Exhibit 10.97
SECOND AMENDMENT
TO
LEASE
(EXPANSION)
THIS SECOND AMENDMENT TO LEASE (the
“Second Amendment”) is made as of the 2
nd day of June 1999, by and between
WILSHIRE-CAMDEN ASSOCIATES, a California limited partnership
(“Landlord”) and KENNEDY-WILSON INC., a Delaware
corporation (“Tenant”)
RECITALS:
A.
Landlord and Tenant entered into a certain Lease (the
“Lease”) dated as of August 19, 1998, whereby
Landlord leased to Tenant certain premises (the
“Premises”) shown and designated on the floor plan
attached as Exhibit A of the Lease and located on the second
(2nd) floor of the certain building (the “Building”)
known as HEITMAN CENTRE - BEVERLY HILLS (now known as 9601
WILSHIRE) and located at 9601 Wilshire Boulevard, Beverly Hills,
California. The Premises contain approximately 26,057 rentable
square feet.
B.
Landlord and Tenant entered into a certain First Amendment to Lease
(the “First Amendment”) dated March 5,
1999 pursuant to which an additional 937 rentable square feet (the
“Additional Premises”) was added to the Premises and
certain other modifications were made.
C. The
Lease and First Amendment shall be known collectively as the Lease
unless specific reference is made to a specific
document.
D.
Landlord and Tenant desire to amend the Lease to add certain
expansion space to the Premises upon the terms and conditions
hereinafter set forth.
NOW, THEREFORE, in consideration of
the mutual covenants and agreements herein and in the Lease
contained, it is hereby agreed as follows:
1.
DEFINED TERMS . Each capitalized term used as
a defined term in this Second Amendment but not otherwise defined
in this Second Amendment shall have the same meaning ascribed to
such term in the Lease.
2.
ADDITIONAL PREMISES . Landlord hereby leases to Tenant and
Tenant hereby leases from Landlord that certain premises (the
“Second Additional Premises”) consisting of
approximately 822 square feet of rentable area located on the
Garden Level of the Building, as shown on Exhibit A-2 attached
hereto and known as Suite GL-2 1. The Lease is hereby amended
to add the Second Additional Premises to the Premises as demised
and defined in the Lease upon the same terms and provisions
specified in the Lease, except that:
(a)
The Base Rent for the Second
Additional Premises shall be Fifteen Thousand Seven Hundred
Eighty-two and 40/100 ($15,782.40)[an annual rate of $19.20 per
square foot of Rentable Area of the Premises], payable in equal
monthly installments of One Thousand Three Hundred Fifteen and
20/100 ($1,315.20).
(b)
Intentionally omitted.
(c)
The lease term for the Second
Additional Premises shall be for a twelve (12) month term
commencing on June 1, 1999 (the “Second Additional
Premises Commencement Date”), and end on May 31, 2000 as
both may be extended as provided below (the “Second
Additional Premises Lease Term”), unless sooner terminated
as Page 2 of 4 provided in the Lease. Tenant
acknowledges that the Second Additional Premises is currently
occupied by another tenant. In the event that the Second Additional
Premises Commencement Date is delayed, Landlord shall not be habit
for any damages caused thereby, and the Second Additional Premises
Commencement Date shall be extended-a~ possession of the Second
Additional Premises is given to Tenant by Landlord and the Second
Additional Premises Lease Term shall continue for a twelve (12)
month term.
