Document:

Exhibit 10.4

 

AMENDED
AND RESTATED COMMERCIAL LEASE

 

RECITALS:

 

A.           Landlord
and Tenant as defined below, entered into that certain Commercial Lease Agreement dated as of March 23, 2018 covering the Leased
Premises (defined below) which was amended and restated by that certain Commercial Lease Agreement dated November 28, 2018 which
was further amended and restated by that certain Amended Commercial Lease Agreement dated January 15, 2019 (“Original
Lease”).

 

B.           Landlord
and Tenant desire to amend and restate the Original Lease in its entirety as provided below.

 

ARTICLE
1.00 BASIC LEASE TERMS

 

1.01       Parties.
This Amended and Restated Commercial Lease (this “Lease”) is entered into between the following
Landlord and Tenant:

 

		Landlord:	Global
                                         Wells Investment Group LLC, a Texas limited liability company

 

		Tenant:	Lollicup
                                         USA Inc., a California corporation.

 

1.02       Leased
Premises. In consideration of the rents, terms, provisions and covenants of this Lease, Landlord hereby leases, lets and demises
to Tenant the following described premises (the “Leased Premises”):

 

Unit
A, of The 3201 Capital Blvd. Condominium (“Condominium”) comprised of 490,000 square feet of rentable
area (“Rentable Area”) together with Unit A’s undivided interest in and to the Common Elements as defined
in and provided by that certain Declaration of Condominium Regime for The 3201 Capital Blvd. Condominium of Landlord recorded
and effective as of ______________, 2019 in Book ___, Page ___ of the Official Public Records of Rockwall County, Texas (“Condominium
Declaration”)

 

Street
address/suite number: Unit A, 3201 Capital Blvd, Rockwall Texas 75032.

 

as more particularly outlined on the
Condominium Plat attached as Exhibit A .

 

1.03         Term.
The effective date of this Lease is March 23, 2018, (the “Effective Date”) and the term of this Lease
commences on May 1, 2019 (the “Commencement Date”) and shall continue thereafter for a period of one
hundred twenty (120) months following the Commencement Date, expiring on May 1, 2029 (the “Expiration Date”)
unless sooner terminated in accordance with the terms and provisions of this Lease (such period, including any extensions or renewals
thereof as provided on Rider A hereto, shall be referred to as the “Term”).

 

1.04         Base Rent. The base rent (the “Base Rent”) during the Term is as follows:

 

	Lease Month	 	Monthly Base Rent

    Payment	 	 	Annual Base Rent

    Payment	 	 	Annual PSF Base

    Rent	 
	May
    1, 2019 – October 31, 2019 

(the “Free Rent Period”)	 	$	0	 	 	$	0	 	 	$	0	 
	October 1, 2019 – March 31, 2021	 	$	196,000.00	 	 	$	2,352,000.00	 	 	$	4.80	 
	April 1, 2021 – March 31, 2023	 	$	201,880.00	 	 	$	2,422,560.00	 	 	$	4.94	 
	April 1, 2023 – March 31, 2025	 	$	207,936.40	 	 	$	2,495,236.80	 	 	$	5.09	 
	April 1, 2025 – March 31, 2027	 	$	214,174.49	 	 	$	2,570,093.90	 	 	$	5.25	 
	April 1, 2027 – March 31, 2029	 	$	220,599.73	 	 	$	2,647,196.72	 	 	$	5.40	 

 

     

     

    

 

For purposes
hereof, the first “Lease Month” shall begin on the Commencement Date and extend until the last day of
the first full calendar month thereafter, and each succeeding Lease Month shall be each calendar month thereafter.

 

1.05      Additional
Rent. Tenant shall also pay, as additional rent (the “Additional Rent”), (a) its pro rata share
of the Operating Expenses (hereinafter defined, and (b) any other charges owing by Tenant to Landlord under the terms of this
Lease.

 

1.06      Security
Deposit. None.

 

1.07      Guarantor.
None.

 

1.08      Addresses.

 

	Landlord’s
    Address:	Tenant’s
    Address:
	 	 
	Global Wells Investment Group
    LLC	Lollicup USA, Inc.
	1 Medline Drive	6185 Kimball Ave.
	Wilmer, Texas 75172	Chino, California 91708
	 	 
	ATTN.: Alan Yu	ATTN.: Marvin Cheng
	Telephone:	Telephone: (626) 965-8882
	Facsimile:	Facsimile:

 

The
parties should refer to Section 13.05 regarding the proper methods of sending notices between Landlord and Tenant.

 

1.09       Permitted
Use. Manufacturing and storage of paper and plastic goods and any other lawful use. (See Section 3.01)

 

ARTICLE 2.00
RENT

 

2.01      Base
Rent. Tenant agrees, without demand, setoff or deduction, to pay monthly as Base Rent during the Term of this Lease the sum
of money set forth in Section 1.04 of this Lease, which amount shall be payable to Landlord at the address shown above.
Monthly installment of Base Rent and Additional Rent (collectively, the “Rent”) shall be due and payable
on the first day of each calendar month succeeding the Free Rent Period during the Term of this Lease; provided, if the Expiration
Date of this Lease should be a date other than the first day of a calendar month, the monthly rental set forth above shall be
prorated to the end of that calendar month. Tenant shall pay, as Additional Rent, all other sums due under this Lease at the same
time that monthly Base Rent is due.

 

2.02      Operating
Expenses. Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata
share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata
share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth
hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one
hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses
for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s
reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting
showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting
shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this
section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments
made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied
by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day
of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall
occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration
Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting
described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice
to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of
more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord
shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any
Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent
due.

 

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2.03      Definition
of Operating Expenses. The term “Operating Expenses” includes all expenses actually incurred by
Landlord with respect to the maintenance and operation of the Project, including, but not limited to, the following: maintenance
and repair; security; management fees, an overhead and supervisory fee, wages and benefits payable to Landlord’s employees
whose duties are directly connected with the operation and maintenance of the Project; all services, utilities, supplies, repairs,
or other expenses for maintaining and operating the Leased Premises Common; the cost, including interest, amortized over its useful
life, of installation of any device or other equipment that improves the operating efficiency of any system within the Leased
Premises and thereby reduces Operating Expenses; all real property taxes and installments of special assessments (with Landlord
being required to either elect the installment treatment for special assessments or otherwise treat Operating Expenses as though
Landlord had elected the installment treatment with regard to special assessments), including dues and assessments by means of
deed restrictions and/or owners’ associations that accrue against the Leased Premises during the Term of this Lease; tax
consultants’ fees, and all insurance premiums Landlord is required to pay or deems necessary to pay, including public liability
insurance, with respect to the Leased Premises. The term “Operating Expenses” does not include the following:

 

(a) repairs,
restoration or other work occasioned by fire, wind, the elements or other casualty that are reimbursed by insurance proceeds;
income and franchise taxes of Landlord (except to the extent that such taxes are levied as substitution for or in lieu of real
property taxes);

 

(b) any
increase in insurance premiums to Unit A or the Condominium as a result of the business activities of other tenants or unit owners;

 

(c) the
costs of any capital replacements;

 

(d) structural
repairs that are the responsibility of Landlord as provided in Article 5.00;

 

(e) costs
incurred or accrued due to the willful act or negligence of the Landlord or anyone acting on behalf of the Landlord;

 

(f) costs
for which the Landlord is reimbursed by insurers or that are covered by warranties or guaranties;

 

(g) costs
incurred for repairs or maintenance for the direct account of another tenant or vacant space;

 

(h) costs
recovered directly from any other tenant or unit owner for separate charges including, without limitation, charges for heating,
ventilating, air condition and in respect of any act, omission, neglect or default of any other tenant or unit owner;

 

(i)
expenses incurred in leasing to or procuring of tenants, leasing commissions, advertising expenses and expenses for the
renovating of space for other tenants;

 

(j) interest
or principal payments on any mortgage or other indebtedness of Landlord;

 

(k) compensation
paid to any employee of Landlord above the grade of property manager;

 

(l) any
depreciation allowance or expense; or

 

(m) Operating
Expenses that are Tenant’s direct responsibility.

 

2.04      Change
in Tax Structure. If during the Term, a tax, assessment, excise or similar charge on the rents or profits from the Leased
Premises is levied against Landlord by any taxing authority as a substitute in whole or in part, or in addition to, property or
ad valorem taxes (a “Replacement Tax”), in addition to the Rent and other charges prescribed in this
Lease, the amount of the Replacement Tax will be included in Operating Expenses. In the event any Replacement Tax is levied directly
against Tenant, then Tenant shall be responsible for and shall pay same at such times and in such manner as the taxing authority
shall require.

 

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2.05         Increase
in Insurance Premiums. If an increase in any insurance premiums paid by Landlord for the Building or Project is caused by
Tenant’s use of the Leased Premises in a manner other than as set forth in Section 1.09, then Tenant shall pay as
Additional Rent the amount of such increase to Landlord.

 

2.06         Holding
Over. In the event that Tenant does not vacate the Leased Premises upon the expiration or earlier termination of this Lease
or of Tenant’s right to possess the Leased Premises hereunder, Tenant shall be a tenant at sufferance for the holdover period
and all of the terms and provisions of this Lease shall be applicable during that period, except that Tenant shall pay Landlord
as Base Rent for the period of such holdover an amount equal to two (2) times the Base Rent that would have been payable by Tenant
had the holdover period been a part of the original Term of this Lease. Tenant agrees to vacate and deliver the Leased Premises
to Landlord upon Tenant’s receipt of notice from Landlord to vacate. The Rent payable during the holdover period shall be
payable to Landlord on demand. No holding over by Tenant, whether with or without the consent of Landlord, shall operate to extend
the Term of this Lease.

 

2.07         Waiver
of Right to Contest Taxes. Tenant hereby waives any statutory or other right it may have to contest any taxes assessed against
the Leased Premises or to receive a copy of any reappraisal thereof.

 

ARTICLE 3.00
OCCUPANCY AND USE

 

3.01       Use.
Tenant warrants and represents to Landlord that the LeasedPremises shall be used and occupied only for the purpose as
set forth in Section 1.09. Subject to Landlord’s current security policies, Tenant shall have access to the Leased
Premises seven days per week, 24 hours per day, except due to emergencies, casualty, condemnation, temporary shut downs in order
to perform certain maintenance and repairs provided herein, and other similar causes. Tenant shall occupy the Leased Premises,
conduct its business in such a manner as is lawful.

 

3.02         Signs.
Landlord agrees that Tenant shall be allowed to erector install, at Tenant’s sole cost and expense, any additional
exterior signage on the Leased Premises not existing on Tenant’s acceptance of the Leased Premises, provided that such exterior
signage shall be in all respects approved in writing by Landlord with respect to location, size, materials, color, graphics, and
layout. Any such additional signage shall be constructed and maintained by Tenant at its sole cost and expense, in accordance
with any and all applicable restrictive covenants, approval rights of any existing property association, and any and all applicable
laws, ordinances, orders, rules, and regulations of all governmental entities and regulatory agencies (collectively, “Applicable
Laws”). Landlord agrees that its approval of any signage requested by Tenant shall not be unreasonably withheld
or delayed.

 

3.03       Compliance
with Laws, Rules and Regulations. Tenant, at its sole cost and expense, shall comply with all laws, ordinances, orders, rules
and regulations of state, federal, municipal, or other agencies or bodies having jurisdiction over use, condition, and occupancy
of the Leased Premises. Tenant must use and maintain the Leased Premises in a clean, careful, safe, and proper manner and in compliance
with all Applicable Laws, including Applicable Laws pertaining to health, safety, disabled persons, and the environment; provided,
however, that Tenant shall not be required to make any structural changes or repairs to the Leased Premises unless the need for
such structural changes or repairs is caused by Tenant, its agents, employees, invitees, or others for whom Tenant is responsible
pursuant to the terms and provisions of this Lease. Notwithstanding anything to the contrary contained elsewhere in this section,
it is expressly agreed and understood that Tenant’s obligation to comply with all Applicable Laws does not apply to any
violations of Applicable Laws that (a) were in effect and (b) were being violated or with which the Leased Premises was not in
compliance immediately prior to the time Tenant accepted the Leased Premises, including without limitation any existing environmental
contamination. Tenant will comply with the rules and regulations of the Leased Premises adopted by Landlord in its reasonable
discretion. All such rules and regulations and changes and amendments thereto will be sent by Landlord to Tenant in writing and
shall thereafter be carried out and observed by Tenant.

 

3.04       Warranty
of Possession. Landlord warrants that it has the right and authority to execute this Lease, and Tenant, upon payment of the
required rents and subject to the terms, conditions, covenants, and agreements contained in this Lease, shall have possession
of the Leased Premises during the full Term of this Lease as well as any extension or renewal thereof. Landlord shall not be responsible
for the acts or omissions of any other tenant or third party that may interfere with Tenant’s use and enjoyment of the Leased
Premises, provided, however, that Landlord agrees to utilize reasonable efforts in a good faith attempt to prevent any other Tenant
or third party from interfering with or continuing to interfere with Tenant’s use and enjoyment of the Leased Premises.

 

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3.05       Inspection.
Landlord or its authorized agents shall at any and all reasonable times have the right to enter the Leased Premises to inspect
the same, to supply janitorial service or any other service to be provided by Landlord, to show the Leased Premises to prospective
purchasers or tenants (which right to show the Leased Premises to prospective tenants shall be limited to the last one hundred
eighty [180] days of the Term of this Lease, as the same may have been extended hereunder), and to alter, improve, or repair the
Leased Premises or any other portion of the Project. Landlord shall at all times have and retain a key with which to unlock all
of the doors in, upon, and about the Leased Premises and upon Landlord’s request, Tenant shall immediately provide Landlord
with keys to all of the doors of the Leased Premises. Tenant shall not change Landlord’s lock system or in any other manner
prohibit Landlord from entering the Leased Premises. Landlord shall have the right to use any and all means that Landlord may
deem proper to open the Leased Premises in an emergency without liability therefor. Notwithstanding anything to the contrary contained
hereinabove, Landlord agrees to (a) utilize reasonable efforts (except in the event that an emergency either exists or reasonably
appears to exist or be imminent) to give Tenant twenty-four (24) hours advance notice of any intended entry by Landlord or its
agents or representatives upon the Leased Premises during regular business hours and (b) utilize reasonable efforts in a good
faith attempt to cause as little interruption and interference with Tenant’s conduct of business in the Leased Premises
as is reasonably practicable.

 

ARTICLE 4.00
UTILITIES AND SERVICE

 

4.01       Building
Services. So long as Tenant continues to occupy the Leased Premises and does not commit an event of default under this Lease,
and subject to the terms and provisions hereof, Landlord shall provide to Tenant the same utility service connections to the Leased
Premises as currently exist. If Tenant requires electricity in excess of the electricity Landlord must furnish under the preceding
sentence, Landlord, at Tenant’s expense, will make a reasonable effort to meet (but shall have no liability for failure
to meet) Tenant’s needs through the then existing feeders servicing the Leased Premises. Tenant shall pay the cost of all
utility services, including, but not limited to, initial connection charges, all charges for gas, electricity, water, sanitary
and storm sewer service, and for all electric lights. Landlord, not Tenant, will install any supplemental risers or wiring to
meet Tenant’s excess electrical requirements at Tenant’s sole cost and expense unless Landlord agrees to permit Tenant
to install same. Notwithstanding anything set forth in this Lease to the contrary, Tenant shall be solely liable and obligated
for, and shall make payment directly to the service provider for, any and all electrical power now or hereafter provided to the
Leased Premises and any and all janitorial and/or cleaning services utilized by Tenant in connection with the Leased Premises.

 

ARTICLE 5.00
REPAIRS AND MAINTENANCE

 

5.01       Landlord
Repairs. The services described in Section 4.01 (“Building Services”) and any repairs and
maintenance required of Landlord may be curtailed or interrupted as required by any Applicable Laws or because of the maintenance,
repair, replacement, or improvement of the equipment involved in furnishing such services or because of changes of the suppliers
of services or because of labor controversies, accidents, acts of God, or the elements or any other cause beyond Landlord’s
reasonable control. Landlord agrees to attempt in good faith to resume any curtailed or interrupted Building Services that Landlord
is obligated hereunder to provide after receipt of notice from Tenant advising Landlord of the affected services. Landlord shall
not be required to make any improvements, replacements, or repairs of any kind or character to the Leased Premises during the
Term of this Lease except as are set forth in this section. Landlord shall maintain only the electrical service to the Leased
Premises, down spouts, fire sprinkler system, lawn and landscaping, paint on the exterior of the Leased Premises, exterior doors,
roof, foundation, parking, sidewalk and drive areas, and the structural soundness of the exterior walls (excluding windows, window
glass, plate glass, and doors), except for damages caused by Tenant, its agents, employees, contractors, guests, and invitees,
which damage shall be repaired at Tenant’s sole cost and expense and which will constitute Additional Rent due hereunder
upon demand by Landlord therefor. Landlord’s costs of maintaining the items set forth in this section (save and except for
Landlord’s cost of maintaining the structural soundness, the roof, foundation, the exterior walls (excluding windows, window
glass, and plate glass) which costs shall be Tenant’s sole responsibility) shall constitute a portion of Operating Expenses
as defined in Section 2.03 and shall be subject to the Additional Rent provisions in Section 2.02. Notwithstanding
anything to the contrary contained elsewhere herein, Landlord agrees to utilize reasonable efforts to effectuate and promptly
complete any maintenance or repairs required to be performed by Landlord hereunder in a manner calculated to cause as little interruption
and interference with Tenant’s conduct of business and operations in the Leased Premises as is reasonably practicable. In
addition, if Landlord fails to perform any of its repair and maintenance obligations hereunder and such default is not cured by
Landlord in accordance within thirty (30) days of written notice of such failure, then Tenant shall have the right, but not the
obligation, to perform such repair and maintenance obligations as are reasonably necessary to either (a) prevent any damage to
Tenant’s inventory or other personal property and/or (b) obviate any material and adverse effects to Tenant’s business
operations resulting therefrom. Any and all reasonable costs and expenses paid or incurred by Tenant in performing any of Landlord’s
maintenance obligations in accordance with the terms, conditions, and requirements of the immediately preceding sentence shall
be paid by Landlord within fifteen (15) days after Landlord’s receipt from Tenant of an itemized statement describing the
repairs and/or maintenance performed.

 

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5.02       Tenant
Repairs. Except to the extent such maintenance is the obligation of Landlord under Section 5.01, Tenant shall,
at its sole cost and expense, maintain, repair, and replace all other parts of the Leased Premises and keep such Leased Premises
in good repair and condition, including, but not limited to, the electrical, plumbing, mechanical (including overhead door and
dock equipment), heating, ventilating, and air conditioning systems, dock bumpers. Tenant shall repair and pay for any damage
caused by any act or omission of Tenant or its agents, employees, invitees, licensees, or visitors. If the Leased Premises are
in a multi-occupancy Building or Project, Landlord reserves the right to perform, on Tenant’s behalf, lawn maintenance,
painting, and trash pick-up and removal; Tenant agrees to pay Landlord, as Additional Rent, Tenant’s pro rata share of the
cost of such services within ten (10) days from receipt of Landlord’s invoice, or Landlord may by monthly invoice direct
Tenant to prepay the estimated costs for the current calendar year, and such amount shall be adjusted annually. If Tenant fails
to make the repairs or replacements promptly as required herein within thirty (30) days of written notice of such failure, Landlord
may, at its option, make the repairs and replacements and the cost of such repairs and replacements shall be charged to Tenant
as Additional Rent and shall become due and payable by Tenant within fifteen (15) days from receipt of Landlord’s invoice.
Costs incurred under this section are the total responsibility of Tenant and do not constitute Operating Expenses as defined under
Section 2.03.

 

5.03       Request
for Repairs. All requests for repairs or maintenance that are Landlord’s responsibility pursuant to any provision of
this Lease must be made in writing to Landlord at Landlord’s address set forth in Section 1.08.

 

5.04       H
VAC. Tenant is responsible for the installation, replacement and repair of the heating, ventilation, and air conditioning
facilities for the Leased Premises (the “HVAC Unit(s)”), including without limitation the air distribution
system.

 

ARTICLE 6.00
ALTERATIONS AND IMPROVEMENTS

 

6.01       Acceptance
of Leased Premises. Tenant has accepted the Leased Premises as suitable for the purposes for which they are let. Landlord
granted Tenant the right to access the Leased Premises prior to the Commencement Date for the purpose of installing its tenant
improvements, fixtures and equipment.

 

6.02       Tenant
Improvements. Tenant shall not make or allow to be made any structural in or to the Leased Premises that affect the roof,
foundation or exterior walls without first notifying Landlord in writing and obtaining Landlord’s written consent, which
consent may in Landlord’s reasonable discretion be denied. Any permanent affixed alterations, physical additions, or improvements
to the Leased Premises made by Tenant shall become Landlord’s property upon termination of this Lease. This clause shall
not apply to equipment, racking or furniture owned by Tenant, which may be removed by Tenant at the end of the Term of this Lease
if Tenant is not then in default and if such equipment and furniture are not then subject to any other rights, liens, and interest
of Landlord. Additionally, at the end of the Term of this Lease, at Landlord’s option, Tenant shall remove such moveable
equipment or furniture or other personal property as Landlord may request. All property required to be removed pursuant to this
section not removed within by shall be conclusively presumed to have been abandoned by Tenant and Landlord may, at its option,
take over possession of such property declare the same to be the property of Landlord by written notice to Tenant at the address
provided.

 

ARTICLE 7.00
CASUALTY AND INSURANCE

 

7.01       Substantial
Destruction. If the Leased Premises should be totally destroyed by fire or other casualty, or if the Leased Premises should
be damaged so that rebuilding in Landlord’s reasonable opinion cannot reasonably be completed within one hundred eighty
(180) working days after the date of written notification by Tenant to Landlord of the destruction, this Lease shall, at either
party’s option exercised by written notice to the other party on or before that date that is thirty (30) days after the
damage or destruction, terminate, and the Rent shall be abated for the unexpired portion of the Lease, effective as of the date
of the written notification.

