Document:

<PAGE>
                                                                    EXHIBIT 10.9

             NAMED EXECUTIVE OFFICER SALARY AND BONUS ARRANGEMENTS

         On November 16, 2004, the Compensation Committee of Community Central
Bank Corporation (the "Corporation") approved the base salaries for 2005, cash
bonuses for 2004 and incentive stock option grants for the named executive
officers of the Corporation, all as set forth in the following table:

<TABLE>
<CAPTION>
                                                          2005        2004 Cash           Shares of
Executive Officer              Title                      Salary       Bonus            Stock Options
-----------------              -----                      ------       -----            -------------
<S>                        <C>                            <C>         <C>               <C>
David A. Widlak            President and CEO
                           Community Central
                           Bank Corporation               $258,750    $31,250               12,000

Ronald R. Reed             President and CEO
                           Community Central
                           Bank                           $181,125    $22,500                6,000

Ray T. Colonius            Treasurer and CFO
                           Community Central
                           Bank Corporation and
                           Community Central Bank         $124,200    $12,500                5,000
</TABLE>

         Bonuses paid and stock option grants awarded to the named executive
officers are at the discretion of the Compensation Committee. The Compensation
Committee will review the named executive officer's individual performance as
well as the Corporation's and Bank's overall performance in making bonus and
stock option grant determinations, but does not look at any particular factor to
make its determination. As a general guideline, the Compensation Committee
establishes a total bonus pool equal to approximately ten percent of a
minimum-targeted net income base, which is set by the Compensation Committee at
the beginning of the fiscal year. The actual amount of money in the total bonus
pool may be increased or decreased at the end of the year at the discretion of
the Compensation Committee.<PAGE>

                                                                   EXHIBIT 10.10

                        CURRENT DIRECTOR FEE ARRANGEMENTS

         Each member of the Board of Directors currently receives a monthly
retainer of $2,000, in the aggregate, for services as a director of the
Corporation and the Bank. Non-employee directors of the Corporation and the Bank
also receive compensation for their services as committee members. Non-employee
directors of the Executive, Audit, Compensation and Nominating Committees of the
Corporation and the Bank each receive $500 per meeting attended, except for the
Chairman of the Audit Committee who receives $2,000 per month and the Chairman
of the Nominating Committee who receives $1,000 per meeting attended.

         Nonemployee directors serving on the Bank's Loan and Asset/Liability
Committees each receive $50 per meeting attended, except for the chairmen of
such committees who each receive $100 per meeting attended. Director Bobby L.
Hill receives $1,000 a month for serving as Chairman of the Board of Community
Central Mortgage Company, LLC, the Corporation's mortgage company subsidiary and
directors Salvatore Cottone, Ronald Reed and David Widlak each receive $500 a
month for serving as advisory board members to the mortgage company.

         Under the Corporation's 2002 Incentive Plan, which was approved by the
stockholders at the Corporation's annual meeting held in April 2002, each
director is awarded 300 shares of common stock of the Corporation annually. The
awards are made each year, on the first business day of the month following the
annual meeting of stockholders, from 2002 through 2010, during the period that
the director serves on the Board.<PAGE>

                                                                   EXHIBIT 10.10

          SUMMARY SHEET FOR DIRECTOR COMPENSATION AND EXECUTIVE CASH
             COMPENSATION AND PERFORMANCE CRITERIA UNDER EXECUTIVE
                           OFFICERS VARIABLE PAY PLAN

DIRECTOR COMPENSATION

The Company pays its Chairman of the Board an annual retainer of $50,000 and
provides him an office that has a rental value of approximately $6,000 per year.
The Company pays each of its other non-employee directors an annual retainer of
$25,000. The Company's President and Chief Executive Officer is not separately
compensated outside of his employment agreement for service as a director.

EXECUTIVE CASH COMPENSATION

The following table sets forth the 2005 base salary of each of the Company's
executive officers, together with the cash performance bonus paid by the Company
to each of its executive officers for services rendered to the Company in 2004:

<TABLE>
<CAPTION>
                                                                       2004 CASH
                                                       2005 BASE     PERFORMANCE
                                                        SALARY          BONUS
                                                        ------          -----
<S>                                                     <C>           <C>
Arthur M. Coffey                                        $325,000        $30,000
   President and Chief Executive Officer

Anupam Narayan                                          $225,000        $ -  (1)
   Executive Vice President, Chief Investment
   Officer and Chief Financial Officer

John M. Taffin                                          $178,500        $17,850
   Executive Vice President, Hotel Operations

David M. Bell                                           $155,000        $6,508
   Executive Vice President, Development

Thomas L. McKeirnan                                     $145,000        $6,075
   Senior Vice President, General
   Counsel, and Secretary
</TABLE>

-----------------------

(1)   Mr. Narayan joined the Company in November 2004 and was not eligible for a
      2004 cash performance bonus.

