Document:

exv10w128

Exhibit 10.128

     Amendment to Loan Documents between Erie Indemnity Company and PNC Bank, National Association
dated December 22, 2010.

 

 

			
	Amendment to Loan Documents
	 	

          THIS AMENDMENT TO LOAN DOCUMENTS (this “Amendment”) is made as of December 22, 2010, by and between
ERIE INDEMNITY COMPANY, a Pennsylvania corporation (the “Borrower”), and PNC BANK, NATIONAL
ASSOCIATION (the “Bank”).

BACKGROUND

     A. The Borrower has executed and delivered to the Bank one or more promissory notes, letter
agreements, security agreements, mortgages, pledge agreements, collateral assignments, and other
agreements, instruments, certificates and documents, some or all of which are more fully described
on attached Exhibit A, which is made a part of this Amendment (collectively as amended from time to
time, the “Loan Documents”), which evidence or secure some or all of the Borrowers’ obligations to
the Bank for one or more loans or other extensions of credit (the “Obligations”).

B. The Borrowers and the Bank desire to amend the Loan Documents as provided for in this Amendment.

     NOW, THEREFORE, in consideration of the mutual covenants herein contained and intending to be
legally bound hereby, the parties hereto agree as follows:

     1. Certain
of the Loan Documents are amended as set forth in Exhibit A. Any and all references to
any Loan Document in any other Loan Document shall be deemed to refer to such Loan Document as
amended by this Amendment. This Amendment is deemed incorporated into each of the Loan Documents.
Any initially capitalized terms used in this Amendment without definition shall have the meanings
assigned to those terms in the Loan Documents. To the extent that any term or provision of this
Amendment is or may be inconsistent with any term or provision in any Loan Document, the terms and
provisions of this Amendment shall control.

     2. The Borrower hereby certifies that: (a) all of its representations and warranties in the Loan
Documents, as amended by this Amendment, are, except as may otherwise be stated in this Amendment:
(i) true and correct as of the date of this Amendment, (ii) ratified and confirmed without
condition as if made anew, and (iii) incorporated into this Amendment by reference, (b) no Event of
Default or event which, with the passage of time or the
giving of notice or both, would constitute an Event of Default, exists under any Loan Document
which will not be cured by the execution and effectiveness of this Amendment, (c) no consent,
approval, order or authorization of, or registration or filing with, any third party is required in
connection with the execution, delivery and carrying out of this Amendment or, if required, has
been obtained, and (d) this Amendment has been duly authorized, executed and delivered so that it
constitutes the legal, valid and binding obligation of the Borrower, enforceable in accordance with
its terms. The Borrower confirms that the Obligations remain outstanding without defense, set off,
counterclaim, discount or charge of any kind as of the date of this Amendment.

 

 

     3. The Borrower hereby confirms that any collateral for the Obligations including liens, security
interests, mortgages, and pledges granted by the Borrower or third parties (if applicable), shall
continue unimpaired and in full force and effect, and shall cover and secure all of the Borrower’s
existing and future Obligations to the Bank, as modified by this Amendment.

     4. As a condition precedent to the effectiveness of this Amendment, the Borrower shall comply with
the terms and conditions (if any) specified in Exhibit A.

     5. To induce the Bank to enter into this Amendment, the Borrower waives and releases and forever
discharges the Bank and its officers, directors, attorneys, agents, and employees from any
liability, damage, claim, loss or expense of any kind that it may have against the Bank or any of
them arising out of or relating to the Obligations. The Borrower further agrees to indemnify and
hold the Bank and its officers, directors, attorneys, agents and employees harmless from any loss,
damage, judgment, liability or expense (including attorneys’ fees) suffered by or rendered against
the Bank or any of them on account of any claims arising out of or relating to the Obligations. The
Borrower further states that it has carefully read the foregoing release and indemnity, knows the
contents thereof and grants the same as its own free act and deed.

     6. This Amendment may be signed in any number of counterpart copies and by the parties to this
Amendment on separate counterparts, but all such copies shall constitute one and the same
instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile
transmission shall be effective as delivery of a manually executed counterpart. Any party so
executing this Amendment by facsimile transmission shall promptly deliver a manually executed
counterpart, provided that any failure to do so shall not affect the validity of the counterpart
executed by facsimile transmission.

