Document:

Exh 10.10 1/5/2006 Cerritos I Guaranty

    
      

    

    Exhibit
      10.10

    
 

    GUARANTY

     

    THIS
      GUARANTY (“Guaranty”)
      is
      executed as of January 5, 2006
      by
Maguire
      Macquarie Office, LLC,
      a
      Delaware limited liability company (“Guarantor”),
      for
      the benefit of LaSalle
      Bank National Association,
      a
      national banking association, its successors and assigns (“Lender”).

     

    A. Maguire
      Macquarie - Cerritos I, LLC,
      a Delaware limited
      liability company
      (“Borrower”)
      is
      indebted to Lender with respect to a loan (the “Loan”)
      pursuant to that certain Promissory Note dated of even date herewith, payable
      to
      the order of Lender in the original principal amount of $95,000,000.00
      (together with all renewals, modifications, increases and extensions thereof,
      the “Note”),
      which
      is secured by the liens and security interests of a Leasehold Deed
      of
      Trust,
      Security Agreement and Fixture Filing, of even date herewith (the “Deed
      of Trust”),
      and
      further evidenced, secured or governed by the other Loan Documents (as defined
      in the Note). Capitalized terms used in this Guaranty and not otherwise defined
      shall have the meanings assigned in the Deed
      of
      Trust.

     

    B. Lender
      is
      not willing to make the Loan, or otherwise extend credit, to Borrower unless
      Guarantor unconditionally guarantees payment and performance to Lender of the
      Guaranteed Obligations (as herein defined).

     

    C. Guarantor
      is the owner of a direct or indirect interest in Borrower, and Guarantor will
      directly benefit from Lender’s making the Loan to Borrower.

     

    NOW,
      THEREFORE, as an inducement to Lender to make the Loan to Borrower thereunder,
      and to extend such additional credit as Lender may from time to time agree
      to
      extend under the Loan Documents, and for other good and valuable consideration,
      the receipt and legal sufficiency of which are hereby acknowledged, the parties
      do hereby agree as follows:

     

    ARTICLE
      1 

     

    NATURE
      AND SCOPE OF GUARANTY

     

    1.1 Guaranty
      of Obligations.
      Guarantor hereby irrevocably and unconditionally guarantees to Lender (and
      its
      successors and assigns), jointly and severally, the payment and performance
      of
      the Guaranteed Obligations as and when the same shall be due and payable,
      whether by lapse of time, by acceleration of maturity or otherwise. Guarantor
      hereby irrevocably and unconditionally covenants and agrees that it is liable,
      jointly and severally, for the Guaranteed Obligations as a primary obligor,
      and
      that each Guarantor shall fully perform, jointly and severally, each and every
      term and provision hereof.

     

    1.2 Definition
      of Guaranteed Obligations.
      As used
      herein, the term “Guaranteed
      Obligations”
      shall
      mean the unpaid balance of the Loan (as defined in the Note) in the event of
      (a)
      Borrower’s failure to make the first full monthly payment of principal and
      interest due under the Note, (b) a breach of the terms of Paragraphs 15 or
      16

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    of
      the
Deed
      of
      Trust
      or (c)
      the voluntary filing by Borrower, or the filing against Borrower by any
      Guarantor or any affiliate of any Guarantor, or an involuntary bankruptcy filing
      against Borrower in which Borrower or Guarantor acts in collusion with the
      filing party with respect to the filing, of any proceeding for relief under
      any
      federal or state bankruptcy, insolvency or receivership laws or any assignment
      for the benefit of creditors made by Borrower. In addition, the Guaranteed
      Obligations shall also include and Guarantor shall also be liable for, and
      shall
      indemnify, defend and hold Lender harmless from and against, any and all actual
      loss, liability, damage, cost, expense, claim or other obligation (including
      without limitation reasonable attorney’s fees and costs of defense) incurred or
      suffered by Lender and arising out of or in connection with the matters listed
      in subparagraphs (i) through (v) immediately below:

     

    (i) any
      physical waste of the Property caused by act(s) or omission(s) of Borrower,
      its
      agents, affiliates, officers and employees; or the removal or disposal of any
      portion of the Property after an Event of Default under the Loan Documents
      to
      the extent such Property is not replaced by Borrower with like property of
      equivalent value, function and design;

     

    (ii) the
      misapplication, misappropriation or conversion of: (A) any rents, security
      deposits, proceeds or other funds; (B) any insurance proceeds paid by reason
      of
      any loss, damage or destruction to the Property and not used by Borrower for
      restoration or repair of the Property when and as permitted by the Loan
      Documents; and/or (C) any awards or amounts received in connection with the
      condemnation of all or any portion of the Property and not used by Borrower
      for
      restoration or repair of the Property when and as permitted by the Loan
      Documents;

     

    (iii) Borrower’s
      failure to deliver any security deposits collected with respect to the Property
      to Lender or any other party entitled to receive such security deposits under
      the Loan Documents following an Event of Default; and any rents (including
      advanced or prepaid rents), issues, profits, accounts or other amounts generated
      by or related to the Property attributable to, or accruing after an Event of
      Default, which amounts were collected by Borrower or any other party on its
      behalf or for its benefit and not turned over to the Lender or used to pay
      unaffiliated third parties for reasonable and customary operating expenses
      and
      capital expenditures for the Property, taxes and insurance premiums with respect
      to the Property or any other amounts required to be paid under the Loan
      Documents with respect to the Property;

     

    (iv) the
      breach of the obligations set forth in that certain Hazardous Substances
      Indemnification Agreement from Borrower and Guarantor to Lender of even date
      herewith, as hereinafter amended, if at all; and/or

     

     

    
      
        
        

      

      
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    (v) any
      fraud, willful misconduct or material misrepresentation by Borrower or any
      Guarantor in connection with the Loan.

     

    1.3 Nature
      of Guaranty.
      This
      Guaranty is an irrevocable, absolute, continuing guaranty of payment and
      performance, is joint and several and is not a guaranty of collection. This
      Guaranty may not be revoked by Guarantor and shall continue to be effective
      with
      respect to any Guaranteed Obligations arising or created after any attempted
      revocation by Guarantor and after (if Guarantor is a natural person) Guarantor’s
      death (in which event this Guaranty shall be binding upon Guarantor’s estate and
      Guarantor’s legal representatives and heirs). The fact that at any time or from
      time to time the Guaranteed Obligations may be increased or reduced shall not
      release or discharge the obligation of Guarantor to Lender with respect to
      Guaranteed Obligations. This Guaranty may be enforced by Lender and any
      subsequent holder of the Note and shall not be discharged by the assignment
      or
      negotiation of all or part of the Note.

     

    1.4 Guaranteed
      Obligations Not Reduced by Offset.
      The
      Guaranteed Obligations and the liabilities and obligations of Guarantor to
      Lender hereunder, shall not be reduced, discharged or released because or by
      reason of any existing or future offset, claim or defense of Borrower, or any
      other party, against Lender or against payment of the Guaranteed Obligations,
      whether such offset, claim or defense arises in connection with the Guaranteed
      Obligations (or the transactions creating the Guaranteed Obligations) or
      otherwise.

     

    1.5 Payment
      by Guarantor.
      If all
      or any part of the Guaranteed Obligations shall not be punctually paid when
      due,
      whether at maturity or earlier by acceleration or otherwise, Guarantor shall,
      immediately upon demand by Lender, and without presentment, protest, notice
      of
      protest, notice of non-payment, notice of intention to accelerate the maturity,
      notice of acceleration of the maturity, or any other notice whatsoever, pay
      in
      lawful money of the United States of America, the amount due on the Guaranteed
      Obligations to Lender at Lender’s address as set forth herein. Such demand(s)
      may be made at any time coincident with or after the time for payment of all
      or
      part of the Guaranteed Obligations, and may be made from time to time with
      respect to the same or different items of Guaranteed Obligations. Such demand
      shall be deemed made, given and received in accordance with the notice
      provisions hereof.

     

    1.6 No
      Duty to Pursue Others.
      It
      shall not be necessary for Lender (and Guarantor hereby waives any rights which
      Guarantor may have to require Lender), in order to enforce such payment by
      Guarantor, first to (a) institute suit or exhaust its remedies against Borrower
      or others liable on the Loan or the Guaranteed Obligations or any other person,
      (b) enforce or exhaust any of Lender’s rights or remedies against any collateral
      which shall ever have been given to secure the Loan, (c) enforce Lender’s rights
      or remedies available to Lender against any other guarantors of the Guaranteed
      Obligations, (d) join Borrower or any others liable on the Guaranteed
      Obligations in any action seeking to enforce this Guaranty, or (e) resort to
      any
      other means of obtaining payment of the Guaranteed Obligations. Lender shall
      not
      be required to mitigate damages or take any other action to reduce, collect
      or
      enforce the Guaranteed Obligations.

