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Exhibit 10.58  

Douglas Emmett 2002, LLC  

 
  MODIFICATION AGREEMENT    
    
    (Long Form)    
    

        This Modification Agreement ("Agreement") is made as
of                        , 2006, by and among Douglas Emmett 2002,
LLC, a limited liability company organized under the laws of the State of Delaware ("Borrower"); DEG, LLC, a limited liability company organized under
the laws of the State of Delaware ("Original Co-Borrower"); San Vicente Plaza, a California limited partnership, and Owensmouth/Warner, LLC,
a California limited liability company (individually, a "New Co-Borrower" and, collectively, the "New
Co-Borrowers"); each of the lenders that is a signatory hereto identified under the caption "LENDERS" on the signature pages hereto (individually, a
"Lender" and, collectively, the "Lenders"); and EUROHYPO AG, NEW YORK BRANCH, as agent for the Lenders
(in such capacity, together with its successors in such capacity, the "Administrative Agent"). 

Factual Background  

        A.    Borrower,
Original Co-Borrower, the Lenders and the Administrative Agent are parties to that certain Loan Agreement dated as of August 25, 2005 (said
Loan Agreement, as Modified by that certain Joinder and Supplement Agreement dated as of August 25, 2005, and as Modified and in effect from time to time, being herein called the
"Loan Agreement"; and except as otherwise herein expressly provided, all terms defined in the Loan Agreement are being used herein as defined therein),
whereby the Lenders made Loans to Borrower and Original Co-Borrower. 

        B.    The
Loans are evidenced by, and repayable with interest thereon in accordance with certain Notes and secured by the Deeds of Trust encumbering the Projects referred to in
the Loan Agreement which have not heretofore been released (the "Existing Projects") and the other Security Documents. 

        C.    Douglas
Emmett Realty Advisors, a California corporation ("DERA") guaranteed certain obligations of Borrower and Original
Co-Borrower in accordance with a Borrower's Manager's Limited Indemnity and Guarantee dated August 25, 2005. 

        D.    As
of the date of this Agreement, and prior to giving effect to the modifications herein, the outstanding principal balance of the Loans is $110,000,000. In connection
with the modifications provided for herein, upon the IPO Closing Time described below, the maximum outstanding principal balance of the Loans will be increased to $164,200,000, each New
Co-Borrower will assume liability, jointly and severally with Borrower and Original Co-Borrower, for the Loan, and each New Co-Borrower will encumber an additional
project owned by it (each, a "New Project") as additional security for the Loans, as modified hereby, and certain other modifications as described
herein shall be made to the terms of the Loans. 

        E.    Borrower
has represented to the Agent and the Lenders that the "Formation Transactions" (as described in that certain Amendment No. 2 to
Form S-11 filed on September 20, 2006 with the United States Securities and Exchange Commission(1)) (the "Original
S-11") have been consummated. Those transactions include, among other things, an initial public offering (the "IPO")
of shares in Douglas Emmett, Inc., a Maryland corporation (the "REIT"), as part of a series of transactions that are intended to qualify as a
Permitted Reorganization and a Permitted Public REIT Transfer. Pursuant to those transactions, Douglas Emmett Properties LP, a Delaware limited partnership (the
"OP"), is the operating partnership and principal subsidiary of the REIT; Borrower's Member, which is also a member of Original Co-Borrower,
through a merger with a directly or indirectly wholly-owned subsidiary of the OP pursuant to an Agreement and Plan of Merger (the "Borrower's Member Merger  

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 Agreement"), in which Borrower's Member is the surviving entity, and other contribution transactions involving the REIT or its subsidiaries, has become a directly or indirectly
wholly-owned Subsidiary of the OP; Borrower's Manager, through a merger with a directly or indirectly wholly-owned subsidiary of the REIT pursuant to an Agreement and Plan of Merger (the
"Borrower's Manager Merger Agreement"), in which Borrower's Manager is not the surviving entity, and other contribution transactions involving the REIT
or its subsidiaries, has transferred its general partnership interest in Borrower's Member to Douglas Emmett Management, LLC, a Delaware limited liability company ("New General
Partner"); Borrower's Manager has resigned as the non-member manager of Borrower and Original Co-Borrower and of any existing subsidiaries of Borrower
or Borrower's Member that are limited liability companies, and Douglas Emmett Management, Inc., a Delaware corporation ("New Borrower's
Manager"), a wholly-owned subsidiary of the REIT, has been appointed as the new non-member manager of Borrower and Original Co-Borrower and of any
existing subsidiaries of Borrower or Borrower's Member that are limited liability companies; and the remaining membership interest of HBRCT in Original Co-Borrower has been contributed to
the OP and distributed to Borrower's Member resulting in Original Co-Borrower becoming a wholly-owned Subsidiary of Borrower's Member; and the interests of the member(s) or limited
partner(s) in New Co-Borrower have been acquired, pursuant to a merger or acquisition agreement ("New Co-Borrower's Merger
Agreement"), and other contribution transactions involving the REIT or its subsidiaries, by the OP; and the interest of the general partner in New Co-Borrower has
been acquired, pursuant to New Co-Borrower's Merger Agreement, and other contribution and related transactions involving the REIT or its direct or indirect subsidiaries, by New General
Partner; and the Property Management Agreement for each Existing Project or New Project with Douglas, Emmett and Company, a California corporation, has been terminated and new property management
agreements for each Existing Project and New Project have been entered into with New General Partner. Borrower's Member Merger Agreement, Borrower's Manager Merger Agreement, New
Co-Borrower's Merger Agreement and the other documents entered into in connection with the Formation Transactions are collectively referred to herein as the
"Reorganization Documents." The date and time as of which the proceeds of the IPO have been received by the REIT is sometimes referred to herein as the
"IPO Closing Time." 

	(1)
	If
a further amendment to the S-11 is filed before this Escrow Delivery Letter Agreement becomes effective, this reference may be adjusted to refer to that further
amendment. 

        F.     Borrower,
Original Co-Borrower, each New Co-Borrower, the Lenders and the Administrative Agent entered into that certain escrow delivery letter
agreement, dated as of September    , 2006 (the "Escrow Delivery Letter"), pursuant to which certain documents (including this Agreement)
were deposited with counsel to the Administrative Agent in escrow, pending the IPO Closing Time and the satisfaction of certain conditions set forth in such Escrow Delivery Letter. 

        G.    Borrower,
Original Co-Borrower, each New Co-Borrower, the Lenders and the Administrative Agent now wish to modify the Loan Agreement and other
Loan Documents as set forth below. 

Agreement  

        Therefore, Borrower, Original Co-Borrower, each New Co-Borrower, the Lenders and the Administrative Agent agree effective upon the IPO
Closing Time as follows: 

        1.    Reaffirmation of Loan.    Borrower and Original Co-Borrower reaffirm all of
their respective obligations under the Loan Documents, and Borrower, Original Co-Borrower and each New Co-Borrower acknowledge that they have no claims, offsets or defenses
with respect to the payment of sums due under the Notes or any other Loan Document. 

        2.    Joinder.    Concurrently herewith Borrower, Original Co-Borrower and New
Co-Borrowers are executing and delivering the Joinder and Supplement Agreement attached hereto, to be effective as of 

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the
IPO Closing Time (the "New Co-Borrower Joinder and Supplement"). The New Co-Borrower Joinder and Supplement is a Loan
Document. The Co-Borrower Projects referred to in the New Co-Borrower Joinder and Supplement are hereby added to the descriptions contained in  Schedule 1A and Schedule 1B of the Loan Agreement. Each such Co-Borrower
Project is a Project, as defined in the Loan Agreement. New Co-Borrower is a Borrower Party. 

        3.    Modification of Loan Documents.    Effective upon the IPO Closing Time, the Loan
Documents are hereby amended, and additional agreements are hereby made with respect to the Loans, as follows: 

        (a)    Modified Loan Agreement and Loan Documents.    All references to the Loan Agreement in
the Loan Agreement or in any other Loan Documents shall mean the Loan Agreement as modified by this Modification Agreement, and as supplemented by the New Co-Borrower Joinder and
Supplement executed by each New Co-Borrower. In addition to the documents identified in the Loan Agreement, the Loan Documents shall include, without limitation, this Agreement and the
documents delivered pursuant to Sections 2, 3 and 9(c) of the Escrow Delivery Letter. 

        (b)    Modification to Allocated Loan Amounts, Appraisal Amounts and Title Insurance
Amounts.    Schedules 1.01(1), 1.01(3) and 1.01(9), attached to the Loan Agreement are hereby amended and restated in
their entireties by Amended and Restated Schedules 1.01(1), 1.01(3) and 1.01(9) attached to this
Agreement. Such Amended and Restated Schedules 1.01(1), 1.01(3) and 1.01(9) set forth, respectively,
revised Allocated Loan Amounts, Appraisal Amounts and Title Policy amounts for each Project. 

