Document:

ex_10-1.htm

    
      

      

    

    Exhibit
10.1

    

     

     

    DATED
17th JANUARY,
2008

     

     

     

     

     

     

     

     

    
 

    CHINA
ENTERTAINMENT GROUP, INC.

     

    and

     

    IMPERIAL
INTERNATIONAL LIMITED

     

     

    
      
        

      

    

    AGREEMENT

    for
the sale and purchase of 120 shares in

    the
issued share capital

    of

    Metrolink
Pacific Limited

    
      
 

     

    

    

     

    
 

    
 

     

    
      	 	Robertsons
	 	57th
  Floor
	 	The
  Center
	 	99 Queen's Road
      Central
	 	Hong
  Kong

    

     

    
      
        
        

      

      
         

        
          

        

      

      
        
        

      

    

    

    THIS
AGREEMENT IS MADE ON 17TH DAY OF
JANUARY, 2008

     

    BETWEEN:

    

    
      	
              (1)

            	
              CHINA
      ENTERTAINMENT GROUP, INC., a company incorporated in Nevada whose
      principal executive office is at Unit 3409, Shun Tak Centre, West Tower,
      168-200 Connaught Road Central, Hong Kong (the "Vendor");
    and

            

    

    

    
      	
              (2)

            	
              IMPERIAL
      INTERNATIONAL LIMITED, a company incorporated in the British Virgin
      Islands whose registered office is at P.O. Box 71, Craigmuir Chambers,
      Road Town, Tortola, British Virgin Islands  (the
      "Purchaser").

            

    

     

     

    WHEREAS:

    

    
      	
              1.

            	
              The
      Company is a company established in the British Virgin Islands with
      limited liability details of which are set out in Schedule
    1.

            

    

    

    
      	
              2.

            	
              At
      the date of this Agreement, the Vendor is the legal and beneficial owner
      of 120 issued shares in the registered capital of the Company representing
      100% of the entire issued share capital of the
  Company.

            

    

    

    
      	
              3.

            	
              The
      Vendor has agreed to sell and the Purchaser has agreed to purchase 100% of
      the total issued and paid up capital of the Company from the Vendor on the
      terms and conditions contained in this
  Agreement.

            

    

    

    
      	
              5.

            	
              Upon
      Completion, the Purchaser will own 100% of the issued registered capital
      of the Company.

            

    

     

    IT IS
AGREED as follows:

    

    
      	
              1.  

            	
              INTERPRETATION

            

    

     

    
      
        	
                1.1

              	
                In
      this Agreement, and in the Schedules, the following definitions are
      used:

              

      

      
         

        
          	
                   
      

                	
                  "Company"
      means Metrolink Pacific Limited, a company incorporated in the British
      Virgin Islands;

                
	 	 
	 	"business
      day" means a day (not being a Saturday or days on which a typhoon signal
      No. 8 or black rainstorm warning is hosted in Hong Kong at 10:00 a.m.) on
      which banks are generally open for general banking business in Hong
      Kong;
	 	 
	 	"Companies
      Ordinance" means the Companies Ordinance, Chapter 32 of the Laws of Hong
      Kong;
	 	 
	 	"Completion"
      means completion of the sale and purchase of the Sale Shares in accordance
      with clause 5;
	 	 
	 	"Conditions"
      means the conditions specified in clause 3;
	 	 
	 	"Effective
      Date" means 31st December, 2007;
	 	 
	 	"Group"
      means the Company and its subsidiaries from time to time;
	 	 
	 	"Hong
      Kong" means the Hong Kong Special Administrative Region of the PRC;
    
	 	 
	 	"Parties"
      means the named parties to this Agreement and "Party" means any one of
      them;
	 	 
	 	"PRC"
      means the People’s Republic of China;
	 	 
	 	"Sale
      Shares" means in aggregate the 120 Shares to be sold by the Vendor to the
      Purchaser, representing 100% of the entire registered and issued capital
      of the Company;

        

         

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

         

        
          	 	"Shares"
      means ordinary shares in the registered capital of the
  Company;
	 	 
	 	"Warranties"
      means the representations and warranties set out in Schedule
  2;
	 	 
	 	"US$"
      means the United States
dollars;

        

      

    

    

    
      	
              1.2

            	
              In
      this Agreement, words and expressions defined in the Companies Ordinance
      shall be construed as having the meaning thereby attributed to them, save
      where the context otherwise
requires.

            

    

    

    
      	
              1.3

            	
              In
      this Agreement, save where the context otherwise
  requires:

            

    

     

    
      
        	
                 
      

              	
                (A)

              	
                
                  words
      in the singular shall include the plural, and vice
      versa;

                

              

      

      

      
        	
                 
      

              	
                (B)

              	
                
                  the
      masculine gender shall include the feminine and neutral and vice
      versa;

                

              

      

       

    

    
      
        	
                 
      

              	
                (C)

              	
                
                  a
      reference to a person shall include a reference to a firm, a body
      corporate, an unincorporated association or to a person’s executors or
      administrators;

                

              

      

      

      
        	
                 
      

              	
                (D)

              	
                
                  a
      reference to a clause, sub-clause, Schedule (other than to a schedule to a
      statutory provision) shall be a reference to a clause, sub-clause,
      Schedule (as the case may be) of or to this
    Agreement;

                

              

      

       

    

    
      
        
          	
                   
      

                	
                  (E)

                	
                  
                    if
      a period of time is specified and dates from a given day or the day of an
      act or event, it shall be calculated exclusive of that
      day;

                  

                

        

        

        
          	
                   
      

                	
                  (F)

                	
                  
                    the
      headings in this Agreement are for convenience only and shall not affect
      the interpretation of any provision of this
    Agreement;

                  

                

        

         

      

      
        
          	
                   
      

                	
                  (G)

                	
                  
                    references
      to this Agreement include this Agreement as amended or supplemented in
      accordance with its terms; 

                  

                

        

        

        
          	
                   
      

                	
                  (H)

                	
                  
                    a
      document in the agreed form shall mean a document the form of which has
      been agreed by the parties
hereto;

                  

                

        

         

        
          
            	
                     
      

                  	
                    (I)

                  	
                    
                      all
      warranties and obligations given or entered into by more than one person
      are given or entered into
severally.

                    

                  

          

           

        

      

    

    
      	
              1.4

            	
              The
      designations adopted in the recitals and introductory statements preceding
      this clause apply throughout this Agreement and the
    Schedules.

            

    

     

     

    
      	
              2.  

            	
              SALE
      AND PURCHASE

            

    

     

    
      
        	
                 
      

              	
                Subject
      to the terms and conditions of this Agreement, the Vendor shall, with
      effect from the Effective Date, sell as legal and beneficial owner and the
      Purchaser shall purchase or procure the purchase of, the Sale Shares, free
      from any option, charge, lien, equity, encumbrance, rights of pre-emption
      or any other third party rights whatsoever and together with all rights
      attached to them at the Effective Date or subsequently becoming attached
      to them.

              

      

    

     

     

    
      	
              3.  

            	
              CONDITIONS

            

    

    

    
      	
               
      

            	
              The
      provisions of this Agreement, other than this clause, clause 8
      (Announcements), clause 10 (Costs), clause 11 (Notices) and clause 13
      (Governing Law, Service of Process and Arbitration) are subject to each of
      the following conditions being satisfied in all respects (or
      waived):

            

    

     

    
      
        
          	
                   
      

                	
                  (A)

                	
                  
                    
                      no
      event having occurred since the date hereof to Completion, the consequence
      of which is to materially and adversely affect the financial position,
      business or property, results of operations or business prospects of the
      Group and such material adverse effect shall not have been
      caused;

                    

                  

                

        

         

      

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    
      
        
          	
                   
      

                	
                  (B)

                	
                  
                    
                      the
      passing by the shareholders of the Vendor at a general meeting to be
      convened and held (if necessary) of an ordinary resolution to approve
      ratify and/or confirm this Agreement and the transaction contemplated
      hereunder; and

                    

                  

                

        

        

        
          	
                   
      

                	
                  (C)

                	
                  
                    
                      the
      Warranties remaining true and accurate and not misleading at Completion as
      if repeated at Completion and at all times between the date of this
      Agreement and
Completion.

                    

                  

                

        

         

      

      
        
          	
                   
      

                	
                  (D)

                	
                  
                    
                      the
      passing of a board resolution of the board of the Purchaser approving the
      entering into of this Agreement and the transaction contemplated herein;
      and;

                    

                  

                

        

        

        
          	
                   
      

                	
                  (E)

                	
                  
                    
                      the
      filing of a definitive version of a 14C with the United States Securities
      Exchange Commission regarding the transaction contemplated hereunder and
      having such been mailed to shareholders of the
      Vendor.

                    

                  

                

        

         

         

      

    

    
      	
              4.  

            	
              CONSIDERATION

            

    

     

    
    

    
      	
              4.1

            	
              The
      total consideration payable to the Vendor for the sale and purchase of the
      Sale Shares shall be US$1.

            

    

    

    
      	
              4.2

            	
              The
      Consideration shall be payable by the Purchaser to the Vendor (or as it
      may direct) on Completion.

            

    

    

    
      	
              4.3

            	
              Payment
      of the Consideration or any part thereof shall be effected by the
      Purchaser paying cash to the Vendor (or as it may direct) for the
      Consideration or any part thereof.

            

    

     

     

    
      	
              5.  

            	
              COMPLETION

            

    

     

    
    

    
      	
              5.1

            	
              Subject
      to continuing fulfilments (or waiver) of the Conditions specified in
      clause 3, Completion shall take place at the offices of the Purchaser at
      4:00 p.m. (Hong Kong time) on the fifth business day after the fulfilment
      or waiver of the last of the Conditions specified in clause 3 or at such
      other place or time as the parties shall
agree.

