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                                                                    EXHIBIT 10.5

                             SHOPPING CENTER LEASE

                          NET BUILDING AND LAND LEASE


          Shopping Center:   NEPTUNE CITY SHOPPING CENTER
                             Route #35 & Third Avenue
                             Neptune City, New Jersey

                 Landlord:   NEPTUNE REALTY ASSOCIATES
                             26 Park Place West - 2nd Floor
                             Morristown, New Jersey 07960-3944

                   Tenant:   MONMOUTH COMMUNITY BANK
                             627 2nd Avenue
                             Long Branch, New Jersey 07740


                                 INDEX/ARTICLES

1.      Rental Space                               31.     Indemnity
2.      Use                                        32.     Eminent Domain
3.      Term                                       33.     Subordination
4.      Minimum Base Rental                        34.     Estoppel Certificate
5.      Real Estate Taxes                          35.     Tenant's Default
6.      Common Area Maintenance                    36.     Bankruptcy
7.      Security                                   37.     Fees and Expenses
8.      Additional Rent                            38.     Chronic Late Payments
9.      Delay in Give of Possession                39.     Recording
10.     Assignment or Subletting                   40.     Notices
11.     Continuous Operation                       41.     Holding Over
12.     Insurance                                  42.     No waiver
13.     Other Taxes                                43.     Failure to Open
14.     Acceptance of Rental Space                 44.     Survival
15.     Non-Liability of Landlord                  45.     End of Term
16.     Quiet Enjoyment                            46.     Exhibit "A"
17.     Utilities and Service                      47.     Pronouns
18.     Tenant's Repairs, Maintenance &            48.     Sale and Attornment
        Compliance                                 49.     Authority
19.     Landlord's Repairs & Maintenance           50.     Joint and Several
20.     Covenants Concerning Offensive Practices   51.     Marginal Headings
21.     Alterations by Tenant                      52.     Lien of Landlord
22.     Alterations by Landlord                    53.     Environmental
23.     Signs                                      54.     Interest
24.     Access to Rental Space                     55.     Confidentiality
25.     Fire and Other Casualty                    56.     Trial by Jury
26.     Waiver of Subrogation                      57.     Binding
27.     Exculpation of Landlord                    58.     No Changes
28.     Rules and Regulations                      59.     Additional Agreements
29.     Inability to Perform
30.     Sole Broker



ATTACHMENTS

Rider to Lease
Exhibit "A" - Site Plan
Exhibit "B" - Store Front Sign Specifications
Exhibit "C" - Percentage Rent - N/A
Exhibit "D" - N/A
Exhibit "E" - Lease Commencement Agreement
Guaranty


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                         SHOPPING CENTER LEASE AGREEMENT


            PLAIN LANGUAGE SHOPPING CENTER LEASE - CONSULT WITH YOUR
                       ATTORNEY BEFORE SIGNING THIS LEASE.

                THIS LEASE, MADE THIS 29TH DAY OF SEPTEMBER, 2000
                                      ----        ---------------

                                 BY AND BETWEEN

LANDLORD:                                          TENANT:
NEPTUNE REALTY ASSOCIATES                          MONMOUTH COMMUNITY BANK
A New Jersey Limited Partnership                   627 2nd Avenue
26 Park Place West - 2nd Floor                     Long Branch, New Jersey 07740
Morristown, New Jersey 07960-3944
(973) 538-7111 - FAX:  (973) 538-2116


THE LANDLORD AND THE TENANT AGREE TO LEASE THE RENTAL SPACE IN CONSIDERATION FOR
THE RENT,  TERM,  ADDITIONAL  RENT,  AND OTHER MUTUAL  COVENANTS AND  CONDITIONS
CONTAINED IN THIS AGREEMENT AS HEREBY  ACKNOWLEDGED  AND ACCEPTED BY THE PARTIES
AS FOLLOWS:

1.   RENTAL  SPACE:  Approximately  2,480 (+/-)  square feet  (hereafter  called
     "Rental Space") located at the Neptune City Shopping Center, Route 35 & 3rd
     Avenue,  Neptune City, New Jersey (Monmouth County),  (hereafter called the
     "Shopping Center") as shown on Exhibit "A",

2.   USE:  The Tenant  shall  only use and  occupy  the Rental  Space for A FULL
     SERVICE RETAIL AND COMMERCIAL  BANKING  FACILITY  INCLUDING A DRIVE-THROUGH
     WINDOW.

     The Landlord is leasing the Rental Space to the Tenantfor the  specific use
     stated  above.  Tenant agrees not to use the Rental Space for any other use
     or  unlawful or  hazardous  purpose.  Tenant  shall now use and operate its
     business in a manner  competitive  to any other  business  in the  Shopping
     Center or to harm the reputation of the Shopping Center.

3.   TERM:  The Term of this  Lease  shall be for a period  of THREE  (3)  YEARS
     unless sooner terminated as provided herein.

                   Beginning OCTOBER 1, 2000 and ending SEPTEMBER 30, 2003
                             ---------------            ------------------

     The Term is an  estimated  date for the  Beginning  and Ending dates of the
     Term.  Within ten (10) days after Landlord's  delivery of possession of the
     Rental Space to Tenant,  Landlord and Tenant shall  execute a  commencement
     agreement in the form attached hereto as Exhibit "E" confirming  Landlord's
     delivery of  possession  of the Rental Space and stating the  Beginning and
     Ending dates.

4.   MINIMUM BASE RENTAL: Tenant shall pay to the Landlord (at Landlord's office
     or via electronic bank transfer,  as may be requested by Landlord)  without
     any previous demand,  and without any setoff or deduction  whatsoever,  the
     total  minimum  base  rent  hereafter  called  "Rent"  payable  in  monthly
     installments,  in advance on the first day of each and every calendar month
     throughout  the Term of this  Lease as  follows  (any  partial  month to be
     proportionately adjusted):

             October 1, 2000 to September 30, 2002:  $ 1,666.67 per month
             October 1, 2002 to September 30, 2003:  $ 2,083.33 per month

5.   REAL ESTATE  TAXES:  From and after the  beginning  date of this Lease,  as
     Additional Rent,  Tenant agrees to reimburse  Landlord for any and all Real
     Estate Taxes and assessments, general and special including water and sewer
     and all other impositions,  ordinary and  extraordinary,  of every kind and
     nature whatsoever, which may be levied or assessed upon the interest of the
     Landlord in the land and building under this Lease.  On account of Tenant's
     obligation for Real Estate Taxes,  Tenant shall pay to Landlord the minimum
     estimated  monthly  sum of  $800.00  toward  the  actual  amount  due.  The
     preceding  monthly  amount may be adjusted each year based on each previous
     year's cost. The adjusted Real Estate Taxes shall be due and payable within
     ten (10)  days  after  Landlord's  statement  to  Tenant.  SEE  RIDER  R-60
     ATTACHED.

6.   COMMON AREA  MAINTENANCE:  From and after the beginning date of this Lease,
     as  Additional  Rent,  Tenant  agrees to reimburse  Landlord,  for Tenant's
     proportionate  share of Landlord's gross operating costs (hereafter  called
     "Costs"),   determined   for  each  calendar  year  for  the   maintenance,
     replacements,  repairs and operation of the facilities,  buildings,  common
     areas and mall areas of the Shopping Center specifically excluding Tenant's
     Rental  Space  and  land  area   outlined  on  Exhibit   "A-1").   Tenant's
     proportionate  share of Landlord's  Costs shall be calculated  based on the
     size of the Rental  Space  divided by the  leaseable  building  area of the
     Shopping Center.

