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Exhibit 10.15    
    

      

 
 

LEASE AGREEMENT BETWEEN    
    
    HI/OCC, INC.,    
    
    AS LANDLORD, AND    
    
    PDSHEART, INC.,    
    
    AS TENANT    
    
    DATED September 21st,
2006    
    
    EDINA, MINNESOTA    
    

   BASIC LEASE INFORMATION  

	Lease Date:	 	September            , 2006	 	 
	

Landlord:	
 	
HI/OCC, INC., a Minnesota corporation
	

Tenant:	
 	
PDSHeart, Inc., a Delaware corporation
	

Premises:	
 	

Suite No. 235, containing approximately 2,035 rentable square feet, in the office building commonly known as One Corporate Center I (the "Building"), and whose street address is 7401 Metro
Boulevard, Edina, Minnesota. The Premises are outlined on the plan attached to the Lease as Exhibit A. The land on which the Building is located (the "Land") is described on Exhibit B. The term "Project" shall collectively refer to the Building, the Land and the driveways, parking facilities, and
similar improvements and easements associated with the foregoing or the operation thereof.
	

Term:	
 	

Approximately sixty-six (66) months, commencing on the Commencement Date and ending at 5:00 p.m. local time on the last day of the 66th full calendar month following the Commencement Date, subject to adjustment and earlier termination as provided in
the Lease.
	

Commencement Date:	
 	

The earlier of (a) the date on which Tenant occupies any portion of the Premises and begins conducting business therein, or (b) October 1, 2006.
	

Basic Rent	
 	

Basic Rent shall be the following amounts for the following periods of time:
	

 
	
 	
Lease Month
	
 	

Monthly Basic Rent

	 	 	1-6	 	$3,222.08*
	 	 	7-12	 	$3,222.08
	 	 	13-24	 	$3,222.08
	 	 	25-36	 	$3,306.88
	 	 	37-48	 	$3,391.67
	 	 	49-60	 	$3,391.67
	 	 	61-66	 	$3,476.46
	

 	
 	

 *Subject to Exhibit I attached hereto.
	

 	
 	

As used herein, the term "Lease Month" shall mean each calendar month during the Term (and if the Commencement Date does not occur on the first day of a calendar month, the period from the
Commencement Date to the first day of the next calendar month shall be included in the first Lease Month for purposes of determining the duration of the Term and the monthly Basic Rent rate applicable for such partial month).
	

Security Deposit:	
 	

$5,000.00.
	

Rent:	
 	

Basic Rent, Tenant's Proportionate Share of Taxes and Electrical Costs, Tenant's share of Additional Rent, and all other sums that Tenant may owe to Landlord or otherwise be required to pay under the Lease.
	

Permitted Use:	
 	

General office use.
	 	 	 	 	 

i

 

	

Tenant's Proportionate Share:	
 	

1.83%, which is the percentage obtained by dividing (a) the number of rentable square feet in the Premises as stated above by (b) the 110,836 rentable square feet in the Building. Landlord and Tenant stipulate that the number of rentable square feet
in the Premises and in the Building set forth above is conclusive and shall be binding upon them.
	

Expense Stop:	
 	

Operating Costs for the calendar year 2006 grossed up as provided in Section 4(b)(6) of the Lease.
	

Base Tax Year:	
 	

The calendar year 2006.
	

Initial Liability Insurance Amount:	
 	

2,000,000
	

Tenant's Address:	
 	

Prior to Commencement Date:

3601 Minnesota Drive

Suite 800

Edina, Minnesota 55435

Attention:         

Telephone:            -            -          

Telecopy:            -            -            	
 	

Following Commencement Date:

One Corporate Center I

7401 Metro Boulevard, Suite 235

Edina, Minnesota 55439

Attention:         

Telephone:            -            -          

Telecopy:            -            -            
	

Landlord's Address:	
 	

For all Notices:

HI/OCC, Inc.

C/o Urdang Capital Management

630 West Germantown Pike

Suite 300

Plymouth Meeting, PA. 19462

attn: Asset Manager

P: 888- 660-9500

F: 610-834-9505	
 	

With a copy to:

7300 Metro Boulevard

Suite 150

Edina, Minnesota 55439

Attention: Property Manager

Telephone: 952-897-1990

Telecopy: 952-897-1946

ii

 

The
foregoing Basic Lease Information is incorporated into and made a part of the Lease identified above. If any conflict exists between any Basic Lease Information and the Lease, then the Lease shall
control. 

	LANDLORD:	 	HI/OCC, INC., a Minnesota corporation
	

 	
 	

By:	

/s/ Mark B. Greco

	 	 	Name:	Mark B. Greco

	 	 	Title:	Vice Pres.

	
TENANT:	
 	

PDSHEART, Inc., a Delaware corporation
	

 	
 	

By:	

/s/ Gregory A. Marsh

	 	 	Name:	Gregory A. Marsh

	 	 	Title:	COO & CFO, PDSHEART, Inc.

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TABLE OF CONTENTS  

	 
	 	 
	 	 
	 	Page No.

	1.	 	Definitions and Basic Provisions	 	1
	

2.	
 	

Lease Grant	
 	

1
	

3.	
 	

Tender of Possession	
 	

1
	

4.	
 	

Rent	
 	

2
	 	 	(a)	 	Payment	 	2
	 	 	(b)	 	Operating Costs; Taxes; Electrical Costs	 	2
	

5.	
 	

Delinquent Payment; Handling Charges	
 	

4
	

6.	
 	

Security Deposit	
 	

4
	

7.	
 	

Landlord's Obligations	
 	

5
	 	 	(a)	 	Services	 	5
	 	 	(b)	 	Excess Utility Use	 	5
	 	 	(c)	 	Restoration of Services; Abatement	 	5
	

8.	
 	

Improvements; Alterations; Repairs; Maintenance	
 	

6
	 	 	(a)	 	Improvements; Alterations	 	6
	 	 	(b)	 	Repairs; Maintenance	 	6
	 	 	(c)	 	Performance of Work	 	6
	 	 	(d)	 	Mechanic's Liens	 	7
	

9.	
 	

Use	
 	

7
	

10.	
 	

Assignment and Subletting	
 	

8
	 	 	(a)	 	Transfers	 	8
	 	 	(b)	 	Consent Standards	 	8
	 	 	(c)	 	Request for Consent	 	8
	 	 	(d)	 	Conditions to Consent	 	9
	 	 	(e)	 	Attornment by Subtenants	 	9
	 	 	(f)	 	Cancellation	 	9
	 	 	(g)	 	Additional Compensation	 	9
	 	 	(h)	 	Permitted Transfers	 	10
	 	 	(i)	 	Assignment of Subrents	 	10
	

11.	
 	

Insurance; Waivers; Subrogation; Indemnity	
 	

11
	 	 	(a)	 	Tenant's Insurance	 	11
	 	 	(b)	 	Landlord's Insurance	 	11
	 	 	(c)	 	No Subrogation	 	11
	 	 	(d)	 	Indemnity	 	12
	

12.	
 	

Subordination; Attornment; Notice to Landlord's Mortgagee	
 	

12
	 	 	(a)	 	Subordination	 	12
	 	 	(b)	 	Attornment	 	12
	 	 	(c)	 	Notice to Landlord's Mortgagee	 	13
	 	 	(d)	 	Landlord's Mortgagee's Protection Provisions	 	13
	

13.	
 	

Rules and Regulations	
 	

13
	

14.	
 	

Condemnation	
 	

13
	 	 	(a)	 	Total Taking	 	13
	 	 	 	 	 	 	 

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	 	 	(b)	 	Partial Taking — Tenant's Rights	 	13
	 	 	(c)	 	Partial Taking — Landlord's Rights	 	13
	 	 	(d)	 	Temporary Taking	 	14
	 	 	(e)	 	Award	 	14
	

15.	
 	

Fire or Other Casualty	
 	

14
	 	 	(a)	 	Repair Estimate	 	14
	 	 	(b)	 	Tenant's Rights	 	14
	 	 	(c)	 	Landlord's Rights	 	14
	 	 	(d)	 	Repair Obligation	 	14
	 	 	(e)	 	Abatement of Rent	 	15
	

16.	
 	

Personal Property Taxes	
 	

15
	

17.	
 	

Events of Default	
 	

15
	 	 	(a)	 	Payment Default	 	15
	 	 	(b)	 	Abandonment	 	15
	 	 	(c)	 	Estoppel	 	15
	 	 	(d)	 	Insurance	 	15
	 	 	(e)	 	Mechanic's Liens	 	15
	 	 	(f)	 	Other Defaults	 	16
	 	 	(g)	 	Insolvency	 	16
	

18.	
 	

Remedies	
 	

16
	 	 	(a)	 	Re-Entry Without Termination	 	16
	 	 	(b)	 	Damages in the Event of Termination	 	16
	 	 	(c)	 	Miscellaneous	 	17
	

19.	
 	

Payment by Tenant; Non-Waiver; Cumulative Remedies	
 	

17
	 	 	(a)	 	Payment by Tenant	 	17
	 	 	(b)	 	No Waiver	 	17
	 	 	(c)	 	Cumulative Remedies	 	18
	

20.	
 	

Intentionally Omitted	
 	

18
	

21.	
 	

Surrender of Premises	
 	

18
	

22.	
 	

Holding Over	
 	

18
	

23.	
 	

Certain Rights Reserved by Landlord	
 	

19
	 	 	(a)	 	Building Operations	 	19
	 	 	(b)	 	Security	 	19
	 	 	(c)	 	Prospective Purchasers and Lenders	 	19
	 	 	(d)	 	Prospective Tenants	 	19
	

24.	
 	

Substitution Space	
 	

19
	

25.	
 	

Miscellaneous	
 	

19
	 	 	(a)	 	Landlord Transfer	 	19
	 	 	(b)	 	Landlord's Liability	 	20
	 	 	(c)	 	Force Majeure	 	20
	 	 	(d)	 	Brokerage	 	20
	 	 	(e)	 	Estoppel Certificates	 	20
	 	 	(f)	 	Notices	 	20
	 	 	(g)	 	Separability	 	20
	 	 	 	 	 	 	 

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	 	 	(h)	 	Amendments; Binding Effect; No Electronic Records	 	21
	 	 	(i)	 	Quiet Enjoyment	 	21
	 	 	(j)	 	No Merger	 	21
	 	 	(k)	 	No Offer	 	21
	 	 	(l)	 	Entire Agreement	 	21
	 	 	(m)	 	Waiver of Jury Trial	 	21
	 	 	(n)	 	Governing Law	 	21
	 	 	(o)	 	Recording	 	21
	 	 	(p)	 	Joint and Several Liability	 	22
	 	 	(q)	 	Financial Reports	 	22
	 	 	(r)	 	Landlord's Fees	 	22
	 	 	(s)	 	Telecommunications	 	22
	 	 	(t)	 	Confidentiality	 	22
	 	 	(u)	 	Legal Fees	 	23
	 	 	(v)	 	Authority	 	23
	 	 	(w)	 	Hazardous Materials	 	23
	 	 	(x)	 	Signage	 	23
	 	 	(y)	 	Access	 	23
	 	 	(z)	 	List of Exhibits	 	23
	

26.	
 	

Other Provisions	
 	

24
	 	 	(a)	 	Tenant's Termination Right	 	24

vi

   LEASE  

        This Lease Agreement (this "Lease") is entered into as of
September    , 2006, between HI/OCC, INC., a Minnesota corporation
("Landlord"), and PDSHEART,  Inc., a Delaware
corporation ("Tenant"). 

        1.    Definitions and Basic Provisions.    The definitions and basic
provisions set forth in the Basic Lease Information (the "Basic Lease Information") executed by Landlord
and Tenant contemporaneously herewith are incorporated herein by reference for all purposes. Additionally, the following terms shall have the following meanings when used in this Lease:  "Affiliate" means any person or entity which, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with the party in question; "Building's
Structure" means the Building's exterior walls, roof, elevator shafts, footings, foundations, structural portions of load-bearing walls,
structural floors and subfloors, and structural columns and beams; "Building's Systems" means the
Building's HVAC, life-safety, plumbing, electrical, and mechanical systems; "Including"
means including, without limitation; "Laws" means all federal, state, and local laws, ordinances, rules
and regulations, all court orders, governmental directives, and governmental orders and all interpretations of the foregoing, and all restrictive covenants affecting the Project, and  "Law" shall mean any of the foregoing; "Tenant's
Off-Premises Equipment" means any of Tenant's equipment or other property that may be located on or about the Project (other than inside the
Premises); and "Tenant Party" means any of the following persons: Tenant; any assignees claiming by,
through, or under Tenant; any subtenants claiming by, through, or under Tenant; and any of their respective agents, contractors, employees, licensees, guests and invitees. 

        2.    Lease Grant.    Subject to the terms of this Lease, Landlord
leases to Tenant, and Tenant leases from Landlord, the Premises. 

        3.    Tender of Possession.    Landlord and Tenant presently
anticipate that possession of the Premises will be tendered to Tenant in the condition required by this Lease on or about October 1, 2006 (the  "Estimated Delivery Date"). If Landlord is unable to tender possession of the Premises in such condition
to Tenant by the Estimated Delivery Date, then, subject to the exceptions in this paragraph, (a) the validity of this Lease shall not be affected or impaired thereby, (b) Landlord shall
not be in default hereunder or be liable for damages therefor, and (c) Tenant shall accept possession of the Premises when Landlord tenders possession thereof to Tenant. If Landlord is unable
to tender possession of the Premises in the condition required by this lease on to Tenant by the thirtieth day following the Estimated Delivery Date (the "Required Delivery Date"), then for each day
after the Required Delivery Date that Landlord has failed to tender possession of the Premises to Tenant, provided such delay has not been caused by Tenant, Tenant shall be entitled to one free day of
Base Rent once this lease commences. In the event
that Landlord is unable to tender possession of the Premises to Tenant within 120 days following the Estimated Delivery Date, then Tenant, at its option may terminate this Lease. 

        By
occupying the Premises, Tenant shall be deemed to have accepted the Premises in their condition as of the date of such occupancy, subject to the performance of punch-list
items that remain to be performed by Landlord, if any. Prior to occupying the Premises, Tenant shall execute and deliver to Landlord a letter substantially in the form of  Exhibit E hereto
confirming (1) the Commencement Date and the expiration date of the initial Term, (2) that Tenant has accepted the
Premises, and (3) that Landlord has performed all of its obligations with respect to the Premises (except for punch-list items specified in such letter); however, the failure of the
parties to execute such letter shall not defer the Commencement Date or otherwise invalidate this Lease. Occupancy of the Premises by Tenant prior to the Commencement Date shall be subject to all of
the provisions of this Lease excepting only those requiring the payment of Basic Rent, Additional Rent, Taxes and Electrical Costs (each as defined herein). Notwithstanding anything herein to the
contrary, Tenant shall have access to 

1

 

the
Premises two (2) weeks prior to the Commencement Date for furniture delivery and telecom set-up, subject to all the terms and conditions of this Lease other than those requiring
payment of Basic Rent, Taxes, and Operating Costs. 

        4.    Rent.    

        (a)    Payment.    Tenant shall timely pay to Landlord Rent, without notice, demand, deduction
or set off (except as otherwise expressly provided herein), by good and sufficient check drawn on a national banking association at Landlord's address provided for in this Lease or as otherwise
specified by Landlord and shall be accompanied by all applicable state and local sales or use taxes. The obligations of Tenant to pay Basic Rent and other sums to Landlord and the obligations of
Landlord under this Lease are independent obligations. Basic Rent, adjusted as herein provided, shall be payable monthly in advance. The first monthly installment of Basic Rent shall be payable
contemporaneously with the execution of this Lease; thereafter, Basic Rent shall be payable on the first day of each month beginning on the first day of the second full calendar month of the Term. The
monthly Basic Rent for any partial month at the beginning of the Term shall equal the product of 1/365 of the annual Basic Rent in effect during the partial month and the number of days in the partial
month and shall be due on the Commencement Date. Payments of Basic Rent for any fractional calendar month at the end of the Term shall be similarly prorated. Tenant shall pay Additional Rent at the
same time and in the same manner as Basic Rent. 

        (b)    Operating Costs; Taxes; Electrical Costs.    

        (1)   Tenant
shall pay to Landlord the amount (per each rentable square foot in the Premises) ("Additional
Rent") by which the annual Operating Costs (defined below) per rentable square foot in the Building exceed the Expense Stop (per rentable square foot in
the Building). Landlord may make a good faith estimate of the Additional Rent to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar
year of the Term (after the base year, if the Expense Stop is calculated on a base year basis), Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an
amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the
Additional Rent to be due by Tenant and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Additional Rent payable by Tenant shall be
appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Additional Rent as estimated by Landlord. Any amounts
paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year. 

        (2)   The
term "Operating Costs" shall mean all expenses and disbursements
(subject to the limitations set forth below) that Landlord incurs in connection with the ownership, operation, and maintenance of the Project, determined in accordance with sound accounting principles
consistently applied, including the following costs: (A) wages and salaries of all on-site employees at or below the grade of senior building manager engaged in the operation,
maintenance or security of the Project (together with Landlord's reasonable allocation of expenses of off-site employees at or below the grade of senior building manager who perform a
portion of their services in connection with the operation, maintenance or security of the Project), including taxes, insurance and benefits relating thereto; (B) all supplies and materials
used in the operation, maintenance, repair, replacement, and security of the Project; (C) costs for improvements made to the Project which, although capital in nature, are expected to reduce
the normal operating costs (including all utility costs) of the Project, as amortized using a commercially reasonable interest rate over the time period reasonably estimated by 

2

 

Landlord
to recover the costs thereof taking into consideration the anticipated cost savings, as determined by Landlord using its good faith, commercially reasonable judgment, as well as capital
improvements made in order to comply with any Law hereafter promulgated by any governmental authority or any interpretation hereafter rendered with respect to any existing Law, as amortized using a
commercially reasonable interest rate over the useful economic life of such improvements as determined by Landlord in its reasonable discretion; (D) cost of all utilities, except Electrical
Costs and the cost of other utilities reimbursable to Landlord by the Project's tenants other than pursuant to a provision similar to this Section 4(b); (E) insurance expenses;
(F) repairs, replacements, and general maintenance of the Project; (G) fair market rental and other costs with respect to the management office for the Building; and (H) service,
maintenance and management contracts with independent contractors for the operation, maintenance, management, repair, replacement, or security of the Project (including alarm service, window cleaning,
and elevator maintenance). If the Building is part of a multi-building office complex (the "Complex"),
Operating Costs, Taxes and Electrical Costs for the Complex may be prorated among the Project and the other buildings of the Complex, as reasonably determined by Landlord. 

Operating
Costs shall not include costs for (i) capital improvements made to the Building (including any expense that would be considered capital in nature under Generally Accepted Accounting
Principals ("GAAP")), other than capital improvements described in Section 4(b)(2)(C) and except for items which are generally considered maintenance and repair items, such as painting of
common areas, replacement of carpet in elevator lobbies, and the like; (ii) repair, replacements and general maintenance paid by proceeds of insurance or by Tenant or other third parties;
(iii) interest, amortization or other payments on loans to Landlord; (iv) depreciation; (v) leasing commissions; (vi) legal expenses for services, other than those that
benefit the Project tenants generally (e.g., tax disputes); (vii) renovating or otherwise improving space for occupants of the Project or vacant space in the Project; (viii) Taxes; and
(ix) federal income taxes imposed on or measured by the income of Landlord from the operation of the Project. If the Expense Stop is calculated on a base year basis, Operating Costs for the
base year only shall not include market-wide labor-rate increases due to extraordinary circumstances, including boycotts and strikes; utility rate increases due to
extraordinary circumstances, including conservation surcharges, boycotts, embargos or other shortages; or amortized costs relating to capital improvements. 

        (3)   Tenant
shall also pay Tenant's Proportionate Share of any increase in Taxes for each year and partial year falling within the Term over the Taxes for the Base Tax Year.
Tenant shall pay Tenant's Proportionate Share of Taxes in the same manner as provided above for Tenant's Proportionate Share of Operating Costs.  "Taxes" shall mean taxes, assessments, and governmental charges or fees whether federal, state, county
or municipal, and whether they be by taxing districts or authorities presently taxing or by others, subsequently created or otherwise, and any other taxes and assessments (including
non-governmental assessments for common charges under a restrictive covenant or other private agreement that are not treated as part of Operating Costs) now or hereafter attributable to
the Project (or its operation), excluding, however, penalties and interest thereon and federal and state taxes on income (if the present method of taxation changes so that in lieu of or in addition to
the whole or any part of any Taxes, there is levied on Landlord a capital tax directly on the rents received therefrom or a franchise tax, assessment, or charge based, in whole or in part, upon such
rents for the Project, then all such taxes, assessments, or charges, or the part thereof so based, shall be deemed to be included within the term "Taxes" for purposes hereof). Taxes shall include the
costs of consultants retained in an effort to lower taxes and all costs incurred in disputing any taxes or in seeking to lower the tax valuation of the Project. For property tax purposes, 

3

 

Tenant
waives all rights to protest or appeal the appraised value of the Premises, as well as the Project, and all rights to receive notices of reappraisement. 

        (4)   Tenant
shall also pay to Landlord Tenant's Proportionate Share of the cost of all electricity used by the Project
("Electrical Costs"). Such amount shall be payable in monthly installments on the Commencement Date and
on the first day of each calendar month thereafter. Each installment shall be based on Landlord's estimate of the amount due for each month. From time to time during any calendar year, Landlord may
estimate or re-estimate the Electrical Costs to be due by Tenant for that calendar year and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly
installments of Electrical Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations. 

        (5)   By
April 1 of each calendar year, or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement of Operating Costs and Electrical Costs for
the previous year, in each case adjusted as provided in Section 4(b)(6), and of the Taxes for the previous year (the "Operating Costs and Tax
Statement"). If Tenant's estimated payments of Operating Costs, Electrical Costs or Taxes under this Section 4(b) for the year covered by the
Operating Costs and Tax Statement exceed Tenant's Proportionate Share of such items as indicated in the Operating Costs and Tax Statement, then Landlord shall promptly credit or reimburse Tenant for
such excess; likewise, if Tenant's estimated payments of Operating Costs, Electrical Costs or Taxes under this Section 4(b) for such year are less than Tenant's Proportionate Share of such
items as indicated in the Operating Costs and Tax Statement, then Tenant shall promptly pay Landlord such deficiency. 

        (6)   With
respect to any calendar year or partial calendar year in which the Building is not occupied to the extent of 95% of the rentable area thereof, or Landlord is not
supplying services to 95% of the rentable area thereof, the Operating Costs and Electrical Costs for such period shall, for the purposes hereof, be increased to the amount which would have been
incurred had the Building been occupied to the extent of 95% of the rentable area thereof and Landlord had been supplying services to 95% of the rentable area thereof. 

        5.    Delinquent Payment; Handling Charges.    All past due payments
required of Tenant hereunder shall bear interest from the date due until paid at the lesser of eighteen percent per annum or the maximum lawful rate of interest (such lesser amount is referred to
herein as the "Default Rate"); additionally, Landlord, in addition to all other rights and remedies
available to it, may charge Tenant a fee equal to five percent of the delinquent payment to reimburse Landlord for its cost and inconvenience incurred as a consequence of Tenant's delinquency. In no
event, however, shall the charges permitted under this Section 5 or elsewhere in this Lease, to the extent they are considered to be interest under applicable Law, exceed the maximum lawful
rate of interest. Notwithstanding the foregoing, the late fee referenced above shall not be charged with respect to the first occurrence (but not any subsequent occurrence) during any
12-month period that Tenant fails to make payment when due, until five days after Landlord delivers written notice of such delinquency to Tenant. 

