Document:

EX-10.3 FORM OF PROPOSED EMP. AGRMT./RITA B. GRAY

EXHIBIT 10.3

Amended and Restated

Executive Employment Agreement

     This
Amended and Restated Executive Employment Agreement (this “Agreement”) by and
between Home Federal Holdings Corporation, a Georgia corporation (the “Company”), and Rita B. Gray
(the “Executive”, and, together with the Company, the “Parties”), is entered into and effective as
of July ___, 2008 (the “Effective Date”).

     Whereas, the Company desires to employ the Executive and the Executive desires to
accept said employment by the Company;

     Whereas,
the Company is in the process of organizing a new national bank to be
named “Home Federal Bank, N.A.” (the “Bank”);

     Whereas, the Company and the Executive have entered into this Agreement in
contemplation of the organization of the Bank, the agreements and covenants contained herein are
intended to inure to the benefit of the Bank, following the organization of the Bank this Agreement
will be assigned by the Company to the Bank pursuant to the terms hereof, and thereafter the Bank
will possess all of the rights and obligations originally inuring to the Company hereunder;

     Whereas, the Executive’s position is a position of trust and responsibility with
access to Confidential Information, Trade Secrets, and information concerning employees and
customers of the Company, all of which are valuable assets of the Company and may not be used for
any purpose other than the Company’s Business;

     Whereas, the Company has agreed to employ the Executive upon the terms and conditions
of this Agreement in exchange for the Executive’s compliance with the terms of this Agreement;

     Now, Therefore, in consideration of the mutual covenants and agreements set forth
herein, it is agreed:

1. Employment & Duties.

     A. The Company shall employ the Executive as Chief Financial Officer of the Bank in accordance
with the terms and conditions set forth in this Agreement. The Executive accepts employment on the
terms and conditions set forth herein. The Executive shall report to the Board.

     B. The Executive shall have those duties (the “Duties”) assigned to, or normally associated
with, the Executive’s position and

 

 

such other duties as may otherwise be assigned to the Executive by the Board from time to time.

     C. The Executive agrees that the Executive shall at all times faithfully and to the best of
the Executive’s ability and experience perform all of the duties that may be required of the
Executive pursuant to the terms of this Agreement. The Executive shall devote the Executive’s full
business time to the performance of the Executive’s obligations hereunder. The Executive shall not
render to others any service of any kind for compensation or engage in any activity which conflicts
or interferes with the performance of the Executive’s obligations under this Agreement without the
express written consent of the Board.

     D. Upon the organization of the Bank, the Executive shall serve as Chief Financial Officer of
the Bank and report to the Board of Directors of the Bank.

2. Compensation.

     A. Base Salary. During the term of this Agreement, the Company shall pay to the Executive an
annual base salary (the “Base Salary”), subject to all applicable withholdings. The initial annual
base salary shall be $138,000. The Executive’s Base Salary may be increased (but not decreased)
annually at the discretion of the Board. The Executive’s Base Salary shall be paid to the
Executive in accordance with the Company’s normal payroll practices (but not less than frequently
than monthly).

     B. Performance Related Bonus. During the term of this Agreement, the Executive shall be
eligible to receive a performance-related bonus determined annually by the Board based on
performance goals set annually by the Board (the “Performance-Related Bonus”); provided, however,
that the Executive is only entitled to the Performance-Related Bonus if the Bank has a CAMELS
rating of 1 or 2 for the year to which the Performance-Related Bonus relates. The
Performance-Related Bonus shall be subject to all applicable withholdings and paid to the Executive
at the time bonuses are generally paid to other similarly-situated executives in accordance with
the Company’s policies and practices as set by the Board but in no event later than the 15th day of
the third month following the end of the calendar year to which the Performance-Related Bonus
relates.

     C. Pension, Welfare & Fringe Benefits. The Executive shall be entitled to participate in each
“employee welfare benefit plan” (within the meaning of ERISA §3(1)), each “employee pension benefit
plan” (within the meaning of ERISA §3(2)), and each “specified fringe benefit plan” (within the
meaning of Code §6039D) sponsored or maintained by the Company generally from time to time, subject
to the terms and conditions of such plans and programs. The Company shall pay the full cost of
medical coverage for Executive and Executive’s spouse and dependents, if any, as such coverage may
be changed from time to time for employees generally, which shall be paid not less frequently than
monthly, or, as an alternative, to the extent the Company does not sponsor or maintain such a
health insurance plan, the Company may elect to pay Executive cash in lieu of such coverage in an
amount equal to Executive’s reasonable after-tax cost of obtaining such health insurance

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coverage, with any such cash payments to be made in accordance with the ordinary payroll
practices of the Company (but not less frequently than monthly) for the period during which such
cash payments are to be provided. The Executive shall also be entitled to any “fringe benefit”
(within the meaning of Code §132) which is generally provided to the Company, subject to the rules
in effect regarding participation in such benefit arrangement. In addition, the Executive shall be
entitled to paid vacation in accordance with the Company’s vacation policies as they may exist from
time to time, which in the case of the Executive shall include four weeks of non-cumulative annual
vacation during the term of this Agreement.

     D. Business Expenses; Mobile Communication. The Company will reimburse the Executive for all
reasonable ordinary and necessary business-related expenses incurred by the Executive in the
performance of his duties under this Agreement, provided that the Executive presents invoices or
vouchers for such expenses or other evidence thereof to the Company in accordance with the
Company’s general reimbursement policy in effect for executives, promptly upon submission of such
invoices or vouchers but in no event later than the last day of the calendar year following the
calendar year in which the Executive incurs the reimbursable expense. In addition, the Company
shall pay to the Executive a monthly allowance of $100 per month for the cost of mobile telephone,
e-mail and other mobile communication services in accordance with the ordinary payroll practices of
the Company (but not less frequently than monthly).

     E. Automobile. The Company will provide the Executive with a monthly automobile allowance of
$650.00 per month, payable in accordance with the ordinary payroll practices of the Company (but
not less frequently than monthly). The Executive will maintain automobile insurance at all times on
the automobile of no less than $250,000 per person and $500,000 per accident and provide proof of
insurance to the Company.

     F. Club Membership Dues. During the period of the Executive’s employment with the Company,
the Company shall reimburse the Executive for dues and business
related expenditures associated with
membership in trade and professional associations and one single country club as selected by the
Executive and approved by the Board. Subject to presentation of invoices or vouchers for such
expenses or other evidence thereof to the Company in accordance with the Company’s general policies
or guidelines in effect for such reimbursements, the Company will reimburse the Executive for all
such amounts promptly on presentation of such invoices or vouchers but no later than the last day
of the calendar year following the calendar year in which the Executive incurs the reimbursable
expense. The Executive agrees to use the country club as entertainment for selective Bank clients.

     G. Options. As soon as the Company establishes its stock incentive plan, the Company agrees
to grant the Executive options to purchase 5,000 shares of the Company’s

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common stock at the exercise price of $10.00 per share. The options will be issued and vest
pursuant to the terms of a related stock option agreement. The options shall immediately vest in
full upon a Change in Control. The options will have a term of 10 years, subject to earlier
termination in connection with the Executive’s termination of employment with the Company.

3. Term & Termination.

     A. Term. Subject to the provisions of this Section 3(A), the term of this Agreement shall
commence on July     , 2008 and shall continue for a term of three years (the “Initial Term”). This
Agreement may be automatically extended and renewed on the same terms and conditions contained
herein for additional three-year terms subsequent to the Initial Term
(the “Renewal Terms”) if the Parties agree in writing. The term may be
terminated prior to the end of its scheduled term upon the occurrence of any of the following
events:

          (i) By the Company, upon the Executive’s death;

          (ii) By the Company, upon the Executive’s Disability which renders the Executive unable to
perform the essential functions of the Executive’s job even with reasonable accommodation and which
has continued for a period of 6 months;

          (iii) By mutual written agreement between the Executive and the Company;

          (iv) By the Company for Cause;

          (v) By
the Company within 30 days of the receipt of any notice from OCC, FDIC or Federal
Reserve with respect to any regulatory approval necessary for the formation and operation of the
Bank either denying such approval or otherwise indicating that such approval will not be granted;

          (vi) By the Company, if the Bank is in default (as defined in Section 3(x)(1) of the Federal
Deposit Insurance Act, as amended (the “FDIA”);

          (vii) By
the Company, if so directed by the OCC, at the time (a) the FDIC or the Resolution
Trust Corporation enters into an agreement to provide assistance to or on behalf of the Bank under
the authority contained in Section 13(c) of the FDIA, (b) the OCC approves a supervisory merger to
resolve problems related to the operation of the Bank, or (c) when the Bank is determined by the
OCC to be in an unsafe or unsound condition.

          (viii) By the Company without Cause. For this purpose, the phrase “without Cause” shall mean
a termination by the Company at any time and for any reason not permitted pursuant to subsections
A-G above.

     B. Conditions to Employment. The obligation of the Company to employ the Executive on the
Commencement Date or any date thereafter pursuant to the terms of this Agreement is conditioned
upon approval of the Executive to serve under this Agreement by the OCC, FDIC, or any other
regulatory agency having jurisdiction over the Company or the Bank.

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4. Post Termination Payment Obligations.

     A. Termination by the Company for Cause. If this Agreement is terminated pursuant to Section
3A(iv), 3A(vi) or 3A(vii) of this Agreement, then (i) the Executive shall be entitled to receive
no further compensation, (ii) the Company shall thereafter have no further obligations under this
Agreement, and (iii) the Executive shall continue to be bound by Section 7 hereof and all other
post-termination obligations to which the Executive is subject, including, but not limited to, the
obligations contained in this Agreement.

