Document:

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                                                                 EXHIBIT 10.3(G)

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (this "Agreement"), by and between MarineMax,
Inc., a Delaware corporation (the "Company"), and Michael H. McLamb
("Executive") is entered into and effective as of the 13 day of March, 2002.

                                    RECITALS

         A.       The Company is engaged primarily in the business of selling,
renting, leasing, and servicing boating, nautical, and other related lifestyle
entertainment products and services, and related activities (collectively, the
"Watercraft Business"), and Executive has experience in such business.

         B.       Executive currently serves as Vice President and Chief
Financial Officer of the Company. The Company desires to assure itself of the
continued availability of Executive.

         C.       The Company desires to employ Executive, and Executive desires
to accept such employment, pursuant to the terms and conditions set forth in
this Agreement, which shall replace the existing employment agreement between
the Company and Executive.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the mutual promises, terms,
covenants, and conditions set forth herein and the performance of each, it is
hereby agreed as follows:

         1. EMPLOYMENT AND DUTIES.

                  (a) EMPLOYMENT. The Company hereby employs Executive, and
Executive hereby agrees to act, as Vice President and Chief Financial Officer of
the Company. As such, Executive shall have responsibilities, duties, and
authority reasonably accorded to, expected of, and consistent with Executive's
position, and Executive shall report directly to the Chief Executive Officer and
to the Board of Directors of the Company (the "Board"). Executive hereby accepts
this employment upon the terms and conditions herein contained and, subject to
paragraph l(c) hereof, agrees to devote his best efforts and substantially all
of his business time and attention to promote and further the business of the
Company.

                  (b) POLICIES. Executive shall faithfully adhere to, execute,
and fulfill all lawful policies established by the Company.

                  (c) OTHER ACTIVITIES. Executive shall not, during the term of
his employment hereunder, be engaged in any other business activity pursued for
gain, profit, or other pecuniary advantage if such activity interferes in any
material respect with Executive's duties and responsibilities hereunder. The
foregoing limitations shall not be construed as prohibiting Executive from (i)
making personal investments in such form or manner as will neither require his
services in the operation or affairs of the companies or enterprises in which
such investments are made nor subject Executive to any conflict of interest with
respect to his

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duties to the Company, (ii) serving on any civic or charitable boards or
committees, (iii) delivering lectures or fulfilling speaking engagements, or
(iii) serving, with the written approval of the Board, as a director of one or
more public corporations, in each case so long as any such activities do not
significantly interfere with the performance of Executive's responsibilities
under this Agreement.

                  (d) PLACE OF PERFORMANCE. Executive shall not be required by
the Company or in the performance of his duties to relocate his primary
residence.

         2. COMPENSATION. For all services rendered by Executive, the Company
shall compensate Executive as follows:

                  (a) BASE SALARY Effective the date hereof, the base salary
payable to Executive shall be Two Hundred Twenty-five Thousand Dollars
($225,000) per year, payable on a regular basis in accordance with the Company's
standard payroll procedures, but not less than monthly. On at least an annual
basis, the Board or a committee of the Board shall review Executive's
performance and may make increases to such base salary if, in its sole
discretion, any such increase is warranted. In no event shall Executive's base
salary be reduced to a level below Two Hundred Twenty-five Thousand Dollars
($225,000).

                  (b) BONUS OR OTHER INCENTIVE COMPENSATION. Executive shall be
eligible to receive a bonus or other incentive compensation as may be determined
by the Board or a committee of the Board based upon such factors as the Board or
such committee, in its sole discretion, may deem relevant, including, without
limitation, the performance of Executive and the Company; provided, however,
that the Board or a committee of the Board shall establish for each fiscal year
of the Company a bonus program in which Executive shall be entitled to
participate, which provides Executive with a reasonable opportunity, based on
the past compensation practices of the Company and Executive's then base salary,
to maintain or increase Executive's total compensation compared to the previous
fiscal year.

                  (c) EXECUTIVE PERQUISITES, BENEFITS, AND OTHER COMPENSATION.
Executive shall be entitled to receive additional benefits and compensation from
the Company in such form and to such extent as specified below:

                           (i)      REIMBURSEMENT FOR EXPENSES. Reimbursement
for business travel and other out-of-pocket expenses reasonably incurred by
Executive in the performance of his services under this Agreement. All
reimbursable expenses shall be appropriately documented in reasonable detail by
Executive upon submission of any request for reimbursement and shall be in a
format and manner consistent with the Company's expense reporting policy.

                           (ii)     VACATION. Paid vacation in accordance with
the applicable policy of the Company as in effect from time to time, but in no
event shall Executive be entitled to less than four (4) weeks paid vacation per
year.

                           (iii)    OTHER EXECUTIVE PERQUISITES. The Company
shall provide Executive with other executive perquisites as may be made
available to or deemed appropriate for Executive by the Board or a committee of
the Board and participation in all other Company-

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wide employee benefits (including group insurance, pension, retirement, and
other plans and programs) as are available to the Company's executive officers
from time to time.

         3. NON-COMPETITION AGREEMENT.

                  (a) NON-COMPETITION. Executive shall not, during the period of
his employment by or with the Company, and for a period equal to the longer of
two (2) years immediately following the termination of his employment under this
Agreement or the time during which severance payments are being made by the
Company to Executive in accordance with this Agreement, for any reason
whatsoever, directly or indirectly, for himself or on behalf of or in
conjunction with any other person:

                           (i)      OTHER ACTIVITIES. Engage, as an officer,
director, shareholder, owner, principal, partner, lender, joint venturer,
employee, independent contractor, consultant, advisor, or sales representative,
in any Competitive Business within the Restricted Territory;

                           (ii)     SOLICITATION OF EMPLOYEES. Call upon any
person who is, at that time, within the Restricted Territory, an employee of the
Company or any of its subsidiaries, in a managerial capacity for the purpose or
with the intent of enticing such employee away from or out of the employ of the
Company or any of its subsidiaries;

                           (iii)    SOLICITATION OF CUSTOMERS. Call upon any
person or entity that is, at that time, or that has been, within one (1) year
prior to that time, a customer of the Company or any of its subsidiaries, within
the Restricted Territory for the purpose of soliciting or selling products or
services in direct competition with the Company or any of its subsidiaries
within the Restricted Territory;

                           (iv)     SOLICITATION OF ACQUISITION CANDIDATES. Call
upon any prospective acquisition candidate, on Executive's own behalf or on
behalf of any person, which candidate was, to Executive's knowledge after due
inquiry, either called upon by the Company, or for which the Company made an
acquisition analysis, for the purpose of acquiring such candidate.

                  (b) CERTAIN DEFINITIONS. As used in this Agreement, the
following terms shall have the meanings ascribed to them:

                           (i)      COMPETITIVE BUSINESS shall mean any person
that sells, rents, brokers, leases, stores, repairs, restores, or services
recreational boats or other boating products or provides services relating to
recreational boats or other boating products;

                           (ii)     PERSON shall mean any individual,
corporation, limited liability company, partnership, firm, or other business of
whatever nature;

                           (iii)    RESTRICTED TERRITORY shall mean any state or
other political jurisdiction in which, or any location within two hundred (200)
miles of which, the Company or any subsidiary of the Company maintains any
facilities; sells, rents, brokers, leases, stores,

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repairs, restores, or services recreational boats or other boating products; or
provides services relating to recreational boats or other boating products; and

                           (iv)     SUBSIDIARY shall mean the Company's
consolidated subsidiaries, including corporations, partnerships, limited
liability companies, and any other business organization in which the Company
holds at least a fifty percent (50%) equity interest.

                  (c) ENFORCEMENT. Because of the difficulty of measuring
economic losses to the Company as a result of a breach of the foregoing
covenants, and because of the immediate and irreparable damage that could be
caused to the Company for which it would have no other adequate remedy,
Executive agrees that the foregoing covenants may be enforced by the Company in
the event of breach by him, by injunctions and restraining orders.

                  (d) REASONABLE RESTRAINT. It is agreed by the parties that the
foregoing covenants in this paragraph 3 impose a reasonable restraint on
Executive in light of the activities and business of the Company (including the
Company's subsidiaries) on the date of the execution of this Agreement and the
current plans of the Company (including the Company's subsidiaries); but it is
also the intent of the Company and Executive that such covenants be construed
and enforced in accordance with the changing activities, business, and locations
of the Company (including the Company's subsidiaries) throughout the term of
this covenant, whether before or after the date of termination of the employment
of Executive. For example, if, during the term of this Agreement, the Company
(including the Company's subsidiaries) engages in new and different activities,
enters a new business, or establishes new locations for its current activities
or business in addition to or other than the activities or business enumerated
above or the locations currently established therefor, then Executive will be
precluded from soliciting the customers or employees of such new activities or
business or from such new location and from directly competing with such new
business within the Restricted Territory through the term of these covenants.

                  (e) OTHER ACTIVITIES. It is further agreed by the parties
that, in the event that Executive shall cease to be employed hereunder and
enters into a business or pursues other activities not in competition with the
Company (including the Company's subsidiaries), or similar activities or
business in locations, the operation of which, under such circumstances, does
not violate this paragraph 3, and in any event such new business, activities, or
location are not in violation of this paragraph 3 or of Executive's obligations
under this paragraph 3, if any, Executive shall not be chargeable with a
violation of this paragraph 3 if the Company (including the Company's
subsidiaries) shall thereafter enter the same, similar, or a competitive (i)
business, (ii) course of activities, or (iii) location, as applicable.

                  (f) SEPARATE COVENANTS. The covenants in this paragraph 3 are
severable and separate, and the unenforceability of any specific covenant shall
not affect the provisions of any other covenant. Moreover, in the event any
court of competent jurisdiction shall determine that the scope, time, or
territorial restrictions set forth are unreasonable, then it is the intention of
the parties that such restrictions be enforced to the fullest extent that the
court deems reasonable, and the Agreement shall thereby be reformed.

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                  (g) INDEPENDENT AGREEMENT. All of the covenants in this
paragraph 3 shall be construed as an agreement independent of any other
provision in this Agreement, and the existence of any claim or cause of action
of Executive against the Company, whether predicated on this Agreement or
otherwise, shall not constitute a defense to the enforcement by the Company of
such covenants. It is specifically agreed that the period of two (2) years
following termination of employment stated at the beginning of this paragraph 3,
during which the agreements and covenants of Executive made in this paragraph 3
shall be effective, shall be computed by excluding from such computation any
time during which Executive is in violation of any provision of this paragraph
3.

         4. TERM; TERMINATION; RIGHTS ON TERMINATION.

                  (a) TERM. Unless terminated sooner as provided herein, the
term of Executive's employment under this Agreement shall begin on the date
hereof and continue for three (3) years thereafter (the "Initial Term") and
shall continue on a renewal basis from year to year thereafter (each a "Renewal
Term" and with the Initial Term, the "Term") on the same terms and conditions in
effect as of the time of the latest renewal unless and until notice of
non-renewal shall be given by either party to the other not less than sixty (60)
days prior to the end of the then current term.