PERFORMANCE CRITERIA UNDER EXECUTIVE OFFICERS VARIABLE PAY PLAN

On March 17, 2005, the Compensation Committee of the Company's Board of
Directors (the "Compensation Committee") approved the Company's Executive
Officers Variable Pay Plan, effective January 1, 2005 (the "Plan"). The Plan
provides for annual variable incentive pay for the Company's President and Chief
Executive Officer, Executive Vice Presidents and Senior

<PAGE>

Vice President in connection with objective goal achievement.

There are two components to the Plan. The first is the Company's financial
performance, which will be evaluated based on specific performance goals related
to a combination of one or more financial measures of the Company's performance.
The Compensation Committee will determine the financial measures and specific
performance goals applicable to each executive officer. These financial measures
may include but will not necessarily be limited to Funds from Operations ("FFO)
to Equity Ratio, Earnings per Share ("EPS"), and Earnings before Interest,
Taxes, Depreciation and Amortization ("EBITDA").

The second component is individual performance, which will be evaluated based on
performance goals related to three to five performance areas for each executive
officer. The Compensation Committee will determine the performance areas and the
specific performance goals applicable to each executive officer. These areas may
include financial and other measures such as but not necessarily limited to
financial performance of a particular division, completion of certain strategic
goals, associate and guest satisfaction scores and hotel quality ratings.

For each Company and individual performance goal specified by the Compensation
Committee for an executive officer, there will be a target and maximum bonus
amount payable based on a percentage of the executive officer's annual salary.
For each performance goal, there will be a minimum achievement required before
the executive officer will be eligible for any bonus related to that goal.

An executive officer must have been employed by the Company during the
applicable year and be employed by the Company at the time of payment in order
to be eligible for a bonus under the Plan. All payments under the Plan are
subject to previous approval by the Compensation Committee. The Plan provides
that, if the Compensation Committee determines that circumstances warrant a
change, it may discretionarily increase or decrease any bonus that would
otherwise be awarded to an executive officer.

On March 17, 2005, the Compensation Committee specified certain Company and
individual performance goals for each of the executive officers in accordance
with the Plan. The target bonuses available to the Company's executive officers
under the Plan for achievement of Company and individual goals in 2005, measured
as a percentage of salary, range from 30% to 60%. The maximum bonuses available,
measured as a percentage of salary, are 100% for Mr. Coffey, 57% for Mr.
Narayan, 50% for Mr. Bell, 50% for Mr. Taffin, and 36% for Mr. McKeirnan.

                                       2<PAGE>
                                                                   EXHIBIT 10.38

                               PURCHASE AGREEMENT

         THIS PURCHASE AGREEMENT is dated February 11, 2005. Its parties are
NORTH POINTE FINANCIAL SERVICES, INC., a Michigan corporation ("Buyer"), S.
JAMES CLARKSON ("Clarkson"), and PETCOFF FINANCIAL SERVICES, L.L.C., a Michigan
limited liability company ("PFS"). Clarkson and PFS are referred to collectively
as the "Sellers".

                                   BACKGROUND

         Northwestern Zodiac Limited Partnership, a Michigan limited partnership
("Partnership"), owns the real property at 28819 Franklin Road, Southfield,
Michigan 48034 ("Real Property").

         The Partnership's partners are as follows:

         NAME                TYPE OF INTEREST             PERCENTAGE
         Clarkson            General partner                  30%
         Clarkson            Limited partner                  30%
         PFS                 Limited partner                  40%

         Sellers desire to sell their interests in the Partnership to Buyer, and
Buyer desires to purchase these interests from Seller, upon the terms set forth
below.

                                      TERMS

         The parties agree as follows:

1.       DEFINITIONS AND ATTACHMENTS

         1.01.    DEFINITIONS.

These defined terms are used in this Agreement:

         "Buyer" means North Pointe Financial Services, Inc., a Michigan
corporation.

         "Clarkson" means S. James Clarkson.

         "Closing Date -- General Partnership Interest" means that date on which
Buyer is to make its payment under this Agreement for Clarkson's general
partnership interest and he is to assign that Partnership Interest to Buyer.
This will take place on or about the date that the Lender gives its approval of
the sale of the General Partnership Interest to Buyer.

         "Closing Date -- Limited Partnership Interests" means that date on
which Buyer is to make its payments under this Agreement for Clarkson's and
PFS's limited partnership

<PAGE>

interests and they are to assign those Partnership Interests to Buyer. This will
take place on or about the date that the parties sign this Agreement.

         "Closing Date -- Clarkson Limited Partnership Interest" means that date
on which Buyer is to make its payments under this Agreement for Clarkson's
limited partnership interest and he is to assign that Partnership Interest to
Buyer. This will take place on or about the date that the parties sign this
Agreement.

