Document:

<PAGE>   1
                                                                   EXHIBIT 10.6

                          INCENTIVE STOCK OPTION AWARD
                      PURSUANT TO THE SUN BANCSHARES, INC.
                           2000 STOCK INCENTIVE PLAN

         THIS AWARD is made as of the Grant Date by SUN BANCSHARES, INC. (the
"Company") to _________________________ (the "Optionee").

         Upon and subject to the Terms and Conditions attached hereto and
incorporated herein by reference, the Company hereby awards as of the Grant
Date to Optionee an incentive stock option (the "Option"), as described below,
to purchase the Option Shares.

         A. Grant Date: _________________________.

         B. Type of Option: Incentive Stock Option.

         C. Plan under which granted: Sun Bancshares, Inc. 2000 Stock Incentive
            Plan.

         D. Option Shares: All or any part of _____ shares of the Company's
            $1.00 par value common stock (the "Common Stock"), subject to
            adjustment as provided in the attached Terms and Conditions.

         E. Exercise Price: $________ per share, subject to adjustment as
            provided in the attached Terms and Conditions. The Exercise Price
            is, in the judgment of the Committee, not less than 100% of the
            Fair Market Value of a share of Common Stock on the Grant Date or,
            in the case of an Over 10% Owner, not less than 110% of the Fair
            Market Value of a share of Common Stock on the Grant Date.

         F. Option Period: The Option may be exercised only during the Option
            Period which commences on the Grant Date and ends, generally, on
            the earlier of (a) the tenth (10th) anniversary of the Grant Date
            (unless the Optionee is an Over 10% Owner, in which case the fifth
            (5th) anniversary of the Grant Date); or (b) 90 days following the
            date the Optionee ceases to be an employee of the Company
            (including any Parent or Subsidiary); provided that the Option may
            be exercised as to no more than the vested Option Shares,
            determined pursuant to the Vesting Schedule. Note that other
            limitations to exercising the Option, as described in the attached
            Terms and Conditions, may apply.

         G. Vesting Schedule: The Option Shares shall become vested in
            accordance with Schedule 1 hereto.

         IN WITNESS WHEREOF, the Company has executed and sealed this Award as
of the Grant Date set forth above.

                                                   SUN BANCSHARES, INC.

                                                   By:
                                                     --------------------------
                                                   Title:
                                                         ----------------------

<PAGE>   2

                              TERMS AND CONDITIONS
                                     TO THE
                          INCENTIVE STOCK OPTION AWARD
                      PURSUANT TO THE SUN BANCSHARES, INC.
                           2000 STOCK INCENTIVE PLAN

         1.       Exercise of Option. Subject to the provisions provided herein
or in the Award made pursuant to the Sun Bancshares, Inc. 2000 Stock Incentive
Plan:

                  (a)   the Option may be exercised with respect to all or any
         portion of the vested Option Shares at any time during the Option
         Period by the delivery to the Company, at its principal place of
         business, of a written notice of exercise in substantially the form
         attached hereto as Exhibit 1, which shall be actually delivered to the
         Company no earlier than thirty (30) days and no later than ten (10)
         days prior to the date upon which Optionee desires to exercise all or
         any portion of the Option; and

                  (b)   payment to the Company of the Exercise Price multiplied
         by the number of Option Shares being purchased (the "Purchase Price")
         as provided in Section 2.

                  (c)   Notwithstanding any other provision of this Agreement,
         in the event that the capital of the Bank falls below the minimum
         requirements determined by the primary Federal regulator of the Bank
         (the "Regulator"), the Regulator may direct the Company to require the
         Optionee to exercise, or otherwise forfeit, the Option in whole or in
         part. If the Regulator gives such direction, the Company will notify
         the Optionee within forty-five (45) days from the date the Regulator
         notifies the Company or the Bank in writing that the Optionee must
         exercise, or otherwise forfeit, the Option in whole or in part. If the
         Optionee does not exercise the Option in accordance with the Company's
         direction within twenty-one (21) days of the Company's notification to
         the Optionee, the Committee may provide for the cancellation of the
         Option.

