Document:

fsb-ex1043_280.htm

 

Exhibit 10.43 

TRIPLE NET OFFICE LEASE AGREEMENT 

THIS TRIPLE NET OFFICE LEASE AGREEMENT (this “Lease”) is made and entered into on this 2nd day of October     , 2014, by and between ASPEN DEVELOPMENT OF COOL SPRINGS, LLC, a Tennessee limited liability company, (“Landlord”), and FRANKLIN SYNERGY BANK, a Tennessee banking corporation (“Tenant”). 

1.    Leased Premises. 

a.    Subject to and upon the terms hereinafter set forth, and in consideration of the sum of Ten Dollars ($10.00) and the mutual covenants set forth herein, the receipt and sufficiency of which are hereby acknowledged, Landlord does hereby lease and demise to Tenant, and Tenant does hereby lease and take from Landlord, 4,675 rentable square feet of the building located on certain improved real property municipally known as 3359 Aspen Grove Drive; Suite 100, located in Franklin, Williamson County, Tennessee (otherwise known as Building 4 in the Aspen Grove Plaza Office Park), and more particularly described in Exhibit A attached hereto (the “Premises”). 

b.    Tenant’s taking possession of the Premises or any portion thereof shall be conclusive evidence against Tenant that such portion of the Premises was then in good order and satisfactory condition, subject to any “punch list” items identified in writing from Tenant to Landlord within thirty (30) days following completion of Landlord’s Work, and further subject to any latent defects in Landlord’s Work of which Tenant notifies Landlord in writing within one (1) year from the completion of Landlord’s Work. Except to the extent expressly set forth in this Lease, Tenant acknowledges that no promise by or on behalf of Landlord, any of Landlord’s beneficiaries, or any of their respective agents, partners or employees to alter, remodel, improve, repair, decorate or clean the Premises has been made to or relied upon by Tenant, and that no representation respecting the condition of the Premises by or on behalf of Landlord, any of Landlord’s beneficiaries, or any of their respective agents, partners or employees has been made to or relied upon by Tenant. 

2.    Term. Subject to and upon the terms and conditions set forth herein, or in any exhibit hereto, the term (together with any extensions or renewals thereof, the “Term”) of this Lease shall commence on the Commencement Date (defined below) and shall expire one hundred eighty months (180) after the Commencement Date. “Commencement Date” shall mean the date Tenant begins its business operations in the Premises but in no event later than 30 days after Landlord completes Landlord’s Work and delivers possession of the Premises to Tenant by Landlord giving Tenant written notice. For purposes of clarification, immaterial “punch list” items identified by Tenant pursuant to Section 1(b) shall not affect the Commencement Date, unless they materially and adversely affect Tenant’s ability to (i) operate its business in the Premises or (ii) complete Tenant’s build out of the Premises. The Commencement Date shall be set forth in a Commencement Agreement, identical in the form to that attached hereto as Exhibit B and executed by Landlord and Tenant. 

3.    Use. The Premises are to be used and occupied solely for the purpose of providing banking and financial services and office space and for any other lawful use, but for no unlawful purpose. Tenant shall not use or allow the Premises to be used for any improper, immoral, disreputable or objectionable purpose, and Tenant shall not cause, maintain or permit any nuisance or waste in, on or about the Premises. Without limitation of the foregoing, in no event shall Tenant use or permit the use of all or any portion of the Premises (i) as and/or for sleeping quarters and/or lodging or (ii) for any unlawful purpose of any kind whatsoever and howsoever arising. 

4.    Rent. 

a.    Commencing on the Commencement Date and continuing thereafter throughout the full Term of this Lease, Tenant hereby agrees to pay the annual Base Rental (defined and set forth below) and Additional Rental (defined below). The Base Rental shall be due and payable in advance in twelve equal monthly installments on the first day of each calendar month at Landlord’s address as provided herein (or such other address as may be designated by Landlord from time to time). If the Commencement Date is other than the first day of a calendar 

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month or if this Lease expires on other than the last day of a calendar month, then the installments of Base Rental for such month or months shall be prorated. 

“Base Rental” shall mean the amount of rent due to Landlord per square foot for the first year of the Term as set forth in the Base Rental Agreement by and between Landlord and Tenant. 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Year
	
  
	
Per Sq Ft First Floor
	
  
	
Total Per Annum
	
  
	
Total Per Month

	
1
	
  
	
$24
	
  
	
$112,200
	
  
	
$9,350

Following the first year of the Term, Base Rental shall increase on each anniversary of the Commencement Date as set forth herein. Effective on each Adjustment Date (defined below), Base Rental shall be increased (relative to the previous year’s Base Rental) by the percentage increase, if any, in the CPI (defined below); provided, however, that each annual increase in Base Rental shall not be less than 1.5% of the previous year’s annual Base Rental and not more than 3.5% of the previous year’s annual Base Rental. “Adjustment Date” shall mean, as the case may require, each anniversary of the Commencement Date; provided, however, if the Commencement Date is other than the first day of the month, then “Adjustment Date” shall mean, as the case may require, the first day of the first month occurring after each anniversary of the Commencement Date. As used herein, “CPI” shall mean the Consumer Price Index for All Urban Consumers – South Urban Area, All Items, U.S.A. Area, 1982-1984 = 100, as published by the Bureau of Labor Statistics, United States Department of Labor (U.S. City Average). If such index is discontinued, CPI shall then mean the most nearly comparable index published by the Bureau of Labor Statistics or other official agency of the United States Government as determined by Landlord. 

b.    All sums other than Base Rental due Landlord under this Lease (including, without limitation, amounts reimbursed to Landlord or for which Tenant must indemnify Landlord, late fees, and attorney fees and costs) shall be additional rental (“Additional Rental”). Base Rental and Additional Rental collectively are referred to as “Rental” or “Rent”. 

a.    Tenant hereby agrees to pay to Landlord first month’s Base Rental upon execution of the Lease. 

5.    Renewal Options. 

a.    Tenant shall have the right and option to renew the Lease (“Renewal Option”) for two (2) successive renewal periods of five (5) years each (each, an “Option Term”); provided, however, the Renewal Option is contingent upon the following: (i) there is not an Event of Default beyond all applicable cure period(s) at the time Tenant gives Landlord notice of Tenant’s intention to exercise the Renewal Option or at the expiration of the current Term; (ii) no event has occurred that upon notice or the passage of time would constitute an Event of Default, unless Landlord has given notice of default and Tenant is diligently attempting to cure such event; and (iii) Tenant is occupying the Premises. Following expiration of the final Option Term allowable hereunder, Tenant shall have no further right to renew the Lease pursuant to this Section 5. 

b.    Tenant shall exercise the Renewal Option by giving Landlord notice at least one hundred eighty (180) days prior to the expiration of the current Term. If Tenant fails to give notice to Landlord prior to the 180-day period, then Tenant shall forfeit the Renewal Option. If Tenant exercises the Renewal Option, then during the Option Term, Landlord and Tenant’s respective rights, duties and obligations shall be governed by the terms and conditions of the Lease, except as provided otherwise in this Section. Time is of the essence in exercising the Renewal Option. 

c.    The Base Rental for an Option Term shall be the Fair Market Rental Rate. “Fair Market Rental Rate” shall mean the market rental rate for the time period such determination is being made for office space in same class office buildings in the area of Franklin, Tennessee (the “Area”) of comparable condition for space of equivalent quality, size, utility, and location. Such determination shall take into account all relevant factors, including, without limitation, the following matters: the credit standing of Tenant; the length of the term; the fact that Landlord will experience no vacancy period and that Tenant will not suffer the costs and business interruption associated with moving its offices and negotiating a new lease; construction allowances and other tenant concessions that would be available to tenants comparable to Tenant in the Area (such as moving expense allowance, free rent 

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periods, and lease assumptions and take over provisions, if any, but specifically excluding the value of improvements installed in the Premises at Tenant’s cost), and whether adjustments are then being made in determining the rental rates for renewals in the Area because of concessions being offered by Landlord to Tenant (or the lack thereof for the Option Term in question). For purposes of such calculation, it will only be assumed that Landlord is paying a representative of Tenant a brokerage commission in connection with the Option Term in question if Landlord is in fact paying a brokerage commission to a representative of Tenant in connection with the applicable Option Term. 

6.    Utilities and Service. Tenant shall pay, when due, all charges for gas, water, electricity and any and all other utility services used upon the Premises during the Term and any holdover period, including, without limitation, all tap, connection and/or meter fees and deposits. 

b. Security Deposit. Tenant hereby agrees to pay to Landlord a security deposit of four thousand six hundred and forty two dollars ($9,350), which is equal to the estimated first month’s Base Rental, within 30 days of the commencement date of the Lease (the “Security Deposit”). Upon the occurrence of any Event of Default by Tenant, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrears of Base Rental or Additional Rental or any other payment obligation hereunder, including, but not limited to, the cost of any damage, injury, expense, or liability caused by any Event of Default by Tenant hereunder. Any remaining balance of the Security Deposit shall be returned by Landlord to Tenant within a reasonable period of time after the termination or expiration of this Lease and the satisfaction of Tenant’s obligations hereunder. The Security Deposit shall not be considered an advance payment of rental or a measure of Landlord’s damages in case of default by Tenant. Tenant shall not be entitled to receive and shall not receive any interest on the Security Deposit, and Landlord may commingle the same with other monies of Landlord. In the event Landlord applies the Security Deposit or any portion thereof to the payment of any sum described above and this Lease is not terminated, Tenant shall immediately deposit with Landlord an amount of money equal to the amount so applied, and such amount shall be deemed to be part of the Security Deposit. In the event of a sale or transfer of Landlord’s interest in the Premises, Landlord shall have the right to transfer the Security Deposit to the purchaser or lessor, as the case may be, and upon any such transfer and acknowledgement of receipt of Security Deposit by such transferee, Landlord shall be relieved of all liability to Tenant for the return of the Security Deposit, and Tenant shall look solely to the new owner or lessor for the return of the Security Deposit. 

7.    Keys and Locks. Landlord shall furnish Tenant with two (2) keys for each standard lockset on code required doors entering the Premises from public areas. Additional keys will be Tenant’s responsibility and at Tenant’s expense. All such keys shall remain the property of Landlord. Upon termination of this Lease, Tenant shall surrender to Landlord all keys to any locks on doors entering or within the Premises, and give to Landlord the explanation of the combination of all locks for safes, safe cabinets and vault doors, if any, in the Premises. 

8.    Parking. Landlord shall provide approximately 7 parking spaces on the Premises for Tenant’s use. 

9.    Entry for Repairs and Inspection. Tenant shall permit Landlord and its contractors, agents or representatives to enter into and upon any part of the Premises during reasonable hours to inspect the same; perform maintenance and make repairs, replacements or improvements as set forth under this Lease; and, upon reasonable prior notice to Tenant, for the purpose of showing the Premises to prospective tenants or purchasers. Landlord shall use its reasonable efforts not to interfere materially with the operation of Tenant’s business during any such entry. 

10.    Laws and Regulations; Encumbrances. Tenant shall comply with, and Tenant shall cause its employees, contractors and agents to comply with, and shall use its best efforts to cause its visitors and invitees to comply with the following, to the extent Tenant has been made aware thereof: (i) all laws, ordinances, orders, rules and regulations of all state, federal, municipal and other governmental or judicial agencies or bodies relating to the use, condition or occupancy of the Premises; and (ii) all recorded easements, operating agreements, parking agreements, declarations, covenants and instruments encumbering the Premises. Copies of all documents described above must be provided to Tenant by Landlord upon Landlord receiving written request from Tenant for the specific documents. Landlord warrants that to Landlord’s knowledge, no such ordinances or other matters of record prohibit Tenant’s use of the Premises as a branch banking facility. 

