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SEC Filings

VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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6.             SECURITY DEPOSIT. As additional security for the full and prompt performance by Tenant of the terms and covenants of this Lease, including without limitation the recovery by Landlord of all amounts due and owing under this Lease, Tenant has deposited (or shall deposit upon execution hereof by Tenant) with the Landlord, the Security Deposit, which shall not constitute Rent for any month (unless so applied by Landlord on account of Tenant’s default) or a measure of Tenant’s liability for damages. Upon a default by Tenant hereunder, which is not cured within any notice and/or cure period set forth herein, Landlord shall have the right, without prejudice to any other remedy, to apply so much of the Security Deposit as is necessary to cure such default or pay any expenses (including, without limitation, reasonable attorney’s fees) incurred as a result of such default, or to satisfy any claim of judgment for damages Tenant shall, upon demand, restore any portion of said Security Deposit applied by Landlord to the cure of any default by Tenant hereunder, and to also restore or secure a replacement letter of credit in conformity with this Lease. Landlord shall not commingle the Security Deposit with the other account(s) of Landlord. To the extent that Landlord has not applied said sum on account of a default, the Security Deposit shall be returned (with interest) to Tenant within thirty (30) days following the later to occur of: (a) the Expiration Date, and (b) and the date that Tenant surrenders possession the Property in accordance with the terms of this Lease. The Security Deposit shall be in the form of a Standby Letter of Credit, as defined in this Lease.




(a)           Tenant’s Maintenance Obligation. Tenant shall be responsible for the maintenance, repair and replacement of all systems, including specifically, plumbing (only such plumbing as is internal to the building and does not extend beyond the exterior walls of the Building shall be Tenant’s obligation), sprinkler, electric from the secondary side of the transformer into the Building, an annual service/maintenance contract for the elevator and maintenance associated therewith (but not the obligation or replace the elevator—which obligation shall be the responsibility of Landlord) and HVAC systems, as well as all landscaping, utilities, cleaning and repair of the Property, excluding the physical structure of the Building, the paved surfaces of the parking lot and driveway areas. Notwithstanding anything herein, Tenant shall be responsible for the cleaning, ice removal and snow removal on the paved surfaces and driveway areas. Tenant acknowledges that Landlord will cause to be installed a new roof at the Property. Tenant shall consult with, and follow the directions and instructions of, Landlord’s roofing contractor prior to entering upon, working upon, or penetrating the roof for any reason to ensure continued compliance with the warranty provisions of the new roof. In the event Tenant fails to so act, and the roof warranty is voided, Tenant shall be responsible for any roof repairs required to reinstate the warranty. Any item which Tenant fails to repair, may be repaired by Landlord, after notice to cure has been provided, and the cost thereof shall be Additional Rent. Landlord represents to Tenant that as of the date of this Lease, all such systems are in good and workmanlike condition and in good operating condition.


(b)           Landlord’s Maintenance Obligations. Except as expressly set forth in Section 7(a) above, Landlord shall be responsible for the maintenance, replacement and repair of the physical structure of the Building, and the Property, including, without limitation, the roof, foundation, floor slabs other structural supports of the Building, the parking lot and all other paved surfaces and driveway areas (excluding the cleaning, ice removal and snow removal for any paved surfaces or driveways). Landlord’s sole responsibility and maintenance obligation with regard to the elevator shall only be for the replacement of the elevator in the Building if the maintenance company performing the service work indicated that the replacement of the elevator is required for code or safety reasons and for the cost of bringing the elevator in