|AUDENTES THERAPEUTICS, INC. filed this Form 10-K on 03/13/2017|
per annum. If the amount of any overcharge for the combined total of Lessee’s Percentage Share of Common Area Maintenance and Repair Costs and maintaining the Common Roadway exceeds ten percent (10%) of Lessee’s Percentage Share of Common Area Maintenance Costs and the cost of maintaining the Common Roadway for that year, Lessor shall promptly reimburse Lessee for the reasonable costs of such audit. The provisions of this Paragraph 1E(2) shall survive the expiration or earlier termination of this Lease.
2.Term; Delivery of Possession
A.The term of this Lease shall begin on June 1, 2017 (“Commencement Date”), and shall end, unless sooner term terminated as hereinafter provided, on May 31, 2027.
B.Lessor and Lessee acknowledge that Lessee has been in possession of a portion of the Premises as a subtenant of a prior tenant pursuant to a subletting agreement with that Tenant (the “Sublease”). Therefore, so long as the Sublease is not terminated prior to its expiration date, Lessee will be deemed to have received possession of the portion of the Premises it occupies pursuant to the Sublease.
C.If possession of that portion of the Premises which Lessee does not occupy pursuant to the Sublease is not delivered to Lessee on the Commencement Date, Base Monthly Rent of $405.00 per day shall be abated until the date on which Lessor delivers possession of that portion of the Premises to Lessee.
3.Rent and General Provisions Regarding Payments.
A. Lessee shall pay the following rent (“Base Monthly Rent”) to Lessor in advance no later than the first day of each month during the term of this Lease, commencing on the Commencement Date, for the rental of the Premises (except as provided in subparagraph 2C above):
From June 1, 2017, through May 1, 2018$52,945.00 per month
From June 1, 2018, through May 1, 2019$54,534.00 per month
From June 1, 2019, through May 1, 2020 $56,170.00 per month
From June 1, 2020 through May 1, 2021$57,855.00 per month
From June 1, 2021 through May 1, 2022$59,591.00 per month
From June 1, 2022 through May 1, 2023$61,378.00 per month
From June 1, 2023 through May 1, 2024$63,220.00 per month
From June 1, 2024 through May 1, 2025$65,117.00 per month
From June 1, 2025 through May 1, 2026$67,070.00 per month