            

    

    

    
      	
              5.2

            	
              At
      Completion:

            

    

    

    
      	
               
      

            	
              5.2.1

            	
              The
      Vendor shall deliver or cause to be delivered to the
      Purchaser:

            

    

     

    
      
        
          	
                   
      

                	
                  (A) 

                	
                  
                    
                      duly
      executed transfer documents in respect of the Sale Shares transferring the
      Sale Shares to the Purchaser or its nominee together with the relevant
      share certificates;

                    

                  

                

        

        

        
          	
                   
      

                	
                  (B)

                	
                  
                    
                      resolution
      of the board of directors of the Company approving the registration of the
      Purchaser or its nominee(s) as members of the
      Company;

                    

                  

                

        

         

        
          	 	(C) 	
                  
                    copy
      of board resolutions of the Vendor authorising and approving its execution
      of this Agreement;

                  

                

        

         

        
          
            
              	
                       
      

                    	
                      (D)

                    	
                      
                        
                          all
      reasonably relevant approvals, consents, licences and/or permits required
      in relation to the transaction contemplated
      hereunder,  and

                        

                      

                    

            

            

            
              	
                       
      

                    	
                      (E)

                    	
                      
                        
                          written
      evidence of the shareholders of the Vendor having approved, ratified
      and/or confirmed this Agreement and the transactions contemplated
      herein.

                        

                      

                    

            

             

            
            

          

        

      

    

    
      	
               
      

            	
              5.2.2

            	
              The
      Purchaser shall pay the Consideration to the Vendor or as it may
      direct.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    
      	
              6.

            	
              WARRANTIES
      

            

    

     

    
    

    
      	
              6.1

            	
              The
      Vendor represents and warrants to the Purchaser that each of the
      Warranties is as at the date hereof true and correct and not misleading in
      any material respects and each of those warranties shall be construed as a
      separate warranty.

            

    

    

    
      	
              6.2

            	
              The
      Warranties shall be deemed to be repeated at Completion and any express or
      implied reference therein to the date of this Agreement shall be replaced
      by a reference to the date of
Completion.

            

    

    

    
      	
              6.3

            	
              The
      Purchaser’s rights in respect of each of the Warranties shall survive
      Completion and continue in full force and effect notwithstanding
      Completion.

            

    

    

    
      	
              6.4

            	
              The
      Warranties shall be separate and independent and, save as expressly
      provided, shall not be limited by reference to any other Clause or
      anything in this Agreement.

            

    

    

    
      	
              6.5

            	
              The
      Vendor shall immediately disclose to the Purchaser any matter or thing
      which becomes known to it after the date of this Agreement which would
      render any of them untrue.

            

    

    

    
      	
              6.6

            	
              The
      Purchaser shall be entitled to claim after Completion that any of the
      Warranties is or was untrue or misleading or has or had been breached and
      Completion shall not in any way constitute a waiver of any of the
      Purchaser’s rights.

            

    

     

    
    

    
      	
              6.7

            	
              The
      Vendor undertakes to indemnify and keep indemnified the Purchaser from and
      against all reasonable claims, liabilities, losses, costs and expenses
      which the Purchaser may suffer or incur or which may be made against the
      Purchaser either before or after the commencement of and arising out of,
      or in respect of, any action in connection
  with:-

            

    

     

    
      
        
          
            	
                     
      

                  	
                    (A)

                  	
                    
                      
                        
                          the
      settlement of any claim that any of the Warranties is untrue or misleading
      or has been
breached;

                        

                      

                    

                  

          

          

          
            	
                     
      

                  	
                    (B)

                  	
                    
                      
                        
                          any
      legal proceedings taken by the Purchaser claiming that any of the
      Warranties is untrue or misleading or has been breached and in which
      judgement is given for the Purchaser;
  and

                        

                      

                    

                  

          

           

        

        
          
            	
                     
      

                  	
                    (C)

                  	
                    
                      
                        
                          the
      enforcement of any such settlement or
      judgement.

                        

                      

                    

                  

          

          

          
          

        

      

    

    
      	
              6.8

            	
              The
      Vendor shall not be liable in respect of a Relevant
  Claim:

            

    

    

    
      	
               
      

            	
              (A)

            	
              if
      it would not have arisen but for anything voluntarily done or omitted to
      be done after Completion by the Purchaser or the Group or its employees,
      agents or successors in title;

            

    

    

    
      	
               
      

            	
              (B)

            	
              to
      the extent that it arises or is increased as a result only
    of:

            

    

     

    
      
        	
                 
      

              	
                (i)

              	
                
                  an
      increase in the rates, method of calculation or scope of taxation after
      the date of this Agreement;
or

                

              

      

      

      
        	
                 
      

              	
                (ii)

              	
                
                  any
      change in generally accepted accounting practice after the date of this
      Agreement; or

                

              

      

       

      
        	 	(iii) 	
                the
      passing of any legislation, or making of any subordinate legislation after
      the date of this Agreement.

              

      

       

    

    
      	
              6.9

            	
              The
      Purchaser shall:

            

    

     

    
      
        	
                 
      

              	
                (A)

              	
                
                  immediately
      notify the Vendor in writing of any Relevant Claim and of any claim or
      matter which gives or may give rise to a Relevant
    Claim;

                

              

      

      

      
        	
                 
      

              	
                (B)

              	
                
                  at
      all times disclose in writing to the Vendor all information and documents
      relating to any claim or matter which gives or may give rise to a Relevant
      Claim;

                

              

      

       

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      
        	
                 
      

              	
                (C)

              	
                
                  
                    
                      take
      such action as the Vendor may reasonably require to avoid, resist, contest
      or compromise any claim or matter which gives or may give rise to a
      Relevant Claim;
and

                    

                  

                

              

      

       

      
        
          	
                   
      

                	
                  (D)

                	
                  
                    
                      the
      passing of a board resolution of the board of the Purchaser approving the
      entering into of this Agreement and the transaction contemplated herein;
      and;

                    

                  

                

        

      

    

     

     

    
      	
              7.

            	
              PURCHASER’S
      WARRANTIES 

            

    

     

    
      
        	
                 

              	
                The
      Purchaser represents and warrants to the Vendor
  that:

              

      

       

    

    
      
        	
                 
      

              	
                (A)

              	
                
                  the
      Purchaser has full power and authority to enter into and perform this
      Agreement and the provisions of this Agreement, when executed, shall
      constitute valid and binding obligations on the Purchaser, in accordance
      with its terms;

                

              

      

      

      
        	
                 
      

              	
                (B)

              	
                
                  the
      execution and delivery of, and the performance by the Purchaser of its
      obligations under, this Agreement shall
  neither:

                

              

      

       

    

    
      	
               
      

            	
              (i)

            	
              result
      in a breach of any provision of its Memorandum or Articles of Association
      or equivalent constituted document;
nor

            

    

    

    
      	
               
      

            	
              (ii)

            	
              result
      in a breach of any order, judgment or decree of any court or governmental
      agency to which the Purchaser is a party or by which the Purchaser is
      bound;

            

    

     

    
      
        
          	
                   
      

                	
                  (C)

                	
                  
                    
                      
                        
                          save
      as provided in this Agreement, all consents, permissions, approvals and
      agreements of third parties which are necessary or desirable for the
      Purchaser to obtain in order to enter into and perform this Agreement in
      accordance with its terms have been unconditionally obtained in writing
      and have been disclosed in writing to the
      Vendor.

                        

                      

                    

                  

                

        

         

         

      

    

    
      	
              8.

            	
              ANNOUNCEMENTS

            

    

     

    
    

    
      	
              8.1

            	
              Save
      as provided in this Agreement, neither party shall release any
      announcement, or  despatch any circular, relating to this
      Agreement unless as required by law or the rules of any regulatory body of
      which it is a member.

            

    

    

    
      	
              8.2

            	
              The
      Parties hereby undertake that they shall each use all reasonable
      endeavours to supply such information as may be reasonably necessary to be
      included in the documents to be despatched or the announcements to be
      issued take respective responsibility for such information and authorise
      the publication, despatch and/or release of such documents and
      announcements.

            

    

     

     

    
      	
              9.

            	
              MISCELLANEOUS

            

    

     

    
    

    
      	
              9.1

            	
              None
      of the Parties may assign its rights under this Agreement and this
      Agreement shall be binding on and enure for the benefit of the Parties’
      successors, assigns and personal
  representatives.

            

    

    

    
      	
              9.2

            	
              Time
      shall be of the essence of this
Agreement.

            

    

    

    
      	
              9.3

            	
              This
      Agreement represents the entire understanding, and constitutes the whole
      agreement, in relation to its subject matter and supersedes any previous
      agreement between the Parties with respect thereto and, without prejudice
      to the generality of the foregoing, excludes any warranty, condition or
      other undertaking implied at law or by
custom.

            

    

    

    
      	
              9.4

            	
              Each
      Party confirms that, except as provided in this Agreement, no party has
      relied on any representation or warranty or undertaking which is not
      contained in this Agreement and, without prejudice to any liability for
      fraudulent misrepresentation, no Party shall be under any liability or
      shall have any remedy in respect of misrepresentation or untrue statement
      unless and to the extent that a claim lies under this
      Agreement.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              9.5

            	
              So
      far as it remains to be performed this Agreement shall continue in full
      force and effect notwithstanding
Completion.

            

    

    

    
      	
              9.6

            	
              In
      the event that any provision of this Agreement shall be void or
      unenforceable by reason of any provision of applicable law, it shall be
      deleted and the remaining provisions hereof shall continue in full force
      and effect and if necessary, be so amended as shall be necessary to give
      effect to the spirit of this Agreement so far as
  possible.

            

    

    

    
      	
              9.7

            	
              Each
      of the Parties shall after Completion execute all such deeds and documents
      and do all things as the other Parties may reasonably require for
      perfecting the transactions intended to be effected under or pursuant to
      this Agreement.