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11.    Hazardous Substances. Tenant shall comply, at its sole cost and expense, with all laws, ordinances, orders, rules and regulations of all state, federal, municipal and other governmental or judicial agencies or bodies relating to the protection of public health, safety, welfare or the environment (collectively, “Environmental Laws”) in the use, occupancy and operation of the Premises. Tenant agrees that no Hazardous Substances (defined below) shall be used, located, stored or processed on the Premises by Tenant or any of its agents, employees, contractors, assigns, subtenants, guest or invitees, and no Hazardous Substances will be released or discharged from the Premises. The term “Hazardous Substances” shall mean and include all hazardous and toxic substances, waste or materials, any pollutant or contaminant, including, without limitation, PCB’s, asbestos and raw materials that include hazardous constituents or any other similar substances or materials that are now or hereafter included under or regulated by any Environmental Laws or that would pose a health, safety or environmental hazard. Tenant hereby agrees to indemnify, defend and hold harmless Landlord from and against any and all losses, liabilities (including, but not limited to, strict liability), damages, injuries, expenses (including, but not limited to, court costs, litigation expenses, reasonable attorneys’ fees and costs of settlement or judgment), suits and claims of any and every kind whatsoever paid, incurred or suffered by, or asserted against, Landlord by any person, entity or governmental agency for, with respect to, or as a direct or indirect result of, the presence in or the escape, leakage, spillage, discharge, emission or release from the Premises of any Hazardous Substances by Tenant or any of its agents, employees, contractors, assigns, subtenants, guest or invitees. Tenant shall not be responsible for any Hazardous Substances located on the Premises prior to the date Landlord delivers the Premises to Tenant. 

12.    Taxes and Assessments. 

a.    Tenant shall pay all taxes, license fees, and special charges and assessments levied by any taxing authorities against personal property which Tenant owns and/or uses within, upon, or about the Premises, or by reason of the conduct and operation of its business thereon, including, without limitation, any special assessments or charges for water and/or sewers. 

b.    Tenant shall also pay any and all ad valorem real estate taxes on the Premises and any personal property taxes assessable on any personal property located on the Premises on or before the same are due to the taxing authority. Landlord shall forward all ad valorem tax bills for the Premises to Tenant immediately upon receipt. Landlord shall have the right to pay such taxes before they become delinquent if Tenant has not paid as required under this Lease, and such payment on Tenant’s behalf shall be immediately payable to Landlord by Tenant as Additional Rental. 

c.    Notwithstanding the foregoing, Tenant shall have no obligation under this Lease to pay: (i) income, profits, intangible, documentary stamps, franchise, corporate, capital stock, succession, estate, gift or inheritance taxes; (ii) any assessment or additional tax associated with a change in ownership of the Premises; or (iii) governmentally imposed “impact fees” related to further improvement of the Premises, including, but not limited to, the widening of exterior roads, the installation of or connection to sewer lines, sanitary and storm drainage systems and other utility lines and installations. 

d.    Tenant shall indemnify Landlord against all taxes (on personal property and real property), licenses fees, special charges and assessments paid for by Landlord on Tenant’s behalf, and Tenant shall indemnify Landlord against all costs and expenses (including attorney fees) in connection with same. Amounts due Landlord hereunder shall be Additional Rental. 

e.    Tenant may at its sole cost and expense, and in its own name and/or in the name of Landlord, dispute and contest any of the above-described taxes, license fees, special charges, assessments and/or ad valorem real estate taxes by appropriate proceedings diligently conducted in good faith, but only after Tenant has deposited with Landlord or with an applicable competent authority, in Tenant’s reasonable discretion, the amount so contested and unpaid which shall be held by Landlord (if Landlord is so chosen to hold such deposited funds) in an interest-bearing account until the termination of the proceedings, at which time the amount deposited shall be applied by Landlord toward the payment of the items held valid (plus any court costs, interest, penalties and other liabilities associated with the proceedings), and Tenant’s share of any excess shall be returned to Tenant. Tenant shall indemnify, defend and hold harmless Landlord from and against any cost, damage or expense, including attorney’s fees, actually and reasonably incurred by Landlord, as Additional Rental, in connection with any such proceedings. 

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13.    Leasehold Improvements. 

a.    Following completion of Landlord’s Work (defined in Exhibit C hereto) and Tenant’s acceptance of the Premises from Landlord, subject to the “punch list” items and latent defects identified in accordance with Section 1(b) above, Tenant accepts the same “AS IS” without any agreements, representations, understandings or obligations on the part of Landlord to perform any alterations, repairs or improvements except as expressly set forth in this Lease. ADDITIONALLY, EXCEPT AS EXPRESSLY SET FORTH IN THIS LEASE, LANDLORD MAKES NO WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE LEASEHOLD IMPROVEMENTS OR TO LANDLORD’S WORK, AND ALL IMPLIED WARRANTIES WITH RESPECT TO THE PREMISES, INCLUDING WITHOUT LIMITATION THOSE OF SUITABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE HEREBY EXPRESSLY NEGATED AND WAIVED. 

b.    Tenant shall be entitled to a Tenant Improvement Allowance (defined and set forth in Exhibit C). Notwithstanding the Tenant Improvement Allowance, Tenant agrees that it will make no exterior or structural alterations or additions to the Premises nor post or attach or affix to the exterior of the Premises, any signs, air conditioners or other objects without memorializing such proposed alterations, attachments, or fixtures in a Tenant work letter (in form acceptable to Landlord) and obtaining Landlord’s prior written consent to same. Notwithstanding the foregoing, Tenant shall have the right to make interior, non-structural alterations to the Premises without Landlord’s consent, so long as such alterations do not (i) affect the structure or electrical, plumbing, or mechanical systems of the Premises; or (ii) decrease the value of the Premises. Except as may be covered by Tenant’s Improvement Allowance, Tenant shall be responsible for the cost of such alterations or signs. Tenant shall have the right to install its trade fixtures and equipment in, upon and about the Premises; provided, however, that Tenant shall remove the same on or before the expiration of this Lease, and if so requested by Landlord, promptly after any termination of this Lease; and provided, further, that Tenant shall promptly thereafter repair all damage caused to the Premises by reason of such installation or removal. 

c.    Tenant shall indemnify and hold Landlord harmless from and against all costs (including reasonable attorneys’ fees and costs of suit), losses, liabilities, or causes of action arising out of or relating to any alterations, additions or improvements made by Tenant to the Premises, including, but not limited to, work not completed in a workmanlike manner and any contractor’s, mechanics’ or materialman’s liens asserted in connection therewith. This indemnification obligation shall survive the Term of this Lease. 

d.    Should any contractor’s, mechanic’s or other liens be filed against any portion of the Premises by reason of Tenant’s acts or omissions or because of a claim against Tenant, Tenant shall cause the same to be canceled or discharged of record by bond or otherwise within thirty (30) days after notice by Landlord. If Tenant shall fail to cancel or discharge said lien or liens, within said thirty (30) day period, Landlord may, at its sole option, cancel or discharge the same and upon Landlord’s demand, Tenant shall promptly reimburse Landlord for all reasonable costs incurred in canceling or discharging such liens, including attorney fees in connection with same. 

14.    Maintenance and Repairs to the Premises. Following completion of Landlord’s Work, but subject to any “punch list” items, latent defects, or other defects expressly covered by any warranty under this Lease, Tenant shall make and pay for any and all repairs or replacements to any and all portions of the interior and exterior of the Premises which are necessary to keep the same in a good state of repair or condition, such as, but not limited to, the roof and all structural members of the building, all fixtures, furnishings, lighting, air conditioning, plumbing, heating, electrical, floors, walls, ventilation systems, and any and all other parts of the building or other portions of the Premises. The parking lot, landscaping, plantings, and the exterior of the Premises will be maintained by the HOA in a good and neat condition at all times, and this expense shall be paid by Tenant. Tenant shall perform all maintenance, repairs, replacements and improvements required by any governmental law, ordination, rule or regulation. Notwithstanding anything in this Lease to the contrary, Tenant shall not be required to construct or install any item that is capital in nature, unless the need for such installation or construction is caused by Tenant’s negligence or willful misconduct. Without limiting Tenant’s maintenance and repair obligations hereunder, in the event Tenant fails to commence, within ten (10) days after written notice from Landlord to Tenant, or to diligently complete, any maintenance, repairs, replacements or improvements necessitated by Tenant’s negligence or willful conduct, or necessitated by Tenant’s waste of the Premises, Landlord may, at its option, perform any such maintenance, repairs, replacements or improvements deemed necessary by Landlord, and Tenant shall pay to Landlord on demand Landlord’s cost thereof, plus an administrative fee of ten percent (10%) of such costs as 

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Additional Rental. As used in this Section 15, any requirement to maintain the Premises in a “good state of repair or condition” shall mean maintenance of the Premises in as good a condition as existed upon the initial completion of the improvements on the Premises, reasonable wear and tear and damage by casualty excepted. 

15.    Condemnation. If all or substantially all of the Premises, or such portion of the Premises as would render, in Landlord’s reasonable judgment, the continuance of Tenant’s business from the Premises impracticable, shall be permanently taken or condemned for any public purpose, then Landlord or Tenant may terminate this Lease. If less than all or substantially all of the Premises shall be taken, then Landlord shall have the option of terminating this Lease by written notice to Tenant within ten (10) days following the date of such condemnation or taking. If this Lease is terminated as provided above, this Lease shall cease and expire as of the date of the taking. In the event that this Lease is not terminated and a portion of the Premises is taken, Tenant shall pay the Base Rental and Additional Rental up to the date of the taking, and this Lease shall thereupon cease and terminate with respect to the portion of the Premises so taken. Thereafter the Base Rental and Additional Rental shall be adjusted on an equitable basis. If this Lease is not terminated, Landlord shall promptly repair the Premises’ building to an architectural unit, fit for Tenant’s occupancy and business; provided, however, that Landlord’s obligation to repair hereunder shall be limited to the extent of the net proceeds from such taking made available to Landlord for such repair. However, in the event such proceeds are not sufficient to restore the Premises to a condition reasonably suitable for the operation of Tenant’s business, Tenant may terminate this Lease, at the time Landlord notifies Tenant of the extent to which the Premises will be restored. In the event of any temporary taking or condemnation for any public purpose of the Premises or any portion thereof, this Lease shall continue in full force and effect except that Base Rental and Additional Rental shall be adjusted on an equitable basis for the period of such taking, and Landlord shall be under no obligation to make any repairs or alterations. In the event of any taking of the Premises, Tenant hereby assigns to Landlord the value of all or any portion of the unexpired term of the Lease and all leasehold improvements, and Tenant shall not assert a claim for a condemnation award therefor; provided, however, Tenant may pursue a separate award from the condemning authority for (a) relocation and moving expenses, and (b) compensation for loss of Tenant’s business. 

16.     Fire or Casualty. If the building or any improvement on the Premises shall be damaged in any way, in whole or in part, or rendered untenantable by fire or other casualty, Tenant shall restore the building to its original condition. Rent shall not abate or be reduced following any casualty loss or during any period of restoration. It shall be Tenant’s responsibility to obtain business interruption insurance coverage to insure against any loss Tenant may suffer as a result of any casualty damage to the Premises as well as Tenant’s inability to use all or any part of the Premises as a result of such casualty. 

17.    Insurance. 

a.    Liability Insurance. Tenant shall, during the entire term hereof keep in full force and effect a policy or policies of public liability, personal and property damage insurance with respect to the Premises, in which the limits shall be not less than $2,000,000 in the aggregate, and $1,000,000 per occurrence. Such amounts shall be increased every three (3) years based on any increase in the Consumer Price Index-All Urban during such 3-year period. The policies shall name Landlord and any lender of Landlord as an additional insured, and shall contain a clause that the insurer will not cancel or change the insurance without first giving all additional insureds thirty (30) days’ prior written notice. The insurance shall be with an insurance company licensed to do business in Tennessee, and a copy of the policy, or a certificate of insurance together with proof of premium payment, shall be delivered to Landlord initially and at each renewal hereof. 

b.    Fire and Casualty Insurance. Landlord agrees to keep in full force and effect a policy or policies or broad form, all risk coverage insurance, in amounts not less than eighty percent (80%) of the reasonable reproduction or replacement value of the Premises improvements (including all buildings and structures thereon, and all portions thereof), determined annually, and with no reduction for depreciation, use, wear and tear. Landlord shall obtain at least three (3) separate bids for such insurance (which bids shall be for the same coverage and on comparable terms and conditions), and the least expensive policy shall be selected. With respect to damage or destruction of Premises improvements, which damage or destruction is covered, in whole or in part, by insurance, it is agreed that the proceeds from such insurance which are paid to Landlord shall be used and applied exclusively for the purpose of making replacements or repairs, if and only if such proceeds are sufficient in amount to complete such necessary replacements or repairs, which are paid to Landlord are insufficient therefor, Landlord will provide 

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the deficiency, it being the intent of the parties hereto that Landlord shall have the obligation to rebuild, reconstruct or replace the Premises improvements damaged or destroyed by fire or other casualty with improvements of equal value, whether such casualty shall be insured or not insured against, and whether the proceeds of any such insurance are paid to Landlord. The insurance shall be with a good and A-rated insurance company licensed to do business in Tennessee, and a copy of the policy, or a certificate of insurance together with proof of premium payment, shall be delivered to Tenant initially and at each renewal thereof. For the first calendar year of the Term, Tenant shall pay to Landlord, on or before the Commencement Date, the total cost of such fire and casualty insurance for such period of time. For calendar years following the first calendar year of the Term, Tenant shall pay to Landlord, in advance of such calendar year, Landlord’s total estimated cost of such fire and casualty insurance for such upcoming calendar year. Within one hundred twenty (120) days following the expiration of each calendar year, the estimated cost of such fire and casualty insurance shall be reconciled against the actual cost of such insurance, and any deficiency shall be payable by Tenant to Landlord within ten (10) days following demand. If such reconciliation reveals an overpayment by Tenant, such excess shall be credited against the next installment of Rent due hereunder or, if the Term has then expired, such excess shall be refunded to Tenant within ten (10) days following demand. All amounts due Landlord under this section shall be Additional Rental. 