     B. Mutually Agreed Termination. If this Agreement is terminated pursuant to Section 3A(iii)
of this Agreement, the Executive shall be entitled to a parting compensation package, the terms of
which to be mutually agreed upon by the Parties.

     C. Termination by Death or Disability of the Executive. During the term of this Agreement,
the Company will maintain and pay an annual premium in the estimated amount of $                     for the
$500,000 level term life insurance policy on the life of the Executive providing the Executive the
right to designate the beneficiary (the “Life Insurance”). If this Agreement is terminated pursuant
to Section 3A(i) of this Agreement, then the proceeds from the Life Insurance shall constitute and
satisfy all of the Company’s obligations to the Executive or his estate under this Agreement, and
thereafter the Company shall have no further obligations under this Agreement. During the term of
this Agreement, the Company will also obtain and maintain from the Georgia Bankers Association
Insurance Trust, Inc. or other suitable carrier, for the benefit of the Executive, a long-term
disability insurance plan that provides for, after a waiting period of 90 days, the benefits equal
to 60% of the Executive’s current Base Salary (the “Disability Insurance”). If this Agreement is
terminated pursuant to Section 3A(ii), of this Agreement, then the proceeds from the Disability
Insurance shall constitute and satisfy all of the Company’s obligations to the Executive under this
Agreement, and the Company shall have no further obligations under this Agreement. Nevertheless,
the Executive shall, in the case of a termination, pursuant to Section 3A(ii), continue to be bound
by Section 7 and all other post-termination obligations to which the Executive is subject,
including, but not limited to, the obligations contained in this Agreement.

     D. Termination by the Company Without Cause. If this Agreement is terminated pursuant to
Section 3A(viii) of this Agreement, subject to Section 27 of this Agreement, then the Company shall
pay to or provide to the Executive a single lump sum cash separation payment equal to the aggregate
of the Executive’s then Base Salary plus the cost for the benefits required under Section 2C for
the remaining term of this Agreement. Subject to Section 27 of this Agreement, the Company shall
pay such amount in a single lump sum cash separation payment on the first business day that occurs
following thirty (30) days after the termination of Executive’s employment, subject to the
conditions set forth below.

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These separation payments and benefits set forth in the preceding sentence shall constitute full
satisfaction of the Company’s obligations under this Agreement. The Company’s obligation to make
the separation payments and benefits in this subsection D shall be conditioned upon the
Executive’s:

     1. Execution and expiration of the period to revoke, not later than thirty (30) days
following the termination of the Executive’s employment, of a Separation and Release Agreement
in a form approved by the Company whereby the Executive releases the Company and its affiliates,
directors, officers and employees from any and all liability and claims of any kind; and

     2. Compliance with the provisions of Section 7 hereof and all post-termination obligations,
including, but not limited to, the obligations contained in this Agreement; provided, that the
“Restricted Period” for purposes of Section 7D hereof shall be reduced to the date of
termination if Executive is terminated by the Company without cause.

The Company’s obligation to make the separation payments set forth in this subsection D shall
terminate immediately upon any breach by the Executive of any post-termination obligations to which
the Executive is subject.

     E. If this Agreement is terminated pursuant to Section 3A(v) of this Agreement, then the
Executive shall be entitled to receive no further compensation and thereafter the Company shall
have no further obligations under this Agreement.

5. Set Off.

     If the Executive has any outstanding obligations to the Company at the time this Agreement
terminates for any reason, the Executive acknowledges that the Company is authorized to deduct any
amounts owed to the Company from the Executive’s final paycheck and/or from any amounts that would
otherwise be due to the Executive under Section 4 above. Notwithstanding the foregoing, this
Section 5 shall not apply to loans made in the normal course of business by the Company or any
subsidiary of the Company which are made in accordance with Regulation O.

6. Assets, Books & Records.

     The Executive agrees that all files, documents, records, customer lists, books and other
materials or company equipment and assets which come into the Executive’s use or possession during
the term of this Agreement and which are in any way related to the Company’s business shall at all
times remain the property of the Company, and that upon request by the Company or upon the
termination of this Agreement for any reason, the Executive shall immediately surrender to the
Company all such property and copies thereof.

7. Restrictive Covenants.

     The Executive acknowledges that the restrictions contained in this Section 7 are reasonable
and necessary to protect the legitimate business interests of the Company, and will not impair or
infringe upon the Executive’s right to work or earn a living after the Executive’s employment with
the Company ends.

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     A. Trade Secrets and Confidential Information. The Executive represents and warrants that:
(i) the Executive is not subject to any legal or contractual duty or agreement that would prevent
or prohibit the Executive from performing the Executive’s Duties for the Company or otherwise
complying with this Agreement, and (ii) the Executive is not in breach of any legal or contractual
duty or agreement, including any agreement concerning trade secrets or confidential information
owned by any other party.

     The Executive agrees that the Executive will not: (1) use, disclose, or reverse engineer the
Trade Secrets or the Confidential Information for any purpose other than the Company’s Business,
except as authorized in writing by the Company; (2) during the Executive’s employment with the
Company, use, disclose, or reverse engineer (a) any confidential information or trade secrets of
any former employer or third party, or (b) any works of authorship developed in whole or in part by
the Executive during any former employment or for any other party, unless authorized in writing by
the former employer or third party; or (3) upon the Executive’s resignation or termination (a)
retain Trade Secrets or Confidential Information, including any copies existing in any form
(including electronic form), which are in the Executive’s possession or control, or (b) destroy,
delete, or alter the Trade Secrets or Confidential Information without the Company’s written
consent.

     The obligations under this subsection A shall: (I) with regard to the Trade Secrets, remain in
effect as long as the information constitutes a trade secret under applicable law, and (II) with
regard to the Confidential Information, remain in effect during the Restricted Period.

     The confidentiality, property, and proprietary rights protections available in this Agreement
are in addition to, and not exclusive of, any and all other rights to which the Company is entitled
under federal and state law, including, but not limited to, rights provided under copyright laws,
trade secret and confidential information laws, and laws concerning fiduciary duties.

     B. Non-Solicitation of Customers. During the Restricted Period, the Executive will not
directly or indirectly solicit in the counties of Hall, Forsyth, Gwinnett, Barrow or Jackson (the
“Territory”) any Customer of the Company for the purpose of providing any goods or services
competitive with the Business. The restrictions set forth in this subsection B apply only to the
Customers with whom the Executive had Contact.

     C. Non-Recruit of the Executives. During the Restricted Period, the Executive will not
directly or indirectly solicit, recruit or induce any Company Executive to (i) terminate his or her
employment relationship with the Company or (ii) work for any other person or entity engaged in the
Business.

     D. Non-Compete. During the Restricted Period, the Executive shall not compete with the
Company by serving as a senior or executive officer of any insured financial institution which
competes with the Company anywhere within the Territory.

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8. Work Product.

     The Executive’s Duties may include inventing in areas directly or indirectly related to the
business of the Company or to a line of business that the Company may reasonably be interested in
pursuing. All Work Product arising during the period of the Executive’s employment with the
Company or during the Restricted Period shall constitute work made for hire. If (i) any of the
Work Product may not be considered work made for hire, or (ii) ownership of all right, title, and
interest to the legal rights in and to the Work Product will not vest exclusively in the Company,
then, without further consideration, the Executive assigns all presently-existing Work Product to
the Company, and agrees to assign, and automatically assign, all future Work Product arising during
the period of the Executive’s employment with the Company or during the Restricted Period to the
Company.

     The Company will have the right to obtain and hold in its own name copyrights, patents, design
registrations, proprietary database rights, trademarks, rights of publicity, and any other
protection available in the Work Product. At the Company’s request, the Executive agrees to
perform, during or after the Executive’s employment with the Company, any acts to transfer, perfect
and defend the Company’s ownership of the Work Product, including, but not limited to: (1)
executing all documents (including a formal assignment to the Company) necessary for filing an
application or registration for protection of the Work Product (an “Application”), (2) explaining
the nature of the Work Product to persons designated by the Company, (3) reviewing Applications and
other related papers, or (4) providing any other assistance reasonably required for the orderly
prosecution of Applications.

     The Executive agrees to provide the Company with a written description of any Work Product in
which the Executive is involved (solely or jointly with others) and the circumstances surrounding
the creation of such Work Product.

9. License.

     During the Executive’s employment and after the Executive’s employment with the Company ends,
the Executive grants to the Company an irrevocable, nonexclusive, worldwide, royalty-free license
to: (i) make, use, sell, copy, perform, display, distribute, or otherwise utilize copies of the
Licensed Materials, (ii) prepare, use and distribute derivative works based upon the Licensed
Materials, and (iii) authorize others to do the same. The Executive shall notify the Company in
writing of any Licensed Materials the Executive delivers to the Company.

10. Release.

     During the Executive’s employment and during the Restricted Period, the Executive consents to
the Company’s use of the Executive’s image, likeness, voice, or other characteristics in the
Company’s products or services. The Executive releases the Company from any cause of action which
the Executive has or may have arising out of the use, distribution, adaptation, reproduction,
broadcast, or exhibition of such characteristics. The Executive represents that the Executive has

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obtained, for the benefit of the Company, the same release in writing from all third parties
whose characteristics are included in the services, materials, computer programs and other
deliverables that the Executive provides to the Company.

11. Injunctive Relief.

     The Executive agrees that if the Executive breaches any provision of Sections 7, 8 or 9 of
this Agreement: (i) the Company would suffer irreparable harm; (ii) it would be difficult to
determine damages, and money damages alone would be an inadequate remedy for the injuries suffered
by the Company, and (iii) if the Company seeks injunctive relief to enforce this Agreement, the
Executive will waive and will not (a) assert any defense that the Company has an adequate remedy at
law with respect to the breach, (b) require that the Company submit proof of the economic value of
any Trade Secret or Confidential Information, or (c) require the Company to post a bond or any
other security. Nothing contained in this Agreement shall limit the Company’s right to any other
remedies at law or in equity.

