Document:

Conditional Consent Agreement

 EXHIBIT 10.24 

CONDITIONAL CONSENT AGREEMENT 

THIS CONDITIONAL CONSENT AGREEMENT (this “Agreement”) is made as of this
10th day of June, 2010, by and between GLB ENCINO, LLC, a
Delaware limited liability company (“Borrower”), and SUNAMERICA LIFE INSURANCE COMPANY, an Arizona corporation (“Lender”). 

RECITALS: 

A. Lender made a loan to Borrower in the original principal amount of $43,000,000.00 (the “Loan”), as evidenced by a
certain Amended and Restated Promissory Note dated as of January 26, 2007, made payable by Borrower to the order of Lender (the “Note”), which Note is secured by an Amended and Restated Deed of Trust, Security Agreement,
Fixture Filing, Financing Statement and Assignment of Leases and Rents dated as of January 26, 2007 and filed in the official records of the Recorder’s Office of Los Angeles County, California at Document No. 20070203632 (the “Deed
of Trust”) encumbering certain real property in Los Angeles County, California, legally described in the Deed of Trust (the “Property”). The Note, the Deed of Trust and all other documents or instruments executed by the
Borrower to evidence or secure the Loan, all as amended, modified and supplemented from time to time, are referred to as the “Loan Documents”. 

B. Morgan Stanley Real Estate Fund V U.S, L.P., a Delaware limited partnership (“Existing Guarantor”) has guaranteed
certain obligations of Borrower with respect to the Loan pursuant to an Amended and Restated Guaranty Agreement dated as of January 26, 2007 (the “Existing Guaranty”, and together with the Amended and Restated Environmental
Indemnity Agreement dated as of January 26, 2007 executed by Existing Guarantor and Borrower (“Existing Environmental Indemnity”) and any other documents or instruments executed by Existing Guarantor in connection with the Loan
(collectively, the “Existing Guarantor Documents”). 
 C. As of June 1, 2010, the outstanding principal
balance of the Loan is $43,000,000.00. In connection with the modifications provided for herein, upon the IPO Closing Time (as defined below), certain modifications as described herein shall be made to the terms of the Loan. 

D. Borrower has notified Lender of certain contemplated transactions described in: (a) that certain Contribution Agreement dated as
of February 15, 2010 among Hudson Pacific Properties, L.P., a Maryland limited partnership (“Operating Partnership”), Hudson Pacific Properties, Inc., a Maryland corporation (“REIT”), Glenborough Fund XIV,
L.P., a Delaware limited partnership (“Contributor”) and Glenborough Acquisition, LLC, a Delaware limited liability company and general partner of Contributor (“Glenborough GP”); and, (b) those sections
entitled “Formation Transactions” and “Concurrent Private Placement” (collectively with the transactions described in the Contribution Agreement, the “Formation Transactions”) of that certain preliminary
Prospectus of the REIT, a copy of which is contained in that certain Prospectus filed February 16, 2010 with the United States Securities and Exchange Commission (the “SEC”), as amended by that certain Amendment No. 1 to
Prospectus filed April 9, 2010 

 
with the SEC (as amended, restated, supplemented or otherwise modified as of the date hereof and from time to time hereafter, “Prospectus”). In connection with the Formation
Transactions, there will be an initial public offering (the “IPO”) of shares in the REIT. Pursuant to the Formation Transactions, the Operating Partnership intends to acquire, directly or indirectly, all of the issued and
outstanding membership interests in the Borrower. The date and time as of which the proceeds of the IPO have been received by the REIT is sometimes referred to herein as the “IPO Closing Time.” 

E. Borrower has requested, and Lender has agreed, to consent to the Formation Transactions and the change in ownership and control of
Borrower resulting from the Formation Transactions, upon the terms and conditions set forth in this Agreement. 
 F. Borrower
has requested, and Lender has agreed, upon the conditions referenced in this Agreement, effective upon the IPO Closing Time, to release the Existing Guarantor under the Existing Guarantor Documents, other than for obligations that may exist or arise
under the Existing Guarantor Documents by reason of any event or circumstance that occurred or existed prior to the IPO Closing Time, provided that Borrower delivers to the Lender a Guaranty Agreement (the “Replacement Guaranty”)
and an Environmental Indemnity Agreement (the “Replacement Environmental Indemnity”) executed by the Operating Partnership (in such capacity as guarantor or indemnitor, “Replacement Guarantor”) in favor of Lender,
dated on or about the IPO Closing Time and effective as of the IPO Closing Time, in substantially the forms attached as Exhibit A hereto (collectively, the “Replacement Guarantor Documents”). 

G. Capitalized terms used but not defined in this Agreement have the meanings given to such terms in the Deed of Trust. 

AGREEMENTS: 

NOW, THEREFORE, the Borrower and the Lender agree effective upon the IPO Closing Time as follows: 

Section 1. Reaffirmation of Loan. Borrower reaffirms all of its obligations under the Loan Documents, and Borrower
acknowledges that its has no claims, offsets or defenses with respect to the payment of sums due under the Note or any other Loan Document. 

Section 2. Lender’s Consent to Change in Control: Conditions to Consent. 

(a) Conditional Consent. Pursuant to Section 5.4(a) of the Deed of Trust, and subject to the conditions set
forth in this Agreement, Lender hereby consents to (i) the Formation Transactions (ii) and the issuance and transfer of public shares in the REIT and general and limited partnership interests in the Operating Partnership in connection with
the Formation Transactions and the IPO, (iii) the direct or indirect contribution of 100% of the membership interests in Borrower to the Operating Partnership, in one transaction or by a series of transactions, resulting in the Operating
Partnership or a wholly-owned subsidiary thereof owning, directly or indirectly, 100% of the membership interests in Borrower, (iv) the change in ownership and control resulting from items (i), (ii) and (iii) above, and (iv) such
modifications to Borrower’s organizational documents or the organizational documents of any direct or indirect owner of Borrower that are 

 

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necessary or desirable to implement the Formation Transactions and the IPO. Notwithstanding anything herein to the contrary, Borrower shall have no obligation to complete the Formation
Transactions or the IPO. 
 (b) Conditions to Consent. The consent in subsection (a) above is
conditioned upon the following: 
 (i) the Formation Transactions and the IPO shall be completed in all material
respects by August 15, 2010; 
 (ii) there shall be no default or Event of Default continuing under the Loan
Documents as of the IPO Closing Time; 
 (iii) as of IPO Closing Time, Borrower shall have delivered to Lender a
Certificate Concerning Governing Documents in the form attached hereto as Exhibit B (“Certificate Concerning Governing Documents”; 

(iv) as of IPO Closing Time, Borrower shall have paid to Lender a transfer fee in the amount of $430,000.00; 

(v) as of IPO Closing Time, Victor J. Coleman, Howard Stern and Richard Fried will serve on the board of directors of the
REIT and Victor J. Coleman and Howard Stern will (A) maintain an equity interest in either the REIT or the Operating Partnership, and (B) have senior management operating responsibilities for the REIT and Operating Partnership; 

(vi) as of the IPO Closing Time, the Operating Partnership shall, directly or indirectly, own 100% of the outstanding
membership interests in Borrower; 
 (vii) as of the IPO Closing Time, Borrower shall have delivered to Lender a
Certificate of Confirmation in the form attached hereto as Exhibit C (“Certificate of Confirmation”); 

(viii) as of the IPO Closing Time, the Operating Partnership shall have delivered to the Lender a fully-executed original
of each of the Replacement Guarantor Documents dated effective as of the IPO Closing Time; 
 (ix) as of the IPO
Closing Time, the net worth of the Operating Partnership shall be equal to or greater than $200,000,000.00, it being agreed that the “net worth” of the Operating Partnership shall be equal to the excess of assets over liabilities, taking
into account the effect of the IPO and related transactions, and, within thirty (30) days following the IPO Closing Time, the Operating Partnership shall deliver to Lender an unaudited consolidated balance sheet of the Operating Partnership as
of the IPO Closing Time evidencing such net worth; and 
 (x) Borrower shall have paid or caused the payment of
all costs and expenses incurred by Lender in connection with this Agreement and review and 
  

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approval of the items set forth in this Section 2 and Section 3 below (including, without limitation, Lender’s outside counsel attorneys’ fees and expenses) promptly following
Borrower’s receipt of Lender’s statement therefor. 
 Section 3. Lender’s Consent to Release of Existing
Guarantor: Conditions to Consent. Lender hereby agrees that upon the occurrence of the following conditions, the Existing Guarantor shall automatically be released from any and all liabilities and obligations to Lender under the Existing
Guarantor Documents, other than for obligations that may exist or arise under the Existing Guarantor Documents by reason of any event or circumstance that occurred or existed prior to the IPO Closing Time (herein, the “Non-Released
Obligations”): 
 (a) the IPO and the Formation Transactions shall have occurred; and 

(b) each of the conditions set forth in Section 2 above have been satisfied. 

Borrower’s delivery to Lender of a Certificate of Confirmation in the form attached hereto as Exhibit C as required pursuant
to Section 2 above, together with the delivery of (1) an executed original of the Certificate Concerning Governing Documents, (2) executed originals of each of the Replacement Guarantor Documents, and (3) payment of all costs and
expenses described in Section 2(b)(x), shall serve as conclusive evidence of satisfaction of all of the conditions Section 2(b) and Section 3 above, absent manifest error. The Existing Guarantor shall be an express third-party
beneficiary of this Section 3. 
 Section 4. Modification of Loan Documents. Effective upon the IPO Closing
Time, the Loan Documents are hereby amended as follows: 
 (a) Guaranty and Environmental Indemnity. From
and after the IPO Closing Time and the delivery of the Guarantor Documents, all references in the Loan Documents to (i) the “Guaranty” shall mean the Existing Guaranty (but only with respect to the Non- Released Obligations) and the
Guaranty, as defined in this Agreement, and (ii) the “Guarantor” shall mean the Existing Guarantor (but only with respect to the Non- Released Obligations) and Guarantor, as defined in this Agreement, and
(iii) “Environmental Indemnity” shall mean the Existing Environmental Indemnity (but only with respect to the Non-Released Obligations) and the Environmental Indemnity, as defined in this Agreement. 

(b) Additional Definitions. From and after the IPO Closing Time, the following definitions shall be added to
Article 1 of the Deed of Trust: 
 “1.25 Affiliate: Any entity that, directly or indirectly
(including through one or more intermediaries), Controls, is Controlled by or is under common Control with the Operating Partnership. 

1.26 Control: Possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of an entity, whether through the ability to exercise voting power, by contract or otherwise. 
  

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 1.27 Operating Partnership: Hudson Pacific Properties, L.P., a
Maryland limited partnership. 
 1.28 REIT: Hudson Pacific Properties, Inc., a Maryland corporation.”

 (c) Permitted Transfers. From and after the IPO Closing Time, Section 5.4(b) of the Deed of Trust
shall be deleted and replaced with the following: 
 “(b) Notwithstanding the provisions of
Section 5.4(a) to the contrary, Beneficiary’s prior written consent shall not be required for the following transfers (each a “Permitted Transfer”): 

(i) transfers of securities or other interests in the REIT in the ordinary course of business over a recognized stock
exchange, provided that as a result of such transfer, and after giving effect thereto, (A) no substantial portion of the business of the REIT or the Operating Partnership shall be discontinued, and (B) no substantial portion of the assets
of the REIT or the Operating Partnership shall be disposed of in connection therewith; 
 (ii) transfers or
issuances of securities or other interests in the REIT in the ordinary course of business as part of an incentive compensation program for employees or directors of (1) the REIT, (2) the Operating Partnership, or (3) any Affiliate of
the Operating Partnership, provided that as a result of such transfer or issuance, and after giving effect thereto, (A) no substantial portion of the business of the REIT or the Operating Partnership shall be discontinued, and (B) no
substantial portion of the assets of the REIT or the Operating Partnership shall be disposed of in connection therewith; 

(iii) provided that all of the Transfer Conditions (defined below) are satisfied, each of the following transfers:

 (A) transfers of direct or indirect interests in Trustor to an Affiliate of the Operating Partnership,
provided that after giving effect to any such transfer, the REIT directly or indirectly Controls such Affiliate; 

(B) issuances and transfers (including pledges) of securities, options, warrants, or other interests in the REIT, whether
directly or indirectly; 
 (C) issuances and transfers (including pledges) of partnership interests or other
interests in the Operating Partnership, whether directly or indirectly; and 
  

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 (D) a merger, consolidation or exchange of securities to which the REIT or
the Operating Partnership is a party, provided that, after giving effect to any such transaction, the surviving entity shall be the REIT or the Operating Partnership, as applicable. 

(c) “Transfer Conditions” means that, after giving effect to the proposed transfer or issuance, all of the
following will be true and correct: 
 (i) the REIT continues to (A) Control, directly or indirectly, each
of the Operating Partnership and Trustor, and (B) own, directly or indirectly, at least 51% of the ownership interests in the Operating Partnership that the REIT owned, directly or indirectly, as of the IPO Closing Time; 

(ii) the Operating Partnership will continue to own, directly or indirectly, at least 51% of the ownership interests in
Trustor; 
 (iii) as a result of the transfer or issuance (A) no substantial portion of the business of the
REIT or the Operating Partnership shall be discontinued, and (B) no substantial portion of the assets of the REIT or the Operating Partnership shall be disposed of in connection therewith; 

(iv) the IPO Directors shall continue to constitute a majority of the Board of Directors of the REIT. For purposes hereof,
“IPO Director” means an individual who is (A) a member of the Board of Directors of the REIT as of the IPO Closing Time, or (B) a member of the Board of Directors of the REIT who either was nominated for membership on such
Board of Directors or affirmatively endorsed for membership on such Board of Directors by at least a majority of the then IPO Directors (including any such IPO Director that qualifies as such pursuant to this clause (B)); and 

(v) neither the transfer nor the transferee or any of its constituents shall be in violation of any laws relating to
terrorism or money laundering, including without limitation, Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten
to Commit, or Support Terrorism, and the Bank Secrecy Act, as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as such laws have been or may hereafter be,
renewed, extended, amended or replaced, as evidenced by, among other 
  

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things, a certificate executed by such persons in form and substance satisfactory to Beneficiary.” 

(d) Management. From and after the IPO Closing Time, the term “Property Manager” set forth in
Section 4.23 shall mean the Operating Partnership or a wholly-owned subsidiary thereof (or another property manager approved by Beneficiary in its sole discretion), and “Management Agreement” shall mean a management agreement
between Trustor and Property Manager in a form delivered to, and approved by, Beneficiary. 
 (e) Financial
Statements. From and after the IPO Closing Time, Lender acknowledges and agrees that any requirement in the Loan Documents for the delivery of audited financial statements (but not Property operating statements or rent rolls) for the Borrower or
the Guarantor shall be deemed to be satisfied by the delivery of audited consolidated financial statements for the REIT for the applicable period. 

(f) Notices. From and after the IPO Closing Time, all notices under the Loan Documents shall be addressed as
follows: 
 If to Borrower: 

c/o Hudson Pacific Properties 

11601 Wilshire Boulevard, Suite 1600 

Los Angeles, California 90025 

Attn: Mark Lammas 

Telephone: (310) 445-5702 

Facsimile: (310) 445-5710 

with a copy to: 

Latham & Watkins LLP 

355 S. Grand Avenue 

Los Angeles, California 90071 

Attn: Brad Helms 

Telephone: (213) 891-8640 

Facsimile: (213) 891-8763 

If to Lender: 

SunAmerica Life Insurance Company 

1999 Avenue of the Stars,
38th Floor 

Los Angeles, California 90067-6022 

Attn: VP, Servicing – Commercial Mortgage Lending 

(g) Insurance Agreement. From and after the IPO Closing Time, the term “Insurance Agreement” (as set
forth in the Deed of Trust) shall mean that certain Agreement Concerning Insurance Requirements dated as of December 19, 2002, 

 

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executed by Trustor for the benefit of Beneficiary, as amended by the provisions of Section 9.22 of the Deed of Trust and as set forth on Exhibit E attached hereto. 

(h) No Other Modifications. Except as set forth in this Section 4, the Loan Documents remain unmodified.

 Section 5. Representations of Borrower. Borrower hereby represents and warrants that, as of the date hereof and
as of the IPO Closing Time upon giving effect to this Agreement, (a) the Loan Documents to which Borrower is a party and this Agreement constitute the legal, valid and binding obligations of Borrower enforceable in accordance with their terms,
subject to bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium and other laws applicable to creditors’ rights or the collection of debtors’ obligations generally; (b) the consummation of the Formation
Transactions and the execution and delivery of this Agreement and all documents contemplated hereby to be executed by Borrower do not contravene, result in a breach of or constitute a default under any deed of trust, deed to secure debt, mortgage,
loan agreement, indenture or other contract, agreement or undertaking to which Borrower is a party or by which Borrower or any of its properties may be bound, including, without limitation, Borrower’s organizational documents (nor would such
execution and delivery constitute such a default with the passage of time or the giving of notice or both) and, do not violate or contravene any law, order, decree, rule or regulation to which Borrower is subject; (c) to Borrower’s
knowledge there exists no uncured default or Event of Default under the Loan Documents; and (d) there are no offsets, claims or defenses to the Loan Documents. 

Section 6. Incorporation. This Agreement shall form a part of each Loan Document, and all references in any Loan Document to
any other given Loan Document shall mean that document as modified by Section 4 above. 
 Section 7. No
Prejudice; Reservation of Rights. This Agreement shall not prejudice any rights or remedies of Lender under the Loan Documents as modified hereby, all of which are hereby reserved. The consent contained in this Agreement shall not be deemed a
consent by Lender to any future transfer, reorganization, recapitalization, conveyance, assignment or any other action for which Lender’s consent is required under the Loan Documents, other than the Formation Transactions, nor shall such
consent constitute a contractual obligation to consent to any future transactions or any waiver of any requirement in the Loan Documents requiring Lender’s consent, other than the Formation Transactions. 

Section 8. No Impairment. Except as amended by Section 4 above, the Loan Documents shall each remain unaffected
by this Agreement and all such documents shall remain in full force and effect and unmodified. The Deed of Trust shall continue to secure payment and performance of the obligations of Borrower under the Loan Documents as specifically modified and
supplemented pursuant to Section 4 of this Agreement, and nothing in this Agreement shall impair the lien of the Deed of Trust. 

Section 9. Integration. The Loan Documents, including this Agreement (a) integrate all the terms and conditions
mentioned in or incidental to the Loan Documents; (b) supersede all oral negotiations and prior and other writings with respect to their subject matter; and (c) are intended by the parties as the final expression of the agreement with
respect to the terms and 
  

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conditions set forth in those documents and as the complete and exclusive statement of the terms agreed to by the parties. If there is any conflict between the terms, conditions and provisions of
this Agreement and those of any other agreement or instrument, including any of the other Loan Documents, the terms, conditions and provisions of this Agreement shall prevail. 

Section 10. Miscellaneous. This Agreement and any attached consents or exhibits requiring signatures may be executed in
counterparts (and delivered via facsimile or through electronic delivery of a PDF file), and all such counterparts and documents delivered via facsimile or through electronic delivery of a PDF file shall constitute but one and the same document. If
any court of competent jurisdiction determines any provision of this Agreement or any of the other Loan Documents to be invalid, illegal or unenforceable, that portion shall be deemed severed from the rest, which shall remain in full force and
effect as though the invalid, illegal or unenforceable portion had never been a part of the Loan Documents. This Agreement shall be governed by the laws of the State of California, without regard to the choice of law rules of that State. 

[Balance of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the day and year first above written. 
  

			
	BORROWER:
	
	GLB ENCINO, LLC, a Delaware limited liability company
		
	By:	 	
 

	Name:	 	
 

	Title:	 	
             

	
	LENDER:
	
	 SUNAMERICA LIFE INSURANCE COMPANY,

an Arizona corporation

		
	By:	 	AIG Asset Management (U.S.), LLC, its investment adviser
		
	By:	 	
 

	Name:	 	 Maria S. Campagna

	Title:	 	 Vice President

 

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 EXHIBIT A 

Form of Guaranty 

GUARANTY AGREEMENT 

This GUARANTY AGREEMENT (this “Guaranty”) is made as of
            , 2010 and effective as of the IPO Closing Time (as defined below), by HUDSON PACIFIC PROPERTIES, L.P., a Maryland limited partnership (the “Guarantor”),
in favor of SUNAMERICA LIFE INSURANCE COMPANY, an Arizona corporation (“Lender”). 
 RECITALS 

 A. Lender made a loan to Borrower in the original principal amount of $43,000,000.00 (the “Loan”), as
evidenced by a certain Amended and Restated Promissory Note dated as of January 26, 2007, made payable by Borrower to the order of Lender (the “Note”), which Note is secured by an Amended and Restated Deed of Trust, Security
Agreement, Fixture Filing, Financing Statement and Assignment of Leases and Rents dated as of January 26, 2007 and filed in the official records of the Recorder’s Office of Los Angeles County, California at Document No. 20070203632 (the
“Deed of Trust”) encumbering certain real property in Los Angeles County, California, legally described in the Deed of Trust (the “Property”). The Note, the Deed of Trust and all other documents or instruments
executed by the Borrower to evidence or secure the Loan, all as amended, modified and supplemented from time to time, are referred to as the “Loan Documents”. 

B. Morgan Stanley Real Estate Fund V U.S, L.P., a Delaware limited partnership (“Existing Guarantor”) has guaranteed
certain obligations of Borrower with respect to the Loan pursuant to an Amended and Restated Guaranty Agreement dated as of January 26, 2007 (the “Existing Guaranty”). 