 

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7.02       Partial
Destruction. If the Leased Premises should be partially damaged by fire or other casualty, and rebuilding or repairs can reasonably
be completed in Landlord’s reasonable opinion within one hundred eighty (180) working days from the date of written notification
by Tenant to Landlord of the destruction, this Lease shall not terminate, and Landlord shall proceed with reasonable diligence
to rebuild or repair the Leased Premises (and any Common Elements (defined in the Condominium Declaration) necessary for their
operation) or other improvements to substantially the same condition in which they existed prior to the damage. If the Leased
Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, and the damage or destruction
was not caused or contributed to by act or negligence of Tenant or its agents, employees, invitees, or those for whom Tenant is
responsible, the Rent payable under this Lease during the period for which the Leased Premises are untenantable shall be adjusted
or abated to such an extent as may be fair and reasonable under the circumstances. In the event that Landlord fails to substantially
complete the necessary repairs or rebuilding within two hundred forty (240) working days from the date of written notification
by Tenant to Landlord of the destruction, Tenant may at its option terminate this Lease by delivering written notice of termination
to Landlord before such time as Landlord has substantially completed the repairs or rebuilding, whereupon all rights and obligations
under this Lease shall cease to exist. Notwithstanding anything set forth herein to the contrary, Landlord’s duty or obligation
to repair or rebuild the Leased Premises shall be limited to the extent, and only to the extent, of the insurance proceeds Landlord
actually receives, in connection with any such damage or destruction after deducting Landlord’s reasonable costs and expenses
in obtaining such insurance proceeds.

 

7.03       Insurance.
Tenant must procure and maintain throughout the Term of this Lease and any extensions or renewals thereof commercial general
liability insurance (including blanket contractual liability coverage), which shall cover any claims for bodily injury, death,
and/or property damage occurring in or resulting from any occurrence in the Leased Premises, including injury, death, and/or damage
caused by the condition of or any defect in the Leased Premises. The policies evidencing such insurance must be in broad form
satisfactory to Landlord, must name Landlord and its property management company as additional insureds, must be issued by insurance
companies acceptable to Landlord, and must afford immediate protection to the limit of not less than One Million Dollars ($1,000,000)
per occurrence and $2,000,000 aggregate with a deductible acceptable to Landlord. Tenant shall also deliver the policy or a certificate
evidencing the same to Landlord prior to occupying the Leased Premises or commencing the construction of any improvements therein,
and Tenant shall deliver a certificate of renewal from the applicable insurer at least thirty (30) days prior to the expiration
of the policy. Landlord shall at all times during the Term of this Lease maintain a policy or policies of insurance with the premiums
paid in advance, issued by and binding upon some solvent insurance company, insuring the Leased Premises against risk of direct
physical loss in an amount equal to the full replacement cost of the Leased Premises, structure and its improvements as of the
date of the loss; provided, Landlord shall not be obligated in any way or manner to insure any of Tenant’s personal property
(including, but not limited to, any furniture, machinery, goods or supplies) upon or within the Leased Premises, any fixtures
installed or paid for by Tenant upon or within the Leased Premises, or any improvements that Tenant may construct on the Leased
Premises. Landlord shall at times during the Term of this Lease maintain a policy or policies of general liability insurance with
the premiums paid in advance, issued by and binding upon some solvent insurance company, with respect to Landlord’s activities
in the Leased Premises, such insurance to afford minimum protection of not less than One Million Dollars ($1,000,000.00) per occurrence
and Two Million Dollars ($2,000,000) aggregate coverage of bodily injury, death, property damage, or a combination thereof. Landlord
shall not be required to maintain insurance against thefts within the Leased Premises. Tenant shall carry property insurance on
an all-risk extended coverage basis endorsed to provide 100% replacement cost coverage on all personal property and equipment
in the Leased Premises. Tenant shall have no right to claim the proceeds of any policy of insurance maintained by Landlord even
though the cost of such insurance is borne by Tenant as set forth in ARTICLE 2.00.

 

7.04       Waiver
of Subrogation. Anything in this Lease to the contrary notwithstanding, Landlord and Tenant hereby waive and release each
other of and from any and all right of recovery, claim, action, or cause of action, against each other, their agents, partners,
officers, and employees, for any loss or damage that may occur to the Leased Premises, or personal property within the Leased
Premises, by reason of fire, casualty, or the elements, regardless of cause or origin, including the negligence of Landlord or
Tenant and their agents, officers, partners, and employees. Landlord and Tenant agree immediately to give their respective insurance
companies that have issued policies of insurance covering risks of direct physical loss written notice of the terms of the mutual
waivers contained in this section, and to have the insurance policies properly endorsed, if necessary, to prevent the invalidation
of the insurance coverages by reason of the mutual waivers provided above. WITHOUT LIMITATION, LANDLORD AND TENANT INTEND THAT
THE FOREGOING RELEASES BY LANDLORD AND TENANT BE EFFECTIVE NOTWITHSTANDING ANY STRICT LIABILITY AND/OR NEGLIGENCE (BUT NOT GROSS
NEGLIGENCE OR WILLFUL MISCONDUCT) ON THE OTHER PARTY’S PART.

 

    	 	Page 7	 

     

    

 

7.05       Hold
Harmless. Tenant shall indemnify, defend and hold Landlord harmless of and from any loss, reasonable attorney’s fees,
expenses, claims, fines, suits, costs, and liability of every kind arising because of any bodily injury, death, and/or damage
to property occurring in or resulting from any occurrence in the Leased Premises during the Term of this Lease and any holdover
period save and except for any costs occasioned by the gross negligence or willful wrongful acts of Landlord or its agents or
employees. Landlord shall not be liable to Tenant, Tenant’s employees, agents, invitees, licensees, or visitors, or to any
other person, for any injury to person or damage to property on or about the Leased Premises caused by any act or omission of
Tenant or its agents, servants, or employees, or of any other person entering upon the Leased Premises under express or implied
invitation by Tenant, or caused by the improvements located on the Leased Premises becoming out of repair, the failure or cessation
of any service provided by Landlord (including security service and devices), or caused by leakage of gas, oil, water, or steam
or by electricity emanating from the Leased Premises. WITHOUT LIMITATION, LANDLORD AND TENANT INTEND AND AGREE THAT THE FOREGOING
INDEMNITIES AND RELEASES SHALL APPLY TO EACH INDEMNIFIED PARTY WITH RESPECT TO ANY LOSS, ATTORNEYS’ FEES, EXPENSES, CLAIMS,
FINES, SUITS, COSTS, AND LIABILITY OF EVERY KIND THAT IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF THE NEGLIGENCE OF SUCH
(AND/OR ANY OTHER) INDEMNIFIED PARTY.

 

ARTICLE 8.00
CONDEMNATION

 

8.01       Substantial
Taking. If all or a substantial part of the Leased Premises are taken for any public or quasi-public use under any governmental
law, ordinance, or regulation or by right of eminent domain or by purchase in lieu thereof, and the taking would prevent or materially
interfere with the use of the Leased Premises for the purpose for which it is then being used, this Lease shall at either party’s
option (exercised by written notice to the other party on or before that date that is thirty (30) days after the date the physical
possession is taken by the condemning authority) terminate and the rent shall be abated during the unexpired portion of this Lease
effective on the date physical possession is taken by the condemning authority. Tenant shall have no claim to the Landlord’s
condemnation award or proceeds in lieu thereof. Notwithstanding anything in this paragraph, Tenant shall have the right to recover
from the condemning authority, but not from Landlord, any compensation as may be separately awarded to Tenant on account of its
alterations to the Leased Premises, moving and relocation expenses and depreciation to and removal of Tenant’s physical
property and all other interest and property for which Tenant is entitled to compensation from such condemning authority under
common law or applicable statutes.

 

8.02       Partial
Taking. If a portion of the Leased Premises shall be taken for any public or quasi-public use under any governmental law,
ordinance, or regulation or by right of eminent domain or by purchase in lieu thereof, and this Lease is not terminated as provided
in Section 8.01 above, Landlord shall restore and reconstruct the Leased Premises (including all Common Elements (defined
in the Condominium Declaration) necessary for their operation) and other improvements on the Leased Premises to the extent necessary
to make it reasonably tenantable. The rent payable under this Lease during the unexpired portion of the Term shall be adjusted
to such an extent as may be fair and reasonable under the circumstances. Tenant shall have no claim to the condemnation award
or proceeds in lieu thereof. Notwithstanding anything set forth herein to the contrary, Landlord’s obligation to restore
and/or reconstruct the Leased Premises as provided in this Section shall be limited to the extent, and only to the extent, that
condemnation proceeds are actually received by Landlord in connection with any such taking after payment of all of Landlord’s
reasonable costs and expenses in obtaining such condemnation proceeds. Notwithstanding anything to the contrary contained hereinabove,
Tenant shall have the right to recover from the condemning authority, but not from Landlord, any compensation as may be separately
awarded to Tenant on account of its alterations to the Leased Premises, moving and relocation expenses and depreciation to and
removal of Tenant’s physical property and all other interest and property for which Tenant is entitled to compensation from
such condemning authority under common law or applicable statutes.

 

ARTICLE 9.00
ASSIGNMENT OR SUBLEASE

 

9.01       Landlord
Assignment. Landlord shall have the right to sell, transfer, or assign, in whole or in part, its rights and obligations under
this Lease and in the Leased Premises. Any such sale, transfer, or assignment shall operate to release Landlord from any and all
liabilities under this Lease arising after the date of such sale, assignment, or transfer. Additionally, Tenant shall continue
to make payment of all Rent and other amounts due and payable from Tenant to Landlord hereunder to the named Landlord at the address
set forth in Section 1.08 hereinabove until such time as Tenant receives an instrument executed by both the Landlord and
such transferee or assignee giving notice of such transfer or assignment and including instructions for the delivery of payments
and notices by Tenant to such transferee or assignee and affirming the assumption (by the transferee or assignee identified therein)
of all of Landlord’s obligations and responsibilities under the Lease that are properly due, performable, allocable, and
attributable to any period of time subsequent to the date of such transfer or conveyance.

    	 	Page 8	 

     

    

 

9.02       Tenant
Assignment. Tenant shall not assign, in whole or in part, this Lease, or allow it to be assigned, in whole or in part, by
operation of law or otherwise, or sublet the Leased Premises, in whole or in part, without Landlord’s prior written consent
and in no event shall any such assignment or sublease or any subsequent modification, termination, or other action or omission
pertaining to this Lease ever release Tenant or any guarantor from any obligation or liability hereunder. No permitted assignee
or subtenant of the Leased Premises or any portion thereof may assign or sublet the Leased Premises or any portion thereof. Notwithstanding
the foregoing provisions of this ARTICLE 9.00 to the contrary, Tenant may from time to time, without Landlord’s consent,
assign this Lease or sublet the Leased Premises, or any portion thereof, to any parent, subsidiary or affiliate of Tenant or any
subsidiary of the parent company of Tenant subsidiary of a parent corporation of either Tenant or the guarantor of this Lease
(hereinafter collectively referred to as a “Related Party”).

 

9.03       Subordination.
Tenant accepts this Lease subject and subordinate to any recorded mortgage or deed of trust lien presently existing or hereafter
created upon the Leased Premises and to all existing recorded restrictions, covenants, easements, and other agreements with respect
to the Lased Premises; provided, that the holder of any lien placed against the Leased Premises or any portion thereof to enter
into an agreement with Tenant making this Lease expressly subject and subordinate to such lien and all renewals, modifications,
consolidations, replacements, and extensions thereof, wherein the Tenant shall agree to attorn to the purchaser at any foreclosure
sale of such lien and such agreement shall contain a covenant binding upon the holder of such lien to the effect that, as long
as there shall be no event of default on the part of Tenant entitling Landlord to terminate this Lease, or if any such event of
default exists and the time in which to cure the event of default as contained herein shall not have expired, this Lease shall
not be terminated or modified in any respect whatsoever nor shall Tenant’s rights hereunder or its occupancy of the Leased
Premises be affected in any manner by reason of such lien or any foreclosure action or other proceeding that may be instituted
in connection therewith or in lieu thereof, The holder of any mortgage or deed of trust lien, or the ground lessor under any ground
lease, upon the Leased Premises is hereby irrevocably vested with full power and authority upon its election to subordinate its
interest in the Leased Premises to the Tenant’s interest under this Lease. Upon the request of the holder of any mortgage
or deed of trust lien, or the ground lessor under any ground lease, presently existing or hereafter created upon the Building
or Project, Tenant and Landlord agree to execute, within thirty (30) days following receipt of a written request therefor from
any such lienholder or ground lessor (as the case may be), such an agreement containing the aforesaid terms, together with such
additional changes as the lienholder or ground lessor may otherwise reasonably require.

 

9.04       Estoppel
Certificates. Tenant agrees to furnish, from time to time, within thirty (30) days after receipt of a request from Landlord
or its mortgagee, a statement certifying, if applicable, the following: Tenant is in possession of the Leased Premises; the Leased
Premises are acceptable; the Lease is in full force and effect; and the Tenant is not in default thereunder, the Lease is unmodified;
Tenant claims no present charge, lien, or claim of offset against Rent; the Rent is paid for the current month, but is not prepaid
for more than one (1) month and will not be prepaid for more than one (1) month in advance; there is no existing default by reason
of some act or omission by Landlord; and such other matters as may be reasonably required by Landlord or Landlord’s mortgagee.

 

ARTICLE 10.00
LIENS

 

10.01     Landlord’s
Lien. Landlord hereby irrevocably and fully waives any and all landlord’s liens it may have at law or in equity, it
may have in and to any of the property or inventory of Tenant, including without limitation all lien rights of Landlord arising
under Section 54.021 of the Texas Property Code.

 

ARTICLE 11.00
DEFAULT AND REMEDIES

 

11.01     Default
by Tenant. The following shall be deemed to be events of default by Tenant under this Lease: (a) Tenant shall fail to pay
when due any installment of Rent or any other payment required pursuant to this Lease and the failure is not cured within ten
(10) days after written notice thereof that it shall be deemed to be an event of default by Tenant under this Lease; (b) Tenant
shall fail to comply with any term, provision or covenant of this Lease, other than the payment of Rent, and the failure is not
cured within thirty (30) days after written notice to Tenant; or (c) Tenant shall file a petition or be adjudged bankrupt or insolvent
under any applicable federal or state bankruptcy or insolvency law; or a receiver or trustee shall be appointed for all or substantially
all of Tenant’s assets.

 

    	 	Page 9	 

     

    

 

11.02    Remedies
of Landlord. Upon the occurrence of any event of default set forth in this Lease in Section 11.01, Landlord shall
have the option, without any notice to Tenant (except as expressly provided below) and with or without judicial process, to pursue
any one or more of the remedies set forth herein below or such other remedies otherwise available to Landlord at law or in equity
without any notice or demand. (1) Landlord may enter upon and take custodial possession of the Leased Premises, by picking or
changing locks if necessary, and lock out or remove Tenant and any other person who may be occupying all or any part of the Leased
Premises without being liable for any claim for damages, and relet the Leased Premises on Tenant’s behalf and receive the
Rent directly by reason of the reletting. Tenant agrees to pay Landlord on demand any deficiency that may arise by reason of any
reletting of the Leased Premises; further, Tenant agrees to reimburse Landlord for any reasonable expenditures made by it in order
to relet the Leased Premises, including, but not limited to, remodeling and repair costs, advertising expenses and real estate
commissions. (2) Landlord may enter upon the Leased Premises, by picking or changing locks if necessary, without being liable
for any claim for damages, and do whatever Tenant is obligated to do under the terms of this Lease. Tenant agrees to reimburse
Landlord on demand for any expenses that Landlord may incur in effecting compliance with Tenant’s obligations under this
Lease; further, Tenant agrees that Landlord shall not be liable for any damages resulting to Tenant from effecting compliance
with Tenant’s obligations under this Lease. (3) Landlord may terminate this Lease, in which event Tenant shall immediately
surrender the Leased Premises to Landlord, and if Tenant fails to surrender the Leased Premises, Landlord may, without prejudice
to any other remedy that it may have for possession or arrearages in Rent, enter upon and take possession of the Leased Premises,
by picking or changing locks if necessary, and lock out, expel, or remove Tenant and any other person who may be occupying all
or any part of the Leased Premises without being liable for any claim for damages. Tenant agrees to pay on demand the amount of
all loss and damage that Landlord may suffer by reason of the termination of this Lease under this section, whether through inability
to relet the Leased Premises on satisfactory terms or otherwise. Notwithstanding anything contained in this Lease to the contrary,
this Lease may be terminated by Landlord only by mailing or delivering written notice of such termination to Tenant, and no other
act or omission of Landlord shall be construed as a termination of this Lease. No right or remedy herein conferred upon or reserved
to Landlord is intended to be exclusive of any other right or remedy set forth herein or otherwise available to Landlord at law
or in equity and each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder
or now or hereafter existing at law or in equity or by statute. In addition to the other remedies provided in this Lease and without
limiting the preceding sentence, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in
case of the violation, or attempted or threatened violation, of any of the covenants, agreements, conditions or provisions of
this Lease, or to a decree compelling performance of any of the covenants, agreements, conditions or provisions of this Lease,
or to any other remedy allowed to Landlord at law or in equity.

 

11.03    Default
by Landlord. All covenants of Tenant in the Lease are independent covenants, not conditioned upon Landlord’s satisfaction
of its obligations hereunder, except to the extent otherwise specifically provided herein. Tenant waives any statutory lien it
may have against the Rent due under this Lease or against Landlord’s property in Tenant’s possession. If Landlord
defaults in the performance of any of its obligations under this Lease, it will have thirty (30) days to cure any such default
after Tenant notifies Landlord in writing of the default; or except as expressly otherwise provided in this Lease, if the default
is of a nature to require more than thirty (30) days to remedy, Landlord will have the time reasonably necessary to cure it so
long as Landlord commences such cure within such initial thirty (30) day period and diligently prosecutes such cure. Whenever
a period of time is prescribed in the Lease for action to be taken by Landlord, Landlord will not be liable or responsible for,
and there shall be excluded from the computation for any such period of time, any delays due to strikes, riots, acts of God, shortages
of labor or materials, war, Applicable Laws, or any other causes of any kind whatsoever that are beyond Landlord’s control

 

ARTICLE 12.00
DEFINITIONS

 

12.01    Abandon.
 “Abandon” means the vacating of all or a substantial portion of the Leased Premises by Tenant, whether
or not Tenant is in default of the rental payments due under this Lease.

 

12.02    Association.
 “Association” means The 3201 Capital Blvd. Condominium Association, Inc.

 

12.03    Commencement
Date. “Commencement Date” shall be the date set forth in Section 1.03. The Commencement Date shall
constitute the commencement of the Term of this Lease for all purposes, including for payment of the Basic Rent. Notwithstanding
anything set forth in this Lease to the contrary, all possession and/or occupancy of the Leased Premises, the Building, and/or
the Project by Tenant prior to the Commencement Date shall be subject to all of the terms and provisions of this Lease.

 

    	 	Page 10	 

     

    

 

12.04     Condominium. “Condominium”
as used in this Lease means the Condominium described in Section
1.2, including the Leased Premises.

 

12.05     Effective
Date. “Effective Date” shall be the date set forth in Section 1.03. The Effective Date shall constitute
the commencement of this Lease for all purposes, whether or not Tenant has actually taken possession. Notwithstanding anything
set forth in this Lease to the contrary, all possession and/or occupancy of the Leased Premises, the Building, and/or the Project
by Tenant prior to the Effective Date shall be subject to all of the terms and provisions of this Lease, save and except only
those provisions requiring the payment of Rent.

 

12.06     Square
Feet. “Square feet” or “square foot” as used in this Lease includes the area
contained within the Leased Premises, which area shall include the exterior covered areas adjacent thereto.

 

ARTICLE
13.00 MISCELLANEOUS

 

13.01    Waiver.
Landlord’s failure to declare an event of default immediately upon its occurrence, or delay in taking any action in
connection with an event of default, shall not constitute a waiver of the default, but Landlord shall have the right to declare
the default at any time and take such action as is lawful or authorized under this Lease. Pursuit of any one or more of the remedies
set forth in ARTICLE 11.00 above shall not preclude pursuit of any one or more of the other remedies provided elsewhere
in this Lease or provided by law, nor shall pursuit of any remedy constitute forfeiture or waiver of any Rent or damages accruing
to Landlord by reason of the violation of any of the terms, provisions or covenants of this Lease. Landlord’s failure to
enforce one or more of the remedies provided upon an event of default shall not be deemed or construed to constitute a waiver
of the default or of any other violation or breach of any of the terms, provisions and covenants contained in this Lease.

 

13.02    Governing
Law and Attorneys’ Fees. This Lease shall be construed under and governed by the laws of the State of Texas. In the event
either party defaults in the performance of any of the terms, covenants, agreements, or conditions contained in this Lease and
the other party places in the hands of an attorney the enforcement of all or any part of this Lease, the collection of any Rent
due or to become due or recovery of the possession of the Leased Premises, the non-prevailing party agrees to pay the prevailing
party’s legal costs, including reasonable attorneys’ fees for the services of the attorney, whether suit is actually
filed or not.

 

13.03    Successors.
This Lease shall be binding upon and inure to the benefit of Landlord and Tenant and their respective heirs, personal representatives,
successors, and permitted assigns. It is hereby covenanted and agreed that should Landlord’s interest in the Leased Premises
cease to exist for any reason during the Term of this Lease, then notwithstanding the happening of such event (subject to the
terms and provisions of Section 9.01 hereof), this Lease nevertheless shall remain unimpaired and in full force and effect,
and Tenant hereunder agrees to attorn to the then owner of the Leased Premises.

 

13.04    Captions.
The captions appearing in this Lease are inserted only as a matter of convenience and in no way define, limit, construe, or
describe the scope or intent of any section.

 

13.05    Notices.
Notwithstanding any other provision to the contrary in this Lease or Section 13.05, all Rent and other payments required
to be made by Tenant under this Lease shall be (i) payable to Landlord at the address set forth in Section 1.08 or at any
other address within the United States as Landlord may specify from time to time by written notice, and (ii) deemed to be received
by Landlord exclusively upon Landlord’s actual receipt of any such payment from Tenant. All payments required to be made
by Landlord to Tenant shall be payable to Tenant at the address set forth in Section 1.08, or at any other address within
the United States as Tenant may specify from time to time by written notice. Any notice or document required or permitted to be
delivered by the terms of this Lease shall be deemed to be delivered (whether or not actually received) when (a) sent by personal
delivery, with proof of delivery, (b) sent by expedited delivery service, with proof of delivery, (c) sent by a nationally recognized
overnight courier service, with proof of delivery, (d) deposited with the United States Postal Service, postage prepaid, registered
or certified mail, return receipt requested, or (e) sent by facsimile transmission (with written confirmation of receipt), to
the fax telephone number listed in Section 1.08 (if any), addressed to the parties at the respective addresses set forth
in Section 1.08. After the Commencement Date, any notice or document required or permitted to be delivered by the terms
of this Lease may also be delivered to Tenant at the Leased Premises.

