Document:

exv10w6

 

EXHIBIT
10.6

CONTINUING UNCONDITIONAL GUARANTY

     This Continuing Unconditional Guaranty (this “Guaranty”) dated as of the 27th day
of September, 2006 (the “Effective Date”), is made by Joe Fogarty, Nancy Fogarty, individuals
domiciled in Harris County, Texas, and The Fogarty Family Trust (collectively, the “Guarantors”),
for the benefit of United Development Funding III, L.P., a Delaware limited partnership and its
affiliates, subsidiaries, successors and assigns (“Lender”).

R E C I T A L S:

     A. Lender has agreed to advance funds to Arete Real Estate and Development Company, a Texas
corporation, Creative Modular Housing, Inc., a Texas corporation, and Modern Modular Home Rental
Corp., a Texas corporation (collectively, “Borrowers”) as co-borrowers under that certain Secured
Promissory Note dated the Effective Date in the principal amount of U.S. $3,617,500.00 (the
“Note”).

     B. Each Guarantor is an affiliate of Borrower and shall benefit, directly or indirectly, from
the loan made to Borrower under the Note.

     C. The Guarantors are willing to execute this Guaranty in favor of Lender and hereby agree to
be bound by its terms and conditions.

A G R E E M E N T:

     NOW, THEREFORE, for good and valuable consideration, and intending to be legally bound hereby,
each Guarantor, severally and jointly with the other Guarantor, agrees and covenants with Lender as
follows:

     1. Definitions. Capitalized terms not defined in this Guaranty shall have the
respective meanings given to such terms in the Note.

     2. Guaranty and Surety. Each Guarantor hereby absolutely and unconditionally
guarantees, and becomes surety for, the full, timely and complete payment when due, whether by
lapse of time, by acceleration of payment, or otherwise, of (a) all indebtedness, liabilities and
obligations of Borrowers to Lender, whether now existing or hereinafter arising, under the Note and
the other Loan Documents, (b) all costs reasonably incurred by Lender to obtain, preserve, perfect
and enforce the security interests granted by this Agreement and to maintain, preserve and collect
any collateral, and all taxes, assessments, insurance premiums, repairs, reasonable attorneys’ fees
and legal expenses, rent, storage charges, advertising costs, brokerage fees and expenses of sale
related thereto, and (c) all renewals, extensions, modifications and substitutions of all or any
part of the indebtedness and obligations described in the foregoing clauses (a) and (b)
(collectively, the “Guaranteed Obligations”). Each Guarantor’s obligation under this Guaranty is
unconditional, absolute and enforceable, irrespective of (a) the validity or enforceability of the
Guaranteed Obligations in whole or in part or of the Note and the other Loan Documents or any
provision thereof, (b) whether recovery against Borrowers with respect to the Guaranteed
Obligations in whole or in part is prevented by bankruptcy, the operation of

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law, or otherwise, and (c) any other circumstance that might otherwise cause a legal or equitable
discharge or defense of Guarantors.

     3. Subsequent Acts by Lender. Lender may, in its sole discretion and without notice,
take or refrain from taking any action that might otherwise be deemed a legal or equitable release
or discharge of Guarantors’ obligations under this Guaranty, without either impairing or affecting
the joint and several liability of Guarantors for the full, timely and complete payment of the
Guaranteed Obligations, which actions might include, by way of illustration and not limitation:

     (a) the renewal or extension of any of the Guaranteed Obligations or any payments
thereunder, or the acceleration or change of time for payment of the Guaranteed Obligations,
any increase in the principal amount of any promissory note or other instrument comprising a
part of the Guaranteed Obligations, and/or any additional funds advanced under the
Guaranteed Obligations;

     (b) the modification, amendment or change in any of the terms relating to any
promissory note or other agreement, document or instrument now or hereafter executed by any
Borrower in favor of Lender, including, without limitation, the Note and the other Loan
Documents;

     (c) the absence of any attempt to collect the Guaranteed Obligations from Borrowers or
any other person or entity primarily or secondarily liable for the Guaranteed Obligations or
any other action to enforce Lender’s rights with respect to the Guaranteed Obligations;