     

     

    
      
        
        

      

      
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    1.7 Waivers.
      Guarantor agrees to the provisions of the Loan Documents, and hereby waives
      notice of (a) any loans or advances made by Lender to Borrower,
      (b) acceptance of this Guaranty, (c) any amendment or extension of the Note
      or of any other Loan Documents, (d) the execution and delivery by Borrower
      and
      Lender of any other loan or credit agreement or of Borrower’s execution and
      delivery of any promissory notes or other documents arising under the Loan
      Documents or in connection with the Property, (e) the occurrence of any breach
      by Borrower or default, (f) Lender’s transfer or disposition of the Guaranteed
      Obligations, or any part thereof, (g) sale or foreclosure (or posting or
      advertising for sale or foreclosure) of any collateral for the Guaranteed
      Obligations, (h) protest, proof of non-payment or default by Borrower, or (i)
      any other action at any time taken or omitted by Lender, and, generally, all
      demands and notices of every kind in connection with this Guaranty, the Loan
      Documents, any documents or agreements evidencing, securing or relating to
      any
      of the Guaranteed Obligations and the obligations hereby
      guaranteed.

     

    1.8 Payment
      of Expenses.
      In the
      event that Guarantor should breach or fail to timely perform any provisions
      of
      this Guaranty, Guarantor shall, immediately upon demand by Lender, pay Lender
      all costs and expenses (including court costs and reasonable attorneys’ fees)
      incurred by Lender in the enforcement hereof or the preservation of Lender’s
      rights hereunder. The covenant contained in this paragraph shall survive the
      payment and performance of the Guaranteed Obligations.

     

    1.9 Effect
      of Bankruptcy.
      In the
      event that, pursuant to any insolvency, bankruptcy, reorganization, receivership
      or other debtor relief law, or any judgment, order or decision thereunder,
      Lender must rescind or restore any payment, or any part thereof, received by
      Lender in satisfaction of the Guaranteed Obligations, as set forth herein,
      any
      prior release or discharge from the terms of this Guaranty given to Guarantor
      by
      Lender shall be without effect, and this Guaranty shall remain in full force
      and
      effect. It is the intention of Borrower and Guarantor that Guarantor’s
      obligations hereunder shall not be discharged except by Guarantor’s performance
      of such obligations and then only to the extent of such
      performance.

     

    1.10 Deferment
      of Rights of Subrogation, Reimbursement and
      Contribution.

     

    (a) Notwithstanding
      any payment or payments made by any Guarantor hereunder, no Guarantor will
      assert or exercise any right of Lender or of such Guarantor against Borrower
      to
      recover the amount of any payment made by such Guarantor to Lender by way of
      subrogation, reimbursement, contribution, indemnity, or otherwise arising by
      contract or operation of law, and such Guarantor shall not have any right of
      recourse to or any claim against assets or property of Borrower, whether or
      not
      the obligations of Borrower have been satisfied, all of such rights being herein
      expressly waived by such Guarantor (but subject to the provisions of
Subparagraph
      1.10(b)).
      Each
      Guarantor agrees not to seek contribution or indemnity or other recourse from
      any other guarantor. If any amount shall nevertheless be paid to a Guarantor
      by
      Borrower or another Guarantor prior to payment in full of the Obligations
      (hereinafter defined), such 

     

    
      
        
        

      

      
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    amount
      shall be held in trust for the benefit of Lender and shall forthwith be paid
      to
      Lender to be credited and applied to the Obligations, whether matured or
      unmatured. The provisions of this paragraph shall survive the termination of
      this Guaranty, and any satisfaction and discharge of Borrower by virtue of
      any
      payment, court order or any applicable law.

     

    (b) Notwithstanding
      the provisions of Subparagraph 1.10(a),
      each
      Guarantor shall have and be entitled to (i) all rights of subrogation otherwise
      provided by applicable law in respect of any payment it may make or be obligated
      to make under this Guaranty and (ii) all claims it would have against Borrower
      in the absence of Subparagraph 1.10(a)
      and to
      assert and enforce same, in each case on and after, but at no time prior to,
      the
      date (the “Subrogation
      Trigger Date”)
      which
      is ninety-one (91) days after the date on which all sums owed to Lender under
      the Loan Documents (the “Obligations”)
      have
      been paid in full, if and only if (x) no Event of Default of the type described
      in Paragraph
      20(f)
      of the
Deed
      of
      Trust
      with
      respect to any other Guarantor has existed at any time on and after the date
      of
      this Guaranty to and including the Subrogation Trigger Date and (y) the
      existence of each Guarantor’s rights under this Subparagraph 1.10(b)
      would
      not make such Guarantor a creditor (as defined in the Code, as such term is
      hereinafter defined) of Borrower or any other Guarantor in any insolvency,
      bankruptcy, reorganization or similar proceeding commenced on or prior to the
      Subrogation Trigger Date.

     

    1.11 Bankruptcy
      Code Waiver.
      It is
      the intention of the parties that Guarantor shall not be deemed to be a
“creditor” or “creditors” (as defined in Section 101 of the Bankruptcy
      Code) of Borrower, or any such guarantor, by reason of the existence of this
      Guaranty, in the event that Borrower or any such guarantor, becomes a debtor
      in
      any proceeding under the Bankruptcy Code, and in connection herewith, Guarantor
      hereby waives any such right as a “creditor” under the Bankruptcy Code. This
      waiver is given to induce Lender to make the Loan evidenced by the Note to
      Borrower. After the Loan is paid in full and there shall be no obligations
      or
      liabilities under this Guaranty outstanding, this waiver shall be deemed to
      be
      terminated.

     

    1.12 “Borrower.”
The
      term “Borrower”
      as used
      herein shall include any new or successor corporation, association, partnership
      (general or limited), joint venture, trust or other individual or organization
      formed as a result of any merger, reorganization, sale, transfer, devise, gift
      or bequest of Borrower or any interest in Borrower.

     

    1.13 Additional
      Waivers.
      Without
      limiting the generality, scope or meaning of any of the foregoing or any other
      provision of this Guaranty, to the extent it is determined that California
      law
      is applicable to this Guaranty: 

     

    (a) Guarantor
      hereby waives any and all benefits and defenses under California Civil Code
      Section 2810 and agrees that by doing so Guarantor shall be liable even if
      Borrower had no liability at the time of execution of the Note, the Deed of
      Trust or any other Loan Document, or thereafter ceases to be liable. Guarantor
      hereby waives any and all benefits and defenses under California Civil 

     

    
      
        
        

      

      
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    Code
      Section 2809 and agrees that by doing so Guarantor’s liability may be larger in
      amount and more burdensome than that of Borrower. Guarantor waives all rights
      to
      require Lender to pursue any other remedy it may have against Borrower, or
      any
      member of Borrower, including any and all benefits under California Civil Code
      Section 2845, 2849 and 2850. Guarantor further waives any rights, defenses
      and
      benefits that may be derived from Sections 2787 to 2855, inclusive, of the
      California Civil Code or comparable provisions of the laws of any other
      jurisdiction and further waives all other suretyship defenses Guarantor would
      otherwise have under the laws of California or any other
      jurisdiction.

     

    (b) Upon
      a
      default by Borrower, Lender in its sole discretion, without prior notice to
      or
      consent of Guarantor, may elect to: (i) foreclose either judicially or
      nonjudicially against any real or personal property security it may hold for
      the
      Loan, (ii) accept a transfer of any such security in lieu of foreclosure, (iii)
      compromise or adjust the Loan or any part of it or make any other accommodation
      with Borrower or any Guarantor, or (iv) exercise any other remedy against
      Borrower or any security. No such action by Lender shall release or limit the
      liability of Guarantor, who shall remain liable under this Guaranty after the
      action, even if the effect of the action is to deprive Guarantor of any
      subrogation rights, rights of indemnity, or other rights to collect
      reimbursement from Borrower for any sums paid to Lender, whether contractual
      or
      arising by operation of law or otherwise. Guarantor expressly agrees that under
      no circumstances shall it be deemed to have any right, title, interest or claim
      in or to any real or personal property to be held by Lender or any third party
      after any foreclosure or transfer in lieu of foreclosure of any security for
      the
      Loan.

     

    (c) Regardless
      of whether Guarantor may have made any payments to Lender, Guarantor hereby
      waives: (i) all rights of subrogation, indemnification, contribution and any
      other rights to collect reimbursement from Borrower or any other party for
      any
      sums paid to Lender, whether contractual or arising by operation of law
      (including the United States Bankruptcy Code or any successor or similar
      statute) or otherwise, (ii) all rights to enforce any remedy that Lender may
      have against Borrower, and (iii) all rights to participate in any security
      now
      or later to be held by Lender for the Loan. The waivers given in this subsection
      (c) shall be effective until the Loan has been paid and performed in
      full.

