EARLY TERMINATION AGREEMENT
Exhibit 10.1
THIS EARLY TERMINATION AGREEMENT (the “Agreement”) is made as of March 15, 2024 (the “Effective Date”), by and between Jaytee-Springhurst, LLC (“Landlord”) and Republic Bank & Trust Company (“Tenant”).
WHEREAS, pursuant to that certain Office Lease dated August 1, 1999, by and between Jaytee Properties, a Kentucky general partnership (predecessor in interest to Landlord) and Tenant (as thereafter amended, the “Lease”), Landlord leased to Tenant, and Tenant leased from Landlord, space on the lower level (the “Lower Level Space”), first floor (the “First Floor Space”), second floor (namely, “Suite 200,” “Suite 240,” and “Suite 250”)(collectively, Suites 200, 240, and 250 are hereinafter collectively referred to as the “Second Floor Space”), and third floor (namely, “Suite 300,” “Suite 320,” and “Suite 330”) (collectively, Suites 300, 320, and 330 are hereinafter referred to as the Third Floor Space”) of the Republic Bank Building located at 0000 Xxxxxxxxxx Xxxx (the “Property”);
WHEREAS, the Lease terminates by its terms on July 31, 2024;
WHEREAS, Xxxxxx intends to enter into a new lease with respect to Suite 100 on the first floor, as well as the entire lower level, but does not wish to continue leasing Suite 200 or Suite 240 as of the Early Termination Date, and intends to allow the Lease to terminate by its terms on July 31, 2024 for the remaining leased space; and
WHEREAS, Xxxxxxxx is willing to allow Xxxxxx to surrender and vacate Suite 200 and Suite 240 and terminate the Lease with respect to Suite 200 and Suite 240 as of March 15, 2024 (the “Early Termination Date”), pursuant to the terms and conditions contained herein; and
WHEREAS, Xxxxxx is willing to surrender and vacate Suite 200 and Suite 240 and allow the Lease to be terminated on or before the Early Termination Date, pursuant to the terms and conditions contained herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows.
| 1. | Tenant shall vacate and surrender Suite 200 and Suite 240 on the Early Termination Date. |
| 2. | Tenant shall continue to pay Rent for Suite 250 as set forth in the Lease. |
| 3. | Landlord shall xxxxx all of Tenant’s Rent with respect to Suite 200 and Suite 240 beginning on the Early Termination Date. |
| 4. | Tenant shall, in consideration of Landlord abating Xxxxxx’s Rent with respect to Suite 200 and Suite 240, leave in Suite 200 and Suite 240 that furniture listed on Exhibit A attached hereto and made a part hereof. |
| 5. | Time is of the essence with respect to this Agreement. |
| 6. | Except as modified by this Agreement, the Lease shall continue in full force and effect. |
[signature page to follow]
IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date set forth above, but actually on the dates set forth below.
LANDLORD:
JAYTEE-SPRINGHURST, LLC
By: /s/ Xxxxxx X. Xxxxxx
Name: Xxxxxx X. Xxxxxx, Member
Date: 3/15/2024
By: Makbe, LLC
By: /s/ Xxxxxxx Xxxxxx-Xxxxxx
Name: Xxxxxxx Xxxxxx-Xxxxxx
Date: 3/15/2024
By: /s/ Xxxxxx Xxxxxx-Xxxxxx
Name: Xxxxxx Xxxxxx-Xxxxxx
Date: 3/16/2024
By: /s/ Xxxxx Xxxxxx
Name: Xxxxx Xxxxxx
Date: 3/15/2024
By: /s/ Xxxxx Xxxxxx
Name: Xxxxx Xxxxxx
Date: 3/15/2024
By: /s/ Xxxxx Xxxxxx
Name: Xxxxx Xxxxxx
Date: 3/18/2024
TENANT:
Republic Bank & Trust Co.
By: /s/ Xxxxx Xxxxx
Name: Xxxxx Xxxxx
Date: 3/15/2024
Exhibit A
[insert list of furniture to stay]
