Document:

Exhibit
10.7

 

Consulting
Service Agreement 

 

The
consulting and service agreement (hereinafter referred as “the agreement”) is concluded by the following two
parties (hereinafter referred as “two parties of the agreement”) in Shenzhen City, Guangdong Province, the People’s
Republic of China (hereinafter referred as “China”):

 

Party
A: CXJ (Shenzhen) Technology Co., Limited

 

Add:3607B1,
Block A, Xinghe Shiji Building, Southwest of the junction of Shenzhen Avenue and CaiTian Road, Futian District, Shenzhen City,
China.

 

Party
B: CXJ Technology (Hangzhou) Co., Limited

 

Add:
Room 1903-1, Xizi International Center, Jianggan District, Hangzhou City, Zhejiang Province, China.

 

Preface

 

(1)
Party A is an exclusively foreign-owned enterprise, which has been legally founded and effectively exists in China. It has professional
knowledge, capacity and resources of providing consulting and service.

 

(2)
Party B is a limited liability company registered and founded in China. Party B undertakes the development and research, production
and distribution businesses of hi-tech technology in the auto environmental protection field (hereinafter referred as “the
business”).

 

(3)The
both parties hope Party A to provide management, technology consulting service and relevant service to Party B.

 

(4)The
purpose that the both parties sign the agreement is to regulate that Party A shall provide consulting service to Party B based
upon terms and conditions.

 

Therefore,
the both parties shall conclude the following agreements:

 

1.
Definition 

 

1.1
In this definition, the corresponding meanings of the following terms are as follow:

 

“Related
parties” mean to anyone, any other person directly or indirectly control the person, is co-controlled with the person
or is co-controlled by the person. In the definition, “control” means to directly or indirectly control or
manipulate the management activities or policies of another person (including owing the securities of another person, other owner’s
equity or being partner with another person in accordance with the contract or in other way).

 

    	1

     

    

 

Refer
to term 3.1 for the definition of “Consulting service charge”.

 

“Debt”
means to anyone, (i) all funds, which are borrowed by the person to pay for the deferred purchase price of assets or service (including
principal, interest, fees and charges); (ii) all L/C issued according to the amount of debt of the person and the face amount
of all drafts issued according to such L/C; (iii) all debts taking any encumbrance as the guarantee set upon any property owned
by the person whether the person has undertaken such debt or not; (iv) gross amounts of lease capitalization taking the person
as the tenant; and (v) all contingent liabilities of the person (including but not limited to all guarantee of the third party).

 

“Encumbrance”
means the legal limit to any type of asset, including but not limited to lien, encumbrance, guarantee, rights of others, agency
of right to vote, trust of right of voting or similar arrangement, pledge, security interests, subordinate guarantee agreement,
mortgage objection, defects of ownership, reserve protocol of ownership, option, restrictive covenants, transfer limit, preemptive
right or preferred right to offer, or any similar equity, or legal limit in any nature.

 

“Person”
means any person, legal person, company, society under voluntary association, partnership, joint venture enterprise, trust, non-corporate
organization, equity or other organization or any government body.

 

“China”
means the People’s Republic of China.

 

“Service”means
the service planned to be provided to Party B by Party A in accordance with the agreement. For more detailed description on service,
please refer to Article 2. In the agreement, unless the context otherwise requires, “Article” is the term of the agreement.

 

1.2
All headlines in the agreement do not affect the interpretation to the agreement.

 

2.Employment
and service scope 

 

2.1
Party B agrees to employ Party A to provide service relating to the business at present with Party A and planned to operate in
China according to the terms and conditions of the agreement. Party A shall also accept Party B’s employment. The service
subject to the agreement includes but is not limited to:

 

    	2

     

    

 

2.1.1
Operation service of general business. Provide related suggestions and assistance with the development of technology, as well
as provide consulting service, especially the consulting service related to auto environmental protection.

 

2.1.2
Human resources service

 

(i)
to provide suggestions and assistance related to Party B’s working staff, including the assistance of recruitment, employment,
secondment of administrative staff, executive staff and Party B’s working staff;

 

(ii)
to train Party B’s management, staff and administrative staff;

 

(iii)
to assist Party B to develop the sound salary management control system;

 

(iv)
to provide suggestions and assistance related to the relocation of Party B’s management staff and workers.

 

2.1.3
Research and development service

 

(i)
to provide suggestions and assistance related to the research and development to Party B;

 

(ii)
to provide suggestions and assistance related to the development of the industry; and

 

2.1.4
Other service. Provide other suggestions and assistance to Party B according to the agreement of both parties.

 

2.2
Exclusive service provider. Within the period of validity in the agreement, Party A is the exclusive provider of service.
Unless Party A’s prior written approval is achieved, Party B shall not seek or accept similar service from other service
providers.

 

2.3
Intellectual property related to service. Any right, ownership, equity and intellectual property (including but not limited to
copyright, patent right, technical secrets, commercial secrets and others). Whether it is developed by Party A independently,
or by Party B based on Party A’s intellectual property, or by Party A based on Party B’s intellectual property, Party
A shall enjoy the exclusive and sole right and equity and Party B shall not claim any right, ownership, right and intellectual
property to Party A.

 

However,
if the development is conducted by Party A based on Party B’s intellectual property, Party B shall make sure that there
is no defect in the intellectual property. If the loss occurs to Party A, Party B shall undertake it. If Party A undertakes the
compensation responsibility to any third person for this, after such compensation is made, Party A shall have the right to pursue
the recovery from Party B for all loss .

 

    	3

     

    

 

2.4
Pledge. Party B shall allow and promote Party B’s shareholders to pledge Party B’s equity held by Party B’s
shareholder to party A, which shall be taken as the guarantee of Party B for the payment provided to Party A according to the
agreement.

 

3.Payment

 

3.1
General regulations.

 

3.1.1
Within the period of validity of the agreement, Party B shall pay the consulting service charge to Party A (hereinafter referred
as “Consulting Service Charge”) as the return for the service provided by Party A according to the agreement.
Party B shall pay the consulting service charge with Chinese Yuan [according to the quarter]. Its amount shall be confirmed on
the basis of all income in the current season recorded in the quarterly financial statement prepared according to the following
Term 5.1. Party B shall pay the consulting service charge in the season to party A within 15 days since the day when Party A receives
the above financial statement.

 

3.1.2
When Party A puts forward reasonable requirements, Party B shall allow Party A or Party A’s agent or representative (including
independent public accountants, who can be Party B’s) to regularly audit (i) Party B’s account book and record from
time to time; (ii) check, duplicate and excerpt all account books, records and documents (including, but not limited to tapes
and disks used in the computer) owned by Party B or under Party B’s control; (iii) visit Party C’s workplace and property
in the purpose of checking the materials stated in (ii) and (iv) discuss with Party B’s relevant senior clerks or staff
about the matters related to Party B’s behavior of implementing the agreement. Such senior clerks or staff mean Party B’s
senior clerks or staff knowing about such matters. Party A can exercise the auditing right stated above any time after notifying
Party B 10 days earlier. Such written notice shall record the scope, purpose and lasting time of such auditing. However, all of
such auditing shall be conducted in the way of not disturbing Party B’s normal operation.

 

3.2
Unless prior written approval from Party A, Party B shall have no right to offset any account owed by Party A, which Party B claims,
and any consulting service charge paid to Party A.

 

3.3
Party B shall wire the consulting service charge into Party A’s account with Chinese Yuan. Party A’s account information
is shown as follows (Party A can designate other account in the written form):

 

3.4
If Party B does not pay all or part matured consulting service charge to Party A according to the term regulated in the article
(i.e. Article 3), Party B shall pay Party A interest of overdue amount in Chinese Yuan according to the interest rate of three-month
Chinese Yuan loan publicized by Bank of China on relevant maturity date.

 

    	4

     

    

 

3.5
Party B shall pay all funds according to the agreement (excluding taxes). Party B shall not deduct tax from such funds, unless
Party B must pay withholding taxes when paying such funds.

 

4.
Clauses of further cooperation

 

Party
B shall deposit all business income into the bank account designated by Party A.

 

5.
Party B’s guarantee

 

Party
B hereby agrees that within the period of validity of the agreement:

 

5.1
Promise of information. Party B shall be provided:

 

5.1.1
Preliminary monthly statement. Within five days when each calendar month ends, preliminary income statement and balance
sheet prepared as of the ending of the calender month according to China Generally Accepted Accounting Principles, which has been
continued to be applicable.

 

5.1.2
Final monthly statement. Within 10 days at the ending of each calender month, the final statement of partial financial
status, operation results and matters transaction results prepared as of the day when the calender month ends according to China
Generally Accepted Accounting Principles, which has been continued to be applicable, and of the corresponding financial year in
the past. Such statement shall include the comparable chart of Party B in the last financial year in the same period.

 

5.1.3
Quarterly statement. Within 45 days since the end of each quarter (refer to the definition in the following text), concluded
income statement, concluded retained earnings statement and changes of concluded financial status statement of Party B in the
season and in the relevant financial year in the period from the beginning of the financial year to the ending date of such season,
which have not been audited, as well as the statement of changes in financial position (if applicable) of Party B and Party B’s
subsidiary and the consolidated balance sheet, which takes the ending date of the season as the expiration date, can be available.
Such statement shall record the comparison of Party B’s actual expenditures and budget and include the comparison table
of corresponding consolidated data of Party B in the last financial year in the same period. At the same time, relevant certificate
issued by Party B’s chief financial officer is attached. The certificate shall clearly state that such financial statement
has fairly reflected consolidated financial status and operating results of Party B and Party B’s subsidiary and is prepared
according to China Generally Accepted Accounting Principles, which remains applicable as of the ending of corresponding statement
period (such statement period is subject to the year-end audit adjustment and the note of audited financial statement).

 

    	5

     

    

 

5.1.4
Audited annual accounts. Within 6 months at the ending of each financial year, Party B’s relevant annual accounts,
which have been prepared according to China Generally Accepted Accounting Principles, keeping applicable, and have been audited
(Under any case, such annual account shall list the corresponding data in the last financial year in the form of comparing the
table).

 

5.1.5
Budget. Before the beginning of each financial year, within at least 90 days, the budget of each financial season within
such financial year is prepared according to the format matching Party A’s requirements (including Revenue Budgets Income
Statement, Cash Source, Use Statement and the balance sheet). Besides, relevant statement issued by Party B’s chief financial
officer is attached. Party B’s CFO shall state in such statement that as far as he/she knows, such budget is the reasonable
estimate to income, income source, financial expenditure, etc. within the corresponding budget term.

 

5.1.6
Notice of Action. Notice relating to the following events: (i) any lawsuit or administrative procedure, which may point
to Party B and may disadvantageously influence Party B’s business, operation, property, asset status or Party B’s
earnings prospect; (ii) any other possible event, which may disadvantageously influence Party B’s business, operation, property,
asset status or Party B’s earnings prospect. Party B shall send such notice to Party A in time. (Under any case, Party B
shall send such notice to Party A within one working day after any senior staff knows about such event).

 

5.1.7
Other information. Other information or documents (financial documents or in other aspects) provided by Party B under the
request of Party A. In the agreement, “the ending day of the season” is Mar 31, Jun 30, Sep 30, and Dec 30 in every
year. The ending day of the first season shall be the first Mar 31, Jun 30, Sep 30 and Dec 31 after the day when the agreement
is signed. However, if any ending day of the season is not working day in China, the ending day of the season shall be delayed
to the next working day in China.

 

5.2
Booklet, record and check. Party B shall store the record book and accounts containing the complete, real and precise entries
and shall make sure that it matches Chinese GAAP and all requirements in law about all business dealings and transactions relating
to Party B’s business and activities. Party B shall allow Party A’s senior staff and the representatives designated
by Party A to visit and check their any operation field under the guidance of their senior staff, check their record book and
entries and discuss with Party A’s senior staff about Party B’s all events, financial affairs and entries. Party A’s
senior staff and the representatives designated by Party A conduct all activities stated above according to the intervals and
reasonable degree required by Party A in all reasonable time.