     Landlord's Costs shall  include (but not  be  limited  to)  all   services,
     maintenance,  repairs and replacements to: landscaping; paving and patching
     the parking lot; striping;  painting;  curbing,  sidewalks,  loading areas,
     walkways,  stairs,  roofs,  downspouts,  gutters,  all utility feeds, storm
     drains and  sewers;  snow,  ice,  trash and debris  removal;  lighting  and


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     fixtures;  sweeping;  cleaning;  pest  control;  all  utilities  for common
     facilities;  sprinklers;  alarms;  all  types  of  insurance  coverage  and
     deductibles  carried for the  Shopping  Center;  purchase  of supplies  and
     equipment;   policing  and  security;   compensation   of  management   and
     maintenance  personnel for the Shopping  Center;  holiday  decorations  and
     promotional events; compliance with environmental agencies and governmental
     rules and regulations and other general  maintenance items and services for
     the benefit of the common areas and facilities of the Shopping  Center plus
     an administrative charge of fifteen percent (15%) of the total Costs.

     On account of Tenant's  share of such Costs,  Tenant  shall pay to Landlord
     the minimum  estimated monthly sum of $230.00 toward the actual amount due.
     The  preceding  monthly  estimate  may be adjusted  each year based on each
     previous  year's  Costs.  Within  ninety  (90)  days  after the end of each
     calendar  year,  Landlord  shall  furnish to Tenant a statement  showing in
     reasonable detail the information  necessary to determine Landlord's Costs.
     Tenant's adjusted  proportionate  share of such Costs in excess of Tenant's
     monthly  estimated  payments  shall be due and payable within ten (10) days
     after Landlord's statement to Tenant.

7.   SECURITY:  The Amount of the Security  deposit  shall be $0.00.  The Tenant
     shall pay to the  Landlord  the  Security  and the first  month's  Rent and
     Additional  Rent upon  Tenant's  execution of this Lease.  The Landlord may
     deduct from the  Security  any  expenses  incurred in  connection  with the
     Tenant's  violation or failure to perform any obligation of this Lease. The
     Security is not to be used by the Tenant for the payment of Rent.  However,
     the  Landlord  may  apply  the  Security  to any  Rent or  Additional  Rent
     delinquent for a period of ninety (90) days or more. Tenant shall reimburse
     the Landlord for the amount deducted or the costs incurred,  on demand.  If
     Tenant does not pay the last month's  rent,  there shall be a penalty of an
     additional one month's rental obligation due to the Landlord by Tenant. The
     Landlord shall repay to the Tenant any balance remaining within thirty (30)
     days after the end of the Term  provided  that the Tenant has performed all
     of its  obligations  of this  Lease.  The Tenant  shall not be  entitled to
     interest on the Security.

8.   ADDITIONAL  RENT:  If the  Tenant  fails to comply  with any  agreement  or
     obligation  of this Lease,  the Landlord may do so in behalf of the Tenant.
     The Landlord  may charge  Tenant the cost to comply,  including  reasonable
     attorney fees, and charge such costs to Tenant as  "Additional  Rent".  The
     Additional  Rent shall be due and  payable as Rent  together  with the next
     monthly installment of Rent.  Non-payment of Additional Rent shall give the
     Landlord the same rights  against the Tenant as if the Tenant failed to pay
     Rent when due.

9.   DELAY IN GIVING OF POSSESSION:  In the event that  possession of the Rental
     Space  is  delayed  due to (but not  limited  to) the  delay in  Landlord's
     construction,  renovations,  existing Tenant's failure to vacate the Rental
     Space,  or the like,  then the  beginning  date shall be changed to the day
     upon  which  the  Landlord  delivers  possession  to the  Tenant.  Even  if
     possession  of the Rental Space is not on the  beginning  date,  the ending
     date and Rent adjustment  dates (if any) shall not change.  SEE EXHIBIT "E"
     ATTACHED.

10.  ASSIGNMENT OR SUBLETTING:  Tenant shall not assign or sublet any portion of
     the Rental Space  without the prior written  consent of the Landlord.  Upon
     any bona fide  request to assign or  sublease  the Rental  Space by Tenant,
     Landlord  shall have the first  right of refusal  to  recapture  the Rental
     Space upon thirty (30) days written notice to the Tenant following  Tenant'
     s initial request.  Any such change of Tenant,  its ownership,  assignment,
     subletting or sale of Tenant's business without  Landlord's written consent
     shall be void and  Landlord  shall have the right to  terminate  this Lease
     upon  written  notice  to  Tenant  or any  other  occupant.  If Tenant is a
     corporation,  any merger, consolidation or change in voting stock ownership
     of the corporation shall be considered as an assignment  without Landlord's
     consent under this Lease. SEE RIDER r-61 ATTACHED.

11.  CONTINUOUS OPERATION: Tenant shall continuously operate its business during
     all normal  business  hours at least six (6) days per week to  produce  the
     maximum  volume of  business  within the  Rental  Space.  Tenant  shall not
     abandon  the  Rental  Space  during  the Term of this Lease or permit it to
     become  vacant or  unoccupied  except  for  legal  holidays  and  customary
     vacations. Tenant or its affiliates shall not operate a business of similar
     kind within the two (2) miles of the Shopping Center.

12.  INSURANCE:  Tenant shall keep in force at all times during the Term of this
     Lease,  from the  beginning  date of this Lease or delivery  of  possession
     (whichever occurs first), the following coverage with respect to the Rental
     Space and land area and its business  naming the  Landlord  and  Landlord's
     designated mortgagee as an additional insured:

     (a)  Comprehensive  general liability  insurance,  workman's  compensation,
          property   damage,   flood,   vandalism,    plate   glass,   leasehold
          improvements, and other adequate insurance on an occurrence basis with
          a minimum single limit of One Million  ($1,000,000.) Dollars which may
          be reasonably  increased during the term of the Lease upon the written
          request of Landlord.

     (b)  Fire  insurance,  with  extended  coverage,  including  Federal  flood
          insurance,  in an amount equal to the  replacement  cost of the Rental
          Space and the value of Tenant's improvements in the Rental Space.

     Within  fifteen  (15)  days  prior  to the  expiration  date  of any of the
     aforesaid  policies  of  insurance,  the Tenant  shall  provide  Landlord's
     designated  mortgagee  with the  original  policy and the  Landlord  with a
     Certificate or Memorandum of Insurance  evidencing Tenant's compliance with
     the  requirements  of this Article 12 and  containing a provision  that the
     insurance coverage certified thereunder will not be canceled by the company


                                  PAGE 2 OF 8

<PAGE>

     providing  same  without  a  prior  thirty  (30)  days  written  notice  of
     cancellation  thereof  having first been given to the Landlord,  Landlord's
     designated  mortgagee and the Tenant by said  company.  In the event Tenant
     fails to maintain any  insurance  herein  required by Tenant,  Landlord may
     obtain such  insurance  and pay the premium  therefor,  which such  premium
     shall be payable by the Tenant as  Additional  Rent on the first day of the
     month,  next  succeeding  the month in which said  premium  was paid by the
     Landlord.

     If due to the Tenant's use of the Rental Space,  the fire insurance rate or
     any other insurance Landlord carries is increased, the Tenant shall pay the
     increases in the premium to the Landlord on demand.

13.  OTHER TAXES: The Tenant shall promptly pay when due all other taxes imposed
     or assessed by governmental  authorities  for Tenant's  business and use of
     the Rental Space and taxes due to Tenant's  alterations and improvements to
     the  Rental  Space,  whether  collected  by the  Landlord  or  governmental
     authorities. Other taxes include, but are not limited to, taxes levied upon
     Tenant's fixtures,  signs, personal property,  revenue or rental sales, and
     use taxes, etc.