     (d) the waiver, consent, or delay in enforcement by Lender with respect to any
provision of any instrument evidencing the Guaranteed Obligations;

     (e) any failure by Lender to take any steps to perfect and maintain its security
interest in, or to preserve its rights to, any security or collateral given for the
Guaranteed Obligations, or the release or compromise of any lien or security held by Lender
as security for the Guaranteed Obligations;

     (f) the compounding, rearrangement or consolidation by Lender of all or any part of the
Guaranteed Obligations;

     (g) the release from liability of Borrowers or any other guarantor or person or entity
primarily or secondary liable for the Guaranteed Obligations who may guarantee or provide
security for the Guaranteed Obligations in whole or in part; or

     (h) the settlement, release, compromise or cancellation of all or any part of the
Guaranteed Obligations, or the acceptance of partial payment of all or any part of the
Guaranteed Obligations.

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     4. Expenses. Each Guarantor agrees to pay all costs and expenses, including, without
limitation, all court costs and reasonable attorneys’ fees paid or incurred by Lender in
endeavoring to collect all or any part of the Guaranteed Obligations, or in enforcing or pursuing
Lender’s remedies with respect to the Guaranteed Obligations.

     5. Payment by Guarantor. In the event of any failure to pay with respect to the
Guaranteed Obligations or any “default” or “event of default” under the Note or any Loan Document
(the terms “default” and “event of default” having the respective meanings given to such terms in
the Note and the other Loan Documents), each Guarantor agrees to pay on demand, all of the
Guaranteed Obligations and all other costs, expenses and other amounts payable under this Guaranty.
Lender shall not be required to liquidate any lien or any other form of security, instrument, or
note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF
COLLECTION, and each Guarantor specifically agrees that Lender shall not be required to assert any
claim, file suit, or proceed to obtain a judgment against Borrowers or any other guarantor,
endorser or surety for the Guaranteed Obligations, or make any effort at collection of the
Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now
or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or
remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before
or as a condition of enforcing the liability of Guarantors under this Guaranty or requiring payment
of the Guaranteed Obligations under this Guaranty. Each Guarantor agrees, to the full extent it
may legally do so, that suit may be brought against such Guarantor with or without making Borrowers
or any other person or entity a party to such suit, as Lender may elect. Each Guarantor agrees
that such Guarantor shall remain fully liable under this Guaranty regardless of whether any
Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or
any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrowers.

     6. Application of Payments. Lender shall have the exclusive right to determine the
time and manner of application of any payments or credits to the Guaranteed Obligations, whether
received from Borrowers or any other source, and such determination shall be binding on Guarantors.
All such payments and credits may be applied, reversed and reapplied, in whole or in part, to any
of the Guaranteed Obligations as Lender shall determine in its sole discretion without affecting
the validity or enforceability of this Guaranty.

     7. Guarantors’ Responsibilities. Each Guarantor hereby assumes responsibility for
keeping itself informed of the financial condition of Borrowers, and any and all endorsers and/or
other guarantors of any instrument or document evidencing all or any part of the Guaranteed
Obligations and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed
Obligations. Each Guarantor further agrees that Lender shall have no duty to advise such Guarantor
of any information known to Lender regarding such condition or such circumstances or to undertake
any investigation. If Lender, in its sole discretion, undertakes at any time or from time to time
to provide any information to any Guarantor, Lender shall be under no obligation to update any such
information or to provide any such information to Guarantors on any subsequent occasion.

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     8. Reinstatement. Each Guarantor agrees that, to the extent any payment or payments
are made to Lender or Lender receives any proceeds of collateral, which payments or proceeds are
subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to
be repaid to Borrowers or any other party, then such Guarantor’s obligations under this Guaranty to
the extent of such repayment, shall immediately and automatically be reinstated and continued in
full force and effect.

     9. Subordination. Each Guarantor agrees that any and all claims of such Guarantor
against Borrowers, any endorser or any other guarantor of all or any part of the Guaranteed
Obligations, and the properties and assets of Borrowers, whether arising by reason of any payment
by such Guarantor to Lender pursuant to the provisions of this Guaranty or otherwise, shall be
subordinate and subject in right of payment to the prior payment, in full, to Lender of all of the
Guaranteed Obligations.

