Bank Premises. 15 SECTION 2.18
Bank Premises. Buyer will be entitled to possession and control of the Facilities on and after the Effective Time.
Bank Premises. 9 4.2 Agreement with Respect to Safe Deposit Business .................. 10 4.3
Bank Premises. (i) If the Assuming Institution elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the Bank Premises Surrender Date. The Assuming Institution shall be responsible for promptly relinquishing and releasing to the Receiver such Bank Premises and the Fixtures, the Furniture and Equipment and the Specialty Assets located thereon which existed at the time of the Bank Closing Date, in the same condition as at the Bank Closing Date, and at the Bank Premises where they were inventoried at the Bank Closing Date, normal wear and tear excepted. Any of the aforementioned which is missing will be charged to the Assuming Institution at the item's Fair Market Value as determined in accordance with this Agreement. By remaining in any such Bank Premises more than 1 50 days after the Bank Closing Date (unless the Assuming Institution must do so to comply with Section 4. 1 and has made appropriate arrangements with the Receiver and all applicable lessors), the Assuming Institution shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such Bank Premises are located, and (y) be required to purchase all Fixtures and al1 Furniture and Equipment owned by the Failed Bank and located on or at the Bank Premises as of the Bank Closing Date.
Bank Premises. 9 2.15. Real Estate Taxes and Recording Fees....................... 9 2.16.
Bank Premises. Buyer shall be entitled to possession and control of the Branches upon and after the Effective Time. Seller shall coordinate with Buyer to have its signs, logos and related equipment removed from the Branches as of the Effective Time at Seller's expense. As soon as reasonably possible following the Effective Time, Seller will remove all of its personal property not being transferred hereunder, including, but not limited to, equipment, stationery, forms, labels, shipping material, brochures and advertising material.
Bank Premises. (a) At Closing, Seller agrees to execute and deliver to the Assuming Bank a special warranty deed for the Bank Premises which are owned by Seller in substantially the form of Exhibit A attached hereto.
Bank Premises. The Holding Company will pay to the Receiver a cash amount equal to $503,754, which amount represents the appraised value of the Premises ($1,800,000), less:
Bank Premises. 10 (j) Reserved......................................... 11 (k) Claims........................................... 11 (l)
Bank Premises. The Bank has good and marketable title to the ------------- premises constituting the Main Office and to all other Retained Assets free and clear of all liens and encumbrances, except for recorded easements and other minor defects of title which do not impair the use or value of the Main Office and liens for taxes not yet due and payable (the "Permitted Encumbrances"). The premises constituting the Main Office and the continuation of business presently being conducted thereon do not and will not violate any currently applicable zoning laws. The Main Office (i) is served (independent of adjacent landowners) by all utilities and services, including electrical power, gas, water, sewer, and telephone, reasonably necessary for the normal and intended use of the Main Office as a bank branch and (ii) has ingress and egress to and from Xxxxxxx and Xxxxxxx Streets and LaHarpe Boulevard necessary to conduct business currently being conducted thereon. The premises constituting the Main Office are free from structural defects (patent and latent). The premises constituting the Main Office and all items of tangible personal property included within the Retained Assets and located in the Main Office (A) will be reflected accurately in the Pre-Closing Balance Sheet and (B) are in good operating condition and repair(subject to normal wear and tear) and are suitable for the purposes for which they are presently used.
