SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-10.5
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/ex10-5.htm

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is herein called “Superior Mortgage” and the holder of a Superior Mortgage, or its successor in interest at the time referred to, is herein called “Superior Mortgagee.” If any Superior Mortgagee, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such Superior Mortgage. The election of any such Superior Mortgagee shall become effective upon either notice from such Superior Mortgagee to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder’s office of an instrument in which the Superior Mortgagee subordinates its rights under such Superior Mortgage to this Lease.

If any Superior Lessor or Superior Mortgagee or the nominee or designee of any Superior Lessor or Superior Mortgagee shall succeed to
the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new lease or deed, or otherwise,
then at the request of such party so succeeding to Landlord’s rights (herein called “Successor Landlord”), Tenant
shall attorn to and recognize such Successor Landlord as Tenant’s landlord under this Lease and shall promptly execute and deliver
any instrument that such Successor Landlord may reasonably request to evidence such attornment. Upon such attornment, this Lease shall
continue in full force and effect as a direct lease between the Successor Landlord and Tenant upon all of the terms, conditions and covenants
as are set forth in this Lease, except that the Successor Landlord shall not be (i) liable in any way to Tenant for any act or omission,
neglect or default on the part of Landlord under this Lease, (ii) responsible for any monies owing by or on deposit with Landlord to
the credit of Tenant, (iii) subject to any counterclaim or setoff which theretofore accrued to Tenant against Landlord, (iv) bound by
any modification of this Lease subsequent to such Superior Lease or Superior Mortgage, or by any previous prepayment of fixed rent for
more than one (1) month, which was not approved in writing by the Superior Lessor or the Superior Mortgagee thereto, (v) liable to the
Tenant beyond the Successor Landlord’s interest in the Property and the rents, income, receipts, revenues, issues and profits issuing
from such Property, (vi) responsible for the performance of any work to be done by the Landlord under this Lease to render the Premises
ready for occupancy by the Tenant, (vii) liable for the payment of any improvement allowance or similar amount owing to Tenant on account
of the performance of any alterations or leasehold improvements to the Premises or the Building, or (viii) required to remove any person
occupying the Premises or any part thereof, except if such person claims by, through or under the Successor Landlord.

Assignment of Rents and Transfer of Title.

With reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable hereunder, conditional
in nature or otherwise, which assignment is made to a Superior Mortgagee on property which includes the Premises, Tenant agrees that
the execution thereof by Landlord, and the acceptance thereof by the Superior Mortgagee shall never be treated as an assumption by the
Superior Mortgagee of any of the obligations of Landlord hereunder unless the Superior Mortgagee shall, by notice sent to Tenant, specifically
otherwise elect and, except as aforesaid, the Superior Mortgagee shall be treated as having assumed Landlord’s obligations hereunder
only upon foreclosure of the Superior Mortgage and the taking of possession of the Premises.

In no event shall the acquisition of Landlord’s interest in the Property by a purchaser which, simultaneously therewith, leases
Landlord’s entire interest in the Property back to the seller thereof be treated as an assumption by operation of law or otherwise,
of Landlord’s obligations hereunder, but Tenant shall look solely to such seller-lessee, and its successors from time to time in
title, for performance of Landlord’s obligations hereunder. In any such event, this Lease shall be subject and subordinate to the
lease to such purchaser. For all purposes, such seller-lessee, and its successors in title, shall be the Landlord hereunder unless and
until Landlord’s position shall have been assumed by such purchaser-lessor.

Except as provided in paragraph (b) of this Section, in the event of any transfer of title to the Property by Landlord, Landlord
shall thereafter be entirely freed and relieved from the performance and observance of all covenants and obligations hereunder.

Notice to Mortgagee. Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without
first giving any Superior Mortgagee and Superior Lessor, as applicable, written notice by certified mail, return receipt requested, specifying
the default in reasonable detail, and affording such Superior Mortgagee and Superior Lessor, as applicable, (i) a reasonable opportunity
to perform Landlord’s obligations hereunder (but not less than thirty (30) days), if such default can be cured without such Superior
Mortgagee or Superior Lessor, as applicable, taking possession of the mortgaged or leased estate, or (ii) time to obtain possession of
the mortgaged or leased estate and then to cure such default of Landlord, if such default cannot be cured without such Superior Mortgagee
or Superior Lessor or taking possession of the mortgaged or leased estate. The curing of any of Landlord’s defaults by a Superior
Mortgagee or Superior Lessor shall be treated as performance by Landlord.

ARTICLE

DEFAULT;
REMEDIES

Tenant’s Default.

If at any time subsequent to the date of this Lease any one or more of the following events (herein referred to as an “Event
of Default”) shall occur:

Tenant shall fail to pay the Basic Rent, Escalation Charges or any other Additional Rent hereunder when due and such failure shall continue
for three (3) Business Days after notice to Tenant from Landlord (except that such written notice shall only be required once in any
twelve (12) month period, with any subsequent failure to pay such sums constituting an Event of Default unless paid within three (3)
Business Days after the date due without need for an additional written notice); or

Tenant shall neglect or fail to perform or observe any other covenant herein contained on Tenant’s part to be performed or observed
and Tenant shall fail to remedy the same within thirty (30) days after notice to Tenant (or such shorter period for completing a cure
for such default as may be required by applicable Laws or by virtue of an emergency situation) specifying such neglect or failure, or
if such failure is of such a nature that Tenant cannot reasonably remedy the same within such thirty (30) day period, Tenant shall fail
to commence promptly (and in any event within such thirty (30) day period) to remedy the same and thereafter to diligently prosecute
such remedy to completion with diligence and continuity (and in any event, within ninety (90) days after the notice described in this
subparagraph (ii)), provided that (x) in no event shall Tenant have such additional period of time that would (A) subject Landlord
or any Superior Lessor or any Superior Mortgagee to prosecution for a crime or any other fine or charge, (B) subject the Property, or
any part thereof, to any lien or encumbrance which is not removed or bonded within the time period required under this Lease, or (C)
result in a default under any Superior Lease or under any Superior Mortgage and (y) such written notice shall only be required twice
in any twelve (12) month period, with any subsequent similar performance default constituting an Event of Default unless cured within
the period required under this Lease without need for an additional written notice); or

(iii)
Tenant’s leasehold interest in the Premises shall be taken on execution or by other process of law directed against Tenant; or