18.    Damages from Certain Causes. Landlord shall not be liable or responsible to Tenant for any loss or damage to any property or person occasioned by theft, fire, act of God, public enemy, riot, strike, insurrection, war, act or omission of any party other than Landlord, any nuisance or interference caused or created by any property owner other than Landlord, requisition or order of governmental body or authority, court order or injunction, or any cause beyond Landlord’s control or for any damage or inconvenience which may arise through repair or alteration of any part of the Premises as required by this Lease. 

19.    Hold Harmless. 

a.    Landlord shall not be liable to Tenant, its agents, servants, employees, contractors, customers or invitees for any damage to person or property caused by any act, omission or neglect of Tenant. Without limiting or being limited by any other indemnity in this Lease, but rather in confirmation and furtherance thereof, Tenant agrees to indemnify, defend by counsel reasonably acceptable to Landlord and hold Landlord harmless of, from and against any and all losses, damages, liabilities, claims, liens, costs and expenses (including, but not limited to, court costs, reasonable attorneys’ fees and litigation expenses) in connection with injury to or death of any person or damage to or theft, loss or loss of the use of any property occurring in or about the Premises arising from Tenant’s occupancy of the Premises, or the conduct of its business or from any activity, work, or thing done, permitted or suffered by Tenant in or about the Premises, or from any breach or default on the part of Tenant in the performance of any covenant or agreement on the part of Tenant to be performed pursuant to the terms of this Lease, or due to any other act or omission or willful misconduct of Tenant or any of its agents, employees, contractors, assigns, subtenants, guest or invitees. 

b.    Tenant shall not be liable to Landlord, its agents, servants, employees, contractors, customers or invitees for any damage to person or property caused by any act, omission or neglect of Landlord. Without limiting or being limited by any other indemnity in this Lease, but rather in confirmation and furtherance thereof, Landlord agrees to indemnify, defend by counsel reasonably acceptable to Tenant and hold Tenant harmless of, from and against any and all losses, damages, liabilities, claims, liens, costs and expenses (including, but not limited to, court costs, reasonable attorneys’ fees and litigation expenses) in connection with injury to or death of any person or damage to or theft, loss or loss of the use of any property occurring in or about the Premises arising from any breach or default on the part of Landlord in the performance of any covenant or agreement on the part of Landlord to be performed pursuant to the terms of this Lease, or due to any other grossly negligent act or omission or willful misconduct of Landlord or any of its agents or employees. 

20.    Default and Remedies. 

 

			
	
 
	
a.
	
The occurrence of any of the following shall constitute a default under and breach of this Lease by Tenant (an “Event of Default”): 

 

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i)
	
Failure by Tenant to pay any monetary amounts (including Base Rental and Additional Rental) due hereunder within ten (10) days following written notice of non-payment from Landlord to Tenant;

 

			
	
 
	
ii)
	
Abandonment of the Premises (defined as any period of one hundred and eighty (180) consecutive days without operation of Tenant’s business in the Premises);

 

			
	
 
	
iii)
	
Failure by Tenant to observe or perform any of the covenants in respect of assignment and subletting of this Lease;

 

			
	
 
	
iv)
	
Failure by Tenant to cure forthwith, immediately after receipt of notice from Landlord, any hazardous condition which Tenant has created or permitted in violation of law or of this Lease;

 

			
	
 
	
v)
	
Failure by Tenant to complete, execute and deliver any instrument or document required to be completed, executed and delivered by Tenant within twenty (20) days after the initial written demand for same to Tenant;

 

			
	
 
	
vi)
	
Failure by Tenant to observe or perform any other non-monetary covenant, agreement, condition or provision of this Lease, if such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; provided that such thirty (30) day period shall be extended for the time reasonably required to complete such cure, if such failure cannot reasonably be cured within said thirty (30) day period and Tenant commences to cure such failure within said thirty (30) day period and thereafter diligently and continuously proceeds to cure such failure;

 

			
	
 
	
vii)
	
The levy upon execution or the attachment by legal process of the leasehold interest of Tenant, or the filing or creation of a lien in respect of such leasehold interest, which lien shall not be released or discharged within thirty (30) days from the date of such filing;

 

			
	
 
	
viii)
	
Tenant or any guarantor of Tenant’s obligations under this Lease becomes insolvent or bankrupt or admits in writing its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver for all or a major part of its property;

 

			
	
 
	
ix)
	
A trustee or receiver is appointed for Tenant, any guarantor of Tenant’s obligations under this Lease or for a major part of either party’s property and is not discharged within sixty (60) days after such appointment;

 

			
	
 
	
x)
	
Any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding for relief under any bankruptcy law or similar law for the relief of debtors, is instituted (A) by Tenant or any guarantor of Tenant’s obligations under this Lease, or (B) against Tenant or any guarantor of Tenant’s obligations under this Lease and is allowed against it or is consented to by it or is not dismissed within sixty (60) days after such institution; or

 

			
	
 
	
xi)
	
Tenant’s repeated failure to observe or perform any of the other covenants, terms or conditions hereof more than three (3) times, in the aggregate, in any period of twelve (12) consecutive months.

b.     Upon the occurrence of an Event of Default, Landlord agrees to use reasonable efforts to mitigate its damages, but shall have the option to do and perform any one or more of the following in addition to, and not in limitation of, any other remedy or right permitted it by law or in equity or by this Lease: 

 

			
	
 
	
i)
	
Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Premises and correct or repair any condition which shall constitute a failure on Tenant’s part to keep, observe, perform, satisfy, or abide by any term, condition, covenant, agreement, or obligation of this Lease, and Tenant shall fully reimburse and compensate Landlord, for Landlord’s actual cost incurred, on demand.

 

			

8

 

			
	
 
	
ii)
	
Landlord, with or without terminating this Lease, may immediately or at any time thereafter demand in writing that Tenant vacate the Premises and thereupon Tenant shall vacate the Premises and remove therefrom all property thereon belonging to or placed on the Premises by, at the direction of, or with consent of Tenant within ten (10) days of receipt by Tenant of such notice 

from Landlord, whereupon Landlord shall have the right to re-enter and take possession of the Premises.

 

			
	
 
	
iii)
	
Landlord, with or without terminating this Lease, may immediately or at any time thereafter, re-enter the Premises and remove therefrom Tenant and all property belonging to or placed on the Premises by, at the direction of, or with consent of Tenant. Any such re-entry and removal by Landlord shall not of itself constitute an acceptance by Landlord of a surrender of this Lease or of the Premises by Tenant and shall not of itself constitute a termination of this Lease by Landlord.

 

			
	
 
	
iv)
	
Landlord, with or without terminating this Lease, may immediately or at any time thereafter relet the Premises or any part thereof for such time or times, at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, and Landlord may make any alterations or repairs to the Premises which it may deem necessary or proper to facilitate such reletting; and Tenant shall pay all reasonable costs of such reletting; and if this Lease shall not have been terminated, Tenant shall continue to pay all rent and all other charges due under this lease up to and including the date of beginning of payment of rent by any subsequent tenant of part or all of the Premises, and thereafter Tenant shall pay monthly during the remainder of the term of this Lease the difference, if any, between the rent and other charges collected from any such subsequent tenant or tenants and the rent and other charges reserved in this Lease, but Tenant shall not be entitled to receive any excess of any such rents collected over the rents reserved herein.

 

			
	
 
	
v)
	
Landlord may immediately or at any time thereafter terminate this Lease, and this Lease shall be deemed to have been terminated upon receipt by Tenant of written notice of such termination; upon such termination Landlord shall recover from Tenant all damages Landlord may suffer by reason of such  termination including, without limitation, unamortized sums expended by Landlord for leasing commissions and construction of tenant improvements, all arrearages in rentals, costs, charges, additional rentals, and reimbursements, the cost (including court costs and attorneys’ fees) of recovering possession of the Premises, the cost of any alteration of or repair to the Premises which is necessary or proper to prepare the same for reletting and, in addition thereto, Landlord at its election shall have and recover from Tenant either (A) an amount equal to the excess, if any, of the total amount of all rents and other charges to be paid by Tenant for the remainder of the term of this Lease over the then reasonable rental value of the Premises for the remainder of the term of this Lease, or (B) the rents and other charges which Landlord would be entitled to receive from Tenant pursuant to the provisions of subsection (iv) if the Lease were not terminated. Such election shall be made by Landlord by serving written notice upon Tenant of its choice of one of the two said alternatives within thirty (30) days of the notice of termination.

 

			
	
 
	
vi)
	
The exercise by Landlord of any one or more of the rights and remedies provided in this Lease shall not prevent the subsequent exercise by Landlord of any one or more of the other rights and remedies herein provided. All remedies provided for in this Lease are cumulative and may, at the election of Landlord, be exercised alternatively, successively, or in any other manner and are in addition to any other rights provided for or allowed by law or in equity.

 

			
	
 
	
vii)
	
No act by Landlord with respect to the Premises shall terminate this Lease, including, but not limited to, acceptance of the keys, institution of an action for detainer or other dispossessory proceedings, it being understood that this Lease may only be terminated by express written notice from Landlord to Tenant, and any reletting of the Premises shall be presumed to be for and on behalf of Tenant, and not Landlord, unless Landlord expressly provides otherwise in writing to Tenant.

(c)    In the event Landlord fails to perform any of its obligations under this Lease and such non-performance continues for a period of thirty (30) days following written notice of default from Tenant, Landlord shall be deemed to be in material default of this Lease, and Tenant shall have all remedies available at law, in equity or under this Lease; provided, however, that such thirty (30) day period shall be extended for the time reasonably required to complete such cure, if such failure cannot reasonably be cured within said thirty (30) day period and Landlord commences to cure such failure within said thirty (30) day period and thereafter diligently and continuously proceeds to cure such failure. 

9

 

21.     Late Payments. In the event any installment of any Rental owed by Tenant hereunder is not paid within 10 days, Tenant shall pay a late charge equal to the greater of $100.00 or five percent (5%) of the amount due. The parties agree that such charge is a fair and reasonable estimate of Landlord’s administrative expense incurred on account of late payment. Should Tenant make a partial payment of past due amounts, the amount of such partial payment shall be applied first to reduce all accrued and unpaid late charges, in inverse order of their maturity, and then to reduce all other past due amounts, in inverse order of their maturity. 

22.    Attorney’s Fees. If either party initiates any action to enforce its rights under this Lease or the terms hereof, the prevailing party shall be entitled to collect from the other party all court costs, reasonable attorneys fees and litigation expenses, including, but not limited to, costs of depositions and expert witnesses, that the prevailing party actually incurs in connection with such action. 

23.    No Waiver of Rights. No failure or delay of Landlord to exercise any right or power given it herein or to insist upon strict compliance by Tenant of any obligation imposed on it herein and no custom or practice of either party hereto at variance with any term hereof shall constitute a waiver or a modification of the terms hereof by Landlord or any right it has herein to demand strict compliance with the terms hereof by Tenant. No waiver of any right of Landlord or any default by Tenant on one occasion shall operate as a waiver of any of Landlord’s other rights or of any subsequent default by Tenant. No express waiver shall affect any condition, covenant, rule, or regulation other than the one specified in such waiver and then only for the time and in the manner specified in such waiver. No person has or shall have any authority to waive any provision of this Lease unless such waiver is expressly made in writing and signed by an authorized officer of Landlord. 

