ASSET PURCHASE AGREEMENT among CAROLINA FINANCIAL CORPORATION, CRESCENT MORTGAGE COMPANY, a Delaware corporation COMMUNITY FIRSTBANK and CRESCENT MORTGAGE SERVICES, INC., a Georgia corporation Dated as of November 3, 2003Asset Purchase Agreement • November 5th, 2003 • Crescent Banking Co • State commercial banks • Georgia
THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of November 3, 2003, among Carolina Financial Corporation, a Delaware corporation (“Carolina”), and its wholly owned subsidiary that is being organized, Crescent Mortgage Company, a Delaware corporation (“Newco,” and together with Carolina, “Purchaser”), Community FirstBank of Charleston, a South Carolina bank (“FirstBank”), joining in the Agreement solely for the limited purposes set forth in Sections 1.1(a) and 1.1(b), Section 1.3(b) and Section 12.2, and Crescent Mortgage Services, Inc., a Georgia corporation (“Seller”).