         "Closing Date -- PFS Limited Partnership Interest" means that date on
which Buyer is to make its payments under this Agreement for PFS's limited
partnership interest and it is to assign that Partnership Interest to Buyer.
This will take place on or about the date that the parties receive the Third
Party Approvals.

         Closing Dates" means the Closing Date -- General Partnership Interest,
the Closing Date -- Clarkson Limited Partnership Interest, and the Closing Date
-- PFS Limited Partnership Interest, collectively.

         "FCA" means Financial Corporation of America, the manager of the Real
Property under a contract with the Partnership.

         "General Partnership Interest" means the general partnership interest
in the Partnership owned by Clarkson.

         "IRS" means the Internal Revenue Service.

         "Lender" means IDS Life Insurance Company.

         "Lien" means, with respect to any asset, any mortgage, lien, pledge,
charge, security interest, encumbrance or other adverse claim of any kind in
respect of that asset other than (i) Liens arising by operation of law and in
the ordinary course of business, such as mechanic's, carrier's or materialmen's
liens (none of which would materially impair or interfere with the use or
operation of the asset); (ii) Liens for Taxes which are either not delinquent or
are being contested in good faith; and (iii) Liens which secure indebtedness for
borrowed money. For the purposes of this Agreement, a Lien will include the
interest of a vendor or lessor in an asset under any conditional sale agreement,
capital lease or other title retention agreement.

         "Limited Partnership Interests" means the limited partnership interests
in the Partnership owned by Clarkson and PFS.

         "Material Adverse Effect" means a reduction of greater than five
percent (5%) in the value of any asset.

         "Mortgage" means the Amended and Restated Mortgage granted by the
Partnership to Lender on June 19, 2001 encumbering the Real Property.

                                       2
<PAGE>

         "Partnership" means Northwestern Zodiac Limited Partnership, a Michigan
limited partnership.

         "Partnership Interests" means all existing partnership interests in the
Partnership.

         "Person" means an individual business entity or including a government
unit.

         "PFS" means Petcoff Financial Services, L.L.C., a Michigan limited
liability company.

         "Purchase Price" means the purchase price to be paid by Buyer to
Sellers for all their Partnership Interests, which is in the aggregate
$1,500,000

         "Real Property" means the real property at 28819 Franklin Road,
Southfield, Michigan 48034.

         "Sellers" mean Clarkson and PFS when referred to collectively.

         "Taxes" means all taxes of any sort levied or assessed by any
governmental unit on any basis, including all penalties and additions to tax and
interest on those assessments. Except as otherwise stated in this Agreement,
however, Taxes shall not include federal income taxes.

         "Tax Returns" means all returns and reports (including elections,
declarations, disclosures, schedules, estimates, and information returns)
required to be supplied to or filed with a taxing authority relating to Taxes.

         "Third Party Approvals" means approvals of the purchase of Clarkson's
General Partnership Interest and PFS's Limited Partnership Interest from those
investment bankers, commercial bankers and other parties, whose approvals Buyer
deems necessary or appropriate.

         1.02.    ATTACHMENTS.

The following attachments are referenced in this Agreement:

ATTACHMENT NO.         ATTACHMENT DESCRIPTION
         1.            Assignment of Clarkson's Limited Partnership Interest
         2.            Assignment of PFS's Limited Partnership Interest
         3.            Assignment of Clarkson's General Partnership Interest
         4.            Disclosure regarding material contracts

                                       3
<PAGE>

2.       PURCHASE AND SALE OF PARTNERSHIP INTERESTS

         2.01. PURCHASE AND SALE. Subject to this Agreement's terms, Sellers
shall sell to Buyer and Buyer shall purchase from Seller, the Partnership
Interests on the Closing Dates (as described below), free and clear from of any
Liens. The Purchase Price for the Partnership Interests is $1,500,000. On the
Closing Dates, Sellers will assign to Buyer valid title to their Partnership
Interests free of any Lien, limitation or restriction. The Purchase Price will
be paid as follows:

         (a) Buyer will pay $450,000 to Clarkson for his General Partnership
Interest on the Closing Date -- General Partnership Interest.

         (b) Buyer will pay $450,000 to Clarkson for his Limited Partnership
Interest on the Closing Date -- Clarkson Limited Partnership Interest.

         (c) Buyer will pay $600,000 to PFS for its Limited Partnership Interest
on the Closing Date -- PFS Limited Partnership Interest.

         2.02.    CLOSING AND DELIVERABLES.

         (a) The Closing Date -- Clarkson Limited Partnership Interest shall
take place on the date that this Agreement is signed, at Buyer's offices, at a
time on which the parties agree. The Closing Date -- PFS Limited Partnership
Interest shall take place within 2 business days of the date that Buyer obtains
the Third Party Approvals. The Closing Date -- General Partnership Interest
shall take place within 2 business days of Lender granting its written approval
of the sale of the General Partnership Interest to Buyer.