        (c)    Modification to Proportionate Shares and Commitments of the
Lenders.    Schedule 1.01(4) attached to the Loan Agreement is hereby amended and restated in its entirety by  Amended and
Restated Schedule 1.01(4) attached to this Agreement. Such Amended and Restated
Schedule 1.01(4) sets forth the revised Proportionate Shares and Commitments of the Lenders. 

        (d)    Additional Definitions.    The following additional definitions are hereby added to the
Loan Agreement: 

          (i)  "Additional Note A" shall mean those certain notes denominated "Additional Advance Note A" dated as of the date
hereof, executed by Borrower, Original Co-Borrower and each New Co-Borrower to the order of the Lender named therein, in the aggregate original principal amount of
$30,883,190.89, as the same may be Modified from time to time. 

         (ii)  "Additional Note B" shall mean those certain notes denominated "Additional Advance Note B" dated as of the date
hereof, executed by Borrower, Original Co-Borrower and each New Co-Borrower to the order of the Lender named therein, in the aggregate original principal amount of
$20,228,490.02, as the same may be Modified from time to time. 

        (iii)  "Additional Note C" shall mean those certain notes denominated "Additional Advance Note C" dated as of the date
hereof, executed by Borrower, Original Co-Borrower and each New Co-Borrower to the order of the Lender named therein, in the aggregate original principal amount of
$3,088,319.09, as the same may be Modified from time to time. 

        (iv)  Reserved.

         (v)  Reserved.

        (vi)  Reserved.

       (vii)  "Modification Agreement" shall mean the Modification Agreement entered into by Borrower, Original
Co-Borrower, each New Co-Borrower, the Administrative Agent and the Lenders party thereto effective as of the IPO Closing Time. 

      (viii)  Reserved.

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        (ix)  "OP" means Douglas Emmett Properties, LP, a Delaware limited partnership. All references in the Loan Documents to the
Operating Partnership shall mean the OP. 

         (x)  "REIT" means Douglas Emmett, Inc., a Maryland corporation. All references in the Loan Documents to the Permitted
Public REIT shall mean the REIT. 

        (e)    Additional Definitions from Modification Agreement.    The following terms which are
defined in this Modification Agreement (and the definitions thereof set forth herein) are hereby added to the Loan Agreement: 

          (i)  "Additional
Advance" 

         (ii)  "Additional
Advance Notice" 

        (iii)  Reserved.

        (iv)  Reserved.

         (v)  Reserved.

        (vi)  "IPO
Closing Date Commitments" 

       (vii)  "IPO
Closing Date Advance" 

      (viii)  "IPO
Closing Date Commitment Percentage" 

        (ix)  "IPO
Closing Time" 

         (x)  "Pre-IPO
Outstanding Balance" 

        (xi)  "Original
Co-Borrower" 

       (xii)  "New
Co-Borrower" 

      (xiii)  "New
Co-Borrower Joinder and Supplement" 

      (xiv)  "New
Borrower's Manager" 

       (xv)  "New
General Partner" 

        (f)    Amendments to Certain Definitions.    The definitions of the following terms in the
Loan Agreement are hereby amended and restated in their entireties as follows: 

          (i)  "Co-Borrower" shall mean each New Co-Borrower named in the Modification Agreement as well as the
Original Co-Borrower named in the original Loan Agreement, subject in each case to the Joinder and Supplement delivered by such New Co-Borrower or Original
Co-Borrower, until such time (if any) as a Qualified Successor Entity shall acquire all of the Co-Borrower Projects owned by such Person and assume the obligations of such
Person under the Loan Documents and such Person shall be released from its respective obligations under the Loan Documents, in accordance with  Section 9.03(a)(iii) of the Loan Agreement, at which
time the applicable "Co-Borrower" shall be such Qualified Successor Entity. 

         (ii)  "Co-Borrower Projects" shall mean the Projects owned by the Co-Borrowers that are described in
the Joinders and Supplements delivered by Original Co-Borrower and New Co-Borrowers as contemplated by the Loan Agreement and the Modification Agreement, respectively. 

        (iii)  "Douglas Emmett Realty Funds" shall mean Douglas Emmett Joint Venture,
Douglas Emmett Realty Fund 1995, Douglas Emmett Realty Fund 1996, Douglas Emmett Realty Fund 1997, Douglas Emmett Realty Fund 1998, Douglas Emmett Realty Fund 2000, Douglas 

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Emmett
Realty Fund 2002 and Douglas Emmett Realty Fund 2005, each Co-Borrower, and their respective Subsidiaries." 

        (iv)  "Note A" shall mean, collectively, (i) those certain notes denominated "Note A" dated concurrently with
the original Loan Agreement (or notes denominated Note A dated September 7, 2005, given in substitution for certain of such original notes or replacement notes given in substitution for
certain of such notes in accordance with the Escrow Delivery Agreement), executed by Borrower and Original Co-Borrower to the order of the Lender named therein, in the aggregate original
principal amount of $62,678,062.68, as the same may be Modified from time to time, and (ii) each Additional Note A. Each Note A shall constitute a "Note" for all purposes under
this Agreement and the other Loan Documents. 

         (v)  "Note B" shall mean, collectively, (i) those certain notes denominated "Note B" dated concurrently with the
original Loan Agreement (or notes denominated Note B dated September 7, 2005, given in substitution for certain of such original notes or replacement notes given in substitution for
certain of such notes in accordance with the Escrow Delivery Agreement), executed by Borrower and Original Co-Borrower to the order of the Lender named therein, in the aggregate original
principal amount of $41,054.131.05, as the same may be Modified from time to time, and (ii) each Additional Note B. Each Note B shall constitute a "Note" for all purposes under
this Agreement and the other Loan Documents. 

        (vi)  "Note C" shall mean, collectively, (i) those certain notes denominated "Note C" dated concurrently with
the original Loan Agreement (or notes denominated Note C dated September 7, 2005, given in substitution for certain of such original notes or replacement notes given in substitution for
certain of such notes in accordance with the Escrow Delivery Agreement), executed by Borrower and Original Co-Borrower to the order of the Lender named therein, in the aggregate original
principal amount of $6,267,806.27, as the same may be Modified from time to time, and (ii) each Additional Note C. Each Note C shall constitute a "Note" for all purposes under
this Agreement and the other Loan Documents. 

       (vii)  "Qualified Successor Entity" shall mean a Permitted Public REIT Subsidiary of the REIT (other than the OP). 

      (viii)  "Stated Maturity Date" means August 31, 2012, subject to Section 2.10. 

        (g)    Modifications to certain References.    The following references in the Loan Documents
are hereby replaced as follows: 

          (i)  Each
reference in the Loan Documents to Douglas, Emmett & Company as the Property Manager is hereby replaced with a reference to Douglas Emmett Management, LLC,
a Delaware limited liability company. 

         (ii)  Each
reference in the Loan Documents to DERA as Borrower's Manager is hereby replaced with a reference to Douglas Emmett Management, Inc., a Delaware
corporation. Each reference to Borrower's Manager shall mean Douglas Emmett Management, Inc., a Delaware corporation, until such time as a new Borrower's Manager is appointed as permitted by
the Loan Agreement. In the case of New Co-Borrower, each reference to Borrower's Manager shall mean and refer to New General Partner. 

        (iii)  Each
reference in the Loan Documents to DERA as the sole general partner of Borrower's Member is hereby replaced with a reference to Douglas Emmett Management, LLC, a
Delaware limited liability company, and each reference to the general partner of Borrower's Member shall mean Douglas Emmett Management, LLC, a Delaware limited liability company, until such time as a
new general partner of Borrower's Member is admitted as permitted by the Loan Agreement. 

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        (iv)  Each
reference in the Loan Documents to DERA in its capacity as guarantor pursuant to the Guarantor Documents is hereby replaced with a reference to the OP. Each
reference in the Loan Documents to "Borrower's Manager's Limited Indemnity and Guarantee" shall mean and refer to the Limited Indemnity and Guarantee delivered by the OP effective upon the IPO Closing
Time. 

         (v)  For
purposes of the following provisions of the Loan Agreement, the term "Borrower Party" shall include, without limitation, the OP: the definitions of "ERISA
Affiliate," "ERISA Event," "Material Adverse Effect," and "Plan," and Sections 7.02, 7.06, 7.07, 7.30, 7.33, 8.03, 9.16 and 12.01(c) of the Loan Agreement. 

        (vi)  The
references to "Borrower Party" in Section 12.02(a) of the Loan Agreement are hereby replaced with "Bankruptcy Party." 

       (vii)  The
following Schedules attached to the Loan Agreement are hereby supplemented or amended and restated (as set forth below): 

        (A)  Schedules 1.01(6), 1.01(7),  1.01(8), 7.09, and 8.11 are hereby supplemented with
respect to the New Projects as set forth on Supplemental Schedules 1.01(6), 1.01(7), 1.01(8),  7.09, and
8.11 attached hereto. 

