EXHIBIT 10.9
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                                                       AIA DOCUMENT A111-1997
                                                       ----------------------

            STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR
            WHERE THE BASIS FOR PAYMENT IS THE COST OF THE WORK PLUS
                          A FEE WITH AN ESTIMATED COST


AGREEMENT made as of the Sixth day of November in the year Two Thousand One
(In words, indicate day, month and year)

BETWEEN the Owner:                        Islands Community Bank
(Name, address and other information)     2348 West Boundary Street
                                          Beaufort, South Carolina

And the Contractor:                       Patterson Construction, Inc.
(Name, address and other information)     604 Bladen Street
                                          Beaufort, South Carolina  29902

The Project is:                           Main Office Renovation for Islands
(Name and location)                       Community Bank

The Architect is:                         ESD
(Name, address and other information)     1300 S. Mint Street, Suite 200
                                          Charlotte, North Carolina  28203


The Owner and Contractor agree as follows:

ARTICLE 1  THE CONTRACT DOCUMENTS
     The Contract Documents consist of this Agreement, Conditions of the
     Contract (General, Supplementary and other Conditions), Drawings,
     Specifications, Addenda issued prior to execution of this Agreement, other
     documents listed in this Agreement and Modifications issued after execution
     of this Agreement; these form the Contract, and are as fully a part of the
     Contract as if attached to this Agreement or repeated herein.  The Contract
     represents the entire and integrated agreement between the parties hereto
     and supersedes prior negotiations, representations or agreements, either
     written or oral.  An enumeration of the Contract Documents, other than
     Modifications, appears in Article 15.  If anything in the other Contract
     Documents is inconsistent with this Agreement, this Agreement shall govern.

ARTICLE 2  THE WORK OF THIS CONTRACT
     The Contractor shall fully execute the Work described in the Contract
     Documents, except to the extent specifically indicated in the Contract
     Documents to be the responsibility of others.

ARTICLE 3  RELATIONSHIP OF THE PARTIES
     The Contractor accepts the relationship of trust and confidence established
     by this Agreement and covenants with the Owner to cooperate with the
     Architect and exercise the Contractor's skill and judgment in furthering
     the interests of the Owner; to furnish efficient business administration
     and supervision; to furnish at all times an adequate supply of workers and
     materials; and to perform the Work in an expeditious and economical manner
     consistent with the Owner's interests.  The Owner agrees to furnish and
     approve, in a timely manner, information required by the Contractor and to
     make payments to the Contractor in accordance with the requirements of the
     Contract Documents.

ARTICLE 4  DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION
     4.1  The date of commencement of the Work shall be the date of this
          Agreement unless a different date is stated below or provision is made
          for the date to be fixed in a notice to proceed issued by the Owner.
          (Insert the date of commencement if it differs from the date of this
          Agreement or, if applicable, state that the date will be fixed in a
          notice to proceed.)
          Project shall commence with a signed contract and the issuance of a
          building permit.

          If, prior to the commencement of the Work, the Owner requires time to
          file mortgages, mechanic's liens and other security interests, the
          Owner's time requirement shall be as follows:

     4.2  The Contract Time shall be measured from the date of commencement.

     4.3  The Contractor shall achieve Substantial Completion of the entire Work
          not later than 210 days from the date of commencement, or as follows:
          (Insert number of calendar days.  Alternatively, a calendar date may
          be used when coordinated with the date of commencement.  Unless stated
          elsewhere in the Contract Documents, insert any requirements for
          earlier Substantial Completion of certain portions of the Work),
          subject to adjustments of this Contract Time as provided in the
          Contract Documents.
          (Insert provisions, if any, for liquidated damages relating to failure
          to complete on time or for bonus payments for early completion of the
          Work.)

ARTICLE 5  BASIS FOR PAYMENT
     5.1    CONTRACT SUM
     5.1.1  The Owner shall pay the Contractor the Contract Sum in current funds
            for the Contractor's performance of the Contract.  The Contract Sum
            is the Cost of the Work as defined in Article 7 plus the
            Contractor's Fee.

     5.1.2  The Contractor's Fee is:
            (State a lump sum, percentage of Cost of the Work or other provision
            for determining the Contractor's Fee, and describe the method of
            adjustment of the Contractor's Fee for changes in the Work.)

            The amount for monthly General conditions is Five Thousand Thirty-
            Six Dollars ($5,036.00), plus a Ten Percent (10%) fee calculated on
            payroll and materials used by staff of Patterson Construction, Inc.,
            with an Eight Percent (8%) fee calculated on subcontracts such as
            HVAC, Plumbing, and Electrical, including labor and materials.