                  (b) TERMINATION. Executive's employment under this Agreement
may be terminated in any one of the followings ways:

                           (i)      DEATH OF EXECUTIVE. The employment of
Executive shall terminate immediately upon Executive's death provided that the
Company shall, for a period of six (6) months following such death, pay to the
estate of Executive an amount equal to Executive's base salary and any earned
bonus. In the event of such termination, all options to purchase Common Stock of
the Company held by Executive shall thereupon vest and shall be exercisable
during their full term notwithstanding the termination of employment.

                           (ii)     DISABILITY OF EXECUTIVE. If, as a result of
incapacity due to physical or mental illness or injury, Executive shall have
been absent from his full-time duties hereunder for six (6) consecutive months,
then thirty (30) days after receiving written notice (which notice may occur
before or after the end of such six (6) month period, but which shall not be
effective earlier than the last day of such six (6) month period), the Company
may terminate Executive's employment provided Executive is unable to resume his
full-time duties at the conclusion of such notice period. Also, Executive may
terminate his employment if his health should become impaired to an extent that
makes the continued performance of his duties hereunder hazardous to his
physical or mental health or his life, provided that Executive shall have
furnished the Company with a written statement from a qualified doctor to such
effect and provided, further, that, at the Company's request made within thirty
(30) days of the date of such written statement, Executive shall submit to an
examination by a doctor selected by the Company who is reasonably acceptable to
Executive or Executive's doctor and such doctor shall have concurred in the
conclusion of Executive's doctor. In the event Executive's employment under this
Agreement is terminated as a result of Executive's disability, Executive shall
receive from the Company, in a lump-sum payment due within ten (10) days of the
effective date of termination, an amount equal to the average of the base salary
and bonus paid to Executive for

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the two (2) prior full fiscal years, for the lesser of the time period then
remaining under the Term of this Agreement or for one (1) year. In the event of
such termination, all options to purchase Common Stock of the Company held by
Executive shall thereupon vest and shall be exercisable during their full term
notwithstanding the termination of employment.

                           (iii)    TERMINATION BY THE COMPANY FOR GOOD CAUSE.
The Company may terminate Executive's employment upon ten (10) days prior
written notice to Executive for "Good Cause," which shall mean any one or more
of the following: (A) Executive's willful, material, and irreparable breach of
this Agreement; (B) Executive's gross negligence in the performance or
intentional nonperformance (continuing for thirty (30) days after receipt of
written notice of need to cure) of any of Executive's material duties and
responsibilities hereunder; (C) Executive's willful dishonesty, fraud, or
misconduct with respect to the business or affairs of the Company, which
materially and adversely affects the operations or reputation of the Company;
(D) Executive's conviction of a felony crime involving dishonesty or moral
turpitude; or (E) a confirmed positive illegal drug test result. In the event of
a termination by the Company for Good Cause, Executive shall have no right to
any severance compensation.

                           (iv)     TERMINATION BY THE COMPANY WITHOUT GOOD
CAUSE OR BY EXECUTIVE WITH GOOD REASON; FAILURE OF THE COMPANY TO RENEW. The
Company may terminate Executive's employment without Good Cause during the Term
hereof upon the approval of a majority of the members of the Board, excluding
Executive if Executive is a member of the Board. Executive may terminate his
employment under this Agreement for Good Reason upon ten (10) days prior notice
to the Company. In addition, the Company may determine not to renew Executive's
employment under this Agreement.

                                    (A) RESULT OF TERMINATION BY THE COMPANY
WITHOUT GOOD CAUSE OR BY EXECUTIVE WITH GOOD REASON. Should the Company
terminate Executive's employment without Good Cause or should Executive
terminate his employment with Good Reason during the Term, or should the Company
determine not to renew Executive's employment under this Agreement at any time
following the Initial Term, the Company shall pay to Executive for eighteen (18)
months after such termination, on such dates as would otherwise be paid by the
Company, an amount equal to the average of the base salary and bonus paid to
Executive for the two (2) prior full fiscal years. Further, if the Company
terminates Executive's employment without Good Cause or Executive terminates his
employment with Good Reason, (1) all options to purchase Common Stock of the
Company held by Executive shall vest thereupon and shall be exercisable during
their full term notwithstanding the termination of employment, and (2) Executive
shall be entitled to receive all other unpaid benefits due and owing through
Executive's last day of employment. Further, any termination by the Company
without Good Cause or by Executive for Good Reason shall operate to shorten the
period of non-competition set forth in paragraph 3 and during which the terms of
paragraph 3 apply to one (1) year from the date of termination of employment.

                                    (B) DEFINITION OF GOOD REASON. Executive
shall have "Good Reason" to terminate his employment upon the occurrence of any
of the following events: (1) Executive is demoted by means of a reduction in
authority, responsibilities, or duties; (2) Executive's annual base salary as
determined pursuant to paragraph 2 is reduced to a level that is

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less than ninety percent (90%) of the base salary paid to Executive during the
prior contract year under this Agreement; (3) a change is made in Executive's
bonus other than as contemplated by paragraph 2(b), unless Executive has agreed
in writing to that demotion, reduction, or change; or (4) the Company breaches a
material provision of this Agreement.

                           (v)      RESIGNATION BY EXECUTIVE WITHOUT GOOD
REASON. Executive may, without cause, and without Good Reason terminate his own
employment under this Agreement, effective thirty (30) days after written notice
is provided to the Company or such earlier time as any such resignation may be
accepted by the Company. If Executive resigns or otherwise terminates his
employment without Good Reason, Executive shall receive no severance
compensation.

                           (vi)     CHANGE IN CONTROL OF THE COMPANY.

                                    (A) POSSIBILITY OF CHANGE IN CONTROL.
Executive understands and acknowledges that the Company may be merged or
consolidated with or into another entity and that such entity shall
automatically succeed to the rights and obligations of the Company hereunder or
that the Company may undergo another type of Change in Control. In the event
such a merger or consolidation or other Change in Control is initiated prior to
the end of the Term, then the provisions of this paragraph 4(b)(vi) shall be
applicable.

                                    (B) TERMINATION BY EXECUTIVE. Subject to the
exceptions set forth in paragraph 4(b)(vi)(E), if any Change of Control is
initiated during Executive's employment hereunder, Executive may, at his sole
discretion, elect to terminate his employment under this Agreement by providing
written notice to the Company at least five (5) business days at any time prior
to or within one (1) year after the closing of the transaction giving rise to
the Change in Control. In such case, the applicable provisions of paragraph
4(b)(iv) hereof will apply as though the Company had terminated Executive's
employment without Good Cause during the Term; however, under such
circumstances, the amount of the severance payments due to Executive shall be
paid in a lump sum, the non-competition and non-solicitation provisions of
paragraph 3 hereof shall all apply for a period of one (1) year from the
effective date of termination.

                                    (C) EFFECTIVE DATE OF CHANGE IN CONTROL. For
purposes of applying paragraph 4 hereof under the circumstances described in
4(b)(vi)(B) above, the effective date of the Change in Control will be the
closing date of the transaction giving rise to the Change in Control and all
compensation, reimbursements, and lump-sum payments due Executive must be paid
in full by the Company following such Change in Control promptly following
Executive's election to terminate his employment. Further, Executive will be
given sufficient time and opportunity to elect whether to exercise all or any of
his options to purchase the Company's Common Stock, such that he may convert the
options to shares of the Company's Common Stock at or prior to or within one (1)
year after the closing of the transaction giving rise to the Change in Control,
if he so desires.

                                    (D) DEFINITION OF CHANGE IN CONTROL. A
"Change in Control" shall mean a change in control of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Securities

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Exchange Act of 1934, as amended, as in effect on the date of this Agreement, or
if Item 6(e) is no longer in effect, any regulations issued by the Securities
and Exchange Commission pursuant to the Securities Exchange Act of 1934, as
amended, which serve similar purposes; provided further that, without
limitation, a Change in Control shall be deemed to have occurred if and when:

                                             (1) TURNOVER OF BOARD. The
following individuals no longer constitute a majority of the members of the
Board: (A) the individuals who, as of the date of this Agreement, constitute the
Board (the "Current Directors"); (B) the individuals who thereafter are elected
to the Board and whose election, or nomination for election, to the Board was
approved by a vote of at least two-thirds (2/3) of the Current Directors then
still in office (such directors becoming "Additional Directors" immediately
following their election); and (C) the individuals who are elected to the Board
and whose election, or nomination for election, to the Board was approved by a
vote of at least two-thirds (2/3) of the Current Directors and Additional
Directors then still in office (such directors also becoming "Additional
Directors" immediately following their election);

                                             (2) TENDER OFFER. A tender offer or
exchange offer is made whereby the effect of such offer is to take over and
control the Company, and such offer is consummated for the equity securities of
the Company representing twenty percent (20%) or more of the combined voting
power of the Company's then outstanding voting securities;

                                             (3) MERGER OR CONSOLIDATION. The
stockholders of the Company shall approve a merger, consolidation,
recapitalization, or reorganization of the Company, a reverse stock split of
outstanding voting securities, or consummation of any such transaction if
stockholder approval is not obtained, other than any such transaction that would
result in at least seventy-five percent (75%) of the total voting power
represented by the voting securities of the surviving entity outstanding
immediately after such transaction being beneficially owned by the holders of
outstanding voting securities of the Company immediately prior to the
transaction, with the voting power of each such continuing holder relative to
other such continuing holders not substantially altered in the transaction; or

                                             (4) LIQUIDATION OR SALE OF ASSETS.
The stockholders of the Company shall approve a plan of complete liquidation of
the Company or an agreement for the sale or disposition by the Company of all or
a substantial portion of the Company's assets to another person or entity, which
is not a wholly owned subsidiary of the Company (i.e., fifty percent (50%) or
more of the total assets of the Company).

                                    (E) EXCEPTIONS FROM CHANGE IN CONTROL. A
Change in Control shall not be considered to have taken place for purposes of
this paragraph 4 in the event that both (1) the Change in Control shall have
been specifically approved by at least two-thirds (2/3) of the Current and
Additional Directors (as defined above) and (2) the provisions of this Agreement
remain in full force and effect as to Executive. Sales of the Company's Common
Stock beneficially owned or controlled by the Company shall not be considered in
determining whether a Change in Control has occurred.

