Document:

FIFTH AMENDMENT TO
                                CREDIT AGREEMENT

         This FIFTH AMENDMENT TO CREDIT AGREEMENT (this  "Amendment") is entered
into as of  December  17,  1999,  by and between  Smithway  Motor  Xpress,  Inc.
("Borrower"),  Smithway  Motor Xpress Corp. as Guarantor (the  "Guarantor")  and
LaSalle Bank National  Association,  formerly known as LaSalle National Bank, as
Lender (the "Lender").

                              W I T N E S S E T H:

         WHEREAS, the Borrower and the Guarantor entered into a Credit Agreement
dated as of September 3, 1997, a First Amendment to Credit Agreement dated as of
March 1, 1998,  a Second  Amendment  to Credit  Agreement  dated as of March 15,
1998, a Third Amendment to Credit  Agreement dated as of October 30, 1998, and a
Fourth Amendment to Credit  Agreement dated as of August 20, 1999  (collectively
referred to as the "Agreement"); and

         WHEREAS, the Borrower has requested certain modifications to the Agree-
ment and the Lender is willing to do so on the following terms and conditions;
and

         NOW, THEREFORE,  in consideration of the mutual agreements,  provisions
and covenants contained herein, the parties agree as follows:

         1.       Unless otherwise stated herein, all of the capitalized terms
contained in this document shall have the same meanings as contained in the
Agreement.

         2.       Section 5.14 shall be amended by inserting the following
language at the end of the Section:

         "Guarantor will deposit and maintain,  and Guarantor will cause SMSD to
         deposit and maintain,  all of its cash in commercial  deposit  accounts
         established by it at Lender."

         3.       Each of Sections 6.1, 6.2, 6.4, 6.5, 6.10, 6.11 and 6.12 of
the Agreement is amended to add at the end of such Section the following
sentence:

         "Neither  Borrower  nor  Guarantor  shall suffer or permit any of their
         respective Subsidiaries to take any action which this Section prohibits
         Borrower from taking."

         4.       Section 6.1 of the Agreement is further amended to add the
following subsection:

                  "(g)     Liens in favor of Lender."

         5.       Section 6.3 of the Agreement is amended to read in its
entirety as follows:

<PAGE>

                  "6.3   Investments.   Except  in  connection   with  the  SMSD
         Transactions,  neither Borrower nor Guarantor shall purchase or acquire
         or to commit to purchase  or acquire,  or suffer or permit any of their
         respective Subsidiaries to purchase or acquire or to commit to purchase
         or acquire,  any capital stock, equity interest or other securities of,
         or any interest in, any Person, or acquire substantially all the assets
         of any Person unless

                           (a)  the  cost  of  such   acquisition  or  purchase,
                  together  with  the  cost of all  other  acquisitions  made by
                  Guarantor and its Subsidiaries  during Borrower's then current
                  fiscal year, does not exceed $15,000,000; and

                           (b)      each new Subsidiary unconditionally
                  guarantees the Obligations in substantially the form attached
                  hereto as Exhibit B; and

                           (c) prior to or simultaneous with such acquisition or
                  purchase,   Guarantor   grants,   or  causes  its   applicable
                  Subsidiary  to grant,  to Lender a first  priority,  perfected
                  security  interest in the  securities  and assets  directly or
                  indirectly  acquired  in  form  and  substance  acceptable  to
                  Lender.

         6.       Section 6.9 of the Agreement is revised and amended to read in
         its entirety as follows:

                  "6.9  Indebtedness.   The  total   consolidated   Indebtedness
         (excluding  indebtedness  between  Guarantor's  consolidated  group  of
         companies  outstanding  pursuant to the SMSD Transactions) of Guarantor
         and its Subsidiaries (including Borrower) shall not exceed $75,000,000.
         Neither SMSD nor Guarantor will incur any  unconsolidated  Indebtedness
         other than Indebtedness to Lender. The indebtedness of Borrower to SMSD
         arising  pursuant  to SMSD  Transactions  shall not exceed  $32,500,000
         prior to September  30, 2000,  $35,000,000  on or after  September  30,
         2000,  but  prior  to  September  30,  2001,  $37,500,000  on or  after
         September 30, 2001, but prior to September 30, 2002.  $40,300,000 on or
         after  September  30,  2002,  but  prior to  September  30,  2003,  and
         $43,400,000 at anytime thereafter."

         7.       Section 6.10 of the Agreement shall be amended by inserting at
         the end of the Section the following language:

         "SMSD  shall  engage  in  no  business  or  activity  other  than  SMSD
         Transactions,  managing  indebtedness  within Guarantor's  consolidated
         group of companies,  and incidental  administrative  activities related
         thereto."

         8.       A new Section 6.14 shall be added to the Agreement and shall
         read in its entirety as follows:

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<PAGE>

                  "6.14    Dividends.  Guarantor and Borrower shall not pay any
                   dividends, or permit any of their respective Subsidiaries to
                   pay any dividends or make any distributions, except

                           (a)      any Subsidiary of Guarantor may pay
                  dividends or make distributions to Borrower; and

                           (b)      dividends and distributions as part of the
                  SMSD Transactions."

         9.       A new Section 6.15 shall be added to the Agreement and shall
                  read in its entirety as follows:

                  "6.15  Disposition of Assets.  Borrower and Guarantor will not
         sell  or  otherwise  dispose  of all  or  substantially  all  of  their
         respective  assets,  rights or  properties,  and will not permit any of
         their  respective  Subsidiaries to sell or otherwise  dispose of all or
         substantially all of its assets, rights or properties."

         10.      A new Section 6.16 shall be added to the Agreement and shall
                  read in its entirety as follows:

                  "6.16    SMSD Transactions.  Borrower, SMSD and/or Guarantor
                  will not engage in any SMSD Transaction unless

                           (a)      the SMSD Transaction is in accordance with
                  applicable law;

                           (b)      SMSD, in accordance with its dividend
                  policy, promptly dividends all cash payments it receives from
                  Borrower to Guarantor;

                           (c)      Guarantor immediately loans to Borrower the
                  amount of all dividends received by Guarantor from SMSD; and

                           (d) Borrower's  initial promissory note to Guarantor,
                  and each  subsequent  note to  Guarantor,  is  evidenced  by a
                  promissory note in substantially the form of Exhibit A to this
                  Amendment."

         11.      Section 9.1 is amended to add the following new definitions:

                  ""SMSD" means SMSD Acquisition Corp., a South Dakota corpora-
         tion and wholly-owned Subsidiary of Guarantor."

                  ""SMSD  Transactions"  means  the  dividend  of  one  or  more
         promissory  notes up to the amount  permitted  under the  Agreement  to
         Guarantor  by  Borrower,  the

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<PAGE>

          contribution  of the  notes  to  SMSD by Guarantor, the payment of
          interest on the notes to  SMSD  by  Borrower,  the  dividend  of such
          interest  payments  to Guarantor by SMSD, the lending of money in the
          amount of such dividends to Borrower by  Guarantor,  and the issuance
          of  additional  promissory notes to Guarantor by Borrower."

         12.      This Amendment will become effective upon the last to occur of
         the following events:

                  (a)      the execution and delivery of this Amendment by each
         of Borrower, Guarantor and East West;

                  (b)      the execution and delivery of a Guaranty by SMSD in
         the form of Exhibit B hereto;

                  (c)      the execution and delivery of a Security Agreement by
         SMSD in the form of Exhibit C hereto;

                  (d) the  execution  and delivery to Lender of UCC-1  financing
         statements  naming SMSD as debtor and Lender as secured party  suitable
         for filing in the office of the  Secretary of State of South Dakota and
         Iowa and otherwise in form and substance acceptable to Lender;

                  (e)      the execution and delivery to Lender of a Subordina-
         tion Agreement in the form of Exhibit D by Borrower, Guarantor and
         SMSD;

                  (f) the execution and delivery of a Secretary's Certificate of
         SMSD to Lender  certifying  the  articles  of  incorporation,  by-laws,
         authorizing board  resolutions and incumbent  officers of SMSD, in form
         and substance acceptable to Lender;

                  (g) the delivery to Lender of a good standing  certificate for
         SMSD issued by the Secretary of State of South Dakota dated not earlier
         than November 5, 1999;

                  (h)      the delivery to Lender of a legal opinion of SMSD's
         counsel substantially in the form of Exhibit E hereto;

                  (i) the delivery to Lender of a  certificate  of a Responsible
         Officer  of  Borrower  setting  forth  the  nature  and  extent  of all
         insurance  maintained  by all  Subsidiaries  of  Guarantor  pursuant to
         Section 5.6 of the Agreement and otherwise; and

                  (j) the delivery to Lender of standard  lenders'  loss payable
         endorsements  in favor of Lender on form ACCORD 27 with  respect to the
         insurance  policies  or  other  instruments  or  documents   evidencing
         insurance  coverage on the  properties of Borrower in  accordance  with
         Section  5.6  of the  Agreement  and on  the  properties  of all  other
         Subsidiaries of

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<PAGE>

         Guarantor and endorsements to all such liability insurance policies
         naming Lender as an additional insured thereunder.

         13.  Subject  to the terms and  conditions  of this  Amendment,  Lender
consents to the SMSD  Transactions  and waives any  violations  of the Agreement
that may be caused by the  consummation of the SMSD  Transactions so long as the
SMSD Transactions are consummated expressly as set forth in this Amendment.

         14.  Borrower  shall pay 50% of the legal fees  incurred in  connection
with  the  preparation  of this  Amendment  and the  documents  and  instruments
referred to herein,  and shall pay 100% of all out of pocket  costs  incurred by
the Lender or its attorneys.

