ADDENDUM TO LEASE
ADDENDUM
TO LEASE
LET
THIS SERVE AS AN ADDENDUM
TO THE LEASE ENTERED INTO ON January
23, 2002
BY AND BETWEEN Hallandale
Place, Ltd. (as
"Landlord") and Commercial
Bank of Florida
(as
"Tenant"), having its place
of
business
at
0000
X. Xxxxxxxxxx Xxxxx Xxxxxxxxx, Xxxxxxxxxx, XX 00000.
IN
THE EVENT this
Addendum conflicts with any provision of the Lease, the terms and conditions
of
the Addendum shall prevail.
NOW
THEREFORE,
in
consideration of
the
premises mutually exchanged
herein and other good and valuable
consideration, the adequacy and receipt of which is hereby acknowledged by
both
parties, it is agreed
as
follows:
1.
The
Landlord and the Tenant have agreed to
extend the term of the referenced Lease for an additional Five (5) years,
commencing February 1, 2007 and ending January 31, 2012.
2.
The base rent will be $27.00 per square foot in Year One (1) of this
extension.
3.
Thereafter,
the base rent will be subject to an annual CPI increase of
no
less then Four Percent (4%)
and
no more then
Six
Percent (6%).
4.
The
common area maintenance, insurance, and real estate taxes shall be paid and
shall adjust according to the Lease
documents.
5.
All
other
terms and conditions of
the
original Lease Agreement shall
remain in full force and effect.
LET
THIS ADDENDUM be attached and become a part of the Lease dated
January
23, 2002,
by and between
Hallandale
Place, Ltd.
(as "Landlord"), and Commercial
Bank of Florida
(as "Tenant"). All other
terms and
conditions of said Lease
shall remain the same.
IN
WITNESS WHEREOF
this
Addendum has,
been
duly executed by both parties hereto on this 4
day
of
December,
2006.
| Signed, sealed and delivered in the presence of: | LANDLORD: hallandale Place, Ltd. | ||
| /s/ Xxxx Xxxxxxxxx | |||
| BY: Hallandale Place, LLC, General Partner | |||
| BY: Xxxx Xxxxxxxxx, Partner | |||
| TENANT: Commercial Bank of Florida | |||
| /s/ Xxxxx Xxxxxxxxxxx | |||
| BY: Xxxxx Xxxxxxxxxxx, President | |||
