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Exhibit 10.16  

         

  

	

 	
 	

October 27, 2005	
 	

 

	Carrollton Mortgage Services, Inc.

2300 York Road, Suite 213

Timonium, MD 21093
	Attention:	 	Mr. Ronald Antrim

Vice President

Dear
Ron: 

        I
have enclosed two signed copies of the new lease for Suite 205 in the Square Commercial Center, which was to become effective on August 1, 2005. I apologize for the delay, but I
missed this renewal and then had a hard drive crash that further delayed me. On January 1, 2005, we adjusted our base rental rate to $11.85 per square foot per year. Therefore, we have adjusted
your monthly rent from $145.00 to $148.13. This is a 2.16% increase, and I have also enclosed an invoice for the adjustment of $3.13 per month in August, September and October. I have also enclosed
the latest utility bill and the invoice for November. 

        Please
review the lease, and, if acceptable, sign both copies, keep one for your records and return the other to us as soon as possible. If you have any questions, please let me know. 

        We
are looking forward to having you continue with us at the Square Commercial Center. 

	

 	
 	

Respectfully,
	

 	
 	

/s/ Donald L. Stabler
 Donald L. Stabler

Manager
	

Encls.	
 	

 

 
 

ARTICLE OF AGREEMENT    
    

        MADE this 26th day of October A.D. 2005 

	 	 	BETWEEN Arthur Lea Stabler and Helen H. Stabler, His Wife
	 	 	 	Square Commercial Center

1 Center Square, Suite 201

Hanover, Pennsylvania 17331-3001

hereinafter styled the Lessor, and 

	 	 	 	Carrollton Mortgage Services, Inc.

Square Commercial Center

1 Center Square, Suite 205

Hanover, PA 17331

hereinafter styled the Lessee. 

        WITNESSETH,
that the Lessor, in consideration of the rents and covenants hereinafter mentioned, doth demise and lease unto the Lessee to be used as an office, the premises situated in
the Borough of Hanover, County of York, and Commonwealth of Pennsylvania, described as follows: 

150
square feet of office space located on the Second Floor of the Square Commercial Center, 1 Center Square, Hanover, Pennsylvania 17331, noted as Suite 205. 

        TO
HAVE AND TO HOLD unto the Lessee, subject to the conditions of the agreement for the term beginning on the 1st day of August, 2005 and ending on the
31st day of July, 2006. 

        IN
CONSIDERATION OF WHICH the Lessee agrees to pay to the Lessor for the use and occupancy of the said premises, the sum of One Thousand Seven Hundred Seventy-Seven and 56/100 Dollars
($1,777.56) annually, payable as follows: One Hundred Forty-Eight and 13/100 Dollars ($148.13) per month on the first day of every month in advance, at the office of Lessor, Square Commercial Center,
1 Center Square, Suite 201, Hanover, Pennsylvania 17331. 

        AS
A FURTHER CONSIDERATION for the use and occupancy of said premises, the Lessee hereby agrees to faithfully keep and be bound by the following covenants, conditions and agreements: 

        The
said premises are to be kept and maintained in as good repair and condition as at present and at the expiration of this lease, they are to be surrendered in like repair and
condition, natural wear and damages happening by fire, storm or other casualties only excepted. 

        The
premises are to be kept in a clean and sanitary condition and all ashes or other garbage which may accumulate thereon during the term are to be removed, and in case of failure to
remove the same, the Lessor may collect as rent due and in arrears the cost of removal; the water, lighting or other service for the use of the occupants of the said premises furnished by any public
service company during the said term shall be paid for by the Lessee unless otherwise provided herein, or the same may be collected by the Lessor as rent due and in arrears. 

        Lessee
agrees to abide by and require Lessee's employees and clients to abide by the policy regarding smoking in the Square Commercial Center as instituted and/or modified by the Lessor.
Lessee agrees to supply chair mats under all chairs on rollers in order to protect the carpet from undo wear and tear. Lessee agrees to require Lessee's employees to use either local municipal lots or
off-street reserved parking spaces in order to ensure greater availability of prime parking spaces in front of the Square Commercial Center for their clients and the clients and customers of others. 

        Nothing
shall be done upon said premises contrary to the conditions of the policies of insurance upon the buildings thereon whereby the hazard may be increased or the insurance
invalidated; neither the whole nor any portion of the said premises shall be sublet, nor shall this lease or any interest therein be assigned, without the written consent of the Lessor; which shall
not be unreasonably withheld or delayed. 

 

        The
Lessor expressly reserves the right to enter upon the premises at reasonable times for the purpose of making necessary inspection or repairs, or to show the same to prospective
purchasers or lessees, and may display "For Rent" or "For Sale" cards thereon. 

