EXHIBIT 10.16
THIRD AMENDMENT TO
PURCHASE AND ASSUMPTION AGREEMENT
THIS THIRD AMENDMENT (the "Amendment") to the Purchase and Assumption
Agreement (the "Agreement"), dated as of December 19, 1996, by and between
PREMIER BANK, FSB, a federal savings bank organized under the laws of the United
States ("Seller"), and PREMIER BANK, formerly known as First Alliance Bank, a
commercial bank organized under the laws of the State of Georgia ("Purchaser"),
is made and entered into this 31st day of May, 1997. Capitalized terms used
herein and not otherwise defined shall have the meaning ascribed to them in the
Agreement.
WHEREAS, the parties hereto desire to amend the Agreement for the purpose
of extending the termination date thereof.
NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Seller and Purchaser agree to amend the Agreement as
follows:
1. Section 13.1 of the Agreement is hereby amended to extend the
expiration of the permissible date of Closing to August 31, 1997.
2. Section 14.3 of the Agreement is hereby amended to extend the automatic
termination date of the Agreement to August 31, 1997.
3. Except as hereinabove amended, the Agreement shall remain otherwise in
full force and effect.
4. This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
executed on its behalf and its corporate seal to be hereunto affixed and
attested by officers hereunto duly authorized all as of the day and year first
above written.
PREMIER BANK, FSB
Attest:
By: /s/ J. Xxxxxx Xxxxxx, Xx.
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J. Xxxxxx Xxxxxx, Xx., President
/s/ Xxxxxxx X. Xxxxx
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Assistant Secretary
[BANK SEAL]
PREMIER BANK
Attest:
By: /s/ J. Xxxxxx Xxxxxx, Xx.
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J. Xxxxxx Xxxxxx, Xx., President
/s/ Xxxxx X. Xxxxx
--------------------
Assistant Secretary
[BANK SEAL]
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