Exhibit 10 Y


 


LEASE SUPPLEMENT


 


	
  DATE:

  	
   

  	
  May 28, 2003

  
	
   

  	
   

  	
   

  
	
  PARTIES:

  	
   

  	
  CITINATIONAL BUCKEYE BUILDING CO. (“Landlord”)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CITY NATIONAL BANK (“Tenant”)

  
	
   

  	
   

  	
   

  
	
  BACKGROUND:

  	
   

  	
  Landlord has heretofore leased to Tenant, the Ground Floor and floors
  2, 3, 4, 5, 6, 9, 10, 11, 20 and 21 in the building commonly known as 606
  South Olive Street, Los Angeles, California (the “Building”) pursuant to
  leases described on Exhibit “A” annexed hereto (the “Leases”).

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Landlord has entered into an agreement to sell the Building to Moses
  Hanasab, Yehouda Hanasab and Haroon Hanasab (collectively, the “Buyer”)
  pursuant to a Real Property Purchase Agreement dated March 19, 2003, as
  supplemented by a Supplemental Agreement and Escrow Instructions dated May
  14, 2003 (collectively, the “Purchase Agreement”).

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  One of the conditions to closing the Purchase Agreement is that the
  Leases be modified in certain particulars. 
  Landlord has requested Tenant, and Tenant, for good and valuable
  consideration has agreed, to modify the Leases in those particulars.

  



 


Accordingly, Landlord and Tenant hereby agree to modify the Leases as
follows:


 


1.                                       The
foregoing background information is hereby incorporated herein as if herein set
forth verbatim.


 


2.                                       Landlord
and Tenant hereby modify the Leases as follows:


 


A.                                   Tenant’s rights to
cancel the Leases prior to their respective expiration dates are hereby
terminated and waived, and, except as extended below, the Leases shall remain
in full force and effect for their full terms as set forth on Exhibit “A”.


 


B.                                     The Lease dated as
of September 30, 1996, as amended, for the ground floor portion of the
Building now occupied by Tenant commonly known as Suite 100 is extended to
December 31, 2011.  That Lease
shall expire pursuant to its terms on December 31, 2006 with respect to
floors 2, 3, 4, 6, 9, 10, 20 and 21 of the Building.


 


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From and after January 1, 2007, the rent for the ground floor
portion of the Building under the extended lease shall be $16,628.00 per month,
and Tenant’s share of any increase in Property Taxes and Operating Costs under
Paragraph 20 of the extended ground floor lease shall be 3.10%.


 


C.                                     The Lease dated as
of August 1, 2000, as amended, for the entire fifth floor of the Building
now occupied by Tenant is extended to November 10, 2009.  From and after January 1, 2007, the
rent for the fifth floor of the Building occupied by Tenant shall be $19,500.00
per month, and Tenant’s share of any increase in Property Taxes and Operating
Costs under Paragraph 20 of the Lease shall be 5.11%.


 


D.                                    The Lease dated as
of November 1, 2002 for 9696 square feet of space on the eleventh floor of
the Building now occupied by Tenant is extended to November 10, 2009.  From and after January 1, 2007, the rent
for the eleventh floor of the Building occupied by Tenant shall be $16,968.00
per month, and Tenant’s share of any increase in Property Taxes and Operating
Costs under Paragraph 20 of the Lease shall be 3.44%.


 


E.                                      All of the
foregoing extensions shall be on the same terms and conditions of Tenant’s
existing leases for the space in question, except:


 


(i)                                     Tenant shall have
the right to sublease any such leased space without the consent of Buyer or its
successor owners so long as the sublessee shall utilize the subleased space for
a purpose generally consistent with usage in other first class downtown Los
Angeles multi-story office buildings, and so long as such sublessee is not an
existing tenant of the Building.  In addition,
there shall be no sublease to a consulate or a tenant that will add to utility,
maintenance, security or other building costs above those of a normal office
tenant.  There shall be no restaurant or
club on the ground floor of the Building;


 


(ii)                                  Tenant shall be
entitled to maintain its roof top identification sign as long as it remains the
responsible (as contrasted to occupying) party under its leases for the ground
floor, fifth floor and eleventh floor space in the Building;


 


(iii)                               The right to maintain
such roof top sign shall pass to any successor subtenant of Tenant for entire
of such ground floor, fifth floor and eleventh floor space; and


 


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(iv)                              Sixty (60) days prior to
November 10, 2009, Tenant must either extend the maturity date of both the
fifth floor and the eleventh floor leases to November 10, 2010, or extend
one of the leases to November 10, 2011, in which event the other lease
shall expire on November 10, 2009. 
If Tenant fails to make such election, it shall be deemed to have
elected to extend both the fifth floor and eleventh floor leases to
November 10, 2010.  No lease
extension will be provided for any other portion of the Tenant’s currently
leased premises in the Property.


 


3.                                       Except
as herein provided, the Leases remain unamended and in full force and effect.


 


	
   

  	
  CITINATIONAL BUCKEYE BUILDING CO.,

  
	
   

  	
  a California limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Citinational Bancorporation

  one of its general partners

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Frank Pekny

  	
   

  
	
   

  	
   

  	
   

  	
  Frank Pekny

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Olive-Sixth Buckeye Co.

  one of its general partners

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Bram Goldsmith

  	
   

  
	
   

  	
   

  	
   

  	
  Bram Goldsmith

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CITY NATIONAL BANK

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Frank Pekny

  	
   

  
	
   

  	
  Its:

  	
  VC & CFO

  	
   

  
							



 


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EXHIBIT “A”


 


	
  SPACE LEASED

  	
   

  	
  DATE OF LEASE

  (and any prior amendments)

  	
   

  	
  TERM EXPIRES

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Ground, 2nd, 3rd, 4th, 6th, 9th, 10th, 20th and 21st floors

  	
   

  	
  9/30/96, amended 5/1/98, 11/13/98 and 11/1/02

  	
   

  	
  December 31, 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5th floor

  	
   

  	
  8/1/2000, amended 11/1/02

  	
   

  	
  December 31, 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Part of 11th floor

  	
   

  	
  11/1/02

  	
   

  	
  December 31, 2006

  



 


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