12. Severability.

     The provisions of this Agreement are severable. If any provision is determined to be invalid,
illegal, or unenforceable, in whole or in part, the remaining provisions and any partially
enforceable provisions shall remain in full force and effect.

13. Attorneys’ Fees.

     In the event of litigation relating to this Agreement, the prevailing Party shall be entitled
to recover attorneys’ fees and costs of litigation in addition to all other remedies available at
law or in equity. In that case, the non-prevailing party shall pay the attorney’s fees and costs of
litigation of the prevailing party within thirty (30) days after any final judgment or decision or
settlement of the applicable litigation.

14. Waiver.

     The Company’s failure to enforce any provision of this Agreement shall not act as a waiver of
that or any other provision. The Company’s waiver of any breach of this Agreement shall not act as
a waiver of any other breach.

15. Entire Agreement.

     This Agreement, including Exhibit A which is incorporated by reference, constitutes
the entire agreement between the Parties concerning the subject matter of this Agreement. This
Agreement supersedes any prior communications, agreements or understandings, whether oral or
written, between the Parties relating to the subject matter of this Agreement. Other than terms of
this Agreement, no other representation, promise or agreement has been made with the Executive to
cause the Executive to sign this Agreement.

16. Amendments.

     This Agreement may not be amended or modified except in writing signed by both Parties.

17. Successors & Assigns.

     This Agreement shall be assignable to, and shall inure to the benefit of, the Company’s
successors and assigns, including, without limitation, the Bank and successors through

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merger, name change, consolidation, or sale of a majority of the Company’s stock or assets,
and shall be binding upon the Executive. The Executive shall not have the right to assign the
Executive’s rights or obligations under this Agreement. The covenants contained in Section 7 of
this Agreement shall survive cessation of the Executive’s employment with the Company, regardless
of the reason for cessation of the Executive’s employment and regardless of who causes the
cessation.

18. Governing Law.

     The laws of the State of Georgia shall govern this Agreement. If Georgia’s conflict of law
rules would apply another state’s laws, the Parties agree that Georgia law shall still govern.

19. No Strict Construction.

     If there is a dispute about the language of this Agreement, the fact that one Party drafted
the Agreement shall not be used in its interpretation.

20. Notice.

     Whenever any notice is required, it shall be given in writing addressed as follows:

	 	 	 	 	 
	 

	 	To the Company:
	 	 
	 
	 	 	 	 
	 

	 	4271 Mundy Mill Road	 	 
	 
	 	 	 	 
	 

	 	Oakwood, Georgia 30566	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	To the Executive:	 	 
	 
	 	 	 	 
	 

	 	3652 Avensong Village Circle	 	 
	 
	 	 	 	 
	 

	 	Alpharetta, Georgia 30004	 	 

Notice shall be deemed given and effective three days after the deposit in the U.S. mail of a
writing addressed as above and sent first class mail, certified, return receipt requested, or when
actually received. Either Party may change the address for notice by notifying the other Party of
such change in accordance with this Section.

21. Consent to Jurisdiction & Venue.

     Any claim other than claims that are required to be arbitrated under Section 24 of this
Agreement arising out of or relating to this Agreement shall be (i) brought in the Superior Court
of Hall County, Georgia, or (ii) brought in or removed to the United States District Court for the
Gainesville Division of the Northern District of Georgia. The Executive consents to the personal
jurisdiction of the courts identified above. The Executive waives (i) any objection to
jurisdiction or venue, and (ii) any defense claiming lack of jurisdiction or improper venue, in any
action brought in such courts.

22. Affirmation.

     EXECUTIVE ACKNOWLEDGES THAT EXECUTIVE HAS CAREFULLY READ THIS AGREEMENT, THAT EXECUTIVE KNOWS
AND UNDERSTANDS ITS TERMS AND CONDITIONS, AND THAT EXECUTIVE HAS HAD THE OPPORTUNITY TO ASK THE
COMPANY ANY QUESTIONS EXECUTIVE MAY HAVE HAD PRIOR TO SIGNING THIS AGREEMENT.

23. Definitions.

     Unless otherwise indicated, all capitalized terms used in this Agreement are defined in the
“Definitions” section attached as Exhibit A. Exhibit A is hereby incorporated by
reference and is included in the definition of “Agreement.”

24. Binding Arbitration.

     Except as provided in this Section, any dispute, controversy or claim arising out of or in

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connection with, or relating to, this Agreement or any breach or alleged breach hereof, shall
be submitted to and settled by binding arbitration administered by the American Arbitration
Association (“AAA”) under its Commercial Arbitration Rules (the “Rules”). Judgment upon the award
rendered by the arbitrator may be entered in any court of competent jurisdiction. Notwithstanding
the then-current Rules, the following shall apply with respect to arbitration proceedings, unless
expressly agreed to otherwise by the Parties:

A. The arbitration proceeding shall be held in Hall County, Georgia. The arbitration shall be
conducted by a single arbitrator selected in accordance with the Rules.

B. The arbitrator shall be and remain at all times wholly independent and impartial.

C. The administrative costs of the arbitration proceeding and the arbitrator’s compensation
shall be allocated equally between the Parties by the AAA. The arbitrator shall award to the
prevailing Party, if any, as determined by the arbitrator, all fees, expenses, and costs. If
the arbitrator shall award to the prevailing party such party’s fees, expenses and costs, the
non-prevailing party shall pay such amounts within thirty (30) days after any final judgment or
decision of the arbitration proceeding. “Fees, expenses, and costs” mean all reasonable
pre-award expenses of the arbitration, including without limitation the arbitrator’s fees,
administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone,
witness fees, and attorneys’ fees and expenses.

D. The decision of the arbitrator shall be in writing, and shall be final and binding upon the
Parties.

E. It is the Parties’ intent that the arbitration process proceed as quickly as possible.
Accordingly, the Party filing the demand for arbitration (the claimant) shall submit a statement
of its position along with all supporting documents and all other documents that it intends to
introduce into evidence at the hearing within 10 business days after the AAA notifies the
Parties of the appointment of the arbitrator. The respondent shall submit a statement of its
position along with all supporting documents and all other documents that it intends to
introduce into evidence at the hearing within 10 business days after receiving the claimant’s
statement of position and documents. If the respondent includes a counterclaim against the
claimant, the claimant shall submit a statement of its position on that counterclaim, along with
all supporting documents and all other documents that it intends to introduce into evidence at
the hearing within 10 business days after receiving the claimant’s statement of position and
documents. Each Party shall have the right to take one deposition of the other. No further
discovery shall be allowed. A Party will not be allowed to introduce documents into evidence at
the hearing unless they were provided to the other Party with its statement of position, as
described

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above. In order to be considered timely submitted, the submission must be delivered by hand
delivery on the date it is due, or dispatched via a recognized overnight delivery service the
day before the submission is due, in such manner that it is reasonable to expect that delivery
will be made on the due date. All such submissions shall simultaneously be filed with the
arbitrator.

F. The arbitration hearing shall be held within 20 business days after the date the last
statement of position is submitted or was due to be submitted. The arbitrator shall render his
or her award within 10 business days after conclusion of the hearing. The arbitrator shall
agree to comply with this schedule before accepting appointment. However, the time limits set
forth in paragraphs E and F of this Section 24 may be extended by agreement of the Parties or by
the arbitrator if the arbitrator deems such extension to be necessary.

G. The arbitrator shall not have the authority to award punitive damages.

H. Any claim or action must be brought within one year after the cause of action accrues.

     Notwithstanding the foregoing provisions of this Section, the Parties hereto acknowledge and
agree that the Company shall have the right to pursue any claim for specific performance,
injunction, or other equitable relief in a court of competent jurisdiction (before or during the
pendency of any arbitration, or otherwise) in the event of any alleged breach of any provision in
Sections 7, 8 or 9 of this Agreement.

			
	     Approved:	 	Executive:                                          (Initial)

 

Company:                                          (Initial)

25. FDIC Compliance Limitation.

     If the amounts to be paid to the Executive under this Agreement would cause the Executive to
receive a payment in violation of 12 CFR §359 (or the corresponding provisions of any future
regulations promulgated under Section 18(k) of the FDIA (12 U.S.C. §1828(k))), then, after seeking
the approval of the FDIC to nonetheless make payment of such amounts, if such approval is not
forthcoming, such amounts shall be limited so that no violation of such regulations will occur.

26. Golden Parachute Limitation.

     If amounts to be paid to the Executive under this Agreement would somehow cause the Executive
to be subject to the excise tax imposed by Code §4999 on golden parachute payments, then, to the
extent that the total “parachute payments” (as defined in Code §280G(b)(2)) which would be made to
the Executive are greater than three times the Executive’s “base amount” (as defined in Code
§280G(b)(3)), but are less than the Golden Parachute Upper Limitation, then amounts to be paid
under this Agreement which would constitute “parachute payments” shall be reduced to the extent
necessary so that the total “parachute payments” which would be paid to the Executive shall not
exceed three times the Executive’s “base amount.” It is the intent of the foregoing provision that
if the Executive would be economically better off, on an after-tax

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(federal and state income and federal excise) basis, by receiving less under this Agreement
because of the application of the golden parachute excise tax under Code §4999 to amounts that the
Executive receives, then the Executive’s payments hereunder shall be reduced so that the Code §4999
excise tax shall not apply. The Executive shall have complete discretion to appoint competent tax
experts to make the calculations required by this Section, and the calculations made by such
experts shall be final and binding upon both the Company and the Executive. Any reductions
required under this Section shall come first from cash payments required hereunder.