            

    

    

    
      	
              9.8

            	
              This
      Agreement may be executed in any number of counterparts, which when taken
      together shall constitute one and the same instrument and is binding on
      each and every party.

            

    

     

     

    
      
        	
                10.

              	
                COSTS

              

      

       

      
        
          	
                   

                	
                  The
      Parties shall pay their own costs in connection with the preparation and
      negotiation of this Agreement and any matter contemplated by
      it.

                

        

      

    

     

     

    
    

    
      	
              11.

            	
              NOTICES

            

    

     

    
    

    
      	
              11.1

            	
              A
      notice, approval, consent or other communication in connection with this
      Agreement:

            

    

    

    
      	
               
      

            	
              (A)

            	
              must
      be in writing; and

            

    

     

    
    

    
      	
               
      

            	
              (B)

            	
              must
      be left at the address of the addressee, or sent by prepaid ordinary post
      (airmail if posted to or from a place outside Hong Kong) to the address of
      the addressee or sent by facsimile to the facsimile number of the
      addressee which is specified in this Clause or if the addressee notifies
      another address or facsimile number in Hong Kong then to that address or
      facsimile number.

            

    

    

    
      	
              11.2

            	
              The
      address and facsimile number of each Party
is:

            

    

     

    
      
        	
                 
      

              	
                The
    Vendor

              

      

    

    
      

      
        	
                 
      

              	
                Address:

              	
                Unit
      3409, Shun Tak Centre, West Tower

              

      

      
        	
                 
      

              	
                Facsimile:

              	
                
                  168-200
      Connaught Road Central

                

              

      

      
        	
                 
      

              	
                Attention:

              	
                
                  Hong
      Kong

                

              
	 	 	 
	 	Facsimile	21919890
	 	Attention	Mr.
      Tang Chien Chang

      

      
         

        
          
            	
                     
      

                  	
                    The
      Purchaser

                  

          

        

        
           

        

      

    

    
      	
               
      

            	
              Address:

            	
              c/o
      57th Floor, The Center, 99 Queen's Road Central, Hong
  Kong

            

    

    
      	
               
      

            	
              Facsimile:

            	
              28685820

            

    

    
      	
               
      

            	
              Attention:

            	
              Mr.
      Warren Ko  (ref: 841133)

            

    

    

    
      	
              11.3

            	
              A
      notice, approval, consent or other communication shall take effect from
      the time it is received (or, if earlier, the time it is deemed to be
      received in accordance with sub-clause 11.4) unless a later time is
      specified in it.

            

    

    

    
      	
              11.4

            	
              A
      letter or facsimile is deemed to be
received:

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (A)

            	
              in
      the case of a posted letter, unless actually received earlier, on the
      third (seventh, if posted to or from a place outside Hong Kong) day after
      posting; and

            

    

    

    
      	
               
      

            	
              (B)

            	
              in
      the case of facsimile, on production of a transmission report from the
      machine from which the facsimile was sent which indicates that the
      facsimile was sent in its entirety to the facsimile number of the
      recipient.

            

    

     

     

    
      	
              12.

            	
              GOVERNING
      LAW, SERVICE OF PROCESS AND
JURISDICTION

            

    

     

    
    

    
      	
              12.1

            	
              This
      Agreement is governed by, and shall be construed in accordance with, Hong
      Kong law.

            

    

    

    
      	
              12.2

            	
              The
      Purchaser hereby irrevocably appoints Robertsons of 57th Floor, The
      Center, 99 Queen's Road Central, Hong Kong as its agent to accept service
      of legal process on its behalf.  The Purchaser irrevocably
      agrees that if its process agent ceases to have an address in Hong Kong or
      ceases to act as its process agent, it shall appoint a new process agent
      acceptable to the other Parties and shall deliver to each of the other
      Parties within 14 days a copy of written acceptance of appointment by the
      new process agent.

            

    

     

    
    

    
      	
              12.3

            	
              The
      Vendor hereby irrevocably appoints Robertsons of 57th Floor, The Center,
      99 Queen's Road Central, Hong Kong as its agent to accept service of legal
      process on its behalf.  The Vendor irrevocably agrees that if
      its process agent ceases to have an address in Hong Kong or ceases to act
      as its process agent, it shall appoint a new process agent acceptable to
      the other Parties and shall deliver to each of the other Parties within 14
      days a copy of written acceptance of appointment by the new process
      agent.

            

    

    

    
      	
              12.4

            	
              Subject
      to clause 12.2 and 12.3, each Party agrees that without preventing any
      other mode of service, any document in an action (including, but not
      limited to, any writ of summons or other originating process or any third
      or other party notice) may be served on any Party by being delivered to or
      left for that Party at its address for service of notices under Clause 11
      and each Party undertakes to maintain such an address at all times and to
      notify the other Party in advance of any change from time to time of the
      details of such address in accordance with the manner prescribed for
      service of notices under clause 11.

            

    

    

    
      	
              12.5

            	
              The
      parties hereto hereby irrevocably submit to the non-exclusive jurisdiction
      of the Hong Kong courts.  Each of the parties hereto also
      irrevocably agrees to waive any objection which it may at any time have to
      the laying of the venue of any proceedings in the Hong Kong Courts and any
      claim that any such proceedings have been brought in an inconvenient
      forum.

            

    

     

     

    IN
WITNESS of which the Parties have executed this Agreement on the date first
mentioned above.

     

    
      
        	 	 	 	 	 
	
                SIGNED
      by  

              	
                )

              	 	
                /s/
      Tang Chien Chang

              	 
	
                for
      and on behalf of 

              	
                )

              	 	
                 

              	 
	
                CHINA
      ENTERTAINMENT GROUP, INC. 

              	
                )

              	 	
                 

              	 
	in
      the presence of:	
                )

              	 	 	 

      

       

      
        
          	 	 	 	 	 
	
                  SIGNED
      by  

                	
                  )

                	 	
                  /s/
      Chen Ming Yin, Tiffany

                	 
	
                  for
      and on behalf of 

                	
                  )

                	 	
                   

                	 
	
                  IMPERIAL
      INTERNATIONAL LIMITED

                	
                  )

                	 	
                   

                	 
	in
      the presence of:	
                  )

                	 	 	 

        

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

    

     

    SCHEDULE 1

    

    DETAILS
OF THE COMPANY

    

    
      	
              Name

            	:	
              Metrolink
      Pacific Limited

            
	 
      	 	 
      
	
              Country
      of incorporation

            	:	
              British
      Virgin Islands

            
	 
      	 	 
      
	
              Company
      No.

            	:	613977
	 
      	 	 
      
	
              Authorised
      Share Capital

            	:	
              US$50,000
      divided into 50,000 ordinary shares of US$1 each

            
	 
      	 	 
      
	
              Issued
      Share Capital

            	:	
              120
      ordinary shares

            
	 
      	 	 
      
	
              Registered
      Office

            	:	
              OMC
      Chambers, P.O. Box 3152, Road Town, Tortola, British Virgin
      Islands

            
	 
      	 	 
      
	
              Directors

            	:	Ms
      Chen Ming Yin, Tiffany
	 
      	 	Mr.
      Tang Chien Chang
	 
      	 	Mr.
      Kim Min Sup, Mark
	 
      	 	 
      
	
              Shareholders:

            	:	China
      Entertainment Group, Inc. - 120 ordinary
  shares

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    SCHEDULE 2

    

    REPRESENTATIONS AND
WARRANTIES

    

    Subject
to the matters referred to herein and save as disclosed to the Purchaser in
writing, the Vendor hereby represents, warrants and undertakes to the Purchaser
that all statements of fact set out in this Schedule or otherwise contained in
this Agreement are true and accurate in all material respects as at the date
hereof and at Completion.

    

    Unless
the context requires otherwise, the representations, warranties and undertakings
contained in this Schedule 2 in relation to the Company shall be deemed to be
repeated mutatis mutandis in relation to each of the member of the
Group.

     

    
      	
              1.

            	
              GENERAL
      INFORMATION AND POWERS OF THE
VENDOR

            

    

    

    
      	
              1.1

            	
              the
      Vendor has full power to enter into this Agreement and to exercise its
      rights and perform its obligations hereunder and (where relevant) all
      corporate and other actions required to authorise its execution of this
      Agreement and its performance of its obligations hereunder have been duly
      taken and this Agreement will, when executed by the Vendor, be a legal,
      valid and binding agreement on it and enforceable in accordance with the
      terms hereof;

            

    

    

    
      	
              1.2

            	
              the
      execution, delivery and performance of this Agreement by the Vendor does
      not and will not violate in any respect any provision of (i) any law or
      regulation or any order or decree of any governmental authority, agency or
      court of the United States of America or elsewhere or any part thereof
      prevailing as at the date of this Agreement and as at Completion; (ii) the
      laws and documents incorporating and constituting the Company prevailing
      as at the date of this Agreement and as at Completion; or (iii) any
      mortgage, contract or other undertaking or instrument to which the Vendor
      is a party or which is binding upon it/him/her or any of its/his/her
      assets, and does not and will not result in the creation or imposition of
      any encumbrance on any of its/his/her assets pursuant to the provisions of
      any such mortgage, contract or other undertaking or
      instrument;

            

    

    

    
      	
              1.3

            	
              no
      consent (save as disclosed herein) of a person or body or filing or
      registration with or other requirement of any governmental department
      authority or agency in the United States of America or any part thereof is
      required by the Vendor in relation to the valid execution, delivery or
      performance of this Agreement (or to ensure the validity or enforceability
      thereof) and the sale by the Vendor of the Sale
  Shares;

            

    

    

    
      	
              2.