        (B)  Schedules 7.05, 7.11 and  7.22 are hereby amended and restated as set forth in Amended and Restated
Schedules 7.05,  7.11, and 7.22 attached hereto. 

      (viii)  The
"Primary Credit Facility" referred to in the Loan Agreement shall mean the primary revolving credit facility under which the Permitted REIT (directly or through
its Operating Partnership or another Permitted REIT Subsidiary) obtains financing for its general purposes. 

        (ix)  The
reference to "Secured Capital" in the Loan Agreement is hereby revised to "Eastdil Secured Capital and affiliates." 

         (x)  The
parties acknowledge that the Stub Interest Period ended on (but did not include) September 1, 2005. Accordingly, Section 2.10 of the Loan Agreement is
hereby amended and restated in its entirety to read as follows: 

"Notwithstanding
anything to the contrary contained in this Agreement, (i) the Outstanding Principal Amount under all Notes shall become automatically due and payable on September 1,
2010 if on or prior to such date the Borrower has not paid to the Administrative Agent in accordance with the Fee
Letter for the benefit of the Lenders an extension fee equal to five (5) basis points (0.05%) times the Outstanding Principal Amount under all Notes as of September 1, 2010 or if on such
date an Event of Default exists and (ii) the Outstanding Principal Amount under all Notes shall become automatically due and payable on September 1, 2011 if on such date the Borrower has
not paid to the Administrative Agent in accordance with the Fee Letter for the benefit of the Lenders an extension fee equal to five (5) basis points (0.05%) times the Outstanding Principal
Amount under all Notes as of September 1, 2011 or if on such date an Event of Default exists." 

        4.    Modification to DSCR for Project
Releases.    Section 2.09(a)(v) of the Loan Agreement is hereby modified to replace
"1.50-to-1.00" with "1.35-to-1.00." 

        5.    Understandings Concerning Hedge Arrangements.    Notwithstanding anything to the
contrary set forth in the Loan Agreement or the other Loan Documents, the Aggregate Notional Amount as to which Borrower's obligations set forth in  Section 8.19 of the Loan Agreement shall apply
shall be an amount equal to the outstanding principal balance of the Loans as of the date of this
Agreement, 

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without
giving effect to any of the Additional Advances made pursuant to this Agreement, whether on or after the IPO Closing Time; provided, however, that in the event the Outstanding Principal Amount
is reduced below such amount, the Aggregate Notional Amount as to which Borrower's obligations set forth in Section 8.19 of the Loan Agreement
shall apply shall not exceed the Outstanding Principal Amount. For purposes of Section 8.19 of the Loan Agreement only, the All-In
Rate shall be determined pursuant to clause (i) of the first sentence of the definition of All-In Rate. In all other respects, Borrower's obligations set forth in  Section 8.19 of the Loan
Agreement shall remain in full force and effect. Notwithstanding the foregoing, Borrower or the Other Swap Pledgor may
transfer the Hedge Agreements to the OP or any Permitted REIT Subsidiary substantially concurrently with or following the IPO Closing Time so long as (i) the OP or such Permitted REIT
Subsidiary assumes the obligations under the Hedge Agreements and indemnifies the Other Swap Pledgor party thereto from any obligations thereunder arising from and after such assumption (unless the
Other Swap Pledgor is released by the Counterparty thereto from its obligations thereunder); (ii) the OP or such Permitted REIT Subsidiary assumes and ratifies all of the obligations of the
Other Swap Pledgor under the Hedge Agreement Pledge and delivers such documents and takes such other steps as are deemed reasonably necessary by the Administrative Agent to preserve, protect and
maintain, and to assure the first priority of, the security interests arising thereunder from and after such assumption; (iii) prior to such transfer, the Third Party Counterparty thereto
confirms that such transfer is permitted and that any acknowledgment previously delivered to the Administrative Agent will remain in effect after such transfer; and (iv) all documentation
relating to the foregoing is delivered to the Administrative Agent within ten (10) Business Days after such documentation is fully executed and delivered by the parties thereto. 

        6.    Modification to DSCR for Restoration following
Casualty.    Section 10.03(c)(iv) of the Loan Agreement is hereby modified to replace
"1:50[sic]:1.00" with "1.35-to-1.00." 

        7.    Modifications to Cross-Default Provision relating to Guaranteed Line of
Credit.    Section 12.01(m) of the Loan Agreement shall not apply if the obligations under the applicable
Guarantee thereof furnished by a Borrower or Co-Borrower or any Subsidiary of the Borrower or Co-Borrower in conformity with  Section 9.04(h) of the Loan Agreement are secured, in compliance with
Section 9.02(k) of
the Loan Agreement, exclusively by Liens on one or more Excluded Projects, and the obligations under such Guarantee are non-recourse to the Borrower and Co-Borrower and their
respective Subsidiaries (except for "carve-outs" for the Borrower's or Co-Borrower's or their respective Subsidiary's fraud, misrepresentation, misappropriation and other
exceptions-from-non-recourse with respect to the acts of such Borrower, Co-Borrower or Subsidiary customary in the real estate finance industry). In
addition, to the extent that Section 12.01(m) of the Loan Agreement does apply, it shall not be an Event of Default under the Loans unless and
until the obligor under the Guaranteed Line of Credit has failed to cure an event of default under the Guaranteed Line of Credit following applicable notice and cure periods thereunder. References in  Sections 9.02(k)
 and 9.04(h)of the Loan Agreement to the phrase "Borrower or its Subsidiaries" shall be
replaced by "Borrower or any Co-Borrower or their respective Subsidiaries". 

        8.    Effect of Consummation of IPO Transactions.    It is agreed that the REIT is the
Permitted Public REIT described in the Loan Agreement; the OP is the Operating Partnership described in the Loan Agreement; the transactions described in the Final S-11 include
transactions which comprise the Permitted Reorganization and the Permitted Public REIT Transfer; and that Borrower shall have no further right, from and after the IPO Closing Time, to consummate any
other Permitted Reorganization or Permitted Public REIT Transfer, except for transfers which are permitted under Section 9.03 of the Loan Agreement following a Permitted Public REIT Transfer,
the changes to Borrower's Manager that are permitted under Section 14.31(a) of the Loan Agreement, the changes to its fiscal year permitted under  Section 14.31(b)
 of the Loan Agreement, the dissolution of the Borrower's Member and changes in the Property Manager or management arrangements
for the 

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Projects
that are permitted under Section 14.31(d) of the Loan Agreement (provided that it is understood for both of these purposes that all
references therein to the Permitted Public REIT shall mean and refer to the REIT). Effective upon the IPO Closing Time, (i) the provisions of the Loan Agreement which permit transfers to or
acquisitions of interests in Borrower by a Permitted Private REIT or a Permitted Private REIT Subsidiary shall be of no further force or effect; (ii) all references in the Loan Agreement to a
"Permitted REIT" shall mean the REIT; and (iii) there shall be only one Permitted Public REIT, which shall be the REIT. 

        9.    Participation by DERA or Named Principals Going Forward.    It is understood and agreed
that the references to the Named Principals in the following provisions of the Loan Documents shall be of no further force or effect: the definitions of "Immaterial Subsidiary," "Permitted Public
REIT" and "Principals," and Sections 9.03(a)(iii), 9.03(b), 9.03(c), 9.04(e), 9.04(f), 9.04(g), 9.15 and 12.01(s). 

        10.    Release of DERA and Douglas, Emmett & Company.    The Administrative Agent and
the Lenders hereby release (i) DERA from any and all obligations and liabilities under the Guarantor Documents arising from and after the IPO Closing Time and (ii) Douglas
Emmett & Company from any and all obligations and liabilities under the Property Manager's Consents arising from and after the IPO Closing Time. 

        11.    Reserved.    

        12.    Accordion Feature Eliminated.    The provisions of  Section 2.11 of the Loan Agreement (and any references
thereto or to any Joinder to be delivered pursuant thereto in any Loan Document) shall be
null, void and of no further force or effect. 

        13.    Ratification of Liens.    Each of the Deeds of Trust and other Security Documents is
modified to secure payment and performance of the Obligations of Borrower, Original Co-Borrower and each New Co-Borrower under the Loan Documents as modified and supplemented
pursuant to this Agreement, in addition to all other Obligations stated therein to be secured therein. 

        14.    Additional Advances.    

        (a)   The
outstanding balance of the Loans immediately prior to the IPO Closing Time is $110,000,000 (the "Pre-IPO Outstanding
Balance"). 

