270 Legal [Sample Agreements]

INDUSTRIAL LEASE AGREEMENT

THIS INDUSTRIAL LEASE AGREEMENT (this “Lease”) dated for references purposes only is made between PS, Business Parks, L.P. a California limited partnership (“Landlord”), and Pro-Dex. Inc. a Colorado corporation (“Tenant”), as of September 24, 2007 (the “date of this Lease”).

BASIC LEASE INFORMATION

PREMISES: Approximately 7,482 rentable square feet commonly known as Suite B-1 15201 NW Greenbrier Parkway, Beaverton, Oregon as depicted on Exhibit A-1.

BUILDING & PROJECT: Approximately 22,920 rentable square feet located at NW Greenbrier Parkway, Beaverton, OR 97006 and commonly referred to as the Ridgeview B Building, as depicted on Exhibit A-2. The Building is a part of the Project commonly referred to as Ridgeview and contains approximately 93,143 square feet, as depicted and more particularly described on Exhibit A-2. The project is part of the property commonly referred to as Cornell Oaks Corporate Center and contains approximately 688,216 square feet as depicted on Exhibit A-2.

PERMITTED USE: General office use and laboratory and warehouse purposes for motion control devices.

TERM: A period of 76 months and 0 days. Subject to Section 1.02, the Term shall commence on November 1, 2007 (the “Commencement Date”) and, unless terminated early in accordance with this Lease, end on February 28, 2014 (the “Termination Date”).
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