 

    	 	Page 11	 

     

    

 

13.06     Submission
of Lease. Submission of this Lease to Tenant for signature does not constitute an offer to lease, a reservation of space or
an option to lease. This Lease is not effective until execution by and delivery to both Landlord and Tenant.

 

13.07     Authority.
If Tenant executes this Lease as a legal entity (whether as a corporation, partnership, limited liability company or other
entity), each of the persons executing this Lease on Tenant’s behalf does hereby personally represent and warrant that Tenant
is a duly authorized and existing legal entity, that Tenant is qualified to do business in the state in which the Leased Premises
are located, that the legal entity has full right and authority to enter into this Lease, and that each person signing on behalf
of the legal entity is authorized to do so.

 

13.08     Severability.
If any provision of this Lease or the application thereof to any person or circumstance shall be invalid or unenforceable
to any extent, the remainder of this Lease and the application of such provisions to other persons or circumstances shall not
be affected thereby and shall be in force to the greatest extent permitted by law.

 

13.09     Landlord's
Liability. If Landlord shall be in default under this Lease and if, as a consequence of such default, Tenant shall recover
a money judgment against Landlord, such judgment shall be satisfied only out of Landlord’s right, title, and interest in
the Building as the same may then be encumbered and neither Landlord nor any person or entity comprising Landlord shall be liable
for a deficiency. In no event shall Tenant have the right to levy execution against any property of Landlord nor any person or
entity comprising Landlord other than its interest in the Building as herein expressly provided. Notwithstanding anything to the
contrary contained herein, in no event shall Landlord be liable for consequential or special damages for a breach of or default
under this Lease.

 

13.10     Brokers
and Indemnity. Tenant agrees to indemnify, defend and hold harmless Landlord from and against any liability or claim, whether
meritorious or not, arising with respect to any broker whose claim arises by, through, or on behalf of Tenant. Landlord agrees
to indemnify, defend and hold harmless Tenant from and against any liability or claim, whether meritorious or not, arising with
respect to any broker whose claim arises by, through, or on behalf of Landlord.

 

13.11     Financial
Covenants. Upon Landlord’s request from time to time, Tenant shall provide to Landlord copies of its most current financial
statements and such other financial information as Landlord may reasonably request (including information for any guarantor of
Tenant’s obligations under this Lease), provided that so long as no event of default has occurred Landlord shall not request
such statements and other financial information more than once in any twelve month period.

 

13.12     Texas
Property Code Section 93.012. Landlord and Tenant are knowledgeable and experienced in commercial transactions and agree that
each provision of this Lease for determining charges, amounts and Additional Rent payments by Tenant (including without limitation,
ARTICLE 2.00 of this Lease) is commercially reasonable, and as to each such charge or amount, constitutes a “method
by which the charge is to be computed” for purposes of Section 93.012 (Assessment of Charges) of the Texas Property
Code (as same may be amended).

 

13.13     Texas
Property Code Section 91.004. Tenant hereby waives any statutory lien provided under Section 91.004 of the Texas Property
Code (as same may be amended).

 

13.14     Anti-Terrorism
Representations. Tenant is not, and shall not during the Term become, a person or entity with whom Landlord is restricted
from doing business under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001, H.R. 3162, Public Law 107-56 (commonly known as the “USA Patriot Act”) and Executive
Order Number 13224 on Terrorism Financing, effective September 24, 2001 and regulations promulgated pursuant thereto (collectively,
“Anti-Terrorism Laws”), including without limitation, persons and entities named on the Office of Foreign Asset
Control Specially Designated Nationals and Blocked Persons List (collectively, “Prohibited Persons”). To the
best of its knowledge, Tenant is not currently engaged in any transactions or dealings, or otherwise associated with, any Prohibited
Persons in connection with the use or occupancy of the Leased Premises. Tenant will not in the future during the Term engage in
any transactions or dealings, or be otherwise associated with, any Prohibited Persons in connection with the use or occupancy
of the Leased Premises. Breach of these representations constitutes a material breach of this Lease and shall entitle Landlord
to any and all remedies available thereunder, or at law or in equity.

 

    	 	Page 12	 

     

    

 

13.15     LANDLORD
AND TENANT HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY CLAIM, ACTION, PROCEEDING OR COUNTERCLAIM BY EITHER LANDLORD OR
TENANT (OR ANY GUARANTOR OF TENANT'S OBLIGATIONS HEREUNDER) AGAINST THE OTHER(S) PERTAINING TO ANY MATTERS ARISING OUT OF OR
IN ANY WAY CONNECTED WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, OR TENANT'S USE OF THE LEASED
PREMISES.

 

ARTICLE
14.00 AMENDMENT AND LIMITATION OF WARRANTIES

 

14.01     Entire
Agreement. IT IS EXPRESSLY AGREED BY TENANT, AS A MATERIAL CONSIDERATION FOR THE EXECUTION OF THIS LEASE, THAT THIS LEASE,
WITH THE SPECIFIC REFERENCES TO WRITTEN EXTRINSIC DOCUMENTS, IS THE ENTIRE AGREEMENT OF THE PARTIES; THAT THERE ARE, AND WERE,
NO VERBAL REPRESENTATIONS, WARRANTIES, UNDERSTANDINGS, STIPULATIONS, AGREEMENTS, OR PROMISES PERTAINING TO THIS LEASE OR TO THE
EXPRESSLY MENTIONED WRITTEN EXTRINSIC DOCUMENTS NOT INCORPORATED IN WRITING IN THIS LEASE.

 

14.02     Amendment.
THIS LEASE MAY NOT BE ALTERED, WAIVED, AMENDED, OR EXTENDED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY LANDLORD AND TENANT.

 

14.03     Limitation
of Warranties. LANDLORD AND TENANT EXPRESSLY AGREE THAT THERE ARE AND SHALL BE NO IMPLIED WARRANTIES OF MERCHANTABILITY, HABITABILITY,
SUITABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR OF ANY OTHER KIND ARISING OUT OF THIS LEASE, AND THERE ARE NO WARRANTIES THAT
EXTEND BEYOND THOSE EXPRESSLY SET FORTH IN THIS LEASE.

 

ARTICLE
15.00 SCHEDULES, RIDERS, & EXHIBITS

 

The
following Schedules, Riders, and Exhibits are attached hereto and hereby made a part of this Lease for all purposes:

 

Schedule I – Rules and Regulations

Rider A – Renewal Option

Exhibit A – Condominium Plat

 

[Remainder
of Page Intentionally Left Blank]

 

    	 	Page 13	 

     

    

 

SIGNED on the respective
dates below the signatures, to be effective as of the later of such dates; provided, that if one signatory does not provide a
date, the effective date shall be that below the other signature.

 

	 	LANDLORD:
	 	 
	 	GLOBAL WELLS INVESTMENT
    GROUP LLC 
	 	 
	 	BY:	/s/ Alan Yu
	 	 	 
	 	Name:	Alan Yu
	 	 	 
	 	Title:	Manager
	 	 	 
	 	Date:	3/29/19

 

	 	TENANT:
	 	 
	 	LOLLICUP USA INC.
	 	 
	 	BY:	/s/
    Marvin Cheng
	 	 	 
	 	Name:	Marvin Cheng
	 	 	 
	 	Title:	 
	 	 	 
	 	Date: 	3/29/2019

 

[Signature Page to Standard
Commercial Lease]

 

    	 	Page 15	 

     

    

 

Rider
A

to
Standard Commercial Lease 

 

Renewal
Option

 

Tenant
shall have the option (the “Renewal Option”) of extending the Term of this Lease for four (4) additional
terms (the “Renewal Term”) of sixty (60) months on the same terms and conditions as provided in this
Lease; provided, however, that:

 

1.          Any
exercise of the Renewal Option hereby granted to Tenant shall be in writing delivered to Landlord not later than sixty (60) days
prior to the expiration of the originally scheduled Term (the “Extension Expiration Date”).

 

2.          The
Renewal Option hereby granted is not transferable or assignable except as provided herein, it being specifically understood that
such option may only be exercised by the original Tenant, and only in the event that at the time of commencement of the Renewal
Term the original Tenant is in possession of the Leased Premises and has not previously assigned this Lease or sublet any part
of the Leased Premises.

 

3.          Tenant
shall have no option to extend this Lease at any time when there exists any event of default by Tenant under this Lease or there
exits any event or circumstance which, with the lapse of time or the giving of notice, or both, would constitute an event of default
by Tenant under this Lease, and any notice given pursuant to subparagraph (1) above will be void if given at any such time.

 

Base
Rent will be increased as of the commencement of the Renewal Term by three percent (3%) over the base rent in effect for the immediately
preceding lease year, and shall be increased by three percent (3%) during at the commencement of the third year and the fifth year
of the Renewal Term.

 

    	 	Page 1	 

     

    

 

 

Exhibit
A 

to
Standard Commercial Lease

 

Condominium
Plat

 

[See
page(s) following]

 

    	 	Page 1Exhibit
10.5

 

AIR
COMMERCIAL REAL ESTATE ASSOCIATION

STANDARD
INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE — GROSS

(DO
NOT USE THIS FORM FOR MULTI-TENANT BUILDINGS)

 

1.           Basic
Provisions (“Basic Provisions”).

 

1.1          Parties:
This Lease (“Lease”), dated for reference purposes only February
6, 2013 is made by and between FIRST INDUSTRIAL, LP, A DELAWARE LIMITED PARTNERSHIP (“Lessor”) and LOLLICUP
USA, INC. A CALIFORNIA CORPORATION (“Lessee”), (collectively the “Parties,” or individually
a “Party”).

 

1.2          Premises:
That certain real property, including all improvements therein or to be provided by Lessor under the terms of this Lease,
and commonly known as 6185 KIMBALL AVENUE, CHINO, located in the County of SAN BERNARDINO, State of CALIFORNIA, and generally
described as (describe briefly the nature of the property and, if applicable, the “Project”, if the property
is located within a Project) APPROXIMATELY 300,300 SQUARE FOOT DISTRIBUTION BUILDING “Premises”). (See also
Paragraph 2)

 

1.3          Term:
6 years and 3 months (“Original Term”) commencing MAY 1, 2013
(“Commencement Date”) and ending JULY 31, 2019 (“Expiration Date”). (See also Paragraph
3)

 

1.4          Early
Possession: If the Premises are available Lessee may have non-exclusive possession of the Premises commencing UPON LEASE EXECUTION
AND INSURANCE REQUIRED PER SECT 8 (“Early Possession Date”). (See also Paragraphs 3.2
and 3.3)

 

1.5          Base
Rent: $138, 138.00 per month (“Base Rent”), payable on the 1ST day of each month commencing AUGUST 1ST,
2013. (See also Paragraph 4)

 

þ
If this box is checked, there are provisions in this Lease for
the Base Rent to be adjusted. See Paragraph RIDER

 

1.6          Base
Rent and Other Monies Paid Upon Execution:

 

(a)          Base
Rent: $138, 138.00 for the period AUGUST 1 - 31, 2013

 

(b)          Security
Deposit: $175, 000.00 (“Security Deposit”). (See also Paragraph 5)

 

(c)          Association
Fees: $________________________________ for the period ________________________________

 

(d)          Other:
$4,564.72 for Fire prevention, landscaping, HVAC and
management fee

 

(e)          Total
Due Upon Execution of this Lease: $317,702.72

 

1.7          Agreed
Use: WAREHOUSING, DISTRIBUTION AND RELATED OFFICE USE FOR VARIOUS PRODUCTS OR ANY OTHER USE ALLOWED BY LAW (See also Paragraph
6)

 

1.8          Insuring
Party: Lessor is the “Insuring Party”. The annual “Base Premium” is $33,033 (2013 ESTIMATE)
(See also Paragraph 8)

 

1.9          Real
Estate Brokers: (See also Paragraph 15 and 25)

 

(a)          Representation:
The following real estate brokers (the “Brokers”) and brokerage relationships exist in this transaction
(check applicable boxes):

 

þ
LEE & ASSOCIATES - PAUL EARNHART / STEVE HASTON represents
Lessor exclusively (“Lessor’s Broker”);

þ
COLDWELL BANKER COMMERCIAL - STEVE HAYASHI represents Lessee exclusively
(“Lessee’s Broker”); or

 ̈
_____________________________________________________ represents
both Lessor and Lessee (“Dual Agency”).

 

(b)          Payment
to Brokers: Upon execution and delivery of this Lease by both Parties, Lessor shall pay to the Brokers for the brokerage services
rendered by the Brokers the fee agreed to in the attached separate written agreement or if no such agreement is attached, the
sum of _________________ or _________________ % of the total Base Rent payable for the Original Term, the sum of _________________
or _________________ of the total Base Rent payable during any period of time that the Lessee occupies the Premises subsequent
to the Original Term, and/or the sum of _________________ or _________________% of the purchase price in the event that the Lessee
or anyone affiliated with Lessee acquires from Lessor any rights to the Premises

 

1.10        Guarantor.
The obligations of the Lessee under this Lease are to be guaranteed by N/A (“Guarantor”). (See also Paragraph
37)

 

1.11        Attachments.
Attached hereto are the following, all of which constitute a part of this Lease:

 

		 ̈	an
                                         Addendum consisting of Paragraphs through;

		 ̈	a
                                         plot plan depicting the Premises;

		 ̈	a
                                         current set of the Rules and Regulations;

		 ̈	a
                                         Work Letter;

		þ	other
                                         (specify): RIDER, EXHIBIT “A” and
                                         “B”

 

	 	 	 
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2.    
       Premises.

 

2.1           Letting.
Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the term, at the rental, and upon
all of the terms, covenants and conditions set forth in this Lease. While the approximate square footage of the Premises may have
been used in the marketing of the Premises for purposes of comparison, the Base Rent stated herein is NOT tied to square footage
and is not subject to adjustment should the actual size be determined to be different. Note: Lessee is advised to verify the
actual size prior to executing this Lease.

 

2.2           Condition.
Lessor shall deliver the Premises to Lessee broom clean and free of debris on the Commencement Date or the Early Possession
Date, whichever first occurs (“Start Date”), and, so long as the required service contracts described in Paragraph
7.1(b) below are obtained by Lessee and in effect within thirty days following the Start Date, warrants that the existing electrical,
plumbing, fire sprinkler, lighting, heating, ventilating and air conditioning systems (“HVAC”), loading doors,
sump pumps, if any, and all other such elements in the Premises, other than those constructed by Lessee, shall be in good operating
condition on said date and that the surface and structural elements of the roof, bearing walls and foundation of any buildings
on the Premises (the “Building”) shall be free of material defects, and that the Unit does not contain hazardous
levels of any mold or fungi defined as toxic under applicable state or federal law. If a non-compliance with said warranty exists
as of the Start Date, or if one of such systems or elements should malfunction or fail within the appropriate warranty period,
Lessor shall, as Lessor’s sole obligation with respect to such matter, except as otherwise provided in this Lease, promptly
after receipt of written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, malfunction
or failure, rectify same at Lessor’s expense. The warranty periods shall be as follows: (i) 6 months as to the HVAC systems,
and (ii) 30 days as to the remaining systems and other elements of the Building. If Lessee does not give Lessor the required notice
within the appropriate warranty period, correction of any such non-compliance, malfunction or failure shall be the obligation
of Lessee at Lessee’s sole cost and expense, except for the roof, foundations, and bearing walls which are handled as provided
in paragraph 7. Lessee hereby waives all rights under the provisions of Section 1941 and 1942 of the California
Civil Code to (i) cause the Lessor to make any replacements or repairs or take other actions in relation to the Premises,
(ii) make replacements or repairs or take other actions at Lessor’s expense or (iii) vacate the premises.

 

2.3           Compliance.
Lessor warrants that to the best of its knowledge the improvements on the Premises comply with the building codes, applicable
laws, covenants or restrictions of record, regulations, and ordinances (“Applicable Requirements”) that were
in effect at the time that each improvement, or portion thereof, was constructed. Said warranty does not apply to the use to which
Lessee will put the Premises, modifications which may be required by the Americans with Disabilities Act or any similar laws as
a result of Lessee’s use (see Paragraph 50), or to any Alterations or Utility Installations (as defined in Paragraph 7.3(a))
made or to be made by Lessee. NOTE: Lessee is responsible for determining whether or not the Applicable Requirements, and especially
the zoning, are appropriate for Lessee’s intended use, and acknowledges that past uses of the Premises may no longer be
allowed. If the Premises do not comply with said warranty, Lessor shall, except as otherwise provided, promptly after receipt
of written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, rectify the same at
Lessor’s expense. If Lessee does not give Lessor written notice of a non-compliance with this warranty within 6 months following
the Start Date, correction of that non-compliance shall be the obligation of Lessee at Lessee’s sole cost and expense. If
the Applicable Requirements are hereafter changed so as to require during the term of this Lease the construction of an addition
to or an alteration of the Premises and/or Building, the remediation of any Hazardous Substance, or the reinforcement or other
physical modification of the Unit, Premises and/or Building (“Capital Expenditure”), Lessor and Lessee shall
allocate the cost of such work as follows:

 

(a)          Subject
to Paragraph 2.3(c) below, if such Capital Expenditures are required as a result of the specific and unique use of the Premises
by Lessee as compared with uses by tenants in general, Lessee shall be fully responsible for the cost thereof, provided, however
that if such Capital Expenditure is required during the last 2 years of this Lease and the cost thereof exceeds 6 months’
Base Rent, Lessee may instead terminate this Lease unless Lessor notifies Lessee, in writing, within 10 days after receipt of
Lessee’s termination notice that Lessor has elected to pay the difference between the actual cost thereof and an amount
equal to 6 months’ Base Rent If Lessee elects termination, Lessee shall immediately cease the use of the Premises which
requires such Capital Expenditure and deliver to Lessor written notice specifying a termination date at least 90 days thereafter.
Such termination date shall, however, in no event be earlier than the last day that Lessee could legally utilize the Premises
without commencing such Capital Expenditure.

 

(b)          If
such Capital Expenditure is not the result of the specific and unique use of the Premises by Lessee (such as, governmentally mandated
seismic modifications), then Lessor shall pay for such Capital Expenditure and Lessee shall only be obligated to pay, each month
during the remainder of the term of this Lease or any extension thereof, on the date that on which the Base Rent is due, an amount
equal to 1/144th of the portion of such costs reasonably attributable to the Premises. Lessee shall pay Interest on the balance
but may prepay its obligation at any time. If, however, such Capita! Expenditure is required during the last 2 years of this Lease
or if Lessor reasonably determines that it is not economically feasible to pay its share thereof, Lessor shall have the option
to terminate this Lease upon 90 days prior written notice to Lessee unless Lessee notifies Lessor, in writing, within 10 days
after receipt of Lessor’s termination notice that Lessee will pay for such Capital Expenditure. If Lessor does not elect
to terminate, and fails to tender its share of any such Capital Expenditure, Lessee may advance such funds and deduct same, with
Interest, from Rent until Lessor’s share of such costs have been fully paid. If Lessee is unable to finance Lessor’s
share, or if the balance of the Rent due and payable for the remainder of this Lease is not sufficient to fully reimburse Lessee
on an offset basis, Lessee shall have the right to terminate this Lease upon 30 days written notice to Lessor.

 

(c)          Notwithstanding
the above, the provisions concerning Capital Expenditures are intended to apply only to non-voluntary, unexpected, and new Applicable
Requirements. If the Capital Expenditures are instead triggered by Lessee as a result of an actual or proposed change in use,
change in intensity of use, or modification to the Premises then, and in that event, Lessee shall either: (i) immediately cease
such changed use or intensity of use and/or take such other steps as may be necessary to eliminate the requirement for such Capital
Expenditure, or (ii) complete such Capital Expenditure at its own expense. Lessee shall not, however, have any right to terminate
this Lease.

 

2.4           Acknowledgements.
Lessee acknowledges that: (a) it has been given an opportunity to inspect and measure the Premises, (b) it has been advised
by Lessor and/or Brokers to satisfy itself with respect to the size and condition of the Premises (including but not limited to
the electrical, HVAC and fire sprinkler systems, security, environmental aspects, and compliance with Applicable Requirements
and the Americans with Disabilities Act), and their suitability for Lessee’s intended use, (c) Lessee has made such investigation
as it deems necessary with reference to such matters and assumes all responsibility therefor as the same relate to its occupancy
of the Premises, (d) it is not relying on any representation as to the size of the Premises made by Brokers or Lessor, (e) the
square footage of the Premises was not material to Lessee’s decision to lease the Premises and pay the Rent stated herein,
and (f) neither Lessor, Lessor’s agents, nor Brokers have made any oral or written representations or warranties with respect
to said matters other than as set forth in this Lease. In addition, Lessor acknowledges that: (i) Brokers have made no representations,
promises or warranties concerning Lessee’s ability to honor the Lease or suitability to occupy the Premises, and (ii) it
is Lessor’s sole responsibility to investigate the financial capability and/or suitability of all proposed tenants.

 

2.5           Lessee
as Prior Owner/Occupant. The warranties made by Lessor in Paragraph 2 shall be of no force or effect if immediately prior
to the Start Date Lessee was the owner or occupant of the Premises. In such event, Lessee shall be responsible for any necessary
corrective work.

 

3.    
       Term.

 

3.1           Term.
The Commencement Date, Expiration Date and Original Term of this Lease are as specified in Paragraph 1.3.

 

3.2           Early
Possession. Any provision herein granting Lessee Early Possession of the Premises is subject to and conditioned upon the Premises
being available for such possession prior to the Commencement Date. Any grant of Early Possession only conveys a non-exclusive
right to occupy the Premises. If Lessee totally or partially occupies the Premises prior to the Commencement Date, the obligation
to pay Base Rent shall be abated for the period of such Early Possession. All other terms of this Lease (including but not limited
to the obligations to pay Real Property Taxes and insurance premiums, utilities, fire monitoring, and to maintain the Premises)
shall be in effect during such period. Any such Early Possession shall not affect the Expiration Date.

 

3.3           Delay
In Possession. Lessor agrees to use its best commercially reasonable efforts to deliver possession of the Premises to Lessee
by the Commencement Date. If, despite said efforts, Lessor is unable to deliver possession by such date, Lessor shall not be subject
to any liability therefor, nor shall such failure affect the validity of this Lease or change the Expiration Date. Lessee shall
not, however, be obligated to pay Rent or perform its other obligations until Lessor delivers possession of the Premises and any
period of rent abatement that Lessee would otherwise have enjoyed shall run from the date of delivery of possession and continue
for a period equal to what Lessee would otherwise have enjoyed under the terms hereof, but minus any days of delay caused by the
acts or omissions of Lessee. If possession is not delivered within 60 days after the Commencement Date, as the same may be extended
under the terms of any Work Letter executed be Parties, Lessee may, at its option, by notice in writing within 10 days after the
end of such 60 day period, cancel this Lease, in which event the Parties shall be discharged from all obligations hereunder. If
such written notice is not received by Lessor within said 10 day period, Lessee’s right to cancel shall terminate. If possession
of the Premises is not delivered within 120 days after the Commencement Date, this Lease shall terminate unless other agreements
are reached between Lessor and Lessee, in writing. Lessee shall cooperate promptly and in good faith with Lessor in the completion
of Lessor’s Work, if any, including but not limited to, the selection of materials. Any delay caused by Lessee shall not
count as a delay in delivering possession of the Premises to Lessee. Lessor’s work required for Possession and Lease Commencement
shall be limited to items required by the City of Chino for a temporary Certificate of Occupancy.

