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Exhibit 10.19
LEASE
THIS RETAIL SPACE LEASE is entered into by Landlord and Tenant
as
described in the following Basic Lease Information on the Date
of execution.
Landlord and Tenant agree:
ARTICLE 1.00 BASIC LEASE INFORMATION
In addition to the terms, which are defined elsewhere in this
Lease, the
following defined terms are an integral part of this Lease:
DATE: October 28, 2003
TENANT: TWO RIVER COMMUNITY BANK
TENANT'S ADDRESS: Two River Community Bank
1250 State Hwy No 35
Middletown, New Jersey 07748
after occupancy: Two River Community Bank
West Long Branch Plaza
Monmouth Road
West Long Branch, New Jersey 07764
LANDLORD: MY BEN COMPANY, LLC
A Limited Liability Company of
the State of New Jersey
LANDLORD' S ADDRESS:
P.O. BOX 549
Oakhurst, New Jersey 07755
With a copy at the
same time to: Kathleen Thomas
1500 Allaire Avenue
2 Floor
Ocean, New Jersey 07712
BUILDING ADDRESS: West Long Branch Plaza
Monmouth Road
West Long Branch, New Jersey 07764
COMMENCEMENT DATE: Upon delivery of the premises to the tenant.
Rent
payment to commence Dec. 1, 2003.
EXPIRATION DATE: (5) years after commencement
TERM: (5) years plus three five-year options.
BASE MONTHLY RENT: During the first through the fifth year of
the term,
the rent shall be $3,875.00 per month ($46,500.00 per annum)
$232,500.00 for the
term, based on $15.00 per square foot multiplied by 3,100 square
feet.
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RENT: The Base Monthly Rental plus the applicable common area
maintenance
charges (Additional Rent).
LATE CHARGES: In the event that the tenant does not make any
payment of
the Basic Monthly Rent or additional rent within 10 days after
payment is due as
provided in this lease, the tenant shall pay to the landlord a
late charge equal
to 5% of the overdue rent payment, which late charge shall be
paid with the
overdue payment.
RENT COMMENCEMENT DATE: Shall be upon delivery of the premises
to the
tenant. December 1, 2003.
ACTUAL SQUARE FOOTAGE: 3,100 square feet which consists of 2,500
square
feet of office space plus 600 square feet of canopy area over
drive-in lanes and
windows.
PRO RATA SHARE: Tenant's pro rata share of the expenses shall be
$4.17 per
square foot multiplied by 3,100 square feet. The expenses shall
mean the total
annual costs and expenses incurred by landlord in operating and
maintaining the
common areas including, but not limited to: costs of gardening
and landscaping,
costs of insurance premiums including, but not limited to
general comprehensive
liability insurance (including, without limitation, umbrella
coverage), fire and
casualty insurance, rent insurance, sign insurance and any other
insurance
carried by the landlord with respect to the common areas or
shopping center;
costs of repair, painting, maintenance and replacement and
rental of signs and
sign equipment; which are not part of the demised premises or of
any other
tenant at the Shopping Center; costs of repair, maintenance and
replacement of
lighting; costs of removal or relocation of snow, ice, trash,
rubbish, garbage
and other refuse; recycling, costs of utilities, such as
electricity and water;
costs of repair, maintenance of on-site sewerage facilities; the
cost of
personnel, including management services engaged to manage the
Shopping Center,
but excluding any such services to the extent applicable to
other premises owned
or operated by Landlord; costs of holiday and other decorations.
Common Area
Costs shall also include any amounts specifically designated for
inclusion
therein elsewhere in this Lease, including, but not limited to
taxes, utilities
and insurance.
CAM charges will be $ 4.17 per square foot multiplied by 3,100
square feet
SECURITY DEPOSIT: Two month's rent based upon the rent due upon
execution
of this lease.
PREMISES: That certain area consisting of approximately 3,100,
located on
the site plan of Community Esplanadade of West Long Branch, also
known as West
Long Branch Plaza, and located in Block 60, Lots 71 and 74,
prepared by Louis A.
Scheidt, P.E., P.P., Innovative Engineering, dated August 17,
1994, entitled "1
Final - Major Site Plan Proposed Retail /Office Complex, lots 71
and 74, block
60" which shows the 2,500 square feet plus or minus bank
2
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branch building and two drive-through windows totaling 600
square feet for a
tot
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