C. Borrower and Lender have entered into that certain Conditional Consent Agreement dated as of June     ,
2010 (the “Consent Agreement”), pursuant to which Lender has consented to certain Formation Transactions (as defined therein), subject to the terms and conditions of the Consent Agreement. In connection with the Formation
Transactions, there has been or will be an initial public offering (the “IPO”) of shares in Hudson Pacific Properties, Inc., a Maryland corporation (the “REIT”). Pursuant to the Formation Transactions, Hudson
Pacific Properties, L.P., a Maryland limited partnership (the “Operating Partnership”) has been formed as the operating partnership and principal subsidiary of the REIT. The Operating Partnership has acquired all of the issued and
outstanding membership interests in the Borrower pursuant to a certain Contribution Agreement made by and among the members of Borrower and the Operating Partnership, and Borrower has become a wholly-owned subsidiary of the Operating Partnership.
The date and time as of which the proceeds of the IPO have been received by the REIT is sometimes referred to herein as the “IPO Closing Time.” 

D. Pursuant to the Consent Agreement, Lender has also consented to the release of Existing Guarantor under the Existing Guaranty for any
events occurring subsequent to the IPO 
  

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Closing Time, provided that, among other things, Guarantor execute and deliver this Guaranty to Lender. 

E. The Guarantor owns all outstanding membership interests in the Borrower, and having a financial interest in the Borrower and the
Property, has agreed to execute and deliver this Guaranty to the Lender upon the terms and conditions as are hereinafter set forth. 

AGREEMENT 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby
agrees as follows: 
 1. Guaranty. Guarantor hereby guarantees absolutely, primarily, and irrevocably, payment and
performance of all obligations for which Borrower has, or may incur, personal liability to Lender under Section 18 of the Note from and after the date of this Guaranty (collectively, the “Obligations”). 

2. Guaranty is Independent and Absolute. The obligations of Guarantor hereunder are independent of the obligations of Borrower and
of any other person who may become liable with respect to the Obligations. Guarantor is jointly and severally liable with Borrower and with any other guarantor for the full and timely payment and performance of all of the Obligations. Guarantor
expressly agrees that a separate action or actions may be brought and prosecuted against Guarantor (or any other guarantor), whether or not any action is brought against Borrower, any other guarantor or any other person for any Obligations
guaranteed hereby and whether or not Borrower, any other guarantor or any other persons are joined in any action against Guarantor. Guarantor further agrees that Lender shall have no obligation to proceed against any security for the Obligations
prior to enforcing this Guaranty against Guarantor, and that Lender may pursue or omit to pursue any and all rights and remedies Lender has against any person or with respect to any security in any order or simultaneously or in any other manner. All
rights of Lender and all obligations of Guarantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Note or any other Loan Document, and (b) any other circumstances which might
otherwise constitute a defense available to, or a discharge of Borrower in respect of, the Obligations. 
 3. Authorizations
to Lender. Guarantor authorizes Lender, without notice or demand and without affecting Guarantor’s liability hereunder, from time to time (a) to renew, extend, accelerate or otherwise change the time for payment of, change, amend,
alter, cancel, compromise or otherwise modify the terms of the Note, including increasing the rate or rates of interest thereunder agreed to by Borrower, and to grant any indulgences, forbearances, or extensions of time; (b) to renew, extend,
change, amend, alter, cancel, compromise or otherwise modify any of the terms, covenants, conditions or provisions of any of the Loan Documents or any of the Obligations; (c) to apply any security and direct the order or manner of sale thereof
as Lender, in Lender’s discretion, may determine; (d) to proceed against Borrower, Guarantor or any other guarantor with respect to any or all of the Obligations without first foreclosing against any security therefor; (e) to
exchange, release, surrender, impair or otherwise deal in any manner with, or waive, release or subordinate any security interest in, any security for the Obligations; (f) to release or substitute Borrower, any other guarantors, endorsers, or
other parties who may 
  

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be or become liable with respect to the Obligations, without any release being deemed made of Guarantor or any other such person; and (g) to accept a conveyance or transfer to Lender of all
or any part of any security in partial satisfaction of the Obligations, or any of them, without releasing Borrower, Guarantor, or any other guarantor, endorser or other party who may be or become liable with respect to the Obligations, from any
liability for the balance of the Obligations. 
 4. Application of Payments Received by Lender. Any sums of money Lender
receives from or for the account of Borrower may be applied by Lender to reduce any of the Obligations or any other liability of Borrower to Lender, as Lender in Lender’s discretion deems appropriate. 

5. Waivers by Guarantor. In addition to all waivers expressed in any of the Loan Documents, all of which are incorporated herein
by Guarantor: 
 (a) Guarantor hereby waives (1) presentment, demand, protest and notice of protest, notice of dishonor and
of non-payment, notice of acceptance of this Guaranty, and diligence in collection; (2) notice of the existence, creation, or incurring of any new or additional Obligations under or pursuant to any of the Loan Documents; (3) any right to
require Lender to proceed against, give notice to, or make demand upon Borrower; (4) any right to require Lender to proceed against or exhaust any security or to proceed against or exhaust any security in any particular order; (5) any
right to require Lender to pursue any remedy of Lender; (6) any right to direct the application of any security held by Lender; (7) any right of subrogation, any right to enforce any remedy which Lender may have against Borrower, any right
to participate in any security now or hereafter held by Lender and any right to reimbursement from the Borrower for amounts paid to Lender by Guarantor until all of the Secured Obligations (as defined in the Deed of Trust) have been satisfied;
(8) benefits, if any, of Guarantor under any anti-deficiency statutes or single-action legislation or judicial interpretation thereof; (9) any defense arising out of any disability or other defense of Borrower, including bankruptcy,
dissolution, liquidation, cessation, impairment, modification, or limitation, from any cause, of any liability of Borrower, or of any remedy for the enforcement of such liability; (10) any statute of limitations affecting the liability of
Guarantor hereunder; (11) any right to plead or assert any election of remedies by Lender; (12) any other defenses available to a surety under applicable law; (13) notice of any adverse change in the financial condition of Borrower or
of any other fact that might increase Guarantor’s risk hereunder; (14) notice of any event of default under the Loan Documents; and (15) all other notices (except if such notice is specifically required to be given to Guarantor
hereunder or under any Loan Document to which Guarantor is a party) and demands to which Guarantor might otherwise be entitled. 

(b) Guarantor hereby waives its right, under Sections 2845 or 2850 of the California Civil Code, or otherwise, to require Lender to
institute suit against, or to exhaust any rights and remedies which Lender has or may have against, Borrower or any third party, or against any collateral for the Obligations provided by Borrower, Guarantor, or any third party. In this regard,
Guarantor agrees that it is bound to the payment of all Obligations, whether now existing or hereafter accruing as fully as if such Obligations were directly owing to Lender by Guarantor. Guarantor further waives any defense arising by reason of any
disability or other defense (other than the defense that the Obligations shall have been fully and finally performed 

 

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and indefeasibly paid) of Borrower or by reason of the cessation from any cause whatsoever of the liability of Borrower in respect thereof. 

(c) Guarantor hereby waives: (1) any rights to assert against Lender any defense (legal or equitable), set-off, counterclaim, or
claim which Guarantor may now or at any time hereafter have against Borrower or any other party liable to Lender; (2) any defense, set-off, counterclaim, or claim, of any kind or nature, arising directly or indirectly from the present or future
lack of perfection, sufficiency, validity, or enforceability of the Obligations or any security therefor; (3) any defense Guarantor has to performance hereunder, and any right Guarantor has to be exonerated, provided by Sections 2819, 2822, or
2825 of the California Civil Code, or otherwise, arising by reason of: any claim or defense based upon an election of remedies by Lender; the impairment or suspension of Lender’s rights or remedies against Borrower; the alteration by Lender of
the Obligations; any discharge of Borrower’s obligations to Lender by operation of law as a result of Lender’s intervention or omission; or the acceptance by Lender of anything in partial satisfaction of the Obligations; (4) the
benefit of any statute of limitations affecting Guarantor’s liability hereunder or the enforcement thereof, and any act which shall defer or delay the operation of any statute of limitations applicable to the Obligations shall similarly operate
to defer or delay the operation of such statute of limitations applicable to Guarantor’s liability hereunder. 
 (d)
Guarantor hereby waives any right of subrogation Guarantor has or may have as against Borrower with respect to the Obligations. In addition, Guarantor hereby waives any right to proceed against Borrower, now or hereafter for contribution, indemnity,
reimbursement, and any other suretyship rights and claims, whether direct or indirect, liquidated or contingent, whether arising under express or implied contract or by operation of law, which Guarantor may now have or hereafter have as against
Borrower with respect to the Obligations. Guarantor also hereby waives any rights to recourse to or with respect to any asset of Borrower. Guarantor agrees that in light of the immediately foregoing waivers, the execution of this Guaranty shall not
be deemed to make Guarantor a “creditor” of Borrower, and that for purposes of Sections 547 and 550 of the Bankruptcy Code Guarantor shall not be deemed a “creditor” of Borrower. 

(e) Guarantor waives all rights and defenses arising out of an election of remedies by Lender, even though that election of remedies,
such as a non-judicial foreclosure with respect to security for a guaranteed obligation, has destroyed Guarantor’s rights of subrogation and reimbursement against the principal by the operation of Section 580d of the California Code of
Civil Procedure or otherwise. Guarantor acknowledges and agrees that, as a result of the foregoing sentence, Guarantor is knowingly waiving in advance a complete or partial defense to this Guaranty arising under CCP Sections 580d or 580a and based
upon Lender’s election to conduct a private non-judicial foreclosure sale, even though such election would destroy, diminish, or affect Guarantor’s rights of subrogation against Borrower or any other party and Guarantor’s rights to
pursue Borrower or such other party for reimbursement contribution, indemnity, or otherwise. 
 (f) WITHOUT LIMITING THE
GENERALITY OF ANY OTHER WAIVER OR OTHER PROVISION SET FORTH IN THIS GUARANTY, GUARANTOR HEREBY WAIVES AND AGREES NOT TO ASSERT ANY AND ALL BENEFITS OR 

 

 A-4 

 
DEFENSES ARISING DIRECTLY OR INDIRECTLY UNDER ANY ONE OR MORE OF CALIFORNIA CIVIL CODE SECTIONS 2799, 2808, 2809, 2810, 2815, 2819, 2820, 2821, 2822, 2825, 2839, 2845, 2848, 2849, 2850, 2899 and
3433, CCP SECTIONS 580a, 580b, 580c, 580d, AND 726, AND CHAPTER 2 OF TITLE 14 OF THE CALIFORNIA CIVIL CODE. 
 (g) Guarantor
waives all rights and defenses that Guarantor may have because the Borrower’s debt is secured by real property. This means, among other things, (1) Lender may collect from the Guarantor without first foreclosing on any real or personal
property collateral pledged by the Borrower; (2) if Lender forecloses on any real property collateral pledged by the Borrower: (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) Lender may collect from the Guarantor, even if Lender, by foreclosing on the real property collateral, has destroyed any right the Guarantor may have to collect from the
Borrower. This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor may have because the Borrower’s debt is secured by real property. 

6. Subordination by Guarantor. Guarantor hereby agrees that any indebtedness of Borrower to Guarantor, whether now existing or
hereafter created, shall be and is hereby subordinated to the indebtedness of Borrower to Lender under the Loan Documents. At any time during which a Default or Event of Default shall exist, Guarantor shall not accept or seek to receive any amounts
from Borrower on account of any indebtedness of Borrower to Guarantor. 
 7. Bankruptcy Reimbursements. Guarantor hereby
agrees that if all or any part of the Obligations paid to Lender by Borrower or any other party liable for payment and satisfaction of the Obligations (other than Guarantor) are recovered from Lender in any bankruptcy proceeding, Guarantor shall
reimburse Lender immediately on demand for all amounts of such Obligations so recovered from Lender, together with interest thereon at the default rate set forth in the Note from the date such amounts are so recovered until repaid in full to Lender,
and, for this purpose, this Guaranty shall survive repayment of the Loan. 
 8. Net Worth and Liquid Assets Covenant.
Until all of the Obligations have been paid in full, Guarantor shall maintain (i) a Net Worth at least equal to $100,000,000.00 and (ii) Liquid Assets having a market value of at least $5,000,000.00. Guarantor’s Net Worth and Liquid
Assets shall be set forth in reasonable detail in the financial statements required to be delivered to Lender under this Guaranty. The term “Net Worth” shall mean, as of a given date, (x) the total assets of Guarantor as of such date
less (y) such Guarantor’s total liabilities as of such date, determined in accordance with generally accepted accounting principles, consistently applied. The term “Liquid Assets” shall mean assets in the form of cash, cash
equivalents, obligations of (or fully guaranteed as to principal and interest by) the United States or any agency or instrumentality thereof (provided the full faith and credit of the United States supports such obligation or guarantee),
certificates of deposit issued by a commercial bank having net assets of not less than $500,000,000.00, securities listed and traded on a recognized stock exchange or traded over the counter and listed in the National Association of Securities
Dealers Automatic Quotations, or liquid debt instruments that have a readily ascertainable value and are regularly traded in a recognized financial market. 
  

 A-5 

 9. Jurisdiction and Venue. Guarantor hereby submits itself to the jurisdiction and
venue of any federal court located in the State of California or any state court located in Los Angeles County, California in connection with any action or proceeding brought for enforcement of Guarantor’s obligations hereunder, and hereby
waives any and all personal or other rights under the law of any other country or state to object to jurisdiction within such locations for purposes of litigation to enforce such obligations. Guarantor agrees that service of process upon Guarantor
shall be complete upon delivery thereof in any manner permitted by law. 
 10. Financial Statements. In addition to those
obligations set forth in any of the Loan Documents, for so long as any of the Obligations remain unsatisfied, within 90 days after the end of each calendar year, Guarantor shall furnish to Lender such financial statements of Guarantor for such
calendar year as Lender may request, in such detail as Lender may request, certified by Guarantor as being true and correct in all respects. Guarantor shall also furnish to Lender copies of its federal and state income tax returns for the preceding
year within ten (10) days of the filing thereof with the appropriate governmental agencies. 
 11. Assignability.
This Guaranty shall be binding upon Guarantor and Guarantor’s heirs, representatives, successors, and assigns and shall inure to the benefit of Lender and Lender’s successors and assigns. This Guaranty shall follow the Note and other Loan
Documents which are for the benefit of Lender, and, in the event the Note and other Loan Documents are negotiated, sold, transferred, assigned, or conveyed by Lender in whole or in part, this Guaranty shall be deemed to have been sold, transferred,
assigned, or conveyed by Lender to the holder or holders of the Note and other Loan Documents, with respect to the Obligations contained therein, and such holder or holders may enforce this Guaranty as if such holder or holders had been originally
named as Lender hereunder. 
 12. Payment of Costs of Enforcement. In the event any action or proceeding is brought to
enforce this Guaranty, Guarantor shall pay all costs and expenses of Lender in connection with such action or proceeding, including, without limitation, all reasonable attorneys’ fees incurred by Lender. 

13. Notices. Any notice required or permitted to be given by Guarantor or Lender under this Guaranty shall be in writing and will
be deemed given (a) upon personal delivery, (b) on the first business day after receipted delivery to a courier service which guarantees next-business day delivery, or (c) on the third business day after mailing, by registered or
certified United States mail, postage prepaid, in any case to the appropriate party at its address set forth below: 
 If to
Guarantor: 
 Hudson Pacific Properties, L.P. 

11601 Wilshire Boulevard, Suite 1600 

Los Angeles, California 90025 

Attn: Mr. Mark Lammas 
  

 A-6 

 If to Lender: 

SunAmerica Life Insurance Company 

1999 Avenue of the Stars,
38th Floor 

Los Angeles, California 90067-6022 

Attn: VP, Servicing – Commercial Mortgage Lending 

Either party may change such party’s address for notices or copies of notices by giving notice to the other party in accordance with this
Section 13. 
 14. Reinstatement of Obligations. If at any time all or any part of any payment made by Guarantor or
received by Lender from Guarantor under or with respect to this Guaranty is or must be rescinded or returned for any reason whatsoever (including, but not limited to, the insolvency, bankruptcy or reorganization of any Guarantor), then the
obligations of Guarantor hereunder shall, to the extent of the payment rescinded or returned, and to the extent permitted by law, be deemed to have continued in existence, notwithstanding such previous payment made by Guarantor, or receipt of
payment by Lender, and the obligations of Guarantor hereunder shall continue to be effective or be reinstated, as the case may be, as to such payment, all as though such previous payment by Guarantor had never been made. 

15. Severability of Provisions. If any provision hereof or of any other Loan Document shall, for any reason and to any extent, be
invalid or unenforceable, then the remainder of the document in which such provision is set forth, the application of the provision to other persons, entities or circumstances, and any other document referred to herein shall not be affected thereby
but instead shall be enforceable to the maximum extent permitted by law. 
 16. Joint and Several Obligation. If
Guarantor is more than one person or entity, then (a) all persons or entities comprising Guarantor are jointly and severally liable for all of the Obligations; (b) all representations, warranties, and covenants made by Guarantor shall be
deemed representations, warranties, and covenants of each of the persons or entities comprising Guarantor; (c) any breach, default or Event of Default by any of the persons or entities comprising Guarantor hereunder shall be deemed to be a
breach, default, or Event of Default of Guarantor; and (d) any reference herein contained to the knowledge or awareness of Guarantor shall mean the knowledge or awareness of any of the persons or entities comprising Guarantor. 

17. Waiver. Neither the failure of Lender to exercise any right or power given hereunder or to insist upon strict compliance by
Borrower, Guarantor, any other guarantor, or any other person with any of its obligations set forth herein or in any of the Loan Documents, nor any practice of Borrower or Guarantor at variance with the terms hereof or of any Loan Documents, shall
constitute a waiver of Lender’s right to demand strict compliance with the terms and provisions of this Guaranty. 
 18.
Certain Waivers. GUARANTOR, BY SIGNING THIS GUARANTY, AND LENDER, BY ACCEPTING IT, EACH KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR
COUNTERCLAIM BASED ON THIS GUARANTY, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS 
  

 A-7 

 
GUARANTY OR ANY LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR
LENDER AND GUARANTOR ENTERING INTO THE SUBJECT LOAN TRANSACTION. 
 19. Applicable Law. This Guaranty and the rights and
obligations of the parties hereunder shall be governed by and interpreted in accordance with the laws of the State of California. 

20. Confirmation of IPO Closing Time. Upon Lender’s request, Guarantor shall provide written confirmation to Lender of the
IPO Closing Time. 
 [Balance of Page Intentionally Left Blank] 

 

 A-8 

 IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the day and year first above
written. 
  

			
	GUARANTOR:
	
	 HUDSON PACIFIC PROPERTIES, L.P., a

Maryland limited partnership

		
	By:	 	Hudson Pacific Properties, Inc., a Maryland corporation, its general partner
		
	By:	 	  

	Name:	 	  

	Its:	 	  

  

 A-9 

 ENVIRONMENTAL INDEMNITY AGREEMENT 

THIS ENVIRONMENTAL INDEMNITY AGREEMENT (this “Agreement”), dated
            , 2010, and effective as of the IPO Closing Time (as defined in the Consent Agreement), is made by HUDSON PACIFIC PROPERTIES, L.P., a Maryland limited partnership
(“Indemnitor”), for the benefit of SUNAMERICA LIFE INSURANCE COMPANY, an Arizona corporation (“Lender”), and the other “Indemnitees,” as hereinafter defined. 

RECITALS 

A. Lender made a loan to GLB Encino, LLC, a Delaware limited liability company (“Borrower”) in the original principal
amount of $43,000,000.00 (the “Loan”), as evidenced by a certain Amended and Restated Promissory Note dated as of January 26, 2007, made payable by Borrower to the order of Lender (the “Note”), which Note is
secured by an Amended and Restated Deed of Trust, Security Agreement, Fixture Filing, Financing Statement and Assignment of Leases and Rents dated as of January 26, 2007 and filed in the official records of the Recorder’s Office of Los
Angeles County, California at Document No. 20070203632 (the “Deed of Trust”) encumbering certain real property in Los Angeles County, California, legally described in the Deed of Trust (the “Property”). The Note,
the Deed of Trust and all other documents or instruments executed by the Borrower to evidence or secure the Loan, all as amended, modified and supplemented from time to time, are referred to as the “Loan Documents”. 

B. Morgan Stanley Real Estate Fund V U.S, L.P., a Delaware limited partnership (“Existing Guarantor”) has guaranteed
certain obligations of Borrower with respect to the Loan pursuant to an Amended and Restated Guaranty Agreement dated as of January 26, 2007 (the “Existing Guaranty”), and Indemnitor has guaranteed certain obligations of
Borrower with respect to the Loan pursuant to a Guaranty Agreement of even date herewith (the “Guaranty”). 

C. Pursuant to the Conditional Consent Agreement dated as of June     , 2010 by and between Borrower and
Lender (“Consent Agreement”) Borrower has requested and Lender has agreed to consent to certain Formation Transactions (as defined in the Consent Agreement). 