24.    Holding Over. In the event of holding over by Tenant after expiration or termination of this Lease without the written consent of Landlord, Tenant shall pay as rent for such holdover period one hundred fifty percent (150%) of the Rental that would have been payable if this Lease had not so terminated or expired). No holding over by Tenant after the term of this Lease shall be construed to extend this Lease, and Tenant shall be deemed a tenant at will, terminable on five (5) days notice from Landlord. In the event of any unauthorized holding over, Tenant shall indemnify Landlord against all claims for damages by any other tenant to whom Landlord shall have leased all or any part of the Premises effective upon the termination of this Lease. 

25.    Subordination. 

a.    If this Lease (and all its terms and conditions) shall become subject and subordinate to any mortgages or deeds of trust covering the Premises, whether or not for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, the holder of any such mortgage or deed of trust (any of the foregoing, a “Holder”), shall execute a subordination, non-disturbance and attornment agreement in form and content reasonably acceptable to Tenant and such mortgagee providing (in part) that as long as an event of default on the part of Tenant is not in existence, Tenant shall not be disturbed in its possession of the Premises or have its rights hereunder terminated or modified by such mortgagee, except pursuant to the provisions of this Lease. 

b.    Tenant agrees that if Landlord defaults in the performance or observance of any covenant or condition of this Lease required to be performed or observed by Landlord hereunder, Tenant will give written notice specifying such default by certified or registered mail, postage prepaid, to any Holder of which Tenant has been notified in writing, and before Tenant exercises any right or remedy which it may have on account of any such default of Landlord, such party shall have the same amount of time as is afforded Landlord to cure such default of Landlord. Whether or not any deed of trust or mortgage is foreclosed, or any Holder succeeds to any interest of Landlord under this Lease, no Holder shall have any liability to Tenant for any security deposit paid to Landlord by Tenant hereunder, unless such security deposit has actually been received by such Holder. No Holder of which Tenant has been notified, in writing, shall be bound by any amendment or modification of this Lease made without the written consent of such Holder, nor shall any such party be liable for any defaults of Landlord under this Lease. 

26.    Estoppel Certificate. Tenant agrees that, from time to time upon request by Landlord, or any existing or prospective mortgagee or ground lessor, Tenant will complete, execute and deliver a written estoppel certificate certifying (a) that this Lease is unmodified and is in full force and effect (or if there have been modifications, that this Lease, as modified, is in full force and effect and setting forth the modifications); (b) the 

10

 

amounts of the monthly installments of Base Rental, Additional Rental and other sums then required to be paid under this Lease by Tenant; (c) the date to which the Base Rental, Additional Rental and other sums required to be paid under this Lease by Tenant have been paid; (d) that Landlord is not in default under any of the provisions of this Lease, or if in default, the nature thereof in detail and what is required to cure same; and (e) such other information concerning the status of this Lease or the parties’ performance hereunder reasonably requested by Landlord or the party to whom such estoppel certificate is to be addressed. 

27.    Sublease or Assignment by Tenant. 

a.    The Tenant shall not, without the Landlord’s prior written consent, (i) assign, convey, mortgage, pledge, encumber, or otherwise transfer (whether voluntarily, by operation of law, or otherwise) this Lease or any interest hereunder; (ii) allow any lien to be placed upon Tenant’s interest hereunder; (iii) sublet the Premises or any part thereof; or (iv) permit the use or occupancy of the Premises or any part thereof by anyone other than Tenant or Tenant’s subsidiaries. Any attempt to consummate any of the foregoing without Landlord’s consent shall be void and of no force or effect. For purposes hereof, the transfer of the ownership or voting rights in a controlling interest of the voting stock of Tenant (if Tenant is a corporation) or the transfer of a general partnership interest or a majority of the limited partnership or membership interest in Tenant (if Tenant is a partnership or limited liability company), at any time throughout the term of this Lease, shall be deemed to be an assignment of this Lease. 

b.    For any proposed assignment or subletting Tenant shall submit to Landlord a copy of the proposed sublease or assignment, and such additional information concerning the business, reputation and creditworthiness of the proposed sublessee or assignee as shall be sufficient to allow Landlord to form a commercially reasonable judgment with respect thereto. If Landlord approves any proposed sublease or assignment, Landlord shall receive from Tenant as Additional Rental fifty percent (50%) of any rents or other sums received by Tenant pursuant to said sublease or assignment in excess of the rentals payable to Landlord by Tenant under this Lease (after deducting all of Tenant’s reasonable costs associated therewith, including reasonable brokerage fees and the reasonable cost of remodeling or otherwise improving the Premises for said sublessee or assignee), as such rents or other sums are received by Tenant from the approved sublessee or assignee. Landlord may require that any rent or other sums paid by a sublessee or assignee be paid directly to Landlord. 

c.    Notwithstanding the giving by Landlord of its consent to any subletting, assignment or occupancy as provided hereunder or any language contained in such lease, sublease or assignment to the contrary, unless this Lease is expressly terminated by Landlord, Tenant shall not be relieved of any of Tenant’s obligations or covenants under this Lease and Tenant shall remain fully liable hereunder. 

d.    Notwithstanding anything in this Lease to the contrary, so long as Tenant remains jointly and severally liable for all of its obligations under this Lease, Tenant shall have the right, without Landlord’s consent, to assign or transfer its interest in this Lease: (i) in connection with a merger or reorganization of Tenant or a sale of all or substantially all of Tenant’s assets (so long as such assignee expressly assumes all of Tenant’s obligations under this Lease in writing); (ii) to an entity wholly or partially owned or controlled by, or under common control with, Tenant; or (iii) to an entity whose (A) net worth is equal to or greater than the greater of the net worth or Tenant (1) on the date of this Lease or (2) at the time of such assignment; and (B) use of the Premises will be for banking and financial services; general business office use; or any other reputable business activity approved by Landlord in its reasonable discretion. 

28.    Quiet Enjoyment. Landlord covenants that Tenant shall and may peacefully have, hold and enjoy the Premises free from hindrance by Landlord or any person claiming by, through or under Landlord but subject to the other terms hereof, provided that Tenant pays the Base Rental, Additional Rental, and any other sums herein recited to be paid by Tenant and performs all of Tenant’s covenants and agreements herein contained. It is understood and agreed that this covenant and any and all other covenants of Landlord contained in this Lease shall be binding upon Landlord and its successors only with respect to breaches occurring during the ownership of the Landlord’s interest hereunder. 

29.    Assignment by Landlord. Landlord shall have the right to transfer and assign, in whole or in part, all its rights and obligations hereunder, in the Premises, and in such event and upon such transfer no further liability or obligation shall thereafter accrue against Landlord hereunder. 

11

 

30.    Limitation of Landlord’s Personal Liability. Tenant specifically agrees to look solely to Landlord’s equity interest Premises for the recovery of any monetary judgment against Landlord, it being agreed that Landlord (and its partners, members and shareholders) shall never be personally liable for any such judgment. The provision contained in the foregoing sentence is not intended to, and shall not, limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord or Landlord’s successors-in-interest or any suit or action in connection with enforcement or collection of amounts which may become owing or payable under or on account of insurance maintained by Landlord. 

31.    Force Majeure. Landlord and Tenant (except with respect to the payment of Base Rental or Additional Rental or any other monetary obligation under this Lease) shall be excused for the period of any delay and shall not be deemed in default with respect to the performance of any of the terms, covenants and conditions of this Lease when prevented from so doing by a cause or causes beyond the Landlord’s or Tenant’s (as the case may be) control (excluding financial inability to perform), which shall include, without limitation, all labor disputes, governmental regulations or controls, fire or other casualty, inability to obtain any material or services, acts of God, or any other cause not within the reasonable control of Landlord or Tenant (as the case may be). 

32.    Surrender of Premises. Upon the termination of this Lease by lapse of time or otherwise or upon the earlier termination of Tenant’s right of possession, Tenant shall quit and surrender possession of the Premises (including all leasehold improvements made or installed by Tenant or by Landlord) to Landlord, broom clean, in the same condition as upon delivery of possession to Tenant hereunder, normal wear and tear excepted. Before surrendering possession of the Premises, Tenant shall, without expense to Landlord, remove all signs, furnishings, equipment, trade fixtures, merchandise and other personal property installed or placed in the Premises and all debris and rubbish, and Tenant shall repair all damage to Premises resulting from such removal. If Tenant fails to remove any of the signs, furnishings, equipment, trade fixtures, merchandise and other personal property installed or placed in the Premises by the expiration of the Term or earlier termination of this Lease, then Landlord may, at its sole option, (i) deem any or all of such items abandoned and the sole property of Landlord; or (ii) remove any and all such items and dispose of same in any manner. Tenant shall pay Landlord on demand any and all expenses incurred by Landlord in the removal of such items, including, without limitation, the cost of repairing any damage to the Premises caused by such removal and storage charges (if Landlord elects to store such property). 

33.    Notices. Any notice or other communications required or permitted to be given under this Lease must be in writing and shall be effectively given or delivered if (a) hand delivered to the addresses for Landlord and Tenant stated below, (b) sent by certified or registered United States Mail, return receipt requested, to said addresses, (c) sent by nationally recognized overnight courier (such as Federal Express, UPS Next Day Air or Airborne Express), with all delivery charges paid by the sender and signature required for delivery, to said address; or (d) sent by facsimile to the facsimile numbers for Landlord and Tenant stated below and actually received, as evidenced by facsimile confirmation report, by Landlord or Tenant, as the case may be. Any notice mailed shall be deemed to have been given upon receipt or refusal thereof. Notice effected by hand delivery shall be deemed to have been given at the time of actual delivery. Either party shall have the right to change its address to which notices shall thereafter be sent and the party to whose attention such notice shall be directed by giving the other party notice thereof in accordance with the provisions of this Section. 

 

	
 
	
 
	
 

	
Landlord:
	
 
	
Aspen Development of Cool Springs, LLC

	
 
	
 
	
320 Main Street, Suite 230

Franklin, Tennessee 37064

Facsimile: (615) 794-7910

	
 
	
 

	
Tenant:
	
 
	
Franklin Synergy Bank

	
 
	
 
	
722 Columbia Avenue

Franklin, Tennessee 37064

Facsimile: (615) 236-4639

12

 

34.    Miscellaneous. 

a.    This Lease shall be binding upon and inure to the benefit of the successors and assigns of Landlord, and shall be binding upon and inure to the benefit of Tenant, its successors, and, to the extent assignment may be approved by Landlord hereunder, Tenant’s assigns. 

b.    All rights and remedies of Landlord and Tenant under this Lease shall be cumulative and none shall exclude any other rights or remedies allowed by law. This Lease is declared to be a Tennessee contract, and all of the terms hereof shall be construed according to the laws of the State of Tennessee. 

c.    This Lease may not be altered, changed or amended, except by an instrument in writing executed by all parties hereto. 

d.    If Tenant is a corporation, partnership, limited liability company or other entity, Tenant warrants that all consents or approvals required of third parties (including but not limited to its Board of Directors, partners or members) for the execution, delivery and performance of this Lease have been obtained and that Tenant has the right and authority to enter into and perform its covenants contained in this Lease. 

e.    To the extent permitted by applicable law, the parties hereto shall and they hereby do waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other on any matters whatsoever arising out of or in any way connected with this lease, the relationship of landlord and tenant, Tenant’s use or occupancy of the Premises and/or any claim of injury or damage. In the event Landlord commences any proceedings for nonpayment of rent or any other amounts payable hereunder, Tenant shall not interpose any counterclaim of whatever nature or description in any such proceeding, unless the failure to raise the same would constitute a waiver thereof. This shall not, however, be construed as a waiver of Tenant’s right to assert such claims in any separate action brought by Tenant. 

