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EXHIBIT 10.30
THIS ESOP NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION
THEREFROM.
ESOP NOTE
$500,000 January 20, 1998
FOR VALUE RECEIVED, the undersigned, RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK OWNERSHIP TRUST ("Borrower"), promises to pay to the
order of RESOURCE BANCSHARES MORTGAGE GROUP, INC. ("Lender") the principal sum
of Five Hundred Thousand and no/100 Dollars ($500,000.00) together with interest
thereon described herein, in accordance with the terms and conditions of that
certain ESOP Loan and Security Agreement by and between Borrower and Lender,
dated May 3, 1996 ("Loan Agreement"). Xxxxxxxx also promises to pay interest on
the unpaid principal balance hereof, commencing as of the date of disbursement
of funds hereunder, at the rate of 7.00% per annum.
The principal amount of this Note shall be due and payable in five
equal annual installments of $100,000, on the anniversary date of this Note
occurring in each of the succeeding five years following the date of this Note.
Accrued interest shall be payable in arrears at the same time that payments of
principal are made.
Borrower waives presentment for payment, demand, notice of nonpayment,
notice of protest and protest of this Note, and all other notices in connection
with the delivery, acceptance, performance, default, dishonor or enforcement of
the payment of this Note or by the Loan Agreement, and shall not be in any
manner affected by any extension of time, renewal, waiver or modification
granted or consented by Lender. Borrower consents to any and all extensions of
time, renewals, waivers or modifications that may be granted by Lender with
respect to payment or other provisions of this Note and the Loan Agreement, and
to the release of any property now or hereafter securing this Note with or
without substitution.
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This Note is the ESOP Note referred to in the Loan Agreement and is
entitled to all of the benefits and obligations specified in the Loan Agreement,
including but not limited to any Pledged Shares held as collateral. This Note is
without recourse to Borrower and is payable solely from the sources specified in
the Loan Agreement. Terms defined in the Loan Agreement are used herein with the
same meanings.
RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK
OWNERSHIP TRUST
By: MARINE MIDLAND BANK, TRUSTEE
By: s/ Xxxxxxx X. Xxxxxxx, Xx.
--------------------------------------------
Xxxxxxx X. Xxxxxxx, Xx., solely in his
capacity as authorized signer for the
Trustee of the Resource Bancshares Mortgage
Group, Inc. Employee Stock Ownership Trust,
and not in his individual capacity
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THIS ESOP NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION
THEREFROM.
ESOP NOTE
$499,975 April 1, 1998
FOR VALUE RECEIVED, the undersigned, RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK OWNERSHIP TRUST ("Borrower"), promises to pay to the
order of RESOURCE BANCSHARES MORTGAGE GROUP, INC. ("Lender") the principal sum
of Four Hundred Ninety Nine Thousand Nine Hundred Seventy Five and no/100
Dollars ($499,975.00) together with interest thereon described herein, in
accordance with the terms and conditions of that certain ESOP Loan and Security
Agreement by and between Borrower and Lender, dated May 3, 1996 ("Loan
Agreement"). Xxxxxxxx also promises to pay interest on the unpaid principal
balance hereof, commencing as of the date of disbursement of funds hereunder, at
the rate of 7.00% per annum.
The principal amount of this Note shall be due and payable in five
annual installments on the anniversary date of this Note occurring in each of
the succeeding five years following the date of this Note. The first four annual
principal installments shall be in the amount of $100,000, with the fifth annual
principal installment of $99,975. Accrued interest shall be payable in arrears
at the same time that payments of principal are made.
Borrower waives presentment for payment, demand, notice of nonpayment,
notice of protest and protest of this Note, and all other notices in connection
with the delivery, acceptance, performance, default, dishonor or enforcement of
the payment of this Note or by the Loan Agreement, and shall not be in any
manner affected by any extension of time, renewal, waiver or modification
granted or consented by Lender. Borrower consents to any and all extensions of
time, renewals, waivers or modifications that may be granted by Lender with
respect to payment or other provisions of this Note and the
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Loan Agreement, and to the release of any property now or hereafter securing
this Note with or without substitution.
This Note is the ESOP Note referred to in the Loan Agreement and is
entitled to all of the benefits and obligations specified in the Loan Agreement,
including but not limited to any Pledged Shares held as collateral. This Note is
without recourse to Borrower and is payable solely from the sources specified in
the Loan Agreement. Terms defined in the Loan Agreement are used herein with the
same meanings.
RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK
OWNERSHIP TRUST
By: MARINE MIDLAND BANK, TRUSTEE
By: s/ Xxxxxxx X. Xxxxxxx, Xx.
--------------------------------------------
Xxxxxxx X. Xxxxxxx, Xx., solely in his
capacity as authorized signer for the
Trustee of the Resource Bancshares Mortgage
Group, Inc. Employee Stock Ownership Trust,
and not in his individual capacity
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THIS ESOP NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION
THEREFROM.
