Document:

exv4w3

Exhibit 4.3

Unless this certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to the Company (as defined below) or its agent for
registration of transfer, exchange, or payment, and any certificate issued is registered in the
name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

			
	 	 	 
	REGISTERED 

No.: 1
	 	PRINCIPAL AMOUNT     

$350,000,000     

CUSIP No.: 743410AU6

PROLOGIS

7.625% NOTE DUE 2014

     PROLOGIS, a real estate investment trust organized and existing under the laws of the State of
Maryland (hereinafter called the “Company,” which term shall include any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or
registered assigns, upon presentation, the principal sum of THREE HUNDRED AND FIFTY MILLION DOLLARS
on August 15, 2014 and to pay interest on the outstanding principal amount thereon at the rate of
7.625% per annum, until the entire principal hereof is paid or made available for payment.
Interest shall accrue from August 14, 2009 or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, and be payable semi-annually in arrears on February 15
and August 15 in each year, commencing on February 15, 2010. The interest so payable, and
punctually paid or duly provided for on any Interest Payment Date will, as provided in the
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest
which shall be February 1 or August 1 (whether or not a Business Day), as the case may be, next
preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided
for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may either
be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this
series not more than 15 days and not less than 10 days prior to such Special Record Date, or may be
paid at any time in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities may be listed, and upon such notice as may be required
by such exchange, all as more fully provided in the Indenture. Payment of the principal of, or
Make-Whole Amount, if applicable, on, and interest on this Security will be made at the office or
agency of the Company maintained for that purpose in the Borough of Manhattan, City of New York and
St. Paul, Minnesota, or elsewhere as provided in the Indenture, in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that at the option of the Company, payment of
interest may be made by (i) check mailed to the address of the Person entitled thereto as such
address shall appear in the Security Register or (ii) transfer to an account of the Person entitled
thereto located inside the United States.

     Each Security of this series is one of a duly authorized issue of securities of the Company
(herein called the “Securities”), issued and to be issued in one or more series under an Indenture,
dated as of

 

 

March 1, 1995 (herein called the “Indenture”), between the Company and U.S. Bank National
Association (successor in interest to State Street Bank and Trust Company), as trustee (herein
called the “Trustee,” which term includes any successor trustee under the Indenture with respect to
the series of which this Security is a part), to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and
of the terms upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the first page hereof, initially limited in aggregate
principal amount to $350,000,000, subject to the Company’s right to increase the aggregate
principal amount of such series from time to time.

     Securities of this series may be redeemed at any time at the option of the Company, in whole
or in part, at a redemption price (the “Make-Whole Amount”) equal to the greater of

	 	(1)	 	100% of the principal amount of the Securities to be redeemed; or
	 
	 	(2)	 	the sum of the present values of the remaining scheduled payments of principal
and interest on the Securities to be redeemed (exclusive of interest accrued to the
date of redemption) discounted to the date of redemption on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the then current
Treasury Rate plus 50 basis points.

     In each case the Company will pay accrued and unpaid interest on the principal amount being
redeemed to the date of redemption.

     The following definitions apply with respect to the Make-Whole Amount:

          “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining
Life”) of the Securities to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the Remaining Life.

          “Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and
lowest Reference Treasury Dealer Quotations, or (2) if the Trustee obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations.

          “Independent Investment Banker” means one of the Reference Treasury Dealers that the Company
appoints to act as the Independent Investment Banker from time to time.

          “Reference Treasury Dealer” means each of J.P. Morgan Securities Inc., Barclays Capital Inc.,
Morgan Stanley & Co. Incorporated and RBS Securities Inc., and their successors, and one other firm
that is a primary U.S. Government securities dealer (each a “Primary Treasury Dealer”)
which the Company specifies from time to time; provided, however, that if any of them ceases to be
a Primary Treasury Dealer, the Company shall substitute another Primary Treasury Dealer.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Trustee, of the bid and asked prices

 

 

for the Comparable Treasury Issue (expressed in each case as a percentage of its principal
amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York
City time, on the third business day preceding such redemption date.

          “Treasury Rate” means, with respect to any redemption date, the rate per year equal to: (1)
the yield, under the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release designated “H.15(519)” or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue; provided that, if no maturity is within three
months before or after the Remaining Life of the Securities to be redeemed, yields for the two
published maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the Treasury Rate shall be interpolated or extrapolated from those yields on a
straight line basis, rounding to the nearest month; or (2) if such release (or any successor
release) is not published during the week preceding the calculation date or does not contain such
yields, the rate per year equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such redemption
date. The Treasury Rate shall be calculated on the third business day preceding the redemption
date.

