Document:

Exhibit 10.4(b)

 

	
  STATE OF SOUTH
  CAROLINA

  	
  )

  	
   

  
	
   

  	
  )

  	
  AMENDMENT TO LEASE

  
	
  COUNTY OF HORRY

  	
  )

  	
   

  

 

THIS AMENDMENT TO LEASE (the “Amendment”), made this 12th day of February, 2008
(the “Effective Date”), by and between MYRTLE BEACH FARMS
COMPANY, INC., a South Carolina corporation, hereinafter referred to
as “LANDLORD”, and COASTAL CAROLINA DREAM
TEAM, LLC, a South Carolina limited liability company,   hereinafter referred to as “TENANT”.

 

W I T N E S S E T H:

 

WHEREAS, there is a Lease Agreement by and between LANDLORD
and TENANT dated November 13, 2007, for approximately 1.29 acres of land with
Horry County Tax Map #181-03-39-005, located in Myrtle Beach, South Carolina; and,

 

WHEREAS, the parties desire to amend the Lease Agreement to
revise the Rent  section as follows:

 

NOW, THEREFORE, in consideration of the foregoing and for other good
and valuable consideration, the receipt and legal sufficiency of which are
hereby acknowledged, Landlord and Tenant agree as follows:

 

1.             Rent:  The
Tenant shall pay to the Landlord Six Thousand Six Hundred Ninety-Three and
75/100 Dollars ($6,693.75) per month, due and payable on or before the first (1st)
day of each month, commencing November 1, 2007 and continuing through April 30,
2008.  The Tenant shall pay to the
Landlord Thirteen Thousand Three Hundred Eighty-Seven and 50/100 Dollars
($13,387.50) per month, due and payable on or before the first (1st)
day of each month, commencing May 1, 2008 and continuing through October 31,
2010.  All rent payments should be mailed
to Landlord at the following payment address: 
P.O. Box 9179, Myrtle Beach, SC 
29578-9179.

 

In the event
Tenant shall exercise its first (1st) Extension Term, the Tenant
shall pay to the Landlord the sum of One Hundred Sixty-Five Thousand Four
Hundred Sixty-Nine and 50/100 Dollars ($165,469.50) per annum, payable in equal
monthly installments of Thirteen Thousand Seven Hundred Eighty-Nine and 13/100
Dollars ($13,789.13) due and payable on or before the first (1st)
day of each month, commencing on November 1, 2010 and continuing through October 31,
2011.

 

In the event
Tenant shall exercise its second (2nd) Extension Term, the Tenant
shall pay to the Landlord the sum of One Hundred Seventy Thousand Four Hundred
Thirty-Three and 59/100 Dollars ($170,433.59) per annum, payable in equal
monthly installments of Fourteen Thousand Two Hundred Two and 80/100 Dollars
($14,202.80) due and payable on or before the first (1st) day of
each month, commencing on November 1, 2011 and continuing through October 31,
2012.

 

In the event
Tenant shall exercise its third (3rd) Extension Term, the Tenant
shall pay to the Landlord the sum of One Hundred Seventy-Five Thousand Five
Hundred Forty-Six and 60/100 Dollars ($175,546.60) per annum, payable in equal
monthly installments of Fourteen Thousand Six Hundred Twenty-Eight and 88/100
Dollars ($14,628.88) due and payable on or before the first (1st)
day of each month, commencing on November 1, 2012 and continuing through October 31,
2013.

 

In the event
Tenant shall exercise its fourth (4th) Extension Term, the Tenant
shall pay to the Landlord the sum of One Hundred Eighty Thousand Eight Hundred
Thirteen and 00/100 Dollars ($180,813.00) per annum, payable in equal monthly
installments of Fifteen Thousand Sixty-Seven and 75/100 Dollars ($15,067.75)
per month, due and payable on or before the first (1st) day of each
month, commencing on November 1, 2013 and continuing through October 31,
2014.

 

1

 

3.  Confidential Terms.
Tenant hereby acknowledges and agrees that the contents of this Amendment are
to be held in strict confidence and are not to be disclosed to any party
whatsoever without the prior written consent of Landlord.

 

4.  Ratification of Lease.  Except as modified herein, the Lease shall
remain in full force and effect.  All
terms and conditions of the Lease, as modified herein, are hereby ratified and
confirmed as if fully set forth herein.