D. As a condition precedent to consenting to the Formation Transactions, Lender required that Indemnitor enter into this Agreement and
Indemnitor’s covenants and obligations are independent of and in addition to Borrower’s obligations under the Note, Deed of Trust and the other documents governing, evidencing and securing the Loan, Existing Guarantor’s obligations
under the Existing Guaranty and the Indemnitor’s obligations under the Guaranty. 
 NOW, THEREFORE, in consideration of the
premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Indemnitor hereby represents, warrants and covenants to Lender and Lender’s officers, directors, employees, agents, affiliates,
successors and assigns (collectively, the “Indemnitees”) as follows: 
  

 A-10 

 Section 1. Representations and Warranties. Indemnitor represents and warrants to
the Indemnitees that: 
 (a) to the best of Indemnitor’s knowledge, except as disclosed in the Environmental
Assessment, Hazardous Substances have not at any time been Released or disposed of on the Property in any quantity or manner which violates any Environmental Law (as each capitalized term is defined above or below in this Agreement); 

(b) to the best of Indemnitor’s knowledge, except as disclosed in the Environmental Assessment, Borrower is in
compliance with all applicable Environmental Laws with respect to the Property and the requirements of any permits issued under such Environmental Laws with respect to the Property; 

(c) to the best of Indemnitor’s knowledge, there are no past, pending or threatened Environmental Claims against
Indemnitor or the Property; 
 (d) to the best of Indemnitor’s knowledge, except as disclosed in the
Environmental Assessment, there is no condition or occurrence at the Property that could reasonably be anticipated (i) to form the basis of any Environmental Claim against Indemnitor or the Property, or (ii) to cause the Property to be
subject to any restrictions on the ownership, occupancy, use or transferability thereof under any Environmental Law; 

(e) to the best of Indemnitor’s knowledge, there are not now and never have been any underground storage tanks
located on the Property; 
 (f) Indemnitor (i) is a limited partnership, duly organized, validly existing
and in good standing under the laws of the State of Maryland, (ii) has the power and authority to own its property and assets and to transact the business in which it is engaged and (iii) is duly qualified and is in good standing in each
jurisdiction in which it owns or leases property or in which failure to be duly qualified and in good standing would have an adverse effect on its business, operations, property or financial condition; 

(g) Indemnitor has the power to execute, deliver and perform the terms and provisions of this Agreement and has taken all
necessary action to authorize the execution, delivery and performance by it of this Agreement; 
 (h) Indemnitor
has duly executed and delivered this Agreement, and this Agreement constitutes its legal, valid and binding obligation enforceable against Indemnitor in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization and other laws affecting creditors’ rights generally and by principles of equity; 
 (i)
neither the execution, delivery or performance by Indemnitor of this Agreement, nor compliance by it with the terms and provisions hereof, will (i) contravene any provision of any law, statute, rule or regulation or any order, writ, injunction
or decree of any court or governmental instrumentality, (ii) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the

  

 A-11 

 
creation or imposition of (or the obligation to create or impose) any lien upon any of its property or assets pursuant to the terms of any indenture, mortgage, deed of trust, credit agreement,
loan agreement or any other agreement, contract or instrument to which it is a party or by which it or any of its property or assets is bound or to which it may be subject, or (iii) violate any provision of Indemnitor’s organizational
documents; 
 (j) no order, consent, approval, license, authorization or validation of, or filing, recording or
registration with, or exemption by, any governmental or public body or authority, or any subdivision thereof, is required to authorize, or is required in connection with, the execution, delivery and performance by Indemnitor of this Agreement or the
legality, validity, binding effect or enforceability of this Agreement; and 
 (k) Borrower is in compliance with
all applicable statutes, regulations and orders of, and all applicable restrictions imposed by all governmental bodies in respect of the conduct of its business and the ownership of its property. 

For the purposes of this Section 1, the knowledge of Indemnitor shall mean the knowledge of any of the officers of Hudson Pacific Properties, Inc.,
the general partner of Indemnitor, and Indemnitor hereby represents that such officers are the most likely to know of such matters. 

Section 2. Covenants. Indemnitor covenants and agrees as follows: 

(a) Borrower will (i) comply with all Environmental Laws applicable to the ownership or use of the Property,
(ii) use its best efforts to cause all tenants and other persons occupying the Property to comply with all Environmental Laws, (iii) immediately pay or cause to be paid all costs and expenses incurred in such compliance, and (iv) keep
or cause the Property to be kept free and clear of any liens imposed thereon pursuant to any Environmental Laws. 

(b) Borrower will not generate, use, treat, store, Release or dispose of, or permit the generation, use, treatment,
storage, Release or disposal of, any Hazardous Substances on the Property, or transport or permit the transportation of any Hazardous Substances to or from the Property, in each case in any quantity or manner which violates any Environmental Law.

 (c) If Lender (i) has knowledge of any pending or threatened Environmental Claim against Indemnitor or
the Property or (ii) has reason to believe that the Borrower, Indemnitor or the Property are in violation of any Environmental Law or (iii) receives a request for an environmental site assessment report from a regulatory or other
governmental entity with jurisdiction over Lender, then at Lender’s written request, at any time and from time to time, Indemnitor will provide to Lender an environmental site assessment report concerning the Property, prepared by an
environmental consulting firm approved by Lender, indicating the presence or absence of Hazardous Substances and the potential cost of any removal or remedial action in connection with any Hazardous Substances on the Property. Any such environmental
site assessment report shall be conducted at Indemnitor’s sole cost and expense. If Indemnitor fails to deliver to Lender 

 

 A-12 

 
any such environmental site assessment report within thirty (30) days after being requested to do so by Lender pursuant to this Section, Lender may obtain the same, and Indemnitor hereby
grants to Lender and its agents access to the Property and specifically grants to Lender an irrevocable nonexclusive license to undertake such an assessment, and the cost of such assessment (together with interest thereon at the Default Rate as
defined in the Note) will be payable by Indemnitor on demand. 
 (d) Lender may, at its option, at any time and
from time to time, perform at its sole cost and expense an environmental site assessment report for the Property (provided that a copy of any such report is delivered to Indemnitor), and Indemnitor hereby grants to Lender and its agents access to
the Property and specifically grants to Lender an irrevocable non-exclusive license to undertake such an assessment. 

(e) Indemnitor will advise Lender in writing immediately upon learning of any of the following: (i) any pending or
threatened Environmental Claim against Borrower, Indemnitor or the Property; (ii) any condition or occurrence on the Property that (A) results in noncompliance by Borrower or Indemnitor with any applicable Environmental Law, or
(B) could reasonably be anticipated to form the basis of an Environmental Claim against Borrower, Indemnitor or the Property; (iii) any condition or occurrence on the Property that could reasonably be anticipated to cause the Property to
be subject to any restrictions on the ownership, occupancy, use or transferability of the Property under any Environmental Law; and (iv) the taking of any removal or remedial action in response to the actual or alleged presence, in any quantity
or manner which violates any Environmental Law, of any Hazardous Substances on the Property. Each such notice shall describe in reasonable detail the nature of the claim, investigation, condition, occurrence or removal or remedial action and
Indemnitor’s response thereto. In addition, Indemnitor will provide Lender with copies of all written communications to or from Indemnitor and any governmental agency relating to Environmental Laws, all written communications to or from
Indemnitor and any person relating to Environmental Claims, and such detailed reports of any Environmental Claim as may be requested by Lender. 

(f) Lender shall have the right but not the obligation to participate in or defend, as a party if it so elects, any
Environmental Claim. Without Lender’s prior written consent, Indemnitor shall not enter into any settlement, consent or compromise with respect to any Environmental Claim that might impair the value of the Property. 

(g) At its sole expense, Indemnitor will conduct any investigation, study, sampling and testing, and undertake any
cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Substances from the Property which must be so removed or cleaned up in accordance with the requirements of any applicable Environmental Laws, to the reasonable
satisfaction of a professional environmental consultant selected by Lender, and in accordance with all such requirements and with orders and directives of all governmental authorities. If all or any portion of the Loan shall be outstanding,
Indemnitor may prepay the Loan in full, together with all applicable prepayment penalties, in lieu of complying with the preceding sentence. 
  

 A-13 

 Section 3. Indemnity. 

(a) Indemnitor agrees to defend (with attorneys satisfactory to the Indemnitees), protect, indemnify and hold harmless
each of the Indemnitees and its respective officers, directors, employees, attorneys and agents from and against any and all liabilities, obligations (including removal and remedial actions), losses, damages (including foreseeable and unforeseeable
consequential damages and punitive damages), penalties, actions, judgments, suits, claims, costs, expenses and disbursements (including reasonable attorneys’ and consultants’ fees and disbursements) of any kind or nature whatsoever that
may at any time be incurred by, imposed on or asserted against any of them directly or indirectly based on, or arising or resulting from (i) the actual or alleged presence of Hazardous Substances on the Property in any quantity or manner which
violates Environmental Law, or the removal, handling, transportation, disposal or storage of such Hazardous Substances, (ii) any Environmental Claim with respect to Borrower, Indemnitor or the Property, or (iii) the exercise of any
Indemnitee’s rights under this Agreement (collectively, the “Indemnified Matters”), regardless of when such Indemnified Matters arise, but excluding any Indemnified Matter with respect to Hazardous Substances first placed or Released
on the Property after the later of (1) the date neither Borrower, Indemnitor nor any of their respective affiliates holds title to or any other interest in or lien on the Property, or (2) the payment in full of the Secured Obligations (as
defined in the Deed of Trust). To the extent that this indemnity is unenforceable because it violates any law or public policy, Indemnitor agrees to contribute the maximum portion that it is permitted to contribute under applicable law to the
payment and satisfaction of all Indemnified Matters. 
 (b) Indemnitor agrees to reimburse each Indemnitee for
all sums paid and costs incurred by such Indemnitee with respect to any Indemnified Matter within ten (10) days following written demand therefor, with interest thereon at the Default Rate (as defined in the Note) if not paid within such ten
(10) day period. 
 (c) Should any Indemnitee institute any action or proceeding at law or in equity, or in
arbitration, to enforce any provision of this Agreement (including an action for declaratory relief or for damages by reason of any alleged breach of any provision of this Agreement) or otherwise in connection with this Agreement or any provision
hereof, it shall be entitled to recover from Indemnitor its reasonable attorneys’ fees and disbursements incurred in connection therewith if it is the prevailing party in such action or proceeding. 

Section 4. Events of Default. Upon the occurrence of any of the following specified events (each an “Event of
Default”): 
 (a) if any of the representations and warranties contained in Section 1 shall prove to be
untrue in any respect; or 
 (b) if Indemnitor fails to perform any of its obligations under this Agreement
within fifteen (15) days following written notice thereof from Lender; provided that if such nonperformance is incapable of cure within such fifteen (15) day period, no Event 

 

 A-14 

 
of Default shall occur hereunder if Indemnitor has commenced a program to perform such obligations, which program is satisfactory to Lender in its sole and absolute discretion and is in
accordance with applicable law, and is diligently pursuing such program to completion; and provided further that if a shorter cure period or notice requirement for any particular failure to perform is provided by applicable law or this Agreement,
such specific provision shall control; 
 then and in any such event, and at any time thereafter, if any Event of Default shall
then be continuing, Lender may do or cause to be done whatever is necessary in its sole judgment to cause the Property to comply with applicable Environmental Laws, and the cost thereof (together with interest thereon at the Default Rate, as defined
in the Note) shall become immediately due and payable by Indemnitor without notice. Indemnitor shall and does hereby grant to Lender and its agents access to the Property and hereby specifically grants to Lender an irrevocable, non exclusive license
to do whatever is necessary in Lender’s judgment to cause the Property to so comply, including, without limitation, to enter the Property and remove therefrom any Hazardous Substances. 

Section 5. Recourse Obligations. 

(a) Indemnitor agrees that notwithstanding any term or provision contained in this Agreement or the other Loan Documents
to the contrary, the obligations of Indemnitor as set forth in this Agreement shall be exceptions to any non-recourse or exculpatory provision relating to the Loan, and Indemnitor shall be fully liable for the performance of its obligations under
this Agreement, and such liability shall not be limited to the original principal amount of the Loan. 
 (b) The
liability of Indemnitor under this Agreement shall in no way be limited to or impaired by any amendment or modification of the provisions of the Loan Documents unless such amendment or modification expressly refers to this Agreement. In addition,
the liability of Indemnitor under this Agreement shall in no way be limited or impaired by (i) any extensions of time for performance required by any of the Loan Documents, (ii) any sale, assignment or foreclosure of the Note or any sale
or transfer of all or any part of the Property, (iii) any exculpatory provision in any of the Loan Documents limiting any Indemnitee’s recourse to property encumbered by the Deed of Trust or to any other security, or limiting the
Indemnitees’ rights to a deficiency judgment against Indemnitor, (iv) the accuracy or inaccuracy of the representations and warranties made by Indemnitor under any of the Loan Documents, (v) the release of Indemnitor or any other
person from performance or observance of any of the agreements, covenants, terms or conditions contained in any of the Loan Documents (other than this Agreement) by operation of law, any Indemnitee’s voluntary act, or otherwise, (vi) the
release or substitution in whole or in part of any security for the Note or (vii) Lender’s failure to record the Deed of Trust or file any Financing Statements (or Lender’s improper recording or filing of any thereof) or to otherwise
perfect, protect, secure or insure any security interest or lien given as security for the Note; and, in any such case, whether with or without notice to Indemnitor and with or without consideration. 

 

 A-15 

 Section 6. Independent Obligations. This Agreement is intended to create
obligations that are separate and independent of Borrower’s obligations under the Note, Deed of Trust and other Loan Documents, and Indemnitor’s obligations hereunder are not secured by the Deed of Trust and the other Loan Documents.

 Section 7. Survival. 

(a) The representations, warranties, covenants and indemnities set forth in this Agreement shall survive the repayment of
the Loan, the release of the lien of the Deed of Trust, any foreclosure of the Deed of Trust or the delivery of a deed or assignment in lieu of foreclosure or otherwise, and the transfer of any interest in and to the Property; provided, however,
that the covenants contained in subsections 2(a), (b), (c), (d), (e) and (g) hereof shall terminate upon the earlier to occur of (i) repayment of the Loan, or (ii) a permitted sale of the Property and assumption of the Loan.

 (b) This Agreement shall be binding on and inure to the benefit of Indemnitor, the Indemnitees, and their
respective successors and assigns. Without limiting the generality of the foregoing, this Agreement shall inure to the benefit of each assignee or holder of the Note and each of such assignee’s or holder’s officers, directors, employees,
agents and affiliates. Notwithstanding the foregoing, Indemnitor, without the prior written consent of Lender in each instance, may not assign, transfer or set over in whole or in part, all or any part of its benefits, rights, duties and obligations
hereunder. 
 Section 8. Definitions. As used in this Agreement, the following terms shall have the following
meanings: 
 “Hazardous Substances” means (a) any chemicals, materials or substances defined as or included in
the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “toxic substances,” “toxic
pollutants,” “contaminants” or “pollutants,” or words of similar import, under any applicable Environmental Law; and (b) any other chemical, material or substance, exposure to which is prohibited, limited or regulated
by any governmental authority, including, without limitation, asbestos and asbestos-containing materials in any form, lead-based paint, any radioactive materials and polychlorinated biphenyls (“PCB’s”), or substances or compounds
containing PCB’s. 
 “Environmental Law” means any federal, state or local law, whether common law, court or
administrative decision, statute, rule, regulation, ordinance, court order or decree, or administrative order or any administrative policy or guidelines concerning action levels of a governmental authority (federal, state or local) now or hereafter
in effect relating to the environment, public health, occupational safety, industrial hygiene, any Hazardous Substance (including, without limitation, the disposal, generation, manufacture, presence, processing, production, Release, storage,
transportation, treatment or use thereof), or the environmental conditions on, under or about the Property, as amended and as in effect from time to time (including, without limitation, the following statutes and all regulations thereunder as
amended and in effect from time to time: the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. §§ 9601, et seq.; the Superfund Amendments

  

 A-16 

 
and Reauthorization Act of 1986, Title III, 42 U.S.C. §§ 11001, et seq.; the Clean Air Act, 42 U.S.C. §§ 7401, et seq.; the Safe Drinking Water Act, 42 U.S.C. §§
300(f), et seq.; the Solid Waste Disposal Act, 42 U.S.C. §§ 6901, et seq.; the Hazardous Materials Transportation Act, as amended, 49 U.S.C. §§ 5101, et seq.; the Resource Conservation and Recovery Act, as amended, 42 U.S.C.
§§ 6901, et seq.; the Federal Water Pollution Control Act, as amended, 33 U.S.C. §§ 1251, et seq.; the Toxic Substances Control Act of 1976, 15 U.S.C. §§ 2601, et seq.; the Occupational Safety and Health Act, 29 U.S.C.
§§ 651, et seq.; and any successor statutes and regulations to the foregoing). 
 “Environmental Claims”
means any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigations or proceedings relating in any way to any Environmental Law (hereafter
“Claims”) or any permit issued under any such Environmental Law, including without limitation (a) any and all Claims by governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions or
damages pursuant to any applicable Environmental Law, and (b) any and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from Hazardous Substances or arising
from alleged injury or threat of injury to health, safety or the environment. 
 “Release” means disposing,
discharging, injecting, spilling, leaking, leaching, dumping, emitting, escaping, emptying, seeping, placing and the like, into or upon any land or water or air, or otherwise entering into the environment. 

“Environmental Assessment” means the Phase I Environmental Site Assessment prepared in connection with the 2002 Loan by LAW
Engineering and Environmental Services for the benefit of Lender. 
 Section 9. Miscellaneous. 

(a) If Indemnitor is more than one person or entity, then (i) all persons or entities comprising Indemnitor are
jointly and severally liable for all of the Indemnitor’s obligations hereunder; (ii) all representations, warranties, and covenants made by Indemnitor shall be deemed representations, warranties, and covenants of each of the persons or
entities comprising Indemnitor; (iii) any breach, Default or Event of Default by any of the persons or entities comprising Indemnitor hereunder shall be deemed to be a breach, Default, or Event of Default of Indemnitor; and (iv) any
reference herein contained to the knowledge or awareness of Indemnitor shall mean the knowledge or awareness of any of the persons or entities comprising Indemnitor. 

(b) Indemnitor waives any right or claim of right to cause a marshalling of its assets or to cause any Indemnitee to
proceed against any of the security for the Loan before proceeding under this Agreement. Indemnitor expressly waives and relinquishes all present or future rights, remedies, or circumstances which might constitute a legal or equitable discharge of
Indemnitor or which might otherwise impair the validity or enforceability of this Agreement. Indemnitor hereby agrees to postpone the exercise of any and all rights of subrogation to the rights of any Indemnitee against Indemnitor

  

 A-17 

 
hereunder and any rights of subrogation to any collateral securing the Loan, until all obligations of Indemnitor to the Indemnitees hereunder have been performed in full and all principal,
interest and other sums evidenced or secured by the Loan Documents shall have been paid in full. 
 (c) Any party
liable upon or in respect of this Agreement or the Loan may be released without affecting the liability of any party not so released. 

(d) No failure or delay on the part of any of the Indemnitees in exercising any right, power or privilege hereunder or
under any other Loan Document and no course of dealing between Indemnitor and the Indemnitees (or any of them) shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or under any other
Loan Document preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder or thereunder. The rights, powers and remedies herein or in any other Loan Document expressly provided are cumulative with
and not exclusive of any rights, powers or remedies which the Indemnitees or any of them would otherwise have. No notice to or demand on Indemnitor in any case shall, ipso facto, entitle Indemnitor to any other or further notice or demand in similar
or other circumstances or constitute a waiver of the rights of the Indemnitees to any other or further action in any circumstances without notice or demand where notice or demand is not otherwise required. 

(e) All notices hereunder shall be in writing and shall be delivered to Borrower and Lender in accordance with the
provisions of the Deed of Trust, and to Guarantor in accordance with the terms of the Guaranty. 
 (f) Neither
this Agreement nor any term hereof may be changed, waived, discharged or terminated unless such change, waiver, discharge or termination is in writing and signed by each of the parties hereto. 

(g) LENDER AND INDEMNITOR KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT EITHER MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED ON THIS AGREEMENT, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY
PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR LENDER AND INDEMNITOR TO ENTER INTO THE LOAN TRANSACTION EVIDENCED BY THE NOTE. 

(h) This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and be
governed by the law of the State of California. 
 (i) All pronouns and any variations of pronouns herein shall
be deemed to refer to the masculine, feminine, or neuter, singular or plural, as the identity of the parties 
  

 A-18 

 
may require. Whenever the terms herein are singular, the same shall be deemed to mean the plural, as the identity of the parties or the context requires and vice versa. 

(j) This Agreement may be executed in multiple counterparts, each of which shall constitute a duplicate original, but all
of which together shall constitute one and the same instrument. 
 [Balance of page intentionally left blank] 

 

 A-19 

 IN WITNESS WHEREOF, Indemnitor has executed and delivered this Agreement as of the date
first above written. 
  

			
	INDEMNITOR:
	
	 HUDSON PACIFIC PROPERTIES, L.P., a

Maryland limited partnership

		
	By:	 	Hudson Pacific Properties, Inc., a Maryland corporation, its general partner
		
	By:	 	  

	Name:	 	  

	Its:	 	  

  

 A-20 

 EXHIBIT B 

Certificate Concerning Governing Documents 

CERTIFICATE CONCERNING GOVERNING DOCUMENTS 

This Certificate Concerning Governing Documents (“Certificate”) is made
            , 2010 and effective as of the IPO Closing Time (as defined in the Consent Agreement) by GLB ENCINO, LLC, a Delaware limited liability company
(“Borrower”) to SUNAMERICA LIFE INSURANCE COMPANY, an Arizona corporation (“Lender”). 
 This
Certificate is given to Lender in connection with the Conditional Consent Agreement dated as of June    , 2010 (the “Consent Agreement”) by and between Lender and Borrower and the “Formation
Transactions” described therein. Capitalized terms used but not defined herein have the meanings given them in the Consent Agreement. 