     The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of
the Company on this Security and (b) certain restrictive covenants and the related defaults and
Events of Default applicable to the Company, in each case, upon compliance by the Company with
certain conditions set forth in the Indenture, which provisions apply to this Security.

     If an Event of Default with respect to Securities of this series shall occur and be
continuing, the Make-Whole Amount on the Securities of this series may be declared due and payable
in the manner and with the effect provided in the Indenture.

     As provided in and subject to the provisions of the Indenture, unless the principal of all of
the Securities of this series at the time Outstanding shall already have become due and payable,
the Holder of this Security shall not have the right to institute any proceeding with respect to
the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in
principal amount of the Securities of this series at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and
offered the Trustee reasonable indemnity and the Trustee shall not have received from the Holders
of a majority in principal amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and the Trustee shall have failed to institute any such proceeding
for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not
apply to any suit instituted by the Holder of this Security for the enforcement of any payment of
principal hereof or any interest on or after the respective due dates expressed herein.

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the

 

 

Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series of Securities then Outstanding affected thereby. The
Indenture also contains provisions permitting the Holders of specified percentages in principal
amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon
all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver
is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of, Make-Whole Amount, if applicable, on, and interest on this Security at the times,
place and rate, and in the coin or currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registrable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any Place of Payment where
the principal of, Make-Whole Amount, if applicable, on, and interest on this Security are payable
duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

     The Securities of this series are issuable only in registered form without coupons in minimum
denominations of $1,000 and any integral multiple of $1,000 in excess thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series of a different
authorized denomination, as requested by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

     No recourse under or upon any obligation, covenant or agreement contained in the Indenture or
in this Security, or because of any indebtedness evidenced thereby, shall be had against any
promoter, as such, or against any past, present or future shareholder, officer or trustee, as such,
of the Company or of any successor, either directly or through the Company or any successor, under
any rule of law, statute or constitutional provision or by the enforcement of any assessment or by
any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance of this Security by the Holder thereof and as part of the consideration
for the issue of the Securities of this series.

 

 

     All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

     THE INDENTURE AND THE SECURITIES, INCLUDING THIS SECURITY, SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.

     Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused “CUSIP” numbers to be printed on the Securities of this series
as a convenience to the Holders of such Securities. No representation is made as to the
correctness or accuracy of such CUSIP numbers as printed on the Securities, and reliance may be
placed only on the other identification numbers printed hereon.

[This space intentionally left blank.]

 

 

     Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee by manual signature, this Security shall not be entitled to any benefit under the Indenture
or be valid or obligatory for any purpose.

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by the
undersigned officer.

	 	 	 	 	 	 	 
	 	 	PROLOGIS	 	 
	 
	 	 	 	 	 	 
	(SEAL)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Phillip D. Joseph, Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Phillip D. Joseph, Jr.	 	 
	 

	 	 	 	Title: Senior Vice President	 	 

	 	 	 	 	 
	Attest	 	 
	 
	 	 	 	 
	By:

	 	/s/ David Grawemeyer	 	 
	 

	 	 	 	 
	 

	 	Name: David Grawemeyer	 	 
	 

	 	Title: Assistant Secretary	 	 

Dated: August 14, 2009

TRUSTEE’S CERTIFICATE OF AUTHENTICATION:

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION,	 	 
	  as successor trustee	 	 
	 
	 	 	 	 
	BY:

	 	/s/ U.S. Bank National Association	 	 
	 

	 	 	 	 
	 

	 	Authorized Officer	 	 

 

 

ASSIGNMENT FORM

FOR VALUE RECEIVED, the undersigned hereby

sells, assigns and transfers unto

PLEASE INSERT SOCIAL

SECURITY OR OTHER IDENTIFYING

NUMBER OF ASSIGNEE

	 	 	 
	
 

	 	 

(Please Print or Typewrite Name and Address including

Zip Code of Assignee)

the within-mentioned Security of ProLogis and hereby does irrevocably constitute and appoint                                                                   
                                                           
                                                                            Attorney
to transfer said Security on the books of the within-named Company with full power of substitution
in the premises.

