hold harmless Assignor from and against any liability,
damages, causes of action, expenses, and attorneys’ fees incurred by Assignor
by reason of the failure of Assignor to fulfill, perform, discharge, and
observe its obligations with respect to the Longmont Option pursuant to Section
12 of Addendum No. 4 to the Longmont Lease arising on or after the Effective
Date.

6.             Governing
Law.  This Assignment shall be
governed by the law of the State of Colorado.

7.             Counterparts.  This Assignment may be executed in
one or more counterparts, each of which shall be deemed an original, but all of
which together will constitute one and the same instrument executed on the date
first set forth.

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

IN
WITNESS WHEREOF, the parties hereto have executed this Assignment as of the
date first above written.

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  ARRAY BIOPHARMA INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
   

  	
  BMR-TRADE CENTRE AVENUE LLC,

  
	
   

  	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  BIOMED REALTY, L.P.,

  a Maryland limited partnership

  its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ACKNOWLEDGED
  AND AGREED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SELLER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CIRCLE
  CAPITAL LONGMONT LLC,

  	
   

  	
   

  
	
  a Delaware
  limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
     Name:

  	
   

  	
   

  
	
   

  	
     Title:

  	
   

  	
   

  
										

 

 

EXHIBIT I

LONGMONT
LEASE

(See following attached pages)

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