Document:

Exhibit 10.13

 Exhibit 10.13 
  
 THIS LEASE AGREEMENT, made this 29th day of November, 1999, by and between WILLIAM M. STERRETT, JR. FAMILY LIMITED PARTNERSHIP, a Virginia limited Partnership, Grantor, hereinafter
referred to as “Lessor”, and LUNA ANALYTICS, Grantee, hereinafter referred to as “Lessee”, whose address is 2903 Commerse St., Blacksburg, VA. 
  
 WITNESSETH: 
  
 WHEREAS, William M. Sterrett, Jr. Family Limited Partnership is the sole owner of the following described real estate, to-wit: 
  
 Blacksburg Industrial Condominiums, 2903 Commerce Street, Blacksburg
Industrial Park, Blacksburg, Virginia, 24060. 
  
 WHEREAS,
Luna Analytics desires to lease a portion of the aforesaid premises for the purpose of conducting their business. 
  
 NOW THEREFORE, in consideration of the mutual covenants contained herein the parties hereby agree as follows: 
  
 DESCRIPTION OF THE PREMISES 
  
 Lessor agrees to lease and Lessee agrees to rent certain space of Blacksburg
Industrial Condominiums, containing 5,000 square feet, as shown on the attached floor plan, labeled Exhibit ”A”, a copy of which is attached hereto and made a part hereof, which space is hereafter referred to as the
“premises.” 
  
 TERMS OF LEASE 
  
 Lessee agrees to lease the above described premises for a period of three
(3) years commencing on the 1st day of January, 2000, and continuing until the 31st day of December, 2003. In addition, the Lessee will have the option to renew this lease for one additional 3 year period, on
the terms and conditions as hereinafter set forth. The Lessee’s option to renew shall be exercised by Lessee giving written notice to Lessor one hundred twenty (120) days prior to the expiration of the current lease term. 
  
 RENT 
  
 Lessee agrees to pay to Lessor at 3101 Commerce, Blacksburg Industrial Park, Blacksburg, Virginia, 24060, the sum of forty
thousand two hundred fifty dollars ($40,250.00) per year, payable in installments of three thousand fifty-four dollars and seventeen cents ($3,354.17) per month, for the lease of the premises, to be due and payable on the 1st day of each month
beginning on the 1st day of January, 2000. 
  
 Lessee shall pay
the Lessor two (2) months rent as deposit in advance of occupancy and upon execution of this lease. One half of the deposit will be applied to the first month’s rent, and one half 

 
will be kept as a security deposit. At the termination of this lease, the security deposit will be returned within 30 days, provided all terms of this lease
have been complied with. 
  
 In addition, the parties hereto agree
that during the term of this lease and any extensions thereof, there will be a 2% annual increase of the rent each year, beginning on January 1, 2001, and each succeeding year thereafter. 
  
 USE OF THE PREMISES 
  
 The parties expressly agree that this Lease is executed in order that the
Lessee may conduct the business of Luna Analytics upon the premises, and that the demised premises shall not be put to any other use without the prior written consent of Lessor. 
  
 SERVICES 
  
 During the term of this Lease, Lessor shall be responsible for maintenance and repair of the roof and all structural portions of the premises. In
addition, lessor will be responsible for ground maintenance such as mowing and snow removal. 
  
 During the term of this Lease, Lessee will pay all water, sewer, and electrical service, as well as interior maintenance, and all exterior non-structural maintenance. In addition, Lessee will pay for 100% of the cost
to repair damage caused by Lessee. 
  
 Lessee shall not during the
term of this lease or any renewals thereof, make any alterations or changes to the premises without first obtaining the written consent of the Lessor, which consent will not be unreasonably withheld. 
  
 Provided the Lessee is not in default hereunder, all fixtures, furnishings
and equipment placed on the Premises at Lessee’s expense shall be and remain the Lessee’s personal property. Except for permanently affixed plumbing, heating, ventilating, air conditioning, and attached electrical fixtures and equipment,
all such fixtures, furnishings and equipment may be removed by Lessee, at its expense, at any time prior to the expiration of this Lease. 
  
 Any permanent improvements to the Premises constructed by Lessee and all structural alteration, additions and changes thereto shall become the property of
the Lessor at the expiration of this Lease without any compensation being paid Lessee therefore, except as otherwise provided herein. 
  
 Lessor warrants that he has full right, authority, and power to execute and perform this Lease and to grant the estate demised herein. Further, the Lessor
covenants and warrants that the Lessee will have quiet and peaceable possession and enjoyment of the Premises for the full term of the Lease without hindrance or molestation by any person, provided the Lessee is not in default in the performance of
any of the covenants and terms of this Lease. 
  