14.  ACCEPTANCE  OF RENTAL  SPACE:  The Tenant has  inspected  the Rental Space,
     Shopping Center,  and zoning,  and acknowledges  that they are satisfactory
     condition and are  acceptable  and suitable for Tenant's  intended use. The
     Tenant accepts the Rental Space  including all equipment and fixtures in an
     "As-is" "Where-is"  condition.  Tenant shall obtain all necessary operating
     permits,  licenses,  and a certificate of occupancy for Tenant's use of the
     Rental Space. SEE RIDER R-62 ATTACHED.

15.  NON-LIABILITY  OF LANDLORD:  Landlord shall not be responsible or liable to
     Tenant or others for any theft, personal injury, loss or damage of property
     that may be  occasioned  by the acts or omissions of persons  occupying any
     space  adjacent to or adjoining the Rental Space,  or any part thereof,  or
     for any loss or damage  resulting to Tenant or its property from leaking of
     water, gas, steam, fire, sewer, electricity,  loss of heating or cooling or
     bursting  pipes  and  the  like of for any  reason  whatsoever  even if the
     Shopping Center is located in flood zone or other hazardous area.

16.  QUIET ENJOYMENT: Provided that Tenant pays all Rent and Additional Rent due
     under this  Lease on their  respective  due dates and the  Tenant  does not
     violate any agreement or covenant of this Lease,  the Tenant may peacefully
     enjoy the use of the Rental Space within Landlord's reasonable control.

17.  UTILITIES AND SERVICES:  From the beginning  date or delivery of possession
     of the Rental Space to the Tenant  (whichever  occurs  first)  Tenant shall
     arrange for and pay promptly when due all  utilities and services  required
     for the use of the Rental Space including but not limited to water,  sewer,
     septic, gas, electric, phone, heating, cooling, etc. Landlord shall not pay
     or be responsible to pay for any utilities  and/or services used by Tenant.
     In the event the Landlord  shall pay for,  supply or maintain any utilities
     and/or  services in behalf of the Tenant,  then Tenant shall  reimburse the
     Landlord immediately upon demand. The stoppage or reduction of any of these
     utilities  and/or  services does not entitle Tenant to abatement of rent or
     other  charges.  The  Landlord  shall not be liable to the  Tenant  for any
     interruption or delay in any of these utilities,  and/or  services.  In the
     event that the Rental  Space is connected by any common space or a corridor
     for the joint use of the Landlord  and/or other Tenants,  then Tenant shall
     pay to the Landlord,  Tenant's  pro-rata share of all costs and expenses to
     operate and maintain such areas.  Tenant's pro-rata share shall be equal to
     the size of the Rental Space  divided by the leaseable  areas  connected by
     the common space or corridors.

18.  TENANT'S REPAIRS, MAINTENANCE, AND COMPLIANCE: The Tenant shall through out
     the Term of this Lease at  Tenant's  sole cost and  expense:  (a)  promptly
     comply with all laws, orders, rules, codes, ordinances, and requirements of
     governmental  authorities,  insurance  carriers,  environmental  protection
     agencies  or similar  groups  for use and  occupancy  of the  Rental  Space
     (including permitted  alterations by Tenant as defined below); (b) maintain
     the Rental Space in good condition, order and repair and in a safe, dry and
     tenantable  condition.  To that end,  Tenant shall make all repairs  and/or
     replacements  to the Rental  Space and land  area,  exterior  or  interior,
     structural  or  non-structural,  ordinary  or  extraordinary,  foreseen  or
     unforeseen, including the repair and maintenance of the landscaping; paving
     and patching  the parking  lot;  striping;  painting,  curbing,  sidewalks,
     loading areas, walkways,  stairs, roofs,  downspouts,  gutters, all utility
     feeds  storm  drains and  sewers;  snow,  ice,  trash and  debris  removal;
     lighting  and  fixture;  sweeping;  cleaning  and pest  control in the area
     depicted on the attached plan entitled  Exhibit "A-1". All repairs shall be
     at least equal in quality and class to the original  construction  work and
     shall be performed in a good and workmanlike  manner and in accordance with
     legal requirements.

19.  LANDLORD'S REPAIRS & MAINTENANCE: None.

20.  COVENANTS  CONCERNING  OFFENSIVE  PRACTICES:  Tenant  shall not at any time
     during the Term of this Lease: (a) solicit business or hold  demonstrations
     in the common areas or distribute any handbills or other advertising matter
     upon any  automobiles in the parking area;  (b) store,  exhibit or sell any
     merchandise  on sidewalks  or parking  areas or from any other place in the
     Shopping Center; (c) cause or permit  objectionable odors,  vibrations,  or
     noise to emanate or be dispelled  from the Rental  Space;  (d) use,  store,
     dispose or discharge any flammable, toxic or hazardous materials in, on, or
     about the Rental Space, or Shopping  Center;  (e) overload any floor in the
     Rental Space,  or operate any machinery  that is harmful to the building or
     Shopping  Center;  (f) permit  trailers  or trucks to load or unload in the
     front of the  Rental  Space or in areas not  designated  for  unloading  or
     permit  its  employees  to park  vehicles  in  prohibited  areas  as may be
     designated by Landlord;  (g) operate any ride,  vending  machine or similar
     device inside or outside the Rental  Space;  (h) place any  obstruction  or
     improvement of any type upon the exterior of the Rental Space; (i) obstruct
     the sprinkler systems (if applicable); (j) conduct any type of going out of


                                  PAGE 3 OF 8
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     business,  fire,  auction,  lost lease,  or bankruptcy sale whether real or
     fictitious;  (k)  sell,  serve,  or  permit  anyone  to  consume  alcoholic
     beverages or narcotics of any kind in, on or about the Rental Space; (l) do
     anything on or to the roof  system;  or, (m) obstruct or impede the flow of
     traffic in, around or through Tenant's land area.

21.  ALTERATIONS BY TENANT: The Tenant shall not make any changes or alterations
     to the Rental Space or parking areas without the  Landlord's  prior written
     consent  (including   Tenant's  initial   improvements).   Any  changes  or
     alterations made without the Landlords  written consent shall be removed by
     the Tenant on demand.  All changes or alterations  made with the Landlord's
     written  consent shall become the property of the Landlord  when  completed
     and paid for by the Tenant and shall  remain as part of the Rental Space at
     the end of the Term.  The  Landlord  may demand that the Tenant  remove any
     changes or  alterations  at the end of the Term.  The Tenant shall promptly
     pay for all costs of any changes or alterations. The Tenant shall not allow
     any  mechanic's  lien or other claim to be filed  against  the  Landlord or
     Shopping  Center.  Any lien or claim filed against the Landlord or Shopping
     Center as a result of the Tenant's changes or alterations shall be promptly
     removed within ten (10) days of any such filing at the Tenant's expense.

22.  ALTERATIONS  BY LANDLORD:  Landlord  reserves the right at any time to make
     alterations,  repairs, demolish, remodel, or make additions to and to build
     additional  stores,  or adjoining  structures  to the building in which the
     Rental Space and land area is a part.  Landlord may erect construction aids
     to complete any of the above work. Landlord shall not be liable in any case
     for any inconvenience, disturbance, loss of business or any other annoyance
     arising from such alterations.  The Landlord shall use reasonable care when
     completing  any of the above  work and the  Landlord  need only  repair any
     damages to the Rental Space caused by Landlord's alterations.  Landlord may
     add or withdraw  buildings  or property  from the  Shopping  Center and any
     buildings or property added or withdrawn  shall be included or excluded (as
     the case may be) in the term Shopping Center.