     27. Deferred Compensation Omnibus Provision. Notwithstanding any other provision of
this Agreement, it is intended that any payment or benefit which is provided to the Executive in
connection with this Agreement which is considered to be deferred compensation subject to Section
409A of the Code shall be provided and paid in a manner, and at such time, including without
limitation only in connection with a permissible payment event, as complies with the applicable
requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein
for noncompliance. For purposes of this Agreement, all rights to the payments and benefits
hereunder shall be treated as rights to receive a series of separate payments and benefits to the
fullest extent allowed by Section 409A of the Code. If the Executive is a key employee (as defined
in Section 416(i) of the Code without regard to paragraph 5 thereof), and any of the Company stock
is publicly traded on an established securities market or otherwise, then payment of any amount or
provision of any benefit under the Agreement which is considered to be deferred compensation
subject to Section 409A of the Code and that is payable on a separation from service shall be
deferred for six months as required by Section 409A(a)(2)(b)(i) of the Code (the “409A deferral
period”). In the event such payments are otherwise due to be made in installments or periodically
during the 409A deferral period, the payments which would otherwise have been made in the 409A
deferral period shall be accumulated and paid in a lump sum as soon as the 409A deferral period
ends, and the balance of the payments shall be made as otherwise scheduled. In the event benefits
are required to be deferred, any such benefit may be provided during the 409A deferral period at
the Executive’s expense, with the Executive having a right to reimbursement from the Company once
the 409A deferral period ends, and the balance of the benefit shall be provided as otherwise
scheduled. For purposes of this Agreement, any termination of employment or this Agreement shall
be read to mean a “separation from service” within the meaning of Section 409A of the Code where it
is reasonably anticipated that no further services will be performed after such date or that the
level of bona fide services the Executive would perform after that date (whether as an employee or
an independent contractor) would permanently decrease to no more than 20% of the average
level of bona fide services performed over the immediately preceding 36-month period.

Page 13

 

     In Witness Whereof, the Parties hereto have executed this Agreement as of the
Effective Date.

	 	 	 	 	 	 	 
	the Company:	 	 	 	The Executive:
	 
	 	 	 	 	 	 
	Home Federal Holdings Corporation	 	 	 	Rita B. Gray
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Its:
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Page 14

 

Exhibit A

DEFINITIONS

A. “Board” shall mean the Board of Directors of Home Federal Holdings Corporation.

B. “Business” shall mean the business of commercial banking.

C. “Cause” shall exist if the Executive (i) materially breaches any provision of this
Agreement and such breach is not cured by the Executive within 30 days after receipt by the
Executive of written notice from the Company of such breach; (ii) engages in negligence or willful
misconduct, fraud, dishonesty, misfeasance, malfeasance, nonfeasance, or breach of fiduciary duty
involving personal profit that results in material injury to the Company and has not been cured by
the Executive within 30 days after receipt by the Executive of written notice from the Company of
such conduct; (iii) engages in willful, intentional, or negligent failure to (A) perform the
Executive’s Duties under this Agreement, (B) follow the direction (consistent with the Executive’s
Duties) of the Board, (C) follow the policies, procedures, and rules of the Company or (D) follow
any law, rule or regulation (other than traffic violations or similar offenses) or any
cease-and-desist order; provided, however, that the Company shall first give the Executive written
notice setting forth with specificity the reasons that the Company believes the Executive is
engaging in a failure under this clause (iii), and shall give the Executive 30 days to cure such
failure; (iv) is convicted of, or enters into a plea of guilty or no contest to, (A) a felony or
(B) a crime involving moral turpitude that adversely affects the Company’s reputation in a material
way; or (v) is not approved by the OCC, the FDIC, the or any other regulatory agency having
jurisdiction over the Company or the Bank to serve as in the capacities required under this
Agreement, or any such agency subsequently requests, recommends or orders the removal of Executive
from serving in any of such capacities.

D. “Change of Control” means any of the following: (i) any transaction or series of
transactions pursuant to which the Company sells, transfers, leases, exchanges or disposes of
substantially all (i.e., at least 85%) of its assets for cash or property, or for a combination of
cash and property, or for other consideration; (ii) any transaction pursuant to which persons who
are not current shareholders of the Company acquire by merger, consolidation, reorganization,
division or other business combination or transaction, or by a purchase of an interest in the
Company so that after such transaction, the shareholders of the Company immediately prior to such
transaction no longer have a controlling (i.e., 50% or more) voting interest in the Company; (iii)
the individuals who, as of the date of this Agreement, were members of the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided, however,
that if either the election of any new director or the nomination for election of any new director
by the Company’s stockholders was approved by a vote of at least a

Page 15

 

majority of the Incumbent Board, such new director shall be considered as a member of the Incumbent
Board; or (iv) any transaction if the Executive and the Company agree in writing prior to such
transaction that such transaction shall constitute a Change of Control for purposes of this
Agreement. However, notwithstanding the foregoing, the Executive and the Company may agree in
writing prior to the occurrence of any of the foregoing events that such event shall not constitute
a Change of Control for purposes of this Agreement.

E. “Code” means the Internal Revenue Code of 1986, as amended.

F. “Company” means Home Federal Holdings Corporation, its parents, subsidiaries,
affiliates and all related companies, as well as their respective officers, directors,
shareholders, employees, agents and any other representatives.

G. “Company Executive” means any person who (i) is employed by the Company at the time the
Executive’s employment with the Company ends, (ii) was employed by the Company during the last year
of the Executive’s employment with the Company (or during the Executive’s employment if employed
less than a year), or (iii) is employed by the Company during the Restricted Period.

H. “Confidential Information” means (i) information of the Company, to the extent not
considered a Trade Secret under applicable law, that (a) relates to the business of the Company,
(b) possesses an element of value to the Company, (c) is not generally known to the Company’s
competitors, and (d) would damage the Company if disclosed, and (ii) information of any third party
provided to the Company which the Company is obligated to treat as confidential. Confidential
Information includes, but is not limited to, (1) future business plans, (2) the composition,
description, schematic or design of products, future products or equipment of the Company, (3)
communication systems, audio systems, system designs and related documentation, (4) advertising or
marketing plans, (5) information regarding independent contractors, employees, clients and
customers of the Company, and (6) information concerning the Company’s financial structure and
methods and procedures of operation. Confidential Information shall not include any information
that (I) is or becomes generally available to the public other than as a result of an unauthorized
disclosure, (II) has been independently developed and disclosed by others without violating this
Agreement or the legal rights of any Party, or (III) otherwise enters the public domain through
lawful means.

I. “Contact” means any interaction between the Executive and a Customer which (i) takes
place in an effort to establish, maintain, and/or further a business relationship on behalf of the
Company and (ii) occurs during the last year of the Executive’s employment with the Company (or
during the Executive’s employment if employed less than a year).

J. “Customer” means any person or entity to whom the Company has sold its products or
services, or solicited to sell its products or services.

K. “Disability” means a physical or mental impairment (a physiological disorder or
condition, cosmetic disfigurement, anatomical loss affecting a major body system and any mental or

Page 16

 

psychological disorder) that substantially limits one or more major life activities.

L. “ERISA” means the Employee Retirement Income Security Act of 1974, as Amended.

M. “FDIC” means the Federal Deposit Insurance Corporation.

N. “Golden Parachute Upper Limitation” means, with respect to the Executive, that dollar
amount of “parachute payments” of the Executive exceeding three times the Executive’s “base amount”
(as defined in Code §280G(b)(3)), given the Executive’s tax situation, which would, after the
application of all such taxes, yield to the Executive the same after-tax amount as if the
Executive’s “parachute payments” were exactly $0.01 less than three times the Executive’s “base
amount” (as defined in Code §280G(b)(3)), or, in other words, that dollar amount of “parachute
payments” of the Executive exceeding three times the Executive’s “base amount” (as defined in Code
§280G(b)(3)) at which the negative impact of the additional golden parachute excise tax is exactly
offset by the additional compensation paid to the Executive. Mathematically, the Golden Parachute
Upper Limitation should equal the “base amount” (as defined in Code §280G(b)(3)) of the Executive
multiplied by the following fraction, if the marginal rates of the Executive are constant:

3 – 3F – 3S – E

1 – F – S – E

where:

“F” is the highest marginal rate of federal income taxation applicable to the Executive’s
“parachute payments” under this Agreement;

“S” is the highest marginal rate of state income taxation applicable to the Executive’s “parachute
payments” under this Agreement; and

“E” is the golden parachute excise tax rate applicable to the Executive’s “parachute payments”
under this Agreement.

O.  “Licensed Materials” means any materials that the Executive utilizes for the benefit
of the Company, or deliver to the Company or the Company’s customers, which (i) do not constitute
Work Product, (ii) are created by the Executive or of which the Executive is otherwise in lawful
possession, and (iii) the Executive may lawfully utilize for the benefit of, or distribute to, the
Company or the Company’s customers.

P.
“OCC”
means the Office of Comptroller of the Currency.

Q. “Restricted Period” means the time period during the Executive’s employment with the
Company, and for one year after the Executive’s employment with the Company ends.

R. “Trade Secrets” means information of the Company, and its licensors, suppliers, clients
and customers, without regard to form, including, but not limited to, technical or non-technical
data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a
process, financial data, financial plans, product plans, or a list of actual or potential customers
or suppliers which is not commonly known by or available to the public and which information (i)
derives economic value, actual or potential, from not being generally known to, and not being
readily ascertainable by proper means by, other persons who can obtain economic value from its
disclosure or use, and (ii) is the subject of efforts

Page 17

 

that are reasonable under the circumstances to maintain its secrecy.