     10. Waivers by Guarantors. Each Guarantor hereby waives to the extent permissible by
law: (a) notice of acceptance of this Guaranty and of creation of the Guaranteed Obligations, (b)
presentment, notice of non-payment, and demand for payment of the Guaranteed Obligations, (c)
protest, notice of protest, and notice of dishonor or default to such Guarantor or to any other
party with respect to any of the Guaranteed Obligations, and (d) all other notices to which such
Guarantor might otherwise be entitled.

     11. Continuation. This Guaranty shall continue in full force and effect with respect
to each Guarantor, and Lender shall be entitled to make loans and advances and extend financial
accommodations to Borrower on the faith of this Guaranty, until Lender delivers to such Guarantor,
a written revocation of this Guaranty executed by Lender.

     12. Mutual Understanding. Each Guarantor represents and warrants to Lender that such
Guarantor has read and fully understands the terms and provisions hereof, has had an opportunity to
review this Guaranty with legal counsel and has executed this Guaranty based on such Guarantor’s
own judgment and advice of counsel. If an ambiguity or question of intent or interpretation
arises, this Guaranty will be construed as if drafted jointly by the Guarantors and Lender and no
presumption or burden of proof will arise favoring or disfavoring any party because of authorship
of any provision of this Guaranty.

     13. Further Assurances. Each Guarantor at such Guarantor’s expense will promptly (a)
execute and deliver to Lender on Lender’s request, all such other and further documents, agreements
and instruments as may be requested by Lender, and (b) deliver all such supplementary information
as may be requested by Lender, in compliance with or accomplishment of the agreements of such
Guarantor under this Guaranty.

     14. Cumulative Remedies. Each Guarantor hereby agrees that all rights and remedies
that Lender is afforded by reason of this Guaranty are separate and cumulative with respect to
Guarantors and otherwise and may be pursued separately, successively, or concurrently, as Lender
deems advisable. In addition, all such rights and remedies of Lender are non-exclusive and shall
in no way limit or prejudice Lender’s ability to pursue any other legal or equitable rights or
remedies that may be available to Lender.

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     15. Notice. All notices and other communications under this Guaranty will be in
writing and will be mailed by registered or certified mail, postage prepaid, sent by facsimile,
delivered personally by hand, or delivered by nationally recognized overnight delivery service
addressed to Lender at 1812 Cindy Lane, Suite 200, Bedford, Texas 76021, Facsimile No. (817)
835-0383, and Guarantors at 340 North Sam Houston Parkway East, #100, Houston, Texas 77060,
Facsimile No. (281) 260-9798, or to such other address as a party may have delivered to the other
parties for purposes of notice. Each notice or other communication will be treated as effective
and as having been given and received (a) if sent by mail, at the earlier of its receipt or three
business days after such notice or other communication has been deposited in a regularly maintained
receptacle for deposit of United States mail, (b) if sent by facsimile, upon electronic or written
confirmation of facsimile transfer, (c) if delivered personally by hand, upon electronic or written
confirmation of delivery from the person delivering such notice or other communication, or (d) if
sent by nationally recognized overnight delivery service, upon electronic or written confirmation
of delivery from such service.

     16. Enforcement and Waiver by Lender. Lender shall have the right at all times to
enforce the provisions of this Guaranty and the other Loan Documents in strict accordance with
their respective terms, notwithstanding any conduct or custom on the part of Lender in refraining
from so doing at any time or times. The failure of Lender at any time or times to enforce its
rights under such provisions strictly in accordance with the same, shall not be construed as having
created a custom or in any way or manner modified or waived the same. All rights and remedies of
Lender are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a
waiver or release of any other right or remedy.