         15.  Borrower  expressly  acknowledges  and agrees that all collateral,
security  interests,  liens,  pledges,  and  mortgages  heretofore,  under  this
Amendment, or hereafter granted to Lender, including,  without limitation,  such
collateral,  security interests,  liens, pledges and mortgages granted under the
Agreement,  and all other supplements to the Agreement,  extend to and cover all
of the  obligations  of Borrower to Lender,  now existing or  hereafter  arising
including,  without limitation,  those arising in connection with the Agreement,
as amended by this Amendment,  upon the terms set forth in such agreements,  all
of which security interests,  liens, pledges, and mortgages are hereby ratified,
reaffirmed, confirmed and approved.

         16.  Borrower  represents  and  warrants  to Lender that (i) it has all
necessary  power and authority to execute and deliver this Amendment and perform
its  obligations  hereunder,  (ii) this Amendment and the Agreement,  as amended
hereby,  constitute the legal, valid and binding obligations of Borrower and are
enforceable  against  Borrower in  accordance  with their  terms,  and (iii) all
representations  and  warranties  of Borrower  contained  in the  Agreement,  as
amended,  and all other  agreements,  instruments  and other  writings  relating
thereto, are true, correct and complete as of the date hereof.

         17.  The  parties  hereto  acknowledge  and  agree  that the  terms and
provisions  of  this  Amendment  amend,  add to  and  constitute  a part  of the
Agreement.  Except  as  expressly  modified  and  amended  by the  terms of this
Amendment,  all of the other terms and conditions of the Agreement,  as amended,
and  all  documents   executed  in  connection   therewith  or  referred  to  or
incorporated  therein  remain in full force and effect and are hereby  ratified,
reaffirmed, confirmed and approved.

         18. If there is an express conflict between the terms of this Amendment
and the terms of the  Agreement,  or any of the other  agreements  or  documents
executed in connection  therewith or referred to or  incorporated  therein,  the
terms of this Amendment shall govern and control.

         19.  This Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original.

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<PAGE>

         20. This Amendment was executed and delivered in Chicago,  Illinois and
shall be governed by and  construed in  accordance  with the  internal  laws (as
opposed to conflicts of law provisions) of the State of Illinois.

         IN WITNESS  WHEREOF,  this Fifth Amendment has been duly executed as of
the day and year specified at the beginning hereof.

                                        SMITHWAY MOTOR XPRESS, INC., as Borrower

                                        By:____/s/ G. Larry Owens_______________
                                        Title:_Executive Vice President_________

                                        Address Notice:
                                        P.O. Box 404
                                        Fort Dodge, Iowa 50501
                                        Attn: G. Larry Owens
                                        Facsimile: (515) 576-3304
                                        Tel: (515) 576-7418

                                        SMITHWAY MOTOR XPRESS CORP., as
                                        Guarantor

                                        By:____/s/ G. Larry Owens_______________
                                        Title:__Executive Vice President________

                                        Address Notice:
                                        P.O. Box 404
                                        Fort Dodge, Iowa 50501
                                        Attn: G. Larry Owens
                                        Facsimile: (515) 576-3304
                                        Tel: (515) 576-7418

                                        LASALLE BANK NATIONAL ASSOCIATION,
                                        as Lender

                                        By:____/s/ David A. Chaika______________
                                        Title:__Officer ________________________

                                        Address notices and Lending Office:
                                        135 South LaSalle Street
                                        Chicago, Illinois 60603
                                        Attn: Mr. David A. Chaika
                                        Facsimile: (312) 904-6150

                                        6

<PAGE>

                            CONSENT AND RATIFICATION

                  The undersigned, pursuant to that certain Guaranty dated as of
September 3, 1997, is a guarantor of all of the  obligations  of the Borrower to
the Lender  under the terms of the  Agreement  and hereby  consents to the Fifth
Amendment to the Agreement. Guarantor hereby reaffirms and ratifies his guaranty
as if the same were fully set forth herein.

                                  SMITHWAY MOTOR XPRESS CORP., as Guarantor

                                  By:______/s/ G. Larry Owens___________________
                                  Title:__Executive Vice President______________

                  The undersigned, pursuant to that certain Guaranty dated as of
March 15, 1998, is a guarantor of all of the  obligations of the Borrower to the
Lender  under  the  terms of the  Agreement  and  hereby  consents  to the Fifth
Amendment to the Agreement. Guarantor hereby reaffirms and ratifies his guaranty
as if the same were fully set forth herein.

                                    EAST WEST MOTOR EXPRESS, INC., as Guarantor

                                    By:____/s/G. Larry Owens____________________
                                    Title:__Executive Vice President ___________LEASE AGREEMENT

               LESSOR: Halton Properties LLC

               LESSEE: Greenville First Bank, National Association

<PAGE>

STATE OF SOUTH CAROLINA    )
                           )
COUNTY OF GREENVILLE       )
                                LEASE AGREEMENT

THIS LEASE  AGREEMENT (the "Lease") first made and entered into on the 23rd day
of December, 1999, by and between Halton  Properties,  LLC,  hereinafter called
"Lessor",  and Greenville First Bank, National  Association,  hereinafter called
"Lessee";

                                   WITNESSETH:

WHEREAS, the Lessor is the owner of certain real property located at 112 Haywood
Road in the City of  Greenville,  South  Carolina  as shown on survey for Halton
Properties,  LLC by C. O. Riddle Surveying Co. Inc. dated October 19, 1999, said
survey being recorded in the RMC Office for the City of Greenville in Greenville
County on October 26, 1999, in Book 40Z, Page 33, and a reduced copy of which is
attached hereto as Exhibit A (survey); and,

WHEREAS,  the  Lessor  has  constructed  an  office  building  on  the  Premises
containing approximately 14,000 square feet (herein the "Building") with related
improvements); and,

WHEREAS,  the Lessor desires to lease to Lessee and Lessee desires to lease from
Lessor a portion of the Building  containing  11,607 square feet of office space
with  related  improvements  and  appurtenances,  as more  fully set out  below,
together with a  non-exclusive  right or easement to use all driveways,  parking
areas, retention surface water and other facilities.

NOW, THEREFORE, Lessor and Lessee covenant and agree as follows:

                                    ARTICLE I
                                 GRANT AND TERM

1.01 Premises.  The Lessor,  for and in consideration  of the rents,  covenants,
agreements and stipulations  hereinafter mentioned reserved and contained, to be
paid, kept and performed by the Lessee, by these presents does lease and rent to
the said Lessee,  and said Lessee hereby agrees to lease and take upon the terms
and conditions which hereinafter appear a portion of the Improvements containing
11,607 square feet of office  space,  together  with a  non-exclusive  right and
easement to use all driveways,  parking areas, retention surface water and other
facilities of Leased Premises.

1.02 Access and Parking.  Lessor  warrants  that there is full and free ingress,
egress and access to and from the Leased Premises from a public highway or road.
The

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<PAGE>

Lessor  hereby  grants  to  Lessee,   its  employees,   visitors  and  guests  a
non-exclusive  right and easement to use all driveways and parking facilities at
no charge for the term of the Lease, as same may be extended,  which form a part
of the leased premises,  subject to posted rules and regulations and at the sole
risk of each driver and user of said  facility.  Tenant shall be entitled to the
non-exclusive  use of 3.65  spaces per 1,000  square feet of space  leased.  The
parking  facility  shall not be used for the storage of  abandoned  or defective
vehicles or for any other purpose except transient  parking.  Neither Lessee nor
Lessee's employees, officers, agents, guests, invitees or other persons visiting
the Leased  Premises  shall have any rights to any  particular  parking space or
spaces,  and no special markings or signs may be placed on any parking spaces by
Lessee.

1.03 Term. The period  beginning upon the execution of this Lease  Agreement and
continuing  until the  occupancy  date shall be  hereinafter  referred to as the
"Initial  Term." The twenty (20) year period  beginning  on the first day of the
first  complete   calendar  month  following  the  occupancy  date  (the  "Lease
Commencement  Date") shall be hereinafter  referred to as the "Base Term." Every
twelve (12) calendar month period  following the Lease  Commencement  Date shall
constitute a lease year.

         An Addendum  shall be executed by Lessor and Lessee  prior to occupancy
of the space by Lessee  giving  the  Rental  Commencement  Date of the Base Term
hereof and shall be attached hereto and incorporated herein by reference.

1.04 Renewal  Option.  Providing  Lessee has not defaulted in the performance of
any  condition of this Lease  Agreement,  Lessee shall have the option to extend
the term of this Lease  Agreement for three (3)  additional  periods of five (5)
years from the expiration date of the Base Term (the "Renewal  Term"),  provided
however  that  written  notice is given  Lessor of such  intention to extend the
Lease Agreement one hundred eighty (180) days prior to the expiration  date, and
further  provided that all conditions of said Lease Agreement  except the rental
rate which shall be adjusted as provided herein shall continue in full force and
effect for the period of such  extension,  and there  shall be no  privilege  to
extend  the terms of this  Lease  Agreement  for any  period of time  beyond the
expiration of the agreed upon extended terms.