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                                    (F) EXCESS PARACHUTE PAYMENTS. Anything in
this Agreement to the contrary notwithstanding, in the event it shall be
determined that any payment, distribution or other action by the Company to or
for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, (including
any additional payments required under this Section 4((b)(vii)(F)) (a "Payment")
would be subject to an excise tax imposed by Section 4999 of the Internal
Revenue Code of 1986, as amended (the "Code"), or any interest or penalties are
incurred by the Executive with respect to any such excise tax (such excise tax,
together with any such interest and penalties, are hereinafter collectively
referred to as the "Excise Tax"), the Company shall make a payment to the
Executive (a "Gross-Up Payment") in an amount such that after payment by the
Executive of all taxes (including any Excise Tax) imposed upon the Gross-Up
Payment, the Executive retains (or has had paid to the Internal Revenue Service
on his behalf) an amount of the Gross-Up Payment equal to the Excise Tax imposed
upon the Payments The Gross-Up Payment will be due and payable by the Company or
its successor within ten (10) days after Executive delivers a written request
for reimbursement accompanied by a copy of his tax return(s) showing the Excise
Tax actually incurred by Executive.

                                    (G) NOTIFICATION. Executive shall be
notified in writing by the Company at any time that the Company anticipates that
a Change in Control may take place.

                  (c) PAYMENTS TO TERMINATION DATE. Upon termination of
Executive's employment under this Agreement for any reason provided above,
Executive shall be entitled to receive all compensation earned and all benefits
and reimbursements due through the effective date of termination. Additional
compensation subsequent to termination, if any, will be due and payable to
Executive only to the extent and in the manner expressly provided above. All
other rights and obligations of the Company and Executive under this Agreement
shall cease as of the effective date of termination, except that the Company's
obligations under paragraph 8 (relating to indemnification of Executive) and
Executive's obligations under paragraph 3 (relating to non-competition),
paragraph 5 (relating to return of Company property), paragraph 6 (relating to
inventions), paragraph 7 (relating to trade secrets), and paragraph 9 (relating
to prior agreements) shall survive such termination in accordance with their
terms.

                  (d) FAILURE TO PAY EXECUTIVE. If termination of Executive's
employment arises out of the Company's failure to pay Executive on a timely
basis the amounts to which he is entitled under this Agreement or as a result of
any other breach of this Agreement by the Company, as determined by a court of
competent jurisdiction or pursuant to the provisions of paragraph 14, the
Company shall pay all amounts and damages to which Executive may be entitled as
a result of such breach, including interest thereon and all reasonable legal
fees and expenses and other costs incurred by Executive to enforce his rights
hereunder. Further, none of the provisions of paragraph 3 (relating to
non-competition) shall apply in the event Executive's employment under this
Agreement is terminated as a result of a breach by the Company.

         5. RETURN OF COMPANY PROPERTY. All records, designs, patents, business
plans, financial statements, manuals, memoranda, lists, and other property
delivered to or compiled by Executive by or on behalf of the Company (or its
subsidiaries) or its representatives, vendors, or customers that pertain to the
business of the Company (or its subsidiaries) shall be and remain the property
of the Company and be subject at all times to its discretion and control.
Likewise,

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all correspondence, reports, records, charts, advertising materials, and other
similar data pertaining to the business, activities, or future plans of the
Company (or its subsidiaries) that is collected by Executive shall be delivered
promptly to the Company without request by it upon termination of Executive's
employment.

         6. INVENTIONS. Executive shall disclose promptly to the Company any and
all significant conceptions and ideas for inventions, improvements, and valuable
discoveries, whether patentable or not, which are conceived or made by
Executive, solely or jointly with another, during the period of employment or
within one (1) year thereafter, and which are directly related to the business
or activities of the Company (or its subsidiaries) and which Executive conceives
as a result of his employment by the Company. Executive hereby assigns and
agrees to assign all his interests therein to the Company or its nominee.
Whenever requested to do so by the Company, Executive shall execute any and all
applications, assignments, and other instruments that the Company shall deem
necessary to apply for and obtain Letters Patent of the United States or any
foreign country or to otherwise protect the Company's interest therein.

         7. TRADE SECRETS. Executive agrees that he will not, during or after
the period of employment under this Agreement, disclose the specific terms of
the Company's relationships or agreements with its respective significant
vendors or customers, or any other significant and material trade secret of the
Company, whether in existence or proposed, to any person, firm, partnership,
corporation, or business for any reason or purpose whatsoever.

         8. INDEMNIFICATION. In the event Executive is made a party to any
threatened, pending, or completed action, suit, or proceeding, whether civil,
criminal, administrative, or investigative (other than an action by the Company
against Executive), by reason of the fact that he is or was performing services
under this Agreement, then the Company shall indemnify Executive against all
expenses (including attorneys' fees), judgments, fines, and amounts paid in
settlement, as actually and reasonably incurred by Executive in connection
therewith to the maximum extent permitted by applicable law. The advancement of
expenses shall be mandatory. In the event that both Executive and the Company
are made a party to the same third-party action, complaint, suit, or proceeding,
the Company agrees to engage competent legal representation, and Executive
agrees to use the same representation, provided that if counsel selected by the
Company shall have a conflict of interest that prevents such counsel from
representing Executive, Executive may engage separate counsel and the Company
shall pay all attorneys' fees of such separate counsel. Further, while Executive
is expected at all times to use his best efforts to faithfully discharge his
duties under this Agreement, Executive cannot be held liable to the Company for
errors or omissions made in good faith if Executive has not exhibited gross,
willful, and wanton negligence and misconduct or performed criminal and
fraudulent acts that materially damage the business of the Company.
Notwithstanding this paragraph 8, the provision of any written indemnification
agreement applicable to the directors or officers of the Company to which
Executive shall be a party shall apply rather than this paragraph 8 to the
extent inconsistent with this paragraph 8.

         9. NO PRIOR AGREEMENTS. Executive hereby represents and warrants to the
Company that the execution of this Agreement by Executive and his employment by
the Company and the performance of his duties hereunder will not violate or be a
breach of any

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agreement with a former employer, client, or any other person or entity.
Further, Executive agrees to indemnify the Company for any claim, including, but
not limited to, attorneys' fees and expenses of investigation, by any such third
party that such third party may now have or may hereafter come to have against
the Company based upon or arising out of any non-competition, invention, or
secrecy agreement between Executive and such third party that was in existence
as of the date of this Agreement.

         10. ASSIGNMENT; BINDING EFFECT. Executive understands that he is being
employed by the Company on the basis of his personal qualifications, experience,
and skills. Executive agrees, therefore, he cannot assign all or any portion of
his performance under this Agreement. Subject to the preceding two (2) sentences
and the express provisions of paragraph 11 below, this Agreement shall be
binding upon, inure to the benefit of and be enforceable by the parties hereto
and their respective heirs, legal representatives, successors, and assigns.

         11. COMPLETE AGREEMENT. This Agreement is not a promise of future
employment. Executive has no oral representations, understandings, or agreements
with the Company or any of its officers, directors, or representatives covering
the same subject matter as this Agreement. This written Agreement is the final,
complete, and exclusive statement and expression of the agreement between the
Company and Executive and of all the terms of this Agreement, and it cannot be
varied, contradicted, or supplemented by evidence of any prior or
contemporaneous oral or written agreements. This written Agreement may not be
later modified except by a further writing signed by a duly authorized officer
of the Company and Executive, and no term of this Agreement may be waived except
by writing signed by the party waiving the benefit of such term. This Agreement
hereby supersedes any other employment agreements or understandings, written or
oral, between the Company and Executive.

         12. NOTICE. Whenever any notice is required hereunder, it shall be
given in writing addressed as follows:

         To the Company:                  MarineMax, Inc.
                                          18167 U.S. Highway 19 North, Suite 499
                                          Clearwater, Florida 33764
                                          Attention: Chief Executive Officer

         To Executive:                    Michael H. McLamb
                                          18167 U.S. Highway 19 North, Suite 499
                                          Clearwater, Florida 33764

         In either case with a            Greenberg Traurig, LLP
         copy to:                         2375 East Camelback Road
                                          Suite 700
                                          Phoenix, Arizona  85016
                                          Attention: Robert S. Kant, Esq.

         Notice shall be deemed given and effective on the earlier of three (3)
days after the deposit in the U.S. mail of a writing addressed as above and sent
first class mail, certified,

                                       11

<PAGE>

return receipt requested, or when actually received. Either party may change the
address for notice by notifying the other party of such change in accordance
with this paragraph 13.

         13. SEVERABILITY; HEADINGS. If any portion of this Agreement is held
invalid or inoperative, the other portions of this Agreement shall be deemed
valid and operative and, so far as is reasonable and possible, effect shall be
given to the intent manifested by the portion held invalid or inoperative. The
paragraph headings herein are for reference purposes only and are not intended
in any way to describe, interpret, define or limit the extent or intent of the
Agreement or of any part hereof.

         14. MEDIATION ARBITRATION. All disputes arising out of this Agreement
shall be resolved as set forth in this paragraph 15. If any party hereto desires
to make any claim arising out of this Agreement ("Claimant"), then such party
shall first deliver to the other party ("Respondent") written notice ("Claim
Notice") of Claimant's intent to make such claim explaining Claimant's reasons
for such claim in sufficient detail for Respondent to respond. Respondent shall
have ten (10) business days from the date the Claim Notice was given to
Respondent to object in writing to the claim ("Notice of Objection"), or
otherwise cure any breach hereof alleged in the Claim Notice. Any Notice of
Objection shall specify with particularity the reasons for such objection.
Following receipt of the Notice of Objection, if any, Claimant and Respondent
shall immediately seek to resolve by good faith negotiations the dispute alleged
in the Claim Notice, and may at the request of either party, utilize the
services of an independent mediator. If Claimant and Respondent are unable to
resolve the dispute in writing within ten (10) business days from the date
negotiations began, then without the necessity of further agreement of Claimant
or Respondent, the dispute set forth in the Claim Notice shall be submitted to
binding arbitration (except for claims arising out of paragraphs 3 or 7 hereof),
initiated by either Claimant or Respondent pursuant to this paragraph. Such
arbitration shall be conducted before a panel of three (3) arbitrators in Tampa,
Florida, in accordance with the National Rules for the Resolution of Employment
Disputes of the American Arbitration Association ("AAA") then in effect provided
that the parties may agree to use arbitrators other than those provided by the
AAA. The arbitrators shall not have the authority to add to, detract from, or
modify any provision hereof nor to award punitive damages to any injured party.
The arbitrators shall have the authority to order back-pay, severance
compensation, vesting of options (or cash compensation in lieu of vesting of
options), reimbursement of costs, including those incurred to enforce this
Agreement, and interest thereon in the event the arbitrators determine that
Executive was terminated without disability or without Good Cause, as defined in
paragraphs 4(b) and 4(c) hereof, respectively, or that the Company has otherwise
materially breached this Agreement. A decision by a majority of the arbitration
panel shall be final and binding. Judgment may be entered on the arbitrators'
award in any court having jurisdiction. The direct expense of any mediation or
arbitration proceeding and, to the extent Executive prevails, all reasonable
legal fees shall be borne by the Company.

