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EXHIBIT 10.30
FOURTH AMENDMENT TO LEASE
This Fourth Amendment to Lease ("Amendment"), dated as of this 22nd
day of December, 1997, by and between SIDLEY & AUSTIN, a general partnership
("Landlord"), and FRANKLIN NATIONAL BANK, a national banking association,
formerly NATIONAL ENTERPRISE BANK and ENTERPRISE BANK, NATIONAL ASSOCIATION
("Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant entered into that certain Lease dated
September 27, 1982, as amended by that certain First Amendment to Lease dated
December 27, 1984, that certain Second Amendment to Lease dated September 15,
1992, and that certain Third Amendment to Lease dated March 19, 1997
(collectively, the "Lease"), whereby Landlord leased certain premises to Tenant
as described therein upon certain terms and conditions described therein; and
WHEREAS, Tenant wishes to extend the term of its lease of certain
space from Landlord and Landlord wishes to extend the term of the lease of such
space to Tenant;
NOW, THEREFORE, for and in consideration of the foregoing premises
and other good and valuable consideration, the parties agree to amend the Lease
as follows:
1. Defined Terms. All capitalized terms, unless defined herein,
shall have the meaning and definitions set forth in the Lease.
2. Premises. The term "Premises" as used herein and in the Lease
shall mean and refer to that approximately 5,843 rentable square feet of area on
the lower retail level as identified on part of Exhibit A of the Lease and on
Exhibit A hereto, which area shall be hereinafter referred to as the "Extension
Space".
3. Term. The term of the lease of the Extension Space (the
"Extension Tenn") shall commence on January 1, 1998, and end, unless sooner
terminated pursuant to the provisions of the Lease, on December 31, 1998. The
"Term" as defined in the Lease shall mean and refer to the Term of the Lease as
amended therein and the Extension Term.
4. Base Rent. Tenant, in consideration for this Fourth Amendment
to Lease and the leasing of the Extension Space, in addition to all other rents
paid under the Lease, agrees to pay to Landlord a base annual rental for the
Extension Space ("Extension Space Base Rent") from January 1, 1998 through
December 31, 1998 of One Hundred Fifty-Nine Thousand Five Hundred Thirteen
Dollars and 90/100 ($159,513.90), payable in equal monthly installments of
Thirteen Thousand Two Hundred Ninety-two and 80/100 Dollars ($13,292.80) each;
all payments to be payable in advance and without demand, on the first day of
each calendar month during the Extension Term. The term Base Rent in the Lease
shall mean and refer to the Base Rent defined therein and the Extension Space
Base Rent as set forth in this paragraph, except that any rent escalation
provided in Paragraph 3.02 of the Lease shall not apply to the Extension Space
Base Rent.
5. Operating Expense Reimbursement. Effective on January 1,
1998, the Tenant Percentage (as defined in the Lease) shall be decreased by
subtracting therefrom the amount of three and twenty-two hundredths percent
(3.22%) (i.e., the amount equivalent to Tenant's proportionate share of
Operating Expenses for the Extension Space). Commencing on January 1, 1998, and
continuing as long as Tenant leases the Extension Space pursuant to this Fourth
Amendment or any renewal thereof, in addition to the amounts otherwise due under
Paragraph 3.03 of the Lease, Tenant shall pay Landlord an Operating Expense
Reimbursement (as defined in the Lease) for the Extension Space at a Tenant
Percentage of three and twenty-two hundredth percent (3.22%), but such payment
of the Tenant Percentage for the Extension Space shall be based on
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any increase of Operating Expenses (as defined in the Lease) over a Base Year of
1997. All other terms and provisions of Paragraph 3.03 of the Lease shall remain
in full force and effect.
6. Construction. Tenant agrees to lease the Extension Space on
an "as is" basis. Landlord is not obligated to make any improvements thereto.
7. Parking. Execution of this Fourth Amendment will not change
Landlord's allocation of parking spaces to Tenant under the Lease, provided that
Tenant or its customers or employees pay the monthly contract parking rate
established from time-to-time for each such space. Upon termination of this
Fourth Amendment (if such termination is earlier than the termination of the
Lease), Landlord will recapture from Tenant six (6) of the parking places now
allocated to Tenant under the Lease. All other provisions set forth in Paragraph
17.15 of the Lease shall apply to the parking privileges granted hereunder.
8. Renewal Option. Provided that Tenant is not in default under
the Lease and/or this Fourth Amendment at the time Tenant gives the notice
described herein or at any time thereafter until each renewal term commences,
Tenant shall have an annual option to renew the term of its lease of the
Extension Space for successive one-year terms until the Lease terminates on
December 31, 2001 or earlier according to its terms, subject to Landlord's right
to use the Extension Space as hereinafter provided. Tenant must exercise its
option for each annual renewal by providing Landlord written notice of its
intent to renew the term of the lease of the Extension Space for another January
1 through December 31, such notice to be delivered to Landlord no earlier than
April 1 and not later than August 1 during the year immediately preceding the
renewal year. Landlord shall have (30) days from Landlord's receipt of each such
notice to notify Tenant whether or not Landlord will permit such renewal of the
term of the lease of the Extension Space or whether Landlord intends to use the
Extension Space for Landlord's purposes such that Tenant may not renew the term
of the Lease of the Extension Space.
If Tenant is permitted to renew the term of its lease of the
Extension Space for another year or years, all terms and provisions of the Lease
and this Fourth Amendment shall remain unchanged and in full force and effect
except that the Extension Space Base Rent shall increase as follows:
ANNUAL MONTHLY
EXTENSION SPACE EXTENSION SPACE
YEAR BASE RENT BASE RENT
---- --------- ---------
January 1 - December 1, 1999 $ 164,299.31 $ 13,691.61
January 1 - December 1, 2000 169,228.28 14,102.36
January 1 - December 1, 2001 174,305.12 14,525.47
9. Full Force and Effect. All other terms and provisions of the
Lease as hereby amended are hereby ratified and confirmed, and shall remain in
full force and effect. All references to the Lease herein and in the Lease shall
mean and refer to the Lease as hereby amended.
IN WITNESS WHEREOF, Landlord and Tenant have set their hands the day
and year first above written.
LANDLORD:
SIDLEY & AUSTIN
By:
-----------------------------------
A Partner
TENANT:
ATTEST: FRANKLIN NATIONAL BANK
------------------------------ By:
Its: -----------------------------------
------------------------------- Its President
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