Document:

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                                                              EXHIBIT 10.22(a)

                 FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
                            WITH ESCROW INSTRUCTIONS

          This FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT WITH ESCROW
INSTRUCTIONS (the "Amendment") is dated as of November 29, 2000, by and between
PACIFICA CALIFORNIA/APOLLO, LLC, a California limited liability company
("Seller"), and SKECHERS USA, INC., a Delaware corporation ("Buyer"), with
reference to the following facts:

                                    RECITALS

          A. Buyer and Seller entered into that certain Purchase and Sale
Agreement with Escrow Instructions dated November 13, 2000 (the "Agreement").

          B. Buyer and Seller hereby desire to modify the Agreement in
accordance with the terms and conditions set forth herein.

          NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Buyer and Seller agree as follows:

          1. INDEMNIFICATION BY SELLER. Seller hereby agrees to indemnify,
defend and hold harmless Buyer from and against any and all damages, losses and
expenses incurred by Buyer as a direct result of (i) the improper collection by
Seller of operating expense payments from any tenants of the Property at any
time prior to the Close of Escrow (but only to the extent (A) of operating
expense overcharges by Seller to tenants during the calendar year 2000, or (B)
no operating expense payments whatsoever were actually due and owing by such
tenants under their respective leases to Seller for such period); and (ii)
without limiting Buyer's obligations under Paragraph 11.6(f) of the Agreement,
Seller's failure to pay any brokerage commissions relating to leases entered
into prior to November 1, 2000 which remain due and owing and unpaid as of the
Closing. The indemnifications set forth in this paragraph 1 shall survive the
recordation of the Deed and the Closing for a period of twelve (12) months.

          2. COMMISSIONS. Notwithstanding the terms of Paragraph 11.6(f) of the
Agreement to the contrary, Buyer shall have no obligation to pay a brokerage
commission to Leonard & Ohren as representatives of the landlord in connection
with any future expansions lease renewals or rent increases which occur after
the Closing, provided that (i) Buyer shall remain obligated to pay such
commissions to Leonard & Ohren in connection with the lease of Suite 290 [to
Multaler] and Suite 240 [to Buyer], and (ii) Leonard & Ohren shall be entitled
to any such commissions in connection with its representation of any tenant(s)
at the Property.

          3. SERVICE CONTRACTS. Paragraph 7.1 of the Agreement is hereby
modified by the addition of the following paragraph:

          "7.1.16 Service Contracts. To Seller's knowledge, other than the
          service contracts provided to Buyer as part of the Due Diligence
          Materials or otherwise

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          delivered to Buyer on or before November 29, 2000, there are no
          service contracts relating to the Property which are not terminable on
          30 days (or less notice."

          4. TERMINATION OF CONTRACTS. Seller agrees to cause any brokerage
listing agreement with Leonard & Ohren and any management agreement relating to
the Property to be terminated effected as of the Close of Escrow.

          5. SELLER'S DEPOSITS. Without limiting the terms of Paragraph 11.3(g)
of the Agreement, Seller agrees to deposit into Escrow or otherwise deliver to
Buyer as of the Closing originals of all files in Seller's possession which
relate to the Property (excepting therefrom tax returns, appraisals, analysis,
reports or other records which are of a confidential or proprietary nature).

          6. BUYER'S CONTINGENCIES. Buyer acknowledges that the Due Diligence
Period has expired and that Buyer has not elected to terminate the Agreement in
accordance with Paragraphs 5.1, 5.2 or 9.1, except that Buyer shall continue to
have the rights set forth in Section 5.2 with respect to any additional title
exceptions set forth in any supplemental title reports.

          7. DEFINED TERMS. Except as expressly defined herein, all capitalized
terms used in this Amendment shall have the meanings given to them in the
Agreement.

          8. COUNTERPARTS. This Amendment may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which, when
taken together, shall constitute one and same instrument.

          9. NO FURTHER MODIFICATION. Except as expressly amended hereby, the
Agreement shall remain unchanged and continue in full force and effect.