         15. NO PARTICIPATION IN SEVERANCE PLANS. Except as contemplated by this
Agreement, Executive acknowledges and agrees that the compensation and other
benefits set forth in this Agreement are and shall be in lieu of any
compensation or other benefits that may otherwise be payable to or on behalf of
Executive pursuant to the terms of any severance pay arrangement of the Company
or any affiliate thereof, or any other similar arrangement of the

                                       12

<PAGE>

Company or any affiliates thereof providing for benefits upon involuntary
termination of employment.

         16. GOVERNING LAW. This Agreement shall in all respects be construed
according to the laws of the state of Florida, notwithstanding the conflict of
laws provisions of such state.

         17. COUNTERPARTS; FACSIMILE. This Agreement may be executed by
facsimile and in two (2) or more counterparts, each of which shall be deemed an
original and all of which together shall constitute but one and the same
instrument.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

                                 MARINEMAX, INC.

                                 By: /s/ Bill McGill
                                     -------------------------------------------

                                 Title CEO, Chairman
                                       -----------------------------------------

                                 Name: William H. McGill
                                       -----------------------------------------

                                 Its: CEO, Chairman
                                      ------------------------------------------

                                 EXECUTIVE:
                                             /s/ Michael H. McLamb
                                      ------------------------------------------
                                 Michael H. McLamb

                                       13Agreement for Advances

 
Exhibit 10.1

 
 
 

	  [LOGO]
	  	  FEDERAL HOME LOAN BANK OF ATLANTA
	  	  AGREEMENT FOR ADVANCES AND SECURITY
  AGREEMENT WITH BLANKET FLOATING LIEN

	

 
 
 
AGREEMENT, dated as of October 1, 2002 between
BankUnited, FSB 255 Alhambra Circle, Coral Gables, Florida 33134 having its principal place of business at
                                        
                                        
                (“Member”) and the Federal Home Loan Bank of Atlanta, 1475 Peachtree Street, N. E., Atlanta, Georgia 30309 (“Bank”). 
 
WHEREAS, the Member desires from time to time to participate
in the Bank’s credit programs under the terms of this Agreement, and the Bank is authorized to extend credit to the Member pursuant to the provisions of the Federal Home Loan Bank Act, as now and hereafter amended (the “Act”), and the
regulations and guidelines of the Federal Housing Finance Board (the “Board”) or any successor entity now and hereafter in effect (collectively, the “Regulations”); and 
 
WHEREAS, the Bank requires that advances by the Bank be secured pursuant to this Agreement, and the Member
agrees to provide the security the Bank requests in accordance with this Agreement. 
 
NOW THEREFORE, the Member and the Bank agree as follows: 
 
 
ARTICLE l: DEFINITIONS 
 
Section 1.01 Definitions. As used herein, the following terms shall have the following meanings:

 
(A) “Advance” or
“Advances” means any and all loans or other extensions of credit, including all Commitments, heretofore, now or hereafter granted by the Bank to, on behalf of, or for the account of, the Member. 
 
(B) “Application” means a writing, signed by the
Member, and in such form or forms as shall be specified by the Bank from time to time, by which the Member requests, and which if executed by the Bank shall together with this Agreement evidence the terms of, an Advance or a commitment for an
Advance. 
 
(C) “Capital Stock” means
all of the capital stock of the Bank held by the Member and all payments which have been or hereafter are made on account of subscriptions to and all unpaid dividends on such capital stock. 
 
(D) “Collateral” means all property, including the
proceeds thereof, heretofore assigned, transferred or pledged to the Bank by the Member as collateral for Advances or other extensions of credit prior to the date hereof, all Capital Stock, and First Mortgage Collateral, including the proceeds
thereof, which is now or hereafter pledged to the Bank pursuant to Section 3.01 hereof. 
 
(E) “Collateral Maintenance Level” means the aggregate dollar amount equal to such percentage(s) as the Bank may specify from time to time of (1) the outstanding amounts of all Advances; (2)
with respect to each outstanding Swap Transaction, the amount for which the Member is required to maintain Collateral; and (3) any additional obligations and liabilities of the Member to the Bank. The Bank may increase or decrease the Collateral
Maintenance Level at any time. 
 
(F)
“Commitment” or “Commitments” means any and all agreements under which the Bank is contractually obligated to make a loan to, or to make a future payment on behalf or for the account of, the Member (but excluding any obligations
that the Bank may now or hereafter have to honor items or transfer orders under a depository or similar agreement between the Bank and the Member), regardless of whether such obligation is contingent in whole or in part, including, without
limitation, Letters of credit issued for the account of the Member. 
 
(G) “Confirmation of Advance” means a writing or machine readable electronic transmission, in such form or forms as the Bank may generate from time to time, by which the Bank agrees to and confirms the
Member’s request for an Advance or a commitment for an Advance and which, together with this Agreement, shall evidence the terms of such Advance or commitment. 
 

1 

 
(H)
“First Mortgage Collateral” means First Mortgage Documents (excluding securitized loans and participation or other fractional interests therein) and all ancillary security agreements, policies and certificates of insurance or guarantees,
evidences of recordation, applications, underwriting materials, surveys, appraisals, approvals, permits, notices, opinions of counsel and loan servicing data and all other electronically stored and written records or materials relating to the loans
evidenced or secured by the First Mortgage Documents. 
 
(I) “First Mortgage Documents” mean mortgages and deeds of trust (herein “mortgages”) secured by a first lien on one-to-four unit single family dwellings, and all notes, bonds or other instruments (herein
“mortgage notes”) evidencing fully disbursed loans secured by such mortgages and any endorsements or assignments thereof to the Member. 
 
(J) “Indebtedness” means all indebtedness, now or hereafter outstanding, of the Member to the Bank, including, without
limitation, all Advances and all other obligations to pay and liabilities of the Member to the Bank. 
 
(K) “Lendable Collateral Value” means an amount equal to such percentage as the Bank shall from time to time, in its sole
discretion, ascribe to the market value or unpaid principal balances of items of Qualifying Collateral. 
 
(L) “Qualifying Collateral” means First Mortgage Collateral which: (i) is eligible as collateral that can be used to support the
origination of Advances under the terms and conditions of the Act and the Regulations, and satisfies such other requirements as may be established by the Bank; (ii) is owned by the Member free and clear of any liens, encumbrances or other interests
other than the assignment to the Bank hereunder, (iii) has not been in default within the most recent 12-month period excepting only payments which are not past due except as permitted by the Bank’s Credit Policy; (iv) relates to residential
real property on which is located a one-to-four unit single family dwelling that is covered by fire and hazard insurance in an amount at least sufficient to discharge the mortgage loan in full in case of loss and as to which all real estate taxes
are current; (v) has not been classified as substandard, doubtful, or loss by the Member’s regulatory authority or its management; and (vi) does not secure an indebtedness on which any director, officer, employee, attorney or agent of the
Member or any Federal Home Loan Bank is personally liable unless the acceptance of such Collateral by the Bank has been specifically approved by formal resolution of the Board. 
 
(M) “Swap Transaction” means an interest rate swap, interest rate cap, floor or collar, currency
exchange transaction or similar transaction entered into between the Bank and the Member. 
 
 
ARTICLE Il: ADVANCES AGREEMENT 
 
Section 2.01 Advance Documentation. The Member may apply for Advances and commitments for Advances by
completing and submitting an Application to the Bank or by telephonic or other unsigned communication. The Bank may suspend the use of telephonic applications at any time. The terms of each Advance or commitment shall be conclusively established by
this Agreement and by either (i) the Member’s Application when such Application is executed by the Bank without any change, or (ii) in the case of an Application received, completed or modified by the Bank pursuant to a telephonic or other
unsigned communication from the Member (“telephonic application”), by a Confirmation of Advance generated by the Bank. The Member shall be estopped from asserting any claim or defense with respect to the terms applicable to an Advance or a
commitment for an Advance entered into pursuant to a telephonic application unless, within two (2) business days of receipt of the Bank’s Confirmation of Advance, the Member delivers to the Bank a written notice specifying the disputed term(s)
or condition(s) of the Advance or commitment. Within three (3) business days of the date of the Member’s receipt of the Bank’s Confirmation of Advance, the Member shall prepare, sign and submit to the Bank a completed Application
conforming to such Confirmation of Advance. Upon the request of the Bank, the Member shall sign and deliver to the Bank a promissory note or notes in such form as the Bank may reasonably require evidencing any Advance. Unless otherwise agreed to by
the Bank in writing, each Advance shall be made by crediting the Member’s demand deposit account(s) with the Bank. 
 
Section 2.02 Repayment of Advances. The Member agrees to repay each Advance in accordance with this Agreement and the terms and conditions
of the Application or Confirmation of Advance evidencing such Advance. Interest shall be paid on each Advance at the times specified by the Bank in writing and shall be charged for each day that an Advance is 
 

2 

outstanding at the rate applicable to the Advance. The Member shall pay to the Bank, immediately and
without demand, interest on any past due principal of and interest on any Advance at an interest rate which is the greater of (i) the rate applicable to such Advance plus one percent (1%) or (ii) the rate in effect and being charged by the Bank from
time to time on overdrafts on demand deposit accounts of its Members, but in no event more than any applicable limit set by the Regulations. The Member shall ensure that, on any day on which any payment is due to the Bank with respect to Advances or
other Indebtedness, the Member’s demand deposit account(s) with the Bank has an available balance in an amount at least equal to the amounts then due and payable to the Bank, and the Member hereby authorizes the Bank to debit the Member’s
demand deposit account(s) with the Bank for all amounts due and payable with respect to any Advance and for all other amounts due and payable hereunder. In the event that the available balance in the Member’s demand deposit account(s) is
insufficient to pay such due and payable amounts, the Bank may, without notice to or request from the Member, apply any other deposits, credits, or monies of the Member then in the possession of the Bank to the payment of amounts due and payable.
All payments with respect to Advances shall be applied first to any fees or charges applicable thereto and to interest due thereon, in such order as the Bank may determine, and then to any principal amount thereof that is then due and payable.

 
Section 2.03 Right of Bank to Make Advances with Respect
to Outstanding Commitments. In the event that there are one or more outstanding Commitments at the time of an Event of Default under Section 4.01 hereof, the Bank may at its option, and without notice to or request from the Member, make an
Advance by crediting a special account of the Member with the Bank in an amount equal to the outstanding Commitments. Amounts credited to such special account shall be utilized by the Bank for the purpose of satisfying the Bank’s obligations
under such Commitments. When all such obligations have expired or have been satisfied, the Bank shall disburse the balance, if any, in such special account first to the satisfaction of any amounts then due and owing by the Member to the Bank and
then to the Member or its successors in interest. Advances made pursuant to this Section 2.03 shall be payable on demand and shall bear interest from the date the same shall be made until paid at the rate in effect and being charged by the Bank from
time to time on overdrafts on demand deposit accounts of its members, but in no event more than any applicable limit set by the Regulations. 
 