         (b) On the Closing Date -- Clarkson Limited Partnership Interest, Buyer
shall deliver to Clarkson:

                  (1) $450,000 in immediately available funds by certified or
                  official bank check or by electronic transfer of funds payable
                  to the order of Clarkson.

                  (2) A certificate of good standing for Buyer, issued by the
                  Michigan Department of Labor and Economic Growth, Bureau of
                  Commercial Services.

                  (3) A Certificate of an officer of Buyer dated as of that
                  Closing Date certifying the resolutions of Buyer's board of
                  directors (i) authorizing this Agreement, its execution,
                  delivery and performance, and (ii) the incumbency and
                  signature of the officer executing this Agreement.

                  (4) Any other documents reasonably necessary to put this
                  transaction into effect.

                                       4
<PAGE>

         (c) On the Closing Date -- PFS Limited Partnership Interest, Buyer
shall deliver to PFS:

                  (1) $600,000 in immediately available funds by certified or
                  official bank check or by electronic transfer of funds payable
                  to the order of PFS.

                  (2) A certificate of good standing for Buyer, issued by the
                  Michigan Department of Labor and Economic Growth, Bureau of
                  Commercial Services.

                  (3) Buyer's certification that its representations and
                  warranties are true as of that Closing Date and that all
                  conditions for PFS's benefit have been satisfied or waived.

                  (4) A certificate of an officer of Buyer dated that Closing
                  Date certifying the resolutions of Buyer's Board of Directors
                  (i) Authorizing this Agreement, its execution, delivery and
                  performance, and (ii) The incumbency and signature of the
                  officer executing this Agreement.

                  (5) Any other documents reasonably necessary to put this
                  transaction into effect.

         (d) On the Closing Date -- Clarkson Limited Partnership Interest,
Clarkson shall deliver to Buyer:

                  (1) An executed Assignment of his Limited Partnership Interest
                  in the form at Attachment 2.

                  (2) All Partnership books and records in Clarkson's possession
                  that are not already in the possession of Buyer, PFS, or FCA.

                  (3) A certificate of good standing for the Partnership, issued
                  by the Michigan Department of Labor and Economic Growth,
                  Bureau of Commercial Services.

                  (4) Any other documents reasonably necessary to put this
                  transaction into effect.

         (e) On the Closing Date -- PFS Limited Partnership Interest, PFS shall
deliver to Buyer:

                  (1) An executed Assignment of Limited Partnership Interest in
                  the form at Attachment 3.

                  (2) All partnership books and records in PFS's possession.

                                       5
<PAGE>

                  (3) PFS's certification that its representations and
                  warranties remain true as of that Closing Date and that all
                  conditions for Buyer's benefit have been satisfied or waived.

                  (4) A certificate of good standing for PFS, issued by the
                  Michigan Department of Labor and Economic Growth, Bureau of
                  Commercial Services.

                  (5) Any other documents reasonably necessary to put this
                  transaction into effect.

         (f) On the Closing Date -- General Partnership Interest, Buyer shall
deliver to Clarkson:

                  (1) $450,000 in immediately available funds by certified or
                  official bank check or by electronic transfer of funds payable
                  to the order of Clarkson.

                  (2) Buyer's certification that its representations and
                  warranties are true as of that Closing Date and that all
                  conditions for Clarkson's benefit have been satisfied or
                  waived.

                  (3) Any other documents reasonably necessary to put this
                  transaction into effect.

                  (4) Written consent from the Lender allowing the transfer of
                  the General Partnership Interests without assessment of a
                  prepayment or other penalty.

                  (5) If Buyer is unable to obtain a release of Clarkson's
                  guaranty to Lender, Buyer will cause a person satisfactory to
                  Clarkson to provide an indemnity of Clarkson of claims under
                  the guaranty, on terms stated in an Indemnity Agreement.

         (g) On the Closing Date -- General Partnership Interest, Clarkson shall
deliver to Buyer: -

                  (1) An executed Assignment of his General Partnership Interest
                  in the form at Attachment 2.

                  (2) Clarkson's certification that his representations and
                  warranties remain true as of that Closing Date and that all
                  conditions for Buyer's benefit have been satisfied or waived.

                                       6
<PAGE>

         2.03. EFFECT. The transactions described in this Agreement are
transfers of partnership interests and are not deemed to affect a dissolution of
the partnership.

         2.04. RIGHT TO ASSIGN. Buyer has the right to assign some or all of its
rights and obligations under this Agreement to an affiliate.

3.       SELLERS' REPRESENTATIONS AND WARRANTIES

Sellers each make the following representations and warranties to Buyer, to the
best of their knowledge without further investigation. References to a "Seller"
mean each of them. These representations and warranties are effective as of this
Agreement's date and continue through the Closing Dates. Sellers make these
representations and warranties severally and not jointly, understanding that
Buyer is relying upon them.