     7. This Amendment will be binding upon and inure to the benefit of the Borrower and the Bank and
their respective heirs, executors, administrators, successors and assigns.

     8. This Amendment has been delivered to and accepted by the Bank and will be deemed to be made in
Commonwealth of Pennsylvania. This Amendment will be interpreted and the rights and liabilities of
the parties hereto determined in accordance with the laws of the Commonwealth of Pennsylvania,
excluding its conflict of laws rules.

     9. Except as amended hereby, the terms and provisions of the Loan Documents
remain unchanged, are and shall remain in full force and effect unless and until modified or
amended in writing in accordance with their terms, and are hereby ratified and confirmed. Except as
expressly provided herein, this Amendment shall not constitute an
amendment, waiver, consent or release with respect to any provision of any Loan Document, a waiver
of any default or Event of Default under any Loan Document, or a waiver or release of any of the
Bank’s rights and remedies (all of which are hereby reserved). The Borrower expressly ratifies and
confirms the confession of judgment (if applicable) and waiver of jury trial provisions contained
in the Loan Documents.

[INTENTIONALLY LEFT BLANK]

-2-

 

     WITNESS the due execution of this Amendment as a document under seal as of the date first written
above.

	 	 	 	 	 	 	 	 

	WITNESS:	 	Erie Indemnity Company	 
	 
	By: 	 /s/ Robert W. McNutt	 	By: 	       /s/       Douglas F. Ziegler
	(SEAL) 
	 	Vice President Assistant Treasurer	 	 	Name: 	 Douglas F. Ziegler
	 	 	 	 	 	Title:	 SVP, Treasurer and Chief Investment Officer
	 
	 	 	 	 	PNC Bank, National Association
	 
	 	 	 	 	By: 	 /s/ James F. Stevenson
	 	 	 	 	 	Name: 	 James F. Stevenson
	 	 	 	 	 	Title:	 Senior Vice President

 

 

EXHIBIT A TO

AMENDMENT TO LOAN DOCUMENTS

DATED DECEMBER 22, 2010

	A.	 	The “Loan Documents” that are the subject of this Amendment include the following (as any of the
foregoing have previously been amended, modified or otherwise supplemented):

	 	1.	 	Loan Agreement, dated as of January 30, 2008, by and between the Borrower and the Bank (“Loan
Agreement”); and
	 
	 	2.	 	All other documents, instruments, agreements, and certificates executed and delivered in
connection with the Loan Documents listed in this Section A.

	B.	 	The Loan Agreement is amended as follows:

	 	1.	 	Section 3.6 of the Loan Agreement is hereby deleted in its entirety and in its stead is inserted
as follows:

	 	 	 	3.6 Title to Assets. The Borrower has good and marketable title to the assets reflected on
the most recent Financial Statements, free and clear of all liens and encumbrances, except for (i)
current taxes and assessments not yet due and payable, (ii) assets disposed of by the Borrower in
the ordinary course of business since the date of the most recent Financial Statements, (iii) those
liens or encumbrances in excess of Twenty Five Million and 00/100 Dollars ($25,000,000.00) per
instance, if any, specified on the Addendum, (iv) those certain equity interests sold by the
Borrower pursuant to the Property & Casualty Asset Sale (as hereinafter defined), and (v) those
certain equity interests sold by the Borrower pursuant to the Life Insurance Asset Sale (as
hereinafter defined).

	 	2.	 	Section 5.5 of the Loan Agreement is hereby deleted in its entirety and in its stead is inserted
as follows:

	 	 	 	5.5 Merger or Transfer of Assets. Liquidate or dissolve, or merge or consolidate with or
into any person, firm, corporation or other entity, or sell, lease, transfer or otherwise dispose
of all or any substantial part of its property, assets, operations or business, whether now owned
or hereinafter acquired; except for (i) the sale of the equity interests in Erie Insurance Company,
a Pennsylvania corporation, and Erie Insurance Property & Casualty Company, a Pennsylvania
corporation, on or before December 31, 2010, to Erie Insurance Exchange, a reciprocal or
inter-insurance exchange domiciled in the Commonwealth of
Pennsylvania (“Exchange”), whereby
Exchange will purchase such equity interests for cash consideration equal to the adjusted book
value of such entities (collectively, the “Property &
Casualty Asset Sale”), and (ii) the

 

 

	 	 	 	sale of the equity interest in Erie Family Life Insurance Company, a Pennsylvania corporation, on
or before March 31, 2011 to Exchange, whereby Exchange will purchase such equity interest for
cash consideration equal to ninety-five percent (95%) of the adjusted book value of such entity
(collectively, the “Life Insurance Asset Sale”) (the Property & Casualty Asset Sale and the Life
Insurance Asset Sale are collectively, the “Asset Sales”).