     

    (d) Guarantor
      waives all rights and defenses arising out of an election of remedies by Lender,
      even though that election of remedies, such as a nonjudicial foreclosure with
      respect to security for a guarantied obligation, has destroyed Guarantor’s
      rights of subrogation and reimbursement against Borrower by operation of Section
      580d of the California Code of Civil Procedure or otherwise. Guarantor further
      waives any right to a fair value hearing under California Code of Civil
      Procedure Section 580a, or any other similar law, to determine the size of
      any
      deficiency owing (for which any Guarantor would be liable hereunder) following
      a
      non-judicial foreclosure sale.

     

     

    
      
        
        

      

      
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    (e) Without
      limiting the foregoing or anything else contained in this Guaranty, Guarantor
      waives all rights and defenses that Guarantor may have because Borrower’s Loan
      is secured by real property. This means, among other things:

     

    (i) that
      Lender may collect from Guarantor without first foreclosing on any real or
      personal property collateral pledged by Borrower; and

     

    (ii) if
      Lender
      forecloses on any real property collateral pledged by Borrower: (x) the amount
      of the Loan may be reduced only by the price for which that collateral is sold
      at the foreclosure sale, even if the collateral is worth more than the sale
      price; and (y) Lender may collect from Guarantor even if Lender, by foreclosing
      on the real property collateral, has destroyed any right Guarantor may have
      to
      collect from Borrower.

     

    This
      subsection (e) is an unconditional and irrevocable waiver of any rights and
      defenses Guarantor may have because Borrower’s Loan is secured by real property.
      These rights and defenses include, but are not limited to, any rights or
      defenses based upon Sections 580a, 580b, 580d, or 726 of the California Code
      of
      Civil Procedure.

     

    (f) Guarantor
      waives all rights and defenses arising out of any failure of the Lender to
      disclose to the Guarantor any information relating to the financial condition,
      operations, properties or prospects of Borrower now or in the future known
      to
      the Lender (Guarantor waiving any duty on the part of the Lender to disclose
      such information).

     

    (g) Guarantor
      waives all rights and defenses, if any, now or hereafter arising under the
      laws
      of the State of Illinois, which are the same as or similar to the rights and
      defenses waived as described above.

     

    ARTICLE
      2 

     

    EVENTS
      AND CIRCUMSTANCES NOT REDUCING

     

    OR
      DISCHARGING GUARANTOR’S OBLIGATIONS

     

    Guarantor
      hereby consents and agrees to each of the following, and agrees that Guarantor’s
      obligations under this Guaranty shall not be released, diminished, impaired,
      reduced or adversely affected by any of the following, and waives any common
      law, equitable, statutory or other rights (including without limitation rights
      to notice) which Guarantor might otherwise have as a result of or in connection
      with any of the following:

     

    2.1 Modifications.
      Any
      renewal, extension, increase, modification, alteration or rearrangement of
      all
      or any part of the Guaranteed Obligations, Note, Loan Documents, or other
      document, instrument, contract or understanding between Borrower and Lender,
      or
      any other parties, pertaining to the Guaranteed Obligations or any failure
      of
      Lender to notify Guarantor of any such action.

     

     

    
      
        
        

      

      
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    2.2 Adjustment.
      Any
      adjustment, indulgence, forbearance or compromise that might be granted or
      given
      by Lender to Borrower or any Guarantor.

     

    2.3 Condition
      of Borrower or Guarantor.
      The
      insolvency, bankruptcy, arrangement, adjustment, composition, liquidation,
      disability, dissolution or lack of power of Borrower, Guarantor or any other
      party at any time liable for the payment of all or part of the Guaranteed
      Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease
      or
      transfer of any or all of the assets of Borrower or Guarantor, or any changes
      in
      the shareholders, partners or members of Borrower or Guarantor; or any
      reorganization of Borrower or Guarantor.

     

    2.4 Invalidity
      of Guaranteed Obligations.
      The
      invalidity, illegality or unenforceability of all or any part of the Guaranteed
      Obligations, or any document or agreement executed in connection with the
      Guaranteed Obligations, for any reason whatsoever, including without limitation
      the fact that (a) the Guaranteed Obligations, or any part thereof, exceeds
      the
      amount permitted by law, (b) the act of creating the Guaranteed Obligations
      or
      any part thereof is ultra vires,
      (c) the
      officers or representatives executing the Note or the other Loan Documents
      or
      otherwise creating the Guaranteed Obligations acted in excess of their
      authority, (d) the Guaranteed Obligations violate applicable usury laws, (e)
      Borrower has valid defenses, claims or offsets (whether at law, in equity or
      by
      agreement) which render the Guaranteed Obligations wholly or partially
      uncollectible from Borrower, (f) the creation, performance or repayment of
      the
      Guaranteed Obligations (or the execution, delivery and performance of any
      document or instrument representing part of the Guaranteed Obligations or
      executed in connection with the Guaranteed Obligations, or given to secure
      the
      repayment of the Guaranteed Obligations) is illegal, uncollectible or
      unenforceable, or (g) the Note or any of the other Loan Documents have been
      forged or otherwise are irregular or not genuine or authentic, it being agreed
      that Guarantor shall remain liable hereon regardless of whether Borrower or
      any
      other person be found not liable on the Guaranteed Obligations or any part
      thereof for any reason.

     

    2.5 Release
      of Obligors.
      Any
      full or partial release of the liability of Borrower on the Guaranteed
      Obligations, or any part thereof, or of any co-guarantors, or any other person
      or entity now or hereafter liable, whether directly or indirectly, jointly,
      severally, or jointly and severally, to pay, perform, guarantee or assure the
      payment of the Guaranteed Obligations, or any part thereof, it being recognized,
      acknowledged and agreed by Guarantor that Guarantor may be required to pay
      the
      Guaranteed Obligations in full without assistance or support of any other party,
      and Guarantor has not been induced to enter into this Guaranty on the basis
      of a
      contemplation, belief, understanding or agreement that other parties will be
      liable to pay or perform the Guaranteed Obligations, or that Lender will look
      to
      other parties to pay or perform the Guaranteed Obligations.

     

    2.6 Other
      Collateral.
      The
      taking or accepting of any other security, collateral or guaranty, or other
      assurance of payment, for all or any part of the Guaranteed
      Obligations.

     

     

    
      
        
        

      

      
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    2.7 Release
      of Collateral.
      Any
      release, surrender, exchange, subordination, deterioration, waste, loss or
      impairment (including without limitation negligent, willful, unreasonable or
      unjustifiable impairment) of any collateral, property or security, at any time
      existing in connection with, or assuring or securing payment of, all or any
      part
      of the Guaranteed Obligations.

     

    2.8 Care
      and Diligence.
      The
      failure of Lender or any other party to exercise diligence or reasonable care
      in
      the preservation, protection, enforcement, sale or other handling or treatment
      of all or any part of such collateral, property or security, including but
      not
      limited to any neglect, delay, omission, failure or refusal of Lender (a) to
      take or prosecute any action for the collection of any of the Guaranteed
      Obligations, or (b) to foreclose, or initiate any action to foreclose, or,
      once
      commenced, prosecute to completion any action to foreclose upon any security
      therefor, or (c) to take or prosecute any action in connection with any
      instrument or agreement evidencing or securing all or any part of the Guaranteed
      Obligations.

     

    2.9 Unenforceability.
      The
      fact that any collateral, security, security interest or lien contemplated
      or
      intended to be given, created or granted as security for the repayment of the
      Guaranteed Obligations, or any part thereof, shall not be properly perfected
      or
      created, or shall prove to be unenforceable or subordinate to any other security
      interest or lien, it being recognized and agreed by Guarantor that Guarantor
      is
      not entering into this Guaranty in reliance on, or in contemplation of the
      benefits of, the validity, enforceability, collectibility or value of any of
      the
      collateral for the Guaranteed Obligations.

     

    2.10 Offset.
      Any
      existing or future right of offset, claim or defense of Borrower against Lender,
      or any other party, or against payment of the Guaranteed Obligations, whether
      such right of offset, claim or defense arises in connection with the Guaranteed
      Obligations (or the transactions creating the Guaranteed Obligations) or
      otherwise.

     

    2.11 Merger.
      The
      reorganization, merger or consolidation of Borrower into or with any other
      corporation or entity.