 

5.3
Franchise rights of the company. Party B shall adopt or instruct Party B’s relevant staff to adopt all necessary
measures, so as to maintain its subject qualification and existence and sufficient force of Party B’s major rights, franchise
rights and right of licenced use.

 

    	6

     

    

 

5.4
Affairs of following laws. Party B shall follow all applicable laws, regulations and decrees, as well as all applicable
limited conditions imposed upon by all government institutes aiming at its business behavior and property ownership right, including,
but not limited to store the valid and correct government approval paper and license when providing services, unless even though
such laws, regulations and decrees, as well as limited conditions are not followed, Party B’s business, operation, property,
asset status or Party B’s profit prospect will not suffer gross and unfavorable effect in general.

 

6.
Negalive Covenants

 

Party
B promises and agrees that within the period of validity of the agreement, without prior written agreement from Party A, the following
behavior will not be implemented:

 

6.1
Stock right.Party B shall not issue, purchase or redeem its any stock right or bond.

 

6.2
Encumbrance. Party B shall set, incur or undertake any encumbrance upon any property or asset, which have been owned right
now or obtained later (whether or not such property or asset is real estate, or personal property or asset, or such property or
asset is tangible property or asset or intangible property or assets), or allow the existence of any such encumbrance. However,
the regulations of the article (i.e. Article 6.2) do not forbid setting, incurring, undertaking or having the following encumbrance:

 

6.2.1
Aiming at the encumbrance set by the undue taxes or the encumbrance set by aiming at the taxes suffering the well-meaning questioning
in relevant legal procedure. In addition, Party B has established sufficient reserve aiming at such taxes. And

 

6.2.2
Encumbrance set upon Party B’s property or asset by law and matching the following conditions during the daily business
process: (1) such encumbrance will not have the gross value of such property or asset greatly reduced, or have the use value of
such property or asset seriously decreased during the process of Party B’s operation business, or (2) such encumbrance has
suffered well-meaning questioning during the related legal procedure. Besides, such legal procedure has the effect to stop foreclosure
or sale of such property or asset from being constrained by any such encumbrance.

 

6.3
Consolidate, merge and sell assets, etc. Party B shall not close a business, be liquidated or dismissed, reach any merging
or consolidated transaction or transfer, sell, lease or dispose in other way (or agree to perform the events stated above in any
time in the future) its all or partial property or asset, or purchase or acquire any part of any one’s property or asset
(in once or a series of related transactions) (excluding the situations of taking over inventory, materials and facility in other
way during the daily operation business), unless (i) Party B can sell inventory during the daily business process; (ii) Party
B can sell the equipment during the daily operation process, which may not be profited or be outdated.

 

    	7

     

    

 

6.4
Dividend. Party B shall not declare or pay any dividend, or refund any asset to its shareholders, or authorize or allocate
or pay any other fund or deliver any property or cash to its shareholders on its own account, by taking paying certain consideration
as the condition, directly or indirectly redeem, collect back, purchase or acquire in other way any type of any share, which has
been issued at present or later (or any stock right or any warrant relating to its capital stock issued by it), or reserve any
capital for any purpose stated above.

 

6.5
Lease. Party B shall not allow the gross amount of the funds (inclduing but not limited to any house property tax paid
in the name of extra rental or rent expense) paid by it according to any lease agreement about any real estate or private property
within any accounting year over [RMB 1 million].

 

6.6
Debts. Party B shall not sign any debt contract, or create, incur or undertake any debt or allow the existence of any debt,
not including the accrued charge and the funds from floating trade, which should be paid, and the debts appearing based on the
trade L/C issued during the daily operation process and matching the following conditions (the purpose that Party B has such debt
is to achieve the capital to purchase commodities. Besides, such debts shall be fully repaid within [one ] year since the day
when it appears initially).

 

6.7
Advance payment, investment and loan. Party B shall not lend any fund or credit to any person, or provide advance payment
to any person, purchase or acquire any stock, debt or security or any other interest from any person, or fund any person, unless
Party A can collect back funds payable appearing during the daily business process.

 

6.8
Transactions with the related parties. Whether or not in the daily operation process, Party B shall not reach any transaction
or a series of related transactions with any related part, excluding the related transaction according to the terms and conditions
favorable to it in nature. Such terms and conditions mean the ones which can be achieved when Party B has conducted the comparable
fair transaction with the people but not the related parties on this premise of achieving Party A’s prior written agreement.

 

6.9
Capital expenditure. In the following any period (one accounting period in general), the total amount of Party B’s
any fixed asset or expenditure of capital and assets (including but not limited to the maintenance and repair expenditure according
to the capitalization of Chinese GAAP) should not surpass the amount in the beginning of the year corresponding to the accounting
year.

 

    	8

     

    

 

6.10
Amendment of debt arrangement, agreement or the article of association. Party B shall not (i) pay or prepay, or redeem
or acquire any exiting debt voluntarily or optionally (including but not limited to before relevant funds or securities are due,
deposit the funds to the bailee, which shall be paid when current debts are due), (ii) modify or amend, or allow to modify or
amend any existing debt or any agreement relevant to any item stated above (including but not limited to any purchase agreement,
covenant, loan agreement or guarantee agreement), or (iii) modify, amend or change its article of association or business license,
any concluded agreement relating to its capital stock, or new agreement relating to its capital stock.

 

6.11
Business scope. Unless written agreement from Party A is achieved, Party B shall not (directly or indirectly) undertake
any business within the operation scope regulated by its business license.

 

7.
Validity and termination

 

7.1
The agreement shall take effect since the day it is signed. Unless it is terminated according to the regulation of Article 7.2,
the agreement shall remain full force.

 

7.2
Under the following cases, the agreement can be terminated:

 

7.2.1
If any party seriously violates the agreement (including, but not limited to the consulting service charge unpaid by Party B)
and the default belongs to the behavior, which is not non-financial obligation, but can be remedied, the defaulting party does
not adopt remedy measures after receiving the written notice from the observant party within 14 days, then the observant party
can terminate the agreement after being noticed of defaulting in the written form.

 

7.2.2
If any party goes bankruptcy or suffers insolvency, is implementing the liquidation or dissolution procedure, bonded by the arrangement
of liquidation or dissolution, stops carrying on business or repaying its matured debts, the other side can terminate the agreement
after notifying the side in the written form.

 

7.2.3
If Party A stops operating due to any reason, any party can terminate the agreement after issuing the written notice to the other
side.

 

7.2.4
If party B’s business license or any other license or approval paper for carrying out operation activities are terminated,
canceled or revoked, any side can terminate the agreement after sending out the written notice to the other side.

 

    	9

     

    

 

7.2.5
If the cases appear, which may unfavorably affect the implementation or the goals of the agreement, any side can terminate the
agreement after sending out the written notice to the other side. Or

 

7.2.6
Party A can decide to terminate the agreement on its own, whether or not if it states the reasons of terminating the agreement.

 

7.3
If one side properly terminates the agreement according to the regulations of Article 7.2, the side does not need to undertake
compensation, supplement or damage compensate responsibility only due to it implements the right of termination. Even if the period
of validity of the agreement expires or is terminated, it shall not affect Party B’s responsibility to go on paying any
consulting service charge, which has appeared or should be paid to Party A, for it is due. When the validity of the agreement
expires or is terminated, according to the agreement, the funds, which have been due, but not have been paid to Party A by Party
B, as well as all other funds, which Party B shall pay to Party B, but are not due, shall be due right away and paid.

 

8.
Party A’s remedy channels after Party B defaults

 

In
addition to the remedy channels regulated by other articles in the agreement, Party A shall have the right to achieve the remedy
channels allowed by Chinese laws, including but not limited to acquire the compensation of any direct or indirect loss arisen
due to Party B’s default behavior, as well as the counsel fee appearing for recovering the loss due to such default behavior.

 

9.
Agency

 

The
both parties are independent contractors. Besides, any regulation about the agreement is interpreted to be that for any purpose,
one side shall be the agent, partner, legal person or employer of the other side. Unless otherwise specified in this Agreement,
any side shall have no right to implement the behaviors with binding force to the other side.

 

10.
Settlement of Disputes

 

When
the both sides of the agreement have disputes about the explanation and implementation of articles under the agreement, the both
sides shall kindly negotiate to solve such disputes. If the negotiation fails, any side can submit relevant disputes to China
International Economic and Trade Arbitration Commission, which shall be solved by arbitration through effective arbitration rules
then. The arbitration location is in [Shenzhen] and the language serving the arbitration is Chinese. The arbitration decision
shall be final and have binding force to both parties. The regulation of the article is not affected by the termination or cancellation
of the agreement.

 

    	10

     

    

 

In
addition to the affairs that the both sides of the agreement have disputes, the both sides of the agreement shall go on implementing
their obligations respectively according to the regulation of the agreement based on the good-will principles.

 

11.
Transfer

 

Neither
side shall assign or transfer any part in this Agreement without the prior written consent of the other side.Therefore, any such
assignment or transfer shall be ineffective acts. However, Party A may assign its rights and obligations under this Agreement
to its related parties.

 

12.
Notice

 

Any
side shall write in English and Chinese the notice or other letters sent according to the agreement, which shall be sent to the
following designated address of the other side or the address designated by the other side from time to time in any following
way:delivered by hand; sent in the way of registered mail, the mail under postage prepaid or approved express company; or sent
by fax.The date when such notice is formally sent shall be confirmed according to the following regulations: (1) once the notice
delivered to the recipient by hand shall be considered to be sent formally; (2)the notice shall be considered to be formally sent
by mailing in the form of registered mail by air under postage prepaid within ten (10) days since the day when it is sent out
(subject to the date shown on the postmark) or since the notice delivered to the express service company approved publicly in
the world for four (4) days; (3) by means of the notice sent by fax since the day when it is received (subject to the time shown
on the relevant documents, which are being sent and waited for being confirmed).

 

	Party
    A:	 	CXJ
    (Shenzhen) Technology Co., Limited
	 	 	Add:3607B1,
    Block A, Xinghe Shiji Building, Southwest of the junction of Shenzhen Avenue and CaiTian Road, Futian District, Shenzhen City,
    China.
	 	 	Recipient:Lixin
    Cai
	 	 	Fax:
	 	 	Tel:
	 	 	 
	Party
    B:	 	CXJ
    Technology (Hangzhou) Co., Limited
	 	 	Add:
    Room 1903-1, Xizi International Center, Jianggan District, Hangzhou City, Zhejiang Province, China.
	 	 	Recipient:
    Lixin Cai
	 	 	Tel:
	 	 	Fax:

 

    	11

     

    

 

13.
General terms 

 

13.1
Even if any side can not or delays in exercising its any right or right of relief under the terms of the contract, it can not
constitute that the side has given up such right or right of relief, or the side has given up any other right or right of relief
under the terms of the agreement. Even if any side only exercises any item of rights or right of relief under the terms of the
agreement or partially exercises such right or right of relief, it can not hamper it to further exercise such right or right of
relief, or even any other right or right of relief.

 

13.2
Even if all or any part of any provision of this Agreement is declared invalid or unenforceable for any reason, all other provisions
in this Agreement or all other parts of this article shall remain in full force.

 

13.3
The agreement has constituted the entire agreement reached by both parties for the subject in the agreement, and shall replace
all relevant agreements formerly.

 

13.4
No amendment or change to this Agreement shall be effective unless made in writing and signed by the parties or their respective
agents.

 

13.5
The agreement is in duplicate, with Party A and Party B holding one original copy respectively. All original copies shall have
the same legal force.

 

[The
following is the signing page]

 

    	12

     

    

 

Both
sides have demanded their own legal person and their representatives formally authorized to formally sign the agreement on the
date stated in the first part of the agreement. This is hereby to prove. 

