Document:

Amendment to Master Repurchace Agreement

 Exhibit 10.10 
 AMENDMENT TO MASTER REPURCHASE AGREEMENT 
 Amendment to the Master Repurchase Agreement, dated as of
April 15, 2009 (the “Amendment”) by and between Citibank Global Markets Inc. (“CGMI”), and First State Bank (“Counterparty”). 
 Reference is made to the Master Repurchase Agreement, dated as of May 23, 2007 by and between CGMI and Counterparty as such agreement may have been amended or supplemented in writing prior to the date hereof (the
“Agreement”). 
 WHEREAS, the parties have entered into the Agreement (as defined herein); and 
 WHEREAS, for good and valuable consideration the receipt of which is hereby acknowledged by Counterparty, the parties wish to amend the Agreement as
hereinafter provided. 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 
 1. Defined terms. 
 Capitalized terms used in this Amendment
without definition shall have the meanings assigned to them in the Agreement. 
 2. Amendment. Annex I (Supplemental Terms and Conditions) to the Agreement
is hereby amended by deleting the date “February 10, 2006” in the first and second lines and replacing it with “May 23, 2007”. 
 3.
Amendment and Restatement of Annex II. 
 Effective the date of this Amendment, Annex II is hereby amended and restated in the form set out in
Schedule 1 hereto. 
 4. Extent of Modifications 
 Except as expressly modified herein, all terms, conditions, covenants and agreements contained in the Agreement are hereby confirmed and ratified and shall continue in full force and effect. 
 5. Governing Law 
 This Amendment will be governed by and
construed in accordance with the law of the State of New York without giving effect to the conflict of law principles thereof. 
 6. Power and Authority

 Each party represents to the other party on the date hereof that it is duly authorized to execute and deliver this Amendment and to perform
its obligations hereunder and 

 
thereunder and has taken all necessary action to authorize such execution, delivery and performance; the person signing this Amendment on its behalf is duly
authorized to do so on its behalf; it has obtained all authorizations of any governmental body required in connection with this Amendment and such authorizations are in full force and effect; it is duly organized and validly existing under the laws
of the jurisdiction of its organization or incorporation and, if relevant under such laws, in good standing; the execution, delivery and performance of this Amendment do not and will not violate or conflict with any law applicable to it, any
provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets; and its obligations
under this Amendment constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms. 
 7. Entire Agreement

 The Agreement, as modified by this Amendment, constitutes the entire agreement and understanding of the parties with respect to its subject
matter and supersedes all oral communication and prior writings with respect thereto. 
 8. Execution by Counterparts 
 This Amendment may be executed and delivered in counterparts (including by facsimile transmission), each of which will be deemed an original. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

  

			
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	FIRST STATE BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

 SCHEDULE I 
 ANNEX II 
 Names and Addresses for Communications Between Parties 
 CITIGROUP GLOBAL MARKETS INC. 
 Contract
Issues: 
 Citigroup Global Markets Inc. 
 Attention: Nicole Mari Junco 
 111 Wall Street,
17th Floor 
 New York, NY 10005

 Telephone: 212-657-1648 
 with a
copy to: 
 Sanjay Reddy 
 390 Greenwich Street, 5th Floor 
 New York, New York 10013 
 Telephone: 212-723-6293 
 Operations Issues: 
 Citigroup Global Markets Inc.

 Anthony Vazquez 
 540-580
Crosspoint Pwky 
 Getzville, NY 14068 
 Telephone: 716 730 6016 
 [INSERT CONTACT INFORMATION]Letter Agreement between First State Bank and Citibank Global Markets

 Exhibit 10.11 
 

 
 390 Greenwich Street – 4th floor 
 New York, New York 10013 
 212-816-6000 
 April 15, 2009 
 THE PURPOSE OF THIS LETTER AGREEMENT (THIS
“CONFIRMATION”) IS TO AMEND AND RESTATE THAT CONFIRM DATED MAY 24, 2007
THAT SETS FORTH THE TERMS AND CONDITIONS OF THE TRANSACTION BETWEEN
CITIGROUP GLOBAL MARKETS INC. (“CGMI”) AND FIRST STATE BANK (“COUNTERPARTY”) ON
THE TRADE DATE SET FORTH BELOW (THE “ORIGINAL CONFIRM”). CGMI AND
COUNTERPARTY AGREE THAT THE ORIGINAL CONFIRM SHALL BE AMENDED AND RESTATED
TO READ AS FOLLOWS: 
 COUNTERPARTY AND CGMI ARE
PARTIES TO THE MASTER REPURCHASE AGREEMENT DATED AS OF MAY 23, 2007 (AS
AMENDED, SUPPLEMENTED, OR OTHERWISE MODIFIED FROM TIME TO TIME, OR ANY
MASTER REPURCHASE AGREEMENT ENTERED INTO WHICH MAY BE DEEMED TO SUPERCEDE
THE AFORMENTIONED AGREEMENT, THE “AGREEMENT”), AND THIS CONFIRMATION SHALL SUPPLEMENT,
FORM A PART OF, AND BE SUBJECT TO, SUCH AGREEMENT UPON THE
EXECUTION AND DELIVERY THEREOF BY BOTH PARTIES, AND ALL PROVISIONS CONTAINED
OR INCORPORATED BY REFERENCE IN SUCH AGREEMENT SHALL GOVERN THIS TRANSACTION
EXCEPT AS EXPRESSLY MODIFIED HEREIN. IN THE EVENT OF ANY INCONSISTENCY
BETWEEN THIS CONFIRMATION AND THE AGREEMENT, THIS CONFIRMATION WILL GOVERN. TERMS
DEFINED IN THE AGREEMENT AND USED BUT NOT OTHERWISE DEFINED IN THIS
CONFIRMATION SHALL HAVE THE SAME MEANING AS IN THE AGREEMENT. 
  

