Document:

Exhibit 10.4

 

LEASE AMENDMENT #2

 

This Lease Amendment #2 (“Amendment”)
dated October 9, 2007 is by and between 1875/1925 CENTURY PARK EAST
COMPANY, a California general partnership (“Landlord”), and 1ST
CENTURY BANK, N.A. (“Tenant”).

 

RECITALS

 

WHEREAS, 1875/1925 CENTURY PARK
EAST COMPANY, a California general partnership, as Landlord, and 1ST
CENTURY BANK, N.A., as Tenant, entered into that certain lease agreement dated November 5,
2003 (the “Lease”), wherein there was demised to Tenant by Landlord the Premises
consisting of:  1) Premises A, known as Suite D,
consisting of 3,629 rentable square feet (3,158 usable square feet) on the
ground floor of the building situated at 1875 Century Park East, Los Angeles,
California; and 2) Premises B, known as Suite 1400, consisting of 9,316
rentable square feet (8,108 usable square feet) on the 14th floor of
the building situated at 1875 Century Park East, Los Angeles, California for a
term of approximately ten (10) years commencing June 2, 2004 and
terminating June 30, 2014; and

 

WHEREAS, said Lease was
subsequently amended by Lease Amendment #1 dated June 9, 2006, increasing
Premises B to 12,458 rentable square feet (10,843 usable square feet); and

 

WHEREAS, Landlord and Tenant
desire to further amend the Lease to provide for other changes and
modifications as mutually agreed upon effective December 1, 2007; and

 

NOW, THEREFORE, in
consideration of the terms, covenants, conditions and agreements set forth in
the Lease as amended and in this Amendment, the parties hereto agree as
follows:

 

 

1.                                     That
the Rentable Area of Premises A as set forth under Paragraphs A(1) and 1.4 of the Lease, as amended, shall be
increased by 3,155 rentable square feet (“Expansion Premises”) commonly known
as 1875 Century Park East, Suite B shown crosshatched on the plan marked Exhibit “A”
attached hereto and made a part hereof, thereby increasing the total rentable
area of Premises A from 3,629 rentable square feet to 6,784 rentable square
feet.  The usable area of Premises A
shall be increased by 2,746 usable square feet from 3,158 usable square feet to
5,904 usable square feet.

 

The Rentable Area of Premises B shall remain the same.

 

The total area of the combined Premises comprised of Premises A and
Premises B shall be 19,242 rentable square feet (16,747 usable square feet).

 

2.                                     That
the Term as set forth in Paragraph A(2)(a) of the Lease, as amended, for
the Expansion Premises only shall be ten (10) years commencing December 1,
2007 and terminating November 30, 2017. 
Pursuant to the Lease, the Term for the remainder of the Premises shall
terminate on June 30, 2014.

 

3.                                     That
the following Rental schedule shall be applicable during the Lease periods
shown below and such figures shall be read in Paragraphs A(3), 3.1 and 3.2 of
the Lease, as amended, during the applicable Lease periods.

 

	
  Lease Period

  	
   

  	
  Annual Rental

  	
   

  	
  Monthly Rental

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12/1/2007

  	
  -

  	
  8/31/2008

  	
   

  	
  $

  	
  568,707.72

  	
   

  	
  $

  	
  47,392.31

  	
   

  
	
  9/1/2008

  	
  -

  	
  11/30/2008

  	
   

  	
  $

  	
  571,724.04

  	
   

  	
  $

  	
  47,643.67

  	
   

  
	
  12/1/2008

  	
  -

  	
  6/30/2009

  	
   

  	
  $

  	
  574,336.44

  	
   

  	
  $

  	
  47,861.37

  	
   

  
	
  7/1/2009

  	
  -

  	
  8/31/2009

  	
   

  	
  $

  	
  589,870.44

  	
   

  	
  $

  	
  49,155.87

  	
   

  
	
  9/1/2009

  	
  -

  	
  11/30/2009

  	
   

  	
  $

  	
  592,886.76

  	
   

  	
  $

  	
  49,407.23

  	
   

  
	
  12/1/2009

  	
  -

  	
  8/31/2010

  	
   

  	
  $

  	
  595,577.40

  	
   

  	
  $

  	
  49,631.45

  	
   

  
	
  9/1/2010

  	
  -

  	
  11/30/2010

  	
   

  	
  $

  	
  598,970.76

  	
   

  	
  $

  	
  49,914.23

  	
   

  
	
  12/1/2010

  	
  -

  	
  8/31/2011

  	
   

  	
  $

  	
  601,742.16

  	
   

  	
  $

  	
  50,145.18

  	
   

  

 

 

	
  Lease Period

  	
   

  	
  Annual Rental

  	
   

  	
  Monthly Rental

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9/1/2011

  	
  -

  	
  11/30/2011

  	
   

  	
  $

  	
  604,758.48

  	
   

  	
  $

  	
  50,396.54

  	
   

  
	
  12/1/2011

  	
  -

  	
  12/31/2011

  	
   

  	
  $

  	
  607,613.04

  	
   

  	
  $

  	
  50,634.42

  	
   

  
	
  1/1/2012

  	
  -

  	
  8/31/2012

  	
   

  	
  $

  	
  630,914.04

  	
   

  	
  $

  	
  52,576.17

  	
   