 

 

	 Party
    A: 	CXJ
    (Shenzhen) Technology Co., Limited 	 
	 	 	 
	   	 Signature: 
	 /s/
                                         Lixin Cai 
	 
	 	Name:	 Lixin
Cai 
	 
	 	Position:	 Legal
                                         representative, Director 
	 
	 	 	 	 
	Party
    B: 	CXJ
                                         Technology (Hangzhou) Co., Limited
	 
	 	 	 
	 	 Signature: 	 /s/
                                         Lixin Cai 
	 
	 	Name:	 Lixin
                                         Cai 
	 
	 	Position:	 Legal
                                         representative, Director 
	 

 

 Dated:
May 28, 2020MULTI-TENANT NET LEASE (BUSINESS PARK – OREGON)

 

	SECTION 1.	LEASE TERMS.	 
	1.1Date of Lease	__________________, 2020
	 	 
	1.2Tenant:	Humboldt Street Collective, LLC	(“Tenant”)
	 	 	 
	Trade Name: Premises Address:	
        Great Notion
Brewing & Barrel House

        2755 NW Nicolai Street

        Portland, Oregon 97210
	 
	 	 	 
	
        Notice Address:

         
	
        2444 NW 28th Avenue

        Portland, Oregon 97210
	 
	 	 	 
	
        E-Mail Address:
	__________________	 
	 	 	 
	1.3Landlord: Notice Address:	
        Schmitt Industries, Inc.

        2765 NW Nicolai Street 

        Portland, Oregon 97210
	(“Landlord”)
	 	 	 
	E-Mail Address:	__________________	 
	 	 	 
	Address for Payment of Rent:	
        2765 NW Nicolai Street

        Portland, Oregon 97210
	 

 

1.4             “Project:” That certain real property with two buildings located thereon, which buildings contain
the total of approximately 11,673 square feet of area, commonly known as Schmitt Industries, situated at 2765
-2755 NW Nicolai Street, Portland, Oregon, as such Project may be modified by Landlord from time to time. The land on which
the Project is located is legally described on Exhibit A, attached hereto and
incorporated herein by reference. The Project and all buildings and appurtenances therein are as substantially shown on the Project
Site Plan attached hereto as Exhibit B-1, and incorporated herein by reference.

 

1.5            “Building:” Building No. 2 located within the Project with a street address of 2755 NW Nicolai
Street, which Building contains approximately 3,961 rentable square feet and is shown on the Building Site Plan attached
hereto as Exhibit B-2, and incorporated herein by reference.

 

1.6            “Premises:” Suite A in the Building containing approximately 2,654 square feet and as shown
on the Floor Plan attached hereto as Exhibit B-3, and incorporated herein by reference.

 

		1.7	“Tenant’s Proportionate Share (Building):” 67.00%. (See Section 5.6).

 

		1.8	“Tenant’s Proportionate Share (Project):” 22.74% . (See Section 5.6).

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

	Please
Initial: ____________    ____________

Tenant               Landlord 

     1 of 26

    

    

 

Tenant’s Proportionate Share (Building) and
Tenant’s Proportionate Share (Project) are sometimes collectively

 

referred to herein as “Tenant’s Proportionate
Share.”

 

1.9               
“Common Area:” All areas and facilities outside the Premises and within the Project that are, from time
to time, provided and designated by Landlord for the non-exclusive use of Landlord, Tenant and other tenants of the Project and
their respective employees, guests and invitees, and as generally shown on the Project Site Plan attached hereto as Exhibit
B-1.

 

		1.10	Number of Parking Spaces for Tenant Use: See Exhibit B-2 . (See Section
4.5).

 

		1.11	Permitted Use: (See Section 4).

Manufacturing, Warehousing,
Storage, Shipping and other such ancillary and supporting uses

  

	 	1.12	“Term” of Lease:	“Initial Term:”	62 months
	 	 	 	“Lease Commencement Date:”	October 15, 2020
	 	 	 	“Expiration Date” of Lease:	October 14, 2025
	 	 	 	“Rent Commencement Date:”	October 15, 2020

  

		1.13	Initial Base Rent: $ 38,217.60 per Year* (See Section 3.1).

$ 3,184.80 per Month

 

*Tenant to receive a Base Rent credit
of $6,369.60 in aggregate, to be applied to the first two months of the Lease or, if the first month of the Lease is less than
a full calendar month, on a prorated basis until applied in full.

 

		1.14	Adjustment of Base Rent:

 

	 	Effective Date of Rent Increase 	New Base Rent/Month
	 	October 15, 2021	$ 3,280.34
	 	October 15, 2022	$ 3,378.75
	 	October 15, 2023	$ 3,480.12
	 	October 15, 2024	$ 3,584.52
	 	October 15, 2025	$ 3,692.06

 

		1.15	Prepaid Rent: $3,184.80 (See Section 3.6).

 

		1.16	Security Deposit: $3,692.06 (See Section 3.7).

 

		1.17	Broker(s):

 

Landlord’s Agent: Mark
Hush (Newmark Knight Frank)(See Section 26).

 

Tenant’s Agent:Aaron
Watt.and Keegan Clay (Cushman & Wakefield)

 

		1.18	“Guarantors:” n/a

 

If
any Guarantor(s) is/are set forth above, concurrent with the execution of this Lease by Landlord and Tenant, Tenant shall arrange
for all Guarantor(s) to execute and deliver to Landlord a Guaranty of this Lease, in the form attached as Exhibit E.

 

		1.19	Exhibits:

 

The following Exhibits are attached hereto and incorporated
as a part of this Lease:

 

Exhibit “A” - Legal Description of the
Project

 

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Exhibit “B-1” – Project Site Plan

Exhibit “B-2” – Building Site Plan

Exhibit “B-3” – Floor Plan of the
Floor of the Building with the Premises shown as single hatched thereon 

Exhibit “C” - Work Letter (if applicable)

Exhibit “D” – Rules and Regulations
(if applicable)

Exhibit “E” – Guaranty (if applicable)

Exhibit “F” – Addendum (if applicable)

 

THIS BUSINESS PARK LEASE is made and entered
into between Landlord and Tenant on the Date of Lease set forth in Section 1.1. The defined terms used in this Lease (“Lease
Terms”) shall have the meanings and definitions given them in Section 1. The Lease Terms, the Exhibits, the Addendum
or Addenda described in the Lease Terms, and this Lease agreement are and shall be construed as a single instrument and are hereinafter
referred to as the “Lease.”

 

Now, therefore, for valuable consideration, Landlord
and Tenant covenant and agree as follows:

 

SECTION 2. LEASE OF
PREMISES.

 

2.1               
Lease. Subject to the terms and conditions of this Lease, Landlord hereby leases to Tenant and Tenant hereby leases
from Landlord the Premises for the Term herein set forth.

 

2.2               
Delivery of Possession; Commencement; Expiration. Landlord shall deliver the Premises to Tenant in good condition
and repair with all improvements substantially completed in accordance with Exhibit C, attached hereto and incorporated
herein by reference. The existence of any “punch list” type items shall not postpone the Lease Commencement Date. If
Landlord fails to deliver possession of the Premises to Tenant on the Lease Commencement Date, the Term shall not commence and
Tenant shall owe no Rent until the later of: (a) the date Landlord tenders possession of the Premises to Tenant or (b) the Rent
Commencement Date. If Landlord fails to deliver possession of the Premises to Tenant within ninety (90) days of the Lease Commencement
Date, then Tenant, as its sole remedy, may terminate this Lease by delivering written notice to Landlord within ten (10) days of
the expiration of said ninety (90)-day period. If there is any delay in delivering possession of the Premises to Tenant, the Term
of this Lease shall be extended by the number of days of such delay. If possession of the Premises is delivered prior to the Lease
Commencement Date, Tenant shall have the right to occupy the Premises subject to all of the terms and provisions of this Lease
other than the payment of Rent, which obligation shall not commence until the Rent Commencement Date. By acceptance of possession
of the Premises hereunder, but subject to the completion of all improvements to be performed by Landlord in accordance with Exhibit
C hereto, Tenant acknowledges that Tenant accepts the Premises “AS-IS, WHERE IS” and as suitable for Tenant’s
intended use, in good and sanitary operating order, condition and repair, and without representation or warranty by Landlord as
to the condition, use or occupancy which may be made thereof and that the area of the Premises is as set forth in Section 1.6
above. The Expiration Date of this Lease shall be the date stated in Section 1.12 above.

 

SECTION 3. RENT PAYMENT.

 

3.1               
Rent. Tenant shall pay to Landlord all Rent for the Premises without demand, deduction or offset. The term “Rent”
as used in this Lease shall include Base Rent and Additional Rent (as hereinafter defined). Rent is payable by Tenant in advance
on the first day of each month commencing on the Rent Commencement Date. Rent for any partial calendar month shall be prorated
based on a thirty (30)-day month for the number of days during that partial month the Premises are occupied by Tenant.

 

3.2               
Additional Rent. The term “Additional Rent” means amounts set forth under Section 5 and
any other sums payable by Tenant to Landlord under this Lease.

 

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		3.3	Lease Year. The term “Lease Year” shall mean each
calendar year of the Term. In the event the Lease Commencement Date or the Expiration Date occurs on any date other than the first
day of the calendar year, the calculations, costs and payments referred to herein shall be prorated for such calendar year. Late
Charge; Interest. Rent not paid when due shall bear interest until paid at the lesser of: (a) the rate of one and one-half
percent (1 1⁄2 %) per month; or (b) the maximum rate of interest then permitted by law. Landlord may, for each payment of
Rent made more than ten (10) days late, impose a late charge of the greater of (i) five percent (5%) of Rent then due or (ii) $50
for each late payment of Rent (the “Late Charge”). Tenant agrees that late payment by Tenant to Landlord of
any Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, that the exact amount of
such costs are extremely difficult and impracticable to ascertain, and that the Late
Charge is not a penalty but represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such
late payment. The imposition or collection or failure to impose or collect such a Late Charge shall not be deemed a waiver by Landlord
of any other remedies available for Tenant’s default of this Lease. Tenant shall pay Landlord an additional charge of $75
for any checks returned due to insufficient funds.

 

3.4               
Disputes. If Tenant disputes any charge for Additional Rent or any Rent adjustment, Tenant shall give written notice
to Landlord not later than thirty (30) days after receipt of the notice from Landlord describing the charge or adjustment in question.
If Tenant fails to give such notice to Landlord, the charge or adjustment by Landlord
shall be conclusive and binding on Tenant. If Tenant delivers timely notice, the challenged charge or adjustment shall be conclusively
resolved by an independent certified public accountant selected by the parties. Each party shall pay one-half (1/2) of the fee
charged by the accountant selected to decide the matter, except that if the adjustment in favor of Tenant does not exceed five
percent (5%) of the challenged amounts, Tenant shall pay:(a) the entire cost of the accountant’s fee; and (b) all reasonable
out-of-pocket costs and expenses incurred by Landlord in responding to the challenge. In the alternative, if the adjustment in
favor of Tenant is equal to or exceeds five percent (5%) of the challenged amounts, Landlord shall pay: (i) the entire cost of
the accountant’s fee; and (ii) all reasonable out-of-pocket costs and expenses incurred by Tenant in challenging such charge
or adjustment. Nothing herein shall be deemed to alter any other obligations of Tenant as required by this Lease.

 

3.5               
Prepaid Rent.Concurrently with the mutual execution of this Lease, Tenant shall pay the Initial Base Rent for
the first full month of the Term for which Rent is payable.

 

3.6               
Security Deposit. Concurrently with the mutual execution of this Lease, Tenant shall deliver to Landlord the Security
Deposit. Following written notice to Tenant, Landlord may apply the Security Deposit to pay the cost of performing any obligation
which Tenant fails to perform within the time required by this Lease, but such application by Landlord shall not waive Landlord’s
other remedies nor be the exclusive remedy for any Tenant default. If Landlord applies the Security Deposit as set forth herein,
Tenant shall pay Landlord, on demand, all sums necessary to restore the Security Deposit to its original amount. Tenant shall not
have the right to apply the Security Deposit or any part thereof to any Rent or other sums due under this Lease. If Tenant is not
in default of this Lease at the expiration or termination hereof, Landlord shall return the unapplied portion of the Security Deposit
to Tenant, except for any amount necessary to return the Premises to the condition set forth in Section 19. Landlord’s
obligations with respect to the Security Deposit are those of a debtor and not of a trustee, and Landlord may commingle the Security
Deposit with Landlord’s general funds. Landlord may immediately deposit the Security Deposit into Landlord’s account,
but such immediate deposit shall not bind Landlord to the terms of this Lease. Landlord shall not be obligated to pay interest
on the Security Deposit. If Landlord sells its interest in the Premises during the Term of this Lease, Landlord shall be discharged
from any further liability or responsibility with respect to the Security Deposit so long as Landlord deposits with or credits
to the buyer the unapplied portion of the Security Deposit.