 

	 	 	 
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3.4           Lessee
Compliance. Lessor shall not be required to deliver possession of the Premises to Lessee until Lessee complies with its obligation
to provide evidence of insurance (Paragraph 8.5). Pending delivery of such evidence, Lessee shall be required to perform all of
its obligations under this Lease from and after the Start Date, including the payment of Rent, notwithstanding Lessor’s
election to withhold possession pending receipt of such evidence of insurance. Further, if Lessee is required to perform any other
conditions prior to or concurrent with the Start Date, the Start Date shall occur but Lessor may elect to withhold possession
until such conditions are satisfied.

 

4.      
     Rent.

 

4.1.          Rent
Defined. All monetary obligations of Lessee to Lessor under the terms of this Lease (except for the Security Deposit) are
deemed to be rent (“Rent”).

 

4.2           Payment.
Lessee shall cause payment of Rent to be received by Lessor in lawful money of the United States, without offset or deduction
(except as specifically permitted in this Lease), on or before the day on which it is due. All monetary amounts shall be rounded
to the nearest whole dollar. In the event that any invoice prepared by Lessor is inaccurate such inaccuracy shall not constitute
a waiver and Lessee shall be obligated to pay the amount set forth in this Lease. Rent for any period during the term hereof which
is for less than one full calendar month shall be prorated based upon the actual number of days of said month. Payment of Rent
shall be made to Lessor at: BY MAIL: FIRST INDUSTRIAL, LP, PO BOX 31001-1927, PASADENA, CA 91110-1927 BY OVERNIGHT DELIVERY:
PNC BANK C/0 FIRST INDUSTRIAL LP, L0CKBOX NUMBER 911927, PASADENA TECH CENTER, 465 N. HALSTEAD STREET, SUITE 160, PASADENA, CA
911071; its address stated herein or to such other persons or place as Lessor may from time
to time designate in writing. Acceptance of a payment which is less than the amount then due shall not be a waiver of Lessor’s
rights to the balance of such Rent, regardless of Lessor’s endorsement of any check so stating. In the event that any check,
draft, or other instrument of payment given by Lessee to Lessor is dishonored for any reason, Lessee agrees to pay to Lessor the
sum of $25 in addition to any Late Charge and Lessor, at its option, may require all future payments to be made by Lessee to be
by cashier’s check. Payments will be applied first to accrued late charges and attorney’s fees, second to accrued
interest, then to Base Rent, insurance and Real Property Taxes, and any remaining amount to any other outstanding charges or costs.
Lessee hereby waives the provisions of Section 1950.7 of the California Civil Code.

 

4.3           Association
Fees. In addition to the Base Rent, Lessee shall pay to Lessor each month an amount equal to any owner’s
association or condominium fees levied or assessed against the Premises. Said monies shall be paid at the same time and in the
same manner as the Base Rent. Management fee in the amount of 3% of Base Rent then in effect.

 

5.          Security
Deposit. Lessee shall deposit with Lessor upon execution hereof the Security Deposit as security for Lessee’s faithful
performance of its obligations under this Lease. If Lessee fails to pay Rent, or otherwise Defaults under this Lease, Lessor may
use, apply or retain all or any portion of said Security Deposit for the payment of any amount already due Lessor, for Rents which
will be due in the future, and/ or to reimburse or compensate Lessor for any liability, expense, loss or damage which Lessor may
suffer or incur by reason thereof. If Lessor uses or applies all or any portion of the Security Deposit, Lessee shall within 10
days after written request therefor deposit monies with Lessor sufficient to restore said Security Deposit to the full amount
required by this Lease. If the Base Rent increases during the term of this Lease, Lessee shall, upon written request from Lessor,
deposit additional monies with Lessor so that the total amount of the Security Deposit shall at all times bear the same proportion
to the increased Base Rent as the initial Security Deposit bore to the initial Base Rent. Should the Agreed Use be amended to
accommodate a material change in the business of Lessee or to accommodate a sublessee or assignee, Lessor shall have the right
to increase the Security Deposit to the extent necessary, in Lessor’s reasonable judgment, to account for any increased
wear and tear that the Premises may suffer as a result thereof. If a change in control of Lessee occurs during this Lease and
following such change the financial condition of Lessee is, in Lessor’s reasonable judgment, significantly reduced, Lessee
shall deposit such additional monies with Lessor as shall be sufficient to cause the Security Deposit to be at a commercially
reasonable level based on such change in financial condition. Lessor shall not be required to keep the Security Deposit separate
from its general accounts. Within 90 days after the expiration or termination of this Lease, Lessor shall return that portion
of the Security Deposit not used or applied by Lessor. No part of the Security Deposit shall be considered to be held in trust,
to bear interest or to be prepayment for any monies to be paid by Lessee under this Lease.

 

6.      
     Use.

 

6.1          Use.
Lessee shall use and occupy the Premises only for the Agreed Use, or any other legal use which is reasonably comparable thereto,
and for no other purpose. Lessee shall not use or permit the use of the Premises in a manner that is unlawful, creates damage,
waste or a nuisance, or that disturbs occupants of or causes damage to neighboring premises or properties. Other than guide, signal
and seeing eye dogs, Lessee shall not keep or allow in the Premises any pets, animals, birds, fish, or reptiles. Lessor shall
not unreasonably withhold or delay its consent to any written request for a modification of the Agreed Use, so long as the same
will not impair the structural integrity of the improvements on the Premises or the mechanical or electrical systems therein,
and/or is not significantly more burdensome to the Premises. If Lessor elects to withhold consent, Lessor shall within 7 days
after such request give written notification of same, which notice shall include an explanation of Lessor’s objections to
the change in the Agreed Use.

 

6.2          Hazardous
Substances.

 

(a)          Reportable
Uses Require Consent. The term “Hazardous Substance” as used in this Lease shall mean any product, substance,
or waste whose presence, use, manufacture, disposal, transportation, or release, either by itself or in combination with other
materials expected to be on the Premises, is either; (i) potentially injurious to the public health, safety or welfare, the environment
or the Premises, (ii) regulated or monitored by any governmental authority, or (iii) a basis for potential liability of Lessor
to any governmental agency or third party under any applicable statute or common law theory. Hazardous Substances shall include,
but not be limited to, hydrocarbons, petroleum, gasoline, and/or crude oil or any products, by-products or fractions thereof.
Lessee shall not engage in any activity in or on the Premises which constitutes a Reportable Use of Hazardous Substances without
the express prior written consent of Lessor and timely compliance (at Lessee’s expense) with all Applicable Requirements.
“Reportable Use” shall mean (i) the installation or use of any above or below ground storage tank, (ii) the
generation, possession, storage, use, transportation, or disposal of a Hazardous Substance that requires a permit from, or with
respect to which a report, notice, registration or business plan is required to be filed with, any governmental authority, and/or
(iii) the presence at the Premises of a Hazardous Substance with respect to which any Applicable Requirements requires that a
notice be given to persons entering or occupying the Premises or neighboring properties. Notwithstanding the foregoing, Lessee
may use any ordinary and customary materials reasonably required to be used in the normal course of the Agreed Use, ordinary office
supplies (copier toner, liquid paper, glue, etc.) and common household cleaning materials, so long as such use is in compliance
with all Applicable Requirements, is not a Reportable Use, and does not expose the Premises or neighboring property to any meaningful
risk of contamination or damage or expose Lessor to any liability therefor. In addition, Lessor may condition its consent to any
Reportable Use upon receiving such additional assurances as Lessor reasonably deems necessary to protect itself, the public, the
Premises and/or the environment against damage, contamination, injury and/or liability, including, but not limited to, the installation
(and removal on or before Lease expiration or termination) of protective modifications (such as concrete encasements) and/or increasing
the Security Deposit.

 

(b)          Duty
to Inform Lessor. If Lessee knows, or has reasonable cause to believe, that a Hazardous Substance has come to be located in,
on, under or about the Premises, other than as previously consented to by Lessor, Lessee shall immediately give written notice
of such fact to Lessor, and provide Lessor with a copy of any report, notice, claim or other documentation which it has concerning
the presence of such Hazardous Substance.

 

(c)          Lessee
Remediation. Lessee shall not cause or permit any Hazardous Substance to be spilled or released in, on, under, or about the
Premises (including through the plumbing or sanitary sewer system) and shall promptly, at Lessee’s expense, comply with
all Applicable Requirements and take all investigatory and/or remedial action reasonably recommended, whether or not formally
ordered or required, for the cleanup of any contamination of, and for the maintenance, security and/or monitoring of the Premises
or neighboring properties, that was caused or materially contributed to by Lessee, or pertaining to or involving any Hazardous
Substance brought onto the Premises during the term of this Lease, by or for Lessee, or any third party.

 

(d)          Lessee
Indemnification. Lessee shall indemnify, defend and hold Lessor, its agents, employees, lenders and ground lessor, if any,
harmless from and against any and all loss of rents and/or damages, liabilities, judgments, claims, expenses, penalties, and attorneys’
and consultants’ fees arising out of or involving any Hazardous Substance brought onto the Premises by or for Lessee, or
any third party (provided, however, that Lessee shall have no liability under this Lease with respect to underground migration
of any Hazardous Substance under the Premises from adjacent properties not caused or contributed to by Lessee). Lessee’s
obligations shall include, but not be limited to, the effects of any contamination or injury to person, property or the environment
created or suffered by Lessee, and the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive
the expiration or termination of this Lease. No termination, cancellation or release agreement entered into by Lessor and Lessee
shall release Lessee from its obligations under this Lease with respect to Hazardous Substances, unless specifically so agreed
by Lessor in writing at the time of such agreement.

 

(e)          Lessor
Indemnification. Lessor and its successors and assigns shall indemnify, defend, reimburse and hold Lessee, its employees and
lenders, harmless from and against any and all environmental damages, including the cost of remediation, which result from Hazardous
Substances which existed on the Premises prior to Lessee’s occupancy or which are solely and directly caused by the gross
negligence or willful misconduct of Lessor, its agents or employees, except to the extent Lessee contributes to, or exacerbates,
the existence of any Hazardous Substances. Lessor’s obligations, as and when required by the Applicable Requirements, shall
include, but not be limited to, the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive
the expiration or termination of this Lease.

 

	 	 	 
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(f)          Investigations
and Remediations. Lessor shall retain the responsibility and pay for any investigations or remediation measures required by
governmental entities having jurisdiction with respect to the existence of Hazardous Substances on the Premises prior to Lessee’s
occupancy, unless such remediation measure is required as a result of Lessee’s use (including “Alterations”,
as defined in paragraph 7.3(a) below) of the Premises, or any act or omission of Lessee that contributes to. or
exacerbates, the existence or condition of any Hazardous Substances, in which event Lessee shall be responsible for such payment.
Lessee shall cooperate fully in any such activities at the request of Lessor, including allowing Lessor and Lessor’s agents
to have reasonable access to the Premises at reasonable times in order to carry out Lessor’s investigative and remedial
responsibilities.

 

(g)          Lessor
Termination Option. If a Hazardous Substance Condition (see Paragraph 9.1(e)) occurs during the term of this Lease, unless
Lessee is legally responsible therefor (in which case Lessee shall make the investigation and remediation thereof required by
the Applicable Requirements and this Lease shall continue in full force and effect, but subject to Lessor’s rights under
Paragraph 6.2(d) and Paragraph 13), Lessor may, at Lessor’s option, either (i) investigate and remediate such Hazardous
Substance Condition, if required, as soon as reasonably possible at Lessor’s expense, in which event this Lease shall continue
in full force and effect, or (ii) if the estimated cost to remediate such condition exceeds 12 times the then monthly Base Rent
or $100,000, whichever is greater, give written notice to Lessee, within 30 days after receipt by Lessor of knowledge of the occurrence
of such Hazardous Substance Condition, of Lessor’s desire to terminate this Lease as of the date 60 days following the date
of such notice. In the event Lessor elects to give a termination notice, Lessee may, within 10 days thereafter, give written notice
to Lessor of Lessee’s commitment to pay the amount by which the cost of the remediation of such Hazardous Substance Condition
exceeds an amount equal to 12 times the then monthly Base Rent or $100,000, whichever is greater. Lessee shall provide Lessor
with said funds or satisfactory assurance thereof within 30 days following such commitment. In such event, this Lease shall continue
in full force and effect, and Lessor shall proceed to make such remediation as soon as reasonably possible after the required
funds are available. If Lessee does not give such notice and provide the required funds or assurance thereof within the time provided,
this Lease shall terminate as of the date specified in Lessor’s notice of termination.

 

6.3          Lessee’s
Compliance with Applicable Requirements. Except as otherwise provided in this Lease, Lessee shall, at Lessee’s sole
expense, fully, diligently and in a timely manner, materially comply with all Applicable Requirements, the requirements of any
applicable fire insurance underwriter or rating bureau, and the recommendations of Lessor’s engineers and/or consultants
which relate in any manner to the such Requirements, without regard to whether such Requirements are now in effect or become effective
after the Start Date. Lessee shall, within 10 days after receipt of Lessor’s written request, provide Lessor with copies
of all permits and other documents, and other information evidencing Lessee’s compliance with any Applicable Requirements
specified by Lessor, and shall immediately upon receipt, notify Lessor in writing (with copies of any documents involved) of any
threatened or actual claim, notice, citation, warning, complaint or report pertaining to or involving the failure of Lessee or
the Premises to comply with any Applicable Requirements. Likewise, Lessee shall immediately give written notice to Lessor of:
(i) any water damage to the Premises and any suspected seepage, pooling, dampness or other condition conducive to the production
of mold; or (ii) any mustiness or other odors that might indicate the presence of mold in the Premises.

 

6.4          Inspection;
Compliance. Lessor and Lessor’s “Lender” (as defined in Paragraph 30) and consultants shall have
the right to enter into Premises at any time, in the case of an emergency, and otherwise at reasonable times after reasonable
notice, for the purpose of inspecting the condition of the Premises and or for verifying compliance by Lessee with this Lease
or as otherwise required by law or to comply with applicable law.. The cost of any such inspections shall be paid by Lessor, unless
a violation of Applicable Requirements, or a Hazardous Substance Condition (see paragraph 9.1) is found to exist or be imminent,
or the inspection is requested or ordered by a governmental authority. In such case, Lessee shall upon request reimburse Lessor
for the cost of such inspection, so long as such inspection is reasonably related to the violation or contamination. In addition,
Lessee shall provide copies of all relevant material safety data sheets (MSDS) to Lessor within 10 days of the receipt
of a written request therefor.

 

7. 
          Maintenance; Repairs; Utility Installations; Trade Fixtures and Alterations.

 

7.1          Lessee’s
Obligations.

 

(a)          In
General. Subject to the provisions of Paragraph 2.2 (Condition), 2.3 (Compliance), 6.3 (Lessee’s Compliance with Applicable
Requirements), 7.2 (Lessor’s Obligations), 9 (Damage or Destruction), and 14 (Condemnation), Lessee shall, at Lessee’s
sole expense, keep the Premises, Utility Installations (intended for Lessee’s exclusive use, no matter where located), and
Alterations in good order, condition and repair (whether or not the portion of the Premises requiring repairs, or the means of
repairing the same, are reasonably or readily accessible to Lessee, and whether or not the need for such repairs occurs as a result
of Lessee’s use, any prior use, the elements or the age of such portion of the Premises), including, but not limited to,
all equipment or facilities, such as plumbing, HVAC equipment, electrical, lighting facilities, boilers, pressure vessels, fire
protection system, fixtures, walls (interior and exterior), ceilings, floors, windows, doors, plate glass, skylights, landscaping,
driveways, parking lots, fences, retaining walls, signs, sidewalks and parkways located in, on, or adjacent to the Premises. Lessee
is also responsible for keeping the roof and roof drainage dean and free of debris. Lessor shall keep the surface and structural
elements of the roof, foundations, and bearing walls in good repair (see paragraph 7.2). Lessee, in keeping the Premises in good
order, condition and repair, shall exercise and perform good maintenance practices, specifically including the procurement and
maintenance of the service contracts required by Paragraph 7.1(b) below. Lessee’s obligations shall include restorations,
replacements or renewals when necessary to keep the Premises and all improvements thereon or a part thereof in good order, condition
and state of repair. Lessee shall, during the term of this Lease, keep the exterior appearance of the Building in a first-class
condition (including, e.g. graffiti removal) consistent with the exterior appearance of other similar facilities of comparable
age and size in the vicinity, including, when necessary, the exterior repainting of the Building.

 

(b)          Service
Contracts. Lessee shall, at Lessee’s sole expense, procure and maintain contracts, with copies to Lessor, in customary
form and substance for, and with contractors specializing and experienced in the maintenance of the following equipment and improvements,
if any, if and when installed on the Premises: (i) HVAC equipment, (ii) boiler, and pressure vessels, (iii) fire extinguishing
systems, including fire alarm and/or smoke detection, (iv) landscaping and irrigation systems, and (v) clarifiers. However, Lessor
reserves the right, upon notice to Lessee, to procure and maintain any or all of such service contracts, and Lessee shall reimburse
Lessor, upon demand, for the cost thereof.

 

(c)          Failure
to Perform. If Lessee fails to perform Lessee’s obligations under this Paragraph 7.1, Lessor may enter upon the Premises
after 10 days’ prior written notice to Lessee (except in the case of an emergency, in which case no notice shall be required),
perform such obligations on Lessee’s behalf, and put the Premises in good order, condition and repair, and Lessee shall
promptly pay to Lessor a sum equal to 115% of the cost thereof.

 

(d)          Replacement.
Subject to Lessee’s indemnification of Lessor as set forth in Paragraph 8.7 below, and without relieving Lessee of liability
resulting from Lessee’s failure to exercise and perform good maintenance practices, if an item described in Paragraph 7.1(b)
cannot be repaired other than at a cost which is in excess of 50% of the cost of replacing such item, then such item shall be
replaced by Lessor, and the cost thereof shall be prorated between the Parties and Lessee shall only be obligated to pay, each
month during the remainder of the term of this Lease, on the date on which Base Rent is due, an amount equal to the product of
multiplying the cost of such replacement by a fraction, the numerator of which is one, and the denominator of which is 144 (ie.
1/144th of the cost per month). Lessee shall pay Interest on the unamortized balance but may prepay its obligation at any time.

 

7.2          Lessor’s
Obligations. Subject to the provisions of Paragraphs 2.2 (Condition), 2.3 (Compliance), 9 (Damage or Destruction) and 14 (Condemnation),
it is intended by the Parties hereto that Lessor have no obligation, in any manner whatsoever, to repair and maintain the Premises,
or the equipment therein, all of which obligations are intended to be that of the Lessee, except for the surface and structural
elements of the roof, foundations and bearing walls, the repair of which shall be the responsibility of Lessor upon receipt of
written notice that such a repair is necessary. It is the intention of the Parties that the terms of this Lease govern the respective
obligations of the Parties as to maintenance and repair of the Premises, and they expressly waive the benefit of any statute now
or hereafter in effect to the extent it is inconsistent with the terms of this Lease.

 

7.3          Utility
Installations; Trade Fixtures; Alterations.

 

(a)          Definitions.
The term “Utility Installations” refers to all floor and window coverings, air and/or vacuum lines, power
panels, electrical distribution, security and fire protection systems, communication cabling, lighting fixtures, HVAC equipment,
plumbing, and fencing in or on the Premises. The term “Trade Fixtures” shall mean Lessee’s machinery
and equipment that can be removed without doing material damage to the Premises. The term “Alterations” shall
mean any modification of the improvements, other than Utility Installations or Trade Fixtures, whether by addition or deletion.
“Lessee Owned Alterations and/or Utility Installations” are defined as Alterations and/or Utility Installations
made by Lessee that are not yet owned by Lessor pursuant to Paragraph 7.4(a).

 

(b)          Consent.
Lessee shall not make any Alterations or Utility Installations to the Premises without Lessor’s prior written consent.
Lessee may, however, make non-structural Alterations or Utility Installations to the interior of the Premises (excluding the roof)
without such consent but upon notice to Lessor, as long as they are not visible from the outside, do not involve puncturing, relocating
or removing the roof or any existing walls, will not affect the electrical, plumbing, HVAC, and/or life safety systems, and the
cumulative cost thereof during this Lease as extended does not exceed a sum equal to 3 month’s Base Rent in the aggregate
or a sum equal to one month’s Base Rent in any one year. Notwithstanding the foregoing, Lessee shall not make or permit
any roof penetrations and/or install anything on the roof without the prior written approval of Lessor. Lessor may, as a precondition
to granting such approval, require Lessee to utilize a contractor chosen and/or approved by Lessor. Any Alterations or Utility
Installations that Lessee shall desire to make and which require the consent of the Lessor shall be presented to Lessor in written
form with detailed plans. Consent shall be deemed conditioned upon Lessee’s: (i) acquiring all applicable governmental permits,
(ii) furnishing Lessor with copies of both the permits and the plans and specifications prior to commencement of the work, and
(iii) compliance with all conditions of said permits and other Applicable Requirements in a prompt and expeditious manner. Any
Alterations or Utility Installations shall be performed in a workmanlike manner with good and sufficient materials. Lessee shall
promptly upon completion furnish Lessor with as-built plans and specifications. For work which costs an amount in excess of one
month’s Base Rent, Lessor may condition its consent upon Lessee providing a lien and completion bond in an amount equal
to 150% of the estimated cost of such Alteration or Utility installation and/or upon Lessee’s posting an additional Security
Deposit with Lessor.