        6.    Security Deposit.    Contemporaneously with the execution of
this Lease, Tenant shall pay to Landlord the Security Deposit, which shall be held by Landlord to secure Tenant's performance of its obligations under this Lease. The Security Deposit is not an
advance payment of Rent or a measure or limit of Landlord's damages upon an Event of Default (as defined herein). Landlord may, from time to time following an Event of Default and without prejudice to
any other remedy, use all or a part of the Security Deposit to perform any obligation Tenant fails to perform hereunder. Following any such application of the Security Deposit, Tenant shall pay to
Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Provided that Tenant has performed all of its obligations hereunder, Landlord shall, within
30 days after the Term ends, return to Tenant the portion of the Security Deposit which was not applied to satisfy Tenant's obligations. The Security 

4

 

Deposit
may be commingled with other funds, and no interest shall be paid thereon. If Landlord transfers its interest in the Premises and the transferee assumes Landlord's obligations under this
Lease, then Landlord may assign the Security Deposit to the transferee and Landlord thereafter shall have no further liability for the return of the Security Deposit. 

        7.    Landlord's Obligations.    

        (a)    Services.    Landlord shall use all reasonable efforts to furnish to Tenant
(1) water at those points of supply provided for general use of tenants of the Building; (2) heated and refrigerated air conditioning
("HVAC") as appropriate, at such temperatures and in such amounts as are standard for comparable
buildings in the vicinity of the Building; (3) janitorial service to the Premises on weekdays, other than holidays, for Building-standard installations and such window washing as may from time
to time be reasonably required; (4) elevators for ingress and egress to the floor on which the Premises are located, in common with other tenants, provided that Landlord may reasonably limit
the number of operating elevators during non-business hours and holidays; and (5) electrical current during normal business hours for equipment that does not require more than 110
volts and whose electrical energy consumption does not exceed normal office usage. Landlord shall maintain the common areas of the Building in reasonably good order and condition, except for damage
caused by a Tenant Party. Notwithstanding anything herein to the contrary, Landlord shall charge Tenant $100.00 per month throughout the Term to run HVAC service in the Premises 7 days per
week, and 24 hours per day, which sum is to be paid by Tenant as Additional Rent. 

        (b)    Excess Utility Use.    Landlord shall not be required to furnish electrical current for
equipment that requires more than 110 volts or other equipment whose electrical energy consumption exceeds normal office usage. If Tenant's requirements for or consumption of electricity exceed the
electricity to be provided by Landlord as described in Section 7(a), Landlord shall, at Tenant's expense, make reasonable efforts to supply such service through the then-existing
feeders and risers serving the Building and the Premises, and Tenant shall pay to Landlord the cost of such service within 30 days after Landlord has delivered to Tenant an invoice therefor.
Landlord may determine the amount of such additional consumption and potential consumption by any verifiable method, including installation of a separate meter in the Premises installed, maintained,
and read by Landlord, at Tenant's expense. Tenant shall not install any electrical equipment requiring special wiring or requiring voltage in excess of 110 volts unless approved in advance by
Landlord, which approval shall not be unreasonably
withheld. Tenant shall not install any electrical equipment requiring voltage in excess of Building capacity unless approved in advance by Landlord, which approval may be withheld in Landlord's sole
discretion. The use of electricity in the Premises shall not exceed the capacity of existing feeders and risers to or wiring in the Premises. Any risers or wiring required to meet Tenant's excess
electrical requirements shall, upon Tenant's written request, be installed by Landlord, at Tenant's cost, if, in Landlord's judgment, the same are necessary and shall not cause permanent damage to the
Building or the Premises, cause or create a dangerous or hazardous condition, entail excessive or unreasonable alterations, repairs, or expenses, or interfere with or disturb other tenants of the
Building. If Tenant uses machines or equipment in the Premises which affect the temperature otherwise maintained by the air conditioning system or otherwise overload any utility, Landlord may install
supplemental air conditioning units or other supplemental equipment in the Premises, and the cost thereof, including the cost of installation, operation, use, and maintenance, shall be paid by Tenant
to Landlord within 30 days after Landlord has delivered to Tenant an invoice therefor. 

        (c)    Restoration of Services; Abatement.    Landlord shall use reasonable efforts to restore
any service required of it that becomes unavailable; however, such unavailability shall not, provided such services are restored in five (5) business days following Landlord's receipt of
written notice regarding such unavailability, render Landlord liable for any damages caused thereby, be a 

5

 

constructive
eviction of Tenant, constitute a breach of any implied warranty, or, except as provided in the next sentence, entitle Tenant to any abatement of Tenant's obligations hereunder. If,
however, Tenant is prevented from using the Premises because of the unavailability of any such service for a period of five (5) consecutive business days following Landlord's receipt from
Tenant of a written notice regarding such unavailability, the restoration of which is within Landlord's reasonable control, and such unavailability was not caused by a Tenant Party or a governmental
directive, then Tenant shall, as its exclusive remedy be entitled to a reasonable abatement of Rent for each consecutive day (after such 5-day period) that Tenant is so prevented from
using the Premises. 

        8.    Improvements; Alterations; Repairs; Maintenance.    

        (a)    Improvements; Alterations.    Improvements to the Premises shall be installed at
Tenant's expense only in accordance with plans and specifications which have been previously submitted to and approved in writing by Landlord, which approval shall be governed by the provisions set
forth in this Section 8(a). No alterations or physical additions in or to the Premises may be made without Landlord's prior written consent, which shall not be unreasonably withheld or delayed;
however, Landlord may withhold its consent to any alteration or addition that would adversely affect (in the reasonable discretion of Landlord) the (1) Building's Structure or the Building's
Systems (including the Building's restrooms or mechanical rooms), (2) exterior appearance of the Building, (3) appearance of the Building's common areas or elevator lobby areas, or
(4) provision of services to other occupants of the Building. Tenant shall not paint or install lighting or decorations, signs, window or door lettering, or advertising media of any type
visible from the exterior of the Premises without the prior written consent of Landlord, which consent may be withheld in Landlord's sole and absolute discretion. All alterations, additions, and
improvement shall be constructed, maintained, and used by Tenant, at its risk and expense, in accordance with all Laws; Landlord's consent to or approval of any alterations, additions or
improvements (or the plans therefor) shall not constitute a representation or warranty by Landlord, nor Landlord's acceptance, that the same comply with sound architectural and/or engineering
practices or with all applicable Laws, and Tenant shall be solely responsible for ensuring all such compliance. 

        (b)    Repairs; Maintenance.    Tenant shall maintain the Premises in a clean, safe, and
operable condition, and shall not permit or allow to remain any waste or damage to any portion of the Premises. Additionally, Tenant, at its sole expense, shall repair, replace and maintain in good
condition and in accordance with all Laws and the equipment manufacturer's suggested service programs, all portions of the Premises, Tenant's Off-Premises Equipment and all areas,
improvements and systems exclusively serving the Premises. Tenant shall repair or replace, subject to Landlord's direction and supervision, any damage to the Building caused by a Tenant Party. If
Tenant fails to make such repairs or replacements within 15 days after the occurrence of such damage, then Landlord may make the same at Tenant's cost. If any such damage occurs outside of the
Premises, then Landlord may elect to repair such damage at Tenant's expense, rather than having Tenant repair such damage. The cost of all maintenance, repair or replacement work performed by Landlord
under this Section 8 shall be paid by Tenant to Landlord within 30 days after Landlord has invoiced Tenant therefor. 

        (c)    Performance of Work.    All work described in this Section 8 shall be performed
only by Landlord or by contractors and subcontractors approved in writing by Landlord. Tenant shall cause all contractors and subcontractors to procure and maintain insurance coverage naming Landlord,
Landlord's property management company and Landlord's asset management company as additional insureds against such risks, in such amounts, and with such companies as Landlord may reasonably require.
Tenant shall provide Landlord with the identities, mailing addresses and telephone numbers 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 

6

 

pursuant
to applicable Laws. All such work shall be performed in accordance with all Laws and in a good and workmanlike manner so as not to damage the Building (including the Premises, the Building's
Structure and the Building's Systems). All such work which may affect the Building's Structure or the Building's Systems must be approved by the Building's engineer of record, at Tenant's expense and,
at Landlord's election, must be performed by Landlord's usual contractor for such work. All work affecting the roof of the Building must be performed by Landlord's roofing contractor and no such work
will be permitted if it would void or reduce the warranty on the roof. 

        (d)    Mechanic's Liens.    All work performed, materials furnished, or obligations incurred
by or at the request of a Tenant Party shall be deemed authorized and ordered by Tenant only, and Tenant agrees to promptly pay all sums of money in respect of any labor, services, materials, supplies
or equipment furnished or alleged to have been furnished to Tenant or anyone holding the Premises or any part thereof, through, or under Tenant in, at or about the Premises, or furnished to Tenant's
agents, employees, contractors or subcontractors, which may be secured by any mechanic's, material supplier's or other type of lien against any part of the Project or Landlord's interest therein (a
"Lien"). Tenant shall notify Landlord of the filing of any Lien within three days after receiving notice of such filing. If Tenant fails, within
20 days after the date of the filing of the Lien, to discharge such Lien or pursuant to Minn. Stat. § 514.10 deposit into court a sum determined by the court, Landlord may,
but shall not be required or expected to, remove such Lien in such manner as Landlord may, in its sole discretion, determine, and the full cost thereof, together with all Landlord's fees and costs,
including attorney fees, shall be due and payable by Tenant to Landlord immediately upon Tenant's receipt of Landlord's notice therefor. Tenant acknowledges that Landlord may post notice on the
Premises of non-responsibility for such Liens and, in such event, Tenant shall so advise all contractors, materialmen, suppliers and other persons performing work or providing services
and/or supplies to the Premises on behalf of Tenant. Landlord and Tenant acknowledge and agree that their relationship is and shall be solely that of "landlord-tenant" (thereby excluding a
relationship of "owner-contractor," "owner-agent" or other similar relationships). Accordingly, all materialmen, contractors, artisans, mechanics, laborers and any other persons now or hereafter
contracting with Tenant, any contractor or subcontractor of Tenant or any other Tenant Party for the furnishing of any labor, services, materials, supplies or equipment with respect to any portion of
the Premises, at any time from the date hereof until the end of the Term, are hereby charged with notice that they look exclusively to Tenant to obtain payment for same. Nothing herein shall be deemed
a consent by Landlord to any liens being placed upon the Premises, the Project or Landlord's interest therein due to any work performed by or for Tenant or deemed to give any contractor or
subcontractor or materialman any right or interest in any funds held by Landlord to reimburse Tenant for any portion of the cost of such work. Tenant shall defend, indemnify and hold harmless Landlord
and its agents and representatives from and against all claims, demands, causes of action, suits, judgments, damages and expenses (including attorneys' fees) in any way arising from or relating to the
failure by any Tenant Party to pay for any work performed, materials furnished, or obligations incurred by or at the request of a Tenant Party. This indemnity provision shall survive termination or
expiration of this Lease. 

        9.    Use.    Tenant shall continuously occupy and use the Premises
only for the Permitted Use and shall comply with all Laws relating to the use, condition, access to, and occupancy of the Premises and will not commit waste, overload the Building's Structure or the
Building's Systems or subject the Premises to use that would damage the Premises. The population density within the Premises as a whole shall at no time exceed one person for each 300 rentable square
feet in the Premises. Tenant shall not conduct second or third shift operations within the Premises, however, Tenant may use the Premises after normal business hours, so long as Tenant is not
generally conducting business from the Premises after normal business hours. Notwithstanding anything in this Lease to the contrary, as 

7

 

between
Landlord and Tenant, (a) Tenant shall bear the risk of complying with Title III of the Americans With Disabilities Act of 1990, any state laws governing handicapped access or
architectural barriers, and all rules, regulations, and guidelines promulgated under such laws, as amended from time to time (the "Disabilities Acts")
in the Premises, and (b) Landlord shall bear the risk of complying with the Disabilities Acts in the common areas of the Building, other than compliance that is necessitated by the use of the
Premises for other than the Permitted Use or as a result of any alterations or additions, including any initial tenant improvement Work, made by or on behalf of a Tenant Party (which risk and
responsibility shall be borne by Tenant). The Premises shall not be used for any use which is disreputable, creates extraordinary fire hazards, or results in an increased rate of insurance on the
Building or its contents, or for the storage of any Hazardous Materials (other than typical office supplies [e.g., photocopier toner] and then only in compliance with all
Laws). Tenant shall not use any substantial portion of the Premises for a "call center," any other telemarketing use, or any credit processing use. If, because of a Tenant Party's acts or because
Tenant vacates the Premises, the rate of insurance on the Building or its contents increases, then such acts shall be an Event of Default, Tenant shall pay to Landlord the amount of such increase on
demand, and acceptance of such payment shall not waive any of Landlord's other rights. Tenant shall conduct its business and control each other Tenant Party so as not to create any nuisance or
unreasonably interfere with other tenants or Landlord in its management of the Building. 

        10.    Assignment and Subletting.    

        (a)    Transfers.    Except as provided in Section 10(h), Tenant shall not, without the
prior written consent of Landlord, (1) assign, transfer, or encumber this Lease or any estate or interest herein, whether directly or by operation of law, (2) permit any other entity to
become Tenant hereunder by merger, consolidation, or other reorganization, (3) if Tenant is an entity other than a corporation whose stock is publicly traded, permit the transfer of an
ownership interest in Tenant so as to result in a change in the current control of Tenant, (4) sublet any portion of the Premises, (5) grant any license, concession, or other right of
occupancy of any portion of the Premises, or (6) permit the use of the Premises by any parties other than Tenant (any of the events listed in Section 10(a)(1) through 10(a)(6) being a  "Transfer"). 

        (b)    Consent Standards.    Landlord shall not unreasonably withhold its consent to any
assignment or subletting of the Premises, provided that the proposed transferee (1) is creditworthy, (2) has a good reputation in the business community, (3) will use the Premises
for the Permitted Use (thus, excluding, without limitation, uses for credit processing and telemarketing) and will not use the Premises in any
manner that would conflict with any exclusive use agreement or other similar agreement entered into by Landlord with any other tenant of the Building or Complex, (4) will not use the Premises,
Building or Project in a manner that would materially increase the pedestrian or vehicular traffic to the Premises, Building or Project, (5) is not a governmental entity, or subdivision or
agency thereof, (6) is not another occupant of the Building or Complex, and (7) is not a person or entity with whom Landlord is then, or has been within the six-month period
prior to the time Tenant seeks to enter into such assignment or subletting, negotiating to lease space in the Building or Complex or any Affiliate of any such person or entity; otherwise, Landlord may
withhold its consent in its sole discretion. Additionally, Landlord may withhold its consent in its sole discretion to any proposed Transfer if any Event of Default by Tenant then exists. 

        (c)    Request for Consent.    If Tenant requests Landlord's consent to a Transfer, then, at
least 15 business days prior to the effective date of the proposed Transfer, Tenant shall provide Landlord with a written description of all terms and conditions of the proposed Transfer, copies of
the proposed documentation, and the following information about the proposed transferee: name and address; reasonably satisfactory information about its business and business history; its proposed use
of the Premises, banking, financial, and other credit information; and general 

8

 

references
sufficient to enable Landlord to determine the proposed transferee's creditworthiness and character. Concurrently with Tenant's notice of any request for consent to a Transfer, Tenant shall
pay to Landlord a fee of $1,000 to defray Landlord's expenses in reviewing such request, and Tenant shall also reimburse Landlord immediately upon request for its reasonable attorneys' fees incurred
in connection with considering any request for consent to a Transfer. 

        (d)    Conditions to Consent.    If Landlord consents to a proposed Transfer, then the
proposed transferee shall deliver to Landlord a written agreement whereby it expressly assumes Tenant's obligations hereunder, however, any transferee of less than all of the space in the Premises
shall be liable only for obligations under this Lease that are properly allocable to the space subject to the Transfer for the period of the Transfer. No Transfer shall release Tenant from its
obligations under this Lease, but rather Tenant and its transferee shall be jointly and severally liable therefor. Landlord's consent to any Transfer shall not waive Landlord's rights as to any
subsequent Transfers. If an Event of Default occurs while the Premises or any part thereof are subject to a Transfer, then Landlord, in addition to its other remedies, may collect directly from such
transferee all rents becoming due to Tenant and apply such rents against Rent. Tenant authorizes its transferees to make payments of rent directly to Landlord upon receipt of notice from Landlord to
do so following the occurrence of an Event of Default hereunder. Tenant shall pay for the cost of any demising walls or other improvements necessitated by a proposed subletting or assignment. 

        (e)    Attornment by Subtenants.    Each sublease by Tenant hereunder shall be subject and
subordinate to this Lease and to the matters to which this Lease is or shall be subordinate, and each subtenant by entering into a sublease is deemed to have agreed that in the event of termination,
re-entry or dispossession by Landlord under this Lease, Landlord may, at its option, take over all of the right, title and interest of Tenant, as sublandlord, under such sublease, and such
subtenant shall, at Landlord's option, attorn to Landlord pursuant to the then executory provisions of such sublease, except that
Landlord shall not be (1) liable for any previous act or omission of Tenant under such sublease, (2) subject to any counterclaim, offset or defense that such subtenant might have against
Tenant, (3) bound by any previous modification of such sublease not approved by Landlord in writing or by any rent or additional rent or advance rent which such subtenant might have paid for
more than the current month to Tenant, and all such rent shall remain due and owing, notwithstanding such advance payment, (4) bound by any security or advance rental deposit made by such
subtenant which is not delivered or paid over to Landlord and with respect to which such subtenant shall look solely to Tenant for refund or reimbursement, or (5) obligated to perform any work
in the subleased space or to prepare it for occupancy, and in connection with such attornment, the subtenant shall execute and deliver to Landlord any instruments Landlord may reasonably request to
evidence and confirm such attornment. Each subtenant or licensee of Tenant shall be deemed, automatically upon and as a condition of its occupying or using the Premises or any part thereof, to have
agreed to be bound by the terms and conditions set forth in this Section 10(e). The provisions of this Section 10(e) shall be self-operative, and no further instrument shall
be required to give effect to this provision. 

        (f)    Cancellation.    Landlord may, within 30 days after submission of Tenant's
written request for Landlord's consent to an assignment or subletting, cancel this Lease as to the portion of the Premises proposed to be sublet or assigned as of the date the proposed Transfer is to
be effective. If Landlord cancels this Lease as to any portion of the Premises, then this Lease shall cease for such portion of the Premises and Tenant shall pay to Landlord all Rent accrued through
the cancellation date relating to the portion of the Premises covered by the proposed Transfer. Thereafter, Landlord may lease such portion of the Premises to the prospective transferee (or to any
other person) without liability to Tenant. 

        (g)    Additional Compensation.    Tenant shall pay to Landlord, immediately upon receipt
thereof, the excess of (1) all compensation received by Tenant for a Transfer less the actual 

9

 

out-of-pocket
costs reasonably incurred by Tenant with unaffiliated third parties (i.e., brokerage commissions and tenant finish work) in connection with such Transfer (such
costs shall be amortized on a straight-line basis over the term of the Transfer in question) over (2) the Rent allocable to the portion of the Premises covered thereby. 

        (h)    Permitted Transfers.    Notwithstanding Section 10(a), Tenant may Transfer all
or part of its interest in this Lease or all or part of the Premises (a "Permitted Transfer") to the
following types of entities (a "Permitted Transferee") without the written consent of Landlord: 

        (1)   an
Affiliate of Tenant; 

        (2)   any
corporation, limited partnership, limited liability partnership, limited liability company or other business entity in which or with which Tenant, or its corporate
successors or assigns, is merged or
consolidated, in accordance with applicable statutory provisions governing merger and consolidation of business entities, so long as (A) Tenant's obligations hereunder are assumed by the entity
surviving such merger or created by such consolidation; and (B) the Tangible Net Worth of the surviving or created entity is not less than the Tangible Net Worth of Tenant as of the date
hereof; or 

        (3)   any
corporation, limited partnership, limited liability partnership, limited liability company or other business entity acquiring all or substantially all of Tenant's
assets if such entity's Tangible Net Worth after such acquisition is not less than the Tangible Net Worth of Tenant as of the date hereof. 

Tenant
shall promptly notify Landlord of any such Permitted Transfer. Tenant shall remain liable for the performance of all of the obligations of Tenant hereunder, or if Tenant no longer exists
because of a merger, consolidation, or acquisition, the surviving or acquiring entity shall expressly assume in writing the obligations of Tenant hereunder. Additionally, the Permitted Transferee
shall comply with all of the terms and conditions of this Lease, including the Permitted Use, and the use of the Premises by the Permitted Transferee may not violate any other agreements affecting the
Premises, the Building or the Complex, Landlord or other tenants of the Building or the Complex. No later than 30 days after the effective date of any Permitted Transfer, Tenant agrees to
furnish Landlord with (A) copies of the instrument effecting any of the foregoing Transfers, (B) documentation establishing Tenant's satisfaction of the requirements set forth above
applicable to any such Transfer, and (C) evidence of insurance as required under this Lease with respect to the Permitted Transferee. The occurrence of a Permitted Transfer shall not waive
Landlord's rights as to any subsequent Transfers. "Tangible Net Worth" means the excess of total assets
over total liabilities, in each case as determined in accordance with generally accepted accounting principles consistently applied
("GAAP"), excluding, however, from the determination of total assets all assets which would be
classified as intangible assets under GAAP including goodwill, licenses, patents, trademarks, trade names, copyrights, and franchises. Any subsequent Transfer by a Permitted Transferee shall be
subject to the terms of this Section 10. 

        (i)    Assignment of Subrents.    Tenant hereby irrevocably assigns to Landlord all rents due
or to become due from any assignee or transferee of or sublessee under this Lease or any tenant or occupant of the Premises or any part thereof, and authorizes and empowers Landlord in the name of
Tenant or otherwise, to collect and receive the same, provided that, so long as Tenant is not in default under this Lease beyond the expiration of the applicable cure periods, if any, provided herein,
Tenant shall have the right to collect and receive such rents for its own uses and purposes. Upon any default by Tenant under this Lease, Landlord shall have absolute title to such rents and the
absolute right to collect and receive the same. Landlord shall apply to the Rent due under this Lease the net amount (after deducting all costs and expenses of collection, including, without
limitation, attorneys' fees and expenses) of any rents so collected and received by it. 

10

 

        11.    Insurance; Waivers; Subrogation;
Indemnity.    

        (a)    Tenant's Insurance.    Effective as of the earlier of (1) the date Tenant enters
or occupies the Premises, or (2) the Commencement Date, and continuing throughout the Term, Tenant shall maintain the following insurance policies: (A) commercial general liability
insurance in amounts of $2,000,000 per occurrence or, following the expiration of the initial Term, such other amounts as Landlord may from time to time reasonably require (and, if the use and
occupancy of the Premises include any activity or matter that is or may be excluded from coverage under a commercial general liability policy [e.g., the sale, service or consumption of
alcoholic beverages], Tenant shall obtain such endorsements to the commercial general liability policy or otherwise obtain insurance to insure all liability arising from such activity or
matter [including liquor liability, if applicable] in such amounts as Landlord may reasonably require), insuring Tenant, Landlord, Landlord's property management company and
Landlord's asset management company against all liability for injury to or death of a person or persons or damage to property arising from the use and occupancy of the Premises and (without implying
any consent by Landlord to the installation thereof) the installation, operation, maintenance, repair or removal of Tenant's Off-Premises Equipment, (B) insurance covering the full
value of all alterations and improvements and betterments in the Premises, naming Landlord and Landlord's Mortgagee as additional loss payees as their interests may appear, (C) insurance
covering the full value of all furniture, trade fixtures and personal property (including property of Tenant or others) in the Premises or otherwise placed in the Project by or on behalf of a Tenant
Party (including Tenant's Off-Premises Equipment), (D) contractual liability insurance sufficient to cover Tenant's indemnity obligations hereunder (but only if such contractual
liability insurance is not already included in Tenant's commercial general liability insurance policy), (E) worker's compensation insurance, and (F) business interruption insurance.
Tenant's insurance shall provide primary coverage to Landlord when any policy issued to Landlord provides duplicate or similar coverage, and in such circumstance Landlord's policy will be excess over
Tenant's policy. Tenant shall furnish to Landlord certificates of such insurance and such other evidence satisfactory to Landlord of the maintenance of all insurance coverages required hereunder at
least ten days prior to the earlier of the Commencement Date or the date Tenant enters or occupies the Premises, and at least 15 days prior to each renewal of said insurance, and Tenant shall
obtain a written obligation on the part of each insurance company to notify Landlord at least 30 days before cancellation or a material change of any such insurance policies. All such insurance
policies shall be in form, and issued by companies with an A.M. Best rating of A or better, reasonably satisfactory to Landlord. If Tenant fails to comply with the foregoing insurance
requirements or to deliver to Landlord the certificates or evidence of coverage required herein, Landlord, in addition to any other remedy available pursuant to this Lease or otherwise, may, but shall
not be obligated to, obtain such insurance and Tenant shall pay to Landlord on demand the premium costs thereof, plus an administrative fee of 15% of such cost. 

