Document:

EXHIBIT  10.33

 

REPUBLIC BANK & TRUST
COMPANY

REPUBLIC BANK BUILDING

SPRINGHURST, FIRST FLOOR

11-01-05

 

 

LOUISVILLE, KENTUCKY

 

INDEX TO LEASE

 

	
  Article

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  I.

  	
   

  	
   

  	
  Premises

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  II.

  	
   

  	
   

  	
  Term

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  III.

  	
   

  	
   

  	
  Rent

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IV.

  	
   

  	
   

  	
  Use

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  V.

  	
   

  	
   

  	
  Possession

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  VI.

  	
   

  	
   

  	
  Services to be Provided

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  VII.

  	
   

  	
   

  	
  Maintenance, Repair, Alterations,
  Construction

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  VIII.

  	
   

  	
   

  	
  Access

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IX.

  	
   

  	
   

  	
  Damage or Destruction

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  X.

  	
   

  	
   

  	
  Indemnity

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XI.

  	
   

  	
   

  	
  Remedies

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XII.

  	
   

  	
   

  	
  Insurance

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XIII.

  	
   

  	
   

  	
  Liens

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XIV.

  	
   

  	
   

  	
  Assignment; Subletting; Mortgaging

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XV.

  	
   

  	
   

  	
  Estoppel Certificate

  	
   

  	
  10

  

 

1

 

	
  Article

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XVI.

  	
   

  	
   

  	
  Taxes

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XVII.

  	
   

  	
   

  	
  Priority of Lease

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XVIII.

  	
   

  	
   

  	
  Fixtures and Personal
  Property; Surrender

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XIX.

  	
   

  	
   

  	
  Hold over Tenancy

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XX.

  	
   

  	
   

  	
  Waiver of Subrogation

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XXI.

  	
   

  	
   

  	
  Notices

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XXII.

  	
   

  	
   

  	
  Rights Reserved by
  Landlord

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XXIII.

  	
   

  	
   

  	
  Condemnation

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  XXIV.

  	
   

  	
   

  	
  Miscellaneous
  Provisions

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit A

  	
   

  	
   

  	
  Rules

  	
   

  	
  16

  

 

2

 

OFFICE LEASE

 

THIS LEASE, effectively dated the first day
of November 2005, but executed this 16th day of November 2005, between Jaytee
Properties, a Kentucky general partnership, hereinafter referred to as
“Landlord” and Republic Bank & Trust Company, hereinafter referred to as
the “Tenant”. As parties hereto, Landlord and Tenant agree:

 

ARTICLE I.
PREMISES

 

SECTION 1. Tenant
leases from Landlord and Landlord leases to Tenant the following described
premises (hereinafter called the “Premises”):

 

Being approximately 4,060 rentable square
feet of rentable office space located on the first floor in the Republic Bank
Building (hereinafter called “the Building”) located at 9600 Brownsboro
Road  in Jefferson County, Kentucky.

 

SECTION 2. The
Premises shall be provided in “as is” condition. Any remodeling construction
and/or redecorating within the Premises shall be performed to the complete and
absolute satisfaction of Landlord. The Landlord’s written approval shall be
obtained by Tenant prior to commencement of any and all improvements and the
construction of improvements shall be supervised and approved by Landlord on a
continuous basis.

 

SECTION 3. This
lease confers no rights with respect to the Building other than tenancy of the
Premises and the non-exclusive license to use, during such tenancy, the
following facilities provided by Landlord: (i) toilet facilities on the floor
which the Premises are located (and such other toilet facilities located
elsewhere in the Building as may be designated by Landlord for the general use
of tenants); and (ii) the public entrances to, and main floor lobby in, the
Building; (iii) the passenger elevators serving the Building; (iv) the areas
adjacent to the Building dedicated from time to time for parking purposes by
Landlord for the parking of motor vehicles; and (v) the roadways and
passageways adjacent to the Building for passage by motor vehicle and on foot,
as said roadways and passageways may respectively be dedicated by Landlord.