 2 

 ASSIGNMENT AND SUBLEASE 
  
 This Lease may not be assigned or transferred, and the premises may not be sublet, either in whole or in part, by Lessee
without Lessor’s prior written consent. Lessor’s approval shall not be unreasonably withheld. 
  
 RIGHT OF ENTRY TO REPAIR 
  
 Lessor reserves the right of himself, his agents and employees to enter upon the premises at any reasonable time to make repairs, alterations or improvements; provided, however, that such repairs, alterations, or
improvements shall not unreasonably interfere with the Tenant’s business operations. Such right to enter shall also include the right to enter upon the premises for the purposes of inspection. 
  
 INSURANCE-TAXES 
  
 Lessor shall be responsible for all property and real estate taxes. In
addition, Lessor shall be responsible for maintaining fire and casualty insurance on the building. 
  
 Lessee shall maintain at its expense, through the term, insurance against loss or liability in connection with bodily injury, death, property damage and
destruction, occurring within the premises or arising out of the use thereof by the Lessee or its agents, employees, officers or invitees, visitors and guests under one or more policies of general public liability insurance having such limits as to
each as are reasonably required by the Lessor from time to time (but in any event of not less than Five Hundred Thousand ($500,000.00) combined single limit for injury to or death of any one or more persons during any one occurrence, and for
property damage or destruction during any one occurrence). Such policies shall name the Lessor and the Lessee (and, at the Lessor’s request, any Mortgagee) as the insured parties, shall provide that they shall not be cancelable without at least
thirty (30) days’ prior written notice to the Lessor (and at the Lessor’s request, any such Mortgagee), and shall be issued by Insurers of recognized responsibility licensed to do business in Virginia. Lessee shall furnish Lessor with
a certificate of said insurance and resubmit same to Lessor upon any change or renewal of said policy. 
  
 That all personal property in said premises shall be and remain at Lessee’s sole risk, and Lessor shall not be liable for any damage to nor loss of
such personal property arising from any acts or negligence of any other persons, nor from the bursting, leaking or overflowing of water, sewer or steam pipes, nor from heating or plumbing fixtures, nor from electric wires or fixtures, nor from any
other cause whatsoever; nor shall the Lessor be liable for any injury to the person of the lessee or other persons in said premises; the Lessee expressly agreeing to save the Lessor harmless in all such cases. 
  
 BANKRUPTCY OR INSOLVENCY 
  
 It is expressly agreed that if at any time during the term of this lease,
Lessee shall be adjudged bankrupt or insolvent by any Federal or State Court of competent jurisdiction, Lessor may, at his option, declare this lease to be terminated and canceled, and may take possession of demised 

  

 3 

 
premises. In the event of the such bankruptcy or insolvency of the Lessor, or in the event the premises are sold, Lessee may elect to terminate this lease,
but he will not be required to do so. 
  
 DAMAGE OR DESTRUCTION
BY FIRE OR NATURAL CAUSES 
  
 If, during the term of this
lease, and absence of any negligence on behalf of the Lessee, the building on the demised premises is destroyed by fire, natural causes, or other casualty, or so damaged thereby that it cannot be repaired with reasonable diligence within sixty
(60) days, this lease shall terminate as of the date of such damage or destruction. However, if said buildings can with reasonable diligence be repaired within 60 days, said buildings shall be, by Lessor, repaired as quickly as is reasonably
possible, and this lease shall remain in full force and effect; provided, however, rent shall be abated for any part of said building which is rendered unfit for occupancy for the period that such unfitness continues. 
  
 DEFAULT ON PAYMENT OF RENT 
  
 If any monthly installment of rent as herein called for remains overdue and
unpaid for five (5) days, Lessor shall impose a penalty of five (5) percent of the monthly rental amount for each month overdue. If any monthly installment of rent and interest as herein called for remains overdue and unpaid for thirty
(30) days, Lessor may, at his option, at any time during such default, declare this lease terminated and take possession of the demised premises. 
  
 In the event there is a default by either party to this lease, then the defaulting party will be responsible for the court costs and reasonable attorney
fees and any other expenses incurred by the other party in enforcing this lease. 
  
 SIGNS 
  
 Lessee may
display signs and shingles advertising his place of business with the prior written consent of the Lessor, which shall not be unreasonably withheld. 
  