Section 2.04 Amortization of Advances. In the event that the Bank determines that the creditworthiness of the Member, as determined from
time to time by the Bank, does not meet the requirements of the Bank, the Bank may, without limitation of the Bank’s rights upon the occurrence of an Event of Default hereunder, require amortization by means of monthly payments of principal on
all or part of the Member’s Advances. The Member agrees to begin making such monthly amortization payments, upon thirty (30) days written notice from the Bank, in such monthly amounts as the Bank shall specify in writing. No monthly payment
shall exceed ten percent (10%) of the original principal balance of the Advance being amortized. Unless otherwise specified by the Bank in writing to the Member, such monthly amortizing payments shall not extend or modify the maturity date or other
scheduled payment dates applicable to the Advance being amortized. 
 
ARTICLE III: SECURITY AGREEMENT 
 
Section 3.01 Creation of Security Interest. As security for all Indebtedness, the Member hereby assigns, transfers, and pledges to the Bank, and grants to the Bank a security interest in all of the Capital Stock and
First Mortgage Collateral now or hereafter owned by the Member, and all proceeds thereof, provided, however, that First Mortgage Collateral that is encumbered or disposed of by the Member in conformity with the requirements of Section 3.04 (A)
hereof shall not be subject to the security interest created hereunder. Without limitation of the foregoing, all property heretofore assigned, transferred or pledged by the Member to the Bank as collateral securing Indebtedness and other obligations
of the Member prior to the date hereof is hereby assigned, transferred and pledged to the Bank as Collateral hereunder. 
 
Section 3.02 Additional Collateral and Documentation; Required Substitution of “Advances, Specific Collateral Pledge And Security
Agreement”. The Member agrees to assign, transfer and pledge Collateral in conformity with the Bank’s “Advances, Specific Collateral Pledge and Security Agreement” (i) at any time the Member shall not have assigned,
transferred, or pledged to the Bank under this Agreement First Mortgage Collateral which is Qualifying Collateral and which has a Lendable Collateral Value at least equal to the Collateral Maintenance Level or (ii) at any time 
 

3 

the Member does not qualify under the Bank’s criteria for member eligibility to secure Advances under
this Agreement or (iii) if the Bank determines in good faith that the value of the Member’s Qualifying Collateral may not be adequately ascertained, or (iv) at any time the Bank deems itself insecure. In addition, the Member agrees to maintain
such additional amounts of Collateral (which may be Collateral that is not Qualifying Collateral) as may be required by the Bank in order to protect its security position with respect to outstanding Indebtedness. If the Bank requires the Member to
substitute for this Agreement the Bank’s “Advances, Specific Collateral Pledge and Security Agreement,” the Member must execute that agreement and comply with the requirements of that agreement in all respects. To assure that the
Member provides to the Bank Qualifying Collateral with a Lendable Collateral Value at least equal to the Collateral Maintenance Level at all times, the Bank may require, in connection with the substitution of agreements, that the Member make,
execute, record, and deliver to the Bank additional agreements, financing statements, notices, assignments, listings, powers, and other documents with respect to such Collateral and the Bank’s security interest therein. 
 
Section 3.03 Member’s Representation and Warranties Concerning
Collateral. The Member represents and warrants to the Bank, as of the date hereof and the date of each Advance hereunder, as follows: 
 
(A) The Member owns and has marketable title to the Collateral and has the right and authority to grant a security interest in the
Collateral and to subject all of the Collateral to this Agreement; 
 
(B) The information given from time to time by the Member as to each item of Collateral is true, accurate and complete in all material respects; 
 
(C) All the Collateral meets the standards and requirements with respect thereto from time to time
established by the Act, the Regulations and the Bank; 
 
(D) The lien of each mortgage pledged as Collateral hereunder is a first, prior, and perfected lien under applicable law; 
 
(E) The Member has not conveyed or otherwise created, and there does not otherwise exist, any participation interest or other direct,
indirect, legal, or beneficial interest in any Collateral on the part of anyone other than the Bank and the Member; 
 
(F) Except as may be approved in writing by the Bank, no account debtor or other obligor owing any obligation to the Member with respect
to any item of First Mortgage Collateral has or will have any defenses, offsetting claims, or other rights affecting the right of the Member or the Bank to enforce such mortgage, mortgage note or promissory obligation, and no defaults (or conditions
that, with the passage of time or the giving of notice or both, would constitute a default) exist under any such writings; and 
 
(G) No part of any real property or interest in real property that is the subject of First Mortgage Collateral which is Qualifying
Collateral contains or is subject to the effects of toxic or hazardous materials or other hazardous substances (including those defined in the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, 42 U.S.C.
§9601, et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. §1801 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq.; and in the regulations adopted and publications promulgated pursuant to said
laws) the presence of which could subject the Bank to any liability under applicable state or Federal law or local ordinance either at any time that such property is pledged to the Bank or upon the enforcement by the Bank of its security interest
therein. The Member hereby agrees to indemnify and hold the Bank harmless against all costs, claims, expenses, damages, and liabilities resulting in any way from the presence or effects of any such toxic or hazardous substances or materials in, on,
or under any real property or interest in real property that is subject to or included in the Collateral. 
 
Section 3.04 Collateral Maintenance Requirement 
 
(A) The Member shall at all times maintain as Collateral an amount of Qualifying Collateral which has a Lendable Collateral Value that is
at least equal to the then current required Collateral Maintenance Level. The Member shall not assign, pledge, transfer, create any security interest in, sell, or otherwise dispose of any Collateral if: (i) such Collateral has been specified or
identified pursuant to Section 3.05 hereof or is held by or on behalf of the Bank pursuant to Section 3.06 hereof, or the Bank has otherwise perfected its security interest in such Collateral; or (ii) 
 

4 

at the time of or immediately after such action, the Member’ is not or would not be
in compliance with the collateral maintenance requirements of the first sentence of this Section 3.04 (A) or is otherwise in default under this Agreement. 
 
(B) Except for Collateral delivered pursuant to Section 3.06 hereof, Collateral shall be held by the Member in trust for the benefit of,
and subject to the direction and control of, the Bank and will be physically safeguarded by the Member with at least the same degree of care as the Member uses in physically safeguarding its other property. Without limitation of the foregoing, the
Member shall take all action necessary or desirable to protect and preserve the Collateral and the Bank’s interest therein, including without limitation the maintaining of insurance on property securing First Mortgage Collateral (such policies
and certificates of insurance or guaranty relating to such mortgages are herein called “insurance”), the collection of payments under all mortgages and under all insurance, and otherwise assuring that all mortgages are serviced in
accordance with the standards of a reasonable and prudent mortgagee. 
 
(C) If any Collateral that was Qualifying Collateral ceases to be Qualifying Collateral and, after such event, the Member is not or would not be in compliance with the collateral maintenance requirements of the first
sentence of this Section 3.04(A), the Member shall promptly notify the Bank in writing of that fact and, if so requested by the Bank, of the reason that the Collateral has ceased to be Qualifying Collateral. If such Collateral was specified or
identified pursuant to Section 3.05 hereof, or delivered to the Bank pursuant to Section 3.06 hereof, the Member shall promptly specify, identify, or deliver, as the case may be, other Qualifying Collateral having at least the same Lendable
Collateral Value as the Collateral so requested to be withdrawn. 
 
(D) The Bank may review the form and sufficiency of all documents pertaining to the Collateral. Such documents must be satisfactory to the Bank and, if not, such Collateral may not be acceptable as Qualifying Collateral or
may have a Lendable Collateral Value applied thereto that is less than the Lendable Collateral Value otherwise applicable under the Bank’s Credit Policy, as the Bank may specify. The Bank may require that the Member make any or all documents
pertaining to the Collateral available to the Bank for its inspection and approval. 
 
Section 3.05 Specification and Identification of Collateral. 
 
(A) Upon the Bank’s written or oral request, or at such times as shall be necessary to satisfy the requirements of the Bank, or
promptly, at any time that the Member becomes subject to any mandatory collateral specification requirements that may be established in writing by the Bank and in any case from time to time thereafter until such time as may be agreed upon by the
Bank in writing, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the First Mortgage Collateral that is certified by the Member to be Qualifying
Collateral. 
 
(B) The Member shall hold each set
of First Mortgage Documents which is a part of such specified Collateral in a separate file folder with each file folder clearly labeled with the loan identification number and the name of the borrower(s). Each such file folder shall be clearly
marked or stamped with the statement: “The Deed of Trust/Mortgage and Note Relating to This Loan Have Been Assigned to the Federal Home Loan Bank of Atlanta,” or such other statement that may be approved by the Bank from time to time. If
so requested by the Bank, in writing, the Member shall physically segregate any First Mortgage Collateral specified in each status report delivered pursuant to subsection (A) of this Section 3.05 from all other property of the Member in a manner
satisfactory to the Bank. 
 
Section 3.06 Delivery of
Collateral. 
 
(A) Upon the Bank’s
written or oral request, or promptly at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Bank, and until such time as may be agreed upon by the Bank in writing, the
Member shall deliver to the Bank, or to a custodian designated by the Bank, such First Mortgage Collateral as may be necessary so that the Lendable Collateral Value of Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the
Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. Unless otherwise indicated by the Bank, such
endorsements or assignments may be in blanket form provided that there shall be separate endorsements and assignments for 
 

5 

each county or recording district in which the real property covered by an item of First
Mortgage Collateral is located. The Member need only deliver the First Mortgage Documents relating to the First Mortgage Collateral delivered hereunder together with recordable assignments of the mortgages, unless otherwise directed by the Bank.
Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its
custodian and certifying that such Collateral is Qualifying Collateral. 
 
(B) The Member agrees to pay to the Bank such reasonable fees and charges as may be assessed by the Bank to cover the Bank’s overhead and other costs relating to the receipt, holding, redelivery and reassignment of
Collateral and to reimburse the Bank upon request for all recording fees and other reasonable expenses, disbursements and advances incurred or made by the Bank in connection therewith (including the reasonable compensation and the expenses and
disbursements of any custodian, consultant or appraiser that may be appointed by the Bank hereunder, and the agents and legal counsel of the Bank and of such custodian). 
 
(C) The Member shall, upon request of the Bank, immediately take such other actions as the Bank shall deem
necessary or appropriate to perfect the Bank’s security interest in the Collateral or otherwise to obtain, preserve, protect, enforce or collect the Collateral or the proceeds thereof. 
 