Upon acceptance of such notice and receipt of payment in full of the Purchase
Price, the Company shall cause to be issued a certificate representing the
Option Shares purchased.

         2.       Purchase Price. Payment of the Purchase Price for all Option
Shares purchased pursuant to the exercise of an Option shall be made in cash,
certified check or if and when the Common Stock becomes traded by brokers,
whether on a national securities exchange or otherwise, by receipt of the
Purchase Price in cash from a broker, dealer or other "creditor" as defined by
Regulation T issued by the Board of Governors of the Federal Reserve System
following delivery by the Optionee to the

                                       2
<PAGE>   3

         Committee of instructions in a form acceptable to the Committee
         regarding delivery to such broker, dealer or other creditor of that
         number of Option Shares with respect to which the Option is exercised.

         3.       Rights as Shareholder. Until the stock certificates reflecting
the Option Shares accruing to the Optionee upon exercise of the Option are
issued to the Optionee, the Optionee shall have no rights as a shareholder with
respect to such Option Shares. The Company shall make no adjustment for any
dividends or distributions or other rights on or with respect to Option Shares
for which the record date is prior to the issuance of that stock certificate,
except as the Plan or the attached Award otherwise provides.

         4.       Restriction on Transfer of Option and of Option Shares. The
Option evidenced hereby is nontransferable other than by will or the laws of
descent and distribution and shall be exercisable during the lifetime of the
Optionee only by the Optionee (or in the event of his Disability, by his
personal representative) and after his death, only by his legatee or the
executor of his estate.

         5.       Changes in Capitalization.

                  (a)   If the number of shares of Common Stock shall be
         increased or decreased by reason of a subdivision or combination of
         shares of Common Stock, the payment of a stock dividend in shares of
         Common Stock or any other increase or decrease in the number of shares
         of Common Stock outstanding effected without receipt of consideration
         by the Company, an appropriate adjustment shall be made by the
         Committee, in a manner determined in its sole discretion, in the
         number and kind of Option Shares and in the Exercise Price.

                  (b)   If the Company shall be the surviving corporation in any
         merger consolidation, extraordinary dividend (including spin-off)
         recapitalization, reclassification of shares or similar
         reorganization, the Optionee shall be entitled to purchase the number
         and class of securities to which a holder of the number of shares of
         Common Stock subject to the Option at the time of the transaction
         would have been entitled to receive as a result of such transaction,
         and a corresponding adjustment, where appropriate, shall be made in
         the Exercise Price. In the event of a Change in Control or other
         corporate transaction pursuant to which the Company is not the
         surviving entity, the Committee may provide for the assumption of the
         Option by the surviving entity or the substitution of a new option,
         adjusted in a manner similar to that contemplated by the immediately
         preceding sentence; however, if the surviving entity does not agree to
         the assumption or substitution of the Option, the Committee may elect
         to terminate the Option Period as of the effective date of the Change
         in Control in consideration of the payment to the Optionee of the sum
         of the difference between the then aggregate Fair Market Value of the
         Common Stock and the aggregate Exercise Price for each Option Share
         which has not been exercised as of the effective date of the Change in
         Control. A dissolution or liquidation of the Company shall cause the
         Option to terminate as to any portion thereof not exercised as of the
         effective date of the dissolution or liquidation.

                  (c)   The existence of the Plan and the Option granted
         pursuant to this Agreement shall not affect in any way the right or
         power of the Company to make or authorize any adjustment,
         reclassification, reorganization or other change in its capital or
         business structure, any merger or consolidation of the Company, any
         issue of debt or equity securities having

                                       3
<PAGE>   4

         preferences or priorities as to the Common Stock or the rights
         thereof, the dissolution or liquidation of the Company, any sale or
         transfer of all or any part of its business or assets, or any other
         corporate act or proceeding. Any adjustment pursuant to this Section
         may provide, in the Committee's discretion, for the elimination
         without payment therefor of any fractional shares that might otherwise
         become subject to any Option.