 NOTICES AND LICENSES 
  
 All notices required or permitted herein shall be in writing and shall be deemed to have been given if mailed, postage prepaid, in any United States Post
Office by certified or registered mail, return receipt requested or any other delivery service providing a delivery receipt. The first (1st) day following receipt of such notice shall be the start date for all time periods stated herein. The giving of notice of termination as provided for herein shall terminate this Lease with the same force and effect as
though that date were the date originally specified herein for the expiration of this Lease, unless otherwise provided herein. All notices shall be addressed to Lessor or Lessee, respectively, at the following addresses, or to such other address as
the parties may designate in writing from time to time. 
  

 4 

							
	LESSOR	  	 	  	LESSEE	  	 
	William M. Sterrett, Jr.	  	 	  	Luna Analytics	  	 
	Family Limited Partnership	  	 	  	2903 Commerce St.	  	 
	3101 Commerce St.	  	 	  	Blacksburg, VA 24060	  	 
	Blacksburg, VA 24060	  	 	  	 	  	 
	 	  	 	  	 	  	 
	With a copy to:	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

  
 Lessee shall obtain
all governmental licenses, certificates, and permits necessary for Lessee’s intended use and leasehold improvements. In the event that the Lessee cannot obtain such licenses, certificates, and permits proceeding diligently and in good faith,
Lessee, at its option, may terminate this Lease by giving written notice to the Lessor, provided such notice is given within sixty (60) days from the Commencement Date, except that such period be extended if Lessee is proceeding diligently and
in good faith to obtain such governmental approval. 
  
 The
parties, having read and understood the provisions of this lease, agree for themselves, their heirs, administrators, personal representatives, executors, and assigns to be bound thereby. 
  
 This lease shall be governed by the applicable laws of the Commonwealth of Virginia. 
  
 This lease, including exhibits, expresses the entire understanding and all
agreements of the parties. Neither party has made or shall be bound by any agreement or representation to the other party, which is not expressly set forth herein or in the exhibits attached hereto. 
  

 5 

 In Witness Whereof, the parties have executed this lease on the 29th day of November, 1999. 
  

			
	WILLIAM M. STERRETT, JR. FAMILY LIMITED PARTNERSHIP, a Virginia Limited Partnership
		
	BY: 	 	/s/ William M. Sterrett, Jr.
	ITS:	 	G.P
	Lessor

  

			
	 
	LUNA ANALYTICS
		
	BY: 	 	/s/ Kent Murphy
	ITS:	 	President
	Lessee

 Addendum to Lease for 2903 Commerce St. made the 29th day of November 1999 
  
 The following addendum items made this 27th of November, 2001 relate to the lease made November 29, 1999 by and between William M. Sterrett, Jr. Family Limited Partnership and Luna Analytics. 
  

			
	Addendum 1:	  	The name of the Lessor is changed to Luna Innovations.
		
	Addendum 2:	  	The address of the leased space is to be designated as Suite C, (see the attached Exhibit A for Suite location), with a change to read: “Whereas, Luna Innovations desires to
lease the aforesaid premises for the purposeExhibit 10.14

 Exhibit 10.14 
  
 COMMERCIAL LEASE 
  
 This lease, made the 17th day of March 2003 by and between Canvasback Real Estate & Investments LLC (“Lessor”), and Luna Innovations, Inc. (“Lessee”). 
  
 WITNESSETH 
  
 That Lessor, for and in consideration of the covenants and agreements
hereinafter set forth and further consideration of the rent which Lessee agrees to pay, hereby leases and demises unto Lessee, and the Lessee hereby takes, accepts and rents from Lessor, the premises hereinafter set forth for the period, at the
rental, and upon the terms and conditions hereinafter set forth: 
  
 1. Premises. The demised premises, description as follows: 
  
 8500 SF (+/-) of space at 705 Dale Avenue, Charlottesville, VA [$15.28/SF] 
  
 2. Existing Conditions. Lessee accepts premises in its condition, with the exception of latent detects, as of the execution of the lease, subject
to the completion of all noted improvements and conditions of Exhibit ”A”. Lessee acknowledges that he has made whatever physical inspection of the premises he deems appropriate to ascertain the condition of the premise under this
provision of the lease. 
  
 3. Permitted Uses and Manner of
Use. Lessee shall use premises solely as: Office, research and laboratory space. 
  
 4. Term. The lease shall be for a term of five (5) years beginning on the first day of June 2003 and shall end at 12:00 noon on the 31st day of May 2008. Lessee shall have the option to extend the lease for one (1) additional term(s) of five (5) years at the same terms and
conditions, with the same annual percentage of increase. 
  
