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<br />CONSENT OF LENDER <br /> <br />The undersigned (as successor-in-interest to Fremont Investment & Loan, a <br />California industrial bank, "Beneficiary") holds the beneficial interest in that certain Deed of <br />Trust and Fixture Filing recorded in the Office of the County Recorder of Orange on June 20, <br />2006 as Instrument No. 2006000411437 (as amended, the "iStar Deed of Trust"), which <br />iStar Deed of Trust encumbers all or a portion of the Property covered by the First <br />Amendment to Development Agreement ("Amendment"). The undersigned hereby <br />consents to the foregoing Amendment and agrees that the Amendment shall continue in full <br />force and effect, even in the event of foreclosure or trustee's sale pursuant to the iStar Deed <br />of Trust, or any other acquisition of title by the undersigned, its successors or assigns, of all <br />or any portion ofthe real property covered by the iStar Deed of Trust. <br /> <br />c,lq/o~ <br /> <br />Dated: <br /> <br />1ST AR FM LOANS LLC <br /> <br />4tb~ <br />By: <br />Name: Rlt GIl..t..E/lnT,-9.Al <br />Title: VIU I#.f I i1~^,"- <br /> <br />STATE OF CALIFORNIA ) <br />) ss. <br />COUNTY OF Dv'l.:J I' ) <br /> <br />On ftll)L 7. 2bo$ before me, (here insert name and title of the officer), <br />personally appeared Fl.;rL h,ll...V'.....2A1 who proved to me on the basis of satisfactory <br />evidence to be the personEsJ-whose name(~ is/ate subscribed to the within instrument and <br />acknowledged to me that he/s~y executed the same in hisllrerfthe.ir authorized <br />capacity~ and that by his/hei:4l:teir signaturef&-) on the instrument the perso11W, or the <br />entity upon behalf of which the personE4acted, executed the instrument. <br /> <br />I certify under PENALTY OF PERJURY under the laws of the State of California <br />that the foregoing paragraph is true and correct. <br /> <br />~" <br /> <br />Signature <br /> <br /><-::~~ <br /> <br />~~~~~~~~----~~ <br />.' DWNNE ZEE ZANDERS <br />. . ...... .... Commission # 1695394 <br />-. z <br />~ . Notary Public - California ~ <br />Orange County <br />My Comm. Expires Cct3, 2010 <br /> <br />WITNESS my hand and official seal. <br /> <br /> <br />(Seal) <br /> <br />11 A-16 <br />