1.05 Construction of Premises. Prior to the Rental Commencement Date (as defined
in Paragraph  2.01),  Lessor,  at Lessor's sole expense,  shall construct leased
premises  substantially  in  accordance  with the Site plan  included  herein as
Exhibit B, the Building plans  (hereinafter the "Building plan") included herein
as Exhibit C and  specifications  (hereinafter  the  "Specifications")  included
herein as Exhibit D.  Lessee  shall bear any  expense in excess of  Improvements
specified in the within referenced Floor Plan and  Specifications  together with
an additional  charge of twenty  percent (20%) of such excess to cover  Lessor's
overhead,  by  payment  to  Lessor  prior  to  commencement  of such  work.  All
improvements  made to the Leased  Premises  shall be the  property of the Lessor
during the term of this Lease  Agreement and shall remain the property of Lessor
upon  termination of this Lease  Agreement.  Lessor will use its best

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<PAGE>

efforts to have the space completed  within three hundred (300) days of the full
execution of the Lease Agreement.

1.06  Occupancy:  Lease  Commencement  Date.There  shall  be  no  delay  in  the
commencement of the Term of this Lease Agreement and/or payment of the rent. The
Leased Premises shall be ready for occupancy on such date that the  improvements
are substantially completed which shall be defined as either (i) the supervising
architect  certifies  the  Improvements  have been  substantially  completed  in
accordance with the Floor Plan and Specifications and a Certificate of Occupancy
has been issued, or, (ii) the Improvements have been substantially  completed in
accordance with the Floor Plan and Specifications and a Certificate of Occupancy
has not been issued where Lessee causes a delay in preparing the Leased Premises
for occupancy by changing the Floor Plan and Specifications, fails to make other
decisions necessary for preparation of the Leased Premises for occupancy, Lessee
fails to complete work Lessee has  contracted for that is necessary for issuance
of a Certificate of Occupancy or the date of occupancy by Lessee.

         If Lessor fails to have the Leased  Premises ready for occupancy by the
scheduled Lease Commencement Date, then (i) the Lease Commencement Date shall be
extended to the date five (5) days after  Lessor  shall  notify  Lessee that the
Leased  Premises are ready for occupancy (ii) neither Lessor nor Lessor's agent,
officers,  employees,  or  contractors  shall be liable  for any  damage,  loss,
liability or expense caused thereby, (iii) nor shall this Lease Agreement become
void or voidable (unless such failure continues for more than one hundred eighty
(180) days,  in which case Lessee may,  upon twenty (20) days written  notice to
Lessor,  terminate this Lease).  Prior to occupying the Leased Premises,  Lessee
shall  execute  and  deliver  to  Lessor,  a  letter,   in  form  and  substance
satisfactory  to  Lessor  in  its  sole  discretion,   acknowledging  the  Lease
Commencement  Date and certifying that the Improvements  have been completed and
that  Lessee has  examined  and  accepted  the Leased  Premises.  Lessee  hereby
authorizes any agent or employee who receives the keys to the Leased Premises on
behalf of Lessee to execute and deliver such letter.  Lessee shall  conclusively
be deemed to have made such  acknowledgment  and  certification by occupying the
Leased Premises.

                                   ARTICLE II
                                      RENT

2.01 Rent.  Beginning on the Rental  Commencement Date (as hereinafter  defined)
and continuing  throughout the full term of this Lease  Agreement,  Lessee shall
pay to Lessor  without  notice,  demand,  reduction,  abatement,  set off or any
defense,  minimum base rent (the "Base Rent") in equal monthly installments,  in
advance, on or before the first day of each month.  Lessee's obligation to begin
the payment of Base Rent shall be the "Rental  Commencement Date" which shall be
the first business day following the date on which (a) the supervising architect
certifies that Lessor has  substantially

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<PAGE>

completed  construction of the Leased Premises in accordance with the Site Plan,
Building Plan and  Specifications in Exhibit B, Exhibit C and Exhibit D attached
hereto or (b) the date of occupancy by the Lessee,  whichever is sooner.  If the
Rental Commencement Date is a date other than the first day of a calendar month,
the Base Rent  shall be  prorated  daily  from such date to the first day of the
next calendar month and paid on the Rental Commencement Date.

         a. Initial Term.  During the Initial Term, Lessee shall not be required
to pay Rent.

         b. Base Term. The rent during the first five (5) years of the Base Term
shall be as follows but shall be subject to the modifications as provided for in
Exhibit E:

                              Annual               Monthly
                              ------               -------
                  Year 1:   $282,252.06          $23,521.01
                  Year 2:   $289,173.81          $24,097.82
                  Year 3:   $296,303.20          $24,691.93
                  Year 4:   $303,646.48          $25,303.87
                  Year 5:   $311,210.05          $25,934.17

         c.  Adjustment  for Base Rent During  Years Six (6) Through Ten (10) of
the Base Term.  At the end of the fifth  (5th)  lease year  during the Base Term
hereof and effective  simultaneously  with the  commencement of beginning of the
sixth (6th)  lease year of the Base Term,  the Base Rent shall be the greater of
the following:

                                   $311,210.05

                                       OR

         any increase as determined in accordance with the following provisions:

                  (i) As promptly  as  practical  after the end of the  expiring
         term of this Lease Agreement, the Lessor shall compute the increase, if
         any, in the cost of living for the preceding initial lease period based
         upon the "Consumer Price Index-All Items, All Urban Consumers  (1982-84
         = 100)"  (hereinafter  defined*),  published  by the  Bureau  of  Labor
         Statistics of the United States Department of Labor.

                  (ii) The Index  number  indicated  for the month of the rental
         commencement date under "All Items, All Urban Consumers" shall be "base
         Index  number"  and  the  corresponding  Index  number  for  the  month
         preceding the rental  commencement  date for the fifth year of the Base
         Term shall be the current Index number."

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<PAGE>

                  (iii) The current  Index  number  shall be divided by the base
         Index number. From the quotient thereof,  there shall be subtracted the
         integer 1, and any resulting  positive number shall be deemed to be the
         percentage of increase in the cost of living.

                  (iv) The  percentage  of increase  multiplied  by  $282,252.06
         (initial rent) shall be the amount of rent increase  payable during the
         Renewal Term.

                  (v) The fixed rent, as so determined  (i.e.,  the aggregate of
         and  the "increase" as  calculated  herein) shall be due and payable to
         the Lessor  in the same manner as the rent was payable for the original
         term.

                  (vi) If  publication  of the  Consumer  Price  Index  shall be
         discontinued,  the parties hereto shall  thereafter  accept  comparable
         statistics  on the cost of  living  for the City of  Greenville,  South
         Carolina,  as they shall be computed and  published by an agency of the
         United  States or by a responsible  financial  periodical of recognized
         authority  then to be selected by the parties  hereto.  In the event of
         (i) use of comparable  statistics in place of the Consumer  Price Index
         as above  mentioned,  or (ii)  publication of the Index figure at other
         than  monthly  intervals,   there  shall  be  made  in  the  method  of
         computation herein provided for such revisions as the circumstances may
         require to carry out the intent of this Article.

         d.  Adjustment  for Base Rent During Years Eleven (11) Through  Fifteen
(15) of the Base Term. At the end of the tenth (10th) lease year during the Base
Term hereof and effective  simultaneously  with the commencement of beginning of
the eleventh (11th) lease year of the Base Term, the Base Rent shall be adjusted
to reflect any increases in the Consumer Price Index (CPI-U) by multiplying  the
Base Rent in effect  immediately  prior to such  adjustment  by a fraction,  the
numerator  of which shall be the  Consumer  Price  Index  (CPI-U) as of the most
recent  publication  date prior to the  beginning of the eleventh  (11th ) lease
year and the  denominator  of which shall be the Consumer Price Index (CPI-U) as
of the most recent date prior to the  beginning of the  preceding  five (5) year
period  (but in no event  shall  the Base  Rent be  reduced  as a result of such
adjustment);  and the Base Rent thereby  established  by such  adjustment  shall
continue in effect as the Base Rent required to be paid hereunder throughout the
eleventh (11th ) through the fifteenth (15th) lease years of the Base Term.

         e.  Adjustment  for Base Rent During Years Sixteen (16) Through  Twenty
(20) of the Base Term. At the end of the fifteenth  (15th) lease year during the
Base Term hereof and effective simultaneously with the commencement of beginning
of the  sixteenth  (16th)  lease year of the Base  Term,  the Base Rent shall be
adjusted  to reflect  any  increases  in the  Consumer  Price  Index  (CPI-U) by
multiplying  the Base Rent in effect  immediately  prior to such adjustment by a
fraction, the numerator of which shall be the Consumer Price Index (CPI-U) as of
the most recent publication date prior to the beginning of the sixteenth (16th )
lease  year and the  denominator  of which  shall be the

                                       6
<PAGE>

Consumer  Price Index  (CPI-U) as of the most recent date prior to the beginning
of the  preceding  five (5) year  period (but in no event shall the Base Rent be
reduced as a result of such adjustment);  and the Base Rent thereby  established
by such adjustment shall continue in effect as the Base Rent required to be paid
hereunder  throughout the sixteenth  (16th)  through the twentieth  (20th) lease
years of the Base Term.

         f.       Base Rent  During  Renewal  Terms.  For each lease year of the
extended  terms,  the Base Rent shall be subject to adjustment  for increases in
the Consumer Price Index as follows:

         Adjustment for First Extended Term: At the end of the twentieth  (20th)
lease year during the Base Term  hereof and  effective  simultaneously  with the
commencement  of the First  Renewal  Term,  the Base Rent shall be  adjusted  to
reflect any  increases in the Consumer  Price Index (CPI-U) by  multiplying  the
Base Rent in effect  immediately  prior to such  adjustment  by a fraction,  the
numerator  of which shall be the  Consumer  Price  Index  (CPI-U) as of the most
recent  publication  date prior to the beginning of the First  Extended Term and
the  denominator  of which shall be the Consumer  Price Index  (CPI-U) as of the
most recent date prior to the  beginning of the  preceding  five (5) year period
(but in no event shall the Base Rent be reduced as a result of such adjustment);
and the Base Rent  thereby  established  by such  adjustment  shall  continue in
effect as the Base  Rent  required  to be paid  hereunder  throughout  the First
Renewal Term.