ESOP NOTE
$499,984.88 July 1, 1998
FOR VALUE RECEIVED, the undersigned, RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK OWNERSHIP TRUST ("Borrower"), promises to pay to the
order of RESOURCE BANCSHARES MORTGAGE GROUP, INC. ("Lender") the principal sum
of Four Hundred Ninety Nine Thousand Nine Hundred Eighty Four and 88/100 Dollars
($499,984.88) together with interest thereon described herein, in accordance
with the terms and conditions of that certain ESOP Loan and Security Agreement
by and between Borrower and Lender, dated May 3, 1996 ("Loan Agreement").
Xxxxxxxx also promises to pay interest on the unpaid principal balance hereof,
commencing as of the date of disbursement of funds hereunder, at the rate of
7.00% per annum.
The principal amount of this Note shall be due and payable in five
annual installments on the anniversary date of this Note occurring in each of
the succeeding five years following the date of this Note. The first four annual
principal installments shall be in the amount of $100,000, with the fifth annual
principal installment of $99,984.88. Accrued interest shall be payable in
arrears at the same time that payments of principal are made.
Borrower waives presentment for payment, demand, notice of nonpayment,
notice of protest and protest of this Note, and all other notices in connection
with the delivery, acceptance, performance, default, dishonor or enforcement of
the payment of this Note or by the Loan Agreement, and shall not be in any
manner affected by any extension of time, renewal, waiver or modification
granted or consented by Lender. Borrower consents to any and all extensions of
time, renewals, waivers or modifications that may be granted by Lender with
respect to payment or other provisions of this Note and the
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Loan Agreement, and to the release of any property now or hereafter securing
this Note with or without substitution.
This Note is the ESOP Note referred to in the Loan Agreement and is
entitled to all of the benefits and obligations specified in the Loan Agreement,
including but not limited to any Pledged Shares held as collateral. This Note is
without recourse to Borrower and is payable solely from the sources specified in
the Loan Agreement. Terms defined in the Loan Agreement are used herein with the
same meanings.
RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK
OWNERSHIP TRUST
By: MARINE MIDLAND BANK, TRUSTEE
By: s/ Xxxxxxx X. Xxxxxxx, Xx.
--------------------------------------------
Xxxxxxx X. Xxxxxxx, Xx., solely in his
capacity as authorized signer for the
Trustee of the Resource Bancshares Mortgage
Group, Inc. Employee Stock Ownership Trust,
and not in his individual capacity
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THIS ESOP NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION
THEREFROM.
ESOP NOTE
$499,830.06 October 1, 1998
FOR VALUE RECEIVED, the undersigned, RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK OWNERSHIP TRUST ("Borrower"), promises to pay to the
order of RESOURCE BANCSHARES MORTGAGE GROUP, INC. ("Lender") the principal sum
of Four Hundred Ninety Nine Thousand Eight Hundred Thirty and 06/100 Dollars
($499,830.06) together with interest thereon described herein, in accordance
with the terms and conditions of that certain ESOP Loan and Security Agreement
by and between Borrower and Lender, dated May 3, 1996 ("Loan Agreement").
Xxxxxxxx also promises to pay interest on the unpaid principal balance hereof,
commencing as of the date of disbursement of funds hereunder, at the rate of
6.75% per annum.
The principal amount of this Note shall be due and payable in five
annual installments on the anniversary date of this Note occurring in each of
the succeeding five years following the date of this Note. The first four annual
principal installments shall be in the amount of $100,000, with the fifth annual
principal installment of $99,830.06. Accrued interest shall be payable in
arrears at the same time that payments of principal are made.
Borrower waives presentment for payment, demand, notice of nonpayment,
notice of protest and protest of this Note, and all other notices in connection
with the delivery, acceptance, performance, default, dishonor or enforcement of
the payment of this Note or by the Loan Agreement, and shall not be in any
manner affected by any extension of time, renewal, waiver or modification
granted or consented by Lender. Borrower consents to any and all extensions of
time, renewals, waivers or modifications that may be granted by Lender with
respect to payment or other provisions of this Note and the
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Loan Agreement, and to the release of any property now or hereafter securing
this Note with or without substitution.
This Note is the ESOP Note referred to in the Loan Agreement and is
entitled to all of the benefits and obligations specified in the Loan Agreement,
including but not limited to any Pledged Shares held as collateral. This Note is
without recourse to Borrower and is payable solely from the sources specified in
the Loan Agreement. Terms defined in the Loan Agreement are used herein with the
same meanings.
RESOURCE BANCSHARES MORTGAGE
GROUP, INC. EMPLOYEE STOCK
OWNERSHIP TRUST
By: MARINE MIDLAND BANK, TRUSTEE
By: s/ Xxxxxxx X. Xxxxxxx, Xx.
--------------------------------------------
Xxxxxxx X. Xxxxxxx, Xx., solely in his
capacity as authorized signer for the
Trustee of the Resource Bancshares Mortgage
Group, Inc. Employee Stock Ownership Trust,
and not in his individual capacity