        If
default shall be made in the payment of any part of the said rent after ten (10) days written notice of late payment, or in case of a breach or evasion or any attempt to break
or evade any of the covenants or conditions of this agreement, and such breach shall not be cured within thirty (30) days written notice from Lessor, the entire rent reserved for the full term
of this lease remaining unpaid shall become due and payable at once and may forthwith be collected, and at the same time the Lessor may forfeit and annul the unexpired portion of this lease and enter
upon and repossess the said premises with or without process of law, and without giving any notice whatsoever. 

        Lessee
also agrees to pay any costs (lawyers fees, court costs, collection fees, etc.) incurred by Lessor associated with the collection of payments of rent and/or other costs incurred
under this lease that are in default. In addition, interest may be added by Lessor to amounts outstanding beyond 30 days from date of bill or due date at a rate of
1-1/2% per month on the average daily balance (18% per year). 

        Acceptance
by the Lessor of any of the sand rent at any time after the same shall become due after default has been made in the payment thereof, or any failure to enforce any of the
rights herein reserved to the Lessor, or any of the conditions herein contained, shall not in any wise be considered a waiver of the right to enforce the same at any time without any notice
whatsoever, and any attempt to collect the rent by one proceeding shall not be considered as a waiver of the right to collect the same by any other proceeding, but all of the rights of the Lessor, and
all conditions may be enforced together or successively at the option of the Lessor. 

        Lessor
and Lessee, each hereby waives on behalf of itself, its agents, officers and employees, all causes and rights of recovery against the others, its or their agents, officers and
employees, as the case may
be, for any loss occurring to the building and improvements and the contents thereof located on the premises resulting from any of the perils insured against under the insurance policies carried on
the building, fixtures and improvements and the insurance carried on the contents of Lessee, regardless of cause or origin, to the extent of any recovery of such policy or policies of insurance. 

        AND
IT IS FURTHER AGREED that the following conditions, forfeitures, covenants and restrictions are a part of this agreement, and that each and all of them are binding upon the parties
hereto: 

	1.
	The
Lessee shall pay for all utilities. This pertains to the electric service to the individual office space, and the Lessee's share of the common utilities as determined in a
reasonable manner by the Lessor,

	2.
	The
Lessee also has the option to use the cleaning service available through the Lessor for daily maintenance of the premises at the current per square foot rate for the office
cleaning service (this will include the cost for twice annual carpet cleaning using a dry cleaning method). If the Lessee chooses to handle the general cleaning of premises internally, the Lessee will
be required to pay the cost to have the carpet in premises cleaned twice annually using the dry cleaning method provided by the cleaning service available through the Lessor (including labor and
materials). If Lessee chooses to handle the general cleaning of the premises internally, and fails to maintain the premises in a satisfactory manner, as determined by the Lessor, the Lessee will be
required to use the cleaning service available through the Lessor.

	3.
	This
lease may be extended for an additional one (1) year if notice is given by Lessee not less than thirty (30) days prior to the expiration date of this lease. All
conditions and covenants of this lease shall remain in force and effect during any extension hereof, except that annual rent 

2

 

shall
be negotiated by the parties at the time of the extension of the lease for the additional period. In the event that the Lessee chooses not to renew this lease, and notice is given less than
thirty (30) days prior to the expiration date of this lease, Lessee will be responsible for all rent and utilities covered in this lease through the last day of the month in which the
30-day notice period ends. 

        IN
WITNESS WHEREOF, the parties aforesaid have hereunto set their hands and seals on the day and year first above written. 

	 
	 	 

	/s/  DONALD L. STABLER      
 Witness	 	/s/  ARTHUR LEA STABLER      
 Arthur Lea Stabler
	

/s/  DONALD L. STABLER      
 Witness	
 	

/s/  HELEN H. STABLER      
 Helen H. Stabler
	

 	
 	

Carrollton Mortgage Services, Inc.
	

/s/  ARLENE COHEN      
 Witness	
 	

/s/  RONALD ANTRIM      
 Ronald Antrim, Vice President

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Exhibit 10.17  

 
 

COMMERCIAL LEASE OF HOUSE
  UNFURNISHED    
    

        BY THIS AGREEMENT made and entered into on June 11, 2004, between Mario J. Orlando
and Matthew J. Salafia, herein referred to as Lessor, and Carrollton Mortgage Services, herein referred to as Lessee, Lessor
leases to Lessee the premises situated at 8905 Harford Road, Baltimore County, State of Maryland, and more particularly described as follows:  8905 Harford Road, Baltimore, MD
21234, "CALIFORNIA ORCHARDS", together with all appurtenances, for a term of  2 years to commerce on July 1, 2004, and to
end on June 1,
2005, at 12:00 o'clock P. M. 