 5.
Rent. 
  

							
	 	  	Month

	  	Annual

	 Year l
	  	$	10,820.00	  	$	129,840.00
	 Year 2
	  	$	11,144.60	  	$	133,735.20
	 Year 3
	  	$	11,479.00	  	$	137,748.00
	 Year 4
	  	$	11,823.00	  	$	141,882.00
	 Year 5
	  	$	12,178.20	  	$	146,138.40

  
 6. Common Area
Maintenance. The Lessor shall maintain, in good and clean condition, the exterior common areas, including parking lot and sidewalks and shall provide a common dumpster for Lessee’s use and supply water and sewer services. Lessee shall
reimburse expense of such common area maintenance in the amount of $.20 per SF of demised space per month ($141.66 per month). 

 7. Security Deposit. Upon execution of this lease, Lessee’s deposit with the Lessor in the
amount of $10,820.00, and the amount previously designed as the deposit for demised premises at 701 Charlton Avenue shall be credited against deposit on these demised premises and held by Lessor as security for performance by the Lessee of all
covenants, terms, conditions, and provisions required to be kept and performed by Tenant under this lease. Lessor may apply all or part of the security deposit to any unpaid rent or other charges due from Lessee, or to cure any other defaults of the
Lessee. If the Lessor uses any part of the security deposit, Lessee shall restore the security deposit to its full amount with ten (10) days after the Lessor’s written request. Lessee’s failure to do so shall be a material default
under this lease. No interest shall be paid on the security deposit. The Lessor shall not be required to keep the security deposit separate from its other accounts and no trust relationship is created with respect to the security deposit. Lessee
shall not be entitled to apply the security deposit to any rent or other sum due under this lease. Following the expiration of the lease period, the final damage inspection of the premises in Section 13, and the correction of any damages, the
Lessor will return the damage deposit to the Lessee minus the costs of any unrepaired damage or outstanding charges. As the request of the Lessor, Lessee agrees to provide additional security to the Lessor for the terms of the lease. 
  
 Lessee’s Guarantor: If required. If none, so state. None. 
  
 8. Late Fees. In the event the Lessor does not receive from Lessee any
installments of rent within five (5) business days of the date for which such installment is due, a late fee of five percent (5%) of the monthly rent installment shall be due as additional rent. Any rental payment amounts, which are past
due more than thirty (30) days shall bear interest at the rate of ten percent (10%) per year. 
  
 9. Cost of Enforcement of the Lease. Lessee hereby agrees to pay all reasonable costs, expenses, fees, and charges incurred by Lessor in enforcing
by legal action or otherwise, any provisions, covenants, conditions of the lease including reasonable attorney’s fees, and Lessee hereby waives the benefit of any homestead or similar exemption laws with respect to the obligations of this
lease. 
  
 10. Property Taxes. Lessor will be responsible
for real estate property taxes on the building shell and those improvements provided by the Lessor under the terms of this lease. Lessee shall be responsible for all property and business taxes due on his business property, fixtures, materials,
equipment and improvements to the premises made by the Lessee. If the property is not separately assessed, Lessee’s share of the real property tax payable shall be determined from the assessor’s worksheets or other reasonably available
information. Lessor shall make a reasonable determination of the lessee’s proportionate share of such real property taxes, if any, and Lessee shall pay such share to the Lessor within fifteen (15) days of the Lessor’s written
statement. 
  
 11. Improvements by Lessee. The Lessee shall
have the right from time to time, to make such alterations and improvements to, and decoration of, the interior of the leased property as shall be reasonably necessary or appropriate for the conduct of Lessee’s business therein; provided that
prior to the commencement of any such alterations or improvements the Lessee shall have submitted to Lessor plans in writing of the proposed alterations and/or improvements. If within fifteen (15) days after such plans are submitted by the
Lessee to the Lessor for approval, Lessor shall not have 

 
given Lessee notice in writing of Lessor’s disapproval, stating the reasons for such disapproval, such plans and specifications shall be considered
approved by Lessor. Any alteration, addition or improvement made by the Lessee after such consent shall have been given, and any fixtures which have been installed and which would damage the building if removed, shall at the Lessor’s option
become the property of the Lessor upon the expiration or sooner termination of this lease, or at the Lessor’s option, with the property returned to its original condition. 
  
 In the event that the leasehold improvements by the lessee are extensive and at the option of the Lessor, the Lessor may
require the Lessee to post a construction completion bond for the work. Such bond shall be released by the Lessor following satisfaction of all materials and labor suppliers as evidenced by lien waivers for the completed construction. Lessor
requires that all plans for alterations or improvements to the property meet applicable building code and utility company requirements and shall fit with the overall aesthetics of the building, as determined by the Lessor. 
  
