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EXHIBIT 10.2
ADDENDUM OF
LEASE AGREEMENT
MAY 31, 2000
BY AND BETWEEN
REM, LLC,
AND
COMMUNITY BANK
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ADDENDUM TO LEASE AGREEMENT AND LOAN AGREEMENT
This Addendum made and entered into on this 31st day of May, 2000 by
and between REM, LLC, an Alabama limited liability company ("REM") and Community
Bank, an Alabama banking corporation ("Bank").
WITNESSETH:
WHEREAS, REM and Bank have entered into a Loan Agreement (the "Loan
Agreement") and a Lease Agreement (the "Lease"), each dated May 31, 2000; and
WHEREAS, the parties thereto desire to modify such agreements as set
forth herein;
NOW, THEREFORE, in consideration of the premises the parties hereto
agree as follows:
1. Notwithstanding Paragraph 2(d) of the Loan Agreement and Paragraph 7 of
the Lease, Bank shall maintain and continue in force throughout the
term of the Lease Fire and Extended Coverage Insurance upon the leased
premises and General Liability Insurance against any and all claims for
injuries to person and property occurring in, upon, about or from the
leased premises, which insurance shall name REM as an additional
insured.
2. Bank shall pay to REM the amounts listed in Paragraph 4, including
amounts listed in Paragraph 4(b) of the Lease for insurance, but REM
shall quarterly reimburse Bank the amount of the insurance premium
which is included in payments made by Bank under Paragraph 4(b) of the
Lease.
3. The provisions of the Loan Agreement and Lease shall remain in full
force and effect unchanged except as provided above.
IN WITNESS WHEREOF, the parties have caused this Addendum to be
executed by their duly authorized representatives as of the day and year first
above written.
REM, LLC COMMUNITY BANK
By: /s/ Xxxxx Xxxxxxx Dollar By: /s/ Xxxxxx X. Xxxxxx, Xx.
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Its: Operating Member Its: Senior Executive Vice President
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