Amendment to Sublease dated July 8, 2003



 Exhibit 10.13 
  
 FIRST AMENDMENT TO SUBLEASE 
  

This FIRST AMENDMENT TO SUBLEASE (this “Amendment”) is made and entered into as of the 8th day of July, 2003, by and between PACIFIC INCOME
ADVISORS, INC., a Delaware corporation (“Sublandlord”), and ANWORTH MORTGAGE ASSET CORPORATION, a Maryland corporation (“Subtenant”). 
  
 R E C I T A L S : 
  
 A.    Sublandlord is the tenant under that certain Wilshire Palisades Building Office Lease dated as of April 30, 1987 (the
“Office Lease”) (as amended, the “Master Lease”), by and between Tele/TAC Associates, predecessor-in-interest to EOP-WILSHIRE PALISADES, L.L.C., a Delaware limited liability company (“Landlord”), and Sublandlord as
tenant, concerning space located on the second (2nd) floor, as more particularly described in the Lease (the
“Premises”), of that certain office building located at 1299 Ocean Avenue, Santa Monica, California (the “Building”). 
  
 B.    Sublandlord and Subtenant entered into that certain Sublease, dated June 13, 2002 (the “Sublease”) for that certain
space consisting of approximately 5,500 rentable square feet located on the second (2nd) floor of the Building as
more particularly described in the Sublease (the “Subleased Premises”). 
  
 C.    Sublandlord and Subtenant desire to amend the Sublease as hereinafter provided. 
  
 A G R E E M E N T : 
  
 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 is hereby acknowledged, the parties hereby agree as follows. 
  
 1.    Capitalized Terms.    All capitalized terms when used herein shall have the same meaning as is given such terms in the Sublease unless expressly superseded
by the terms of this Amendment. 
  
 2.    Rent.    Sublandlord and Subtenant hereby acknowledge and agree that pursuant to the terms of Section 6 of the Office Lease, as amended, Sublandlord is obligated to pay
to Landlord its Percentage Share of Operating Expenses and real property taxes (as those terms are defined in the Office Lease), in excess of the Operating Expenses and real property taxes incurred during the Base Year (as that term is defined in
the Office Lease). Notwithstanding anything to the contrary contained in the Sublease, effective retroactively as of January 1, 2003, and continuing throughout the term of the Sublease, Subtenant shall, within ten (10) days following receipt of
written demand from Sublandlord, reimburse Sublandlord for that portion of Sublandlord’s Operating Expenses and real property taxes which relate to the Subleased 







 Premises. Upon receipt of written request from Subtenant, Sublandlord shall forward to Subtenant any documentation
received by Sublandlord from Landlord evidencing the calculation of such expenses. 
  
 3.    No Further Modification.    Except as specifically set forth in this Amendment, all of the terms and provisions of the Sublease, as amended, shall remain
unmodified and in full force and effect. In the event of any conflict between the terms and conditions of the Sublease and the terms and conditions of this Amendment, the terms and conditions of this Amendment shall prevail. 
  
 IN WITNESS WHEREOF, Sublandlord and Subtenant have caused this Amendment to
be executed on the day and date first above written. 
  
 “SUBLANDLORD”: 
  
 PACIFIC
INCOME ADVISORS, INC., 
 a Delaware corporation 
  
 By:     /s/  Heather U.
Baines                  
  
        Its:
    President                               
  
  
 “SUBTENANT”: 
  
 ANWORTH MORTGAGE ASSET CORPORATION, 
 a Maryland corporation 
  
 By:     /s/  Thad M.
Brown                  
  
        Its:     Chief Financial Officer     
  
  
  

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