        1.    Rent.    Lessee agrees to pay, without demand, to Lessor as rent for the the demised premises the sum of  Fifteen Hundred Dollars ($1500.00)
 per month in advance on the 1st day of each calendar month beginning July 1, 2004, at
such as Lessor may designate. 

        2.    Security Deposit.    On execution of this lease, Lessee deposits with Lessor Fifteen
Hundred Dollars ($1500.00), receipt of which is acknowledged by Lessor, as security for the faithful performance by Lessee of the terms hereof, to be returned to Lessee,
without interest, on the full and faithful performance by him of the provisions hereof. 

        3.    Quiet Enjoyment.    Lessor covenants that on paying the rent and performing the covenants herein contained,
Lessee shall peacefully and quietly have, hold, and enjoy the demised premises for the agreed term. 

        4.    Use of Premises.    The demised premises shall be used and occupied by Lessee exclusively as a private single
office space for the purposes of carrying on a business, trade or profession. Lessee shall comply with all the sanitary laws, ordinances, rules, and orders of appropriate governmental authorities
affecting the cleanliness, occupancy, and preservation of the demised premises, and the sidewalks connected thereto, during the term of this lease. 

        5.    Number of Occupants.    Lessee agrees that the demised premises shall be occupied by no more than the number of
persons allowed by law at any given time. 

        6.    Condition of Premises.    Lessee stipulates that he has examined the demised premises, including the grounds and
all buildings and improvements, and that they are, at the time of this lease, in good order, repair, and a safe, clean, and tenantable condition. 

        7.    Assignment and Subletting.    Without the prior written consent of Lessor, Lessee shall not assign this lease,
or sublet or grant any concession or license to use the premises or any part thereof. A consent by Lessor to one assignment, subletting, concession, or license shall not be deemed to be a consent to
any subsequent assignments, subletting, concession, or licensed. An assignment, subletting, concession, or license without the prior written consent of Lessor, or an assignment or subletting by
operation of law, shall be void and shall, at Lessor's option, terminate this lease. 

        8.    Alterations and Improvements.    Lessee shall make no alterations to the building on the demised premises or
construct any building or make other improvements on the demised premises without prior written consent of Lessor. All alterations, changes, and improvements built, constructed, or placed on the
demised by Lessee, with the exception of fixtures removable with out damage to the premises and movable personal property, shall, unless otherwise provided by written agreement between Lessor and
Lessee, be the property of Lessor and remain on the demised premises at the expiration or sooner termination of this lease. 

        9.    Damage to Premises.    If the demised premises, or any part thereof, shall be partially damaged by fire or other
casualty not due to Lessee's negligence or willful act or that of his employee, family, 

1

 

agent,
or visitor, the premises shall be promptly repaired by Lessor and there shall be an abatement of rent corresponding with the time during which, and the extent to which, the leased premises may
have been untenantable; but, if the leased premises should be damaged other than by Lessee's negligence or willful act or that of his employee, family, agent, or visitor to the extent that Lessor
shall decide not to rebuild or repair, the term of this lease shall end and the rent shall be prorated up to the time of damage. 

        10.    Dangerous Materials.    Lessee shall not keep or have on the leased premises any article or thing of a
dangerous, inflammable, or explosive character that might unreasonably increase the danger of fire on
the leased premises or that might be considered hazardous or extra hazardous by any responsible insurance company. 

        11.    Utilities.    Lessee shall be responsible for arranging for and paying for all utilities services. 

        12.    Maintenance and Repair.    Lessee will, at his sole expense, keep and maintain the leased premises and
appurtenances in good and sanitary condition and repair during the term of this lease and any renewal thereof. In particular, Lessee shall keep the fixtures in the house or on or about the leased
premises in good order and repair; keep the furnace clean; keep the electric bills in order; keep the walks free from dirt and debris; and, at his sole expenses, shall make all required repairs to the
plumbing, range, heating apparatus, and electric and gas fixtures whenever damage thereto shall have resulted from Lessee's misuse, waste, or neglect or that of his employee, family, agent, or
visitor. Major maintenance and repair of the leased premises, not due to Lessee's misuse, waste, or neglect or that of his employees, family, agent, or visitor, shall be the responsibility of Lessor
of his assigns. 

        13.    Animals.    Lessee shall keep no domestic or other animals on or about the leased premises without the written
consent of Lessor. 

