Amendment to Standard Office Building Lease Agreement


    
      
        

      

    

    Return
      to 10Q

    EXHIBIT
      10.1

     

    LEASE
      AMENDMENT NO. 1

     

    
      	 Landlord	 	Promenade of Coral Springs LLC, a Delaware
              limited liability company, successor by merger to Promenade of Coral
              Springs, Inc., a Florida corporation
	 	 	 
	 Tenant	 	Commercial Bank of Florida (the Tenant
              is
              sometimes referred to in this instrument in the pronoun form of
              "you”)
	 	 	 
	 Building	 	1999 University Drive, Coral Springs,
              Florida
              33071
	 	 	 
	 Premises	 	Suite 100 comprised of approximately
              4,940
              rentable square feet of space on the first floor of the northwest side
              of
              the Building 
	 	 	 
	 Lease	 	Lease between Promenade of Coral Springs,
              Inc. as landlord and Tenant as tenant, dated December 10, 1996
              
	 	 	 
	 Transaction	 	Extension of Term pursuant to exercise
              of
              option to extend 


    

     

    WITNESSETH:

    


    WHEREAS,
      you currently have possession of and occupy the Premises under the Lease for
      a
      primary term which commenced on April 15, 1997 and which ends on April 30,
      2007;
      and WHEREAS, the Lease grants to you the right to extend the term for two
      successive five year option periods subject to the terms and conditions therein;
      and WHEREAS, you have timely exercised the first of the five year options to
      extend. NOW, THEREFORE, in consideration of the mutual covenants herein
      contained, and other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties, each intending to
      be
      legally bound hereby, covenant and agree as follows: 

    


    1.
      The
      above recitals are true and correct and are incorporated into the terms of
      this
      Lease Amendment. 

    


    2.
      The
      term of the Lease is extended to include the sixty month period beginning on
      May
      1, 2007 and ending on April 30, 2012 (the "Extended
      Term").
      Except
      as is otherwise expressly provided for herein, all of the terms and conditions
      of the Lease shall apply to the Extended Term. Pursuant to the provisions of
      Section 2.01 of the Lease, you have one additional five year option to extend
      for the period beginning on May 1, 2012 and ending on April 30, 2017.


    


    3.
      The
      monthly base rent amount which you are currently paying for the fiscal year
      beginning on May 1, 2006 and ending on April 30, 2007 is $11,472.10 a month.
      On
      May 1, 2007 and thereafter on each succeeding May 1 falling within the Extended
      Term, your monthly base rent amount will increase in accordance with the
      provisions of Section 3.2 of the Lease (annual CPI increase with floor of 3%
      minimum annual increase and ceiling of 5% maximum annual increase) and monthly
      base rent, as adjusted, will continue to be payable in advance, without demand,
      deduction or set off. 

    


    4.
      You
      shall continue to pay, during the Extended Term and during any subsequent
      extended term, your proportionate share of Operating Costs. 

    


    5.
      No
      promises have been made by Landlord or by Landlord's agents or representatives
      to improve the Premises or otherwise or to pay to you a refurbishment or
      improvement allowance as an inducement to your entering in to this Lease
      Amendment and in all respects you are taking the Premises in its as is
      condition. 

     

    
      
        

      

    

     

    6.
      You
      hereby affirm that as of the date hereof the Lease is in full force and effect,
      that the Lease has not been modified or amended (except as provided in this
      Amendment) and that all of the Landlord's obligations accrued to date have
      been
      performed. You hereby ratify the provisions of the Lease and agree to attorn
      to
      and be bound to Landlord and its successors and assigns as to all the terms,
      covenants and conditions of the Lease as amended hereby. You further agree
      to
      fulfill all of your obligations under the Lease as amended hereby to Landlord
      throughout the remainder of the term. 

    


    7.
      This
      Lease Amendment constitutes the entire understanding and agreement between
      you
      and the Landlord with respect to the extension of the term of the Lease, and
      contains all of the covenants and agreements of Landlord and you with respect
      thereto. 

    


    8.
      You
      represent and warrant that you have dealt with no broker, agent or other person
      in connection with this transaction, and that no broker, agent or other person
      brought about this transaction, and you agree to indemnify and hold Landlord
      harmless from and against any and all claims to pay any other broker, agent
      or
      other person claiming a commission or other form of compensation by virtue
      of
      having dealt with you with regard to this leasing transaction. 

    


    9.
      All of
      the terms of the Lease not otherwise in conflict with this Lease Amendment
      shall
      remain in full force and effect as if fully set forth herein, and any
      capitalized terms not defined herein shall have the meanings set forth in the
      Lease. 

    


    10.
      You
      acknowledge that you have read this Lease Amendment, have had the time and
      ability, if you so choose, to consult with an attorney regarding its terms,
      and
      you agree with the terms of this Lease Amendment as if you had drafted this
      Lease Amendment yourself. Accordingly, even though this Lease Amendment was,
      by
      necessity, printed and assembled by Landlord and drafted by Landlord's attorney,
      this Lease Amendment reflects the terms as agreed to by the parties and if
      a
      term or provision of this Lease Amendment is considered ambiguous, neither
      party
      shall be considered the draft person for the purpose of causing the terms of
      this Lease Amendment to be construed against that party. 

     

    11.
      This
      Lease Amendment may be executed in multiple counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      Lease Amendment. 

    
EXECUTED
      to be effective as of June 21, 2006. 

     

    
      	 	 	 TENANT: 
	 	 	 
	 (Witnesses)	 	Commercial
              Bank of Florida
	 
 	 	 
 	 
 
	 	 	By:  	/s/ Jack
              J.
              Partagas
	 	Jack
              J. Partagas,
              President


    

     

     

    
      	 	 	 LANDLORD: 
	 	 	 	 
	 (Witnesses)	 	
              Promenade
                of Coral
                Springs LLC, a Delaware limited liability
                company

            
	 	 
 	 
 	 
 
	 	 	By:  	/s/ Jack
              Azout
	 	 	Jack
              Azout,
              Manager