23.  SIGNS:  Tenant shall install  amounted  storefront sign as shown on Exhibit
     "B"  attached.  Tenant  shall not place or permit to be placed any signs or
     other advertising  device without first obtaining  Landlord's prior written
     consent.  Any sign as may be  approved  by the  Landlord  must  conform  to
     Landlord's  specifications and municipal regulations.  Tenant shall repair,
     maintain,  and replace any sign which may be approved by the Landlord.  Any
     sign installed without Landlord's consent may be removed by Landlord at any
     time at Tenant's  expense.  Tenant  shall  repair and restore all  building
     surfaces to their original  condition when installing or removing any sign.
     SEE EXHIBIT "B" ATTACHED.

24.  ACCESS TO RENTAL SPACE:  The Landlord shall have access to the Rental Space
     during all normal business hours and at other times upon reasonable  notice
     to the Tenant.  The Landlord may enter the Rental Space at any time without
     notice in case of any emergency as circumstances may require.  Landlord may
     place "FOR RENT"  signs on the Rental  Space or in the  storefront  windows
     within four (4) months prior to the end of the Term or upon  termination of
     this Lease.

25.  FIRE AND OTHER  CASUALTY:  The  Tenant  shall give the  Landlord  immediate
     notice of any fire or other  casualty in or about the Rental Space.  In the
     event of any  damage or  destruction  by fire,  the  elements,  unavoidable
     accident,  or other casualty,  Tenant shall promptly,  at its sole cost and
     expense,  cause such  damage to be  repaired  and this Lease and the rental
     hereunder shall in no way be affected.  Landlord,  at its sole option,  may
     waive its right to have such  damage  repaired  and,  in such case,  Tenant
     shall pay Landlord the greater of (a) all insurance  proceeds  recovered or
     recoverable by Tenant on account of such damage,  or (b) an amount equal to
     the full cost to repair or replace the  property so damaged.  Tenant  shall
     promptly  commence  repairs and shall in no event delay the commencement of
     such repairs for more than thirty (30) days after any such damage. All work
     shall be prosecuted diligently and the repair or replacement of any damaged
     elements,  including  the land area,  shall be completed in a  first-class,
     workmanlike manner yielding a result of a quality at least equal to that of
     the damaged  building,  improvements or other elements,  including the land
     area,  immediately  prior to such damage.  After repair of any damage,  the
     Rental  Space shall  contain  the same  number of square feet of  leaseable
     space that it  contained  prior to the damage.  All  proceeds of  insurance
     otherwise payable to Tenant as the result of any damage to the building and
     land area shall be used solely for the purpose of repairing  the damage and
     shall be held in trust for that  purpose.  If the  insurance  proceeds  are
     insufficient  to  repair  all  damage,  Tenant  shall  be  responsible  for
     furnishing all additional  monies required to fully and promptly repair and
     damage.  All repairs that require the obtaining of a building  permit shall
     be  subject  to the  same  conditions  as any  alterations,  additional  or
     improvements required pursuant to other provisions of this Lease.

26.  WAIVER OF  SUBROGATION:  Landlord  and  Tenant  hereby  waive all rights or
     recovery  and  causes of action  which  either has or may have or which may
     arise   hereafter   against  the  other,   whether  caused  by  negligence,
     intentional  misconduct or  otherwise,  for any damage to the Rental Space,
     Shopping Center or business perils coverable by fire and extended coverage,
     building, contents and business interruption insurance, or for which either
     party may be  reimbursed  as a result of insurance  coverage  affecting any
     loss suffered by it; provided  however,  that the foregoing  waivers do not
     invalidate  any  policy  of  insurance  of the  parties  hereto,  it  being
     stipulate by the parties hereto, now or hereafter issued,  that the waivers
     shall not apply in any case in which the  application  thereof would result
     in the invalidation of any such policy of insurance.

27.  EXCULPATION OF LANDLORD: Landlord may from time to time appoint an agent to
     manage and operate the Shopping Center in behalf of the Landlord and Tenant
     shall  comply with all  directives  and notices from such  managing  agent.
     Landlord,  and all  members  of  Landlord's  ownership,  its  partners,  or


                                  PAGE 4 OF 8

<PAGE>

     shareholders,  directors,  officers  of a public  or  private  Real  Estate
     Investment Trust or other ownership entity including the managing agent and
     general partners shall have absolutely no personal liability for any reason
     whatsoever  with respect to any Article or covenant in connection with this
     Lease, without exception. Tenant shall look solely to the Landlord's equity
     in the Rental  Space (or, if the  interest  of the  Landlord is a leasehold
     interest,  Tenant  shall look solely to such  leasehold  interest)  for the
     satisfaction of any remedies of Tenant under this Lease.

28.  RULES AND  REGULATIONS:  Landlord  reserves  the right from time to time to
     adopt and enforce  rules and  regulations  applicable  to the Rental Space,
     common  areas,  parking  areas  and the  Shopping  Center  and to amend and
     supplement such rules and regulations. Tenant shall comply with and observe
     all rules and regulations to the extent practicable.  The initial Rules and
     Regulations  for the  Shopping  Center  are  hereby  adopted  as defined in
     Article 20 above (Covenants Concerning Offensive Practices.)

29.  INABILITY TO PERFORM:  If Landlord is delayed or prevented from  performing
     any of its  obligations  under  this  Lease by  reason  of  strike or labor
     troubles,  acts of God, or any other  cause  whatsoever  beyond  Landlord's
     reasonable  control,  the period of such delay or such prevention  shall be
     deemed  added  to the  time  provided  for  the  performance  of  any  such
     obligation by the Landlord and Tenant is not excused from paying Rent.

30.  SOLE  BROKER:  Tenant  represents  that there was no Real Estate  Broker or
     other party other than Mark Properties,  Inc. who brought about this Lease.
     Landlord shall pay the brokerage commissions due, if any.

31.  INDEMNITY:  Tenant  agrees  to  indemnify,  save,  and hold  the  Landlord,
     Landlord's  mortgagee and/or any underlying  ground lessor(s) of the Rental
     Space and Shopping  Center harmless from and against any and all claims and
     demands for, or in connection  with, any  environmental  matter,  accident,
     loss of life,  injury or damage whatsoever caused to any person or property
     arising directly or indirectly,  out of the use and occupancy of the Rental
     Space  and from and  against  any and all  costs,  expenses  and  liability
     incurred in connection with any such claim or proceeding.  Tenant shall pay
     all costs incurred by the Landlord relating to the above indemnity.

32.  EMINENT DOMAIN: If any part of the Rental Space is taken by eminent domain,
     either party may terminate this Lease on thirty (30) days written notice to
     the other.  If other  portions of the Shopping  Center are taken and in the
     Landlord's sold judgment the Shopping Center cannot be operated as a viable
     unit, the Landlord shall have the right to terminate this Lease upon thirty
     (30) days written notice to Tenant. The entire payment for the taking shall
     belong to the Landlord. The Tenant shall make no claim for the value of the
     remaining  part of the  Term.  The  Tenant  shall  not  make a claim to the
     Landlord or participate in any of the  Landlord's  claim for  compensation.
     The Tenant may separately make a claim for Tenant's interest.

33.  SUBORDINATION: This Lease is automatically subordinated to the lien of: (a)
     all  mortgages  on the  building  and land now and in the  future;  (b) all
     underlying  ground  leases (if  applicable)  now or in the future;  (c) all
     recorded  rights of others.  All documents  necessary to  subordinate  this
     Lease to any  mortgage  or ground  lease or other  superior  lien  shall be
     signed by the Tenant and returned to the  Landlord  within ten (10) days of
     Landlord's request.