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

g.    Time is of the essence in this Lease. 

h.    Tenant represents and warrants to Landlord that Tenant did not deal with any broker in connection with this Lease. Tenant shall indemnify, defend and hold Landlord harmless of, from and against any and all losses, damages, liabilities, claims, liens, costs and expenses (including, without limitation, court costs, reasonable attorneys’ fees and litigation expenses) arising from any claims or demands of any other broker or brokers or finders for any commission alleged to be due such other broker or brokers or finders claiming to have dealt with Tenant in connection with this Lease or with whom Tenant hereafter deals or whom Tenant employs. 

i.    If Tenant comprises more than one person, corporation, partnership, limited liability company or other entity, the liability hereunder of all such persons, corporations, partnerships or other entities shall be joint and several. 

j.    Landlord’s receipt of any monetary amount due hereunder (including Base Rental and Additional Rental) payable by Tenant hereunder with knowledge of the breach of a covenant or agreement contained in this Lease shall not be deemed a waiver of the breach. No acceptance by Landlord of a lesser amount than the full and complete installment of monetary amount due under this Lease (including Base Rental and Additional Rental) which is due shall be considered, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed, an accord and satisfaction. Landlord may accept a check or payment without prejudice to Landlord’s right to recover the balance due or to pursue any other remedy provided in this Lease. 

13

 

k.    Submission of this instrument for examination shall not constitute a reservation of or option to lease the Premises or in any manner bind Landlord, and no lease or obligation on Landlord shall arise until this instrument is signed and delivered by Landlord and Tenant. 

1.    Any claim, cause of action, liability or obligation arising under the term of this Lease and under the provisions hereof in favor of a party hereto against or obligating the other party hereto and all of Tenant’s indemnification obligations hereunder shall survive the expiration or any earlier termination of this Lease. 

[Signature page follows.] 

 

14

 

IN WITNESS WHEREOF, the parties hereto have executed and sealed this Lease as of the date aforesaid. 

 

	
 
	
 
	
 

	
LANDLORD:

	
 

	
ASPEN DEVELOPMENT OF COOL SPRINGS, LLC

	
 
	
 

	
By:
	
 
	
/s/ Henry W. Brockman Jr.

	
Title:
	
 
	
Managing Partner

	
 

	
TENANT:

	
 

	
FRANKLIN SYNERGY BANK

	
 
	
 

	
By:
	
 
	
/s/ Sally Kimble

	
Title:
	
 
	
EVP/CAO

15

 

EXHIBIT A 

Description of Premises 

All that tract or parcel of land in Williamson County, Tennessee, and being more particularly described as follows: 

A portion of Lot 8 on the recorded plat of Lincoln Square Subdivision, Revision Three (Re-subdivision of Lot 6), by Ragan Smith & Associates, dated January 12, 2004, lying in the 8th Civil District of Williamson County, Tennessee, shown on Tax Map 62F as Parcel 001.02 and being more particularly described as follows: 

Beginning at an iron rod, the southwest corner of Lot 8 referenced above, thence North 61048’68” East a distance of 298.16 feet to a point being the Southwest corner of a proposed building, Tennessee Geodetic Survey System Coordinates Northing 586171.43 and Easting 1723594.72 (Tennessee Coordinate System of 1927-North American Datum of 1983); 

Thence North 32°19’03” West a distance of 67.50 feet to a point being the Northwest corner of a proposed building Tennessee Geodetic Survey System Coordinates Northing 586228.48 Easting 1723558.63; 

Thence North 57°40’57” East a distance of 180.00 feet to a point being the Northeast corner of a proposed building Tennessee Geodetic Survey System Coordinates Northing 586324.71 Easting 1723710.75; 

Thence South 32o19’03” West a distance of 67.50 feet to a point being the Southeast corner of a proposed building Tennessee Geodetic Survey System Coordinates Northing 586267.67 Easting 1723746.83; 

Thence South 57°40’57” West a distance of 180.00 feet to the beginning and containing 12,150 square feet or 0.279 acres, more or less, as calculated by the above bearings and distances. 

Being a portion of the property conveyed to Aspen Grove Office Partners, LLC, by deed from Bob Parks, a married person, dated February 7, 2005, recorded in Book 3474, Page 654, Register’s Office for said County. 

16

 

EXHIBIT B 

Form of Commencement Agreement 

COMMENCEMENT AGREEMENT 

THIS COMMENCEMENT AGREEMENT (this “Agreement”), made and entered into as of this 3rd day of October     , 2014, is by and between ASPEN DEVELOPMENT OF COOL SPRINGS, LLC, a Tennessee limited liability company, (“Landlord”), and FRANKLIN SYNERGY BANK, a Tennessee banking corporation (“Tenant”). 

A.    Tenant and Landlord entered into that certain Triple Net Office Lease Agreement dated October 2, 2014 (the “Lease”), for certain improved real property municipally known as 3359 Aspen Grove Drive; Suite 100 located in Franklin, Williamson County, Tennessee, consisting of approximately 4,675 rentable square feet, being more particularly described in the Lease; and 

B.    The parties desire to precisely establish the Commencement Date as set forth below. 

NOW, THEREFORE, in consideration of the mutual and reciprocal promises herein contained, and pursuant to Section 2 of the Lease, Tenant and Landlord hereby agree that the Lease is hereby modified as follows: 

1.    The term of the Lease by and between Landlord and Tenant actually commenced on October 17, 2014 (the “Commencement Date”). 

2.    Except as modified and amended by this Agreement, the Lease shall remain in full force and effect. 

[Signature page follows.] 

17

 

IN WITNESS WHEREOF. Landlord and Tenant have caused this Agreement to be duly executed, as of the day and year first above written. 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
LANDLORD:
	
  
	
TENANT:

	
 
	
 

	
ASPEN DEVELOPMENT OF COOL SPRINGS, LLC
	
  
	
FRANKLIN SYNERGY BANK

	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Henry W. Brockman Jr.
	
  
	
By:
	
 
	
/s/ Sally Kimble

	
Title:
	
 
	
Managing Partner
	
  
	
Title:
	
 
	
EVP/CAO

18

 

EXHIBIT C 

Landlord’s Work and Tenant Improvement Allowance 

Landlord’s Work 

Before the Commencement Date, Landlord shall complete on the Premises construction of the one-story, warm “white box” building shown on the plans and drawings attached hereto as Exhibit C-l, consisting of approximately 4,675 square feet and shall include base electrical, plumbing, and mechanical systems (the “Landlord’s Work”). Landlord anticipates that Landlord’s Work shall be complete by October 1, 2014, but Landlord does not guarantee this anticipated completion date and Tenant represents and warrants that it is not relying on this anticipated completion date. Notwithstanding the foregoing, if Landlord’s Work is not complete by December 1, 2014, Tenant shall have a continuing right to terminate this Lease upon written notice to Landlord, in which event neither party shall have any further obligation to the other hereunder. 

Landlord warrants to Tenant that Landlord’s Work shall be completed (i) in a good and workmanlike manner and (ii) in accordance with the requirements of all applicable laws, codes and ordinances of governmental authorities having jurisdiction over the Premises. Landlord further hereby assigns to Tenant all third-party warranties granted to Landlord in connection with Landlord’s Work. 

Tenant Improvement Allowance 

Following completion of Landlord’s Work and delivery of the Premises to Tenant, Landlord shall provide Tenant with an improvement allowance (the “Tenant Improvement Allowance”) of $30 per square foot of the building constructed under Landlord’s Work. The Tenant Improvement Allowance shall be payable to Tenant no earlier than the Commencement Date. 

19

 

EXHIBIT C-1 

Building Plans and Drawings 

[See attached.] 

20FOR VALIDATION PURPOSES ONLY - [657001.EX10_44]

 Exhibit 10.44 

LEASE AGREEMENT 
 (Triple
Net) 
 THIS TRIPLE NET LEASE AGREEMENT (the “Lease”), dated this 29th day of March, 2016, is made and entered into by the City of
Murfreesboro, a Tennessee municipal corporation (the “City”), and Franklin Synergy Bank, a Tennessee state banking corporation (the “Tenant”). 

RECITALS 
 A. Pursuant to
a Purchase and Sale Agreement dated contemporaneous with the Lease, Tenant has sold the Premises (as defined below) to the City. 
 B. Tenant desires to
lease back the Premises from the City for a period of time. 
 C. The City desires to lease the Premises to Tenant for the period and under the terms
stated. 
 AGREEMENT 

In consideration of the mutual promises and representations set forth in this Lease, the City and Tenant agree as follows: 

 

	1.	 Premises and Common Areas 

 

	 	1.1	 Leased Premises. The City leases to Tenant and Tenant leases from the City the following (the
“Premises”): 

 Approximately 1.87 acres designated by the Rutherford County Assessor as Parcels 8 and 9 of Map
91, Group G, including all Buildings (as defined below) and parking facilities. 
  

	 	1.2	 Buildings. The Premises include all buildings located on the Premises, which are currently in use by
Tenant, which have the addresses: 

 Building 1: 1 East College Street 

Building 2: 123 E College Street. 
  

	2.	 Term. The City will let and Tenant will accept and rent the Premises in accordance with the terms of
this Lease from the date hereof (the “Commencement Date”) until June 30, 2017 (the “Expiration Date”), unless earlier terminated as set forth herein (the “Lease Term”). Tenant shall have the right to terminate this
Lease prior to the expiration of the Lease Term by written notice to Landlord delivered at least thirty (30) days prior to the termination date specified in such notice. 

 

	3.	 Rent 

  

	 	3.1	 Rent. Tenant must pay monthly rent in advance, without deduction, setoff, prior notice, or demand, to
the City on the first day of each month in the amount of $9,172 per month throughout the Lease Term beginning on the Commencement Date. The first and last month’s rent will be paid pro-rata based on the
number of days from the Commencement Date until the end of the first month or from the first day of the month to the Expiration Date. 

  

	 	3.2	 Assessments. Tenant must pay to the City, in addition to and simultaneously with any other amounts
payable to the City under this Lease, a sum equal to the aggregate of any municipal, county, state, or federal excise, sales, use, or transaction privilege taxes now or hereafter 

  
 1 

	 	
legally levied or imposed against, or on account of, any or all amounts payable under this Lease by Tenant or the receipt thereof by the City (except state, federal or any other income taxes,
gift taxes, inheritance taxes and estate taxes imposed or levied against the City). Tenant must pay, prior to delinquency, all taxes levied upon fixtures, furnishings, equipment, and personal property placed on the Premises by Tenant. If any or all
of Tenant’s fixtures, furnishings, equipment, or personal property is assessed and taxed with any assessments or taxes paid by the City, Tenant must reimburse the City for such taxes within 10 days after delivery to Tenant by the City of a
statement in writing setting forth the amount of such taxes applicable to the Tenant’s property. 

  

	 	3.3	 Independent Obligations. Tenant’s obligation to pay the Rent and Assessments are independent of any
other term, covenant, condition, or provision herein contained. 

  

	4.	 Payment of Rent 

 

	 	4.1	 Recipient. Tenant must pay Rent and all other charges herein specified to the City at the address set
forth herein or to another person and at another address as the City from time to time designates in writing. 

  

	 	4.2	 Late Charges. Rent or other charges payable by Tenant to the City under the terms of this Lease that are
not received within ten days after the date due (the “Delinquency Date”) will automatically (and without notice) incur a one-time late charge of 5% of the delinquent amount. 

 

	 	a.	 The parties acknowledge that this is a reasonable fee to compensate the City for its additional costs to
process delinquencies, and is not a penalty. 

  

	 	b.	 Further, any Rent or other charges payable by Tenant to the City and not paid prior to the Delinquency Date
will bear interest from the Delinquency Date at the “Delinquency Interest Rate.” 

  

	 	c.	 As used in this Lease, the term “Delinquency Interest Rate” means the lesser of (i) 4% points
over the interest rate publicly announced as prime rate from time to time by the federal reserve bank (if such term is no longer utilized, the interest rate utilized by banking institutions to replace the prime rate), or (ii) the maximum
interest rate allowed by law. 

  

	4.3	 Rights and Remedies. The City’s right to receive, and the receipt or acceptance thereof, late
charges or interest for delinquent amounts does not limit or restrict the City’s other rights and remedies. 

  

	 	a.	 The City’s acceptance of partial payments of amounts due, or payments without inclusion of late charges or
interest does not limit, restrict, or waive the City’s right to collect the full amounts due and all accrued late charges and interest; nor is any endorsement or statement on any check or on any letter accompanying any check or payment as Rent
an accord and satisfaction. 

  

	 	b.	 The City may accept such check or payment without prejudice to the City’s right to recover the balance of
any unpaid or owing Rent or to pursue any other remedy set forth in this Lease. 

  
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	 	c.	 Receipt of a check does not constitute payment unless the check is honored by the bank upon which it is drawn,
and late charges and interest will accrue from the original due date if a check is dishonored. 