         6.       Special Limitation on Exercise. No purported exercise of the
Option shall be effective without the approval of the Committee, which may be
withheld to the extent that the exercise, either individually or in the
aggregate together with the exercise of other previously exercised stock
options and/or offers and sales pursuant to any prior or contemplated offering
of securities, would, in the sole and absolute judgment of the Committee,
require the filing of a registration statement with the United States
Securities and Exchange Commission or with the securities commission of any
state. If a registration statement is not in effect under the Securities Act of
1933 or any applicable state securities law with respect to shares of Common
Stock purchasable or otherwise deliverable under the Option, the Optionee (a)
shall deliver to the Company, prior to the exercise of the Option or as a
condition to the delivery of Common Stock pursuant to the exercise of an Option
exercise, such information, representations and warranties as the Company may
reasonably request in order for the Company to be able to satisfy itself that
the Option Shares are being acquired in accordance with the terms of an
applicable exemption from the securities registration requirements of
applicable federal and state securities laws and (b) shall agree that the
shares of Common Stock so acquired will not be disposed of except pursuant to
an effective registration statement, unless the Company shall have received an
opinion of counsel that such disposition is exempt from such requirement under
the Securities Act of 1933 and any applicable state securities law.

         7.       Legend on Stock Certificates. Certificates evidencing the
Option Shares, to the extent appropriate at the time, shall have noted
conspicuously on the certificates a legend intended to give all persons full
notice of the existence of the conditions, restrictions, rights and obligations
set forth herein and in the Plan.

         8.       Governing Laws. This Award and the Terms and Conditions shall
be construed, administered and enforced according to the laws of the State of
South Carolina.

         9.       Successors. This Award and the Terms and Conditions shall be
binding upon and inure to the benefit of the heirs, legal representatives,
successors and permitted assigns of the Optionee and the Company.

         10.      Notice. Except as otherwise specified herein, all notices and
other communications under this Award shall be in writing and shall be deemed
to have been given if personally delivered or if sent by registered or
certified United States mail, return receipt requested, postage prepaid,
addressed to the proposed recipient at the last known address of the recipient.
Any party may designate any other address to which notices shall be sent by
giving notice of the address to the other parties in the same manner as
provided herein.

         11.      Severability. In the event that any one or more of the
provisions or portion thereof contained in the Award and these Terms and
Conditions shall for any reason be held to be invalid, illegal or unenforceable
in any respect, the same shall not invalidate or otherwise affect any other
provisions of the Award and these Terms and

                                       4
<PAGE>   5

Conditions, and the Award and these Terms and Conditions shall be construed as
if the invalid, illegal or unenforceable provision or portion thereof had never
been contained herein.

         12.      Entire Agreement. Subject to the terms and conditions of the
Plan, the Award and the Terms and Conditions express the entire understanding
of the parties with respect to the Option.

         13.      Violation. Any transfer, pledge, sale, assignment, or
hypothecation of the Option or any portion thereof shall be a violation of the
terms of the Award or these Terms and Conditions and shall be void and without
effect.

         14.      Headings and Capitalized Terms. Section headings used herein
are for convenience of reference only and shall not be considered in construing
the Award or these Terms and Conditions. Capitalized terms used, but not
defined, in either the Award or the Terms and Conditions shall be given the
meaning ascribed to them in the Plan.

         15.      Specific Performance. In the event of any actual or threatened
default in, or breach of, any of the terms, conditions and provisions of the
Award and these Terms and Conditions, the party or parties who are thereby
aggrieved shall have the right to specific performance and injunction in
addition to any and all other rights and remedies at law or in equity, and all
such rights and remedies shall be cumulative.

         16.      No Right to Continued Retention. Neither the establishment of
the Plan nor the award of Option Shares hereunder shall be construed as giving
the Optionee the right to continued employment with the Company or any
affiliate.

         17.      Qualified Status of Option. In accordance with Section 2.4 of
the Plan, the aggregate Fair Market Value (determined as of the date an
Incentive Stock Option is granted) of the Option Shares which become
exercisable for the first time by an individual during any calendar year shall
not exceed $100,000. If the foregoing limitation is exceeded with respect to
any portion of the Option Shares, that portion of the Option Shares which cause
the limitation to be exceeded shall be treated as a Non-Qualified Stock Option.