  
	
  9/1/2012

  	
  -

  	
  11/30/2012

  	
   

  	
  $

  	
  634,307.40

  	
   

  	
  $

  	
  52,858.95

  	
   

  
	
  12/1/2012

  	
  -

  	
  8/31/2013

  	
   

  	
  $

  	
  637,247.64

  	
   

  	
  $

  	
  53,103.97

  	
   

  
	
  9/1/2013

  	
  -

  	
  11/30/2013

  	
   

  	
  $

  	
  641,018.04

  	
   

  	
  $

  	
  53,418.17

  	
   

  
	
  12/1/2013

  	
  -

  	
  6/30/2014

  	
   

  	
  $

  	
  644,046.48

  	
   

  	
  $

  	
  53,670.54

  	
   

  
	
  7/1/2014

  	
  -

  	
  11/30/2014

  	
   

  	
  $

  	
  103,975.68

  	
   

  	
  $

  	
  8,664.64

  	
   

  
	
  12/1/2014

  	
  -

  	
  11/30/2015

  	
   

  	
  $

  	
  107,094.96

  	
   

  	
  $

  	
  8,924.58

  	
   

  
	
  12/1/2015

  	
  -

  	
  11/30/2016

  	
   

  	
  $

  	
  110,307.84

  	
   

  	
  $

  	
  9,192.32

  	
   

  
	
  12/1/2016

  	
  -

  	
  11/30/2017

  	
   

  	
  $

  	
  113,617.08

  	
   

  	
  $

  	
  9,468.09

  	
   

  

 

4.                                     That
the Security Deposit as set forth in Paragraphs A(6) and 5 of the Lease,
as amended, shall be increased by $9,664.64 from $44,005.90 to $53,670.54.

 

5.                                     That
Exhibit “A” of the Lease, as amended, shall be deleted and Exhibit “A”
attached hereto shall be added.

 

6.                                     That
Tenant accepts the Expansion Premises in their “as is” condition, except
Landlord shall provide Tenant with an allowance of $76,887.35 (“Allowance”) for
Landlord-approved permanent Tenant Improvements to the Expansion Premises.  All Tenant Improvements shall be made in
accordance with Exhibit “C” and Paragraph 7 of the Lease.

 

In addition to
the Allowance granted above, Landlord shall pay fifty percent (50%) of the
costs (but in no event shall Landlord pay more than $15,000.00) for Tenant to
remove and/or relocate, as the case may be, the existing air conditioning
package units and electrical transformer equipment from Premises A and any
electrical engineering drawings related thereto.

 

 

Tenant shall have the option to apply any unused portion of the
previous allowance provided to Tenant under Lease Amendment #1 ($62,840.00
total) to Landlord-approved permanent Tenant Improvements to the Expansion
Premises.

 

7.                                     That
the number “48” as set forth in Paragraph A(10) and
Exhibit “G” of the Lease, as amended, shall be deleted and the number “58”
shall be inserted.

 

Prior to June 1,
2008, Tenant shall have the option to purchase, at the prevailing monthly rates
for reserved parking, the two (2) reserved parking spaces in the parking
structure located next to the two (2) spaces currently marked “Leasing
Agent Only” from Tenant’s total allotment of 58 parking spaces.  If Tenant does not elect to purchase said
spaces before June 1, 2008, Landlord shall have no obligation to rent said
spaces to Tenant thereafter.

 

8.                                     That
the number of directory strips provided to Tenant in the Addendum to the Lease,
as amended, shall be increased from 23 to 33.

 

9.                                     That
in addition to the signage set forth in the Addendum to the Lease, Tenant, at
Tenant’s sole cost and expense, shall have the option to install
Building-standard “eyebrow” signage on the exterior of the Expansion Premises
in a location designated by Landlord.

 

10.                               That
this Amendment shall be read with and construed with the aforesaid Lease, as
amended, and all of the terms, covenants, conditions, agreements and
limitations set forth in the Lease, as amended, except as specifically
mentioned herein, shall remain and be in full force and effect.  In the event a conflict exists between the
terms and conditions of this Amendment and the terms and conditions of the
Lease, as amended, the terms and conditions of this Amendment shall control.

 

 

IN WITNESS
WHEREOF the parties have executed this Amendment the day and year first above
written.

 

 

“TENANT”

	
   

  	
   

  
	
  1ST CENTURY BANK, N.A.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Jason DiNapoli.

  	
   

  
	
   

  	
   

  
	
  Print Name:  Jason DiNapoli

  	
   

  
	
   

  	
   

  
	
  Its:  President
  and COO

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Dan T. Kawamoto.

  	
   

  
	
   

  	
   

  
	
  Print Name:  Dan T. Kawamoto

  	
   

  
	
   

  	
   

  
	
  Its:  EVP
  - CFO

  	
   

  
				

 

 

“LANDLORD”

	
   

  	
   

  
	
  1875/1925 CENTURY PARK EAST COMPANY,

  	
   

  
	
  a California general partnership

  	
   

  
	
   

  	
   

  
	
  By:

  	
  WP Twin
  Towers, Inc.,

  	
   

  
	
   

  	
  a California
  corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Nadine
  Watt.

  	
   

  
	
   

  	
   Nadine Watt, President

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