Borrower hereby certifies to Lender that: 

(i) (A) the Certificate of Formation and Operating Agreement of Borrower, and any amendments thereto (the “Current Governing
Documents”) that were attached to that certain Certificate Concerning Governing Documents made by Borrower in favor of Lender and dated as of January 26, 2007 remain true, correct and complete as of the date of this Certificate and
(B) immediately prior to the IPO Closing Time, the Operating Agreement of Borrower will be amended and restated pursuant to the form thereof attached hereto as Schedule 1 (the Current Governing Documents, as so amended, the “Amended
Governing Documents”) and that, as of the IPO Closing Time, such Amended Governing Documents will not have been further modified or amended, and shall be in full force and effect, 

(ii) the individuals authorized to execute and deliver the Certificate of Confirmation on behalf of Borrower are
                    , 

(iii) the taxpayer identification number of Borrower is
                    , 

(iv) attached hereto as Schedule A are organizational charts of Borrower accurately and completely reflecting the direct and
indirect ownership of Borrower at all levels both immediately prior to and immediately after the consummation of the Formation Transactions and the IPO Closing Time, and 

(v) both as of the date hereof and as of the IPO Closing Time, Borrower does not receive more than 5% of its revenues from business
conducted in or with countries sanctioned by the U.S. Treasury Department Office of Foreign Assets Control, except in compliance with the “Country Sanction Programs” promulgated thereby. 

 

 B-1 

 IN WITNESS WHEREOF, Borrower has executed this certificate as of the date set forth above.

  

			
	BORROWER:
	
	GLB ENCINO, LLC, a Delaware limited liability company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

 B-2 

 Schedule 1 

to 
 Certificate
Concerning Governing Documents 
 AMENDED AND RESTATED OPERATING AGREEMENT OF BORROWER 

 

 B-3 

 Schedule A 

to 
 Certificate
Concerning Governing Documents 
 BEFORE AND AFTER ORGANIZATIONAL CHARTS 

 

 B-4 

 EXHIBIT C 

Certificate of Confirmation 

CERTIFICATE OF CONFIRMATION 

THIS CERTIFICATE OF CONFIRMATION (this “Certificate”) is made by GLB ENCINO, LLC, a Delaware limited liability company
(“Borrower”), for the benefit of SUNAMERICA LIFE INSURANCE COMPANY, an Arizona corporation (“Lender”) as of this      day of         , 2010 as follows:

 1. Reference is hereby made to that certain Conditional Consent Agreement dated June     , 2010 by
and between Borrower and Lender (“Consent Agreement”). All capitalized terms not herein defined shall have the meaning given to such terms in the Consent Agreement. 

2. Pursuant to the Consent Agreement, Borrower is to deliver a Certificate of Confirmation to Lender to serve as confirmation that the
conditions set forth in Section 2(b) and Section 3 of the Consent Agreement have been satisfied (“Conditions to Consent”). 

3. Borrower hereby represents and warrants to Lender that as of the date set forth above, the Conditions to Consent are satisfied and the
IPO Closing occurred as of             , 2010. Borrower agrees if the foregoing representation is false or misleading in any material respect, then (i) Lender’s consent and
agreements pursuant to and as set forth in the Consent Agreement shall be of no force or effect (including, without limitation, any release by Lender of the Existing Guarantor), and (ii) such breach shall constitute an unpermitted transfer of
interests of Borrower in violation of Section 5.4(a) of the Deed of Trust and an Event of Default under the Loan Documents. 
  

			
	GLB ENCINO, LLC, a Delaware limited liability company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

[signatures continue on following page] 
  

 C-1 

 By execution below, Guarantor and Existing Guarantor each hereby: (i) acknowledge and
agree that it has received a copy of the Consent Agreement and all documents referenced therein, (ii) consent to the amendments and modifications to the Loan Documents set forth in the Consent Agreement, and to the transactions described
therein, (iii) consent to the execution and delivery by Borrower of this Certificate, the Consent Agreement, and all documents entered into in connection with the transactions described therein, and (iv) confirm that its obligations under
the Existing Guarantor Documents (subject to the terms of the Consent Agreement and this Certificate) or the Guarantor Documents (as applicable), in each case as amended and modified by the Consent Agreement and subject to the terms of this
Certificate, are hereby ratified and confirmed and remain in full force and effect. Except as expressly set forth otherwise, nothing contained in this Certificate, the Consent Agreement or any of the documents entered into in connection therewith,
shall be deemed to waive, release, limit or modify any obligation of Guarantor or Existing Guarantor relating to or otherwise connected with any Guarantor Document or Existing Guarantor Document (as applicable) or the Loan. 

 

			
	GUARANTOR:
	
	HUDSON PACIFIC PROPERTIES, L.P., a Maryland limited partnership
		
	By:	 	Hudson Pacific Properties, Inc., a Maryland corporation, its general partner
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	EXISTING GUARANTOR:
	
	MORGAN STANLEY REAL ESTATE FUND V U.S., L.P., a Delaware limited partnership
		
	By:	 	MSREF V U.S.-GP, L.L.C., a Delaware limited liability company, its general partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

 C-2 

 EXHIBIT D 

Modifications to Insurance Agreement 
  

			
	 SECTION
	  	 MODIFICATION

	A(vi)	  	Delete and replace with “Earthquake insurance in an amount equal to the probably maximum loss (PML) less the earthquake deductible of 5%.”
		
	F(i)	  	Amend Best key Rating Guide to A VII.
		
	F(ii)	  	Amend requirement for requirement for delivery of certificates to the following “within 15 days after coverage is in force.” Delete requirement for certified copies of
policies; copies of insurance certificates should suffice.
		
	F(vi)	  	 (i)     Delete entire paragraph, substitute the following:

		
		  	 Cut-through Clause: Lender retains the right to require a “cut-through” clause on any policy and at any time, should Lender determine
that the insurer’s actual or projected solvency jeopardizes the interest of Lender as a mortgagee or additional insured.

  

 D-1Amended and Restated Deed of Trust

 EXHIBIT 10.25 

 

 

  

			
	 STATE OF CALIFORNIA
 COUNTY OF
LOS ANGELES
  
 Recording requested by:

 
 And when recorded mail to:

 
 Otten, Johnson, Robinson,

Neff & Ragonetti, P.C.

950 Seventeenth Street
 Suite 1600

Denver, Colorado 80202
  

Attention: Mark F. Copertino, Esq.
	  	

 AMENDED AND RESTATED 

DEED OF TRUST, SECURITY AGREEMENT, FIXTURE FILING, FINANCING 

STATEMENT AND ASSIGNMENT OF LEASES AND RENTS 

 

			
	TRUSTOR:	  	 GLB ENCINO, LLC, a Delaware limited liability company

400 South El Camino Real,
11th Floor

San Mateo, California 94402
 Attention: Tracey
Perry

		
	BENEFICIARY:	  	 SUNAMERICA LIFE INSURANCE COMPANY,
    an Arizona corporation

c/o AIG Global Investment Corp.
 1 SunAmerica
Center, 38th Floor

Century City
 Los Angeles. California 90067-6022

 Attention: Director-Mortgage Lending and Real Estate

		
	TRUSTEE:	  	 FIRST AMERICAN TITLE INSURANCE COMPANY,

a California corporation
 555 Marshall Street

 Redwood City, California 94063

		
	AMOUNT SECURED:	  	$43,000,000.00
		
	GOVERNING LAW:	  	CALIFORNIA

 AMENDED AND RESTATED 

DEED OF TRUST, SECURITY AGREEMENT, FIXTURE FILING, FINANCING 

STATEMENT AND ASSIGNMENT OF LEASES AND RENTS 

THIS AMENDED AND RESTATED DEED OF TRUST, SECURITY AGREEMENT, FIXTURE FILING, FINANCING STATEMENT AND ASSIGNMENT OF LEASES AND RENTS (this
“Deed of Trust”) is given as of January 26, 2007, by GLB ENCINO, LLC, a Delaware limited liability company (“Trustor”), to FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation (“Trustee”), for the use
and benefit of SUNAMERICA LIFE INSURANCE COMPANY, an Arizona corporation (“Beneficiary”). 
 RECITALS

 A. On or about December 19, 2002, Beneficiary made a $33,000,000.00 loan (the “2002 Loan”) to Trustor, which
2002 Loan is (i) evidenced by a Promissory Note in the principal amount of the 2002 Loan dated as of December 19, 2002 (the “2002 Note”), and (ii) secured by, among other things, a Deed of Trust, Security Agreement, Fixture
Filing, Financing Statement and Assignment of Leases and Rents (the “2002 Deed of Trust”) dated as of December 19, 2002, granted by Trustor for the benefit of Beneficiary encumbering certain real property commonly known as the First
Financial Plaza, Encino, California, and more particularly described in the 2002 Deed of Trust and in Exhibit A attached hereto (the “Property”). The 2002 Deed of Trust was recorded on December 27, 2002, in the Los Angeles
County. California records as Instrument No. 02-3184851. 
 B. On or about September 16, 2004, Trustor and Beneficiary
(i) amended the 2002 Note pursuant to an Amendment to Promissory Note dated as of September 16, 2004 (the “Note Amendment”), and (ii) amended the 2002 Deed of Trust pursuant to a Deed of Trust and Loan Modification Agreement
dated as of September 16, 2004, and recorded on September 21, 2004, in the Los Angeles County, California records as Instrument No. 04-2419309 (the “Modification Agreement”). 

C. The 2002 Note, as amended by the Note Amendment, is referred to hereinafter as the “Original Note.” The 2002 Deed of Trust,
as modified by the Modification Agreement, is referred to hereinafter as the “Original Deed of Trust.” 
 D. As of the
date of this Deed of Trust, the outstanding principal balance existing under the Original Note is $30,838,395.85, and there is no accrued and unpaid interest due thereon. 

E. On or about the date hereof, Beneficiary is making an additional advance to Trustor in the amount of $12,161,604,15 (the
“Additional Advance”), such that the aggregate indebtedness owing by Trustor to Beneficiary under the Original Note and the Additional Advance will be, as of the date of such Additional Advance, $43,000,000.00. 

F. Pursuant to an Amended and Restated Promissory Note (the “Amended and Restated Note”) dated as of the date hereof in the
original principal amount of 

 $43,000,000.00, Trustor and Beneficiary are consolidating, amending and restating the Original Note and the
Additional Advance. 
 G. In connection with the Additional Advance, Trustor and Beneficiary hereby desire to amend, restate and
replace in its entirety the terms of the Original Deed of Trust to (i) secure the Amended and Restated Note, and (ii) reflect certain other agreements, as hereinafter provided. 

H. This Deed of Trust shall be effective as of the date Beneficiary makes the Additional Advance to Trustor, and upon Trustor making such
Additional Advance, this Deed of Trust shall amend, modify and restate in its entirety, the Original Deed of Trust. 

AGREEMENT 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Trustor hereby agrees as follows: 
 ARTICLE 1 

PARTIES, PROPERTY, AND DEFINITIONS 

The following terms and references shall have the meanings indicated: 

1.1 Beneficiary: The Beneficiary named in the introductory paragraph of this Deed of Trust, whose legal address is c/o A1G Global
Investment Corp. 1 SunAmerica Center. 38th Floor, Century City, Los Angeles, California 90067-6022, together with any future holder of the Note. 

1.2 Chattels: All goods, fixtures, inventory, equipment, building and other materials, supplies, and other tangible personal
property of every nature, whether now owned or hereafter acquired by Trustor, used, intended for use, or reasonably required in the construction, development, or operation of the Property, together with all accessions thereto, replacements and
substitutions therefor, and proceeds thereof. 
 1.3 Controlling Persons: Collectively, (a) if Trustor is a
partnership or joint venture, all general partners or joint venturers of Trustor, (b) Guarantor, (c)any other party directly liable for payment of the Secured Obligations, whether as maker, endorser, guarantor, surety, general partner, or
otherwise, and (d) any successor to any of the foregoing. 
 1.4 Default: Any matter which, with the giving of
notice, passage of time, or both, would constitute an Event of Default. 
 1.5 Environmental Indemnity Agreement: The
Amended and Restated Environmental Indemnity Agreement of even date herewith made by Trustor and Guarantor for the benefit of Beneficiary. 
  

 2 

 1.6 ERISA: The Employee Retirement Income Security Act of 1974, as amended, together
with all rules and regulations issued thereunder. 
 1.7 Event of Default: As defined in Article 6.

 1.8 Guarantor: Morgan Stanley Real Estate Fund V U.S., L.P., a Delaware limited partnership. 

1.9 Guaranty Agreement: The Amended and Restated Guaranty Agreement of even date herewith made by Guarantor for the benefit of
Beneficiary. 
 1.10 Insurance Agreement: The Agreement Concerning Insurance Requirements dated as of
December 19, 2002. executed by Trustor for the benefit of Beneficiary, as amended by the provisions of Section 9.22 of this Deed of Trust. 

1.11 Intangible Personality: The right to use all trademarks and trade names and symbols or logos used in connection therewith, or
any modifications or variations thereof, in connection with the operation of the improvements existing or to be constructed on the Property, together with all accounts, deposit accounts, letter of credit rights, investment property, monies in the
possession of Beneficiary (including, without limitation, proceeds from insurance, retainages and deposits for taxes and insurance), Permits, contract rights (including, without limitation, rights to receive insurance proceeds) and general
intangibles (whether now owned or hereafter acquired, and including proceeds thereof) relating to or arising from Trustor’s ownership, use, operation, leasing, or sale of all or any part of the Property, specifically including but in no way
limited to any right which Trustor may have or acquire to transfer any development rights from the Property to other real property, and any development rights which may be so transferred. 

1.12 Lease Certificate: The Certificate of even date herewith made by Trustor to Beneficiary concerning Leases of the Property.

 1.13 Leases: Any and all leases, subleases and other agreements under the terms of which any person other than
Trustor has or acquires any right to occupy or use the Property, or any part thereof. 
 1.14 Loan: The loan from
Beneficiary to Trustor evidenced by the Note. 
 1.15 Loan Documents: The Note, all of the deeds of trust,
mortgages, security agreements and other documents securing or executed and delivered in connection with the Note, including this Deed of Trust, the Insurance Agreement, the Environmental Indemnity Agreement, the Guaranty Agreement, the Lockbox
Agreement, the Pledge Agreement, the Lease Certificate and each other document executed or delivered in connection with the transaction pursuant to which the Note has been executed and delivered. The term “Loan Documents” also includes all
modifications, extensions, renewals, and replacements of each document referred to above. 
 1.16 Lockbox Agreement:
The Lockbox Deposit Service Agreement dated as December 19, 2002, among Trustor, Beneficiary, the “Servicer” referenced therein and the 

 

 3 

 “Depository Bank” referenced therein, as amended by the Amendment to Lockbox Agreement of even
date herewith. 
 1.17 Note: The Amended and Restated Promissory Note of even dale herewith payable to the order of
Beneficiary in the principal face amount of $43,000.000.00, the last payment under which is due on December 1, 2011, or, if extended by Beneficiary pursuant to its terms, December 1, 2016, unless such due date is accelerated, together with all
renewals, extensions and modifications of such promissory note. All terms and provisions of the Note are incorporated by this reference in this Deed of Trust. 

1.18 Permits: All permits, licenses, certificates and authorizations necessary for the beneficial development, ownership, use,
occupancy, operation and maintenance of the Property. 
 1.19 Permitted Exceptions: The matters (excluding matters of
survey) set forth in Schedule B-I of the title insurance policy insuring the lien created by this Deed of Trust, in form and substance satisfactory to, and accepted by, Beneficiary, that Trustor has caused to be delivered to Beneficiary in
connection with the Loan. 
 1.20 Pledge Agreement: The Pledge and Cash Collateral Agreement dated as of
December 19, 2002, among Trustor, Beneficiary and the “Servicer” referenced therein, as amended by the Amendment to Pledge Agreement of even date herewith. 

1.21 Property: The tract or tracts of land described in Exhibit A attached, together with the following: 

(a) All buildings, structures, and improvements now or hereafter located on such tract or tracts, as well as all rights-of-way,
easements, and other appurtenances thereto; 
 (b) Any land lying between the boundaries of such tract or tracts and the center
line of any adjacent street, road, avenue, or alley, whether opened or proposed; 
 (c) All of the rents, income, receipts,
revenues, issues and profits of and from such tract or tracts and improvements; 
 (d) All (i) water and water rights
(whether decreed or undecreed, tributary, nontributary or not nontributary, surface or underground, or appropriated or unappropriated); (ii) ditches and ditch rights; (iii) spring and spring rights: (iv) reservoir and reservoir
rights; and (v) shares of stock in water, ditch and canal companies and all other evidence of such rights, which are now owned or hereafter acquired by Trustor and which arc appurtenant to or which have been used in connection with such tract
or tracts or improvements: 
 (e) All minerals, crops, timber, trees, shrubs, flowers, and landscaping features now or
hereafter located on, under or above such tract or tracts; 
 (f) All machinery, apparatus, equipment, fittings, fixtures
(whether actually or constructively attached, and including all trade, domestic, and ornamental fixtures) 
  

 4 

 now or hereafter located in, upon, or under such tract or tracts or improvements and used or usable in
connection with any present or future operation thereof, including but not limited to all healing, air-conditioning, freezing, lighting, laundry, incinerating and power equipment; engines; pipes; pumps; tanks; motors; conduits; switchboards;
plumbing, lifting, cleaning, fire prevention, fire extinguishing, refrigerating, ventilating, cooking, and communications apparatus; boilers, water heaters, ranges, furnaces, and burners; appliances; vacuum cleaning systems; elevators; escalators;
shades; awnings; screens; storm doors and windows; stoves; refrigerators; attached cabinets; partitions; ducts and compressors; rugs and carpets; draperies: and all additions thereto and replacements therefor; 

(g) All development rights associated with such tract or tracts, whether previously or subsequently transferred to such tract or tracts
from other real property or now or hereafter susceptible of transfer from such tract or tracts to other real property; 
 (h)
All awards and payments, including interest thereon, resulting from the exercise of any right of eminent domain or any other public or private taking of, injury to, or decrease in the value of, any of such property; and 

(i) All other and greater rights and interests of every nature in such tract or tracts and in the possession or use thereof and income
therefrom, whether now owned or subsequently acquired by Trustor. 
 1.22 Secured Obligations: All present and future
obligations of Trustor to Beneficiary evidenced by or contained in the Note, this Deed of Trust and all other Loan Documents (excluding the Environmental Indemnity Agreement, which is not secured by this Deed of Trust), whether stated in the form of
promises, covenants, representations, warranties, conditions, or prohibitions or in any other form. If the maturity of the Note secured by this Deed of Trust is accelerated, then the Secured Obligations shall also include an amount equal to any
prepayment premium which would be payable under the terms of the Note as if the Note were prepaid in full on the date of the acceleration. If under the terms of the Note no voluntary prepayment would be permissible on the date of such acceleration,
then the prepayment fee or premium to be included in the Secured Obligations shall be equal to one hundred fifty percent (150%) of the highest prepayment fee or premium set forth in the Note, calculated as of the date of such acceleration, as
if prepayment were permitted on such date. 
 1.23 Trustee: The Trustee named in the introductory paragraph of
this Deed of Trust, whose address is 555 Marshall Street, Redwood City, California 94063. 
 1.24
Trustor: The Trustor named in the introductory paragraph of this Deed of Trust (Taxpayer I.D. No. 94-3231041; Organizational I.D. No. 3504518), whose legal address is 400 South El Camino Real,
11th Floor, San Matco, California 94402, together with any
future owner of the Property or any part thereof or interest therein. 
  

 5 

 ARTICLE 2 

GRANTING CLAUSE 

2.1 Grant to Trustee. As security for the Secured Obligations. Trustor hereby grants, bargains, sells, warrants and conveys the
Property to Trustee, in trust, with power of sale, for the use and benefit of Beneficiary, and subject to all provisions hereof. 