                                       5
<PAGE>   6

                                   EXHIBIT 1

                             NOTICE OF EXERCISE OF
                            STOCK OPTION TO PURCHASE
                                COMMON STOCK OF
                              SUN BANCSHARES, INC.

                              Name
                                  ----------------------------------------
                              Address
                                     -------------------------------------

                              --------------------------------------------
                              Date
                                  ----------------------------------------

Sun Bancshares, Inc.
U.S. Highway 17
Murrells Inlet, SC  29576
Attn:  Corporate Secretary

Re:      Exercise of Incentive Stock Option

Gentlemen:

         Subject to acceptance hereof by Sun Bancshares, Inc. (the "Company")
and pursuant to the provisions of the Sun Bancshares, Inc. 2000 Stock Incentive
Plan (the "Plan"), I hereby give notice of my election to exercise options
granted to me to purchase ______________ shares of Common Stock of the Company
under the Incentive Stock Option Award (the "Award") dated as of ____________.
The purchase shall take place as of __________, 200__ (the "Exercise Date").

         On or before the Exercise Date, I will pay the applicable purchase
price as follows:

           [ ] by delivery of cash or a certified check for $___________ for
               the full purchase price payable to the order of Sun Bancshares,
               Inc.

                            Exhibit 1 - Page 1 of 4

<PAGE>   7

           [ ] by delivery of the purchase price by _________________________,
               a broker, dealer or other "creditor" as defined by Regulation T
               issued by the Board of Governors of the Federal Reserve System.
               I hereby authorize the Company to issue a stock certificate for
               the number of shares indicated above in the name of said broker,
               dealer or other creditor or its nominee pursuant to instructions
               received by the Company and to deliver said stock certificate
               directly to that broker, dealer or other creditor (or to such
               other party specified in the instructions received by the
               Company from the broker, dealer or other creditor) upon receipt
               of the purchase price.

         As soon as the stock certificate is registered in my name, please
deliver it to me at the above address.

         If the Common Stock being acquired is not registered for issuance to
and resale by the Optionee pursuant to an effective registration statement on
Form S-8 (or successor form) filed under the Securities Act of 1933, as amended
(the "1933 Act"), I hereby represent, warrant, covenant, and agree with the
Company as follows:

         The shares of the Common Stock being acquired by me will be acquired
         for my own account without the participation of any other person, with
         the intent of holding the Common Stock for investment and without the
         intent of participating, directly or indirectly, in a distribution of
         the Common Stock and not with a view to, or for resale in connection
         with, any distribution of the Common Stock, nor am I aware of the
         existence of any distribution of the Common Stock;

         I am not acquiring the Common Stock based upon any representation,
         oral or written, by any person with respect to the future value of, or
         income from, the Common Stock but rather upon an independent
         examination and judgment as to the prospects of the Company;

         The Common Stock was not offered to me by means of publicly
         disseminated advertisements or sales literature, nor am I aware of any
         offers made to other persons by such means;

         I am able to bear the economic risks of the investment in the Common
         Stock, including the risk of a complete loss of my investment therein;

         I understand and agree that the Common Stock will be issued and sold
         to me without registration under any state law relating to the
         registration of securities for sale, and will

                            Exhibit 1 - Page 2 of 4

<PAGE>   8

         be issued and sold in reliance on the exemptions from registration
         under the 1933 Act, provided by Sections 3(b) and/or 4(2) thereof and
         the rules and regulations promulgated thereunder;

         The Common Stock cannot be offered for sale, sold or transferred by me
         other than pursuant to: (A) an effective registration under the 1933
         Act or in a transaction otherwise in compliance with the 1933 Act; and
         (B) evidence satisfactory to the Company of compliance with the
         applicable securities laws of other jurisdictions. The Company shall
         be entitled to rely upon an opinion of counsel satisfactory to it with
         respect to compliance with the above laws;

         The Company will be under no obligation to register the Common Stock
         or to comply with any exemption available for sale of the Common Stock
         without registration or filing, and the information or conditions
         necessary to permit routine sales of securities of the Company under
         Rule 144 under the 1933 Act are not now available and no assurance has
         been given that it or they will become available. The Company is under
         no obligation to act in any manner so as to make Rule 144 available
         with respect to the Common Stock;