         3.01. AUTHORIZATION. The execution, delivery and performance of this
Agreement are within Seller's powers. This Agreement is a valid agreement of
Seller enforceable by Buyer in accordance with its terms, except (i) bankruptcy,
insolvency, moratorium or other similar laws may affect the enforcement of
creditors' rights generally and (ii) general equitable principles may limit the
availability of equitable remedies.

         3.02. NON-CONTRAVENTION. Sellers' execution, delivery and performance
of this Agreement does not and will not (a) violate any applicable law, rule,
regulation, judgment, injunction, order or decree or alter or, impair any
license, franchise, permit or other similar authorization held by Seller, (b)
require any consent or other action by any Person under, constitute a default
under, or give rise to any right of termination, cancellation or acceleration of
any right or obligation of Seller or the Partnership or to a loss of any benefit
to which Seller is entitled under, any agreement or other instrument binding
upon Seller or the Partnership or their properties or assets, other than the
consent of Lender, which Buyer will obtain at its sole expense, or (c) result in
the creation or imposition of any Lien on any asset of the Partnership.

         3.03. OWNERSHIP OF PARTNERSHIP INTEREST. Sellers are the sole owners of
their respective Partnership Interests, free and clear of any Lien and any other
limitation or restriction. They each have the power to transfer and deliver to
Buyer at the Closing valid title to the Partnership Interests free and clear of
any Lien and any such limitation or restriction.

         3.04. PARTNERSHIP EXISTENCE AND POWER. The Partnership is a limited
partnership duly organized, validly existing and in good standing under Michigan
law. Sellers have made available to Buyer complete copies of the Partnership's
Certificate of Limited Partnership and Limited Partnership Agreement that are
currently in effect.

         3.05. ABSENCE OF CERTAIN CHANGES. Since the date of its last financial
statements, the Partnership's business has been conducted in the ordinary course
consistent with past

                                       7
<PAGE>

practices. Notwithstanding the parties acknowledging that the Building is
managed by a corporation that is owned by an officer and director of Buyer, to
the best of each Seller's knowledge, there has not been:

         (a) any event, occurrence, development or state of circumstances or
facts that has had or reasonably could be expected to cause a Material Adverse
Effect;

         (b) any declaration, setting aside or payment of any distribution with
respect to the Partnership Interests, or any repurchase, redemption or other
acquisition of a Partnership Interest, or the issuance of any new partnership
interest;

         (c) any amendment of the articles of organization or Partnership
Agreement or similar governing instruments or outstanding security of
Partnership;

         (d) any incurrence, assumption or guarantee by the Partnership of any
indebtedness for borrowed money;

         (e) any creation or assumption by the Partnership of any Lien on any
asset other than in the ordinary course of business;

         (f) any making of any loan, advance or capital contributions to or
investment of any nature in any other Person;

         (g) any material reported damage, destruction or other casualty loss
affecting the business or assets of the Partnership;

         (h) other than in the ordinary course of business, any transaction or
commitment made, or any agreement entered into, by the Partnership relating to
its assets or business (including the acquisition or disposition of any assets)
or any relinquishment by the Partnership of any contract or other right, in
either case, involving more than $5,000 over its noncancellable term;

         (i) any change in any method of accounting or accounting practice by
the Partnership in any material respect, except for any such change after this
Agreement's date required by law or by reason of a concurrent change in
statutory accounting principles, or any change in depreciation or amortization
policies or rates adopted by it;

         (j) any material change in systems of internal accounting controls;

         (k) any transaction or commitment made to acquire or dispose of the
Real Property; or

         (l) any agreement, understanding or commitment to take any action
described in this Section.

                                       8
<PAGE>

         3.06. NO UNDISCLOSED MATERIAL LIABILITIES. The Partnership has no
liabilities of any kind, other than the Mortgage and liabilities incurred in the
ordinary course of the Partnership's business, which Sellers have not disclosed
to Buyer in writing.

         3.07. MATERIAL CONTRACTS. All of the Partnership's material contracts
are listed at Attachment 4. These agreements are valid and binding agreements of
the Partnership and are fully effective. There are no defaults or breaches in
any material respect of the agreements' terms.

         3.08. LITIGATION. There is no action, suit, investigation or proceeding
pending before any court or arbitrator or any governmental or regulatory body,
agency or official, or threatened in writing against or affecting the
Partnership, or any of its partners, involving any of its properties or
businesses, whether at law or in equity. There are no outstanding judgments,
orders, decrees, stipulations or awards (whether rendered by a court,
administrative agency, or by arbitration, pursuant to a grievance or other
procedures) against or relating to the Partnership that contain any remaining
restrictions or obligations to perform. There is no pending or action threatened
in writing, proceeding or investigation with respect to the Partnership, or any
other Person which questions the validity of this Agreement or the transactions
it contemplates

         3.09. FINDERS' FEES. There is no investment banker, broker, finder or
other intermediary that has been retained by or is authorized to act on behalf
of the Partnership or any Seller who is entitled to any finder's fee or
commission from Buyer in connection with the transactions contemplated by this
Agreement.