34.  ESTOPPEL CERTIFICATE: At the request of the Landlord, the Tenant shall sign
     an estoppel certificate stating the basic terms of the Lease, the date that
     Rent was last paid and if there are any  existing  defaults  on the part of
     Landlord or Tenant. Tenant shall return such signed certificate to Landlord
     within ten (10) days of  Landlord's  request.  In the event Tenant fails to
     return  such  certificate,  Landlord  may sign a  certificate  in  Tenant's
     behalf.

35.  TENANT'S  DEFAULT:  The  Landlord  may evict the Tenant for the  default or
     violation of any agreement of this Lease and for all other causes  provided
     at  law.  If the  default  or  violation  is for  non-payment  of  Rent  or
     Additional Rent, the Landlord may give notice of such default. In the event
     that the Tenant's default for non-payment of any Rent or Additional Rent is
     not remedies within five (5) days of Landlord's notice, Landlord shall have
     the  absolute  right to  terminate  this Lease upon a second  notice to the
     Tenant and the  Landlord  shall then have the right to re-enter  and regain
     possession  of the Rental  Space and Tenant  shall  immediately  vacate the
     Rental Space. In that event, Tenant hereby agrees that Landlord may re-rent
     the Rental Space in Tenant's behalf. The Tenant shall have thirty (30) days
     to cure  any  non-monetary  default.  If the  non-monetary  default  is not
     capable of being cured within thirty (30) days,  the Landlord may terminate
     this Lease upon  written  notice to Tenant.  In case the default  cannot be
     reasonably cured within thirty (30) days, providing such default is curable
     and Tenant diligently proceeds to cure the default, the Tenant shall have a
     reasonable  period of time as the  circumstances  may  require to cure such
     default.

     The Tenant is  obligated to the  Landlord  for all  Landlord's  damages and
     costs  including  attorney's  fees resulting from Tenant's  default,  early
     termination  of this Lease or violation of any agreement in this Lease.  In
     the event of Tenant's  default or if the Tenant is evicted  from the Rental
     Space or this  Lease is  terminated  for  non-payment  of Rent or any other
     non-monetary default, the Tenant shall continue to be bound by the terms of
     this Lease to perform all obligations and shall pay the Rent and Additional
     Rent until the end of the Term. Tenant hereby  acknowledges and agrees that
     Landlord shall not be required to mitigate  Landlord's or Tenant's  damages
     or to take any action to re-rent  the Rental  Space in behalf of or for the
     Tenant.  If the  Landlord  re-rents  the  Rental  Space  for less  than the
     Tenant's  Rent,  the Tenant shall pay the  difference  until the end of the
     Term.  The Tenant shall not be entitled to any excess Rent  resulting  from
     the  re-renting.  The Tenant  shall also pay: (a) all  reasonable  expenses
     incurred by the Landlord in preparing

                                  PAGE 5 OF 8

<PAGE>

     the  Rental  Space for  re-renting;  (b)  commissions  paid to a broker for
     obtaining a new Tenant;  (c)  administrative  charges;  and, (d) attorney's
     fees.

36.  BANKRUPTCY:  The  Leasehold  interest  created by this  Lease  shall not be
     treated as an asset of Tenant or Guarantor.  If at any time during the Term
     there  shall be filed  by, in behalf or of  against  Tenant a  petition  in
     bankruptcy,  or if a similar type of  proceeding  shall be filed,  Landlord
     shall have the right to terminate  this Lease upon thirty (30) days written
     notice  to Tenant  provided  however,  the  obligation  of  Tenant  and any
     Guarantor shall be fully forgiven after the date of termination and further
     provided,  Landlord  shall have  obtained  possession  of the Rental  Space
     within sixty (60) days  following the filing date. Any Such filing shall be
     treated as a material breach and default of this Lease by Tenant.

37.  FEES AND  EXPENSES:  In the event that any Rent or  Additional  Rent is not
     received by the Landlord within ten (10) days of its due date,  there shall
     be an  additional  late  charge due by Tenant.  Tenant  agrees  that a late
     charge is fair and  reasonable.  In each  instance the late charge shall be
     the  greater  of ten  (10%)  percent  of  all  Rent  items  in  arrears  of
     one-hundred  ($100.00)  dollars.  Tenant  agrees  to pay a thirty  ($30.00)
     dollar charge for bank returned payments.

38.  CHRONIC LATE PAYMENTS:  Tenant agrees to pay its Rent and  Additional  Rent
     when due.  In the event  Tenant  makes  chronic  late  payments  of Rent or
     Additional  Rent,  then the  chronic  late  payment  of Rent shall give the
     Landlord the same rights as if the Tenant failed to pay rent.  Chronic late
     payments  shall mean six (6) or more times in any twelve (12) month  period
     which Tenant pays Rent and/or  Additional  Rent past their  respective  due
     dates.

39.  RECORDING:  Tenant  shall not  permit or cause  this  Lease to be  recorded
     without the prior written consent of Landlord.

40.  NOTICES:  All notices  given under this Lease must be in writing,  and they
     must be  presented  by;  (a)  personal  delivery  to the other  party,  and
     acknowledged;   or  (b)  certified  or  registered  mail,   return  receipt
     requested;  or (c) by a nationally recognized delivery service with receipt
     of  delivery.  Notices  shall be  addressed  to the Landlord at the address
     stated at the beginning of this Lease and to the Tenant at the Rental Space
     or at the address  stated at the  beginning of this Lease.  The Landlord or
     Tenant  may  notify  the other of a change of  address,  which will only be
     effective by written notice. Should Tenant fail to promptly notify Landlord
     in writing of any condition which is in need of repair or is the Landlord's
     responsibility  under this Lease,  Tenant shall be responsible  for damages
     that may occur.

41.  HOLDING  OVER:  Should  Tenant  holdover in  possession of the Rental Space
     after the expiration of the Term with the consent of Landlord, Tenant shall
     be deemed to be occupying the Rental Space from month to month,  subject to
     termination  by either party upon at least thirty (30) days written  notice
     to the  other.  Such  month to month  tenancy  shall be  subject to all the
     terms,  covenants  and  conditions  of this  Lease  insofar  as same may be
     applicable  to a month to month  tenancy  except the monthly  Rent shall be
     twice the amount last in effect.

42.  NO WAIVER: The Landlord's  acceptance of: Rent, Additional Rent, late Rent,
     or partial Rent, after a violation by Tenant of any agreement in this Lease
     or failure to default  Tenant or enforce any  agreement  or  obligation  of
     Tenant under this Lease,  shall not prevent the Landlord from enforcing any
     agreement of this Lease at a later time nor shall it be considered a waiver
     of Landlord's rights in any respect.

43.  FAILURE TO OPEN: In the event Tenant fails to complete Tenant's work and/or
     open to the public for business  within  sixty (60) days after  delivery of
     possession,  or if Tenant  abandons  the Rental  Space for a period of (30)
     thirty days or more,  then in  addition  to all other  remedies of Landlord
     under  this  Lease and at law,  Landlord  shall  have the  option  of;  (a)
     terminating  this Lease upon  written  notice to Tenant or; (b)  collecting
     from  Tenant the  equivalent  of twice the Rent due until  Tenant  opens or
     re-opens to the public for business.

44.  SURVIVAL:  If any  agreement  in this Lease is invalid and contrary to law,
     the rest of the Lease shall remain in full force and effect and be enforced
     to the fullest extent permitted by law. This Lease shall be governed by the
     laws of the state in which the Rental Space is located.