 

	 	 	 
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(c)          Liens;
Bonds. Lessee shall pay, when due, all claims for labor or materials furnished or alleged to have been furnished to or for
Lessee at or for use on the Premises, which claims are or may be secured by any mechanic’s or materialmen’s lien against
the Premises or any interest therein. Lessee shall give Lessor not less than 10 days notice prior to the commencement of any work
in, on or about the Premises, and Lessor shall have the right to post notices of non-responsibility. If Lessee shall contest the
validity of any such lien, claim or demand, then Lessee shall, at its sole expense defend and protect itself, Lessor and the Premises
against the same and shall pay and satisfy any such adverse judgment that may be rendered thereon before the enforcement thereof.
If Lessor shall require, Lessee shall furnish a surety bond in an amount equal to 150% of the amount of such contested lien, claim
or demand, indemnifying Lessor against liability for the same. If Lessor elects to participate in any such action, Lessee shall
pay Lessor’s attorneys’ fees and costs.

 

7.4          Ownership;
Removal; Surrender; and Restoration.

 

(a)          Ownership.
Subject to Lessor’s right to require removal or elect ownership as hereinafter provided, all Alterations and Utility
Installations made by Lessee shall be the property of Lessee, but considered a part of the Premises. Lessor may, at any time,
elect in writing to be the owner of all or any specified part of the Lessee Owned Alterations and Utility Installations. Unless
otherwise instructed per paragraph 7.4(b) hereof, all Lessee Owned Alterations and Utility Installations shall, at the expiration
or termination of this Lease, become the property of Lessor and be surrendered by Lessee with the Premises.

 

(b)          Removal.
By delivery to Lessee of written notice from Lessor not earlier than 90 and not later than 30 days prior to the end of the
term of this Lease, Lessor may require that any or all Lessee Owned Alterations or Utility Installations be removed by the expiration
or termination of this Lease. Lessor may require the removal at any time of all or any part of any Lessee Owned Alterations or
Utility Installations made without the required consent.

 

(c)          Surrender;
Restoration. Lessee shall surrender the Premises by the Expiration Date or any earlier termination date, with all of the improvements,
parts and surfaces thereof broom clean and free of debris, and in good operating order, condition and state of repair, ordinary
wear and tear excepted. “Ordinary wear and tear” shall not include any damage or deterioration that would have been
prevented by good maintenance practice. Notwithstanding the foregoing, if this Lease is for 12 months or less, then Lessee shall
surrender the Premises in the same condition as delivered to Lessee on the Start Date with NO allowance for ordinary wear and
tear. Lessee shall repair any damage occasioned by the installation, maintenance or removal of Trade Fixtures, Lessee owned Alterations
and/or Utility Installations, furnishings, and equipment as well as the removal of any storage tank installed by or for Lessee.
Lessee shall completely remove from the Premises any and all Hazardous Substances brought onto the Premises by or for Lessee,
or any third party (except Hazardous Substances which were deposited via underground migration from areas outside of the Premises)
even if such removal would require Lessee to perform or pay for work that exceeds statutory requirements. Trade Fixtures shall
remain the property of Lessee and shall be removed by Lessee. Any personal property of Lessee not removed on or before the Expiration
Date or any earlier termination date shall be deemed to have been abandoned by Lessee and may be disposed of or retained by Lessor
as Lessor may desire. The failure by Lessee to timely vacate the Premises pursuant to this Paragraph 7.4(c) without the express
written consent of Lessor shall constitute a holdover under the provisions of Paragraph 26 below.

 

8.        
   Insurance; Indemnity.

 

8.1          Payment
of Premium Increases.

 

(a)          Lessee
shall pay to Lessor any insurance cost increase (“Insurance Cost Increase”) occurring during the term of this
Lease. Insurance Cost Increase is defined as any increase in the actual cost of the insurance required under Paragraph 8.2(b),
8.3(a) and 8.3(b) (“Required Insurance”), over and above the Base Premium as hereinafter defined calculated
on an annual basis. Insurance Cost Increase shall include but not be limited to increases resulting from the nature of Lessee’s
occupancy, any act or omission of Lessee, requirements of the holder of mortgage or deed of trust covering the Premises, increased
valuation of the Premises and/or a premium rate increase. The parties are encouraged to fill in the Base Premium in paragraph
1.8 with a reasonable premium for the Required Insurance based on the Agreed Use of the Premises. If the parties fail to insert
a dollar amount in Paragraph 1.8, then the Base Premium shall be the lowest annual premium reasonably obtainable for the Required
insurance as of the commencement of the Original Term for the Agreed Use of the Premises. In no event, however, shall Lessee be
responsible for any portion of the increase in the premium cost attributable to liability insurance carried by Lessor under Paragraph
8.2(b) in excess of $2,000,000 per occurrence.

 

(b)          Lessee
shall pay any such Insurance Cost Increase to Lessor within 30 days after receipt by Lessee of a copy of the premium statement
or other reasonable evidence of the amount due. If the insurance policies maintained hereunder cover other property besides the
Premises, Lessor shall also deliver to Lessee a statement of the amount of such Insurance Cost Increase attributable only to the
Premises showing in reasonable detail the manner in which such amount was computed. Premiums for policy periods commencing prior
to, or extending beyond the term of this Lease, shall be prorated to correspond to the term of this Lease.

 

8.2          Liability
Insurance.

 

(a)          Carried
by Lessee. Lessee shall obtain and keep in force a Commercial General Liability policy of insurance protecting Lessee and
Lessor as an additional insured against claims for bodily injury, personal injury and property damage based upon or arising out
of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto. Such insurance shall be on
an occurrence basis providing single limit coverage in an amount not less than $1,000,000 per occurrence with an annual aggregate
of not less than $2,000,000. Lessee shall add Lessor as an additional insured by means of an endorsement at least as broad as
the Insurance Service Organization’s “Additional Insured-Managers or Lessors of Premises” Endorsement. The policy
shall not contain any intra-insured exclusions as between insured persons or organizations, but shall include coverage for liability
assumed under this Lease as an “insured contract” for the performance of Lessee’s indemnity obligations
under this Lease. The limits of said insurance shall not, however, limit the liability of Lessee nor relieve Lessee of any obligation
hereunder. Lessee shall provide an endorsement on its liability policy(ies) which provides that its insurance shall be primary
to and not contributory with any similar insurance carried by Lessor, whose insurance shall be considered excess insurance only.

 

(b)          Carried
by Lessor. Lessor shall maintain liability insurance as described in Paragraph 8.2(a), in addition to, and not in lieu of,
the insurance required to be maintained by Lessee. Lessee shall not be named as an additional insured therein.

 

8.3          Property
Insurance - Building, Improvements and Rental Value.

 

(a)          Building
and Improvements. The Insuring Party shall obtain and keep in force a policy or policies in the name of Lessor, with loss
payable to Lessor, any ground-lessor, and to any Lender insuring loss or damage to the Premises. The amount of such insurance
shall be equal to the full insurable replacement cost of the Premises, as the same shall exist from time to time, or the amount
required by any Lender, but in no event more than the commercially reasonable and available insurable value thereof. Lessee Owned
Alterations and Utility Installations, Trade Fixtures, and Lessee’s personal property shall be insured by Lessee not by
Lessor. If the coverage is available and commercially appropriate, such policy or policies shall insure against all risks of direct
physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender or included in the Base Premium),
including coverage for debris removal and the enforcement of any Applicable Requirements requiring the upgrading, demolition,
reconstruction or replacement of any portion of the Premises as the result of a covered loss. Said policy or policies shall also
contain an agreed valuation provision in lieu of any coinsurance clause, waiver of subrogation, and inflation guard protection
causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S. Department
of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located. If such insurance
coverage has a deductible clause, the deductible amount shall not exceed $5,000 per occurrence, and Lessee shall be liable for
such deductible amount in the event of an Insured Loss.

 

(b)          Rental
Value. The Insuring Party shall obtain and keep in force a policy or policies in the name of Lessor with loss payable to Lessor
and any Lender, insuring the loss of the full Rent for one year with an extended period of indemnity for an additional 180 days
(“Rental Value insurance”). Said insurance shall contain an agreed valuation provision in lieu of any coinsurance
clause, and the amount of coverage shall be adjusted annually to reflect the projected Rent otherwise payable by Lessee, for the
next 12 month period. Lessee shall be liable for any deductible amount in the event of such loss.

 

(c)          Adjacent
Premises. If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to
the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if
said increase is caused by Lessee’s acts, omissions, use or occupancy of the Premises.

 

8.4          Lessee’s
Property; Business Interruption Insurance; Worker’s Compensation Insurance.

 

(a)          Property
Damage. Lessee shall obtain and maintain insurance coverage on all of Lessee’s personal property, Trade Fixtures, and
Lessee Owned Alterations and Utility Installations. Such insurance shall be full replacement cost coverage with a deductible of
not to exceed $1,000 per occurrence. The proceeds from any such insurance shall be used by Lessee for the replacement of personal
property, Trade Fixtures and Lessee Owned Alterations and Utility Installations. Lessee shall provide Lessor with written evidence
that such insurance is in force.

 

(b)          Business
Interruption. Lessee shall obtain and maintain loss of income and extra expense insurance in amounts as will reimburse Lessee
for direct or indirect loss of earnings attributable to all perils commonly insured against by prudent lessees in the business
of Lessee or attributable to prevention of access to the Premises as a result of such perils.

 

(c)          Worker’s
Compensation insurance. Lessee shall obtain and maintain Worker’s Compensation Insurance in such amount as may be required
by Applicable Requirements.

 

	 	 	 
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(d)          No
Representation of Adequate Coverage. Lessor makes no representation that the limits or forms of coverage of insurance specified
herein are adequate to cover Lessee’s property, business operations or obligations under this Lease.

 

8.5          Insurance
Policies. Insurance required herein shall be by companies maintaining during the policy term a “General Policyholders
Rating” of at least A-, VII, as set forth in the most current issue of “Best’s Insurance Guide”, or such
other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required
insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or
certificates with copies of the required endorsements evidencing the existence and amounts of the required insurance. No such
policy shall be cancelable or subject to modification except after 30 days prior written notice to Lessor. Lessee shall, at least
10 days prior to the expiration of such policies, furnish Lessor with evidence of renewals or “insurance binders”
evidencing renewal thereof, or Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable
by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of
this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it,
the other Party may, but shall not be required to, procure and maintain the same.

 

8.6          Waiver
of Subrogation. Without affecting any other rights or remedies, Lessee and Lessor each hereby release and relieve the other,
and waive their entire right to recover damages against the other, for loss of or damage to its property arising out of or incident
to the perils required to be insured against herein. The effect of such releases and waivers is not limited by the amount of insurance
carried or required, or by any deductibles applicable hereto. The Parties agree to have their respective property damage insurance
carriers waive any right to subrogation that such companies may have against Lessor or Lessee, as the case may be, so long as
the insurance is not invalidated thereby.

 

8.7          Indemnity.
Except for Lessor’s gross negligence or willful misconduct, Lessee shall indemnify, protect, defend and hold harmless
the Premises, Lessor and its agents, Lessor’s master or ground lessor, partners and Lenders, from and against any and all
claims, loss of rents and/or damages, liens, judgments, penalties, attorneys’ and consultants’ fees, expenses and/or
liabilities arising out of, involving, or in connection with, the use and/or occupancy of the Premises by Lessee. If any action
or proceeding is brought against Lessor by reason of any of the foregoing matters, Lessee shall upon notice defend the same at
Lessee’s expense by counsel reasonably satisfactory to Lessor and Lessor shall cooperate with Lessee in such defense. Lessor
need not have first paid any such claim in order to be defended or indemnified.

 

8.8          Exemption
of Lessor and its Agents from Liability. Notwithstanding the negtigence or breach of this Lease by Lessor or its agents, neither
Lessor nor its agents shall be liable under any circumstances for: (i) injury or damage to the person or goods, wares, merchandise
or other property of Lessee, Lessee’s employees, contractors, invitees, customers, or any other person in or about the Premises,
whether such damage or injury is caused by or results from fire, steam, electricity, gas, water or rain, indoor air quality, the
presence of mold or from the breakage, leakage, obstruction or other defects of pipes, fire sprinklers, wires, appliances, plumbing,
HVAC or lighting fixtures, or from any other cause, whether the said injury or damage results from conditions arising upon the
Premises or upon other portions of the building of which the Premises are a part, or from other sources or places, (ii) any damages
arising from any act or neglect of any other tenant of Lessor or from the failure of Lessor or its agents to enforce the provisions
of any other lease in the Project, or (iii) injury to Lessee’s business or for any loss of income or profit therefrom. Instead,
it is intended that Lessee’s sole recourse in the event of such damages or injury be to file a claim on the insurance policy(ies)
that Lessee is required to maintain pursuant to the provisions of paragraph 8.

 

8.9          Failure
to Provide Insurance. Lessee acknowledges that any failure on its part to obtain or maintain the insurance required herein
will expose Lessor to risks and potentially cause Lessor to incur costs not contemplated by this Lease, the extent of which will
be extremely difficult to ascertain. Accordingly, for any month or portion thereof that Lessee does not maintain the required
insurance and/or does not provide Lessor with the required binders or certificates evidencing the existence of the required insurance,
the Base Rent shall be automatically increased, without any requirement for notice to Lessee, by an amount equal to 10% of the
then existing Base Rent or $100, whichever is greater. The parties agree that such increase in Base Rent represents fair and reasonable
compensation for the additional risk/ costs that Lessor will incur by reason of Lessee’s failure to maintain the required
insurance. Such increase in Base Rent shall in no event constitute a waiver of Lessee’s Default or Breach with respect to
the failure to maintain such insurance, prevent the exercise of any of the other rights and remedies granted hereunder, nor relieve
Lessee of its obligation to maintain the insurance specified in this Lease.

 

9.    
       Damageor Destruction.

 

9.1          Definitions.

 

(a)          “Premises
Partial Damage” shall mean damage or destruction to the improvements on the Premises, other than Lessee Owned Alterations
and Utility Installations, which can reasonably be repaired in 6 months or less from the date of the damage or destruction. Lessor
shall notify Lessee in writing within 30 days from the date of the damage or destruction as to whether or not the damage is Partial
or Total. Notwithstanding the foregoing, Premises Partial Damage shall not include damage to windows, doors, and/or other similar
items which Lessee has the responsibility to repair or replace pursuant to the provisions of Paragraph 7.1.

 

(b)          “Premises
Total Destruction” shall mean damage or destruction to the Premises, other than Lessee Owned Alterations and Utility
installations and Trade Fixtures, which cannot reasonably be repaired in 6 months or less from the date of the damage or destruction.
Lessor shall notify Lessee in writing within 30 days from the date of the damage or destruction as to whether or not the damage
is Partial or Total.

 

(c)          “Insured
Loss” shall mean damage or destruction to improvements on the Premises, other than Lessee Owned Alterations and Utility
Installations and Trade Fixtures, which was caused by an event required to be covered by the insurance described in Paragraph
8.3(a), irrespective of any deductible amounts or coverage limits involved.

 

(d)          “Replacement
Cost” shall mean the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their
condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of
Applicable Requirements, and without deduction for depreciation.

 

(e)          “Hazardous
Substance Condition” shall mean the occurrence or discovery of a condition involving the presence of, or a contamination
by, a Hazardous Substance, in, on, or under the Premises which requires restoration.

 

9.2          Partial
Damage - Insured Loss. If a Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor’s expense,
repair such damage (but not Lessee’s Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably
possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor’s election,
make the repair of any damage or destruction the total cost to repair of which is $10,000 or less, and, in such event, Lessor
shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing,
if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party
shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee’s responsibility) as and
when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique
nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall
have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless
Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within 10 days following receipt of written
notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 day period,
the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in
full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee
within 10 days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage
in proceeds, in which case this Lease shall remain in full force and effect, or (ii) have this Lease terminate 30 days thereafter.
Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises
Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance
coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

 

9.3          Partial
Damage - Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or
willful act of Lessee (in which event Lessee shall make the repairs at Lessee’s expense), Lessor may either: (i) repair
such damage as soon as reasonably possible at Lessor’s expense, in which event this Lease shall continue in full force and
effect, or (ii) terminate this Lease by giving written notice to Lessee within 30 days after receipt by Lessor of knowledge of
the occurrence of such damage. Such termination shall be effective 60 days following the date of such notice. In the event Lessor
elects to terminate this Lease, Lessee shall have the right within 10 days after receipt of the termination notice to give written
notice to Lessor of Lessee’s commitment to pay for the repair of such damage without reimbursement from Lessor. Lessee shall
provide Lessor with said funds or satisfactory assurance thereof within 30 days after making such commitment. In such event this
Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after
the required funds are available. If Lessee does not make the required commitment, this Lease shall terminate as of the date specified
in the termination notice.

 

9.4          Total
Destruction. Notwithstanding any other provision hereof, if a Premises Total Destruction occurs, this Lease shall terminate
60 days following such Destruction. If the damage or destruction was caused by the gross negligence or willful misconduct of Lessee,
Lessor shall have the right to recover Lessor’s damages from Lessee, except as provided in Paragraph 8.6.

 

	 	 	 
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9.5          Damage
Near End of Term. If at any time during the last 6 months of this Lease there is damage for which the cost to repair exceeds
one month’s Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date
of occurrence of such damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such
damage. Notwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the
Premises, then Lessee may preserve this Lease by, (a) exercising such option and (b) providing Lessor with any shortage in insurance
proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 10 days
after Lessee’s receipt of Lessor’s written notice purporting to terminate this Lease, or (ii) the day prior to the
date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or
adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s commercially reasonable
expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails
to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified
in the termination notice and Lessee’s option shall be extinguished.

 

9.6          Abatement
of Rent; Lessee’s Remedies.

 

(a)          Abatement.
In the event of Premises Partial Damage or Premises Total Destruction or a Hazardous Substance Condition for which Lessee
is not responsible under this Lease, the Rent payable by Lessee for the period required for the repair, remediation or restoration
of such damage shall be abated in proportion to the degree to which Lessee’s use of the Premises is impaired, but not to
exceed the proceeds received from the Rental Value insurance. All other obligations of Lessee hereunder shall be performed by
Lessee, and Lessor shall have no liability for any such damage, destruction, remediation, repair or restoration except as provided
herein.

 

(b)          Remedies.
If Lessor is obligated to repair or restore the Premises and does not commence, in a substantial and meaningful way, such
repair or restoration within 90 days after such obligation shall accrue, Lessee may, at any time prior to the commencement of
such repair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice, of Lessee’s
election to terminate this Lease on a date not less than 60 days following the giving of such notice. If Lessee gives such notice
and such repair or restoration is not commenced within 30 days thereafter, this Lease shall terminate as of the date specified
in said notice. If the repair or restoration is commenced within such 30 days, this Lease shall continue in full force and effect.
 “Commence” shall mean either the unconditional authorization of the preparation of the required plans, or the
beginning of the actual work on the Premises, whichever first occurs.

 

9.7          Termination;
Advance Payments. Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall
be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return
to Lessee so much of Lessee’s Security Deposit as has not been, or is not then required to be, used by Lessor.

 

9.8          Lessee
waives and releases all statutory rights and remedies in favor of Lessee in the event of damage or destruction, including, without
limitation, those available under California Civil Code Sections 1932 and 1933(4)/

 

10.  
        Real Property Taxes.

 

10.1         Definition.
As used herein, the term “Real Property Taxes” shall include any form of assessment; real estate, general,
special, ordinary or extraordinary, or rental levy or tax (other than inheritance, personal income or estate taxes); improvement
bond; and/or license fee imposed upon or levied against any legal or equitable interest of Lessor in the Premises or the Project,
Lessor’s right to other income therefrom, and/or Lessor’s business of leasing, by any authority having the direct
or indirect power to tax and where the funds are generated with reference to the Building address and where the proceeds so generated
are to be applied by the city, county or other local taxing authority of a jurisdiction within which the Premises are located.
Real Property Taxes shall also include any tax, fee, levy, assessment or charge, or any increase therein: (i) imposed by reason
of events occurring during the term of this Lease, including but not limited to, a change in the ownership of the Premises, and
(ii) levied or assessed on machinery or equipment provided by Lessor to Lessee pursuant to this Lease.

 

10.2

 

(a)          Payment
of Taxes. Lessor shall pay the Real Property Taxes applicable to the Premises provided, however, that Lessee shall pay to
Lessor the amount, if any, by which Real Property Taxes applicable to the Premises increase over the fiscal tax year during which
the Commencement Date Occurs (“Tax Increase”). Payment of any such Tax Increase shall be made by Lessee to Lessor
within 30 days after receipt of Lessor’s written statement setting forth the amount due and computation thereof. If any
such taxes shall cover any period of time prior to or after the expiration or termination of this Lease, Lessee’s share
of such taxes shall be prorated to cover only that portion of the tax bill applicable to the period that this Lease is in effect.
In the event Lessee incurs a late charge on any Rent payment, Lessor may estimate the current Real Property Taxes, and require
that the Tax Increase be paid in advance to Lessor by Lessee monthly in advance with the payment of the Base Rent. Such monthly
payment shall be an amount equal to the amount of the estimated installment of the Tax Increase divided by the number of months
remaining before the month in which said installment becomes delinquent. When the actual amount of the applicable Tax Increase
is known, the amount of such equal monthly advance payments shall be adjusted as required to provide the funds needed to pay the
applicable Tax Increase. If the amount collected by Lessor is insufficient to pay the Tax Increase when due, Lessee shall pay
Lessor, upon demand, such additional sums as are necessary to pay such obligations. Advance payments may be intermingled with
other moneys of Lessor and shall not bear interest. In the event of a Breach by Lessee in the performance of its obligations under
this Lease, then any such advance payments may be treated by Lessor as an additional Security Deposit.

 

(b)          Additional
Improvements. Notwithstanding anything to the contrary in this Paragraph 10.2, Lessee shall pay to Lessor upon demand therefor
the entirety of any increase in Real Property Taxes assessed by reason of Alterations or Utility Installations placed upon the
Premises by Lessee or at Lessee’s request or by reason of any alterations or improvements to the Premises made by Lessor
subsequent to the execution of this Lease by the Parties.

 

10.3        Joint
Assessment. If the Premises are not separately assessed, Lessee’s liability shall be an equitable proportion of the
Tax Increase for all of the land and improvements included within the tax parcel assessed, such proportion to be conclusively
determined by Lessor from the respective valuations assigned in the assessor’s work sheets or such other information as
may be reasonably available.

 

10.4        Personal
Property Taxes. Lessee shall pay, prior to delinquency, all taxes assessed against and levied upon Lessee Owned Alterations,
Utility Installations, Trade Fixtures, furnishings, equipment and all personal property of Lessee. When possible, Lessee shall
cause its Lessee Owned Alterations and Utility installations, Trade Fixtures, furnishings, equipment and all other personal property
to be assessed and billed separately from the real property of Lessor. If any of Lessee’s said property shall be assessed
with Lessor’s real property, Lessee shall pay Lessor the taxes attributable to Lessee’s property within 10 days after
receipt of a written statement setting forth the taxes applicable to Lessee’s property.

