EXHIBIT 10.5(b)
SUBLEASE AMENDMENT
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THIS AGREEMENT, is made this 24th day of July 1997, by and between Imperial
Credit Industries, Inc., a California corporation, ("Sublessor") and Imperial
Credit Mortgage Holdings, Inc., a Maryland corporation, ("Sublessee").
WITNESSETH:
WHEREAS, pursuant to a Sublease dated February 12, 1997, Sublessee entered
into a Sublease with respect to a premises, commonly known as 00000 Xxxxxx
Xxxxxx, Xxxxxxxx "X", Xxxxx Xxx Xxxxxxx, Xxxxxxxxxx.
WHEREAS, the term of the Sublease is presently scheduled to expire on
February 14, 1999.
WHEREAS, the parties desire to provide for an adjustment to the square
footage occupied effective August 1, 1997.
NOW, THEREFORE, the parties agree as follows:
1. LEASED PREMISES. The parties agree that the Sublease area occupied by
Imperial Credit Mortgage Holdings, Inc. is 30,495 rentable square feet.
2. MONTHLY RENT. The parties agree that as of the effective date of this
Sublease Amendment, Sublessee shall pay to Sublessor a monthly rental in the
amount of $35,679.15.
All other terms and conditions of the Master Lease dated January 2, 1992 and the
Sublease dated February 12, 1997 shall remain the same.
SUBLESSOR: SUBLESSEE:
IMPERIAL CREDIT INDUSTRIES, INC. IMPERIAL CREDIT MORTGAGE HOLDINGS, INC.
By: /s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx
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Its: Executive Vice President/COO Its:
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Date: August 12, 1997 Date: July 24, 1997
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