     5.2.   ESTIMATED COST
     5.2.1  The sum of the Cost of the Work and the Contractor's Fee is
            guaranteed by the Contractor not to exceed N/A Dollars ($N.A.),
            subject to additions and deductions by Change Order as provided in
            the Contract Documents.  Such maximum sum is referred to in the
            Contract Documents as the Guaranteed Maximum Price.  Costs which
            would cause the Guaranteed Maximum Price to be exceeded shall be
            paid by the Contractor without reimbursement by the Owner
            (Insert specific provisions if the Contractor is to participate in
            any savings.)
            N/A

     5.2.2  The Estimated Cost is based on the following alternates, if any,
            which are described in the Contract Documents and are hereby
            accepted by the Owner:
            (State the numbers or other identification of accepted alternates.
            If decisions on other alternates are to be made by the Owner
            subsequent to the execution of this Agreement, attached a schedule
            of such other alternates showing the amount for each and the date
            when that amount expires.)
            N/A

     5.2.3  Unit prices, if any, are as follows:
             N/A

     5.2.4  Allowances, if any, are as follows:
            (Identify and state the amounts of any allowances, and state whether
            they include labor, materials, or both.)
            N/A


     5.2.5  Assumptions, if any, on which the Estimated Cost is based are as
            follows:
            N/A

     5.2.6  To the extent that the Drawings and Specifications are anticipated
            to require further development by the Architect, the Contractor has
            provided in the Estimated Cost for such further development
            consistent with the Contract Documents and reasonably inferable
            therefrom.  Such further development does not include such things as
            changes in scope, systems, kinds and quality of materials, finishes
            or equipment, all of which, if required, shall be incorporated by
            Requisition.

ARTICLE 6  CHANGES IN THE WORK
     6.1   Adjustments to the Estimated Cost on account of changes in the Work
           may be determined by any of the methods listed in Subparagraph 7.3.3
           of AIA Document A201-1997.

     6.2   In calculating adjustments to subcontracts (except those awarded with
           the Owner's prior consent on the basis of cost plus a fee), the terms
           "cost" and "fee" as used in Clause 7.3.3.3 of AIA Document
           A201-1997 and the terms "costs" and "a reasonable allowance
           for overhead and profit" as used in Subparagraph 7.3.6 of
           AIA Document A201-1997 shall have the meanings assigned to them in
           AIA Document A201-l997 and shall not be modified by Articles 5, 7 and
           8 of this Agreement.  Adjustments to subcontracts awarded with the
           Owner's prior consent on the basis of cost plus a fee shall be
           calculated in accordance with the terms of those subcontracts.

     6.3   In calculating adjustments to the Estimated Cost, the terms "cost"
           and "costs" as used in the above-referenced provisions of AIA
           Document A201-1997 shall mean the Cost of the Work as defined in
           Article 7 of this Agreement, and the terms "fee" and "a reasonable
           allowance for overhead and profit" shall mean the Contractor's Fee as
           defined in Subparagraph 5.1.2 of this Agreement.

     6.4   If no specific provision is made in Paragraph 5.1 for adjustment of
           the Contractor's Fee in the case of changes in the Work, or if the
           Extent of such changes is such, in the aggregate, that application of
           the adjustment provisions of Paragraph 5.1 will cause substantial
           inequity to the Owner or Contractor, the Contractor's Fee shall be
           equitably adjusted on the basis of the Fee established for the
           original Work, and the Guaranteed Maximum Price shall be adjusted
           accordingly.

ARTICLE 7  COSTS TO BE REIMBURSED
     7.1   COST OF THE WORK  The term Cost of the Work shall mean costs
           necessarily incurred by the Contractor in the proper performance
           of the Work.  Such costs shall be at rates not higher than the
           standard paid at the place of the Project except with prior consent
           of the Owner.  The Cost of the Work shall include only the items set
           forth in this Article 7.

     7.2   LABOR COSTS
     7.2.1 Wages of construction workers directly employed by the Contractor to
           perform the construction of the Work at the site or, with the Owner's
           approval, at off-site workshops.

     7.2.2 Wages or salaries of the Contractor's supervisory and administrative
           personnel when stationed at the site with the Owner's approval. Due
           to the extensive billing procedures required by the architect, it is
           requested that the time of the administrative assistant (Mrs.
           Tiffinie A. Dickens) be reimbursed at billing time (20th-23rd) each
           month and marked up at the employee rate of 10%.
           (If is intended that the wages or salaries of certain personnel
           stationed at the Contractor's principal or other offices shall be
           included in the Cost of the Work, identify in Article 14 the
           personnel to be included and whether for all or only part of their
           time, and the rates at which their time will be charged to the Work.)

     7.2.3 Wages and salaries of the Contractor's supervisory or administrative
           personnel engaged, at factories, workshops or on the road, in
           expediting the production or transportation of materials or equipment
           required for the Work, but only for that portion of their time
           required for the Work.

     7.2.4 Costs paid or incurred by the Contractor for taxes, insurance,
           contributions, assessments and benefits required by law or collective
           bargaining agreements and, for personnel not covered by such
           agreements, customary benefits such as sick leave, medical and health
           benefits, holidays, vacations and pensions, provided such costs are
           based on wages and salaries included in the Cost of the Work under
           Subparagraphs 7.2.1 through 7.2.3.