 

11.    
      Utilities and Services. Lessee shall pay for all water, gas, heat, light, power, telephone,
trash disposal and other utilities and services supplied to the Premises, together with any taxes thereon. If any such services
are not separately metered or billed to Lessee, Lessee shall pay a reasonable proportion, to be determined by Lessor, of all charges
jointly metered or billed. There shall be no abatement of rent and Lessor shall not be liable in any respect whatsoever for the
inadequacy, stoppage, interruption or discontinuance of any utility or service due to riot, strike, labor dispute, breakdown,
accident, repair or other cause beyond Lessor’s reasonable control or in cooperation with governmental request or directions.

 

12.   
       Assignment and Subletting.

 

12.1        Lessor’s
Consent Required.

 

(a)          Lessee
shall not voluntarily or by operation of law assign, transfer, mortgage or encumber (collectively, “assign or assignment”)
or sublet ail or any part of Lessee’s interest in this Lease or in the Premises without Lessor’s prior written consent.

 

(b)          Unless
Lessee is a corporation and its stock is publicly traded on a national stock exchange, a change in the control of Lessee shall
constitute an assignment requiring consent. The transfer, on a cumulative basis, of 25% or more of the voting control of Lessee
shall constitute a change in control for this purpose.

 

(c)          The
involvement of Lessee or its assets in any transaction, or series of transactions (by way of merger, sale, acquisition, financing,
transfer, leveraged buy-out or otherwise), whether or not a formal assignment or hypothecation of this Lease or Lessee’s
assets occurs, which results or will result in a reduction of the Net Worth of Lessee by an amount greater than 25% of such Net
Worth as it was represented at the time of the execution of this Lease or at the time of the most recent assignment to which Lessor
has consented, or as it exists immediately prior to said transaction or transactions constituting such reduction, whichever was
or is greater, shall be considered an assignment of this Lease to which Lessor may withhold its consent “Net Worth of
Lessee” shall mean the net worth of Lessee (excluding any guarantors) established under generally accepted accounting
principles.

 

(d)          An
assignment or subletting without consent shall, at Lessor’s option, be a Default curable after notice per Paragraph 13.1(c),
or a noncurable Breach without the necessity of any notice and grace period. If Lessor elects to treat such unapproved assignment
or subletting as a noncurable Breach, Lessor may either: (i) terminate this Lease, or (ii) upon 30 days written notice, increase
the monthly Base Rent to 110% of the Base Rent then in effect. Further, in the event of such Breach and rental adjustment, (i)
the purchase price of any option to purchase the Premises held by Lessee shall be subject to similar adjustment to 110% of the
price previously in effect, and (ii) all fixed and non-fixed rental adjustments scheduled during the remainder of the Lease term
shall be increased to 110% of the scheduled adjusted rent.

 

(e)          Lessee’s
remedy for any breach of Paragraph 12.1 by Lessor shall be limited to compensatory damages and/or injunctive relief.

 

(f)          Lessor
may reasonably withhold consent to a proposed assignment or subletting if Lessee is in Default at the time consent is requested.

 

(g)          Notwithstanding
the foregoing, allowing a de minimis portion of the Premises, ie. 20 square feet or less, to be used by a third party vendor in
connection with the installation of a vending machine or payphone shall not constitute a subletting.

 

12.2        Terms
and Conditions Applicable to Assignment and Subletting.

 

(a)          Regardless
of Lessor’s consent, no assignment or subletting shall: (i) be effective without the express written assumption by such
assignee or sublessee of the obligations of Lessee under this Lease, (ii) release Lessee of any obligations hereunder, or (iii)
alter the primary liability of Lessee for the payment of Rent or for the performance of any other obligations to be performed
by Lessee.

 

	 	 	 
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(b)          Lessor
may accept Rent or performance of Lessee’s obligations from any person other than Lessee pending approval or disapproval
of an assignment. Neither a delay in the approval or disapproval of such assignment nor the acceptance of Rent or performance
shall constitute a waiver or estoppel of Lessor’s right to exercise its remedies for Lessee’s Default or Breach.

 

(c)          Lessor’s
consent to any assignment or subletting shall not constitute a consent to any subsequent assignment or subletting.

 

(d)          In
the event of any Default or Breach by Lessee, Lessor may proceed directly against Lessee, any Guarantors or anyone else responsible
for the performance of Lessee’s obligations under this Lease, including any assignee or sublessee, without first exhausting
Lessor’s remedies against any other person or entity responsible therefor to Lessor, or any security held by Lessor.

 

(e)          Each
request for consent to an assignment or subletting shall be in writing, accompanied by information relevant to Lessor’s
determination as to the financial and operational responsibility and appropriateness of the proposed assignee or sublessee, including
but not limited to the intended use and/or required modification of the Premises, if any, together with a fee of $500 as consideration
for Lessor’s considering and processing said request. Lessee agrees to provide Lessor with such other or additional information
and/or documentation as may be reasonably requested. (See also Paragraph 36)

 

(f)          Any
assignee of, or sublessee under, this Lease shall, by reason of accepting such assignment, entering into such sublease, or entering
into possession of the Premises or any portion thereof, be deemed to have assumed and agreed to conform and comply with each and
every term, covenant, condition and obligation herein to be observed or performed by Lessee during the term of said assignment
or sublease, other than such obligations as are contrary to or inconsistent with provisions of an assignment or sublease to which
Lessor has specifically consented to in writing.

 

(g)          Lessor’s
consent to any assignment or subletting shall not transfer to the assignee or sublessee any Option granted to the original Lessee
by this Lease unless such transfer is specifically consented to by Lessor in writing. (See Paragraph 39.2)

 

12.3        Additional
Terms and Conditions Applicable to Subletting. The following terms and conditions shall apply to any subletting by Lessee
of all or any part of the Premises and shall be deemed included in all subleases under this Lease whether or not expressly incorporated
therein:

 

(a)          Lessee
hereby assigns and transfers to Lessor all of Lessee’s interest in all Rent payable on any sublease, and Lessor may collect
such Rent and apply same toward Lessee’s obligations under this Lease; provided, however, that until a Breach shall occur
in the performance of Lessee’s obligations, Lessee may collect said Rent. In the event that the amount collected by Lessor
exceeds Lessee’s then outstanding obligations any such excess shall be refunded to Lessee. Lessor shall not, by reason of
the foregoing or any assignment of such sublease, nor by reason of the collection of Rent, be deemed liable to the sublessee for
any failure of Lessee to perform and comply with any of Lessee’s obligations to such sublessee. Lessee hereby irrevocably
authorizes and directs any such sublessee, upon receipt of a written notice from Lessor stating that a Breach exists in the performance
of Lessee’s obligations under this Lease, to pay to Lessor all Rent due and to become due under the sublease. Sublessee
shall rely upon any such notice from Lessor and shall pay all Rents to Lessor without any obligation or right to inquire as to
whether such Breach exists, notwithstanding any claim from Lessee to the contrary.

 

(b)          In
the event of a Breach by Lessee, Lessor may, at its option, require sublessee to attorn to Lessor, in which event Lessor shall
undertake the obligations of the sublessor under such sublease from the time of the exercise of said option to the expiration
of such sublease: provided, however, Lessor shall not be liable for any prepaid rents or security deposit paid by such sublessee
to such sublessor or for any prior Defaults or Breaches of such sublessor.

 

(c)          Any
matter requiring the consent of the sublessor under a sublease shall also require the consent of Lessor.

 

(d)          No
sublessee shall further assign or sublet all or any part of the Premises without Lessor’s prior written consent.

 

(e)          Lessor
shall deliver a copy of any notice of Default or Breach by Lessee to the sublessee, who shall have the right to cure the Default
of Lessee within the grace period, if any, specified in such notice. The sublessee shall have a right of reimbursement and offset
from and against Lessee for any such Defaults cured by the sublessee.

 

13.   
       Default; Breach; Remedies.

 

13.1        Default;
Breach. A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants,
conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more
of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

 

(a)          The
abandonment of the Premises: or the vacating of the Premises without providing a commercially reasonable level of security, or
where the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing
reasonable assurances to minimize potential vandalism.

 

(b)          The
failure of Lessee to make any payment of Rent or any Security Deposit required to be made by Lessee hereunder, whether to Lessor
or to a third party, when due, to provide reasonable evidence of insurance or surety bond, or to fulfill any obligation under
this Lease which endangers or threatens life or property, where such failure continues for a period of 3 business days following
written notice to Lessee. THE ACCEPTANCE BY LESSOR OF A PARTIAL PAYMENT OF RENT OR SECURITY DEPOSIT SHALL NOT CONSTITUTE A WAIVER
OF ANY OF LESSOR’S RIGHTS, INCLUDING LESSOR’S RIGHT TO RECOVER POSSESSION OF THE PREMISES.

 

(c)          The
failure of Lessee to allow Lessor and/or its agents access to the Premises or the commission of waste, act or acts constituting
public or private nuisance, and/or an illegal activity on the Premises by Lessee, where such actions continue for a period of
3 business days following written notice to Lessee.

 

(d)          The
failure by Lessee to provide (i) reasonable written evidence of compliance with Applicable Requirements, (ii) the service contracts,
(iii) the rescission of an unauthorized assignment or subletting, (iv) an Estoppel Certificate or financial statements, (v) a
requested subordination, (vi) evidence concerning any guaranty and/or Guarantor, (vii) any document requested under Paragraph
42, (viii) material safety data sheets (MSDS), or (ix) any other documentation or information which Lessor may reasonably require
of Lessee under the terms of this Lease, where any such failure continues for a period of 10 days following written notice to
Lessee.

 

(e)          A
Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph
40 hereof, other than those described in subparagraphs 13.1(a), (b), (c) or (d), above, where such Default continues for a period
of 30 days after written notice; provided, however, that if the nature of Lessee’s Default is such that more than 30 days
are reasonably required for its cure, then it shall not be deemed to be a Breach if Lessee commences such cure within said 30
day period and thereafter diligently prosecutes such cure to completion.

 

(f)          The
occurrence of any of the following events: (i) the making of any general arrangement or assignment for the benefit of creditors:
(ii) becoming a “debtor” as defined in 11 U.S.C. §101 or any successor statute thereto (unless, in the
case of a petition filed against Lessee, the same is dismissed within 60 days): (iii) the appointment of a trustee or receiver
to take possession of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this
Lease, where possession is not restored to Lessee within 30 days; or (iv) the attachment, execution or other judicial seizure
of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where such
seizure is not discharged within 30 days; provided, however, in the event that any provision of this subparagraph (e) is contrary
to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions.

 

(g)          The
discovery that any financial statement of Lessee or of any Guarantor given to Lessor was materially false.

 

(h)          If
the performance of Lessee’s obligations under this Lease is guaranteed: (i) the death of a Guarantor, (ii) the termination
of a Guarantor’s liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a
Guarantor’s becoming insolvent or the subject of a bankruptcy filing, (iv) a Guarantor’s refusal to honor the guaranty,
or (v) a Guarantor’s breach of its guaranty obligation on an anticipatory basis, and Lessee’s failure, within 60 days
following written notice of any such event, to provide written alternative assurance or security, which, when coupled with the
then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the Guarantors that existed
at the time of execution of this Lease.

 

13.2        Remedies.
If Lessee fails to perform any of its affirmative duties or obligations, within 10 days after written notice (or in case of
an emergency, without notice), Lessor may, at its option, perform such duty or obligation on Lessee’s behalf, including
but not limited to the obtaining of reasonably required bonds, insurance policies, or governmental licenses, permits or approvals.
The notice provided for in this Section 13.2 shall be in lieu of any notices required by California Code of Civil procedure Section
1161, et. seq. Lessee shall pay to Lessor an amount equal to 115% of the costs and expenses incurred by Lessor in such performance
upon receipt of an invoice therefor. In the event of a Breach, Lessor may, with or without further notice or demand, and without
limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such Breach:

 

(a)          Terminate
Lessee’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Lessee shall
immediately surrender possession to Lessor. In such event Lessor shall be entitled to recover from Lessee: (i) the unpaid Rent
which had been earned at the time of termination; (ii) the worth at the time of award of the amount by which the unpaid rent which
would have been earned after termination until the time of award exceeds the amount of such rental loss that the Lessee proves
could have been reasonably avoided; (iii) the worth at the time of award of the amount by which the unpaid rent for the balance
of the term after the time of award exceeds the amount of such rental loss that the Lessee proves could be reasonably avoided;
and (iv) any other amount necessary to compensate Lessor for all the detriment proximately caused by the Lessee’s failure
to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including
but not limited to the cost of recovering possession of the Premises, expenses of reletting, including necessary renovation and
alteration of the Premises, reasonable attorneys’ fees, and that portion of any leasing commission paid by Lessor in connection
with this Lease applicable to the unexpired term of this Lease. The worth at the time of award of the amount referred to in provision
(iii) of the immediately preceding sentence shall be computed by discounting such amount at the discount rate of the Federal Reserve
Bank of the District within which the Premises are located at the time of award plus one percent. Efforts by Lessor to mitigate
damages caused by Lessee’s Breach of this Lease shall not waive Lessor’s right to recover damages under Paragraph
12. If termination of this Lease is obtained through the provisional remedy of unlawful detainer, Lessor shall have the right
to recover in such proceeding any unpaid Rent and damages as are recoverable therein, or Lessor may reserve the right to recover
all or any part thereof in a separate suit. If a notice and grace period required under Paragraph 13.1 was not previously given,
a notice to pay rent or quit, or to perform or quit given to Lessee under the unlawful detainer statute shall also constitute
the notice required by Paragraph 13.1. In such case, the applicable grace period required by Paragraph 13.1 and the unlawful detainer
statute shall run concurrently, and the failure of Lessee to cure the Default within the greater of the two such grace periods
shall constitute both an unlawful detainer and a Breach of this Lease entitling Lessor to the remedies provided for in this Lease
and/or by said statute.

 

	 	 	 
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(b)          As
set forth in California Civil Code Section 1951.4, Ccontinue the Lease and Lessee’s right to possession
and recover the Rent as it becomes due, in which event Lessee may sublet or assign, subject only to reasonable limitations. Acts
of maintenance, efforts to relet, and/or the appointment of a receiver to protect the Lessor’s interests, shall not constitute
a termination of the Lessee’s right to possession. Even though a Breach may have occurred, this Lease shall remain in effect
for so long as Lessor does not terminate lessee’s right to possession, and Lessor may enforce all of Lessor’s rights
to remedies under this Lease, including the remedy described in California Civil Code Section 1951.4 to recover Rent as it becomes
due.

 

(c)          Pursue
any other remedy now or hereafter available under the laws or judicial decisions of the state wherein the Premises are located.
The expiration or termination of this Lease and/or the termination of Lessee’s right to possession shall not relieve Lessee
from liability under any indemnity provisions of this Lease as to matters occurring or accruing during the term hereof or by reason
of Lessee’s occupancy of the Premises.

 

13.3        Inducement
Recapture. Any agreement for free or abated rent or other charges, or for the giving or paying by Lessor to or for Lessee
of any cash or other bonus, inducement or consideration for Lessee’s entering into this Lease, all of which concessions
are hereinafter referred to as “Inducement Provisions,” shall be deemed conditioned upon Lessee’s full
and faithful performance of all of the terms, covenants and conditions of this Lease. Upon Breach of this Lease by Lessee, any
such Inducement Provision shall automatically be deemed deleted from this Lease and of no further force or effect, and any rent,
other charge, bonus, inducement or consideration theretofore abated, given or paid by Lessor under such an inducement Provision
shall be immediately due and payable by Lessee to Lessor, notwithstanding any subsequent cure of said Breach by Lessee. The acceptance
by Lessor of rent or the cure of the Breach which initiated the operation of this paragraph shall not be deemed a waiver by Lessor
of the provisions of this paragraph unless specifically so stated in writing by Lessor at the time of such acceptance.

 

13.4        Late
Charges. Lessee hereby acknowledges that late payment by Lessee of Rent will cause Lessor to incur costs not contemplated
by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to,
processing and accounting charges, and late charges which may be imposed upon Lessor by any Lender. Accordingly, if any Rent shall
not be received by Lessor within 5 days after such amount shall be due, then, without any requirement for notice to Lessee, Lessee
shall immediately pay to Lessor a one-time late charge equal to 10% of each such overdue amount or $100, whichever is greater.
The Parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Lessor will incur by reason
of such late payment. Acceptance of such late charge by Lessor shall in no event constitute a waiver of Lessee’s Default
or Breach with respect to such overdue amount, nor prevent the exercise of any of the other rights and remedies granted hereunder.
In the event that a late charge is payable hereunder, whether or not collected, for 3 consecutive installments of Base Rent, then
notwithstanding any provision of this Lease to the contrary, Base Rent shall, at Lessor’s option, become due and payable
quarterly in advance.

 

13.5        Interest.
Any monetary payment due Lessor hereunder, other than late charges, not received by Lessor, when due as to scheduled payments
(such as Base Rent) or within 30 days following the date on which it was due for non-scheduled payment, shall bear interest from
the date when due, as to scheduled payments, or the 31st day after it was due as to non-scheduled payments. The interest (“Interest”)
charged shall be computed at the rate of 10% per annum but shall not exceed the maximum rate allowed by law. Interest is payable
in addition to the potential late charge provided for in Paragraph 13.4.

 

13.6        Breach
by Lessor.

 

(a)          Notice
of Breach. Lessor shall not be deemed in breach of this Lease unless Lessor fails within a reasonable time to perform an obligation
required to be performed by Lessor. For purposes of this Paragraph, a reasonable time shall in no event be less than 30 days after
receipt by Lessor, and any Lender whose name and address shall have been furnished Lessee in writing for such purpose, of written
notice specifying wherein such obligation of Lessor has not been performed; provided, however, that if the nature of Lessor’s
obligation is such that more than 30 days are reasonably required for its performance, then Lessor shall not be in breach if performance
is commenced within such 30 day period and thereafter diligently pursued to completion.

 

(b)          Performance
by Lessee on Behalf of Lessor. In the event that neither Lessor nor Lender cures said breach within 30 days after receipt
of said notice, or if having commenced said cure they do not diligently pursue it to completion, then Lessee may elect to cure
said breach at Lessee’s expense and offset from Rent the actual and reasonable cost to perform such cure, provided however,
that such offset shall not exceed an amount equal to the greater of one month’s Base Rent or the Security Deposit, reserving
Lessee’s right to seek reimbursement from Lessor for any such expense in excess of such offset. Lessee shall document the
cost of said cure and supply said documentation to Lessor.

 

14.    
      Condemnation. If the Premises or any portion thereof are taken under the power of eminent
domain or sold under the threat of the exercise of said power (collectively “Condemnation”), this Lease shall
terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more
than 10% of the Building, or more than 25% of that portion of the Premises not occupied by any building, is taken by Condemnation,
Lessee may, at Lessee’s option, to be exercised in writing within 10 days after Lessor shall have given Lessee written notice
of such taking (or in the absence of such notice, within 10 days after the condemning authority shall have taken possession) terminate
this Lease as of the date the condemning authority takes such possession, if Lessee does not terminate this Lease in accordance
with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that
the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation
awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value
of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any
compensation paid by the condemnor for Lessee’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without
regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations
made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall
be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of
the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

 

15.     
     Brokerage Fees.

 

15.1         Additional
Commission. If a separate brokerage fee agreement is attached then in addition to the payments owed pursuant to Paragraph
1.9 above, and unless Lessor and the Brokers otherwise-agree in writing, Lessor agrees that: (a) if Lessee exercises any Option,
(b) if Lessee or anyone affiliated with Lessee acquires any rights to the Premises or other premises owned by Lessor and located
within the same Project, if any, within which the Promises is located, (c) if Lessee remains in possession of
the Premises, with the consent of Lessor, after the expiration of this Lease,or (d) if Base Rent is increased; whether by agreement
or operation of an escalation clause herein, then, Lessor shall pay Brokers a fee in accordance with the schedule attached to
such brokerage fee agreement.

 

15.2         Assumption
of Obligations. Any buyer or transferee of Lessor’s interest in this Lease shall be deemed to have assumed Lessor’s
obligation hereunder. Brokers shall be third party beneficiaries of the provisions of Paragraphs 1.9,15, 22 and 31. If Lessor
fails to pay to Brokers any amounts due as and for brokerage fees pertaining to this Lease when due, then such amounts shall accrue
Interest. In addition, if Lessor fails to pay any amounts to Lessee’s Broker when due, Lessee’s Broker may send written
notice to Lessor and Lessee of such failure and if Lessor fails to pay such amounts within 10 days after said notice, Lessee shall
pay said monies to its Broker and offset such amounts against Rent. In addition, Lessee’s Broker shall be deemed to be a
third party beneficiary of any commission agreement entered into by and/or between Lessor and Lessor’s Broker for the limited
purpose of collecting any brokerage fee owed.

 

15.3         Representations
and Indemnities of Broker Relationships. Lessee and Lessor each represent and warrant to the other that it has had no dealings
with any person, firm, broker or finder (other than the Brokers, if any) in connection with this Lease, and that no one other
than said named Brokers is entitled to any commission or finder’s fee in connection herewith. Lessee and Lessor do each
hereby agree to indemnify, protect, defend and hold the other harmless from and against liability for compensation or charges
which may be claimed by any such unnamed broker, finder or other similar party by reason of any dealings or actions of the indemnifying
Party, including any costs, expenses, attorneys’ fees reasonably incurred with respect thereto.

 

16.    
     Estoppel Certificates.

 

(a)          Each
Party (as “Responding Party”) shall within 10 days after written notice from the other Party (the “Requesting
Party”) execute, acknowledge and deliver to the Requesting Party a statement in writing in form similar to the then
most current “Estoppel Certificate” form published by the AIR Commercial Real Estate Association, plus such additional
information, confirmation and/or statements as may be reasonably requested by the Requesting Party.

 

(b)          If
the Responding Party shall fail to execute or deliver the Estoppel Certificate within such 10 day period, the Requesting Party
may execute an Estoppel Certificate stating that: (i) the Lease is in full force and effect without modification except as may
be represented by the Requesting Party, (ii) there are no uncured defaults in the Requesting Party’s performance, and (iii)
if Lessor is the Requesting Party, not more than one month’s rent has been paid in advance. Prospective purchasers and encumbrancers
may rely upon the Requesting Party’s Estoppel Certificate, and the Responding Party shall be estopped from denying the truth
of the facts contained in said Certificate.