          10. FACSIMILE. Each party hereto, and their respective successors and
assigns shall be authorized to rely upon the signatures of all of the parties
hereto on this Amendment which are delivered by facsimile as constituting a duly
authorized, irrevocable, actual current delivery of this Amendment with original
ink signatures of each person and entity; provided, however, that each party
hereto that delivers such facsimile signatures to another party hereto,
covenants and agrees that it shall deliver an executed original of the same to
the party(ies) so receiving the previous facsimile signatures within ten (10)
days after the delivery of such facsimile signatures.

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          IN WITNESS WHEREOF, Seller and Buyer have executed this Amendment as
of the date first set forth above.

SELLER:                                      BUYER:

PACIFICA CALIFORNIA/APOLLO,                  SKECHERS USA, INC., a Delaware
LLC, a California limited liability          corporation
company

By:  /s/ ILLEGIBLE                           By:  /s/ PHILIP PACCIONE
   ----------------------------------------       -----------------------------
Name:  11/30/00                              Name:  Philip Paccione
     --------------------------------------       -----------------------------
Its:   Member/Mgr                            Its:   General Counsel
      -------------------------------------       -----------------------------

                                             By:  /s/  DAVID WEINBERG
                                                  -----------------------------
                                             Name:  David Weinberg
                                                  -----------------------------
                                             Its:   CFO
                                                  -----------------------------

                                       3<PAGE>   1

                                                                   EXHIBIT 10.23

[LOAN NO. 3587665-5]

     (NOTE: THIS PROMISSORY NOTE MAY REQUIRE A BALLOON PAYMENT AT MATURITY)

                                 PROMISSORY NOTE

$10,850,000(U.S.)                                           STOCKTON, CALIFORNIA
                                                               DECEMBER 27, 2000

       FOR VALUE RECEIVED, the undersigned ("Borrower") promises to pay to the
order of WASHINGTON MUTUAL BANK, FA, a federal association, at its office at 400
East Main Street, STA3MLM, Stockton, California 95290, Attention: Commercial
Real Estate Asset Management, or at such other place as the holder of this Note
(hereinafter, "holder") may from time to time designate in writing, the sum of
TEN MILLION EIGHT HUNDRED FIFTY THOUSAND DOLLARS ($10,850,000) in lawful money
of the United States, with interest thereon from the date of this Note until
paid at the rates set forth below, computed on monthly balances. Interest for
each full calendar month during the term of this Note shall be calculated on the
basis of a 360-day year and twelve 30-day months. Interest for any partial
calendar month at the beginning or end of the term of this Note shall be
calculated on the basis of a 360-day year and the actual number of days in that
month.

       SECTION 1. INTEREST RATE.

       The per annum interest rate hereunder (the "Note Rate") shall be seven
and seventy-nine one-hundredths percent (7.79%).

       SECTION 2. MONTHLY PAYMENTS.

       Beginning on February 1, 2001 and on the first day of each and every
calendar month thereafter throughout the term of this Note (the "Monthly Payment
Dates"), Borrower shall make monthly payments of principal and interest (the
"Monthly Payment Amounts") to holder in the amount of Eighty-Two Thousand Two
Hundred Thirty-Eight and 31/100 Dollars ($82,238.31).

       SECTION 3. MATURITY.

       Unless sooner repaid by Borrower, the entire unpaid principal balance of
this Note, plus all accrued but unpaid interest, and all other amounts owing
hereunder or under the Security Documents (as defined in Section 7) shall be due
and payable in full on January 1, 2011 (the "Maturity Date").

                                      -1-
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       SECTION 4. APPLICATION OF PAYMENTS.

       Payments shall be applied: (a) first, to the payment of accrued interest;
(b) second, at the option of holder, to the payment of any other amounts owing
under this Note or secured by the Security Documents, other than accrued
interest and principal, including, but not limited to advances holder may have
made for attorneys' fees or for taxes, assessments, insurance premiums, or other
charges on any property given as security for this Note and late charges due
hereunder; and (c) third, to the reduction of principal of this Note.

       SECTION 5. PREPAYMENT.

