exv10w2



 






EXHIBIT 10.2




Standard Proposal to Lease




	 	 	 	 	 
	Location:

	 	 	 	Rowland Heights, California
	Date:

	 	 	 	May 12, 2005







	1	 	Lessee.          Nara Bank
	 
	 	 	Lessor.          Young Oho
	 
	2.	 	Premises. The Premises which are the subject of this proposal are located in the County of Los
Angeles, State of California, commonly known as 1709 S. Nogales Street, Rowland Heights
#201, and described as approximately 1,036.5 square feet on the
2nd floor (Gross rentable
area of the building is approximately 12,343.5 square feet).
	 
	3.	 	Broker. N/A
	 
	4.	 	Term. The term of the lease shall be thirty-six (36) months and shall begin on May 15, 2005
and shall end on May 14, 2008. Lessee shall be granted two
options of three (3) years each. In order to exercise the
options, tenant shall notify the lessor in writing at least ninety
(90) days prior to the end of the current lease. 
	 
	5.	 	Rent.






	 	6.1	 	Monthly rent during the initial lease term shall be $2,383.95 + NNN payable,
in advance, on the fifteenth (15th) day of each month of the term hereof. Rent shall
be raised by the Consumer Price Index (“C.P.I.”) every year with a minimum of 2% and
a maximum of 4% (e.g., if C.P.I. is 3%, then rent shall by $2,455.47 after one year).
	 
	 	6.2	 	During option period, rental rate shall be equivalent to the last month of
the prior term and adjusted annually by CPI with a minimum of 2% and a maximum of 4%.
	 
	 	6.3	 	On execution of lease, Lessee shall pay to Lessor $3,500.00 representing rent for last
month of term.
	 
	 	6.4	 	if the rent is not paid within 10 days of due date (fifteenth of each
month), five percent (5%) late charge, shall be assessed.






	6.	 	Security Deposit. None.





Total monies due upon execution of Lease (first and last month rent):

$3,039.71 + $3,500.00 = $6,539.71





	7.	 	Agreed Use. The Premises shall be used for office
space.
	 
	8.	 	Possession and Condition of Premises. Lessor warrants that the Premises, without regard to
the purpose for which Lessee will use them, do not violate any covenant or restriction of
record or any applicable governmental requirement. If Lessee is not already in possession, Lessor
shall deliver the Premises on May 15, 2005 broom clean and free of debris with the plumbing,
lighting, heating, ventilating and air conditioning, and loading doors in good operating condition,
Subject to the preceding two sentences,, Lessee accepts the Premises in an “AS IS” condition and in
its present condition.
	 
	9.	 	Maintenance and Repairs. The foundations, exterior walls, and exterior roof shall be
maintained by Landlord and Premises shall be maintained by Lessee. Lessee shall repair and maintain all
other parts of the Premises.
	 
	10.	 	Insurance.














 












	 	11.1	 	Property Insurance (i.e., all perils included within the classification of
fire and extended coverage, vandalism, and malicious mischief —
see paragraph 11.3
for a more detailed description) shall be paid for by Lessor.
	 
	11.2	 	Liability insurance naming Lessee and Lessor as co-insured or
“additional insured” shall be paid by Lessee.
	 
	11.3	 	Property insurance — Building and improvements.






	 	(a)	 	Building and Improvements. Lessor shall obtain and keep in force a policy or
policies of insurance in the name of Lessor, with toss payable to Lessor, any ground-lessor, and to
any Lender insuring loss or damage to the Premises. The amount of such insurance shall
be equal to the full replacement cost of the Premises, as the same shall exist from time to
time, or the amount required by any Lender, but in no event more than the commercially
reasonable and available insurable value thereof. Lessee Owned Alterations
and Utility installations, Trade Fixtures, and Lessee’s personal property shall be
insured by Lessee.
If the coverage is available and commercially appropriate, such policy or
policies shall
insure against all risks of direct physical loss or damage (except
the perils
of flood and/or
earthquake unless required by a Lender), including coverage for debris
removal and the
enforcement of any Applicable Requirements requiring the upgrading,
demolition,
reconstruction or replacement of any portion of the Premises as the result of
a covered
loss. Said policy or policies shall also contain an agreed valuation
provision in lieu of any
coinsurance clause, waiver of subrogation, and inflation guard protection
causing an
increase in the annual property insurance coverage amount by a factor of not
less than
the adjusted U.S. Department of Labor Consumer Price Index for All Urban
Consumers for
the city nearest to where the Premises are located. If such insurance
coverage has a
deductible clause, the deductible amount, shall not exceed $1,000 per
occurrence.
	 