2.2 Security Interest to Beneficiary. As additional security for the Secured Obligations, Trustor hereby grants to Beneficiary a
security interest in the Property, Chattels and Intangible Personality. To the extent any of the Property, Chattels or Intangible Personality may be or have been acquired with funds advanced by Beneficiary under the Loan Documents, this security
interest is a purchase money security interest. This Deed of Trust constitutes a security agreement under the Uniform Commercial Code of the state in which the Property is located (the “Code”) with respect to any part of the Property,
Chattels and Intangible Personality that may or might now or hereafter be or be deemed to be personal property, fixtures or property other than real estate (all collectively hereinafter called “Collateral”); all of the terms, provisions,
conditions and agreements contained in this Deed of Trust pertain and apply to the Collateral as fully and to the same extent as to any other property comprising the Property, and the following provisions of this Section shall not limit the
generality or applicability of any other provisions of this Deed of Trust but shall be in addition thereto: 
 (a) The
Collateral shall be used by Trustor solely for business purposes, and all Collateral (other than the Intangible Personality) shall be installed upon the real estate comprising part of the Property for Trustor’s own use or as the equipment and
furnishings furnished by Trustor, as landlord, to tenants of the Property; 
 (b) The Collateral (other than the Intangible
Personally) shall be kept at the real estate comprising a part of the Property, and shall not be removed therefrom without the consent of Beneficiary (being the Secured Party as that term is used in the Code); and the Collateral (other than the
Intangible Personality) may be affixed to such real estate but shall not be affixed to any other real estate; 
 (c) No
financing statement covering any of the Collateral or any proceeds thereof is on file in any public office; and Trustor will, at its cost and expense, upon demand, furnish to Beneficiary such further information and will execute and deliver to
Beneficiary such financing statements and other documents in form satisfactory to Beneficiary and will do all such acts and things as Beneficiary may at any time or from time to time reasonably request or as may be necessary or appropriate to
establish and maintain a perfected first-priority security interest in the Collateral as security for the Secured Obligations, subject to no adverse liens or encumbrances; and Trustor will pay the cost of filing the same or filing or recording such
financing statements or other documents and this instrument in all public offices wherever filing or recording is deemed by Beneficiary to be necessary or desirable: 

(d) The terms and provisions contained in this Section and in Section 7.6 of this Deed of Trust shall, unless the context otherwise
requires, have the meanings and be construed as provided in the Code; and 
  

 6 

 (e) This Deed of Trust constitutes a financing statement under the Code with respect to the
Collateral. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. The filing of this Deed of Trust in the real estate records of the county where the Property is located shall constitute a fixture filing
in accordance with the Code. Information concerning the security interests created hereby may be obtained at the addresses set forth in Article 1 of this Deed of Trust. Trustor is the “Debtor” and Beneficiary is the “Secured
Party” (as those terms are defined and used in the Code) insofar as this Deed of Trust constitutes a financing statement. 

ARTICLE 3 

TRUSTOR’S REPRESENTATIONS AND WARRANTIES 

3.1 Warranty of Title. Trustor represents and warrants to Beneficiary that: 

(a) Trustor has good, marketable and indefeasible fee simple title to the Property, and such fee simple title is free and clear of all
liens, encumbrances, security interests and other claims whatsoever, subject only to the Permitted Exceptions; 
 (b) Trustor
is the sole and absolute owner of the Chattels and the Intangible Personality, free and clear of all liens, encumbrances, security interests and other claims whatsoever, subject only to the Permitted Exceptions; 

(c) This Deed of Trust is a valid and enforceable first lien and security interest on the Property, Chattels and Intangible Personality,
subject only to the Permitted Exceptions; 
 (d) Trustor, for itself and its successors and assigns, hereby agrees to warrant
and forever defend, all and singular of the property and property interests granted and conveyed pursuant to this Deed of Trust, against every person whomsoever lawfully claiming, or to claim, the same or any part thereof; and 

The representations, warranties and covenants contained in this Section shall survive foreclosure of this Deed of Trust, and shall inure
to the benefit of and be enforceable by any person who may acquire title to the Property, the Chattels, or the Intangible Personality pursuant to any such foreclosure. 

3.2 Due Authorization. If Trustor is other than a natural person, then each individual who executes this document on behalf of
Trustor represents and warrants to Beneficiary that such execution has been duly authorized by all necessary corporate, partnership, limited liability company or other action on the part of Trustor. Trustor represents that Trustor has obtained all
consents and approvals required in connection with the execution, delivery and performance of this Deed of Trust. 
 3.3
Other Representations and Warranties. Trustor represents and warrants to Beneficiary as follows: 
  

 7 

 (a) Trustor is a limited liability company, duly organized, validly existing and in good
standing under the laws of the State of Delaware. The only Controlling Person of Trustor is Guarantor, a limited partnership duly authorized to transact business in and is in good standing under the laws of the State of Delaware; 

(b) The execution, delivery and performance by Trustor of the Loan Documents are within Trustor’s power and authority and have been
duly authorized by all necessary action; 
 (c) This Deed of Trust is, and each other Loan Document to which Trustor or
Guarantor is a party will, when delivered hereunder, be valid and binding obligations of Trustor and Guarantor enforceable against Trustor and Guarantor in accordance with their respective terms, except as limited by equitable principles and
bankruptcy, insolvency and similar laws affecting creditors’ rights; 
 (d) The execution, delivery and performance by
Trustor and Guarantor of the Loan Documents will not contravene any contractual or other restriction binding on or affecting Trustor or any Controlling Person and will not result in or require the creation of any lien, security interest, other
charge or encumbrance (other than pursuant hereto) upon or with respect to any of its properties; 
 (e) The execution,
delivery and performance by Trustor and Guarantor of the Loan Documents does not contravene any applicable law; 
 (f) No
authorization, approval, consent or other action by, and no notice to or filing with, any court, governmental authority or regulatory body is required for the due execution, delivery and performance by Trustor and Guarantor of any of the Loan
Documents or the effectiveness of any assignment of any of Trustor’s rights and interests of any kind to Beneficiary; 

(g) No part of the Property, Chattels, or Intangible Personality is in the hands of a receiver, no application for a receiver is pending
with respect to any portion of the Property, Chattels, or Intangible Personality, and no part of the Property, Chattels, or Intangible Personality is subject to any foreclosure or similar proceeding; 

(h) Neither Trustor nor any Controlling Person has made any assignment for the benefit of creditors, nor has Trustor or any Controlling
Person filed, or had filed against it, any petition in bankruptcy; 
 (i) There is no pending or, to the best of Trustor’s
knowledge, threatened, litigation, action, proceeding or investigation against Trustor, any Controlling Person or the Property before any court, governmental or quasi-governmental, arbitrator or other authority, which could have a materially adverse
effect on Trustor, any such Controlling Person or the Property. There is no pending or, to the best of Trustor’s knowledge, threatened, condemnation proceeding against the Property before any court, governmental or quasi-governmental,
arbitrator or other authority; 
  

 8 

 (j) Trustor is a “non-foreign person” within the meaning of Sections 1445 and
7701 of the United States Internal Revenue Code of 1986, as amended, and the regulations issued thereunder; 
 (k) Access to
and egress from the Property are available and provided by public streets, and Trustor has no knowledge of any federal, state, county, municipal or other governmental plans to change the highway or road system in the vicinity of the Property or to
restrict or change access from any such highway or road to the Property; 
 (l) All public utility services necessary for the
operation of all improvements constituting part of the Property for their intended purposes are available at the boundaries of the land constituting part of the Property, including water supply, storm and sanitary sewer facilities, and natural gas,
electric, telephone and cable television facilities; 
 (m) The Property is located in a zoning district designated (Q)C4-1L
and (Q)PB-1L, by the City of Los Angeles, California. Such designation permits the development, use and operation of the Property as it is currently operated as a permitted, and not as a non-conforming use. The Property complies in all respects with
all zoning ordinances, regulations, requirements, conditions and restrictions, including but not limited to deed restrictions and restrictive covenants, applicable to the Property; 

(n) There are no special or other assessments for public improvements or otherwise now affecting the Property, nor does Trustor know of
any pending or threatened special assessments affecting the Property or any contemplated improvements affecting the Property that may result in special assessments. There are no tax abatements or exceptions affecting the Property; 

(o) Trustor and each Controlling Person has filed all tax returns it is required to have filed, and has paid all taxes as shown on such
returns or on any assessment received pertaining to the Property; 
 (p) Trustor has not received any notice from any
governmental body having jurisdiction over the Property as to any violation of any applicable law, or any notice from any insurance company or inspection or rating bureau setting forth any requirements as a condition to the continuation of any
insurance coverage on or with respect to the Property or the continuation thereof at premium rates existing at present which have not been remedied or satisfied; 

(q) Neither Trustor nor any Controlling Person is in default, in any manner which would materially adversely affect its properties,
assets, operations or condition (financial or otherwise), in the performance, observance or fulfillment of any of the obligations, covenants or conditions set forth in any agreement or instrument to which it is a party or by which it or any of its
properties, assets or revenues are bound; 
 (r) Except as set forth in the Lease Certificate, there are no occupancy rights
(written or oral), Leases or tenancies presently affecting any part of the Property. The Lease Certificate contains a true and correct description of all Leases presently affecting the Property. No written or oral agreements or understandings exist
between Trustor and the tenants 
  

 9 

 
under the Leases described in the Lease Certificate that grant such tenants any rights greater than those described in the Lease Certificate or that are in any way inconsistent with the rights
described in the Lease Certificate; 
 (s) There are no options, purchase contracts or other similar agreements of any type
(written or oral) presently affecting any part of the Property: 
 (t) There exists no brokerage agreement with respect to any
part of the Property; 
 (u) Except as otherwise disclosed to Beneficiary in writing prior to the date hereof, (i) there
are no contracts presently affecting the Property (“Contracts”) having a term in excess of one hundred eighty (180) days or not terminable by Trustor (without penalty) on thirty (30) days’ notice; (ii) Trustor has
heretofore delivered to Beneficiary true and correct copies of each of the Contracts together with all amendments thereto; (iii) Trustor is not in default of any obligations under any of the Contracts; and (iv) the Contracts represent the
complete agreement between Trustor and such other parties as to the services to be performed or materials to be provided thereunder and the compensation to be paid for such services or materials, as applicable, and except as otherwise disclosed
herein, such other parties possess no unsatisfied claims against Trustor. Trustor is not in default under any of the Contracts and no event has occurred which, with the passing of time or the giving of notice, or both, would constitute a default
under any of the Contracts; 
 (v) Trustor has obtained all Permits necessary for the operation, use, ownership, development,
occupancy and maintenance of the Property as an office building, as it is currently being operated. None of the Permits has been suspended or revoked, and all of the Permits are in full force and effect, are fully paid for, and Trustor has made or
will make application for renewals of any of the Permits prior to the expiration thereof; 
 (w) All insurance policies held by
Trustor relating to or affecting the Property are in full force and effect and shall remain in full force and effect until all Secured Obligations are satisfied. Trustor has not received any notice of default or notice terminating or threatening to
terminate any such insurance policies. Trustor has made or will make application for renewals of any of such insurance policies prior to the expiration thereof; 

(x) Trustor currently complies with ERISA. Neither the making of the Loan nor the exercise by Beneficiary of any of its rights under the
Loan Documents constitutes or will constitute a non-exempt, prohibited transaction under ERISA; and 
 (y) Trustor’s exact
legal name is correctly set out in the introductory paragraph of this Deed of Trust. Trustor’s organizational identification number is correctly set forth in the definition of “Trustor” set forth in Article 1 hereof. Trustor’s
location (as such term is used in Section 5.8 hereof) is the State of Delaware. 
 3.4 Continuing Effect. Trustor
shall be liable to Beneficiary for any damage suffered by Beneficiary if any of the foregoing representations are inaccurate as of the date hereof, regardless when such inaccuracy may be discovered by, or result in harm to, Beneficiary. Trustor
further represents and warrants that the foregoing representations and warranties, as well 
  

 10 

 as all other representations and warranties of Trustor to Beneficiary relative to the Loan Documents, shall
remain true and correct during the term of the Note and shall survive termination of this Deed of Trust. 
 ARTICLE 4 

 TRUSTOR’S AFFIRMATIVE COVENANTS 

4.1 Payment of Note. Trustor will pay all principal, interest, and other sums payable under the Note, on the date when such
payments are due, without notice or demand. 
 4.2 Performance of Other Obligations. Trustor will promptly and strictly
perform and comply with all other covenants, conditions, and prohibitions required of Trustor by the terms of the Loan Documents. 

4.3 Other Encumbrances. Trustor will promptly and strictly perform and comply with all covenants, conditions, and prohibitions
required of Trustor in connection with any other encumbrance affecting the Property, the Chattels, or the Intangible Personality, or any part thereof, or any interest therein, regardless of whether such other encumbrance is superior or subordinate
to the lien hereof. 
 4.4 Payment of Taxes. 

(a) Property Taxes. Unless Trustor is depositing money into escrow pursuant to Section 4.4(b), Trustor will (i) pay,
before delinquency, all taxes and assessments, general or special, which may be levied or imposed at any time against Trustor’s interest and estate in the Property, the Chattels, or the Intangible Personality, and (ii) within ten days
after each payment of any such tax or assessment, Trustor will deliver to Beneficiary, without notice or demand, an official receipt for such payment. At Beneficiary’s option. Beneficiary may retain the services of a firm to monitor the payment
of all taxes and assessments relating to the Property, the cost of which shall be borne by Trustor. 
 (b) Deposit for
Taxes. Upon demand made by Beneficiary following the occurrence of a Default or an Event of Default. Trustor shall deposit with Beneficiary an amount equal to l/12th of the amount which Beneficiary estimates will be required to make the next
annual payment of taxes, assessments, and similar governmental charges referred to in this Section, multiplied by the number of whole or partial months that have elapsed since the date one month prior to the most recent due date for such taxes,
assessments and similar governmental charges. Thereafter, with each monthly payment under the Note, Trustor shall deposit with Beneficiary an amount equal to l/12th of the amount which Beneficiary estimates will be required to pay the next annual
payment of taxes, assessments, and similar governmental charges referred to in this Section. The purpose of these provisions is to provide Beneficiary with sufficient funds on hand to pay all such taxes, assessments, and other governmental charges
thirty (30) days before the date on which they become past due. If the Beneficiary, in its sole discretion, determines that the funds escrowed hereunder are, or will be, insufficient, Trustor shall upon demand pay such additional sums as
Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Default or Event of 

 

 11 

 Default exists hereunder, Beneficiary will apply the amounts so deposited to the payment of such taxes,
assessments, and other charges when due, but in no event will Beneficiary be liable for any interest on any amount so deposited, and any amount so deposited may be held and commingled with Beneficiary’s own funds. 

(c) Intangible Taxes. If by reason of any statutory or constitutional amendment or judicial decision adopted or rendered after
the date hereof, any tax, assessment, or similar charge is imposed against the Note, against Beneficiary, or against any interest of Beneficiary in any real or personal property encumbered hereby. Trustor will pay such tax, assessment, or other
charge before delinquency and will indemnify Beneficiary against all loss, expense, or diminution of income in connection therewith. In the event Trustor is unable to do so, either for economic reasons or because the legal provisions or decisions
creating such tax, assessment or charge forbid Trustor from doing so, then the Note will, at Beneficiary’s option, become due and payable in full upon ninety (90) days’ notice to Trustor. 

(d) Right to Contest. Notwithstanding any other provision of this Section, Trustor will not be deemed to be in default solely by
reason of Trustor’s failure to pay any tax, assessment or similar governmental charge so long as, in Beneficiary’s judgment, each of the following conditions is satisfied: 

(i) Trustor is engaged in and diligently pursuing in good faith administrative or judicial proceedings appropriate to contest the
validity or amount of such tax, assessment, or charge; and 
 (ii) Trustor’s payment of such tax, assessment, or charge
would necessarily and materially prejudice Trustor’s prospects for success in such proceedings; and 
 (iii) Nonpayment of
such tax, assessment, or charge will not result in the loss or forfeiture of any property encumbered hereby or any interest of Beneficiary therein; and 

(iv) Trustor deposits with Beneficiary, as security for such payment which may ultimately be required, a sum equal to the amount of the
disputed tax, assessment or charge plus the interest, penalties, advertising charges, and other costs which Beneficiary estimates are likely to become payable if Trustor’s contest is unsuccessful. 

If Beneficiary determines that any one or more of such conditions is not satisfied or is no longer satisfied, Trustor will pay the tax,
assessment, or charge in question, together with any interest and penalties thereon, within ten days after Beneficiary gives notice of such determination. 

4.5 Maintenance of Insurance. 

(a) Coverages Required. Trustor shall maintain or cause to be maintained, with financially sound and reputable insurance companies
or associations satisfactory to Beneficiary, all insurance required under the terms of the Insurance Agreement, and shall comply with each and every covenant and agreement contained in the Insurance Agreement. 

 

 12 

 (b) Renewal Policies. Not less than thirty (30) days prior to the expiration
date of each insurance policy required pursuant to the Insurance Agreement, Trustor will deliver to Beneficiary an appropriate renewal policy (or a certified copy thereof), together with evidence satisfactory to Beneficiary that the applicable
premium has been prepaid. 
 (c) Deposit for Premiums. Upon demand made by Beneficiary following the occurrence of a
Default or an Event of Default. Trustor shall deposit with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to make the next annual payments of the premiums for the policies of insurance referred to in
this Section, multiplied by the number of whole and partial months which have elapsed since the date one month prior to the most recent policy anniversary date for each such policy. Thereafter, with each monthly payment under the Note, Trustor will
deposit an amount equal to l/12th of the amount which Beneficiary estimates will be required to pay the next required annual premium for each insurance policy referred to in this Section. The purpose of these provisions is to provide Beneficiary
with sufficient funds on hand to pay all such premiums thirty (30) days before the date on which they become past due. If the Beneficiary, in its sole discretion, determines that the funds escrowed hereunder are, or will be. insufficient.
Trustor shall upon demand pay such additional sums as Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Default or Event of Default exists hereunder, Beneficiary will apply the
amounts so deposited to the payment of such insurance premiums when due, but in no event will Beneficiary be liable for any interest on any amounts so deposited, and the money so received may be held and commingled with Beneficiary’s own funds.

 (d) Application of Hazard Insurance Proceeds. Trustor shall promptly notify Beneficiary of any
damage or casualty to all or any portion of the Property or Chattels. Beneficiary may participate in all negotiations and appear and participate in all judicial arbitration proceedings concerning any insurance proceeds which may be payable as a
result of any casualty or damage in excess of $200,000.00 (the “Insurance Threshold”). Any insurance proceeds relating to any casualty in excess of the Insurance Threshold shall be paid to Beneficiary and shall be applied first to
reimburse Beneficiary for all costs and expenses, including attorneys’ fees, incurred by Beneficiary in connection with the collection of such insurance proceeds. The balance of any insurance proceeds received by Beneficiary with respect to an
insured casualty may, in Beneficiary’s sole discretion, either (i) be retained and applied by Beneficiary toward payment of the Secured Obligations, or (ii) be paid over, in whole or in part and subject to such conditions as
Beneficiary may impose, to Trustor to pay for repairs or replacements necessitated by the casualty; provided, however, that if all of the Secured Obligations have been performed or are discharged by the application of less than all of such insurance
proceeds, then any remaining proceeds will be paid over to Trustor. Notwithstanding the preceding sentence, if (A) no Default or Event of Default shall exist hereunder, and (B) the proceeds received by Beneficiary (together with any other
funds delivered by Trustor to Beneficiary for such purpose) shall be sufficient, in Beneficiary’s reasonable judgment, to pay for any restoration necessitated by the casualty, and (C) either (1) the damage involves a loss of less than
fifty percent (50%) of the rentable square footage at the Property, or (2) Trustor is required to restore the Property pursuant to the terms of the Lease or Leases of that portion of the Property affected by the casually, and (D) such
restoration can be completed, in Beneficiary’s reasonable judgment, by the earliest of (x) the
180lh day following Trustor’s receipt of the

  

 13 

 
insurance proceeds, (y) the
180th day prior to the maturity date of the Note, or
(z) the expiration of the payment period on the rental-loss insurance coverage in respect of such casualty, then Beneficiary shall apply such proceeds as provided in clause (ii) of the preceding sentence. Beneficiary will have no
obligation to see to the proper application of any insurance proceeds paid over to Trustor, nor will any such proceeds received by Beneficiary bear interest or be subject to any other charge for the benefit of Trustor. Beneficiary may, prior to the
application of insurance proceeds, commingle them with Beneficiary’s own funds and otherwise act with regard to such proceeds as Beneficiary may determine in Beneficiary’s sole discretion. 

(e) Successor’s Rights. Any person who acquires title to the Property or the Chattels upon foreclosure hereunder will
succeed to all of Trustor’s rights under all policies of insurance maintained pursuant to this Section. 
 4.6
Maintenance and Repair of Property and Chattels. Trustor will at all times maintain the Property and the Chattels in good condition and repair, will diligently prosecute the completion of any building or other improvement which is at any time in
the process of construction on the Property, and will promptly repair, restore, replace, or rebuild any part of the Property or the Chattels which may be affected by any casualty or any public or private taking or injury to the Property or the
Chattels. All costs and expenses arising out of the foregoing shall be paid by Trustor whether or not the proceeds of any insurance or eminent domain shall be sufficient therefor. Trustor will comply with all statutes, ordinances, and other
governmental or quasi-governmental requirements and private covenants relating to the ownership, construction, use, or operation of the Property, including but not limited to any environmental or ecological requirements; provided, that so long as
Trustor is not otherwise in default hereunder, Trustor may, upon providing Beneficiary with security reasonably satisfactory to Beneficiary, proceed diligently and in good faith to contest the validity or applicability of any such statute,
ordinance, or requirement. Beneficiary and any person authorized by Beneficiary may enter and inspect the Property at all reasonable times, and may inspect the Chattels, wherever located, at all reasonable times. 

4.7 Leases. Trustor shall timely pay and perform each of its obligations under or in connection with the Leases, and shall
otherwise pay such sums and take such action as shall be necessary or required in order to maintain each of the Leases in full force and effect in accordance with its terms. Trustor shall immediately furnish to Beneficiary copies of any notices
given to Trustor by the lessee under any Lease, alleging the default by Trustor in the timely payment or performance of its obligations under such Lease and any subsequent communication related thereto. Trustor shall also promptly furnish to
Beneficiary copies of any notices given to Trustor by the lessee under any Lease, extending the term of any Lease, requiring or demanding the expenditure of any sum by Trustor (or demanding the taking of any action by Trustor), or relating to any
other material obligation of Trustor under such Lease and any subsequent communication related thereto. Trustor agrees that Beneficiary, in its reasonable discretion, may advance any sum or take any action which Beneficiary believes is necessary or
required to maintain the Leases in full force and effect, and all such sums advanced by Beneficiary, together with all costs and expenses incurred by Beneficiary in connection with action taken by Beneficiary pursuant to this Section, shall be due
and payable by Trustor to Beneficiary upon demand, shall bear interest until paid at the Default Rate (as defined in the Note), and shall be secured by this Deed of Trust. 
  

