THIS LEASE is entered into on September 6, 2005, by and between BMR-2282 FARADAY AVENUE
LLC , a Delaware limited liability company (the “Landlord”), and ISIS PHARMACEUTICALS, INC. , a
Delaware corporation, (the “Tenant”).
Description of Premises
1.1 Premises. Landlord hereby leases to Tenant and Tenant leases from Landlord, pursuant to the
terms, conditions and uses herein set forth, that certain real property commonly known as 2282 Faraday Avenue,
Carlsbad, California and more particularly described in Exhibit ’A’ attached hereto (the “Premises”), including a
building located on the Premises containing approximately 28,704 square feet of rentable space, as shown on the
drawing attached hereto as Exhibit ”B” (the “Building”).
2.1 Lease Term. The term of this Lease will be for 180 months commencing on September [ ],
2005 (the “Commencement Date”)[THE LEASE TERM WILL COMMENCE THE DATE OF THE
CLOSING UNDER THE PURCHASE AGREEMENT] and ending on September , 2020 (“Lease
Term”). Tenant has two options to extend the term, as further described in Article 36.
3.1 Base Monthly Rental. Tenant shall pay to Landlord at the address set forth in Section 35.10,
or such other address as Landlord may advise Tenant in writing, without deduction, offset or prior notice or
demand, and Landlord shall accept, as rent for the Premises the sum of $74,630.40 per month, subject to
adjustments pursuant to Section 3.3 below, in lawful money of the United States payable in advance on the first
day of each month of the term of this Lease. Said monthly installments shall hereinafter be referred to as the
“Base Monthly Rental.” Tenant has delivered to Landlord the Base Monthly Rental for the first month of the term
hereof upon execution and delivery of this Lease. For purposes of this Lease, “Rent” will mean the Base