         Adjustment  for Second  Extended  Term:  At the end of the fifth  (5th)
lease  year of the First  Renewal  Term and  effective  simultaneously  with the
commencement  of the Second  Renewal  Term,  the Base Rent shall be  adjusted to
reflect any  increases in the Consumer  Price Index (CPI-U) by  multiplying  the
Base Rent in effect during the First  Renewal Term by a fraction,  the numerator
of  which  shall be the  Consumer  Price  Index  (CPI-U)  as of the most  recent
publication  date  prior to the  beginning  of the Second  Renewal  Term and the
denominator  of which shall be the Consumer  Price Index  (CPI-U) as of the most
recent date prior to the beginning of the preceding five (5) year period (but in
no event shall the Base Rent be reduced as a result of such adjustment); and the
Base Rent thereby established by such adjustment shall continue in effect as the
Base Rent required to be paid hereunder throughout the Second Renewal Term.

         Adjustment for Third Extended Term: At the end of the fifth (5th) lease
year  of  the  Second  Renewal  Term  and  effective   simultaneously  with  the
commencement  of the Third  Renewal  Term,  the Base Rent shall be  adjusted  to
reflect any  increases in the Consumer  Price Index (CPI-U) by  multiplying  the
Base Rent in effect during the Second Renewal Term by a fraction,  the numerator
of  which  shall be the  Consumer  Price  Index  (CPI-U)  as of the most  recent
publication  date  prior to the  beginning  of the  Third  Renewal  Term and the
denominator  of which shall be the Consumer  Price Index  (CPI-U) as of the most
recent date prior to the beginning of the preceding five (5) year period (but in
no event shall the Base Rent be reduced as a result of such adjustment);

                                       7
<PAGE>

and the Base Rent  thereby  established  by such  adjustment  shall  continue in
effect as the Base  Rent  required  to be paid  hereunder  throughout  the Third
Renewal Term.

(* Consumer Price Index for All Urban Consumers (CPI-U),  U.S. City Average, all
items,  1982-1984 = 100, as published by the U.S. Department of Labor, Bureau of
Labor  Statistics,  or if such index be discontinued,  the generally  recognized
successor index.)

2.02 Late  Payments.  All unpaid Rent and other sums of whatever  nature owed by
Lessee to Lessor under this Lease and  remaining  unpaid ten (10) days after the
due date shall bear a late penalty equal to five (5%) percent of the then amount
due  which  shall be  Additional  Rent  hereunder.  Acceptance  by Lessor of any
payment from Lessee hereunder in an amount less than that which is currently due
shall in no way  affect  Lessor's  rights  under  this Lease and shall in no way
constitute an accord and satisfaction.

2.03 Other Additional Rent Provisions. Any amounts required to be paid by Lessee
under this  Article II and any changes or expenses  incurred by Lessor on behalf
of Lessee (including any construction costs and change orders incurred by Lessor
shall be considered  Additional  Rent.  Any failure on the part of Lessee to pay
such  Additional Rent when and as the same shall become due shall entitle Lessor
to  the  remedies  available  to it  for  non-payment  of  Base  Rent.  Lessee's
obligations  for payment of Additional  Rent shall begin to accrue on the Rental
Commencement  Date.  As used in this  Lease  Agreement,  the term  "Rent"  shall
include Base Rent and Additional Rent, except as otherwise expressly provided to
the contrary.

                                   ARTICLE III
                               OPERATING EXPENSES

3.01 Operating Expense  Escalation.  During the Base Term, the annual Rent shall
be adjusted for increases in "operating expenses",  (as hereinafter defined), in
the following manner:

         (a) The  Rent  includes  an  expense  stop of Four and  44/100  Dollars
($4.44) per  rentable  square foot equal to an annual rate of Fifty One Thousand
Five  Hundred  Thirty Five and 08/100  Dollars  ($51,535,08).  The first  year's
Estimated  CAM and Operating  Expenses are attached  hereto as Exhibit F. Lessee
shall be  responsible  for its  proportionate  share  of the  cost of  Operating
Expenses over the expense stop amount stated  herein.  Those  expenses which are
not directly  attributable  to the Leased Premises shall be prorated by dividing
the total number of rentable square feet in the Leased  Premises  (11,607 square
feet) by the total number of square feet in the entire  building  (14,000 square
feet). The Lessee's prorata share of the building is 82.91%.

         (b) Lessor shall furnish Lessee,  annually,  statements prepared by the
Lessor  showing  Operating  Expenses for the lease year.  If operating  expenses
during the lease

                                       8
<PAGE>

year are greater than the expense stop amount, Lessee shall pay its share of the
overage to Lessor within thirty (30) days after  receiving such  statements.  As
used in this  Article,  "Operating  Expenses"  shall  include  only those  items
customarily  considered  in good  accounting  practice to be building  operating
expenses, to wit normal repairs not covered by insurance, maintenance, cleaning,
janitorial  services,  utilities,  supplies,  real  estate  taxes,  common  area
maintenance  charges,  premiums for fire,  casualty and liability insurance with
respect to the building containing the Leased Premises,  and management fees not
in excess of four percent (4%) of gross  collections.  Operating  Expenses shall
not  include,   among  other   things,   any  expenses   related  to  financing,
depreciation,  amortization,  ground rents, costs of a capital nature, costs for
which Lessee or other  occupants of the Building are charged other than pursuant
to the Operating Expense clauses,  costs of procuring lessees,  attorneys' fees,
accounting fees, nor administrative salaries and wages. Operating Expenses shall
include only those costs actually paid by Lessor.

                                   ARTICLE IV
                                    SERVICES

4.01 Services.  Subject to conditions beyond Lessor's control,  Lessor covenants
at its expense to:

(a)      Furnish elevator service during Lessee's business hours.

(b)      Furnish hot and cold water for lavatory purposes.

(c)      Furnish electric current for lighting and office purposes and for
         parking areas.

(d)      Keep  the  sidewalks,  corridors,  stairways,  and all  other  means of
         ingress and egress for the Leased  Premises  clean,  in good repair and
         safe  condition,  well marked,  well lighted and free of ice,  snow and
         debris.

(e)      Keep all lawns,  shrubbery  and trees on the  grounds  of the  building
         containing the Leased  Premises in good order and condition and neat in
         appearance,  and replant grass and shrubbery when necessary to maintain
         the grounds in good appearance and condition.

(f)      Provide Lessee access to the Leased Premises twenty-four (24) hours per
         day, seven (7) days per week.

(g)       Common Area janitorial.

                                       9
<PAGE>

                                    ARTICLE V
                                  HOLDING OVER

5.01 Rent for Holding Over Period.  In the event Lessee remains in possession of
the Leased Premises after the termination of the Base Term or any extended term,
the same shall be  construed  to be a tenancy from month to month with said rent
during hold over period to be 150% of the current term rental on the same rental
as was being paid  monthly at the  termination  of the Lease,  and upon the same
other terms specified herein.

                                   ARTICLE VI
                                TAXES/ASSESSMENTS

6.01 Personal Property Taxes. Lessee shall timely pay directly to the applicable
governmental taxing authorities any and all taxes with respect to any and all of
Lessee's  personal  property which shall at any time be situated in, at or about
the  Leased  Premises,   including,   but  not  limited  to  Lessee's  leasehold
improvements, trade fixtures, inventory and personal property.

                                   ARTICLE VI
                                    INSURANCE

7.01 Fire and Extended Coverage Insurance. During the Base Term, and any Renewal
Term, Lessor covenants and agrees to maintain in full force a policy or policies
of  insurance  on the  Premises,  including  Improvements  thereon  or  contents
thereof,  providing insurance  protection against risks of direct physical loss,
specifically  including  protection  against  damage or  destruction by fire and
other  casualties  excluding  flood  and  earthquake,  and  vandalism  insurance
(formerly known as "All Risk Insurance").  Said insurance shall be in the amount
equal to the full replacement value of the permanent  improvements thereon under
a policy or policies issued by responsible  insurance companies approved by both
parties and authorized to do business in the State of South Carolina. The Lessee
agrees  that it will not do or keep  anything  in or about the  Leased  Premises
which will contravene the Lessor's  policies  insuring against loss or damage by
fire or other  hazards,  or which will  prevent the Lessor from  procuring  such
policies in companies acceptable to the Lessor.

7.02 Insurance by Lessee.  The Lessee covenants and agrees, at its sole cost and
expense,  to maintain in full force a policy of insurance on the interior of the
Leased  Premises  and  upon  its  personal  property,  fixtures,  equipment  and
merchandise  therein,  providing  insurance  protection  against risks of direct
physical loss,  specifically  including protection against damage or destruction
by fire and other  casualties,  excluding  flood and  earthquake  and  vandalism
insurance (formerly known as All Risk Insurance).  Further, Lessor covenants and
agrees that it will require all other tenants of the

                                       10

<PAGE>

Premises to carry, at a minimum, the insurance coverage specified herein. Lessor
shall  provide  evidence of said  insurance  coverage to Lessee from any and all
other tenants of the Premises.