 14 

 4.8 Eminent Domain; Private Damage. If all or any part of the Property is taken or
damaged by eminent domain or any other public or private action, Trustor will notify Beneficiary promptly of the time and place of all meetings, hearings, trials, and other proceedings relating to such action. Beneficiary may participate in all
negotiations and appear and participate in all judicial or arbitration proceedings concerning any award or payment which may be due as a result of such taking or damage in excess of $200.000.00 (the “Condemnation Threshold”), and may, in
Beneficiary’s reasonable discretion, compromise or settle, in the names of both Trustor and Beneficiary, any claim for any such award or payment in excess of the Condemnation Threshold. Any such award or payment is to be paid to Beneficiary and
will be applied first to reimburse Beneficiary for all costs and expenses, including attorneys” fees, incurred by Beneficiary in connection with the ascertainment and collection of such award or payment. The balance, if any, of such award or
payment may, in Beneficiary’s sole discretion, either (a) be retained by Beneficiary and applied toward the Secured Obligations, or (b) be paid over, in whole or in part and subject to such conditions as Beneficiary may impose, to
Trustor for the purpose of restoring, repairing, or rebuilding any part of the Property affected by the taking or damage. Notwithstanding the preceding sentence, if (i) no Default or Event of Default shall have occurred and be continuing
hereunder, and (ii) the proceeds received by Beneficiary (together with any other funds delivered by Trustor to Beneficiary for such purpose) shall be sufficient, in Beneficiary’s reasonable judgment, to pay for any restoration
necessitated by the taking or damage, and (iii) either (1) the condemnation involves a loss of less than fifty percent (50%) of the rentable square footage at the Property, or (2) Trustor is required to restore the Property
pursuant to the terms of the Lease or Leases of that portion of the Property affected by the condemnation, and (iv) such restoration can be completed, in Beneficiary’s reasonable judgment, by the earliest of (x) the 180th day
following Trustor’s receipt of the condemnation proceeds, or (y) the 180th day prior to the maturity date of the Note, and (v) the remaining Property shall constitute, in Beneficiary’s sole judgment, adequate security for the
Secured Obligations, then Beneficiary shall apply such proceeds as provided in clause (b) of the preceding sentence. Trustor’s duty to pay the Note in accordance with its terms and to perform the other Secured Obligations will not be
suspended by the pendency or discharged by the conclusion of any proceedings for the collection of any such award or payment, and any reduction in the Secured Obligations resulting from Beneficiary’s application of any such award or payment
will take effect only when Beneficiary receives such award or payment. If this Deed of Trust has been foreclosed prior to Beneficiary’s receipt of such award or payment. Beneficiary may nonetheless retain such award or payment to the extent
required to reimburse Beneficiary for all costs and expenses, including attorneys’ fees, incurred in connection therewith, and to discharge any deficiency remaining with respect to the Secured Obligations. 

4.9 Mechanics’ Liens. Trustor will keep the Property free and clear of all liens and claims of liens by contractors,
subcontractors, mechanics, laborers, materialmen, and other such persons, and will cause any recorded statement of any such lien to be released of record within thirty (30) days after the recording thereof. Notwithstanding the preceding
sentence, however, Trustor will not be deemed to be in default under this Section if and so long as Trustor (a) contests in good faith the validity or amount of any asserted lien and diligently prosecutes or defends an action appropriate to
obtain a binding determination of the disputed matter, and (b) provides Beneficiary with such security as Beneficiary may require to protect Beneficiary against all loss, damage, and expense, including attorneys” fees, which Beneficiary
might incur if the asserted lien is determined to be valid. 
  

 15 

 4.10 Defense of Actions. Trustor will defend, at Trustor’s expense, any action,
proceeding or claim which affects any property encumbered hereby or any interest of Beneficiary in such property or in the Secured Obligations, and will indemnify and hold Beneficiary harmless from all loss, damage, cost, or expense, including
attorneys’ fees, which Beneficiary may incur in connection therewith. 
 4.11 Expenses of Enforcement. Trustor will
pay all costs and expenses, including attorneys’ fees, which Beneficiary may incur in connection with any effort or action (whether or not litigation or foreclosure is involved) to enforce or defend Beneficiary’s rights and remedies under
any of the Loan Documents, including but not limited to all attorneys’ fees, appraisal fees, consultants’ fees, and other expenses incurred by Beneficiary in securing title to or possession of, and realizing upon, any security for the
Secured Obligations. All such costs and expenses (together with interest thereon at the Default Rate from the date incurred) shall constitute part of the Secured Obligations, and may be included in the computation of the amount owed to Beneficiary
for purposes of foreclosing or otherwise enforcing this Deed of Trust. 
 4.12 Financial Reports. During the term of the
Loan. Trustor shall supply to Beneficiary (a) within thirty (30) days following the end of each quarter. Trustor’s quarterly and annual operating statements for the Property as of the end of and for the preceding quarter and fiscal
year, as applicable, in each case prepared against the budget for such year; (b) contemporaneously with Trustor’s delivery of each of such operating statements, a certified rent roll signed and dated by Trustor detailing the names of all
tenants under the Leases, the portion of the improvements on the Property occupied by each tenant, the rent and any other charges payable under each Lease, and the term of each Lease; and (c) within ninety (90) days following the end of
each year, an annual balance sheet and profit and loss statement of Trustor and each Guarantor. The financial statements and reports described in (a) and (c) above shall be in such detail as Beneficiary may require, shall be prepared in
accordance with generally accepted accounting principles consistently applied, and shall be certified as true and correct by Trustor or the applicable Guarantor (or, if required by Beneficiary, by an independent certified public accountant
acceptable to Beneficiary). Trustor shall also furnish to Beneficiary within thirty (30) days of Beneficiary’s request, any other financial reports or statements of Trustor as Beneficiary may request. Upon Beneficiary’s demand after
any Default or Event of Default, or if Beneficiary securitizes the Loan, Trustor shall supply to Beneficiary the items required in (a) and (b) above on a monthly basis. 

4.13 Priority of Leases. To the extent Trustor has the right, under the terms of any Lease, to make such Lease subordinate to the
lien hereof. Trustor will, at Beneficiary’s request and Trustor’s expense, take such action as may be required to effect such subordination, Conversely, Trustor will, at Beneficiary’s request and Trustor’s expense, take such
action as may be necessary to subordinate the lien hereof to any future Lease designated by Beneficiary. 
 4.14 Inventories;
Assembly of Chattels. Trustor will, from time to time at the request of Beneficiary, supply Beneficiary with a current inventory of the Chattels and the Intangible Personality, in such detail as Beneficiary may require. Upon the occurrence of
any Event of Default hereunder, Trustor will at Beneficiary’s request assemble the Chattels and make them available to Beneficiary at any place designated by Beneficiary which is reasonably convenient to both parties. 

 

 16 

 4.15 Compliance with Laws, Etc. Trustor shall comply in all material respects with
all applicable laws, rules, regulations and orders, such compliance to include, without limitation, maintaining all Permits and paying before the same become delinquent all taxes, assessments and governmental charges imposed upon Trustor or the
Property. 
 4.16 Records and Books of Account. Trustor shall keep accurate and complete records and books of account, in
which complete entries will be made in accordance with generally accepted accounting principles consistently applied, reflecting all financial transactions relating to the Property. 

4.17 Inspection Rights. At any reasonable time, and from time to time, upon not less than ten (10) days prior notice, Trustor
shall permit Beneficiary, or any agents or representatives thereof, to examine and make copies of and abstracts from the records and books of account of, and visit the Property and to discuss with Trustor the affairs, finances and accounts of
Trustor. 
 4.18 Change of Trustor’s Address or State of Organization. Trustor shall promptly notify Beneficiary if
changes are made in Trustor’s address from that set forth in Section 9.10 hereof, or if Trustor shall either change its “location” (as such term is used in Section 5.8 hereof), its state of organization or if Trustor shall
organize in any state other than the State of Delaware. 
 4.19 Further Assurances; Estoppel Certificates. Trustor will
execute and deliver to Beneficiary upon demand, and pay the costs of preparation and recording thereof, any further documents which Beneficiary may request to confirm or perfect the liens and security interests created or intended to be created
hereby, or to confirm or perfect any evidence of the Secured Obligations. Trustor will also, within ten days after any request by Beneficiary, deliver to Beneficiary a signed and acknowledged statement certifying to Beneficiary, or to any proposed
transferee of the Secured Obligations, (a) the balance of principal, interest, and other sums then outstanding under the Note, and (b) whether Trustor claims to have any offsets or defenses with respect to the Secured Obligations and, if
so, the nature of such offsets or defenses. 
 4.20 Costs of Closing. Trustor shall on demand pay directly or reimburse
Beneficiary for any costs or expenses pertaining to the closing of the Loan, including, but not limited to, fees of counsel for Beneficiary, costs and expenses for which invoices were not available at the closing of the Loan, or costs and expenses
which are incurred by Beneficiary after such closing, including, without limitation, costs or expenses incurred to obtain originals or copies of recorded or filed Loan Documents and UCC financing statements. All such costs and expenses (together
with interest thereon at the Default Rate from the date that is ten (10) days following demand made therefor by Beneficiary) shall constitute a part of the Secured Obligations, and may be included in the computation of the amount owed to
Beneficiary for purposes of foreclosing or otherwise enforcing this Deed of Trust. 
 4.21 Fund for Electronic Transfer.
All monthly payments of principal and interest on the Note, and escrow deposits under this Deed of Trust, shall be made by Trustor by electronic funds transfer from a bank account established and maintained by Trustor for such purpose. Trustor shall
establish and maintain such an account until the Note is fully paid and 
  

 17 

 shall direct the depository of such account in writing to so transmit such payments on or before the
respective due dates to the account of Beneficiary as shall be designated by Beneficiary in writing. 
 4.22 Use. Trustor
shall use the Property solely for the operation of an office building, and for no other use or purpose. 
 4.23
Management. The Property shall be managed by Glenborough. LLC (“Property Manager”) under a management agreement previously delivered to. and approved, by Beneficiary (the “Management Agreement”). Trustor shall not permit any
amendment to or modification of the Management Agreement, or management of the Property by any person or entity other than Property Manager, without the prior written consent of Beneficiary. 

ARTICLE 5 

TRUSTOR’S NEGATIVE COVENANTS 

5.1 Waste and Alterations. Trustor will not commit or permit any waste with respect to the Property or the Chattels. Trustor shall
not cause or permit any part of the Property, including but not limited to any building, structure, parking lot, driveway, landscape scheme, timber, or other ground improvement, to be removed, demolished, or materially altered without the prior
written consent of Beneficiary. 
 5.2 Zoning and Private Covenants. Trustor will not initiate, join in, or consent to
any change in any zoning ordinance or classification, any change in the “zone lot” or “zone lots” (or similar zoning unit or units) presently comprising the Property, any transfer of development rights, any change in any private
restrictive covenant, or any change in any other public or private restriction limiting or defining the uses which may be made of the Property or any part thereof, without the prior written consent of Beneficiary. If under applicable zoning
provisions the use of all or any part of the Property is or becomes a nonconforming use, Trustor will not cause such use to be discontinued or abandoned without the prior written consent of Beneficiary, and Trustor will use its best efforts to
prevent the tenant under any Lease from discontinuing or abandoning such use. 
 5.3 Interference with Leases.

 (a) Trustor will neither do, nor neglect to do, anything which may cause or permit the termination of any Lease of all or any
part of the Property, or cause or permit the withholding or abatement of any rent payable under any such Lease. 
 (b) Except
as provided below, without Beneficiary’s prior written consent, which may be granted or withheld in Beneficiary’s sole discretion. Trustor shall not enter into or modify any Lease of all or any part of the Property. Notwithstanding the
foregoing. Trustor may, without Beneficiary’s prior consent, enter into or modify any Lease of less than 10.000 rentable square feet of space at the Property, provided that (i) the rent payable under such proposed Lease or modification is
a market rent taking into account the type, quality and location of the Property and the type and quality of the tenant and contains then prevailing market practices with respect to tenant concessions and allowances in comparable office properties
in 
  

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 the market in which the Property is located, (ii) such Lease or modification shall be entered into on
the standard form of Lease, without material modification thereto, and (iii) such Lease or modification shall be entered into on arms-length terms. Any submission by Trustor for Beneficiary’s approval of a Lease or modification thereof
shall be accompanied by a copy of such Lease or modification, a Lease abstract, a then-current rent roll for the Property, year-to-date and prior year operating statements for the Property, and a cover letter requesting Beneficiary’s approval
which contains a signature line on which Beneficiary may evidence its approval of such Lease or modification. 
 (c) Except
with the prior written consent of Beneficiary, which may be granted or withheld in Beneficiary’s sole discretion, Trustor will not (i) collect rent from all or any part of the Property for more than one month in advance, (ii) assign
the rents from the Property or any part thereof, or (iii) consent to the cancellation or surrender of all or any part of any Lease, except that Trustor may in good faith terminate any Lease for nonpayment of rent or other material breach by the
tenant. 
 (d) Without limiting the generality of the foregoing, whether or not Beneficiary’s consent to the cancellation
or surrender of any Major Tenant (as defined in the Note) Lease is required hereunder, Beneficiary may (i) require that Trustor deposit into an escrow account acceptable to Beneficiary in its reasonable discretion all cancellation penalties or
other consideration paid to Trustor in connection with any Major Tenant Lease cancellation or surrender (the “Termination Fees”), and (ii) require that such vacant space be relet to a tenant and under a Lease acceptable to Beneficiary
in its reasonable discretion (an “Approved Lease”). Upon execution of an Approved Lease, Beneficiary shall refund a pro-rata portion of the Termination Fees equal to the ratio of the number of square feet of newly leased space under the
Approved Lease divided by the total square feet of space vacated pursuant to the subject Major Tenant Lease. If the Property is at least 87% occupied and the income from the Property is sufficient, in Beneficiary’s determination, to pay all
operating expenses of the Property and debt service payments due under the Note, then Beneficiary shall deliver any Termination Fees then held in escrow to Trustor. 

5.4 Transfer or Further Encumbrance of Property. 

(a) Without Beneficiary’s prior written consent, which consent may be granted or withheld in Beneficiary’s sole and absolute
discretion, Trustor shall not (i) sell, assign, convey, transfer or otherwise dispose of any legal, beneficial or equitable interest in all or any part of the Property, (ii) permit or suffer any owner, directly or indirectly, of any
beneficial interest in the Property or Trustor to transfer such interest, whether by transfer of partnership, membership, stock or other beneficial interest in any entity or otherwise, or (iii) mortgage, hypothecate or otherwise encumber or
permit to be encumbered or grant or permit to be granted a security interest in all or any part of the Property or Trustor or any beneficial or equitable interest in either the Property or Trustor. The provisions of this Section shall not prohibit
transfers of title or interest under any will or testament or applicable law of descent. 
 (b) Notwithstanding the provisions
of Section 5.4(a) to the contrary. Beneficiary’s prior written consent shall not be required for the following transfers (each a “Permitted Transfer”): (i) the transfer of limited partnership interests in Guarantor;
(ii) the 
  

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transfer of up to forty-nine percent (49%) of the membership and/or beneficial ownership interests in (A) Glenborough Acquisition, LLC or (B) Glenborough Holdings, LLC or
(iii) the conversion of a portion of the general partnership interests to limited partnership interests, or transfers of limited partnership interests, in Glenborough Fund XIV, L.P., provided that, at all times during the term of the Loan and
following any such Permitted Transfer, Morgan Stanley, or a wholly owned subsidiary or other affiliate of Morgan Stanley which it controls, shall retain management control over Guarantor and Trustor. 

5.5 Further Encumbrance of Chattels. Trustor will neither create nor permit any lien, security interest or encumbrance
against the Chattels or Intangible Personality or any part thereof or interest therein, other than the liens and security interests created by the Loan Documents, without the prior written consent of Beneficiary, which may be withheld for any
reason. 
 5.6 Assessments Against Property. Trustor will not, without the prior written approval of Beneficiary, which
may be withheld for any reason, consent to or allow the creation of any so-called special districts, special improvement districts, benefit assessment districts or similar districts, or any other body or entity of any type, or allow to occur any
other event, that would or might result in the imposition of any additional taxes, assessments or other monetary obligations or burdens on the Property, and this provision shall serve as RECORD NOTICE to any such district or districts or any
governmental entity under whose authority such district or districts exist or are being formed that, should Trustor or any other person or entity include all or any portion of the Property in such district or districts, whether formed or in the
process of formation, without first obtaining Beneficiary’s express written consent, the rights of Beneficiary in the Property pursuant to this Deed of Trust or following any foreclosure of this Deed of Trust, and the rights of any person or
entity to whom Beneficiary might transfer the Property following a foreclosure of this Deed of Trust, shall be senior and superior to any taxes, charges, fees, assessments or other impositions of any kind or nature whatsoever, or liens (whether
statutory, contractual or otherwise) levied or imposed, or to be levied or imposed, upon the Property or any portion thereof as a result of inclusion of the Property in such district or districts. 

5.7 Transfer or Removal of Chattels. Trustor will not sell, transfer or remove from the Property all or any part of the Chattels,
unless the items sold, transferred, or removed are simultaneously replaced with similar items of equal or greater value. 

5.8 Change of Name, Organizational I.D. No. or Location. Trustor will not change its name or the name under which it docs business
(or adopt or begin doing business under any other name or assumed or trade name), change its organizational identification number, or change its location, without first notifying Beneficiary of its intention to do so and delivering to Beneficiary
such organizational documents of Trustor and executed modifications or supplements to this Deed of Trust (and to any financing statement which may be filed in connection herewith) as Beneficiary may require. For purposes of the foregoing,
Trustor’s “location” shall mean (a) if Trustor is a registered organization. Trustor’s state of registration, (b) if Trustor is an individual, the state of Trustor’s principal residence, or (c) if Trustor is
neither a registered organization nor an individual, the state in which Trustor’s place of business (or, if Trustor has more than one place of business, the Trustor’s chief executive office) is located. 

 

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 5.9 Improper Use of Property or Chattels. Trustor will not use the Property or the
Chattels for any purpose or in any manner which violates any applicable law. ordinance, or other governmental requirement, the requirements or conditions of any insurance policy, or any private covenant. 

5.10 ERISA. Trustor shall not engage in any transaction which would cause the Note (or the exercise by Beneficiary of any of its
rights under the Loan Documents) to be a non-exempt, prohibited transaction under ERISA (including for this purpose the parallel provisions of Section 4975 of the Internal Revenue Code of 1986. as amended), or otherwise result in Beneficiary
being deemed in violation of any applicable provisions of ER1SA. Trustor shall indemnify, protect, defend, and hold Beneficiary harmless from and against any and all losses, liabilities, damages, claims, judgments, costs, and expenses (including,
without limitation attorneys” fees and costs incurred in the investigation, defense, and settlement of claims and in obtaining any individual ERISA exemption or state administrative exception that may be required, in Beneficiary’s sole and
absolute discretion) that Beneficiary may incur, directly or indirectly, as the result of the breach by Trustor of any warranty or representation set forth in Section 3.3(x) hereof or the breach by Trustor of any covenant contained in this
Section. This indemnity shall survive any termination, satisfaction or foreclosure of this Deed of Trust and shall not be subject to the limitation on personal liability described in the Note. 

5.11 Use of Proceeds. Trustor will not use any funds advanced by Beneficiary under the Loan Documents for household or
agricultural purposes, to purchase margin stock, or for any purpose prohibited by law. 
 5.12 Single-Purpose Entity.
Trustor will not engage in any business other than the ownership, development, operation and disposition of the Property. 

ARTICLE 6 

EVENTS OF DEFAULT 

Each of the following events will constitute an event of default (an “Event of Default”) under this Deed of Trust and under
each of the other Loan Documents: 
 6.1 Failure to Pay Note. Trustor’s failure to make any payment when due under
the terms of the Note or any other Loan Document. 
 6.2 Due on Sale or Encumbrance. The occurrence of any violation of
any covenant contained in Section 5.3(a), 5.5 or 5.7 hereof. 
 6.3 Other Obligations. The failure of Trustor to
properly perform any obligation contained herein or in any of the other Loan Documents (other than the obligation to make payments under the Note or the other Loan Documents) and the continuance of such failure for a period of ten (10) days
following written notice thereof from Beneficiary to Trustor; provided, however, that if such failure is not curable within such ten (10) day period, then, so long as Trustor commences to cure such failure within such ten (10) day period
and is continually and diligently attempting to cure to completion, such failure shall not be an Event of 
  

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Default unless such failure remains uncured for ninety (90) days after such written notice to Trustor. 

6.4 Levy Against Property. The levy against any of the Property. Chattels or Intangible Personality, of any execution, attachment,
sequestration or other writ. 
 6.5 Liquidation. The liquidation, termination or dissolution of Trustor or any
Controlling Person. 
 6.6 Appointment of Receiver. The appointment of a trustee or receiver for the assets, or any part
thereof, of Trustor, or any Controlling Person, or the appointment of a trustee or receiver for any real or personal property, or the like, or any part thereof, representing the security for the Secured Obligations. 

