EXHIBIT 10.4
LEASE
This Lease is made on April 1, 1999
BETWEEN Monmouth Community Bank
Whose address is 000 Xxxxxx Xxxxxx, Xxxx Xxxxxx, Xxx Xxxxxx 00000
Referred to as the "Tenant",
AND MCB Associates, L.L.C.
whose address is 0 Xxxx Xxx Xxxxx, Xxxx Xxxxxx, Xxx Xxxxxx 00000
referred to as the "Landlord."
Property. The Tenant agrees to rent from the Landlord and the Landlord
agrees to lease to the Tenant the property known as: 6 West End Court
Referred to as the "Property."
Term. The term of this lease is for five (5) years commencing April 1, 1999
and ending on March 31, 2004. The Landlord is not responsible if the Landlord
cannot give the Tenant possession of the Property at the start of this Lease.
However, rent will only be charged from the date on which possession of the
Property is made available to the Tenant. If the Landlord cannot give possession
within 30 days after the starting date, the Tenant may cancel this Lease.
Rent. The Tenant agrees to pay $10.00 per sq. ft. at 420 square feet as
rent, to be paid as follows: $350.00 per month, due on the 1st day of each
month. The first payment of rent and any security deposit is due upon the
signing of the Lease by the Tenant. The Tenant must pay a late charge of $1.00
as additional rent for each payment that is more than 10 days late. This late
charge is due with the monthly rent payment.
Use of Property. The Tenant may use the Property only for the following
purpose(s): A bank and associated services.
Eviction. If the Tenant does not pay the rent within 15 Days after it is
due, the Tenant may be evicted. The landlord may also evict the Tenant if the
Tenant does not comply with all of the terms of this Lease and for all other
causes allowed by law. If evicted, the Tenant must continue to pay the rent for
the rest of the term. The Tenant must also pay all costs, including reasonable
attorney fees, related to the eviction and the collection of any moneys owed the
Landlord, along with the cost of re-entering, re-renting, cleaning and repairing
the property. Rent received from any new tenant will reduce the amount owed the
Landlord.
Payments by Landlord. If the Tenant fails to comply with the terms of this
Lease, the Landlord may take any required action and charge the cost, including
reasonable attorneys fees, to the Tenant. Failure to pay such costs upon demand
is a violation of this Lease.
Care of the Property. The Tenant has examined the Property, including all
facilities, furniture and appliances, and is satisfied with its present
condition. The Tenant agrees to maintain the property in as good condition as it
is at the start of this Lease except for ordinary wear and tear. The tenant must
pay for all repairs, replacements and damages caused by the act or neglect of
the Tenant or the Tenant's visitors. The Tenant will remove all of the Tenant's
property at the end of this Lease. Any property that is left becomes the
property of the Landlord and may be thrown out.
Quiet Enjoyment. The Tenant may remain in and use the Property without
interference subject to the terms of the Lease.
Validity of Lease. If a clause or provision of this Lease is legally
invalid, the rest of this Lease remains in effect.
Parties. The Landlord and each of the Tenants are bound by this Lease. All
parties who lawfully succeed to their rights and responsibilities are also
bound.
Entire Lease. All promises the Landlord has made are contained in this
written Lease. This Lease can only be changed by an agreement in writing by both
the Tenant and the Landlord.
Signatures. The Landlord and the Tenant agree to the terms of this Lease.
If this Lease is made by a corporation, its proper corporate officers sign and
its corporate seal is affixed.
WITNESSED OR ATTESTED BY: MBC ASSOCIATES, L.L.C.
/s/ Xxxxxxxx Xxxxx /s/ Xxxx Xxxxxxxxxx
--------------------------- ------------------------------------(Seal)
By: XXXX XXXXXXXXXX, Manager Landlord
MONMOUTH COMMUNITY BANK
/s/ Xxxxxxxx Xxxxx /s/ Xxxxxxx Xxxxxxx
--------------------------- ------------------------------------(Seal)
By: XXXXXXX XXXXXXX, President and CEO
ADDENDUM TO LEASE
-----------------
This addendum is made on this 15th day of July, 2000 to Lease dated April 1,
1999 between Monmouth Community Bank and MCB Associates, L.L.C., whereby
Monmouth Community Bank agrees to rent additional space at 0 Xxxx Xxx Xxxxx,
Xxxx Xxxxxx, Xxx Xxxxxx, consisting of two second floor adjoining offices, for a
total of 285 square feet, at $10.00 per square foot, under the same terms and
conditions as the original Lease to which this addendum is made a part hereof.