     17. CHOICE OF LAW; JURISDICTION; VENUE. EXCEPT TO THE EXTENT THAT THE VALIDITY OR
PERFECTION OF SECURITY INTERESTS OR REMEDIES IN RESPECT OF ANY PARTICULAR COLLATERAL IS GOVERNED BY
THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF TEXAS, THIS GUARANTY SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO ITS
CONFLICTS OF LAWS PROVISIONS. JURISDICTION FOR ALL MATTERS ARISING OUT OF THIS GUARANTY SHALL BE
EXCLUSIVELY IN THE STATE AND FEDERAL COURTS SITTING IN DALLAS COUNTY, TEXAS, AND EACH GUARANTOR
HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF SUCH STATE AND FEDERAL COURTS AND AGREES AND
CONSENTS NOT TO ASSERT IN ANY PROCEEDING, THAT ANY SUCH PROCESS IS BROUGHT IN AN INCONVENIENT FORUM
OR THAT THE VENUE THEREOF IS IMPROPER, AND FURTHER AGREES TO A TRANSFER OF SUCH PROCEEDING TO THE
COURTS SITTING IN DALLAS COUNTY, TEXAS.

     18. Severability. If any provision of this Guaranty shall be held invalid under any
applicable laws, then all other terms and provisions of this Guaranty shall nevertheless remain
effective and shall be enforced to the fullest extent permitted by applicable law.

     19. Amendments; Waivers. No amendment or waiver of any provision of this Guaranty nor
consent to any departure by any Guarantor herefrom shall in any event be effective

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unless the same shall be in writing and signed by Lender and the affected Guarantor, and then such
waiver or consent shall be effective only in the specific instance and for the specific purpose for
which given.

     20. Binding Effect; Assignment. This Guaranty shall be binding on each Guarantor and
such Guarantor’s administrators, legal representatives, successors, heirs and/or assigns,
including, without limitation, any receiver, trustee or debtor in possession of or for such
Guarantor, and shall inure to the benefit of Lender and its successors and assigns. No Guarantor
shall be entitled to transfer or assign this Guaranty in whole or in part without the prior written
consent of Lender. This Guaranty is freely assignable and transferable by Lender without the
consent of Guarantors. Should the status, composition, structure or name of any Guarantor change,
this Guaranty shall continue and also cover the Guaranteed Obligations under the new status
composition, structure or name according to the terms of this Guaranty.

     21. Counterparts. This Guaranty may be executed in any number of multiple counterparts
and by different Guarantors on separate counterparts, all of which when taken together shall
constitute but one and the same agreement.

     22. Captions. The captions in this Guaranty are for the convenience of reference only
and shall not limit or otherwise affect any of the terms or provisions hereof.

     23. Number of Gender of Words. Except where the context indicates otherwise, words in
the singular number will include the plural and words in the masculine gender will include the
feminine and neutral, and vice versa, when they should so apply.

     24. WAIVER OF JURY TRIAL, PUNITIVE DAMAGES, ETC. EACH GUARANTOR HEREBY KNOWINGLY,
VOLUNTARILY, INTENTIONALLY, AND IRREVOCABLY (A) WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY
LAW, ANY RIGHT SUCH GUARANTOR MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED
HEREON, OR DIRECTLY OR INDIRECTLY AT ANY TIME ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
GUARANTY OR THE LOAN DOCUMENTS OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY OR ASSOCIATED
HEREWITH OR THEREWITH, BEFORE OR AFTER MATURITY OF THE NOTE; (B) WAIVES, TO THE MAXIMUM EXTENT NOT
PROHIBITED BY LAW, ANY RIGHT SUCH GUARANTOR MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY
“SPECIAL DAMAGES”, AS DEFINED BELOW, (C) CERTIFIES THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OF
LENDER OR COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT
SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS, AND (D)
ACKNOWLEDGES THAT LENDER HAS BEEN INDUCED TO MAKE THE LOAN AND ACCEPT THE NOTE BASED UPON, AMONG
OTHER THINGS, THE WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION. AS USED IN THIS SECTION,
“SPECIAL DAMAGES” INCLUDES ALL SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES (REGARDLESS
OF HOW NAMED), BUT

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DOES NOT INCLUDE ANY PAYMENTS OR FUNDS WHICH ANY PARTY HERETO HAS EXPRESSLY PROMISED TO PAY OR
DELIVER TO ANY OTHER PARTY HERETO.