     7.3   SUBCONTRACT COSTS
     7.3.1 Payments made by the Contractor to Subcontractors in accordance with
           the requirements of the subcontracts.  Ten Percent (10%) retainage
           will be withheld on all subcontracts.

     7.4   COSTS OF MATERIALS AND EQUIPMENT INCORPORATED IN THE COMPLETED
           CONSTRUCTION
     7.4.1 Costs, including transportation and storage, of materials and
           equipment incorporated or to be incorporated in the completed
           construction.

     7.4.2 Costs of materials described in the preceding Subparagraph	7.4.1 in
           excess of those actually installed to allow for reasonable waste and
           spoilage.  Unused excess materials, if any, shall become the Owner's
           property at the completion of the Work or, at the Owner's option,
           shall be sold by the Contractor.  Any amounts realized from such
           sales shall be credited to the Owner as a deduction from the Cost of
           the Work.

     7.5   COSTS OF OTHER MATERIALS AND EQUIPMENT, TEMPORARY
           FACILITIES AND RELATED ITEMS
     7.5.1 Costs, including transportation and storage, installation,
           maintenance, dismantling and removal of materials, supplies,
           temporary facilities,  machinery, equipment, and hand tools not
           customarily owned by construction workers, that are provided by the
           Contractor at the site and fully consumed in the performance of the
           Work; and cost (less salvage value) of such items if not fully
           consumed, whether sold to others or retained by the Contractor.  Cost
           for items previously used by the Contractor shall mean fair market
           value.

     7.5.2 Rental charges for temporary facilities, machinery, equipment,, and
           hand tools not customarily owned by construction workers that are
           provided by the Contractor at the site, whether rented from the
           Contractor or others, and costs of transportation, installation,
           minor repairs and replacements, dismantling and removal thereof.
           Rates and quantities of equipment rented shall be subject to the
           Owner's prior approval.  It is hereby requested that equipment rental
           be treated as any other job materials used on the job site.  It is
           necessary from time to time to rent equipment not owned by the
           company.  This includes equipment owned by the company and charged to
           the job to offset equipment expense.

     7.5.3 Costs of removal of debris from the site.

     7.5.4 Costs of document reproductions, facsimile transmissions and long-
           distance telephone calls, postage and parcel delivery charges,
           telephone service at the site and reasonable petty cash expenses of
           the site office.

     7.5.5 That portion of the reasonable expenses of the Contractor's personnel
           incurred while traveling in discharge of duties connected with the
           work.

     7.5.6 Costs of materials and equipment suitably stored off the site at a
           mutually acceptable location, if approved in advance by the Owner.

     7.6   MISCELLANEOUS COSTS
     7.6.1 That portion of insurance and bond premiums that can be directly
           attributed to this Contract:

     7.6.2 Sales, use or similar taxes imposed by a governmental authority that
           are related to the Work.

     7.6.3 Fees and assessments for the building permit and for other permits,
           licenses and inspections for which the Contractor is required by the
           Contract Documents to pay.

     7.6.4 Fees of laboratories for tests required by the Contract Documents,
           except those related to defective or nonconforming Work for which
           reimbursement is excluded by Subparagraph 13.5.3 of AIA Document
           A201-1997 or other provisions of the Contract Documents, and which do
           not fall within the scope of Subparagraph 7 7.3.

     7.6.5 Royalties and license fees paid for the use of a particular design,
           process or product required by the Contract Documents; the cost of
           defending suits or claims for infringement of patent rights arising
           from such requirement of the Contract Documents; and payments made in
           accordance with legal judgments against the Contractor resulting from
           such suits or claims and payments of settlements made with the
           Owner's consent.  However, such costs of legal defenses, judgments
           and settlements shall not be included in the calculation 'of the
           Contractor's Fee or subject to the Guaranteed Maximum Price.  If such
           royalties, fees and costs are excluded by the last sentence of
           Subparagraph 3.17.1 of AIA Document A201-1997 or other provisions of
           the ' Contract Documents, then they shall not be included in the Cost
           of the Work.

     7.6.6 Data processing costs related to the work.

     7.6.7 Deposits lost for causes other than the Contractor's negligence or
           failure to fulfill a specific responsibility to the Owner as set
           forth in the Contract Documents.

     7.6.8 Legal, mediation and arbitration costs, including attorneys' fees,
           other than those arising from disputes between the Owner and
           Contractor, reasonably incurred by the Contractor in the performance
           of the Work and with the Owner's prior written approval; which
           approval shall not be unreasonably withheld.

     7.6.9 Expenses incurred in accordance with the Contractor's standard
           personnel policy for relocation and temporary living allowances of
           personnel required for the Work, if approved by the Owner.

     7.7   OTHER COSTS AND EMERGENCIES
     7.7.1 Other costs incurred in the performance of the Work if and to the
           extent approved in advance in writing by the Owner.
     7.7.2 Costs due to emergencies incurred in taking action to prevent
           threatened damage, injury or loss in case of an emergency affecting
           the safety of persons and property, as provided in Paragraph 10.6 of
           AIA Document A201-1997.

