Exhibit 10.99
FOURTH AMENDMENT TO OFFICE
LEASE
This Fourth Amendment to Office
Lease (the “Fourth Amendment”), dated September 11, 2003, is made by and
between BRIGHTON ENTERPRISES, LLC, a California limited liability
company (“Landlord”), with offices at 808 Wilshire
Boulevard, Suite 200, Santa Monica, California 90401, and
KENNEDY-WILSON, INC. a Delaware corporation (“Tenant”),
with offices at 9601 Wilshire Boulevard, Suite 220, Beverly
Hills, California 90210.
WHEREAS,
A.
Wilshire-Camden Associates, a California limited partnership
(“Wilshire-Camden”), Landlord’s
predecessor-in-interest, pursuant to the provisions of that certain
written Office Lease, dated August 19, 1998, as amended by
that certain First Amendment to Lease (Expansion) dated
March 5, 1999, that certain Second Amendment to Lease
(Expansion) dated June 2, 1999, and that certain Termination
Agreement dated October 19, 1999, leased to Tenant, and Tenant
leased from Wilshire- Camden space in the property located at 9601
Wilshire Boulevard, Beverly Hills, California 90210 (the
“Building”), commonly known as Suite 200 (the
entire second floor), and Suite GL- I 5A/GL-9 (the
“Original Premises”);
B.
Pursuant to that certain Third Amendment to Office Lease between
Landlord and Tenant dated December 20, 2002 (the “Third
Amendment” which document together with the documents
described in Recital A above shall be collectively referred to as
the “Lease”), Tenant (i) shall temporarily return
the Construction Area for Landlord to complete certain tenant
improvements within the Construction Area, (ii) surrender
Suite GL-15A/GL-9, (iii) continue to occupy the
Suite 200 Portion until the substantial completion of the
tenant improvements in the Construction Area, (iv) surrender
the Suite 200 Portion upon the substantial completion of the
tenant improvements within the Construction Area, and re-occupy of
the Construction Area subsequently renamed as
Suite 220;
C.
The provisions of the Third Amendment to Lease specify that the
Suite 220 would be re- measured upon substantial completion of
the Suite 220 Improvements, and that the Suite 220
Effective Date shall be the first Monday after the date Landlord
substantially completes the Suite 220 Improvements;
D.
The Improvements for Suite 220 were completed on June 13,
2003;
NOW, THEREFORE, in consideration
of the covenants and provisions
contained herein, and other good and valuable consideration, the
sufficiency of which Landlord and Tenant hereby acknowledge,
Landlord and Tenant agree:
1.
Confirmation of Defined Terms. Unless modified herein, all terms previously
defined and capitalized in the Lease, as amended shall hold the
same meaning for the purposes of this Fourth Amendment.
2.
Confirmation of Usable Area of
Suite 220. As of the Suite 220 Effective Date:
(i)
the revised Usable Area of
Suite 220 is hereby confirmed to be 9,731 square
feet;
(ii)
Tenant’s Percentage Share of
Property Taxes and Operating Expenses is hereby confirmed to be
three point sixty-seven percent (3.67%), derived