	 	3. 	 	Section 5.6 of the Loan Agreement is hereby deleted
in its entirety and in its stead is inserted
as follows:

	 	 	 	5.6 Change in Business, Management or Ownership. Make or permit any change in its form of
organization or the nature of its business as carried on as of the date hereof other than the
change in the nature of its business due to the sale of the business units sold in connection with
the Property & Casualty Asset Sale and/or the Life Insurance Asset Sale.

	 	4.	 	Section (1) to the Continuation of Addendum to the Loan Agreement is hereby deleted in its
entirety and in its stead is inserted as follows:

	 	 	 	(1) Beginning with the fiscal quarter ending September 30, 2010, the Borrower will maintain at all
times a minimum consolidated net worth of Six Hundred Million and 00/100 Dollars ($600,000,000.00),
to be measured quarterly as of such date and as of each fiscal
quarter ending thereafter; provided,
however that (i) on and after the completion of the Property & Casualty Asset Sale, the Borrower
will maintain at all times a minimum consolidated net worth of not less than Three Hundred Million
and 00/100 Dollars ($300,000,000.00) as of the fiscal quarter ending December 31, 2010 and each
succeeding fiscal quarter end thereafter, and (ii) on and after the completion of the Asset Sales,
the Borrower will maintain at all times a minimum consolidated net worth of not less than Two
Hundred Million and 00/100 Dollars ($200,000,000.00) as of the fiscal
quarter ending March 31, 2011, and each succeeding fiscal quarter end thereafter.

	 	5.	 	All references in the Loan Documents to the “Loan Agreement” shall be deemed to mean, the Loan
Agreement, dated as of January 30, 2008, by and between the Borrower and the Bank, as amended
prior to December 22, 2010, and as further amended by this Amendment to Loan Documents dated
December 22, 2010, by and between the Borrower and the Bank.

	C.	 	Conditions to Effectiveness of Amendment: The Bank’s willingness to agree to the amendments set
forth in this Amendment are subject to the prior satisfaction of the following conditions:

 

 

	 	1.	 	Execution by all parties and delivery to the Bank of this Amendment, and those documents
identified on the Preliminary Closing Checklist, attached hereto as Schedule A, and made
part hereof.
	 
	 	2.	 	Payment by the Borrower to the Bank of an amendment fee in the amount of Five Thousand and
00/100 Dollars ($5,000.00), and the fees and expenses of the Bank’s outside counsel in connection
with this Amendment.exv10w129

Exhibit 10.129

Home Office

144 East 6th Street

Erie, PA 16507

LEASE AGREEMENT

     THIS LEASE is made and entered into this 1st day of January, 2011, between ERIE
INSURANCE EXCHANGE, a reciprocal insurance exchange organized under the laws of Pennsylvania with
principal offices and place of business at 100 Erie Insurance Place, Erie, PA 16530, acting by and
through its attorney-in-fact, ERIE INDEMNITY COMPANY, (“Landlord”),

AND

          ERIE INDEMNITY COMPANY, a Pennsylvania business corporation, with its principal offices and
place of business at 100 Erie Insurance Place, Erie, PA 16530 (“Tenant”).

PARAGRAPH 1. LEASED PREMISES DESCRIPTION AND TERM

Description

1.01. In consideration of the rents, terms, provisions and covenants of this Agreement, Landlord
hereby leases, lets and demises to Tenant approximately 558,928 square feet of rentable office
space, located in that building known as Home Office (“Building”), said Building and underlying
realty situated at 144 East 6th Street, Erie, PA 16507 (“Property”). More specifically,
such 558,928 rentable square feet includes those areas highlighted in yellow on attached Lease
Agreement Exhibit A 1 which is made a part hereof and incorporated herein. The highlighted area of
Exhibit A 1 evidences the present approximate area of the Building hereinafter referred to as
“Leased Premises” or “Premises.” Tenant shall also be entitled to the use of parking ramps and
surface parking surrounding and attached to said “Building”.