 12. Rules and Regulations. Lessee shall observe and comply with the
rules and regulations hereinafter set forth which are made a part hereof, and with such other further reasonable rules and regulations Lessor may prescribe, on written notice to the Lessee for the safety, care and cleanliness of the building and
adjacent areas for the comfort, quiet, safety and convenience of other occupants of the building. 
  
 13. Repairs and Maintenance. Lessee shall at its sole expense keep the interior of the premises in good working order and repair as it was at the
commencement of this lease agreement, reasonable wear and tear expected. A walk through shall be made by representatives of Lessee and Lessor with ten (10) days of the commencement of this lease and a checklist shall be prepared which states
the condition of all leased property. This checklist shall be signed by both representatives at the time of the walk through. Any repairs noted as required to be made by the Lessor shall be completed by the Lessor within a reasonable time. The
second walk through shall be made immediately following the expiration of this lease and the vacation of the premises by the Lessee and any repairs noted as required by the Lessor. Lessee shall, in the usual occupancy of the premises, conform to all
laws, orders and regulations of federal, state, municipal governments have jurisdiction and further agrees to maintain the interior of said leased premises in good and safe condition. Lessee shall not place equipment with a weight greater than 250
lbs. per square foot on the ground floor of the building of the property without the written consent of the Lessor and agrees to indemnify the Lessor for all damages resulting from the placement or moving of any such article. 
  
 Lessor agrees to maintain and keep in good repair the heating/cooling
systems, plumbing, electrical, roof, the exterior of the building, the grounds, and the parking areas. 
  
 Lessee agrees to operate all heating/cooling systems, plumbing, and electrical systems in the building in accordance with their operating instructions if
provided and consistent with normal operating for such systems. 
  
 14. Utilities and Services. Lessor shall pay for electric and HVAC service. Lessee shall reimburse Lessor for amount of electricity used. Lessor shall bill Lessee monthly based upon actual use readings of E-MON meter. Lessee shall
pay for all other services, including removal of any 

 
waste materials, which are above the normal range of waste produced, or are hazardous in nature, in the course of a business day and any janitorial services.

  
 15. Lessor’s Insurance. Lessor shall maintain
property insurance on the building shell and general liability insurance for the building shell and premises. 
  
 16. Destruction by Casualty. 
  
 A. Lessee’s Responsibilities. Lessee shall not be responsible for the destruction or damage to the premises caused by fire,
the elements, casualty or other cause, unless such damage or destruction is caused by the misuse or gross neglect of Lessee of Lessee’s agents, servants, visitors, licenses, equipment and/or supplies. Lessee shall notify the Lessor immediately
in writing upon the occurrence of any damage to the property. 
  
 B. Restoration of Damaged Premises. If the property is only partially damaged and of the proceeds received by the Lessor from the insurance policies available are sufficient to pay for the necessary repairs,
this lease shall remain in effect and the Lessor shall repair the property as soon as reasonably possible. Lessor may elect to repair any damage to the Lessee’s fixtures, equipment or improvements. If the insurance available to the Lessor is
not sufficient to pay the entire cost of the repair, or if the cause of the damage is not covered by the insurance policies which the owner maintains, the Lessor may elect to either repair the damage as soon as possible, in which case the lease
shall remain in full force and effect, or terminate the lease as of the date that the damage occurred. The Lessor shall notify the Lessee within thirty (30) days after receipt of notice of damage whether Lessor will repair the damage or
terminate the lease. If the Lessor elects to repair the damage, and if damage is the result of the acts of omissions of the Lessee, then Lessee shall pay the Lessor the “deductible amount” (if any) under Lessor’s insurance policies,
and of the damage was due to an act of omission of the Lessee, the difference between the actual cost of the repair and any insurance proceeds received by the Lessor. If the Lessor elects to terminate the lease, Lessee may elect to continue this
lease in full force and effect, in which case Lessee shall repair any damage to the property. Lessee shall pay the cost of such repairs, except that, upon satisfactory completion of such repairs, the Lessor shall deliver to the Lessee any insurance
proceeds received by the Lessor for the damage repaired by the Lessee. Lessee shall give Lessor written notice of election within ten (10) days after receiving Lessor’s notice of termination. If the damage to the property occurs during the
last six (6) months of the lease term, the Lessor may elect to terminate this as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds. In such event, Lessor shall not be obligated to repair or restore the
property and the Lessee shall have no right to continue the lease. Lessor shall notify Lessee of its election within thirty (30) after receipt of notice of the occurrence of the damage. 
  