     7.7.3 Costs of repairing or correcting damaged or nonconforming Work
           executed by the Contractor, Subcontractors or suppliers, provided
           that such damaged or nonconforming Work was not caused by negligence
           or failure to fulfill a specific responsibility of the Contractor and
           only to the extent that the cost of  repair or correction is not
           recoverable by the Contractor from insurance, sureties,
           Subcontractors or suppliers.

ARTICLE 8  COSTS NOT TO BE REIMBURSED
     8.1   The Cost of the Work shall not include:
     8.1.1 Salaries and other compensation of the Contractor's personnel
           stationed at the Contractor's principal office or offices other than
           the site office, except as specifically provided in Subparagraphs
           7.2.2 and 7.2.3 or as may be provided in Article 14.

     8.1.2 Expenses of the Contractor's principal office and offices other than
           the site office.

     8.1.3 Overhead and general expenses, except as may be expressly included in
           Article 7.

     8.1.4 The Contractor's capital expenses, including interest on the
           Contractor's capital employed for the Work.

     8.1.5 Rental costs of machinery and equipment, except as specifically
           provided in Subparagraph 7.5.2.

     8.1.6 Except as provided in Subparagraph 7.7.3 of this Agreement, costs due
           to the negligence or failure to fulfill a specific responsibility of
           the Contractor, Subcontractors and suppliers or anyone directly or
           indirectly employed by any of them or for whose acts any of them may
           be liable.

     8.1.7 Any cost not specifically and expressly described in Article 7.

     8.1.8 Costs, other than costs included in Requisitions approved by the
           Owner, that would cause the Guaranteed Maximum Price to be exceeded.
           Any Requisition (Change Order) must be submitted to owners for prior
           approval.

ARTICLE 9  DISCOUNTS, REBATES AND REFUNDS
     9.1   Cash discounts obtained on payments made by the Contractor shall
           accrue to the Owner if (1) before making the payment, the Contractor
           included them in an Application for Payment and received payment
           therefor from the Owner, or (2) the Owner has deposited funds with
           the Contractor with which to make payments; otherwise, cash discounts
           shall accrue to the Contractor.  Trade discounts, rebates, refunds
           and amounts received from sales of surplus materials and equipment
           shall accrue to the Owner, and the Contractor shall make provisions
           so that they can be secured.

     9.2   Amounts that accrue to the Owner in accordance with the provisions of
           Paragraph 9.1 shall be credited to the Owner as a deduction from the
           Cost of the Work.

ARTICLE 10  (REVISED) SUBCONTRACTS AND OTHER AGREEMENTS
     10.1  Those portions of the Work that the Contractor does not customarily
           perform with the Contractor's own personnel shall be performed under
           subcontracts or by other appropriate agreements with the Contractor.
           The owner may designate specific persons or entities from whom the
           Contractor shall obtain bids.  The Contractor shall obtain bids from
           Subcontractors and from suppliers of materials or equipment
           fabricated especially for the Work and shall deliver such bids to the
           Architect.  The Owner shall then determine, with the advice of the
           Contractor and the Architect, which bids will be accepted.  The
           Contractor shall not be required to contract with anyone to whom the
           Contractor has reasonable objection.

ARTICLE 10  (REVISION) SUBCONTRACTS AND OTHER AGREEMENTS
     10.1  All portions of the work, including work customarily performed by the
           Contractor's own personnel, shall be quoted by a reasonable number of
           subcontractors.  If deemed appropriate by the owner, the work may be
           performed by Contractor's personnel.  The owner may designate
           specific persons or entities from which the Contractor shall obtain
           bids.  If Owner's suggested Subcontractor's bid is accepted and
           awarded, Subcontractor's work will be held to the same standards of
           Contractor, by the Contractor.  The Contractor shall obtain bids from
           subcontractor and from suppliers of materials or equipment fabricated
           especially for the work and shall deliver such bids to the Architect.
           The Owner shall then determine, with the advice of the Contractor and
           Architect, which bids will be accepted.  The Contractor shall not be
           required to contract with anyone to whom the Contractor has
           reasonable objection.  A Ten Percent (10%) retainage will be withheld
           on all subcontractors.

     10.2  If a specific bidder among those whose bids are delivered by the
           Contractor to the Architect (1) is recommended to the Owner by the
           Contractor; (2) is qualified to perform that portion of the Work; and
           (3) has submitted a bid that conforms to the requirements of the
           Contract Documents without reservations or exceptions, but the Owner
           requires that another bid be accepted, then the Contractor may
           require that a Requisition be issued to adjust the Estimated Cost by
           the difference between the bid of the person or entity recommended to
           the Owner by the Contractor and the amount of the subcontract or
           other agreement actually signed with the person or entity designated
           by the owner.

     10.3  Subcontracts or other agreements shall conform to the applicable
           payment provisions of this Agreement, and shall not be awarded on the
           basis of cost plus a fee without the prior consent of the Owner.