Term of Lease

1.02 The term of this Lease shall commence on January 1, 2011 (“Effective Date”) and shall
terminate on the 31st day of December, 2016, (“Original Term”).

Option to Renew

1.03. Tenant has the right to extend this Lease beyond the Original Term provided in Paragraph 1.02
on the following terms and conditions:

(a) Should Tenant fully perform all of the terms and conditions of this Lease, Tenant
may extend the term of this Lease for a period of five (5) years, (“First Option”),
to commence on January 1, 2017 and expire on December 31, 2021. However, if Tenant is
in default in the performance of any of the terms or provisions of this Lease at the
expiration date of the Original Term, the First Option shall be null and void.
Unless expressly set forth herein to the contrary, all terms, covenants, and
provisions of the Original Term shall apply to the First Option.

(b) Tenant may exercise the First Option by (i) giving Landlord notice of its
intention to do
so not later than 90 days prior to the expiration of the Original Term.

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Holdover

1.04. If Tenant holds over and continues in possession of the Leased Premises after expiration of
the term of this Lease or any extension of that term, Tenant will be deemed to be occupying the
Leased Premises on the basis of a month-to-month tenancy, subject to all of the terms and
conditions of this Lease.

PARAGRAPH 2. RENT

Fixed Minimum Rent

	2.01.	 	Commencing on the Effective Date and continuing through the termination of the Original
Term, Tenant agrees to pay monthly as fixed minimum rent during the term of this Lease the sum
of $863,921.00 per month. Such sum includes the estimated operational cost as defined in
section 2.03. Payment shall be made in advance on the first day of each month and rent for any
fractional month at the beginning or end of the Lease shall be prorated on a per diem basis.
Tenant shall pay, as additional rent, all other sums due and payable under this Lease on the
date set forth herein by which such payments are to be made. On an annual basis, Landlords
accounting shall recalculate the Fixed Minimum Rent based on the average Treasury Bill rate or
discount rate. Landlords accounting shall perform this 4 months in advance of the end of the
calendar year for determining the Fixed Minimum Rent for the following year. The Fixed Minimum
Rent for 2011 is $7.33 per square foot.

Operating Expenses

	2.02	 	Tenant shall also pay as additional rent Tenant’s pro rata share of the operating expenses of
the Landlord for the building and/or project of which the leased premises are a part. Each
year, the Landlord will notify the Tenant of the anticipated operating expenses for the coming
year. Notice shall include the cost per square foot and the total monthly operating expense
for such. Tenant shall pay such monthly operating expense alone with their monthly rent. The
operating expenses for 2011 is $11.22 per square foot. Within four (4) months of the close of
each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail
all computations of additional rent due under this section for said calendar year. In the
event the accounting shows that the total of the monthly payments made by Tenant exceed the
amount of additional rent due from Tenant under this section, the accounting shall be
accompanied by refund. In the event the accounting shows that the total of the monthly
payments made by Tenant is less then the amount of additional rent due from Tenant under this
section, the accounting shall be accompanied by an invoice for the additional rent.

Definition of Operating Expenses

	2.03	 	The term “Operating Expenses” includes all expenses incurred by Landlord with respect to the
maintenance and operation of the building of which leased premises are a part, including, but
not limited to, the following: maintenance, repair and replacement costs; electricity, fuel,
water, sewer, gas, and other utility charges; security, window washing and janitorial
services; trash and snow removal; landscaping and pest control, management fees, wages and
benefits payable to employees of Tenant whose duties are directly connected with the operation
and maintenance of the building; all services, supplies, repairs, replacements or other
expenses for maintaining and operating the building including parking and common areas; cost,
including interest, amortized over its useful life, of any capital improvement made to the
building by Landlord after the date of this Lease which is required under any governmental law
or regulation over its useful life, of installation of any devise or other equipment
which improves the operating efficiency of any system within the leased premises and thereby
reduces operating expenses; all other

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	 	 	expenses which would generally be regarded as operating and maintenance expenses which
would reasonably be amortized over a period not to exceed five (5) years; all real property
taxes and installments of special assessments; and all insurance premiums Landlord is
required to pay or deems necessary to pay, including public liability insurance, with
respect to the building. The term “Operating Expenses” does not include the following:
repairs, restoration or other work occasioned by fire, wind, the elements or other casualty;
income and income paid to any employee of Landlord above the grade of property manager; any
depreciation allowance or expense; or operating expenses which are the responsibility of
Tenant.