        (b)   On
the date on which the IPO Closing Time occurs, each Lender having an IPO Closing Date Commitment (as defined below) severally agrees to make an additional advance to
Borrower (each such loan, an "IPO Closing Date Advance") in an amount identified in Amended and Restated
Schedule 1.01(4) as the "IPO Closing Date Commitment" of such Lender in accordance with the terms and conditions set
forth in this Section 14. The "IPO Closing Date Commitment Percentage" means, as to any Lender at
any time, the percentage equivalent of such Lender's IPO Closing Date Commitment divided by the IPO Closing Date Commitments of all Lenders at such time. 

        (c)   Reserved.

        (d)   Reserved.

        (e)   The
IPO Closing Date Advances ("Additional Advances") made by each Lender having an IPO Closing Date Commitment or
Deferred Funding Commitment, respectively, shall be evidenced by the
Additional Note A, Additional Note B or Additional Note C, as applicable, delivered to such Lender. Once repaid or prepaid, Borrower may not reborrow any Additional Advance. 

        (f)    Additional Advance Notice.    Each Additional Advance shall be made upon the irrevocable written notice
(including notice via facsimile confirmed immediately by a telephone 

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call)
of Borrower in the form of Exhibit Aattached hereto (an "Additional Advance Notice") as
more fully provided below: 

        (i)    Rate and Terms.    Each Additional Advance shall be a Loan, and shall bear interest and otherwise be subject to
the terms and conditions that apply to all other Loans. 

        (ii)    Timing of Notice.    Each Additional Advance Notice shall be submitted to and received by the Administrative
Agent prior to 9:00 a.m. (New York time) (A) at least three (3) Business Days prior to the specified borrowing date, in the case of Eurodollar Loans; and (B) at least two
(2) Business Days prior to the specified borrowing date, in the case of Base Rate Loans. Notwithstanding the foregoing, in the case of the Additional Advance Notice delivered in connection with
the IPO Closing Date Advance, the time of day by which such notice shall be delivered shall be prior to 12:00 noon (California time). 

        (iii)    Contents of Notice.    Each Additional Advance Notice shall set forth the following information with respect
to the Loan subject thereto: 

        (A)  a
single, specific borrowing date, which shall be a Business Day; 

        (B)  a
single, exact amount for the Loan, which for any Eurodollar Loan, shall be in an aggregate minimum principal amount of $1,000,000 or any multiple of $100,000 in excess
thereof (or such lesser amount as shall then constitute the remaining amount of the IPO Closing Date Commitments); 

        (C)  whether
the Loan is to be made as a Eurodollar Loan or a Base Rate Loan; and 

        (D)  if
the Loan is to be made as a Eurodollar Loan, the applicable Interest Period. If an Additional Advance Notice shall fail to specify the applicable Interest Period for
any Eurodollar Loan requested, such Loan will be made as a Eurodollar Loan with a one month Interest Period. 

        (g)    Notice to Lenders.    Upon receipt of an Additional Advance Notice conforming with the terms of this  Section 14, the
Administrative Agent shall promptly notify each Lender thereof and of the amount of such Lender's IPO Closing Date Commitment
Percentage of the Loan described therein. 

        (h)    Funding of Commitments.    

          (i)  Each
Lender shall make the amount of its IPO Closing Date Commitment Percentage of the IPO Closing Date Advances available to the Administrative Agent for the account
of Borrower on the date on which the IPO Closing Time occurs. In furtherance of the foregoing, provided that the Borrower shall have provided to the Administrative Agent prior to 9:00 A.M. New
York time on the Business Day before the date on which the IPO Closing Time is scheduled to occur (the "Scheduled Closing Date"), unconditional
authorization for closing and funding on the Scheduled Closing Date (including all such authorizations required pursuant to Section 10 of the Escrow Delivery Letter), the Administrative Agent
shall provide telephonic or electronic notification thereof to the Lenders on the date the unconditional authorization is received, and each Lender shall initiate by 9:30 a.m. (New York time)
the wire transfer of its respective IPO Closing Date Commitment Percentages of the IPO Closing Date Advances to the Administrative Agent for the account of Borrower on the Scheduled Closing Date in
Dollars immediately available to the Administrative Agent, and shall otherwise use commercially reasonable efforts to make such funds available to the Administrative Agent for the account of Borrower
on the Scheduled Closing Date, with the objective that the Administrative Agent shall have received such funds by such time as to be in a position to make such funds available to Borrower (provided
all conditions to funding set forth herein and in the Escrow Delivery Letter have been satisfied) on or prior to 12:00 noon 

9

 

(New
York time) on the Scheduled Closing Date, by wire transferring to such account or accounts as shall have been designated to it by Borrower the aggregate of the amounts made available to the
Administrative Agent by the Lenders. The Borrower acknowledges that (except for the obligations of the Lenders to initiate wires as provided herein) no assurances have been made by the Lenders or the
Administrative Agent that funds necessarily will be available to Borrower by any specific time. If the Borrower provides the above-referenced authorization to the Administrative Agent at least one
(1) Business Day before the Scheduled Closing Date, and if for any reason the IPO Closing Time does not occur on the Scheduled Closing Date, the Administrative Agent shall return any funds
received from any Lender to such Lender, and the Borrower shall be responsible for all costs and expenses that result from the fundings by the Lenders (including interest for the day in question,
unless such funds are returned by the time on such day by which a payment would be required to be made pursuant to Section 4.01(a) of the Loan Agreement in order to avoid the accrual of
interest for such day, and costs and expenses of the type referred to in Article V of the Loan Agreement). All amounts to be funded pursuant to this Section shall be funded in Dollars. 

         (ii)  Reserved.

        (i)    Reserved.    

        (j)    Reserved.    

        (k)    Reserved.    

        15.    Modifications of Certain Provisions of the Loan Agreement.    The following provisions
of the Loan Agreement are hereby modified as follows: 

        (a)   The
first sentence of Section 7.10 of the Loan Agreement is hereby deleted. The third sentence of  Section 7.10 of the Loan Agreement is hereby
replaced by the following: "The sole manager of Borrower is New Borrower's Manager. The sole general
partner of Borrower's Member is New General Partner." 

        (b)   The
second sentence of Section 7.11 of the Loan Agreement is hereby replaced by the following: "Neither Borrower
nor Borrower's Member has any Subsidiaries except for those shown on Schedule 7.11." 

        (c)   The
second sentence of Section 7.14 of the Loan Agreement is hereby replaced by the following: "The Borrower and
the New Borrower's Manager were organized in the State of Delaware, and the Borrower's Member was organized in the State of California." 

        (d)   In  Section 7.22 of the Loan Agreement, the reference to "Douglas, Emmett & Company Delinquency/Aging
Report
(Summarized) dated 7/20/2005" is hereby replaced by "Douglas, Emmett & Company Delinquency/Aging Report (Summarized)
dated                        , 2006". 

        (e)   In
Section 7.26 of the Loan Agreement, the reference to the Property Management Agreement shall be to the Property
Management Agreement between Borrower or Co-Borrower and New General Partner in effect as of the IPO Closing Time. 

        (f)    Sections 7.35 and 7.37 of the Loan Agreement are hereby deleted. 

        16.    Certain Acknowledgments.    Administrative Agent and the Lenders hereby acknowledge and
agree as follows: 

        (a)   The
Formation Transactions and the other elements of the Permitted Reorganization (including, without limitation, modifications to the organizational documents of the
Borrower Parties in effect as of the IPO Closing Time) are approved to the extent required by the Loan Documents. 

10

 

        (b)   The
transfer of Equity Interests in any existing Subsidiary of Borrower to Borrower's Member or any other Permitted Public REIT Subsidiary will not require the consent
of the Administrative Agent or the Lenders. The transfer of Equity Interests in any existing Subsidiary of Borrower's Member (other than Borrower) to any other Permitted Public REIT Subsidiary will
not require the consent of the Administrative Agent or the Lenders. 

        17.    Incorporation.    This Agreement shall form a part of each Loan Document, and all references in any Loan
Document to a given Loan Document shall mean that document as hereby modified. 

        18.    No Prejudice; Reservation of Rights.    This Agreement shall not prejudice any rights or remedies of the
Administrative Agent or the Lenders under the Loan Documents, as modified hereby. 

        19.    No Impairment.    Except as specifically hereby amended, the Loan Documents shall each remain unaffected by
this Agreement and all such documents shall remain in full force and effect. Nothing in this Agreement shall impair the Liens of the Deeds of Trust or other Security Documents. The Deeds of Trust as
hereby amended shall remain deeds of trust with power of sale, creating first Liens encumbering each Project. 

        20.    Integration.    The Loan Documents, including this Agreement, the Escrow Delivery Letter and the documents
delivered concurrently herewith pursuant to the Escrow Delivery Letter: (a) integrate all the terms and conditions mentioned in or incidental to the Loan Documents; (b) supersede all
oral negotiations and prior and other writings with respect to their subject matter; and (c) are intended by the parties as the final expression of the agreement with respect to the terms and
conditions set forth in those documents and as the complete and exclusive statement of the terms agreed to by the parties. If there is any conflict between the terms, conditions and provisions of this
Agreement and those of any other agreement or instrument, including any of the other Loan Documents, the terms, conditions and provisions of this Agreement shall prevail. 