       Borrower may prepay its obligation under this Note in full upon thirty
(30) days' prior written notice to holder, or in part on any Monthly Payment
Date, upon payment of a premium (the "Prepayment Premium") equal to the greater
of:

              (a) the "Present Value Premium" (as defined below); or

              (b) one percent (1%) of the amount prepaid.

       The "Present Value Premium" is the present value, as of the date of
prepayment, of a stream of monthly interest payments for the period remaining to
the Maturity Date of this Note, computed on the basis of (a) the amount prepaid
and (b) an interest rate equal to the amount, if any, by which (i) the Note Rate
exceeds (ii) the "Reinvestment Rate" (as defined below). Each of such monthly
interest payments shall be discounted to present value at the "Reinvestment
Rate" from the applicable Monthly Payment Date to the date of prepayment.

       The "Reinvestment Rate" shall be based on the weekly average treasury
constant maturity yields reported in Federal Reserve Statistical Release H.15
(519), Selected Interest Rates ("Publication H.15"). The figures in the most
recent edition of Publication H.15 available as of the prepayment date that
appear in the column for the week ending immediately preceding the date of such
edition shall be used for purposes of the Reinvestment Rate calculation. The
Reinvestment Rate shall be the yield adjusted to constant maturities stated in
Publication H.15 for the United States government security having a maturity
that most closely corresponds to the Maturity Date of this Note, determined by
linear interpolation between the yields reported in Publication H.15, if
necessary.

       Holder may, in its reasonable discretion, select a comparable alternative
source of the Reinvestment Rate if Publication H.15 ceases to be available, or
if the method of calculating treasury constant maturity yield figures set forth
therein changes so as to substantially impact the calculation of the
Reinvestment Rate.

       Borrower expressly waives any right to prepay this Note except as
provided in this Section 5. Therefore, if the maturity of this Note is
accelerated for any reason, including, without limitation, the occurrence of any
event of default hereunder or under the Deed of Trust (as defined in Section 7),
including without limitation Section 4.13 of the Deed of Trust,

                                      -2-
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or any other document that evidences or secures the repayment of this Note, then
any subsequent tender of payment of this Note, including any redemption
following foreclosure of the Deed of Trust, shall constitute an evasion of the
restrictions on prepayment set forth herein and shall be deemed a voluntary
prepayment. Accordingly, holder may impose as a condition to accepting any such
tender, and may bid at any sheriff's or trustee's sale under the Deed of Trust,
and/or include in any complaint for judicial foreclosure or for any claim in
bankruptcy, as part of the indebtedness evidenced by this Note and secured by
the Deed of Trust, the Prepayment Premium that would have otherwise been payable
hereunder for prepayment of this Note occurring on the date of such
acceleration. The Prepayment Premium will not be payable for prepayment of this
Note occurring as a result of the application of insurance and condemnation
proceeds to the reduction of the unpaid principal balance of this Note.

       Borrower acknowledges that: (i) it is a knowledgeable real estate
investor, (ii) it fully understands the effect of the above waiver, (iii) the
making of the loan evidenced by this Note at the interest rates set forth above
is sufficient consideration for such waiver, and (iv) holder would not make the
loan evidenced by this Note without such waiver.

       Borrower acknowledges that any statement made by holder setting forth the
amount of the Prepayment Premium shall only be binding upon holder if such
statement is made in writing and that the amount of the Prepayment Premium set
forth in such statement is subject to change and is valid only for the date of
such statement.

       Borrower hereby expressly waives any right it may have under California
Civil Code 2954.10 to prepay this Note, in whole or in part, without prepayment
charge, upon acceleration of the Maturity Date of this Note, and agrees that if
for any reason a prepayment of any or all of this Note is made, whether
voluntarily or upon or following any acceleration of the Maturity Date of this
Note by holder, Borrower shall pay the Prepayment Premium calculated pursuant to
this Section 5. By signing this provision in the space provided below, Borrower
hereby declares and agrees that holder's agreement to make the loan evidenced by
this Note at the Note Rate and for the term set forth in this Note constitutes
adequate consideration, given individual weight by Borrower, for this waiver and
agreement.