ARTICLE 11  ACCOUNTING RECORDS
     The Contractor shall keep full and detailed accounts and exercise such
     controls as may be necessary for proper financial management under this
     Contract, and the accounting and control systems shall be satisfactory to
     the Owner.  The Owner and the Owner's accountants shall be afforded access
     to, and shall be permitted to audit and copy, the Contractor's records,
     books, correspondence, instructions, drawings, receipts, subcontracts,
     purchase orders, vouchers, memoranda and other data relating to this
     Contract, and the Contractor shall preserve these for a period of three
     years after final payment, or for such longer period as may be required by
     law.

ARTICLE 12  PAYMENTS
     12.1   PROGRESS PAYMENTS
     12.1.1 Based upon Applications for Payment submitted to the Architect by
            the Contractor and Certificates for Payment issued by the Architect,
            the Owner shall make progress payments on account of the Contract
            Sum to the Contractor as provided below and elsewhere in the
            Contract Documents.

     12.1.2 The period covered by each Application for Payment shall be one
            calendar month ending on the last day of the month, or as follows:

     12.1.3 Provided that an Application for Payment is received by the
            Architect not later than the twenty-third (23rd) day of a month, the
            Owner shall make payment to the Contractor not later than the tenth
            (10th) day of the following month.  If an Application for Payment is
            received by the Architect after the application date fixed above,
            payment shall be made by the Owner not later than eighteen (18) days
            after the Architect receives the Application for Payment.

     12.1.4 With each Application for Payment, the Contractor shall submit
            payrolls, petty cash accounts, receipted invoices or invoices with
            check vouchers attached, and any other evidence required by the
            Owner or Architect to demonstrate that cash disbursements already
            made by the Contractor on account of the Cost of the Work equal or
            exceed (1) progress payments already received by the Contractor;
            less (2) that portion of those payments attributable to the
            Contractor's Fee; plus (3) payrolls for the period covered by the
            present Application for Payment.

     12.1.5 Each Application for Payment shall be based on the most recent
            schedule of values submitted by the Contractor in accordance with
            the Contract Documents.  The schedule of values shall allocate the
            entire Estimated Cost among the various portions of the Work, except
            that the Contractor's Fee shall be shown as a single separate item.
            The schedule of values shall be prepared in such form and supported
            by such data to substantiate its accuracy as the Architect may
            require.  This schedule, unless objected to by the Architect, shall
            be used as a basis for reviewing the Contractor's Applications for
            Payment.

     12.1.6 Applications for Payment shall indicate the percentage of completion
            of each portion of the Work as of the end of the period covered by
            the Application for Payment. The percentage of completion shall be
            the lesser of (1) the percentage of that portion of the Work which
            has actually been completed; or (2) the percentage obtained by
            dividing (a) the expense that has actually been incurred by the
            Contractor on account of that portion of the Work for which the
            Contractor has made or intends to make actual payment prior to the
            next Application for Payment by (b) the share of the Guaranteed
            Maximum Price allocated to that portion of the Work in the schedule
            of values.

     12.1.7 Subject to the other provisions of the Contract Documents, the
            amount of each progress payment shall be computed as follows:

            .1  Take that portion of the Estimated Cost properly allocable to
                completed Work as determined by multiplying the percentage of
                completion of each portion of the Work by the share of the
                Estimated Cost allocated to that portion of the Work in the
                schedule of values.  Pending final determination of cost to the
                Owner of changes in the Work, amounts not in dispute shall be
                included as provided in Subparagraph 7.3.8 of AIA Document
                A201-1997;

            .2  Add that portion of the Estimated Cost properly allocable to
                materials and equipment delivered and suitably stored at the
                site for subsequent incorporation in the work or, if approved
                in advance by the Owner, suitably stored off the site at a
                location agreed upon in writing;

            .3  Add the Contractor's Fee, less retainage of Ten Percent (10%).
                The Contractor's Fee shall be computed upon the Cost of the Work
                described in the two preceding Clauses at the rate stated in
                Subparagraph 5.1.2 or, if the Contractor's Fee is stated as a
                fixed sum in that Subparagraph, shall be an amount that bears
                the same ratio to that fixed-sum fee as the Cost of the Work in
                the two preceding Clauses bears to a reasonable estimate of the
                probable Cost of the Work upon its completion;

            .4  Subtract the aggregate of previous payments made by the Owner;
                and

            .5  Subtract the shortfall, if any, indicated by the Contractor in
                the documentation required by Paragraph 12.1.4 to substantiate
                prior Applications for Payment, or resulting from errors
                subsequently discovered by the Owner's accountants in such
                documentation; and

            .6  Subtract amounts, if any, for which the Architect has withheld
                or nullified a Certificate for Payment as provided in Paragraph
                9.5 of AIA Document A201-1997.

     12.1.8 Except with the Owner's prior approval, payments to Subcontractors
            shall be subject to retainage of not less than Ten Percent (10%).
            The Owner and the Contractor shall agree upon a mutually acceptable
            procedure for review and approval of payments and retention for
            Subcontractors.