6.7 Assignments. The making by Trustor or any Controlling Person of a transfer in fraud of creditors or an assignment for the
benefit of creditors. 
 6.8 Order for Relief. The entry in bankruptcy of an order for relief for or against Trustor or
any Controlling Person. 
 6.9 Bankruptcy. The filing of any petition (or answer admitting the material allegations of
any petition), or other pleading, seeking entry of an order for relief for or against Trustor or any Controlling Person as a debtor or bankrupt or seeking an adjustment of any of such parties’ debts, or any other relief under any state or
federal bankruptcy, reorganization, debtor’s relief or insolvency laws now or hereafter existing, including, without limitation, a petition or answer seeking reorganization or admitting the material allegations of a petition filed against any
such party in any bankruptcy or reorganization proceeding, or the act of any of such parties in instituting or voluntarily being or becoming a party to any other judicial proceedings intended to effect a discharge of the debts of any such parties,
in whole or in part, or a postponement of the maturity or the collection thereof, or a suspension of any of the rights or powers of a trustee or of any of the rights or powers granted to Beneficiary herein, or in any other document executed in
connection herewith. 
 6.10 Misrepresentation. If any representation or warranty made by Trustor or any Controlling
Person, or in any of the other Loan Documents or any other instrument or document modifying, renewing, extending, evidencing, securing or pertaining to the Note is false, misleading or erroneous in any material respect. 

6.11 Judgments. The failure of Trustor or any Controlling Person to pay any money judgment in excess of $10,000.00 against any
such party before the expiration of thirty (30) days after such judgment becomes final and no longer appealable. 
 6.12
Admissions Regarding Debts. The admission of Trustor or any Controlling Person in writing of any such party’s inability to pay such party’s debts as they become due. 

6.13 Assertion of Priority. The assertion of any claim of priority over this Deed of Trust, by title, lien, or otherwise, unless
Trustor within thirty (30) days after such 
  

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assertion either causes the assertion to be withdrawn or provides Beneficiary with such security as Beneficiary may require to protect Beneficiary against all loss, damage, or expense, including
attorneys’ fees, which Beneficiary may incur in the event such assertion is upheld. 
 6.14 Other Loan Documents.
The occurrence of any default by Trustor. after the lapse of any applicable grace or cure period, or the occurrence of any event or circumstance defined as an Event of Default, under any of the Loan Documents other than this Deed of Trust.

 6.15 Other Liens. The occurrence of any default by Trustor. after the lapse of any applicable grace or cure period, or
the occurrence of any event or circumstance defined as an Event of Default, under any other consensual lien encumbering the Property, or any part thereof or interest therein, or any document or instrument evidencing obligations secured thereby.

 6.16 Other Indebtedness. The occurrence of any default by Trustor. after the lapse of any applicable grace or cure
period, or the occurrence of any event or circumstance defined as an Event of Default, under any other indebtedness incurred or owing by Trustor, or any document or instrument evidencing any obligation to pay such indebtedness. 

ARTICLE 7 

BENEFICIARY’S REMEDIES 

Immediately upon or any time after the occurrence of any Event of Default hereunder. Beneficiary may exercise any remedy available at law
or in equity, including but not limited to those listed below and those listed in the other Loan Documents, in such sequence or combination as Beneficiary may determine in Beneficiary’s sole discretion: 

7.1 Performance of Defaulted Obligations. Beneficiary may make any payment or perform any other obligation under the Loan
Documents or under Leases which Trustor has failed to make or perform, and Trustor hereby irrevocably appoints Beneficiary as the true and lawful attorney-in-fact for Trustor to make any such payment and perform any such obligation in the name of
Trustor. All payments made and expenses (including attorneys” fees and expenses) incurred by Beneficiary in this connection, together with interest thereon at the Default Rate from the date paid or incurred until repaid, will be part of the
Secured Obligations and will be immediately due and payable by Trustor to Beneficiary. In lieu of advancing Beneficiary’s own funds for such purposes, Beneficiary may use any funds of Trustor which may be in Beneficiary’s possession,
including but not limited to insurance or condemnation proceeds and amounts deposited for taxes, insurance premiums, or other purposes. 

7.2 Specific Performance and Injunctive Relief. Notwithstanding the availability of legal remedies, Beneficiary will be
entitled to obtain specific performance, mandatory or prohibitory injunctive relief, or other equitable relief requiring Trustor to cure or refrain from repeating any Default. 

7.3 Acceleration of Secured Obligations. Beneficiary may, without notice or demand, declare all of the Secured Obligations
immediately due and payable in full. 
  

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 7.4 Suit for Monetary Relief. Subject to the non-recourse provisions of the Note,
with or without accelerating the maturity of the Secured Obligations. Beneficiary may sue from time to time for any payment due under any of the Loan Documents, or for money damages resulting from Trustor’s default under any of the Loan
Documents. 
 7.5 Possession of Property. Beneficiary may enter and take possession of the Property without
seeking or obtaining the appointment of a receiver, may employ a managing agent for the Property, and may lease or rent all or any part of the Property, either in Beneficiary’s name or in the name of Trustor, and may collect the rents, issues,
and profits of the Property. Any revenues collected by Beneficiary under this Section will be applied first toward payment of all expenses (including attorneys’ fees) incurred by Beneficiary, together with interest thereon at the Default Rate
from the date incurred until repaid, and the balance, if any. will be applied against the Secured Obligations in such order and manner as Beneficiary may elect in its sole discretion. 

7.6 Enforcement of Security Interests. Beneficiary may exercise all rights of a secured party under the Code with respect to the
Chattels and the Intangible Personality, including but not limited to taking possession of. holding, and selling the Chattels and enforcing or otherwise realizing upon any accounts and general intangibles. Any requirement for reasonable notice of
the time and place of any public sale, or of the time after which any private sale or other disposition is to be made, will be satisfied by Beneficiary’s giving of such notice to Trustor at least five days prior to the time of any public sale
or the time after which any private sale or other intended disposition is to be made. 
 7.7 Foreclosure Against
Property. 
 (a) Beneficiary may foreclose this Deed of Trust, insofar as it encumbers the Property, either by judicial
action or through Trustee. Should Beneficiary elect to foreclose by exercise of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of
expenditures made and secured hereby as Trustee may require. 
 (b) Upon receipt of such notice from Beneficiary. Trustee shall
cause to be recorded, published and delivered to Trustor such Notice of Default and Election to Sell as is then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor. after lapse of such time as may then be required by
law and after recordation of such Notice of Default and after Notice of Sale having been given as required by law. sell the Property at the time and place of sale fixed by it in said Notice of Sale, either as a whole, or in separate lots or parcels
or items as Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of Sale. Trustee shall deliver to such purchaser or purchasers
thereof its good and sufficient deed or deeds conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
person, including, without limitation, Trustor, Trustee or Beneficiary, may- purchase at such sale and Trustor hereby covenants to warrant and defend the title of such purchaser or purchasers. Trustor hereby constitutes and appoints Trustee as its
attorney-in-fact with full power and authority to execute, deliver, file, record or process on behalf of Trustor any 

 

 24 

 
and all instruments or documents or to take any other action on behalf of Trustor reasonably required to accomplish the vesting of the Property, or any part thereof, in the purchaser or
purchasers at any sale conducted hereunder. 
 (c) All fees, costs and expenses of any kind incurred by Beneficiary in
connection with foreclosure of this Deed of Trust, including, without limitation, the costs of any appraisals of the Property obtained by Beneficiary, the cost of any title reports or abstracts, all costs of any receivership for the Property
advanced by Beneficiary, and all attorneys’ and consultants’ fees and expenses incurred by Beneficiary, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Trustor to Beneficiary at any
foreclosure sale. The proceeds of any sale under this Section shall be applied first to the fees and expenses of the Trustee or other officer conducting the sale, and then to the reduction or discharge of the Secured Obligations; any surplus
remaining shall be paid over to Trustor or to such other person or persons as may be lawfully entitled to such surplus. 
 (d)
Subject to California Civil Code § 2924g, Trustee may postpone sale of all or any portion of the Property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public announcement at
the time fixed by the preceding postponement or subsequently noticed sale, and without further notice make such sale at the time fixed by the last postponement, or may in its discretion, give a new notice of sale. 

(e) A sale of less than the whole of the Property or any defective or irregular sale made hereunder shall not exhaust the power of sale
provided for herein: and subsequent sales may be made hereunder until all obligations secured hereby have been satisfied, or the entire Property sold, without defect or irregularity. 

7.8 Appointment of Receiver. Beneficiary shall be entitled, as a matter of absolute right and without regard to the value of any
security for the Secured Obligations or the solvency of any person liable therefor, to the appointment of a receiver for the Property upon ex-parte application to any court of competent jurisdiction. Trustor waives any right to any hearing or notice
of hearing prior to the appointment of a receiver. Such receiver and its agents shall be empowered, but shall not be obligated, to (a) take possession of the Property and any businesses conducted by Trustor or any other person thereon and any
business assets used in connection therewith, (b) exclude Trustor and Trustor’s agents, servants, and employees from the Property, (c) collect the rents, issues, profits, and income therefrom, (d) complete any construction which
may be in progress, (e) do such maintenance and make such repairs and alterations as the receiver deems necessary, (f) use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense
of the receivership estate, (g) pay all taxes and assessments against the Property and the Chattels, all premiums for insurance thereon, all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance, and
(h) generally do anything which Trustor could legally do if Trustor were in possession of the Property. All expenses incurred by the receiver or its agents shall constitute a part of the Secured Obligations. Any revenues collected by the
receiver shall be applied first to the expenses of the receivership, including attorneys” fees incurred by the receiver and by Beneficiary, together with interest thereon at the Default Rate from the date incurred until repaid, and the balance
shall be applied toward the Secured Obligations or in such other manner as the court may direct. Unless 
  

 25 

 
sooner terminated with the express consent of Beneficiary, any such receivership will continue until the Secured Obligations have been discharged in full, or until title to the Property has
passed after foreclosure sale and all applicable periods of redemption have expired. 
 7.9 Right to Make Repairs,
Improvements. Should any part of the Property come into the possession of Beneficiary, Beneficiary may, but shall not be obligated to, use, operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of
preserving it or its value. Trustor covenants to promptly reimburse and pay to Beneficiary, at the place where the Note is payable, or at such other place as may be designated by Beneficiary in writing, the amount of all reasonable expenses
(including the cost of any insurance, taxes, or other charges) incurred by Beneficiary in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Beneficiary at the
Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Trustor and Beneficiary
shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured. 

7.10 Surrender of Insurance. Beneficiary may surrender the insurance policies maintained pursuant to the terms hereof, or any part
thereof, and receive and apply the unearned premiums as a credit on the Secured Obligations and. in connection therewith, Trustor hereby appoints Beneficiary (or any officer of Beneficiary), as the true and lawful agent and attorney-in-fact for
Trustor (with full powers of substitution), which power of attorney shall be deemed to be a power coupled with an interest and therefore irrevocable, to collect such premiums. 

7.11 Prima Facie Evidence. Trustor agrees that, in any assignments, deeds, bills of sale, notices of sale, or
postings, given by Beneficiary, any and all statements of fact or other recitals therein made as to the identity of Beneficiary, or as to the occurrence or existence of any Event of Default, or as to the acceleration of the maturity of the Secured
Obligations, or as to the request to sell, posting of notice of sale, notice of sale, time, place, terms and manner of sale and receipt, distribution and application of the money realized therefrom, and without being limited by the foregoing, as to
any other act or thing having been duly done by Beneficiary, shall be taken by all courts of law and equity as prima facie evidence that such statements or recitals state facts and arc without further question to be so accepted, and
Trustor does hereby ratify and confirm any and all acts that Beneficiary may lawfully do by virtue hereof. 
 ARTICLE 8 

 ASSIGNMENT OF LEASES AND RENTS 

8.1 Assignment of Leases and Rents. Trustor hereby unconditionally and absolutely grants, transfers and assigns unto Beneficiary
all rents, royalties, issues, profits and income (“Rents”) now or hereafter due or payable for the occupancy or use of the Property, and all Leases, whether written or oral, with all security therefor, including all guaranties thereof, now
or hereafter affecting the Property; on the condition that Beneficiary hereby grants to 
  

 26 

 
Trustor a license to collect and retain such Rents prior to the occurrence of any Event of Default hereunder. Such license shall be revocable by Beneficiary without notice to Trustor at any time
after the occurrence of an Event of Default. Trustor represents that the Rents and the Leases have not been heretofore sold, assigned, transferred or set over by any instrument now in force and will not at any time during the life of this assignment
be sold, assigned, transferred or set over by Trustor or by any person or persons whomsoever; and Trustor has good right to sell, assign, transfer and set over the same and to grant to and confer upon Beneficiary the rights, interest, powers and
authorities herein granted and conferred. Failure of Beneficiary at any time or from time to time to enforce the assignment of Rents and Leases under this Section shall not in any manner prevent its subsequent enforcement, and Beneficiary is not
obligated to collect anything hereunder, but is accountable only for sums actually collected. 
 8.2 Further Assignments.
Trustor shall give Beneficiary at any time upon demand any further or additional forms of assignment of transfer of such Rents, Leases and security as may be reasonably requested by Beneficiary, and shall deliver to Beneficiary executed copies of
all such Leases and security. 
 8.3 Application of Rents. Beneficiary shall be entitled to deduct and retain a just and
reasonable compensation from monies received hereunder for its services or that of its agents in collecting such monies. Any monies received by Beneficiary hereunder may be applied when received from time to time in payment of any taxes, assessments
or other liens affecting the Property regardless of the delinquency, such application to be in such order as Beneficiary may determine. The acceptance of this Deed of Trust by Beneficiary or the exercise of any rights by it hereunder shall not be,
or be construed to be, an affirmation by it of any Lease nor an assumption of any liability under any Lease. 
 8.4
Collection of Rents. Upon or at any time after an Event of Default shall have occurred and be continuing. Beneficiary may declare all sums secured hereby immediately due and payable, and may, at its option, without notice, and whether or not the
Secured Obligations shall have been declared due and payable, either in person or by agent, with or without bringing any action or proceeding, or by a receiver to be appointed by a court, (i) enter upon, take possession of, manage and operate
the Property, or any part thereof (including without limitation making necessary repairs, alterations and improvements to the Property); (ii) make, cancel, enforce or modify Leases; (iii) obtain and evict tenants; (iv) fix or modify
Rents: (v) do any acts which Beneficiary deems reasonably proper to protect the security thereof; and (vi) either with or without taking possession of the Property, in its own name sue for or otherwise collect and receive such Rents,
including those past due and unpaid. In connection with the foregoing, Beneficiary shall be entitled and empowered to employ attorneys, and management, rental and other agents in and about the Property and to effect the matters which Beneficiary is
empowered to do, and in the event Beneficiary shall itself effect such matters. Beneficiary shall be entitled to charge and receive reasonable management, rental and other fees therefor as may be customary in the area in which the Property is
located; and the reasonable fees, charges, costs and expenses of Beneficiary or such persons shall be additional Secured Obligations. Beneficiary may apply all funds collected as aforesaid, less costs and expenses of operation and collection,
including reasonable attorneys’ and agents’ fees, charges, costs and expenses, as aforesaid, upon any Secured Obligations, and in such order as Beneficiary may determine. The entering upon and taking possession of the Property, the
collection of such Rents 
  

 27 

 
and the application thereof as aforesaid shall not cure or waive any default or waive, modify or affect notice of default under the Note or this Deed of Trust or invalidate any act done pursuant
to such notice. 
 8.5 Authority of Beneficiary. Any tenants or occupants of any part of the Property are hereby
authorized to recognize the claims of Beneficiary hereunder without investigating the reason for any action taken by Beneficiary, or the validity or the amount of indebtedness owing to Beneficiary, or the existence of any default in the Note or this
Deed of Trust, or under or by reason of this assignment of Rents and Leases, or the application to be made by Beneficiary of any amounts to be paid to Beneficiary. The sole signature of Beneficiary shall be sufficient for the exercise of any rights
under this assignment and the sole receipt of Beneficiary for any sums received shall be a full discharge and release therefor to any such tenant or occupant of the Property. Checks for all or any part of the rentals collected under this assignment
of Rents and Leases shall be drawn to the exclusive order of Beneficiary. 
 8.6 Indemnification of Beneficiary. Nothing
herein contained shall be deemed to obligate Beneficiary to perform or discharge any obligation, duty or liability of any lessor under any Lease of the Property, and Trustor shall and does hereby indemnify and hold Beneficiary harmless from any and
all liability, loss or damage which Beneficiary may or might incur under any Lease of the Property or by reason of this assignment; and any and all such liability, loss or damage incurred by Beneficiary, together with the costs and expenses,
including reasonable attorneys’ fees, incurred by Beneficiary in defense of any claims or demands therefor (whether successful or not), shall be additional Secured Obligations, and Trustor shall reimburse Beneficiary therefor on demand.

 ARTICLE 9 

MISCELLANEOUS PROVISIONS 

9.1 Time of the Essence. Time is of the essence with respect to all of Trustor’s obligations under the Loan Documents.

 9.2 Joint and Several Obligations. If Trustor is more than one person or entity, then (a) all persons or entities
comprising Trustor are jointly and severally liable for all of the Secured Obligations; (b) all representations, warranties, and covenants made by Trustor shall be deemed representations, warranties, and covenants of each of the persons or
entities comprising Trustor; (c) any breach, Default or Event of Default by any persons or entities comprising Trustor hereunder shall be deemed to be a breach. Default or Event of Default of Trustor; (d) any reference herein contained to
the knowledge or awareness of Trustor shall mean the knowledge or awareness of any of the persons or entities comprising Trustor; and (e) any event creating personal liability of any of the persons or entities comprising Trustor shall create
personal liability for all such persons or entities. 
 9.3 Waiver of Homestead and Other Exemptions. To the extent
permitted by law, Trustor hereby waives all rights to any homestead or other exemption to which Trustor would otherwise be entitled under any present or future constitutional, statutory, or other

  

 28 

 
provision of applicable state or federal law. Trustor hereby waives any right it may have to require Beneficiary to marshal all or any portion of the security for the Secured Obligations.

 9.4 Non-Recourse; Exceptions to Non-Recourse. Except as expressly set forth in the Note, the recourse of Beneficiary
with respect to the obligations evidenced by the Note and the other Loan Documents shall be solely to the Property, Chattels and Intangible Personality, and any other collateral given as security for the Note. 

9.5 Rights and Remedies Cumulative. Beneficiary’s rights and remedies under each of the Loan Documents are cumulative of the
right and remedies available to Beneficiary under each of the other Loan Documents and those otherwise available to Beneficiary at law or in equity. No act of Beneficiary shall be construed as an election to proceed under any particular provision of
any Loan Document to the exclusion of any other provision in the same or any other Loan Document, or as an election of remedies to the exclusion of any other remedy which may then or thereafter be available to Beneficiary. 

9.6 No Implied Waivers. Beneficiary shall not be deemed to have waived any provision of any Loan Document unless such waiver is in
writing and is signed by Beneficiary. Without limiting the generality of the preceding sentence, neither Beneficiary’s acceptance of any payment with knowledge of a Default by Trustor, nor any failure by Beneficiary to exercise any remedy
following a Default by Trustor shall be deemed a waiver of such Default, and no waiver by Beneficiary of any particular Default on the part of Trustor shall be deemed a waiver of any other Default or of any similar Default in the future. 

9.7 No Third-Party Rights. No person shall be a third-party beneficiary of any provision of any of the Loan Documents. All
provisions of the Loan Documents favoring Beneficiary are intended solely for the benefit of Beneficiary, and no third party shall be entitled to assume or expect that Beneficiary will waive or consent to modification of any such provision in
Beneficiary’s sole discretion. 
 9.8 Preservation of Liability and Priority. Without affecting the liability of
Trustor or of any other person (except a person expressly released in writing) for payment and performance of all of the Secured Obligations, and without affecting the rights of Beneficiary with respect to any security not expressly released in
writing, and without impairing in any way the priority of this Deed of Trust over the interests of any person acquired or first evidenced by recording subsequent to the recording hereof, Beneficiary may, either before or after the maturity of the
Note, and without notice or consent: (a) release any person liable for payment or performance of all or any part of the Secured Obligations; (b) make any agreement altering the terms of payment or performance of all or any of the Secured
Obligations; (c) exercise or refrain from exercising, or waive, any right or remedy which Beneficiary may have under any of the Loan Documents; (d) accept additional security of any kind for any of the Secured Obligations; or
(e) release or otherwise deal with any real or personal properly securing the Secured Obligations. Any person acquiring or recording evidence of any interest of any nature in the Property, the Chattels, or the Intangible Personality shall be
deemed, by acquiring such interest or recording any evidence thereof, to have agreed and consented to any or all such actions by Beneficiary. 
  

 29 

 9.9 Subrogation of Beneficiary. Beneficiary shall be subrogated to the lien of any
previous encumbrance discharged with funds advanced by Beneficiary under the Loan Documents, regardless of whether such previous encumbrance has been released of record. 

9.10 Notices. Any notice required or permitted to be given by Trustor or Beneficiary under this Deed of Trust shall be in writing
and will be deemed given (a) upon personal delivery, (b) on the first business day after receipted delivery to a courier service which guarantees next-business-day delivery, or (c) on the third business day after mailing, by
registered or certified United States mail, postage prepaid, in any case to the appropriate party at its address set forth below: 

If to Trustor: 

GLB Encino, LLC 

400 South El Camino Real,
11th Floor 

San Mateo, California 94402 

Attention: General Counsel 

If to Beneficiary: 

SunAmerica Life Insurance Company 

c/o AIG Global Investment Corp. 

