Exhibit 10 AGREEMENT

 

                                   Exhibit 10

 

AGREEMENT  made as of the Twenty  Second  (22nd) day of March in the year of Two

Thousand and Five (In words, indicate day, month and year)

 

BETWEEN the Owner:

(Name, address and other information)

 

Community Bankshares, Inc.

791 Broughton Street

Orangeburg, South Carolina 29115

Telephone Number: (803) 535-1060

 

 

and the Contractor:

(Name, address and other information)

 

C. F. Evans & Company, Inc.

P. O. Box 1686

Orangeburg, South Carolina 29116-1686

Telephone Number: (803) 536-6443

Fax Number: (803) 531-4629

 

The Project is:

(Name and location)

 

Community Bankshares Corporate Headquarters

Orangeburg, South Carolina

 

The Architect is:

(Name, address and other information)

 

Robert E. Moore Architect

1800 Ashcraft Avenue

Monroe, North Carolina  28110

Telephone Number: (704) 283-1196

Fax Number: (704) 289-4422

 

The Owner and Contractor agree as follows.

 

 

<PAGE>

 

 

ARTICLE 1   THE CONTRACT DOCUMENTS

 

The Contract  Documents  consist of this  Agreement,  Conditions of the Contract

(General, Supplementary and other Conditions), Drawings, Specifications, Addenda

issued prior to  execution of this  Agreement,  other  documents  listed in this

Agreement and Modifications issued after execution of this Agreement; these form

the  Contract,  and are as fully a part of the  Contract  as if attached to this

Agreement or repeated herein. The Contract  represents the entire and integrated

agreement  between  the  parties  hereto  and  supersedes  prior   negotiations,

representations  or  agreements,  either  written or oral. An enumeration of the

Contract Documents, other than Modifications, appears in Article 8.

 

ARTICLE 2   THE WORK OF THIS CONTRACT

 

The Contractor shall fully execute the Work described in the Contract Documents,

except to the extent specifically  indicated in the Contract Documents to be the

responsibility of others.

 

ARTICLE 3   DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION

 

Section  3.1 The  date of  commencement  of the  Work  shall be the date of this

Agreement  unless a different  date is stated below or provision is made for the

date to be fixed in a notice to proceed issued by the Owner. (Insert the date of

commencement  if it differs from the date of this  Agreement or, if  applicable,

state that the date will be fixed in a notice to proceed.)

 

 Date of Commencement will be ten (10) days after receipt of building permit

 

If,  prior to the  commencement  of the Work,  the Owner  requires  time to file

mortgages,  mechanic's  liens and other  security  interests,  the Owner's  time

requirement shall be as follows:

 

 

 

Section  3.2 The Contract Time shall be measured from the date of commencement.

 

Section 3.3 The Contractor  shall achieve  Substantial  Completion of the entire

Work not later than days from the date of commencement,  or as follows:  (Insert

number  of  calendar  days.  Alternatively,  a  calendar  date may be used  when

coordinated  with the  date of  commencement.  Unless  stated  elsewhere  in the

Contract Documents,  insert any requirements for earlier Substantial  Completion

of certain portions of the Work.)

 

Date of  Substantial  Completion  will be seven  (7)  months  after  receipt  of

building permit

 

        Portion of Work               Substantial Completion Date

 

 

, subject to  adjustments  of this  Contract  Time as provided  in the  Contract

Documents.  (Insert  provisions,  if any,  for  liquidated  damages  relating to

failure to complete on time or for bonus  payments for early  completion  of the

Work.)

 

Should the project not be complete by date of Substantial Completion, liquidated

damages will be assessed at the rate of Two Hundred Fifty Dollars  ($250.00) for

each day Owner is unable to assume occupancy.

 

The Contractor  will be paid a bonus of Two Hundred Fifty Dollars  ($250.00) for

every calendar day the project is completed ahead of the six-month  construction

schedule.

 

                                       2

<PAGE>

 

ARTICLE 4   CONTRACT SUM

 

Section 4.1 The Owner shall pay the Contractor the Contract Sum in current funds

for the Contractor's  performance of the Contract. The Contract Sum shall be One

Million Four Hundred  Seventy-five  Thousand Five Hundred Dollars and Zero Cents

($  1,475,500.00  ),  subject to  additions  and  deductions  as provided in the

Contract Documents.

 

Section 4.2 The Contract  Sum is based upon the  following  alternates,  if any,

which are  described in the Contract  Documents  and are hereby  accepted by the

Owner:  (State the numbers or other  identification of accepted  alternates.  If

decisions  on other  alternates  are to be made by the Owner  subsequent  to the

execution of this Agreement,  attach a schedule of such other alternates showing

the amount for each and the date when that amount expires)

 

 

 

Section  4.3 Unit prices, if any, are as follows:

 

        Description              Units              Price ($ 0.00)

 

 

ARTICLE 5   PAYMENTS

 

Section  5.1 PROGRESS PAYMENTS

 

Section 5.1.1 Based upon  Applications for Payment submitted to the Architect by

the Contractor and Certificates  for Payment issued by the Architect,  the Owner

shall make progress payments on account of the Contract Sum to the Contractor as

provided below and elsewhere in the Contract Documents.

 

Section 5.1.2 The period  covered by each  Application  for Payment shall be one

calendar month ending on the last day of the month, or as follows:

 

Section  5.1.3  Provided  that an  Application  for  Payment is  received by the

Architect not later than the twenty-fifth (25th) day of a month, the Owner shall

make payment to the  Contractor  not later than the tenth (10th) day of the next

month.  If an  Application  for Payment is received by the  Architect  after the

application date fixed above,  payment shall be made by the Owner not later than

fifteen (15) days after the Architect receives the Application for Payment.

 

Section