Section 3.07 Withdrawal of Collateral. Upon receipt by the Bank
of writings in the form specified by the Bank constituting (i) a request from the Member for the withdrawal of Collateral which has been specified or identified pursuant to Section 3.05 hereof or has been delivered pursuant to Section 3.06 hereof,
or as to which the Bank has otherwise perfected its security interest, (ii) a detailed listing of the Collateral to be withdrawn, and (iii) a certificate of a responsible officer of the Member certifying as to the Qualifying Collateral that is
specified and identified by the Member or held by the Bank, as appropriate, after such withdrawal, and upon the Bank’s determination that the Lendable Collateral Value of the remaining Qualifying Collateral is not less than the current required
Collateral Maintenance Level, the Bank shall promptly redeliver, release or reassign to the Member the Collateral specified in the Member’s listing of the Collateral to be withdrawn, provided that the Collateral requested to be withdrawn is not
required by the Bank to be maintained as additional Collateral. Notwithstanding anything to the contrary herein contained, while an Event of Default hereunder shall have occurred and be continuing, or at any time that the Bank reasonably and in good
faith deems itself insecure, the Member may not obtain any such withdrawal. 
 
Section 3.08 Reports; Collateral Audits: Access. 
 
(A) The Member shall furnish to the Bank annually, and at such other times as the Bank may request, an audit report with respect to the Member’s Collateral and Qualifying Collateral, prepared by
the Member’s internal or external auditor and in form and substance acceptable to the Bank, and such financial reports and other information relating to the Member’s financial condition as the Bank may reasonably request. 
 
(B) The Member shall furnish to the Bank at such times as the
Bank may request, or as necessary to satisfy the requirements of the Bank, a status report with respect to the Member’s Collateral prepared by the Member in form and substance acceptable to the Bank, and as of a date within two weeks of the
report due date. The status report shall be a written report covering such matters regarding the Collateral as the Bank may require, including listings of mortgages and unpaid principal balances thereof and certifications concerning the status of
payments on mortgages and of taxes and insurance on property securing mortgages. 
 
(C) If so requested by the Bank, the Member shall promptly report to the Bank any event which reduces the principal balance of any mortgage or other item of Collateral by five percent (5%) or more,
whether by prepayment, foreclosure sale, insurance or guaranty payment or otherwise. 
 
(D) The Member shall give the Bank access at all reasonable times to Collateral in the Member’s possession and to the Member’s books and records of account relating to such Collateral, for
the purpose of the Bank’s examining, verifying or reconciling the Collateral and the Member’s reports to the Bank thereon. 
 

6 

 
(E) If the
Member becomes aware or has reason to believe that the Lendable Collateral Value of the Member’s Qualifying Collateral has fallen below the Collateral Maintenance Level, or that a contingency exists which with the lapse of time could result in
the Member failing to meet the Collateral Maintenance Level, the Member shall immediately notify the Bank. 
 
(F) All Collateral and any matters relating thereto shall be subject to audit and verification by or on behalf of the Bank. Such audits
and verifications may occur without notice during the Member’s normal business hours or upon reasonable notice at such other times as the Bank may reasonably request. The Member shall provide access to, and shall make adequate working
facilities available to, the representatives or agents of the Bank for purposes of such audits. Reasonable fees and charges may be assessed to the Member by the Bank to cover overhead and other costs relating to such audit and verification.

 
(G) Notwithstanding anything to the contrary,
the Member shall be solely responsible for the accuracy and adequacy of all information and data in each audit or status report (or other writing specifying and describing any Collateral) submitted to the Bank, regardless of the form in which
submitted. The Bank shall have no duty to make any independent examination of or calculation with respect to the information submitted in an audit or status report (or in any written schedule that may be submitted by the Member) and, without
limiting the generality of the foregoing, the Bank makes no representation or warranty as to the validity, accuracy, or completeness of any information contained in any written records of the Bank concerning, or of any response to, such audit or
status report. 
 
Section 3.09 Additional
Documentation. The Member shall make, execute, record and deliver to the Bank such financing statements, notices, assignments, listings, powers, and other documents with respect to the Collateral and the Bank’s security interest therein
and in such form as the Bank may reasonably require. 
 
Section
3.10 Bank’s Responsibilities as to Collateral. The Bank’s duty as to the Collateral shall be solely to use reasonable care in the custody and preservation of the Collateral in its possession, which shall not include any steps
necessary to preserve rights against prior parties nor the duty to send notices, perform services, or take any action in connection with the management of the Collateral. The Bank shall not have any responsibility or liability for the form,
sufficiency, correctness, genuineness or legal effect of any instrument or document constituting a part of the Collateral, or any signature thereon or the description or misdescription, or value of property represented, or purported to be
represented, by any such document or instrument. The Member agrees that any and all Collateral may be removed by the Bank from the state or location where situated, and may be subsequently dealt with by the Bank as provided in this Agreement.

 
Section 3.11 Bank’s Rights as to Collateral; Power of
Attorney. At any time or times, at the expense of the Member, the Bank may in its discretion, before or after the occurrence of an Event of Default as defined in Section 4.01 hereof, in its own name or in the name of its nominee or of the
Member, do any or all things and take any and all actions that are pertinent to the protection of the Bank’s interest hereunder and are lawful under the laws of the State of Georgia, including, but not limited to, the following: 
 
(A) Terminate any consent given hereunder;

 
(B) Notify obligors on any
Collateral to make payments thereon directly to the Bank; 
 
(C) Endorse any Collateral in the Member’s name; 
 
(D) Enter into any extension, compromise, settlement, or other agreement relating to or affecting any Collateral; 
 
(E) Take any action the Member is required to take or which
is otherwise reasonably necessary to (1) sign and record a financing statement or otherwise perfect a security interest in any or all of the Collateral or (2) to obtain, preserve, protect, enforce or collect the Collateral; 
 
(F) Take control of any funds or other proceeds generated by
the Collateral and use the same to reduce Indebtedness as it becomes due; and 
 
 

7 

 
(G) Cause the
Collateral to be transferred to its name or the name of its nominee. 
 
The Member hereby appoints the Bank as its true and lawful attorney, for and on behalf of the Member and in its name, place and stead, to prepare, execute and record endorsements and assignments to the Bank of all or any item of
Collateral, giving or granting to the Bank, as such attorney, full power and authority to do or perform every lawful act necessary or proper in connection therewith as fully as the Member might or could do. The Member hereby ratifies and confirms
all that the Bank shall lawfully do or cause to be done by virtue of this special power of attorney. This special power of attorney is granted for a period commencing on the date hereof and continuing until the discharge of all Indebtedness and all
obligations of the Member hereunder regardless of any default by the Member, is coupled with an interest, and is irrevocable for the period granted. 
 
Section 3.12 Subordination of Other Loans to First Mortgage Collateral. The Member hereby agrees that all mortgage notes which are part of
the First Mortgage Collateral (“pledged notes”) shall have priority in right and remedy over any other loans, whenever made, and, however evidenced, which are also secured by the mortgages or security agreements securing the pledged notes.
The pledged notes shall be satisfied out of the property (or proceeds thereof) covered by such mortgages or security agreements before any payment is made on the loans which are not part of the Collateral. To this end, the Member hereby subordinates
the lien of such mortgages and security agreements with respect to such other loans to the lien of such mortgages and security agreements with respect to the pledged notes. The Member further agrees to retain possession of all notes or other
instruments evidencing such other loans and not to pledge, assign, or transfer the same, except insofar as such other loans may be pledged to the Bank as part of the Collateral. 
 
Section 3.13 Proceeds of Collateral. The Member, as the Bank’s agent, shall collect all payments when due
on all Collateral. If the Bank so requires, the Member shall hold such collections separate from its other monies in one or more designated cash collateral accounts maintained at the Bank and apply them to the reduction of Indebtedness as it becomes
due; otherwise, the Bank consents to the Member’s use and disposition of all such collections. 
 
ARTICLE IV: DEFAULT; REMEDIES 
 
Section 4.01 Events of Default: Acceleration. Upon the occurrence of any of the following events or conditions of default (“Event of Default”), the Bank may at its option, by a
notice to the Member, declare all or any part(s) of the Indebtedness and accrued interest thereon, including any prepayment fees or charges which are applicable to any Advance, to be immediately due and payable without presentment, demand, protest,
or any further notice: 
 
(A) Failure of the
Member to pay when due any interest on or principal of any Advance; or 
 
(B) Failure of the Member to perform any promise or obligation or to satisfy any condition or liability contained herein, in any Application, in any Confirmation of Advance or in any other agreement to which the Member and
the Bank are parties; or 
 
(C) Evidence coming to
the attention of the Bank that any representations, statements, or warranties made or furnished in any manner to the Bank by or on behalf of the Member in connection with any Advance or Swap Transaction, any specification or description of
Qualifying Collateral or any report or certification concerning the status, value, or principal balance of any item of Collateral was false in any material respect when made or furnished; or 
 
(D) Failure of the Member to maintain adequate Qualifying
Collateral free of any encumbrances or claims as required herein; or 
 
(E) The issuance of any tax, levy, seizure, attachment, garnishment, levy of execution, or other process with respect to the Collateral; or 
 
(F) Any suspension of payment by the Member to any creditor of sums due or the occurrence of any event which
results in another creditor having the right to accelerate the maturity of any indebtedness of the Member under any security agreement, indenture, loan agreement, or comparable undertaking; or 
 
 

8 

 
(G)
Appointment of a conservator, receiver, or similar official for the Member or any subsidiary of the Member, of the Member’s property, entry of a judgment or decree adjudicating the Member or any subsidiary of the Member insolvent or bankrupt or
an assignment by the Member or any subsidiary of the Member for benefit of creditors; or 
 
(H) Sale by the Member of all or a material part of the Member’s assets or the taking of any other action by the Member to liquidate or dissolve; or 
 
(I) Termination for any reason of the Member’s
membership in the Bank, or the Member’s ceasing to be a type of entity that is eligible under the Act to become a member of the Bank: or 
 
(J) Merger, consolidation or other combination of the Member with an entity which is not a member of the Bank if the nonmember entity is
the surviving entity; or 
 
(K) With respect to
Advances made pursuant to Section 11(g)(4) of the Act, if the creditor liabilities of the Member, excepting liabilities to the Bank, are increased in any manner to an amount exceeding five percent (5%) of the Member’s net assets; or

 
(L) The Bank reasonably and in good faith
determines that a material adverse change has occurred in the financial condition of the Member from that disclosed at the time of the making of any Advance or from the condition of the Member as theretofore most recently disclosed to the Bank.

