SECOND AMENDMENT TO LEASE
(Towne Centre Plaza)
THIS SECOND AMENDMENT TO LEASE (Second Amendment) is made and entered into as of the 24th day of January, 2013, by and between ARDEN REALTY LIMITED PARTNERSHIP, a Maryland limited partnership (Landlord) and LOAN DEPOT.COM LENDING LLC, a Delaware limited liability company (Tenant).
R E C I T A L S:
A. Landlord and Tenant entered into that certain Standard Office Lease dated as of March 10, 2011 (the Original Lease), as amended by that certain First Amendment to Lease dated as of September 7, 2012, by and between Landlord and Tenant (the First Amendment) whereby Landlord leased to Tenant and Tenant leased from Landlord certain office space located in those certain buildings located and addressed at 26642 and 26672 Town Centre Drive, Foothill Ranch, California. The Original Lease, as amended by the First Amendment, may be referred to herein as the Lease.
B. Tenant has exercised its right of first offer pursuant to Article 32 of the Lease and, consequently, by this Second Amendment, Landlord and Tenant desire to expand the Existing Premises and to otherwise modify the Lease as provided herein.
C. Unless otherwise defined herein, capitalized terms as used herein shall have the same meanings as given thereto in the Lease.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
A G R E E M E N T:
1. The Existing Premises. Landlord and Tenant hereby agree that pursuant to the Lease, Landlord currently leases to Tenant and Tenant currently leases from Landlord a total of 106,299 rentable square feet consisting of (i) 67,694 rentable square feet in the 26642 Building, (ii) 6,515 rentable square feet in Suite 100 of the 26672 Building, (iii) 5,317 rentable square feet in Suite 150 of the 26672 Building, (iv) 23,464 rentable square feet consisting of the entire second (2nd) floor of the 26672 Building, and (v) 3,309 rentable square feet in Suite 310 of the 26672 Building (collectively, the Existing Premises), as outlined on Exhibit A to the Lease and Exhibit A to the First Amendment.
2. Expansion of the Existing Premises. That certain space contained in Suite 125 consisting of the remainder of the first floor of the 26672 Building outlined on the floor plan attached hereto as Exhibit A and made a part hereof, may be referred to herein as the Second Expansion Space. Landlord and Tenant hereby stipulate that the Second Expansion Space contains 9,200 rentable square feet and such square footage is not subject to adjustment or re-measurement by Landlord or Tenant, even if the actual rentable square footage of the Second Expansion Space is more or less than 9,200 rentable square feet. Effective as of the date (Second Expansion Commencement Date) that is the earlier of (a) the date Tenant commences business operations in the Second Expansion Space, and (b) the date which is one hundred fifty (150) days after the date of full execution and delivery of this Second Amendment by Landlord and Tenant, Tenant shall lease from Landlord and Landlord shall lease to Tenant the Second Expansion Space. Accordingly, effective upon the Second Expansion Commencement Date, the Existing Premises shall be increased to include the Second Expansion Space. Landlord and Tenant hereby agree that such addition of the Second Expansion Space to the Existing Premises shall, effective as of the Second Expansion Commencement Date, increase the number of rentable square feet leased by Tenant in the Project to a total of 115,499 rentable square feet. Effective as of the Second Expansion Commencement Date, all references to the Premises shall mean and refer to the Existing Premises as expanded by the Second Expansion Space.