7.03 Lessee's  Liability  Insurance.  The Lessee agrees to indemnify and/or hold
and save the  Lessor  harmless,  at all times  during the  primary  term and any
extension hereof,  from and against any losses,  damages,  costs, or expenses on
account  of any claim for  injury by a third  party,  including  death or damage
either to person or property sustained by the Lessor which arises out of the use
and  occupancy  of the Leased  Premises  by the Lessee,  its agents,  employees,
invitees, and customers (except those resulting from Lessor's willful,  unlawful
or negligent  acts).  Lessee shall give Lessor notice of all claims made against
the Lessee that come within the scope of the  indemnification  in this paragraph
and shall not settle any such claim  without the Lessor's  written  consent.  In
connection  herewith,  Lessee  shall,  at its own  expense,  provide and keep in
force,  for the  benefit  and  protection  of the  Lessor  and  Lessee  as their
respective interests may appear, and with the Lessor as an additional insured, a
general  liability  policy or  policies  in  standard  form  issued by  reliable
companies  approved by both  parties and licensed to do business in the State of
South Carolina,  protecting both the recovery being waived by the Lessee against
Lessor,  its successors and assigns against any and all liability  occasioned by
accident or disaster on the Leased  Premises with minimum limits of $300,000 for
injury to any one person and $1,000,000 per  occurrence.  A renewal policy shall
be secured not less than ten (10) days prior to the expiration of any policy and
a certificate of the insurer evidencing such insurance, with proof of payment of
premium, shall be deposited with the Lessor upon the Lessor's request.

7.04 Lessor's  Liability  Insurance.  The Lessor agrees to indemnify and/or hold
and save  the  Lessee  harmless,  at all  times  during  the  Base  Term and any
extension hereof,  from and against any losses,  damages,  costs, or expenses on
account  of any claim for  injury by a third  party,  including  death or damage
either to person or property sustained by the Lessee which arises out of the use
and occupancy of the Premises by the Lessor,  its agents,  employees,  invitees,
and  customers  (except  those  resulting  from  Lessee's  willful,  unlawful or
negligent acts).  Lessor shall give Lessee notice of all claims made against the
Lessor that come within the scope of the  indemnification  in this paragraph and
shall not  settle  any such claim  without  the  Lessee's  written  consent.  In
connection  herewith,  Lessor  shall,  at its own  expense,  provide and keep in
force,  for the  benefit  and  protection  of the  Lessee  and  Lessor  as their
respective interests may appear, and with the Lessee as an additional insured, a
general  liability  policy or  policies  in  standard  form  issued by  reliable
companies  approved by both  parties and licensed to do business in the State of
South Carolina,  protecting both the recovery being waived by the Lessor against
Lessee, its successors and against any and all liability  occasioned by accident
or disaster on the Premises  with  minimum  limits of $300,000 for injury to any
one person and $1,000,000 per occurrence.  A renewal policy shall be secured not
less than ten (10) days prior to the expiration of any policy

                                       11
<PAGE>

and a  certificate  of the  insurer  evidencing  such  insurance,  with proof of
payment  of  premium,  shall be  deposited  with the  Lessee  upon the  Lessee's
request.

7.05 Copies to Lessor.  All policies  required in Paragraphs 7.02, 7.03 and 7.04
shall be in such form and with such  insurance  company  as shall be  reasonably
satisfactory  to both parties with  provisions for at least ten (10) days notice
to  Lessor  or  Lessee  of  cancellation.  At least  ten (10)  days  before  the
expiration  of any such policy,  Lessee  shall  supply  Lessor with a substitute
therefor or with evidence of payment of premiums  therefor.  In the event either
party does not maintain  the  insurance  herein  called for, the other party may
obtain said  insurance and the other party shall  reimburse the party in default
for the premiums due on said insurance on demand.

7.06 Indemnity.  Lessee will indemnify and save Lessor harmless from and against
any and all claims, actions,  damages,  liability and expense in connection with
loss of life,  personal injury and/or damage to property which occur as a result
of the  operation of Lessee's  business in and about the Premises not  resulting
from any acts or omissions of Lessor or Lessor's employees or agents.

7.07 Subrogation. Lessor and Lessee hereby grant to each other, on behalf of any
insurer  providing  insurance  to either  Lessor or Lessee as  required  by this
Lease,  improvements  thereon  or  contents  thereof,  a waiver  of any right of
subrogation  by any such  insurer  that each may  acquire  against  the other by
virtue of payment of any loss under such  insurance.  Each of the parties hereby
waives any rights it may have  against the other party on account of any loss or
damage to its property  (including  the Premises and its contents)  which arises
from any risk ordinarily  covered by fire and extended coverage insurance or any
other  insurance  required  to be carried  hereunder,  whether or not such other
party may have been  negligent or at fault in causing such loss or damage.  Each
party shall obtain a clause or  endorsement  in the  policies of such  insurance
which either party obtains in connection with the Premises or Leased Premises to
the effect that the insurer waives,  or shall otherwise be denied,  the right of
subrogation against the other party for loss covered by such insurance.

                                       12
<PAGE>

                                  ARTICLE VIII
                                     REPAIRS

8.01 Repairs. All repairs to the Leased Premises,  including but not limited to,
the  plumbing,   heating,   air-conditioning,   electric  wiring,  and  lighting
apparatus,  necessary  to keep them in proper  order  shall be made by Lessor at
Lessor's   expense,   unless  said  repairs  are  made  necessary   through  the
carelessness  or neglect of  Lessee's  agents and  employees,  damage by fire or
other  casualty  excepted.  Any  repairs,  changes,  or  additions to the Leased
Premises  which may be  required  in order to bring  the  Leased  Premises  into
compliance  with any Federal,  State,  or  municipal  law,  statute,  ordinance,
decision, rule or regulation shall be made by Lessor at Lessor's expense.

8.02  Alterations and Remodeling.  After the commencement of the Base Term, with
the  permission  and prior  written  consent of the  Lessor,  which shall not be
unreasonably withheld, Lessee may make such alterations,  additions, decorations
and changes to the interior of the building and exterior  lighting of the Leased
Premises as it deems  necessary for its purposes  provided that the value of the
buildings and improvements are not thereby  diminished  subject to the following
conditions:

         (a) That if any such work increases any insurance  premiums,  taxes, or
other costs or expenses relating to the Leased Premises, Lessee shall timely and
fully pay and satisfy same.

         (b) That no  casualty or  mechanics  or  materialmen's  claims or liens
shall be created  upon the Leased  Premises  or  elsewhere  by reason of or with
respect to the work or a condition of the Leased Premises  thereafter  resulting
from said work; and

         (c) That upon  expiration  or any  earlier  termination  of the  Lease,
Lessee  shall,  at its cost and expense,  upon the election of Lessor,  promptly
remove the alterations and repairs and restore the Leased Premises the condition
existing prior to installation of the same. Any and all  alterations,  additions
and  improvements  to the  Leased  Premises  (other  than  inventory  and  trade
fixtures)  installed  by or on behalf of Lessee shall  immediately,  at Lessor's
option,  become  part of the  Leased  Premises  and at the  expiration  or other
termination of this Lease shall be surrendered to the Lessor.

                                   ARTICLE IX
                           USE AND CONDUCT OF BUSINESS

9.01 Use of the Leased  Premises.  At the  commencement of the Base Term of this
Lease,  the Leased  Premises  may be used by the  Lessee  for  office  space and
related  activities for Greenville  First Bank. The Leased Premises shall not be
used for any illegal  purposes,  or in violation of any valid  regulation of any
governmental body, nor in any manner to create any nuisance or trespass.

9.02 Nuisance. Lessee agrees not to create or allow any nuisance to exist on the

                                       13
<PAGE>

Premises, and to abate any nuisance that may arise, promptly and free of expense
to Lessor.

9.03 Compliance with Regulations. Lessee shall comply with all laws, ordinances,
orders,  rules and regulations  (hereinafter  "Rules and  Regulations"  attached
hereto as  Exhibit  G) and  requirements  of all  federal,  state and  municipal
governments  and  appropriate  departments,   commissions  boards  and  officers
thereof,  which  may be  applicable  to any  Lessee  improvements.  Lessee  will
likewise  observe and comply  with the  requirements  of all  policies of public
liability,  fire and all other types of insurance and all other  instruments  of
record at any time in force with respect to the Leased Premises.

9.04 Zoning.  Lessee acknowledges that the use of the Leased Premises is subject
to any applicable regulations, zoning ordinances,  including Planned Development
Districts, if applicable,  of any governmental authority and Lessee agrees to be
bound by all  terms  and  conditions  imposed  by such  governmental  authority,
including any traffic restrictions,  use restrictions and other conditions which
plan  approval  is  conditioned  upon and all present  and future  zoning  laws,
ordinances,   resolutions  and  regulations  of  any  appropriate   governmental
authority.

9.05 Lessee's Right to Contest  Regulations.  Lessee shall have the right, after
notice to Lessor to contest by appropriate  legal  proceedings,  without cost or
expense  to  Lessor,  the  validity  of any law,  ordinance,  order,  rule,  and
regulation  or  requirement  of the nature  herein  referred  to and to postpone
Lessee's  compliance with the same,  provided such contest shall be promptly and
diligently  prosecuted  by and at the expense of Lessee so that Lessor shall not
thereby  suffer  any  civil,  or be  subjected  to any  criminal,  penalties  or
sanctions  and that  Lessee  shall  properly  protect and save  harmless  Lessor
against any liability and claims for any such  non-compliance or postponement of
compliance.

                                    ARTICLE X
                                 QUIET ENJOYMENT

10.01 It is a  condition  of this  Lease that  Lessor has a good and  marketable
title to the Premises free and clear of all liens and encumbrances  except those
to which Lessee has specifically consented in writing; that Lessor has the right
to lease the same;  that Lessor  warrants and will defend  Premises  unto Lessee
against the lawful claims of all persons  whomsoever;  that so long as the rents
are being paid in the manner herein  provided and the covenants,  conditions and
agreements  herein being all and  singularly  kept,  fulfilled  and performed by
Lessee, Lessee shall lawfully, peacefully and quietly hold, occupy and enjoy the
Leased  Premises  during the term herein  granted  without  any let,  hindrance,
ejection or molestation by Lessor or any person claiming under Lessor.

