Exhibit 10.227
SIXTH AMENDMENT TO LEASE
AGREEMENT
THIS SIXTH AMENDMENT of Lease (this
“Amendment”) is made and entered into this 3
rd
day of June, 2005, by
and between GREENWAY PROPERTIES, INC. (f.k.a. Western Center
Properties, Inc.) (“Landlord”) and PPD DEVELOPMENT, LP
(successor in interest to PPD Development, LLC)
(“Tenant”).
W I T N E S S E T H:
WHEREAS, the Tenant, through its
predecessor in interest, entered into a lease dated April, 30,
2001, as amended on August 15, 2001, August 25,
2003, March 22, 2004, May 17, 2004 and
December 14, 2004 of certain space located at 8551 Research
Way, Middleton, Wisconsin (the lease, as so amended and as amended
by this Amendment is referred to as the “Lease”) in a
building known as the Greenway Research Center
(“Building”); and
WHEREAS, the Landlord is the current
owner of the real estate which is the subject matter of the Lease;
and
WHEREAS, the parties desire to amend
the Lease as set forth herein;
NOW, THEREFORE, in consideration of
the mutual promises contained herein and for other good and
valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, it is agreed as follows:
1. Additional Space - Tenant
agrees to lease additional space in the Building consisting of
approximately 2,785 rentable square feet, as shown on the attached
Exhibit A (“Additional Space”). The Additional Space
shall be considered part of Tenant’s Premises and subject to
all terms contained in the Lease, except as modified in this
amendment.
2. Commencement Date - The
Commencement Date on the Additional Space shall be June 3,
2005 and shall end on November 30, 2011, unless further
extended.
3. Rent Commencement Date -
The Rent Commencement Date shall be the date upon which the
Business Fixtures referred to in Section 8 of this Amendment
have been removed and all repairs and clean up necessary due to
their removal have been completed by the Landlord.
4. Triple Net Base Rent -
Beginning with the Rent Commencement Date on the Additional Space,
in addition to rent otherwise payable under the Lease, Tenant shall
pay base rent for the Additional Space in the amount of Nineteen
Dollars and Zero Cents ($19.00) per rentable square foot per year.
Beginning on June 1, 2006, and continuing annually thereafter,
the base rent shall increase three percent (3%) per
year.
5. Triple Net Expense
Reimbursement - Effective on the Rent Commencement Date,
Tenant’s prorated share of the Greenway Research
Center’s operating expenses as defined in Section 4.5 of
the lease shall be Thirty-seven and 15/l00ths Percent
(37.15%) (total square feet under lease divided by the
Building’s total square feet - 70,783/190,549).
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6. Utilities - Beginning with
Commencement Date on the Additional Space, Tenant shall pay for all
utilities consumed in the Additional Space. Tenant shall
immediately place all utility services and accounts directly in its
name, with the exception of water and sewer services.
7. Existing Improvements -
The Additional Space contains and/or is serviced by existing
improvements including but not limited to HVAC equipment,
humidifiers, plumbing equipment, electrical panels and controls,
etc., which solely serve the Additional Space (“Existing
Improvements”). The Tenant acknowledges that it has had a
reasonable opportunity to and has inspected the Additional Space
and the Existing Improvements to its satisfaction. Accordingly,
Tenant takes the Existing Improvements and the Additional Space in
“AS IS” and WHERE IS” condition without any
warranty express or implied by Landlord as to any aspect of the
physical condition of the Additional Space and Existing
Improvements or their suitability for the Tenant’s intended
use. Beginning with the Commencement Date, Tenant shall, at its own
cost and expense, keep, maintain, repair and/or replace the
Existing Improvements in the Additional Space in good condition and
in accordance with manufacturer’s recommendations. Landlord
shall have the right to enter the Additional Space for the purpose
of inspecting the same and the Existing Improvements. At the end of
the Lease Term, Tenant shall return the Additional Space, with the
Existing Improvements in good, fully functional condition, subject
to normal wear and tear.
8. Business Fixtures - The
Additional Space currently contains various Vivarium equipment,
including but not limited to eight (8) rodent cage racks,
cages, cage washer, autoclave, etc. Landlord shall remove these
items within thirty (30) days of the Commencement Date. Any
damage caused by the removal of these Business Fixtures shall be
promptly repaired by the Landlord. In addition, any plumbing and/or
electrical services to the Business Fixtures shall be terminated in
full compliance with local building codes.
9. Insurance - Landlord shall
at all times during the term of this Lease keep the Existing
Improvements which are now or hereafter a part of the Additional
Space insured against loss or damage by fire and hazards in an
amount equal to the full replacement value thereof. Tenant shall
reimburse Landlord for the payment of the insurance premiums
related thereto. Tenant shall be responsible for carrying personal
property insurance sufficient to cover the loss of all personal
property on the Premises. Landlord shall not be liable for any
damage to or loss of property on equipment Tenant has installed on
the Premises. Tenant shall also provide evidence of worker’s
compensation insurance as required by law.
10. Common Area - In
conjunction with the leasing of the Additional Space, the common
area as referred to in Section 10 of the 5
th
Amendment shall become
part of the Tenant’s Premises. Landlord will no longer have
responsibility for demising the Additional Space (“previously
known as the Vivarium”) from the Expansion Space as described
in Section 9 in the Fifth Amendment to Lease.
11. Backup Generator .
Beginning with the Rent Commencement Date on the Additional Space,
Tenant shall become fully responsible for any and all obligations
under the Madison Gas and Electric, Electric Service Agreement for
Purchase of Backup Generation Service.
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12. Full Force and Effect:
Miscellaneous . Except a