            	
              COMPLIANCE
      WITH LEGAL REQUIREMENTS

            

    

    

    
      	
              2.1

            	
              the
      Company has duly and properly complied with all filing and registration
      requirements in respect of corporate or other documents imposed under the
      relevant laws of the jurisdiction in which it was
      incorporated;

            

    

    

    
      	
              2.2

            	
              the
      statutory books and minute books of the Company have been properly written
      up and compliance has been made with all legal requirements concerning the
      Company and all issues of shares, debentures or other securities
      thereof;

            

    

    

    
      	
              2.3

            	
              the
      register of members/shareholders of the Company is correct and the Company
      has not received any application or request for rectification of its
      register of members/shareholders and, so far as the Vendor is aware, no
      circumstances which might lead to any such application or request for
      rectification of such register to be made have arisen or
      occurred;

            

    

    

    
      	
              3.

            	
              CORPORATE
      MATTERS

            

    

    

    
      	
              3.1

            	
              the
      Company has been duly established and is validly existing and no order has
      been made or petition presented or resolution passed for the winding up of
      the Company and no distress, execution or other process has been levied on
      any of its assets.  The Company is not insolvent nor unable to
      pay its debts, no receiver or receiver and manager has been appointed by
      any person of its business or assets or any part thereof, no power to make
      any such appointment has arisen, the Company has taken no steps to enter
      liquidation and there are no grounds on which a petition or application
      could be based for the winding up or appointment of a receiver of the
      Company;

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              3.2

            	
              the
      Vendor is the beneficial owner of the Sale Shares free and clear of any
      lien, charge, option, right of pre-emption or other encumbrance or third
      party right whatsoever and the Company has not exercised any lien over any
      of its issued shares and there is no outstanding call on any of the Sale
      Shares and all of the Sale Shares are fully
  paid;

            

    

    

    
      	
              3.3

            	
              the
      Sale Shares constitute 100% of all the entire registered capital of the
      Company;

            

    

    

    
      	
              3.4

            	
              save
      as disclosed herein, the Company has no and never has had any subsidiary
      or shares in or stock of any
company;

            

    

    

    
      	
              3.5

            	
              the
      Company has never reduced, repaid, redeemed or purchased any of its share
      capital;

            

    

    

    
      	
              3.6

            	
              there
      are no options or other agreements outstanding which call for the issue of
      or accord to any person the right to call for the issue of any shares in
      the capital of the Company or the right to require the creation of any
      mortgage, charge, pledge, lien or other security or encumbrance over the
      Sale Shares;

            

    

    

    
      	
              3.7

            	
              the
      copies of the Memorandum and Articles of Association of the Company are
      accurate and complete in all respects and have attached to them copies of
      all resolutions and agreements which are required to be so
      attached.  The Company has complied with its Memorandum and
      Articles of Association in all respects, has full power, authority and
      legal right to own its assets and carry on its business and none of the
      activities, agreements, commitments or rights of the Company is ultra
      vires or unauthorised;

            

    

    

    
      	
              3.8

            	
              the
      Register of Members and all other statutory books of the Company are up to
      date and contain true full and accurate records of all matters required to
      be dealt with therein and the Company has not received any notice of any
      application or intended application for rectification of the Company’s
      register and all annual or other returns required to be filed with the
      relevant companies registry have been properly filed within any applicable
      time limit and all legal requirements relating to the issue of shares and
      other securities by the Company have been complied
  with.ex10_70.htm

    
      

    

    Exhibit
10.65

     

    SECOND
AMENDMENT TO CREDIT AGREEMENT

    AND REAFFIRMATION OF LOAN
DOCUMENTS

    

    THIS
SECOND AMENDMENT TO CREDIT AGREEMENT AND REAFFIRMATION OF LOAN DOCUMENTS (this
“Second
Amendment”) is made and entered into as of August 31, 2007, by and
among DOUGLAS EMMETT 2006,
LLC, a Delaware limited liability company (“Borrower”);
BANK OF AMERICA, N.A., a
national banking association, as a Lender (in such capacity, “BofA”),
Swing Line Lender and L/C Issuer; BMO CAPITAL MARKETS FINANCING,
INC., as a Lender; BAYERISCHE LANDESBANK, as a
Lender; ING REAL ESTATE FINANCE
(USA) LLC, as a Lender; and BANK OF AMERICA, N.A., a national banking
association, as administrative agent for the Lenders (in such capacity, together
with its successors in such capacity, the “Administrative
Agent”).  Each of the parties identified above as a Lender,
together with any other party who is currently a lender under the Credit
Agreement or becomes a lender party to the Credit Agreement after the date
hereof pursuant to Section 10.06 of the
Credit Agreement, are sometimes referred to herein individually as a “Lender”
and collectively as the “Lenders”.

    

    RECITALS

     

    A.           Borrower,
the Administrative Agent, certain Lenders, Bank of America, N.A., a national
banking association, as L/C Issuer (the “L/C
Issuer”), Bank of America, N.A., a national banking association, as Swing
Line Lender (the “Swing
Line Lender”) and certain other parties acting as Co-Syndication Agents
thereunder, entered into that certain Credit Agreement, dated as of October 30,
2006 (the “Original
Credit Agreement”), as amended by that certain First Amendment to Credit
Agreement, dated as of March 1, 2007 (the “First
Amendment”, and together with the Original Credit Agreement,
collectively, the “Credit
Agreement”).  By certain Assignments and Acceptances, ING Real
Estate Finance (USA) LLC, and Landesbank Baden-Wüerttemberg acquired their
respective interests in the Credit Agreement.  All capitalized terms
used in this Second Amendment (including in the recitals hereof) and not
otherwise defined herein shall have the meanings assigned to them in the Credit
Agreement, as modified hereby.

    

    B.           Pursuant
to the Credit Agreement, the Lenders committed to make loans and other
extensions of credit to Borrower up to the aggregate principal amount of
$250,000,000 (collectively, the “Original
Commitment”).

    

    C.           Borrower
has requested an increase in the Original Commitments in the amount of
$120,000,000, and, as of the date hereof, certain Lenders have agreed to
increase their Commitments which will increase Aggregate Commitments by
$100,000,000 (the “Increased
Commitments”) up to $350,000,000 (the “Increased
Commitment Amount”).  Borrower and the Lenders anticipate that
additional Commitments in the amount of $20,000,000 (the “Anticipated
Future Commitments”) will be approved by one or more Lenders, which would
increase the total amount of the Aggregate Commitments up to $370,000,000 (the
“Anticipated
Future Aggregate Commitment Amount”).  It is agreed that as of
the date hereof, the Lenders shall make available the Increased Commitments and
that the Anticipated Future Commitments, if approved, shall be permitted as set
forth herein.

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    D.           In
connection with the Lenders making available the Increased Commitments and the
Increased Commitment Amount, and in connection with the Anticipated Future
Commitments, the Lenders party hereto, the Swing Line Lender, the L/C Issuer,
the Administrative Agent and Borrower desire to modify the Credit Agreement and
the Loan Documents, as set forth below.

    

    AGREEMENT

    

    NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants,
conditions and agreements herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Borrower, the Administrative Agent, the Swing Line Lender, the L/C
Issuer  and the Lenders agree as follows:

    

    1.           
 Conditions
to Modification Effectiveness.  The effectiveness of the
modifications to the Credit Agreement and the other Loan Documents provided for
herein shall be subject to the satisfaction of the conditions set forth herein,
in each case to the satisfaction of the Administrative Agent.  The
date on which conditions are satisfied is referred to herein as the “Effective
Date”.  These conditions are as follows:

    

    (a)           Modification
Documents.  Borrower and the other Loan Parties identified
below shall have executed and delivered to the Administrative Agent the
following amendments to or supplements of the Loan Documents:

    

    (i)           
Agreement
Supplementing Deeds of Trust.  An Agreement Supplementing and
Modifying Deeds of Trust, Assignments of Rents and Leases, Security Agreements
and Fixture Filings, substantially in the form of Attachment A attached
hereto, executed by each Credit Facility Guarantor and in form for recording
(the “Agreement
Supplementing Deeds of Trust”);

    

    (ii)           Guarantor
Documents.  (A) The Reaffirmation of OP Guaranty, substantially
in the form of Attachment B
attached hereto, executed by OP Guarantor, and (B) the Reaffirmation of Credit
Facility Guaranty, substantially in the form of Attachment C
attached hereto, executed by each Credit Facility Guarantor (collectively, the
“Reaffirmation
of Guarantor Documents”);

    

    (iii)           Contribution
Agreement.  A Reaffirmation of Contribution Agreement,
substantially in the form of Attachment D attached
hereto, executed by each Credit Facility Guarantor;

    

    (iv)           Reimbursement
Agreement.  A Reaffirmation of Reimbursement Agreement,
substantially in the form of Attachment E attached
hereto, executed by Borrower and the OP Guarantor;

    

    (v)           Property Manager’s
Consent.  A Reaffirmation of Property Manager’s Consent and
Subordination Agreement, substantially in the form of Attachment F attached
hereto, executed by the Property Manager; and

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    (vi)           Solvency
Certificate.  A Solvency Certificate executed by each Credit
Facility Guarantor.

    

    Borrower
and the Administrative Agent acknowledge that they have executed, prior hereto,
a modification fee letter (the “Modification
Fee Letter”).

    

    (b)           Title Insurance; Priority;
Recordation.

