Exhibit 10.33
STATE OF NORTH CAROLINA
AMENDMENT OF LEASE
COUNTY OF HENDERSON
THIS LEASE
AMENDMENT, made and entered into this the 23 day of February, 2009,
by and between MCMANUS DEVELOPMENT, LLC., A NC Limited Liability
Company, Lessor and MOUNTAIN 1 ST BANK AND TRUST,
Lessee;
WITNESSETH
WHEREAS, on August 25, 2005, a Lease
was entered into for the property identified as 3270 Hendersonville
Road, Fletcher, Henderson County, North Carolina, (the
“Premises”), under terms and conditions as described in
that original lease, a copy of which is attached hereto and
incorporated fully as if set out herein in its entirety;
WHEREAS in Article 2 of the original
lease, the initial term was in error. The term of the lease is for
Five years, and extends to September 30, 2010.
WHEREFORE, The parties hereto
execute this document to correct the error of the lease term from
Ten years to Five years.
The remainder of the Lease between
the parties shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have
executed this Amendment to Lease, or if corporate have caused this
Lease to be executed, the day and year first above
given.
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MCMANUS
DEVELOPMENT, LLC
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MOUNTAIN
1 ST
BANK AND TRUST
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By:
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/s/ H. Steve
McManus
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BY:
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/s/ Vincent
K. Rees
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H. STEVE MCMANUS,
Member-Manager
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VINCENT K. REES,
President
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STATE OF NORTH CAROLINA
COUNTY OF HENDERSON
I, a Notary Public for said County
and State, do hereby certify that H. STEVE MCMANUS, Member-Manager
of MCMANUS DEVELOPMENT, LLC, a North Carolina limited liability
company, personally appeared before me this day and acknowledged
the due execution of the foregoing instrument on behalf of the
company.
Witness my hand and official seal this the 23
day of February, 2009
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/s/ Leilani
D.
Dirkse
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Notary
Public
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STATE OF NORTH CAROLINA
COUNTY OF HENDERSON
This the 23 day of
February, 2009, personally appeared before me, the undersigned
Notary Public in and for the County and State VINCENT K. REES, who
being duly sworn, says that he is President of MOUNTAIN 1
ST
BANK & TRUST,
and that the seal affixed to the foregoing instrument in writing is
the corporate seal of said Corporation, and that said writing was
signed by him in behalf of the said Corporation by its authority
duly given.
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/s/ Leilani
D.
Dirkse
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Notary
Public
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STATE OF NORTH CAROLINA
LEASE AGREEMENT
COUNTY OF HENDERSON
THIS LEASE AGREEMENT is made and
entered into this 25 day of August, 2005, by and between McMANUS
DEVELOPMENT LLC, hereinafter referred to as LESSOR, and MOUNTAIN
1ST BANK AND TRUST, hereinafter referred to as LESSEE.
In consideration of the mutual
covenants herein, the parties agree as follows:
1. PREMISES. Lessor does hereby
lease to Lessee, and Lessee does accept as tenant those premises
located at 3270 Hendersonville Road, Fletcher, Henderson County,
North Carolina, said premises being particularly described on
Exhibit A attached hereto and incorporated herein.
2. TERM. The term of this lease
shall be for 10 years commencing upon the later of occupancy of the
facility or October, 2005, and extending to September 30, 2015.
Should the Premises be completed and occupied prior to the
commencement date, the Lessee shall pay the Lessor the sum of One
Hundred Six and 67/100 Dollars ($106.67) for each day prior to
October 1, 2005 that the building is occupied.
3. RENT. Lessee shall pay to Lessor
rent in the amount of Three Thousand Two Hundred and no/100 Dollars
($3,200.00) per month, which rental amount shall be due and payable
on or before the 10th day of each monthly period during the term of
this Lease Agreement. Lessee shall pay to Lessor, as additional
rent, an amount equal to five percent (5%) of one (1) month’s
rent as a late penalty should Lessor not receive the monthly rental
payment on or before such 30th day.
4. RENEWAL OPTION. Provided and upon
the condition that Lessee shall not then be in default under the
terms of this Lease beyond any applicable grace or cure period,
Lessee shall have the right to renew this Lease for a total of
three (3) additional terms of five (5) years each. Lessee shall
give notice in writing to Lessor by certified mail at least thirty
(30) days prior to the end of the original term or the current five
year renewal term of its intention not to exercise its option to
renew this Lease. Otherwise, the Lease shall automatically renew
for the next term available. The terms of the lease shall remain in
effect during each successive five year renewal term except that
monthly rental amounts may be adjusted by the aggregate increase in
the Chained Consumer Price Index for all Urban Consumers Index
(C-CPI-U as published by the U.S. Bureau of Labor Statistics)
experienced since the beginning of the immediately preceding
renewal term, or in the case of the original term, since the date
of the occupancy of the subject property. After the passage of 5
years, in any event, however, increases in the monthly rental
amount for the initial renewal term shall not exceed 118% of the
monthly rental amount of the 5 year original term, and increases in
monthly rental amounts of the subsequent renewal terms shall not
exceed 115% of the immediately preceding renewal term. The parties
understand and agree that this paragraph grants Lessee three (3)
separate options to renew this Lease Agreement for successive three
(3) renewal terms provided the requisite notice is
1
given. The parties understand and agree that
this paragraph does not grant Lessee one option to renew this
Lea