                                       14
<PAGE>

                                   ARTICLE XI
                                  ENVIRONMENTAL

11.01  Lessor's  Environmental  Warranty.  Prior to the  signing of this  Lease,
Lessor has not caused or permitted  persons with whom Lessor have  contracted to
cause (a) any  violation  of any  federal,  state or local  law,  ordinance,  or
regulation  enacted related to  environmental  conditions on or about the Leased
Premises, including, but not limited to soil and groundwater conditions, nor (b)
engaged in the use, generation,  release, manufacture,  production,  processing,
storage,  or disposal of any Hazardous  Substance (as  hereinafter  defined) on,
under,  or about the Leased  Premises.  The term  "Hazardous  Substance" as used
herein shall include,  without limitation,  flammable,  explosives,  radioactive
materials, asbestos, polychlorinated biphenyls (PCB's), chemicals known to cause
cancer or reproductive  toxicity,  pollutants,  contaminants,  hazardous wastes,
toxic products,  and substances  declared to be hazardous or toxic under any law
or regulation promulgated by any governmental authority.

11.02 Hazardous  Waste.  Lessee covenants and warrants that it will not cause or
permit to be brought upon the Leased  Premises or installed in any  buildings or
improvements  thereon any asbestos in any form,  urea  formaldehyde  insulation,
transformers or any other equipment which contain  dielectric  fluid  containing
levels of  polychlorinated  biphenyl in excess of fifty parts per million of any
other chemical material or substance which is regulated as toxic or hazardous or
exposure to which is  prohibited,  limited or  regulated by any federal or state
authority  or which may or could  pose a hazard  to the  health or safety of the
occupants of the Leased  Premises or the owners of the property  adjacent to the
Leased Premises.  The Lessee shall not install,  store, use, treat, transport or
dispose of on the Leased Premises any regulated  hazardous or toxic materials or
waste,  and in the  event of any such  installation,  storage,  use,  treatment,
presence,  transportation  or disposal during the term of this Lease, the Lessee
shall  remove  any  such  hazardous  materials  or  waste  and  comply  with the
regulations and orders of any authority having  jurisdiction of the same, all at
the  expense  of the  Lessee,  including  necessary  removal,  cleanup  or other
remediation,  and if Lessee  shall fail to proceed  with such  removal or comply
with such  regulations or orders,  the Lessor may declare this Lease in default.
Lessee shall indemnify  Lessor and hold Lessor harmless from any and all losses,
damages or expenses  which may be incurred by Lessor for the presence or removal
from the Leased Premises of any such hazardous  materials or waste caused by any
activity of Lessee on the Leased  Premises  and the  liability  of the Lessee to
Lessor under the covenants hereof shall survive termination of this Lease or any
transfer of the leasehold estate or the fee estate by either Lessor or Lessee.

                                       15

<PAGE>

                                   ARTICLE XII
                                     SIGNAGE

12.01  Lessee may  furnish and  install an  identification  sign in front of the
Building, which bears the name of the business and/or logo. Such design shall be
submitted to Lessor for Lessor's approval. The Lessee shall not place, erect nor
maintain on any exterior surface of the Leased Premises,  or anywhere outside of
the Leased Premises, any sign, lettering decoration, or advertising.

                                  ARTICLE XIII
                                   DESTRUCTION

         If,  during the Base Term of this Lease or any extension  thereof,  the
Leased Premises is:

         (a) destroyed by fire or any other casualty whatsoever, or;

         (b)  partially  destroyed  so as  to  render  the  Premises  unfit  for
occupancy  or Lessee's  reasonable  beneficial  use and  enjoyment or conduct of
Lessee's usual business therein, or;

         (c) destroyed by a casualty which is not covered by Lessor's insurance,
or if such  casualty is covered by Lessor's  insurance but a mortgagee of Lessor
or other  party  entitled  to  insurance  proceeds  fails to make such  proceeds
available  to Lessor in an  amount  sufficient  for  restoration  of the  Leased
Premises (provided,  however,  that Lessor agrees to make a good faith effort to
have such  mortgagee  make  such  proceeds  available  for full  restoration  or
rebuilding);

then Lessor shall make its reasonable  determination as to the length of time to
complete  such repairs  within thirty (30) days of the casualty and shall notify
Lessee of same as  provided  herein.  In the  event  restoration  is  reasonably
estimated  by Lessor to take more than one  hundred  twenty  (120) days from the
date of the  destruction  or  casualty,  or in the  event  the  above  described
destruction  or casualty  should occur within the last two (2) years of the Base
Term or  extension  thereof,  then  Lessor  or  Lessee  shall  have the right to
terminate  this Lease.  In the event that the Lease is  terminated in accordance
with the foregoing provisions, Lessee shall surrender within thirty (30) days of
notification the Leased Premises and interest therein, and Lessee shall pay rent
only to the time of such destruction or casualty.

         In case of the total or  partial  damage or  destruction  to the Leased
Premises,  Lessor shall  re-enter and repossess the same or any part thereof for
the purpose of removing or repairing  the loss or damage and shall  proceed with
due diligence to the repair of same unless,  under the  foregoing  provisions of
this  Article  XII,  the Lease shall have been  terminated.  The Rent during the
period of such repairs  shall be wholly  abated if all of the Premises have been
thus  repossessed by Lessor or otherwise made

                                       16
<PAGE>

unavailable  to Lessee for Lessee's  reasonable  beneficial use and enjoyment or
Lessee's  conduct of Lessee's usual  business  therein for the purpose of repair
for the period that Lessee has been  dispossessed;  and if only a portion of the
Premises is thus  repossessed  or otherwise  unavailable  to Lessee for Lessee's
reasonable  beneficial  use and enjoyment or Lessee's  conduct of Lessee's usual
business  therein,   the  Rent  shall  be  abated  for  such   dispossession  or
unavailability  pro rata,  based on the  portion  of the  Leased  Premises  thus
repossessed  or  rendered  unavailable  during  the  period of  repossession  or
unavailability.  Any Rent abatement  under this Article XII shall commence as of
the date of the destruction.

         Lessor shall not be required to rebuild, repair, or replace any part of
the personal property , furniture,  equipment,  fixtures, and other improvements
which may have been placed by Lessee or other lessees within  Building or Leased
Premises,  unless the damage thereto is caused by the sole negligence or willful
act or omission or default  hereunder of Lessor or Lessor's  agents,  employees,
subtenants,  assignees, or independent  contractors.  Any insurance which may be
carried by Lessor or Lessee for damage to the Building or to the Leased Premises
or to any personal  property,  fixtures,  and related items therein shall be for
the sole  benefit  of the  party  carrying  such  insurance  and  under its sole
control;  provided,  however,  Lessor shall carry  insurance  for the benefit of
Lessor and Lessee  sufficient to cover the full replacement cost of the shell of
the Leased Premises and an amount equal to the initial Lessee  improvements  and
related  allowances  set forth in Article VII of this Lease as well as insurance
sufficient to cover Lessee's furniture,  equipment, fixtures, personal property,
and other  improvement  that Lessor shall have liability  therefor under Article
VII.

         Should  Building  or the  Premises be  destroyed  or damaged by fire or
other casualty that is due to the direct negligence or willful or wanton conduct
of Lessee or Lessee's agents,  employees,  subtenants,  assignees or independent
contractors,  Lessor may repair such damage, and there shall be no apportionment
or abatement of Rent.

                                   ARTICLE XIV
                                  CONDEMNATION

14.01  Lessor,  within  ten (10) days of  Lessor's  receipt of any notice of the
institution of condemnation proceedings or threat thereof with respect to all or
any part of the  Leased  Premises,  shall give  written  notice to Lessee of the
same. Lessee shall have the right,  option, to terminate this Lease within sixty
(60) days after receipt of said notice from the Lessor should such  condemnation
affect twenty percent (20%) or more of the Leased Premises and Lessee determines
that such  condemnation  will  interfere  with Lessee's  ability to continue its
business  operations in substantially  the same manner or space as existed prior
to the  condemnation  or deed in lieu thereof.  Lessee's  obligation  under this
Lease  including but not limited to Lessee's  obligation to pay rent  hereunder,
shall cease upon  Lessee's  termination  of this Lease  pursuant to the terms of
this paragraph; however, the Lessee shall be obligated to pay all rent due on or
before  the  date  of

                                       17
<PAGE>

termination  down through the date Lessee  surrenders  possession  of the Leased
Premises to the  Lessor.  Lessee may assert a separate  claim to the  condemning
authority for its damages.

                                   ARTICLE XV
                                     DEFAULT

15.01 Default by Lessee.  The  occurrence  of any of the following  events shall
constitute a default under this Lease:

         (a)  Lessee  fails  to pay any  installment  of rent  within  ten  (10)
business days after such  installment is due, and fails to cure such delinquency
within five (5) business days after actual  receipt of written notice thereof by
Lessee from Lessor:

         (b) Lessee fails to pay any additional  item or any other charge or sum
required to be paid by Lessee  hereunder  within  thirty (30) days after  actual
receipt of written notice thereof by Lessee from Lessor; or

         (c) Lessee  fails to perform or commence in good faith and proceed with
reasonable  diligence  to perform any of its  covenants  under this Lease within
thirty (30) days after actual  receipt of written  notice thereof by Lessee from
Lessor.

