EXHIBIT 10.9
STATE OF GEORGIA SUBLEASE
COUNTY OF XXXX
THIS SUBLEASE is made and entered into this 15th day of March, 1999 by
and between The Banker Bank, hereinafter referred to as "Sublessor" and Commerce
Bank, hereinafter referred to as "Sublessee";
THAT WHEREAS, Sublessor is presently leasing certain premises from
Builders Insurance, a Mutual Captive Company ("Overlessor") under a lease dated
October 31, 1996, as amended (the "Xxxxxxxxx"), such premises being known as
Suite 150 (the "Premises"), containing approximately 4,450 usable square feet of
floor area in the building located at 0000 Xxxxx Xxxxx Xxxx, Xxxxxxx, Xxxxxxx
(the "Building"); and
WHEREAS, Sublessor has agreed to sublease to Sublessee and Sublessee
has agreed to sublease from Sublessor 1,300 usable square feet of floor area
(the "Sublet Premises") in accordance with the terms and conditions hereinafter
set forth;
NOW THEREFORE, in consideration of the foregoing premises and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1. Sublease. Sublessor leases to Sublessee and Sublessee subleases from
Sublesor the Sublet Premises for a term that begins on March 15, 1999 (the
"Commencement Date") and extends through March 14, 2000 (the "Termination Date")
2. Rental. Sublessee shall pay rental to Sublessor for the Sublet Premises
beginning March 15, 1999 in the amount of Two Thousand Three Hundred Sixty-one
and 67/100 Dollars ($2,361.67) per month. The rental shall be due and payable on
the fifteenth (15th) day of each month beginning March 15, 1999.
3. Sublessee Improvements. Sublease agrees to pay $3,803.00 to sublessor
for improvements made to the Sublet premises.
4. Indemnity. Sublessee does hereby indemnify and hold harmless Sublessor
and Overlessor from and against any and all claims for bodily injury, including
death, and property damage or any other cost or expense occurring in or about
the Sublet Premises or resulting from the occupancy of the Sublet Premises by
Sublessee.
5. Terms of Lease. This Sublease, except as specifically provided herein,
shall be subject to the terms and condition of the Xxxxxxxxx as if said
Sublessor were the Landlord therein and Sublessee were the Tenant therein. A
copy of the Xxxxxxxxx is attached hereto as Exhibit B and incorporated herein by
reference. Sublessee shall have no renewal option,
expansion option, buyout and termination option or rights of first or second
refusal. Sublessee shall be responsible for and shall pay to Sublessor the
rental provided herein. Sublessee shall also pay it proportionate share of all
charges provided for in the Xxxxxxxxx including without limitation additional
rent based on increases in the Operating Cost of the Building, based on the
proportion that the usable square footage of the Sublet Premises bears to the
usable square footage of the Premises.
6. Sublessor Warranty. Sublessor warrants that the Xxxxxxxxx is in full
force and effect and that to the best knowledge of Sublessor there exists no
defaults on the part of the Overlessor or Sublessor. Sublessor warrants that
during the term of this Sublease that Sublessor will comply with the Xxxxxxxxx
and make all payments to Overlessor required thereunder and will commit no
defaults thereunder, and Sublessor shall indemnify Sublessee and hold Sublessee
harmless from any liability, loss, cost or expenses incurred by Sublessee
resulting from Sublessor's breach of the foregoing warranty.
7. Sublessee Warranty. Sublessee warrants to Sublessor that it will make
all payments required under the Sublease and abide by and perform all
obligations thereunder and commit not default under the Sublease or the
Xxxxxxxxx and that Sublease shall indemnify Sublessor and hold it harmless from
any liability, loss, cost or expense resulting from Sublessee's breach of this
warranty.
SUBLESSEE ATTEST
COMMERCE BANK
BY:/s/ Xxxx Xxxxxxxxxxx /s/ Xxxxx Xxxxxx
------------------------- -------------------------
TITLE: Chairman
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SUBLESSOR ATTEST
THE BANKERS BANK
BY: ---------------------------- -------------------------
TITLE: -------------------------
STATE OF GEORGIA CONSENT OF LANDLORD
COUNTY OF XXXX
Builders Insurance, a Mutual Captive Company, Overlessor ("Landlord")
under the Xxxxxxxxx of the premises described in the Sublease Agreement attached
hereto, does hereby consent to the said Sublease upon the express condition that
Sublessor shall remain fully liable and responsible for all terms and conditions
of the Xxxxxxxxx and nothing in the Sublease shall operate to allow any default
under the Xxxxxxxxx.
This is the ______ day of April, 1999.
WITNESS: Builders Insurance, a Mutual Captive Company
BY:
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General Partner
