Exhibit 10.6
FIRST AMENDMENT TO BUILDING LEASE
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This FIRST AMENDMENT TO BUILDING LEASE is entered into this 1/st/ day
of January, 2002, by and between the TOWNE SQUARE REALTY, L.L.C., an Illinois
Limited Liability Company, (the "Landlord") and PRIVATE BANK AND TRUST COMPANY,
(the "Tenant") who hereby mutually covenant and agree as follows:
RECITALS:
WHEREAS, Landlord and Tenant entered into a Building Lease Agreement
(hereinafter the "Building Lease") on August 6, 1999 for the first floor of the
building located on the property commonly known as 00 X. 0/xx/ Xxxxxx, Xx.
Xxxxxxx, Xxxxxxxx 00000; and,
WHEREAS, Landlord and Tenant desire to amend said Lease to provide that
the Lease shall cover the entire building in accordance with the terms
hereinafter set forth.
NOW THEREFORE in exchange for good and valuable consideration, the
receipt of which is acknowledged by the parties, Landlord and Tenant agree that
effective November 1, 2001 the Building Lease is hereby amended as follows:
1. That in Article 1.1 the definition of the "Leased Premises" is
amended from the "first floor of the building located on the property commonly
known as 00 X. 0/xx/ Xxxxxx, in the City of St. Xxxxxxx, Xxxx County, Illinois",
to "the entire building located on the property commonly known as 00 X. 0/xx/
Xxxxxx, in the City of St. Xxxxxxx, Xxxx County, Illinois.
2. That in Article 3.2 the monthly Base Rent for the entire "Leased
Premises" (which includes the entire building shall be a total of $13,950.50
(i.e. $9,350.50 for the first floor under the original Building Lease, and
$4,600 for the additional leased space).
3. That Article 3.3 is amended to provide that commencing November 1,
2001 Tenant shall be responsible for "100%" as opposed to "66.67%" of the
general real estate taxes and "100%" as opposed to "50% of the insurance and
common area maintenance and the utility expenses"
4. That Articles 5.5, 5.6 and 5.7 are modified to provide that Tenant's
share of the expenses referenced therein shall be "100%" as opposed "50%".
5. That Tenant shall have the right to terminate this First Amendment
effective the first of any given month by providing 90-days' advanced written
notice to Landlord.
6. In the event that Landlord elects to sell the building in which the
Leased Premises are located, Landlord shall first provide Tenant with 30-days
advanced written notice of its intent to sell. Within said written notice,
Landlord shall include the asking price for the subject property. Tenant shall
have 30 days from receipt of said notice to determine whether in fact it desires
to acquire the property at the stated price. If Tenant fails to provide Landlord
with written notice of its intent to purchase within said 30-day timeframe, then
Landlord shall be free to sell the property on the open market.
7. Landlord agrees to cooperate with Tenant in Tenant's application for a
facade grant from the City of St. Xxxxxxx for the purpose of defraying the cost
of cosmetically improving the rear facade of the Leased Premises.
Except as modified herein, the Building Lease shall remain in full force
and effect.
Executed this 1/st/ day of January, 2002
LANDLORD: TENANT:
TOWNE SQUARE REALTY, L.L.C. PRIVATE BANK AND TRUST COMPANY
By: /s/ Xxxx Xxxxxxxx By: /s/ Xxxx Xxxxxxx
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Member and Authorized Agent Vice Chairman
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