        (b)    Landlord's Insurance.    Throughout the Term of this Lease, Landlord shall maintain, as
a minimum, the following insurance policies: (1) property insurance for the Building's replacement value (excluding property required to be insured by Tenant), less a commercially-reasonable
deductible if Landlord so chooses, and (2) commercial general liability insurance in an amount of not less than $3,000,000. Landlord may, but is not obligated to, maintain such other insurance
and additional coverages as it may deem necessary. The cost of all insurance carried by Landlord with respect to the Project shall be included in Operating Costs. The foregoing insurance policies and
any other insurance carried by Landlord shall be for the sole benefit of Landlord and under Landlord's sole control, and Tenant shall have no right or claim to any proceeds thereof or any other rights
thereunder. 

        (c)    No Subrogation.    Landlord and Tenant each waives any claim it might have against the
other for any damage to or theft, destruction, loss, or loss of use of any property, to the extent the 

11

 

same
is insured against under any insurance policy of the types described in this Section 11 that covers the Project, the Premises, Landlord's or Tenant's fixtures, personal property, leasehold
improvements, or business, or is required to be insured against under the terms hereof, regardless of whether the negligence of the other party caused such Loss (defined
below). Additionally, Tenant waives any claim it may have against Landlord for any Loss to the extent such Loss is caused by a terrorist act. Each party shall cause its
insurance carrier to endorse all applicable policies waiving the carrier's rights of recovery under subrogation or otherwise against the other party. 

        (d)    Indemnity.    Subject to Section 11(c), Tenant shall defend, indemnify, and hold
harmless Landlord and its representatives and agents from and against all claims, demands, liabilities, causes of action, suits, judgments, damages, and expenses (including reasonable attorneys' fees)
arising from any injury to or death of any person or the damage to or theft, destruction, loss, or loss of use of any property or inconvenience (a
"Loss"), occurring on the Premises or arising out of the installation, operation, maintenance, repair or removal of any of Tenant's
Off-Premises Equipment, except to the extent that such Loss is caused by the negligence of Landlord. Subject to Section 11(c),
Landlord shall defend, indemnify, and hold harmless Tenant and its agents from and against all claims, demands, liabilities, causes of action, suits, judgments, and expenses (including reasonable
attorneys' fees) for any Loss arising from any occurrence in the Building's common areas, except to the extent that such Loss is caused by the negligence of
Tenant. The indemnities set forth in this Lease shall survive termination or expiration of this Lease for a period of six (6) months after its termination, and shall not
terminate or be waived, diminished or affected in any manner by any abatement or apportionment of Rent under any provision of this Lease. If any proceeding is filed for which indemnity is required
hereunder, the indemnifying party agrees, upon request therefor, to defend the indemnified party in such proceeding at its sole cost utilizing counsel satisfactory to the indemnified party. 

        12.    Subordination; Attornment; Notice to Landlord's
Mortgagee.    

        (a)    Subordination.    This Lease shall be subordinate to any deed of trust, mortgage, or
other security instrument (each, a "Mortgage"), or any ground lease, master lease, or primary lease
(each, a "Primary Lease"), that now or hereafter covers all or any part of the Premises (the mortgagee
under any such Mortgage, beneficiary under any such deed of trust, or the lessor under any such Primary Lease is referred to herein as a "Landlord's
Mortgagee"). Any Landlord's Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its Mortgage, Primary Lease, or other
interest in the Premises by so notifying Tenant in writing. The provisions of this Section shall be self-operative and no further instrument of subordination shall be required; however, in
confirmation of such subordination, Tenant shall execute and return to Landlord (or such other party designated by Landlord) within ten days after written request therefor such documentation, in
recordable form if required, as a Landlord's Mortgagee may reasonably request to evidence the subordination of this Lease to such Landlord's Mortgagee's Mortgage or Primary Lease (including a
subordination, non-disturbance and attornment agreement) or, if the Landlord's
Mortgagee so elects, the subordination of such Landlord's Mortgagee's Mortgage or Primary Lease to this Lease. 

        (b)    Attornment.    Tenant shall attorn to any party succeeding to Landlord's interest in
the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party's request, and shall execute such agreements confirming
such attornment as such party may reasonably request. 

12

  

        (c)    Notice to Landlord's Mortgagee.    Tenant shall not seek to enforce any remedy it may
have for any default on the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail, to any Landlord's Mortgagee
whose address has been given to Tenant, and affording such Landlord's Mortgagee a reasonable opportunity to perform Landlord's obligations hereunder. 

        (d)    Landlord's Mortgagee's Protection Provisions.    If Landlord's Mortgagee shall succeed
to the interest of Landlord under this Lease, Landlord's Mortgagee shall not be: (1) liable for any act or omission of any prior lessor (including Landlord); (2) bound by any rent or
additional rent or advance rent which Tenant might have paid for more than the current month to any prior lessor (including Landlord), and all such rent shall remain due and owing, notwithstanding
such advance payment; (3) bound by any security or advance rental deposit made by Tenant which is not delivered or paid over to Landlord's Mortgagee and with respect to which Tenant shall look
solely to Landlord for refund or reimbursement; (4) bound by any termination, amendment or modification of this Lease made without Landlord's Mortgagee's consent and written approval, except
for those terminations, amendments and modifications permitted to be made by Landlord without Landlord's Mortgagee's consent pursuant to the terms of the loan documents between Landlord and Landlord's
Mortgagee; (5) subject to the defenses which Tenant might have against any prior lessor (including Landlord); and (6) subject to the offsets which Tenant might have against any prior
lessor (including Landlord) except for those offset rights which (A) are expressly provided in this Lease, (B) relate to periods of time following the acquisition of the Building by
Landlord's Mortgagee, and (C) Tenant has provided written notice to Landlord's Mortgagee and provided Landlord's Mortgagee a reasonable opportunity to cure the event giving rise to such offset
event. Landlord's Mortgagee shall have no liability or responsibility under or pursuant to the terms of this Lease or otherwise after it ceases to own an interest in the Project. Nothing in this Lease
shall be construed to require Landlord's Mortgagee to see to the application of the proceeds of any loan, and Tenant's agreements set forth herein shall not be impaired on account of any modification
of the documents evidencing and securing any loan. 

        13.    Rules and Regulations.    Tenant shall comply with the rules
and regulations of the Project which are attached hereto as Exhibit C. Landlord may, from time to time, change such rules and regulations for the
safety, care, or cleanliness of the Project and related facilities, provided that such changes are applicable to all tenants of the Project, will not unreasonably interfere with Tenant's use of the
Premises and are enforced by Landlord in a non- discriminatory manner. Tenant shall be responsible for the compliance with such rules and regulations by each Tenant Party. 

        14.    Condemnation.    

        (a)    Total Taking.    If the entire Building or Premises are taken by right of eminent
domain or conveyed in lieu thereof (a "Taking"), this Lease shall terminate as of the date of the Taking. 

        (b)    Partial Taking—Tenant's Rights.    If any part of the Building becomes
subject to a Taking and such Taking will prevent Tenant from conducting on a permanent basis its business in the Premises in a manner reasonably comparable to that conducted immediately before such
Taking, then Tenant may terminate this Lease as of the date of such Taking by giving written notice to Landlord within 30 days after the Taking, and Basic Rent and Additional Rent shall be
apportioned as of the date of such Taking. If Tenant does not terminate this Lease, then Rent shall be abated on a reasonable basis as to that portion of the Premises rendered untenantable by the
Taking. 

        (c)    Partial Taking—Landlord's Rights.    If any material portion, but less than
all, of the Building becomes subject to a Taking, or if Landlord is required to pay any of the proceeds arising from a Taking to a Landlord's Mortgagee, then Landlord may terminate this Lease by
delivering written notice thereof to Tenant within 30 days after such Taking, and Basic Rent and Additional 

13

 

Rent
shall be apportioned as of the date of such Taking. If Landlord does not so terminate this Lease, then this Lease will continue, but if any portion of the Premises has been taken, Rent shall
abate as provided in the last sentence of Section 14(b). 

        (d)    Temporary Taking.    If all or any portion of the Premises becomes subject to a Taking
for a limited period of time, this Lease shall remain in full force and effect and Tenant shall continue to perform all of the terms, conditions and covenants of this Lease, including the payment of
Basic Rent and all other amounts required hereunder. Tenant shall be entitled to receive the entire award made in connection with any other temporary condemnation or other taking attributable to any
period within the Term. Landlord shall be entitled to the entire award for any such temporary condemnation or other taking which relates to a period after the expiration of the Term or which is
allocable to the cost of restoration of the Premises. If any such temporary condemnation or other taking terminates prior to the expiration of the Term, Tenant shall restore the Premises as nearly as
possible to the condition prior to the condemnation or other taking, at Tenant's sole cost and expense; provided that, Tenant shall receive the portion of the award attributable to such restoration. 

        (e)    Award.    If any Taking occurs, then Landlord shall receive the entire award or other
compensation for the Land, the Building, and other improvements taken; however, Tenant may separately pursue a claim (to the extent it will not reduce Landlord's award) against the condemnor for the
value of Tenant's personal property which Tenant is entitled to remove under this Lease, moving costs, loss of business, and other claims it may have. 

        15.    Fire or Other Casualty.    

        (a)    Repair Estimate.    If the Premises or the Building are damaged by fire or other
casualty (a "Casualty"), Landlord shall, within 60 days after such Casualty, deliver to Tenant a good faith estimate (the
"Damage Notice") of the time needed to repair the damage caused by such Casualty. 

        (b)    Tenant's Rights.    If a material portion of the Premises is damaged by Casualty such
that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused
thereby cannot be repaired within 270 days after the date of the Casualty (the "Repair Period"), then Tenant may terminate this Lease by
delivering written notice to Landlord of its election to terminate within 30 days after the Damage Notice has been delivered to Tenant. If Landlord undertakes to repair the Premises and does
not do so within the Repair Period, and provided that such delay is not caused by Tenant, then Tenant shall have the option to terminate this Lease on the day following the Repair Period if the
Premises are not, on said date, in a condition that is substantially similar to the condition the Premises were in prior to the Casualty. 

        (c)    Landlord's Rights.    If a Casualty damages the Premises or a material portion of the
Building and (1) Landlord estimates that the damage to the Premises cannot be repaired within the Repair Period, (2) the damage to the Premises exceeds 50% of the replacement cost
thereof (excluding foundations and footings), as estimated by Landlord, and such damage occurs during the last two years of the Term, (3) regardless of the extent of damage to the Premises, the
damage is not fully covered by Landlord's insurance policies or Landlord makes a good faith determination that restoring the Building would be uneconomical, or (4) Landlord is required to pay
any insurance proceeds arising out of the Casualty to a Landlord's Mortgagee, then Landlord may terminate this Lease by giving written notice of its election to terminate within 30 days after
the Damage Notice has been delivered to Tenant. 

        (d)    Repair Obligation.    If neither party elects to terminate this Lease following a
Casualty, then Landlord shall, within a reasonable time after such Casualty, begin to repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same
condition 

14

 

as
they existed immediately before such Casualty; however, Landlord shall not be required to repair or replace any alterations or betterments within the Premises that were installed by Tenant and were
not a part of Tenant's Rent (which, if Tenant desires to rebuild such alterations or betterments, shall be promptly and with due diligence repaired and restored by Tenant at Tenant's sole cost and
expense) or any furniture, equipment, trade fixtures or personal property of Tenant or others in the Premises or the Building, and Landlord's obligation to repair or restore the Premises shall be
limited to the extent of the insurance proceeds actually received by Landlord for the Casualty in question. If this Lease is terminated under the provisions of this Section 15, Landlord shall
be entitled to the full proceeds of the insurance policies providing coverage for all alterations, improvements and betterments in the Premises (and, if Tenant has failed to maintain insurance on such
items as required by this Lease, Tenant shall pay Landlord an amount equal to the proceeds Landlord would have received had Tenant maintained insurance on such items as required by this Lease). 

        (e)    Abatement of Rent.    If the Premises are damaged by Casualty, Rent for the portion of
the Premises rendered untenantable by the damage shall be abated on a reasonable basis from the date of damage until the completion of Landlord's repairs (or until the date of termination of this
Lease by Landlord or Tenant as provided above, as the case may be), unless a Tenant Party caused such damage, in which case, Tenant shall continue to pay Rent without abatement. 

        16.    Personal Property Taxes.    Tenant shall be liable for all
taxes levied or assessed against personal property, furniture, or fixtures placed by Tenant in the Premises or in or on the Building or Project. If any taxes for which Tenant is liable are levied or
assessed against Landlord or Landlord's property and Landlord elects to pay the same, or if the assessed value of Landlord's property is increased by inclusion of such personal property, furniture or
fixtures and Landlord elects to pay the taxes based on such increase, then Tenant shall pay to Landlord, within 30 days following written request therefor, the part of such taxes for which
Tenant is primarily liable hereunder; however, Landlord shall not pay such amount if Tenant notifies Landlord that it will contest the validity or amount of such taxes before Landlord makes such
payment, and thereafter diligently proceeds with such contest in accordance with Law and if the non-payment thereof does not pose a threat of loss or seizure of the Project or interest of
Landlord therein or impose any fee or penalty against Landlord. 

        17.    Events of Default.    Each of the following occurrences shall
be an "Event of Default": 

        (a)    Payment Default.    Tenant's failure to pay Rent within five days after Landlord has
delivered written notice to Tenant that the same is due; however, an Event of Default shall occur hereunder without any obligation of Landlord to give any notice if Tenant fails to pay Rent when due
and, during the 12 month interval preceding such failure, Landlord has given Tenant written notice of failure to pay Rent on one or more occasions; 

        (b)    Abandonment.    Tenant (1) abandons or vacates the Premises or any substantial
portion thereof or (2) fails to continuously operate its business in the Premises; 

        (c)    Estoppel.    Tenant fails to provide any estoppel certificate after Landlord's written
request therefor pursuant to Section 25(e) and such failure shall continue for five days after Landlord's second written notice thereof to Tenant; 

        (d)    Insurance.    Tenant fails to procure, maintain and deliver to Landlord evidence of the
insurance policies and coverages as required under Section 11(a); 

        (e)    Mechanic's Liens.    Tenant fails to pay and release of record, or diligently contest
and bond around, any mechanic's lien filed against the Premises or the Project for any work performed, materials furnished, or obligation incurred by or at the request of Tenant, within the time and
in the manner required by Section 8(d); 

15

 

        (f)    Other Defaults.    Tenant's failure to perform, comply with, or observe any other
agreement or obligation of Tenant under this Lease and the continuance of such failure for a period of more than 30 days after Landlord has delivered to Tenant written notice thereof; and 

        (g)    Insolvency.    The filing of a petition by or against Tenant (the term "Tenant" shall
include, for the purpose of this Section 17(g), any guarantor of Tenant's obligations hereunder) (1) in any bankruptcy or other insolvency proceeding; (2) seeking any relief under
any state or federal debtor relief law; (3) for the appointment of a liquidator or receiver for all or substantially all of Tenant's property or for Tenant's interest in this Lease;
(4) for the reorganization or modification of Tenant's capital structure; or (5) in any assignment for the benefit of creditors proceeding; however, if such a petition is filed against
Tenant, then such filing shall not be an Event of Default unless Tenant fails to have the proceedings initiated by such petition dismissed within 90 days after the filing thereof. 

        18.    Remedies.    Upon any Event of Default, Landlord may, at its
election and in addition to all other remedies available at law or in equity, terminate this Lease through the delivery of written notice to that effect to Tenant or terminate Tenant's right to
possession only, without terminating this Lease. In the event Landlord elects to terminate this Lease pursuant to this Section 18, the Term shall expire and terminate as of the later of the
fifth day after Landlord delivers such notice of termination or the termination date stated in the notice with the same force and effect as though such termination date were the date originally set
forth in this Lease as the expiration date of the Term. 

        (a)    Re-Entry Without Termination.    Upon any termination of Tenant's right to
possession of the Premises without termination of this Lease, Landlord may, at Landlord's option, enter into the Premises pursuant to applicable law, remove all signs and other evidence of Tenant's
tenancy, remove all property from the Premises and store such property in a public warehouse or elsewhere, at the cost of, and for the account of Tenant, and take and hold possession of the Premises
without: (1) being deemed guilty of trespass; (2) becoming liable for any loss or damage which may be occasioned by such entry and/or possession; (3) such entry and/or possession
terminating this Lease; and (4) releasing Tenant, in whole or in part, from any obligation, including Tenant's obligation to pay Rent for the full Term. Landlord may, but need not, relet the
Premises or any part thereof for such rent and upon such terms as Landlord, in its sole discretion, shall determine (including the right to relet the Premises as part of a larger area, the right to
change the character or the use made of the Premises, and the right to lease all or any portion of the Premises for a term extending beyond the Term of this Lease), and Landlord shall not be required
to accept any tenant offered by Tenant or to observe any instructions given by Tenant about such reletting. In any such case, Landlord may make repairs, alterations and additions in or to the
Premises, and redecorate the same to the extent Landlord deems necessary or
desirable, in its sole discretion. All rentals and other sums received by Landlord from any such reletting shall be applied as follows: first, to the payment of any indebtedness other than Rent due
hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such alterations and repairs; third, to the payment of Landlord's expenses of reletting, including, without
limitation, broker's commissions, attorneys' fees and lease inducements, such as moving or leasehold improvement allowances; fourth, to the payment of Rent; and the residue, if any, shall be held by
Landlord and applied in payment of future Rent as the same may become due and payable hereunder. If such rentals and other sums received from such reletting during any month be less than the Rent to
be paid during said month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Notwithstanding any such re-entry and
possession by Landlord, Landlord may at any time hereafter elect to terminate this Lease for such previous breach. 

        (b)    Damages in the Event of Termination.    Tenant acknowledges that the damages Landlord
would incur in connection with terminating this Lease following a default by Tenant would be 

16

 

difficult
to estimate or ascertain. In the event Landlord elects to terminate this Lease, Landlord may, in addition to other remedies available at law or in equity, recover from Tenant, as liquidated
damages, an amount equal to the sum of the following: (1) all unpaid Rent that is payable by Tenant hereunder and that accrues as of the effective date of termination; plus (2) a sum of
money equal to the entire amount of Rent that would be payable under the Lease for the lesser of the following two periods, which amount shall be immediately due and payable upon demand but which
shall be discounted to present value using a discount rate equal to the discount rate of the Federal Reserve Bank of Minneapolis as of the date of termination plus one percent (1%): (A) the one
year period commencing upon the effective date of termination, or (B) the period commencing upon the effective date of termination and ending upon the original date of the expiration of the
Term. For purposes of calculating the amount of Rent that would be payable under this Lease for the period succeeding the effective date of termination, such Rent shall be computed on the basis of the
average monthly amount of Rent accruing during the 24 month period immediately preceding the default to which such termination relates (exclusive of any months in which Tenant received "free"
or abated rent concessions); provided, however, if the default occurs prior to the expiration of the first 24 months of this Lease, then the Rent shall be computed on the basis of the average
monthly amount of Rent accruing during all months preceding the month in which said default occurred (exclusive of any months in which Tenant received "free" or abated rent concessions). Landlord's
failure to relet the Premises shall not affect Tenant's liability. The terms "enter," "entry," "re-enter," and "re-entry" are not limited to their technical meanings. 

        (c)    Miscellaneous.    Pursuit of any of the foregoing remedies shall not preclude pursuit
of any of the remedies herein provided or any other remedies available at law or in equity, nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any Rent due to
Landlord hereunder or of any damages accruing to the non-breaching party by reason of the violation of any term, provision and/or covenant herein contained. Tenant hereby expressly waives
any and all rights of redemption granted by or under any present or future laws in the event Tenant is evicted or dispossessed for any cause, or in the event Landlord obtains possession of the
Premises by reason of Tenant's violation of any term of this Lease. 

        19.    Payment by Tenant; Non-Waiver; Cumulative
Remedies.    

        (a)    Payment by Tenant.    Upon any Event of Default, Tenant shall pay to Landlord all costs
incurred by Landlord (including court costs and reasonable attorneys' fees and expenses) in (1) obtaining possession of the Premises, (2) removing and storing Tenant's or any other
occupant's property, (3) repairing, restoring, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant, (4) if Tenant is dispossessed of the
Premises and this Lease is not terminated, reletting all or any part of the Premises (including brokerage commissions, cost of tenant finish work, and other costs incidental to such reletting),
(5) performing Tenant's obligations which Tenant failed to perform, and (6) enforcing, or advising Landlord of, its rights, remedies, and recourses arising out of the default. To the
full extent permitted by law, Landlord and Tenant agree the federal and state courts of the state in which the Premises are located shall have exclusive jurisdiction over any matter relating to or
arising from this Lease and the parties' rights and obligations under this Lease. 

        (b)    No Waiver.    Landlord's acceptance of Rent following an Event of Default shall not
waive Landlord's rights regarding such Event of Default. No waiver by Landlord of any violation or breach of any of the terms contained herein shall waive Landlord's rights regarding any future
violation of such term. Landlord's acceptance of any partial payment of Rent shall not waive Landlord's rights with regard to the remaining portion of the Rent that is due, regardless of any
endorsement or other statement on any instrument delivered in payment of Rent or any writing 

17

 

delivered
in connection therewith; accordingly, Landlord's acceptance of a partial payment of Rent shall not constitute an accord and satisfaction of the full amount of the Rent that is due. 

        (c)    Cumulative Remedies.    Any and all remedies set forth in this Lease: (1) shall
be in addition to any and all other remedies Landlord may have at law or in equity, (2) shall be cumulative, and (3) may be pursued successively or concurrently as Landlord may elect.
The exercise of any remedy by Landlord shall not be deemed an election of remedies or preclude Landlord from exercising any other remedies in the future. Additionally, Tenant shall defend, indemnify
and hold harmless Landlord, Landlord's Mortgagee and their respective representatives and agents from and against all claims, demands, liabilities, causes of action, suits, judgments, damages and
expenses (including reasonable attorneys' fees) arising from Tenant's failure to perform its obligations under this Lease. 

        20.    Intentionally Omitted.    

        21.    Surrender of Premises.    No act by Landlord shall be deemed an
acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid unless it is in writing and signed by Landlord. At the expiration or termination of
this Lease, Tenant shall deliver to Landlord the Premises with all improvements located therein in good repair and condition, free of
Hazardous Materials placed on the Premises during the Term, broom-clean, reasonable wear and tear (and condemnation and Casualty damage not caused by Tenant, as to which Sections 14 and 15 shall
control) excepted, and shall deliver to Landlord all keys to the Premises. Provided that Tenant has performed all of its obligations hereunder, Tenant may remove all unattached trade fixtures,
furniture, and personal property placed in the Premises or elsewhere in the Building by Tenant (but Tenant may not remove any such item which was paid for, in whole or in part, by Landlord or any
wiring or cabling unless Landlord requires such removal). Additionally, at Landlord's option, Tenant shall remove such alterations, additions, improvements, trade fixtures, personal property,
equipment, wiring, conduits, cabling, and furniture (including Tenant's Off-Premises Equipment) as Landlord may request; however, Tenant shall not be required to remove any addition or
improvement to the Premises or the Project if Landlord has specifically agreed in writing that the improvement or addition in question need not be removed. Tenant shall repair all damage caused by
such removal. All items not so removed shall, at Landlord's option, be deemed to have been abandoned by Tenant and may be appropriated, sold, stored, destroyed, or otherwise disposed of by Landlord
without notice to Tenant and without any obligation to account for such items. The provisions of this Section 21 shall survive the end of the Term. 