 
Section 4.02 Remedies. Upon the occurrence of any
Event of Default, the Bank shall have all of the rights and remedies provided by applicable law which shall include, but not be limited to, all of the remedies of a secured party under the Uniform Commercial Code as in effect in the State of
Georgia. In addition, the Bank may take immediate possession of any of the Collateral or any part thereof wherever the same may be found. The Bank may sell, assign and deliver the Collateral or any part thereof at public or private sale for such
price as the Bank deems appropriate without any liability for any loss due to decrease in the market value of the Collateral during the period held. The Bank shall have the right to purchase all or part of the Collateral at such sale. If the
Collateral includes insurance or securities which will be redeemed by the issuer upon surrender, or any accounts or deposits in the possession of the Bank, the Bank may realize upon such Collateral without notice to the Member. If any notification
of intended disposition of any of the Collateral is required by applicable law, such notification shall be deemed reasonable and properly given if given as provided by applicable law or in accordance with Section 5.06 hereof at least 5 days before
any such disposition. The proceeds of any sale shall be applied in the order that the Bank, in its sole discretion, may choose. The Member agrees to pay all the costs and expenses of the Bank in the collection of the Indebtedness and enforcement of
the Bank’s rights and remedies in case of default, including, without limitation, reasonable attorneys’ fees. The Bank shall, to the extent required by law, apply any surplus, after (i) payment of the Indebtedness, (ii) provision for
repayment to the Bank of any amounts to be paid or advanced under Outstanding Commitments, and (iii) payment of all costs of collection and enforcement, to the claims of person(s) legally entitled thereto, with any remaining surplus paid to the
Member. The Member shall be liable to the Bank for any deficiency remaining. 
 
Section 4.03 Payment of Prepayment Charges. Any prepayment fees or charges applicable to an Advance shall be payable at the time of any voluntary or involuntary payment of all or part of the principal of such Advance
prior to the originally scheduled maturity thereof, including without limitation payments that are made as a part of a liquidation of the Member or that become due by operation of law or as a result of an acceleration pursuant to Section 4.01
hereof, whether such payment is made by the Member, by a conservator, receiver, liquidator or trustee of or for the Member, or by any successor to or any assignee of the Member. 
 
 

9 

 
ARTICLE V:
MISCELLANEOUS 
 
Section 5.01 General Representations and
Warranties by the Member. The Member hereby represents and warrants that, as of the date hereof and the date of each Advance hereunder 
 
(A) The Member is not, and neither the execution of nor the performance of any of the transactions or obligations of the Member under this
Agreement shall, with the passage of time, the giving of notice or otherwise, cause the Member to be: (i) in violation of its charter or articles of incorporation, by-laws, the Act or the Regulations, any other law or administrative regulation, or
any court decree; or (ii) in default under or in breach of any material indenture, contract or other instrument or agreement to which the Member is a party or by which it or any of its property is bound. 
 
(B) The Member has full corporate power and authority and has
received all corporate and governmental authorizations and approvals (including without limitation those required under the Act and the Regulations) as may be required to enter into and perform its obligations under this Agreement, to borrow each
Advance and to obtain each commitment for Advance. 
 
(C) The information given by the Member in any document provided, or in any oral statement made, in connection with an application or request for an Advance or commitment for Advance, is true, accurate and complete in all material
respects. 
 
Section 5.02 Assignment. The Bank may
assign or negotiate to any other Federal Home Loan Bank or to any other person or entity, with or without recourse, any Indebtedness of the Member or participations therein, and the Bank may assign or transfer all or any part of the Bank’s
right, title, and interest in and to this Agreement and may assign and deliver the whole or any part of the Collateral to the transferee, which shall succeed to all the powers and rights of the Bank in respect thereof, and the Bank shall thereafter
be forever relieved and fully discharged from any liability or responsibility with respect to the transferred Collateral. The Member may not assign or transfer any of its rights or obligations hereunder without the express prior written consent of
the Bank. 
 
Section 5.03 Discretion of the Bank to Grant or
Deny Advances. Nothing contained herein or in any documents describing or setting forth the Bank’s credit program and credit policies shall be construed as an agreement or commitment on the part of the Bank to grant Advances or extend
commitments for Advances hereunder, the right and power of the Bank in its discretion to either grant or deny any Advance or commitment for an Advance requested hereunder being expressly reserved. The determination by the Bank of Lendable Collateral
Value shall not constitute a determination by the Bank that the Member may obtain Advances or commitments for Advances in amounts up to such Lendable Collateral Value. 
 
Section 5.04 Amendment: Waivers. No modification, amendment or waiver of any provision of this Agreement or
consent to any departure therefrom shall be effective unless in a writing executed by a responsible officer of the party against whom such change is asserted and shall be effective only in the specific instance and for the purpose of which given. No
notice to or demand on the Member in any case shall entitle the Member to any other or further notice or demand in the same, or similar or other circumstances. Any forbearance, failure or delay by the Bank in exercising any right, power or remedy
hereunder shall not be deemed to be a waiver thereof, and any single or partial exercise by the Bank of any right, power or remedy hereunder shall not preclude the further exercise thereof. Every right, power and remedy of the Bank shall continue in
full force and effect until specifically waived by the Bank in writing. 
 
Section 5.05 Jurisdiction: Legal Fees. In any action or proceeding brought by the Bank or the Member in order to enforce any right or remedy under this Agreement, the parties hereby consent to, and agree that they will
submit to, the jurisdiction of the United States District Court for the Northern District of Georgia or, if such action or proceeding may not be brought in Federal court, the jurisdiction of the courts of the State of Georgia located in the City of
Atlanta. The Member agrees that if any action or proceeding is brought by the Member seeking to obtain any legal or equitable relief against the Bank under or arising out of this Agreement or any transaction contemplated hereby and such relief is
not granted by 
 
 

10 

 
the final decision, after any
and all appeals, of a court of competent jurisdiction, the Member will pay all attorneys’ fees and other costs incurred by the Bank in connection therewith. 
 
Section 5.06 Notices. Except as provided in the last sentence of this Section, any written notice, advice,
request, consent or direction given, made or withdrawn pursuant to this Agreement shall be either in writing or transmitted electronically and reproduced mechanically by the addressee, and shall be given by first class mail, postage prepaid, by
telecopy or other facsimile transmission, or by private courier or delivery service. All non-oral notices shall be deemed given when actually received at the principal office of the Bank or the Member, as appropriate. All notices shall be designated
to the attention of an office or section of the Bank or of the Member if the Bank or the Member has made a request for the notice to be so addressed. Any notice by the Bank to the Member pursuant to Sections 3.05 or 3.06 hereof may be oral and shall
be deemed to have been duly given to and received by the Member at the time of the oral communication. 
 
Section 5.07 Signatures of Member. For purposes of this Agreement, documents shall be deemed signed by the Member when a signature of an authorized signatory or an authorized facsimile
thereof appears on the document. The Bank may rely on any signature or facsimile thereof which reasonably appears to the Bank to be the signature of an authorized person, including signatures appearing on documents transmitted electronically to and
reproduced mechanically at the Bank. The Secretary or an Assistant Secretary of the Member shall from time to time certify to the Bank on forms provided by the Bank the names and specimen signatures of the persons authorized to apply on behalf of
the Member to the Bank for Advances and commitments for Advances and otherwise act for and on behalf of the Member in accordance with this Agreement. Such certifications are incorporated herein and made a part of this Agreement and shall continue in
effect until expressly revoked in writing by the Member notwithstanding that subsequent certifications may authorize additional persons to act for and on behalf of the Member. 
 
Section 5.08 Applicable Law; Severability. In addition to the terms and conditions specifically set forth
herein and in any application or confirmation of Advance between the Bank and the Member, this Agreement and all Advances and all commitments for Advances shall be governed by the statutory and common law of the United States and, to the extent
Federal law incorporates or defers to state law, the laws (exclusive of the choice of law provisions) of the State of Georgia. Notwithstanding the foregoing, the Uniform Commercial Code as in effect in the State of Georgia shall be deemed applicable
to this Agreement and to any Advance hereunder and shall govern the attachment and perfection of any security interest granted hereunder. In the event that any portion of this Agreement conflicts with applicable law, such conflict shall not affect
other provisions of this Agreement which can be given effect without the conflicting provision, and to this end the provisions of this Agreement are declared to be severable. 
 
Section 5.09 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the
successors and permitted assigns of the Member and the Bank. 
 
Section 5.10 Entire Agreement. This Agreement embodies the entire agreement and understanding between the parties hereto relating to the subject matter hereof and supersedes ail prior agreements between such parties
which relate to such subject matter. Notwithstanding the above, rates of interest, repayment schedules, and fees and other charges applicable to Advances and commitments for Advances made by the Bank to the Member prior to the execution of this
Agreement shall continue to be governed exclusively by the terms of the prior agreements pursuant to which such Advances and commitments for Advances were made, provided, however, that Section 4.03 hereof shall apply to all Advances. 
 
 

11 

 
IN WITNESS WHEREOF, Member and
Bank have caused this Agreement to be signed in their names by their duly authorized officers as of the date first above mentioned. 
 

	  BankUnited, FSB

	

	  (Full Corporate Name of Member)

	
	  By:
	  	  /s/    Roberto Diaz

	  	  Roberto Diaz, Senior Vice President

	  	  	  (Authorized Signature)
	  	  (Typed Name and Title of Signer)

	
	  By:
	  	  /s/    Gary Laurash

	  	  Gary Laurash, Senior Vice President

	  	  	  (Authorized Signature)
	  	  (Typed Name and Title of Signer)

 

	
	  	  	  	  	  (MEMBER’S CORPORATE SEAL)

	
	  FEDERAL HOME LOAN BANK OF ATLANTA
	  	  	  	  
	
	  By:
	  	
	  	  	  	  By:
	  	

	  	  	  (Authorized Siganture)
	  	  	  	  	  	  (Title)

	  	  	  	  	  	  	  	  	  
	
	  By:
	  	
	  	  	  	  By:
	  	

	  	  	  (Authorized Siganture)
	  	  	  	  	  	  (Title)

	  	  	  	  	  	  	  	  	  

 
 

12 

 
FEDERAL HOME
LOAN BANK OF ATLANTA 
 
MEMBER ACKNOWLEDGEMENT

AND NOTARIZATION 
 

	  STATE OF
	   	      Florida                          
	   	   } ss
	   	  
	  County of
	   	      Miami-
Dade                
	   	   

 
On this
18th day of December, 2002, before me personally came Robert Diaz and Gary Laurash, to me known, who, being by me duly sworn, did depose and state that they are the Senior Vice President and Senior Vice
President of said Member; the Member described in and which executed the above instrument; that they know the seal of said Member; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of
Directors or other governing body of said Member; and that they signed their names thereto by order of the Board of Directors or other governing body of said Member and that said Roberto Diaz and Gary Laurash acknowledged the execution
of said instrument to be the voluntary act and deed of said Member. 
 