Dated                     

NOTICE: The signature to this assignment must correspond with the name as it appears on the first
page of the within-mentioned Security in every particular, without alteration or enlargement or any
change whatever.Exhibit 10.19

Exhibit 10.19

EIGHTH AMENDMENT TO LOAN AGREEMENT

AND WAIVER

THIS EIGHTH AMENDMENT TO LOAN AGREEMENT AND
WAIVER (this “Amendment”) is made and
entered into as of June 19, 2009 by and between WESTERN RESERVE BANCORP, INC., an Ohio corporation
(the “Borrower”) and TCF NATIONAL BANK, a national banking association (the
“Bank”).

RECITALS:

A. The Borrower and the Bank are parties to a certain letter loan agreement dated as of
May 5, 2003, as amended by a certain First Amendment to Loan Agreement dated as of March 31, 2005,
as further amended by a certain Second Amendment to Loan Agreement dated as of June 30, 2005, as
further amended by a certain Third Amendment to Loan Agreement dated as of July 20, 2006, as
further amended by a certain letter agreement dated as of February 6, 2007, as further amended by a
certain Fifth Amendment to Loan Agreement and Waiver dated as of June 21, 2007, as further amended
by a certain Sixth Amendment to Loan Agreement dated September 28, 2007, and as further amended by
a certain Seventh Amendment to Loan Agreement dated July 18, 2008 (as amended, the “Loan
Agreement”). All capitalized terms not otherwise defined herein shall have the meanings given
to them in the Loan Agreement.

B. The Borrower has requested that the Bank (i) waive non-compliance with certain financial
covenants of the Loan Agreement, (ii) extend the Maturity Date of the existing $3,000,000 revolving
line of credit from July 1, 2010 to July 1, 2011, (iii) extend the Maturity Date of the existing
$2,000,000 revolving line of credit from July 1, 2010 to July 1, 2011, (iv) modify the financial
covenants, and (v) modify certain other terms and provisions set forth in the Loan Agreement, and
the Bank is willing to do so upon the terms and subject to the conditions set forth herein.

C. All said modifications shall be made upon the terms and subject to the conditions herein
set forth.

AGREEMENTS:

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth,
and for other good and valuable consideration, the nature, receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

Section 1. Conditions Precedent. The effectiveness of all of the amendments and
agreements set forth in this Amendment are subject to condition precedent that the Bank shall have
received all of the following items, each dated such date and in form and substance satisfactory to
the Bank, and each duly executed by all appropriate parties:

(a) This Amendment.

(b) A certificate of the secretary or an assistant secretary of the Borrower,
certifying: (i) the names of the officers of the Borrower authorized to sign this Amendment
and the other documents delivered or to be delivered in connection herewith to which the
Borrower is a party or by which it is bound, (ii) that, except as specifically certified in
such certificate, the Articles of Incorporation and Bylaws of the Borrower have not been
amended, modified, supplemented or restated since the date such documents were last
certified to the Bank, and (iii) a copy of the
resolutions of the Board of Directors of the Borrower authorizing the execution,
delivery and performance by the Borrower of this Amendment and any other documents delivered
or to be delivered in connection herewith to which the Borrower is a party or by which it is
bound, together with all documents evidencing other necessary corporate action.

 

 

 

(c) Such other documents or instruments as the Bank may reasonably require.

Section 2. Waiver. Pursuant to Section 4.16(e) of the Loan Agreement, the
Borrower is required to maintain a ratio of Allowance for loan and lease losses to Non-performing
Loans of not less than 100% at all times after December 31, 2006. The Borrower has advised the
Bank that the actual ratio of Allowance for loan and lease losses to Non-performing Loans as of
March 31, 2009 was 81.36%. The Borrower has requested that the Bank waive its failure to comply
with Section 4.16(e) of the Loan Agreement as of said measurement date. Subject to the
full satisfaction of all of the conditions precedent described in Section 1 above, the Bank
hereby waives the Borrower’s non-compliance with Section 4.16(e) of the Loan Agreement as
of March 31, 2009, and the Bank waives any Event of Default arising from such expressly-described
failure to comply. Except as expressly provided herein, all provisions of the Loan Agreement
remain in full force and effect, and this waiver shall not apply to any other or subsequent failure
to comply with such Section or any other provision of the Loan Agreement.

Section 3. Amendments.