                                   SKECHERS U.S.A., INC., a Delaware corporation

                                   By
                                        ----------------------------------------
                                        Michael Greenberg, President

                                   By   /s/ PHILIP C. PACCIONE
                                        ----------------------------------------
                                        Philip G. Paccione, General Counsel and
                                        Secretary

                                      -3-
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       SECTION 6. LATE CHARGE.

       If any amount payable hereunder is paid more than ten (10) business days
after the due date thereof, Borrower promises to pay a late charge of five
percent (5%) of the delinquent amount as liquidated damages for the extra
expense in handling past due payments.

       SECTION 7. SECURITY.

       This Note is secured by a deed of trust, security agreement, assignment
of leases and rents, and fixture filing (the "Deed of Trust") of even date
herewith and executed by Borrower, encumbering real property located in Los
Angeles County, California, and by an assignment of leases and rents (the
"Assignment of Leases and Rents") made by Borrower as assignor in favor of
Lender as assignee. The Deed of Trust, the Assignment of Leases and Rents and
any and all other documents securing this Note are collectively referred to as
the "Security Documents," provided, however, that "Security Documents"
specifically shall not mean and shall not include the certificate and indemnity
agreement regarding hazardous substances being delivered concurrently herewith
to holder by Borrower (the "Indemnity Agreement"). The real property and the
other collateral provided for in the Security Documents are collectively
referred to as the "Property."

       SECTION 8. NOTICE AND OPPORTUNITY TO CURE DEFAULTS.

       Any provision of this Note or the Security Documents seemingly to the
contrary notwithstanding, holder agrees not to exercise any of the remedies for
default permitted hereunder or under the Security Documents unless and until:

              (a) If the default consists of the violation of a covenant to pay
money (other than the covenant to repay the balance due hereunder at maturity),
holder has given Borrower at least ten (10) business days' written notice of
such default and such default has not been cured within ten (10) business days
after the receipt of such written notice; or

              (b) If the default consists only of a violation of any provision
of this Note or the Security Documents other than a covenant to pay money or a
covenant to obtain or renew insurance policies or pay insurance premiums as
required by the Deed of Trust unless and until holder has given Borrower thirty
(30) days' written notice of such default and such default has not been cured
within such thirty (30) day period, provided that if the default is one which
can be cured, but for causes beyond the reasonable control of Borrower cannot
with due diligence be cured within such thirty (30) day period, and provided
further that no monetary default occurs while the cure period continues for the
subject nonmonetary default, such thirty (30) day period shall be deemed
extended for such time as is necessary to cure the default (but in no event
longer than ninety (90) days from the date of default) if Borrower gives notice
of its intent to cure or cause such default to be cured prior to the expiration
of the initial thirty (30) day cure period, thereafter proceeds promptly with
and prosecutes with all due diligence all steps necessary to cure the same, and
provides such written status reports to

                                      -4-
<PAGE>   5

holder regarding the progress of such cure as holder may reasonably request from
time to time while such cure progresses.

       Nothing contained in this Section 8 shall be construed as imposing any
obligation on holder other than to postpone the exercise of its remedies for
default until the expiration of the applicable grace period, if any, specified
herein. Failure to give opportunity to cure defaults in the manner herein
provided shall not in any way invalidate or prohibit holder from exercising any
of the remedies for default permitted hereunder or under the Security Documents
(other than to prohibit holder from proceeding further until the applicable
grace period, if any, for the curing of such default has expired), or give rise
to liability for damages suffered by Borrower or any other party on account of
such failure.

       The provisions of subparagraph (a) of this Section 8 shall not affect
Borrower's liability for late charges under Section 6 with respect to any
payment that is more than ten (10) days past due.

       SECTION 9. DEFAULT; REMEDIES.

