Exhibit 10.1
FIRST AMENDMENT TO
REVOLVING LOAN AGREEMENT
THIS FIRST AMENDMENT TO REVOLVING
LOAN AGREEMENT (the “First Amendment”) dated as of
the 11th day of January, 2005, is entered into by and between
SEACOAST BANKING CORPORATION OF FLORIDA , a Florida
corporation, with its principal office and place of business
located at 815 Colorado Avenue, Stuart, Florida 34994 (the
“Borrower”) and SUNTRUST BANK , a Georgia
corporation, 200 S. Orange Avenue, Orlando, Florida 33801 (the
“Bank”).
W I T N E S S E T
H :
WHEREAS , the Borrower and
the Bank previously entered into that certain Revolving Loan
Agreement dated as of September 6, 2001 (the “Loan
Agreement”), pursuant to which the Bank agreed, among other
things, to extend to the Borrower a revolving line of credit loan
in the maximum principal amount of $5,000,000.00 (the
“Loan”) for the purposes set forth in the Loan
Agreement; and
WHEREAS , the Borrower has
requested the Bank to increase the amount available for borrowing
under the Loan by $10,000,000.00 to $15,000,000.00 and to otherwise
modify the Loan Agreement and the Bank has agreed to do so subject
to the additional conditions, limitations and requirements as
hereinafter set forth in this First Amendment.
NOW, THEREFORE , for and in
consideration of the mutual premises contained herein and for other
good and valuable consideration, the receipt and sufficiency
whereof is hereby acknowledged, the parties hereto do hereby agree
as follows:
1. Amendments to Loan
Agreement . The Loan Agreement is hereby amended as
follows:
