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LEASE AGREEMENT
THIS LEASE AGREEMENT made and entered into on the, 6TH DAY OF JANUARY,
1999 by and between BANK & BUSINESS SYSTEMS, INC. hereinafter referred to as
LESSOR and ALBANY BANK AND TRUST hereinafter referred to as LESSEE.
WITNESSETH
The Lessor hereby rents and leases to the Lessee, upon the terms and
conditions set forth in this instrument, the following described property, to
wit:
ONE 28 X 80 DCA APPROVED MODULAR BANK UNIT
One (1) fifteen-foot (15') laminated teller line with undercounter
pedestals
Five (5) offices as shown
Two (2) ADA approved restrooms
One (1) lounge with cabinets
Eight (8) foot drive-up window with deal drawer and heater
Furniture as shown Valance Window Treatments
Lease price $3,650.00 a month for twelve (12) months ($43,800.00) to be paid in
two payments of $21,900. Renewal will be on a month to month basis at $3,850.00
per month. This price does not include applicable taxes.
OTHER EXPENSES
Freight to Albany $1,325.00
Block, Level and Tie Down $3,950.00
Underpinning, ready for backfill $2,375.00
Return Freight $2,390.00
Dismantle
Site work
Canopies
Insurance
Utilities
Taxes
The term of this lease shall be for a period of twelve (12) months
commencing on the date of delivery of the described property to the location as
designated by the Lessee. At the expiration of the original term the Lessee
shall have the option to renew the lease on a month basis under the same terms,
conditions and provisions hereof, provided Lessee is not in default under any
of the terms or conditions and provisions hereof, provided Lessee is not in
default under any of the terms or conditions of this lease. If lessee elects to
exercise such option, he shall do so by giving written notice of such election
to Lessor not later than sixty (60) days prior to expiration of the original
term.
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After the election to renew is exercised by the Lessee then in order
to terminate said lease, Lessee shall give Lessor written notice of termination
not less than sixth (60) days prior to said termination.
In consideration of said lease agreement, Lessee agrees to pay Lessor
rental as follows:
LEASE AMOUNT IS $3,650.00 (THREE THOUSAND SIX
HUNDRED FIFTY DOLLARS) PER MONTH ON A TWELVE MONTH
BASIS, TO BE MADE IN TWO PAYMENTS OF $21,900.00.
FIRST PAYMENT IS DUE FEBRUARY 1, 1999, 2ND PAYMENT
DUE ON AUGUST 1, 1999. THIS PRICE DOES NOT INCLUDE
ANY APPLICABLE TAXES. AFTER TWELVE (12) MONTHS THE
LEASE WILL BE ON A MONTH TO MONTH BASIS.
The Lessee is responsible for cost of property's tie down and
blocking, as well as, REMOVAL AND RETURN OF PROPERTY to Lessor. Rental payment
shall be delivered or mailed to Lessor at X.X. Xxx 0000, Xxxx, Xxxxxxx
00000-0000, or such other place as may be designated by Lessor.
Lessee shall not, without the prior written consent of Lessor endorsed
hereon, assign this lease or any interest hereunder, or sublet the premises or
any part thereof, or permit the use of the premises by any party other than
tenant.
The Lessors, their agents, servants, or employees, may at all
reasonable times enter upon and inspect the demised premises.
Lessee further agrees that upon termination of this lease, Lessee
shall surrender quiet and peaceful possession of the premises in like good
order as at the commencement of said term, natural wear and tear expected.
Lessee accepts the leased property and personal property in its
present condition, as is. Lessee shall, throughout the initial term of this
lease and all renewals thereof, at its expense, maintain in good order and
repair the leased property, including all personal property leased herein,
except those repairs expressly required to be made by Lessor. Lessee agrees to
return said leased property to Lessor at the expiration of this lease in as
good condition and repair as when first received, natural wear and tear, damage
by storm, fire, lightning earthquake or other casualty alone excepted. Approval
of Lessor is required prior to making repairs to the leased property.
In the event said property is destroyed or becomes untenantable due to
loss or damage, this lease shall terminate on the date of such destruction,
loss or damage and all liability of Lessee for rent shall cease. Lessee shall,
however, take necessary steps to preserve and protect said property from
further damage until Lessor has had a reasonable opportunity to retake
possession.