WITNESSED OR ATTESTED BY: MCB ASSOCIATES, L.L.C.
/s/ Xxxxxxxx Xxxxxx /s/ Xxxx Xxxxxxxxxx
--------------------------- ------------------------------------(Seal)
BY: XXXX XXXXXXXXXX
Manager Landlord
MONMOUTH COMMUNITY BANK
/s/ Xxxxxxxx Xxxxxx /s/ Xxxxx Xxxxxxx
--------------------------- ------------------------------------(Seal)
BY: XXXXX XXXXXXX, CEO
ADDENDUM TO LEASE
-----------------
This addendum is made on this 1ST day of April, 2000 to Lease dated April 1,
1999 between Monmouth Community Bank and MCB Associates, L.L.C., whereby
Monmouth Community Bank agrees to rent additional space at 0 Xxxx Xxx Xxxxx,
Xxxx Xxxxxx, Xxx Xxxxxx, consisting of a second floor adjoining office, for a
total of 210 square feet, at $10.00 per square foot, under the same terms and
conditions as the original Lease to which this addendum is made a part hereof.
WITNESSED OR ATTESTED BY: MCB ASSOCIATES, L.L.C.
/s/ Xxxx Xxxxxxxxxx
--------------------------- ------------------------------------(Seal)
BY: XXXX XXXXXXXXXX
Manager Landlord
MONMOUTH COMMUNITY BANK
/s/ Xxxxxxxx Xxxxxx /s/ Xxxxxxx X. Xxxxxxx
--------------------------- ------------------------------------(Seal)
BY: XXXXXXX X. XXXXXXX, President
& CEO
ADDENDUM TO LEASE
This addendum is made on this 1ST day of November, 1999 to Lease dated April 1,
1999 between Monmouth Community Bank and MCB Associates, L.L.C., whereby
Monmouth Community Bank agrees to rent additional space at 0 Xxxx Xxx Xxxxx,
Xxxx Xxxxxx, Xxx Xxxxxx, consisting of a second floor adjoining office, for a
total of 549 square feet, at $10.00 per square foot, under the same terms and
conditions as the original Lease to which this addendum is made a part hereof.
WITNESSED OR ATTESTED BY: MCB ASSOCIATES, L.L.C.
/s/ Xxxxxxxx Xxxxx /s/ Xxxx Xxxxxxxxxx
--------------------------- ------------------------------------(Seal)
By: XXXX XXXXXXXXXX, Manager Landlord
MONMOUTH COMMUNITY BANK
/s/ Xxxxxxxx Xxxxx /s/ Xxxxxxx Xxxxxxx
--------------------------- ------------------------------------(Seal)
By: XXXXXXX XXXXXXX, President and CEO
ADDENDUM TO LEASE
This addendum is made on this 1ST day of February, 2000 to Lease dated April 1,
1999 between Monmouth Community Bank and MCB Associates, L.L.C., whereby
Monmouth Community Bank agrees to rent additional space at 0 Xxxx Xxx Xxxxx,
Xxxx Xxxxxx, Xxx Xxxxxx, consisting of a second floor adjoining office, for a
total of 88 square feet, at $10.00 per square foot, under the same terms and
conditions as the original Lease to which this addendum is made a part hereof.
WITNESSED OR ATTESTED BY: MCB ASSOCIATES, L.L.C.
/s/ Xxxxxxxx Xxxxx /s/ Xxxx Xxxxxxxxxx
--------------------------- ------------------------------------(Seal)
By: XXXX XXXXXXXXXX, Manager Landlord
MONMOUTH COMMUNITY BANK
/s/ Xxxxxxxx Xxxxx /s/ Xxxxxxx Xxxxxxx
--------------------------- ------------------------------------(Seal)
By: XXXXXXX XXXXXXX, President and CEO
