Fifth Note Modification to Credit Agreement


  Exhibit 10.2
 FIFTH NOTE
MODIFICATION AGREEMENT
 THIS FIFTH NOTE MODIFICATION AGREEMENT dated as of May 31, 2003 (“this Agreement”), is
entered into by AMSOUTH BANK, an Alabama banking corporation and formerly known as AmSouth Bank of Alabama (the “Lender”), and ALABAMA NATIONAL
BANCORPORATION, a Delaware corporation (the “Borrower”).
 Recitals
 A.         The Borrower and the Lender have entered into a Credit Agreement dated as of December 29, 1995 as
amended by a First Amendment thereto dated as of January 20, 1997, a Second Amendment thereto dated as of January 19, 1998, a Third Amendment thereto dated as of May 31, 1999, a Fourth Amendment thereto dated as of May 31, 2000, a Fifth Amendment
thereto dated as of May 31, 2001, a Sixth Amendment thereto dated as of May 31, 2002 and a Seventh Amendment thereto dated as of May 31, 2003 (as so amended, the “Credit Agreement”) pursuant to the terms of which the Lender has made a line
of credit available to the Borrower, as evidenced by a master note dated December 29, 1995 executed and delivered by the Borrower to the Lender, as modified by a Note Modification Agreement dated as of January 20, 1997, a Second Note Modification
Agreement dated as of May 31, 2000, a Third Note Modification Agreement dated as of May 31, 2001, and a Fourth Note Modification Agreement dated as of May 31, 2002 (as so modified, the “Master Note”).
 B.         The Borrower has requested the Lender to consent to a further modification of the
Master Note as provided below. The Lender has agreed to such modification of the Master Note, provided the Borrower executes this Agreement.
 Agreement
 NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual agreement of the parties
hereto, the parties hereto hereby agree as follows:
 1.          The first sentence of the first paragraph of the Master Note is hereby further amended to read, in its entirety, as follows:
 FOR
VALUE RECEIVED, ALABAMA NATIONAL BANCORPORATION, a Delaware corporation (the “Borrower”), promises to pay to the order of AMSOUTH BANK, an Alabama banking
corporation (herein called the “Lender,” and together with any subsequent holder of this note called the “Holder”), the principal sum of Thirty Million and No/100 Dollars ($30,000,000.00), or so much thereof as may be advanced by
the Lender from time to time under the Credit Agreement dated as of December 29, 1995 between the Borrower and the Lender as 






  amended by a First Amendment thereto dated as of January 20, 1997, a Second Amendment thereto dated as of January 19, 1998, a Third
Amendment thereto dated as of May 31, 1999, a Fourth Amendment thereto dated as of May 31, 2000, a Fifth Amendment thereto dated as of May 31, 2001, a Sixth Amendment thereto dated as of May 31, 2002 and a Seventh Amendment thereto dated as of May
31, 2003 (as so amended and as further amended from time to time, the “Credit Agreement”).
 2.          Interest on the Master Note shall continue to be payable as provided in the Credit Agreement.
 3.          Notwithstanding the execution of this Agreement, the Master Note shall remain in full force and effect, as
modified hereby; and nothing herein contained and nothing done pursuant hereto shall be construed to release, satisfy, discharge, terminate or otherwise affect or impair in any manner whatsoever (a) the validity or enforceability of the indebtedness
evidenced by the Master Note, except as expressly modified hereby; (b) the lien, security interest, security title, assignment or conveyance effected by the Credit Agreement, or the priority thereof; (c) the liability of any maker, endorser, surety,
guarantor or any party or parties whatsoever who may now or hereafter be liable under or on account of the Master Note or the Credit Agreement; or (d) any other security or instrument held by the Lender now or hereafter as security for or evidence
of the above-described indebtedness or any thereof.
 4.          This Agreement shall be binding upon the successors and assigns of the parties hereto.
 5.          This Agreement shall be governed by and construed in accordance with the laws of the State of Alabama.
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  IN WITNESS WHEREOF, the Lender and the Borrower have executed this Agreement all as of the day and year first
above written but actually on the date set forth below their signature.
  

	  
 	  
 	 AMSOUTH BANK
 
	 
 
 
 	  
 	 By: 
 	 
 /s/ JOHN M. KETTIG
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Its: Senior Vice President
 
	  
 	  
 	 
 May 23, 2003
 
	  
 	  
 	 
 ALABAMA NATIONAL BANCORPORATION
 
	 
 
 
 	  
 	 By: 
 	 
 /s/ WILLIAM E. MATTHEWS V
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Its: Executive Vice President and Chief Financial Officer
 
	  
 	  
 	 
 May 23, 2003
 

 
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