 

ARTICLE II.
TERM

 

SECTION 1. Landlord
leases the Premises to Tenant, and Tenant hires and takes the Premises from
Landlord, for a term of five (5) Lease Years commencing on November 1, 2005,
(the “Lease Commencement Date”) and expiring at midnight on the last day of the
sixtieth month thereafter, October 31, 2010, unless sooner terminated or
otherwise extended pursuant to the terms hereof. “Lease Year” shall mean a year
period beginning on the first day of a month, which is the first calendar month
of the term of the Lease and ending on the day before the anniversary of the
first day of such year.

 

SECTION 2. Tenant
shall have one (1) five-year option to renew this Lease for the sum of Six
Thousand Seven Hundred Sixty-Six dollars and 00/100 ($6,766.00) per month per
the initial term rate plus a rent adjustment proportionate to the increase in
the Consumer Price Index for all urban consumers during the initial term
pursuant to this Lease. Tenant shall notify Landlord of Tenant’s intent to
exercise this option herein provided within 90 days of the expiration of the
initial term of the additional space referenced in this paragraph or this
option to renew shall expire.

 

ARTICLE
III. RENT

 

SECTION 1. Tenant
shall pay to Landlord, at Landlord’s office in the Building or at such place as
Landlord may from time to time designate, as rental for the Premises, the sum
of Six Thousand Seven Hundred Sixty-six Dollars and 00/100 ($6,766.00) per
month (the “Rent”). Rent shall be payable in advance on the first day of each
calendar month during the first five Lease Years beginning on the Lease
Commencement Date. A TEN PERCENT (10%) late charge shall be added to all rent
payments more than ten (10) days past due.

 

SECTION 2. In the
event that any check which has been remitted to Landlord by Tenant for payment
of the Rent, or any other sum payable under this Lease, shall not be honored
upon its presentation for payment, then an additional charge of $100.00 shall
be imposed on each check not honored.

 

3

 

ARTICLE IV.
USE

 

The Premises are to be used only for the
purpose of conducting therein the operation of a banking facility and related financial
services and operations and for no other business or purpose without the prior
written consent of Landlord. Tenant shall not do or permit to be done in or
about the Premises anything which is illegal or unlawful; or which is of a
hazardous or dangerous nature; or which will increase the rate(s) of insurance
upon the Building. Tenant shall (and shall cause its employees to) observe the
rules and regulations set forth in Exhibit A
attached hereto and made a part hereof, as the same may be amended by Landlord
from time to time, and Tenant shall comply with all governmental laws and
ordinances and all regulations applicable to the use and occupancy of the
Building.

 

ARTICLE V.
POSSESSION

 

If Landlord permits Tenant to enter into
possession of the Premises prior to the Lease Commencement Date, all of the
terms and conditions of this Lease shall apply during such prior period.
Tenant’s taking of possession of the Premises represents Tenant’s conclusion
that the Premises are in good and tenantable condition and acceptable for
Tenant’s use thereof as provided in this Lease.

 

ARTICLE VI.
SERVICES TO BE PROVIDED

 

Landlord shall furnish reasonable amounts of
heat, air conditioning, water and elevator service (collectively “Services”) to
the Premises during the times and in the manner that Landlord determines
appropriate for the furnishing of such services in the Building, all such
services being subject to energy availability or Energy Consumption Regulations
which may be hereafter promulgated. It is expressly agreed that should any
local, state or federal governmental body, agency or public utility restrict or
reduce the amount of fuel or energy which may be utilized to provide the
utilities and services as specified above, then such restriction or reduction,
and the reduction in utilities and services which may result therefrom, shall
in no way create or constitute a default on the part of the Landlord, and there
shall be no reduction or abatement in the Rent or any other sum payable by
Tenant thereunder. Further, Landlord shall not be liable for any injury,
damage, inconvenience, or otherwise which may arise or result should the
furnishing of any such services be interrupted or prevented by fire, accident,
strike, riot, act of God, the making of necessary repairs or improvements, or
any other cause beyond the reasonable control or prevention of Landlord, nor,
subject only to the provisions of Article IX of this Lease, shall the Rent
payable by Tenant hereunder abate.