45.  END OF TERM: At the end of the Term or upon  termination  of this Lease the
     Tenant shall: (a) leave the Rental Space in broom clean and good condition;
     (b) removal all of the Tenant's  property;  (c) removal all Tenant's  signs
     and restore that portion of the Rental Space on which they were placed; (d)
     repair all  damages  caused by moving;  (e) return the Rental  Space to the
     Landlord  in the  same  condition  as it was at the  beginning  of the Term
     except for normal wear  caused by  reasonable  use and  further  subject to
     Article 21 of this Lease. If the Tenant leaves any property or improvements
     in the Rental Space,  the Landlord may at the end of the Term:  (i) dispose
     of it and charge the Tenant  for the cost (plus  overhead)  of removal  and
     disposal; (ii) keep it as abandoned property;  (iii) request its removal by
     Tenant at  Tenant's  expense;  (iv)  charge  Tenant  the per diem  holdover
     monthly rent for storage or any combination of the foregoing.

46.  EXHIBIT "A":  Exhibit "A" is for the express  purpose of locating  Tenant's
     Rental Space only. It is not any way, to be construed to prevent, limit, or
     require Landlord to change any and all facts shown on the Exhibit including
     but not limited to building  locations,  additions,  adding or  withdrawing
     land, parking stalls,  entrances,  exits, driveways,  sidewalks,  drainage,
     sewers, elevations, etc.


                                  PAGE 6 OF 8

<PAGE>


47.  PRONOUNS:  The use of neuter pronouns to refer to Tenant shall nevertheless
     be deemed a proper  reference  even though Tenant may be an  individual,  a
     corporation,  a  partnership,  or  group  of two  or  more  individuals  or
     corporations or other operating entity.

48.  SALE AND ATTORNMENT:  In the event that the Rental Space or Shopping Center
     is sold,  transferred,  foreclosed  or conveyed,  then the  Landlord  shall
     automatically  be relieved from any and all  obligations  of this Lease and
     the Tenant shall look solely to the new Landlord or subsequent Landlord for
     performance  of this Lease  including  the return of the  Security.  Tenant
     hereby  agrees to recognize  and attorn to the new  Landlord or  subsequent
     Landlord and to perform all of Tenant's obligations of this Lease.

49.  AUTHORITY:  The Tenant(s) signing this Lease hereby warrants and represents
     to the  Landlord  that the  undersigned  is  capable of  performing  all of
     Tenant's obligations of this Lease and has the right and authority to enter
     into and sign this Lease as the Tenant  and is duly  authorized  to conduct
     business within the  municipality and state in which the Shopping Center is
     located.  Tenant shall provide Landlord with evidence of such authorization
     upon request from Landlord.

50.  JOINT AND  SEVERAL:  In the event  two or more  individuals,  corporations,
     partnerships or other type of business  associations  shall sign this Lease
     as Tenant, then each individual,  corporation,  partnership,  etc. shall be
     jointly  and  severally  liable  for  the  Rent,  Additional  Rent  and all
     obligations of this Lease.

51.  MARGINAL HEADINGS:  The marginal headings are for information and reference
     purposes  only, and have no effect on the  interpretation  of this Lease or
     the Article it pertains to.

52.  LIEN OF  LANDLORD:  Tenant  hereby  grants a  security  interest  in all of
     Tenant's   furnishings,   equipment,   fixtures,   inventory  and  accounts
     receivable belonging to Tenant. For the purposes of securing such interest,
     Tenant shall provide a financial  statement or other necessary documents at
     the  request of the  Landlord  for the  interest  hereby  granted in a form
     suitable for recording.

53.  ENVIRONMENTAL:  Tenant shall not use,  store,  dispose of, or discharge any
     flammable,  toxic, or hazardous materials in, on, or about the Rental Space
     or  Shopping  Center.  Tenant  shall at its own cost and  expense  take all
     actions  including  repairs and  alterations  to the Rental Space to comply
     with all existing and future environmental  regulations of any governmental
     or environmental  agencies due to and for Tenant's use and occupancy of the
     Rental Space.  Tenant shall provide Landlord with all necessary  documents,
     affidavits,  or  certificates  representing  Tenant's  compliance  with all
     applicable  regulations  as may be requested by Landlord from time to time.
     This provision shall be a personal covenant of Tenant and shall survive the
     termination of this Lease for any environmental matters without exception.

54.  INTEREST:  In the event  Tenant  fails to make any  payment  due under this
     Lease on its  respective  due date,  then Landlord  shall have the right to
     collect from Tenant as Additional  Rent an interest  charge computed at the
     highest  rate  allowable  by law or the  rate of one and  one  half  (1.5%)
     percent, per month on any outstanding balance due Landlord until paid.

55.  CONFIDENTIALITY:  The terms of this Lease are confidential between Landlord
     and Tenant. Tenant shall not disclose the Rent, terms or conditions of this
     Lease to any other party not directly associated with this Lease.

56.  TRIAL  BY  JURY:   Tenant,   Guarantors  and  Landlord  hereby   knowingly,
     voluntarily,  and intentionally waive any right they may have to a trial by
     jury with respect to any litigation  arising out of, under or in connection
     with this  Lease,  or any course of conduct,  course of dealing,  statement
     (whether  verbal or written) or action of the parties.  This provision is a
     material inducement for each party entering into this Lease agreement.

57.  BINDING:  Landlord  reserves the right to withdraw and revoke this Lease at
     any  time  prior  to  Landlord's  execution.  Submission  of this  Lease to
     Landlord as executed by Tenant shall constitute Tenant's  irrevocable offer
     to Lease until accepted or rejected by Landlord within (15) fifteen days of
     Landlord's  receipt.  Upon the full  execution of this Lease,  it binds the
     Landlord   and  the  Tenant  and  their   legal   representatives,   heirs,
     administrators, successors, and lawful assigns.

58.  NO CHANGES:  The parties have read this Lease and it contains  their entire
     agreement.  It may not be changed or modified  except in writing  signed by
     the  Landlord  and the Tenant.  The Tenant  acknowledges  that there are no
     warranties, representations or other agreements made by the Landlord or the
     Landlord's  Agents or Brokers  with respect to the Rental  Space,  Shopping
     Center,  other existing or prospective tenants or profitability of Tenant's
     business.  Neither party shall be responsible for drafting this Lease as it
     contains their mutual agreements.

59.  ADDITIONAL AGREEMENTS: SEE RIDER ATTACHED.


                                  PAGE 7 OF 8

<PAGE>


SIGNATURES:  The  Landlord  and  Tenant  hereby  agree to the Rent,  terms,  and
conditions  of this Lease by signing  below.  If the Tenant is also signing as a
corporation,  this  Lease must be signed by the proper  corporate  officer.  Any
false  representations  made by Tenant shall be considered a material  breach of
this Lease by the Tenant.

Witness/Attest:                       Landlord:
                                      NEPTUNE REALTY ASSOCIATES


     /s/ Frances Shabazz              By:      /s/ Richard Roccesano
---------------------------              --------------------------------------

As to Landlord                             Richard Roccesano, Managing Agent


                                      Tenant:
                                      MONMOUTH COMMUNITY BANK


     /s/ Kathleen Cusick              By:      /s/ James S. Vaccaro
---------------------------              --------------------------------------
                                         James S. Vaccaro, Chairman and CEO


                                  PAGE 8 OF 8

<PAGE>

                                 RIDER TO LEASE

            Rider to Lease made this 29th the day of September, 2000

                                 BY AND BETWEEN

LANDLORD                                                TENANT

NEPTUNE REALTY ASSOCIATES                        MONMOUTH COMMUNITY BANK
A New Jersey Limited Partnership                 672 2nd  Avenue
26 Park Place West, 2nd Floor                    Long Branch, New Jersey
07740
Morristown, New Jersey 07960-3944
(973) 538-7111 - FAX (973) 538-2116


RENTAL SPACE:  Approximately  2,480 (+/-) square feet (hereafter  called "Rental
Space")  located at the Neptune  City  Shopping  Center,  Route 35 & 3rd Avenue,
Neptune  City,  New Jersey  (Monmouth  County),  hereafter  called the "Shopping
Center") as shown on Exhibit "A".