       If default is made in the payment of any amount payable hereunder when
due or in the keeping of any covenant of the Security Documents and such default
is not cured as provided in Section 8 hereof, then, at the option of holder, the
entire indebtedness evidenced hereby shall become immediately due and payable.
Upon default, and without notice or demand, all amounts owed under this Note,
including all accrued but unpaid interest, shall thereafter bear interest at the
rate of five percent (5%) per annum above the Note Rate (the "Default Rate")
until such default is cured. Failure to exercise any option granted to holder
hereunder shall not waive the right to exercise the same in the event of any
subsequent default. Interest at the Default Rate shall commence to accrue upon
default under this Note, including the failure to pay this Note at maturity.

       SECTION 10. ATTORNEYS' FEES.

       In the event of any default under this Note, or in the event that any
dispute arises relating to the interpretation, enforcement, or performance of
this Note, holder shall be entitled to collect from Borrower on demand all
reasonable fees and expenses incurred in connection therewith, including but not
limited to fees of attorneys, accountants, appraisers, environmental inspectors,
consultants, expert witnesses, arbitrators, mediators, and court reporters.
Without limiting the generality of the foregoing, Borrower shall pay all such
costs and expenses incurred in connection with: (a) arbitration or other
alternative dispute resolution proceedings, trial court actions, and appeals;
(b) bankruptcy or other insolvency proceedings of Borrower, any guarantor or
other party liable for any of the obligations of this Note or any party having
any interest in any security for any of those obligations; (c) judicial or
nonjudicial foreclosure on, or appointment of a receiver for, any property
securing this Note; (d) postjudgment collection proceedings; (e) all claims,
counterclaims, cross-claims, and defenses asserted in any of the foregoing
whether or not they arise out of or are related to

                                      -5-
<PAGE>   6

this Note or any security for this Note; (f) all preparation for any of the
foregoing; and (g) all settlement negotiations with respect to any of the
foregoing.

       SECTION 11. SALE, TRANSFER OR ENCUMBRANCE OF PROPERTY.

       The Deed of Trust contains the following provision, by which Borrower
agrees to be bound (in such provision, the term "Trustor" means Borrower and
"Beneficiary" means holder):

              4.13 SALE, TRANSFER, OR ENCUMBRANCE OF PROPERTY. Trustor shall
       not, without the prior written consent of Beneficiary, sell, transfer or
       otherwise convey the Property or any interest therein, further encumber
       the Property or any interest therein, cause or permit any change in the
       entity, ownership or control of Trustor or agree to do any of the
       foregoing without first repaying in full the Note and all other sums
       secured hereby.

              Consent to any one such occurrence shall not be deemed a waiver of
       the right to require consent to any future occurrences.

              In each instance in which a sale, transfer or other conveyance of
       the Property occurs and regardless of whether Beneficiary's consent
       thereto is given, waived or denied or whether Beneficiary elects to
       accelerate the maturity date of the Note, Trustor and its successors
       shall be jointly and severally liable to Beneficiary for the payment of a
       transfer fee (the "Transfer Fee") of one percent (1.00%) of the unpaid
       principal balance of the Note as of the date of such sale, transfer or
       other conveyance. Such fee shall be payable on demand, shall bear
       interest from ten (10) days after such demand to and including the date
       of collection at the Default Rate (as defined in the Note), and shall be
       secured by this Trust Deed. Beneficiary's waiver of such fee in whole or
       in part for any one sale, transfer or other conveyance shall not preclude
       the imposition thereof in any other transaction.

              Notwithstanding the foregoing, Beneficiary's consent will not be
       required, and the one percent (1.00%) Transfer Fee will not be imposed,
       for the transfer of the publicly held shares of stock of Trustor, or for
       the transfer of any of the privately held shares of stock of Trustor so
       long as Robert Greenberg retains Control (as defined below) of Trustor.