  

	 	d.	 No receipt of money by the City from Tenant after the termination of this Lease, after the service of any
notice relating to the termination of this Lease, after the commencement of any suit, or after final judgment for possession of the Premises, reinstate, continue or extend the Lease Term or affect any such notice, demand, suit or judgment.

  

	5.	 Utilities 

  

	 	5.1	 Tenant must pay, prior to delinquency, all charges for gas, heating and cooling, electricity, power, telephone
service, trash removal, and all other services or utilities used in, upon, or about the Premises by Tenant or any of Tenant’s subtenants, licensees, or concessionaires during the Lease Term. 

 

	 	5.2	 Except to the extent of the City’s negligence or willful misconduct, the City is not liable for damages
nor will rent or other charges abate in the event of any failure or interruption of any utility or service supplied to the Premises or Building by a utility or municipality, and no such failure or interruption entitles Tenant to terminate this
Lease. 

  

	6.	 Condition of the Premises. Tenant accepts Premises “as is” and the City makes warranties with
respect to condition or use of the Premises. The parties acknowledge that the Buildings are intended to be demolished, thus Tenant is not required to surrender the Premises in any specific condition and may surrender the Premises “as is”
provided Tenant has not created any situation that would constitute a threat to public health or safety nor introduced any hazardous materials to the site during the Term. 

 

	7.	 Tenant Improvements and Alterations 

 

	 	7.1	 Term and Conditions. Tenant will undertake any alteration or modification of the Premises Tenant
believes necessary with the prior approval of the City as set forth below (the “Tenant Improvements”). 

  

	 	7.2	 Approval. Prior to commencing any work to the Premises that will exceed $10,000 or will affect the
structural elements of the Building, Tenant must first obtain the written consent of the City to the proposed work, by submitting to the City for the City’s approval: (i) complete plans and specifications for the proposed work (which
consent will not be unreasonably withheld); (ii) the name of the proposed architect and/or contractor(s) for such alterations and/or improvements; (iii) the materials to be used in connection with such alterations, including, without
limitation, paint, carpeting, wall or window coverings and the use of carpet glues and other chemicals for installation of such materials; and (iv) evidence of Tenant’s financial ability to complete the construction. 

 

	 	a.	 Submissions to the City must be made at least ten (10) days prior to the commencement of any such
construction in the Premises. 

  

	 	b.	 Following the completion of such Tenant Improvements, Tenant may place partitions and fixtures and may make
improvements and other alterations to the interior of the Premises at Tenant’s expense, but Tenant must never do any structural work or work that affects the structural integrity of the Building without the further written approval of the City.

  
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	 	c.	 Approval by the City under this provision does not obviate the requirements for permits prior to contraction or
for required inspections during the course of construction. 

  

	7.3	 City Supervision. The City may require that any Tenant Improvements be subject to the supervision of the
City or its designee and the City may require that the work be done by the City’s own employees, its construction contractors, or under the City’s direction, but at the expense of Tenant; and the City may, as a condition to consenting to
such work, require that Tenant provide financial security adequate in the City’s judgment so that the improvements or other alterations to the Premises will be completed in a good, workmanlike and lien free manner. 

 

	7.4	 Tenant’s Architect and Contractor 

 

	 	a.	 In the event the City consents to the use by Tenant of its own architect or contractor for the installation of
any such alterations or improvements, prior to the commencement of such work, Tenant must provide the City with evidence that Tenant’s architect or contractor has procured worker’s compensation, liability and property damage insurance
(naming the City as an additional insured) in a form and in an amount approved by the City, and evidence that Tenant’s architect or contractor has procured the necessary permits, certificates and approvals from the appropriate governmental
authorities. 

  

	 	b.	 Tenant acknowledges and agrees that any review by the City of Tenant’s plans and specifications or right
of approval exercised by the City with respect to Tenant’s architect or contractor is for the City’s benefit only and the City does, by virtue of such review or right of approval, make any representation, warranty or acknowledgment to
Tenant or to any other person or entity as to the adequacy of Tenant’s plans and specifications or as to the ability, capability or reputation of Tenant’s architect or contractor. 

 

	7.5	 Transfer of Ownership. All Tenant Improvements upon completion become the property of the City.

  

	8.	 Fixtures; Personal Property; and Surrender of Premises 

 

	 	8.1	 All fixtures and furniture remain the property of Tenant and may be removed by Tenant not later than ten
(10) days following the Expiration Date or the earlier termination of the Lease Term or Tenant’s right to possession. Tenant shall not be obligated to repair any damage to the Buildings caused by Tenant’s removal of such property.

  

	 	a.	 If Tenant fails to remove its personal property, trade fixtures, and moveable furniture within ten
(10) days following the Expiration Date or the earlier termination of the Lease Term or Tenant’s right to possession, the same will be deemed abandoned and become the property of the City. 

 

	 	b.	 Notwithstanding the foregoing, at any time during the Lease Term or thereafter the City may require Tenant to
remove any personal property placed in the Premises by Tenant or by others at Tenant’s direction or with Tenant’s actual or implied consent, if the same is dangerous, illegal, or actually or potentially an environmental hazard, and repair
any damage caused thereby. 

  
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	 	8.2	 Movements of Tenant’s property into or out of the Building and within the Building are entirely at the
risk and responsibility of Tenant and the City reserves the right to require permits before allowing any such property to be moved into or out of the Building. 

 

	9.	 Liens 

  

	 	9.1	 Tenant must keep the Premises, the Building and the Land free from any liens arising out of work performed,
material furnished, or obligations incurred due to Tenant’s actions, the actions of Tenant’s Permittees or contractors, or the failure of Tenant to comply with any law excluding, however, security interests in Tenant’s personal
property. 

  

	 	9.2	 In the event any such lien does attach against the Premises, Building, or Land, and Tenant does not discharge
the lien or post bond (which under law would prevent foreclosure or execution under the lien) within 10 business days after demand by the City, such event will be a default by Tenant under this Lease and, in addition to the City’s other rights
and remedies, the City may take any action necessary to discharge the lien. 

  

	 	9.3	 Tenant must pay the City upon demand all costs or expenses (including reasonable attorney’s fees and
costs, whether or not suit be instituted) incurred by the City by reason of attachment or discharge of such lien and indemnify, defend and hold the City harmless for, from and against any and all liability, claims, or losses arising out of
attachment of such lien. 

  

	10.	 Use of Premises; Rules and Regulations 

 

	 	10.1	 Designated Use. Tenant may use and occupy the Premises for retail banking, lending, and attendant
services. 

  

	 	10.2	 Requirements. Tenant agrees to: 

 

	 	a.	 Comply with all statutes, ordinances, rules, regulations, and orders of all municipal, state, and federal
authorities now in force or which may hereafter be in force to the extent applicable to Tenant’s particular manner of use of the Premises, and to not use or permit the Premises to be used in whole or in part for any purpose or use in violation
of any of said laws, ordinances, rules and regulations; 

  

	 	b.	 Keep the Premises in a neat, sanitary, and orderly condition, free of debris, and not deposit or allow its
permittees to deposit trash, waste, or debris within Common Areas except within designated areas; provided that upon termination of the Lease, Tenant shall not be obligated to clean the Premises (except for the removal of any Hazardous Materials
brought into the Premises by Tenant or its permittees); 

  

	 	c.	 Not engage, or allow its permittees to engage, in any activity that has the likelihood of causing a
cancellation of any insurance policy or permit to remain in or about any such area any item that may be prohibited by standard form fire insurance policies; 

  

	 	d.	 Not use, or allow its permittees to use, the Premises or Buildings for any offensive, noisy, or dangerous
trade, business, or occupation, or anything against public policy, or interfere with the business of or disturb the quiet enjoyment of any other tenant in the Building or Land; 

  
 5 

	 	e.	 Not use, or allow its permittees to use, the exterior of the roof or walls of the Premises or the Building for
any purpose; 

  

	 	f.	 Not display anything in any windows without prior written consent of the City; 

 

	 	g.	 Not use, generate, manufacture, transport to or from, store, or dispose of, in, under, or about the Premises,
the Building, or the Land any Hazardous Materials. For purposes of this Lease, “Hazardous Materials” includes, but is not limited to: (i) flammable, explosive, or radioactive materials, hazardous wastes, toxic substances, or related
materials; (ii) all substances defined as “hazardous substances,” “hazardous materials,” “toxic substances,” or “hazardous chemical substances or mixtures” in the Comprehensive Environmental Response
Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601, et seq., as amended by Superfund Amendments and Reauthorization Act of 1986; the Hazardous Materials Transportation Act, 49 U.S.C. § 1901, et seq.; the Resource
Conservation and Recovery Act, 42 U.S.C. § 6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq.; (iii) those substances listed as hazardous substances in the United States Department of Transportation Table (49 CFR
172. 10 and amendments thereto) or by the Environmental Protection Agency (or any successor agent) (40 CFR Part 302 and amendments thereto); and (iv) any material, waste, or substance which is (A) petroleum, (B) asbestos,
(C) polychlorinated biphenyls, (D) designated as a “hazardous substance” pursuant to § 311 of the Clean Water Act, 33 U.S.C. § 1251 et seq. (33 U.S.C. § 1321) or listed pursuant to the Clean Water Act (33 U.S.C.
§ 1317). 

  

	 	10.3	 Indemnification. Except when caused or contributed to (whether directly or indirectly) by the
acts, omissions or negligence of the City or its agents, contractors, subcontractors, employees or invitees, Tenant is solely responsible for, and must indemnify, defend and hold harmless the City, its elected officials, directors, officers,
employees, agents, successors, and assigns for, from and against, any loss, damage, cost, expense, or liability directly or indirectly arising out of or attributable to Tenant’s and Tenant’s Permittees use, generation, storage, release,
threatened release, discharge, disposal, or presence of Hazardous Materials on, under, or about the Premises, the Building or the Land, including without limitation: (i) all foreseeable consequential damages; (ii) the costs of any required
or necessary repairs, cleanup or detoxification of the Premises, the Building, or the Land, and the preparation and implementation of any closure, remedial, or other required plans; and (iii) all reasonable costs and expenses incurred by the
City in connection with clauses (i) and (ii) of this section, including but not limited to reasonable attorneys’ fees. Notwithstanding the foregoing, Tenant may use in the Premises those Hazardous Materials that arc customarily used for
general office purposes (i.e., copier toner, liquid paper, glue, ink, and the City approved cleaning solvents) 

  

	 	10.4	 Survival. Tenant’s obligations hereunder survive the termination or earlier expiration of this
Lease. 

  

	11.	 Signs. With the exception of existing signage, Tenant may not erect or place any sign, lettering,
design, banner, decoration, exterior lighting or other advertising device or material either outside the Premise, or inside the Premises if visible from outside the Premises, without the prior written approval of the City. Any signs of Tenant not in
conformity with this Lease and any signs remaining at the end of the Lease Term must, upon the City’s demand, be immediately removed by Tenant at its expense, and Tenant must promptly repair any damage to the Premises resulting from such
removal. 

  
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	12.	 Quiet Enjoyment. The City agrees that, upon Tenant’s paying Rent and other charges, and keeping and
performing all of the terms, conditions, covenants, and provisions of this Lease, the City will do nothing that will prevent Tenant from peaceably and quietly enjoying, holding, and occupying the Premises during the Lease Term. This covenant does
not extend to any disturbance, act, or condition brought about by any other tenant or occupant in the Building and is subject to the rights of the City set forth in this Lease. 

 

	13.	 Maintenance and Repair 

 

	 	13.1	 City’s Obligation. The City has no obligation to repair, maintain, alter, remodel, improve,
renovate, decorate, or paint the Premises at any time during the Lease Term. Tenant waives all rights to make repairs at the expense of the City. 

  

	 	13.2	 Tenant’s Obligations. Tenant must perform all maintenance or make all repairs necessary to assure
that the Premises meet the needs of Tenant to continue operations in the Premise. Tenant’s obligation to pay rent is separate from the condition or available use of the Premises and Tenant hereby waives all claims against the City or setoff of
rent related in any way to the condition of the Premises. 

  

	14.	 Entry and Inspection 

 

	 	14.1	 Upon no less than 24 hours’ prior written notice, the City and the City’s agents will have the right
to enter into and upon the Premises at all reasonable times for the purpose of inspecting the same; posting notices of non-liability for alterations, additions, or repairs, or of the availability of the
Premises for lease or sale; or showing the Premises to potential tenants or purchasers. 