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

[Signature
Pages Follow] 

11

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

	 	 	BORROWER:
	

 	
 	

DOUGLAS EMMETT 2002, LLC,

a Delaware limited liability company
	

 	
 	

By:	
 	

Douglas Emmett Management, Inc.,

a Delaware corporation, its Manager
	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer

	 	 	ORIGINAL CO-BORROWER:
	

 	
 	

DEG, LLC, a Delaware limited liability company
	

 	
 	

By:	
 	

Douglas Emmett Management, Inc.,

a Delaware corporation, its Manager
	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer
	

 	
 	
NEW CO-BORROWERS:
	

 	
 	

SAN VICENTE PLAZA, a California limited partnership
	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, LLC,

a Delaware limited liability company,

its General Partner
	

 	
 	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, INC., a Delaware corporation, its Manager
	

 	
 	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer
	

 	
 	

OWENSMOUTH/WARNER LLC,

a California limited liability company
	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, INC., a Delaware corporation, its Manager
	

 	
 	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer

	 	 	LENDERS
	

 	
 	

 	
 	
NOTE A-1 LENDER:
	

 	
 	

 	
 	

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	

 	
 	

 	
 	

By:	
 	

Babson Capital Management Inc.
	 	 	 	 	Its:	 	Authorized Agent
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE A-2 LENDER:
	

 	
 	

 	
 	

METROPOLITAN LIFE INSURANCE COMPANY, A NEW YORK CORPORATION
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE A-3 LENDER:
	

 	
 	

 	
 	

WACHOVIA BANK, NATIONAL ASSOCIATION
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE A-4 LENDER:
	

 	
 	

 	
 	

HYPO REAL ESTATE BANK INTERNATIONAL AG
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-1 LENDER, NOTE B-2A LENDER, NOTE B-9B LENDER AND NOTE B-10B LENDER:
	

 	
 	

 	
 	

EUROHYPO AG, NEW YORK BRANCH
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-2B LENDER:
	

 	
 	

 	
 	

BAYERISCHE LANDESBANK, NEW YORK BRANCH
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-3 LENDER:
	

 	
 	

 	
 	

HYPOTHEKENBANK IN ESSEN AG
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-4 LENDER:
	

 	
 	

 	
 	

LANDESBANK BADEN-WÜRTTEMBERG, NEW YORK BRANCH
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-5 LENDER:
	

 	
 	

 	
 	

LANDESBANK HESSEN-THÜRINGEN GIROZENTRALE
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-6 LENDER:
	

 	
 	

 	
 	

LANDESBANK SACHSEN GIROZENTRALE
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-7 LENDER:
	

 	
 	

 	
 	

LRP LANDESBANK RHEINLAND-PFALZ
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-8 LENDER:
	

 	
 	

 	
 	

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	

 	
 	

 	
 	

By:	
 	

Babson Capital Management Inc.
	 	 	 	 	Its:	 	Authorized Agent
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-9A LENDER:
	

 	
 	

 	
 	

PB CAPITAL CORPORATION
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-10A LENDER:
	

 	
 	

 	
 	

PB (USA) REALTY CORPORATION
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE B-11 LENDER:
	

 	
 	

 	
 	

PNC BANK, NATIONAL ASSOCIATION
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE C-1 LENDER:
	

 	
 	

 	
 	

BARCLAYS CAPITAL REAL ESTATE INC.
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	NOTE C-2 LENDER:
	

 	
 	

 	
 	

EUROHYPO AG, NEW YORK BRANCH
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

[signatures
continued on next page] 

	 	 	 	 	ADMINISTRATIVE AGENT:
	

 	
 	

 	
 	

EUROHYPO AG, NEW YORK BRANCH, as Administrative Agent
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	

 	
 	

 	
 	

By:	
 	

 

	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 

QuickLinks

MODIFICATION AGREEMENT (Long Form)QuickLinks
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Exhibit 10.59  

Douglas Emmett

1993, LLC  

 
  JOINDER AND SUPPLEMENT AGREEMENT    
    

        This JOINDER AND SUPPLEMENT AGREEMENT (this "Joinder Agreement") dated as
of                            , 2006,
is made and executed by Douglas Emmett 1993, LLC, a limited liability company organized under the laws of the State of Delaware (the "Borrower") and
BRENTWOOD PLAZA A CALIFORNIA LIMITED PARTNERSHIP (the "Co-Borrower"), and is made with reference to and is attached to that certain
Modification Agreement, of even date herewith (the "Modification Agreement"), which modifies that certain Loan Agreement dated as of August 25,
2005, as Modified by the Modification Agreement (as further Modified and in effect from time to time, the "Loan Agreement") by and among the Borrower,
the lenders from time to time party thereto (the "Lenders") and Eurohypo AG, New York Branch, as agent for the Lenders (together with its successors and
assigns, the "Administrative Agent"). Capitalized terms used herein and not otherwise defined have the meanings ascribed to such terms in the Loan
Agreement, as modified by the Modification Agreement. 

R E C I T A L S  

        WHEREAS, the Co-Borrower is the owner of a fee interest in the Brentwood Plaza Project (as such term is defined in the Supplement to Joinder Agreement
which is attached hereto and forms a part hereof (the "Joinder Supplement")) (the Co-Borrower's right, title and interests in and to the
foregoing project is referred to herein as the "Co-Borrower Project"); and 

        WHEREAS,
a portion of the proceeds of the Loans will be used to repay certain indebtedness of the Co-Borrower secured by the Co-Borrower Project and otherwise to
benefit Co-Borrower and the Co-Borrower Project; and 

        WHEREAS,
the Borrower and the Co-Borrower are affiliates, and the Borrower and the Co-Borrower will benefit from the provision of credit to the Borrower and the
Co-Borrower on the terms set forth in the Loan Agreement and the other Loan Documents. 

        NOW,
THEREFORE, THE BORROWER AND CO-BORROWER HEREBY AGREE AS FOLLOWS FOR THE BENEFIT OF THE ADMINISTRATIVE AGENT AND THE LENDERS, EFFECTIVE AT THE IPO CLOSING TIME
CONCURRENTLY WITH THE EFFECTIVENESS OF THE MODIFICATION AGREEMENT: 

        1.    Joinder and Assumption by Co-Borrower.    The Co-Borrower acknowledges and agrees to the
terms, conditions and provisions of the Loan Agreement and the other Loan Documents (as supplemented by this Joinder Agreement and the Joinder Supplement); agrees to become a co-borrower
under the Loan Agreement and the other Loan Documents (as supplemented by this Joinder Agreement and the Joinder Supplement) with liability thereunder (subject to the terms of the Loan Agreement,
including, without limitation, Section 14.23 of the Loan Agreement) joint and several with the Borrower; assumes, on a joint and several basis
with the Borrower, all of the agreements, acknowledgements, liabilities, indemnities and obligations of the "Borrower" under the Loan Agreement and the other Loan Documents (as supplemented by this
Joinder Agreement and the Joinder Supplement); makes all of the representations and warranties of and grants all of the rights, remedies and waivers granted by the "Borrower" under the Loan Agreement
and the other Loan Documents; agrees that the Administrative Agent and the Lender, shall have, with respect to the Co-Borrower and the Co-Borrower Project, all of the rights,
remedies, powers, privileges and immunities which they have with respect to the Borrower and the Projects under the Loan Agreement 

1

 

and
the Loan Documents; IN EACH OF THE FOREGOING CASES, as if (A) each reference in the Loan Agreement and the other Loan Documents to the "Borrower" or any "Borrower Party" or "Borrower
Parties" (except (i) references to such terms contained in the definitions in Section 1.01 of the Loan Agreement (except as expressly
provided in the Joinder Supplement), (ii) references to such terms contained in Loan Documents to which the Co-Borrower is not a party or has not assumed obligations thereunder
pursuant to this Agreement (including any Environmental Indemnity to which the Co-Borrower is not a party) and (iii) as otherwise expressly provided to the contrary in any of the
Loan Documents), shall include, in addition to the parties named therein, Co-Borrower, jointly and severally with the Borrower; (B) each reference in the Loan Agreement and the
other Loan Documents to any "Project" (including, without limitation, in any defined term therein, but excluding references to such term contained in any Environmental Indemnity to which the
Co-Borrower is not a party or any of the other Loan Documents to which the Co-Borrower is not a party or as otherwise expressly provided to the contrary in any of the Loan
Documents) shall, where the applicable context requires, mean and include both each Project and the Co-Borrower Project; and (C) each reference in the Loan Agreement and the other
Loan Documents (including, without limitation, any defined term therein) to any Loan Document shall mean any applicable Loan Document to which the Borrower or the Co-Borrower is a party,
if any. The Co-Borrower further agrees that an "Event of Default" shall occur with respect to the Co-Borrower if any Event of Default as defined in Article XII of the
Loan Agreement shall occur with respect to the Borrower or shall occur as if each reference to the "Borrower" contained in such Article XII included both the Borrower and the
Co-Borrower, individually and collectively. The Borrower agrees that it has joint and several liability for all of the Obligations of the Co-Borrower under the Loan Agreement,
as supplemented by this Joinder Agreement and the Joinder Supplement, and the other Loan Documents. 