 C. Destruction of Premises. If the property is
totally or substantially destroyed by any cause whatsoever, this lease shall terminate as of the date the destruction occurred and Lessor will return security deposit. The Lessor may elect to rebuild the property at Lessor’s own expense, in
which case this lease shall remain in occurrence or total or substantial destruction. If the destruction was caused by an act or omission of the Lessee, Lessee shall pay the Lessor the difference on the costs of rebuilding and any insurance proceeds
received by the Lessor. 

 D. Rent Abatement. If the property is damaged or destroyed and the Lessor or the
Lessee repairs or restores the property pursuant to the provisions of this Article, the rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Lessee’s use of the
property is impaired. Except for such possible reduction in rent, Lessee shall not be entitled to any compensation, reduction, or reimbursement from Lessor as a result of any damage, destruction, repair, or restoration of or to the property.
Notwithstanding the foregoing provisions, in the event the leased property shall be damaged by fire or other insured casualty due to the fault or gross neglect of the Lessee, of the Lessee’s servants, employees, contractors, agents, visitors or
licenses, then, without prejudicing any other rights and remedies of the Lessor, there shall be no apportionment or abatement of any rent. Consistent with the insurance requirements of this lease, Lessee shall obtain insurance to cover any damage to
the premises caused by fire or other casualty due to the deliberate or gross negligent act of the Lessee of the Lessee’s agents, servants, employees, visitors or licensees. 
  
 17. Eminent Domain. If, the premises or any part thereof or any estate therein, or any other part of the building
materially affecting Lessee’s use of the premises, be taken by virtue of eminent domain, this lease shall terminate on the date when title vests pursuant to such taking, and no additional rent shall be owing by Lessee from that date forward.
Lessee shall not be entitled to any part of any award or any payment in lieu thereof; but Lessee may file a claim for Security Deposit any taking of fixtures and improvements owned by the Lessee with authority taking said property by virtue of
eminent domain. 
  
 18. Insurance. Upon request by Lessor
of occupancy, the Lessee shall provide Lessor with verification from Lessee’s insurance company showing compliance with the requirement that he obtain insurance coverage and shall maintain such insurance coverage necessary to cover the value of
Lessee’s property located on or about the demised premises. Lessee agrees that Lessor shall not be responsible for any damage to Lessee’s property located on or about the demised premises caused by fire, water, or other casualty. Lessee
shall maintain in force insurance against liability for personal injury and/or property damage with limits of no less than $500,000 per occurrence. All insurance required by this paragraph 18 shall be carried in favor of Lessor and lessee as their
respective interests may appear and all insurance must be written with companies acceptable to Lessor and shall require ten (10) business days notice to Lessor by registered mail of any cancellation or change affecting any interest of Lessor.
Lessee will provide Lessor with its certificate of insurance in lieu of naming Lessor as an additional secured. 
  
 19. Entry by Lessor. Lessor may enter and have access to the demised premises at any reasonable time, with 48 hours notice to Lessee (except that
no notice need be given in the case of emergency) for the purpose of showing the property to potential buyers, investors, tenants, or other parties, or for the purpose of inspecting or the making of such repairs, replacements, and additions
necessary or desirable either for the Lessee or for other tenants in the building, under the terms of this agreement. 
  
 20. Assignment and Subletting. Lessee shall not assign this lease agreement, sublet the premises, or allow other to use the premises or any portion
thereof without the prior written consent of Lessor. 

 21. Default or Breach. Each of the following events shall constitute a default or breach of this
lease by Lessee: 
  
 A. Lessee, or any successor
assignee of Lessee while in possession, shall file a voluntary petition in bankruptcy or shall voluntarily take advantage of any act by answer or otherwise, or shall make an assignment for the benefit of creditors. Similarly, if involuntary
proceedings under any bankruptcy law or insolvency act be instituted against Lessee or if a received or trustee shall be appointed for all or substantially all of the property of Lessee, and such proceedings shall not be dismissed if the
receivership or trusteeship vacated within thirty (30) days after the institution of this agreement or appointment. 
  
 B. If five (5) business days have elapsed after Lessor has given Lessee written notice that the Lessee has failed to pay any rent or
portion thereof when due under this lease. 
  