--------------------------------------------------------------------------------



This Rider to Lease contains  additional  agreements and hereby modifies certain
Articles in the Lease and shall be  considered an addition to and become part of
the Lease Agreement between the parties. If any provision of this Rider shall be
in conflict  with the Articles of the Lease,  then the  provisions  of the Rider
shall prevail and take precedence.

R-60.REAL  ESTATE  TAXES-Continued:  In the event of an  increase in real estate
     taxes in excess of 7% over the previous tax year, Tenant shall be permitted
     to  appeal  such  increase  at its  sole  cost  and  expense  and  with the
     cooperation of the Landlord to the extent required by the taxing authority.

R-61.ASSIGNMENT OR  SUBLETTING,  Con't:  Provided that: (a) The Lease is in full
     force and effect;  (b) Tenant is current with all of its Rental obligations
     and is not  and  has  not  been  in  default  of any of the  provisions  or
     conditions  of the Lease  during  the Term,  and (c)  Tenant is open to the
     public for  business,  Tenant  shall be permitted to assign this Lease (for
     the entire  Rental  Space,  no portion  thereof  or  subletting)  only upon
     Landlord's  prior  written  consent,  and upon such other  Lease  terms and
     conditions  as may be mutually  agreed upon by the  parties  including  the
     additional following conditions:

     (i)  Assignee must prove that it is  financially  capable of performing the
          obligations  of the Lease and must provide  financial  statements in a
          form acceptable to landlord.

     (ii) Assignee must demonstrate good business  character and must be in good
          standing.

     (iii)Tenant  shall pay to  Landlord  the sum of $250.00 for  processing  in
          proposed assignment.

     (iv) Tenant  shall  provide  Landlord  with all  documents  relating to the
          requested assignment and/or sale of Tenant's business.

     (v)  Any approved  assignment shall not relive Tenant or Guarantor from the
          obligations of this Lease.

     This  assignment  provision  shall not be assignable or transferable to any
     subsequent assignee or sublessee.

R.62.LANDLORD'S IMPROVEMENTS:  Landlord shall deliver the Rental Space in an "As
     Is" "Where is" condition with all faults. Landlord shall not be required to
     complete  any other  improvements  to the Rental  Space for or in behalf of
     Tenant.  Tenant,  at its sole cost and  expense,  shall  complete all other
     improvements  to the Rental  Space for Tenant's  use and  occupancy  all in
     accordance  with  applicable  Articles  of the Lease  and all  governmental
     regulations.

R.63.TENANT'S  IMPROVEMENTS:  As Tenant's  sole cost and  expense,  Tenant shall
     complete all  necessary  improvements  to the Rental Space for Tenant's use
     and occupancy.  All improvements shall be completed by Tenant in accordance
     will all  codes,  regulations  and  requirements  of all  local,  state and
     federal  agencies  including  Landlord's  insurance  carrier and  otherwise
     subject to Article 21 (alterations  by Tenant) of this Lease.  Tenant shall
     submit all plans and  specifications  to the  Landlord and Tenant shall not
     commence any improvements  without  Landlord's  review and written approval
     prior to any contemplated  improvements.  Tenant shall obtain all necessary
     permits, operating licenses and a certificate of occupancy for improvements
     for Tenant's use of the Rental Space.

R.64.NET  LEASE.  Tenant  acknowledges  and  agrees  that,  except as  otherwise
     specifically  provided herein, this Lease is completely NET to Landlord and
     shall  yield to  Landlord  the Net Minimum  Base Rent and  Additional  Rent
     specified  herein.  Landlord  is not  responsible  for any costs,  charges,
     expenses  or  outlays  of any kind or  nature  whatsoever  arising  from or
     relating to the Rental Space or land area or the use and occupancy  thereof
     of business carried on therein. Tenant shall pay all charges,  impositions,
     costs and  expenses of every kind and nature  relating to the Rental  Space
     and land area.

                               RIDER PAGE 1 OF 3

<PAGE>


R.65.RENEWAL  OPTION:  Provided that: (a) the Lease is in full force and effect;
     and (b) Tenant is current with all of its rental obligations and is not and
     has not been in  default  of any of the  provisions  or  conditions  of the
     Lease,  Tenant shall be entitled to TWO (2)  extensions  of this Lease each
     for a  period  of FIVE  (5)  YEARS  upon  the  same  terms,  covenants  and
     conditions  of the Lease and this Rider  except that the Minimum  Base Rent
     shall be as follows:

FIRST FIVE YEAR OPTION:
-----------------------

October 1, 2003 to September 30, 2004:            $2,500.00 per month
October 1, 2004 to September 30, 2005             $2,575.00 per month
October 1, 2005 to September 30, 2006             $2,652.25 per month
October 1, 2006 to September 30, 2007             $2,731.82 per month
October 1, 2007 to September 30, 2008             $2,813.77 per month



SECOND FIVE YEAR OPTION:
------------------------

October 1, 2008 to September 30, 2009:            $2,898.19 per month
October 1, 2009 to September 30, 2010             $2,985.13 per month
October 1, 2010 to September 30, 2011             $3,074.68 per month
October 1, 2011 to September 30, 2012             $3,166.93 per month
October 1, 2012 to September 30, 2013             $3,261.93 per month


The  Renewal  Option  shall only be  exercisable  by the Tenant upon TWELVE (12)
months  written  notice to the Landlord  prior to the expiration of the Original
Term and First  Renewal Term,  if exercised by Tenant.  The Renewal  Option will
become  automatically null and void without notice in the event that; (a) Tenant
is then in default or breaches any of the terms or covenants of this Lease;  (b)
Tenant  fails to notify the  Landlord  in writing as  indicated  above;  or, (c)
Tenant fails to make the timely  payment of Rent on the  respective due dates of
this Lease.  This Renewal Options shall not be applicable or transferable to any
other tenant other than the specific tenant named in this Lease or any successor
firm to whom the Lease is assigned with the Landlord's prior written consent

R-66.LANDLORD'S CONTINGENCY:  This Lease shall be subject to and contingent upon
     the Landlord's waiver or satisfaction of the following:

     Landlord's  ability  to obtain  possession  of the  Rental  Space  from the
previous tenant.

In the event  Landlord  does not waive or satisfy the above  condition(s)  on or
before  FEBRUARY 15, 2001,  either party shall have the right to terminate  this
Lease upon  written  notice to the other and this  Lease  shall then be null and
void and neither party shall have further  obligation to the other. In the event
Landlord  waives or satisfies  the above  condition(s)  within  thirty (30) days
after Tenant's notice to terminate,  then Tenant's notice shall be null and void
and the Lease shall remain in full force and effect.

R.67.TENANT'S  CONTINGENCY:  This Lease shall be subject to and contingent  upon
     the Landlord's wavier or satisfaction of the following:

Landlord  and  Tenant  expressly  acknowledge  and  agree  that  this  Lease  is
contingent  upon  receipt by  Monmouth  Community  Bank of any and all  required
approvals from the Federal Deposit Insurance  Corporation  (FDIC),  the State of
New Jersey  Department  of Banking  and  Insurance  and/or any other  regulatory
agency to operate a branch office.

In the event  Landlord  does not waive or satisfy the above  condition(s)  on or
before  FEBRUARY 15,  2001,  than either party shall have the right to terminate
this Lease  upon  written  notice to the other and this Lease  shall be null and
void and neither party shall have further obligation to the other.  Tenant shall
use its best  efforts  at its sole cost and  expense  to  diligently  proceed to
satisfy the above contingency.