S. “Work Product” means (i) any data, databases, materials, documentation, computer
programs, inventions (whether or not patentable), designs, and/or works of authorship, including
but not limited to, discoveries, ideas, concepts, properties, formulas, compositions, methods,
programs, procedures, systems, techniques, products, improvements, innovations, writings, pictures,
audio, video, images of the Executive, and artistic works, and (ii) any subject matter protected
under patent, copyright, proprietary database, trademark, trade secret, rights of publicity,
confidential information, or other property rights, including all worldwide rights therein, that is
or was conceived, created or developed in whole or in part by the Executive while employed by the
Company and that either (1) is created within the scope of the Executive’s employment, (2) is based
on, results from, or is suggested by any work performed within the scope of the Executive’s
employment and is directly or indirectly related to the business of the Company or a line of
business that the Company may reasonably be interested in pursuing, (3) has been or will be paid
for by the Company, or (4) was created or improved in whole or in part by using the Company’s time,
resources, data, facilities, or equipment.

Page 18EX-10.15 PURCHASE AND SALE AGREEMENT

EXHIBIT 10.15

NOTE: THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR AN ACCEPTANCE OF AN OFFER TO
PURCHASE OR SELL. THIS DOCUMENT SHALL NOT BE BINDING ON ANY PERSON OR ENTITY UNTIL IT IS
DULY EXECUTED BY AND DELIVERED TO EACH PARTY TO THIS DOCUMENT.

PURCHASE AND SALE AGREEMENT

(STB College Square Branch)

     THIS PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of the Effective Date (as
defined below), between SUNTRUST BANK, a Georgia banking corporation (the “Seller”), and HOME
FEDERAL HOLDINGS CORPORATION, a Georgia corporation (the “Purchaser”), provides:

     THAT for and in consideration of the mutual covenants and agreements contained herein and
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Seller and the Purchaser hereby agree as follows:

     1. Purchase and Sale.

          (a) Property; Purchase Price. The Seller agrees to sell and the Purchaser agrees to
purchase that certain property located in Hall County, Georgia, with a street address of 3626 Mundy
Mill Road, Gainesville, Georgia 30504, and being more particularly described on Exhibit A
attached hereto, together with any existing improvements located thereon and any easement rights
appurtenant thereto (collectively, the “Property”), for the purchase price of $1,903,000 (the
“Purchase Price”) and in accordance with the other terms and conditions set forth in this
Agreement. The parties hereto acknowledge and agree that the Property is being purchased in gross
and not by the acre.

          (b) Personal Property. The purchase and sale of the Property hereunder shall include
the purchase and sale of the Seller’s right, title and interest in and to the furniture, trade
fixtures, equipment and other personal property located on the Property on the Effective Date (the
“Personal Property”).

     2. Payment of Purchase Price. The Purchase Price shall be paid to the Seller in the
following manner:

          (a) Deposit. The Purchaser shall, upon the Purchaser’s execution of this Agreement,
pay to Lawyers Title Insurance Corporation, as escrow agent (the “Escrow Agent”), an earnest money
deposit of $190,300 (the “Deposit”), which Deposit shall be held in an interest bearing account.
Simultaneously with the Purchaser’s execution of this Agreement, the Escrow Agent shall execute the
Consent of Escrow Agent attached hereto to acknowledge the Escrow

1

 

Agent’s receipt of the Deposit. The Deposit (together with all accrued interest thereon)
shall be (i) delivered to the Seller and applied toward the Purchase Price in the event Closing (as
hereinafter defined) occurs hereunder, or (ii) returned to the Purchaser pursuant to Sections 5,
10, 12(b) or 13 hereof in the event this Agreement is terminated as provided therein, or (iii)
delivered to and retained by the Seller pursuant to Section 12(a) hereof in the event the Purchaser
defaults hereunder.

          (b) Balance of Purchase Price. The Purchaser shall pay the balance of the Purchase
Price, as adjusted pursuant to Section 9 hereof, to the Seller at Closing in cash by making a wire
transfer of immediately available federal funds to an account at a financial institution designated
in writing by the Seller.

     3. Seller’s Representations, Warranties and Covenants. The Seller hereby represents,
warrants and covenants that this Agreement has been duly authorized, executed and delivered by all
necessary action on the part of the Seller, constitutes the valid and binding agreement of the
Seller and is enforceable in accordance with its terms.

     4. Purchaser’s Representations, Warranties and Covenants. The Purchaser hereby makes
the following representations, warranties and covenants:

          (a) Authorization, Execution and Delivery. This Agreement has been duly authorized,
executed and delivered by all necessary action on the part of the Purchaser, constitutes the valid
and binding agreement of the Purchaser and is enforceable in accordance with its terms.

          (b) ACCEPTANCE OF PROPERTY. THE PURCHASER ACKNOWLEDGES AND AGREES THAT (i) THE
PURCHASER IS PURCHASING THE PROPERTY “AS IS, WHERE IS,” WITH ANY EXISTING DEFECTS (EITHER LATENT OR
PATENT) AND IN ITS CONDITION (ENVIRONMENTAL AND OTHERWISE) AT CLOSING, (ii) THE SELLER HAS NOT MADE
AND DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE
PROPERTY, THE OPERATIONS OF THE PROPERTY, THE ENVIRONMENTAL CONDITION OR OTHER PHYSICAL CONDITION
OF THE PROPERTY, THE PROPERTY’S FITNESS FOR A PARTICULAR PURPOSE OR THE MERCHANTABILITY OF THE
PROPERTY, OR THE COMPLETENESS OR ACCURACY OF ANY INFORMATION FURNISHED OR MADE AVAILABLE TO THE
PURCHASER OR OTHERWISE OBTAINED BY THE PURCHASER FROM ANY SOURCE, WHICH ARE NOT EXPRESSLY SET FORTH
HEREIN, AND (iii) IN ENTERING INTO THIS AGREEMENT, THE PURCHASER HAS NOT BEEN INDUCED BY, AND HAS
NOT RELIED UPON, ANY REPRESENTATIONS, WARRANTIES OR STATEMENTS, WHETHER EXPRESS OR IMPLIED, MADE BY
THE SELLER OR ANY AGENT, EMPLOYEE OR OTHER REPRESENTATIVE OF THE SELLER OR BY ANY BROKER OR ANY
OTHER PERSON REPRESENTING OR PURPORTING TO REPRESENT THE SELLER, WHICH ARE NOT EXPRESSLY SET FORTH
HEREIN. INSTEAD, THE PURCHASER’S DECISION TO PURCHASE THE PROPERTY SHALL BE BASED SOLELY

2

 

UPON THE PURCHASER’S OWN EXAMINATION AND INSPECTION OF THE PROPERTY.

          (c) Indemnity; Restoration. The Purchaser agrees to (i) indemnify, defend and hold
the Seller harmless from and against any injury, loss, damage or expense (including reasonable
attorneys’ fees and expenses) caused directly or indirectly by the inspection, examination, testing
and investigation of the Property by the Purchaser and the Purchaser’s employees, agents and
contractors and other undertakings of the Purchaser and the Purchaser’s employees, agents and
contractors under this Agreement, and (ii) restore the Property to the condition in which it
existed immediately prior to the Purchaser’s entry thereon. This section shall survive the delivery
of the Deed (as hereinafter defined) and any termination of this Agreement.

          (d) Insurance. Before any entry upon the Property, the Purchaser shall, at the
Purchaser’s expense, provide and maintain, or cause the Purchaser’s contractors to provide and
maintain, workers’ compensation insurance, to the extent required under the workers’ compensation
law of the jurisdiction in which the Property is located, and commercial general liability
insurance, all in form and with coverage limits reasonably satisfactory to the Seller and with
insurance companies authorized to do business in the jurisdiction in which the Property is located.
The Purchaser’s commercial general liability insurance shall specifically extend to and include
the indemnity agreement set forth herein. Prior to the commencement of entry by the Purchaser, the
Purchaser shall furnish sufficient certificates of such insurance to the Seller, which certificates
shall provide that such insurance shall not be canceled or changed until at least thirty (30) days’
prior written notice is given to the Seller and shall name the Seller as an additional insured
thereunder.

          (e) Restrictive Covenants. The Purchaser covenants and agrees with the Seller that
for a period commencing upon the Effective Date and expiring on November 6, 2008 (i) the Property
shall not be used by the Purchaser or anyone claiming by, through or under the Purchaser as a
commercial bank, savings bank, saving and loan association, trust company, credit union, mortgage
loan production office, automated teller machine or such other use offering the same or similar
financial services (collectively, “Financial Institution”) and (ii) the Purchaser shall not
advertise, nor permit any prospective tenant or other user to advertise, in any media the present
or future use of the Property as a Financial Institution.

          (f) Purchaser’s Title Insurance Commitment. Prior to the expiration of the Study
Period (as hereinafter defined), the Purchaser shall provide to the Seller, at no cost or expense
to the Seller, a copy of the Purchaser’s commitment for title insurance with respect to the
Property. The Property shall be conveyed to the Purchaser at Closing based upon the legal
description(s) contained in the Seller’s vesting deed(s) as modified by any out-conveyances prior
to the Effective Date, subject to review and approval by the Seller’s counsel.

          (g) Exclusion from Sale. The Purchaser acknowledges and agrees that the sale of the
Property under this Agreement shall not include any loans, deposits or other financial assets, or
client, customer or employee information or proprietary data, associated with the Seller’s
operation of the former branch bank on the Property.