         I have and have had complete access to and the opportunity to review
         and make copies of all material documents related to the business of
         the Company, including, but not limited to, contracts, financial
         statements, tax returns, leases, deeds and other books and records. I
         have examined such of these documents as I wished and am familiar with
         the business and affairs of the Company. I realize that the purchase
         of the Common Stock is a speculative investment and that any possible
         profit therefrom is uncertain;

         I have had the opportunity to ask questions of and receive answers
         from the Company and any person acting on its behalf and to obtain all
         material information reasonably available with respect to the Company
         and its affairs. I have received all information and data with respect
         to the Company which I have requested and which I have deemed relevant
         in connection with the evaluation of the merits and risks of my
         investment in the Company;

         I have such knowledge and experience in financial and business matters
         that I am capable of evaluating the merits and risks of the purchase
         of the Common Stock hereunder and I am able to bear the economic risk
         of such purchase; and

         The agreements, representations, warranties and covenants made by me
         herein extend to and apply to all of the Common Stock of the Company
         issued to me pursuant to this Award. Acceptance by me of the
         certificate representing such Common Stock shall constitute a
         confirmation by me that all such agreements, representations,
         warranties and covenants made herein shall be true and correct at that
         time.

         I understand that the certificates representing the shares being
         purchased by me in accordance with this notice shall bear a legend
         referring to the foregoing covenants, representations and warranties
         and restrictions on transfer, and I agree that a legend to that effect
         may be placed

                            Exhibit 1 - Page 3 of 4
<PAGE>   9

         on any certificate which may be issued to me as a substitute for the
         certificates being acquired by me in accordance with this notice. I
         further understand that capitalized terms used in this Notice of
         Exercise without definition shall have the meanings given to them in
         the Plan.

         Very truly yours,

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

AGREED TO AND ACCEPTED:

SUN BANCSHARES, INC.

By:
   -----------------------------

Title:
      --------------------------

Number of Shares
Exercised:
         -----------------------

Number of Shares
Remaining:                                           Date:
          ----------------------                         ---------------------

                            Exhibit 1 - Page 4 of 4

<PAGE>   10

                                   SCHEDULE 1
                                VESTING SCHEDULE
                          INCENTIVE STOCK OPTION AWARD
                             ISSUED PURSUANT TO THE
                              SUN BANCSHARES, INC.
                           2000 STOCK INCENTIVE PLAN

A.       The Option Shares shall become vested Option Shares following
         completion of the years of service as an employee of the Company or
         any Parent or Subsidiary as indicated in the schedule below.

<TABLE>
<CAPTION>
         Percentage of Option Shares       Years of Service
         Which are Vested Shares           after the Grant Date
         ---------------------------       --------------------
         <S>                               <C>

                  20%                              1
                  40%                              2
                  60%                              3
                  80%                              4
                 100%                              5
</TABLE>

B.       Notwithstanding Part A, in the event of a Change in Control prior to
         the third anniversary of the Grant Date, the Option shall become
         vested as indicated in the following Vesting Schedule:

<TABLE>
<CAPTION>
         Percentage of Option Shares       Years of Service
         Which are Vested Shares           after the Grant Date
         ---------------------------       --------------------
         <S>                               <C>
                 33 1/3%                           1
                 66 2/3%                           2
                100%                               3
</TABLE>

C.       Notwithstanding Part A, in the event of a Change in Control subsequent
         to the third anniversary of the Grant Date, the Option will be fully
         vested as of a date determined by the Committee which is no less than
         thirty (30) days prior to the effective date of the Change in Control.

D.       For purposes of the Vesting Schedule, Optionee shall be granted a year
         of service for each twelve-consecutive-month period following the
         Grant Date and during which Optionee continues, at all times, as an
         employee of the Company or any Parent or Subsidiary.