 

	 	 	 
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(c)          If
Lessor desires to finance, refinance, or sell the Premises, or any part thereof, Lessee and all Guarantors shall within 10 days
after written notice from Lessor deliver to any potential lender or purchaser designated by Lessor such financial statements as
may be reasonably required by such lender or purchaser, including but not limited to Lessee’s financial statements for the
past 3 years. All such financial statements shall be received by Lessor and such lender or purchaser in confidence and shall be
used only for the purposes herein set forth.

 

17.         Definition
of Lessor. The term “Lessor” as used herein shall mean the owner or owners at the time in question of the
fee title to the Premises, or, if this is a sublease, of the Lessee’s interest in the prior lease. In the event of a transfer
of Lessor’s title or interest in the Premises or this Lease, Lessor shall deliver to the transferee or assignee (in cash
or by credit) any unused Security Deposit held by Lessor. Upon such transfer or assignment and delivery of the Security Deposit,
as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this
Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be
performed by the Lessor shall be binding only upon the Lessor as hereinabove defined.

 

18.         Severability.
The invalidity of any provision of this Lease, as determined by a court of competent jurisdiction, shall in no way affect
the validity of any other provision hereof.

 

19.         Days.
Unless otherwise specifically indicated to the contrary, the word “days” as used in this Lease shall mean and
refer to calendar days.

 

20.         Limitation
on Liability. The obligations of Lessor under this Lease shall not constitute personal obligations of Lessor or its partners,
members, directors, officers or shareholders, and Lessee shall look to the Premises, and to no other assets of Lessor, for the
satisfaction of any liability of Lessor with respect to this Lease, and shall not seek recourse against Lessor’s partners,
members, directors, officers or shareholders, or any of their personal assets for such satisfaction.

 

21.         Time
of Essence. Time is of the essence with respect to the performance of all obligations to be performed or observed by the Parties
under this Lease.

 

22.         No
Prior or Other Agreements; Broker Disclaimer. This Lease contains all agreements between the Parties with respect to any matter
mentioned herein, and no other prior or contemporaneous agreement or understanding shall be effective. Lessor and Lessee each
represents and warrants to the Brokers that it has made, and is relying solely upon, its own investigation as to the nature, quality,
character and financial responsibility of the other Party to this Lease and as to the use, nature, quality and character of the
Premises. Brokers have no responsibility with respect thereto or with respect to any default or breach hereof by either Party.

 

23.         Notices.

 

23.1         Notice
Requirements. All notices required or permitted by this Lease or applicable law shall be in writing and may be delivered in
person (by hand or by courier) or may be sent by regular, certified or registered mail or U.S. Postal Service Express Mail, with
postage prepaid, or by facsimile transmission, and shall be deemed sufficiently given if served in a manner specified in this
Paragraph 23. The addresses noted adjacent to a Party’s signature on this Lease shall be that Party’s address for
delivery or mailing of notices. Either Party may by written notice to the other specify a different address for notice, except
that upon Lessee’s taking possession of the Premises, the Premises shall constitute Lessee’s address for notice. A
copy of all notices to Lessor shall be concurrently transmitted to such party or parties at such addresses as Lessor may from
time to time hereafter designate in writing.

 

23.2         Date
of Notice. Any notice sent by registered or certified mail, return receipt requested, shall be deemed given on the date of
delivery shown on the receipt card, or if no delivery date is shown, the postmark thereon. If sent by regular mail the notice
shall be deemed given 72 hours after the same is addressed as required herein and mailed with postage prepaid. Notices delivered
by United States Express Mail or overnight courier that guarantees next day delivery shall be deemed given 24 hours after delivery
of the same to the Postal Service or courier. Notices transmitted by facsimile transmission or similar means shall be deemed delivered
upon telephone confirmation of receipt (confirmation report from fax machine is sufficient), provided a copy is also delivered
via delivery or mail. If notice is received on a Saturday, Sunday or legal holiday, it shall be deemed received on the next business
day.

 

24.         Waivers.

 

(a)          No
waiver by Lessor of the Default or Breach of any term, covenant or condition hereof by Lessee, shall be deemed a waiver of any
other term, covenant or condition hereof, or of any subsequent Default or Breach by Lessee of the same or of any other term, covenant
or condition hereof. Lessor’s consent to, or approval of, any act shall not be deemed to render unnecessary the obtaining
of Lessor’s consent to, or approval of, any subsequent or similar act by Lessee, or be construed as the basis of an estoppel
to enforce the provision or provisions of this Lease requiring such consent.

 

(b)          The
acceptance of Rent by Lessor shall not be a waiver of any Default or Breach by Lessee. Any payment by Lessee may be accepted by
Lessor on account of moneys or damages due Lessor, notwithstanding any qualifying statements or conditions made by Lessee in connection
therewith, which such statements and/or conditions shall be of no force or effect whatsoever unless specifically agreed to in
writing by Lessor at or before the time of deposit of such payment

 

(c)          THE
PARTIES AGREE THAT THE TERMS OF THIS LEASE SHALL GOVERN WITH REGARD TO ALL MATTERS RELATED THERETO AND HEREBY WAIVE THE PROVISIONS
OF ANY PRESENT OR FUTURE STATUTE TO THE EXTENT THAT SUCH STATUTE IS INCONSISTENT WITH THIS LEASE.

 

25.         Disclosures
Regarding The Nature of a Real Estate Agency Relationship.

 

(a)          When
entering into a discussion with a real estate agent regarding a real estate transaction, a Lessor or Lessee should from the outset
understand what type of agency relationship or representation it has with the agent or agents in the transaction. Lessor and Lessee
acknowledge being advised by the Brokers in this transaction, as follows:

 

(i)          Lessor’s
Agent. A Lessor’s agent under a listing agreement with the Lessor acts as the agent for the Lessor only. A Lessor’s
agent or subagent has the following affirmative obligations: To the Lessor: A fiduciary duty of utmost care, integrity,
honesty, and loyalty in dealings with the Lessor. To the Lessee and the Lessor: a. Diligent exercise of reasonable skills
and care in performance of the agent’s duties, b. A duty of honest and fair dealing and good faith, c. A duty to disclose
all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the
diligent attention and observation of, the Parties. An agent is not obligated to reveal to either Party any confidential information
obtained from the other Party which does not involve the affirmative duties set forth above.

 

(ii)         Lessee’s
Agent. An agent can agree to act as agent for the Lessee only. In these situations, the agent is not the Lessor’s agent,
even if by agreement the agent may receive compensation for services rendered, either in full or in part from the Lessor. An agent
acting only for a Lessee has the following affirmative obligations. To the Lessee: A fiduciary duty of utmost care, integrity,
honesty, and loyalty in dealings with the Lessee. To the Lessee and the Lessor: a. Diligent exercise of reasonable skills
and care in performance of the agent’s duties, b. A duty of honest and fair dealing and good faith. c. A duty to disclose
all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the
diligent attention and observation of, the Parties. An agent is not obligated to reveal to either Party any confidential information
obtained from the other Party which does not involve the affirmative duties set forth above.

 

(iii)        Agent
Representing Both Lessor and Lessee. A real estate agent, either acting directly or through one or more associate licenses,
can legally be the agent of both the Lessor and the Lessee in a transaction, but only with the knowledge and consent of both the
Lessor and the Lessee. In a dual agency situation, the agent has the following affirmative obligations to both the Lessor and
the Lessee: a. A fiduciary duty of utmost care, integrity, honesty and loyalty in the dealings with either Lessor or the Lessee.
b. Other duties to the Lessor and the Lessee as stated above in subparagraphs (i) or (ii). In representing both Lessor and Lessee,
the agent may not without the express permission of the respective Party, disclose to the other Party that the Lessor will accept
rent in an amount less than that indicated in the listing or that the Lessee is willing to pay a higher rent than that offered.
The above duties of the agent in a real estate transaction do not relieve a Lessor or Lessee from the responsibility to protect
their own interests. Lessor and Lessee should carefully read all agreements to assure that they adequately express their understanding
of the transaction. A real estate agent is a person qualified to advise about real estate. If legal or tax advice is desired,
consult a competent professional.

 

(b)          Brokers
have no responsibility with respect to any default or breach hereof by either Party. The Parties agree that no lawsuit or other
legal proceeding involving any breach of duty, error or omission relating to this Lease may be brought against Broker more than
one year after the Start Date and that the liability (including court costs and attorneys’ fees), of any Broker with respect
to any such lawsuit and/or legal proceeding shall not exceed the fee received by such Broker pursuant to this Lease; provided,
however, that the foregoing limitation on each Broker’s liability shall not be applicable to any gross negligence or willful
misconduct of such Broker.

 

(c)          Lessor
and Lessee agree to identify to Brokers as “Confidential” any communication or information given Brokers that is considered
by such Party to be confidential.

 

26.         No
Right To Holdover. Lessee has no right to retain possession of the Premises or any part thereof beyond the expiration or termination
of this Lease. In the event that Lessee holds over, then the Base Rent shall be increased to 150% of the Base Rent applicable
immediately preceding the expiration or termination. Nothing contained herein shall be construed as consent by Lessor to any holding
over by Lessee.

 

27.         Cumulative
Remedies. No remedy or election hereunder shall be deemed exclusive but shall, wherever possible, be cumulative with all other
remedies at law or in equity.

 

28.         Covenants
and Conditions; Construction of Agreement. All provisions of this Lease to be observed or performed by Lessee are both covenants
and conditions. In construing this Lease, all headings and titles are for the convenience of the Parties only and shall not be
considered a part of this Lease. Whenever required by the context, the singular shall include the plural and vice versa. This
Lease shall not be construed as if prepared by one of the Parties, but rather according to its fair meaning as a whole, as if
both Parties had prepared it.

 

	 	 	 
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29.         Binding
Effect; Choice of Law. This Lease shall be binding upon the Parties, their personal representatives, successors and assigns
and be governed by the laws of the State in which the Premises are located. Any litigation between the Parties hereto concerning
this Lease shall be initiated in the county in which the Premises are located.

 

30.         Subordination;
Attornment; Non-Disturbance.

 

30.1         Subordination.
This Lease and any Option granted hereby shall be subject and subordinate to any ground lease, mortgage, deed of trust, or
other hypothecation or security device (collectively, “Security Device”), now or hereafter placed upon the
Premises, to any and all advances made on the security thereof, and to all renewals, modifications, and extensions thereof. Lessee
agrees that the holders of any such Security Devices (in this Lease together referred to as “Lender”) shall have no
liability or obligation to perform any of the obligations of Lessor under this Lease. Any Lender may elect to have this Lease
and/or any Option granted hereby superior to the lien of its Security Device by giving written notice thereof to Lessee, whereupon
this Lease and such Options shall be deemed prior to such Security Device, notwithstanding the relative dates of the documentation
or recordation thereof.

 

30.2         Attornment.
In the event that Lessor transfers title to the Premises, or the Premises are acquired by another upon the foreclosure or
termination of a Security Devise to which this Lease is subordinated (i) Lessee shall, subject to the non-disturbance provisions
of Paragraph 30.3, attorn to such new owner, and upon request, enter into a new lease, containing all of the terms and provisions
of this Lease, with such new owner for the remainder of the term hereof, or, at the election of the new owner, this Lease will
automatically become a new lease between Lessee and such new owner, and (ii) Lessor shall thereafter be relieved of any further
obligations hereunder and such new owner shall assume all of Lessor’s obligations, except that such new owner shall not:
(a) be liable for any act or omission of any prior lessor or with respect to events occurring prior to acquisition of ownership;
(b) be subject to any offsets or defenses which Lessee might have against any prior lessor, (c) be bound by prepayment of more
than one month’s rent, or (d) be liable for the return of any security deposit paid to any prior lessor which was not paid
or credited to such new owner.

 

30.3         Non-Disturbance.
With respect to Security Devices entered into by Lessor after the execution of this Lease, Lessee’s subordination of
this Lease shall be subject to receiving a commercially reasonable non-disturbance agreement (a “Non-Disturbance Agreement”)
from the Lender which Non-Disturbance Agreement provides that Lessee’s possession of the Premises, and this Lease, including
any options to extend the term hereof, will not be disturbed so long as Lessee is not in Breach hereof and attorns to the record
owner of the Premises. Further, within 60 days after the execution of this Lease, Lessor shall, if requested by Lessee, use its
commercially reasonable efforts to obtain a Non-Disturbance Agreement from the holder of any pre-existing Security Device which
is secured by the Premises. In the event that Lessor is unable to provide the Non-Disturbance Agreement within said 60 days, then
Lessee may, at Lessee’s option, directly contact Lender and attempt to negotiate for the execution and delivery of a Non-Disturbance
Agreement.

 

30.4         Self-Executing.
The agreements contained in this Paragraph 30 shall be effective without the execution of any further documents: provided,
however, that, upon written request from Lessor or a Lender in connection with a sale, financing or refinancing of the Premises,
Lessee and Lessor shall execute such further writings as may be reasonably required to separately document any subordination,
attornment and/or Non-Disturbance Agreement provided for herein.

 

31.         Attorneys’
Fees. If any Party or Broker brings an action or proceeding involving the Premises whether founded in tort, contract or equity,
or to declare rights hereunder, the Prevailing Party (as hereafter defined) in any such proceeding, action, or appeal thereon,
shall be entitled to reasonable attorneys’ fees. Such fees may be awarded in the same suit or recovered in a separate suit,
whether or not such action or proceeding is pursued to decision or judgment. The term, “Prevailing Party” shall include,
without limitation, a Party or Broker who substantially obtains or defeats the relief sought, as the case may be, whether by compromise,
settlement, judgment, or the abandonment by the other Party or Broker of its claim or defense. The attorneys’ fees award
shall not be computed in accordance with any court fee schedule, but shall be such as to fully reimburse all attorneys’
fees reasonably incurred. In addition, Lessor shall be entitled to attorneys’ fees, costs and expenses incurred in the preparation
and service of notices of Default and consultations in connection therewith, whether or not a legal action is subsequently commenced
in connection with such Default or resulting Breach ($200 is a reasonable minimum per occurrence for such services and consultation).

 

32.         Lessor’s
Access; Showing Premises; Repairs. Lessor and Lessor’s agents shall have the right to enter the Premises at any time,
in the case of an emergency, and otherwise at reasonable times after reasonable prior notice for the purpose of showing the same
to prospective purchasers, lenders, or tenants, and making such alterations, repairs, improvements or additions to the Premises
as Lessor may deem necessary or desirable and the erecting, using and maintaining of utilities, services, pipes and conduits through
the Premises and/or other premises as long as there is no material adverse effect to Lessee’s use of the Premises. All such
activities shall be without abatement of rent or liability to Lessee.

 

33.         Auctions.
Lessee shall not conduct, nor permit to be conducted, any auction upon the Premises without Lessor’s prior written consent.
Lessor shall not be obligated to exercise any standard of reasonableness in determining whether to permit an auction.

 

34.         Signs.
Lessor may place on the Premises ordinary “For Sale” signs at any time and ordinary “For Lease” signs
during the last 6 months of the term hereof. Except for ordinary “for sublease” signs, Lessee shall not place any
sign upon the Premises without Lessor’s prior written consent. All signs must comply with all Applicable Requirements.

 

35.         Termination;
Merger. Unless specifically stated otherwise in writing by Lessor, the voluntary or other surrender of this Lease by Lessee,
the mutual termination or cancellation hereof, or a termination hereof by Lessor for Breach by Lessee, shall automatically terminate
any sublease or lesser estate in the Premises; provided, however, that Lessor may elect to continue any one or all existing subtenancies.
Lessor’s failure within 10 days following any such event to elect to the contrary by written notice to the holder of any
such lesser interest, shall constitute Lessor’s election to have such event constitute the termination of such interest.

 

36.         Consents.
Except as otherwise provided herein, wherever in this Lease the consent of a Party is required to an act by or for the other
Party, such consent shall not be unreasonably withheld or delayed. Lessor’s actual reasonable costs and expenses (including
but not limited to architects’, attorneys’, engineers’ and other consultants’ fees) incurred in the consideration
of, or response to, a request by Lessee for any Lessor consent, including but not limited to consents to an assignment, a subletting
or the presence or use of a Hazardous Substance, shall be paid by Lessee upon receipt of an invoice and supporting documentation
therefor. Lessor’s consent to any act, assignment or subletting shall not constitute an acknowledgment that no Default or
Breach by Lessee of this Lease exists, nor shall such consent be deemed a waiver of any then existing Default or Breach, except
as may be otherwise specifically stated in writing by Lessor at the time of such consent. The failure to specify herein any particular
condition to Lessor’s consent shall not preclude the imposition by Lessor at the time of consent of such further or other
conditions as are then reasonable with reference to the particular matter for which consent is being given. In the event that
either Party disagrees with any determination made by the other hereunder and reasonably requests the reasons for such determination,
the determining party shall furnish its reasons in writing and in reasonable detail within 10 business days following such request.

 

37.         Guarantor.

 

37.1         Execution.
The Guarantors, if any, shall each execute a guaranty in the form most recently published by the AIR Commercial Real Estate
Association.

 

37.2         Default.
It shall constitute a Default of the Lessee if any Guarantor fails or refuses, upon request to provide: (a) evidence of the
execution of the guaranty, including the authority of the party signing on Guarantor’s behalf to obligate Guarantor, and
in the case of a corporate Guarantor, a certified copy of a resolution of its board of directors authorizing the making of such
guaranty, (b) current financial statements, (c) an Estoppel Certificate, or (d) written confirmation that the guaranty is still
in effect.

 

38.         Quiet
Possession. Subject to payment by Lessee of the Rent and performance of all of the covenants, conditions and provisions on
Lessee’s part to be observed and performed under this Lease, Lessee shall have quiet possession and quiet enjoyment of the
Premises during the term hereof.

 

39.         Options.
If Lessee is granted an Option, as defined below, then the following provisions shall apply:

 

39.1         Definition.
 “Option” shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce
the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease
either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right
of first refusal to purchase the Premises or other property of Lessor.

 

39.2         Options
Personal To Original Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, and cannot be
assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the
Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting.

 

39.3         Multiple
Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised
unless the prior Options have been validly exercised.

 

39.4         Effect
of Default on Options.

 

(a)          Lessee
shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing
until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given
Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices
of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the
Option.

 

(b)          The
period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee’s inability
to exercise an Option because of the provisions of Paragraph 39.4(a).

 

	 	 	 
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(c)          An
Option shall terminate and be of no further force or effect, notwithstanding Lessee’s due and timely exercise of the Option,
if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to
pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii)
if Lessee commits a Breach of this Lease.

 

40.         Multiple
Buildings. If the Premises are a part of a group of buildings controlled by Lessor, Lessee agrees that it will abide by and
conform to all reasonable rules and regulations which Lessor may make from time to time for the management, safety, and care of
said properties, including the care and cleanliness of the grounds and including the parking, loading and unloading of vehicles,
and to cause its employees, suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessee also agrees
to pay its fair share of common expenses incurred in connection with such rules and regulations.

 

41.         Security
Measures. Lessee hereby acknowledges that the Rent payable to Lessor hereunder does not include the cost of guard service
or other security measures, and that Lessor shall have no obligation whatsoever to provide same. Lessee assumes all responsibility
for the protection of the Premises, Lessee, its agents and invitees and their property from the acts of third parties.

 

42.         Reservations.
Lessor reserves to itself the right, from time to time, to grant, without the consent or joinder of Lessee, such easements,
rights and dedications that Lessor deems necessary, and to cause the recordation of parcel maps and restrictions, so long as such
easements, rights, dedications, maps and restrictions do not unreasonably interfere with the use of the Premises by Lessee. Lessee
agrees to sign any documents reasonably requested by Lessor to effectuate any such easement rights, dedication, map or restrictions.

 

43.         Performance
Under Protest. If at any time a dispute shall arise as to any amount or sum of money to be paid by one Party to the other
under the provisions hereof, the Party against whom the obligation to pay the money is asserted shall have the right to make payment
 “under protest” and such payment shall not be regarded as a voluntary payment and there shall survive the right on
the part of said Party to institute suit for recovery of such sum. If it shall be adjudged that there was no legal obligation
on the part of said Party to pay such sum or any part thereof, said Party shall be entitled to recover such sum or so much thereof
as it was not legally required to pay. A Party who does not initiate suit for the recovery of sums paid “under protest”
within 6 months shall be deemed to have waived its right to protest such payment.

 

44.         Authority;
Multiple Parties; Execution.

 

(a)          If
either Party hereto is a corporation, trust, limited liability company, partnership, or similar entity, each individual executing
this Lease on behalf of such entity represents and warrants that he or she is duly authorized to execute and deliver this Lease
on its behalf. Each Party shall, within 30 days after request, deliver to the other Party satisfactory evidence of such authority.

 

(b)          If
this Lease is executed by more than one person or entity as “Lessee”, each such person or entity shall be jointly
and severally liable hereunder. It is agreed that any one of the named Lessees shall be empowered to execute any amendment to
this Lease, or other document ancillary thereto and bind all of the named Lessees, and Lessor may rely on the same as if all of
the named Lessees had executed such document.

 

(c)          This
Lease may be executed by the Parties in counterparts, each of which shall be deemed an original and all of which together shall
constitute one and the same instrument.

 

45.         Conflict.
Any conflict between the printed provisions of this Lease and typewritten or handwritten provisions shall be controlled by
the typewritten or handwritten provisions.

 

46.         Offer.
Preparation of this Lease by either Party or their agent and submission of same to the other Party shall not be deemed an
offer to lease to the other Party. This Lease is not intended to be binding until executed and delivered by all Parties hereto.

 

47.         Amendments.
This Lease may be modified only in writing, signed by the Parties in interest at the time of the modification. As long as
they do not materially change Lessee’s obligations hereunder, Lessee agrees to make such reasonable non-monetary modifications
to this Lease as may be reasonably required by a Lender in connection with the obtaining of normal financing or refinancing of
the Premises.

 

48.         Waiver
of Jury Trial. THE PARTIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING INVOLVING THE PROPERTY
OR ARISING OUT OF THIS AGREEMENT.

 

49.         Arbitration
of Disputes. An Addendum requiring the Arbitration of disputes between the Parties and/or Brokers arising out of this Lease
 ̈ is þ
is not attached to this Lease.

 

50.         Americans
with Disabilities Act. Since compliance with the Americans with Disabilities Act (ADA) is dependent upon Lessee’s specific
use of the Premises, Lessor makes no warranty or representation as to whether or not the Premises comply with ADA or any similar
legislation. In the event that Lessee’s use of the Premises requires modifications or additions to the Premises in order
to be in ADA compliance, Lessee agrees to make any such necessary modifications and/or additions at Lessee’s expense.