 

ARTICLE
VII. MAINTENANCE, REPAIR, ALTERATIONS, CONSTRUCTION

 

SECTION 1. Landlord
shall keep and maintain the roof, foundations, floor slab, and all structural
walls (including windows and plate glass), gutters and downspouts of the
Premises in good order and repair. Landlord shall keep or cause to be kept in
good repair all common areas of the Building and appurtenant areas, including
lighting systems; drainage systems; mechanical, plumbing, and electrical
systems; heat and air conditioning units; ductwork, lines, pipes, and conduits
serving the Premises; and parking areas and driveways. Any maintenance, repairs
or replacements to any of the foregoing made necessary by any acts or omissions
of the Tenant, its agents or employees, shall be paid for by Tenant and Tenant
shall reimburse Landlord on demand for the cost of repairing any damage to the
Premises or the Building caused by Tenant or its agents or employees. In the
event, after reasonable notice to Landlord, Landlord fails to make any repairs
as hereinbefore provided, then Tenant shall have the right to make these
repairs and deduct the cost thereof from any future rental payments.

 

SECTION 2. All
maintenance, repairs, or replacements relating to the Premises that are not the
obligation of Landlord as set forth in Section 1 above, shall be the obligation
of Tenant and shall be made by Tenant at Tenant’s sole cost and expense. Tenant
shall maintain, at its expense, the interior of the Premises in good repair and
in a clean and attractive condition. Tenant’s obligation to maintain, repair
and replace includes, but is not limited to, all the interior of the Premises.
In the event Tenant fails to comply with the requirements of this Section,
Landlord may effect such maintenance and repair and the cost thereof, with
interest at the rate of 8.5% per annum, shall be payable immediately to
Landlord as additional rent. In the event the applicable Statute of the
Commonwealth of Kentucky at any time shall allow for a higher rate of interest
under an instrument in writing, then such higher rate shall apply and be payable.
If Tenant is a corporation, then the interest rate to be so payable hereunder
shall be at the rate of 12% per annum.

 

SECTION 3. Tenant
shall not make any alterations, additions or improvements to the Premises
without first obtaining Landlord’s prior written consent. In connection with
any such request for Landlord’s consent to such alterations, additions or
improvements to the Premises, Landlord may retain the services of an architect
and/or engineer; and the reasonable costs for the services of such architect
and/or engineer shall be reimbursed to Landlord by Tenant. Landlord may make
any repairs for the preservation, safety or improvement of the Premises or the
Building. All alterations and improvements made by Tenant

 

4

 

shall become the property of Landlord upon making thereof and shall be
surrendered to landlord upon the expiration of this Lease.

 

ARTICLE
VIII. ACCESS

 

Landlord and its agents shall have the right
to enter into and upon the Premises at all reasonable times with reasonable
notice for the purpose of inspecting, cleaning, repairing, altering or
improving the Premises or the Building with the exception of an emergency
situation. Landlord shall have the right to show the Premises to prospective
tenants during the ninety (90) day period prior to the expiration of the term
of this Lease and shall have the right at all reasonable times to show the
Premises to prospective purchasers of and lenders upon the Building. Any damage
or loss caused to the Premises and/or to the Tenant by any use of or access to
the Premises by Landlord shall be repaired by Landlord at Landlord’s expense.