                            Schedule 1 - Page 1 of 1<PAGE>   1
                                                                    EXHIBIT 10.7

                                PROMISSORY NOTE
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------------------
<S>              <C>             <C>              <C>           <C>       <C>               <C>           <C>         <C>
 PRINCIPAL       LOAN DATE        MATURITY        LOAN NO       CALL      COLLATERAL        ACCOUNT       OFFICER     INITIALS
$1,500,000.00    06-19-2000      11-30-2000                                                                 JMB
----------------------------------------------------------------------------------------------------------------------------------
Reference in the shaded area are for lender's use only and do not limit the applicability of this document to any particular loan
or item.
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Borrower:    Sun Bancshares, Inc. (IO)          Lender:  THE BANKERS BANK
             P.O. Box 1359                               2410 PACES FERRY ROAD
             Murrells Inlet, SC  29576                   600 PACES SUMMIT
                                                         ATLANTA, GA 30339
<TABLE>

==============================================================================================
<S>                                 <C>                        <C>
   Principal Amount: $1,500,000.00  Initial Rate:  9.000%      Date of Note:  June 19, 2000
</TABLE>

   PROMISE TO PAY. SUN BANCSHARES, INC. (IO) ("BORROWER") PROMISES TO PAY TO THE
   BANKERS BANK ("LENDER"), OR ORDER, IN LAWFUL MONEY OF THE UNITED STATES OF
   AMERICA, THE PRINCIPAL AMOUNT OF ONE MILLION FIVE HUNDRED THOUSAND & 00/100
   DOLLARS ($1,500,000.00) OR SO MUCH AS MAY BE OUTSTANDING, TOGETHER WITH
   INTEREST ON THE UNPAID OUTSTANDING PRINCIPAL BALANCE OF EACH ADVANCE.
   INTEREST SHALL BE CALCULATED FROM THE DATE OF EACH ADVANCE UNTIL REPAYMENT OF
   EACH ADVANCE.

   PAYMENT. BORROWER WILL PAY THIS LOAN IN ONE PAYMENT OF ALL OUTSTANDING
   PRINCIPAL PLUS ALL ACCRUED UNPAID INTEREST ON NOVEMBER 30, 2000. IN
   ADDITION, BORROWER WILL PAY REGULAR QUARTERLY PAYMENTS OF ACCRUED UNPAID
   INTEREST BEGINNING SEPTEMBER 19, 2000, AND ALL SUBSEQUENT INTEREST PAYMENTS
   ARE DUE ON THE SAME DAY OF EACH QUARTER AFTER THAT. Borrower will pay Lender
   at Lender's address shown above or at such other place as Lender may
   designate in writing. Unless otherwise agreed or required by applicable law,
   payments will be applied first to accrued unpaid interest, then to principal,
   and any remaining amount to any unpaid collection costs and late charges.

   VARIABLE INTEREST RATE. The interest rate on this Note is subject to change
   from time to time based on changes in an index which is the Prime rate as
   published in the Money Rates section of the Wall Street Journal. (the
   "Index"). If two or more rates exist, then the highest rate will prevail.
   Lender will tell Borrower the current Index rate upon Borrower's request.
   Borrower understands that Lender may make loans based on other rates as well.
   The interest rate change will not occur more often than each day. THE INDEX
   CURRENTLY IS 9.500% PER ANNUM. THE INTEREST RATE TO BE APPLIED TO THE UNPAID
   PRINCIPAL BALANCE OF THIS NOTE WILL BE AT A RATE OF 0.500 PERCENTAGE POINTS
   UNDER THE INDEX, RESULTING IN AN INITIAL ANNUAL RATE OF SIMPLE INTEREST OF
   9.000%. NOTICE: Under no circumstances will the interest rate on this Note be
   more than the maximum rate allowed by applicable law.

   PREPAYMENT. Borrower may pay without penalty all or a portion of the amount
   owed earlier than it is due. Early payments will not, unless agreed to by
   Lender in writing, relieve Borrower of Borrower's obligation to continue to
   make payments of accrued unpaid interest. Rather, they will reduce the
   principal balance due.

   LATE CHARGE. If a payment is 15 DAYS OR MORE LATE, Borrower will be charged
   $100.00.