 

LESSOR
AND LESSEE HAVE CAREFULLY READ AND REVIEWED THIS LEASE AND EACH TERM AND PROVISION CONTAINED HEREIN, AND BY THE EXECUTION OF THIS
LEASE SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE PARTIES HEREBY AGREE THAT, AT THE TIME THIS LEASE IS EXECUTED, THE
TERMS OF THIS LEASE ARE COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF LESSOR AND LESSEE WITH RESPECT TO THE
PREMISES.

 

ATTENTION: NO REPRESENTATION OR RECOMMENDATION IS MADE BY THE AIR COMMERCIAL REAL ESTATE ASSOCIATION OR BY ANY BROKER AS TO THE LEGAL
SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS LEASE OR THE TRANSACTION TO WHICH IT RELATES. THE PARTIES ARE URGED TO:

 

1.
SEEK ADVICE OF COUNSEL AS TO THE LEGAL AND TAX CONSEQUENCES OF THIS LEASE.

 

2.
RETAIN APPROPRIATE CONSULTANTS TO REVIEW AND INVESTIGATE THE CONDITION OF THE PREMISES. SAID INVESTIGATION SHOULD INCLUDE BUT
NOT BE LIMITED TO: THE POSSIBLE PRESENCE OF HAZARDOUS SUBSTANCES, THE ZONING OF THE PREMISES, THE STRUCTURAL INTEGRITY, THE CONDITION
OF THE ROOF AND OPERATING SYSTEMS, AND THE SUITABILITY OF THE PREMISES FOR LESSEE’S INTENDED USE.

 

WARNING: IF THE PREMISES IS LOCATED IN A STATE OTHER THAN CALIFORNIA, CERTAIN PROVISIONS OF THE LEASE MAY NEED TO BE REVISED TO COMPLY
WITH THE LAWS OF THE STATE IN WHICH THE PREMISES IS LOCATED.

 

The
parties hereto have executed this Lease at the place and on the dates specified above their respective signatures.

 

	Executed
    at:	 	 	Executed
    at:	 
	On:	        	 	 	On:	       	 
	By LESSOR:	 	By LESSEE:
	First Industrial,
    L.P., a Delaware limited partnership 	 	LOLLICUP
    USA, INC.
	 	 	 	 	A
    CALIFORNIA CORPORATION
	 	 	 	 	 	 	 
	By: First
    Industrial Realty Trust, Inc., a Maryland	 	By:	/s/ Alan
    Yu
	corporation,,
    its sole general partner 	 	Name Printed:	Alan Yu
	 	 	 	 	Title: 	CEO
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	By:	     	   
	By:	/s/ Johannson
    Yap	 	Name Printed:	   
	Name Printed: 	Johannson Yap	 	Title:	 	    
	Title: 	CHIEF INVESTMENT
    OFFICER	 	Address:	 
	 	 	 	 	 	 	 
	By:	 	 	 	Telephone: (___)	 
	Name Printed:	 	 	Facsimile:
    (___)	 

 

	 	 	 
	INITIALS	PAGE 12 OF 13	INITIALS

 

	©2001
    - AIR COMMERCIAL REAL ESTATE ASSOCIATION	FORM
    STG-14-3/10E

 

 

     

     

    

 

	Title:	 	 	 	Email:	 	 
	Address:	 	 	 	Email:	 	 
	 	 	 	 	Federal
    ID No.	 
	Telephone: (___)	 	 	 	 
	Facsimile: (___)	 	 	 	 
	Email:	  	   	 	 	 
	Email:	 	 	 	 	 
	Federal ID No. 	36-4026967	 	 	 

 

 

	BROKER:	 	BROKER:
	Lee
    & Associates - Ontario 	 	Coldwell
    Banker Commercial
	 	 	 
	 	 	 
	Att: 	Paul Earnhart
    / Steve Haston	 	Att: 	Steve Hayashi
	Title: 	Principal
    / Associate	 	Title:	 	 
	Address:
    	3535 Inland Empire
    Blvd.	 	Address:	660
    W. Huntington Drive
	 	         	Ontario,
    CA 91764	 	 	 	Arcadia,
    CA 91007
	Telephone:
    	(909)989-7771	 	Telephone:
    	(626)462-5608
	Facsimile:
    	(909)944-8250	 	Facsimile:
    	(626)446-6884
	Email: 	shaston@lee-assoc.com	 	Email: 	shayashi@coldwellbanker.
    com
	Federal ID No.	 	 	Federal
    ID No.	 

 

	Broker/Agent
    DRE License #:	00822072
    / 01358725	 	Broker/Agent
    DRE License #:	 
	 	 	 
	 	 	 

 

NOTICE:
These forms are often modified to meet changing requirements of law and industry needs. Always write or call to make sure you
are utilizing the most current form: AIR Commercial Real Estate Association, 800 W 6th Street, Suite 800, Los Angeles, CA 90017.
Telephone No. (213) 687-8777. Fax No.: (213) 687-8616.

 

©
Copyright 2001 - By AIR Commercial Real Estate Association. All rights reserved.

No part
of these works may be reproduced in any form without permission in writing.

 

	 	 	 
	INITIALS	PAGE 13 OF 13	INITIALS

 

	©2001
    - AIR COMMERCIAL REAL ESTATE ASSOCIATION	FORM
    STG-14-3/10E

 

     

     

    

 

RIDER

 

This
Rider (“Rider”) is a part of and incorporated into that certain Standard Industrial/Commercial Single-Tenant Lease-Gross
(the “Original Lease”; the Original Lease together with the Rider shall be collectively referred to herein as the
 “Lease”) dated as of January 15, 2013 by and between First Industrial, LP, a Delaware limited partnership (“Lessor”)
and Lollicup USA, Inc., a California corporation (“Lessee”). Capitalized terms used herein and not otherwise defined
herein shall have the meaning ascribed to them in the Original Lease.

 

1.      
     Conflict. If there is a conflict between the terms of this Rider and the Original Lease, the terms
of this Rider shall control.

 

2.     
      Base Rent. Lessee shall pay Base Rent to Lessor in monthly installments, in advance, on the
first day of each and every calendar month during the Term in the amounts and for the periods set forth below:

 

	Lease Period	 	Gross Monthly
    Base Rent	 
	 	 	 	 
	May 1, 2013 – July 31, 2013	 	$	0.00	 
	 	 	 	 	 
	August 1, 2013 – July 31, 2014	 	$	138,138.00	 
	 	 	 	 	 
	August 1, 2014 – July 31, 2015	 	$	142,282.14	 
	 	 	 	 	 
	August 1, 2015 – July 31, 2016	 	$	146,550.60	 
	 	 	 	 	 
	August 1, 2016 – July 31, 2017	 	$	150,947.12	 
	 	 	 	 	 
	August 1, 2017 – July 31, 2018	 	$	155,475.54	 
	 	 	 	 	 
	August 1, 2018 – July 31, 2019	 	$	155,475.54	 

 

3.      
     Option to Renew. Lessee shall have two (2) five (5) year options to renew the Term of the Lease
pursuant to the terms of Exhibit A attached hereto.

 

4.   
        Mandatory Landlord Improvements. Lessor at Lessor’s sole cost and expense
shall perform the following improvements, up to a total allowance (not to exceed) $1,350,000.00 (“Landlord Allowance”).

 

		a.	Construct an initial
                                         total of 5,558 Square Feet of office space per the office plan (see Exhibit “B”)

		b.	Install high efficiency
                                         T-5 lighting at 20 candle-foot at 36 inches AAF, throughout warehouse, per floor stack
                                         bulk storage design

		c.	Scrim and paint
                                         entire interior warehouse facility (white, one coat to cover).

 

     

     

    

 

5.     
      Optional Improvements. Lessee shall have the option to construct the following improvements
listed below. The funds for these improvements shall first come from any remaining balance in the allowance as stated in Section
4 of this rider. Any costs exceeding the Landlord Allowance shall be the sole responsibility of the Lessee. Construction
of the following improvements shall not delay Rent Commencement.

 

		a.	Construct a separate
                                         shipping and receiving office

		b.	Install up to 10
                                         — 30,000 pound mechanical dock levelers with seals

		c.	Install red and
                                         green lights at dock seals

		d.	Upgrade power an
                                         additional 1,000 amps

		e.	Construct battery
                                         charging area for forklifts

		f.	Install third ground
                                         level door on east side of building and fourth ground level door near kitchen area. Doors
                                         shall be standard 10’x14’ 25 gauge overhead drive through doors

		g.	Construct a 10’x12’
                                         guard shack at truck court entrance with HVAC, power and data access

 

6.          Further
Tenant Improvements. Any other improvements shall be at tenant’s sole cost and expense subject to Lessor approval. Said
improvements shall require prior Lessor approval, which shall not be unreasonably withheld. All work shall be done in accordance
with current city and county codes and shall be done in a first class workmanlike manner.

 

7.          Architectural/Engineering.
All costs associated with architectural, engineering, space planning work and permits required in preparation for delivery of
the premises on a “turn-key” basis shall be borne solely by Lessor and deducted from the allowance in Section 4 above,
excluding added Lessee improvements not included in the allowance.

 

8.          Counterparts.
This Rider may be executed in two (2) or more counterparts, each of which shall be considered an original and all of which, when
taken together, shall constitute one (1) instrument, A facsimile or electronic counterpart of this Rider shall be deemed an original
for all relevant purposes.

 

9.          In
the event that Lessee has not been in default of this Lease during the first thirty-six (36) months of the Lease Term, Lessee
shall have one-half (1/2) of the security deposit applied to the thirty-seventh (37th) month of rent.

 

10.        Right
of First Refusal. In the event Landlord decides to market the subject Property for Sale to a third party, before widely marketing
the Property, Landlord will notify Tenant in writing of the terms and conditions in which they are willing to sell the Property
(“Right of First REFUSAL”). The Right of First Refusal does not apply if Landlord elects to sell the Property
as part of a portfolio sale or if the Tenant is in default or has been in default under the terms and conditions of the lease.
If within Ten (10) calendar days after Tenant’s receipt of Landlord’s written notice hereunder, Tenant notifies Landlord
in writing of its intent to acquire the Property, then Landlord and Tenant shall exercise good faith efforts to negotiate a Purchase
and Sale Contract and execute the agreement within Twenty (20) days after Landlord’s receipt of Tenant’s notice of
intent to Purchase. The terms of the Purchase and Sale Agreement will be subject to Landlords Committee Approval Process. If Tenant
does not deliver an executed Right of First Refusal within such Ten (10) day period, or if Landlord and Tenant do not enter into
a fully executed P&S Contract within Twenty (20) days, then the Right of First of First Refusal shall be deemed waived. In
no event shall the closing occur after 45 days from the Tenant’s receipt of Landlord’s written notice. This Right
of First Refusal is personal to Tenant and is not assignable or transferable. The Right of First Refusal is a one-time right and
shall only be available to Tenant during the initial Term of the Lease as long as they are not in default

 

     

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Rider as of the date of the Original Lease.

 

	LESSOR:	 	LESSEE:
	 	 	 
	FIRST
    INDUSTRIAL, LP, a Delaware limited partnership	 	LOLLICUP
    USA, INC., a California corporation
	 	 	 
	By:	First Industrial Realty
    Trust Inc., a Maryland corporation, its sole general partner	 	 
	 	 	 
	By:	/s/ Johannson Yap	 	By:	/s/ Alan Yu
	 	Johannson Yap	 	 
	 	Chief Investment Officer	 	 
	 	 	 
	Date:	2/11/2013	 	Date:	2/8/13

 

     

     

    

 

EXHIBIT
A

 

OPTION
TO RENEW

 

1.          Lessee
shall have the option (“Renewal Option”) to renew this Lease for two (2) consecutive terms of Sixty (60) months
(“Renewal Term”), on all the same terms and conditions set forth in this Lease, except that Base Rent during
the Renewal Terms shall be equal to the greater of (i) 95% of Fair Market Rent (as defined in Section 2 below) and (ii)
the Renewal Rent Floor (as defined below). The “Renewal Rent Floor” shall be the rate of Base Rent in effect
as of the expiration of the Original Term or the first Renewal Term, as applicable. Lessee shall deliver written notice to Lessor
of Lessee’s election to exercise the Renewal Option (“Renewal Notice”) not less than nine (9) months,
nor more than twelve (12) months, prior to the expiration date of the Original Term or the then-current Renewal Term, as applicable;
and if Lessee fails to timely deliver the Renewal Notice to Lessor, then Lessee shall automatically be deemed to have irrevocably
waived and relinquished the Renewal Option.

 

2.          “Fair
Market Rent” shall be determined by Lessor, in its sole, but good faith, discretion based upon the annual base rental
rates then being charged (as of the date on which Lessee delivers the applicable Renewal Notice) in the industrial market sector
of the geographic area where the Building is situated for comparable space and for a lease term commencing on or about the commencement
date of the applicable Renewal Term and equal in duration to the applicable Renewal Term, taking into consideration: the geographic
location, quality and age of the building; the location and configuration of the relevant space within the applicable building;
the extent of service to be provided to the proposed Lessee thereunder; applicable distinctions between “gross” lease
and “net” leases; the creditworthiness and quality of Lessee; leasing commissions; and any other relevant term or
condition in making such evaluation, as reasonably determined by Lessor. Lessor shall notify Lessee of Lessor’s determination
of Fair Market Rent for the Renewal Term, in writing (the “Base Rent Notice”) within thirty (30) days after
receiving the applicable Renewal Notice.

 

3.          Lessee
shall then have fifteen (15) days after Lessor’s delivery of the Base Rent Notice in which to advise Lessor, in writing
(the “Base Rent Response Notice”) whether Lessee (i) is prepared to accept the Fair Market Rent established
by Lessor in the Base Rent Notice and proceed to lease the Premises, during the Renewal Term, at the greater of (y) 95% of that
Fair Market Rent or (z) the Renewal Rent Floor; or (ii) elects to withdraw and revoke its Renewal Notice, whereupon the Renewal
Option shall automatically be rendered null and void; or (iii) elects to contest Lessor’s determination of Fair Market Rent.
In the event that Lessee fails to timely deliver the Base Rent Response Notice, then Lessee shall automatically be deemed to have
elected (i) above. Alternatively, if Lessee timely elects (ii), then this Lease shall expire on the original expiration date of
the initial Term or the then current Renewal Term, as applicable. If, however, Lessee timely elects (iii), then the following
provisions shall apply:

 

3.1           The
Fair Market Rent shall be determined by either the Independent Brokers or the Determining Broker, as provided and defined below.

 

     

     

    

 

3.2           Within
fifteen (15) days after Lessee delivers its Base Rent Response Notice, electing (iii), each of Lessor and Lessee shall advise
the other, in writing (the “Arbitration Notice”) of both (i) the identity of the individual that each of Lessor
and Lessee, respectively, is designating to act as Lessor’s or Lessee’s, as the case may be, duly authorized representative
for purposes of the determination of Fair Market Rent pursuant to this Section 3 (the “Representatives”); and (ii) a list of three (3) proposed licensed real estate brokers, any of which may serve as one of the Independent Brokers
(collectively, the “Broker Candidates”). Each Broker Candidate:

 

		(A)	shall be duly licensed in the jurisdiction in which the
Premises is located;

 

		(B)	shall have at least five (5) years’ experience,
on a full-time basis, leasing industrial space (warehouse/distribution/ancillary office) in the same general geographic area as
that in which the Premises is located, and at least three (3) of those five (5) years of experience shall have been consecutive
and shall have elapsed immediately preceding the date on which Lessee delivers the Renewal Notice; and

 

		(C)	shall be independent and have no then-pending (as of
the date Lessor or Lessee designates the broker as a Broker Candidate) brokerage relationship, formal or informal, oral or written,
with any or all of Lessor, Lessee, and any affiliates of either or both of Lessor and Lessee (“Brokerage Relationship”), nor may there have been any such Brokerage Relationship at any time during the two (2) year period immediately preceding the
broker’s designation, by Lessor or Lessee, as a Broker Candidate.

 

3.3           Within
fifteen (15) days after each of Lessor and Lessee delivers its Arbitration Notice to the other, Lessor and Lessee shall cause
their respective Representatives to conduct a telephonic meeting at a mutually convenient time. At that meeting, the two (2) Representatives
shall examine the list of six (6) Broker Candidates and shall each eliminate two (2) names from the list on a peremptory basis.
In order to eliminate four (4) names, first, the Lessee’s Representative shall eliminate a name from the list and then the
Lessor’s Representative shall eliminate a name therefrom. The two (2) Representatives shall alternate in eliminating names
from the list of six (6) Broker Candidates in this manner until each of them has eliminated two (2) names. The two (2) Representatives
shall immediately contact the remaining two (2) Broker Candidates (the “Independent Brokers”), and engage them,
as behalf of Lessor and Lessee, to determine the Fair Market Rent in accordance with the provisions of this Section 3.

 

3.4           The
Independent Brokers shall determine the Fair Market Rent within thirty (30) days of their appointment. Lessor and Lessee shall
each make a written submission to the Independent Brokers (no more than ten (10) pages in length, in the aggregate, per submitting
party), advising of the rate that the submitting party believes should be the Fair Market Rate, together with whatever written
evidence or supporting data that the submitting party desires in order to justify its desired rate of Fair Market Rent; provided,
in all events, however, that the aggregate maximum length of each party’s submission shall not exceed ten (10) pages (each
such submission package, a “FMR Submission”). The Independent Brokers shall be obligated to choose one (1)
of the parties’ specific proposed rates of Fair Market Rent, without being permitted to effectuate any compromise position

 

     

     

    

 

3.5           In
the event, however, that the Independent Brokers fail to reach agreement, within twenty (20) days after the date on which both
Lessor and Lessee deliver the FMR Submissions to the Independent Brokers (the “Decision Period”), as to which
of the two (2) proposed rates of Fair Market Rent should be selected, then, within five (5) days after the expiration of the Decision
Period, the Independent Brokers shall jointly select a real estate broker who (x) meets all of the qualifications of a Broker
Candidate, but was not included in the original list of six (6) Broker Candidates; and (y) is not affiliated with any or all of
(A) either or both of the Independent Brokers and (B) the real estate brokerage companies with which either or both of the Independent
Brokers is affiliated (the “Determining Broker”). The Independent Brokers shall engage the Determining Broker
on behalf of Lessor and Lessee (but without expense to the Independent Brokers), and shall deliver the FMR Submissions to the
Determining Broker within five (5) days after the date on which the Independent Brokers select the Determining Broker pursuant
to the preceding sentence (the “Submission Period”).

 

3.6           The
Determining Broker shall make a determination of the Fair Market Rent within twenty (20) days after the date on which the Submission
Period expires. The Determining Broker shall be required to select one of the parties’ specific proposed rates of Fair Market
Rent, without being permitted to effectuate any compromise position.

 

3.7           The
decision of the Independent Brokers or the Determining Broker, as the case may be, shall be conclusive and binding on Lessor and
Lessee, and neither party shall have any right to contest or appeal such decision. Judgment may be entered, in a court of competent
jurisdiction, upon the decision of the Independent Brokers or the Determining Broker, as the case may be.

 

3.8           In
the event that the initial Term expires and the Renewal Term commences prior to the date on which the Independent Brokers or the
Determining Broker, as the case may be, renders their/its decision as to the Fair Market Rent, then from the commencement date
of the Renewal Term through the date on which the Fair Market Rent is determined under this Section 3 (the “Determination
Date”), Lessee shall pay monthly Base Rent to Lessor at a rate equal to 110% of the rate of monthly Base Rent in effect
on the expiration date of the initial Term (the “Temporary Base Rent”). Within ten (10) business days after
the Determination Date, Lessor shall pay to Lessee, or Lessee shall pay to Lessor, depending on whether the Base Rent for the
Renewal Term is less than or greater than the Temporary Base Rent, whatever sum that Lessor or Lessee, as the case may be, owes
the other (the “Catch-Up Payment”), based on the Temporary Base Rent actually paid and the Base Rent due (as
determined by the Independent Brokers or the Determining Broker, as the case may be) during that portion of the Renewal Term that
elapses before the Catch-Up Payment is paid, in full (together with interest thereon, as provided below). The Catch-Up Payment
shall bear interest at the rate of Prime (defined below), plus five percent (5.0%) per annum from the date each monthly component
of the Catch-Up Payment would have been due, had the Fair Market Rent been determined prior to the commencement of the Renewal
Term, through the date on which the Catch-Up Payment is paid, in full (inclusive of interest thereon). For purposes hereof, “Prime”
shall mean the per annum rate of interest publicly announced by Wells Fargo Bank, N.A. (or its successor), from time to time,
as its “prime” or “base” or “reference” rate of interest.

 

     

     

    

 

3.9     
       The party whose proposed rate of Fair Market Rent is not selected by the Independent Brokers
or the Determining Broker, as the case may be, shall bear all costs of all counsel, experts or other representatives that are
retained by both parties, together with all other costs of the arbitration proceeding described in this Section 3, including,
without limitation, the fees, costs and expenses imposed or incurred by any or all of the Independent Brokers and the Determining
Broker.

 

3.10         Unless
otherwise expressly agreed in writing, during the period of time that any arbitration proceeding is pending under this Section
3, Lessor and Lessee shall continue to comply with all those terms and provisions of this Lease that are not the subject of
their dispute and arbitration proceeding, most specifically including, but not limited to, Lessee’s monetary obligations
under this Lease; and, with respect to the payment of Base Rent during that portion of the Renewal Term that elapses during the
pendency of any arbitration proceeding under this Section 3, the provisions of Section 3.8 shall apply.

 

3.11         During
any period of time that an arbitration is pending or proceeding under this Section 3, Lessee shall have no right to assign
this Lease or enter into any sublease for all or any portion of the Premises, notwithstanding any provision to the contrary in
this Lease. Furthermore, if this Lease requires that Lessor perform any Lessee improvement work in connection with the Renewal
Term, Lessor shall be relieved of any such obligation during the pendency of any arbitration proceeding under this Section
3.

 

4.      
     The Renewal Option is granted subject to all of the following conditions:

 

(a)          As
of the date on which Lessee delivers its Renewal Notice and continuing through the commencement date of the Renewal Term, this
Lease shall be in full force and effect and no act or omission shall occur which, with the giving of notice or the passage of
time, or both, shall constitute a Breach or Default by Lessee under this Lease.

 

(b)          There
shall be no further right of renewal after the expiration of the second Renewal Term.

 

(c)          The
Renewal Option is personal to Lessee. In the event that Lessee assigns its interest under this Lease or subleases all or any portion
of the Premises, whether or not in accordance with the requirements of this Lease, and whether directly or indirectly, the provisions
of this Exhibit A, shall not be available to, or run to the benefit of, and may not be exercised by, any assignee or sublessee.

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