 

SECTION 4. USE OF
PREMISES.

 

4.1               
Permitted Use. Tenant may use the Premises for Tenant’s Permitted Use and for no other purpose without Landlord’s
written consent, which will not be unreasonably withheld. Tenant shall not use the Premises in a manner that obstructs, annoys
or interferes with the rights of other occupants of the Building or Project. Tenant shall not cause any nuisance nor permit any
objectionable fumes, mold, electromagnetic waves, vibration, noise that is not reasonable for an industrial premises, light, or
radiation to be emitted from the Premises. Tenant shall not engage in any activities that will in any manner degrade or damage
the reputation of the Premises or increase Landlord’s insurance rates for any portion of the Premises.

 

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4.2               
Equipment. Tenant shall only install such equipment in the Premises as is customary for the Permitted Use and shall
not overload the floors or electrical circuits of the Premises or change the wiring or plumbing of the Premises. Tenant shall obtain
Landlord’s prior written consent to the location of and manner of installing any plumbing, wiring or electrical, heating,
heat-generating or communication equipment or unusually heavy articles. Any equipment, cables, wiring, conduit, additional dedicated
circuits and any additional air conditioning required because of any such equipment installed by Tenant shall be installed, maintained
and operated at Tenant’s sole expense and in accordance with Landlord’s reasonable requirements. Tenant shall not install
any equipment outside the Premises, including, without limitation, on the roof of the Building, without first having obtained the
prior written consent of Landlord.

 

4.3               
Compliance with Laws. Landlord warrants that, as of the Lease Commencement Date, the Premises complies with all applicable
laws, statutes, ordinances, rules and regulations of any public authority (the “Laws”). As of the Lease Commencement
Date, Tenant shall at its expense promptly comply and cause the Premises to comply with all Laws applicable to Tenant’s particular
use of the Premises (as opposed to those Laws generally applicable to commercial uses of real property for which the Project is
zoned).

 

4.4               
Rules and Regulations. Landlord may make, and Tenant shall comply, with all rules and regulations of the Building
and the Project (the “Rules”) as Landlord may revise and enforce the Rules from time to time in Landlord’s
sole discretion. The Rules are in addition to and shall not be construed to modify or amend this Lease in any way. The Rules as
of the date of this Lease are set forth in Exhibit D and are incorporated herein by reference.

 

4.5               
Parking. Landlord grants Tenant and Tenant’s customers, suppliers, employees and invitees, a non-exclusive
license to use the parking areas designated on the Project Site Plan, if any, for the parking of employee motor vehicles 
and company fleet delivery vehicles during the Term of this Lease. At no time shall Tenant and its agents and visitors use more
than the maximum number of parking spaces shown in Section 1.10 above. Landlord reserves the right at any time to grant
similar non-exclusive rights to other tenants to use the parking areas, to promulgate rules and regulations relating to the use
of such parking areas, including reasonable restrictions on parking by tenants and employees, to make changes in the parking layout
from time to time, and to establish reasonable time limits on parking.. 

 

SECTION 5. OPERATING
EXPENSES AND TAXES

 

5.1               
Operating Expenses. For purposes of this Lease, the term “Operating Expenses” shall mean all expenses
paid or incurred by Landlord (or on Landlord’s behalf) as reasonably determined by Landlord as necessary or appropriate for
the operation, maintenance, repair, and management of the Project and the Common Areas thereon, including without limitation: (a)
salaries, wages and benefits of employees of Landlord engaged in the repair, operation and maintenance of the Project and Common
Areas thereon; (b) payroll taxes, workers’ compensation insurance, uniforms and related expenses for such employees; (c)
the cost of all gas, utilities, sewer charges and other services furnished to the Project (as opposed to those furnished to any
individual tenant of the Project); (d) the cost of maintaining and repairing the Project and Common Areas, including, without limitation,
the parking areas and roof; (e) the cost of all comprehensive general liability and “special form” and “all risk”
casualty insurance carried by Landlord, insuring the Common Areas and the Project; (f) the cost for rental of all supplies and
tools necessary for the maintenance and repair of the Project and Common Areas; (g) the cost of capital improvements and remodelings
of the Project, the cost of which shall be amortized (with interest on the unamortized balance at a commercially reasonable rate,
as determined by Landlord) over the useful life of the improvements or remodelings and in accordance with generally accepted accounting
principles as reasonably estimated by Landlord;

 

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(h) alterations and improvements
to the Project and Common Areas (as opposed to those provided for the exclusive benefit of any individual tenant of the Project)
made by reason of laws and requirements of any public authority or the requirements of any insurance body, but excluding any such
alteration or improvement that is included in Landlord’s obligation to deliver the Premises, Building, Common Areas and Project
in compliance with law, as set forth in Section 4.3 above; (i) management fees paid to a third party, or if no managing
agent is employed by Landlord, Landlord shall be entitled to charge a reasonable management
fee which is not in excess of five percent (5%) of the total of Gross
Rent; (j) reasonable legal, accounting and other professional fees incurred in connection with the operation, maintenance and management
of the Project, Common Areas and Building; (k) the cost of landscape and parking area maintenance, repair; (l) janitorial and cleaning
supplies and services; and (m) all other charges properly allocable to the operation, repair, maintenance, management, and replacement
of the Project, Common Areas and Building in accordance with generally accepted accounting principles.

 

5.2               
Taxes. The term “Taxes” shall include: (a) all real and personal property taxes, charges, rates,
duties and assessments (including local improvement district assessments) levied or imposed by any governmental authority with
respect to the Project or any portion thereof, and any improvements, fixtures and equipment located therein or thereon, and with
respect to all other property of Landlord, real or personal, located in or on the Project or any portion thereof, and used in connection
with the operation of the Project or any portion thereof; (b) any tax in lieu of or in addition to, or substitution of a real property
tax; and (c) any tax or excise levied or assessed by any governmental authority on the Rent payable under this Lease or Rent accruing
from the use of the Project or any portion thereof, provided that this shall not include federal or state, corporate or personal
income taxes. If Landlord receives a refund of Taxes, then Landlord shall credit such refund, net of any professional fees and
costs incurred by Landlord to obtain the same, against the Taxes for the Lease Year to which the refund is applicable or the current
Lease Year, at Landlord’s option. Notwithstanding the foregoing, Tenant shall pay before delinquency all taxes, assessments,
licenses, fees and charges assessed, imposed or levied on: (i) Tenant’s business operations; (ii) all trade fixtures; (iii)
leasehold improvements; (iv) merchandise; and (v) other personal property in or about the Premises.

 

5.3               
Written Statement of Estimate. Prior to the Lease Commencement Date, Landlord shall furnish Tenant with a written
statement setting forth Landlord’s estimate of the cost of Operating Expenses and Taxes and Tenant’s Proportionate
Share thereof for the first Lease Year. Thereafter, prior to the commencement of each Lease Year after the first Lease Year or
as soon thereafter as reasonably possible (but in no event later than 90 days after the commencement of the Lease Year), Landlord
shall furnish Tenant with a written statement setting forth the estimated cost of Operating Expenses and Taxes and Tenant’s
Proportionate Share thereof for the next Lease Year. Tenant shall pay to Landlord as Additional Rent commencing on the Lease Commencement
Date, and thereafter on the first day of each calendar month, an amount equal to one-twelfth (1/12th)
of the amount of Tenant’s Proportionate Share of the estimated cost of Operating Expenses and Taxes, as
shown in Landlord’s written statement for that Lease Year. In the event Landlord fails to deliver said written estimate,
Tenant shall continue to pay to Landlord an amount equal to one-twelfth (1/12th) of Tenant’s
Proportionate Share of the estimated cost of Operating Expenses and Taxes for the immediately preceding Lease Year until Landlord
does furnish the written estimate. Upon receipt of such written estimate, Tenant shall pay an amount equal to the difference between
Tenant’s Proportionate Share of the estimated cost of Operating Expenses and Taxes for the expired portion of the current
Lease Year and Tenant’s actual payments during such time, and any payments by Tenant
in excess of Tenant’s Proportionate Share of the estimated cost of Operating Expenses, Taxes and Insurance shall be credited
to the next due payment of Rent from Tenant. Landlord reserves the right, from time to time, to adjust the estimated cost of Operating
Expenses and Taxes, and Tenant shall commence payment of one- twelfth (1/12th) of such revised
estimate on the first (1st) day of the month following receipt of the revised estimate.

 

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5.4               
Final Written Statement. Within one hundred twenty (120) days after the close of each Lease Year during the Term,
Landlord shall deliver to Tenant a written statement (the “Operating Statement”) setting forth Tenant’s
Proportionate Share of the actual cost of Operating Expenses and Taxes for the Project for the preceding Lease Year for each such
item. In the event Tenant’s Proportionate Share of the actual cost of Operating Expenses and Taxes for the preceding Lease
Year is greater than the amount paid by Tenant for such Operating Expenses and Taxes, Tenant shall pay the amount due to Landlord
as Additional Rent within thirty (30) days after receipt by Tenant of such statement. In the event Tenant’s Proportionate
Share of the actual cost of Operating Expenses and Taxes for the preceding Lease Year is less than the amount paid by Tenant for
such Operating Expenses and Taxes, then Landlord shall, at Landlord’s election, either: (a) pay the amount of Tenant’s
overpayment to Tenant within thirty (30) days following the date of such statement; or (b) apply such overpayment to Tenant’s
next Rent payment, reimbursing only the excess over such next Rent payment, if any. If a Lease Year ends after the expiration or
termination of this Lease, any Additional Rent in respect thereof that is payable under this Section shall be paid by Tenant within
ten (10) days of its receipt of the Operating Statement for such Lease Year, and any Additional Rent paid by Tenant in excess of
the amount due under this Lease for the portion of the Lease Year after expiration or termination of this Lease shall be refunded
by Landlord to Tenant within ten (10) days of the expiration of that Lease Year. The late delivery of any written statement by
Landlord shall not constitute a waiver of Tenant’s obligation to pay Tenant’s Proportionate Share of Operating Expenses
and Taxes, but Landlord shall use reasonable efforts to deliver such written statements as soon as reasonably possible after the
commencement of each Lease Year.

 

5.5               
Tenant Examination. The Operating Statement shall contain sufficient detail to enable Tenant to
verify the calculation of Operating Expenses and Taxes for the Premises. In addition, Tenant, upon at least five (5) days
advance written notice to Landlord and during business hours, may examine any records used to support the figures shown on the
Operating Statement, provided however, that Tenant shall only be entitled to make such an examination once in each Lease Year for
the immediately preceding calendar year, which request must be delivered within ninety (90) days after the date Landlord’s
annual Operating Statement is delivered to Tenant (and if Tenant fails to object in writing to specific Operating Expenses and
Taxes within such 90-day period, Tenant shall be deemed to have approved the same
and to have waived the right to object to such calculations). Such Tenant examination shall not be conducted by anyone who is engaged
on a contingent fee basis to represent Tenant. If a Tenant examination discloses that Tenant has overpaid Tenant’s share
of Operating Expenses, Landlord shall give Tenant credit against the next payment(s) of Operating Expenses due in such amount,
or if the Lease is at the end of the Term, refund such amount to Tenant. Tenant shall pay all costs and expenses of the examination
unless the examination discloses that Landlord has overcharged Operating Expenses by more than five percent (5%), in which case
Landlord shall pay the costs and expenses of the examination. Tenant hereby agrees to: (a) keep the results of any such audit confidential,
except that Tenant may disclose such information to its accountants, legal advisors or as otherwise required by law; and (b) require
Tenant’s auditor and its employees and each of their respective attorneys and advisors likewise to keep the results of such
audit confidential.