        22.    Holding Over.    If Tenant fails to vacate the Premises at the
end of the Term, then Tenant shall be, at Landlord's option without Tenant's execution of any document or receipt of any notice, a tenant at sufferance and, in addition to all other damages and
remedies to which Landlord may be entitled for such holding over, (a) Tenant shall pay, in addition to the other Rent, Basic Rent equal to the greater of (1) 150% of the Rent payable
during the last month of the Term, or (2) 125% of the prevailing rental rate in the Building for similar space, and (b) Tenant shall otherwise continue to be subject to all of Tenant's
obligations under this Lease. The provisions of this Section 22 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If
Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify
and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such failure, including any claims made by any succeeding tenant founded upon such
failure to surrender, and any lost profits to Landlord resulting therefrom. 

18

 

        23.    Certain Rights Reserved by Landlord.    Provided that the
exercise of such rights does not unreasonably interfere with Tenant's occupancy of the Premises, Landlord shall have the following rights: 

        (a)    Building Operations.    To decorate and to make inspections, repairs, alterations,
additions, changes, or improvements, whether structural or otherwise, in and about the Project, or any part thereof; to enter upon the Premises (after giving Tenant reasonable notice thereof, which
may be oral notice, except in cases of real or apparent emergency, in which case no notice shall be required) and, during the continuance of any such work, to temporarily close doors, entryways,
public space, and corridors in the Building; to interrupt or temporarily suspend Building services and facilities; to change the name of the Building; and to change the arrangement and location of
entrances or passageways, doors, and doorways, corridors, elevators, stairs, restrooms, or other public parts of the Building; 

        (b)    Security.    To take such reasonable measures as Landlord deems advisable for the
security of the Building and its occupants; evacuating the Building for cause, suspected cause, or for drill purposes; temporarily denying access to the Building; and closing the Building after normal
business hours and on Sundays and holidays, subject, however, to Tenant's right to enter when the Building is closed after normal business hours under such reasonable regulations as Landlord may
prescribe from time to time; 

        (c)    Prospective Purchasers and Lenders.    To enter the Premises at all reasonable hours to
show the Premises to prospective purchasers or lenders; and 

        (d)    Prospective Tenants.    At any time during the last 12 months of the Term (or
earlier if Tenant has notified Landlord in writing that it does not desire to renew the Term) or at any time following the occurrence of an Event of Default, to enter the Premises at all reasonable
hours to show the Premises to prospective tenants. 

        24.    Substitution Space.    Landlord may, at Landlord's expense,
relocate Tenant within the Building to space which is comparable in size, utility and condition to the Premises. If Landlord relocates Tenant, Landlord shall reimburse Tenant for Tenant's reasonable
out-of-pocket expenses for moving Tenant's furniture, equipment, and supplies from the Premises to the relocation space and for reprinting Tenant's stationery of the same
quality and quantity as Tenant's stationery supply on hand immediately before Landlord's notice to Tenant of the exercise of this relocation right. Upon such relocation, the relocation space shall be
deemed to be the Premises and the terms of the Lease shall remain in full force and shall apply to the relocation space. No amendment or other instrument shall be necessary to effectuate the
relocation contemplated by this Section; however, if requested by Landlord, Tenant shall execute an appropriate amendment document within ten business days after Landlord's written request therefor.
If Tenant fails to execute such relocation amendment within such time period, or if Tenant fails to relocate within the time period stated in Landlord's relocation notice to Tenant (or, if such
relocation space is not available on the date specified in Landlord's relocation notice, as soon thereafter as the relocation space becomes available and is tendered to Tenant in the condition
required by this Lease), then, in addition to Landlord's other remedies set forth in this Lease, at law and/or in equity, Landlord may terminate this Lease by notifying Tenant in writing thereof at
least 60 days prior to the termination date contained in Landlord's termination notice. Time is of the essence with respect to Tenant's obligations under this Section. 

        25.    Miscellaneous.    

        (a)    Landlord Transfer.    Landlord may transfer any portion of the Project and any of its
rights under this Lease. If Landlord assigns its rights under this Lease, then Landlord shall thereby be released from any further obligations hereunder arising after the date of transfer, provided
that the 

19

 

assignee
assumes in writing Landlord's obligations hereunder arising from and after the transfer date. 

        (b)    Landlord's Liability.    The liability of Landlord (and its partners, shareholders or
members) to Tenant (or any person or entity claiming by, through or under Tenant) for any default by Landlord under the terms of this Lease or any matter relating to or arising out of the occupancy or
use of the Premises and/or other areas of the Building shall be limited to Tenant's actual direct, but not consequential, damages therefor and shall be recoverable only from the interest of Landlord
in the Building, and Landlord (and its partners, shareholders or members) shall not be personally liable for any deficiency. 

        (c)    Force Majeure.    Other than for Tenant's obligations under this Lease that can be
performed by the payment of money (e.g., payment of Rent and maintenance of insurance), whenever a period of time is herein prescribed for action to be taken by either party hereto, such party shall
not be liable or responsible for, and there shall be excluded from the computation of any such period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, war,
terrorist acts or activities, governmental laws, regulations, or restrictions, or any other causes of any kind whatsoever which are beyond the control of such party. 

        (d)    Brokerage.    Neither Landlord nor Tenant has dealt with any broker or agent in
connection with the negotiation or execution of this Lease, other than Colliers Towle Turley Martin Tucker and Northstar Partners, whose commissions shall be paid by Landlord pursuant to a separate
written agreement. Tenant and Landlord shall each indemnify the other against all costs, expenses, attorneys' fees, liens and other liability for commissions or other compensation claimed by any
broker or agent claiming the same by, through, or under the indemnifying party. 

        (e)    Estoppel Certificates.    From time to time, Tenant shall furnish to any party
designated by Landlord, within ten days after Landlord has made a request therefor, a certificate signed by Tenant confirming and containing such factual certifications and representations as to this
Lease as Landlord may reasonably request. Unless otherwise required by Landlord's Mortgagee or a prospective purchaser or mortgagee of the Project, the initial form of estoppel certificate to be
signed by Tenant is attached hereto as Exhibit F. If Tenant does not deliver to Landlord the certificate signed by Tenant within such required
time period, Landlord, Landlord's Mortgagee and any prospective purchaser or mortgagee, may conclusively presume and rely upon the following facts: (1) this Lease is in full force and effect,
(2) the terms and provisions of this Lease have not been changed except as otherwise represented by Landlord, (3) not more than one monthly installment of Basic Rent and other charges
have been paid in advance, (4) there are no claims against Landlord nor any defenses or rights of offset against collection of Rent or other charges, and (5) Landlord is not in default
under this Lease. In such event, Tenant shall be estopped from denying the truth of the presumed facts. 

        (f)    Notices.    All notices and other communications given pursuant to this Lease shall be
in writing and shall be (1) mailed by first class, United States Mail, postage prepaid, certified, with return receipt requested, and addressed to the parties hereto at the address specified in
the Basic Lease Information, (2) hand delivered to the intended addressee, (3) sent by a nationally recognized overnight courier service, or (4) sent by facsimile transmission
during normal business hours followed by a confirmatory letter sent in another manner permitted hereunder. All notices shall be effective upon delivery to the address of the addressee. The parties
hereto may change their addresses by giving notice thereof to the other in conformity with this provision. 

        (g)    Separability.    If any clause or provision of this Lease is illegal, invalid, or
unenforceable under present or future laws, then the remainder of this Lease shall not be affected thereby and in lieu of such clause or provision, there shall be added as a part of this Lease a
clause or provision 

20

 

as
similar in terms to such illegal, invalid, or unenforceable clause or provision as may be possible and be legal, valid, and enforceable. 

        (h)    Amendments; Binding Effect; No Electronic Records.    This Lease may not be amended
except by instrument in writing signed by Landlord and Tenant. No provision of this Lease shall be deemed to have been waived by Landlord unless such waiver is in writing signed by Landlord, and no
custom or practice which may evolve between the parties in the administration of the terms hereof shall waive or diminish the right of Landlord to insist upon the performance by Tenant in strict
accordance with the terms hereof. Landlord and Tenant hereby agree not to conduct the transactions or communications contemplated by this Lease by electronic means, except by facsimile transmission as
specifically set forth in Section 25(f); nor shall the use of the phrase "in writing" or the word "written" be construed to include electronic communications except by facsimile transmissions
as specifically set forth in Section 25(f). The terms and conditions contained in this Lease shall inure to the benefit of and be binding upon the parties hereto, and upon their respective
successors in interest and legal representatives, except as otherwise herein expressly provided. This Lease is for the sole benefit of Landlord and Tenant, and, other than Landlord's Mortgagee, no
third party shall be deemed a third party beneficiary hereof. 

        (i)    Quiet Enjoyment.    Provided Tenant has performed all of its obligations hereunder,
Tenant shall peaceably and quietly hold and enjoy the Premises for the Term, without hindrance from Landlord or any party claiming by, through, or under Landlord, but not otherwise, subject to the
terms and conditions of this Lease. 

        (j)    No Merger.    There shall be no merger of the leasehold estate hereby created with the
fee estate in the Premises or any part thereof if the same person acquires or holds, directly or indirectly, this Lease or any interest in this Lease and the fee estate in the leasehold Premises or
any interest in such fee estate. 

        (k)    No Offer.    The submission of this Lease to Tenant shall not be construed as an offer,
and Tenant shall not have any rights under this Lease unless Landlord executes a copy of this Lease and delivers it to Tenant. 

        (1)    Entire Agreement.    This Lease constitutes the entire agreement between Landlord and
Tenant regarding the subject matter hereof and supersedes all oral statements and prior writings relating thereto. Except for those set forth in this Lease, no representations, warranties, or
agreements have been made by Landlord or Tenant to the other with respect to this Lease or the obligations of Landlord or Tenant in connection therewith. The normal rule of construction that any
ambiguities be resolved against the drafting party shall not apply to the interpretation of this Lease or any exhibits or amendments hereto. 

        (m)    Waiver of Jury Trial.    TO THE MAXIMUM EXTENT PERMITTED BY
LAW, LANDLORD AND TENANT EACH WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY LITIGATION OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE ARISING OUT OF OR WITH RESPECT TO THIS LEASE OR ANY OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.

        (n)    Governing Law.    This Lease shall be governed by and construed in accordance with the
laws of the State of Minnesota. 

        (o)    Recording.    Tenant shall not record this Lease or any memorandum of this Lease
without the prior written consent of Landlord, which consent may be withheld or denied in the sole and absolute discretion of Landlord, and any recordation by Tenant shall be a material breach of this
Lease. Tenant grants to Landlord a power of attorney to execute and record a release releasing 

21

 

any
such recorded instrument of record that was recorded without the prior written consent of Landlord. 

        (p)    Joint and Several Liability.    If Tenant is comprised of more than one party, each
such party shall be jointly and severally liable for Tenant's obligations under this Lease. All unperformed obligations of Tenant hereunder not fully performed at the end of the Term shall survive the
end of the Term, including payment obligations with respect to Rent and all obligations concerning the condition and repair of the Premises. 

        (q)    Financial Reports.    Within 15 days after Landlord's request, Tenant will
furnish Tenant's most recent audited financial statements (including any notes to them) to Landlord, or, if no such audited
statements have been prepared, such other financial statements (and notes to them) as may have been prepared by an independent certified public accountant or, failing those, Tenant's internally
prepared financial statements. If Tenant is a publicly traded corporation, Tenant may satisfy its obligations hereunder by providing to Landlord Tenant's most recent annual and quarterly reports.
Tenant will discuss its financial statements with Landlord and, following the occurrence of an Event of Default hereunder, will give Landlord access to Tenant's books and records in order to enable
Landlord to verify the financial statements. Landlord will not disclose any aspect of Tenant's financial statements that Tenant designates to Landlord as confidential except (1) to Landlord's
Mortgagee or prospective mortgagees or purchasers of the Building, (2) in litigation between Landlord and Tenant, and/or (3) if required by court order. Tenant shall not be required to
deliver the financial statements required under this Section 25(q) more than once in any 12-month period unless requested by Landlord's Mortgagee or a prospective buyer or lender of
the Building or an Event of Default occurs. 

        (r)    Landlord's Fees.    Whenever Tenant requests Landlord to take any action not required
of it hereunder or give any consent required or permitted under this Lease, Tenant will reimburse Landlord for Landlord's reasonable, out-of-pocket costs payable to third
parties and incurred by Landlord in reviewing the proposed action or consent, including reasonable attorneys', engineers' or architects' fees, within 30 days after Landlord's delivery to Tenant
of a statement of such costs. Tenant will be obligated to make such reimbursement without regard to whether Landlord consents to any such proposed action. 

        (s)    Telecommunications.    Tenant and its telecommunications companies, including local
exchange telecommunications companies and alternative access vendor services companies, shall have no right of access to and within the Building, for the installation and operation of
telecommunications systems, including voice, video, data, Internet, and any other services provided over wire, fiber optic, microwave, wireless, and any other transmission systems
("Telecommunications Services"), for part or all of Tenant's telecommunications within the Building and from the Building to any other location without
Landlord's prior written consent. All providers of Telecommunications Services shall be required to comply with the rules and regulations of the Building, applicable Laws and Landlord's policies and
practices for the Building. Tenant acknowledges that Landlord shall not be required to provide or arrange for any Telecommunications Services and that Landlord shall have no liability to any Tenant
Party in connection with the installation, operation or maintenance of Telecommunications Services or any equipment or facilities relating thereto. Tenant, at its cost and for its own account, shall
be solely responsible for obtaining all Telecommunications Services. 

        (t)    Confidentiality.    Tenant acknowledges that the terms and conditions of this Lease are
to remain confidential for Landlord's benefit, and may not be disclosed by Tenant to anyone, by any manner or means, directly or indirectly, without Landlord's prior written consent. The consent by
Landlord to any disclosures shall not be deemed to be a waiver on the part of Landlord of any prohibition against any future disclosure. 

22

 

        (u)    Legal Fees.    In the event of any litigation to enforce or interpret the terms hereof,
the prevailing party shall be entitled to an award of its attorneys' fees and disbursements, through all appellate levels, and, as to Tenant, Landlord's attorneys' fees and disbursements shall
constitute Rent hereunder. Notwithstanding the foregoing, if Landlord commences any action against Tenant which action settles in favor of Landlord at or prior to any trial in connection therewith,
Landlord shall be entitled to recover from Tenant Landlord's attorneys' fees and disbursements and the same shall be payable by Tenant to Landlord with the next installment of Rent coming due and
shall constitute Rent hereunder. 

        (v)    Authority.    Tenant (if a corporation, partnership or other business entity) hereby
represents and warrants to Landlord that Tenant is a duly formed and existing entity qualified to do business in the state in which the Premises are located, that Tenant has full right and authority
to execute and deliver this Lease, and that each person signing on behalf of Tenant is authorized to do so. Landlord hereby represents and warrants to Tenant that Landlord is a duly formed and
existing entity qualified to do business in the state in which the Premises are located, that Landlord has full right and authority to execute and deliver this Lease, and that each person signing on
behalf of Landlord is authorized to do so. 

        (w)    Hazardous Materials.    The term "Hazardous
Materials" means any substance, material, or waste which is now or hereafter classified or considered to be hazardous, toxic, or dangerous under any Law relating to pollution
or the protection or regulation of human health, natural resources or the environment, or poses or threatens to pose a hazard to the health or safety of persons on the Premises or in the Project.
Tenant shall not use, generate, store, or dispose of, or permit the use, generation, storage or disposal of Hazardous Materials on or about the Premises or the Project except in a manner and quantity
necessary for the ordinary performance of Tenant's business, and then in compliance with all Laws. If Tenant breaches its obligations under this Section 25(w), Landlord may immediately take any
and all action reasonably appropriate to remedy the same, including taking all appropriate action to clean up or remediate any contamination resulting from Tenant's use, generation, storage or
disposal of Hazardous Materials. Notwithstanding Landlord's indemnity contained in Section 11(d), Tenant shall defend, indemnify, and hold harmless Landlord and its representatives and agents
from and against any and all claims, demands, liabilities, causes of action, suits, judgments, damages and expenses (including reasonable attorneys' fees and cost of clean up and remediation) arising
from Tenant's failure to comply with the provisions of this Section 25(w). This indemnity provision shall survive termination or expiration of this Lease. 

        (x)    Signage.    Landlord shall provide Tenant with (i) standard floor and suite
signage, and (ii) building standard lobby signage. 

        (y)    Access.    Tenant shall be entitled to access to the Premises via a
card-key system 24 hours per day, 7 days per week, 52 weeks per year. 

        (z)    List of Exhibits.    All exhibits and attachments attached
hereto are incorporated herein by this reference. 

	Exhibit A -	Outline of Premises
	Exhibit B -	Description of the Land
	Exhibit C -	Building Rules and Regulations
	Exhibit D -	Tenant Finish-Work
	Exhibit E -	Form of Confirmation of Commencement Date Letter
	Exhibit F -	Form of Tenant Estoppel Certificate
	Exhibit G -	Intentionally Omitted
	Exhibit H -	Expansion Option
	Exhibit I -	Rent Abatement

23

 

        26.    Other Provisions.    

        (a)    Tenant's Termination Right.    Tenant shall have the right to
terminate this Lease effective after the forty-second (42nd) month of the Term with nine (9) months prior written notice to Landlord ("Termination Notice") and payment of a fixed
termination fee of $28,483.00, which amount shall be payable to Landlord at the time the Termination Notice is delivered to Landlord. 

LANDLORD
AND TENANT EXPRESSLY DISCLAIM ANY IMPLIED WARRANTY THAT THE PREMISES ARE SUITABLE FOR TENANT'S INTENDED COMMERCIAL PURPOSE, AND TENANT'S OBLIGATION TO PAY RENT HEREUNDER IS NOT DEPENDENT UPON
THE CONDITION OF THE PREMISES OR THE PERFORMANCE BY LANDLORD OF ITS OBLIGATIONS HEREUNDER, AND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, TENANT SHALL CONTINUE TO PAY THE RENT, WITHOUT ABATEMENT,
DEMAND, SETOFF OR DEDUCTION, NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER EXPRESS OR IMPLIED. 

        This
Lease is executed on the respective dates set forth below, but for reference purposes, this Lease shall be dated as of the date first above written. If the execution date is left
blank, this Lease shall be deemed executed as of the date first written above. 

	

LANDLORD:	
 	
HI/OCC, INC., a Minnesota corporation
	

 	

 	

By:	

/s/ Mark B. Greco

	

 	
 	

Name:	

Mark B. Greco

	

 	
 	

Title:	

Vice Pres.

	

 	
 	

Execution Date:	

9/21/06

	

TENANT:	

 	

 PDSHEART, Inc., a Delaware corporation
	

 	

 	

By:	

/s/ Gregory A. Marsh

	

 	
 	

Name:	

Gregory A. Marsh

	

 	
 	

Title:	

COO & CFO, PDSHEART, Inc.

	

 	
 	

Execution Date:	

September 18, 2006

24

QuickLinks

Exhibit 10.15

LEASE AGREEMENT BETWEEN HI/OCC, INC., AS LANDLORD, AND PDSHEART, INC., AS TENANT DATED September 21st, 2006 EDINA, MINNESOTAQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.16    
    

LEASE AGREEMENT  

 NAVARRO LOWREY, L.P.—

CENTREPARK PLAZA I PARTNERS SERIES

a Delaware limited partnership authorized

to transact business in Florida as

Navarro Lowrey, Ltd.-Centrepark Plaza I Partners Series  

 ("Landlord")  

 PHYSICIANS DIAGNOSTIC SERVICES, LLC

a Delaware Corporation authorized to transact

business in Florida  

 ("Tenant")  

 TABLE OF CONTENTS  

	 
	 	 
	 	Page

	1.	 	PREMISES AND USE OF COMMON AREAS	 	1
	2.	 	TERM AND POSSESSION	 	2
	3.	 	RENT; RENT ADJUSTMENTS; ADDITIONAL RENT FOR OPERATING EXPENSES AND TAXES; SALES TAX	 	2
	4.	 	RESTRICTIONS ON USE	 	6
	5.	 	COMPLIANCE WITH LAWS	 	6
	6.	 	ALTERATIONS	 	6
	7.	 	REPAIR	 	7
	8.	 	LIENS	 	7
	9.	 	ASSIGNMENT AND SUBLETTING	 	7
	10.	 	INSURANCE AND INDEMNIFICATION	 	8
	11.	 	WAIVER OF SUBROGATION	 	9
	12.	 	SERVICES AND UTILITIES	 	10
	13.	 	TENANT'S CERTIFICATES	 	11
	14.	 	HOLDING OVER	 	11
	15.	 	SUBORDINATION	 	11
	16.	 	RULES AND REGULATIONS	 	11
	17.	 	RE-ENTRY BY LANDLORD	 	11
	18.	 	INSOLVENCY OR BANKRUPTCY	 	12
	19.	 	DEFAULT	 	12
	20	 	DAMAGE BY FIRE, ETC	 	13
	21	 	EMINENT DOMAIN	 	14
	22.	 	SALE BY LANDLORD	 	14
	23.	 	RIGHT OF LANDLORD TO PERFORM	 	14
	24.	 	SURRENDER OF PREMISES	 	14
	25.	 	WAIVER	 	15
	26.	 	NOTICES	 	15
	27.	 	TAXES PAYABLE BY TENANT	 	15
	28.	 	ABANDONMENT	 	15
	29.	 	SUCCESSORS AND ASSIGNS	 	16
	30.	 	ATTORNEYS' FEES	 	16
	31.	 	LIGHT, AIR, AND OTHER STRUCTURES	 	16
	32.	 	SECURITY DEPOSIT	 	16
	33.	 	CORPORATE AUTHORITY; FINANCIAL INFORMATION	 	16
	34.	 	PARKING	 	16
	35.	 	MISCELLANEOUS	 	17
	36.	 	REAL ESTATE BROKERS	 	17
	37.	 	RECORDING	 	17
	38.	 	SUBMISSION TO CONDOMINIUM	 	17
	39.	 	RELOCATION	 	 
	40.	 	HAZARDOUS SUBSTANCES	 	18
	41.	 	RADON GAS	 	20
	42	 	WAIVER OF JURY TRIAL	 	20
	43.	 	QUIET ENJOYMENT	 	20
	44.	 	FINANCIAL INFORMATION	 	20

Attachments:

	Exhibit A:	 	DESCRIPTION OF PREMISES
	Exhibit B:	 	Intentionally Deleted
	Exhibit C:	 	Intentionally Deleted
	Exhibit D:	 	Intentionally Deleted
	Exhibit E:	 	CERTIFICATE OF TENANT
	Exhibit F:	 	RULES AND REGULATIONS
	

Schedule 1:	
 	

BASIC LEASE INFORMATION
	Schedule 2:	 	FINANCIAL STATEMENTS

   LEASE AGREEMENT  

        THIS LEASE AGREEMENT is made and entered into this 14 day of Nov, 2001 by and between NAVARRO LOWREY, L.P.—CENTREPARK PLAZA I PARTNERS SERIES,
a Delaware limited partnership authorized to transact business in Florida as Navarro Lowrey, Ltd.—Centrepark Plaza I Partners Series ("Landlord") and, PHYSICIANS DIAGNOSTIC SYSTEMS,
LLC, authorized to transact business in Florida ("Tenant"). 

        Subject
to the terms, covenants and conditions hereinafter set forth, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord those premises (the "Premises") comprised
within the area substantially as outlined in red on attached Exhibit "A," in the building (the "Building") specified in the Basic Lease Information attached hereto as Schedule 1 (the "Basic
Lease Information"). 

