2 unchanged sentences
Leased / Owned
−Removed: Arizona Natural Remedies, Inc.
−Removed: Frontage Road
−Removed: Amado, Arizona 85645)
(100 Enterprise Drive
7 unchanged sentences
Red Barn Growers, Inc.
−Removed: Historic Hwy 66
+Added: (06 Taos Road
Gallup, New Mexico 87301)
16 unchanged sentences
IIP-MN 1 LLC (“ Minnesota Landlord ”) and Minnesota Medical Solutions, LLC (predecessor to Vireo Health of Minnesota, LLC) entered into a lease agreement on November 8, 2017 that was set to expire on November 8, 2032 (“ MN Lease Agreement ”).
−Removed: Concurrent with the execution of the lease, Minnesota Landlord closed on a purchase of real property
−Removed: and improvements on the property located at 8740 77th Street Northeast, Ostego, Minnesota on October 6, 2017.
+Added: Concurrent with the execution of the lease, Minnesota Landlord closed on a purchase of real property and improvements on the property located at 8740 77th Street Northeast, Ostego, Minnesota on October 6, 2017.
The monthly base rent for the first 12 months of the term of the MN Lease Agreement was $50,000, with $300,000 to be paid in security deposit.
11 unchanged sentences
The foregoing description is qualified in its entirety by reference to the 4 th Amendment to the MN Lease Agreement, which is included as Exhibit 10.18 hereto and incorporated by reference herein.
+Added: Pursuant to the Fifth Amendment to the MN Lease Agreement (“ 5 th Amendment to the MN Lease Agreement ”), dated February 24, 2023, a default by any affiliate of Vireo Health of Minnesota, LLC (f/k/a Minnesota Medical Solutions, LLC), under another lease with the Minnesota Landlord or any affiliate of the Minnesota Landlord, beyond any applicable notice and cure periods, constitutes a default under the MN Lease Agreement, as amended.
+Added: The forgoing description is qualified in its entirety by reference to the 5 th Amendment to the MN Lease Agreement, which is included as Exhibit 10.43 hereto and incorporated by reference.
New York Lease
5 unchanged sentences
The foregoing description is qualified in its entirety by reference to the 1 st Amendment to the NY Lease Agreement, which is included as Exhibit 10.10 hereto and incorporated by reference herein.
−Removed: Pursuant to the Second Amendment to the NY Lease Agreement (“ 2 nd Amendment to the NY Lease Agreement ”), dated April 10, 2020, the term of the NY Lease Agreement was extended to April 9, 2035 and Vireo Health of New York, LLC
−Removed: was permitted to make improvements at a cost to New York Landlord not to exceed $3,360,000 rather than $3,000,000 as detailed in the 1 st Amendment to the NY Lease Agreement.
+Added: Pursuant to the Second Amendment to the NY Lease Agreement (“ 2 nd Amendment to the NY Lease Agreement ”), dated April 10, 2020, the term of the NY Lease Agreement was extended to April 9, 2035 and Vireo Health of New York, LLC was permitted to make improvements at a cost to New York Landlord not to exceed $3,360,000 rather than $3,000,000 as detailed in the 1 st Amendment to the NY Lease Agreement.
In addition, the monthly base rent was increased to $90,518.51 and the Company provided a new guaranty on behalf of New York Landlord.
5 unchanged sentences
The forgoing description is qualified in its entirety by reference to the 3 rd Amendment to the NY Lease Agreement, which is included as Exhibit 10.12 hereto and incorporated by reference.
+Added: Pursuant to the Fourth Amendment to the NY Lease Agreement (“ 4 th Amendment to NY Lease Agreement ”), dated February 24, 2023, (1) the tenant improvement allowance was increased to a cost not to exceed $53,435,000, instead of $49,435,000 as initially outlined in the 3 rd Amendment to the NY Lease Agreement.
+Added: In addition, the monthly base rent was increased by an additional $50,000, (2) the security deposit was increased by an additional $150,000, and (3) a default by any affiliate of Vireo Health of New York, LLC, under another lease with the New York Landlord or any affiliate of the New York Landlord, beyond any applicable notice and cure periods, constitutes a default under the NY Lease Agreement, as amended.
+Added: The forgoing description is qualified in its entirety by reference to the 4 th Amendment to the NY Lease Agreement, which is included as Exhibit 10.44 hereto and incorporated by reference.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.