 

5.6                 Tenant’s
Proportionate Share. The area of the Premises provided for in Section 1.6, above, is deemed accurate, and Tenant
shall not be authorized to cause any re-measurement of such area. With respect to Operating Expenses and Taxes that Landlord
allocates to the Building, Tenant’s Proportionate Share (Building) shall be the percentage set forth in Section
1.7, as adjusted by Landlord from time to time resulting from a re- measurement
of or changes in the physical size of the Building, whether such changes in size are due to an addition to or a sale or
conveyance of a portion of the Building or otherwise. With respect to Operating Expenses and Taxes which Landlord allocates
to the Project or any portion thereof, Tenant’s Proportionate Share (Project) shall be with respect to Operating
Expenses and Taxes that Landlord allocates to the Project or any portion thereof, the percentage set forth in Section
1.8 and as adjusted by Landlord from time to time resulting from a re-measurement of or changes in the physical size of
the Project, whether such changes in size are due to an addition to or a sale or conveyance of a portion of the Project or
otherwise.Notwithstanding the foregoing, Landlord may equitably adjust Tenant’s Proportionate Share for all or part
of any item of expense or cost reimbursable by Tenant that relates to an operation, maintenance, repair, management or
service that benefits only the Premises or only a portion of the Building and/or the Project or that varies with the
occupancy with the Building and/or the Project.

 

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SECTION 6. MAINTENANCE
AND REPAIR.

 

6.1               
Landlord Repairs. Landlord shall repair, maintain and/or replace, where necessary, the Common Areas and the structural
components of the Building including, without limitation, the foundations, exterior walls, roof structure and membrane, as well
as the downspouts and gutters, and all systems serving the Premises and the Building such as mechanical, electrical, storm sewer,
plumbing, sanitary sewer and the HVAC system serving the Building (excluding therefrom the exterior and interior windows, doors,
plate glass and storefronts and, except for reasonable wear and tear, any damage thereto caused by any negligent or intentional
act or omission of Tenant or its employees, agents, invitees, licensees, contractors or subtenants, damage or destruction caused
by any casualty not required to be repaired under Section 11 and any condemnation or taking of the Building, the Project
or any portion of or interest therein governed by Section 12) and costs and expenses related thereto shall be deemed an
Operating Expense . Except in the event of an emergency, Tenant expressly waives the
benefits of any statute now or later in effect that would otherwise give Tenant the right to make repairs at Landlord’s expense
and deduct that cost from Rent owing to Landlord.

 

		6.2	Tenant’s Repairs. Except as set forth in Section 6.1 above, Tenant shall:

 

(a)                  Maintain all portions of the Premises and fixtures situated within the Premises in good order and repair;

 

(b)                  Maintain, repair and
replace, if necessary, all special equipment, and decorative treatments installed by or at Tenant’s request and that serve the Premises;

 

(c)                
Make all necessary repairs and replacements to all portions of the Premises and pay Landlord upon demand for the repairs
or replacements to the Premises, Building and/or the Project to the extent that such repairs or replacements are required as a
result of the negligent or intentional acts or omissions or any breach of this Lease by Tenant, its employees, contractors, agents,
or invitees; and

 

		(d)	Not commit waste to the Premises, Building, Common Area or Project or any part thereof.

 

6.3               
Liability. Landlord shall not be liable for any failure to maintain and repair the Premises as required under Section
6.1 unless Tenant delivers written notice of such failure to Landlord and Landlord fails to
perform such maintenance or repair in a commercially reasonable time and manner. Landlord may erect scaffolding and other
apparatus necessary to make repairs or alterations to the Premises. So long as Landlord uses commercially reasonable efforts to
minimize interference with Tenant’s business, Tenant shall have no claim against Landlord for any interruption or reduction
of services or interference with Tenant’s occupancy because of repairs or maintenance performed by Landlord to the Premises.

 

SECTION 7. ALTERATIONS.

 

Without
first having obtained Landlord’s prior written consent, which will not be unreasonably withheld, Tenant shall not make any
alterations, additions, or improvements to the Premises: (a) for which any governmental permit is required; or (b) that modify
any structural, mechanical, electrical, roofing, or plumbing component of the Building; or (c) that cost more than $10,000.
If Landlord consents in writing to any proposed alteration of the Premises, Tenant
shall: (i) only contract with a Landlord-approved contractor for the performance of such alterations, which approval will not be
unreasonably withheld; (ii) comply with all applicable Laws and obtain all necessary governmental permits and approvals and deliver
copies thereof to Landlord; and (iii) cause all alterations to be completed promptly in compliance with Landlord-approved plans
and specifications with all due diligence in a good and workmanlike manner. Except for removable machinery and unattached movable
trade fixtures, all improvements, alterations, wiring, cables or conduit installed by Tenant shall immediately become part of the
Premises, with title vested in Landlord. If stated in writing at the time Landlord approves the installation, Landlord may require
that Tenant remove any such improvements, alterations, wiring, cables or conduit installed by or for Tenant and restore the Premises
to good condition and repair upon expiration or earlier termination of this Lease. Landlord may post notices of nonresponsibility
in connection with any work being performed in the Premises by or at the request of Tenant. Tenant shall not permit any liens to
attach to the Building or Tenant’s interest in the Premises as a result of any work performed by or at Tenant’s request.

 

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SECTION 8. UTILITIES
AND SERVICES.

 

8.1               
General. Tenant shall comply with all Laws concerning the use or reduction of use of utilities in the Premises. Tenant
shall pay all charges for electricity, water, gas, telephone and other utility services furnished to the Premises during the Term
and for all inspections, governmental fees and other like charges associated therewith. Landlord makes no representation or warranty
whatsoever as to the types, quantities, availability or costs of any and all utility services for the Building. 

 

8.2               
Interruption of Service. Unless caused by the active negligence or willful misconduct of Landlord, interruption of
any service or utility shall not render Landlord liable to Tenant for damages, relieve Tenant from performance of Tenant’s
obligations under this Lease or be deemed an eviction or disturbance of Tenant’s use and possession of the Premises. Notwithstanding
the foregoing, Landlord shall use commercially reasonable efforts to cure any interruption of service or utility and if Landlord
fails to exercise such commercially reasonable efforts Tenant shall have those rights specified in Section 14.4 of this
Lease. Tenant shall install surge protection systems for power provided to the Premises, and Tenant releases Landlord from all
liability for any damage caused by any electrical surge.

 

SECTION 9. SIGNS AND
OTHER INSTALLATIONS.

 

Without
Landlord’s written consent and Landlord’s approval as to design, size, location, and color (which approval will not
be unreasonably withheld), no signs, awnings, banners, placards, or other like items shall be painted on or attached to the Premises
or the Building, or placed on any glass or woodwork of the Premises or positioned so as to be visible from outside the Premises,
including any window covering (e.g., shades, blinds, curtains, drapes, screens, or tinting materials). All signs installed by Tenant
shall comply with Landlord’s reasonable standards for signs and all applicable codes and all such installation shall be at
Tenant’s sole cost. All signs and sign hardware shall be removed by Tenant, at Tenant’s sole cost and expense, upon
termination of this Lease with the sign location restored to its former state unless Landlord elects to
retain all or any portion thereof. Tenant may not install any alarm boxes, foil protection tape or other security equipment
on the Premises without Landlord’s prior written consent, which consent shall not be unreasonably withheld. Any material
violating this provision may be removed and disposed of by Landlord without compensation to Tenant, and, upon demand, Tenant shall
reimburse Landlord for the cost of such removal. Notwithstanding the foregoing, Landlord, at Landlord’s cost, shall provide
Tenant with Building-standard signage located adjacent to the entry doorway of the Premises and on the Building directory.

 

SECTION 10. INSURANCE
AND INDEMNITY.

 

	10.1        Tenant’s Insurance. Tenant shall, at Tenant’s expense, obtain and keep in force during the Term and any extensions or renewals:

 

(a)                
Commercial general liability insurance providing coverage written on an occurrence basis and applying to the use and occupancy
of the Premises with limits of not less than Two Million Dollars ($ 2,000,000) per occurrence and Two Million
Dollars ($2,000,000) in the aggregate. Unless otherwise approved by Landlord in writing: (i) such liability insurance shall be
written on a form that is no less broad than ISO form CG 00 01; (ii) Landlord, any lender of Landlord, and Landlord’s managing
agent, if any, shall be named as additional insureds with coverage no less broad than
that provided under ISO form CG 20 11 designating both the Premises and the Common Area as the covered premises. Additionally,
such policy shall insure the liability of Tenant under Section 10.3 of this Lease.

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

	Please
Initial: ____________    ____________

Tenant               Landlord 

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(b)                
A “causes of loss-special form” or “all risk” property insurance policy with a sprinkler damage
endorsement covering Tenant’s personal property, inventory, alterations, fixtures, equipment, plate glass and leasehold improvements
located on or in the Premises, in an amount not less than one hundred percent (100%) of their actual replacement value, providing
coverage for risk of direct physical loss or damage including sprinkler leakage, vandalism and malicious mischief. Coverage under
such policy shall be no less broad than that provided under ISO form CP 10 30. Landlord shall have no claim to such proceeds.

 

(c)                
Workers’ compensation insurance and other forms of insurance as may from time to time be required by law or may otherwise
be necessary to protect Landlord and the Premises from claims of any person who may at any time work on the Premises, whether as
a servant, agent, or employee of Tenant or otherwise. Further, Tenant shall use commercially reasonable efforts to cause Tenant’s
agents, contractors, or subcontractors to keep and maintain the insurance contemplated in this Section 10.1(c).

 

All insurance and endorsements
contemplated under this Section 10.1 shall: (i) be issued by insurance companies licensed and admitted to issue policies
in the State of Oregon; (ii) unless otherwise approved by Landlord in writing, be issued by insurance companies having a financial
rating of “B+” or better under the A.M. Best financial rating scheme; (iii) contain a provision that the insurance
be primary and non-contributing with any other insurance available to Landlord; and (iv) not include any self-insured retention.
Within five (5) days of the Lease Commencement Date, Tenant shall deliver to Landlord a certificate evidencing such insurance
that shall require no less than thirty (30) days prior written notice to Landlord prior to any cancellation or material change.
No later than thirty (30) days prior to expiration of any policy, Tenant shall deliver a renewal certificate to Landlord for such
insurance policy. If Tenant fails to obtain and maintain insurance as required under this Section 10.1, Landlord may, but
shall not be obligated to, obtain such insurance for Landlord’s own benefit and not for or on behalf of Tenant, and in such
event, Tenant shall pay, as Additional Rent, upon demand, the premium for such insurance.

 

10.2            
 Landlord’s Insurance. During the Term, Landlord shall maintain in full force and effect a policy or policies
of insurance covering the Building, which shall provide coverage against such risks as are commonly covered under a “causes
of loss-special form” or “all risk” property insurance policy (including, in Landlord’s sole discretion,
earthquake and/or flood coverage), together with loss of rents and secondary liability insurance and other insurance as Landlord
deems reasonably necessary. Such insurance shall contain such policy limits and deductibles, shall be obtained through such insurance
company or companies, and shall be in such form as Landlord deems appropriate, and shall provide coverage for one hundred percent
(100%) of the replacement value of the Building. All insurance proceeds payable under Landlord’s casualty insurance carried
hereunder shall be payable solely to Landlord, and Tenant shall have no interest therein.
Within thirty (30) days of receipt of a billing therefor, Tenant shall pay to Landlord, as Additional Rent, an amount equal to
Tenant’s Proportionate Share (Building) of all amounts paid by Landlord as set forth in this Section 10.2.

 

10.3. Tenant’s
Indemnity. Tenant shall indemnify, defend, and hold harmless Landlord and its managing agents and employees from any
claim, liability, damage, or loss, or any cost or expense in connection therewith (including reasonable attorney fees),
arising out of: (a) any damage to any person or property occurring in, on or about the Premises, the Building, the Common
Areas, and the Project as the result of the negligence or willful misconduct of Tenant, its employees, contractors, agents or
invitees; and/or (b) Tenant’s material breach or violation of any term of this Lease. The provisions of this Section
10.3 shall survive the termination or expiration of this Lease.