 

5.  Counterparts.  This Amendment may be executed in
counterparts, each of which shall constitute an original and all of which, when
taken together, shall constitute one and the same instrument.

 

6.  No Recording.  Landlord and Tenant agree that in no event
may this Amendment be recorded.

 

7.  Entire Agreement.  This Amendment represents the entire
agreement between the parties hereto, and neither Landlord nor Tenant, or any
agent representing either, has made any statement, promise, or agreement,
verbally or otherwise, in addition to or in conflict with, the terms of this
Amendment.  Any representation or agreement
made during negotiations is hereby merged into this Amendment and, if not set
forth herein, is hereby waived.

 

8.  Modifications.  This Amendment may be modified only by an
agreement in writing and signed by Landlord and Tenant.

 

9.  Captions.  The paragraph captions of this Amendment have
been inserted only as a matter of convenience and for reference and in no way
define, limit, or describe the scope or intent of this Amendment.

 

10.  Defined Terms.  All capitalized terms used but not defined in
this Amendment shall have the meanings ascribed to them in the Lease.

 

IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be duly executed as of the date and year first hereinabove written.

 

 

	
  WITNESSES:

  	
   

  	
  MYRTLE
  BEACH FARMS COMPANY, INC.

  
	
   

  	
   

  	
   

  
	
    /s/
  Susan Grose

  	
   

  	
  By:

  	
    /s/ Andrew
  C. Tilmont

  
	
   

  	
   

  	
   

  	
  Andrew C.
  Tilmont

  
	
   

  	
   

  	
   

  	
  Chief Operating Officer

  

 

 

	
    /s/ Karen
  Englehardt

  	
   

  	
  By:

  	
    /s/ Franklin
  J. Long

  
	
   

  	
   

  	
   

  	
  Franklin J. Long

  
	
   

  	
   

  	
   

  	
  Secretary

  

 

 

	
   

  	
   

  	
  COASTAL
  CAROLINA DREAM TEAM, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
    /s/ Karen
  M. Godfrey

  	
   

  	
  By:

  	
    /s/ Michael
  D. Owens

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
    Managing Partner

  
	
   

  	
   

  	
   

  	
   

  
	
    /s/ Stephen
  Anderson

  	
   

  	
  By:

  	
    Michael D. Owens

  

 

2Exhibit 10.4(c)

 

	
  STATE OF SOUTH
  CAROLINA

  	
  )

  	
   

  
	
   

  	
  )

  	
  SECOND AMENDMENT TO LEASE

  
	
  COUNTY OF HORRY

  	
  )

  	
   

  

 

THIS SECOND AMENDMENT
TO LEASE (the “Second Amendment”), made this 24th day of April     ,
2008, by and between MYRTLE
BEACH FARMS COMPANY, INC., a
South Carolina corporation, hereinafter referred to as “LANDLORD”, and COASTAL CAROLINA BANCSHARES, INC., a South Carolina
corporation, as successor by merger to COASTAL CAROLINA DREAM
TEAM, LLC, a South Carolina limited liability company,  hereinafter referred to as “TENANT”.

 

W I T N E S S E T H:

 

WHEREAS, there is a Lease Agreement by and
between LANDLORD and TENANT dated November 13, 2007 and Amendment to Lease
date February 12, 2008 (the “Lease”), for approximately 1.29 acres of land
with Horry County Tax Map #181-03-39-005, located in Myrtle Beach, South
Carolina, and,

 

WHEREAS, Landlord and Tenant desire to set forth their
agreement regarding a change to the Tenant Entity Name and to adjust Section 18
in this Lease.

 

NOW,
THEREFORE, in
consideration of the foregoing and for other good and valuable consideration,
the receipt and legal sufficiency of which are hereby acknowledged, Landlord
and Tenant agree as follows:

 

1.  Tenant Entity Name.  All references to the Tenant Entity Name of
Coastal Carolina Dream Team, LLC, a South Carolina limited liability company,
shall be effectively replaced throughout the Lease with COASTAL CAROLINA
BANCSHARES, INC., a South Carolina corporation.