        1.    PREMISES AND USE OF COMMON AREAS.    

        (a)   The
Premises shall for all purposes under this Lease be deemed to contain the number of rentable square feet of area, specified in the Basic Lease Information, which
includes a proportionate share of the Building Common Areas (as hereinafter defined). Tenant shall use and occupy the Premises for the purpose as specified in the Basic Lease Information, and for no
other use or purpose without the prior written consent of Landlord. 

        (b)   The
use and occupation by Tenant of the Premises shall include the nonexclusive use, in common with others entitled thereto, of the hallways, elevators, toilets,
stairways, entrance ways, grounds, sidewalks and parking areas (hereinafter collectively "Building Common Areas") designated by Landlord to be for the benefit of or as a part of the Building, as such
Building Common Areas now exist or as may hereafter be constructed and subject, however, to the terms and conditions of this Lease and to the rules and regulations for the use thereof as may be
prescribed from time to time by Landlord. The Building Common Areas shall at all times be subject to the exclusive control and management of Landlord, and Landlord shall have the right, from time to
time, to change the areas, locations and arrangements of the facilities hereinabove referred to and the right, at any time, to perform maintenance operations and to make repairs, alterations, or
additions to the Building, the Building Common Areas and the remainder of the Office Park. Tenant agrees to cooperate with Landlord, permitting Landlord to accomplish any such maintenance, repairs,
alterations, additions or construction. Landlord reserves the right, at any time, to add to or reduce the Building Common Areas. 

        (c)   Tenant
acknowledges that the Building and its Common Areas are part of a multi-structure commercial office space facility (the "Office Park") constructed or to be
constructed by Landlord on Lot 4 of the Plat of Centrepark Plat 2, Plat Book 66, Page 51, and known as "Centrepark Plaza". Tenant's rights under this Lease, however, extend only to the Premises and
the Building Common Areas as described herein. Landlord shall have the right, but not the obligation, to supply the services to be provided by Landlord hereunder by virtue of contracts for the
supplying of such services to the entire Office Park, in which event the cost of such services shall be equitably apportioned to the Building as Landlord may reasonably determine. Tenant agrees to
cooperate with Landlord in the further construction of the Office Park and acknowledges that any temporary inconvenience, or any diminution in Building Common Areas attributable thereto shall not
constitute an eviction, nor entitle Tenant to any diminution in rent therefore. Landlord shall have the right to subdivide the Office Park, declare portions of the Office Park to be condominium(s) or
otherwise provide for separate ownership of the Buildings and their respective Building Common Areas within the Office Park. 

        (d)   Any
Exhibit attached to this Lease, or any other general description of the Premises, Building or Office Park delivered to Tenant which shall set forth the approximate
location of the Premises, is agreed to be a tentative general layout of the Premises, the Building, the Office Park and/or the surrounding areas. Such exhibit or other information shall not be deemed
a warranty, a representation, 

1

 

or
agreement on the part of the Landlord that the final as-built structures or the configuration of the surrounding areas will be as indicated or depicted on said Exhibit or other
information or will remain as indicated or depicted throughout the term of this Lease. 

        (e)   Landlord
reserves and shall have the exclusive right to approve and install signs on the exterior and/or roof of the Building or other improvements located or to be
constructed in the Office Park, so long as such signs do not obstruct Tenant's view, and to receive such consideration therefore as Landlord deems appropriate. Nothing contained in this Lease shall be
deemed to have granted to Tenant any rights in or to the outer side of the outside walls of the Building, or the roof thereof. 

        (f)    Landlord
reserves the right to grant easements over, under, and through all portions of the Building and the remainder of the Office Park for such purposes as the
Landlord deems appropriate, without any liability to Tenant for compensation or abatement of rent, so long as such easements do not materially interfere with Tenant's use of the Premises. 

        2.    TERM AND POSSESSION.    

        (a)   The
term of this Lease (the "Term") shall commence September 1, 2001. The term of this Lease shall continue for the period specified in the Basic Lease
Information (or until sooner terminated as herein provided). The dates upon which the Term shall commence and terminate pursuant to this Paragraph 2(a) are herein called the "Commencement Date"
and the "Expiration Date," respectively. 

        (b)   Intentionally
deleted. 

        (c)   Tenant
leases and agrees to accept the Premises "as is" and Tenant releases Landlord from any and all claims arising from any defect (not including latent defects) in
condition of the Premises, the Building Common Areas, or the Office Park. Landlord shall not be required to decorate or make any repairs or improvements to the Premises, the Building or the Office
Park, which are not expressly stated herein as Landlord's responsibility. Tenant hereby acknowledges Landlord has made no promises, agreements or representations as to the decorations, repair,
alterations, or maintenance of the Premises or any other portion of the Building except as set forth herein. 

        3.    RENT; RENT ADJUSTMENTS; ADDITIONAL RENT FOR OPERATING EXPENSES AND TAXES; SALES TAX.    

        (a)   Tenant
shall pay to Landlord throughout the Term the Annual Base Rent specified in the Basic Lease Information, as adjusted pursuant to Paragraph 3(b) hereof
which sum shall be payable by Tenant in equal monthly installments on or before the first day of each month, in advance, in lawful money of the United States, without any prior demand therefore and
without deduction or offset whatsoever. The Annual Base Rent shall be paid to Landlord or its managing agent at the address as specified in the Basic Lease Information or to such other firm or to such
other place as Landlord or its managing agent may from time to time designate in writing. In addition to the Annual Base Rent, Tenant shall pay to Landlord all charges and other amounts whatsoever as
provided in this Lease ("Additional Rent"), which shall be payable to Landlord at the time and place where the Annual Base Rent is payable and Landlord shall have the same remedies for a default in
the payment of Additional Rent as for a default in the payment of Annual Base Rent. For the purposes of this Lease, the term "Rent", as hereinafter used, shall collectively constitute both Annual Base
Rent and Additional Rent payable by Tenant. If the Commencement Date should occur on a day other than the first day of a calendar month, or the Expiration Date should occur on a day other than the
last day of a calendar month, then the Rent for such fractional month shall be prorated on a daily basis. Tenant shall be authorized to pay Rent directly to the holder of any mortgage encumbering the
Premises upon Tenants' receipt of written notice from said mortgagee directing that payment of rent be made to the mortgagee. 

2

 

        (b)   The
Annual Base Rent shall be adjusted annually during the Term on each anniversary date of this Lease Agreement commencing one year after the Commencement Date (each
anniversary date upon which an adjustment to the Annual Base Rent shall be made shall hereinafter be called an "Adjustment Date") in accordance with the Annual Base Rent Schedule of Schedule I
Basic Lease Information herein. 

        (c)   For
purposes of this Paragraph 3(c), the following terms shall have the meanings hereinafter set forth: 

        (A)  "Tenant's
Share" shall mean the percentage figure so specified in the Basic Lease Information. For information purposes only, Tenant's Share has been computed by
dividing the rentable square feet of the Premises by ninety-five percent (95%) of the total rentable square feet of the Building and, in the event that either the rentable square feet of
the Premises or the total rentable square feet of the Building is changed, Tenant's Share will be appropriately adjusted, and, as to the Tax Year or the Expense Year (as said terms are herein defined)
in which such change occurs, for purposes of this Paragraph 3(c)(i)(A), Tenant's Share shall be determined on the basis of the number of days during such Tax Year and such Expense Year at each
respective percentage. 

        (B)  "Real
Estate Taxes" shall mean all taxes, assessments and charges levied upon or with respect to the Building or any personal property of Landlord used in the operation
thereof, or Landlord's interest in the Building or such personal property without regard for any discounts available for early payment. In the event Landlord pays a discounted amount, said discount
shall be passed through to Tenant. Real Estate Taxes shall include, without limitation, all general real property taxes and general and special assessments, charges, fees, or assessments for transit,
drainage, housing, police, fire, or other governmental services or purported benefits to the Building, or service payments in lieu of taxes, that are now or hereafter levied or assessed against
Landlord by any governmental or other authority having jurisdiction over same, and shall also include any other tax, fee, or other excise, however described, that may be levied or assessed as a
substitute for, or as an addition to, in whole or in part, any other Real Estate Taxes, whether or not now customary or in the contemplation of the parties on the date of this Lease. Real Estate Taxes
shall also include reasonable legal fees, costs, and disbursements incurred in connection with proceedings to contest, determine, or reduce Real Estate Taxes. 

        (C)  "Expenses"
shall mean the total costs and expenses paid or incurred by Landlord in connection with the management, operation, maintenance and repair of the Building and
the Building Common Areas, as adjusted in accordance with paragraph 3(e) hereof, including, without limitation, (1) the cost of air conditioning, electricity, steam, heating, mechanical,
ventilating, and elevator systems and all other utilities and the cost of supplies and equipment and maintenance and service contracts in connection therewith, (2) the cost of repairs and
general maintenance cleaning, (3) the cost of fire, extended coverage, all risk, boiler, sprinkler, public liability, property damage, flood, rent, earthquake, umbrella coverage, and other
insurance, (4) wages, salaries and other labor costs, including taxes, insurance, retirement, medical and other employee benefits, (5) fees, charges and other costs, including management
fees, consulting fees, legal fees and accounting fees, of all independent contractors engaged by Landlord or reasonably charged by Landlord if Landlord performs management services in connection with
the Building, (6) the cost of security for the Building and/or the Office Park, (7) the cost of installing existing hurricane shutters on the Building in the event of the threat of a
tropical storm, hurricane or other event for which Landlord determines, in its reasonable discretion, that said shutters are necessary for the protection of the Building, (8) the cost of any
membership fees, expenses or charges imposed by Centrepark Property Owners Association, Inc. or any association created to manage and/or maintain the Building Common Areas or other public areas
of the Office Park and all costs of such common or public area management and maintenance, (8) the cost of any capital improvements made to the Building after completion of its construction as
a labor-saving device or 

3

 

to
effect other economies in the operation or maintenance of the Building, or that are made to the Building after the date of this Lease and are required under any governmental law or regulation that
was not applicable to the Building at the time that permits for the construction thereof were obtained, or refurbishing, decorating, or replacement of items of personal property within the Building or
within the Office Park such cost to be amortized over such reasonable period as Landlord shall determine, (9) any other expenses of any other kind whatsoever reasonably incurred in managing,
operating, maintaining and repairing the Building, (10) all Real Estate Taxes, and (11) reasonable reserve for recurring capital expenditures, such as painting, resurfacing paved areas
and replacing roofs. 

        (D)  "Expense
Year" shall mean each twelve (12) consecutive month period commencing January 1st of the calendar year during which the Commencement Date of this
Lease occurs, provided that Landlord, upon notice to Tenant, may change the Expense Year from time to time to any other twelve (12) consecutive month period, and, in the event of any such
change, Tenant's Share of the Expenses shall be equitably adjusted for each Expense Year involved in any such change. In the event the Commencement Date occurs during the calendar year in which the
Building is constructed and receives a certificate of occupancy, the Expense Year shall be less than a twelve (12) month period and shall commence on the date the first tenant takes possession
of space in the Building and shall end on the last day of the calendar year thereafter. 

        (E)  "Tax
Year" shall mean each calendar year during the Term including the calendar years, which contain the Commencement Date and the Termination Date. 

          (i)  Tenant
shall pay to Landlord as Additional Rent one twelfth (l/12th) of Tenant's Share of the Expenses for each Expense Year on or before the first day of each month of
such Expense Year, in
advance, in an amount estimated by Landlord and billed by Landlord to Tenant, and Landlord shall have the right initially to determine monthly estimates and to revise such estimates from time to time.
With reasonable promptness after the expiration of each Expense Year, Landlord shall furnish Tenant with a statement (herein called "Landlord's Expense Statement"), setting forth in reasonable detail
the Expenses for such Expense Year and Tenant's Share thereof. If the actual Expenses for such Expense Year exceed the estimated Expenses paid by Tenant for such Expense Year, Tenant shall pay to
Landlord the difference between the amount paid by Tenant and Tenant's Share (as specified in the Basic Lease Information) of the actual Expenses within fifteen (15) days after the receipt of
Landlord's Expense Statement, and if the total amount paid by Tenant for any such Expense Year shall exceed the actual Expenses for such Expense Year, such excess shall be credited against the next
installment of the estimated Expenses due from Tenant to Landlord hereunder. 

         (ii)  If
the Commencement Date shall occur on a date other than the first day of an Expense Year, Tenant's Share of the Expenses for the Expense Year in which the
Commencement Date shall occur, shall be in the proportion that the number of days from and including the Commencement Date to and including the last day of the Tax and/or Expense Year in which
Commencement Date shall occur shall bear to 365. Similarly, if the Expiration Date shall occur on a date other than the last day of an Expense Year, Tenant's Share of the Expenses, for the Expense
Year in which the Expiration Date shall occur shall be in the proportion that the number of days from and including the first day of the Expense Year in which the Expiration Date shall occur to and
including the Expiration Date shall bear to 365. Notwithstanding the foregoing, Landlord may, pending the determination of the amount of the Expenses for such partial Expense Year, furnish Tenant with
statements of estimated Expenses, and Tenant's Share thereof for such partial Expense Year. Within fifteen (15) days after receipt of such estimated statement, Tenant shall remit to Landlord,
as Additional Rent, the amount of Tenant's Share of such Expenses. After such Real Estate 

4

 

Taxes
and such Expenses have been finally determined and Landlord's Expense Statement shall have been furnished to Tenant pursuant to Paragraph 3(c) (ii) hereof and if there shall have
been an underpayment of Tenant's Share of the Expenses, Tenant shall remit the amount of such underpayment to Landlord within fifteen (15) days of receipt of such statement, and if there shall
have been an overpayment, Landlord shall remit the amount of any such overpayment to Tenant within fifteen (15) days of the issuance of such statement. 

        (d)   Tenant
recognizes that late payment of any Rent will result in administrative expense to Landlord. Tenant therefore agrees that if any Rent shall remain unpaid five
(5) days after the amount is due, the amount of such unpaid Rent shall be increased by a late charge to be paid to Landlord by Tenant in an amount equal to five percent (5%) of the amount of
the delinquent Rent. The amount of the late charge to be paid to Landlord by Tenant on any unpaid Rent shall be reassessed and added to Tenant's obligation for each successive monthly period accruing
after the date on which the late charge shall be initially imposed. The provisions of this Paragraph 3(d) in no way relieve Tenant of the obligation to pay Rent on or before the date on which
it shall be due, nor do the terms of this Paragraph 3(d) in any way affect Landlord's remedies pursuant to Paragraph 19 in the event any Rent shall be unpaid after the date due. 

        (e)   If
during any Expense Year the Building is not ninety-five percent (95%) occupied, the Expenses, which vary with occupancy for such Expense Year, shall be
adjusted to what they would have been if ninety-five percent (95%) of the Building had been occupied and fully serviced throughout such Expense Year, as estimated in good faith by
Landlord. Further, Landlord shall not collect from Tenants of the Building more than one hundred percent (100%) of the actual Expenses incurred by Landlord during any Expense Year. It is the intent of
this provision that if during any period covered by a Landlord's Expense Statement, Landlord shall not furnish any particular item(s) of work, services, or utilities (which would constitute an Expense
under this Section 3) to portions of the Building because those portions are not occupied or leased, or because the item of work, services, or utilities is not required or desired by the tenant
of that portion of the Building, or the Tenant is itself obtaining and providing that item of work, services, or utilities or is separately paying Landlord for that item (and not under a provision in
its lease substantially the same as this section), or for other similar reasons, then, for the purpose of computing the Tenant's Share of Expenses, the amount of the Expenses, for that item for that
period, shall be increased by an amount equal to the additional operating and maintenance expenses that would reasonably have been incurred during that period by Landlord if it had at its own expense
furnished the applicable item of work, services, or utilities to the applicable portion of the Building. Notwithstanding anything contained in this section to the contrary, this provision shall apply
only to Expenses (such as, but not limited to, janitorial services, utilities, refuse and waste disposal, and management fees) which vary with occupancy or use, and under no circumstances shall it
apply to any fixed costs which do not vary with occupancy or use. (For purposes of an example and illustration only: If there were only two tenants in the Building and one of the tenant's moved out
leaving 50% of the Building vacant, the Landlord would be able to reduce the janitorial services cost as it would only be providing janitorial services to the remaining tenant. The remaining tenant
would be the only beneficiary of the janitorial services but would be paying for only half of the benefits it receives, as it is only required to pay its pro rata share of operating costs (50%). The
remaining tenant would be receiving a windfall if the Landlord could not pass through the entire janitorial services cost for the tenant's premises. Hypothetical dollar amounts may be used to further
illustrate the point. In a two tenant building that is fully leased, the janitorial costs are $200.00 so $100.00 of that cost would be passed through to each tenant. If one tenant vacated, the
janitorial costs would be reduced to $100.00 but the remaining tenant would only be paying $50.00, its 50% pro rata share. This provision allows the Landlord to pass through the $100.00. This way
there is no windfall to either Landlord or Tenant). 

5

 

        4.    RESTRICTIONS ON USE.    Tenant shall use and occupy the Premises for the purpose as specified in the Basic Lease
Information, and for no other use or purpose without the prior written consent of Landlord. Tenant shall not do or permit anything to be done in or about the Premises which will in any way obstruct or
interfere with the rights of other tenants or occupants of the Building or injure or annoy them, nor use or allow the Premises to be used for any improper, immoral, unlawful or objectionable purpose,
nor shall Tenant cause or maintain or permit any nuisance in, on or about the Premises. Tenant shall not commit or suffer the commission of any waste in, on or about the Premises. 

        5.    COMPLIANCE WITH LAWS.    Tenant shall not use the Premises or permit anything to be done in or about the
Premises which will conflict with any law, statute, ordinance or governmental rule or regulation now in force or which may hereafter be enacted. Tenant shall not permit anything to be done on the
Premises or bring or keep anything therein which shall in any way increase the rate of any
insurance upon the Building or any of its contents or the Office Park or cause a cancellation of such insurance, and Tenant shall at its sole cost and expense promptly comply with all laws, codes,
ordinances and governmental regulations now in force or which may hereafter be in force and with the requirements of any board of fire underwriters or other similar body relating to or affecting the
condition, use or occupancy of the Premises. 

        6.    ALTERATIONS.    

        (a)   Tenant
shall not make any alterations, additions or improvements (collectively, "Alterations") in, on or to the Premises or any part thereof without the prior written
consent of Landlord. Any Alterations, except for Tenant's movable furniture and equipment, shall immediately become Landlord's property and, at the end of the Term, shall remain on the Premises
without compensation to Tenant; provided, however, that any such movable furniture and equipment, otherwise belonging to Tenant, but which shall remain on the Premises at the expiration or other
termination of the Term shall also become the property of Landlord unless promptly removed by Tenant. In the event Landlord shall consent to the making of any Alterations by Tenant, the same shall be
made by Tenant, at Tenant's sole cost and expense, in accordance with plans and specifications previously approved by Landlord, and any contractor or person selected by Tenant to make Alterations must
first be approved in writing by Landlord. Before any Alterations shall be commenced, Tenant shall furnish Landlord with workmen's compensation and public liability insurance and shall comply with all
applicable laws, including but not limited to the Mechanic's Lien Law of the State of Florida, ordinances, regulations, building codes, and shall obtain all required permits, inspections, and
certificates as shall be required by all governmental agencies having jurisdiction thereof. Upon the expiration or sooner termination of the Term, Tenant shall upon demand by Landlord, at Tenant's
sole cost and expense, remove any Alterations made by or for the account of Tenant, which Landlord shall designate for removal, and Tenant shall, at its sole cost and expense, repair and restore the
Premises to its original condition. Notwithstanding the aforementioned, Tenant will only be required to remove those Alterations not previously approved by Landlord. 

        (b)   Lessee
shall not paint or install any signs in or on the Premises, on the exterior doors, plate glass or exterior walls of the Premises or the Building, without the
prior written consent of Landlord. Such written consent shall be required as to the content of the sign, its size, material, format, the manner and method of its installation. Landlord reserves the
right to require Tenant, at Tenant's sole expense, to modify, remove, replace or redesign its sign so as to harmonize the sign with the overall appearance and design now or hereafter existing in the
Building. Landlord reserves the right to change the sign policies and design criteria with respect thereto at any time during this Lease and Tenant agrees to conform to such changes within fifteen
(15) days of receipt of written notice from Landlord pertaining thereto. No furniture, doormats, or other objects shall be placed by Tenant in the corridors or elsewhere in or about the
Building other than within the Premises. 

6

 

        7.    REPAIR.    

        (a)   Tenant,
at its sole cost and expense, shall take good care of the Premises, including all building equipment and systems located therein and serving the Premises. Tenant
shall make all repairs, interior or exterior, structural or otherwise, as and when needed, to preserve the Premises, the need for which repair arises out of (i) the performance or existence of
any Alteration to the Premises made by Tenant, (ii) the installation or operation of Tenant's property or fixtures, and the movement of same in or about the Premises or the Building,
(iii) the acts, failures to act or negligence of Tenant or Tenant's servants, employees, contractors, agents, visitors or licensees, or (iv) the use, of the Premises by Tenant or
Tenant's servants, employees, contractors, agents, visitors or licensees. Landlord shall not be liable for and, except as provided in Paragraph 20, there shall be no abatement of Rent with
respect to any injury to or interference with Tenant's business arising from any repairs, maintenance, alteration or interruption of services in or to any portion of the Office Park or Building,
including the Premises, or to the fixtures, appurtenances and equipment therein. 

        (b)   All
repairs and replacements made by or on behalf of Tenant shall be made and performed in a workmanlike manner (i) at Tenant's cost and expense and at such time
and in such manner as Landlord may designate, (ii) by contractors approved by Landlord, (iii) such work shall be at least equal in quality, value, and utility to the original work or
installation, and (iv) in accordance with the Rules and Regulations for the Building adopted by Landlord from time to time and in accordance with all applicable laws and regulations of
governmental authorities having jurisdiction over the Premises. If Tenant shall fail after 10 days' notice by Landlord to proceed with due diligence to make repairs required to be made by
Tenant, Landlord may make the repairs at the expense of Tenant and the expenses thereof incurred by Landlord shall be reimbursed immediately as Additional Rent after submission of a bill or statement
there for. 

        8.    LIENS.    Tenant shall keep the Premises free from any liens, including but not limited to mechanic's liens,
arising out of any work performed, material furnished or obligations incurred by Tenant. In the event that Tenant shall not, within ten (10) days following the imposition of any such lien,
cause the same to be released of record by payment or posting of a proper bond, Landlord, in addition to all other remedies provided herein and by law, shall have the right, but not the obligation, to
cause the same to be released by such means as it shall deem proper, including payment of the claim giving rise to such lien. All such sums which Landlord shall pay, including attorneys' fees if any,
and expenses incurred by it in connection therewith shall be considered Additional Rent and shall be payable to it by Tenant on demand with interest at the maximum rate permitted by law. Landlord
shall have the right, at all times, to post and keep posted on the Premises any notices permitted or required by law, or which Landlord shall deem proper, for the protection of Landlord, the Premises,
the Building and any other party having an interest therein, Tenant shall give to Landlord at least five (5) business days' prior notice of commencement of any construction on the Premises.
Pursuant to Chapter 713, Florida Statutes, the interest of Landlord in the Premises and the Building shall not be subject to liens for improvements made by Tenant and such liability shall be expressly
prohibited. 

        9.    ASSIGNMENT AND SUBLETTING.    

        (a)   Tenant
shall not directly or indirectly, voluntarily or by operation of law, assign, encumber, or otherwise transfer all or any part of Tenant's leasehold estate
hereunder nor shall Tenant sublease the Premises or any portion thereof without Landlord's prior written consent in each instance, which consent Landlord may grant or withhold in its sole discretion. 

        (b)   If
Tenant shall desire to enter into an assignment of this Lease or a sublease of the Premises or any portion thereof, it shall first give written notice to Landlord of
its desire to do so, which notice shall contain: (i) the name of the proposed assignee, subtenant or occupant, (ii) the nature of the proposed assignee's, subtenant's or occupant's
business to be carried on in the Premises, (iii) the terms 

7

 

and
provisions of the proposed assignment or sublease, and (iv) such financial information as Landlord may reasonably request concerning the proposed assignee or subtenant. 