     

    2.12 Preference.
      Any
      payment by Borrower to Lender is held to constitute a preference under
      bankruptcy laws, or for any reason Lender is required to refund such payment
      or
      pay such amount to Borrower or someone else.

     

    2.13 Other
      Actions Taken or Omitted.
      Any
      other action taken or omitted to be taken with respect to the Loan Documents,
      the Guaranteed Obligations, or the security and collateral therefor, whether
      or
      not such action or omission prejudices Guarantor or increases the likelihood
      that Guarantor will be required to pay the Guaranteed Obligations pursuant
      to
      the terms hereof, it is the unambiguous and unequivocal intention of Guarantor
      that Guarantor shall be obligated to pay the Guaranteed Obligations when due,
      notwithstanding any occurrence, circumstance, event, action, or omission
      whatsoever, whether or not contemplated, and whether or not otherwise or
      particularly described herein, which obligation shall be deemed satisfied only
      upon the full and final payment and satisfaction of the Guaranteed
      Obligations.

     

     

    
      
        
        

      

      
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    ARTICLE
      3 

     

    REPRESENTATIONS
      AND WARRANTIES

     

    To
      induce
      Lender to enter into the Loan Documents and extend credit to Borrower, Guarantor
      represents and warrants to Lender as follows:

     

    3.1 Benefit.
      Guarantor is an affiliate of Borrower or is the owner of a direct or indirect
      interest in Borrower, and has received, or will receive, direct or indirect
      benefit from the making of this Guaranty with respect to the Guaranteed
      Obligations.

     

    3.2 Familiarity
      and Reliance.
      Guarantor is familiar with, and has independently reviewed books and records
      regarding, the financial condition of Borrower and is familiar with the value
      of
      any and all collateral intended to be created as security for the payment of
      the
      Note or Guaranteed Obligations; however, Guarantor is not relying on such
      financial condition or the collateral as an inducement to enter into this
      Guaranty.

     

    3.3 No
      Representation by Lender.
      Neither
      Lender nor any other party has made any representation, warranty or statement
      to
      Guarantor in order to induce Guarantor to execute this Guaranty.

     

    3.4 Guarantor’s
      Financial Condition.
      As of
      the date hereof, and after giving effect to this Guaranty and the contingent
      obligation evidenced hereby, Guarantor is, and will be, solvent, and has and
      will have assets which, fairly valued, exceed its obligations, liabilities
      (including contingent liabilities) and debts, and has and will have property
      and
      assets sufficient to satisfy and repay its obligations and liabilities. There
      have been no (a) assignment made for the benefit of Guarantor’s creditors, (b)
      appointment of a receiver for Guarantor or for Guarantor’s properties, or (c)
      bankruptcy, reorganization, or liquidation proceeding instituted by or against
      Guarantor.

     

    3.5 Legality.
      The
      execution, delivery and performance by Guarantor of this Guaranty and the
      consummation of the transactions contemplated hereunder do not, and will not,
      contravene or conflict with any law, statute or regulation whatsoever to which
      Guarantor is subject or constitute a default (or an event which with notice
      or
      lapse of time or both would constitute a default) under, or result in the breach
      of, any indenture, mortgage, deed of trust, charge, lien, or any contract,
      agreement or other instrument to which Guarantor is a party or which may be
      applicable to Guarantor. This Guaranty is a legal and binding obligation of
      Guarantor and is enforceable in accordance with its terms, except as limited
      by
      bankruptcy, insolvency or other laws of general application relating to the
      enforcement of creditors’ rights.

     

    3.6 Survival.
      All
      representations and warranties made by Guarantor herein shall survive the
      execution hereof.

     

    3.7 Review
      of Documents.
      Guarantor has examined the Note and all of the Loan Documents.

     

    3.8 Litigation.
      Except
      as otherwise disclosed to Lender, there are no proceedings pending or, so far
      as
      Guarantor knows, threatened before any court, 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    

     

    governmental
      or administrative agency which, if decided adversely to Guarantor, would
      materially adversely affect the financial condition of Guarantor or the
      authority of Guarantor to enter into, or the validity or enforceability of
      this
      Guaranty. In addition, except as otherwise disclosed to Lender, (a) there are
      no
      outstanding judgment(s) against or relating to Guarantor, (b) Guarantor has
      not
      (i) had any property foreclosed upon, (ii) given a deed in lieu of foreclosure,
      or (iii) been involved in any criminal proceedings where Guarantor was the
      defendant and (c) Guarantor has not defaulted on any loan or other
      indebtedness.

     

    3.9 Tax
      Returns.
      Guarantor has filed all required federal, state and local tax returns and has
      paid all taxes as shown on such returns as they have become due. No claims
      have
      been assessed and are unpaid with respect to such taxes.

     

    3.10 OFAC.
      Guarantor is not and will not become a person (individually, a “Prohibited
      Person”
      and
      collectively “Prohibited
      Persons”)
      listed
      on the Specially Designated Nationals and Blocked Persons List maintained by
      the
      Office of Foreign Asset Control, U.S. Department of the Treasury (the
“OFAC
      List”)
      or
      otherwise subject to any other prohibitions or restriction imposed by laws,
      rules, regulations or executive orders, including Executive Order No. 13224,
      administered by OFAC (collectively the “OFAC
      Rules”).
      Guarantor represents and covenants that it also (a) is not and will not become
      owned or controlled by a Prohibited Person, (b) is not acting and will not
      act
      for or on behalf of a Prohibited Person, (c) is not otherwise associated with
      and will not become associated with a Prohibited Person, (d) is not providing
      and will not provide any material, financial or technological support for or
      financial or other service to or in support of acts of terrorism or a Prohibited
      Person. Guarantor shall immediately notify Lender if Guarantor or any member,
      partner or beneficial owner of Guarantor becomes a Prohibited Person or (i)
      is
      indicted on or (ii) arraigned and held over on charges involving money
      laundering or predicate crimes to money laundering. Guarantor will not enter
      into any transaction or undertake any activities related to the Loan in
      violation of the federal Bank Secrecy Act, as amended (“BSA”),
      31
      U.S.C. §5311, et seq. or any federal or state laws, rules, regulations or
      executive orders, including, but not limited to, 18 U.S.C. §§1956, 1957 and
      1960, prohibiting money laundering and terrorist financing (collectively
“Anti-Money
      Laundering Laws”).
      Guarantor shall (A) not use or permit the use of any proceeds of the Loan in
      any
      way that will violate either the OFAC Rules or Anti-Money Laundering Laws,
      (B)
      comply and cause all of its subsidiaries to comply with applicable OFAC Rules
      and Anti-Money Laundering Laws, (C) provide information as Lender may require
      from time to time to permit Lender to satisfy its obligations under the OFAC
      Rules and/or the Anti-Money Laundering Laws and (D) not engage in or conspire
      to
      engage in any transaction that evades or avoids, or has the purpose of evading
      or avoiding, or attempts to violate, any of the foregoing. Guarantor shall
      immediately notify Lender if any Tenant becomes a Prohibited Person or (1)
      is
      convicted of, (2) pleads nolo contendere to, (3) is indicted on, or (4) is
      arraigned and held over on charges involving money laundering or predicate
      crimes to money laundering.

     

     

    
      
        
        

      

      
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    ARTICLE
      4 

     

    SUBORDINATION
      OF CERTAIN INDEBTEDNESS

     

    4.1 Subordination
      of All Guarantor Claims.
      As used
      herein, the term “Guarantor Claims” shall mean all debts and liabilities of
      Borrower to Guarantor, whether such debts and liabilities now exist or are
      hereafter incurred or arise, or whether the obligations of Borrower thereon
      be
      direct, contingent, primary, secondary, several, joint and several, or
      otherwise, and irrespective of whether such debts or liabilities be evidenced
      by
      note, contract, open account, or otherwise, and irrespective of the person
      or
      persons in whose favor such debts or liabilities may, at their inception, have
      been, or may hereafter be created, or the manner in which they have been or
      may
      hereafter be acquired by Guarantor. The Guarantor Claims shall include without
      limitation all rights and claims of Guarantor against Borrower (arising as
      a
      result of subrogation or otherwise) as a result of Guarantor’s payment of all or
      a portion of the Guaranteed Obligations to the extent the provisions of
      Paragraph 1.4 hereof are unenforceable. Upon the occurrence of an Event of
      Default or the occurrence of an event which would, with the giving of notice
      or
      the passage of time, or both, constitute an Event of Default, Guarantor shall
      not receive or collect, directly or indirectly, from Borrower or any other
      party
      any amount upon the Guarantor Claims.