     12.1.9 In taking action on the Contractor's Applications for Payment, the
            Architect shall be entitled to rely on the accuracy and completeness
            of the information furnished by the Contractor and shall not be
            deemed to represent that the Architect has made a detailed
            examination, audit or arithmetic verification of the documentation
            submitted in accordance with Subparagraph 12.1.4 or other supporting
            data; that the Architect has made exhaustive or continuous on-site
            inspections or that the Architect has made examinations to ascertain
            how or for what purposes the Contractor has used amounts previously
            paid on account of the Contract.  Such examinations, audits and
            verifications, if required by the Owner, will be performed by the
            Owner's accountants acting in the sole interest of the Owner.

     12.2   FINAL PAYMENT
     12.2.1 Final payment, constituting the entire unpaid balance of the
            Contract Sum, shall be made by the Owner to the Contractor when:


            .1  the Contractor has fully performed the Contract except for the
                Contractor's responsibility to correct Work as provided in
                Subparagraph 12.2.2 of AIA Document A201-1997, and to satisfy
                other requirements, if any, which extend beyond final payment;
                and

            .2  a final Certificate for Payment has been issued by the
                Architect.

     12.2.2 The Owner's final payment to the Contractor shall be made no later
            than 30 days after the issuance of the Architect's final Certificate
            for Payment, or as follows:  Final payment shall be processed with
            the issuance of a Certificate of Substantial Completion.

     12.2.3 The Owner's accountants will review and report in writing on the
            Contractor's final accounting within 30 days after delivery of the
            final accounting to the Architect by the Contractor.  Based upon
            such Cost of the Work as the Owner's accountants report to be
            substantiated by the Contractor's final accounting, and provided the
            other conditions of Subparagraph 12.2.1 have been met, the
            Architect will, within seven days after receipt of the written
            report of the Owner's accountants, either issue to the Owner a final
            Certificate for Payment with a copy to the Contractor, or notify the
            Contractor and Owner in writing of the Architect's reasons for
            withholding a certificate as provided in Subparagraph 9.5.1 of the
            AIA Document A201-1997.

     The time periods stated in this Subparagraph 12.2.3 supersede those stated
     in Subparagraph 9.4.1 of AIA Document A201-1997.

     12.2.4 If the Owner's accountants report the Cost of the Work as
            substantiated by the Contractor's final accounting to be less than
            claimed by the Contractor, the Contractor shall be entitled to
            demand arbitration of the disputed amount without a further decision
            of the Architect.  Such demand for arbitration shall be made by the
            Contractor within 30 days after the Contractor's receipt of a copy
            of the Architect's final Certificate for Payment; failure to demand
            arbitration within this 30-day period shall result in the
            substantiated amount reported by the Owner's accountants becoming
            binding on the Contractor.  Pending a final resolution by
            arbitration, the Owner shall pay the Contractor the amount certified
            in the Architect's final Certificate for Payment.

     12.2.5 If, subsequent to final payment and at the Owner's request, the
            Contractor incurs costs described in Article 7 and not excluded by
            Article 8 to correct defective or nonconforming Work, the Owner
            shall reimburse the Contractor such costs and the Contractor's Fee
            applicable thereto on the same basis as if such costs had been
            incurred prior to final payment, but not in excess of the Estimated
            Cost.  If the Contractor has participated in savings as provided in
            Paragraph 5.2, the amount of such savings shall be recalculated and
            appropriate credit given to the Owner in determining the net amount
            to be paid by the Owner to the Contractor.

ARTICLE 13  TERMINATION OR SUSPENSION
     13.1   The Contract may be terminated by the Contractor, or by the Owner
            for convenience, as provided in Article 14 of AIA Document A201-
            1997.  However, the amount to be paid to the Contractor under
            Subparagraph 14.1.3 of AIA Document A201-1997 shall not exceed the
            amount the Contractor would be entitled to receive under Paragraph
            13.2 below, except that the Contractor's Fee shall be calculated as
            if the Work had been fully completed by the Contractor, including a
            reasonable estimate of the Cost of the Work for Work not actually
            completed.

     13.2   The Contract may be terminated by the Owner for cause as provided in
            Article 14 of AIA Document A201-1997.  The amount, if any, to be
            paid to the Contractor under Subparagraph 14.2.4 of AIA Document
            A201-1997 shall not cause the Guaranteed Maximum Price to be
            exceeded, nor shall it exceed an amount calculated as follows:

     13.2.1 Take the Cost of the Work incurred by the Contractor to the	date of
            termination;

     13.2.2 Add the Contractor's Fee computed upon the Cost of the Work to the
            date of termination at the rate stated in Subparagraph 5.1.2 or, if
            the Contractor's Fee is stated as a fixed sum in that Subparagraph,
            an amount that bears the same ratio to that fixed-sum Fee as the
            Cost of the Work at the time of termination bears to a reasonable
            estimate of the probable Cost of the Work upon its completion; and