3

 

          (h) Relationship to Seller’s Parent Corporation. The Purchaser hereby represents and
warrants to the Seller that neither the Purchaser nor any of its directors, managers, officers,
employees, members, partners, shareholders, trustees or any other person having an ownership
interest in the Purchaser is a (i) director, (ii) officer (as defined in Rule 16a-1 promulgated
under the Securities Exchange Act of 1934, as amended), (iii) beneficial owner, directly or
indirectly, of more than 10% of any class or form of equity securities or other equity interests or
(iv) affiliate (as defined in Rule 144 promulgated under the Securities Act of 1933, as amended) of
SunTrust Banks, Inc. on the Effective Date or the Closing Date.

          (i) Encumbrances; Mechanics’ Liens. The Purchaser agrees to (i) remove, bond or
otherwise dispose of, within fifteen (15) calendar days after the filing thereof, any encumbrance,
claim or lien (including mechanics’ liens) which may arise or be filed against or having an effect
upon the Property caused by the inspection, examination, testing and investigation of the Property
by the Purchaser and the Purchaser’s employees, agents and contractors, and (ii) indemnify, defend
and hold the Seller harmless against all loss or damage, including but not limited to all expenses,
costs and reasonable attorneys’ fees which may arise out of the Purchaser’s failure to so remove,
bond or otherwise dispose of any such encumbrance, claim or lien. This section shall survive the
delivery of the Deed and any termination of this Agreement.

     5. Conditions Precedent. The Purchaser’s obligation to purchase the Property under
this Agreement is subject to the satisfaction or waiver of the following conditions precedent:

          (a) Study Period. The Purchaser shall have until 5:00 p.m. local Atlanta, Georgia
time on the forty-fifth (45th) calendar day after the Effective Date of this Agreement (the “Study
Period”) within which to conduct and complete, at the Purchaser’s sole expense, all inspections,
investigations, examinations of title, surveys, testing and undertakings with respect to the
Property that the Purchaser desires in the sole discretion of the Purchaser. During the Study
Period, the Purchaser shall have the right to enter upon the Property, at the Purchaser’s sole risk
and in compliance with all applicable laws, for the purpose of performing the foregoing inspections
and investigations. Notwithstanding the foregoing, no invasive inspections, testing or
investigations (e.g., Phase II Environmental Site Assessment or geotechnical soil borings) shall be
conducted without the Seller’s prior written approval. All inspections and investigations shall be
performed at reasonable times and the Purchaser shall be accompanied by a representative of the
Seller if the Seller so desires. The Seller shall not be obligated to correct, remedy or cure any
condition or characteristic of the Property revealed by such inspections or investigations,
including but not limited to any environmental contamination. If the results of any such
inspection or investigation are deemed unsatisfactory in the Purchaser’s sole discretion, then the
Purchaser may terminate this Agreement by providing written notice thereof to the Seller prior to
the expiration of the Study Period, in which event the Deposit shall be returned to the Purchaser
and neither party shall have any further rights or obligations hereunder, except as expressly
provided herein. If the Purchaser fails to so terminate this Agreement prior to the expiration of
the Study Period, the Purchaser shall be deemed to have waived such right and shall proceed to
Closing in accordance with the terms of this Agreement.

4

 

          (b) Title Examination. The Purchaser shall have until the expiration of the Study
Period, at the Purchaser’s sole expense, to obtain a title examination of the Property and an
owner’s title insurance commitment, in form and substance, and issued by a title insurance company,
acceptable to the Purchaser and subject only to those exceptions to title to the Property the
Purchaser agrees to accept. If the Purchaser is not satisfied with the state of title to the
Property, the Purchaser shall notify the Seller of such title objections in writing prior to the
expiration of the Study Period. Any such notice shall specify the matter to which the Purchaser
objects and the curative action required by the Purchaser (an “Objection”). If the Seller does not
agree in writing to attempt to cure any Objection raised by the Purchaser (which the Seller shall
not be obligated to do), then the Purchaser may terminate this Agreement by providing written
notice thereof to the Seller prior to the expiration of the Study Period, in which event the
Deposit shall be returned to the Purchaser and neither party shall have any further rights or
obligations hereunder, except as expressly provided herein. If (i) the Purchaser fails to so
notify the Seller of any Objection or (ii) the Purchaser notifies the Seller of an Objection, the
Seller does not agree in writing to attempt to cure such Objection and the Purchaser fails to
terminate this Agreement prior to the expiration of the Study Period, then, in either event, the
Purchaser shall be deemed to have waived any such Objection and shall proceed to Closing without
any reduction in the Purchase Price, in which event the Property will be conveyed to the Purchaser
subject to such Objection. In the event the Seller agrees in writing to attempt to cure any
Objection, the Seller shall have the right to extend the Closing Date for up to sixty (60) calendar
days and Closing shall occur on the day that is ten (10) calendar days after the Seller notifies
the Purchaser in writing that the Seller has cured the Objection, TIME BEING OF THE ESSENCE. If
the Seller undertakes in writing to attempt to cure any Objection but the Seller is unable or
becomes unwilling to incur the expense or other liability required to cure such Objection at or
prior to Closing, the Seller shall so notify the Purchaser in writing and the Purchaser’s sole
recourse shall be either to (A) terminate this Agreement by providing written notice thereof to the
Seller, in which event the Deposit shall be returned to the Purchaser and neither party shall have
any further rights or obligations hereunder, except as expressly provided herein, or (B) waive such
Objection and proceed to Closing without any reduction in the Purchase Price, in which event the
Property will be conveyed to the Purchaser subject to such Objection. For purposes of this
Agreement, “Permitted Title Exceptions” shall be all applicable laws including zoning, building
ordinances and land use regulations, all easements, restrictions, covenants, agreements, conditions
or other matters to which the Purchaser fails to object or that the Purchaser waives pursuant to
the terms of this Section 5(b), the restrictive covenants set forth in Section 4(e), all
encroachments and other matters that may be revealed by a survey or inspection of the Property, and
the lien of real estate taxes, taxes imposed by special assessment and water, sewer, vault, public
space and other public charges not yet due and payable.

     6. Closing. Closing of the purchase and sale of the Property pursuant to this
Agreement (“Closing”) shall be held at the offices of the Seller’s attorney in Atlanta, Georgia, or
at such other location that is reasonably acceptable to the parties hereto, no later than thirty
(30) calendar days after the expiration of the Study Period, subject to extension as expressly
provided herein, TIME BEING OF THE ESSENCE. For purposes hereof, the term “Closing Date” shall be
the date upon which Closing occurs under this Agreement. Closing shall be conducted in escrow by
the Purchaser’s title insurance company, or such other person or entity that is reasonably
acceptable to the parties hereto, as settlement agent, and prior to the Closing Date

5

 

hereunder, each party shall deliver in escrow to such settlement agent all moneys and
documents required to be delivered at Closing hereunder.

     7. Seller’s Deliveries. At Closing, the Seller shall prepare, execute and deliver to
the Purchaser (i) a limited warranty deed in the form and substance attached hereto as Exhibit
B (the “Deed”) conveying title to the Property to the Purchaser subject to the Permitted Title
Exceptions, (ii) all necessary information for IRS Form 1099-S, (iii) an affidavit as to nonforeign
status of the Seller, (iv) an affidavit of seller’s residence under O.C.G.A. Section 48-7-128, (v)
a seller’s title affidavit in the form and substance attached hereto as Exhibit C, (vi) an
affidavit regarding commercial real estate brokers, (vii) a bill of sale in the form and substance
attached hereto as Exhibit D with respect to the Personal Property, and (viii) a settlement
statement prepared by the settlement agent and approved by the Seller and the Purchaser for the
transaction contemplated by this Agreement (the “Settlement Statement”).

     8. Purchaser’s Deliveries. At Closing, the Purchaser shall pay to the Seller the
portion of the Purchase Price described in Section 2(b) hereof and execute and deliver to the
Seller a counterpart of the Settlement Statement.

     9. Closing Costs; Prorations. The Seller shall pay the cost of preparing the Deed,
the Georgia transfer tax on the Deed and the Seller’s attorneys’ fees. The Purchaser shall pay all
other costs of Closing including, without limitation, the cost of any title examinations and title
insurance premium, the cost of any surveys, inspections and investigations, the other Georgia
recordation fees on the Deed, the Purchaser’s attorneys’ fees and settlement costs. Real estate
taxes, assessments, rent and utilities, if any, shall be prorated as of the Closing Date and shall
thereafter be assumed and paid by the Purchaser.

     10. Risk of Loss. The risk of any loss or damage to the Property prior to Closing
shall remain upon the Seller except as otherwise expressly provided herein. In the event any loss
or damage occurs prior to Closing (other than ordinary wear and tear) and the Seller is unable or
unwilling to repair such loss or damage as soon as practicable after the occurrence thereof, then
either party may terminate this Agreement by providing written notice thereof to the other within
seven (7) calendar days after the occurrence of such loss or damage (or if such period of seven (7)
calendar days would extend beyond the Closing Date set forth herein, the Closing Date shall be
extended until the date that is two (2) business days after the expiration of such seven (7)
calendar day period, TIME BEING Of THE ESSENCE), in which event the Deposit shall be returned to
the Purchaser and thereafter neither party shall have any further rights or obligations hereunder,
except as expressly provided herein. If neither party elects to so terminate this Agreement, the
parties shall proceed to Closing without any reduction in the Purchase Price and the Purchaser
shall receive an assignment at Closing of any insurance proceeds that may be payable as a result of
such loss or damage (expressly excluding any insurance proceeds relating to the interruption of the
Seller’s business operations or loss or damage to the Seller’s personal property).

     11. Brokers. Each party represents and warrants that it has not engaged the services
of or dealt with any broker, salesperson or other person or entity who may claim a commission or
other payment in conjunction with this Agreement. Each party hereto agrees to indemnify,

6

 

defend and hold the other party harmless from and against all loss, claims, costs and expenses
(including reasonable attorneys’ fees) caused by a breach of the foregoing representation. This
section shall survive Closing and the delivery of the Deed and any termination of this Agreement.

