AMENDMENT TO LEASE DATE CHANGE
Exhibit
10.13
AMENDMENT
TO LEASE
DATE
CHANGE
THIS
AMENDMENT is dated for reference purposes only at Newport Beach, California,
this 23rd
day of
February, 2005, by and between XXXX COMMERCIAL REALTY CORP., A NEVADA
CORPORATION, as “Landlord”, and PACIFIC COAST NATIONAL BANCORP, A CALIFORNIA
CORPORATION, as Tenant” for property located at 000 Xxxxx Xxxxxxxx, Xxxxx 000,
Xxx Xxxxxxxx, XX 00000. Landlord and Tenant, being Parties to a Lease dated
July
15, 2004, hereby express their mutual desire and intent to amend the Term of
the
Lease as follows:
The
term
of this Lease shall be for: Approximately
ten (10) years.
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A.
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Original
Commencement date was: Ninety
(90) days after Landlord’s notice to Tenant of substantial completion and
final inspection of Tenant Improvements by the City of San
Clemente.
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B.
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Revised
Commencement date is: May
24, 2005.
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C.
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Lease
Expiration date is: May
31, 2015.
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ADDENDUM
A, ITEM 5, EARLY POSSESSION AGREEMENT:
Landlord agrees to grant Tenant rent-free Early Possession of said Premises,
the
date to be February 24, 2005. Lease payments shall not commence May 24, 2005.
Tenant agrees to hold Landlord harmless from any liability or responsibility
for
damages to any of Tenant’s personal property, or for any loss suffered by Tenant
through vandalism, theft, or destruction of said personal property by fire
or
other causes. It is agreed by Tenant and Landlord that all the terms and
conditions of the Lease are to be in full force and effect, except as to rent,
as of the date of Tenant’s possession of subject Premises.
ADDENDUM
C, ANNUAL RENT ADJUSTMENT:
The
minimum Base Monthly Rent set forth in Article 2.h. of this Lease shall be
adjusted as follows:
Beginning
on June 1, 2006 through May 31, 2007 the minimum Base Monthly Rent shall be
$14,570.00*.
Beginning
on June 1, 2007 through May 31, 2008 the minimum Base Monthly Rent shall be
$14,934.25*.
Beginning
on June 1, 2008 through May 31, 2009 the minimum Base Monthly Rent shall be
$15,298.50*.
Beginning
on June 1, 2009 through May 31, 2010 the minimum Base Monthly Rent shall be
$15,662.75*.
Beginning
on June 1, 2010 through May 31, 2011 the minimum Base Monthly Rent shall be
$16,027.00*.
Beginning
on June 1, 2011 through May 31, 2012 the minimum Base Monthly Rent shall be
$16,391.25*.
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_______________
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/s/
r
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Landlord’s
Initials
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Tenant’s
Initials
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AMENDMENT
TO LEASE DATE CHANGE
February
23, 2005
Page
2 of
2
Beginning
on June 1, 2012 through May 31, 2013 the minimum Base Monthly Rent shall be
$16,755.50*.
Beginning
on June 1, 2013 through May 31, 2014 the minimum Base Monthly Rent shall be
$17,119.75*.
Beginning
on June 1, 2014 through May 31, 2015 the minimum Base Monthly Rent shall be
$17,484.00*.
| *Note |
The
Security Deposit shall remain equal to the first month’s rent for the term
of the Lease, pursuant to Article 7
herein.
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Except
as
modified herein, all other terms and conditions of the Lease between the Parties
above described, and attached hereto, shall continue in full force and
effect.
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LANDLORD:
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TENANT:
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XXXX
COMMERCIAL REALTY CORP.
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A
CALIFORNIA CORPORATION
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By:_____________________________
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By:
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/s/
Xxxxxxx X. Xxxx
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Name:
Xxxxxx Xxxxxxxxx
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Name:
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Xxxxxxx
X. Xxxx
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Title:
Vice President
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Title:
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President
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Date:____________________________
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Date:
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2/24/2005
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By:
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/s/
X. X. Xxxxxxx
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Name:
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X.
X. Xxxxxxx
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Title:
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Secretary
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Date:
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2/24/2005
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