EXHIBIT 10.1.6
SECOND AMENDMENT TO GROUND LEASE
This Second Lease Amendment is made this _______ day of August, 1997, by
and between Xxxx X. Xxxxx, Lessor, and Inland Northwest Bank, Lessee.
WHEREAS the parties entered into a Ground Lease dated September 24, 1996,
for the lease by the Lessor to the Lessee of certain real property described on
Exhibit "A" to said lease and incorporated herein by this reference; and
WHEREAS the parties made a Lease Amendment regarding the initial term and
option periods of the lease; and
WHEREAS the parties desire to further amend the Lease to provide for a
right of first refusal by the Lessee, the following is set forth as additional
covenants of the ground lease.
1. Xxxx X. Xxxxx and Inland Northwest Bank hereby agree that Inland
Northwest Bank shall have a first right of refusal to purchase the real property
described on Exhibit "A", under the following terms and conditions.
2. During the term of this lease or any option to renew which has been
exercised by Lessee, and in the further event that Lessee is not then in
default under any material term of the lease, lessee shall have the right to
purchase the premises on the same terms and conditions as any bona fide offer
received from a third party by the
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Lessor which offer the Lessor intends to otherwise accept. If and in the event
the Lessor receives a bona fide third party offer for purchase on terms
acceptable to the Lessor, Lessor shall within seven days, provide a notice to
Lessee of the purchase price, terms and conditions of the offer. Lessee shall
have fourteen (14) days from the date of mailing of notice to Lessee, to deliver
written Notice of Intent to exercise right of first refusal, to Lessor. If and
in the event that the third party offer includes a 1031 Exchange or other
payment in kind, Lessee may exercise the right of first refusal and purchase the
property on identical terms or in payment of cash equivalent of the exchange.
In the event Lessee properly gives written notice of intent to exercise
right of first refusal, then closing shall occur within thirty (30) days of
notice to Lessor or such later time as may be mutually agreed in writing by and
between the parties.
3. Nothing herein shall create an option to purchase by Lessee.
4. If and in the event the Lessee receives notice of bona fide third
party offer from Lessor and in the further that Lessee does not deliver written
notice to Lessor within fourteen (14) days of mailing that Lessee intends to
exercise said right, then Lessor shall be free to consummate the sale
transaction with the third party. In
the event the sale transaction is not consummated, this right of first refusal
shall survive during the remainder of the term of the lease and options to
renew, but not otherwise.
5. The rights and duties as set forth above shall be binding on the heirs,
successors and assigns of each party.
/s/ Xxxx X. Xxxxx
________________________________________
XXXX X. XXXXX
INLAND NORTHWEST BANK
/s/ Xxxxxxxxx X. Xxxxxxxx
________________________________________
By:_____________________________________
Its:____________________________________
STATE OF WASHINGTON )
) ss.
County of Spokane )
I certify that I know or have satisfactory evidence that XXXX X. XXXXX
signed this instrument and acknowledged it to be his free and voluntary act for
the uses and purposes mentioned in the instrument.
DATED this 12 day of August, 1997.
----
/s/
________________________________________
Notary Public in and for
the State of Washington
Residing at Spokane.
My Commission Expires: 11-18-98
____________
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STATE OF WASHINGTON )
) ss.
County of Spokane )
I certify that I know or have satisfactory evidence that Xxxxxxxxx X.
Xxxxxxxx signed this instrument, on oath stated that he/she was authorized to
execute the instrument and acknowledged it as the President of Inland Northwest
Bank to be the free and voluntary act of such party for the uses and purposes
mentioned in the instrument.
DATED this 7th day of August, 1997.
[NOTARY SEAL OF A. XXXX XXXX] /s/ A. Xxxx Xxxx
------------------------------------
Notary Public in and for
the State of Washington
Residing at Spokane.
My Commission Expires: 9-12-98
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