    

    (i)          
 Title
Endorsements.  The Title Insurer shall have recorded the
Agreement Supplementing Deeds of Trust, and shall have issued such endorsements
to the Title Policies to the effect that the validity and priority of the Deeds
of Trust insured thereunder have not been and will not be impaired by this
Second Amendment or the transactions contemplated by it, increasing the
liability amount thereunder by the aggregate maximum increase (i.e.,
$350,000,000) in the Commitments provided for herein, and confirming the
priority of each Deed of Trust, as supplemented by the Agreement Supplementing
Deeds of Trust, over all matters other than Permitted Title Exceptions
(including, without limitation, over all mechanics’ and materialmen’s liens) and
such other endorsements to the Title Policies as may be deemed reasonably
necessary by the Administrative Agent, together with reinsurance agreements with
respect thereto in amounts and from insurers acceptable to the Administrative
Agent, in each case in such form as may be reasonably acceptable to the
Administrative Agent; provided, however, that in
connection with the Anticipated Future Commitment, it is acknowledged and agreed
that additional endorsements to the Title Policies may be required to increase
the liability amount under the Title Policies by the Anticipated Future
Commitments; and

    

    (ii)           Costs and Expenses for Title
Coverage.  Borrower shall have paid, or shall have made other
arrangements acceptable to the Title Insurer to pay, to the Title Insurer all
expenses and premiums of the Title Insurer in connection with the issuance of
such endorsements and reinsurance, and all recording and filing fees payable in
connection with recording the Agreement Supplementing Deeds of
Trust.

    

    (c)           Appraisals.  The
Administrative Agent shall have received an updated Appraisal for each Borrowing
Base Property.  Each Appraisal shall run in favor of “Bank of America,
N.A., or its designee, as Administrative Agent on behalf of the lenders in its
lending syndicate from time to time, and the successors and assigns of each of
the foregoing, all of whom may rely thereon.”

    

    (d)           Commitment
Limitations.  After giving effect to
the modifications provided for herein, (i) the Aggregate Commitments shall not
exceed sixty-five percent (65%) of the aggregate Appraised Values of the
Borrowing Base Properties, which Appraised Value shall be based on the “as is”
value established by a new Appraisal for each Borrowing Base Property delivered
pursuant to Section 1(c)
above; and (ii) the Debt Service Coverage Ratio (based on projections delivered
by Borrower and reasonably acceptable to the Administrative Agent of Operating
Expenses and Operating Income of all the Borrowing Base Properties for the four
(4) full calendar quarters following the Effective Date, and projected Debt
Service for such period determined in accordance with the definition of “Debt
Service” in the Credit Agreement using an Interest Rate for such purposes of six
and thirteen one-hundredth percent (6.13%) per annum) shall be equal to or
greater than 1.25:1.00.

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    (e)           Legal
Opinions.  The Administrative Agent shall have received
favorable written opinions, dated as of the date of this Second Amendment, of
counsel to Borrower and the Guarantors with respect to this Second Amendment and
the other documents to be delivered pursuant hereto, in such forms as may be
deemed satisfactory by the Administrative Agent.

    

    (f)           Organizational Documents;
Resolutions and Authorizations.  The Administrative Agent shall
have received the following documents with respect to Borrower and the other
Loan Parties identified below:

    

    (i)           Certificates
of Incorporation, Certificates of Formation, Certificates of Limited
Partnership, similar formation documents and all other Organization Documents
for Borrower and each of the other parties as to whom such documentation was
delivered to the Administrative Agent in connection with the original closing of
the Credit Facility, certified by the Secretary of State of the state of
formation of such Person as of a recent date, or, to the extent such
documentation has not been modified since the original closing of the Credit
Facility, a certificate to such effect from Borrower or the applicable Guarantor
(or their respective general partner or manager);

    

    (ii)           Such
applicable resolutions and authorizations of Borrower, the Guarantors and each
of the other parties as to whom resolutions and authorizations were delivered to
the Administrative Agent in connection with the original closing of the Credit
Facility, as are required to authorize the execution and delivery of this Second
Amendment and the other documents to be delivered pursuant hereto, in each case
certified by a Responsible Officer on behalf of such party as of the Effective
Date as being accurate and complete, all in form and substance reasonably
satisfactory to the Administrative Agent and its counsel, or, to the extent such
documentation has not been modified since the original closing of the Credit
Facility, a certificate to such effect from Borrower;

    

    (iii)           Certificates
signed by a Responsible Officer on behalf of the applicable Person certifying
the name, incumbency and signature of one or more individuals authorized to
execute this Second Amendment and the other documents to be delivered pursuant
hereto, on which the Administrative Agent and the Lenders may rely;
and

    

    (iv)           Good
standing certificates with respect to Borrower, the Guarantors and each of the
other parties as to whom such certificates were delivered to the Administrative
Agent in connection with the original closing of the Credit Facility, dated as
of a current date.

    

    (g)           Representations and
Warranties.  As of the Effective Date, all of the
representations and warranties in the Loan Documents of Borrower, the Guarantors
and the other Borrower Parties shall be true and correct, after giving effect to
the modifications intended to become effective as of the Effective Date (except
to the extent that such representations and warranties specifically refer to an
earlier date, in which case they are true and correct as of such earlier date,
and except that the representations and warranties contained in clauses (a) and (b) of Section 5.05 of the
Original Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a), (b), (c) and (d), of Section 6.01
thereof).

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    (h)     
     No Events of
Default.  As of the Effective Date, after giving effect to the
modifications provided for in this Second Amendment, no Event of Default or
event which, if uncured after the giving of notice, the passage of time, or
both, would become an Event of Default, shall exist.

    

    (i)         
  Fees and
Expenses.  Borrower shall have paid (which may be through a
Borrowing) (a) all fees then due and payable to BofA and the Administrative
Agent pursuant to the Fee Letter and the Modification Fee Letter, (b) any
other fees then due to the Administrative Agent pursuant to the Loan Documents,
and (c) any fees and expenses due to the Administrative Agent of the type
to be reimbursed by Borrower pursuant to Section 10.04(a)(ii)
of the Credit Agreement with respect to the modifications provided for in this
Second Amendment and the other documents to be delivered pursuant hereto
(provided that, with respect to the fees and expenses of legal counsel to the
Administrative Agent, Borrower shall furnish a reasonably detailed invoice from
such counsel and 90% of such fees and expenses shall be paid upon the Effective
Date, with the remaining 10% of such fees and expenses to be paid promptly
following the delivery by such legal counsel of closing binders with respect to
the loan modification pursuant hereto).

    

    2.       
     Credit
Agreement and Loan Documents Modifications.  Upon the Effective
Date, the Credit Agreement and the other Loan Documents shall be modified as
follows:

    

    (a)           The
definition of “Allocated Loan
Amount” set forth in the Credit Agreement is hereby amended and restated
in its entirety as follows:

    

    “’Allocated Loan
Amount’ means:

    

    (a)        Subject
to adjustment as set forth in clause (c) or (d) below, the
Allocated Loan Amount for each Initial Borrowing Base Property as of the Second
Amendment Date shall be the amount set forth for such Borrowing Base Property on
Amended and Restated
Schedule 5.08 attached hereto;

    

    (b)       Subject
to adjustment as set forth in clause (c) or (d) below, the
Allocated Loan Amount for any Additional Borrowing Base Property which is added
pursuant to Section 2.16(a)
shall be the amount determined by the Administrative Agent as of the time the
applicable Nominated Property is to be included as an Additional Borrowing Base
Property, equal to the lesser of (i) sixty-five percent (65%) of the
Appraised Value of such Borrowing Base Property as determined in accordance with
a current Appraisal pursuant to Section 2.16(a)(ii)(A),
and (ii) the amount that, when added to the sum of the Allocated Loan
Amounts for all of the other Borrowing Base Properties, would produce a Debt
Service Coverage Ratio for all of the Borrowing Base Properties (including the
Additional Borrowing Base Property) of 1.25:1.0 (subject, however, to the
Borrower’s right to withdraw the Nominated Property pursuant to Section 2.16(a)(iv)
hereof);

    

    (c)        Subject
to adjustment as set forth in clause (d) below, the
Allocated Loan Amount for each Borrowing Base Property as of any extension of
the Maturity Date pursuant to Section 2.14
hereof shall be the amount determined by the Administrative Agent in connection
with such extension of the Maturity Date equal to the lesser of
(i) sixty-five percent (65%) of the

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    Appraised
Value of such Borrowing Base Property as determined in accordance with the
Appraisal obtained in connection with such extension, and (ii) the amount
described in the foregoing clause (i) for such Borrowing Base Property,
multiplied by a fraction, the numerator of which is the principal amount that
would produce a Debt Service Coverage Ratio for all of the Borrowing Base
Properties of 1.25:1.00, and denominator of which is the sum of the amounts
described in the foregoing clause (i) for all of the Borrowing Base Properties;
and

    

    (d)       The
Allocated Loan Amount of a Borrowing Base Property suffering a Casualty Event or
a Taking shall be reduced by the amount of any Net Proceeds attributable to such
Borrowing Base Property applied by the Administrative Agent in prepayment of the
Outstanding Principal Amount pursuant to Section 2.05(e).”

    

    (b)           The
definition of “Applicable Rate” set
forth in the Credit Agreement is hereby amended and restated in its entirety as
follows:

    

    “Applicable Rate”
means a per annum rate equal to the applicable amount set forth in the grid
below:

    

    
      	
              Total
      Outstandings of the Credit Facility

            	 	
              Eurodollar
      Rate Loans

              (Eurodollar
      Rate +)

              [basis
      points per annum]

            	 	
              Base
      Rate Loans

              (Federal
      Funds Rate +)

              [basis
      points per annum]

            	 	
              Letters
      of Credit

              [basis
      points per annum]

            
	
              Less
      than or equal to $262,500,000 plus 45% of
      the Appraised Value of Additional Borrowing Base
Properties

            	   
      	
              70

            	   
      	
              95

            	   
      	
              70

            
	
              Greater
      than $262,500,000 plus 45% of the Appraised Value of Additional Borrowing
      Base Properties

            	 	
              80

            	 	
              105

            	 	
              80

            

    

    

    (c)           The
definition of “Interest Period” set
forth in the Credit Agreement is hereby modified by (i) adding the following
words after the word “date” in the third line:  “ fourteen (14) days,
or ”, and (ii) by deleting the “.” at the end of subsection (d), replacing it
with “; and” and adding a new subsection (e) thereto as follows: “(e) the
provisions of Section 3.03(b) shall not apply to any Eurodollar Rate Loans
having an Interest Period of fourteen (14) days.”