 

2.   Section 18
- Damage or Destruction of Premises. 
The first paragraph of Section 18 shall be amended to read as
follows: “Any damage in the Premises caused by or arising from the acts or
omissions of Tenant or Tenant’s agents, Tenant’s business, or the installation
or removal of property in or from the Premises, shall be repaired at Tenant’s
expense.  All such damage shall be
promptly repaired by Tenant at its expense upon written notification from the
Landlord. For any repair item carrying a warranty, Tenant shall employ Landlord’s
designated contractor so as to retain such warranty.  If Tenant shall fail to commence such repairs within
five (5) days after notice to do so from Landlord, Landlord may make or
cause the same to be made and Tenant agrees to pay to Landlord promptly upon
Landlord’s demand, as additional Rent. 
Repairs undertaken by Landlord pursuant to this Section will be
performed by Landlord at Tenant’s expense. 
Landlord reserves the right, in its sole discretion to (i) charge
the cost to Tenant as Additional Rent; or (ii) invoice Tenant for such
cost which Tenant shall pay to Landlord within thirty (30) days from receipt of
said invoice.”

 

3.  Confidential Terms. Tenant hereby
acknowledges and agrees that the contents of this Second Amendment are to be
held in strict confidence and are not to be disclosed to any party whatsoever
without the prior written consent of Landlord; provided, however, that
notwithstanding anything to the contrary herein or in the Lease or in any prior
amendment to the Lease, Landlord consents to disclosure of the terms of the
Lease, as amended, in any prospectus relating to a stock offering by Tenant and
to the filing of a copy of the Lease and all amendments thereto (i) as
exhibits to any registration statement filed by Tenant with the Securities and
Exchange Commission and (ii) with any and all other federal and state
regulators.

 

4.  Ratification of Lease.  Except as modified herein, the Lease shall
remain in full force and effect.  All
terms and conditions of the Lease, as modified herein, are hereby ratified and
confirmed as if fully set forth herein.

 

5.  Counterparts.  This Second Amendment may be executed in
counterparts, each of which shall constitute an original and all of which, when
taken together, shall constitute one and the same instrument.

 

6.  No Recording.  Landlord and Tenant agree that in no event
may this Second Amendment be recorded.

 

1

 

7.  Entire Agreement.  This Second Amendment represents the entire
agreement between the parties hereto, and neither Landlord nor Tenant, or any
agent representing either, has made any statement, promise, or agreement,
verbally or otherwise, in addition to or in conflict with, the terms of this Second
Amendment.  Any representation or
agreement made during negotiations is hereby merged into this Amendment and, if
not set forth herein, is hereby waived.

 

8.  Modifications.  This Second Amendment may be modified only by
an agreement in writing and signed by Landlord and Tenant.

 

9.  Captions.  The paragraph captions of this Second Amendment
have been inserted only as a matter of convenience and for reference and in no
way define, limit, or describe the scope or intent of this Second Amendment.

 

10.  Defined Terms.  All capitalized terms used but not defined in
this Second Amendment shall have the meanings ascribed to them in the Lease.

 

IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment
to be duly executed as of the date and year first hereinabove written.

 

 

	
  WITNESSES:

  	
   

  	
  LANDLORD:

  
	
   

  	
   

  	
  MYRTLE
  BEACH FARMS COMPANY, INC., a

  
	
   

  	
   

  	
  South
  Carolina corporation

  

 

 

	
    /s/
  Susan Grose

  	
   

  	
  By:

  	
    /s/ Andrew
  C. Tilmont

  
	
   

  	
   

  	
   

  	
  Andrew C.
  Tilmont

  
	
   

  	
   

  	
   

  	
  Chief Operating
  Officer

  
	
    /s/ Karen
  Engelhardt

  	
   

  	
   

  	
   

  

 

 

	
  WITNESSES:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
  COASTAL CAROLINA
  BANCSHARES, INC., a South

  
	
   

  	
   

  	
  Carolina corporation (f/k/a Coastal Carolina Dream Team,

  
	
   

  	
   

  	
  LLC, as a South
  Carolina limited liability company)

  

 

 

	
    /s/ Holly
  L. Schreiber

  	
   

  	
  By:

  	
    /s/ Michael
  D. Owens

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
    President and CEO

  
	
   

  	
   

  	
   

  	
   

  
	
    /s/ Karen
  M. Godfrey

  	
   

  	
  Print Name:

  	
    Michael
  D. Owens

  
					

 

2

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