     

    4.2 Claims
      in Bankruptcy.
      In the
      event of receivership, bankruptcy, reorganization, arrangement, debtor’s relief,
      or other insolvency proceedings involving Guarantor as debtor, Lender shall
      have
      the right to prove its claim in any such proceeding so as to establish its
      rights hereunder and receive directly from the receiver, trustee or other court
      custodian dividends and payments which would otherwise be payable upon Guarantor
      Claims. Guarantor hereby assigns such dividends and payments to Lender. Should
      Lender receive, for application upon the Guaranteed Obligations, any such
      dividend or payment which is otherwise payable to Guarantor, and which, as
      between Borrower and Guarantor, shall constitute a credit upon the Guarantor
      Claims, then upon payment to Lender in full of the Guaranteed Obligations,
      Guarantor shall become subrogated to the rights of Lender to the extent that
      such payments to Lender on the Guarantor Claims have contributed toward the
      liquidation of the Guaranteed Obligations, and such subrogation shall be with
      respect to that proportion of the Guaranteed Obligations which would have been
      unpaid if Lender had not received dividends or payments upon the Guarantor
      Claims.

     

    4.3 Payments
      Held in Trust.
      In the
      event that, notwithstanding anything to the contrary in this Guaranty, Guarantor
      should receive any funds, payment, claim or distribution which is prohibited
      by
      this Guaranty, Guarantor agrees to hold in trust for Lender an amount equal
      to
      the amount of all funds, payments, claims or distributions so received, and
      agrees that it shall have absolutely no dominion over the amount of such funds,
      payments, claims or distributions so received except to pay them promptly to
      Lender, and Guarantor covenants promptly to pay the same to Lender.

     

    4.4 Liens
      Subordinate.
      Guarantor agrees that any liens, security interests, judgment liens, charges
      or
      other encumbrances upon Borrower’s assets securing payment of the Guarantor
      Claims shall be and remain inferior and subordinate to any liens, 

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    

     

    security
      interests, judgment liens, charges or other encumbrances upon Borrower’s assets
      securing payment of the Guaranteed Obligations, regardless of whether such
      encumbrances in favor of Guarantor or Lender presently exist or are hereafter
      created or attach. Without the prior written consent of Lender, Guarantor shall
      not (a) exercise or enforce any creditor’s right it may have against Borrower,
      or (b) foreclose, repossess, sequester or otherwise take steps or institute
      any
      action or proceedings (judicial or otherwise, including without limitation
      the
      commencement of, or joinder in, any liquidation, bankruptcy, rearrangement,
      debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds
      of trust, security interest, collateral rights, judgments or other encumbrances
      on assets of Borrower held by Guarantor.

     

    ARTICLE
      5 

     

    MISCELLANEOUS

     

    5.1 Waiver.
      No
      failure to exercise, and no delay in exercising, on the part of Lender, any
      right hereunder shall operate as a waiver thereof, nor shall any single or
      partial exercise thereof preclude any other or further exercise thereof or
      the
      exercise of any other right. The rights of Lender hereunder shall be in addition
      to all other rights provided by law. No modification or waiver of any provision
      of this Guaranty, nor consent to departure therefrom, shall be effective unless
      in writing and no such consent or waiver shall extend beyond the particular
      case
      and purpose involved. No notice or demand given in any case shall constitute
      a
      waiver of the right to take other action in the same, similar or other instances
      without such notice or demand.

     

    5.2 Notices.
      Any
      notice, demand, statement, request or consent made hereunder shall be in writing
      and shall be deemed to be received by the addressee on the first business day
      after such notice is tendered to a nationally recognized overnight delivery
      service or on the third day following the day such notice is deposited with
      the
      United States Postal Service first class certified mail, return receipt
      requested, in either instance, addressed to the address, as set forth below,
      of
      the party to whom such notice is to be given, or to such other address as either
      party shall in like manner designate in writing. The addresses of the parties
      hereto are as follows:

     

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    

     

    Guarantor:

     

    Maguire
      Macquarie Office, LLC

    c/o
      Maguire Properties, Inc.

    333
      South
      Grand Avenue, Suite 400

    Los
      Angeles, California 90071

     

    Attention:
      Robert F. Maguire III and Mark T. Lammas, Esq.

     

    Lender:

     

    LaSalle
      Bank National Association

    135
      S.
      LaSalle Street

    Suite
      3410

    Chicago,
      Illinois 60603

    Attn:
      Real Estate Capital Markets

       Re:
      Cerritos
      Corporate Center

     

    5.3 Governing
      Law; Jurisdiction.
      THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
      OF
      THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES, AND THE
      APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. GUARANTOR HEREBY IRREVOCABLY
      SUBMITS TO THE JURISDICTION OF ANY COURT OF COMPETENT JURISDICTION LOCATED
      IN
      THE CITY OF CHICAGO AND STATE OF ILLINOIS IN CONNECTION WITH ANY PROCEEDING
      ARISING OUT OF OR RELATING TO THIS GUARANTY.

     

    5.4 Invalid
      Provisions.
      If any
      provision of this Guaranty is held to be illegal, invalid, or unenforceable
      under present or future laws effective during the term of this Guaranty, such
      provision shall be fully severable and this Guaranty shall be construed and
      enforced as if such illegal, invalid or unenforceable provision had never
      comprised a part of this Guaranty, and the remaining provisions of this Guaranty
      shall remain in full force and effect and shall not be affected by the illegal,
      invalid or unenforceable provision or by its severance from this Guaranty,
      unless such continued effectiveness of this Guaranty, as modified, would be
      contrary to the basic understandings and intentions of the parties as expressed
      herein.

     

    5.5 Amendments.
      This
      Guaranty may be amended only by an instrument in writing executed by the party
      or an authorized representative of the party against whom such amendment is
      sought to be enforced.

     

    5.6 Parties
      Bound; Assignment.
      This
      Guaranty shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors, assigns, legal representatives, heirs,
      executors, and administrators; provided, however, that Guarantor may not,
      without the prior written consent of Lender, assign any of its rights, powers,
      duties or obligations hereunder.

     

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    

     

    5.7 Headings.
      The
      article, paragraph and subparagraph headings are for convenience of reference
      only and shall in no way affect the interpretation of this
      Guaranty.

     

    5.8 Recitals.
      The
      recital and introductory paragraphs hereof are a part hereof, form a basis
      for
      this Guaranty and shall be considered prima facie
      evidence
      of the facts and documents referred to therein.

     

    5.9 Counterparts.
      To
      facilitate execution, this Guaranty may be executed in as many counterparts
      as
      may be convenient or required. It shall not be necessary that the signature
      or
      acknowledgment of, or on behalf of, each party, or that the signature of all
      persons required to bind any party, or the acknowledgment of such party, appear
      on each counterpart. All counterparts shall collectively constitute a single
      instrument. It shall not be necessary in making proof of this Guaranty to
      produce or account for more than a single counterpart containing the respective
      signatures of, or on behalf of, and the respective acknowledgments of, each
      of
      the parties hereto. Any signature or acknowledgment page to any counterpart
      may
      be detached from such counterpart without impairing the legal effect of the
      signatures or acknowledgments thereon and thereafter attached to another
      counterpart identical thereto except having attached to it additional signature
      or acknowledgment pages.

     

    5.10 Financial
      Statements:
      Guarantor shall furnish to Lender, cause to be furnished to Lender, or direct
      Lender to an internet site or public filing containing, to the extent
      applicable, the following:

     

    (a) within
      ninety (90) days after the close of each fiscal year of Guarantor, a balance
      sheet of Guarantor dated as of the close of such fiscal year;

     

    (b) contemporaneously
      with its delivery to the Internal Revenue Service, copies of any and all tax
      returns, requests for extension and other similar items; and

     

    (c) from
      time
      to time, such additional financial statements and financial information as
      Lender shall reasonably require.

     

    All
      balance sheets shall include, among other things, disclosure of all contingent
      liabilities and changes in financial condition, together with such supporting
      schedules and documentation as Lender shall reasonably require. All balance
      sheets shall be certified by Guarantor.

     

    5.11 Rights
      and Remedies.
      If
      Guarantor becomes liable for any indebtedness owing by Borrower to Lender,
      by
      endorsement or otherwise, other than under this Guaranty, such liability shall
      not be in any manner impaired or affected hereby and the rights of Lender
      hereunder shall be cumulative of any and all other rights that Lender may ever
      have against Guarantor. The exercise by Lender of any right or remedy hereunder
      or under any other instrument, or at law or in equity, shall not preclude the
      concurrent or subsequent exercise of any other right or remedy.