    

    (d)           The
definition of “Loan
Documents” set forth in the Credit Agreement is hereby modified by adding
the following sentence at the end thereof:  “The First Amendment and
the Second Amendment and each of the notes and modifications to the Loan
Documents delivered pursuant thereto are each ‘Loan Documents.’”  It
is understood and agreed that none of the reaffirmations delivered pursuant to
this Second Amendment with respect to any of the

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    (e)           documents
that (pursuant to Section 10.23 of the Credit Agreement) are not Loan Documents
shall be considered “Loan Documents.”

    

    (f)         
 The definition of “Permitted Title
Exceptions” is modified by adding the following immediately prior to the
end thereof: “or in any modification endorsement thereto issued in connection
with the Second Amendment.”

    

    (g)           The
definition of “Swing
Line Sublimit” set forth in the Credit Agreement is hereby modified by
replacing the words “$50,000,000” with “$75,000,000” in clause (a) of the
definition.

    

    (h)           The
following additional defined terms are hereby added to the Credit
Agreement:

    

    “Second Amendment”
means that certain Second Amendment to Credit Agreement and Reaffirmation of
Loan Documents, dated as of August 31, 2007, entered into among Borrower, the
Administrative Agent and the Lenders signatory thereto.

    

    “Effective Date” has
the meaning assigned to such term in the Second Amendment.

    

    “Second Amendment
Date” means the Effective Date of the Second Amendment.”

    

    “Modification Fee
Letter” means that certain letter agreement, dated August 2, 2007, among
Borrower, the Credit Facility Guarantors, the Administrative Agent and the
Arranger.

    

    (i)        
   The Loan Documents and all exhibits and schedules to the
Credit Agreement are hereby modified to replace any references therein to the
aggregate extension of credit pursuant to the Credit Agreement as “$250,000,000”
with “$350,000,000”; provided, however, that, in the
event that the Anticipated Future Commitments are approved, all exhibits and
schedules to the Credit Agreement shall, at such time, be modified to replace
any references therein to the aggregate extension of credit pursuant to the
Credit Agreement as “$350,000,000” with “$370,000,000”.

    

    (j)     
      The following schedules to the Credit
Agreement are hereby modified as follows:

    
 

    (i)           Schedule 2.01 of the
Credit Agreement (Commitments and Applicable Percentages) and the Commitments
and Applicable Percentages set forth therein are hereby deleted and replaced in
its entirety with the Amended and Restated
Schedule 2.01 (Commitments and Applicable Percentages) attached hereto as
Exhibit A;
provided, however, that, in the
event that the Anticipated Future Commitments are approved, the Amended and
Restated Schedule 2.01 (Commitments and Applicable Percentages) shall be revised
and replaced with a Second Amended and Restated Schedule 2.01 (Commitments and
Applicable Percentages) to be circulated to Borrower, the Administrative Agent
and the Lenders, which shall reflect the total Anticipated Future Aggregate
Commitment Amount and the then applicable Commitments and Applicable
Percentages.  All references in the Loan Documents to the
“Commitments” and all references in the Loan Documents to the “Applicable
Percentages” shall

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    (ii)           hereafter
refer to the Amended
and Restated Schedule 2.01 attached hereto as Exhibit A, and, in
the event that the Anticipated Future Commitments are approved, shall, at such
time, thereafter refer to the Second Amended and Restated Schedule
2.01.

    

    (iii)           Schedule 5.05 of the
Credit Agreement (Indebtedness) is hereby revised with respect to item 12
thereof to reference financial statements delivered prior to the Effective Date
rather than the Closing Date.

    

    (iv)           Schedule 5.08 of the
Credit Agreement (Borrowing Base Properties; Credit Facility Guarantors;
Allocated Loan Amounts; Property Managers) and the Borrowing Base Properties,
Credit Facility Guarantors, Allocated Loan Amounts and Property Managers set
forth therein are hereby deleted and replaced in its entirety with the Amended and Restated
Schedule 5.08 (Borrowing Base Properties; Credit Facility Guarantors;
Allocated Loan Amounts; Property Managers) attached hereto as Exhibit B; provided, however, that, in the
event that the Anticipated Future Commitments are not approved by the Outside
Approval Date (as defined below), Borrower and the Lenders agree that the
Allocated Loan Amounts set forth on the Amended and Restated Schedule 5.08 shall
be reduced for each Borrowing Base Property pro rata by 5.40%, and that the
Amended and Restated Schedule 5.08 shall be revised and replaced with a Second
Amended and Restated Schedule 5.08 (Borrowing Base Properties; Credit Facility
Guarantors; Allocated Loan Amounts; Property Managers) to be circulated to
Borrower, the Administrative Agent and the Lenders, which shall reflect the then
applicable Allocated Loan Amounts revised in accordance with this
proviso.

    

    (v)           Schedule 7.01 of the
Credit Agreement is hereby revised with respect to item 6 thereof to include
liens securing Indebtedness under title encumbrances recorded against Excluded
Properties as of the Effective Date.

    

    (vi)           Schedule 5.25 of the
Credit Agreement (Rent Rolls) is hereby replaced in its entirety with Amended and Restated
Schedule 5.25 attached hereto as Exhibit
C.

    

    (vii)           Notwithstanding
anything to the contrary contained in Section 5.17 of the
Credit Agreement, the correct tax identification numbers for the Loan Parties
are listed on Amended
and Restated Schedule 10.02 attached hereto as Exhibit
D.

    

    (k)           From
and after the Effective Date, all references in the Loan Documents to the “Credit Agreement” or
the “Loan
Documents” or to any Loan Document (whether by reference to a “Loan
Document” or to the specific document name or defined term for a document
included within the meaning of “Loan Document”) shall be deemed to refer to the
Credit Agreement, the Loan Documents or such Loan Document, as amended, modified
and supplemented hereby and, as applicable and subject to Section 2(d) above,
by the documents executed and delivered by the Loan Parties in connection with
this Second Amendment.

    

    (l)    
       It is understood and agreed that the
increase in Commitments provided for herein (together with any Anticipated
Future Commitments when approved) count towards the overall increase of up to
$250,000,000 in the Commitments that may be requested by Borrower pursuant to
Section 2.15 of
the Credit Agreement (so that, after giving effect thereto, Borrower’s
rights

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    (m)           under
Section 2.15
shall apply with respect to additional increases in the amount of up to
$150,000,000 (or $130,000,000, if the Anticipated Future Commitments are
approved)) and as one of the five (5) such increases permissible thereunder (the
“First
Permitted Increase”).  The Lenders acknowledge and agree that
the conditions to effectiveness of this Second Amendment shall be governed by
the terms of this Second Amendment and not by Section 2.15(e) of
the Credit Agreement.  Without limiting the foregoing, the
Administrative Agent and the Lenders agree that the Anticipated Future
Commitments shall permitted so long as such Anticipated Future Commitments are
approved on or prior to October 31, 2007 (the “Outside
Approval Date”) and, if approved by the Outside Approval Date, shall be
considered part of the First Permitted Increase, and further agree that the
minimum increase amount of $50,000,000 set forth in Section 2.15(a) of
the Credit Agreement shall not apply to the Anticipated Future
Commitments.  Any Lender not a signatory hereto which increases its
respective commitment amount in connection with the Anticipated Future
Commitments shall execute and deliver a joinder agreement in the form attached
hereto as Exhibit
F and approved by Borrower and the Administrative Agent.

    

    (n)           In
connection with effectuating any Anticipated Future Commitments, Borrower, the
Administrative Agent and the Lenders hereby acknowledge that a Lender may assign
to one or more Lenders a portion of its respective Commitments in amounts less
than the $5,000,000 minimum amount set forth in Section 10.06(b) of
the Credit Agreement, and Borrower, the Administrative Agent and the Lenders
hereby agree that any such assignments shall be permissible and shall not
require any separate consent thereto, notwithstanding the minimum amount set
forth in Section
10.06(b) of the Credit Agreement.

    

    (o)           For
purposes of determining compliance with the conditions specified in
Section 1, each Lender that has executed this Second Amendment shall be
deemed to have consented to, approved or accepted, or to be satisfied with, each
document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to such Lender, unless, prior to the Effective
Date, the Administrative Agent shall have received notice from such Lender
specifying its objection thereto.

    

    (p)           The
Administrative Agent will notify the Borrower and the Lenders of the occurrence
of the Effective Date.

    

    3.         
   Reaffirmation.

    

    (a)           Borrower
hereby (i) reaffirms, ratifies, confirms, and acknowledges its obligations under
each Note, the Credit Agreement, and all the other Loan Documents, and agrees to
continue to be bound thereby and perform thereunder, and (ii) agrees and
acknowledges that all such Loan Documents and all of Borrower’s obligations
thereunder are and remain in full force and effect and, except as expressly
provided herein, have not been modified.

    

    (b)           Concurrently
herewith, each Guarantor is executing and delivering to the Administrative Agent
the applicable Reaffirmation of Guarantor Document referred to in Section
1(a)(ii) above.  Each reaffirmation is a “Loan Document” and all
references herein, in the Credit Agreement and in the Loan Documents to the
“Guaranty” or
to any specific Loan Document

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    (c)           included
in the definition of Guaranty shall be deemed to include the reaffirmation of
such Guaranty.

    

    (d)           Concurrently
herewith, each Credit Facility Guarantor is executing and delivering to
Administrative Agent the Reaffirmation of Contribution Agreement referred to in
Section 1(a)(iii) above.  Such reaffirmation is a “Loan Document” and
all references herein, in the Credit Agreement and in the Loan Documents to the
“Contribution
Agreement” shall be deemed to include such reaffirmation.