PARAGRAPH 3. USE OF PREMISES

Use of Premises

	3.01.	 	Tenant will use and manage the Leased Premises solely as a business office pursuing
activities which are both lawful and in compliance with all relevant zoning and other
municipal ordinances.

PARAGRAPH 4. MAINTENANCE AND SURRENDER

Maintenance and Surrender by Tenant

	4.02.	 	At the termination of this Lease, Tenant shall deliver the Leased Premises in as good a
condition and state of repair as at the time Landlord delivered possession to Tenant, except
for reasonable wear and tear and damage by fire, flood, or other casualty. If Tenant commits
waste, Landlord shall have the right, but not the obligation, to cause repairs or corrections
to be made, and any reasonable costs incurred for such repairs or corrections for which Tenant
is responsible under this Paragraph shall be payable by Tenant to Landlord as additional rent
on the next rent installment date.

PARAGRAPH 5. ALTERATIONS, ADDITIONS, IMPROVEMENTS, AND FIXTURES

Consent of Landlord

	5.01.	 	Tenant shall not make any alterations, additions, or improvements to the Leased Premises
without the prior written consent of Landlord, such consent not to be unreasonably withheld.

Property of Landlord

	5.02.	 	All alterations, additions, or improvements made by Tenant shall become the property of
Landlord at the termination of this Lease. However, if Tenant so elects at such termination,
Tenant shall promptly remove all alterations, additions, and improvements, and any other
property placed in or on the Premises by Tenant, and Tenant shall repair any damage caused by
such removal.

Trade Fixtures

	5.03.	 	Tenant has the right at all times to erect or install furniture and fixtures, provided that
Tenant complies with all applicable governmental laws, ordinances, and regulations. Tenant
shall remove such furniture and fixtures at the termination of this Lease. Prior to the
termination of this Lease, Tenant must repair any damage caused by removal of any such
furniture or fixtures.

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Landlord’s Right to Make Tenant’s Alterations, Additions, or Improvements

	5.04.	 	Maintenance and/or construction employees of Landlord, or Landlord’s contractors, shall make
all alterations, additions, or improvements to the Leased Premises which have received the
prior written consent of Landlord if Landlord’s bid for such work is equal to or less than any
other reasonable arms-length bid which Tenant has obtained from any other contractor. If
Landlord’s bid is not accepted by Tenant because it is not the lowest responsible bid, Tenant
will see that its contractor makes all such alterations, additions, or improvements in a
first-class and workmanlike manner which shall be in compliance with all relevant building and
safety codes and all other local, state, and federal building requirements applicable to such
alterations, additions, or improvements.

Landlord Renovations

	5.05	 	Landlord will, at its expense, install new carpeting and base, and one coat of paint on
existing walls.

PARAGRAPH 6. DAMAGE OR DESTRUCTION

Total Destruction

	6.01.	 	If the Leased Premises are totally destroyed by fire, flood, or other casualty not the fault
of Tenant or any person in or about the Leased Premises with the express or implied consent of
Tenant, or if the Premises should be so damaged by such a cause that rebuilding or repairs
cannot be completed within 90 working days, this Lease shall terminate, and rent shall be
abated for the unexpired portion of this Lease, effective as of the date of written
notification as provided in Paragraph 8.01.

Partial Destruction

	6.02.	 	If the Leased Premises are damaged by fire, flood, or other casualty not the fault of Tenant
or any person in or about the Leased Premises with the express or implied consent of Tenant,
but not to such an extent that rebuilding or repairs cannot reasonably be completed within 45
working days from the date of the commencement of the rebuilding or repairs, this Lease shall
not be terminated except as provided in Subparagraphs (a) and (b).