     

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    

     

    5.12 Entirety.
      THIS GUARANTY EMBODIES THE FINAL, ENTIRE AGREEMENT OF GUARANTOR AND LENDER
      WITH
      RESPECT TO GUARANTOR’S GUARANTY OF THE GUARANTEED OBLIGATIONS AND SUPERSEDES ANY
      AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS,
      WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF. THIS GUARANTY
      IS
      INTENDED BY GUARANTOR AND LENDER AS A FINAL AND COMPLETE EXPRESSION OF THE
      TERMS
      OF THIS GUARANTY, AND NO COURSE OF DEALING BETWEEN GUARANTOR AND LENDER, NO
      COURSE OF PERFORMANCE, NO TRADE PRACTICES, AND NO EVIDENCE OF PRIOR,
      CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OR OTHER EXTRINSIC
      EVIDENCE OF ANY NATURE SHALL BE USED TO CONTRADICT, VARY, SUPPLEMENT OR MODIFY
      ANY TERM OF THIS GUARANTY AGREEMENT. THERE ARE NO ORAL AGREEMENTS BETWEEN
      GUARANTOR AND LENDER.

     

    5.13 Waiver
      of Right to Trial by Jury.
      EXCEPT AS PROHIBITED UNDER APPLICABLE LAW, GUARANTOR AND LENDER HEREBY WAIVE
      THEIR RIGHTS TO A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND
      WAIVE
      ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW
      OR
      HEREAFTER EXIST WITH REGARD TO THIS GUARANTY, THE MORTGAGE, OR THE OTHER LOAN
      DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION
      THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY,
      INTENTIONALLY AND VOLUNTARILY BY GUARANTOR AND LENDER, AND IS INTENDED TO
      ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO
      A
      TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER IS HEREBY AUTHORIZED TO FILE A
      COPY
      OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY
      GUARANTOR.
      GUARANTOR
      ACKNOWLEDGES THAT NEITHER LENDER NOR ANY PERSON ACTING ON BEHALF OF LENDER
      HAS
      MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR
      HAS
      TAKEN ANY ACTION WHICH IN ANY WAY MODIFIES OR NULLIFIES ITS EFFECT. GUARANTOR
      ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO THE LOAN,
      THAT LENDER HAS RELIED ON THIS WAIVER IN ENTERING INTO THE LOAN DOCUMENTS AND
      THAT LENDER WILL CONTINUE TO RELY ON THIS WAIVER IN ITS FUTURE DEALINGS.
      GUARANTOR FURTHER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE
      OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS GUARANTY AND ANY OTHER
      LOAN DOCUMENTS THAT GUARANTOR HAS ENTERED INTO AND IN THE MAKING OF THIS WAIVER
      BY INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS
      HAD
      THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL. LENDER BY ITS ACCEPTANCE
      OF
      THIS GUARANTY ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    

     

    OPPORTUNITY
      TO BE REPRESENTED) IN THE MAKING OF THE LOAN SECURED BY THIS GUARANTY AND IN
      THE
      MAKING OF THIS WAIVER BY INDEPENDENT LEAL COUNSEL, SELECTED OF ITS OWN FREE
      WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH
      COUNSEL.

     

    

     

    [SIGNATURE
      ON FOLLOWING PAGE]

     

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    

     

    EXECUTED
      as of the day and year first above written.

     

    

      
        	
                GUARANTOR:

                 

              
	
                MAGUIRE
                  MACQUARIE OFFICE, LLC,

              
	
                a Delaware limited
                  liability company

              
	 
	
                By:      
                  Maguire
                  MO Manager, LLC, a Delaware limited

              
	
                liability
                  company, its manager

              
	 
	
                By:      
                  Maguire
                  Properties, L.P., 

                a
                  Maryland limited partnership, its sole member

              
	 
	
                By:       Maguire
                  Properties, Inc., 

                a
                  Maryland corporation, its sole general partner

              
	 
	
                By:    
                   /s/ Dallas
                  E.
                  Lucas                                     

              
	
                Name:     
                  Dallas E. Lucas

              
	
                Its:          
                  Executive Vice President and Chief Financial
                  OfficerExh 10.11 1/5/2006 Cerritos Corp Center Contribution Agreement

    
      

    

    Exhibit
      10.11

    
 

    CONTRIBUTION
      AGREEMENT 

     

    (CERRITOS
      CORPORATE CENTER-LASALLE BANK LOAN) 

     

    THIS
      CONTRIBUTION AGREEMENT (this "Agreement") ismade as of January 5, 2006 by and
      between MAGUIRE PROPERTIES, L.P., a Maryland limited partnership ("MPLP") and
      MAGUIRE MACQUARIE OFFICE LLC, a Delaware limited liability company (the "Joint
      Venture"). 

     

    

     

    

    RECITALS
      

     

    A.
      Pursuant to that certain Leasehold Deed of Trust, Security Agreement and Fixture
      Filing (the "Security Instrument") dated as of January 5, 2006, by and between
      Maguire Macquarie-Cerritos I, LLC, a Delaware limited liability company
      ("Borrower") and LaSalle Bank National Association, a national banking
      association, and its successors and assigns ("Lender"), Borrower is indebted
      to
      Lender for a loan in the original principal amount of Ninety-Five Million
      Dollars ($95,000,000.00) (the "Loan"), secured by, among other collateral,
      the
      Security Instrument recorded as a lien on the real property described therein,
      commonly known as Cerritos Corporate Center (the "Property"). 

     

    B.
      MPLP owns a twenty percent (20%) membership interest in the Joint Venture,
      which, in turn, owns all of the membership interests in Borrower. The Joint
      Venture is providing a non-recourse carve-out guaranty in favor of Lender in
      connection with the Loan. The Joint Venture and MPLP agree that in the event
      of
      a default under the Loan and/or
      Security Instrument, subject to the limitations and terms and conditions set
      forth in this Agreement, MPLP will make additional contributions of capital
      to
      the Joint Venture and the Joint Venture will, in turn, contribute such
      contributed capital to Borrower to be used to repay any outstanding Shortfall
      Amount on the Loan, as defined below. 

     

    All
      capitalized terms used herein and not otherwise defined herein shall have the
      meanings given to such terms in the Security Instrument. 

     

    NOW,
      THEREFORE, in consideration of the foregoing recitals and other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereby agree as follows: 

     

    1.
      Capital Contribution
      Obligation. If, for any reason, Borrower shall be in default under the Loan
      and/or Security Instrument
      and repayment of the obligations(the "Obligations") of Borrower evidenced bythe
      Loan and secured bythe Security Instrument
      is due after notice and lapse of any applicable cure periods (such default
      and
      repayment obligation is referred to hereinafter as a "Default") and the Default
      can be cured bythe payment of money to the Lender, then MPLP absolutely and
      unconditionally agrees (subject tothe limits set forth below) to contribute
      to
      the capital of the Joint Venture cash orcash equivalents in an amount equal
      to
      the Shortfall Amount (as defined below). Notwithstanding the foregoing,MPLP's
      maximum liability hereunder is equal to Ninety Five Million Dollars
      ($95,000,000.00) (the "MaximumLiability") and under no circumstances shall
      MPLP
      be obligated to contribute an aggregate amount under this Agreement in excess
      of
      MPLP's Maximum Liability. No demand shall be made under this Agreement for
      contribution of the Shortfall Amount or any portion 

     

    [PSR:psr/Contingent
      Contribution Agreement (Bottom Dollar) Cerritos LaSalle Bank
      Loan.DOC/122705/1039.023]
      

    thereof
      until such time as the Lender shall have fully and completely exercised (and
      not
      waived) 

    all
      rights, powers, and remedies it has with respect to foreclosure on the Property,
      or following the date any such Default is cured by Borrower. The "Shortfall
      Amount" shall equal the excess of (i) the Maximum Liability or the amount of
      outstanding principal and accrued interest owed on the Loan immediately prior
      to
      the Default, whichever is less; over (ii) the sum of all amounts recovered
      and
      the fair market value of the Property obtained by Lender (including, without
      limitation, with respect to principal, interest, late fees, penalties and costs
      of collection), if any, from or on behalf of Borrower after the Default in
      proceedings against Borrower or the Property under the documents which set
      forth
      the Loan (including, without limitation, the Security Instrument).
      

     

      2.
      Use of Contributions. The funds contributed to the capital of the Joint Venture
      by MPLP pursuant to this Agreement in performance of its obligations hereunder
      will be contributed by the Joint Venture to Borrower, forBorrower to pay any
      Shortfall Amount. Any capital contributions made to the Joint Venture by MPLP
      pursuant hereto shall be deposited by the Joint Venture immediately into a
      separate bank account in Borrower's name. The Joint Venture shall cause Borrower
      to use such funds solely for payments to the Lender for the 

      Shortfall
      Amount. 