    

    (e)           Concurrently
herewith, Borrower and the OP Guarantor are executing and delivering to
Administrative Agent the Reaffirmation of the Reimbursement Agreement referred
to in Section 1(a)(iv) above.  Such reaffirmation is a “Loan Document”
and all references herein, in the Credit Agreement and in the Loan Documents to
the “Reimbursement
Agreement” shall be deemed to include such reaffirmation.

    

    (f)           Concurrently
herewith, Property Manager is executing and delivering to Administrative Agent
the Reaffirmation of Property Manager’s Consent and Subordination Agreement
referred to in Section 1(a)(v) above.  Such reaffirmation is a “Loan
Document” and all references herein, in the Credit Agreement and in the Loan
Documents to the “Property Manager’s
Consent” shall be deemed to include such reaffirmation.

    

    4.           
 Representations
and Warranties.  Borrower hereby
represents and warrants to the Administrative Agent and the Lenders as
follows:

    

    (a)           Borrower
has full power and authority to enter into this Second Amendment and perform its
obligations hereunder, and Borrower’s execution and delivery of this Second
Amendment has been duly authorized by all necessary limited liability company
action.  Except for recordings or filings contemplated by this Second
Amendment or the other Loan Documents, no approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any
Governmental Authority or any other Person that has not been obtained, taken or
performed is necessary or required in connection with the execution, delivery or
performance by Borrower of this Second Amendment or any document or instrument
to be delivered by Borrower pursuant hereto.  This Second Amendment
and the documents and instruments delivered by Borrower pursuant hereto have
been duly executed and delivered, and constitute the legal, valid and binding
obligation of Borrower, enforceable against Borrower in accordance with their
respective terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting
the enforcement of creditors’ rights generally, or by equitable principles
relating to enforceability (whether such enforceability is considered in a
proceeding in equity or at law).

    

    (b)           As
of the date hereof and immediately after giving effect to this Second Amendment
and the modifications to the Loan Documents contemplated hereby, no Event of
Default or event which, if uncured after the giving of notice, the passage of
time, or both, would become an Event of Default, exists.

    

    (c)           As
of the date hereof, each Credit Facility Guarantor identified in Amended and Restated
Schedule 5.08 has good and marketable title in fee simple to, or
valid leasehold

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    (d)           interests
in (as disclosed in such Schedule), the corresponding Borrowing Base Property
listed in such Schedule, subject to no Liens, other than Permitted Title
Exceptions and rights of equipment lessors under equipment leases that comply
with the requirements of Section 7.03(e)
of the Credit Agreement.  As of the date hereof, the property of
Borrower is subject to no Liens, other than Liens in favor of the Administrative
Agent.  There are no outstanding options to purchase or rights of
first refusal to purchase affecting the Borrowing Base Properties, other than
those in favor of the Borrower or a Credit Facility Guarantor.

    

    (e)           As
of the date hereof and immediately after giving effect to this Second Amendment
and the modifications to the Loan Documents contemplated hereby, Borrower
reaffirms all of its obligations under the Loan Documents (as so modified), and
Borrower acknowledges that it has no claims, offsets or defenses with respect to
the payment of sums due under any Note or any other Loan
Document.  Without limiting the foregoing, as of the date hereof,
Borrower hereby confirms (i) that, as of the date hereof, Committed Loans in the
aggregate amount of $20,000,000 are outstanding; (ii) that, as of the date
hereof, Swing Line Loans in the aggregate amount of $23,500,000 are outstanding;
(iii) that the L/C Issuer has not issued any Letters of Credit which remain
outstanding; and (iv) that interest currently due on the Loans has been paid
through (but not including) August 31, 2007.  The Notes heretofore
issued pursuant to the Credit Agreement shall continue to evidence the
obligations arising under the Credit Agreement as modified hereby.

    

    (f)           As
of the date hereof and immediately after giving effect to this Second Amendment
and the modifications to the Loan Documents contemplated thereby, except as set
forth on Exhibit E hereto (and except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are
true and correct as of such earlier date, and except that the representations
and warranties contained in clauses (a) and (b) of Section 5.05 of the
Original Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a), (b), (c) and (d), of Section 6.01 thereof
) (and subject to the qualifications set forth in Section 2.15(e) of
the Credit Agreement), all representations and warranties made and given by
Borrower and Guarantors in the Loan Documents are true, accurate and
correct.

    

    5.      
      Miscellaneous.

    

    (a)           Controlling
Provisions.  In the event of any inconsistencies between the
provisions of this Second Amendment and the provisions of any other Loan
Document, the provisions of this Second Amendment shall govern and
prevail.  Except as expressly modified by this Second Amendment, the
Loan Documents shall not be modified and shall remain in full force and
effect.

    

    (b)           Further
Assurances.  At the Administrative Agent’s request, Borrower
shall promptly execute any other document or instrument and/or seek any consent
or agreement from any third party that the Administrative Agent reasonably
determines is necessary to evidence or further, or is otherwise relevant to, the
intent of the parties, as set forth in this Second Amendment, provided, the same
shall not result in a decrease of the rights of Borrower or result in an
increase in Borrower’s obligations under the Loan Documents.  At the
Administrative Agent’s request, Borrower shall promptly cause any other Loan
Party or any of the holders of

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    (c)           any
equity interest in any other Loan Party, as applicable, to execute any other
document or instrument and/or diligently seek any consent or agreement from any
third party that the Administrative Agent reasonably determines is necessary to
evidence or further, or is otherwise relevant to, the intent of the parties, as
set forth in this Second Amendment, provided the same shall not result in a
decrease of the rights of such Loan Party or result in an increase in such Loan
Party’s obligations under the Loan Documents.

    

    (d)           Counterparts.  This
Second Amendment may be executed by one or more of the parties to this Second
Amendment in any number of separate counterparts, each of which, when so
executed, shall be deemed an original, and all of said counterparts taken
together shall be deemed to constitute but one and the same
instrument.

    

    (e)           Entire
Agreement.  This Second Amendment, together with the other Loan
Documents, set forth the entire agreement and understanding among Borrower, the
Administrative Agent and the Lenders, and supersedes all prior or
contemporaneous agreements and understandings of such Persons, verbal or
written, relating to the subject matter hereof and thereof.  This
Second Amendment shall not prejudice any rights or remedies of the
Administrative Agent or the Lenders under the Loan Documents.  The
Administrative Agent and each Lender reserve, without limitation, all rights
which each has against any indemnitor, guarantor, or endorser of the
Notes.  Nothing in this Second Amendment shall impair the lien of any
Deed of Trust, which as hereby amended shall remain a deed of trust with a power
of sale, creating a first lien encumbering the applicable Borrowing Base
Property (subject to the Permitted Title Exceptions applicable to such Borrowing
Base Property).

    

    (f)           GOVERNING LAW. THIS
SECOND AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF CALIFORNIA.

    

    (g)           Limitation of
Liability.  The provisions of Section 10.20 of the Original Credit
Agreement shall apply to the terms of the Credit Agreement as amended by this
Second Amendment and are hereby incorporated herein by this
reference.

    

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APPEAR ON NEXT PAGE]

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    IN
WITNESS WHEREOF, Borrower, the Administrative Agent, the Swing Line Lender, the
L/C Issuer and the Lenders party hereto have caused this Second Amendment to be
executed by their duly authorized representatives as of the day, month and year
first above written.

    
 

    
      	 
      	BORROWER:
	 
      	 
      	 
      
	 
      	DOUGLAS EMMETT 2006, LLC,
	 
      	a
      Delaware limited liability company
	 
      	 
      	 
      
	 
      	
              By:  
      

            	
              Douglas
      Emmett Management, Inc., a Delaware corporation, its
    Manager

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	      
              By:

            	
               

            
	 	 	      
              Name: 
      

            	William
      Kamer
	 	 	      
              Title:

            	Chief
      Financial Officer

    

    
 

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      	 	LENDERS:	 
	 	 
      	 
	 	BANK OF AMERICA,
      N.A., as a
      Lender, L/C Issuer	 
	 	and
      Swing Line Lender	 
	 	 	 
	 	 
      	 
	 	      
              By:

            	
               
    

            	 
	 	      
              Name:

            	
               
    

            	 
	 	      
              Title:
      

            	
              

                 
      

              

            	 

    

    

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continue on the next page.]

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    
      
        	 	      
                BMO CAPITAL MARKETS FINANCING,
      INC.,

              	 
	 	      
                as
      Lender

              	 
	 	 	 
	 	 
      	 
	 	      
                By:

              	
                 
    

              	 
	 	      
                Name:

              	
                 
    

              	 
	 	      
                Title:
      

              	
                

                   
      

                

              	 

      

       

    

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continue on the next page.]

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    
      

      
        	 	      
                BAYERISCHE
      LANDESBANK, as
      Lender

              	 
	 	 	 
	 	 
      	 
	 	      
                By:

              	
                 
    

              	 
	 	      
                Name:

              	
                 
    

              	 
	 	      
                Title:
      

              	
                

                   
      

                

              	 

      

       

    

    
      
        	 	 
      	 
	 	      
                By:

              	
                 
    

              	 
	 	      
                Name:

              	
                 
    

              	 
	 	      
                Title:
      

              	
                

                   
      

                

              	 

      

       

    

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continue on the next page.]