              Also notwithstanding the foregoing, Beneficiary will not
       unreasonably withhold its consent, and upon granting of such consent will
       not require payment of the one percent (1.00%) transfer fee, to a
       one-time transfer of the Property by Trustor to an Affiliate of Trustor,
       provided, however, that Trustor must notify Beneficiary in writing of
       such proposed transfer and the identity of the proposed transferee at
       least 30 days before the anticipated transfer; shall provide Beneficiary
       with such financial information regarding the proposed transferee as

                                      -6-
<PAGE>   7

       Beneficiary may reasonably require, which information must be
       satisfactory to Beneficiary in its discretion; and shall provide
       Beneficiary, at Trustor's expense, with an endorsement to Beneficiary's
       mortgagee's policy of title insurance insuring the lien hereof, insuring
       that such transfer does not affect the validity or priority of the lien
       hereof. In addition, Beneficiary may require that the prospective
       transferee execute and deliver to Beneficiary an assumption agreement
       with respect to the loan hereby secured. In no event shall Beneficiary's
       consent to a transfer of title be deemed a release of the original
       Trustor identified herein from its liability for repayment of the Note
       and for performance of the other obligations of such Trustor under the
       Loan Documents. For purposes hereof, an "Affiliate" of Trustor means a
       person or entity that is in Control of, under common Control with, or
       Controlled by, Trustor.

              For purposes hereof, "Control" of an entity means the power or
       authority, through the ownership (directly or as a trust beneficiary) of
       voting securities; by contract; or otherwise, to direct the management of
       such entity.

       SECTION 12. MISCELLANEOUS.

              (a) Every person or entity at any time liable for the payment of
the indebtedness evidenced hereby waives all taking of formal collection steps,
including, but not limited to, presentment for payment, demand, and notice of
nonpayment, protest, dishonor or acceleration of this Note. Every such person or
entity further hereby consents to any extension of the time of payment hereof or
other modification of the terms of payment of this Note, the release of all or
any part of the security herefor, or the release of any party liable for the
payment of the indebtedness evidenced hereby at any time and from time to time
at the request of anyone now or hereafter liable therefor. Any such extension or
release may be made without notice to any of such persons or entities and
without discharging their liability. All payments required to be made under this
Note, the Security Documents, the Indemnity Agreement and the other documents,
instruments and agreements entered into in connection therewith (collectively,
the "Loan Documents") shall be made without offset or deduction of any kind.

              (b) Each person or entity who signs this Note is jointly and
severally liable for the full repayment of the entire indebtedness evidenced
hereby and the full performance of each and every obligation contained in the
Security Documents.

              (c) The headings to the various sections have been inserted for
convenience of reference only and do not define, limit, modify, or expand the
express provisions of this Note.

              (d) Time is of the essence under this Note and in the performance
of every term, covenant, and obligation contained herein.

                                      -7-
<PAGE>   8

              (e) This Note is made with reference to and is to be construed in
accordance with the laws of the State of California.

              (f) This Note and the other Loan Documents constitute the final
expression of the entire agreement of the parties with respect to the
transactions set forth therein. No party is relying on any oral agreement or
other understanding not expressly set forth in the Loan Documents. The Loan
Documents may not be amended or modified except by means of a written document
executed by the party sought to be charged with such amendment or modification.

              (g) In the event holder at any time discovers that this Note or
the Security Instrument or any of the other Loan Documents contains an error
caused by a clerical mistake, calculation error, computer error, printing error
or similar error, Borrower shall, upon notice from holder, re-execute any such
Loan Document as necessary to correct any such error(s), and Borrower shall also
not hold holder responsible for any damage suffered by Borrower resulting from
any such error. In addition, if any of the Loan Documents are lost, stolen,
mutilated or destroyed, Borrower shall execute and deliver to holder on holder's
request a duplicate of such Loan Document identical in form and content, and
which will be identical in effect for all purposes, provided holder delivers to
Borrower an indemnification agreement in favor of Borrower protecting Borrower
from any damages arising from such re-execution.

       DATED as of the day and year first above written.

                                   SKECHERS U.S.A., INC., a Delaware corporation

                                   By   /s/ MICHAEL GREENBERG
                                        ----------------------------------------
                                        Michael Greenberg, President

                                   By   /s/ PHILIP C. PACCIONE
                                        ----------------------------------------
                                        Philip G. Paccione, General Counsel and
                                        Secretary

                                      -8-

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