 

ARTICLE IX.
DAMAGE OR DESTRUCTION

 

SECTION 1. If the
Premises are damaged or destroyed, in whole or in substantial part, and Section
2 does not apply, then Landlord may elect to terminate this Lease as of the
date of the damage or destruction by notice given to Tenant in writing not more
than twenty (20) days following the date of damage or destruction. If Landlord
does not elect to terminate, Landlord shall, at Landlord’s expense, proceed to
restore the property to substantially the same form, condition and quality as
prior to the damage or destruction. If Landlord elects to rebuild and repair,
Landlord shall proceed as soon as reasonably possible and thereafter shall
proceed without interruption and be completed within one hundred-eighty (180)
days after notice has been given of Landlord’s intent to rebuild and repair,
except for work stoppages on account of labor disputes and matters not under
the control of the Landlord. During such period of repair or restoration, the
Rent shall be abated in the same proportion as the untenantable portion of the
Premises bears to the entire Premises identified in Section 1 of Article I of
the Lease.

 

SECTION 2. If the
Premises are damaged or destroyed, (i) to the extent that more than fifty
percent (50%) of the Building is damaged or destroyed, or (ii) to the extent
that more than fifty percent (50%) of the Premises are damaged or destroyed,
then in such event, Tenant may elect to terminate this Lease as of the date of
the damage or destruction by notice given to Landlord in writing not more than
twenty (20) days following the date of damage or destruction.

 

SECTION 3. Notwithstanding
anything contained in this Article to the contrary, Landlord shall not be
required to repair, replace, restore, or rebuild any property which Tenant
shall be entitled to remove from the Premises under the provisions of this
Lease; it being agreed that Tenant shall bear the entire risk of loss, damage
or destruction of such property while it is in the Building.

 

SECTION 4. If either
party elects to terminate the Lease, Tenant shall be entitled to reimbursement
for any prepaid rent or other amounts paid by Tenant and attributable to the
unused term of the Lease.

 

ARTICLE X.
INDEMNITY

 

Tenant shall indemnify and hold Landlord
harmless from all loss, damage, liability or expense resulting from an injury
to or death of any person or any loss of or damage to any property caused by or
resulting from any act or omission of Tenant or any officer, agent, employee,
guest, invitee or visitor of Tenant in or about the Premises or the Building,
but the foregoing provision shall not be construed to make Tenant responsible
for injuries to third parties caused by the negligence of Landlord or any agent
or employee of Landlord. The Landlord shall remain responsible for any injury
to or death of any person or any loss of or damage to property sustained by any
person whatsoever which may be caused by the Building or any equipment or
appurtenances thereto or thereof being or becoming defective or out of repair.
Landlord shall be and remain liable for the negligent acts or omissions of
Landlord, its agents and employees.

 

ARTICLE XI.
REMEDIES

 

SECTION 1. If at any
time Tenant shall (a) fail to remedy any default in the payment of any sum due
under this Lease for ten (10) days after notice; (b) fail to remedy any default
with respect to any other of these provisions, covenants or conditions of this
Lease to be kept or performed by Tenant, within thirty (30) days after notice
(or, in the event the default is of such a nature that it cannot be remedied
within said thirty (30) day period, then such additional time as may be
necessary for Tenant to cure such default, within the thirty (30) day period
and thereafter diligently prosecutes the same to completion); or (c) vacate or
abandon the Premises, or fail to conduct its business therein, for a period of
five (5) consecutive business days, and then fail to reoccupy and reestablish
the conduct of business in the Premises within ten (10) days following the date
of written notice from Landlord of such failure; then Landlord shall have all
such rights and remedies as are provided by law in

 

5

 

respect of such default, including, at Landlord’s election, the right
to terminate this Lease, and all Tenant’s rights hereunder shall be terminated.