  

	 	14.2	 The City actions under this section will create no claim of actual or constructive eviction, abatement of rent,
and will create no liability on the part of the City for any claim related to the loss of occupation or quiet enjoyment of the Premises, except to the extent of the City’s negligence or willful misconduct. 

 

	15.	 Insurance and Indemnification of City 

 

	 	15.1	 Tenant’s Required Insurance. Tenant will maintain in full force and effect during the entire term
of this Lease, at its own cost and expense, the following policies of insurance: 

  

	 	a.	 Commercial General Liability Insurance and Umbrella Liability Insurance in an amount not less than $1,000,000
each occurrence and $2,000,000 aggregate. This policy will provide coverage for bodily injury, property damage, advertising, personal injury, premises, operations, independent contractors, products completed operations, fire legal, and liability
assumed under an insured contract both oral and written. 

  

	 	b.	 Commercial Automobile Insurance and Umbrella Liability Insurance in an amount equal to that currently
maintained by Tenant, but not less than $1,000,000 per accident. Such insurance will cover liability arising out of any auto (including owned, hired and non-owned autos) used in connection with Tenant’s
use of the Premises. 

  
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	 	c.	 Workers’ Compensation Insurance and Employers’ Liability Insurance as required by law and in full
compliance with the provisions of the Tennessee Worker’s Compensation Law as amended, and Employer’s Liability Insurance in an amount not less than $500,000. 

 

	 	d.	 Commercial Property Insurance covering the Premises including fixtures, inventory, equipment, Tenant
improvements and betterments and all other content of the Premises and (if any, such as installed by or for Tenant) all mechanical, plumbing, heating, ventilating, air conditioning, and electrical. The policy must include coverage for the following:
vandalism, malicious mischief, sprinkler leakage. Such insurance will provide for 100% of the full replacement cost. Any coinsurance requirement in the policy will be eliminated through the attachment of an agreed amount endorsement, or as is
otherwise appropriate under the particular policy form. The proceeds of such insurance, so long as this Lease remains in effect, will be used to repair and/or replace the Premises, and the Leasehold Improvements, fixtures, glass, equipment,
mechanical, plumbing, heating, ventilating, air conditioning, electrical, telecommunication and other equipment, systems and facilities so insured. 

  

	 	e.	 Any other forms of insurance the City may reasonably require from time to time, in form and amounts and for
insurance risks against which a prudent Tenant of comparable size in a comparable business would protect itself. 

  

	 	15.2	 Review of Insurance. Intentionally Omitted. 

 

	 	15.3	 Waiver of Subrogation. The City and Tenant and all parties claiming under them mutually release and
discharge each other from all claims and liabilities arising from or covered by insurance required to be maintained, respectively, by the parties under this Lease, regardless of the cause of the damage or loss. Each party must secure from its
insurer proof that its respective insurer honors this provision. 

  

	 	15.4	 Form of Insurance. All insurance required to be carried by Tenant hereunder must: (i) be issued by
insurance carriers authorized to conduct business in the State of Tennessee and with an A.M. Best’s guide rating of no less than A; (ii) be written as primary insurance and non-contributory over any
insurance purchased by the City; (iii) contain a provision whereby each insurer agrees to give the City at least 30-day prior written notice of any cancellation; (iv) be written on an Occurrence
basis; any policies underwritten as claims-made basis will not satisfy the insurance requirements outlined above; (v) not be modified to reduce the extent of coverage or limits required herein without prior written notice to the City;
(vi) with respect to Commercial General Liability, Commercial Automobile Liability and Umbrella Liability policies, ensure that the City be added by endorsement as additional insureds to the policies; (vii) provide evidence of Commercial
Property Insurance and of all other insurance as well as certificates and appropriate endorsements to the City five days prior to occupancy, and evidence of renewal will be provided to the City no less than fifteen business days prior to expiration.

  

	 	15.5	 Failure to Maintain, Failure to Provide. If Tenant fails to acquire and maintain the insurance required
pursuant to this section, the City may but is not obligated to, and in addition to any other rights and remedies available to the City, acquire such insurance and pay the requisite premiums, which premiums will be payable by Tenant to the City
immediately upon demand. The City’s failure, at any time, to object to Tenant’s failure to provide the specified insurance or written evidence thereof (either as to the type or amount of such insurance) will not be deemed a waiver of
Tenant’s obligations under this section. 

  
 8 

	 	15.6	 Blanket Insurance. Tenant may, at its option, satisfy its insurance obligations hereunder by obtaining
insurance commonly known as blanket insurance coverage, provided that the same will, in all respects, comply with the provision hereof; and, in such event, Tenant will not have complied with its obligation hereunder until Tenant obtains and delivers
to the City a certificate of insurance with appropriate endorsements, or upon the City’s request, a copy of the required policy with appropriate endorsement. 

 

	16.	 Indemnification and Waiver 

 

	 	16.1	 Except to the extent of the City’s negligence or willful misconduct, Tenant will indemnify, defend and
hold the City harmless from and against any and all claims, suits, actions, proceedings, liability, damages, costs or expenses, including reasonable attorneys’ and experts’ fees and court costs arising (i) from any act, omission, or
negligence of Tenant or its officers, contractors, licensees, agents, employees, guests, invitees, or visitors in or about the Premises, (ii) from Tenant’s particular use, maintenance, and repair of the Premises; (iii) from any breach
or default under this Lease by Tenant, or (iv) from or relating to the enforcement by the City of the provision of this Lease as against Tenant. 

  

	 	16.2	 Except when caused or contributed to (whether directly or indirectly) by the acts, omissions or negligence of
Tenant, its agents, contractors, subcontractors, employees or invitees, the City will indemnify, protect and hold Tenant harmless within the limitation of the City’s liability under Tennessee law, for, from and against any liens, damages,
losses, or liability claims or expenses (including reasonable attorneys’ fees) which result from any activities of the City, its agents, employees, or invitees on the Premises or which arise out of any breach of the City’s obligations,
warranties and representations to Tenant as contained in this Lease. 

  

	 	16.3	 The provisions of this section will survive the expiration or termination of this Lease. 

 

	17.	 City’s Insurance. As secondary to Tenant’s required insurance, the City will maintain, at its
discretion, a self-insured retention or comprehensive general public liability insurance against claims for personal injury, death, or property damage occurring on the Common Areas, fire and extended coverage (all risk) insurance on the Building and
Parking Garage, and such other insurance as the City deems reasonably necessary. 

  

	18.	 Damage and Destruction of Premises 

 

	 	18.1	 Obligation to Repair. In the event of (i) fire or other casualty damage to the Premises or the
Building during the Lease Term which requires repairs to either the Premises or the Building, or (ii) the Premises or Building being declared unsafe or unfit for occupancy by any authorized public authority for any reason, which declaration
requires repairs to either the Premises or the Building, this Lease will terminate. 

  

	 	18.2	 Waiver of Cancellation. With respect to any destruction (including any destruction necessary in order to
make repairs) which the City is obligated to repair or may elect to repair under the terms of this section, Tenant waives any statutory right Tenant may have to cancel this Lease as a result of such destruction and no such destruction will annul or
void this Lease and the provisions of this section supersede the City’s obligations under this Agreement to make repairs. 

  
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	 	18.3	 Restoration of Rent. Unless the Lease is terminated under this section, upon substantial completion of
the City’s restoration obligations, the Base Rent will be restored to the amounts that would have been in effect but for the damage or destruction. 

  

	19.	 Eminent Domain. The City, as a municipal corporation and owner of the Building and Premises, and in
addition to any remedy provided for in this Lease, hereby reserves its powers under eminent domain as they might relate to any of the property interests granted Tenant herein. 

 

	20.	 Assignment and Subletting 

 

	 	20.1	 City Approval. Tenant may not to transfer or assign this Lease, or any interest therein, and will not
sublet the Premises or any part thereof, or any right or privilege appurtenant thereto, without the City’s prior written consent, which will not be unreasonably withheld. 

 

	 	20.2	 Assignments Defined. For the purposes of this section, the City’s consent will not be required for
Tenant to assign or sublet all or any portion of this Lease or the Premises to an affiliate, parent, or subsidiary, or to any successor by merger, acquisition or consolidation. 

 

	 	20.3	 Additional Documents. If the City consents to an assignment, sublease or other transfer by Tenant of all
or any portion of Tenant’s interest under this Lease, Tenant will execute and deliver to the City, and cause the transferee to execute and deliver to the City, an instrument in the form and substance acceptable to the City in which:
(i) the transferee adopts this Lease and assumes and agrees to Perform, jointly and severally with Tenant, all of the obligations of Tenant hereunder, (ii) Tenant acknowledges that it remains primarily liable for the payment of Rent and
other obligations under this Lease, and (iii) the transferee agrees to use and occupy the Premises solely for the purposes specified herein and otherwise in strict accordance with this Lease. 

 

	 	20.4	 Non-merger. The voluntary or other surrender of this Lease by
Tenant, or a mutual cancellation thereof, will not work a merger, and will, at the option of the City, terminate all or any existing subleases, or may, at the option of the City, operate as an assignment to the City of any or all such subleases.

  

	21.	 Sale of Premises. In the event of any sale of the Building or the Land or any assignment of this Lease
by the City (or a successor in title), if the assignee or purchaser assumes the obligations of the City herein in writing, the City (or such successor) will automatically be entirely freed and relieved of all liability under any and all of the
City’s covenants and obligations contained in or derived from this Lease or arising out of any act, occurrence, or omission occurring after such sale or assignment; and the assignee or purchaser will be deemed, without any further agreement
between the parties, to have assumed and agreed to carry out any and all of the covenants and obligations of the City under this Lease, and will be substituted as the City for all purposes from and after the sale or assignment.

  

	22.	 Subordination; Recognition and Attornment 

 

	 	22.1	 Subordination. Tenant’s interest under this Lease is subordinate to all terms of, and all liens and
interests arising under, any deed of trust, or mortgage or bond covenants now or hereafter placed on the City’s interest in the Premises, the Building, or the Land; provided that the holder of such indebtedness enters into a subordination,
nondisturbance and attornment agreement with Tenant that is acceptable to Tenant, in its reasonable discretion.. 

  

	 	22.2	 Required Amendments. Tenant agrees to reasonable amendments to this Lease as may be required by a
lender, bond trustee, or agent who proposes to fund construction or permanent financing provided the amendment does not increase Tenant’s monetary obligations under this Lease. 

  
 10 

	 	22.3	 Assignment for Financing. Tenant further consents to an assignment of the City’s interest in this
Lease to the City’s lender as required under such financing. 

  

	 	22.4	 Further Documents. This section is self-operative; however, Tenant agrees to execute and deliver, if the
City or any mortgagee, bonding agent, purchaser, or ground lessor should so request, such further instruments necessary to subordinate this Lease to a lien of any mortgage, deed of trust, or ground lease to acknowledge the consent to assignment and
to affirm the attornment provisions set forth herein. 

  

	23.	 City’s Default and Right to Cure 

 

	 	23.1	 Notice of Claim of Default. In the event of breach, default, or noncompliance hereunder by the City,
Tenant must, before exercising any right or remedy available to it, to give the City written notice of the claimed breach, default, or noncompliance which sets forth facts in sufficient detail for the City to assess and evaluate such claim.

  

	 	23.2	 Additional Notices. If prior to giving notice Tenant has been notified in writing (by way of Notice of
Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished financing that is secured by realty mortgage or deed of trust on the Premises or the Building or of a ground lessor, concurrently with giving the notice to
the City, Tenant agrees to also give notice by certified or registered mail to such lender and/or ground lessor. 

  

	 	23.3	 City’s Right to Cure. For the 30 days following such notice (or such longer period of time as may
be reasonably required to cure a matter which, due to its nature, cannot reasonably be remedied within 30 days), the City will have the right to cure the breach, default, or noncompliance involved. If the City has failed to cure a default within
said period, any such lender and/or ground lessor will have an additional 30 days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary if within such 30-day period said lender and/or ground lessor has commenced and is diligently pursuing the actions or remedies necessary to cure the breach, default, or noncompliance involved (including, but not limited to,
commencement and prosecution of proceedings to foreclosure or otherwise exercise its rights under its mortgage or other security instrument or ground lease, if necessary to effect such cure), in which event this Lease will not be terminated by
Tenant so long as such actions or remedies are being diligently pursued by said lender and/or ground lessor. 