			
	TRANSACTION:	  	REVERSE REPURCHASE
		
	SELLER:	  	COUNTERPARTY
		
	BUYER:	  	CGMI
		
	PURCHASED SECURITIES:	  	AGENCY PASSTHROUGHS AND AGENCY DEBENTURES
		
	PURCHASE DATE:	  	MAY 25, 2007
		
	REPURCHASE DATE:	  	MAY 25, 2017
		
	*PRICING RATE:	  	A) FROM, AND INCLUDING, THE PURCHASE DATE, UP TO, BUT
NOT INCLUDING, MAY 25, 2009, THE PRICING RATE SHALL BE 3 MONTH LIBOR
MINUS 100 BASIS POINTS PER ANNUM; PROVIDED THAT, SUCH PRICING RATE
SHALL NOT BE LESS THAN 0.00%; AND
		
		  	(B) FROM, AND INCLUDING, MAY 25, 2009, UP TO, AND INCLUDING,
THE REPURCHASE DATE, THE PRICING RATE SHALL BE 4.95%.
		
	INITIAL MARGIN PERCENTAGE:	  	10% HAIR-CUT
		
	PURCHASE PRICE:	  	USD $5,000,000.00
		
		  	PURCHASE PRICE TO REMAIN CONSTANT DURING TERM OF
TRANSACTION UNLESS OTHERWISE AGREED BY THE PARTIES.
		
	LOCK OUT DATE:	  	MAY 25, 2009
		
	SELLER PAYMENTS:	  	SELLER SHALL PAY THE BUYER INTEREST QUARTERLY, ON THE 15
TH OF EVERY AUGUST, NOVEMBER, FEBRUARY, AND
MAY (OR IF SUCH DATE IS NOT A NEW YORK AND LONDON
BUSINESS DAY, THEN THE FOLLOWING DAY THAT IS A NEW YORK AND
LONDON

			
		  	BUSINESS DAY UNLESS THAT DAY FALLS IN THE NEXT
CALENDAR MONTH, IN WHICH CASE THAT DATE WILL BE THE FIRST PRECEDING
DAY THAT IS A BUSINESS DAY), COMMENCING AUGUST 25, 2007, ON AN ACTUAL/360
BASIS.
		
	CALCULATION AGENT:	  	CGMI
		
	CALL OPTION:	  	CGMI SHALL HAVE THE RIGHT IN ITS OWN DISCRETION TO
TERMINATE THE TRANSACTION ON THE LOCK OUT DATE OR ANY QUARTERLY
PAYMENT DATE THEREAFTER WITH TWO NEW YORK BUSINESS DAYS PRIOR NOTICE
BY TELEPHONE OR FAX.
		
	MARGIN:	  	MARK TO MARKET DAILY.
		
		  	MARGIN REQUIREMENTS MAY BE SATISFIED BY DELIVERY OF CASH
OR ADDITIONAL PURCHASE SECURITIES, OR AS OTHERWISE AGREED BY THE
PARTIES.
		
		  	UPON THE PROVISION OF SEVEN (7) DAY’S NOTICE, BUYER
MAY REQUIRE ADDITIONAL MARGIN (AS DETERMINED BY BUYER, IN ITS ABSOLUTE
DISCRETION) FROM SELLER WITH RESPECT TO ANY UNDERLYING INTEREST RATE EXPOSURE
FOR THIS TRANSACTION. UPON RECEIPT OF SUCH NOTICE, SELLER SHALL TRANSFER
CASH OR ADDITIONAL PURCHASED SECURITIES (AS DEFINED IN THE AGREEMENT) NO
LATER THAN THE CLOSE OF BUSINESS IN THE RELEVANT MARKET ON THE
SEVENTH DAY FOLLOWING RECEIPT OF NOTICE (OR IF SUCH DAY IS NOT
A BUSINESS DAY, THEN THE FOLLOWING BUSINESS DAY).
		
	TERMINATION EVENT:	  	(A) IF SELLER FAILS TO PROVIDE ADDITIONAL MARGIN FOR ANY
INTEREST RATE EXPOSURE WITHIN THE SEVEN (7) DAYS OF BUYER’S NOTICE
(AS MORE SPECIFICALLY DESCRIBED ABOVE), THEN SUCH FAILURE SHALL BE AN
EVENT OF DEFAULT UNDER THE AGREEMENT, WITH SELLER BEING THE DEFAULTING
PARTY.
		