R.68.EXCLUSIVE  USE:  Provided  that: (a) the Lease is in full force and effect;
     (b) Tenant is  current  with all of its  Rental  obligations  and is not in
     default of any of the  provisions  or  conditions  of this  Lease;  and (c)
     Tenant is open to the public  for  business,  Landlord  shall not lease any
     other Rental Space in the Shopping  Center to another  Tenant whose primary
     use is the same as the Tenant's Use as defined in Article 2 ("Use") of this
     Lease,  without the prior written consent of the Tenant which consent shall
     not unreasonably be withheld, delayed or conditioned. In the event Landlord
     violates this  Exclusive Use Article,  Tenant's sole remedy is to terminate
     this Lease upon  thirty (30) days  written  notice to the  Landlord  unless
     Landlord  cures the violation  within thirty (30) days after said notice in
     which  case  Tenant's  notice  shall be null and void and the  Lease  shall
     remain in full force and effect.  Landlord  shall not be held liable in the
     event this  provision  is contrary to any law or  considered a restraint of
     trade. This Exclusive Use Article shall not apply to any Supermarket,  Drug
     Store,  Variety  Store,  Department  Store or other anchor  Tenant  (anchor
     tenant is defined as a tenant  with 10,000  square feet of Rental  Space or
     more) Rental Spaces now or in the future , or any other existing  tenant in
     the Shopping  Center as of the date of the Lease. In the event Tenant

                               RIDER PAGE 2 OF 3

<PAGE>


     is in default of the Lease  during the Term,  this  Exclusive  Use  Article
     shall be automatically null and void without further notice.

R.69.EXHIBIT  "A"-1":  The outlined  section of land  indicated on Exhibit "A-1"
     attached  hereto is  intended  solely to depict the area to be cleaned  and
     maintained by Tenant (including, but not limited to, sweeping, snow removal
     and landscaping maintenance and paving) and is not for the exclusive use of
     Tenant. Landlord, other tenants of the shopping center,  customers,  guests
     and invitees shall have all rights of ingress and egress.  Tenant shall not
     make any alterations or construct any improvements without Landlord's prior
     written consent,  which Landlord, in its sole and absolute discretion,  may
     withhold.

R.70.BINDING:  This  Agreement  shall be binding  between  the parties and their
     respective heirs, legal representatives,  administrators,  successors,  and
     lawful assigns.

Except as  modified  and  amended  by this  Agreement,  all the other  terms and
conditions of the Lease shall remain unchanged and in full force and effect.



Witness/Attest:                       Landlord:
                                      NEPTUNE REALTY ASSOCIATES



     /s/ Frances Shabazz              By       /s/ Richard Roccesano
---------------------------              ------------------------------------
As to Landlord                           Richard Roccesano, Managing Agent



Witness/Attest:                       Tenant:
                                      MONMOUTH COMMUNITY BANK



     /s/ Kathleen Cusick              By:    /s/ James S. Vaccaro
---------------------------              ------------------------------------
As to Tenant                             James S. Vaccaro, Chairman and CEO


                               RIDER PAGE 3 OF 3

<PAGE>

                                   EXHIBIT "B"

                         STORE FRONT SIGN SPECIFICATIONS

                Verify all field conditions prior to installation





TENANT MAY USE LANDLORD'S EXISTING STORE FRONT SIGN BOX.

WHITE PLEXIGLAS SIGN FACE WITH TENANT COPY & LOGO.

INDIVIDUAL VINYL LETTERS OF A COLOR THAT MATCHES EXISTING.

TENANT OR CONTRACTOR MUST OBTAIN ALL NECESSARY LOCAL PERMITS AND APPROVALS PRIOR
TO INSTALLATION.



<PAGE>


                                    GUARANTY

            This Lease Guaranty made this 21st day of September 2,000


REFERENCED LEASE DATED:



LANDLORD:                                         TENANT:
---------                                         -------
NEPTUNE REALTY ASSOCIATES                         MONMOUTH COMMUNITY BANK
A New Jersey Limited Partnership                  627 2ND Avenue
26 Park Place West - 2nd Floor                    Long Branch, New Jersey 07740
Morristown, New Jersey 07960-3944
(973) 538-7111 - FAX (973) 538-2116



RENTAL SPACE:  Approximately  2,480 (+/-) square feet (hereafter  called "Rental
Space")  located at the Neptune  City  Shopping  Center,  Route 35 & 3rd Avenue,
Neptune City, New Jersey (Monmouth  County),  (hereinafter  called the "Shopping
Center") as shown on Exhibit "A",





For value  received  the  undersigned,  in  consideration  of the leasing of the
Rental Space described in the above-referenced  Lease to the Tenant, does hereby
unconditionally,  jointly and severally  personally  guarantee to Landlord,  its
successors  and  assigns  all  payments  of rent  and  additional  rent  and the
performance  of all  covenants  and  obligations  under  such  Lease,  as may be
modified,  amended,  or renewed without the necessity of modifying this guaranty
agreement,  it being  specifically  understood and agreed to by the  undersigned
that in the event that the Tenant fails to perform any  obligation of the Lease,
then such obligations shall likewise be that of the Guarantor  including but not
limited to all sums due to Landlord as provided in the Lease.

The undersigned  does hereby waive all  requirements of notice of the acceptance
of this guaranty and all requirements of notice of breach or  nonperformance  by
Tenant.  The  undersigned  further  waives any demand by Landlord  and/or  prior
action by Landlord of any nature  whatsoever  against Tenant.  The undersigned's
obligations  hereunder  shall remain fully  binding  although  Landlord may have
waived one or more  defaults  by Tenant,  extended  the time of  performance  by
Tenant,  released,  returned  or  misapplied  other  collateral  given  later as
additional  security  (including  other  guarantees) or released Tenant from the
performance of its obligations under such Lease.

This  Guaranty  shall  survive  the  termination  of  the  Lease,   all  merges,
consolidations,  and reorganizations or whatever form of the Guarantor and shall
be binding upon the survivor of the individual(s) or successor corporation(s) or
other entity which results from such merger, consolidation or reorganization.

The  Landlord  and  the   undersigned   hereby   knowingly,   voluntarily,   and
intentionally  waive  any  right  each  party  may have to a trial by jury  with
respect to any litigation  arising out of, under or in connection with the Lease
and this  Guaranty  Agreement,  or any  course of  conduct,  courts of  dealing,
statement  (whether verbal or written) or action of the parties.  This provision
is a material  inducement  for each party entering into this  agreement.  In the
event that it becomes necessary for Landlord to enforce Guarantor's  obligations
provided herein,  then the Guarantor shall reimburse the Landlord for all of the
Landlord's costs including attorney's fees.

                                      MONMOUTH COMMUNITY BANK



                                      By:      /s/ James S. Vaccaro
                                         ------------------------------------
                                          James S. Vaccaro, Chairman and CEO




                              GUARANTY PAGE 1 OF 2

<PAGE>


STATE OF NEW JERSEY:
                      :SS.
COUNTY OF MONMOUTH:


     On this 21st day of September,  2000, before me, a Notary Public in and for
the above county, personally appeared JAMES S. VACCARO, known to be the CHAIRMAN
AND CEO OF MONMOUTH  COMMUNITY BANK and who executed the foregoing  Guaranty and
acknowledge that he executed the same as his free act and deed.


                                                   /s/ Diane Sperry
                                            ------------------------------------
                                            Notary Public
                                            My commission expires  12/22/04
                                                                 ---------------





                              GUARANTY PAGE 2 OF 2