1 SunAmerica Center,
38th Floor 

Century City 

Los Angeles, California 90067-6022 

Attention: Director-Mortgage Lending and Real Estate 

with a copy to: 

Otten, Johnson, Robinson, Neff & 

        Ragonetti, P.C. 

950 Seventeenth Street, Suite 1600 

Denver, Colorado 80202 

Attention: Mark F. Copertino, Esq. 

Either party may change such party’s address for notices or copies of notices by giving notice to the other party in accordance with this Section.

 9.11 Release of Lien. Upon payment and performance in full of all of the Secured Obligations, Beneficiary will execute
and deliver to Trustor such documents as may be required to release this Deed of Trust of record. 
 9.12 Illegality. If
any provision of this Deed of Trust is held to be illegal, invalid, or unenforceable under present or future laws effective during the term of this Deed of Trust, the legality, validity, and enforceability of the remaining provisions of this Deed of
Trust shall not be affected thereby, and in lieu of each such illegal, invalid or unenforceable provision there shall be added automatically as a part of this Deed of Trust a provision as similar in terms to such illegal, invalid, or unenforceable
provision as may be possible and be legal, valid, and 
  

 30 

 
enforceable. If the rights and liens created by this Deed of Trust shall be invalid or unenforceable as to any part of the Secured Obligations, then the unsecured portion of the Secured
Obligations shall be completely paid prior to the payment of the remaining and secured portion of the Secured Obligations, and all payments made on the Secured Obligations shall be considered to have been paid on and applied first to the complete
payment of the unsecured portion of the Secured Obligations. 
 9.13 Usury Savings Clause. It is expressly stipulated and
agreed to be the intent of Beneficiary and Trustor at all times to comply with the applicable law governing the highest lawful interest rate. If the applicable law is ever judicially interpreted so as to render usurious any amount called for under
the Note or under any of the other Loan Documents, or contracted for, charged, taken, reserved or received with respect to the Loan, or if acceleration of the maturity of the Note, any prepayment by Trustor, or any other circumstance whatsoever,
results in Trustor having paid any interest in excess of that permitted by applicable law, then it is the express intent of Trustor and Beneficiary that all excess amounts theretofore collected by Beneficiary be credited on the principal balance of
the Note (or, at Beneficiary’s option, paid over to Trustor), and the provisions of the Note and other Loan Documents immediately be deemed reformed and the amounts thereafter collectible hereunder and thereunder reduced, without the necessity
of the execution of any new document, so as to comply with the applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of the Note does not include the
right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary for
the use. forbearance or detention of the Secured Obligations evidenced hereby or by the Note shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full term of such Secured Obligations until
payment in full so that the rate or amount of interest on account of such Secured Obligations does not exceed the maximum rate or amount of interest permitted under applicable law. The term “applicable law” as used herein shall mean any
federal or state law applicable to the Loan. 
 9.14 Obligations Binding Upon Trustor’s Successors. This Deed of
Trust is binding upon Trustor and Trustor’s successors and assigns, and shall inure to the benefit of Beneficiary, and its successors and assigns, and the provisions hereof shall likewise be covenants running with the land. The duties,
covenants, conditions, obligations, and warranties of Trustor in this Deed of Trust shall be joint and several obligations of Trustor and Trustor’s successors and assigns. 

9.15 Construction. All pronouns and any variations of pronouns herein shall be deemed to refer to the masculine, feminine, or
neuter, singular or plural, as the identity of the parties may require. Whenever the terms herein are singular, the same shall be deemed to mean the plural, as the identity of the parties or the context requires. 

9.16 Attorneys’ Fees. Any reference in this Deed of Trust to attorneys’ or counsel’s fees paid or incurred by
Beneficiary shall be deemed to include paralegals’ fees and legal assistants’ fees. Moreover, wherever provision is made herein for payment of attorneys, or counsel’s fees or expenses incurred by Beneficiary, such provision shall
include but not be limited to, such fees or expenses incurred in any and all judicial, bankruptcy, reorganization. 
  

 31 

 
administrative, or other proceedings, including appellate proceedings, whether such fees or expenses arise before proceedings are commenced, during such proceedings or after entry of a final
judgment. 
 9.17 Waiver and Agreement. TRUSTOR HEREBY EXPRESSLY WAIVES ANY RIGHT IT MAY HAVE UNDER APPLICABLE LAW TO
PREPAY THE NOTE, IN WHOLE OR IN PART, WITHOUT CHARGE, FEE OR PENALTY, UPON ACCELERATION OF THE MATURITY DATE OF THE NOTE, AND AGREES THAT, IF FOR ANY REASON A PREPAYMENT OF ALL OR ANY PART OF THE NOTE IS MADE, WHETHER VOLUNTARILY OR FOLLOWING ANY
ACCELERATION OF THE MATURITY DATE OF THE NOTE BY BENEFICIARY ON ACCOUNT OF THE OCCURRENCE OF ANY EVENT OF DEFAULT ARISING FOR ANY REASON, INCLUDING, WITHOUT LIMITATION, AS A RESULT OF ANY PROHIBITED OR RESTRICTED TRANSFER, FURTHER ENCUMBRANCE OR
DISPOSITION OF THE PROPERTY OR ANY PART THEREOF SECURING THE NOTE, OR ANY PROHIBITED DIRECT OR INDIRECT INTEREST IN TRUSTOR, THEN TRUSTOR SHALL BE OBLIGATED TO PAY, CONCURRENTLY WITH SUCH PREPAYMENT, THE PREPAYMENT PREMIUM PROVIDED FOR IN THE NOTE
(OR, IN THE EVENT OF ACCELERATION WHEN THE NOTE IS CLOSED TO PREPAYMENT, AS PROVIDED IN THE DEFINITION OF “SECURED OBLIGATIONS” SET FORTH IN ARTICLE 1 HEREOF) AND ANY AND ALL OTHER CHARGES AND FEES DUE UNDER THE LOAN DOCUMENTS. TRUSTOR
HEREBY EXPRESSLY WAIVES ANY RIGHT IT MAY HAVE UNDER CALIFORNIA CIVIL CODE SECTION 2954.10 WITH RESPECT TO THE FOREGOING. TRUSTOR HEREBY DECLARES THAT BENEFICIARY’S AGREEMENT TO MAKE THE LOAN EVIDENCED BY THE NOTE AT THE INTEREST RATE AND FOR
THE TERM SET FORTH IN THE NOTE CONSTITUTES ADEQUATE CONSIDERATION, GIVEN INDIVIDUAL WEIGHT BY TRUSTOR, FOR THIS WAIVER AND AGREEMENT. 
  

					
		 	
 

	  	Trustor’s Initials

 9.18
Waiver of Jury Trial. TRUSTOR HEREBY AGREES TO WAIVE TO THE FULLEST EXTENT NOT PROHIBITED BY LAW, ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF: (A) THE LOAN OR THE PROPERTY, (B) THE NOTE, THIS
DEED OF TRUST, OR ANY OTHER LOAN DOCUMENT OR INSTRUMENT BETWEEN TRUSTOR AND BENEFICIARY RELATING TO THE NOTE, THE PROPERTY OR THE LOAN, OR (C) ANY DEALINGS BETWEEN TRUSTOR AND BENEFICIARY RELATING TO THE SUBJECT MATTER OF THE NOTE OR THE LOAN.
THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THAT RELATIONSHIP, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, ANTITRUST
CLAIMS, BREACH OF DUTY CLAIMS. AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. TRUSTOR HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH LEGAL COUNSEL OF ITS OWN CHOOSING, OR HAS HAD AN OPPORTUNITY TO DO SO, AND THAT IT
KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS HAVING HAD THE OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL. THIS WAIVER IS 

 

 32 

 
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS, OR MODIFICATIONS TO THIS DEED OF
TRUST, THE NOTE OR ANY OTHER LOAN DOCUMENT. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS WRITTEN CONSENT TO A TRIAL BY THE COURT WITHOUT A JURY. 

9.19 Governing Laws. The substantive laws of the State of California shall govern the validity, construction, enforcement, and
interpretation of this Deed of Trust. 
 9.20 Inconsistency. In the event of any inconsistency between the terms of the
Loan Documents and the terms of that certain Mortgage Loan Application between Trustor and Beneficiary, as amended, the terms of the Loan Documents shall govern and control in all respects. 

9.21 Anti-Terrorism. Trustor represents, warrants and covenants to Beneficiary that: 

(a) None of Trustor, Guarantor or any of their respective constituents, affiliates, members, officers, directors or any individual who
has the authority to execute or authorize, or who has been authorized to execute, and/or whose consent is required for the execution of the Loan Documents on behalf of Trustor or Guarantor is in violation of any laws relating to terrorism or money
laundering, including without limitation, Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or
Support Terrorism, (as the same has been, or may hereafter be, renewed, extended, amended or replaced, the “Executive Order”) and the Bank Secrecy Act (31 U.S.C. §5311 et seq.), as amended by the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56, as the same has been, or may hereafter be, renewed, extended, amended or replaced, the “Patriot Act”). As used herein,
“Anti-Terrorism Laws” shall mean any laws relating to terrorism or money laundering, including the Executive Order, the Patriot Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by the United States
Treasury Department’s Office of Foreign Asset Control (as any of the foregoing laws may from time to time be renewed, extended, amended, or replaced). 

(b) None of Trustor, Guarantor, their respective constituents, affiliates, members, officers, directors or any individual who has the
authority to execute or authorize, or who has been authorized to execute, and/or whose consent is required for the execution of the Loan Documents on behalf of Trustor or Guarantor, any person having a beneficial interest in Trustor or Guarantor,
any person for whom Trustor or Guarantor is acting as agent or nominee, any of their respective brokers or other agents acting in any capacity in connection with the Loan or, to Trustor’s knowledge as of the date hereof, Trustor’s
predecessor in interest to the Property is a “Prohibited Person,” which is defined as follows: 
 (i) a person or
entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; 
  

 33 

 (ii) a person or entity owned or controlled by, or acting for or on behalf of, any person
or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; 
 (iii) a person
or entity with whom Beneficiary or any bank or other institutional lender is prohibited from dealing or otherwise engaging in any Anti-Terrorism Law; 

(iv) a person or entity who commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive
Order; 
 (v) a person or entity that is named as a “specially designated national” or “blocked person” on
the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official Website, http://www.treas.gov/ofac/tllsdn.pdf or at any replacement Website or other replacement official publication of such list; and

 (vi) a person or entity who is affiliated with a person or entity listed above. 

(c) None of Trustor, Guarantor, any of their respective constituents, affiliates, members, officers, directors or any individual who has
the authority to execute or authorize, or who has been authorized to execute, and/or whose consent is required for the execution of the Loan Documents on behalf of Trustor or Guarantor, any of their respective brokers or other agents acting in any
capacity in connection with the Loan or, to Trustor’s knowledge as of the date hereof, the seller of the Property (if any portion of the Property is being acquired with proceeds of the Loan), does or shall (i) conduct any business or
engage in any transaction or dealing with any Prohibited Person, including making or receiving any contribution of funds, goods or services to or for the benefit of any Prohibited Person or leasing any portion of the Property to any Prohibited
Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order, or (iii) 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 prohibitions set forth in any Anti-Terrorism Law. 

(d) Trustor shall promptly deliver to Beneficiary any certification or other evidence reasonably requested from time to time by
Beneficiary confirming Trustor’s compliance with this Section. The representations, warranties and covenants set forth in this Section shall be deemed repeated and reaffirmed by Trustor as of each date that Trustor makes a payment to
Beneficiary under the Note, this Deed of Trust and the other Loan Documents or receives any payment from Beneficiary. Trustor shall promptly notify Beneficiary in writing should Trustor become aware of any change in the information set forth in
these representations, warranties and covenants. 
 9.22 Modification of Insurance Agreement. Trustor and Beneficiary
acknowledge and agree that the terms “Note” and “Deed of Trust” used in the Insurance 
  

 35 

 
Agreement shall mean and refer to the Note, as defined herein, and this Deed of Trust, respectively. 

[Balance of Page Intentionally Left Blank] 
  

 35 

 IN WITNESS WHEREOF, Trustor has executed and delivered this Deed of Trust as of the date
first mentioned above. 
  

			
	GLB ENCINO, LLC, a Delaware limited liability company
		
	By:	 	
 

		 	Brian Peay, Chief Financial Officer

					
	State of California	 	)	 	
		 	)	 	ss
	County of San Mateo	 	)	 	

 On
January 26th 2007, before me, Karen J. Uribe,
personally appeared Brian S. Peay, personally known to me, on evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the
instrument the person, or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and
official seal. 
  

					
	

	 		 	
 

	 		 	Signature of Notary

 EXHIBIT A 

to 

AMENDED AND RESTATED DEED OF TRUST, SECURITY AGREEMENT, FIXTURE 

FILING, FINANCING STATEMENT AND ASSIGNMENT OF LEASES AND RENTS 

(Legal Description) 

Real property in the City of Los Angeles, County of Los Angeles, State of California, described as follows: 

PARCEL 1: 

THAT PORTION OF LOT 6 IN BLOCK 9 OF TRACT NO. 2955, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP
RECORDED IN BOOK 31 PAGES 62 TO 70 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: 

BEGINNING AT THE NORTHEAST CORNER OF SAID LOT; THENCE SOUTH 0° 03’ 30” EAST ALONG THE EASTERLY LINE OF SAID
LOT 180.98 FEET, MORE OR LESS, TO A POINT DISTANT NORTH 0° 03’ 30” WEST 68 FEET FROM THE NORTHEAST CORNER OF THE LAND DESCRIBED IN DEED TO CHARLES LEONARD MURDOCK, RECORDED IN BOOK 19353 PAGE 263, OFFICIAL RECORDS; THENCE PARALLEL WITH
THE NORTHEASTERLY LINE OF SAID LAND OF MURDOCK NORTH 75° 29’ 30” WEST 196.55 FEET TO A LINE BEARING SOUTH 14° 30’ 30” WEST FROM A POINT THAT IS NORTH 52° 13’ 30” EAST 412 FEET, MEASURED ALONG THE NORTHWEST
LINE OF SAID LOT FROM THE MOST WESTERLY CORNER OF SAID LOT; THENCE NORTH 14° 30’ 30” EAST TO SAID NORTHWESTERLY LINE; THENCE ALONG THE BOUNDARY OF SAID LOT, NORTHEASTERLY, EASTERLY AND SOUTHEASTERLY TO THE POINT OF BEGINNING.

 PARCEL 2: 

THAT PORTION OF LOT 6 IN BLOCK 9 TRACT NO. 2955, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP
RECORDED IN BOOK 31 PAGES 62 TO 70 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT IN THE NORTHWESTERLY LINE OF SAID LOT THAT IS DISTANT NORTH 52° 13’ 30” EAST 412 FEET
FROM THE MOST EASTERLY CORNER OF SAID LOT 6; THENCE ALONG SAID NORTHWESTERLY LINE SOUTH 52° 13’ 30” WEST 242 FEET TO THE MOST NORTHERLY CORNER OF THE LAND DESCRIBED IN THE DEED TO CHARLES LEONARD MURDOCK, RECORDED IN BOOK 19353 PAGE
263, OFFICIAL RECORDS OF SAID COUNTY; THENCE ALONG THE NORTHEASTERLY LINE OF SAID LAND OF MURDOCK SOUTH 75° 29’ 30” EAST 361.69 FEET TO THE EAST LINE OF SAID LOT 6; THENCE ALONG SAID EAST LINE NORTH 0° 03’ 30” WEST 68.00
FEET; THENCE PARALLEL WITH THE NORTHEASTERLY LINE OF SAID LAND OF MURDOCK, NORTH 75° 29’ 30” WEST 196.55 FEET TO A LINE BEARING SOUTH 14° 30’ 30” WEST FROM THE POINT OF BEGINNING; THENCE ALONG SAID LINE NORTH 14°
30’ 30” EAST 125.62 FEET TO THE POINT OF BEGINNING. 
 PARCEL 3: 

THAT PORTION OF LOT 6 IN BLOCK 9 OF TRACT NO. 2955, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP
RECORDED IN BOOK 31 PAGES 62 TO 70 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: 

BEGINNING AT A POINT IN THE SOUTHERLY LINE OF SAID LOT DISTANT ALONG SAID LINE SOUTH 74° 16’ 30” EAST 276.85 FEET FROM THE
MOST WESTERLY CORNER OF SAID LOT; 
  

 A-1 

 
THENCE NORTH 15° 43’ 30” EAST 85.72 FEET; THENCE NORTH 74° 16’ 30” WEST 39.54 FEET; THENCE NORTH 77° 14’ 10” WEST 181.04 FEET TO THE NORTHWESTERLY LINE
OF SAID LOT; THENCE ALONG SAID NORTHWESTERLY LINE NORTH 52° 13’ 30” EAST 75 FEET TO A POINT DISTANT NORTHEASTERLY ALONG SAID NORTHWESTERLY LINE 170 FEET FROM THE MOST WESTERLY CORNER OF SAID LOT; THENCE SOUTH 75° 29’ 30”
EAST 361.69 FEET TO A POINT IN THE EASTERLY LINE OF SAID LOT DISTANT NORTHERLY ALONG SAID EASTERLY LINE 150 FEET FROM THE SOUTHEASTERLY CORNER OF SAID LOT; THENCE ALONG SAID EASTERLY LINE SOUTH 0° 03’ 30” EAST 150 FEET TO SAID
SOUTHEASTERLY CORNER; THENCE ALONG THE SOUTHERLY LINE OF SAID LOT NORTH 74° 16’ 30” WEST 226.68 FEET TO THE POINT OF BEGINNING. 

PARCEL 4: 

THOSE PORTIONS OF LOTS 1 AND 4 OF TRACT NO. 34766, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP
RECORDED IN BOOK 920 PAGES 31 TO 34 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, TOGETHER WITH THOSE PORTIONS OF LOT 5, IN BOOK 9 OF TRACT NO. 2955, IN SAID CITY, COUNTY AND STATE, AS PER MAP RECORDED IN BOOK 31 PAGES 62
TO 70 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS A WHOLE AS FOLLOWS: 
 BEGINNING AT
THE MOST WESTERLY TERMINUS OF THAT CERTAIN NORTHERLY LINE OF SAID LOT 4 SHOWN ON THE MAP OF SAID TRACT NO. 34766, AS HAVING A BEARING AND LENGTH OF NORTH 74° 16’ 30” WEST 250.00 FEET; THENCE SOUTH 0° 03’ 30” EAST ALONG
THE WESTERLY LINE OF SAID LOT 4 A DISTANCE OF 99.33 FEET; THENCE SOUTH 74° 17’ 53” EAST 4.98 FEET; THENCE NORTH 15° 43’ 30” EAST 75.30 FEET TO A LINE THAT IS PARALLEL WITH AND DISTANT 20.28 FEET SOUTHERLY MEASURED AT
RIGHT ANGLES FROM THE ABOVE MENTIONED NORTHERLY LINE OF SAID LOT 4; THENCE SOUTH 74° 16’ 30” EAST ALONG SAID PARALLEL LINE 18.00 FEET; THENCE NORTH 15° 43’ 30” EAST 20.28 FEET TO SAID NORTHERLY LINE OF LOT 4; THENCE SOUTH
74° 16’ 30” EAST ALONG SAID NORTHERLY LINE 110.00 FEET; THENCE SOUTH 15° 43’ 30” WEST 20.28 FEET TO SAID LAST MENTIONED PARALLEL LINE; THENCE SOUTH 74° 16’ 30” EAST ALONG SAID PARALLEL LINE 95.73 FEET TO THE
SOUTHERLY PROLONGATION OF THE WESTERLY LINE OF SAID LOT 4 OF TRACT NO. 34766; THENCE ALONG SAID PROLONGATION NORTH 0° 03’ 30” WEST 160.29 FEET TO THE SOUTHWEST CORNER OF SAID LOT 1 OF TRACT NO. 34766; THENCE ALONG THE PROLONGATION OF
THE SOUTHERLY LINE OF LOT 1 OF SAID TRACT NO. 34766 NORTH 74° 16’ 30” WEST 27.31 FEET; THENCE NORTH 15° 43’ 30” WEST 63.33 FEET; THENCE SOUTH 74° 16’ 30” EAST 7.24 FEET; THENCE NORTH 15° 43’
30” EAST 71.39 FEET TO THE NORTHERLY LINE OF LOT 1 OF SAID TRACT NO. 34766; THENCE ALONG SAID LAST MEASURED NORTHERLY LINE NORTH 74° 16’ 30” WEST TO THE NORTHWEST CORNER OF LOT 1 OF SAID TRACT NO. 34766; THENCE ALONG THE
PROLONGATION OF THE WESTERLY LINE OF LOT 1 OF SAID TRACT NO. 34766 NORTH 0° 03’ 30” WEST; TO THE NORTHERLY LINE OF LOT 5 IN BLOCK 9 OF SAID TRACT NO. 2955, THENCE ALONG SAID LAST MENTIONED NORTHERLY LINE NORTH 74° 16’ 30”
WEST TO THE NORTHWEST CORNER OF SAID LOT 5 IN BLOCK 9 OF TRACT NO. 2955; THENCE ALONG THE WESTERLY LINE OF SAID LOT 5 IN BLOCK 9 OF TRACT NO. 2955; SOUTH 0° 03’ 30” WEST TO THE POINT OF BEGINNING. 

APN: 2289-001-034 and 2289-019-015 and 2289-019-016 

 

 A-2

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