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Lessor assumes no responsibility for the security of the property of
Lessee, its agents, servants, employees, invitees, guest, customers, creditors,
depositors, or any other person or entity. It is expressly understood and
agreed that it shall be the sole responsibility of the Lessee to provide all
measures of security.
Lessee shall promptly pay when due all taxes and charges levied
against the leased property to the State of Georgia or any state, municipality,
or county therein or agency of subdivision thereof. In the event that Lessee
fails or refuses to pay said taxes and charges before the same become
delinquent, Lessor may, at its option, pay said taxes and charges, together
with any penalty levied against or interest charged upon the same, and may add
the amount so paid to the rent accrued or thereafter accruing.
The property is, and shall at all times, remain, personal property,
notwithstanding that it or any part of it may now be, or hereafter become, in
any manner attached to, or embedded in, or permanently resting on, real
property, or attached in any manner to what is permanent by whatever means.
Lessee shall procure and maintain insurance on the personal property
leased herein, as well as insurance on its contents, any improvements made by
Lessee, including fire and extended coverage, during the term of this Lease.
Lessee shall procure and maintain throughout the term of this lease a policy of
insurance at its sole cost and expense, insuring Lessee, Lessor and all other
person designated by Lessor against any and all liability for injury to or
death to a person, or persons, and for damage or destruction of property
occasioned by or arising out of or in connection with the use and occupancy of
the leased property or by the condition of the leased property, the limits of
with respect to injuries to or death of any one person, and in the amount of
not less than $1,000,000.00 in respect to any one accident or disaster, and in
an amount of not less than $150,000.00 with respect to property damaged or
destroyed, or with such other limits as may be required by Lessor, and to be
written by an insurance company or companies satisfactory to Lessor.
Lessee agrees to protect and save Lessor harmless from any and all
liability for any damage whatsoever to property of Lessee, its servants,
agents, employees, invitees or guest, or for injuries, including death, to any
of the servants, agents, employees, invitees or guests of Lessee, during the
term of this lease occasioned by or resulting from any carelessness, negligence
or improper conduct on the part of the Lessee. Lessee further agrees to
indemnify and save harmless Lessor against all claims for damage to
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person or property by reason of the use or occupancy of the leased property,
and all expenses incurred by Lessor because thereof, including attorney's fees
and court costs.
In the event of the Lessee, its successors or assigns should their
interest herein by levied upon or should the bank be closed or taken over by
the banking regulatory authority then in any of those events, the Lessor may
terminate this lease. The termination under this paragraph shall only be
effectuated with the approval of such banking authority and such authority
shall have the right to continue the lease at its election and under the same
terms and conditions set out herein.
All written notices shall be made by the party responsible to the
other party by the United States Mail. Postage prepaid, and shall be deemed to
have been made when deposited in the post office correctly addressed to the
respective part. The address of the Lessor shall be BANK & BUSINESS SYSTEMS,
INC., X.X. Xxx 0000, Xxxx, XX 00000-0000. The address of the lessee shall be:
ALBANY BANK AND TRUST, X.X. XXX 00, XXXXXX, XX 00000, either party.
Time is of the essence of this agreement. The laws of the State of
Georgia shall govern the interpretation, validity, and enforcement of this
lease. This lease contains the entire agreement of the parties hereto and no
representations, inducements, promises, or agreements, oral or otherwise,
between the parties, not embodied herein, shall be of any force or effect. If
any portion, hereof shall be held invalid or unenforceable by any court of
competent jurisdiction, such holding shall not invalidate or render
unenforceable any other provision hereof.
This lease shall be binding upon the parties hereto, their successors
and assigns.
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IN WITNESS WHEREOF, the parties hereunto set their hands and seals on the day
and year first above written.
LESSOR:
BANK & BUSINESS SYSTEMS, INC.
BY: SIGNATURE ILLEGIBLE
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TITLE: PRESIDENT
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ATTEST: SIGNATURE ILLEGIBLE
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TITLE: VICE PRESIDENT
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LESSEE:
ALBANY BANK AND TRUST
BY: /S/ XXXXXX X. XXX
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TITLE: PRESIDENT
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ATTEST:
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TITLE:
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