         3.10. REAL PROPERTY. The Partnership does not, own, lease or sublease
any real property other than the Real Property.

         3.11. EMPLOYEES, COMPENSATION AND LABOR MATTERS. The Partnership has no
employees, and does not maintain, contribute to, nor is it obliged to contribute
to, any employee benefit pension plan or any Employee Welfare Benefit Plan as
these terms are defined in Sections 3(2) and 3(1) respectively of the Employee
Retirement Income Security Act of 1974, as amended.

         3.12. FULL DISCLOSURE. There is no fact or condition known to Sellers
that has had a Material Adverse Effect or to their knowledge could reasonably be
expected to have a Material Adverse Effect that has not been disclosed to Buyer
in writing.

         3.13. TAXES. The Partnership has no federal income tax liability for
any income taxes unpaid to IRS or any other taxing authority. Each party will
provide cooperation and assistance to the others for the submission of tax
returns and tax information for certain federal taxes. This cooperation and
assistance obligations will survive this Agreement and continue in full force
and effect for a period of three (3) years after the Closing Date.

                                       9
<PAGE>

         3.14. ENVIRONMENTAL MATTERS. No notice, notification, demand, request
for information, citation, summons, complaint or order has been received or, to
the knowledge of the Partnership, has been threatened in writing or filed by any
governmental entity or other party with respect to any (i) alleged violation of
any environmental law by the Partnership, or (ii) alleged failure by the
Partnership to have any environmental permit, certificate, license, approval,
registration, or authorization required in connection with the conduct of its
business. The Partnership does not have any material environmental liabilities
and there has been no release of hazardous substances into the environment by
the Partnership that has had, or would have a Material Adverse Effect on the
Partnership.

         3.15. ACCELERATION OF OBLIGATIONS. Subject to the Lender's consent to
these transactions, this Agreement's execution and the consummation of the
transactions that it describes will not result in any material acceleration or
increase of any interest rates or indebtedness, breach of any contract, lease,
mortgage or any other obligation of the Partnership. No consent of a party to
any such contract, lease, mortgage or any other obligation of the Partnership is
required to close these transactions, other than that of the Lender.

         3.16. LIMITATIONS. Notwithstanding anything in this Agreement to the
contrary, the following limitations apply to Sellers' representations and
warranties:

         (a) Buyer's Knowledge. If Buyer has or obtains actual knowledge prior
to Closing that any representation or warranty made by either Seller is false,
Buyer shall provide written notice to both Sellers prior to Closing and provide
Sellers with a reasonable opportunity to cure. In the event of Sellers' failure
to cure, Buyer may, at its sole option, terminate this Agreement. In the event
Buyer has knowledge prior to Closing that any representation or warranty by
either Seller is false, and Buyer fails or elects not to provide written notice
to Sellers, Buyer shall be deemed to have waived any right to pursue any claim
with respect to such matter.

         (b) Termination. The representations, warranties and covenants of Buyer
and Seller contained in this Agreement shall survive the Closing for a period of
twelve (12) months from the Closing Date except that representations, warranties
and covenants regarding title to the Partnership Interests and taxes shall
survive the Closing for a period of six (6) years. In the event no action or
proceeding is commenced to enforce the remedies provided for in this Agreement
within such time period, the same shall thereafter be forever barred, and deemed
void and of no force.

         (c) Limitations. Sellers' liability under this Article shall be limited
to the amount of the Purchase Price less insurance proceeds (which must first be
pursued before execution of any claim against Sellers) and less any tax
benefits. Lost profits, consequential or exemplary damages may not be the
subject of any claim for indemnification.

                                       10
<PAGE>

4.       PFS'S REPRESENTATIONS AND WARRANTIES

PFS makes the following representations and warranties to Buyer, to the best of
its knowledge. These representations and warranties are made in addition to
those made in the preceding paragraph. These representations and warranties are
effective as of this Agreement's date and continue through the Closing Dates.
PFS makes these representations and warranties understanding that Buyer is
relying upon them.

         4.01. COMPANY EXISTENCE AND POWER. PFS is a limited liability company
duly organized, validly existing and in good standing under Michigan law. PFS
has the power to enter into this Agreement. PFS has made available to Buyer
complete copies of its Articles of Organization and Operating Agreement that are
currently in effect.

         4.02. CORPORATE AUTHORIZATION. PFS's execution, delivery and
performance of this Agreement are within its powers and have been duly
authorized by all necessary action on PFS's part.

         4.03. NON-CONTRAVENTION. PFS's execution, delivery and performance of
this Agreement does not and will not violate any of its organizing or operating
documents.