 C.
If Lessee fails to conform or comply with any of the conditions of this lease and if a non-performance shall continue for a period of five (5) business days after written notice thereof by Lessor to Lessee, if performance cannot be reasonably
completed within the five (5) business day period, Lessee shall have failed to make a good faith commencement of performance within the five (5) business day period and shall have failed to diligently proceed to completion of performance.

  
 D. If Lessee shall vacate the demised
premises. 
  
 E. If this lease shall be
transferred to or shall be transferred to or shall pass to or default to any other person except in the manner herein permitted. 
  
 22. Effect of Default. In the vent of any default hereunder, as set forth in the immediately preceding paragraph, the rights of the Lessor shall be
as follows: 
  
 A. Lessor shall have the right to
cancel and terminate this lease as well as the right, title and interest in Lessee hereunder giving Lessee at least ten (10) business days notice of the cancellation and termination. Upon the expiration of the time affixed in the notice in
accordance with this paragraph, this lease and the right, title and interest in Lessee hereunder, shall terminate in the same manner and with the same force and effect, except as to Lessee’s liability, as if the date fixed in the notice of
cancellation and termination were the end of the term herein originally determined and Lessee had not exercised any right to renew said lease there under. As of the date fixed in said notice of termination and cancellation, Lessor shall have the
right to re-enter the premises and take possession thereof. 
  
 B. Lessor may elect, but shall not be obligated, to make any payment required of Lessee and to comply with agreement, term or condition required hereby to be performed by Lessee, and Lessor shall have the right to
re-enter the demised premises for the purpose of correcting or remedying any such default and to remain until the default has been corrected or remedied, but any expenditure or the correction by Lessor shall not be deemed waive payments due to the
Lessor or release the default of Lessee or the right of Lessor to take any action as otherwise would be permissible hereunder in the case of any default. 

 C. After the time period mentioned in paragraph 22A has elapsed, Lessor may remove
the property and personnel of Lessee, and restore the property at the cost of and for the account of Lessee. Such restoration of property by Lessor shall be to a like condition. 
  
 D. Lessee’s liability to Lessor shall survive Lessee’s eviction and Lessor shall be entitled to
recover the rent reserved for the full lease term which shall come due and payable in full, offset only by rent actually received, after the time period in the notice of termination and cancellation has elapsed. Lessor’s remedies hereunder are
in addition to any remedies allowed by law. 
  
 23.
Subordination. This lease shall be subordinate to all mortgages or deeds of trust, which may now or hereinafter affect the real estate of which the premises form a part, and also to all renewals, modification, consolidations and replacements
of said mortgages or deed of trust. Lessee shall on demand execute, acknowledge, and deliver to Lessor without expense to Lessor any and all instruments that may be necessary or proper to subordinate this lease and all rights therein to any such
deeds of trust or renewals, modifications, extensions and of Lessee shall fail at any time to execute, acknowledge and deliver any such subordinations, Lessor in addition to any other remedies available in consequence thereof, may execute,
acknowledge and deliver the same as Lessee’s attorney and in Lessee’s name. 
  
 24. Constructive Eviction. Lessee shall not be entitled to claim constructive eviction from the premises until Lessee shall first notify Lessor in writing of the condition or conditions giving rise thereto,
and, if the complaints be justified and sufficient to make out a claim of construction eviction, unless Lessor shall have failed within a reasonable time after receipt of notice to remedy such conditions. 
  
 Lessor may show premises to prospective purchasers and mortgagees at any
time, and, during the four months prior to termination of this lease, to prospective tenants, during business hours upon reasonable notice to Lessee, which said notice shall not be subject to the requirement of paragraph 27 herein. 

 
 All property of Lessee remaining on the premises at the expiration of the
lease, or any renewal thereto, shall conclusively be deemed abandoned and may be removed by the Lessor, and Lessee hereby agrees to reimburse the Lessor the costs of such removal. 
  
 Lessor may have any such property stored at Lessee’s risk and expense. 
  
 25. Quiet Possession. Lessor covenants that so long as Lessee pays the
rent and performs the covenants herein, Lessee shall peaceably and quietly have, hold and enjoy the premises for the term herein mentioned subject to the provisions of this lease. 
  
 26. Public Areas. Except as otherwise herein provided, Lessor will keep all entry ways, sidewalks, parking areas in a
clean and presentable condition, and will as soon as is reasonably possible, remove all snow and ice from the parking lots and other public areas. 
  
