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❑ If this box is checked,Tenant shall have the option of renewing this'Lease,upon written notice given to Landlord at least
<br /> days prior to the end of the then expiring term of this Lease,for additional term(s)as specified on Exhibit B.
<br /> ❑Option to Lease- If this box is checked,Tenant,upon the payment of the sum of$
<br /> (which suns is not rental or security deposit hereunder,but is consideration for this Option to Lease and is non-refundable under any
<br /> circumstances)shall have a period of days prior to the Lease Commencement Date ("Option Period") in which to
<br /> inspect the Premises and make inquiry regarding such sign regulations, zoning regulations,utility availability, private restrictions or
<br /> permits or other regulatory requirements as Tenant may deem appropriate to satisfy itself as to the use of the Premises for Tenant's
<br /> intended purposes. Tenant shall conduct all such on-site inspections, examinations, inquiries and other review of the Premises in a
<br /> good and workmanlike manner, shall repair any damage to the Premises caused by Tenant's entry and on-site inspections and shall
<br /> conduct same in a manner that does not unreasonably interfere with Landlord's or any tenant's use and enjoyment of the Premises. In
<br /> that respect,Tenant shall make reasonable efforts to undertake on-site inspections outside of the hours any tenant's business is open to
<br /> the public and shall give prior notice to the tenant at the Premises of any entry onto the Premises for the purpose of conducting
<br /> inspections. Upon Landlord's request, Tenant shall provide to Landlord evidence of general liability insurance. Tenant shall also
<br /> have a right to review and inspect all contracts or other agreements affecting or related directly to the Premises and shall be entitled to
<br /> review such books and records of Landlord that relate directly to the operation and maintenance of the Premises,provided,however,
<br /> that Tenant shall not disclose any information regarding the Premises(or any tenant therein)unless required by law and the same shall
<br /> be regarded as confidential,to any person,except to its attorneys,accountants,lenders and other professional advisors,in which case
<br /> Tenant shall obtain their agreement to maintain such confidentiality, Tenant assumes all responsibility for the acts of itself, its agents
<br /> or representatives in exercising its rights under this Option to Lease and agrees to indemnify and hold Seller harmless from any
<br /> damages resulting therefrom, This indemnification obligation of Tenant shall survive the termination of this Option to Lease or this
<br /> Lease. Tenant shall,at Tenant's expense,promptly repair any damage to the Premises caused by Tenant's entry and on-site inspections. IF
<br /> TENANT CHOOSES NOT TO LEASE THE PREMISES, FOR ANY REASON OR NO REASON, AND PROVIDES
<br /> WRITTEN NOTICE TO LANDLORD THEREOF PRIOR TO THE EXPIRATION OF THE OPTION PERIOD, THEN
<br /> THIS LEASE SHALL TERMINATE AND NEITHER PARTY SHALL HAVE ANY FURTHER OBLIGATIONS
<br /> HEREUNDER AND LANDLORD SHALL RETURN TO TENANT ANY RENTAL OR SECURITY DEPOSIT PAID TO
<br /> LANDLORD HEREUNDER. Tenant shall be deemed to have exercised its Option to Lease and to be bound under the terms of this
<br /> Lease if(i) Tenant shall occupy the Premises prior to the expiration of the Option Period, whereupon the date of occupancy shall be
<br /> deemed the Lease Commencement Date,or(ii)Tenant shall not provide written notice to Landlord of its termination of this Lease prior to
<br /> the expiration of the Option Period.
<br /> RENTAL
<br /> 3. Beginning on 11/08/2019 ("Rent Commencement Date"), Tenant agrees to pay Landlord (or its
<br /> Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of$97,500.00 ,
<br /> payable in equal monthly installments of$8,125.00 , in advance on the first day of each calendar month
<br /> during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due
<br /> hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly
<br /> installment of rental due,based upon a 30 day month.
<br /> ® If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every
<br /> single Lease Year Anniversary by 3.00 %o over the amount then payable hereunder. In the event renewal of this Lease is
<br /> provided for in paragraph 2 hereof and effectively exercised by Tenant,the rental adjustments provided herein shall apply to the term
<br /> of the Lease so renewed,or
<br /> ❑ If this box is checked,the annual rental payable hereunder(and accordingly the monthly installments)shall be adjusted every
<br /> Lease Year Anniversary by the greater of.(i) percent( %)over the amount then payable hereunder,
<br /> or,(ii)the percentage increase(but not any decrease)in the numerical index of the"Consumer Price Index for All Urban Consumers"
<br /> (1982-84= 100)published by the Bureau of Labor Statistics of the United States Department of Labor("CPI.") for the immediately
<br /> preceding twelve(12)month period over the amount then payable hereunder.
<br /> ❑ If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every
<br /> Lease Year Anniversary by $ over the amount then payable hereunder. In the event renewal of this
<br /> Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant,the rental adjustments provided herein shall apply to
<br /> the term of the Lease so renewed.
<br /> ❑ If this box is checked,the annual rental payable hereunder(and accordingly the monthly installments)shall be adjusted as provided
<br /> on Exhibit B.
<br /> ® If this box is checked,Tenant shall pay all rental to Landlord's Agent at the following address;
<br /> Ticon,Inc.
<br /> 5836 Fa etteville Road,Suite 203,
<br /> Durham,NC 27713
<br /> Page 12 STANDARD FORM 592-T
<br /> Revised 712019
<br /> Tenant Initials Landlord Initials 0 7/2019
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