 

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Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

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Initial: ____________    ____________

Tenant               Landlord 

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10.4
Landlord’s Indemnity. Landlord shall indemnify, defend, and hold harmless Tenant from any claim, liability, damage,
or loss, or any cost or expense in connection therewith (including reasonable attorney fees), arising out of: (a) any damage to
any person or property occurring in, on or about the Premises, the Building, the Common Areas and the Project as the result of
the negligence or willful misconduct of Landlord, its employees, contractors, agents or invitees; and/or (b) Landlord’s material
breach or violation of any term of this Lease. The provisions of this Section 10.4 shall survive the termination or expiration
of this Lease.

 

SECTION 11. FIRE OR CASUALTY.

 

		11.1	Major Damage.

 

(a)                
Landlord may elect to terminate this Lease by notice in writing to Tenant within thirty (30) days after damage to the Building
by fire or other casualty: (i) which causes any substantial portion of the Building to be unusable; (ii) the repair of which will
cost more than twenty-five percent (25%) of the replacement value of the Building; or (iii) which is not required under this Lease
to be covered by insurance.

 

(b)                
Tenant may elect to terminate this Lease by notice in writing to Landlord within thirty (30) days after damage to the Premises
by fire or other casualty, which causes any substantial portion of the Premises to be
unusable.

 

(c)                
If neither Landlord nor Tenant terminates this Lease after any fire or other casualty referenced in Sections 11.1(a)
or (b), or if damage occurs to the Building which is not referenced in Sections 11.1(a) or (b), Landlord shall
promptly restore the Building to the condition existing immediately prior to such damage, and this Lease shall continue in full
force and effect. In the event of any damage to the Building by fire or other casualty, Tenant shall promptly repair and restore
all tenant improvements or alterations installed or paid for by Tenant or pay the cost of such restoration to Landlord if Landlord
performs such restoration. In the event the Building is damaged by any casualty, Rent shall be reduced in proportion to the unusable
portion of the Building from the date of damage until the date restoration work to the Building is substantially complete. Disputes
between Tenant and Landlord under this Section 11.1 shall be resolved by arbitration as provided in Section 21 below.

 

11.2            
Waiver of Subrogation. Landlord and Tenant each hereby releases and waives any and all rights to recover from or
proceed against the other party and its employees, agents and contractors, for loss or damage to any property of the releasing
party or any person claiming through the releasing party arising from any cause required to be insured against by the releasing
party under this Lease. Landlord and Tenant shall each cause their insurance policies to contain a waiver of subrogation provision
consistent with the foregoing.

 

SECTION 12. EMINENT
DOMAIN.

 

If
any portion of the Building or a substantial portion of the Premises shall be permanently taken under any right of eminent
domain, or any transfer in lieu thereof (the “Taking”) and such Taking renders the Premises in the
reasonable opinion of Tenant or Landlord unsuitable for Tenant’s use, then either party may terminate this Lease by
giving thirty (30) days prior written notice to the other party, and such termination shall be effective on the date
possession of the Building, Premises or portion of either is delivered to the condemning authority. Disputes between Tenant
and Landlord under this Section 12 shall be resolved by arbitration as provided in Section 21 below. If this
Lease is not so terminated, Landlord shall repair and restore the Premises as close as practicable to its condition prior to
the Taking, and this Lease shall continue, but, commencing with the date on which Tenant is deprived of the use of any
portion of the Premises or of any rights under this Lease, Base Rent shall be proportionately abated or reduced, based on the
extent to which Tenant’s use of the Premises is impaired. Any and all awards payable by the condemning authority in
connection with a Taking shall be the sole property of Landlord; provided, however, that nothing contained herein shall
prevent Tenant from prosecuting a separate claim against the condemning authority for Tenant’s damages arising out of
the Taking, so long as that award does not diminish the award that Landlord would otherwise be entitled to as a result of the
Taking.

 

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Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

	Please
Initial: ____________    ____________

Tenant               Landlord 

     11 of 26

    

    

 

SECTION 13. ASSIGNMENT
AND SUBLETTING.

 

Tenant
shall not assign or encumber its interest under this Lease or sublet all or any portion of the Premises without having first provided
thirty (30) days written notice to Landlord and thereafter obtained Landlord’s written consent. Tenant shall deliver written
notice of Tenant’s desire to assign or sublet all or any portion of the Premises and such notice shall include a recent signed
and certified financial statement (audited, if available) and a statement of the intended use for such proposed assignee or subtenant.
So long as any proposed subtenant or assignee is compatible with Landlord’s reasonable credit and use standards for the Premises,
Landlord’s consent shall not be unreasonably withheld. Notwithstanding the foregoing, Landlord’s consent shall not
be required if such assignment or subletting is in connection with an entity that is an affiliate or subsidiary of Tenant or with
a merger or change in control of Tenant. No assignment shall relieve Tenant of its obligation to pay rent or perform other obligations
required by this Lease during the Initial Term (and any renewal periods), and no consent to one assignment or subletting shall
be a consent to any further assignment or subletting. Tenant shall reimburse Landlord for any costs incurred in connection with
a proposed assignment or subletting, including reasonable attorney fees in an amount not to exceed $1,500. If Landlord consents
to a proposed assignment, and any consideration is paid to the assigning Tenant, the assigning Tenant shall promptly pay to Landlord
one-half (1/2) of any net consideration resulting from such transaction received by Tenant. If Landlord consents to a proposed
sublease, and the rent under such sublease arrangement (the “Sub-Rent”) is greater than the Rent under this
Lease, Tenant shall promptly pay to Landlord one-half of the difference between the Sub-Rent and the Rent.

 

SECTION 14. DEFAULT.

 

		14.1	Events of Default. Each of the following shall be an “Event of Default” by Tenant under this Lease:

  

14.1.1       
Failure by Tenant to pay Rent or any other charge due under this Lease within ten (10) days after receipt of written notice
from Landlord that the same is then due, provided, however, that Landlord shall not be required to provide such written notice
more than two (2) times in any twelve (12) month period.

 

14.1.2       
Other than as set forth in Section 14.1.1 and Sections 14.1.3 through 14.1.6 below, failure by Tenant
to comply with any other obligation of this Lease, including, without limitation, Section 6.2, within ten (10) days following
written notice from Landlord specifying the failure (except in the case of emergency, in which event Landlord shall only be required
to give such notice as is reasonable under the circumstances); provided, however, that if the nature of Tenant’s default
requires more than ten (10) days to correct, Tenant shall not be deemed in default of this Lease so long as Tenant commences the
cure of such failure within such ten (10)-day period and thereafter, proceeds in good faith and with all diligence to complete
such cure as soon as possible but in no event later than ninety (90) days after the date of Landlord’s notice of default.
Subject to this Section 14.1.2, if Tenant fails to perform Tenant’s obligations under Section 6.2, Landlord
may enter upon the Premises, perform the obligations on Tenant’s behalf, and recover the cost of performance, together with
interest at the rate of twelve percent (12%) per year, as Additional Rent payable by Tenant with the next installment of
Rent, provided, that such rate shall not exceed the maximum rate then allowed by law.

 

		14.1.3	Tenant fails to occupy the Premises within twenty (20) days after notice from Landlord.

 

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Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

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Initial: ____________    ____________

Tenant               Landlord 

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		14.1.4	Assignment or subletting by Tenant in violation of Section 13.

 

14.1.5      Tenant’s failure to execute and deliver to Landlord the documents described inSections
18 or 23 within ten (10) days of written notice from Landlord.

 

14.1.6      Tenant’s insolvency, business failure or assignment for the benefit of its creditors. Tenant’s commencement
of proceedings under any provision of any bankruptcy or insolvency law or failure to obtain dismissal of any petition filed against
it under such laws within the time required to answer; or the appointment of a receiver for all or any portion of Tenant’s
properties or financial records.

 

14.2            
Remedies for Default. Upon the occurrence of an Event of Default described in Section 14.1, Landlord may exercise
the following remedies as well as any other remedies at law or in equity, by statute or as set forth in this Lease:

 

14.2.1       
Landlord may terminate this Lease, reserving all rights to damages resulting from Tenant’s breach. Whether or not
Landlord terminates this Lease, Landlord may retake possession of the Premises and any relet or use of the Premises by Landlord
shall not be deemed a surrender or waiver of Landlord’s right to damages. If Landlord retakes possession of the Premises,
Landlord’s mitigation efforts shall be deemed sufficient if Landlord follows commercially reasonable procedures and otherwise
complies with Law.

 

14.2.2       
Tenant shall be liable to Landlord for all damages caused by Tenant’s default, including, but not limited to, an amount
equal to all unpaid and future Rent, lease commissions incurred for this Lease, and the unamortized cost of all improvements to
the Premises installed or paid for by Landlord. Landlord may periodically sue Tenant to recover damages as they accrue, and no
action therefor shall bar a later action for damages accruing thereafter. Landlord may elect in any one action to recover both
accrued damages as well as damages attributable to the remaining Term of the Lease. Any damages attributable to the remaining Term
of the Lease shall be equal to the difference between the Rent under this Lease and fair market rental value of the Premises (including
Additional Rent) for the remainder of the Term, discounted at the prevailing interest rate on judgments to the date of the judgment.

 

14.3            
 Landlord’s Right To Cure Default. Landlord may, but shall not be obligated to, make any payment or perform
any obligation under this Lease that Tenant has failed to perform, as and when required hereunder, following advance written notice
to Tenant. Tenant shall pay Landlord for all expenditures and costs incurred by Landlord in performing any obligation of Tenant,
upon demand, with interest thereon at the rate of one and one half percent per month (1 1⁄2%), but in no event
at a rate in excess of that allowed by Law. Landlord’s right to cure any Tenant default is for the sole protection of Landlord
and in no event shall Tenant be released from any obligation to perform Tenant’s obligations and covenants under this Lease.
The contents of this Section shall not be deemed a waiver by Landlord of any other right that Landlord may have arising from any
default of this Lease by Tenant, whether or not Landlord exercises its rights under this Section.

 

14.4            
 Landlord’s Default. Landlord shall not be deemed to be in default of the performance of any obligation required
to be performed by Landlord hereunder unless and until Landlord fails to perform such obligation within twenty (20) days after
written notice by Tenant to Landlord specifying the nature of Landlord’s alleged default; provided, however, that if the
nature of Landlord’s alleged default is such that more than twenty (20) days are required for its cure, then Landlord shall
not be deemed to be in default if Landlord shall commence such performance within such twenty (20)-day period and thereafter proceeds
in good faith and with diligence to complete such cure as soon as possible, but in no event later than ninety (90) days after the
date of Tenant’s notice of default. If Landlord fails to timely cure any default under this Lease, Tenant shall have such
rights and remedies provided at law and in equity.

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

	Please
Initial: ____________    ____________

Tenant               Landlord 

     13 of 26

    

    

 

SECTION 15. NOTICES.

 

Unless
otherwise specified, any notice required or permitted in, or related to this Lease must be in writing and signed by the party giving
the notice. Any notice will be deemed delivered: (a) when personally delivered; (b) when delivered by electronic mail transmission
(in either case, with confirmation of delivery); (c) on the day following delivery of
the notice by reputable overnight courier; or (d) on the day following delivery of the notice by
mailing by certified or registered U.S. mail, postage prepaid, return receipt requested; and in any case shall be sent to
the applicable party at its address as set forth in Section 1.2 for Tenant and Section 1.3 for Landlord. Addresses
for notices may be changed from time to time by written notice to all other parties pursuant to this Section 15.

 

SECTION 16. LANDLORD ACCESS.