        14.    Right of Inspection.    Lessor and his agent shall have the right at all reasonable times during the term of
this lease and any renewal thereof to enter the demised premises for the purpose of inspecting the premises and all building and improvements thereon. 

        15.    Display of Signs.    During the last 60 days of this lease, Lessor or his agent shall have the privilege
of displaying the usual "For Sale" or "For Rent" or "Vacancy" signs on the demised premises and of showing the property to prospective purchasers or tenants. 

        16.    Subordination of Lease.    This lease and Lessee's leasehold interest hereunder are and shall be subject,
subordinate, and inferior to any liens or encumbrances now or hereafter placed on the demised premises by Lessor, all advances made under any such liens or encumbrances, the interest payable on any
such liens or encumbrances, and any and all renewals or extensions of such liens or encumbrances. 

        17.    Holdover by Lessee.    Should Lessee remain in possession of the demises premises with the consent of Lessor
after the natural expiration of this lease, a new month-to-month tenancy shall be created between Lessor and Lessee which shall be subject to all terms and conditions hereof
but shall be terminated on 30 days' written notice served by either Lessor or Lessee on the other party. 

        18.    Surrender of Premises.    At the expiration of the lease term, Lessee shall quit and surrender the premises
hereby demised in as good state and condition as they were at the commencement of this lease, reasonable use and wear thereof and damages by the elements excepted. 

        19.    Default.    If any default is made in the payment of rent, or any part thereof, at the times hereinbefore
specified, or if any default is made in the performance of or compliance with any other term or condition hereof, the lease, at the option of Lessor, shall terminate and be forfeited, and Lessor may
re-enter the premises and remove all persons therefrom. Lessee shall be given written notice of any default or breach, and termination and forfeiture of the lease shall not result if,
within 

2

 

15 days
of receipt of such notice, Lessee has corrected the default or breach or has taken action reasonably likely to effect such correction within a reasonable time. 

        20.    Abandonment.    If at any time during the term of this lease Lessee abandons the demised premises or any part
thereof, Lessor may, at his option, enter the demised premises by any means without being liable for any prosecution therefore, and without becoming liable to Lessee for damages or for any payment of
any kind whatever, and may, at is discretion, as agent for Lessee, relet the demises premises, or any part thereof, for the whole or any part of then unexpired term, and, may receive and collect all
rent payable by virtue of such reletting, and at Lessor's option, hold Lessee liable for any difference between the rent that would have been payable under this lease during the balance of the
unexpired term, if this lease had continued in force, and the net rent for such period realized by Lessor by means of such reletting. If Lessor's right to re-entry is exercised following
abandonment of the premises by Lessee, then Lessor may consider any personal property belonging to Lessee and left on the premises to also have been abandoned, in which case Lessor may dispose of all
such personal in any manner Lessor shall deem proper and is hereby relieved of all liability for doing so. 

        21.    Tenant Personal Property and Liability Insurance.    All Tenant's personal property in said premises shall be
and remain at his sole risk, and the Landlord shall not be liable for any damage to, or loss of such personal property arising from any acts of negligence of any other persons, nor from the leaking of
the roof, or from the bursting, leaking or overflowing of water, sewer or steam pipes, or from heating or plumbing fixtures, or from the handling of electric wires or fixtures, or from any other cause
whatsoever, nor shall the Landlord be liable for any injury to the person or the tenant or other persons in or about the premises, the Tenant expressly agreeing to save the Landlord harmless in all
such cases and to carry Public Liability Insurance in a company and in an amount not less than the following limits: Bodily Injury—$1,000,000.00 per occurrence; Property
Damage—$1,000,000.00 per occurrence. Tenant shall also carry "Fire Legal Liability" Insurance in an amount not less than the following limits: $75,000.00 per occurrence. 

        22.    Binding Effect.    The covenants and conditions herein contained shall apply to and bind the heirs, legal
representatives, and assigns of the parties hereto, and all covenants are to be construed as conditions of this lease. 

        IN
WITNESS WHEREOF, the parties have executed this lease on the day and year first above written. 

	

/s/  MARIO J. ORLANDO      
 Mario J. Orlando—Lessor	
 	

Carrollton Mortgage Services
	

/s/  MATTHEW J. SALAFIA      
 Matthew J. Salafia—Lessor	
 	

By:	
 	

[ILLEGIBLE]

        This
contract shall continue to be in force month to month from the end date. It shall continue until either party notifies the Lessee or Lessor with 30 days written notification
by certified mail. Any request shall be sent to 8905 Hartford Road, Parkville, MD 21234 Attn: Mario J. Orlando. 

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COMMERCIAL LEASE OF HOUSE UNFURNISHED

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