(a) If the partial destruction of the Leased Premises occurs prior to the final six
months of the Lease term, Landlord shall, at its sole cost and risk, proceed
immediately to rebuild or repair the damaged buildings and improvements to
substantially the condition in which they existed prior to such damage. If the
Leased Premises are untenantable in whole or in part following such damage, the rent
payable during the period in which they are untenantable shall be adjusted equitably.
In the event that Landlord should fail to complete such rebuilding or repairs within
45 working days from the date of the commencement of the rebuilding or repairs,
Tenant may terminate this Lease by written notification to Landlord. On such
notification, all rights and obligations under this Lease shall cease.

(b) If partial destruction of the Leased Premises occurs in the final six months of
any leased term, Landlord need not rebuild or repair the Premises. If Landlord
elects not to rebuild or repair the Premises and the Leased Premises are untenantable
in whole or in part following such damage, Tenant may elect to terminate the Lease or
to continue the Lease with the rent for the remainder of the Lease period adjusted
equitably.

PARAGRAPH 7. CONDEMNATION

Total Condemnation

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	7.01.	 	If the whole of the Leased Premises shall be taken by any public or quasi-public authority
under the power of eminent domain, condemnation, or expropriation or in the event of a
conveyance in lieu thereof, then this Lease shall terminate on the date when Tenant is
required to yield possession. Rent shall abate and Tenant shall have no claim against
Landlord or the condemning authority for the value of the unexpired term of this Lease.

Partial Condemnation

	7.02.	 	If any part of the Leased Premises shall be so taken or conveyed and if such partial taking
or conveyance shall render the Leased Premises unsuitable for the business of the Tenant, then
the term of this Lease shall cease and terminate as of the date on which possession of the
Leased Premises is required to be surrendered to the condemning authority. Tenant shall have
no claim against Landlord or the condemning authority for the value of any unexpired portion
of this Lease. In the event such partial taking or conveyance is not extensive enough to
render the Premises unsuitable for the business of Tenant, this Lease shall continue in full
force and effect except that the rent shall be adjusted equitably during the unexpired portion
of the Lease.

Landlord’s Damages

	7.03.	 	In the event of any condemnation or taking, whether whole or partial, the Tenant shall not
be entitled to any part of the award. Tenant hereby expressly waives any right or claim to
any part of such amount and assigns to Landlord any such right or claim to which Tenant might
become entitled.

Tenant’s Damages

	7.04.	 	Although all damages in the event of any condemnation are to belong to the Landlord, Tenant
shall have the right, to the extent that it shall not diminish the Landlord’s award, to claim
and recover from the condemning authority, such compensation as may be separately awarded or
recoverable by Tenant under the Eminent Domain Code in Tenant’s own right for or on account
of, and limited solely to, any cost to which Tenant might be put in removing Tenant’s
merchandise, furniture, fixtures, leasehold improvements, and equipment.

PARAGRAPH 8. INDEMNITY AND PERSONAL INJURY/PROPERTY INSURANCE

Indemnity

	8.01.	 	Tenant agrees to indemnify and hold Landlord harmless against any and all claims, demands,
damages, costs, and expenses, including all attorneys’ fees and associated costs, arising from
the conduct or management of Tenant’s business on the Leased Premises, Tenant’s use of the
Leased Premises, Tenant’s presence in the Building or on the Property, or from any breach on
the part of Tenant of any conditions of this Lease, or from any act or negligence of Tenant,
its officers, agents, contractors, employees, sublessees, or invitees in or about the Leased
Premises, Building, or Property. In case of any action or proceeding brought against Landlord
by reason of any such claim, Tenant, on notice from Landlord, agrees to defend the action or
proceeding.

Personal Injury and Property Insurance

	8.02	 	Landlord shall at all times during the term of this Lease maintain a policy or policies of
insurance insuring the Building against all risk of direct physical loss; provided, Landlord
shall not be obligated in
anyway or manner to insure any personal property (including, but not limited to, any
furniture, fixtures, and equipment,

5

 

	 	 	machinery, goods or supplies) of Tenant or which Tenant may have upon or within the Leased
Premises or any fixtures installed by or paid for by Tenant upon or within the Leased
Premises or any additional improvements which Tenant may construct on the Leased Premises.
	 