	 	(b)	 	Lessee’s improvements. Since Lessor is the Insuring Party, Lessor
shall not be required to insure Lessee Owned Alterations and Utility Installations unless the item in
question has
become the property of Lessor under the terms of this Lease.
	 






	11.	 	Proportion and Share of Expenses. Lessee shall pay its proportionate share of 8.40% of
the operating expenses, including, real property taxes, insurance, maintenance, and security
costs.
	 
	12.	 	Assignment & Subletting. Lessee shall not voluntarily or by operation of law assign,
transfer, mortgage or encumber or sublet all or any part of Lessee’s interest in this Lease or in the
Premises without Lessor’s written consent, which consent shall not be reasonably withheld.
Lessee may assign or sublet the Premises, or any portion thereof, without Lessor’s consent,
or any corporation which controls, is controlled by or is under common control with Lessee, or
to any corporation resulting from the merger or consolidation with Lessee, or to any person or
entity which acquires all the assets of Lessee as a going concern of the business that is being
conducted on the Premises provided that before such assignment shall be effective, (a) said
assignee shall assume, in full, the obligations of Lessee under this Leases and (b) Lessor
shall be given written notice of such assignment and assumption.
	 
	13.	 	No Broker Representations. Lessor and Lessee acknowledge that Broker has made no
representations or warranties regarding the physical condition of the Premises, or its
suitability for Lessee’s intended, use, and that neither Party has made any representations or warranties to
the other (except as expressly set forth in this proposal) and that Lessor and Lessee are
relying upon their own independent investigations in making or
accepting this offer.
	 
	14.	 	Attorneys’ Fees. Should litigation arise between Lessor and Lessee, the prevailing party
shall be entitled to reasonable attorneys’ fees.
	 
	15.	 	Addendum. Any Addendum attached hereto is hereby incorporated in this proposal by this
reference.





	 	 	 	 	 	 	 
	 

	 	Addendum attached:
	 	o Yes (Paragraphs                    through                    )
	 
	 

	 	 	 	 	 	o No





LESSEE HAS READ, AND FULLY UNDERSTANDS THE FOREGOING AND ACKNOWLEDGES RECEIPT OF A
COPY HEREOF.




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THIS
PROPOSAL IS NOT BINDING ON EITHER PARTY. IT IS INSTEAD INTENDED TO FACILITATE
NEGOTIATIONS BETWEEN THE PARTIES. THE PARTIES SHALL NOT BE OBLIGATED TO LEASE THE PREMISES
UNTIL BOTH HAVE SIGNED A MUTUALLY AGREEABLE LEASE AGREEMENT.



ATTENTION:
NO REPRESENTATION OR RECOMMENDATION IS MADE BY THE AIR COMMERCIAL REAL ESTATE
ASSOCIATION OR BY ANY REAL ESTATE BROKER AS TO THE LEGAL SUFFICIENCY, LEGAL EFFECT, OR TAX
CONSEQUENCES OF THIS PROPOSAL OR THE TRANSACTION TO WHICH IT RELATES. THE PARTIES ARE URGED TO
SEEK ADVICE OF COUNSEL AS TO THE LEGAL AND TAX CONSEQUENCES OF THIS TRANSACTION.




	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	LESSEE:	 	 
	 
	 	 	 	 	 	 	 	 
	DATED:
	 	6/22/05	 	 	 	Timothy Chang	 	 
	 

	 	 

	 	 	 	 

	 	 
	 

	 	 	 	 	 	By /s/ Timothy Chang
	 	 
	 
	 

	 	 	 	 	 	 

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	16.	 	Lessor’s Acceptance. Lessor accepts the foregoing proposal to Lease the Premises and
authorizes Broker to communicate to Lessee Lessor’s acceptance hereof and to deliver an
executed copy of this Agreement to Lessee.





	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	LESSOR:	 	 
	 
	 	 	 	 	 	 	 	 
	DATED:
	 	 	 	 	 	Young H. Cho
	 	 
	 

	 	 

	 	 	 	 

	 	 
	 

	 	 	 	 	 	By /s/ Young H. Cho
	 	 
	 
	 

	 	 	 	 	 	 

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