   DEFAULT. Borrower will be in default if any of the following happens: (a)
   Borrower fails to make any payment when due. (b) Borrower breaks any promise
   Borrower has made to Lender, or Borrower falls to comply with or to perform
   when due any other term, obligation, covenant, or condition contained in this
   Note or any agreement related to this Note, or in any other agreement or loan
   Borrower has with Lender. (c) Any representation or statement made or
   furnished to Lender by Borrower or on Borrower's behalf is false or
   misleading in any material respect either now or at the time made or
   furnished. (d) Borrower becomes insolvent, a receiver is appointed for any
   part of Borrower's property, Borrower makes an assignment for the benefit of
   creditors, or any proceeding is commenced either by Borrower or against
   Borrower under any bankruptcy or insolvency laws. (e) Any creditor tries to
   take any of Borrower's property on or in which Lender has a lien or security
   interest. This includes a garnishment of any of Borrower's accounts with
   Lender. (f) Any guarantor dies or any of the other events described in this
   default section occurs with respect to any guarantor of this Note. (g) A
   material adverse change occurs in Borrower's financial condition, or Lender
   believes the prospect of payment or performance of the Indebtedness is
   impaired. (h) Lender in good faith deems itself insecure.

   LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
   balance on this Note and all accrued unpaid interest immediately due, without
   notice, and then Borrower will pay that amount. Upon default, including
   failure to pay upon final maturity, Lender, at its option, may also, if
   permitted under applicable law, increase the variable interest rate on this
   Note 3.000 percentage points. The interest rate will not exceed the maximum
   rate permitted by applicable law. Lender may hire or pay someone else to help
   collect this Note if Borrower does not pay. Borrower also will pay Lender
   that amount. This includes, subject to any limits under applicable law,
   Lender's, costs of collection, including court costs and fifteen percent
   (15%) of the principal plus accrued interest as attorneys' fees, if any sums
   owing under this Note are collected by or through an attorney-at-law, whether
   or not there is a lawsuit, and legal expenses for bankruptcy proceedings
   (including efforts to modify or vacate any automatic stay or injunction),
   appeals, and any anticipated post-judgment collection services. If not
   prohibited by applicable law, Borrower also will pay any court costs, in
   addition to all other sums provided by law. THIS NOTE HAS BEEN DELIVERED TO
   LENDER AND ACCEPTED BY LENDER in THE STATE OF GEORGIA. SUBJECT TO THE
   PROVISIONS ON ARBITRATION, THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
   ACCORDANCE WITH THE LAWS OF THE STATE OF GEORGIA.

   DISHONORED ITEM FEE. Borrower will pay a fee to Lender of twenty dollars
   ($20.00) or five percent (5%) of the face amount of the check, whichever is
   greater, if Borrower makes a payment on Borrower's loan and the check or
   preauthorized charge with which Borrower pays is later dishonored.

   RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory security
   interest in, and hereby assigns, conveys, delivers, pledges, and transfers to
   Lender all Borrower's right, title and interest in and to, Borrower's
   accounts with Lender (whether checking, savings, or some other account),
   including without limitation all accounts held jointly with someone else and
   all accounts Borrower may open in the future, excluding however all IRA and
   Keogh accounts, and all trust accounts for which the grant of a security
   interest would be prohibited by law. Borrower authorizes Lender, to the
   extent permitted by applicable law, to charge or setoff all sums owing on
   this Note against any and all such accounts.

<PAGE>   2

01-26-2000                       PROMISSORY NOTE                         PAGE 2
LOAN NO                            (CONTINUED)