        2.    Certain Terms and References.    

        (a)   All
references to "Borrower" in the definitions of the following terms shall include a reference both to the Borrower and the Co-Borrower, individually or
collectively, as the context shall require: 

          (i)  "Authorized
Officer" 

         (ii)  "Condemnation
Awards" 

        (iii)  "Environmental
Liens" 

        (iv)  "Excess
Cash" 

         (v)  "Excluded
Taxes" 

        (vi)  "GAAP" 

       (vii)  "Immaterial
Subsidiary" 

      (viii)  "Interest
Period" 

        (ix)  "Leases"

         (x)  "Loan" and "Loans" 

        (xi)  "Obligations" 

       (xii)  "Operating
Expenses" 

      (xiii)  "Operating
Income" 

      (xiv)  "Permitted
Liens" 

2

 

       (xv)  "Permitted Public REIT Transfer". In addition, the following sentence is hereby added at the end of the definition of
"Permitted Public REIT Transfer": Nothing in this definition or in Section 9.03(a)(iii) shall
prohibit the transfer by the Co-Borrower of the Co-Borrower Project owned by the Co-Borrower to Borrower or to a separate Qualified Successor Entity provided that,
in the case of a transfer to a Qualified Successor Entity, (i) the Borrower shall transfer the Projects owned by the Borrower to the same Qualified Successor Entity or to another Qualified
Successor Entity that qualifies as such pursuant to the same clause (i.e., clause (I), (II) or (III) of the definition of Qualified Successor Entity set forth in  Section 9.03(a)(iii)), or (ii) direct or indirect Equity Interests in the Borrower are transferred to a Person that controls, is
controlled by or is under common control with the Qualified Successor Entity to which the Co-Borrower Project is transferred and such transfer of Equity Interests is otherwise permitted by
this Agreement. 

      (xvi)  "Property
Management Agreement" 

     (xvii)  "Real
Estate Taxes" 

    (xviii)  "Rents"

      (xix)  "Transactions"

        (b)   The
references to "Borrower" in the definitions of each of the documents that comprise the Loan Documents and the Security Documents (including, without limitation,
"Cash Trap Account Security Agreement," "Deed of Trust" "Environmental Indemnity," "General Assignment," "Notes," "Project-Level Account Security Agreement" and "Property Manager's Consent") shall
include a reference both to the Borrower and the Co-Borrower, as the context shall require, such that all such documents delivered by the Borrower or the Co-Borrower pursuant
to the Loan Agreement or the Modification Agreement shall be included within the meanings of "Loan Documents" and "Security Documents." 

        (c)   All
references to "Borrower" in the following Sections of the Loan Agreement shall include a reference both to the Borrower and the Co-Borrower, individually
or collectively, as the context shall require: 

          (i)  Section 2.01 

         (ii)  Section 2.02

        (iii)  Section 2.04

        (iv)  Section 2.05

         (v)  Section 2.06

        (vi)  Section 2.08 

       (vii)  Section 2.09 

      (viii)  Section 2.10 

        (ix)  Section 4.01

         (x)  Section 4.02

        (xi)  Section 4.05

       (xii)  Section 4.06 

      (xiii)  Section 5.01 

      (xiv)  Section 5.02 

3

 

       (xv)  Section 5.04

      (xvi)  Section 5.06 

     (xvii)  Section 9.02 

    (xviii)  Section 14.05 

      (xix)  Section 14.13

       (xx)  Section 14.23

      (xxi)  Section 14.30

     (xxii)  Section 14.31

        3.    California Civil Code Section 2954.10 Waiver.    By initialing this provision where indicated below, the
Co-Borrower hereby makes each of the acknowledgments set forth in Section 2.06(d) of the Loan Agreement. By initialing this provision
where indicated below, the Co-Borrower waives any rights it may have under California Civil Code Section 2954.10, or any successor statute, and the Co-Borrower confirms
that the Lenders' agreement to make the Loans at the interest rate and on the other terms set forth in the Loan Agreement constitutes adequate and valuable consideration, given individual weight by
the Co-Borrower, for the prepayment provisions set forth in Section 2.06 of the Loan
Agreement and hereby waives its rights under California Civil Code Section 2954.10 as set forth in Section 2.06(d) of the Loan Agreement. 

	 	 	 
 Co-Borrower's Initials	 	 

        4.    Execution and Delivery of Documents by the Co-Borrower; Assumption of Notes and other
Obligations.    Without releasing the Borrower from any of its obligations thereunder, the Co-Borrower hereby assumes, jointly and severally with the
Borrower, all of the obligations of the Borrower under each of the Notes which evidence Loans advanced by each Lender or its predecessor in interest prior to the IPO Closing Time. Pursuant to the
Modification Agreement, the Borrower and the Co-Borrower shall jointly and severally execute the Additional Notes for each Lender, which shall evidence the amounts advanced by each Lender
on or subsequent to the IPO Closing Time. 

        5.    Joinder Supplement.    The provisions set forth in the Supplement to Joinder Agreement attached hereto as  Exhibit A are
made a part hereof and incorporated by reference herein. 

        6..    Suretyship Provisions.    

        6.1    Definitions and Background.    The Borrower and the Co-Borrower acknowledge that they will each
receive substantial benefits from the Lenders' extension of credit pursuant to the Loan Agreement to the Borrower and the Co-Borrower on the joint and several, cross-collateralized basis
provided for herein and in the Loan Documents, which benefits are reasonably equivalent consideration for their respective incurrence of liability on account of the Obligations arising under the Loan
Documents, and which benefits include, without limitation, the refinancing of certain existing indebtedness of the Borrower and the Co-Borrower and the ability to refinance that
indebtedness at a lower interest rate and otherwise on more favorable terms than would be available if the Projects owned by the Borrower and the Co-Borrower were being financed on a
stand-alone basis and not as part of a pool of assets comprising the security for the Obligations; and that each is joining in this Agreement, the Joinder and Supplement and the other Loan Documents
in consideration of those benefits. The parties to this Joinder Agreement acknowledge and agree that the intention of the parties is that both the Borrower and the Co-Borrower shall be
direct, primary, joint and several obligors with respect to all Obligations (except to the extent expressly provided to the contrary in this Joinder Agreement). However, in the event that for any
reason either the Borrower or the Co-Borrower (in such event, such party is referred 

4

 

to
herein as the "Secondary Obligor") is held or deemed to be a guarantor of or surety for the payment and performance of the obligations of the other
(in such event, such other party is referred to herein as the "Primary Obligor") under this Agreement, the Loan Agreement or any of the other Loan
Documents (such obligations are collectively referred to herein as the "Primary Obligor Obligations" and all documents evidencing, securing or relating
to the Primary Obligor Obligation are referred to herein as the "Primary Obligor Documents"), the Primary Obligor and Secondary Obligor hereby agree as
follows. 

        6.2    Rights of the Administrative Agent and Lenders.    Without modifying or otherwise limiting any of the Primary
Obligor's rights under the Loan Agreement or the other Loan Documents with respect to any or all of the following acts, the Secondary Obligor authorizes the Administrative Agent and the Lenders to
perform any or all of the following acts at any time in their sole discretion, all without notice to the Secondary Obligor and without affecting the rights of the Administrative Agent or the Lenders
or the Secondary Obligor's obligations under the Loan Agreement and the Loan Documents: 

        (a)   The
Administrative Agent or the Lenders may alter any terms of the Primary Obligor Obligations or any part thereof, including renewing, compromising, extending or
accelerating, or otherwise changing the time for payment of, or increasing or decreasing the rate of interest on, the Primary Obligor Obligations or any part thereof. 

        (b)   The
Administrative Agent or the Lenders may take and hold security for the Primary Obligor Obligations, accept additional or substituted security therefor, and
subordinate, exchange, enforce, waive, release, compromise, fail to perfect and sell or otherwise dispose of any such security. 

        (c)   The
Administrative Agent or the Lenders may direct the order and manner of any sale of all or any part of any security now or later to be held for the Primary Obligor
Obligations, and the Administrative Agent or the Lenders may also bid at any such sale. 

        (d)   The
Administrative Agent or the Lenders may apply any payments or recoveries from the Primary Obligor, the Secondary Obligor or any other source, and any proceeds of any
security, to the Primary Obligor Obligations in such manner, order and priority as the Administrative Agent or the Lenders may elect. 