	  /s/    Elizabeth Bond

	  	  	  	  
	  Notary Public Signature
	  	  	  	  	  	  
	
	  Elizabeth Bond
	  	  	  	  	  	  

 

	  	   	  	  
	  Notary Public in and
  for the State of:
                Florida                       
             
                            
	   	  (NOTARY PUBLIC’S SEAL
	  )

	
	  My commission expires:
                [SEAL]                      
  
	   	  	  

 
 
 

13 

 

	  	  	  
	  [LOGO]     FEDERAL HOME LOAN
 
                    BANK OF ATLANTA
	  	  ADDENDUM TO THE “AGREEMENT FOR ADVANCES AND
  SECURITY AGREEMENT WITH BLANKET FLOATING LIEN”

 
MEMBER and BANK, as those terms are defined in the Agreement for Advances and Security Agreement with Blanket Floating Lien (“Agreement”) dated as of October 1, 2002, between the
Member and the Bank, desire to modify the Agreement to supplement the means by which the Member may provide security to the Bank. Accordingly, the Member and the Bank have executed this Addendum as of October 1, 2002, and agree that it shall
be a part of and modify the Agreement, as Addendum No. 1 thereto, as follows: 
 

	  	 A.	  	 Section 1.01 is amended to add the following terms as paragraphs (N) through (Q). 

 

	  	 (N)	  	 “Government and Agency Securities collateral” means mortgage-backed securities (including participation certificates) issued by the Federal Home Loan
Mortgage corporation or the Federal National Mortgage Association, obligations guaranteed by the Government National Mortgage Association, and obligations issued or guaranteed by the United States or an agency thereof. 

 

	  	 (O)	  	 “Other Mortgage Collateral” means Other Mortgage Documents (including participation or other fractional interests therein but not securitized loans) and
all ancillary security agreements, policies and certificates of insurance of guarantees, evidences of recordation, applications, underwriting materials, surveys, appraisals, approvals, permits, notices, opinions of counsel and loan servicing data
and all other electronically stored and written records or materials relating to the loans evidenced or secured by the Other Mortgage Documents. 

 

	  	 (P)	  	 “Other Mortgage Documents” means mortgages secured by a junior lien on one-to-four unit single-family dwellings or by a first lien on property improved by
one or more multifamily or commercial buildings and all mortgage notes evidencing fully disbursed loans secured by such mortgages and any endorsements or assignments thereof to the Member. 

 

	  	 (Q)	  	 “Other Securities Collateral” means securities (other than Government and Agency Securities Collateral) representing unsubordinated interests in, or
collateralized by first lien security interests in, both the interest and principal payments on first lien residential mortgages. 

 
Section 1.01 (D) is amended by inserting the following as its text: 
 

	  	 (D)	  	 “Collateral” means all property, including the proceeds thereof, heretofore assigned, transferred or pledged to the Bank by the Member as collateral for
Advances or other extensions of credit prior to the date hereof, all Capital Stock, and First Mortgage Collateral, Government and Agency Securities Collateral, Other Mortgage Collateral, and Other Securities Collateral, including the proceeds
thereof, which is now or hereafter pledged to the Bank pursuant to Section 3.01 hereof. 

 
Section 1.01 (L) is amended to substitute the following as its text: 
 

	  	 (L)	  	 “Qualifying Collateral” means collateral other than Capital Sock which: (i) is eligible as collateral that can be used to support the origination of
Advances under the terms and conditions of the Act and the Regulations, and satisfies such other requirements as may be established by the Bank; (ii) is owned by the Member free and clear of any liens, encumbrances or other interests other than the
assignment to the Bank hereunder; (iii) has not been in default within the most recent 12-month period, excepting only in the case of First Mortgage Collateral and Other Mortgage Collateral payments which are not past due except as permitted by the
Bank’s Credit Policy; (iv) in the case of First Mortgage Collateral and Other mortgage Collateral, relates to improved real property that is covered by fire and hazard insurance in an amount at least sufficient to discharge the mortgage loan in
full in case of loss and as to which all real estate taxes and any other charges which are or may become a lien superior to the lien of the mortgage are current; (v) has not been classified as substandard, doubtful, or loss by the Member’s
regulatory authority or its management; (vi) in the case of First Mortgage Collateral and Other Mortgage Collateral does not secure and indebtedness on which any director, officer, employee, attorney or agent of the Member or any Federal Home Loan
Bank is personally liable unless the acceptance of such Collateral by the Bank has been specifically approved by formal resolution of the 

 

1 

 
Board; and
(vii) in the case of Government and Agency Securities Collateral, Other Mortgage Collateral, and Other Securities Collateral has been offered by the Member to the Bank and specifically accepted by the Bank as Qualifying Collateral. 
 

	 B.	  	 Section 3.01 is amended to add the following text at the end of the Section: 

 
In addition, as security for all Indebtedness, the Member hereby assigns, transfers, and pledges to the Bank,
and grants to the Bank a security interest in: all of the Government and Agency Securities Collateral, Other Mortgage Collateral, and Other Securities Collateral now or hereafter owned by the Member, and all proceeds thereof, which is specified
pursuant to Section 3.05 or delivered pursuant to Section 3.06. 
 

	 C.	  	 A new paragraph (A) is added to Section 3.02 as follows: 

 

	  	 (A)	  	 The Bank may require the Member to provide representations, warranties, and undertakings, in addition to those contained herein, with respect to the pledge
hereunder of Collateral which is not First Mortgage Collateral. 

 
The original text of Section 3.02 is designated as paragraph (B) and is amended in clause (i) of the first sentence so that clause (i) reads: 
 
. . .(i) at any time the Member shall not have assigned,
transferred, or pledged to the Bank under this Agreement Qualifying Collateral which has a Lendable Collateral Value at least equal to the Collateral Maintenance Level or (ii). . . 
 

	 D.	  	 Section 3.03 (D) is amended to read: 

 
The lien of the First Mortgage Collateral and the Other Mortgage Collateral on the real property securing the same is a first, prior and
perfected lien under applicable law, other than the lien of those residential mortgages included in Other Mortgage Collateral which are specifically offered to and accepted by the Bank as mortgages secured by junior liens. 
 
Sections 3.03 (F) and (G) are amended to insert the
words “or Other Mortgage Collateral” after the words “First Mortgage Collateral” in those paragraphs. 
 

	 E.	  	 Section 3.04 (A) is amended to insert the following first sentence of the paragraph: 

 
(A) The Member shall normally discharge this obligation by
maintaining First Mortgage Collateral. The Member may discharge this obligation with Qualifying Collateral that is not First Mortgage Collateral to the extent that such Collateral is first offered to and specifically accepted by the Bank. At any
time the Member does not own and maintain, in accordance with this Agreement First Mortgage Collateral that is Qualifying Collateral with a Lendable Collateral Value that is at least equal to the then required Collateral Maintenance Level (or the
Collateral maintenance Level to be required if any pending member advance application is approved), the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing
Government and Agencies Security Collateral and/or Other Mortgage Collateral and/or Other Securities Collateral in an amount which, together with the First Mortgage Collateral that is Qualifying Collateral, is sufficient to satisfy the requirements
of this Section. 
 
Section 3.04 (B) is
amended to insert the words “and Other Mortgage Collateral” after the words “First Mortgage Collateral” in that paragraph. 
 

	 F.	  	 Section 3.05 (A) is amended to delete the words “First Mortgage” ahead of the word “Collateral” in that paragraph.

 
Section 3.05 (B) is
amended to insert the words “and Other Mortgage Documents” and “Other Mortgage Collateral” after the words “First Mortgage Documents” and “First Mortgage Collateral”, respectively, in that paragraph.

 

	 G.	  	 The first sentence of Section 3.06 (A) of the Agreement is amended by substituting the words “Qualifying Collateral” for the words “First
Mortgage Collateral.” 

 
 

2 

 
Section
3.06 (A) is amended to insert the words “and Other Mortgage Collateral” after the words “First Mortgage Collateral” and by inserting the words “and Other Mortgage Documents” after the words “First Mortgage
Documents” in the sentences of that paragraph which follow the first sentence. 
 
Section 3.06 (C) is amended to read: 
 

	  	 (C)	  	 With respect to any uncertificated securities pledged to the Bank as Collateral hereunder, the delivery requirements contained in this Agreement shall be satisfied
by the transfer of a security interest in such securities to the Bank, such transfer to be effected in such manner and to be evidenced by such documents as shall be reasonably specified by the Bank. 

 
Original paragraph (C) of Section 3.06 is designated
paragraph (D). 
 

	 H.	  	 Section 3.12 is amended to insert the words “and Other Mortgage Collateral” after the words “First Mortgage Collateral.”

 

	 I.	  	 The first sentence of Section 5.10 of the Agreement is amended to read: 

 
This Agreement, together with any Addenda thereto executed by the Bank and the Member, embody the entire
agreement and understanding between the parties hereto relating to the subject matter hereof and supersedes all prior agreements between such parties which relate to such subject matter. 
 
IN WITNESS WHEREOF, Member and Bank have caused this Addendum to be signed in their name by their duly
authorized officers. 
 
BankUnited, FSB

(Full Corporate Name of Member) 
 

	  By:
	  	  /s/ Roberto Diaz

	  	  	  	  Roberto Diaz, Senior Vice President

	  	  	  (Authorized Signature)
	  	  	  	  (Typed Name and Title of Signer)

	  	  	  	  	  	  	  
	  By:
	  	  /s/ Gary Laurash

	  	  	  	  Gary Laurash, senior vice President

	  	  	  (Authorized Signature)
	  	  	  	  (Typed Name and Title of Signer)

 
(Member’s Corporate Seal) 
 
FEDERAL HOME LOAN BANK OF ATLANTA 
 

	
	  By:
	  	
	  	  	  	

	  	  	  (Authorized Signature)
	  	  	  	  (Title)

	  	  	  	  	  	  	  
	  By:
	  	
	  	  	  	

	  	  	  (Authorized Signature)
	  	  	  	  (Title)

 

3 

 
FEDERAL HOME
LOAN BANK OF ATLANTA 
 
MEMBER
ACKNOWLEDGEMENT 
AND NOTARIZATION 
 

	  STATE OF
	   	      Florida                                
                                
	   	   } ss:
	   	  
	  County of
	   	      Miami-
Dade                                        
              
	   	   

 
On this
18th day of December, 2002, before me personally came Robert Diaz and Gary Laurash, to me known, who, being by me duly sworn, did depose and state that they are the Senior Vice President and Senior Vice
President of said Member; the Member described in and which executed the above instrument; that they know the seal of said Member; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of
Directors or other governing body of said Member; and that they signed their names thereto by order of the Board of Directors or other governing body of said Member and that said Roberto Diaz and Gary Laurash acknowledged the execution
of said instrument to be the voluntary act and deed of said Member. 
 

	  /s/ Elizabeth Bond

	  	  	  	  (SEAL)

	  Notary Public Signature
	  	  	  	  	  	  
	  Elizabeth Bond
	  	  	  	  	  	  

 
Notary Public in and 
for the State of:
                Florida                       
                  
 
My commission expires:
                [SEAL]                      
   
 

4

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