===============================================================================

   LINE OF CREDIT. This Note evidences a revolving line of credit. Advances
   under this Note, as well as directions for payment from Borrower's accounts,
   may be requested orally or in writing by Borrower or by an authorized person.
   Lender may, but need not, require that all oral requests be confirmed in
   writing. Borrower agrees to be liable for all sums either: (a) advanced in
   accordance with the instructions of an authorized person or (b) credited to
   any of Borrower's accounts with Lender. The unpaid principal balance owing on
   this Note at any time may be evidenced by endorsements on this Note or by
   Lender's internal records, including daily computer print-outs. Lender will
   have no obligation to advance funds under this Note if: (a) Borrower or any
   guarantor is in default under the terms of this Note or any agreement that
   Borrower or any guarantor has with Lender, including any agreement made in
   connection with the signing of this Note; (b) Borrower or any guarantor
   ceases doing business or is insolvent; (c) any guarantor seeks, claims or
   otherwise attempts to limit, modify or revoke such guarantor's guarantee of
   this Note or any other loan with Lender; (d) Borrower has applied funds
   provided pursuant to this Note for purposes other than those authorized by
   Lender; or (e) Lender in good faith deems itself insecure under this Note or
   any other agreement between Lender and Borrower.

   ARBITRATION. LENDER AND BORROWER AGREE THAT ALL DISPUTES, CLAIMS AND
   CONTROVERSIES BETWEEN THEM, WHETHER INDIVIDUAL, JOINT, OR CLASS IN NATURE,
   ARISING FROM THIS NOTE OR OTHERWISE, INCLUDING WITHOUT LIMITATION CONTRACT
   AND TORT DISPUTES, SHALL BE ARBITRATED PURSUANT TO THE RULES OF THE AMERICAN
   ARBITRATION ASSOCIATION, UPON REQUEST OF EITHER PARTY. No act to take or
   dispose of any collateral securing this Note shall constitute a waiver of
   this arbitration agreement or be prohibited by this arbitration agreement.
   This includes, without limitation, obtaining injunctive relief or a temporary
   restraining order; invoking a power of sale under any deed of trust or
   mortgage; obtaining a writ of attachment or imposition of a receiver; or
   exercising any rights relating to personal property, including taking or
   disposing of such property with or without judicial process pursuant to
   Article 9 of the Uniform Commercial Code. Any disputes, claims, or
   controversies concerning the lawfulness or reasonableness of any act, or
   exercise of any right, concerning any collateral securing this Note,
   including any claim to rescind, reform, or otherwise modify any agreement
   relating to the collateral securing this Note, shall also be arbitrated,
   provided however that no arbitrator shall have the right or the power to
   enjoin or restrain any act of any party. Judgment upon any award rendered by
   any arbitrator may be entered in any court having jurisdiction. Nothing in
   this Note shall preclude any party from seeking equitable relief from a court
   of competent jurisdiction. The statute of limitations, estoppel, waiver,
   laches, and similar doctrines which would otherwise be applicable in an
   action brought by a party shall be applicable in any arbitration proceeding,
   and the commencement of an arbitration proceeding shall be deemed the
   commencement of an action for these purposes. The Federal Arbitration Act
   shall apply to the construction, interpretation, and enforcement of this
   arbitration provision.

   ACCRUAL METHOD.  Interest will be calculated on an Actual/360 basis.

   GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its rights or
   remedies under this Note without losing them. Borrower and any other person
   who signs, guarantees or endorses this Note, to the extent allowed by law,
   waive presentment, demand for payment, protest and notice of dishonor. Upon
   any change in the terms of this Note, and unless otherwise expressly stated
   in writing, no party who signs this Note, whether as maker, guarantor,
   accommodation maker or endorser, shall be released from liability. All such
   parties waive any right to require Lender to take action against any other
   party who signs this Note as provided in O.C.G.A. Section 10-7-24 and agree
   that Lender may renew or extend (repeatedly and for any length of time) this
   loan, or release any party or guarantor or collateral; or impair, fail to
   realize upon or perfect Lender's security interest in the collateral; and
   take any other action deemed necessary by Lender without the consent of or
   notice to anyone. All such parties also agree that Lender may modify this
   loan without the consent of or notice to anyone other than the party with
   whom the modification is made.

   IN WITNESS WHEREOF, THIS NOTE HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED,
   WHO ACKNOWLEDGES A COMPLETED COPY HEREOF.

   BORROWER:

   Sun Bancshares, Inc. (IO)

   By:   /s/ Thomas Bouchette                        (SEAL)
      -----------------------------------------------
       Thomas Bouchette, President

   LENDER:

   THE BANKERS BANK

   By:
      -----------------------------------------------
      Authorized Officer

===============================================================================

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