        (e)   The
Administrative Agent or the Lenders may release the Primary Obligor from its liability for the Primary Obligor Obligations or any part thereof. 

        (f)    The
Administrative Agent or the Lenders may substitute, add or release any one or more guarantors or endorsers. 

        6.3    Obligations of Secondary Obligor to be Absolute.    The Secondary Obligor expressly agrees that, until all
Obligations have been paid and performed in full, the Secondary Obligor shall not be released by or because of: 

        (a)   Any
act or event which might otherwise discharge, reduce, limit or modify the Secondary Obligor's obligations under the Loan Agreement or the other Loan Documents; 

        (b)   Any
waiver, extension, modification, forbearance, delay or other act or omission of the Administrative Agent or the Lenders, or any failure to proceed promptly or
otherwise against the Primary Obligor, the Secondary Obligor or any security; 

        (c)   Any
action, omission or circumstance which might increase the likelihood that the Secondary Obligor may be called upon to perform under this Agreement or the other Loan
Documents or which might affect the rights or remedies of the Secondary Obligor against the Primary Obligor; or 

5

 

        (d)   Any
dealings occurring at any time between the Primary Obligor and the Administrative Agent or the Lenders, whether relating to the Primary Obligor Obligations or
otherwise. 

        The
Secondary Obligor hereby acknowledges that, absent this Section 5.3, the Secondary Obligor might have a defense to its Obligations as a result of one or more of the foregoing
acts, omissions, agreements, waivers or matters. The Secondary Obligor hereby expressly waives and surrenders any defense to any liability on account of its Obligations based upon any of such acts,
omissions, agreements, waivers or matters. 

        6.4    Waivers of Defenses.    The Secondary Obligor waives: 

        (a)   Any
right it may have to require the Administrative Agent or the Lenders to proceed against the Primary Obligor, proceed against or exhaust any security held from the
Primary Obligor, or pursue any other remedy in the Administrative Agent's or Lenders' power to pursue; 

        (b)   Any
defense based on any claim that the Secondary Obligor's obligations exceed or are more burdensome than those of the Primary Obligor; 

        (c)   Any
defense based on: (i) any legal disability of the Primary Obligor; (ii) any release, discharge, modification, impairment or limitation of the liability
of the Primary Obligor to the Administrative Agent or the Lenders from any cause, whether consented to by the Administrative Agent or the Lenders or arising by operation of law or from any bankruptcy
or other voluntary or involuntary proceeding, in or out of court, for the adjustment of debtor-creditor relationships ("Insolvency Proceeding") and
(iii) any rejection or disaffirmance, of the Primary Obligor Obligations, or any part thereof, or any security held therefor, in any such Insolvency Proceedings; 

        (d)   Any
defense based on any action taken or omitted by the Administrative Agent or the Lenders in any Insolvency Proceeding involving the Primary Obligor, including any
election to have their claim allowed as being secured, partially secured or unsecured, any extension of credit by the Administrative Agent or the Lenders to the Primary Obligor in any Insolvency
Proceeding and the taking and holding by the Administrative Agent or the Lenders of any security for any such extension of credit; 

        (e)   All
presentments, demands for performance, notice of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of the Obligations and of
the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind, but only in Secondary Obligor's capacity as Secondary Obligor and not in its capacity as
Primary Obligor or as otherwise provided in the Loan Documents; and 

        (f)    Any
defense based on or arising out of any action of the Administrative Agent or the Lenders described in Sections 5.2 or 5.3 above, subject to the provisions of
Section 5.2 and 5.3 above. 

        6.5    Impairment of Subrogation Rights.    

        (a)   Upon
an Event of Default by the Primary Obligor, the Administrative Agent in its sole discretion, without prior notice (except as required by the Loan Documents or
Applicable Law) to or consent of the Secondary Obligor, may elect to foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Primary Obligor
Obligations, or accept a transfer of any such security in lieu of foreclosure, or compromise or adjust the Primary Obligor Obligations or any part thereof or make any other accommodation with the
Primary Obligor, or exercise any other remedy against the Primary Obligor or any security. No such action by the Administrative Agent shall release or limit the liability of the Secondary Obligor, who
shall, subject to the provisions of Section 14.23(a) of the Loan Agreement, remain liable for the Obligations after the action, even if the
affect of the action is to deprive the Secondary Obligor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from the 

6

 

Primary
Obligor for any sums paid to the Administrative Agent or any Lender, whether contractual or arising by operation of law or otherwise. The Secondary Obligor expressly agrees that under no
circumstances shall it be deemed to have any right, title, interest or claim in or to any real or personal property held by the Administrative Agent or any third party after any foreclosure or
transfer in lieu of foreclosure of any security for the Primary Obligor Obligations. 

        (b)   Regardless
of whether the Secondary Obligor may have made any payments to the Administrative Agent or the Lenders, the Secondary Obligor hereby waives: (i) all
rights of subrogation, indemnification, contribution and any other rights to collect reimbursement from the Primary Obligor or any other party for any sums paid to the Administrative Agent or the
Lenders whether contractual or arising by operation of law (including, without limitation, under Sections 2847 or 2848 of the California Civil Code, under any provisions of the United States
Bankruptcy Code, or any successor or similar statutes) or otherwise, (ii) all rights to enforce any remedy that the Administrative Agent or the Lenders may have against the Primary Obligor, and
(iii) all rights to participate in any security now or later held by the Administrative Agent or the Lenders for the Primary Obligor Obligations. The Secondary Obligor further agrees that, to
the extent the foregoing waiver is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement, contribution and indemnification the
Secondary Obligor may have against the Primary Obligor or against any collateral or security, shall be junior and subordinate to any rights the Administrative Agent or the Lenders may have against the
Primary Obligor, and to all right, title and interest the Administrative Agent or the Lenders may have in any such collateral or security. If any amount shall be paid to the Secondary Obligor on
account of any such subrogation, reimbursement, contribution or indemnification rights at any time when all the Primary Obligor Obligations have not been paid in full, such amount shall be held in
trust by the Secondary Obligor and shall forthwith be paid over to the Administrative Agent to be credited and applied against the Primary Obligor Obligations, whether matured or unmatured, in
accordance with the terms of the Primary Obligor Documents. The waivers given in this Section 5.5(b) shall be effective until the Primary Obligor Obligations have been paid and performed in
full. 

        (c)   The
Secondary Obligor understands and acknowledges that, if the Administrative Agent forecloses judicially or nonjudicially against any real property security for the
Primary Obligor Obligations, that foreclosure could impair or destroy the ability that the Secondary Obligor may have to seek reimbursement, contribution or indemnification from the Primary Obligor.
The Secondary Obligor further understands and acknowledges that in the absence of this Section 5.5, such potential impairment or destruction of the Secondary Obligor's rights, if any, may
entitle the Secondary Obligor to assert a defense to its liability on account of the Obligations based on Section 580d of the California Code of Civil Procedure as interpreted in  Union Bank v. Gradsky, 286 Cal.App.2d 40 (1968). The Secondary Obligor freely, irrevocably and unconditionally: (i) waives and relinquishes that
defense and agrees that the Secondary Obligor will be fully liable for the Obligations even though the Administrative Agent may foreclose judicially or nonjudicially against any real property security
for the Primary Obligor Obligations; (ii) agrees that the Secondary Obligor will not assert that defense in any action or proceeding which the Administrative Agent may commence to enforce the
Secondary Obligor's liability on account of the Obligations, (iii) acknowledges and agrees that the rights and defenses waived by the Secondary Obligor hereunder on account of the Primary
Obligor Obligations include any right or defense that the Secondary Obligor may have or be entitled to assert based upon or arising out of any one or more of Sections 580a, 580b or 726 of the
California Code of Civil Procedure or Section 2848 of the California Civil Code; and (iv) acknowledges and agrees that the Lenders are relying on this waiver in extending the credit to
the Primary Obligor and the Secondary Obligor, and that this waiver is a material part of the consideration which the Administrative Agent and the Lenders are receiving for providing the credit
facilities under the Loan Agreement to the Primary Obligor. 

7

 

        (d)   The
Secondary Obligor waives any rights and defenses that are or may become available to the Secondary Obligor on account of the Primary Obligor Obligations by reason of
Sections 2787 to 2855, inclusive, of the California Civil Code. 