        (c)   At
any time within thirty (30) days after Landlord's receipt of the notice specified in Paragraph 9(b) hereof, Landlord may, by written notice to Tenant,
elect to (i) terminate this Lease as to the portion (including all) of the Premises that is specified in Tenant's notice, with a proportionate abatement in Rent or (ii) consent to the
sublease or assignment, or (iii) disapprove the sublease or assignment. In the event Landlord shall elect to terminate this Lease provided in clause 9(c)(i) hereof with respect to
a portion of the Premises, Tenant shall at all times provide reasonable and appropriate access to such portion of the Premises and Landlord shall have the right to use such portion of the Premises for
any legal purpose in its sole discretion without the consent of Tenant. 

        (d)   No
consent by Landlord to any assignment or sublease by Tenant shall relieve Tenant of any obligation to be performed by Tenant under this Lease, whether arising before
or after the assignment or sublease, nor of the obligation to obtain Landlord's express written consent to any other assignment or sublease. Any assignment or sublease that shall not be in compliance
with this Paragraph 9 shall be void and, at the option of Landlord, shall constitute a material default by Tenant under this Lease. The acceptance of Rent by Landlord from a proposed assignee
or sublessee shall not constitute the consent to such assignment or sublease by Landlord. 

        (e)   Any
sale or other transfer, including by consolidation, merger or reorganization, of a majority of the voting stock of Tenant, if Tenant is a corporation, or any sale or
other transfer of a majority of the partnership interests in Tenant, if Tenant is a partnership, shall be an assignment for purposes of this Paragraph 9. As used in this Paragraph 9(e),
the term "Tenant" shall also mean any entity, which has guaranteed Tenant's obligations under this Lease, and the prohibition hereof shall be applicable to any sales or transfers of the stock or
partnership interests of said guarantor. 

        (f)    Each
approved assignee, sublessee or other transferee shall assume, as provided in this Paragraph 9(f), all obligations of Tenant under this Lease and shall be
and remain liable jointly and severally with Tenant for the payment of Rent, and for the performance of all the terms, covenants, conditions and agreements herein contained on Tenant's part to be
performed for the Term. No assignment shall be binding on Landlord unless Landlord shall have consented to same, and the assignee or Tenant shall deliver to Landlord a counterpart of the assignment
that shall contain a covenant of assumption by the assignee satisfactory in substance and form to Landlord, consistent with the requirements of this Paragraph 9(f). The failure or refusal of
the assignee to execute such instrument of assumption shall not release or discharge the assignee from its liability as set forth above. 

        10.    INSURANCE AND INDEMNIFICATION.    

        (a)   Landlord
shall not be liable to Tenant except for Landlord's own grossnegligence. Tenant hereby waives all claims against Landlord for any injury or damage to any person
or property in or about the Premises by or from any cause whatsoever, including without limitation, damage caused by water leakage of any character from the roof, walls, pipes, basement or other
portion of the Premises or the Building, or caused by gas, fire, oil, electricity or any cause whatsoever, in, on or about the Premises or the Building or any part thereof. 

        (b)   Tenant
shall indemnify, defend and hold Landlord harmless from any and all claims or liability for any injury or damage to any person or property whatsoever, unless and
to the extent that such claims or liability are due to Landlord's own grossnegligence, which claims shall occur on or about the Premises (including the Building Common Areas), or on or about the
Office Park (including common areas thereof), when such injury or damage shall be caused in whole or in part by the act, failure to act, neglect or fault of Tenant, its agents, servants, employees or
invitees. Tenant shall further indemnify and hold Landlord harmless from any default by Tenant in the performance of any covenant to be performed by Tenant pursuant to this Lease or which shall arise
from any act or negligence of Tenant, 

8

 

or
any of its agents, contractors, servants, employees or licensees, and from and against all costs, counsel fees, and expenses which Landlord shall incur in connection with any such claim or action
or proceeding brought thereon. Furthermore, in case any action or proceeding shall be brought against Landlord by reason of any claims or liabilities not due to Landlord's own grossnegligence, Tenant
shall defend such action or proceeding at Tenant's sole expense by counsel chosen by Landlord and reasonably satisfactory to Tenant. The provisions of this Paragraph 10 shall survive the
expiration or termination of this Lease with respect to any claims or liability occurring prior to such expiration or termination. 

        (c)   Tenant
shall procure at its cost and expense, and shall keep in effect during the term of the Lease, comprehensive general liability insurance including contractual
liability with a minimum combined single limit of liability of the greater of the amount required in the Basic Lease Information, or One Million Dollars ($ 1,000,000.00). The insurance required by
this Paragraph 10(c) shall name Landlord as an additional insured, shall specifically include the liability assumed hereunder by Tenant (provided that the amount of such insurance shall not be
construed to limit the liability of Tenant hereunder), and shall provide that it is primary insurance, and not excess over or contributory with any other valid, existing and applicable insurance in
force for or on behalf of Landlord, and shall provide that Landlord shall receive thirty (30) days' written notice from the insurer prior to any cancellation or change of coverage. Tenant shall
deliver policies of such insurance or certificates thereof to Landlord on or before the Commencement Date, and thereafter at least thirty (30) days before the expiration dates of expiring
policies. In the event Tenant shall fail to procure such insurance, or to deliver such policies or certificates, and after Landlord has notified Tenant, Landlord may, at its option, procure same for
the account of Tenant, and the cost thereof shall be paid to Landlord as Additional Rent within five (5) days after delivery to Tenant of bills therefore. Tenant's compliance with the
provisions of this Paragraph 10(c) shall in no way limit Tenant's liability under any of the other provisions of this Paragraph 10. 

        (d)   Tenant
shall obtain and keep in force during the entire term of this Lease, fire insurance including extended coverage, vandalism and malicious mischief, upon property
of every description and kind owned by Tenant and located in the Premises or the Building, or for which Tenant shall be legally liable, or which shall be installed by or on behalf of Tenant,
including, without limitation, furniture, fixtures, equipment, leasehold improvements (other than the Standard Improvements) and alterations, in an amount not less than one hundred percent (100%) of
the full replacement cost thereof. 

        (e)   Tenant
shall obtain and maintain in full force and effect during the entire term of this Lease, and any extensions or renewals, business interruption insurance payable
in case of loss resulting from damage to the Premises or the Building by fire or other casualty. Such insurance shall be maintained in an amount not less than the sum of all Annual Base Rent and
additional rent coming due for the then current calendar year as estimated by Landlord. 

        (f)    Tenant
shall not do or permit any activity to be done on the Premises, which shall be contrary to the provisions of any insurance policy which shall insure the Building
or any property therein, or which shall cause the premiums for such insurance to increase over standard premiums. Tenant shall reimburse Landlord and any other Tenants in the Building for increases in
standard rates of insurance, which shall be caused by activities of the Tenant. 

        11.    WAIVER OF SUBROGATION.    Landlord and Tenant shall each obtain from their respective insurers under all
policies of insurance maintained by either of them at any time during the Term, a waiver of all rights of subrogation which the insurer of one party might otherwise have against the other party.
Landlord and Tenant shall each indemnify the other against any loss or expense, including reasonable attorneys' fees, which shall result from the failure to obtain such waiver. 

9

 

        12.    SERVICES AND UTILITIES.    

        (a)   Landlord
shall maintain the Building Common Areas, the common areas of the Office Park, the windows in the Building, the mechanical, plumbing and electrical equipment
serving the Building, and the structure itself, in reasonably good order and condition, except for damage occasioned by the act of Tenant, which damage Landlord shall repair at Tenant's expense. 

        (b)   Provided
Tenant shall not be in default hereunder, and subject to the provisions elsewhere herein contained and to the rules and regulations of the Building, Landlord
agrees to furnish to the Premises janitorial services during the times and in the manner that such services are, in Landlord's judgment, customarily furnished in comparable office buildings in the
immediate market area, elevator service and water service. Landlord shall also furnish the Building Common Areas with heat, air conditioning, electric and water required in Landlord's judgment for the
use of the Building Common Areas. Landlord shall establish separate electrical service and metering of the Premises. All electric bills associated with the separate meters shall be sent directly to
Tenant for payment. 

        (c)   Landlord
shall not be in default hereunder or be liable for any damages directly or indirectly resulting from, nor shall the rental herein reserved be abated by reason
of, (i) the installation, use or interruption of use of any equipment in connection with the furnishing of any of the foregoing utilities and services, (ii) failure to furnish, or delay
in furnishing, any such utilities or services when such failure or delay shall be caused by acts of God or the elements, labor disturbances of any character, any other accidents or other conditions
which shall be beyond the reasonable control of Landlord, or by the making of repairs or improvements to the Premises, to the Building or to the Office Park, or (iii) the limitation,
curtailment, rationing or restriction on use of water, electricity, gas or any other form of energy or any other service or utility whatsoever which shall serve the Premises or the Building.
Furthermore, Landlord shall be entitled to cooperate voluntarily in a reasonable manner with the efforts of national, state or local governmental agencies or utilities suppliers in reducing energy or
other resource consumption, not to affect the Tenant's separate meter. 

10

   
        13.    TENANT'S CERTIFICATES.    Tenant, at any time and from time to time within ten (10) days after Landlord
shall make request, will execute, acknowledge and deliver to Landlord and, at Landlord's request, to any prospective purchaser or mortgagee of any part of the Building or the Office Park or the land
upon which the Building is located, a certificate of Tenant in the form attached as Exhibit "E" and also containing any other information that may reasonably be required by any of such persons. It is
intended that any certificate of which Tenant shall deliver pursuant to this Paragraph 13 may be relied upon by Landlord and any such prospective purchaser. 

        14.    HOLDING OVER.    Any holding over after expiration of the Term without Landlord's written consent shall
constitute a default by Tenant and entitle Landlord to re-enter the Premises as provided in Paragraph 19 and collect double the Annual Base Rent herein specified (prorated on a
monthly basis), together with the Additional Rent. 

        15.    SUBORDINATION.    This Lease is and shall be subject and subordinate at all times to: (a) all
Declarations of Condominiums, all ground leases or underlying leases which may now exist or hereafter be executed affecting the Building or the Office Park, or the land upon which the Building is
situated and (b) the lien of any mortgage (and all advances thereunder) which may now exist or which shall hereafter be executed in any amount affecting the Building, or the Office Park, land,
ground leases or underlying leases, or Landlord's interest or estate in any of said items. In the event that any mortgage is foreclosed or a conveyance in lieu of foreclosure shall be made for any
reason, Tenant shall, notwithstanding any subordination, attorn to the successor in interest to Landlord at the option of such successor in interest. Such successor in interest shall not be
responsible for: (i) curing any existing defaults of Landlord, other than defaults of a continuing nature of which the Lender received notice, and in respect of which Tenant afforded the Lender
a reasonable cure period following such notice, and (ii) any Rent or Additional Rent paid more than one month in advance. Notwithstanding the automatic subordination of this Lease, Tenant shall
execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents evidencing the subordination of this Lease with respect to the lien of any such mortgage.
Tenant hereby irrevocably appoints Landlord as attorney-in-fact of Tenant to execute, deliver and record any such documents in the name of and on behalf of Tenant. Any Lender
shall have the right to subordinate the lien of its mortgage to this Lease by filing a notice of subordination with the Clerk of the Circuit Court for Palm Beach County at any time before Lender
conducts a foreclosure sale pursuant to the mortgage. If a Lender shall request modifications in this Lease as a condition to finance the Building, Tenant will not unreasonably withhold, delay or
defer its consent thereto, provided that such modifications shall neither increase the obligations of Tenant hereunder nor materially and adversely affect Tenant's use and enjoyment of the Premises. 

        16.    RULES AND REGULATIONS.    Tenant shall faithfully observe and comply with the rules and regulations attached to
this Lease as Exhibit "E" and all reasonable modifications thereof and additions thereto which Landlord shall adopt. Landlord shall not be responsible for the
nonperformance by any other Tenant or occupant of the Building of any of the rules and regulations. In the event of an express and direct conflict between the terms, covenants, agreements and
conditions of this Lease and those set forth in the rules and regulations, as modified and amended from time to time by Landlord, this Lease shall control. 

        17.    RE-ENTRY BY LANDLORD.    Landlord shall, at all times, have the right to re-enter the
Premises upon 24 hour advance notice (except in an emergency when no notice will be required), at all reasonable hours to inspect, protect and preserve the same, to supply janitor service and
any other service to be provided by Landlord to Tenant hereunder, to show the Premises to prospective purchasers, mortgagees or tenants, to post notices of nonresponsibility or as otherwise required
or allowed by this Lease or by law, and to alter, improve or repair the Premises and any portion of the Building (including but not limited to another tenant's premises). Landlord may, for the
purposes set forth above, erect, use, and maintain scaffolding, pipes, conduits, and other necessary structures in and 

11

 

through
the Premises where reasonably required by the character of the work which shall be performed in a reasonable time period. Landlord shall not be liable in any manner for any inconvenience,
disturbance, loss of business, nuisance or other damage which shall arise from Landlord's entry and acts pursuant to this Paragraph 17. Tenant shall not be entitled to an abatement or reduction
of Rent if Landlord shall exercise any rights reserved in this Paragraph 17. Tenant hereby waives any claim for damages for any injury or inconvenience to or interference with Tenant's
business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby if completed in a reasonable time period. Tenant shall at all times provide Landlord with a
key with which to unlock all of the doors in, upon and about the Premises, excluding Tenant's vaults and safes, or special security areas (designated in advance), and Landlord shall have the right to
use any and all means which Landlord may deem necessary or proper to open said doors in an emergency, which entry shall not be deemed to be a forcible or unlawful entry into the Premises, or an
eviction, actual or constructive, of Tenant therefrom. Landlord shall also have the right at any time, without the same constituting an actual or constructive eviction and without incurring any
liability to Tenant therefore, upon advance notice and so that it does not materially interfere or impede the operations of the Tenant, to change the arrangement and/or location of entrances or
passageways, doors and doorways, and corridors, elevators, stairs, toilets, or other public parts of the Building and to change the name, number or designation by which the Building or Office Park is
commonly known, or subdivide the Office Park in which the Building is located, declare portions of the Office Park to be condominium(s) or otherwise provide for separate ownership of the Buildings and
common areas within the Office Park. 

        18.    INSOLVENCY OR BANKRUPTCY.    The appointment of a receiver to take possession of all or substantially all of
the assets of Tenant or any guarantor of this Lease, or an assignment by Tenant or any guarantor of this Lease, for the benefit of creditors, or any action taken or suffered by Tenant under any
insolvency, bankruptcy, reorganization or other debtor relief proceedings, whether now existing or hereafter amended or enacted, shall at Landlord's option constitute a default of this Lease by
Tenant. Upon the happening of any such event or at any time thereafter, this Lease shall terminate five (5) days after written notice of termination from Landlord to Tenant. In no event shall
this Lease be assigned or assignable by operation of law or by voluntary or involuntary bankruptcy proceedings or otherwise. 

        19.    DEFAULT.    

        (a)   The
failure by Tenant to perform any covenant or condition made under this Lease shall constitute a default hereunder by Tenant upon expiration of the appropriate grace
period hereinafter provided. Tenant shall have a period of five (5) days from the date a payment of Rent shall have been due within which to cure such default in the payment of Rent. Tenant
shall have a period of twenty (20) days from the date of written notice from Landlord within which to cure any other default (except abandonment and bankruptcy) under this Lease. Upon an
uncured default of this Lease or abandonment as described in Paragraph 28, by Tenant, Landlord shall have the following rights and remedies in addition to any other rights or remedies available
to Landlord at law or in equity: 

          (i)  The
rights and remedies provided Landlords by Chapter 83, Florida Statutes; 

         (ii)  The
right to terminate this Lease by giving notice to Tenant; 

        (iii)  The
right and power, as attorney-in-fact for Tenant, to enter the Premises and remove therefrom all persons and property, to store such
property in a public warehouse or elsewhere at the cost of and for the account of Tenant, and to sell such property and apply such proceeds therefrom. Landlord, as
attorney-in-fact for Tenant, may from time to time sublet the Premises or any part thereof, for the account of Tenant, for such term or terms (which may exceed beyond the Term)
and at such rent and such other terms as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. Upon each such subletting:
(A) Tenant shall immediately pay to Landlord the cost of such subletting, including 

12

 

without
limitation, the payment of brokerage commissions, and the cost of all alterations and repairs which Landlord shall deem necessary in connection with such subletting, and the amount if any, by
which the Rent due hereunder for the period of such subletting (to the extent such period does not exceed the Term) shall exceed the amount which shall be paid as Rent for the Premises for such
period, or (B) at the option of Landlord, rents which shall be received from such subletting shall be applied first to payment of any indebtedness other than Rent due hereunder from Tenant to
Landlord, then to the payment of any costs of such subletting; then to payment of Rent which shall be due and unpaid hereunder, and the balance, if any, shall be held by Landlord and shall be applied
in payment of future Rent as the same shall become due hereunder. If Tenant shall be credited with any rentals which are to be received by such subletting under option (A) above and such
rentals shall not be promptly paid to Landlord by the subtenants, or if such rentals received from such subletting under option (B) above during any month shall be less than that to be paid
during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord upon demand. For all purposes set forth in this Paragraph 19(c)(iii), Landlord is hereby irrevocably
appointed attorney-in-fact for Tenant, with power of substitution. The taking possession of the Premises by Landlord, as attorney-in-fact for Tenant,
shall not be construed as an election on its part to terminate this Lease unless a written notice of such intention shall be given to Tenant. Notwithstanding any such subletting without termination,
Landlord may at any time thereafter elect to terminate this Lease for such previous default, and 

        (iv)  The
right to accelerate all rental due and to become due during the Term. 

        (b)   Notwithstanding
anything to the contrary contained hi this Lease, Landlord shall not be deemed to be in default of this Lease unless Landlord shall fail to perform any
of the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and the holder of any mortgage which shall cover any portion of the Premises, whose
name and address shall have heretofore been furnished to Tenant, which shall specify the various failures of Landlord to perform pursuant to the terms of the Lease. If the nature of Landlord's
obligation is such that more than thirty (30) days shall be required for performance, then Landlord shall not be in default if Landlord shall commence performance within such 30 day
period and thereafter shall diligently prosecute the same to completion. 

        20.    DAMAGE BY FIRE, ETC.    If the Premises or the Building shall be damaged by fire or other casualty, Landlord
shall forthwith repair the same, provided that such repairs can be made within six (6) months after the date of such damage under the laws and regulations of the Federal, state and local
governmental authorities which shall have jurisdiction thereof. In such event, this Lease shall remain in full force and effect except that Tenant shall be entitled to a proportionate reduction of
Rent while such repairs are being made. Such reduction of Rent, if any, shall be based upon the extent to which such damage and the making of such repairs by Landlord shall substantially interfere
with the permitted business which Tenant shall conduct in the Premises. Within twenty (20) days after the date of such damage, Landlord shall notify Tenant whether or not such repairs can be
made within six (6) months after the date of such damage. If Landlord shall determine that a substantial portion of the Premises or the Building shall have been rendered unusable, and such
repairs cannot be made within six (6) months from the date of such damage, Landlord shall have the option within thirty (30) days after the date of such damage either to:
(a) notify Tenant of Landlord's intention to repair such damage, and the date by which such repairs shall be completed, in which event this Lease shall continue in full force and effect and the
Rent shall be reduced as provided herein, provided that if such prospective date of completion of repairs shall be more than nine (9) months from the date of the accident, and other reasonably
alternative space shall not be available to Tenant, then Tenant shall have the option to notify Landlord of its election to terminate this Lease as of the date specified in such notice, or
(b) notify Tenant of Landlord's election to terminate this Lease as of the date specified in such notice. In the event that such notice to terminate shall be given by Landlord or by Tenant,
this 

13

 

Lease
shall terminate on the date specified in such notice. In case of termination by either event, the Rent shall be reduced by a proportionate amount based upon the period of time such damage shall
substantially interfere with the business, which Tenant shall conduct in the Premises, and Tenant shall pay such reduced Rent up to the date of termination. Landlord shall refund to Tenant any Rent
previously paid for any period of time subsequent to such date of termination. The repairs, which Landlord shall make hereunder, shall not include, and Landlord shall not be required to repair, any
damage by fire or other cause to the property of Tenant or any alterations, additions, fixtures or improvements which Tenant shall have installed on the Premises. Notwithstanding any provision
contained herein to the contrary, Tenant shall not be entitled to any reduction or abatement of the Rent if the Premises is damaged by fire or other casualty due to Tenant's fault or neglect, or the
fault or neglect of its servants, employees, contractors, agents, visitors or licensees. 

        21.    EMINENT DOMAIN.    If any part of the Premises shall be taken or appropriated under the power of eminent domain
or conveyed in lieu thereof, either party shall have the right to terminate this Lease at its option. If any part of the Building or the Office Park shall be taken or appropriated under power of
eminent domain or conveyed in lieu thereof, Landlord may terminate this Lease at its option. In either of such events, Landlord shall receive (and Tenant shall assign to Landlord upon demand from
Landlord) any award or any interest therein which may be paid in connection with the exercise of such power of eminent domain, and Tenant shall have no claim against Landlord for any part of the sum
paid by virtue of such proceedings, whether or not attributable to the value of the unexpired term of this Lease. If a part of the Premises shall be so taken or appropriated or conveyed and neither
party hereto shall elect to terminate this Lease and the Premises shall have been materially damaged as a consequence of such partial taking or conveyance, Landlord shall restore the Premises
continuing under this Lease at Landlord's cost and expense, provided, however, that Landlord shall not be required to repair or restore any injury or damage to the property of Tenant or to make any
repairs or restoration to any Alterations which Tenant shall have installed. Thereafter, the Rent which shall be due under this Lease for the remainder of the Term shall be proportionately reduced,
such that thereafter the amounts
to be paid by Tenant shall be in the ratio that the area of the portion of the Premises which shall have been taken bears to the total area of the Premises prior to such taking. 

        22.    SALE BY LANDLORD.    In the event of a sale or conveyance by Landlord of the Building, the Office Park, or any
portion thereof, any such sale or conveyance shall operate to release Landlord from any future liability upon any of the covenants or conditions, express or implied, herein contained, and in such
event Tenant shall look solely to the successor in interest of Landlord in and to this Lease. This Lease shall not be terminated by any such sale and Tenant shall attorn to the purchaser or assignee. 

        23.    RIGHT OF LANDLORD TO PERFORM.    All covenants and agreements to be performed by Tenant under any of the terms
of this Lease shall be performed by Tenant at Tenant's sole cost and expense and without any abatement of Rent. If Tenant shall fail to pay any sum of money, other than Rent, which it shall be
required to pay hereunder or if it shall fail to perform any other act on its part to be performed hereunder, and such failure shall continue for ten (10) days after notice thereof by Landlord,
Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant from any obligations of Tenant, make any such payment or perform any such act on Tenant's part to be made or
performed as provided in this Lease. All such sums which Landlord shall pay and all necessary incidental costs together with interest thereon at the maximum rate permitted by law, from the date of
such payment by Landlord shall be payable as Additional Rent to Landlord on demand. 

        24.    SURRENDER OF PREMISES.    At the end of the Term or any renewal thereof or other sooner termination of this
Lease, Tenant will peaceably deliver to Landlord possession of the Premises, together with all improvements or additions upon or belonging to the same in good order and condition, allowing for
reasonable wear and damage by fire or other casualty. Tenant shall, upon the termination of this Lease, remove all movable furniture and equipment which shall belong to Tenant, at 

14

 

Tenant's
sole cost, provided that Tenant shall repair any damage which shall be caused by such removal. Property not so removed shall be deemed abandoned by Tenant and title to the same shall
thereupon pass to Landlord, at its option. Upon request by Landlord, Tenant shall promptly remove, at Tenant's sole cost, any or all Alterations to the Premises not previously approved by Landlord and
shall promptly repair any damage, which shall result from such removal. 