     12. Default.

          (a) By Purchaser. If the Purchaser defaults in performing any of the Purchaser’s
obligations under this Agreement (material or otherwise), the Escrow Agent shall deliver the
Deposit to the Seller and the Seller shall have the right to retain the Deposit and shall have all
other rights and remedies available at law or in equity as a result of such default including,
without limitation, specific performance of the Purchaser’s obligations hereunder and recovery of
the Seller’s reasonable attorneys’ fees and expenses.

          (b) By Seller. If the Seller defaults in performing any of the Seller’s obligations
under this Agreement (and provided the Purchaser has performed, in all material respects, all
covenants, duties, agreements or obligations of the Purchaser hereunder upon which such covenant,
duty, agreement or obligation of the Seller is dependent), the Purchaser’s sole and exclusive
remedy shall be either to (i) terminate this Agreement by providing written notice thereof to the
Seller and receive a refund of the Deposit, in which event neither party shall have any further
rights or obligations hereunder, except as expressly provided herein, or (ii) seek specific
performance of the Seller’s obligation to convey title to the Property hereunder, which remedy may
not be exercised by the Purchaser more than sixty (60) calendar days after such default by the
Seller. The Purchaser hereby expressly waives any right the Purchaser may have to any damages
(compensatory, consequential, punitive or otherwise) as a result of such default by the Seller.

     13. Condemnation. If a substantial part of the Property (as defined below) is taken
prior to Closing pursuant to eminent domain proceedings (or private purchase in lieu thereof), or
the Seller has received written notice of an intent to condemn such part of the Property from the
condemning authority, then either party may terminate this Agreement by providing written notice
thereof to the other party within seven (7) calendar days after the date of such taking or receipt
of such notice thereof (or, if such period of seven (7) calendar days would extend beyond the
Closing Date set forth herein, the Closing Date shall be extended until the date that is two (2)
business days after the expiration of such seven (7) calendar day period, TIME BEING OF THE
ESSENCE). If neither party elects to so terminate this Agreement, the parties shall proceed to
Closing with an adjustment in the Purchase Price equal to any condemnation award or payment
actually received by the Seller. If the Seller does not receive such award or payment by the
Closing Date, the Seller shall assign all of the Seller’s right, title and interest in such award
or payment to the Purchaser at Closing without an adjustment to the Purchase Price. For purposes
of this section, “substantial part of the Property” means that portion of the Property that, if
taken pursuant to eminent domain proceedings (or private purchase in lieu thereof), would have a
material adverse effect upon the Purchaser’s intended use of the Property for commercial purpose.
If either party elects to terminate this Agreement as provided in this section, the Deposit shall
be refunded to the Purchaser and neither party shall have any further rights or obligations
hereunder, except as expressly provided herein.

7

 

     14. Miscellaneous Provisions.

          (a) Time of Essence. TIME IS OF THE ESSENCE WITH RESPECT TO EVERY PROVISION OF THIS
AGREEMENT WHETHER OR NOT THIS STATEMENT IS INCLUDED WITHIN EACH SUCH PROVISION.

          (b) Study Materials. In the event this Agreement is terminated for any reason, the
Purchaser shall, within seven (7) calendar days thereafter, deliver to the Seller, at no cost and
without representation or warranty, the results of all tests, studies, examinations and
investigations that the Purchaser caused to be performed with respect to the Property and, until
the same have been received by the Seller, the Deposit shall not be returned to the Purchaser.

          (c) Notices. All notices shall be in writing and sent by hand delivery, electronic
mail or facsimile transmission, overnight delivery service or certified mail, return receipt
requested, to the following addresses:

	 	 	 
	If to Seller:

	 	SunTrust Bank
	 

	 	303 Peachtree Center Avenue, Suite 670
	 

	 	Atlanta, Georgia 30303
	 

	 	Attn: James K. Culton
	 

	 	Facsimile: (404) 827-6572
	 

	 	Email: james.culton@suntrust.com
	 
	 	 
	If to

	 	Home Federal Holdings Corporation
	Purchaser:

	 	4271 Mundy Mill Road
	 

	 	Oakwood, Georgia 30566
	 

	 	Attn: Clyde A. McArthur
	 

	 	Facsimile: (770) 538-5016
	 

	 	Email: cmcarthur@homefedonline.com

Notices shall be deemed received (i) if hand delivered, when received, (ii) if given by electronic
mail or facsimile, when transmitted to the email address or facsimile number specified above during
normal business hours and confirmation of complete receipt is received during normal business hours
(provided a copy of the same is sent by overnight delivery service on the same day), (iii) if given
by overnight delivery service, the first business day after being sent prepaid by such overnight
delivery service, or (iv) if given by certified mail, return receipt requested, postage prepaid,
two (2) days after posting with the United States Postal Service. Either party may change its
address by notifying the other party in a manner described above.

          (d) Assignment. This Agreement may not be assigned by the Purchaser without the
Seller’s prior written consent, which may be withheld in the Seller’s sole discretion, In the event
of any assignment of the Purchaser’s rights hereunder, the Purchaser shall remain fully liable for
the performance of the Purchaser’s obligation under this Agreement notwithstanding such assignment.

8

 

          (e) Entire Agreement; Construction; Survival. This Agreement sets forth the
entire agreement between the parties with respect to the subject matter hereof and supersedes all
prior negotiations and agreements, written or oral. This Agreement may be modified only by a
written instrument duly executed by the Seller and the Purchaser. Each provision contained in this
Agreement shall be severable from all other provisions hereof and the invalidity of any such
provision shall not affect the enforceability of the other provisions of this Agreement. This
Agreement shall be construed, performed and enforced under the laws of the jurisdiction in which
the Property is located. Except as provided in Section 14(d), this Agreement shall bind and inure
to the benefit of the patties hereto and their respective heirs, personal representatives,
successors and assigns. In the event the defined term “Purchaser” comprises more than one person
or entity, each person or entity constituting the Purchaser shall be jointly and severally liable
for all of the obligations of the Purchaser hereunder. This Agreement shall survive Closing and
the delivery of the Deed hereunder. Neither this Agreement nor any memorandum of this Agreement
may be recorded. IN THE EVENT OF ANY LEGAL PROCEEDINGS BETWEEN THE PARTIES ARISING OUT OF THIS
AGREEMENT, EACH PARTY HEREBY WAIVES THE RIGHT TO TRIAL BY JURY.

          (f) Confidentiality. The Purchaser agrees that the terms of this Agreement and all
information related to or obtained by the Purchaser, the Purchaser’s officers, employees, agents
and contractors pertaining to the Property shall be kept confidential prior to Closing and after
any termination of this Agreement.

          (g) Counterparts; Delivery. This Agreement may be executed in counterparts by the
parties. It is not necessary that the signatures of the parties appear on the same counterpart or
counterparts. All counterparts shall collectively constitute a single agreement. Executed
counterparts of this Agreement may be delivered by electronic mail or facsimile transmission.

          (h) Days. If any action is required to be performed, or if any notice, consent or
other communication is given, on a day that is a Saturday or Sunday or a legal holiday in the
jurisdiction in which the action is required to be performed or in which is located the intended
recipient of such notice, consent or other communication, such performance shall be deemed to be
required, and such notice, consent or other communication shall be deemed to be given, on the first
business day following such Saturday, Sunday, or legal holiday. Unless otherwise specified herein,
all references herein to a “day” or “days” shall refer to calendar days and not business days.

          (i) No Rules of Construction; Nature of Waivers; Effect of Closing. The Seller and
the Purchaser have each been represented by counsel in the negotiation and execution of this
Agreement; therefore, this Agreement shall be deemed to be drafted jointly by the Seller and the
Purchaser, and no rule of construction shall be invoked respecting the authorship of this
Agreement. The Seller and the Purchaser each hereby acknowledges, represents and warrants that it
is not in a disparate bargaining position with respect to the other party in connection with the
transaction contemplated hereby and that the Seller and the Purchaser freely and fairly agreed to
the waivers and conditions contained in this Agreement as part of the negotiation and execution of
this Agreement. If the transaction contemplated by this Agreement closes, the

9

 

parties shall be deemed to have waived any and all unmet or unsatisfied conditions except as
set forth in a written document executed by both parties in connection with Closing.

          (j) Cooperation in Possible Like-Kind Exchange. The Purchaser agrees to cooperate
with the Seller if the Seller attempts to effect a like-kind exchange under Section 1031 of the
Internal Revenue Code in connection with the sale of the Property.

          (k) OFAC Disclosure. The Purchaser represents and warrants to the Seller (i) that
neither the Purchaser nor any person or entity that directly or indirectly owns any interest in the
Purchaser nor any of its officers, directors or managing members is a person or entity with whom
U.S. persons or entities are restricted from doing business under regulations of the Office of
Foreign Asset Control (“OFAC” of the U.S. Department of the Treasury (including those named on
OFAC’s Specially Designated and Blocked Persons List) or under any statute, executive order
(including, but not limited to, Executive Order 13224 (the “Executive Order”) signed on September
24, 2001 and entitled “Blocking Property and Prohibiting Transactions with Persons Who Commit,
Threaten to Commit, or Support Terrorism”), or other governmental action, (ii) that the Purchaser’s
activities do not violate the International Money Laundering Abatement and Financial Anti-Terrorism
Act of 2001 or the regulations or orders promulgated thereunder (as amended from time to time, the
“Money Laundering Act”), and (iii) that so long as this Agreement is in full force and effect, the
Purchaser shall comply with the Executive Order and with the Money Laundering Act.

