Seventh Amendment to Lease Agreement
Dated Effective July 11, 2002, Between
S & A Properties II, Inc. a Louisiana Corporation
and MidSouth National Bank
This Seventh Amendment to Lease Agreement (this
"Seventh Amendment") is executed on the
dates noted below, but is effective as of July 1, 2002, by and
between S & A Properties II, Inc., as "Owner", having an
address at 0000 Xxxxxxxxx Xxxxxx, Xxxxx 0 X, Xxxxx Xxxxx,
Xxxxxxxxx, and MidSouth National Bank, as "Lessee", having
address at 000 Xxxxxxxxxx Xxxx., Xxxxx 000, Xxxxxxxxx, XX 00000.
Recitals:
Pursuant to a Lease Agreement between Lessee, as
tenant, and Southwest National Bank Building Limited
Partnership, as building owner, dated Decembers, 1991 (the
"Original Lease"), which is recorded in the records of the Clerk of
Court for Lafayette Parish, Louisiana, under File No. 91-038121,
Lessee leased certain space in the building known as Versailles
Center located at 000 Xxxxxxxxxx Xxxxxxxxx, Xxxxxxxxx, Xxxxxxxxx
(the "Building").
Subsequent to execution of the Original Lease, the
Building was acquired by MBL Life Assurance Corporation
("MBL") who succeeded to the position of the landlord under the
Original Lease.
MBL and Lessee amended the Original Lease
pursuant to a First Amendment to Lease Agreement dated
effective as of November 1, 1994 (the "First Amendment").
Subsequent to execution of the First Amendment,
the Building was acquired by Owner, and Owner
succeeded to the position of the landlord under the Original
Lease, as modified by the First Amendment.
Owner and Lessee have further amended the Original
Lease pursuant to the Second Amendment to Lease Agreement
dated effective as of June 1, 1997 (the "Second Amendment"),
the Third Amendment to Lease Agreement dated effective as of
June 1, 1998 (the "Third Amendment"), the Fourth Amendment to
Lease Agreement dated effective as of January 1, 2000 (the
"Fourth Amendment"), the Fifth Amendment to Lease Agreement
dated effective as of January 1, 2002 (the "Fifth Amendment"),
and the Sixth Amendment to Lease Agreement dated effective as
of March 1, 2002 (the "Sixth Amendment").
The Original Agreement, as modified and supplemented
by the First Amendment, the Second Amendment, the Third
Amendment, the Fourth Amendment, the Fifth Amendment and
the Sixth Amendment, is hereinafter referred to as the "Lease
Agreement". The First Amendment, the Second Amendment, the
Third Amendment, the Fourth Amendment, the Fifth Amendment
and the Sixth Amendment, are hereinafter referred to collectively
as the "Amendments".
Agreement:
In consideration of the mutual covenants and agreements
below, Owner and Lessee agree to further amend and modify the
Lease Agreement as set forth below:
1. Premises. Item 1 of the Original Lease Agreement is
hereby amended to substitute 26,865 square feet of Rentable
Area (in the place of 23,730 square feet of Rentable Area,
which was the correct number at the time of the Sixth
Amendment), effective as of July 1, 2002, plus unrestricted
use of and access to all Common Areas by Lessee, its patrons,
visitors, employees, servants and agents, subject
only to reasonable control by Owner for the benefit
of all tenants, plus unrestricted and exclusive use of
the drive-through teller facilities on the outside of
the Building. In addition to the areas described as
included within the Premises in the Sixth Amendment,
paragraph 1, the Premises now include a portion of the
second floor (which is known as Suite 212) consisting of
812 square feet of Rentable Area and a portion of the eighth
floor (which is known as Suite 816) consisting of 2,323
square feet of Rentable Area, which are identified on
Exhibit "A" (consisting of two (2) pages) highlighted
in yellow, which is attached to and made part of this
Seventh Amendment.
2. Effective Date of Increase in Rent. The Rent due from
Lessee for the Premises shall increase
based on the additional Rentable Area added to the
Premises pursuant to paragraph 1 of this Seventh
Amendment, effective as of July 1, 2002, without regard
for whether Lessee completes the construction of its
leasehold improvements to said additional Rentable
Area (i.e., Suites 212 and 816), and occupies said
additional Rentable Area, before or after July 1, 2002.
3. Interpretation. Each amendment or
modification to the Original Lease Agreement contained in
the Amendments which is inconsistent with the
provisions of this Seventh Amendment are hereby
declared to be superseded by the terms and provisions
of this Seventh Amendment. In the event of any
conflict or inconsistency between the provisions of this
Seventh Amendment and any of the provisions of
the Lease Agreement, the provisions of this Seventh
Amendment shall in all respects govern and
control.
4. Authority to Commence Leasehold
Improvements. Although the addition of the Suites 212
and 816, as described in paragraph 1 above, to the
Premises leased pursuant to the Lease will not be
effective until July 1, 2002, Owner does hereby
authorize Lessee to begin making its leasehold
improvements to the additional Rentable Area (i.e., said
Suites 212 and 816) which is added to the
Premises under the terms of paragraph 1 of this
Seventh Amendment.
5. Nonatrornment Agreement from Owner's
Lender. Owner agrees to cooperate with Lessee in
an effort to,obtain a nondisturbance and attornrnent
agreement from any lender of Owner holding a
mortgage encumbering the Building, as collateral
security for indebtedness of Owner.
6. Ratification of Lease Agreement. Except as
modified herein, the Lease Agreement is hereby
ratified and confirmed in full. All terms, conditions and
provisions of the Lease Agreement shall remain in
full force and effect, except as expressly modified by
this Seventh Amendment.
IN WITNESS HEREOF, the parties have
executed this Amendment, under seal, as of the
effective date set forth above, by and through their duly
authorized representatives.
<"OWNER"> <"LESSEE">
S & A PROPERTIES II, INC. MIDSOUTH NATIONAL BANK
By: /s/ By: /s/ Xxxxx X. Xxxx
_____________________
Name: Name: Xxxxx X. Xxxx
Position: Position: Sr. Executive
Vice President
Date: July 11, 2002 Date July 10, 2002