  

	24.	 Estoppel Certificates 

 

	 	24.1	 Tenant agrees at any time and upon request by the City, to execute, acknowledge, and deliver to the City within
15 calendar days of demand by the City a statement in writing certifying: (i) Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating such
modifications); (ii) Dates to which Rent and other charges have been paid in advance, if any; (iii) Tenant’s acceptance and possession of the Premises; (iv) Commencement and Expiration Dates; (v) Base Rent provided under the
Lease; (vi) the City is not in default under this Lease (or if Tenant claims such default, the nature thereof); (vii) Tenant claims no offsets against the Rent, and (viii) Such other information as may be requested with respect to the
provisions of this Lease or the tenancy created by this Lease. 

  
 11 

	 	24.2	 Tenant acknowledges that any such statement delivered pursuant to this section may be relied upon by third
parties with regard to the sale or financing of the Premises or the Building. 

  

	25.	 Tenant’s Default and City’s Remedies 

 

	 	25.1	 Events of Default. Any of the following individually or in combination will constitute a default by
Tenant under this Lease (“Event of Default”): 

  

	 	a.	 Tenant’s failure to pay any amount due and payable hereunder within 10 days after written notice of
failure to pay on its due date has been received by Tenant; 

  

	 	b.	 Tenant’s failure to perform any other covenants or obligations to be performed by Tenant under this Lease
and such failure will continue for 30 days after notice thereof from the City to Tenant, or such longer period of time as may reasonably be required to cure a matter which due to its nature cannot reasonably be cured within 30 days:

  

	 	c.	 A petition or proceeding under the Federal Bankruptcy Act or any other applicable state or federal law relating
to bankruptcy or reorganization or other relief for debtors is filed or commenced by or against Tenant and, if against Tenant, said proceedings will not be dismissed within 10 days following commencement thereof; 

 

	 	d.	 Tenant is adjudged insolvent, makes an assignment for the benefit of its creditors or enters into an
arrangement with its creditors; 

  

	 	e.	 A writ of attachment or execution is levied on the leasehold estate hereby created and is not released or
satisfied within 10 days thereafter; or 

  

	 	f.	 A receiver is appointed in any proceeding or action to which Tenant is a party with authority to take
possession or control of the Premises or the business conducted thereon by Tenant and such receiver is not discharged within a period of ten (10) days after his appointment; or 

 

	 	g.	 Tenant abandons the Premises (abandonment will be presumed if the Premises are not occupied by at least two
employees of Tenant four days a week, six hours a day). 

  

	 	25.2	 City Rights. Upon the occurrence of an Event of Default, the City will have the right and option to:

  

	 	a.	 Prosecute and maintain an action or actions, as often as the City deems advisable, for collection of Rent,
other charges, and damages as the same accrue, without entering into possession and without terminating this Lease; however, and judgment obtained will constitute a merger or otherwise bar prosecution of subsequent actions for Rent, other charges,
and damages as they accrue. 

  

	 	b.	 Immediately or at any time thereafter reenter and take possession of the Premises and remove Tenant or
Tenant’s Permittees and any or all of their property from the Premises. Reentry and removal may be effected by summary proceedings or any other action or proceedings at law, by force or otherwise. No action taken, commenced, or prosecuted by
the City, no execution on any judgment and no act or 

  
 12 

	 	
forbearance on the part of the City in taking or accepting possession of the Premises will be construed as an election to terminate this Lease unless the City expressly exercises this option.
Upon taking possession of the Premises, the City will without termination of this Lease, exercise commercially reasonable efforts to relet the Premises or any part thereof as agent for Tenant for such rental terms and conditions (which may be for a
term extending beyond the Lease Term) as the City, in its reasonable discretion, may deem advisable, with the right to make alterations and repairs to said Premises required for reletting. The rents received by the City from such reletting will be
applied first to the payment of any costs of reletting, second to the payment of Rent and other charges due and unpaid hereunder, and then any residue amounts will be held by the City and applied in payment of future Rent and other charges as the
same may become due and payable hereunder. If the rents received from such reletting during any month are insufficient to reimburse the City for any costs of reletting or Rent and other charges due and payable hereunder, Tenant will pay any
deficiency to the City, with the deficiency calculated and paid monthly. Notwithstanding any such reletting without termination, the City may at any time thereafter elect to terminate this Lease for such previous breach. 

 

	 	c.	 Elect to terminate this Lease by written notice to Tenant. In the event of such termination, Tenant will
immediately surrender possession of the Premises. If Tenant fails or refuses to surrender the Premises, the City may take possession thereof. Should the City terminate this Lease, Tenant will have no further interest in this Lease or in the
Premises, and the City may recover from Tenant all damages it may incur by reason of Tenant’s default, including the cost of reletting the Premises, and the value at the time of such termination of the excess, if any, of the amount of Rent and
charges equivalent to rent reserved in this Lease for the remainder of the Lease Term over the then reasonable rental value of the Premises for the remainder of the Lease Term, all of which amounts will be immediately due and payable at the
City’s election from Tenant to the City. 

  

	 	25.3	 Non-Surrender;
Non-Termination. No act or conduct of the City, whether consisting of reentry, taking possession, or reletting the Premises or accepting the keys to the Premises, or otherwise, prior to the expiration of
the Lease Term will be or constitute an acceptance of the surrender of the Premises by the City or an election to terminate this Lease unless the City exercises its option to do so and such acceptance or election by the City will only be effected,
and must be evidenced, by written acknowledgement of acceptance of surrender or notice of election to terminate signed by the City. 

  

	 	25.4	 City’s Self-help. In the event Tenant is due to render performance in accordance with any term,
condition, covenant, or provision of this Lease and Tenant fails to render that performance within 10 days after written notification from the City that the performance is past due, in accordance with the notice provision hereof or immediately if
required for protection of the Premises, the City will have the right, but not the obligation, to render such performance and to charge all costs and expense incurred in connection therewith to Tenant. All amounts so charged together with interest
thereon at the Delinquency Interest Rate will be considered Additional Rent and will be due and payable immediately to The City within 10 business days after presentation of a statement to Tenant indicating the amount and nature of such cost or
expense. This right is in addition to all of the City’s other rights and remedies. 

  
 13 

	 	25.5	 Non-exclusivity. No remedy herein conferred upon the City will
be considered exclusive of any other remedy, but the same will be cumulative and will be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The City may exercise its remedies in any
order or combination selected by the City in its sole discretion. No delay or omission of the City to exercise any right or power arising from any default will impair any such right or power, or will be construed to be a waiver of any such default
or acquiescence therein. 

  

	26.	 City’s Default. Notwithstanding anything in this Lease to the contrary, Tenant agrees to look
solely to the estate and property of the City in the Land and the Building (including all rent, profits and proceeds therefrom), subject to prior rights of any mortgagee of the Land and Building or any bond convent incorporating mention of the Land
or Building, or any part thereof either, for the collection of any judgment (or other Judicial process) requiring the payment of money by the City in the event of any default or breach by the City under this Lease. Tenant agrees that it is
prohibited from using any other procedures for the satisfaction of Tenants’ remedies. Neither the City nor any of its elected officials, officers, directors, employees, heirs, successors, or assigns, will have any personal liability of any kind
or nature, directly or indirectly, under or in connection with this Lease. 

  

	27.	 Notices. Wherever in this Lease it is required or permitted that notice or demand be given or served by
either party to or on the other, such notice or demand will be in writing and will be given or served and will not duly given or served unless it is in writing and either (i) delivered personally, (ii) deposited with the United States
Postal Service, as registered or certified mail, return receipt requested, bearing adequate postage, or (iii) sent by overnight express courier (including, without limitation, Federal Express, DHL Worldwide Express, Airborne Express, United
States Postal Service Express Mail) with a request that the addressee sign a receipt evidencing delivery; and addressed to the party as listed below: 

  

			
	If to the City:	    	City Manager
		    	City of Murfreesboro
		    	111 West Vine Street
		    	Murfreesboro, TN 37129
		
	 with a copy to:
	    	City Attorney
		    	City of Murfreesboro
		    	111 West Vine Street
		    	Murfreesboro, TN 37129
		
	If to Tenant:	    	Franklin Synergy
		    	722 Columbia Avenue
		    	Franklin, TN 37064
		    	Attention: Sally Kimble, EVP and CFO

 Either party may change such address by written notice to the other. Service of any notice or demand will be
deemed completed 48 hours after deposit thereof, if deposited with the United States Postal Service, or upon receipt if delivered by overnight courier or in person. 

  
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	28.	 Broker’s Commissions. Each party represents and warrants to the other that it has not engaged any
party to act as a real estate agent or real estate broker in any manner with respect to the Tenant’s lease of the Premises and that no person is due any brokerage commissions or finder’s fees in connection with this Lease. Each party will
indemnify, defend and hold the other harmless for, from and against all liabilities arising from any such claims, including any attorneys’ fees incurred by reason of the breach of the foregoing representation. 

 

	29.	 General Provisions 

 

	 	29.1	 This Lease is construed in accordance with the laws of the State of Tennessee, and venue for resolution of any
dispute arising under this Lease lies exclusively in Rutherford County, Tennessee. 

  

	 	29.2	 If any term, condition, covenant, or provision of this Lease is held by a court of competent jurisdiction to be
invalid, void, or unenforceable, the remainder of the terms, conditions, covenants, and provisions hereof will remain in full force and effect and will in no way be affected, impaired, or invalidated. 

 

	 	29.3	 Time is of the essence of this Lease. 

 

	 	29.4	 In the event either party initiates legal proceedings (including arbitration or alternative dispute resolution)
or retains an attorney to enforce any right or obligation under this Lease or to obtain relief for the breach of any covenant hereof, the party ultimately prevailing in such proceedings or the non-defaulting
party will be entitled to recover all costs and reasonable attorney fees, and in the event of legal proceedings the same will be determined by the court and not by a jury and will be included in any judgment or award obtained. 

 

	 	29.5	 If the City is involuntarily made a party defendant to any litigation concerning this Lease or the Premises by
reason of any act or omission of Tenant, Tenant will indemnify, defend and hold the City harmless for, from and against all liability by reason thereof, including the City’s reasonable costs and attorney fees. 

 

	 	29.6	 This Lease sets forth all the terms, conditions, covenants, provisions, promises, agreements, and undertakings,
either oral or written, between the City and Tenant. 

  

	 	29.7	 No subsequent alteration, amendment, change, or addition to this Lease is binding upon the City or Tenant
unless reduced to writing and signed by both parties. 

  

	 	29.8	 Subject to the Assignment and Subletting section, the covenants herein contained will apply to and bind the
heirs, successors, executors, personal representatives, legal representatives, administrators, and assigns of all the parties hereto. 

  

	 	29.9	 No term, condition, covenant, or provision of this Lease will be waived except by written waiver of the City,
and the forbearance or indulgence by the City in any regard whatsoever will not constitute a waiver of the term, condition, covenant, or provision to be performed by Tenant to which the same will apply. Until complete performance by Tenant of such
term, condition, covenant, or provision, the City will be entitled to invoke any remedy available under this Lease or by law despite such forbearance or indulgence. The waiver by the City of any breach or term, condition, covenant, or provision
hereof will apply to and be limited to the specific instance involved and will not apply to any other instance or to any subsequent breach of the same or any other term, condition, covenant, or provision hereof. 

  
 15 

 Acceptance of Rent by the City during a period in which Tenant is in default in any respect
other than payment of Rent will not be a waiver of the other default. Any payment made in arrears will be credited to the oldest amount outstanding and no contrary application will waive this right. 

 

	 	29.10	 Every term, condition, covenant, and provision of this Lease, having been negotiated in detail and at length by
both parties, will be construed simply according to its fair meaning and not strictly for or against the City or Tenant. 

  

	 	29.11	 All obligations of Tenant hereunder not fully performed as of the expiration or earlier termination of this
Lease will survive the expiration or earlier termination of this Lease, including, without limitation, all payment obligations with respect to Rent and other charges, and all obligations concerning the condition of the Premises.

 [signatures appear on the following page] 

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

 

			
	TENANT:
	
	Franklin Synergy Bank
		
	By:	 	 /s/ Lee Moss

	Its:	 	 President

  

	
	CITY:
	
	City of Murfreesboro
	
	 /s/ Shane McFarland

	Shane McFarland, Mayor
	
	Approved as to form:
	
	 /s/ Craig D. Tindall

	Craig D. Tindall, City Attorney

  
 16

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