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    
      
        	 	      
                ING REAL ESTATE FINANCE (USA)
      LLC, as Lender

              	 
	 	 	 
	 	 
      	 
	 	      
                By:

              	
                 
    

              	 
	 	      
                Name:

              	
                 
    

              	 
	 	      
                Title:
      

              	
                

                   
      

                

              	 

      

      

        
          
             

          

          
             

            
              

            

          

          
            
            

          

        

      

    

     

    
      
        	 	      
                ADMINISTRATIVE
      AGENT:

              	 
	 	 
      	 
	 	      
                BANK OF AMERICA, N.A., as
      Administrative Agent

              	 
	 	 	 
	 	 
      	 
	 	      
                By:

              	
                 
    

              	 
	 	      
                Name:

              	
                 
    

              	 
	 	      
                Title:
      

              	
                

                   
      

                

              	 

      

      

        
          
             

          

          
             

            
              

            

          

          
            
            

          

        

      

    

    

    EXHIBIT
A

    

    AMENDED
AND RESTATED SCHEDULE 2.011

    

    COMMITMENTS

    AND
APPLICABLE PERCENTAGES

    

    (as of the date of the
Second Amendment)

    

    
      	
              Lender

            	 	
              Commitment

            	 	 	
              Applicable
      Percentage

            	 
	
              Bank
      of America, N.A.

            	 	$	75,000,000	 	 	 	21.4286%	 
	
              BMO
      Capital Markets Financing, Inc.

            	 	$	75,000,000	 	 	 	21.4286%	 
	
              Bayerische
      Landesbank

            	 	$	75,000,000	 	 	 	21.4286%	 
	
              Wachovia
      Bank, National Association

            	 	$	50,000,000	 	 	 	14.2857%	 
	
              ING
      Real Estate Finance (USA) LLC

            	 	$	50,000,000	 	 	 	14.2875%	 
	
              Landesbank
      Baden-Wüerttemberg

            	 	$	25,000,000	 	 	 	7.1428%	 
	
              Total

            	 	$	350,000,000	 	 	 	100.000000000%	 

    

     

    
      1 This
Amended and Restated Schedule 2.01 is subject to being replaced by a Second
Amended and Restated Schedule 2.01 in accordance with Section 2(i)(i) of the
Second Amendment.

    

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
B

    

    AMENDED
AND RESTATED SCHEDULE 5.08

    

    BORROWING
BASE PROPERTIES; CREDIT FACILITY GUARANTORS; ALLOCATED LOAN AMOUNTS; PROPERTY
MANAGERS

    

    
      	
              Property Name

            	
              Address

            	
              Property Owner (Credit Facility
      Guarantor)

            	
              Property Manager

            	
              Rentable Square Feet

            	
              Allocated Loan Amount

            
	
              Village
      on Canon

            	
              301
      N. Canon Drive, Beverly Hills, CA (Beverly Hills area)

            	
              Douglas
      Emmett 1993, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              100,004

            	
              $43,418,948

            
	
              Camden
      Medical Arts

            	
              414
      N. Camden Drive, Beverly Hills, CA (Beverly Hills area)

            	
              Douglas
      Emmett 1995, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              64,554

            	
              $29,761,612

            
	
              Saltair
      / San Vicente

            	
              12011
      San Vicente Blvd., Los Angeles, CA (Brentwood area)

            	
              Douglas
      Emmett 1996, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              54,244

            	
              $14,169,486

            
	
              Verona

            	
              530
      Wilshire Blvd., Santa Monica, CA  (Santa Monica
      area)

            	
              Douglas
      Emmett 1996, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              48,436

            	
              $18,437,404

            
	
              Tower
      at Sherman Oaks

            	
              14724
      Ventura Boulevard, Los Angeles, CA (Sherman Oaks area)

            	
              Douglas
      Emmett 1996, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              164,310

            	
              $33,574,285

            
	
              One
      Westwood*

            	
              10990
      Wilshire Blvd, Los Angeles, CA (Westwood area)

            	
              Douglas
      Emmett Realty Fund 1997

            	
              Douglas
      Emmett Management, LLC

            	
              201,921

            	
              $75,684,405

            
	
              Brentwood
      / Saltair

            	
              11999
      San Vicente Blvd, Los Angeles, CA (Brentwood area)

            	
              Douglas
      Emmett 1998, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              57,344

            	
              $15,136,881

            
	
              9601
      Wilshire Blvd.

            	
              9601
      Wilshire Blvd., Beverly Hills, CA (Beverly Hills area)

            	
              Douglas
      Emmett 2000, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              301,849

            	
              $113,071,362

            
	
              Santa
      Monica Square

            	
              201
      Santa Monica Blvd., Santa Monica, CA (Santa Monica area)

            	
              Douglas
      Emmett 2000, LLC

            	
              Douglas
      Emmett Management, LLC

            	
              77,375

            	
              $26,745,617

            
	 
      	 
      	 
      	 
      	 
      	 
      
	
               

              *Ground
      Lease, 1/6th
      interest in Fee, and Option to buy remainder of Fee

               

            

    

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    EXHIBIT
C

    

    AMENDED
AND RESTATED SCHEDULE 5.25

    

    (Rent
Rolls)

     

    (See
attached)

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    EXHIBIT
D

    

    AMENDED
AND RESTATED SCHEDULE 10.02

    (Tax
Identification Numbers)

    

    
      	
              Douglas
      Emmett 2006, LLC

            	
              20-5321324

            
	
              Douglas
      Emmett Properties, LP

            	
              20-3213411

            
	
              Douglas
      Emmett 1993, LLC

            	
              68-0587906

            
	
              Douglas
      Emmett 1995, LLC

            	
              16-1700675

            
	
              Douglas
      Emmett 1996, LLC

            	
              76-0770980

            
	
              Douglas
      Emmett Realty Fund 1997-

            	
              95-4653254

            
	
              Douglas
      Emmett 1998, LLC-

            	
              20-2983805

            
	
              Douglas
      Emmett 2000, LLC

            	
              20-2983832

            

    

    

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
E

    
 

    Qualifications
to Representations and Warranties (if any)

     

    1.           That
all references to the rent rolls in the representations and warranties contained
in the Loan Documents are to the rent rolls attached to Amended and Restated
Schedule 5.25.

     

    2.           That
all references to the delinquency reports in the representations and warranties
contained in the Loan Documents are to the delinquency reports attached to this
Exhibit E. 

     

    3.           That
for purposes of Section 5.25(c) of the Original Credit Agreement, and with
respect to Leases entered into or Modified since October 30, 2006 (the
"Original Closing Date"), such representation and warranty shall be limited to a
representation and warranty that Borrower has delivered to the
Administrative Agent copies of all Major Leases, and any Modifications thereto,
entered into with respect to the Borrowing Base Properties since
the Original Closing Date and such copies are true, correct and complete in
all material respects.

     

    4.           The
representation and warranty in Section 5.25(d) of the Original Credit Agreement
is true and correct as of the Original Closing Date, but the original Lease
summaries may have become inaccurate to the extent that a Lease was Modified
since the Original Closing Date and such Modification(s) are not reflected
in the original Lease summaries. Notwithstanding the foregoing, the Borrower
reaffirms its representation and warranty in Section 5.25(c) of the Original
Credit Agreement, as qualified herein, that Borrower has delivered to the
Administrative Agent copies of all Major Leases, and any Modifications thereto,
entered into with respect to the Borrowing Base Properties since
the Original Closing Date and such copies are true, correct and complete in
all material respects.

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    Exhibit
F

    Form of
Joinder

    JOINDER

    

    Dated:
______, ____

    

    Reference
is made to that certain Second Amendment to Credit Agreement and Reaffirmation
of Loan Documents dated as of August 31, 2007 among Douglas Emmett 2006, LLC, a
Delaware limited liability company (“Borrower”), Lenders
from time to time party thereto, Bank of America, N.A., as Administrative Agent,
Swing Line Lender and L/C Issuer (as amended, restated, extended, supplemented
or otherwise modified in writing from time to time, the “Second Amendment;”
the terms defined therein being used herein as therein defined).  This
Joinder is being delivered pursuant to Section 2(k) of the Second
Amendment.

    

    (“Lender”), hereby
agrees to become a party under the Second Amendment and agrees to be bound by
all the terms and conditions of the Second Amendment applicable to a Lender from
and after the date hereof as if a signatory to the Second
Amendment.  The increased amount of Commitments agreed to by Lender
hereunder is $_________________.

    

    The
undersigned hereby consent to the undersigned Lender becoming a party to the
Second Amendment.  This Joinder is executed by the parties hereto as
of the date first written above.

    

    
      	 	      
              Lender:

            	 
	 	 	 
      	 
	 	      
              By:

            	
               
    

            	 
	 	      
              Name: 
      

            	
              

                 

              

            	 
	 	      
              Title:

            	
               
    

            	 

    

    

    Consented:

    

    
      	
              Borrower:

            
	
              DOUGLAS EMMETT 2006, LLC,

            
	
              a
      Delaware limited liability company

            
	 
      	 
      
	
              By:

            	
              Douglas
      Emmett Management, Inc.,

            
	 
      	
              a
      Delaware corporation, its Manager

            
	 
      	 
      
	 
      	 
      
	 
      	

              By: 
      

            	

               

            	
               

            
	 
      	
              Name:
      William Kamer

            
	 
      	
              Title:
      Chief Financial Officer

            

    

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

     

    Consented:

    

    
      	
              BANK OF AMERICA, N.A.,
      as Administrative Agent

            	 
      
	 
      	 	 
      	 
      
	
              By:

            	 	 
      	 
      
	
              Name:

            	 	 
      	 
      
	
              Title:

            	 	 
      	 
      

    

    

      
        
           

        

        
           

          
            

          

        

        
          
          

        

      

    

    

    Attachment
A

    

    Form of
Agreement Supplementing Deeds of Trust

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    Attachment
B

    

    Form of
Reaffirmation of OP Guaranty

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    Attachment
C

    

    Form of
Reaffirmation of Credit Facility Guaranty

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    Attachment
D

    

    Form of
Reaffirmation of Contribution Agreement

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    Attachment
E

    

    Form of
Reaffirmation of Reimbursement Agreement

    
      
         

      

      
         

        
          

        

      

      
        
        

      

    

     

    Attachment
F

     

    Form of
Reaffirmation of Property Manager’s Consent

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