15.02  Lessor's  Remedies.  In the event  Lessee is in default  pursuant  to the
conditions set forth in Section 14.01 above, Lessor,  during the continuation of
such  default,  shall  have the  option  of  pursuing  either  of the  following
remedies:

         (a) Lessor may terminate this Lease, in which event Lessee  immediately
shall  surrender  possession of the Leased  Premises.  All obligations of Lessee
under the  Lease,  including  Lessee's  obligation  to pay rent under the Lease,
shall cease upon the date of termination  except for Lessee's  obligation to pay
rent due and outstanding as of the date of termination.

         (b) Lessor, without terminating the Lease, may require Lessee to remove
all property from the Leased Premises within thirty (30) days so that Lessor may
re-enter  and relet the  premises to  minimize  Lessor's  damages.  In the event
Lessee  shall fail to remove all  property  within  thirty  (30) days after said
demand,  Lessor  shall be  entitled  to remove  Lessee's  property  to a storage
facility,  and all reasonable  costs of such removal and storage shall be deemed
additional  rent under the Lease for which  Lessee is  responsible  for payment.
Lessor may enforce all of its rights and  remedies  under this Lease,  including
the right to recover the rent as it becomes due hereunder,  provided that Lessor
shall have an affirmative  obligation to use Lessor's best efforts to re-let the
Leased Premises and to mitigate its damages under the Lease.

         (c) Lessor may accelerate and declare the entire  remaining unpaid rent
for the balance of this Lease to be  immediately  due and payable  forthwith and
may, at

                                       18

<PAGE>

once,  take legal  action to recover  and collect  the same,  such amount  being
discounted  to present  value using the prime rate  published by a national bank
acceptable  to Lessee and Lessor and such  amount  reduced by the amount of rent
Lessor will receive by reletting  the premises for the  remainder of the term of
portion thereof.

         (d) If this  Lease is  terminated  as set  forth,  Lessor may relet the
Leased  Premises  (or any portion  thereof) for such rent and upon such terms as
Lessor is able to obtain  (which  may be for  lower or  higher  rent,  and for a
shorter or longer term), and Lessee shall be liable for all damages sustained by
Lessor,  including but not limited to any deficiency in Rent for the duration of
the Lease Term (or for the period of time which would have remained in the Lease
Term in the absence of any  termination,  leasing fees,  attorneys'  fees, other
marketing and collection  costs and all expenses of placing the Leased  Premises
in first class rentable condition).

         (e) Nothing contained herein diminishes any right Lessor may have under
South  Carolina  law to sue  Lessee for  damages in the event of any  default by
Lessee under this Lease,  or from pursuing any other remedy  available to Lessor
at law or in equity.

                                   ARTICLE XVI
                            BANKRUPTCY OR INSOLVENCY

16.01 In the event that Lessee shall be adjudged  bankrupt or  insolvent,  or if
any receiver  shall be appointed for the business and property of Lessee,  or if
any assignment shall be made of Lessee's  property for the benefit of creditors,
then Lessor may terminate this Lease forthwith.

                                  ARTICLE XVII
                      LESSEE'S RIGHT TO SUBLEASE AND ASSIGN

17.01 Lessee may not sublet the Leased Premises or assign this Lease without the
prior written consent of the Lessor, which shall not be unreasonably withheld or
delayed and if such consent is granted, Lessee shall remain liable to Lessor for
the faithful  performance  of all of the  covenants  and  conditions,  including
rental payment, required to be kept and performed under the terms of this Lease.
Any  assignment  by  operation  of law as a  result  of a  corporate  merger  or
re-organization  shall not  require  the  previous  written  consent  of Lessor.
Notwithstanding  anything  contained  in this Lease to the contrary and provided
such transfer does not change the use as allowed in Paragraph 9.01, Lessee shall
have the right,  without obtaining the consent of Lessor,  to assign,  sublet or
otherwise  transfer  Lessee's interest in or under this Lease to Lessee's parent
corporation,  any  subsidiary  of  Lessee or to any  other  affiliate  of Lessee
(collectively,  "Permitted Transfer"). In addition, Lessee shall not be required
to comply  with any other  requirements  under  this Lease  which  relates to an
assignment,   subletting  or  other  transfer  of  Lessee's  interest  hereunder
(including, without limitation, payment of any transfer fee) if such assignment,
subletting  or other  transfer is a Permitted  Transfer.

                                       20
<PAGE>

However,  no Permitted  Transfer shall relieve Lessee from any obligations under
this Lease.

17.02 Violation. Any violation of any provision of this Lease, whether by act or
omission, by any assignee or subtenant of Lessee, shall be deemed a violation of
such provision by the Lessee,  it being the intention and meaning of the parties
hereto that the Lessee  shall assume and be liable to the Lessor for any and all
acts and  omissions of any and all  assignees or  subtenants  of Lessee.  If the
Leased  Premises or any part  thereof is sublet or occupied by any person  other
than the Lessee,  Lessor,  in the event of Lessee's  default,  may and is hereby
empowered to collect rent from the  subtenant or occupant;  the Lessor may apply
the net amount received by it to the rent herein reserved and no such collection
shall be deemed a release  of the Lessee  from the  further  performance  of the
covenants herein contained.

                                  ARTICLE XVIII
                       LESSOR'S RIGHT TO MORTGAGE AND SELL

18.01 Estoppel Certificate.  Within five (5) days after written request therefor
by either  Lessor or Lessee to the  other,  or in the event  that upon any sale,
assignment,  hypothecation  of the Premises,  and/or the land  thereunder,  or a
leasehold loan by Lessee of its leasehold estate herein,  an estoppel  statement
shall be required  from Lessor or Lessee.  Lessor and Lessee agree to deliver to
each other,  in  recordable  form, a  certificate  to any proposed  mortgagee or
purchaser,  certifying  that this Lease is in full force and effect,  that there
are no defenses thereto, or stating those claimed by Lessor or Lessee, and as to
such other matters as may be reasonably requested.

18.02  Subordination and Attornment.  Upon Lessor's request,  during the term of
this Lease,  Lessee shall execute a  subordination  agreement in recordable form
wherein  Lessee shall agree that this Lease is and shall be  subordinate  to the
lien of any mortgages in any amount or amounts on all or any part of the land or
buildings comprising the Premises,  or on or against Lessor's interest or estate
therein;  provided  that such  subordination  agreement  shall  recite  that the
subordination  of  Lessee's  interests  pursuant  thereto  are  subject  to  the
agreement by the mortgagee  named in any such mortgage to recognize the Lease of
Lessee  in the event of  foreclosure  of any such  mortgage  if Lessee is not in
default under the Lease. Lessee covenants and agrees to execute and deliver upon
demand such further  instruments  evidencing such subordination of this Lease to
the lien of any such  mortgage as may be required by the Lessor  within ten (10)
days of demand therefor.  Notwithstanding anything hereinabove contained, in the
event the holder of any such mortgage shall at any time elect to have this Lease
constitute a prior or superior lien to its mortgage, then and in such event upon
any such mortgage holder  notifying  Lessee to that effect,  this Lease shall be
deemed prior and superior in lien to such mortgage  irrespective of whether this
Lease is dated prior to or subsequent to the date of such mortgage or lease.

                                       20
<PAGE>

         If Lessor  enters into one or more  mortgages  and Lessee is advised in
writing of the name and address of the mortgagee under such mortgage,  then this
Lease  shall not be  terminated  or  canceled  on account of any  default by the
Lessor in the performance of any of the terms, covenants or conditions hereof on
its part contained, until Lessee shall have given written notice of such default
to such mortgagee,  specifying the default,  in which event such mortgagee shall
have the right to cure Lessor's  default as otherwise  provided herein and which
cure shall be accepted by Lessee.

         Lessee  shall,  in the  event  any  proceedings  are  brought  for  the
foreclosure  of or in the event of sale  under any  mortgage  made by the Lessor
covering the Premises, attorn to the purchaser upon any such foreclosure of sale
and recognize such purchaser as the Lessor under this Lease.

         Further,  Lessee will  simultaneously  with the execution of this Lease
Agreement,  execute the Subordination,  Nondisturbance and Attornment  Agreement
attached hereto as Exhibit H.

18.03  Transfer of  Lessor's  Interest.  Lessor  shall have the right to convey,
transfer or assign,  by sale or  otherwise,  all or any part of its  interest in
this Lease or the  Premises at any time and from time to time and to any person,
subject to the terms and conditions of this Lease. All covenants and obligations
of  Lessor  under  this  Lease  shall  not  cease  upon  the  execution  of such
conveyance, transfer or assignment, but such covenants and obligations shall run
with the land and shall be binding upon any subsequent owner thereof.

                                   ARTICLE XIX
                              SURRENDER OF PREMISES

19.01  Trade  Fixtures.  All  equipment  and every  other item of  property  not
permanently attached to the Premises and not paid for by Lessor, and any of such
items  leased by Lessee under bona fide leases from third party  owners,  are to
remain  and be the  property  of  Lessee  and  Lessee  is to have the  right and
privilege of removing any and all such property and equipment at any time during
the  continuance of this Lease or any  extensions  hereof and within thirty (30)
days thereafter.  In the event the aforesaid  equipment is not removed by Lessee
within said thirty (30) day period,  title thereto shall  automatically  pass to
and vest in Lessor.  If said  equipment  is removed,  Lessee  shall  restore the
Premises to their condition prior to the removal of such property. It is further
understood  and  agreed  that the  buildings  and  structures  installed  on the
Premises  by Lessor,  may not be removed  by Lessee at the  termination  of this
Lease.