 27. Notice. All notices to be given with respect to this lease shall be in writing. Each notice shall be sent by registered or certified mail,
postage prepaid and return receipt requested, to 

 
the party to be notified at the address set forth herein, or at such address as the party may from time to time designate in writing. Any notice shall be
deemed to have been given at the time it shall be deposited in the United States mails in the manner prescribed herein. Nothing contained herein shall be construed to preclude personal service of summons or other legal process. All notices to Lessor
shall be mailed to the Lessor’s address at Canvasback Real Estate & Investments LLC, PO Box 2378, Charlottesville, VA 22902. All notices to Lessee shall be mailed to: Luna Innovations, PO Box 11704, Blacksburg, VA 24062.

  
 28. Waiver. No waiver of any breach or default under
this agreement shall be deemed to be a waiver of any subsequent breach or default of the same or similar nature. 
  
 29. Miscellaneous. This lease contains the entire agreement between the parties and cannot be changed or terminate except by written instrument
subsequently executed by the parties hereto. This lease and the terms and conditions hereof apply to and are binding on the heirs, legal representatives, successors and assigns of both parties. 
  
 30. Other Provisions. 
  
 A. Signage. The Lessee shall be entitled to install
identification signage at Lessee’s expense on the exterior of the building. Such signage shall conform to the requirements of the Charlottesville signage ordinance and approval of the Lessor. 
  
 B. Parking. The Lessee shall be entitled to the
exclusive use of parking spaces across Dale Avenue from the demised space. All other parking will be on the street, as lawfully permitted by the City of Charlottesville. 
  
 C. Lessor Improvements. Lessor agrees to finish space, including the laboratory upfit described in
Exhibit A, supplying all material s and labor as shown in Exhibit B. Lessee shall pay Lessor the non-refundable payment of Fifty-eight thousand seven hundred fifty dollars ($20,750.00) at signing of lease for their share of upfit costs.

  
 D. Lessee may at their option, with 120 day
notice, cancel the remainder of this lease commencing in the 37th month. Lessee agrees that there will be a cash
penalty for any early termination of this lease paid in cash or certified check with notice of said termination. If termination is in the 37th month the penalty will be $44,838.00. The penalty will diminish at the rate of $1,869.00 per month until the end of the lease term. 
  
 31. Previous Lease Voided. Upon the occupancy of the demised premises by Lessee and Lessee’s vacation of premises at 701 Charlton Avenue, the
lease dated October 28, 2001 shall be voided and both Lessee and Lessor released of all responsibility to act under the terms and conditions of that Lease. 
  

32. Brokerage Disclosure. The Lessor in this transaction has been represented by Charles A. Kabbash of Summit Commercial Realty Inc. and
the Lessee has represented themselves. 

 Witness the following seals and signatures: 
  
 LESSOR: 
  

					
	Canvasback Real Estate & Investments LLC	 	 	 	 
			
	/s/    WILLIAM J. NITCHMANN        	 	 (SEAL)
	 	 3-21-03

	William J. Nitchmann	 	 	 	 Date

			
	Mgr	 	 	 	 
	Title	 	 	 	 

  
 LESSEE: 
  
 Luna Innovations, Inc. 
  

					
			
	/s/    MICHAEL GUNTHER        	 	 (SEAL)
	 	 3-20-03

	Michael Gunther	 	 	 	 Date

			
	VP Operations	 	 	 	 
	Title	 	 	 	 

  
 If a
corporation Lessee shall attach a formal corporate resolution for this lease. 

 EXHIBIT A 
  

Lessor and Lessee agree that Lessor shall furnish and install the following improvements as shown on Exhibit B. 
  

	 	1.	Cabinets 

  

	 	2.	Shower 

  

	 	3.	Eyewash 

  

	 	4.	Emergency Shower 

  

	 	5.	Air/Vac Valves 

  

	 	6.	Storage Cabinets 

  

	 	7.	Sink Labs 

  

	 	8.	Additional Electric 

  

	 	9.	Additional plumbing 

  

	 	10.	Additional HV/AC 

  

	 	11.	Additional Doors & Hardware 

  

	 	12.	Sign 

  

	 	13.	Roof Penetration and Repair 

  

	 	14.	Security System 

  

	 	15.	Additional Data Lines 

  

	 	16.	Vacuum Pump installed (supplied by Lessee) 

  

	 	17.	Kemresin Top 6’ 

  

	 	18.	Refrigerator 

  

	 	19.	Two Baker Class 2 Hoods 

  

	 	20.	Additional Office Configuration 

  

	 	21.	Customized Lab Space 

  

	 	22.	Additional Walls 

  

	 	23.	Additional sheet rock, finishing and painting 

  

	 	24.	Floor covering and carpets 

  

	 	25.	Delivered in ready to occupy condition.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]