(a) The Loans. Section 1.1 of the Loan Agreement is hereby amended by
deleting the reference to “July 1, 2010” and replacing it with a reference to “July 1,
2011”.

(b) Exemption from Dividends and Distributions Negative Covenant. The
following new sentence is hereby added at the end of Section 4.14 of the Loan
Agreement:

“Notwithstanding the foregoing, the prohibitions and restrictions set
forth in this Section 4.14 shall not apply to any dividends paid
from time to time on any senior preferred stock and/or warrants issued to
and held by the U.S. Department of Treasury (UST) or any other subsequent
shareholders under the Troubled Assets Relief Program (TARP) — Capital
Purchase Program, so long as the issuer of such stock and/or warrants
remains a “Qualifying Financial Institution” under such Program.”

(c) Total Capital Base Covenant. Section 4.15 of the Loan
Agreement is hereby amended by deleting the reference to “$13,500,000” and replacing it with
a reference to “$17,500,000”.

(d) Amendment to Financial Covenant. Section 4.16(e) of the Loan
Agreement is hereby amended and restated in its entirety to read as follows:

“(e) Maintain a ratio of Allowance for loan and lease losses to
Non-performing Loans of not less than 50% at all times.”

(e) Additional Financial Covenant. A new subsection (g) is hereby added
to Section 4.16 of the Loan Agreement to read as follows:

“(g) Maintain a ratio of Allowance for loan and lease losses to Total
Loans and Leases of not less than 1% at all times.”

 

2

 

(f) Additional Defined Term. The following term is hereby added to the
list of defined terms at the end of Section 4.16 in its appropriate alphabetical
order:

““Total Loans and Leases” means, as of any date of
determination, all loans, leases and other extensions of credit, all as
reported in the most recent Call Report of Western Reserve Bank.”

Section 4. Representations; No Default. The Borrower represents and warrants
that: (a) the Borrower has the power and legal right and authority to enter into this Amendment and
has duly authorized the execution and delivery of this Amendment and other agreements and documents
executed and delivered by the Borrower in connection herewith, (b) neither this Amendment nor the
agreements contained herein contravene or constitute an Event of Default, or an event which with
the giving of notice or passage of time or both would mature into an Event of Default (an
“Unmatured Event of Default”), under the Loan Agreement or a default under any other
agreement, instrument or indenture to which the Borrower is a party or a signatory, or any
provision of the Borrower’s Articles of Incorporation or Bylaws or, to the best of the Borrower’s
knowledge, any other agreement or requirement of law, or result in the imposition of any lien or
other encumbrance on any of its property under any agreement binding on or applicable to the
Borrower or any of its property except, if any, in favor of the Bank, (c) no consent, approval or
authorization of or registration or declaration with any party, including but not limited to any
governmental authority, is required in connection with the execution and delivery by the Borrower
of this Amendment or other agreements and documents executed and delivered by the Borrower in
connection herewith or the performance of obligations of the Borrower herein described, except for
those which the Borrower has obtained or provided and as to which the Borrower has delivered
certified copies of documents evidencing each such action to the Bank, (d) no events have taken
place and no circumstances exist at the date hereof which would give the Borrower grounds to assert
a defense, offset or counterclaim to the obligations of the Borrower under the Loan Agreement or
any of the other Loan Documents (defined below), and (e) there are no known claims, causes of
action, suits, debts, liens, obligations, liabilities, demands, losses, costs and expenses
(including attorneys’ fees) of any kind, character or nature whatsoever, fixed or contingent, which
the Borrower may have or claim to have against the Bank, which might arise out of or be connected
with any act of commission or omission of the Bank existing or occurring on or prior to the date of
this Amendment, including, without limitation, any claims, liabilities or obligations arising with
respect to the indebtedness evidenced by the Notes.

Section 5. Reaffirmation of Pledge Agreement. The Borrower hereby reaffirms that the
unpaid balance of the Notes and all of the other obligations of the Borrower under the Loan
Agreement are now and shall hereafter continue to be secured by, among other things, a first
priority, perfected security interest in the “Collateral” described in that certain Pledge
Agreement dated May 5, 2003 executed by the Borrower in favor of the Bank. All of the terms,
conditions, provisions, agreements, requirements, promises, obligations, duties, covenants and
representations of the Borrower under such Pledge Agreement and any and all other documents and
agreements entered into with respect to the obligations of the Borrower under the Loan Agreement
(collectively, the “Loan Documents”) are incorporated herein by reference and are hereby
ratified and affirmed in all respects by the Borrower.