		  	(B) IT SHALL CONSTITUTE AN ADDITIONAL EVENT OF DEFAULT
UNDER THE AGREEMENT (AND BUYER SHALL HAVE THE RIGHTS OF THE
NON-DEFAULTING PARTY SET FORTH IN PARAGRAPH 11 OF THE AGREEMENT) IF
ANY OF THE FOLLOWING OCCUR WITH RESPECT TO SELLER:
		
		  	(1) SELLER CEASES TO BE “ADEQUATELY CAPITALIZED” AT ANY
TIME BEFORE SEPTEMBER 30, 2009; OR
		
		  	(2) SELLER FAILS TO REGAIN AND MAINTAIN “WELL CAPITALIZED”
STATUS ON AND AFTER SEPTEMBER 30, 2009; OR
		
		  	(3) SELLER IS ISSUED A “CEASE AND DESIST ORDER”
AT ANY TIME BY ITS FEDERAL OR STATE REGULATORS; OR

			
		  	(4) SELLER FAILS TO DELIVER (BY APRIL 16, 2009) ADDITIONAL CASH
MARGIN SUCH THAT THE TOTAL AMOUNT OF EXCESS CASH MARGIN IS EQUAL
TO $500,000 (SUCH AMOUNT SHALL BE IN ADDITION TO ANY MARGIN REQUIRED
TO BE DELIVERED UNDER THE “MARGIN” SECTION HEREUNDER OR OTHERWISE UNDER
THE AGREEMENT) (THE “EXCESS MARGIN”); OR
		
		  	(5) SELLER FAILS AT ANY TIME TO MAINTAIN EXCESS MARGIN
EQUAL TO $500,000.
		
		  	“ADEQUATELY CAPITALIZED” AND “WELL CAPITALIZED” SHALL HAVE
THE MEANINGS SET FORTH UNDER 12 U.S.C., AS DETERMINED BY SELLER’S APPROPRIATE
FEDERAL BANKING AGENCY, BUT IN NO EVENT LESS THAN THE AMOUNT REQUIRED
IN A CAPITAL DIRECTIVE OR OTHER CAPITAL REQUIREMENT BY SELLER’S
APPROPRIATE FEDERAL BANKING AGENCY.”
		
		  	SELLER COVENANTS THAT IT SHALL NOTIFY BUYER AS PROMPTLY
AS PRACTICABLE UPON THE OCCURRENCE OF THE EVENTS IN SUBCLAUSES (1) (2) AND
(3) OF THIS CLAUSE (B).

 * FOR PURPOSES OF THE AGREEMENT,
“LIBOR” AS REFERENCED IN THIS LETTER SHALL MEAN THE RATE OF
INTEREST FOR A PERIOD EQUAL TO THE RATE WHICH APPEARS ON BRIDGE
TELERATE SERVICE (FORMERLY DOW JONES MARKET SERVICE) PAGE 3750 (OR A PAGE
PUBLISHED BY A SUCCESSOR TO BRIDGE TELERATE SERVICE) AS OF 11:00 A.M.
LONDON TIME ON THE DAY THAT IS TWO LONDON BANKING DAYS PRECEDING
A SELLER PAYMENT DATE. SUCH RATE SHALL HAVE A RESET FREQUENCY ON
A QUARTERLY BASIS. IF SUCH RATE IS NOT AVAILABLE, THEN THE RATE
SHALL BE DETERMINED BY THE CALCULATION AGENT IN GOOD FAITH. A LONDON
BANKING DAY IS ANY DAY ON WHICH COMMERCIAL BANKS ARE OPEN FOR
GENERAL BUSINESS, INCLUDING DEALINGS IN FOREIGN EXCHANGE AND FOREIGN CURRENCY
DEPOSITS, IN LONDON. 
 CGMI HAS SENT YOU A
SYSTEM-GENERAGED CONFIRMATION IN ADDITION TO THIS CONFIRMATION. IN THE EVENT
OF ANY INCONSISTENCY BETWEEN THIS CONFIMATION AND THE SYSTEM-GENERATED CONFIRMATION,
ABSENT MANIFEST ERROR THE TERMS OF THIS CONFIRMATION SHALL PREVAIL. FROM
AND AFTER THE DATE HEREOF, ALL REFERENCES IN THE AGREEMENT OR
OTHERWISE TO THE ORIGINAL CONFIRMATION SHALL BE DEEMED TO BE REFERENCES
TO THE ORIGINAL CONFIRMATION AS AMENDED AND RESTATED HEREBY. 
 PLEASE EXECUTE THIS CONFIRMATION BELOW
AND RETURN TO ARLENE HAMILTON AT 388 GREENWICH STREET, 17TH FL, NEW YORK, NY 10013, TO SIGNIFY YOUR AGREEMENT TO THE ABOVE
TERMS. 
 THANK YOU. 
  

			
	CITIGROUP GLOBAL MARKETS INC.
	  

	NAME:	 	STEPHEN MALEKIAN
	TITLE:	 	MANAGING DIRECTOR

 AGREED AND ACCEPTED: 
 FIRST STATE BANK 
  

			
	BY:	 	  

	NAME:	 	
	TITLE:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]