        (e)   The
Secondary Obligor waives all rights and defenses that the Secondary Obligor may have because the Primary Obligor Obligations are secured by real property. This
means, among other things, (i) the Lender may collect from the Secondary Obligor and pursue any real or personal property pledged by the Secondary Obligor without first foreclosing on any real
or personal property collateral pledged by the Primary Obligor; (ii) the amount of the Obligations for which Secondary Obligor is liable may be reduced only by the price for which that
collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price; and (iii) the Administrative Agent and the Lenders may collect from the Secondary Obligor
even if the Administrative Agent, by foreclosing on the real property collateral, has destroyed any right the Secondary Obligor may have to collect from the Primary Obligor. This is an unconditional
and irrevocable waiver of any rights and defenses the Secondary Obligor may have because the Primary Obligor Obligations are secured by real property. These rights and defenses include, but are not
limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the Code of Civil Procedure. In addition, Secondary Obligor waives all rights and defenses arising out of an
election of remedies by the Administrative Agent or the Lenders, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the guaranteed obligation, has
destroyed the Secondary Obligor's rights of subrogation and reimbursement against the Primary Obligor by the operation of Section 580d of the Code of Civil Procedure or otherwise. 

        6.6    Revival and Reinstatement.    If the Administrative Agent or any Lender is required to pay, return or restore
to the Primary Obligor or any other person any amounts previously paid on the Primary Obligor Obligations because of any Insolvency Proceeding of the Primary Obligor, any stop notice or any other
reason, the obligation of the Secondary Obligor shall be reinstated and revived and the rights of the Administrative Agent and the Lenders shall continue with regard to such amounts, all as though
they had never been paid. 

        6.7    The Primary Obligor's Financial Condition.    The Secondary Obligor assumes full responsibility for keeping
informed of the Primary Obligor's financial condition and business operations and all other circumstances affecting the Primary Obligor's ability to pay and perform its obligations to the
Administrative Agent, and agrees that the Administrative Agent shall have no duty to disclose to the Secondary Obligor any information which the Administrative Agent may receive about the Primary
Obligor's financial condition, business operations, or any other circumstances bearing on its ability to perform. 

        6.7    Intent of Waivers.    The waivers and other provisions of this Section 5 are made by the Secondary
Obligor solely for itself and not on behalf of the Primary Obligor. Furthermore, the waivers and other provisions of this Section 5 are made by the Secondary Obligor solely in its capacity as a
Secondary Obligor and not in its capacity as a Primary Obligor. Nothing herein is intended to, or shall, modify, or constitute a waiver or surrender by the Secondary Obligor of, any right, remedy or
defense that would otherwise be available to the Secondary Obligor on account of its Obligations in its capacity as a Primary Obligor. 

        7.    Miscellaneous.    For all purposes of the Loan Agreement and the other Loan Documents, this Joinder Agreement
and the Joinder Supplement are "Loan Documents." The Loan Agreement contains certain provisions which apply to the Loan Documents, and those provisions apply to this Joinder Agreement and the Joinder
Supplement, and are incorporated herein by this reference. Those incorporated provisions include, without limitation, those relating to manner of delivering notice, certain waivers (including waiver
of jury trial), submission to jurisdiction, the Borrower's and Co-Borrower's responsibility for certain expenses, severability, manner for amendment and modification 

8

 

of
this Agreement, governing law and other matters. This Joinder Agreement may be executed in any number of counterparts, each of which shall be an original, and all of which, when taken together,
shall constitute one and the same agreement. Delivery of an executed signature page of this Joinder Agreement by facsimile transmission shall be effective as delivery of a manually executed
counterpart hereof. 

        8.    Limitation of Liability.    The provisions of  Section 14.23(a) of the Loan Agreement shall apply to the terms of this
Joinder Agreement. All references to the "Borrower" in  Section 14.23 of the Loan Agreement shall mean the Borrower and each Co-Borrower, individually or collectively,
as the context shall require. Also, if Co-Borrower is a limited partnership, all references in Section 14.23(a) of the Loan Agreement
to "manager" or "member" shall mean "general and/or limited partner." 

[signatures
appear on the next page] 

9

 

        IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

	 	 	DOUGLAS EMMETT 1993, LLC, a Delaware limited liability company
	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, INC., a Delaware corporation, its Manager
	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer
	

 	
 	

BRENTWOOD PLAZA A CALIFORNIA LIMITED PARTNERSHIP, a California limited partnership
	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, LLC, a Delaware limited liability company, its General Partner
	

 	
 	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, INC., a Delaware corporation, its Manager
	

 	
 	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer

10

SUPPLEMENT TO JOINDER AGREEMENT  

        This SUPPLEMENT TO JOINDER AGREEMENT (this "Supplement") is attached to and forms a part of the JOINDER AND
SUPPLEMENT AGREEMENT (the "Joinder Agreement") dated as
of                            , 2006, executed by BRENTWOOD PLAZA A CALIFORNIA LIMITED
PARTNERSHIP (the "Co Borrower") and Douglas Emmett 1993, LLC, a limited liability company organized under the laws of the State of Delaware (the
"Borrower") for the benefit of Eurohypo AG, New York Branch, as Administrative Agent, and the Lenders from time to time party to that certain Loan
Agreement dated as of August 25, 2005, as Modified by that certain Modification Agreement, of even date herewith (the "Modification Agreement"), and as
further Modified and in effect from time to time, the "Loan Agreement"). Capitalized terms used but not defined herein shall have the meanings assigned
them in the Loan Agreement as modified by the Modification Agreement, and the Joinder Agreement. 

        IN
ADDITION TO AND WITHOUT LIMITING THE COVENANTS AND REPRESENTATIONS AND WARRANTIES OF BORROWER AND CO-BORROWER CONTAINED IN THE JOINDER AGREEMENT AND THE LOAN AGREEMENT,
BORROWER AND CO-BORROWER FURTHER AGREE AS FOLLOWS: 

        1.    Modifications to the Loan Agreement.    The Loan Agreement is hereby Modified as follows: 

        (a)   The
RECITALS shall be supplemented as follows: 

        "The
Co-Borrower is the owner of a fee simple interest in and to that certain office building listed in  Schedule 1A-1 attached to the Supplement attached to the New Co-Borrower's Joinder and Supplement
known as the Brentwood
Plaza Project, in the City of Los Angeles, County of Los Angeles, State of California, on certain land more fully described in  Schedule 1B-1 attached to the Supplement attached to the New
Co-Borrower's Joinder and Supplement (the
"Brentwood Plaza Project") (the rights of the Co-Borrower with respect to such building and to the land on which each such building is
located, together with the rights of the Co-Borrower with respect to any air rights and other rights, privileges, easements, hereditaments and appurtenances thereunto relating or
appertaining thereto, all Improvements thereon, together with all fixtures and equipment required for the operation thereof, all personal property related to the foregoing and all other items
described in the granting clause of the Deed of Trust relating to such building and interest in land are included within the term "Project" as defined
in the Loan Agreement). 

        (b)   The
following new definitions shall be added to the Loan Agreement: 

          (i)  ""Brentwood Plaza Project" has the meaning assigned to such term in the  Recitals as supplemented by the Supplement to Joinder Agreement attached to the New Co-Borrower's
Joinder and Supplement."; 

         (ii)  Reserved.

        (iii)  Reserved.

        (c)   The
following definitions shall be Modified as set forth below: 

          (i)  The
following sentence is added to the definition of Authorized Officer: "Authorized Officer," in the case of a Co-Borrower who is a limited partnership,
shall mean any of the individual officers serving as the Chief Executive Officer, President, Vice President, Chief Financial Officer, Secretary, Treasurer or Assistant Treasurer of New General
Partner, in its capacity as the general partner of Co-Borrower, and whose name appears on a certificate of incumbency executed by the Secretary of New Borrower's Manager, in its respective
capacity as the manager of Borrower and/or the manager of New General Partner, and delivered concurrently with the effectiveness of the Modification Agreement, as such certificate of incumbency may be
amended from time to time to identify the names of the individuals then 

holding
such offices and certified by the Secretary of New Borrower's Manager, in its respective capacity as the manager of Borrower and/or the manager of New General Partner. 

         (ii)  "The
definition of Obligations shall not, with respect to any Co-Borrower, include the Obligations of Borrower or any other Co-Borrower under
any Environmental Indemnity to which the Co-Borrower is not a party. 

        (d)   The
following Sections shall be Modified as follows: 

          (i)  Add
the following sentences to the end of Section 7.10: "The sole limited partner of Co-Borrower on
the date hereof is the OP. The sole general partner of Co-Borrower on the date hereof is New General Partner." 

        (e)   Reserved. 

[signatures
appear on the next page] 

        IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

	 	 	DOUGLAS EMMETT 1993, LLC, a Delaware limited liability company
	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, INC., a Delaware corporation, its Manager
	

 	
 	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer
	

 	
 	

BRENTWOOD PLAZA A CALIFORNIA LIMITED PARTNERSHIP, a California limited partnership
	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, LLC, a Delaware limited liability company, its General Partner
	

 	
 	

 	
 	

By:	
 	

DOUGLAS EMMETT MANAGEMENT, INC., a Delaware corporation, its Manager
	

 	
 	

 	
 	

 	
 	

By:	
 	

 
 William Kamer
 Chief Financial Officer

QuickLinks

JOINDER AND SUPPLEMENT AGREEMENT

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