 

After
reasonable notice to Tenant, Landlord may enter upon the Premises with its passkey or other reasonable means to assess compliance
with this Lease, perform required or necessary maintenance, repairs, alterations or services to the Building or the Premises, show
the Premises to potential buyers of the Building and post appropriate notices and signs, and during the last three (3) months of
the Term, show the Premises to any potential tenant. Except in case of emergency, all entry to the Premises shall be at times and
in a manner so as to minimize interference with Tenant’s use of the Premises.

 

SECTION 17. CONVEYANCE BY
LANDLORD

 

If
the Premises is sold or otherwise conveyed by Landlord or any successor, so long as Tenant is not in default beyond any applicable
cure period, Landlord shall cause such successor to recognize Tenant’s rights hereunder, and Tenant shall attorn to the buyer
or transferee and recognize that party as the landlord under this Lease. If the buyer or transferee assumes all obligations of
Landlord under this Lease accruing thereafter, Landlord shall be deemed released of all further liability to Tenant under this
Lease.

 

SECTION 18. SUBORDINATION,
ATTORNMENT ANDNON-DISTURBANCE.

 

Without
the need for further documentation, this Lease shall be subject and subordinate to any existing deeds of trust, mortgages, ground
lease, master lease or land sale contracts and any amendment or modification thereof, now existing or hereafter recorded against
the Premises (collectively, the “Encumbrances”). Tenant shall execute all documents reasonably requested by
Landlord or the holder of an Encumbrance to confirm such subordination; provided, however, that this Lease shall only be subordinate
to any future Encumbrance, or modification thereof, if the holder of that Encumbrance executes a non-disturbance agreement reasonably
satisfactory to Tenant by which the holder of such Encumbrance recognizes Tenant’s rights under this Lease unless Tenant
is in default beyond any applicable cure period. If any Encumbrance is foreclosed, Tenant shall attorn to such buyer, and this
Lease shall continue in full force and effect.

 

SECTION 19. SURRENDER;
HOLDOVER.

 

19.1            
Surrender. Upon expiration or earlier termination of this Lease, Tenant shall surrender the Premises and the Building
swept and free of debris, with carpeted areas vacuumed and in good and serviceable condition, subject to ordinary wear and tear.
Tenant shall remove all of its personal property and, if requested by Landlord in accordance with Section 7 above, any conduits,
wiring, cables or alterations installed by Tenant, and in any case, shall repair all damage to
the Premises and the Building resulting from that removal. If Tenant fails to remove any such personal property or alterations,
those items shall be deemed abandoned, and Landlord may remove or dispose of such items without liability to Tenant or others,
and Tenant shall reimburse Landlord for the cost of such removal upon demand.

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

	Please
Initial: ____________    ____________

Tenant               Landlord 

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19.2            
Holdover. If Tenant fails to surrender the Premises and remove all its personal property as set forth herein, Landlord
may either: (a) recognize Tenant as a tenant at sufferance which shall be terminable upon fifteen (15) days’ notice; (b)
recognize Tenant as a month-to-month tenant; or (c) evict Tenant from the Premises and recover all damages resulting from Tenant’s
wrongful holdover. For purposes of the preceding subjections (a) and (b), such tenancy shall be subject to all terms of this Lease,
except that Rent shall be one hundred fifty percent (150%) of the total Rent for the last month being charged and all options or
other rights regarding extension of the Term or expansion of the Premises shall automatically terminate.

 

SECTION 20. HAZARDOUS
MATERIALS.

 

20.1            
Generally. Neither Tenant nor Tenant’s agents or employees shall cause or permit any Hazardous Material, as
hereinafter defined, to be brought upon, stored, used, generated, released into the environment, or disposed of on, in, under,
or about the Premises or Building, except reasonable quantities of cleaning supplies and office supplies necessary to or required
as part of Tenant’s business that are generated, used, kept, stored, or disposed of in a manner that complies with all laws
regulating any such Hazardous Materials and with good business practices. Tenant covenants to remove from the Premises and the
Building, upon the expiration or sooner termination of this Lease and at Tenant’s sole cost and expense, any and all Hazardous
Materials brought upon, stored, used, generated, or released into the environment by Tenant, its agents, employees or invitees
during the Term of this Lease. To the fullest extent permitted by law, Tenant hereby agrees to indemnify, defend, protect, and
hold harmless Landlord, Landlord’s managing agent and their respective agents and employees, and their respective successors
and assigns, from any and all claims, judgments, damages, penalties, fines, costs, liabilities, and losses that arise during or
after the Term directly or indirectly from the use, storage, disposal, or release of Hazardous Materials by Tenant, its agents,
employees or invitees on, in, or about the Premises or the Building which occurs during the Term of this Lease. To the fullest
extent permitted by law, Landlord hereby agrees to indemnify, defend, protect and hold harmless Tenant, and its agents and employees
and its respective successors and assigns, from any and all claims, judgments, damages, penalties, fines, costs, liabilities and
losses that arise during or after the Term directly or indirectly from the use, storage, disposal, or release of Hazardous Materials
by Landlord, its agents, employees, contractors or predecessors on, in or about the Premises or the Building. Tenant shall promptly
notify Landlord of any release of Hazardous Materials in, on, or about the Premises or the Building that Tenant, or Tenant’s
agents or employees, becomes aware of during the Term of this Lease, whether caused by Tenant, Tenant’s agents or employees,
or any other persons or entities.

 

20.2            
Definition. As used herein, the term “Hazardous Material” means any hazardous or toxic substance,
material, or waste which is or becomes regulated by any local governmental authority, the state of Oregon or the United States
government. The term “Hazardous Material” includes, without limitation, any material or substance that is: (a) defined
as a “hazardous waste,” “extremely hazardous waste,” “restricted hazardous waste,” “hazardous
substance,” “hazardous material,” or “waste” under any federal, state or local law; (b) petroleum;
and (c) asbestos. The provisions of this Section 20, including, without limitation, the indemnification provisions set forth
herein, shall survive any termination of this Lease.

 

SECTION 21. DISPUTE
RESOLUTION

 

No
provision of, nor the exercise of any rights under, this Section 21 shall limit the right of Landlord to evict Tenant for
default under this Lease, exercise self-help remedies or obtain provisional or ancillary remedies such as
an injunction, receivership, attachment or garnishment. Subject to the preceding sentence, all claims, disputes and other
matters in question between the parties to this Lease arising out of or relating to this Lease or the breach thereof, shall be
decided by mandatory and binding arbitration in accordance with the rules of the Arbitration Service of Portland, Inc. (“ASP”)
currently in effect unless the parties mutually agree otherwise. The following procedures shall apply:

 

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Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

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Initial: ____________    ____________

Tenant               Landlord 

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21.1            
Demand for arbitration shall be filed in writing with the other party to this Lease and with the ASP. In no event shall
the demand for arbitration be made after the date when institution of legal or equitable proceedings based on such claim, dispute
or other matter in question would be barred by the applicable statute of limitations.

 

21.2            
The award rendered by the arbitrator or arbitrators shall be final, and judgment may be entered upon it in accordance with
applicable law in any court having jurisdiction thereof.

 

21.3            
All filing fees and ASP costs associated with the arbitration itself shall be paid for by the party who files the notice
of arbitration; provided, however, that all such expenses shall be recovered by the filing party in the event said party prevails.
Any issues regarding who is the prevailing party shall be determined by the arbitration panel. The prevailing party also shall
recover from the non-prevailing party all attorneys’ fees and costs, including fees and costs for legal assistants and expert
witnesses, and including all fees and costs incurred relative to any challenge or appeal of the arbitration award, or confirmation
by a court of law.

 

SECTION 22. ATTORNEY
FEES; WAIVER OF JURY TRIAL.

 

If
suit or action is instituted in connection with any controversy arising out of this Lease, including any bankruptcy proceeding,
the prevailing party shall be entitled to recover, in addition to costs, such sums as the court may adjudge reasonable as attorney
fees in preparation for trial, at trial and on all appeals or petition for review arising out of such suit or action. If Landlord
engages a collection agency to pursue any delinquent amounts owed by Tenant, Tenant shall pay all collection agency fees charged
to Landlord, in addition to all other amounts payable under this Lease. Disputes between the parties which are to be litigated
shall be tried before a judge without a jury and by initialing below, Landlord and Tenant hereby expressly waive any right to require
that any dispute under this Lease be heard before a jury.

 

	 	___________________	__________________
	 	Tenant Initials	Landlord Initials

 

SECTION 23. ESTOPPEL.

 

At
any time and from time to time upon not less than ten (10) days prior notice from either party, the other party will execute, acknowledge
and deliver to the requesting party a certificate certifying whether or not this Lease is in full force and effect and unmodified,
if there are any modifications, that the Lease is in full force and effect as modified; that Tenant is in possession of the Premises;
the dates to which Rent has been paid in advance and the amount of any Security Deposit or prepaid Rent; and such other matters
as may be reasonably requested. If either party fails to deliver a requested certificate within the specified time, such failure
shall conclusively establish that the party from whom the certificate was requested confirms that the Lease is in full force and
effect, without modification except as may be represented by the requesting party. The parties agree that any such certificate
may be relied upon by any existing or prospective holder of an Encumbrance or any prospective transferee of this Lease or the Premises.

 

SECTION 24. QUIET
ENJOYMENT.

 

Landlord
warrants that so long as Tenant complies with all terms of this Lease, that Tenant shall have quiet and peaceful possession of
the Premises free of disturbance by Landlord or others claiming by or through Landlord.

 

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Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

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SECTION 25. FORCE MAJEURE.

 

If
the performance by either party of any provision of this Lease is prevented or delayed by any strikes, lockouts, labor disputes,
acts of God, government actions, civil commotions, fire or other casualty, or other causes beyond the reasonable control of the
party from whom performance is required, such party shall be excused from such performance for the period of time equal to the
time of that prevention or delay. Notwithstanding the foregoing, neither party shall be relieved of their respective payment obligations
under this Lease for such prevention or delay of less than sixty (60) days.

 

SECTION 26. BROKERS.

 

Each
party represents that except for the broker(s) identified in the Lease Terms, neither party has had any dealings with any real
estate broker, finder or other person with respect to this Lease. Landlord shall pay a leasing commission to the party(s) identified
in Section 1.17 in accordance with a separate agreement by and between Landlord and the Landlord’s Agent. Landlord
and Tenant each agree to indemnify and hold the other party harmless from and against any and all costs, expenses or liability
for commissions or other compensation or charges claimed by or awarded to any broker or agent resulting from a breach of the representation
set forth above in this Section 26.

 

SECTION 27. GOVERNING
LAW.

 

This
Lease shall be construed and interpreted and the rights of the parties determined in accordance with the laws of the state of Oregon
(without reference to the choice-of-law provisions of Oregon law); provided further, that respect to matters of law concerning
the internal corporate affairs of any corporate entity which is a party to or the subject of this Lease, and as to those matters,
the law of jurisdiction under which such entity derives its powers shall govern.

 

SECTION 28. NONWAIVER.

 

No
delay by either party in promptly enforcing any right or remedy set forth in this Lease shall be deemed a waiver thereof, and that
right or remedy may be asserted at any time after the delaying party becomes entitled to the benefit of such right or remedy notwithstanding
such delay.

 

SECTION 29. CAPTIONS.

 

The
Section headings of this Lease are for descriptive purposes only and in no way define, limit or describe the scope, intent or meaning
of this Lease.

 

SECTION 30. CONSENT.

 

Except
where otherwise specifically provided in this Lease to the contrary, whenever a party’s consent or approval is required under
this Lease, such party shall not unreasonably withhold, condition or delay its consent or approval.

 

SECTION 31. LIMITATION
ON LIABILITY.

 

Notwithstanding
anything to the contrary in this Lease, except to the extent of the negligence or willful misconduct of Landlord and its agents
and employees, Tenant hereby releases Landlord, its agents and employees from: (a) damage to Tenant’s property; and (b) damage
arising out of the acts, including criminal acts, of third parties.

 

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SECTION 32. TIME OF
THE ESSENCE AND HOLIDAYS.

 

Time
is of the essence of each and every provision hereof. If the final date of any period of time set forth herein occurs on a Saturday,
Sunday or legal holiday, then in such event, the expiration of such period of time shall be postponed to the next day which is
not a Saturday, Sunday or legal holiday.