     25. ENTIRE AGREEMENT. THIS GUARANTY TOGETHER WITH THE NOTE AND THE OTHER LOAN
DOCUMENTS TOGETHER CONSTITUTE THE ENTIRE AGREEMENT AMONG THE PARTIES CONCERNING THE SUBJECT MATTER
HEREOF, AND ALL PRIOR DISCUSSIONS, AGREEMENTS AND STATEMENTS, WHETHER ORAL OR WRITTEN, ARE MERGED
INTO THIS GUARANTY, THE NOTE AND THE OTHER LOAN DOCUMENTS. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
AMONG THE PARTIES. THIS GUARANTY, THE NOTE AND THE OTHER LOAN DOCUMENTS MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

[The remainder of this page is left blank intentionally.]

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     IN
WITNESS WHEREOF, each Guarantor has duly executed this Guaranty on this the ___ day of
September, 2006, effective for all purposes as of the Effective Date.

	 	 	 	 	 	 	 
	GUARANTORS:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	/s/
Joe Fogarty	 	 
	 	 	Joe Fogarty	 	 
	 
	 	 	/s/
Nancy Fogarty	 	 
	 	 	Nancy Fogarty	 	 
	 
	 	 	 	 	 	 
	 	 	THE FOGARTY FAMILY TRUST	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/
Joe Fogarty	 	 
	 

	 	 	 	Joe Fogarty, Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Nancy Fogarty	 	 
	 

	 	 	 	Nancy Fogarty, Trustee	 	 
	 

	 	 	 	 	 	 

8exv10w65

 

Exhibit 10.65

FIRST AMENDMENT TO LEASE AGREEMENT

This FIRST AMENDMENT TO LEASE AGREEMENT (“First Amendment”) is made and entered into effective as
of August 1, 2006 (“Effective Date”), by and between DCT CREEKSIDE III LLC, a Delaware limited
liability company (“Landlord”), and RED ENVELOPE, INC.
(“Tenant”).

RECITALS 

     This First Amendment is made with respect to the following facts:

     A. Creekside III LLC (“Creekside”), as predecessor in interest to Landlord (hereinafter
collectively “Landlord”), and Tenant entered into a Lease Agreement dated April 1, 2004
(the “Lease”), whereby Tenant leased certain premises consisting of approximately 238,674
rentable square feet located at 4000 Creekside Parkway, Lockbourne, Ohio 43137 (the
“Premises”).

     B. Landlord and Tenant now desire to amend the Lease to provide for an extension of the
Term of the Lease for the Premises on the terms and conditions set forth below.

AGREEMENT

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and other
good and valuable consideration, the receipt and sufficiency of which, are hereby acknowledged, the
parties hereby agree as follows:

     1. Defined
Terms. Unless otherwise expressly defined herein, all initially
capitalized terms used herein shall have the meanings set forth for such terms in the
Lease.

     2. Extension
Term. As of August 1, 2006 (the “Extension Term Commencement
Date”), the Lease shall be extended for an additional period of twelve (12) months (the
“Extension Term”), so that the expiration date of the Lease shall thereby be July 31, 2007
(the “Termination Date”). For purposes herein, Tenant hereby acknowledges that the
extension of the Term of the Lease as contemplated by this First Amendment shall be deemed
to mean the exercise of Tenant’s first renewal option as granted under Section 1 of
Exhibit F of the Lease, and therefore, Tenant shall have one (1) remaining renewal option
to extend the Term of the Lease beyond the Extension Term in accordance with the
provisions thereof.

     3. Monthly
Base Rent. From and after the Extension Term Commencement Date until
the Termination Date, the Monthly Base Rent payable to Landlord in accordance with the
provisions of the Lease shall be $68,618.78 per month.

     4. Operating
Expenses. In addition to the Monthly Base Rent as set forth above, Tenant
shall remain obligated for the payment of Operating Expenses in accordance with the provisions of
the Lease during the Extension Term.