        25.    WAIVER.    If Landlord shall waive the performance of any term, covenant or condition contained in this Lease,
such waiver shall not be deemed to be a waiver of any subsequent default of the same or any other term, covenant or condition contained herein. Furthermore, the acceptance of Rent or a partial payment
of same by Landlord shall not constitute a waiver of any preceding default by Tenant of any term, covenant or condition of this Lease, regardless of Landlord's knowledge of such preceding breach at
the time Landlord shall accept such Rent, nor a waiver of the right to receive full payment of the Rent, nor shall any endorsement or statement on any check or letter accompanying any payment of rent
be deemed an accord and satisfaction, and Landlord may accept such payment without prejudice to Landlord's right to recover the balance of such Rent or pursue any other remedy. Failure by
Landlord to enforce any of the terms, covenants or conditions of this Lease for any length of time shall not be deemed to waive or to decrease the right of Landlord to enforce same at any time or from
time to time during the term of this Lease. The waiver by Landlord of any term, covenant or condition contained in this Lease may only be made by a written document signed by Landlord. 

        26.    NOTICES.    Except as otherwise expressly provided in this Lease, any communications given or required to be
given under this Lease shall be effective only if rendered or given in writing, sent by registered or certified mail or delivered personally, (a) to Tenant (i) at Tenant's address set
forth in the Basic Lease Information, if sent prior to Tenant's taking possession of the Premises, or (ii) at the Premises if sent subsequent to Tenant's taking possession of the Premises, or
(iii) at any place where Tenant may be found if sent subsequent to Tenant's vacating, abandoning or surrendering the Premises, or (b) to Landlord at Landlord's address set forth in the
Basic Lease Information, or (c) to such other address as either Landlord or Tenant may designate as its new address for such purpose by notice given to the other in accordance with the
provisions of this Paragraph 26. Any such bill, statement, notice, demand, request or other communication shall be deemed to have been rendered or given two (2) days after the date when
it shall have been mailed as provided in this Paragraph 26 if sent by registered or certified mail, or upon the date personal delivery is made. If Tenant is notified of the identity and address
of Landlord's mortgagee Tenant shall give to such mortgagee notice of any default by Landlord under the terms of this Lease in writing sent by registered or certified mail, and such mortgagee shall be
given a reasonable opportunity to cure such default prior to Tenant exercising any remedy which might be available to it. 

        27.    TAXES PAYABLE BY TENANT.    

        (a)   At
least ten (10) days prior to delinquency, Tenant shall pay all taxes levied or assessed upon Tenant's equipment, furniture, fixtures and other personal
property located in or about the Premises. 

        (b)   Tenant
shall pay to Landlord, upon written demand, such portion of all Real Estate Taxes levied or assessed against Landlord, which are attributable to the value of the
Tenant improvements installed in the Premises in excess of the value of the Standard Improvements for the Premises. 

        (c)   Tenant
shall pay any and all sales, excise or other taxes or impositions in lieu thereof due unto the State of Florida or other governmental authority upon the Rent and
other sums payable by Tenant hereunder. 

        28.    ABANDONMENT.    Tenant shall assume possession of the Premises at the commencement of the Term and shall not
vacate or abandon the Premises at any time during the Term. If Tenant shall abandon, vacate or surrender the Premises or shall be dispossessed by process of law, or otherwise, any 

15

 

personal
property which shall belong to Tenant and which shall be left on the Premises shall, at the option of Landlord, be deemed to be abandoned and title thereto shall pass to Landlord. 

        29.    SUCCESSORS AND ASSIGNS.    Subject to the provisions of Paragraph 9, the terms, covenants and conditions
contained herein shall be binding upon and inure to the benefit of the parties hereto and their respective legal and personal representatives, successors and assigns. 

        30.    ATTORNEYS' FEES.    If Landlord shall bring any action for damages or relief against Tenant, declaratory or
otherwise, arising out of this Lease, including any suit by Landlord for the recovery of Rent or possession of the Premises, and if Landlord shall be the prevailing party, Tenant shall pay to Landlord
a reasonable sum for attorneys' fees. 

        31.    LIGHT, AIR, AND OTHER STRUCTURES.    Tenant covenants and agrees that no diminution of light, air or view or
other use rights including but not limited to uncovered parking spaces by any structure which may hereafter be erected (whether or not by Landlord) shall entitle Tenant to any reduction of rent under
this Lease, shall result in any liability of Landlord to Tenant, or shall in any other way affect this Lease or Tenant's obligations hereunder. This Lease does not grant any rights, including but
limited to rights to light, air, or view over property adjacent, adjoining, or contiguous to the land on which the Premises are located. 

        32.    SECURITY DEPOSIT.    Concurrently with Tenant's execution of this Lease, Tenant shall pay to Landlord, the sum
specified in the Basic Lease Information, which sum shall be held by Landlord as a security deposit for the faithful performance by Tenant of all the terms, covenants and conditions of this Lease to
be kept and performed by Tenant. Tenant agrees that Landlord may apply the security deposit to remedy any failure by Tenant to repair or maintain the Premises or to perform any other terms, covenants
and conditions contained herein. If Tenant shall perform all terms, covenants and conditions of this Lease during the Term, Landlord will, within thirty (30) days after the termination hereof,
return the security deposit to Tenant. If Landlord shall use any portion of the security deposit to cure any default by Tenant hereunder, Tenant shall within ten (10) days of written demand by
Landlord replenish the security deposit to the original amount and Tenant's failure to do so shall be a material default of this Lease. Landlord shall not be required to keep the security deposit
separate from its general funds and Tenant shall not be entitled to interest on any such deposit. Upon the occurrence of any events of default described in Paragraph 19 of this Lease the
security deposit shall become due and payable to Landlord to the extent required to compensate Landlord for damages incurred, or to reimburse Landlord as provided herein, in connection with any such
event of default. 

        33.    CORPORATE AUTHORITY; FINANCIAL INFORMATION.    If Tenant shall be a partnership or corporation, all of the
persons which shall have executed this Lease on behalf of Tenant hereby warrant that Tenant is a duly authorized and existing partnership or corporation, that Tenant has and is authorized to do
business in Florida, that Tenant has full right and authority to enter into this Lease, and that all of the persons signing on behalf of Tenant were authorized to do so. Upon Landlord's request,
Tenant shall provide Landlord with evidence reasonably satisfactory to Landlord confirming the foregoing warranties. Tenant further warrants to Landlord that all financial information and other
descriptive information regarding Tenant's business, which has been or shall be furnished to Landlord, is and shall be accurate and complete. Upon the written request of Landlord at any time during
the Term, Tenant shall provide Landlord with updated financial information on itself or on any guarantor of this Lease. 

        34.    PARKING.    Tenant shall have the right to use in common with other tenants or occupants of the Office Park the
parking facilities of the Building, subject to the rules and regulations of Landlord for such parking facilities, which Landlord may establish or alter at any time or, from time to time during the
Term. 

16

 

        35.    MISCELLANEOUS.    

        (a)   The
term "Premises" wherever it appears herein shall include (except where such meaning would be clearly repugnant to the context) the office space demised and
improvements now or at any time hereinafter comprising or built in the space hereby demised. The paragraph headings herein are for convenience of reference and shall in no way define, increase, limit
or describe the scope or intent of any provision of this Lease. The term "Landlord" shall include Landlord and its successors and assigns. In any case where this Lease is signed by more than one
person or entity, the obligations hereunder shall be joint and several. The term "Tenant" or any pronoun used in place thereof shall include the permitted successors and assigns of the Tenant,
according to the context hereof. 

        (b)   Time
is of the essence of this Lease and all of its provisions. This Lease shall in all respects be governed by the laws of the State of Florida. This Lease, together
with its exhibits, contains all the agreements of the parties hereto and supersedes any previous negotiations. There have been no representations made by Landlord or understandings made between the
parties other than those set forth in this Lease and its exhibits. This Lease may not be modified except by a written instrument by the parties hereto. 

        (c)   If
for any reason whatsoever any of the provisions hereof shall be unenforceable or ineffective, all of the other provisions shall remain in full force and effect. 

        (d)   If
Tenant shall pay the Rent and perform all of its obligations under this Lease, Tenant may peacefully and quietly enjoy the Premises during the Term subject, however,
to the provisions of this Lease and to any mortgages or ground or underlying leases referred to in Paragraph 15. 

        (e)   If
a building directory shall be used during the term of this Lease, Landlord shall furnish Tenant with one listing therein at no charge. Tenant shall agree to pay
additional charges for extra listing, or for changes in the form or content of the initial listing in the building directory. 

        (f)    Nothing
contained in this Lease shall be deemed to make the Lessor a partner or joint venturer with Landlord nor shall Landlord be liable for any debts incurred by
Tenant in the conduct of its business. The relationship to the parties during the Term shall at all times be that of landlord and tenant. 

        36.    REAL ESTATE BROKERS.    Except for Navarro Lowrey Properties, Inc. and Linda A. Gary Real
Estate, Inc. (both to be paid by Landlord under a Separate Agreement) each party represents that it has not had dealings with any other real estate brokers, finders or other persons with
respect to this Lease in any manner. Tenant shall hold harmless Landlord for all damages, expenses and fees, including without limitation attorneys' fees, resulting from any claims that may be
asserted against Landlord by any other broker, finder or other person with whom Tenant has or purportedly has dealt. 

        37.    RECORDING.    Tenant shall not record this Lease, or any portion or any reference hereto. If Tenant shall
record this Lease, or shall permit or causes this Lease, or any portion hereof or reference hereto to be recorded, this Lease shall terminate at Landlord's option or Landlord may declare a default
hereunder and pursue any and all of its remedies provided in this Lease. 

        38.    SUBMISSION TO CONDOMINIUM.    Landlord may, at any time, submit the Building and/or the remainder of the Office
Park, or any portion thereof, to the condominium form of ownership. This Lease shall at all times be subject to and subordinate to any such condominium regime. No further instrument to evidence such
subordination shall be required, nor shall joinder in such condominium documentation be required. Tenant hereby appoints Landlord as Tenant's attorney-in-fact to execute any
and all documents necessary to effectuate or implement the condominium form of ownership. Tenant's right to acquire possession of the Premises shall not be disturbed by reason of the condominium
regime, so long as Tenant shall not be in default of this Lease. Condominium association charges or assessments applicable to the Premises shall constitute part of the 

17

 

Expenses.
Notwithstanding the automatic subordination of this Lease to the condominium regime, Tenant shall execute, from time to time, upon the written request of Landlord, such joinders, consents
and subordinations the condominium regime as Landlord shall reasonably request. 

        40.    HAZARDOUS SUBSTANCES.    

        (a)   The
term "Hazardous Substances", as used in this Lease, shall include, without limitation, flammables, explosives,
radioactive materials, asbestos, polychlorinated bipheyls (PCB's), chemicals known to cause cancer or reproductive toxicity, pollutants, contaminants, hazardous wastes, toxic substances or related
materials, petroleum and petroleum products and substances declared to be hazardous or toxic under any law or regulation now or hereafter enacted or promulgated by any government authority. 

        (b)   Tenant's
Restriction: Tenant shall not cause or permit to occur: 

        1.     Any
violation of any federal, state or local law, ordinance, or regulation now or hereafter enacted, related to environmental conditions on, under or about the Premises
or the Building or arising from Tenant's use or occupancy of the Premises, including but not limited to, soil and ground water conditions (all such laws, ordinances and regulations are hereinafter
called "Environmental Laws"); or 

        2.     The
use, generation, release, manufacture, refining, production, processing, storage or disposal of any Hazardous Substance without Landlord's prior written consent,
which consent may be withdrawn, conditioned or modified by Landlord in its sole and absolute discretion in order to insure compliance with all applicable Environmental Laws, as such Environmental Laws
may be enacted or amended from time to time. No such action by Landlord and no attempt by Landlord to mitigate damages under any Environmental Law shall constitute a waiver of any of Tenant's
obligations or Landlord's rights under this Section 40. 

        (c)   Tenant's
Affirmative Covenants: 

        1.     Tenant
shall, at Tenant's own expense, comply with all Environmental Laws. 

        2.     Tenant
shall, at Tenant's own expense, make all submissions to provide all information required by and comply with all requirements of all governmental authorities.
Tenant shall give written notice to Landlord within three (3) business days after the date on which Tenant learns or first has reason to believe that; (i) there has or will come to be
located on or about the Premises any Hazardous Substance, the production, transportation, storage, use or handling of which requires a permit or license from any federal, state or local governmental
agency; (ii) any release, discharge or emission of any Hazardous Substance has occurred on or about the Premises or the Building; (iii) any enforcement, cleanup, removal or other
governmental or regulatory action has been threatened or commenced against Tenant or with respect to the Premises or the Building pursuant to any Environmental Laws; (iv) any claim has been
made or threatened by any person or entity against Tenant, the Premises or the Building on account of any alleged loss or injury claimed to result from the alleged presence or release
on the Premises of any Hazardous Substances; or (v) any report, notice, or complaint has been made to or filed with any governmental agency concerning the presence, use or disposal of any
Hazardous Substances on the Premises. Any such notice shall be accompanied by copies of any such claim, report, complaint, notice, warning or other communication that is in the possession of or is
reasonably available to the Tenant. 

        Any
notice required under this Section shall be accompanied by (i) a copy of all permits, licenses, proofs of disclosure to governmental agencies pertaining to Hazardous
Substances that have not previously been furnished to Landlord; and (ii) copies of any Material Safety Data Sheets pertaining to such substances that are required by applicable law. 

18

 

        3.     Should
any governmental authority or any third party demand a cleanup plan be prepared or undertaken because of any deposit, spill, discharge or other release of
Hazardous Substances that occurs during this Term, at or from the Premises or which arises at any time from Tenant's use or occupancy of the Premises, Tenant shall, at Tenant's own expense, prepare
and submit the required plans and all related bonds and other financial assurances and Tenant shall carry out all such cleanup plans. 

        Except
in emergencies or as otherwise required by Environmental Law, Tenant shall not take any remedial action in response to the presence or release of any Hazardous Substances on or
about the Premises or the Building without first giving written notice of the same to Landlord and affording Landlord the opportunity to review same to insure that Tenant's anticipated actions are
contemplated so as to minimize any adverse affects on the operation of the Building. 

        Tenant
shall not enter into any settlement, agreement, consent decree or other compromises with respect to any claims relating to any Hazardous Substances in any way connected with the
Premises without first notifying Landlord of Tenant's intention to do so and affording Landlord the opportunity to participate in any such proceedings. 

        4.     Tenant
shall promptly provide all information regarding the use, generation, storage, transportation or disposal of Hazardous Substances requested by Landlord. If Tenant
fails to fulfill any duty imposed under this Section 40 within thirty (30) days following Landlord's request, of if Landlord deems Tenant's activities to be insufficient to protect the
Building or will have an adverse impact on the Building, then Landlord may proceed with such efforts and in such case, Tenant shall cooperate with Landlord in order to prepare all documents Landlord
deems necessary or appropriate to determine the applicability of the Environmental Laws to the Premises and Tenant's use thereof and for compliance therewith and Tenant shall execute all documents
promptly upon Landlord's request and any expenses incurred by Landlord shall be payable by Tenant as Rent. No such action by Landlord and no attempt by Landlord
to mitigate damages under any law shall constitute a waiver of any of Tenant's obligations on Landlord's rights under this Section 40. 

        5.     Upon
the expiration or earlier termination of the Term, Tenant shall (i) cause all Hazardous Substances previously owned, stored or used by Tenant to be removed
from the Premises and disposed of in accordance with applicable provisions of law; (ii) remove any aboveground or underground storage tanks or other containers installed or used by Tenant to
store any Hazardous Substances on the Premises, and repair any damage to the Premises caused by such removal; (iii) cause any soil or other portion of the Building or the Premises which has
become contaminated by any Hazardous Substances stored or used by Tenant on the Premises to be decontaminated, detoxified or otherwise cleaned up in accordance with all Environmental Laws; and
(iv) surrender possession of the Premises to Landlord free of contamination attributable to Hazardous Substances generated or used by Tenant or stored or disposed of by any party other than
Landlord in or on the Premises during the term of this Lease. 

        (d)   Tenant
shall indemnify, defend with counsel acceptable to Landlord, and hold Landlord free and harmless from any and all liabilities, damages, claims, penalties, fines,
settlements, causes of action, costs or expense, including reasonable attorneys' fees, environmental consultant and laboratory fees and the costs and expense of investigating and defending any claims
or proceedings, resulting from or attributed to (i) the presence, disposal, release or threatened release of any Hazardous Substance that is on, from or affecting the Premises including the
soil, water, vegetation, buildings, personal property, persons, animals, or otherwise; (ii) any personal injury (including wrongful death) or property damage (real or personal) arising out of
or relating to the Hazardous Substances; and (iii) any lawsuit or administrative order relating to the Hazardous Substances, or any violation of any laws applicable to the Hazardous Substances
for which Tenant is responsible. Tenant's indemnification obligations as set forth herein shall survive the expiration or earlier termination of this Lease. 

19

 

        41.    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. 

        42.    WAIVER OF JURY TRIAL.    Landlord and Tenant hereby waive any right to a trial by jury which either or both of
them have or might have with respect to any controversy arising out of this Lease, Premises, the Building and the Office Park. 

        43.    QUIET ENJOYMENT.    Upon Tenant's paying the Rent and Additional Rent and performing all of Tenant's
obligations under this Lease Agreement, Tenant may peacefully and quietly enjoy the Premises during the Lease Term as against all persons or entities lawfully claiming by or through Landlord. 

        44.    FINANCIAL INFORMATION.    Tenant has delivered to Landlord the financial statements attached hereto as
Schedule 2 (the "Financial Statements") in order to induce Landlord to enter into this Lease Agreement. Tenant and Sean Heyniger, individually, hereby warrant and represent to Landlord that the
Financial Statements are true and accurate in all material respects. Tenant and Sean Heyniger intend that Landlord will rely on the accuracy of the Financial Statements and agree to indemnify Landlord
for any loss, damage or liability incurred by Landlord as a result of any material misstatements of fact contained in the Financial Statements. Sean Heyniger has executed this Lease Agreement solely
for the purpose of making the representations and warranties contained in this paragraph 44. 

20

 

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

	Signed, sealed and delivered in the presence of:	 	TENANT:
	

 	
 	

PHYSICIANS DIAGNOSTIC SERVICES, LLC, authorized to transact business in Florida
	

 	
 	

By:	
 	

/s/ Shane Thompson

	/s/ Michael Makinster
	 	Print Name:	 	Shane Thompson

	 	 	Its:	 	 
	 	 	 	 	

	Michael Makinster
 (As to Tenant)	 	 	 	 
	

 	
 	

LANDLORD:
	

 	
 	

NAVARRO LOWREY, L.P.—CENTREPARK PLAZA I PARTNERS SERIES, a Delaware limited partnership authorized to transact business in Florida as Navarro Lowrey, Ltd.—Centrepark Plaza I Partners Series
	

 	
 	

By:	
 	

NAVARRO LOWREY, INC. a Delaware corporation, Its General Partner
	

/s/ [ILLEGIBLE]
	
 	

By:	
 	

/s/ Frank Navarro
 Frank Navarro
	 	 	Its:	 	President
	/s/ [ILLEGIBLE]
 (As to Landlord)	 	 	 	 
	

 	
 	

 	
 	

 
	 	 	 	 	 
	 	 	

	 	 	Print Name:	 	 
	 	 	 	 	

	 	 	As to Paragraph 44 of this Lease

21

   EXHIBIT "A"  

"[MAP]"  

1

   EXHIBIT "B"  

INTENTIONALLY DELETED  

1

   EXHIBIT "C"  

INTENTIONALLY DELETED  

1

   EXHIBIT "D"  

INTENTIONALLY DELETED.  

1

   EXHIBIT "E"  

 CERTIFICATE OF TENANT  

        NAVARRO LOWREY, L.P.—CENTREPARK PLAZA I PARTNERS SERIES, a Delaware limited partnership authorized to transact business in Florida as Navarro
Lowrey, Ltd.—Centrepark Plaza I Partners Series ("Landlord") is under contract to sell Centrepark Plaza—Phase I ("Property")
to                        , or its permitted
assignee ("Purchaser"). In connection with the purchase and sale of the Property, Tenant acknowledges that its lease as defined below ("Lease") will be assigned to and assumed by Purchaser. The
undersigned, Tenant, hereby certifies to Landlord and Purchaser, and their respective successors and assigns that as of this date,
                        ,            , the following is true:

	1A.	 	Premises:	 	            rentable square feet located at Suite            in Centrepark Plaza—Phase I, City
of West Palm Beach, County of Palm Beach, State of Florida
	

B.	
 	

Tenant:	
 	

 
	 	 	 	 	

	

C.	
 	

Notice Address:	
 	

 
	 	 	 	 	

	

D.	
 	

Lease:	
 	

 
	 	 	 	 	

	

 	
 	

Lease Dated:	
 	

 
	 	 	 	 	

	

 	
 	

Lease Amendment:	
 	

 
	 	 	 	 	

	

E.	
 	

Copy of Lease: A true, correct and complete copy of the Lease and all amendments or modifications thereto is attached to this Certificate.
	

2A.	
 	

Tenant has accepted possession of the Premises pursuant to the Lease. The Lease term commenced on            . The termination date of the Lease, excluding renewals and extensions,
is            .
	

B.	
 	

Tenant has no right to renew or extend the term, except as follows:
	

 	
 	

(list renewal options or none)
	

3.	
 	

The Lease is valid and in full force and effect and neither the Landlord or the Tenant is in default under the Lease. Tenant has no defense, setoff or counterclaim against Landlord arising out of any other transaction between Tenant and Landlord, and
no event has occurred and no condition exists which will constitute a default, by either Tenant or Landlord, under the Lease.
	

4.	
 	

The Lease has not been assigned, modified, supplemented or amended in any way. The Lease constitutes the entire agreement between the parties and there are no other agreements between Landlord and Tenant concerning the Premises except those listed
above.
	

5.	
 	

Any improvements required by the terms of the Lease to be made by Landlord have been completed; all allowances or reimbursements payable to Tenant under the Lease have
been                paid in full. Landlord has satisfied any and all commitments made to Tenant to induce Tenant to enter into the Lease.
	

6.	
 	

No rent or other sum payable under the Lease has been paid more than one month in advance.
	

7.	
 	

Full rental is currently accruing under the Lease. The minimum monthly rent presently payable under the Lease is $                  . The monthly CAM charges
payable by the Tenant under the Lease are $                  . The monthly real estate taxes payable by the Tenant under the Lease are
$                  .
	 	 	 	 	 

1

 

	

8.	
 	

Rent has been paid through            , The next rental payment is            ,
200            .
	

9.	
 	

The Landlord is presently holding a security deposit of $                  .
	

10.	
 	

The Lease contains and Tenant has:
	

 	
 	

A.    No exclusive use rights.
	

 	
 	

B.    No Rights of First Refusal, Rights of First Offer or Options to Purchase.
	

 	
 	

C.    No other restrictive covenants or special conditions or exceptions.
	

 	
 	

D.    No outstanding Landlord concessions due.
	

11.	
 	

No actions, whether voluntary or otherwise, are pending against the Tenant or any general partner of the Tenant under the bankruptcy laws of the United States or any state thereof.
	

12.	
 	

The Tenant is the sole owner of the entire leasehold interest under the Lease and has not sublet the Premises in whole or in part to any sublessee, has not assigned any of its rights under the Lease nor pledged or mortgaged the Lease or any interest
therein. No one except the Tenant and its employees occupies the Premises.
	

13.	
 	

Tenant has not generated, used, stored, spilled, disposed of or released any flammable, explosive, toxic, carcinogenic, or corrosive substances other than pre-packaged office supplies or cleaning materials.