     13.2.3 Subtract the aggregate of previous payments made by the Owner.

     13.3   The Owner shall also pay the Contractor fair compensation, either by
            purchase or rental at the election of the Owner, for any equipment
            owned by the Contractor that the Owner elects to retain and that is
            not otherwise included in the Cost of the Work under Subparagraph
            13.2.1. To the extent that the Owner elects to take legal assignment
            of subcontracts and purchase orders (including rental agreements),
            the Contractor shall, as a condition of receiving the payments
            referred to in this Article 13, execute and deliver all such papers
            and take all such steps, including the legal assignment of such
            subcontracts and other contractual rights of the Contractor, as the
            Owner may require for the purpose of fully vesting in the Owner the
            rights and benefits of the Contractor under such subcontracts or
            purchase orders.

     13.4   The Work may be suspended by the Owner as provided in Article 14 of
            AIA Document A201-1997; in such case, the Guaranteed Maximum Price
            and Contract Time shall be increased as provided in Subparagraph
            14.3.2 of AIA Document A201-1997 except that the term "profit" shall
            be understood to mean the Contractor's Fee as described in
            Subparagraphs 5.1.2 and Paragraph 6.4 of this Agreement.

ARTICLE 14  MISCELLANEOUS PROVISIONS
     14.1   Where reference is made in this Agreement to a provision AIA
            Document A201-1997 or another Contract Document, the reference
            refers to that provision as amended or supplemented by other
            provisions of the Contract Documents.

     14.2   Payments due and unpaid under the Contract shall bear interest from
            the date payment is due at the rate stated below, or in the absence
            thereof, at the legal rate prevailing from time to time at the place
            where the Project is located.
            (Insert rate of interest agreed upon, if any.)

            None.  We trust that we will be paid in a timely manner and rely on
            the integrity of our client in regards to payment issues.


            (Usury laws and requirements under the Federal Truth in Lending
            Act:, similar state and local consumer credit laws and other
            regulations at: the Owner's and Contractor's principal places of
            business, the location of the Project and elsewhere may affect the
            validity of this provision.  Legal advice should be obtained with
            respect to deletions or modifications, and also regarding
            requirements such as written disclosures or waivers.)

     14.3   The Owner's representative is:
            (Name, address and other information.)
            Mr.  Jeff Maness, Architect's Representative (704) 373-1900
            Mr.  William B. Gossett, President, Islands Community Bank
            (843) 521-1968

     14.4   The Contractor's representative is:
            (Name, address and other information.)
            Edwin S, Patterson, President (843) 524-5844
            William W. Coggins, Project Manager (843)-524-5844 or (843) 321-0670

     14.5   Neither the Owner's nor the Contractor's representative shall be
            changed without ten days' written notice to the other party.

     14.6   Other provisions:
            It is hereby agreed that upon 50% completion of work the retainage
            shall be reduced from 10%- 5% retainage.

ARTICLE 15  ENUMERATION OF CONTRACT DOCUMENTS
     15.1   The Contract Documents, except for Modifications issued after
            execution of this Agreement, are enumerated as follows:

     15.1.1 The Agreement is this executed 1997 edition of the Standard Form of
            Agreement Between Owner and Contractor, AIA Document A111-1997.

     15.1.2 The General Conditions are the 1997 edition of the General
            Conditions of the Contract for Construction, AIA Document A201-1997.

     15.1.3 The Supplementary and other Conditions of the Contract are those
            contained in the Project Manual dated _________________, and are as
            follows:

                        Document            Title             Pages

     15.1.4 The Specifications are those contained in the Project Manual dated
            as in Subparagraph 15.1.3, and are as follows:

                        Section             Title            Pages

     15.1.5 The Drawings are as follows, and are dated August 22, 2001
            unless a different date is shown below:
            (Either list the Drawings here or refer to an exhibit attached to
            this Agreement.)

                        Number          Title                Pages
                         A0.0     COVER SHEET               8-22-01
                         A0.1     CODE DATA                 8-22-01
                         A0.2     SITE DEMOLITION           8-22-0l
                         D-1      INT. DEMO                 8-22-01
                         D-2      DEMO ELEVATION            8-22-01
                         A1.1     FLOOR PLAN                8-22-01
                         A1.3     ROOF PLANS                8-22-01
                         A1.4     REFLECTIVE CEILING PLANS  8-22-01
                         A2.2     ELEVATION                 8-22-01
                         A3.0     WALL SECTION              8-22-01
                         A3.1     WALL SECTION              8-22-01
                         A3.2     WALL SECTION              8-22-01
                         A5.1     DOOR-SCHEDULE             8-22-0l
                         A6.1     FINISHED HARDWARE         8-22-01
                         A8.1     CABINET CASEWORK          8-22-01
                         A8.3     CABINET CASEWORK          8-22-01
                         P1.0                               8-22-01

     15.1.6 The Addenda, if any, are as follows:

                        Number          Date                 Pages

            Portions of Addenda relating to bidding requirements are not part of
            the Contract Documents unless the bidding requirements are also
            enumerated in this Article 15.