 

SECTION 33. COMPLETE
AGREEMENT; NO IMPLIED COVENANTS; SEVERABILITY; DRAFTING.

 

This
Lease and the attached Exhibits and schedules, if any, contain the entire agreement of Landlord and Tenant concerning the Premises,
Building, Project, and Common Areas, and all prior written and oral agreements and representations between the parties are void.
LANDLORD AND TENANT AGREE THAT THERE ARE NO IMPLIED COVENANTS OR OTHER AGREEMENTS BETWEEN THE PARTIES EXCEPT AS TO THE PARTIES’
RESPECTIVE IMPLIED COVENANTS OF GOOD FAITH AND FAIR DEALING AND AS OTHERWISE EXPRESSLY SET FORTH IN THIS LEASE. Neither Landlord
nor Tenant is relying on any representations of the other party or such party’s agents, except those expressly set forth
herein. If any provision of this Lease is held to be invalid or unenforceable, the validity and enforceability of the other provisions
of this Lease shall not be affected. All provisions of this Lease have been negotiated at arm's length and this Lease shall not
be construed for or against any party by reason of the authorship or alleged authorship of any provision hereof.

 

SECTION 34. SUCCESSORS.

 

Subject
to Section 13, this Lease shall bind and inure to the benefit of the parties, their respective heirs, successors, and permitted
assigns.

 

IN WITNESS WHEREOF, the duly
authorized representatives of the parties have executed this Lease:

 

	LANDLORD: Schmitt Industries Inc
	 
	
        By: ______________________

	Title: _____________________
	Date: _____________________
	 
	TENANT: Humboldt Street Collective, LLC
	 
	
        By: ______________________

	Title: _____________________
	Date: _____________________
	 

 

	
         

        THIS DOCUMENT AND ANY
        ATTACHMENTS HERETO HAVE BEEN PREPARED FOR SUBMISSION TO YOUR ATTORNEY FOR REVIEW AND APPROVAL PRIOR TO SIGNING. NO REPRESENTATION
        OR RECOMMENDATION IS MADE BY COMMERCIAL ASSOCIATION OF BROKERS OR BY THE REAL ESTATE LICENSEES INVOLVED WITH THIS DOCUMENT AND
        ANY ATTACHMENTS HERETO AS TO LEGAL SUFFICIENCY OR TAX CONSEQUENCES. THIS FORM SHOULD NOT BE MODIFIED WITHOUT SHOWING SUCH MODIFICATIONS
        BY REDLINING, INSERTION MARKS, EXHIBITS OR ADDENDA.

         

 

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EXHIBIT A

Legal Description of the
Project

 

That part of Block 1, INDUSTRIAL CENTER, in the City of Portland,
County of Multnomah and State of Oregon, lying South of the north line of the D. Balch Donation Land Claim;

 

EXCEPTING THEREFROM that portion thereof described in deed to
Industrial Metals Co., an Oregon corporation, recorded October 2, 1956, in Book 1808, page 392, Deed Records, and being more particularly
described as follows: Beginning at an iron pipe at the northwest corner of the William Blackistone DLC, thence North 89°22’
West 257.36 feet to an iron pipe, said iron pipe being in the west line of Block 1, INDUSTRIAL CENTER: thence South 0°38’
West 115 feet along the said west line of said Block 1; thence South 89°22’ East 258.86 feet to an iron pipe, said iron
pipe being on the east line of the aforesaid Block 1; thence North 0°7’ West 115 feet to the point of beginning.

 

ALSO EXCEPTING THEREFROM any portion thereof lying within the
boundaries of roads and highways.

 

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EXHIBIT B-1

 

Project Site Plan

 

 

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EXHIBIT B-2

Building Site Plan

 

 

 

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EXHIBIT B-3

Floor Plan of the Building with
the Premises Shown as Single Hatched Thereon

 

 

 

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EXHIBIT C

Work Letter

 

Landlord will perform the following
work: 

		1.	Remove chain link fence and yellow bollards in front parking lot

		2.	Remove overhead and jib cranes

		3.	Remove water fountain

		4.	Repair/Replace bathroom ceiling tiles and deep clean restroom

		5.	Deliver Premises in broom clean condition

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

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EXHIBIT D

Rules and Regulations

 

In the event of a conflict between the following Rules and Regulations
and the terms of the Lease to which this Addendum is attached, the terms of the Lease shall control.

 

		1.	The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or its agents, or used by them for any
purpose other than ingress and egress and loading and unloading of items to and from the Premises.

		1.	Tenant shall not place any objects, including antennas, outdoor furniture, etc., in the parking areas, landscaped areas or
other areas outside of its Premises, or on the roof of the Project.

		2.	Except for licensed service animals (where access of the same is required by applicable Lega Requirements), no animals shall
be allowed in the offices, halls, or corridors in the Project.

		3.	Tenant shall not disturb the occupants of the Project or adjoining buildings by the use of any radio or musical instrument
or by the making of loud or improper noises that are not reasonable for the Building’s industrial purpose.

		4.	If Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will direct
the electrician as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will
be permitted. Any such installation or connection shall be made at Tenant’s expense.

		5.	Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except
as specifically approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is
expressly prohibited. Explosives or other articles deemed extra hazardous shall not be brought into the Project.

		6.	Parking any type of recreational vehicles is specifically prohibited on or about the Project.. 
In the event that a vehicle is disabled, it shall be removed within 48 hours. There shall be no “For Sale” or other
advertising signs on or about any parked vehicle. All vehicles shall be parked in the designated parking areas in conformity with
all signs and other markings. All parking will be open parking, and no reserved parking, numbering or lettering of individual spaces
will be permitted except as specified by Landlord.

		7.	Tenant shall not wash or service any vehicles in or about the Premises or the Project.

		8.	Tenant shall maintain the Premises free from rodents, insects and other pests.

		9.	Landlord reserves the right to exclude or expel from the Project any person who, in the judgment of Landlord, is intoxicated
or under the influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the
Project.

		10.	Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of
good order and cleanliness. Landlord shall not be responsible to Tenant for any loss of property on the Premises, however occurring,
or for any damage done to the effects of Tenant by the janitors or any other employee or person.

		11.	Tenant shall give Landlord prompt notice of any defects in the water, lawn sprinkler, sewage, gas pipes, electrical lights
and fixtures, heating apparatus, or any other service equipment affecting the Premises.

		12.	Tenant shall not permit dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary
system in or about the Premises.

		13.	All moveable trash receptacles provided by the trash disposal firm for the Premises must be kept in the trash enclosure areas,
if any, provided for that purpose.

		14.	No auction, public or private, will be permitted on the Premises or the Project.

		15.	No awnings shall be placed over the windows in the Premises except with the prior written consent of Landlord.

		16.	The Premises shall not be used for lodging, sleeping or cooking or for any immoral or illegal purposes or for any purpose other
than that specified in the Lease. No gaming devices shall be operated in the Premises.

		17.	Tenant shall ascertain from Landlord the maximum amount of electrical current which can safely be used in the Premises, taking
into account the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not
use more than such safe capacity. Landlord’s consent to the installation of electric equipment shall not relieve Tenant from
the obligation not to use more electricity than such safe capacity.

		18.	Tenant assumes full responsibility for protecting the Premises from theft, robbery and pilferage.

		19.	Tenant shall not install or operate on the Premises any machinery or mechanical devices of a nature not directly related to
Tenant’s ordinary use of the Premises.

		20.	Tenant shall not knowingly introduce, disturb or release asbestos or PCBs onto or from the Premises.

		21.	Tenant shall at all times conduct its operations in a good and workmanlike manner, employing best management practices to minimize
the threat of any violation of Environmental Requirements.

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

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EXHIBIT F

Addendum

 

First Right of Refusal to Lease:

 

So long as Tenant is
not then in material violation of the terms of the Lease, during the term of the Lease, Tenant will be granted a first right of
refusal to lease the remainder of Building 2 for the duration of the Term in the event of a vacancy. Base Rent for the expansion
space shall be based upon the current Base Rent being paid for the Premises on a per square foot basis, multiplied by the expansion
area, and shall escalate at the same rate and time in accordance with the rent schedule set forth in Section 1.14 of the Lease.
In the event that Tenant exercises the first right of refusal, the Lease will be amended by Landlord and Tenant to include the
expansion space.

 

OPTION TO RENEW AT MARKET RENT

 

1.       Option Period:

 

So long as Tenant is not in default under
this Lease beyond the applicable cure period, if any, at the time of exercise, Landlord hereby grants Tenant one
(1) option(s) to extend the initial term of this Lease for an additional period of five (5)
years each (the "Option Period") on the same terms, covenants, and conditions of this Lease, except that the Rent shall
be determined pursuant to Paragraph 2 below. Tenant shall exercise each option, if at all, by giving Landlord written notice
(the "Option Notice") at least One Hundred Eighty (180) days prior to the expiration of
the immediately preceding term or Option Period of this Lease.

 

2.       Option Period
Monthly Rent:

 

The monthly rent for of each Option Period
will be determined as follows:

 

2.1       Landlord
and Tenant will have fifteen (15) days after Landlord receives the Option Notice within which to agree on a rental rate for the
first (1st) year of the Option Period which shall be an amount equal to the then fair market rental value of the Premises as defined
in Paragraph 2.3 below. If Landlord and Tenant agree on the initial monthly rent for the first (1st) year of the Option
Period within said fifteen (15) days, the parties will amend this Lease by stating the initial monthly rent for the Option Period.

 

2.2       If
Landlord and Tenant are unable to agree on the initial monthly rent for the first (1st) year of the Option Period within said fifteen
(15) days, then, the initial monthly rent for the first (1st) year of the Option Period will be the then fair market rental value
of the Premises as determined in accordance with Paragraph 2.4 below.

 

2.3       The
"then fair market rental value of the Premises" means what a landlord under no compulsion to lease the Premises and a
tenant under no compulsion to lease the Premises would determine as rents (including initial monthly rent and rental increases)
for the Option Period, as of the commencement of the Option Period, taking into consideration the uses permitted under this Lease,
the quality, size, design, and location of the Premises, and the rent for comparable buildings located in Northwest Portland.
The then fair market rental value of the Premises for each Option Period will not be less than the Rent provided during the initial
term.

 

2.4       Within
seven (7) days after the expiration of the fifteen (15) day period set forth in Paragraph 2.2, Landlord and Tenant
will each appoint a real estate appraiser with at least five (5) years' full-time commercial appraisal experience in the
geographic area in which the Premises are located to appraise the then fair market rental value of the Premises. If either
Landlord or Tenant does not appoint an appraiser within ten (10) days after the other has given notice of the name of its
appraiser, the single appraiser appointed will be the sole appraiser and will set the then fair market rental value of the
Premises. If two appraisers are appointed pursuant to this paragraph, they will meet promptly and attempt to set the then
fair market rental value of the Premises. If they are unable to agree within thirty (30) days after the second appraiser has
been appointed, they will attempt to elect a third appraiser meeting the qualifications stated in this paragraph within ten
(10) days after the last day the two appraisers are given to set the then fair market rental value of the Premises. If they
are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' prior notice to the other,
can apply to the then presiding judge of the Multnomah County Court for the selection of a third appraiser who
meets the qualifications stated in this paragraph. The parties shall each bear the cost of the appraiser selected by such
party and one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser's fee. The third
appraiser, however selected, must be a person who has not previously acted in any capacity for either Landlord or Tenant.

 

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

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2.5       Within
thirty (30) days after the selection of the third appraiser, a majority of the appraisers will set the then fair market rental
value of the Premises. If a majority of the appraisers are unable to set the then fair market rental value of the Premises within
thirty (30) days after selection of the third appraiser, the three appraisals will be averaged and the average will be the then
fair market rental value of the Premises.

 

 

 

	 	©
Commercial Association of Brokers Oregon/SW Washington (2/05) (Rev. 04/12) MULTI-TENANT NET LEASE (BUSINESS PARK - OR)

ALL RIGHTS RESERVED 

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