April 28, 1997
Xx. Xxxxxx X. Xxxxxxxx
Executive Vice President
First Lehigh Bank
0000 Xxxx Xxxx
Xxxxxxxxx, XX 00000
Re: 740 Xxxxxxxx Mall Office
Dear George:
This letter will confirm that the existing lease between 000 Xxxxxxxx
Xxxxxx Inc. and First Lehigh Bank for 3,400 sq. ft. at 740 Xxxxxxxx Mall (branch
bank) will be extended for a five year period commencing May 1, 1997 through
April 30, 2002 with the present rent to be adjusted as follows:
During the five year term through April 30, 2002, the rent shall be
$12 per sq. ft. x 3,400 sq. ft. = $40,800 per year to be paid monthly
in the sum of $3,400 per month on the first day of each month, in
advance. In addition, First Lehigh Bank will continue to pay an
additional amount as its pro rata share of taxes, utilities, etc. in
the same manner and using the same formula that the parties have used
over the last ten years of the lease. This calculation will be made
as of February 28th of each year for the prior twelve months and
billed to First Lehigh in early March just as it has been over the
last ten years.
The other terms and conditions set forth in the original lease and
addendum thereto shall remain in full force and effect.
I have enclosed two (2) copies of this letter signed by 000 Xxxxxxxx
Xxxxxx Inc. Please have one copy signed by the
Xx. Xxxxxx X. Xxxxxxxx
Executive Vice President
April 28, 1997
Page -2-
appropriate bank officer and return to me for my file.
Cordially yours,
/s/ Xxxxxx X. Xxxxxxx
-----------------------
XXXXXX X. XXXXXXX
RJJ/aek
Enclosures
The undersigned parties hereby confirm that the lease between them for
the 3,400 sq. ft. at 000 Xxxxxxxx Xxxx has been extended to April 30, 2002 on
the rental terms stated above.
000 XXXXXXXX XXXXXX INC. FIRST LEHIGH BANK
By: [ILLEGIBLE] By: /s/Xxxxxx X Xxxxxxxx
------------------------ -------------------------
President Executive Vice President