5.       BUYER'S REPRESENTATIONS AND WARRANTIES

Buyer makes the following representations and warranties to Buyer, to the best
of its knowledge. These representations and warranties are effective as of this
Agreement's date and continue through the Closing Dates. Buyer makes these
representations and warranties understanding that Sellers are relying upon them.

         5.01. CORPORATE EXISTENCE AND POWER. Buyer is a corporation duly
incorporated, validly existing and in good standing under Michigan law. Buyer
has the power to enter into this Agreement.

         5.02. CORPORATE AUTHORIZATION. Buyer's execution, delivery and
performance of this Agreement are within Buyer's corporate powers and have been
duly authorized by all necessary corporate action on Buyer's part. This
Agreement is a valid agreement of Buyer enforceable in accordance with its
terms, except (a) bankruptcy, insolvency, moratorium or other similar laws may
affect the enforcement of creditors' rights generally and (b) general equitable
principles may limit the availability of equitable remedies.

         5.03. NON-CONTRAVENTION. Buyer's execution, delivery and performance of
this Agreement do not and will not (a) violate the Buyer's articles of
incorporation or bylaws, (b) violate any applicable law, rule, regulation,
judgment, injunction, order or decree or any license, franchise, permit or other
similar authorization held by Buyer, or (c) require any consent or other action
by any Person under, constitute a default under, or give rise to any

                                       11
<PAGE>

right of termination, cancellation or acceleration of any right or obligation of
Buyer under, any agreement or other instrument binding upon Buyer or its
properties or assets.

         5.04. MERGER OF TITLE. Buyer acknowledges that if it merges with the
Partnership, or the Partnership should otherwise cease to exist, Buyer's
leasehold interest will merge with its fee interest in the Real Property.

6.       SELLERS' COVENANTS

         6.01. CONDUCT OF THE PARTNERSHIP. From this Agreement's date until the
final Closing Date, except for the transactions contemplated by this Agreement,
Sellers shall cause the Partnership to conduct its business in the ordinary
course and to use commercially reasonable efforts to preserve intact its
business organization and relationships with third parties. Sellers have no
obligations to contribute any money to the Partnership for any repairs,
improvements or replacements what so ever.

         6.02. ACCESS TO INFORMATION. From this Agreement's date until the
Closing Dates, Sellers will: (a) give Buyer, its counsel, financial advisors,
accountants and actuaries and other authorized representatives access during
normal working hours to the offices, properties, books and records of the
Partnership, (b) furnish to Buyer, its counsel, financial advisors, accountants
and actuaries and other authorized representatives such available financial and
operating data and other information relating to the Partnership as such Persons
may reasonably request, and (c) instruct the employees, counsel and financial
advisors of Sellers and the Partnership to cooperate with Buyer in its
investigation and analysis of the Partnership and the Business.

         6.03. BUSINESS FILES. On the Closing Date, Sellers will transfer to
Buyer all business files and records in their possession in connection with the
operation of the Partnership's business.

         6.04. LENDER'S APPROVAL. Buyer will by the Closing Date -- General
Partnership Interest, Lender's written consent to Buyer's purchase of the
Partnership Interests and confirmation that the transactions described in this
Agreement will not require the Partnership to pay a prepayment penalty.

         6.05. REAL PROPERTY CONDITION "AS IS." Sellers make no representation
or warranty as to the physical condition of the Building or the Real Property,
the same being accepted "as is." Buyer has occupied the Building as a tenant and
an officer and director of Buyer manages the Real Property, as therefore Buyer
is familiar with the Real Property's condition.

                                       12
<PAGE>

7.       COVENANTS OF BUYER AND SELLERS

         7.01. REASONABLE EFFORTS. The parties will use commercially reasonable
efforts to take, or cause to be taken, all actions and to do, or cause to be
done, all things necessary or desirable under applicable laws and regulations to
consummate the transactions contemplated by this Agreement, subject to its
terms.

         7.02. FURTHER ASSURANCES. Sellers and Buyer will each execute and
deliver any other documents, certificates, agreements and other writings and to
take any other actions as may be necessary or desirable in order to consummate
or implement expeditiously the transactions contemplated by this Agreement.

         7.03. CONFIDENTIALITY. Between this Agreement's date and the Closing,
each party will maintain in confidence, and cause its directors, officers,
employees, agents, and advisors to maintain in confidence, any written or oral
or other information obtained in confidence from another party in connection
with this Agreement.

8.       TERMINATION

         8.01. GROUNDS FOR TERMINATION. This Agreement may be terminated at any
time prior to the Closing:

         (a) by written agreement of the parties; or

         (b) by any party not itself in default of this Agreement's terms, if
the Closing shall not have been consummated on or before 180 days from this
Agreement's date, or

         (c) by any party if the Lender's conditions for approving the transfer
of the General Partnership Interest are unsatisfactory to the party, in that
party's sole discretion.