	 	 	          Tenant shall, at its expense, during the term hereof, maintain public liability and
property damage insurance policies with respect to the Leased Premises. Such policies shall
have limits of at least $1,000,000.00 for injury or death to any one person and
$3,000,000.00 for any one accident, and $1,000,000.00 with respect to damage to property.

PARAGRAPH 9. MISCELLANEOUS

Mortgages

9.01. Tenant accepts this Lease subject to any deeds of trust, security interests, or mortgages
that might now or later constitute a lien on the Property, Building or on improvements to the
Property, Building, or the Leased Premises. Tenant must, on demand, execute any instruments,
releases, or other documents that are required by any mortgagee for the purpose of subjecting and
subordinating this Lease to the lien of any such deed of trust, security interest, or mortgage
constituting a lien on the Building or improvements in the Building or the Leased Premises,
Landlord has the right to waive the applicability of this Paragraph so that this Lease will not be
subject and subordinate to any such deed of trust, security interest, or mortgage.

Americans With Disabilities Act

9.02. Landlord agrees that at the commencement of this Lease, the Premises will comply with the
requirements of that certain federal statute known as the Americans With Disabilities Act (42
U.S.C. §12101 et seq.) and the regulations promulgated in connection therewith, as the same shall
be amended from time to time, hereinafter, collectively, the “ADA,” as and when such compliance is
required pursuant to the terms of the ADA. Tenant agrees that any alterations, additions, or
improvements which Tenant may make in the Premises during the term or any renewal or extension of
this Lease (the “Additional Improvements”), shall be so made in accordance with the terms of this
Lease and the ADA, to the extent the ADA is applicable to the Premises as of the date or dates such
alterations, additions, or improvements are in the Premises. In addition, Tenant agrees to make
any necessary alterations, additions, or improvements to remain in compliance with the ADA during
the term and any renewal or extension of this Lease as and when such compliance is required
pursuant to the terms of the ADA.

Pennsylvania Law to Apply

9.03. This Lease shall be governed by and construed in accordance with the laws of the Commonwealth
of Pennsylvania. All obligations of the parties created by this agreement are performable in Erie
County, Pennsylvania.

Legal Construction

9.04. In the event any one or more of the provisions contained in this agreement shall for any
reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other provision of the agreement, and this
agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been
included in the agreement.

Amendment

9.05. No amendment, modification, or alteration of the terms of this Lease shall be binding unless
in writing,
dated subsequent to the date of this Lease, and duly executed by the Landlord and Tenant.

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Tenant and Related References

9.06. All references herein to Tenant shall include Tenant’s officers, employees, agents, and
invitees.

               Intending to be legally bound hereby, the undersigned Landlord and Tenant execute this Lease
on the day and year set forth above.

	 	 	 	 	 
	 	Landlord: Erie Insurance Exchange 

By its Attorney-in-Fact, Erie

Indemnity Company

 	 
	 	By:  	/s/ Chip Dufala
 	 
	 	 	Chip Dufala, Executive Vice President 	 
	 	 	Erie Indemnity Company, as
Attorney-in-Fact 	 
	 
	 	Tenant: Erie Indemnity Company

 	 
	 	By:  	/s/ Cheryl Ferrie
 	 
	 	 	Cheryl Ferrie, Senior Vice President 	 
	 	 	 	 

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LEASE

BETWEEN

ERIE INSURANCE EXCHANGE

acting by and through its attorney-

in-fact, ERIE INDEMNITY COMPANY

AND

ERIE INDEMNITY COMPANY

TABLE OF CONTENTS

	 	 	 	 	 

	Paragraph 1. Leased Premises Description and Term
	 	 	1	 
	Paragraph 2. Basic Rent
	 	 	2	 
	Paragraph 3. Use of Premises
	 	 	3	 
	Paragraph 4. Maintenance and Surrender
	 	 	3	 
	Paragraph 5. Alterations, Additions, Improvements, and Fixtures
	 	 	3	 
	Paragraph 6. Damage or Destruction
	 	 	4	 
	Paragraph 7. Condemnation
	 	 	4	 
	Paragraph 8. Indemnity and Personal Injury/ Property Insurance
	 	 	5	 
	Paragraph 9. Miscellaneous
	 	 	6	 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}]]