19.02 Surrender. The Lessee shall on the expiration or the sooner termination of
the Lease Term surrender to Lessor the Leased Premises, including all buildings,
replacements,  changes, additions, and improvements constructed or placed by the

                                       21
<PAGE>

Lessee thereon, except for all moveable trade fixtures,  equipment, and personal
property  belonging to the Lessee,  broom-clean,  free of sub-tenancies,  and in
good condition and repair, reasonable wear and tear excepted.

                                   ARTICLE XX
                                  MISCELLANEOUS

21.01 Lessor's Entry. The Lessor shall have the right to enter upon the Premises
at all reasonable times upon twenty four (24) hours prior notice during the term
of this Lease for the purposes of inspection, maintenance, repair and alteration
and to show the same to prospective lessees or purchasers.

21.02 Nature and Extent of Agreement.  This  instrument and exhibits,  Rules and
Regulations and Riders, if any,  attached hereto contain the complete  agreement
of the parties  regarding the terms and conditions of the lease of the Premises,
and there are no oral or  written  conditions,  terms,  understandings  or other
agreements  pertaining  thereto which have not been  incorporated  herein.  This
instrument may be amended from time to time by written  addendum  signed by both
parties.  This  instrument  creates only the  relationship  of Lessor and Lessee
between the parties  hereto as to the Premises;  and nothing herein shall in any
way be  construed  to  impose  upon  either  party  hereto  any  obligations  or
restrictions  not herein  expressly  set  forth.  The laws of the State of South
Carolina shall govern the validity, interpretation,  performance and enforcement
of this Lease.

21.03 Partial  Invalidity.  If any term,  covenant or condition of this Lease or
the application thereof to any person or circumstances  shall, to any extent, be
invalid or  unenforceable,  the remainder to this Lease,  or the  application of
such term, covenant or condition to persons or circumstances other than those as
to which it is held invalid or unenforceable,  shall not be affected thereby and
each term, covenant or condition of this Lease shall be valid and be enforceable
to the fullest extent permitted by law.

21.04 Recording. This Lease shall not be recorded,  however, upon the request of
either party hereto the other party shall join in the  execution of a memorandum
or  so-called  "short form" of this Lease for the purpose of  recordation.  Said
memorandum or short form of this Lease shall describe the parties,  the Premises
and the term of this Lease and shall incorporate this Lease by reference.

21.05  Notices.  Any  notice  required  to Lessor or Lessee by the terms of this
Lease  shall be given in writing and shall be deemed  given and  received on the
earlier of (i) the date actually received or (ii) five (5) days after deposit of
the  same  in  registered  or  certified  United  States  mail,  return  receipt
requested,  postage  prepaid,  and addressed to the party due such notice at the
address set forth below or at such other  address as either Lessor or Lessee may
give in writing to the other for such notices.

                                       22

<PAGE>

         By Lessee to Lessor:               Halton Properties LLC
                                            9 Caledon Court
                                            Suite B
                                            Greenville, SC  29615
                                            Attention:  Mark A. Cothran

         By Lessor to Lessee:               Greenville First Bank, National Bank
                                            112 Haywood Road
                                            Greenville, SC  29615
                                            Attention:  Art Seaver

21.06 Lessor's Right to Perform Lessee's Covenants.  Lessee covenants and agrees
that if it shall at any time fail to pay any taxes or other  charges  to be paid
by Lessee in  accordance  with the  provision of Article IV, or to take out, pay
for,  maintain or deliver any of the  insurance  policies  required by Lessee in
Article V, or shall  fail,  within  the time  limits  after the  notice  therein
specified  of any event of default  has been given to make any other  payment or
perform any other act on its part to be made or performed,  then Lessor may, but
shall not be  obligated so to do, and without  further  notice to or demand upon
Lessee and without waiving or releasing Lessee from any obligations of Lessee in
this Lease contained,

         (a) pay any taxes or other  charges  payable by Lessee  pursuant to the
provisions of Article VI, or

         (b)  take  out,  pay for and  maintain  any of the  insurance  policies
required by Lessee under Article VII, or

         (c) make any other payment or perform any other act on Lessee's part to
be made or performed as in this Lease provided.

21.07 Statement of Lease  Commencement  Date. Lessee at Lessor's request,  shall
from  time to time  execute  and  deliver  a written  statement  confirming  the
commencement and termination dates of the term of this Lease.

21.08  Attorneys  Fees and  Expenses.  In the event either party  commences  any
action (at law or in  equity),  the  prevailing  party in such  action  shall be
entitled  to an award of its costs and  attorney's  fees  incurred  against  the
non-prevailing party whether the action be based on contract or tort theory.

21.09 "Reasonable Consent" Provisions. To the extent any provision of this Lease
may call for the  "reasonable  consent" of either  party to be given,  and where
written  notice is given  requesting  such consent as provided in Section 21.05,
such consent shall be deemed "given" unless a written refusal to consent is sent
to the  requesting

                                       23

<PAGE>

party within twenty (20) business days after the mailing of the written  request
for consent.

21.10  Applicable  Law. Any  controversy  or claim arising out of or relating to
this Lease  Agreement  shall be governed by the  substantive law of the State of
South  Carolina  without  consideration  of the  conflicts  of law rules of said
state.

21.11  Captions.  The  captions  or headings at the  beginning  of articles  and
sections of this Lease are included for  convenience  only and in no way define,
limit or describe the scope of any provision hereof.

21.12  Binding  Effect.  This Lease shall be binding upon and shall inure to the
benefit of the parties hereto and their respective successors and assigns.

21.13  Duplicate  Counterparts.  This  Lease  may be  executed  in  one or  more
counterparts,  each  of  which  shall  be an  original  and all of  which  shall
constitute one and the same instrument.

21.14  Additional  Documents.  Each party  shall,  at the  request of the other,
execute, acknowledge, (if appropriate) and deliver such additional documents and
instruments,  and do such other acts as may be necessary or  convenient  to call
out the  purposes  and  intent of this  Lease and to permit the Lessee to record
this Lease and grant  security  interests  therein.  This Lease may be signed in
triplicate originals by the parties.

21.15 Addendum.  Modifications to this Lease Agreement, if any, are presented in
Exhibit I which is attached to and made a part of this Lease  Agreement.  In the
event of any inconsistency  between the provisions  contained within the body of
this Lease  Agreement and the  Addendum,  the  provisions of the Addendum  shall
control.

                                       24

<PAGE>

IN  TESTIMONY  WHEREOF,  the parties  hereto have  caused  these  presents to be
executed in their  respective  names by their duly  authorized  representatives,
executing this instrument in triplicate originals,  as of the day and year first
above written.

IN THE PRESENCE OF:

                                    Lessor:  Halton Properties, LLC

______________________________      By:/s/ Mark A. Cothran
Witness
                                    Mark A. Cothran, Member

______________________________      Date of Execution: 12/23/99
Witness

                                    Lessee:  Greenville First Bank,
                                    National Association

______________________________      By:/s/ R. Arthur Seaver
Witness
                                    Print Name: R. Arthur Seaver, Jr.
______________________________
Witness                             Its: President

                                    Date of Execution: 12/23/99

<PAGE>

                               LISTING OF EXHIBITS

EXHIBIT A           Survey

EXHIBIT B           Site Plan

EXHIBIT C           Building Plan

EXHIBIT D           Building Specifications

EXHIBIT E           Total Estimated Construction Costs

EXHIBIT F           Estimated CAM and Operating Expenses

EXHIBIT G           Rules and Regulations

EXHIBIT H           Subordination, Nondisturbance and Attornment Agreement

EXHIBIT I           Lessees Right of First Refusal

<PAGE>
Exhibit E

The total estimated construction costs for the building shell,  Greenville First
Bank N.A.  tenant  upfit and all site  improvements  (page two of  Exhibit E) is
$2,092,858.0  (The Estimate).  The Estimate does not include the tenant upfit on
the approximately  2,393 SF. of unfinished space for lease. The unfinished 2,393
will have only the  building  shell  improvements  as  provided in the plans and
specifications Exhibits C and D.

Within Sixty (60) days of Occupancy of the Leased Premises by the Lessee, Lessor
will provide a final  accounting  of actual  construction  costs (Costs) for the
building  shell,   Greenville   First  Bank  N.A.  tenant  upfit  and  all  site
improvements.  Lessor will  notify  Lessee in writing of any  variances  between
Costs and the  Estimate.  Should the Costs be more than the  Estimate the Lessee
shall pay to lessor  the  difference  within  Seven  (7)  business  days of such
notice.  Should the Costs be less than the  Estimate,  the  lessor  shall pay to
lessee the  difference  within Seven (7) business  days of such notice or credit
the difference to the next scheduled rental payment.

<PAGE>

Exhibit F

Halton Road estimated Operating expenses

Estimated per s.f. CAM and Operating Expenses
21-Dec-99

CAM Charges

Taxes                                                 $1.15
Insurance                                             $0.09
                                                      -----
                                                      $1.24            $1.24

Water (irrigation)                                    $0.02
Common area lighting                                  $0.13
Landscape maintenance                                 $0.24
Maintenance reserve                                   $0.04
Management fee 4% of collections                      $0.97
                                                      -----
                                                      $1.40            $1.40

Operating Expenses

Water (domestic)                                      $0.02
Electricity                                           $1.25
Natural gas                                           $0.03
Janitorial (common areas only)                        $0.21
Elevator                                              $0.14
Maintenance                                           $0.10
Miscellaneous                                         $0.05
                                                      -----
                                                      $1.80            $1.80
                                                                       $4.44

Rental rate                                          $19.88           $24.32

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}]]