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EXHIBIT 10.9
REAL ESTATE LEASE
This Lease Agreement (this "Lease") is made effective as of
September 1, 2004,
by and between Robert H. "Bunny" Adcock, Jr. Blind Trust Agreement
dtd 6/4/03,
Matt Barnhardt Trustee, ("Landlord"), and First State Bank,
("Tenant"). The
parties agree as follows:
PREMISES. Landlord, in consideration of the lease payments provided
in this
Lease, leases to Tenant Office building (the "Premises") located at
715
Chestnut, Conway, Arkansas 72032.
TERM. The lease term will begin on September 1, 2004 and will
terminate on
August 30, 2006.
HOLDOVER. If Tenant maintains possession of the Premises for any
period after
the termination of this Lease ("Holdover Period"), Tenant shall pay
to Landlord
a lease payment for the Holdover Period based on the terms of the
following
Lease Payments paragraph. Such holdover shall constitute a
month-to-month
extension of this Lease.
LEASE PAYMENTS. Tenant shall pay to Landlord monthly payments of $
1,200.00 per
month, payable in advance on the first day of each month, for a
total annual
lease payment of $ 14,400.00. Lease payments shall be made to the
Landlord at
1321 Oak Street, Conway, Arkansas 72032, as may be changed from
time to time by
Landlord.
POSSESSION. Tenant shall be entitled to possession on the first day
of the term
of this Lease, and shall yield possession to Landlord on the last
day of the
term of this Lease, unless otherwise agreed by both parties in
writing.
USE OF PREMISES. Tenant may use the Premises only. The premises may
be used for
banking purposes. The Premises may be used for any other purpose
only with the
prior written consent of Landlord, which shall not be unreasonably
withheld.
Tenant shall notify Landlord of any anticipated extended absence
from the
Premises not later than the first day of the extended absence.
REMODELING OR STRUCTURAL IMPROVEMENTS. Tenant shall have the
obligation to
conduct any construction or remodeling (at Tenant's expense) that
may be
required to use the Premises as specified above. Tenant may also
construct such
fixtures on the Premises (at Tenant's expense) that appropriately
facilitate its
use for such purposes. Such construction shall be undertaken and
such fixtures
may be erected only with the prior written consent of the Landlord
which shall
not be unreasonably withheld. At the end of the lease term, Tenant
shall be
entitled to remove (or at the request of Landlord shall remove)
such fixtures,
and shall restore the Premises to substantially the same condition
of the
Premises at the commencement of this Lease.
ACCESS BY LANDLORD TO PREMISES. Subject to Tenant's consent (which
shall not be
unreasonably withheld), Landlord shall have the right to enter the
Premises to
make inspections, provide necessary services, or show the unit to
prospective
buyers, mortgagees, tenants or
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workers. As provided by law, in the case of an emergency, Landlord
may enter the
Premises without Tenant's consent.
UTILITIES AND SERVICES