Section 6. Affirmation, Further References. The Bank and the Borrower each acknowledge
and affirm that the Loan Agreement, as hereby amended, is hereby ratified and confirmed in
all respects and all terms, conditions and provisions of the Loan Agreement, except as amended
by this Amendment, shall remain unmodified and in full force and effect. All references in any
document or instrument to the Loan Agreement and the Loan Documents are hereby amended and shall
refer to the Loan Agreement and the Loan Documents, as amended by this Amendment.

 

3

 

Section 7. Merger and Integration, Superseding Effect. This Amendment, from and after
the date hereof, embodies the entire agreement and understanding between the parties hereto and
supersedes and has merged into it all prior oral and written agreements on the same subjects by and
between the parties hereto with the effect that this Amendment, shall control with respect to the
specific subjects hereof and thereof.

Section 8. Severability. Whenever possible, each provision of this Amendment and any
other statement, instrument or transaction contemplated hereby or thereby or relating hereto or
thereto shall be interpreted in such manner as to be effective, valid and enforceable under the
applicable law of any jurisdiction, but, if any provision of this Amendment or any other statement,
instrument or transaction contemplated hereby or thereby or relating hereto or thereto shall be
held to be prohibited, invalid or unenforceable under the applicable law, such provision shall be
ineffective in such jurisdiction only to the extent of such prohibition, invalidity or
unenforceability, without invalidating or rendering unenforceable the remainder of such provision
or the remaining provisions of this Amendment or any other statement, instrument or transaction
contemplated hereby or thereby or relating hereto or thereto in such jurisdiction, or affecting the
effectiveness, validity or enforceability of such provision in any other jurisdiction.

Section 9. Successors. This Amendment shall be binding upon the Borrower, the Bank
and their respective successors and assigns, and shall inure to the benefit of the Borrower, the
Bank and to the respective successors and assigns of the Bank.

Section 10. Costs and Expenses. The Borrower agrees to reimburse the Bank, upon
execution of this Amendment, for all reasonable out-of-pocket expenses (including attorneys’ fees
and legal expenses of counsel for the Bank) incurred in connection with the Loan Agreement,
including in connection with the negotiation, preparation and execution of this Amendment and all
other documents negotiated, prepared and executed in connection with this Amendment, and in
enforcing the obligations of the Borrower under this Amendment, and to pay and save the Bank
harmless from all liability for, any stamp or other taxes which may be payable with respect to the
execution or delivery of this Amendment.

Section 11. Headings. The headings of various sections of this Amendment have been
inserted for reference only and shall not be deemed to be a part of this Amendment.

Section 12. Counterparts. This Amendment may be executed in several counterparts as
deemed necessary or convenient, each of which, when so executed, shall be deemed an original,
provided that all such counterparts shall be regarded as one and the same document, and any party
to this Amendment may execute any such agreement by executing a counterpart of such agreement.

Section 13. Governing Law. This Amendment shall be governed by the internal laws of
the State of Minnesota, without giving effect to conflict of law principles thereof.

Section 14. No Waiver. Except as expressly provided for above, nothing contained in
this Amendment (or in any other agreement or understanding between the parties) shall constitute a
waiver of, or shall otherwise diminish or impair, the Bank’s rights or remedies under the Loan
Agreement or any of the other Loan Documents, or under applicable law.

[Remainder of page intentionally left blank;

signature page follows]

 

4

 

IN WITNESS WHEREOF, the parties hereto have caused this Eighth Amendment to Loan Agreement and
Waiver to be executed as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	BORROWER:
	 	WESTERN RESERVE BANCORP, INC., 

an Ohio corporation	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Edward J. McKeon	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Printed Name:
	 	Edward J. McKeon	 	 
	 

	 	 	 	Its:  President & CEO	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Cynthia A. Mahl	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Printed Name:
	 	Cynthia A. Mahl	 	 
	 

	 	 	 	Its:   Executive Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	BANK:
	 	TCF NATIONAL BANK,

a national banking association	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ John Jagels	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Printed Name:
	 	John Jagels	 	 
	 

	 	 	 	Its:  Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Guy J. Rau	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Printed Name:
	 	Guy J. Rau	 	 
	 

	 	 	 	Its:   Senior Vice President	 	 

 

5

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