This LEASE
AMENDMENT NO. 1 (this “ Amendment ”) is made as
of August, 2004, by and between CROWN BREA ASSOCIATES, LLC, a
Delaware limited liability company (“Landlord”) and
FREMONT INVESTMENT & LOAN, a California industrial bank
(“Tenant”).
A. Landlord
and Tenant have entered into that certain lease dated as of
April 23, 2004 (the “ Original Lease” )
with respect to the lease of certain premises (the “
Premises ”) located at 2727 East Imperial Highway,
Brea, California, and more particularly described in the Original
Lease. The Original Lease, as amended by this Amendment, is
hereinafter referred to as the “ Lease
”.
B. The
Original Lease provided that Landlord would construct the
Improvements to be constructed within the Premises, but Tenant has
requested, and Landlord has agreed, that Tenant will construct the
Improvements.
C. All
defined terms used herein but not defined herein shall have the
meaning ascribed to such terms in the Original Lease.
D. Landlord
and Tenant now desire to enter into this Amendment to amend the
Original Lease as hereinafter provided.
NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows,
notwithstanding anything in the Original Lease to the
contrary:
1. Tenant
Work Letter . Exhibit D of the Lease is hereby amended as
follows:
1.1
Section 2.2 of the Work Letter (entitled “
Disbursement of the Improvement Allowance ”) is hereby
amended by inserting “to reimburse Tenant” immediately
following ‘“pursuant to Landlord’s disbursement
process)” in the third line of said Section 2.2.
1.2
Section 3.1 of the Work Letter (entitled “ Selection
of Architect/Construction Drawings ”) is hereby
amended by deleting the first two (2) sentences thereof and
inserting in lieu thereof:
“Tenant has
retained Environetics Group (the “Architect”) to
prepare the “Construction Drawings,” as that term is
defined in this Section 3.1. Tenant has also retained
Innovative Engineering Consultants as engineering consultants (the
“Engineers”) to prepare all plans and
engineering working drawings relating to the structural,
mechanical, electrical, plumbing, HVAC and lifesafety work of the
Tenant Improvements.”
1.3
Section 4.1 of the Work Letter (entitled
“Contractor” ) is hereby deleted in its entirety
and inserting the following in lieu thereof:
“4.1
Contractor . Tenant has retained Turelk, Inc. as the
contractor, which shall construct the Improvements. Turelk, Inc. is
referred to herein as the
“Contractor”.”
1.4
Section 4.3 of the Work Letter (entitled “
Construction of Improvements by Contractor under the
Coordination of Landlord ”) is hereby amended by deleting
such provision in its entirety and inserting in lieu
thereof:
“4.3
Construction of Improvements by Contractor under the
Coordination of Tenant .
4.3.1
Tenant Obligations . Tenant shall pay or cause to be paid
the total cost and expense of all work or improvements, as that
phrase is defined in the mechanic’s lien law in effect at the
place of construction when the work begins. No such payment shall
be construed as rent. Tenant shall not permit to be enforced
against the Premises or any part of it any mechanic’s,
materialman’s, contractor’s or subcontractor’s
lien arising out of any work or improvements, however it may arise.
Landlord reserves a right to post and record notice of
non-responsibility in conformity with California law. However,
Tenant may in good faith and at Tenant’s own expense, contest
the validity of any such asserted lien, claim or demand, provided
Tenant has furnished the bond required by any statute enacted for
providing a bond freeing the leased premises from the effect of
such a lien claim. Tenant shall defend and indemnify Landlord
against all liability and loss of any type arising out of work
performed on the Premises by Tenant, together with actual
reasonable attorneys” fees and all reasonable costs and
expenses incurred by Landlord in negotiating, settling, defending
or otherwise protecting against such claims. If Tenant does not
cause to be recorded the bond necessary to free the Premises from
the effect of such a lien claim and a final judgment has been
rendered against Tenant by a court of competent jurisdiction for
the foreclosure of such a claim, and if Tenant fails to stay the
execution of the judgment by lawful means or pay the judgment,
Landlord shall have the right, but not the duty, to pay or
otherwise discharge, stay or prevent the execution of any such
judgment or lien or both. Tenant shall reimburse Landlord for all
sums paid by Landlord under this Paragraph together with all
Landlord’s actual, reasonable attorneys’ fe
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