     15.1.7 Other documents, if any, forming part of the Contract Documents are
            as follows:
            (List here any additional documents, such as a list of alternates,
            that are intended to form part of the Contract Documents.  AIA
            Document A201-1997 provides that bidding requirements such as
            advertisement or invitation to bid, Instructions to Bidders, sample
            forms and the Contractor's bid are not part of the Contract
            Documents unless enumerated in this Agreement.  They should be
            listed here only if intended to be part of the Contract Documents.)
            See Attached Exhibit A - hereby made part of this contract.
            Any reference to Guaranteed Maximum price shall hereby read as
            Estimated Cost.
            Any reference to Change Order shall hereby read as Requisition.

ARTICLE 16  INSURANCE AND BONDS
            (List required limits of liability for insurance and bonds.  AIA
            Document A201-1997 gives other specific requirements for insurance
            and bonds.)

     This Agreement is entered into as of the day and year first written above
and is executed in at least three original copies, of which one is to be
delivered to the Contractor, one to the Architect for use in the administration
of the Contract, and the remainder to the Owner.

_________________________________   _____________________________________
OWNER (Signature)                   CONTRACTOR (Signature)

Mr. William B. Gossett, President   Mr. Edwin S. Patterson, President
Islands Community Bank              Patterson Construction, Inc.
(Printed name and title)            (Printed Name and title)



                           ISLANDS COMMUNITY BANK

                                 EXHIBIT A


The Contractor shall provide the Pre-Construction Phase Services as follows:

Provide general assistance to the Owner and Architect/engineer on all aspects of
the PreConstruction Phase program.

Attend meeting with the Owner and Architect/Engineer during the Design
Development and Working Drawing Phase to advise on selection of materials,
building systems and equipment.  Provide recommendations on construction
feasibility, availability of materials and labor, time requirements for
installation and construction, and factors related to cost including costs of
alternative designs or materials, preliminary budgets, and possible economies.

Develop a Project Time Schedule that coordinates and integrates the
Architect/Engineer's design efforts with the, overall project construction
schedule.  Update the Project Schedule incorporating a detailed schedule for the
construction operations of the Project, including realistic activity sequences
and durations, allocation of labor and materials, processing of shop drawings
and samples, and delivery of products requiring long leadtime procurement.
Include the Owner's occupancy requirements showing portions of the Project
having occupancy priority.

Prepare a Project Budget as soon as major Project requirements have been
identified, and update periodically for the Owner's approval as the development
of the Drawings and Specifications proceeds, and advise the Owner and the
Architect/Engineer if it appears that the Project Construction Budget will not
be met and made recommendations for corrective action.

Review the Drawings and Specifications as they are being prepared and furnish
necessary quality control, value engineering, and constructability evaluations
recommending alternative solutions whenever design details affect construction
feasibility, cost or schedule.

Recommended for purchase and expedite the procurement of long lead items to
insure their delivery by the required dates.

Make recommendations to the Owner and the Architect/Engineer regarding the
division of Work in the Drawings and Specifications to facilitate the bidding
and awarding of subcontracts allowing for phased construction taking into
consideration such factors as time of performance, availability of labor,
overlapping trade jurisdictions, and provisions for temporary facilities.

Review the Drawings and Specifications with the Architect/Engineer to eliminate
areas of conflict and overlapping in the work to be performed by various
contractors.

Prepare pre-qualification criteria for subcontractor/material supplier bidders
and have all bidders pre-qualified and approved by the owner prior to requesting
prices from them.  Develop Subcontractor interest in the project.  Establish
bidding schedules and conduct pre-bid conferences as required to familiarize
bidders with the bidding documents and management techniques and with any
special systems, materials or methods

Along with the Owner and Architect, receive, tabulate and analyze competitive
bids on the Work on the various subcontractors.  After analyzing the bids with
the Owner and Architect, award subcontracts.

The Contractor shall seek bids on all of the work from at least three (3)
selected subcontractors in groupings approved by himself, the Architect and the
owner; and if requested by either the Architect or Owner, the Contractor shall
seek bids from additional subcontractors.  The manner and method by which the
Contractor will notify all subcontractors-bidders shall be subject to the prior
approval of the Owner.  Where the Contractor wishes to perform a portion of the
work with his own organization, the Contractor shall submit his bid in respect
thereto.  The Owner reserves the right to reject any and all subcontract bids
and to waive any informality in the bids or in the bidding.

The Contractor shall keep on his work, during its progress, a competent Project
Manager and Superintendent, both satisfactory to the Architect and Owner.  The
Project Manager or Superintendent shall not be changed except with the consent
of the Architect and Owner, unless either proves to be unsatisfactory to the
Contractor and ceases to be in his employ.  The Superintendent shall represent
the Project Manager in his absence, and all directions given to him shall be as
binding as if given to the Project Manager.