     5. Tender
of Premises. Tenant currently occupies the Premises as of the Effective Date
hereof. Tenant’s continued occupancy of the Premises on August 1, 2006 shall be deemed Tenant’s
acceptance thereof in its As-Is condition, and Landlord shall have no obligations to make or
perform any alterations or improvements to the Premises.

 

 

     6. Brokers. Tenant hereby represents and warrants to Landlord that Tenant has not engaged
or dealt with any broker, finder, or agent in connection with the negotiation and/or execution of
this First Amendment, other than Pizzuti Management LLC (“Landlord’s Broker”) and The Staubach
Company (“Tenant’s Broker”) (Landlord’s Broker and Tenant’s Broker collectively hereinafter
referred to as the “Brokers”), and Tenant agrees to indemnify and save Landlord harmless from any
claim, demand, damage, liability, cost or expense (including, without limitation, attorneys’ fees)
paid or incurred by Landlord as a result of any claim for brokerage or other commissions or fees
made by any other broker, finder, or agent, other than Brokers, whether or not meritorious,
employed or engaged or claiming employment or engagement by, through, or under Tenant.

     7. Status
of Lease Obligations. Tenant acknowledges and certifies that as of the date
hereof, Landlord has performed all covenants and obligations on the part of Landlord to be
performed under the Lease and that Tenant has no claims or right of offset against Landlord.

     8. Effect
of Amendment., Except as expressly amended hereby, the Lease shall continue in
full force and effect and unamended. In the event of any conflict or inconsistency between the
provisions of the Lease and this First Amendment, the provisions of this First Amendment shall
control.

     9. Binding
Effect. This First Amendment will be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns.

     10. Severability. In the event that any one or more of the provisions of this First Amendment shall
for any reason be held to be invalid or unenforceable, the remaining provisions of this First
Amendment shall be unimpaired, and shall remain in full force and effect and be binding upon the
parties hereto.

     11. Headings. The paragraph headings that appear in this First Amendment are for purposes
of convenience of reference only and are not in any sense to be construed as modifying the
substance of the paragraphs in which they appear.

     12. Counterparts. This First Amendment may be executed in one or more counterparts, each of
which will constitute an original, and all of which together shall constitute one and the same
agreement. Executed copies hereof may be delivered by telecopy and, upon receipt, shall be deemed
originals and binding upon the parties hereto. Without limiting or otherwise affecting the validity
of executed copies hereof that have been delivered by telecopy, the parties will use best efforts
to deliver originals as promptly as possible after execution.

     13. Governing
Law. This First Amendment shall be governed by and construed in accordance
with the laws of the state in which the Premises is located.

     14. Limitation
of Liability. Notwithstanding anything herein to the contrary, the person or
persons executing this First Amendment on behalf of Landlord and
Tenant, respectively, are
authorized to do so and to so bind each respective entity with respect to the provisions herein;
provided, however, that such individuals shall incur no personal liability with respect to the
obligations or performance of Landlord and Tenant, as applicable, under the Lease, as amended.

 

 

     IN
WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the date first set
forth above.

	 	 	 	 	 	 	 
	LANDLORD:	 	TENANT:	 	 
	DCT CREEKSIDE III LLC, a Delaware	 	RED ENVELOPE, INC.	 	 
	limited liability company	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	Dividend Capital Operating Partnership LP,	 	 	 	 
	 

	 	a Delaware limited partnership,	 	 	 	 
	 

	 	its sole member	 	 	 	 

	 	 	 	 	 	 	 
	 

	 	By:
	 	Dividend Capital Trust Inc.,
	 	 
	 

	 	 	 	a Maryland corporation,	 	 
	 

	 	 	 	its general partner	 	 

	 	 	 	 	 	 	 
	By:

	 	/s/ Daryl H. Mechem
	 	By:
	 	/s/ Ken Constable
	 

	 	 
	 	 	 	 
	 

	 	Daryl H. Mechem
	 	 	 	Ken Constable
	 

	 	Managing Director
	 	 	 	President & CEO
	 
	 	 	 	 	 	 
	Date:

	 	8/7/06
	 	Date:
	 	8/1/06

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