          (l) Independent Consideration. If the Purchaser is entitled to have the Deposit
returned to it pursuant to any provision of this Agreement, then a portion of the Deposit in the
amount of $100.00 shall nevertheless be paid to the Seller as good and sufficient consideration for
entering into this Agreement. In addition, the Seller and the Purchaser acknowledge and agree that
the Purchaser will devote internal resources and incur expenses in evaluating the Property and the
Seller will devote internal resources and incur expenses in connection with this Agreement, and
that such efforts and expenses of the Seller and the Purchaser also constitute good, valuable and
sufficient consideration for this Agreement.

          (m) Effective Date. For purposes of this Agreement, the term “Effective Date” shall
be the last date on which this Agreement has been fully executed on behalf of the Seller and the
Purchaser as indicated by the dates adjacent to the signatures of the parties set forth below.

          (n) Automatic Termination. This Agreement shall automatically terminate and become
null and void in the event this Agreement has not been executed on behalf of the Purchaser and the
Escrow Agent and returned to the Seller no later than 5:00 p.m local Atlanta, Georgia time on
Friday, September 5, 2008, TIME BEING OF THE ESSENCE.

[SIGNATURES ON NEXT PAGE]

10

 

     IN WITNESS WHEREOF, the Seller and the Purchaser have executed or caused this Agreement to be
executed on their behalf by their duly authorized representatives as of the dates indicated below.

	 	 	 	 	 
	 	SELLER:

SUNTRUST BANK, a Georgia banking corporation

 	 
	Date: 9/2/08 	By:  	/s/ James K. Culton
 	 
	 	 	      James K. Culton 	 
	 	 	      First Vice President 	 
	 
	 	Federal Tax ID No: 58-0466330

PURCHASER:

HOME FEDERAL HOLDINGS CORPORATION, a Georgia
corporation

 	 
	Date: August 28, 2008 	By:  	/s/ Clyde A. McArthur
 	 
	 	 	 	 
	 	Title:  	 	President 	 
	 

Federal Tax ID No: 26-1822378

11

 

CONSENT OF ESCROW AGENT

     The undersigned executes this Agreement for the purpose of (i) acknowledging receipt of the
Deposit and (ii) agreeing to hold and disburse the Deposit strictly in accordance with the terms
and provisions of this Agreement.

	 	 	 	 	 
	 	LAWYERS TITLE INSURANCE CORPORATION

 	 
	Date:                                          	By:  	/s/ Carol L. Sorensen
 	 
	 	 	 	 
	 	Title:  	 	Vice President 	 

12

 

	 	 	 	 	 

EXHIBIT A

Description of the Property

All that tract or parcel of land lying and being in Land Lot 28 of the 8th Land District, Hall
County, Georgia, and being more fully shown on survey prepared by Henry Grady Jarrard, Registered
Surveyor, dated October 28, 1970, being more particularly described as follows:

BEGINNING at an iron pin corner on the northeasterly right of way of Relocated Mundy’s Mill Road,
which beginning corner is the southwest corner of Pinedale Subdivision; and running thence from
said beginning comer along the south line of the Pinedale Subdivision north 67 degrees 13 minutes
east 1,345.71 feet to an iron pin comer; thence running south 30 degrees 08 minutes west 719.17
feet to an iron pin corner; thence running south 52 degrees 17 minutes west 599 65 feet to a
concrete right of way marker on the northeasterly right of way of relocated Mundy’s Mill Road;
thence following the right of way of said road north 43 degrees 30 minutes west 468.28 feet to a
concrete right of way marker; thence continuing along the road right of way north 32 degrees 58
minutes west 152.54 feet to the POINT OF BEGINNING.

13

 

EXHIBIT B

 

[Space above this line for recorder’s office]

After recording, return to:

LIMITED WARRANTY DEED

     THIS INDENTURE, made as of the                     day of                     , 2008, between SUNTRUST BANK, a Georgia banking
corporation, successor by merger to HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GAINESVILLE (the
“Grantor”), and
                                        , a                                        
(the “Grantee”) (the words “Grantor” and “Grantee” to include their respective heirs,
legal representatives, successors and assigns where the context requires or permits);

WITNESSETH:

     THAT the Grantor, for and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) and
other good and valuable consideration in hand paid at and before the sealing and delivery of these
presents, the receipt and sufficiency whereof are hereby acknowledged, has granted, bargained,
sold, aliened, conveyed and confirmed, and by these

14

 

presents does hereby grant, bargain, sell, alien, convey and confirm unto the Grantee, subject
to the matters described herein, that certain tract or parcel of land lying and being in Hall
County, Georgia, and more particularly described on Exhibit A attached hereto (the “Land”);

     TOGETHER WITH all buildings, structures and improvements thereon and all rights, members,
easements and appurtenances appertaining to the Land and all right, title and interest of the
Grantor in and to public alleys, streets and rights-of-way adjacent to or abutting the Land (the
Land, together with the foregoing, is hereinafter referred to as the “Property”);

     PROVIDED THAT the Property is conveyed subject to all easements, restrictions, covenants,
agreements, conditions and other matters of record that lawfully affect the Property or any part
thereof and all encroachments and other matters that may be revealed by a survey or inspection of
the Property;

     TO HAVE AND TO HOLD the Property with all and singular the rights, members and appurtenances
thereof, to the same being, belonging or in anywise appertaining to the only proper use, benefit
and behoof of the Grantee forever, subject to the matters described herein; and

     AND the Grantor will warrant and forever defend the right and title to the Property unto the
Grantee against the claims of all persons whomsoever claiming by, through or under the Grantor;
except for the matters set forth herein.

15

 

     IN WITNESS WHEREOF, the Grantor has caused this Indenture to be signed, sealed and delivered
on its behalf by its duly authorized representative as of the date set forth above.

	 	 	 	 	 
	Signed, sealed and
	 	 	 	 
	delivered on the       day
	 	 	 	 
	of                      , 2008, in the	 	SUNTRUST BANK
	presence of:
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	Witness
	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 

	 	 	 	                 [SEAL]
	 

Notary Public

	 	 	 	 
	Notary Registration No.:                    
	 	 	 	 
	My Commission Expires:
	 	 	 	 
	[NOTARIAL SEAL]
	 	 	 	 

16

 

EXHIBIT C

SELLER’S TITLE AFFIDAVIT

     Personally appeared before me SUNTRUST BANK, a Georgia banking corporation (the “Seller”),
who, being duly sworn according to law, deposes and says on oath:

     1. The Seller is the owner of the property described on Exhibit A attached hereto (the
“Property”);

     2. No improvements or repairs have been made upon the Property by the Seller during the
ninety-five (95) days immediately preceding the date hereof, or, in the event such improvements or
repairs have been made by the Seller, that they are completed and that all costs incurred in
connection therewith have been fully paid;

     3. There are no outstanding bills incurred by the Seller for labor, services and/or materials
used in making any such improvements or repairs on the Property, or for services of architects,
surveyors or engineers in connection therewith;

     4. There are no pending lawsuits or bankruptcies against the Seller that could in any way
affect title to or possession of the Property;

     5. That, to the actual knowledge of the Seller, there are no persons or parties in possession
of the Property other than the Seller or anyone claiming under it; and

     6. This Affidavit is made with the knowledge that it will be relied upon by                                         
Title Insurance Company to insure title to the Property. No other person or entity shall have the
right to rely upon this Affidavit nor shall any such other person have any claim or cause of action
against the Seller based upon the statements contained herein.

17

 

     IN WITNESS WHEREOF, the Seller has caused this Affidavit to be signed, sealed and delivered on
its behalf by its duly authorized representative as of the date set forth above.

	 	 	 	 	 
	Signed, sealed and
	 	 	 	 
	delivered on the      day
	 	 	 	 
	of                      , 2008, in the	 	SUNTRUST BANK
	presence of:
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	Witness
	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 

	 	 	 	             [SEAL]
	Notary Public
	 	 	 	 
	Notary Registration No :                    
	 	 	 	 
	My Commission Expires:

	 	 	 	 
	[NOTARIAL SEAL]
	 	 	 	 

18

 

EXHIBIT D

BILL OF SALE

     THIS BILL OF SALE, dated as of the      day of                     , 2008, by and between SUNTRUST BANK, a Georgia
banking corporation (the “Seller”), and                                                             , a          
           
(the “Purchaser”), provides:

     THAT for and in consideration of the sum of Ten and 00/100 Dollars ($10.00) paid by the
Purchaser to the Seller contemporaneously with the execution hereof, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Seller, subject to
the matters described herein, hereby grants, bargains, sells, assigns, transfers, sets over and
delivers to the Purchaser all of the right, title and interest of the Seller in and to the
furniture, trade fixtures, equipment and other personal property located on that certain property
situated at 3626 Mundy Mill Road, Gainesville, Georgia as of the date hereof (the “Personal
Property”)

     This Bill of Sale shall be binding upon the parties to this Bill of Sale and their respective
heirs, personal representatives, successors and assigns.

     THE SELLER MAKES NO WARRANTY, EXPRESS OR IMPLIED, WHETHER OF MERCHANTABILITY, FITNESS FOR
A PARTICULAR PURPOSE OR OTHERWISE AS TO ANY ITEM OF PERSONAL PROPERTY CONVEYED HEREUNDER EXCEPT AS
EXPRESSLY SET FORTH HEREIN. THE PURCHASER HAS MADE AND RELIED UPON ITS OWN INSPECTION OF THE
PERSONAL PROPERTY AND ACCEPTS IT IN “AS IS, WHERE IS” CONDITION.

     IN WITNESS WHEREOF, the Seller has caused this Bill of Sale to be executed on its behalf by
its duly authorized representative as of the date set forth above.

	 	 	 	 	 
	 	 	SUNTRUST BANK, a Georgia banking corporation
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 

19

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