FOURTH AMENDMENT TO PROPERTY
MANAGEMENT AND SERVICES AGREEMENT
This Fourth Amendment to Property
Management and Services Agreement (“Fourth Amendment”)
is made and entered into as of March 1, 2009 (the “Effective
Date”) by and between Glenborough, LLC, a Delaware limited
liability company (“Glenborough”) and Rancon Realty
Fund V, a California limited partnership
(“Rancon”).
RECITALS
Rancon and Glenborough’s
predecessor in interest Glenborough Properties, L.P. entered into
that certain Property Management and Services Agreement dated July
30, 2004 (the “Original Agreement”), which agreement
has been modified to date by that certain First Amendment to
Property Management and Services Agreement dated as of September
30, 2005 (the “First Amendment”), that certain Second
Amendment to Property Management and Services Agreement dated as of
December 1, 2005 (the “Second Amendment”), and that
certain Third Amendment to Property Management and Services
Agreement, dated as of May 1, 2006 (the “Third
Agreement”). The term “Agreement”, as modified by
this Fourth Amendment, will refer to the Original Agreement as
modified by the First, Second and Third Amendments.
Glenborough Properties, L.P.’s
rights and obligations under the Agreement were assigned to
Glenborough, LLC by way of that certain Assignment dated as of
November 29, 2006.
Glenborough a