         8.02. EFFECT OF TERMINATION. If this Agreement is terminated as
permitted by this Section, termination shall be without liability of either
party (or any stockholder, director, officer, employee, agent, consultant or
representative of such party) to the other party to this Agreement.

9.       MISCELLANEOUS

         9.01. NOTICES AND OTHER COMMUNICATIONS. All notices, requests and other
communications to any party shall be in writing (including facsimile
transmission) and shall be given,

         If to Buyer, to:           North Pointe Financial Services, Inc.
                                    28819 Franklin Road
                                    P.O. Box 2223

                                       13
<PAGE>

                                    Southfield, MI 48037-2223
                                    Attention:  B. Matthew Petcoff, Executive
                                    Vice President
                                    Facsimile:  248-359-9937

         with a copy to:            Francis C. Flood, Esq.
                                    Foster, Swift, Collins & Smith, P.C.,
                                    32300 Northwestern Highway, Suite230
                                    Farmington Hills, MI  48334
                                    Facsimile: (248) 851-7504

         If to Clarkson, to:        Mr. James Clarkson
                                    153 Muirfield Circle
                                    Naples, FL 34113
                                    Facsimile: _______________

         with a copy to:            Kenneth J. Clarkson, Esq.
                                    Evans & Luptak
                                    7457 Franklin Road, Suite 250
                                    Bloomfield Hills, MI  48301
                                    Facsimile: (248) 406-5111

         If to PFS:                 Petcoff Financial Services, LLC
                                    28819 Franklin Road
                                    P.O. Box 2223
                                    Southfield, MI 48037-2223
                                    Attention:  James G. Petcoff, Member
                                    Facsimile:  248-359-9937

All such notices, requests and other communications shall be deemed received on
the date of receipt by its recipient if received prior to 5 p.m. in the place of
receipt and that day is a business day in the place of receipt. Otherwise, any
such notice, request or communication shall be deemed not to have been received
until the next succeeding business day in the place of receipt.

         9.02.    AMENDMENTS AND WAIVERS.

         (a) Any provision of this Agreement may be amended or waived prior to
the Closing Date if, but only if, the amendment or waiver is in writing and is
signed, in the case of an amendment, by each party to this Agreement, or in the
case of a waiver, by the party against whom the waiver is to be effective.

         (b) No failure or delay by any party in exercising any right, power or
privilege under this Agreement shall operate as a waiver of that right, power or
privilege. No single or partial exercise of any right, power or privilege shall
preclude any other or further exercise of

                                       14
<PAGE>

that right, power or privilege or the exercise of any other right, power or
privilege. This Agreement's rights and remedies shall be cumulative and not
exclusive of any rights or remedies provided by law.

         9.03. EXPENSES. All costs and expenses incurred in connection with this
Agreement and the transactions it contemplates shall be paid by the party
incurring the cost and expense.

         9.04. SUCCESSORS AND ASSIGNS. This Agreement's terms shall both bind
and benefit the parties and their respective successors and assigns. No party
shall assign, delegate or otherwise transfer any of its rights or obligations
under this Agreement without the prior written consent of the other party.
Notwithstanding the foregoing, Buyer may assign all or any portion of its
rights, interest or obligations under this Agreement to any of its affiliates
without the prior written consent of Sellers, provided that the assignment shall
not release Buyer from or in any manner limit Buyer's obligations under this
Agreement and further provided that any such assignment shall not cause the
disapproval or delay of these transactions by any judicial or regulatory body
having jurisdiction over the matter.

         9.05. GOVERNING LAW. Michigan law governs this Agreement.

         9.06. COUNTERPARTS; THIRD PARTY BENEFICIARIES. This Agreement may be
signed in any number of counterparts, each of which shall be an original, with
the same effect as if all of the signatures were upon the same instrument. No
provision of this Agreement is intended to confer upon any Person other than the
parties any rights or remedies.

         9.07. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter of this Agreement and
supersedes all prior agreements and understandings, both oral and written,
between the parties with respect to the subject matter of this Agreement. No
representation, inducement, promise, understanding, condition or warranty not
expressly set forth herein has been made or relied upon by either party. Neither
this Agreement nor any of its provisions are intended to confer upon any Person
other than the parties any rights or remedies.

                                 NORTH POINTE FINANCIAL SERVICES, INC.,
                                 a Michigan corporation

                                 By:   /s/ B. Matthew Petcoff
                                       -------------------------------
                                 Name:        B. Matthew Petcoff
                                 Title:       Executive Vice President

                                       15
<PAGE>

                                 /s/ S. James Clarkson
                                 ------------------------------------------
                                 S. JAMES CLARKSON

                                 PETCOFF FINANCIAL SERVICES, L.L.C.,
                                 a Michigan limited liability company

                                 By:   /s/ James G. Petcoff
                                       -------------------------------------
                                 Name:     James G. Petcoff
                                 Title:    Member

                                       16

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