Furthermore,
upon written notice from Landlord of the sale to Purchaser, Tenant will thereafter pay Rent and other charges under the Lease to Purchaser in accordance with the terms of the Lease. This
Certificate shall be assigned by Landlord to Purchaser upon closing of such purchase. Tenant has read this Certificate, understands the certifications and representations made herein and certifies
them to be true and correct. Tenant executes this Certificate intending reliance hereon by Landlord and Purchaser and acknowledges that the certifications and representations made herein shall survive
the acquisition of the Premises by Purchaser. 

	TENANT:	 	 	 	 
	 	 	

	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

	 	 	Date:	 	 
	 	 	 	 	

2

   EXHIBIT "F"  

 RULES AND REGULATIONS  

        BUILDING RULES AND REGULATIONS.    Tenant and its employees, agents, licensees and invitees shall faithfully observe and comply
with the following Rules and Regulations and all reasonable modifications or any additions thereto from time to time put into effect by Landlord. Landlord shall not be responsible to Tenant for the
non-performance of any said Rules and Regulations by any other tenant or occupant of the Building. 

        1.    Advertising.    Landlord shall have the right to prohibit any advertising by Tenant on the Premises, which tends
to impair the reputation of the Building or its desirability as an office building, and upon written notice from Landlord, Tenant promptly shall refrain from or discontinue such advertising. 

        2.    Bicycles, Animals.    Tenant shall not bring any animals or birds into the Building, and shall not permit any
type of vehicle including bicycles, inside or on the sidewalks outside the Building except in areas designated from time to time by Landlord for such purposes. 

        3.    Dangerous or Immoral Activities.    Tenant shall not make any use of the Demised Premises, which involves the
danger of injury to person or property, nor shall the same be used for any immoral use. 

        4.    Loading, Unloading and Moving.    All loading and unloading of goods shall be done only at the times, in the
areas, and through the entrances designated for such purposes by Landlord. Landlord accepts no liability and Tenant hereby releases Landlord of all liability with respect to the operation of delivery
facilities for the Building, or the adequacy thereof, or of the acts or omissions of any person or persons engaged in the operation thereof, or in the acceptance, holding, handling or dispatch, or any
error, negligence or delay therein. 

        5.    Obstructions.    Tenant shall not obstruct or place anything in or on the sidewalks or driveways outside the
Building or in the lobbies, corridors, stairwells or other common areas of the Building, or use such locations for any purpose except access to and exit from the Demised Premises without Landlord's
prior written consent. Landlord may remove at Tenant's expense any such obstruction or item (unauthorized by Landlord), without notice or obligation to Tenant. Additionally, Tenant shall not permit
its employees, agents, invitees, or customers to loiter, sleep, assemble or congregate within any common areas or grounds of the Building. Tenant shall not obstruct any of the access easements, which
run across the property to serve the neighboring property. 

        6.    Odors.    Tenant shall not permit any odors of cooking or other processes, or any unusual or other objectionable
odors to permeate in or emanate from the Demised Premises. 

        7.    Proper Conduct.    Tenant, its employees and invitees, shall not conduct themselves in any manner which is
inconsistent with the character of the Building as a first quality Building or which will impair the comfort and convenience of other tenants in the Building. 

        8.    Personal Use of Premises.    The Demised Premises shall not be used or permitted to be used for residential,
lodging or sleeping purposes, or for the storage of personal effects or property not required for business purposes. 

        9.    Refuse.    Tenant shall place all refuse in proper receptacles provided by Tenant at its expense in the Demised
Premises, or in receptacles (if any) provided by Landlord for the Building, and shall keep sidewalks and driveways outside the Building, and lobbies, corridors, stairwells, ducts and shafts of the
Building free of all refuse. 

        10.    Solicitations.    Landlord reserves the right to prohibit canvassing, soliciting or peddling in the Building
but shall not be in any manner liable for any such acts within or about the Building. 

1

 

        11.    Water Fixtures.    Tenant shall not use water fixtures for any purpose for which they are not intended, nor
shall water be wasted by tampering with such fixtures. Any cost or damage resulting from such misuse by Tenant shall be paid for by Tenant. 

        12.    Windows.    The Tenant acknowledges the importance of the exterior glass to the architectural integrity of the
Building; and agrees to observe Landlord's rules with respect to maintaining at all windows in the Demised Premises so that the Building presents a uniform exterior appearance. 

        13.    Wires.    No wires of any kind or type (including but not limited to T.V. and radio antennas) shall be attached
to the outside of the Building and no wires shall be run or installed in any part of the Building without Landlord's prior written consent which consent shall not be unnecessarily withheld. 

        14.    Locks.    In the event Tenant installs locks incompatible with the Building's master locking system: 

        (a)   Landlord
without abatement of Rents, shall be relieved of any obligation to provide any service whatsoever to areas so restricted when locked. 

        (b)   Tenant
shall indemnify Landlord against any expenses as a result of forced entry into any areas so restricted, which may be required in an emergency. 

        (c)   Tenant
shall at the end of the term remove such locks at Tenant's expense. 

        15.    Noise.    No loudspeakers, televisions, phonographs, radio, or other devices shall be used in a manner so as to
be heard or seen outside of the leased property without Landlord's prior written consent. 

        16.    Parking.    Tenant and its employees shall park their cars only in those portions of the parking area
designated for that purpose by Landlord. Tenant shall furnish Landlord with automobile license numbers assigned to Tenant's cars or those of its employees within five (5) days after taking
possession of the leased property and shall thereafter notify Landlord of any changes within five (5) days after such changes occur. If Tenant or its employees fail to park their cars in the
designated parking areas, Landlord may charge Tenant $10 per day per car parked in any area other than those designated, as and for liquidated damage. 

        17.    Plumbing.    The plumbing facilities shall not be used for any other purpose other than that for which they are
constructed, and no foreign substance of any kind shall be deposited therein. Tenant shall bear the expense of any breakage, stoppage, or damage resulting from any violation of this provision by
Tenant or its employees, agents, or invitees. 

        18.    Surrender.    Upon the expiration or other termination of the term of this lease, Tenant shall quit and
surrender to Landlord the leased property broom clean, in good order and condition, ordinary wear expected. 

        19.    No Smoking.    No smoking of any tobacco products shall be permitted within any portion of the Building. 

2

GUARANTY  

        FOR VALUE RECEIVED and in consideration for and as an inducement to NAVARRO LOWREY, L.P.—CENTREPARK PLAZA I PARTNERS SERIES, a Delaware limited
partnership authorized to transact business in Florida as Navarro Lowrey, Ltd.—Centrepark Plaza I Partners Series ("Landlord")
entering into that certain Lease Agreement dated            , 200            , with PHYSICIANS DIAGNOSTIC SYSTEMS, LLC,
("Tenant"), the
undersigned, on behalf of himself, his legal representatives, heirs, successors and assigns, as principal and not as a surety, absolutely and unconditionally guarantees to Landlord, Landlord's
successor and assigns, the full performance and observance of all the provisions therein provided to be performed and observed by Tenant, without requiring any notice of non-payment,
non-performance, or non-observance, or proof, or notice, or demand, whereby to charge the undersigned therefore, all of which the undersigned hereby expressly waives and
expressly agrees that the validity of this agreement and the obligations of the guarantor hereunder shall not be terminated, affected or impaired by reason of the assertion by Landlord against Tenant
of any of the rights or remedies reserved to Landlord pursuant to the provisions of the within Lease. The undersigned further covenants and agrees that this guaranty shall remain and continue in full
force and effect as to any renewal, modification, extension, assignment or sublease of this Lease. AS A FURTHER INDUCEMENT TO LANDLORD TO APPROVE THE LEASE AND IN CONSIDERATION THEREOF, LANDLORD AND
THE UNDERSIGNED AGREE THAT IN ANY ACTION OR PROCEEDING BROUGHT BY EITHER LANDLORD OR THE UNDERSIGNED AGAINST THE OTHER ON ANY MATTERS WHATSOEVER ARISING OUT OF, UNDER, OR BY VIRTUE OF THE TERMS OF
THIS LEASE OR OF THIS GUARANTY, THAT LANDLORD AND THE UNDERSIGNED SHALL AND DO HEREBY WAIVE TRIAL BY JURY. In the event Landlord incurs any expenses in the enforcement of this guaranty, whether legal
action be instituted or not, the undersigned agrees to be liable for same (including reasonable attorney's fees and costs) and to pay same promptly on demand by Landlord. The undersigned waives any
right of indemnification or right of subrogation that the undersigned may have against Tenant until such time as Landlord has received payment in full of any and all obligations of Tenant under the
Lease. 

Notwithstanding
provisions of this Guaranty to the contrary and provided Tenant is not in default of the Lease Agreement, this Guaranty shall expire and be of no further force or effect after
August 31, 2003. 

	WITNESSES:	 	GUARANTOR: Sean Heyniger
	

/s/ Michael Makinster
	
 	

By:	
 	

/s/ Shane Thompson

	Print Name:	 	Michael Makinster
	 	Print Name:	 	Shane Thompson

	/s/ Nancy E. Brown	 	Its:	 	Director Clinical OPS.
	
	 	 	 	

	Print Name:	 	Nancy E. Brown
	 	 	 	 

SCHEDULE 1

BASIC LEASE INFORMATION  

Lease
Date:    11/14/2001 

	Landlord:	 	CENTREPARK PLAZA I PARTNERS SERIES OF NAVARRO LOWREY, L.P., a Delaware limited partnership authorized to transact business in Florida as Centrepark Plaza I Series of Navarro Lowrey, Ltd.
	 	 	 

	Managing Agent:	 	Navarro Lowrey Properties	 	 
	Landlord's and Managing Agent's Address:	 	Mr. Frank Navarro
	 	 	Corporate Center

1475 Centrepark Boulevard, Suite 100

West Palm Beach, Florida 33401	 	Centrepark Plaza I Partners

301 S College St Ste 2580

Charlotte, North Carolina,28202
	 	 	 	 	 

	Tenant: Physicians Diagnostic Services, LLC
	Tenant's Address:	 	(For Notice)	 	(For Billing)
	 	 	Fill in this info

1514 Rock Quarry Rd

Stockbridge, GA 30281	 	[SAME]
	 	 	 	 	 

	Premises:	 	 
	 	Building:	 	Plaza I at Centrepark, 1801 Centrepark Drive East, West Palm Beach, FL 33401
	 	Suite/Floor:	 	Suite 110,
	 	Area:	 	Approximately 2,402 rentable square feet
	 	Parking Spaces:	 	Tenant shall have the use, free of charge and on a non-exclusive basis, of up to 4 parking spaces per 1,000 rentable square feet.

Tenant's
Permitted Use of the Premises: General office use for monitoring of diagnostic computer software. 

Lease
Term: 5 (five) years, commencing September 1, 2001 and expiring August 31, 2006. 

Annual
Base Rent: 

	Year
	 	Annual Base Rent
	 	Monthly Base Rent

	1	 	$	33,387.80	 	$	2,782.32
	2	 	$	35,057.19	 	$	2,921.43
	3	 	$	36,810.05	 	$	3,067.50
	4	 	$	38,650.55	 	$	3,220.88
	5	 	$	40,583.08	 	$	3,381.92

Tenant's
Share of Expenses and Taxes ("Additional Rent"): RSF 2,402/ (40,077 × 95%) = 6.31%. 

Security
Deposit: $5,600.00. 

Guarantor
of Lease: Sean Heyniger 

Amount
due from Tenant upon the execution of this Lease: 

	1.	 	First Month's Rent plus sales tax

(Base: $2,782.32, Additional: $1,221.02, Sales Tax: $240.20)	 	$	4,243.53
	2.	 	Security Deposit	 	$	5,600.00
	 	 	 	 	

	 	 	TOTAL	 	$	9,843.53

Tenant's
Required Liability Insurance with Minimum Policy Limits: $1,000,000.00 

The
foregoing information (herein referred to as "Basic Lease Information") is hereby incorporated into and made a part of this Lease. Each reference in this Lease to any of the Basic Lease
Information shall mean the respective information hereinabove set forth and shall be construed to incorporate all of the terms provided under the particular Lease paragraph pertaining to such
information. In the event of any conflict between any Basic Lease Information and the Lease, the latter shall control. 

AMENDMENT NO. 1

TO

LEASE AGREEMENT  

        THIS AMENDMENT NO. 1 TO LEASE AGREEMENT is made and entered into this            day
of            , 2003 by and between CENTREPARK PLAZA I PARTNERS
SERIES OF NAVARRO LOWREY, L.P., a Delaware limited partnership authorized to transact business in Florida as Centrepark Plaza I Series of Navarro
Lowrey, Ltd.("Landlord") and PHYSICIANS DIAGNOSTIC SERVICES, LLC, a Delaware corporation authorized to transact business in Florida
("Tenant"). 

        WHEREAS,
Landlord and Tenant entered into that certain Lease Agreement dated November 14, 2001 (the "Lease Agreement"), pursuant to
which Landlord leased to Tenant suite 110 consisting of approximately 2,402 square feet within the building located at 1801 Centrepark Drive East, West Palm Beach, FL 33401 (the
"Building"); and 

        NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree to amend the Lease Agreement as
follows: 

        1.    Recitals.    The recitals set forth above are true and correct and are incorporated herein by reference. 

        2.    Definitions.    All capitalized terms in this Amendment shall have the same meaning as in the Lease Agreement. 

        3.    Tenants Share of Expenses and Taxes.    Tenant's share of Expenses and Taxes, as outlined in Schedule I,
Basic Lease Information of the Lease, is hereby amended as follows: 2,402/(40,777 X 95%) = 6.20%. 

        4.     The
Lease Agreement, as modified herein, shall remain in full force and effect. 

	 	 	TENANT:
	

 	
 	

PHYSICIANS DIAGNOSTIC SERVICES, LLC, a Delaware corporation
	

WITNESS	
 	

By:	
 	

/s/ Sean Heyniger

	/s/ Kris Say
	 	Print Name:	 	Sean Heyniger

	/s/ Paul Price
	 	Its:	 	CEO

	 	 	 	 	 

	

 	
 	

LANDLORD:
	

 	
 	

CPW 13 PARTNERS, LTD,

a Florida limited partnership
	

 	
 	

By:	
 	

NAVARRO LOWREY, L.P.—CENTREPARK PLAZA I PARTNERS SERIES, A Delaware limited partnership authorized to transact business in Florida as Navarro Lowrey, Ltd—Centrepark Plaza I Partners Series
	WITNESS	 	 	 	 
	 	 	By:	 	 
	
	 	 	 	

	 	 	 	 	Frank Navarro
	 	 	Its:	 	President
	
	 	 	 	 

 

        6.     Schedule 1
Basic Lease Information is hereby revised to change the name and address of the Landlord and its Managing Agent to: 

	Landlord:	 	CentrePark East Investors LLC

c/o NAI/Merin Hunter Codman, Inc.

1601 Forum Place, Suite 200

West Palm Beach, FL 33401
	

Managing Agent:	
 	

NAI/Merin Hunter Codman, Inc.

1601 Forum Place, Suite 200

West Palm Beach, FL 33401

        7.     Schedule 1
Basic Lease Information and Section 10(c) of the Lease are hereby revised to change the "Tenant's Required Liability Insurance with Minimum
Policy Limits" from $1,000,000 to $2,000,000. 

        8.     Landlord
agrees to make available to Tenant up to $7,242.00 (the "Allowance") for Tenant's use toward Tenant's costs of refurbishing the Premises (the "Improvements").
Landlord will reimburse Tenant for Tenant's costs for the Improvements based upon applications for payment submitted to Landlord by Tenant no more often than once per month. The form of application
for payment shall be agreed upon by Landlord and Tenant. In support of expenditures paid out of each application for payment, Tenant shall submit to Landlord paid and receipted invoices for the
completed work, releases of liens for all such work, proof that the work has been inspected and approved by the applicable governmental authority, if applicable, and such other commercially reasonable
documentation as may be requested by the Landlord in order to validate the cost of the Improvements. All Improvements, whether covered by the Allowance or not, shall become the property of Landlord
upon the expiration or earlier termination of the Lease and shall remain on the Premises at all times during the term of this Lease. Tenant shall not be entitled to payment or rent reduction for any
part of the Allowance not used by Tenant. Tenant shall be permitted to commence work on the Improvements, subject to the terms of Article 6 of the Lease (including, without limitation, the
requirement that Tenant obtain Landlord's prior written consent for any of the Improvements), on the Effective Date of this Amendment. 

        9.     Tenant
represents and warrants that, except for NAI/Merin Hunter Codman, Inc. (the "Broker"), Tenant has not dealt
with any brokers, finders or similar parties with respect to the negotiations and/or terms contained in this Amendment. Tenant agrees to indemnify and hold Landlord harmless from and against any and
all claims, damages, liability and expenses, including, but not limited to, reasonable attorneys' fees, including any appellate proceedings, that may arise from any claims or demands of any broker(s),
finder(s) or similar party(ies) having dealt with or through Tenant and/or alleging to have dealt with or through Tenant, for any commission alleged to be due by such party in connection with this
Amendment. Landlord shall be responsible to pay the Broker a commission pursuant to a separate agreement. 

2

 

	LANDLORD:	 	TENANT:
	

NAVARRO LOWREY, L.P.-CENTREPARK	
 	

PHYSICIANS DIAGNOSTIC SERVICES, LLC Authorized to transact business in Florida
	PLAZA I PARTNERS SERIES, a Delaware limited partnership authorized to transact business in Florida as Navarro Lowrey, L.P. Centrepark Plaza I Partners Series	 	 	 	 
	By:	 	NAVARRO LOWREY, INC. a Delaware corporation, Its General Partner	 	 	 	 
	

By:	
 	

/s/ Frank Navarro
	
 	

By:	
 	

/s/ Shane Thompson

	Print Name:	 	Frank Navarro
	 	Print Name:	 	Shane Thompson

	Its:	 	President
	 	Its:	 	Director of Clinical OPS

3

SECOND AMENDMENT TO LEASE AGREEMENT  

        THIS SECOND AMENDMENT TO LEASE AGREEMENT (this "Amendment") is made as of the 12th day of
September 2006, by and between CentrePark East Investors LLC, a Delaware limited liability company ("Landlord") and PDSHeart, Inc., a
Delaware corporation ("Tenant"). 

WHEREAS:  

        A.    Landlord
and Tenant are the current parties to that certain Lease Agreement dated November 14, 2001, as amended by that certain First Amendment to Lease Agreement
dated August 29, 2003 (collectively, the "Lease") with respect to certain premises located at 1801 CentrePark Drive East. Suite 110. West Palm
Beach, Florida 33401, as more particularly described in the Lease. 

        B.    The
parties desire to amend the Lease in certain respects as more particularly set forth below. 

        NOW, THEREFORE, in consideration of the execution and delivery of this Amendment, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 

        1.     This
Amendment shall be deemed a part of, but shall take precedence over and supersede any provisions to the contrary contained in the Lease. 

        2.     All
initial capitalized terms used in this Amendment shall have the same meaning as set forth in the Lease unless otherwise provided. 

        3.     Tenant
hereby acknowledges and agrees that Tenant is not (without performing any due diligence) aware of any existing defaults by reason of any act or omission of the
Landlord under the Lease and that the Tenant's actual knowledge (without performing any due diligence) Landlord has fulfilled all of its duties and obligations under the Lease to date. 

        4.     Landlord
and Tenant agree that the term of the Lease is hereby extended for a period of three (3) years commencing on September 1, 2006 and ending on
August 31, 2009 (the "Extended Term"). 

        5.     Tenant
acknowledges and agrees that the total Base Rent payable by Tenant during the first year of the Extended term consists of two separate components. i.e. Base Rent
of $19.00 per square foot and rent for additional janitorial services which are specific to Tenant's use of the Premises of $1.80 per square foot. The total Base Rent payable during the Extended term
is as follows: 

	Months
 
	 	Rate/sq. ft.
	 	Monthly
	 	Annually

	9/1/06 to 8/31/07	 	$	20.80	 	$	4,163.47	 	$	49,961.60
	9/1/07 to 8/31/08	 	$	21.63	 	$	4,329.61	 	$	51,955.26
	9/1/08 to 8/31/09	 	$	22.50	 	$	4,503.75	 	$	54,045.00

        6.     Schedule 1
Basic Lease Information is hereby revised to change the name and address of the Landlord and its Managing Agent to: 

	Landlord:	 	CentrePark East Investors LLC

c/o NAI/Merin Hunter Codman, Inc.

1601 Forum Place, Suite 200

West Palm Beach, FL 33401
	

Managing Agent:	
 	

NAI/Merin Hunter Codman, Inc.

1601 Forum Place, Suite 200

West Palm Beach, FL 33401

        7.     Schedule 1
Basic Lease Information and Section 10(e) of the Lease are hereby revised to change the "Tenant's Required Liability Insurance with Minimum
Policy Limits" from $1,000,000 to $2,000,000. 

 

        8.     Landlord
agrees to make available to Tenant up to $4.804.00 (the "Allowance") for Tenant's use toward Tenant's costs of refurbishing the Premises (the "Improvements").
Landlord will reimburse Tenant for Tenant's costs for the Improvements based upon applications for payment submitted to Landlord by Tenant no more often than once per month. The form of application
for payment shall be agreed upon by Landlord and Tenant. In support of expenditures paid out of each application for payment. Tenant shall submit to Landlord paid and receipted invoices for the
completed work, releases of liens for all such work, proof that the work has been inspected and approved by the applicable governmental authority, if applicable, and such other commercially reasonable
documentation as may be requested by the Landlord in order to validate the cost of the improvements. All improvements, whether covered by the Allowance or not, shall become the property of Landlord
upon the expiration or earlier termination of the Lease and shall remain on the Premises at all times during the term of this Lease. Tenant shall not be entitled to payment or rent reduction for any
part of the Allowance not used by Tenant. Tenant shall be permitted to commence work on the Improvements, subject to the terms of Article 6 of the Lease (including without limitation the
requirement that Tenant obtain Landlord's prior written consent for any of the Improvements), on the Effective Date of this Amendment. 

        9.     Tenant
represents and warrants that, except for NAI/Merin Hunter Codman, Inc. (the "Broker"). Tenant has not dealt with any brokers, finders or similar parties
with respect to the negotiations and/or terms contained in this Amendment. Tenant agrees to indemnify and hold Landlord harmless from and against any and all claims, damages, liability and expenses,
including, but not limited to, reasonable attorneys' fees, including any appellate proceedings, that may arise from any claims or demands of any broker(s), finder(s) or similar party(ies) having dealt
with or through Tenant and/or alleging to have dealt with or through Tenant, for any commission alleged to be due by such party in connection with this Amendment. Landlord shall be responsible to pay
the Broker a commission pursuant to a separate agreement. 

        10.   Landlord
and Tenant are also the parties to that certain Lease dated November 18, 2002. as the same has been amended, for certain office premises known as Suite
125, 1801 CentrePark Drive fast. West Palm Breach, Florida. (the "Suite 125 Lease"). Tenant acknowledges and agrees that any default under the Suite 125 Lease shall also be deemed a default under this
Lease which shall entitle Landlord to exercise any and all rights and remedies provided to Landlord for a Tenant default under this Lease. 

        11.   Except
as specifically modified hereby all of the provisions of the Lease which are not in conflict with the terms of this Amendment shall remain in full force and
effect. 

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

	Signed, sealed and delivered in the presence of:	 	LANDLORD:
	

 	
 	

CENTREPARK EAST INVESTORS LLC

a Delaware limited liability company
	

/s/ Ally Oilerich
	
 	

By:	
 	

/s/ [ILLEGIBLE]

	 	 	Print Name:	 	 
	 	 	 	 	

	/s/ K. Heck	 	Its	 	 
	
	 	 	 	

	

 	
 	
TENANT:
	

 	
 	

PDSHeart, Inc., a Delaware corporation
	

/s/ Maria Puente
	
 	

By:	
 	

/s/ Gregory N. Marsh

	 	 	Name:	 	Gregory N. Marsh

	 	 	Title:	 	COO & CFO, PDSHeart, Inc.

2

QuickLinks

Exhibit 10.16

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