    2  Personal
      Obligation. The obligations of MPLP under this Agreement are personal to MPLP
      and shall not be affected by any transfer by it of all or any of its interests
      in the Joint Venture, and MPLP shall have no right to receive from the Joint
      Venture any reimbursement or return of any contributions to the Joint Venture,
      or other payments, made pursuant to this Agreement. The obligations of JV under
      this Agreement are personal to JV and shall not be affected by any transfer
      by
      it of all or any of its interests in Borrower, and JV shall have no right to
      receive from the Borrower any reimbursement or return of any contributions
      to
      the Borrower, or other payments, made pursuant to this Agreement. 

      4.
      Term of Agreement. This Agreement, as well as all of the rights, duties,
      requirements and obligations created hereunder, shall automatically expire
      and
      be of no further force or effect on the earlier to occur of (i) thirty-six
      (36)
      months following the date hereof; provided, however, that MPLP may extend the
      term of this Agreement beyond thirty-six (36) months for any period of time
      it
      deems advisable, in its sole and absolute discretion, upon written notice of
      the
      extended term to the Joint Venture, and (ii) date on which the Obligations
      under
      the 

      Loan
      are satisfied in full. 

    3  Rights
      of Lender. Borrower or the Lender, or any subsequent holder of the Loan or
      beneficiary of the Security Instrument may, from time to time, without notice
      toorconsent of MPLP, agree to any amendment,
      waiver,
      modification or alteration of the Security Instrument relating to Borrower
      and
      its rights and obligations thereunder (including, without limitation, the
      renewal or extension of the maturity of the indebtedness secured by the Security
      Instrument, increase or reduction of the rate of interest payable under the
      Loan, release, substitution or addition of MPLP or any endorser on the Loan,
      and
      acceptance of any additional security for the Loan). 

    

    6.
      Intent to Benefit Lender. This Agreement is expressly for the benefit of

    the
      Lender and its successors and assigns. The parties hereto intend that the Lender
      shall be a third party beneficiary of this Agreement and that the Lender shall
      have the right to enforce the 

     

    pSR:psr/Contingent
      Contribution Agreement (Bottom Dollar) Cerritos LaSalle Bank
      Loan.DOC/1227os/Io39.o23]
      2 

    obligations
      of MPLP hereunder separately and independently of the Joint Venture, without
      any
      requirement whatsoever of resort by the Lender to any other party, including,
      without limitation, the Joint Venture under the Guaranty. The Lender's status
      as
      a third party beneficiary of this Agreement and the Lender's right to enforce
      the obligations of MPLP are material elements of this Agreement. Any payments
      to
      Lender hereunder shall for all purposes hereunder be treated as capital
      contributions by MPLP to the Joint Venture in accordance with the provisions
      of
      Paragraph 1 above. This Agreement shall not be modified, amended or terminated
      without the written consent of the Lender. MPLP shall furnish a copy of this
      Agreement to the Lender immediately following the execution hereof by the
      parties. 

     

    1  Condition
      of Borrower and the Joint Venture. MPLP is fully aware of the financial
      condition of Borrower, the Joint Venture and the Property, and is executing
      and
      delivering this Agreement based solely upon its own independent investigation
      of
      all matters pertinent hereto and is not relying in any manner upon any
      representation or statement of the Lender. MPLP hereby represents and warrants
      that it is in a position to obtain, and hereby assumes full responsibility
      for
      obtaining, any additional information concerning the Joint Venture's and the
      Property's financial condition and any other matter pertinent hereto as it
      may
      desire, and it is not relying upon or expecting the Lender to furnish to it
      any
      information now or hereafter in the Lender's possession concerning the same
      or
      any other matter. By executing this Agreement, MPLP knowingly accepts the full
      range of risks encompassed within a contract of this type, which risks it
      acknowledges. MPLP shall have no fight to require the Lender to obtain or
      disclose any information with respect to the Obligations, the financial
      condition or character of Borrower, the Joint Venture, the Property, Borrower's
      ability to pay or perform the Obligations, the existence or non-existence of
      any
      guaranties of all or any part of the Obligations, any action or non-action
      on
      the part of the Lender, Borrower, the Joint Venture, or any other person, or
      any
      other matter, fact or occurrence whatsoever. In the event a contribution is
      made
      pursuant to this Agreement, the parties agree that the member's interest in
      the
      Joint Venture will not be adjusted. The parties agree that if a contribution
      is
      made under this Agreement, the allocation provisions of the Joint Venture shall
      be applied in a manner so as to assure to the greatest extent possible that
      the
      capital account balances of the partners are no different than would have
      existed if no contribution had been made under this Agreement. 

    2  MPLPs'
      General Waivers. MPLP waives: (a) any defense now existing or hereafter arising
      based upon any
      legal
      disability or other defense of the Joint Venture, Borrower, MPLP or any other
      Person, or by reason of the cessation or limitation of the liability of
      Borrower, MPLP or any other Person from any cause other than full payment and
      performance of all obligations due under the Security Instrument or any of
      the
      other Loan Documents; (b) any defense based upon any lack of authority of the
      officers, directors, partners or agents acting or purporting to act on behalf
      of
      the Joint Venture, Borrower or any other Person, or any defect in the formation
      of the Joint Venture, Borrower or any other Person; (c) the unenforceability
      or
      invalidity of any security or guarantee or the lack of perfection or continuing
      perfection, or failure of priority of any security for the obligations
      guarantied hereunder; (d) any and all rights and defenses arising out of an
      election of remedies by Lender, even though that election of remedies, such
      as a
      nonjudicial foreclosure with respect to security for a guaranteed obligation,
      has destroyed MPLP's rights of subrogation and reimbursement against the
      principal by the operation of Section 580d of the California Code of Civil
      Procedure or otherwise; (e) any defense based upon Lender's failure to disclose
      to MPLP any information concerning the Joint 

    

    [PSR:psr/ContingentContribution
      Agreement (Bottom Dollar) Cerritos LaSalle Bank Loan.DOC/122705/1039.023]
      3 

    Venture's,
      Borrower's or any other Person's financial condition or any other circumstances
      bearing on the Joint Venture's, Borrower's or any other Person's ability to
      pay
      and perform all obligations due under the Security Instrument or any of the
      other Loan Documents; (f) any failure by Lender to give notice to the Joint
      Venture, Borrower, MPLP or any other Person of the sale or other disposition
      of
      security held for the Loan, and any defect in notice given by Lender in
      connection with any such sale or disposition of security held for the Loan;
      (g)
      any failure of Lender to comply with applicable laws in connection with the
      sale
      or disposition of security held for the Loan, including, without limitation,
      any
      failure by Lender to conduct a commercially reasonable sale or other disposition
      of such security; (h) any defense based upon any statute or rule of law which
      provides that the obligation of a surety must be neither larger in amount nor
      in
      any other respects more burdensome than that of a principal, or that reduces
      a
      surety's or guarantor's (or hereunder, MPLP's) obligations in proportion to
      the
      principal's obligation; (i) any use of cash collateral under Section 363 of
      the
      Federal Bankruptcy Code; (j) any defense based upon Lender's election, in any
      proceeding instituted under the Federal Bankruptcy Code, of the application
      of
      Section 111 l(b)(2) of the Federal Bankruptcy Code or any successor statute;
      

    (k)
      any defense based upon any borrowing or any grant of a security interest under
      Section 364 of the Federal Bankruptcy Code; (1) relief from any applicable
      valuation or appraisement laws; and (r) any defense based upon the application
      by Borrower of the proceeds of the Loan for purposes other than the purposes
      represented by Borrower to Lender or intended or understood by Lender or
      MPLP.
      MPLP
      agrees that the payment and performance of all obligations due under the
      Security Instrument or any of the other Loan Documents or any part thereof
      or
      other act which tolls any statute of limitations applicable to the Security
      Instrument or the other Loan Documents shall similarly operate to toll the
      statute of limitations applicable to MPLP's liability 

     

    hereunder.
      

     

    Without
      limiting the generality of the foregoing or any other provision hereof, MPLP
      further waives any and all rights and defenses that MPLP may have because
      Borrower's debt is secured by real property; this means, among other things,
      that: if Lender forecloses on any real property collateral pledged by Borrower,
      then (A) the amount of the debt may be reduced only by the price for which
      that
      collateral is sold at the foreclosure sale, even if the collateral is worth
      more
      than the sale price, and (B) MPLP shall have the obligation to contribute
      hereunder even if Lender, by foreclosing on the real property collateral, has
      destroyed any subrogation right of MPLP against Borrower or the Joint Venture.
      The foregoing sentence is an unconditional and irrevocable waiver of any rights
      and defenses MPLP may have because Borrower's debt is secured by real property.
      

     

    Without
      limiting the generality of the foregoing or any other provision
      hereof,
      MPLP
      expressly waives to the extent permitted by law any and all rights and defenses,
      including without limitation any rights of subrogation, reimbursement,
      indemnification and contribution, which might otherwise be available to MPLP
      under California Civil Code Sections 2787 to 2855, inclusive, 2899 and 3433,
      and
      under California Code of Civil Procedure Sections 580a, 580b, 580d and 726
      (or
      any of such sections), or any other jurisdiction to the extent the same are
      applicable to this Agreement or the agreements, covenants or obligations of
      MPLP
      hereunder. 

     

    9.
      Waiver of Rights of Subrogation. This Agreement is expressly for the benefit
      ofthe Borrower, the Lender, any Indemnified Party (as defined below), and
      theirrespective successors and assigns (collectively, the "Beneficiaries").
      The
      obligations of MPLP hereunder 

     

    [PSR:psr/ContingentContribution
      Agreement (Bottom Dollar) Cerritos LaSalle Bank Loan.DOC/122705/1039.023]
      4 

    shall
      be in addition to and shall not limit or in any way affect the obligations
      the
      Joint Venture under any existing or future guaranties unless said other
      guaranties are expressly modified or revoked in writing. Subject to Paragraph
      1
      of this Agreement, the obligations of MPLP hereunder are independent of the
      obligations of Borrower, and a separate action or actions may be brought by
      any
      Beneficiary against MPLP, whether or not actions are brought against Borrower,
      and whether or not Borrower is joined in any such action or actions against
      MPLP. MPLP expressly waives any and all rights of subrogation, reimbursement,
      indemnity, exoneration, contribution or any other claim which MPLP may now
      or
      hereafter have against the Joint Venture, the Borrower or any other Person
      (other than a direct or indirect partner in MPLP) directly or contingently
      liable for the payment or performance of the Security Instrument (including,
      without limitation, any property collateralizing the obligations under the
      Loan), arising from the existence or performance of this Agreement. MPLP further
      agrees that it will not enter into any agreement providing, directly or
      indirectly, for contribution, reimbursement or repayment by the Joint Venture,
      Borrower or any other Person (other than a direct or indirect partner in MPLP)
      on account of any payment by MPLP and further agrees that any such agreement,
      whether existing or hereafter entered into in violation hereof would be void.
      In
      furtherance, and not in limitation, of the preceding waiver, MPLP agrees that
      (i) any payment directly to the Lender by MPLP in satisfaction of its
      obligations pursuant to this Agreement shall be deemed a contribution by MPLP
      (as applicable) to the capital of the Joint Venture, and any such payment shall
      not cause MPLP to be a creditor of Borrower, or the Joint Venture, and (ii)
      MPLP
      shall not be entitled to, or shall receive, the return of any such capital
      contribution except to the extent permitted by the organizational documents
      of
      the Joint Venture. 

     

      10.
      Indemnification ofOther
      Parties. Subject to the Lender's requirement to first exercise its rights
      against the Property as provided in Paragraph 1 hereof, if, for any reason,
      Macquarie Office II LLC, the Joint Venture or Borrower or any affiliate thereof
      (each, an "Indemnified Party") is required by Lender to make any payment to
      the
      Lender or any contribution to Borrower with respect to the portion of the Loan
      for which a payment pursuant to this Agreement is required (collectively, an
      "Indemnified Party Outlay"), MPLP shall absolutely and unconditionally reimburse
      the Indemnified Party for the lesser of (i) the full amount of such Indemnified
      Party Outlay or (ii) the maximum amount MPLP would have been obligated to
      contribute under Paragraph 1 hereof had such payment not been made by the
      Indemnified Party. MPLP shall reimburse the Indemnified Party as required by
      this Paragraph 10 within sixty (60) days after receiving written notice of
      a
      Indemnified Party Outlay from the Indemnified Party. Any payments to an
      Indemnified Party hereunder shall for all purposes hereunder be treated as
      capital contributions by MPLP to the Joint Venture in accordance with the
      provisions of Paragraph 1 

      above.
      

    2  Effect
      of Waivers. MPLP warrants and agrees that each of the waivers set forth in
      this
      Agreement is made with MPLP's full knowledge of its significance and
      consequences, and that under the circumstances the waivers are reasonable.
      If
      any of said waivers shall hereafter be determined by a court of competent
      jurisdiction to be contrary to any applicable law or against public policy,
      such
      waivers shall be effective only to the maximum extent permitted by law.

    3  Rules
      of Construction. The word "Borrower" as used herein shall include the named
      Borrower and any other Person at any time assuming or otherwise becoming

    

    IPSR:psr/ContingentContribution
      Agreement (Bottom Dollar) Cerritos LaSalle Bank 

     

    Loan.
      DOC/122705/I
      039.023] 5 

    primarily
      liable for all or any part of the obligations of the named Borrower under the
      Security Instrument or any of the other Loan Documents. The term "Person" as
      used herein shall include any individual, corporation, partnership, limited
      liability company, trust or other legal entity of any kind whatsoever. When
      the
      context and construction so require, all words used in the singular herein
      shall
      be deemed to have been used in the plural and vice versa. All headings

    appearing
      in this Agreement are for convenience only and shall be disregarded in
      construing this Agreement. 

     

    1  Governin_
      Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
      THE
      LAWS OF THE STATE OF CALIFORNIA, EXCEPT TO THE EXTENT PREEMPTED BY FEDERAL
      LAWS.
      THE PARTIES CONSENT TO THE JURISDICTION OF ANY FEDERAL OR STATE COURT WITHIN
      THE
      STATE OF CALIFORNIA AND ALSO CONSENT TO SERVICE OF PROCESS BY ANY MEANS
      AUTHORIZED
      BY CALIFORNIA OR FEDERAL LAW. 

    2  Amendments.
      This
      Agreement shall not be modified, amended or terminated in a manner that is
      materially adverse to MPLP, Joint Venture or any Beneficiary without the written
      consent of MPLP, Joint Venture or such Beneficiary, as the case may be.

    3  Miscellaneous.
      The provisions of this Agreement shall bind and benefit the heirs, executors,
      administrators, legal representatives, successors and assigns of each party
      hereto and of each of the Beneficiaries. If any provision of this Agreement
      shall be determined by a court of competent jurisdiction to be invalid, illegal
      or unenforceable, that portion shall be deemed severed from this Agreement
      and
      the remaining parts shall remain in full force as though the invalid, illegal
      or
      unenforceable portion had never been part of this Agreement. 

    4  Counterparts.
      This Agreement may be executed in counterparts (including by facsimile) with
      the
      same effect as if all parties had signed the same document. All such
      counterparts shall be deemed an original, shall be construed together and shall
      constitute one and the 

    

    same
      instrument. 

     

    17.
      Release. The release of Borrower from all or any part of the indebtedness
      evidenced by the Loan for any reason (other than full payment of such
      indebtedness) or any other obligations under any of the Loan Documents (as
      defined in the Security Instrument) for any reason (other than the full
      performance thereof) shall not release MPLP or Joint Venture from liability
      under this Agreement, unless each Beneficiary consents to such a release of
      MPLP
      and Jonit Venture in writing. 

     

    [Signature
      Page Follows] 

     

    
      

      

        

        
          	
                  MPLP:

                
	 	 	 
	
                  MAGUIRE
                    PROPERTIES, L.P.,

                
	
                  a
                    Maryland limited partnership

                
	 	 	 
	
                  By:

                	
                  MAGUIRE
                    PROPERTIES, INC.,

                
	 	
                  a
                    Maryland corporation

                
	 	
                  its
                    general partner

                
	 	 	 
	 	
                  By:

                	
                  /s/
                    Mark T. Lammas

                
	 	 	
                  Name:
                    Mark T. Lammas

                
	 	 	
                  Title:
                    Senior Vice President

                
	 	 	 

        

        

        

        

        
          	
                  Joint
                    Venture:

                
	 	 	 
	
                  MAGUIRE
                    MACQUARIE OFFICE LLC

                
	
                  a
                    Delaware limited liability company

                
	 	 	 
	
                  By:

                	
                  Maguire
                    MO Manager, LLC

                
	 	
                  a
                    Delaware limited liability company

                
	 	 
	 	
                  By:

                	
                  Maguire
                    Properties, L.P.

                
	 	 	
                  a
                    Maryland limited partnership

                
	 	 	 
	 	
                  By:

                	
                  Maguire
                    Properties, Inc.

                
	 	 	
                  a
                    Maryland corporation

                
	 	 	 
	 	
                  By:

                	
                  /s/
                    Mark T. Lammas

                
	 	 	
                  Name:
                    Mark T. Lammas

                
	 	 	
                  Title:
                    Senior Vice President

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