 

The liability of Tenant for the Rent, and
other payments provided for herein shall not be extinguished for the balance of
this Lease, and Tenant shall make good to Landlord any deficiency arising from
such reletting of the Premises, plus the costs and expenses of renovating,
altering and reletting the Premises, and including attorneys’ fees or brokers’
fees incident to Landlord’s reentry or reletting. Tenant shall pay any such
deficiency each month, as the amount thereof is ascertained by Landlord, or, at
Landlord’s option, Landlord may recover, in addition to any other sums, the
amount at the time of judgment by which the unpaid Rent, and other payments for
the balance of the term, after judgment, exceeds the amount thereof which
Tenant proves could be reasonably avoided, discounted at the rate of 7%. In
reletting the Premises, Landlord may grant rent concessions and Tenant shall
not be credited therefore. Nothing herein shall be deemed to affect the right
of Landlord to recover for indemnification under Article X herein arising prior
to the termination of this Lease.

 

SECTION 2. Landlord
shall in no event be in default in the performance of any of its obligations in
this Lease contained unless and until Landlord shall have failed to perform
such obligation within thirty (30) days, or such additional time as is reasonably
required to correct any such default after notice by Tenant to Landlord
properly specifying wherein Landlord has failed of perform any such obligation.

 

ARTICLE
XII. INSURANCE

 

SECTION 1. Tenant
covenants and agrees that from and after the date of delivery of the Premises
from Landlord to Tenant and at all times during possession thereof, Tenant will
procure and maintain in full force and effect, at its sole cost and expense,
the following types of insurance, in the minimum amounts specified below:

 

A.                                   Public
Liability and Property Damage. Personal injury liability, bodily injury
liability and property damage insurance in a single limit of not less than One
Million Dollars ($1,000,000), of which insurance shall insure the performance
by Tenant of the indemnity agreement as to liability for injury to or death of
persons and injury or damage to property as provided in Article X hereof. All
of such insurance shall be primary and noncontributing with any insurance which
may be carried by Landlord. The adequacy of the coverage afforded by said
liability and property damage insurance shall be subject to review by Landlord
from time to time, and Landlord retains the right to increase or decrease said
limits at such times.

 

B.                                     Tenant
Improvements. Insurance covering all of the lease-hold improvements,
(excepting only the structural components of the Building and demising
partitions), and Tenant’s trade fixtures, and personal property from time to
time in and/or upon the Premises, in an amount of not less than the full
replacement cost thereof without deduction for depreciation, providing
protection against any peril included within the classification “Fire and
Extended Coverage”, together with insurance against sprinkler damage, vandalism
and malicious mischief. Any policy proceeds shall be used for the repair or
replacement of the property damaged or destroyed unless this Lease shall cease
and terminate under the applicable provisions herein. If the Premises shall not
be repaired or restored following damage or destruction in accordance with
other provisions herein, Landlord shall receive from such insurance proceeds an
amount equal to the replacement cost of the Tenant’s leasehold improvements.

 

C.                                     Business
Interruption. Business interruption insurance with sufficient coverage to
provide for payment of rent and other fixed costs during any interruption of
Tenant’s business by reason of fire or other similar cause.

 

SECTION 2. All
policies shall be for the mutual and joint benefit and protection of Landlord
and Tenant, with Landlord being named as an additional insured. Certificates of
such policies shall be delivered to Landlord within ten (10) days after
delivery of possession of the Premises to Tenant and thereafter within thirty
(30) days prior to the expiration of the term of each such policy. All public
liability and property damage policies shall contain a provision that Landlord,
although named as an insured, shall nevertheless be entitled to recovery under
said policies for any loss occasioned to it, its servants, agents, and
employees by reason of the acts, omissions and/or negligence of Tenant. As
often as any such policy shall expire or terminate, renewal or additional
policies shall be procured and maintained by Tenant in like manner and to like
extent. All policies of insurance must contain a provision that the company
writing said policy will give to Landlord thirty (30) days’ notice, in writing,
in advance of any cancellation or lapse, or the effective date of any reduction
in the amounts of insurance. All public liability, property damage and other
casualty policies shall be written as primary policies, not contributing with
and

 

6

 

not in excess of coverage which Landlord may carry. Landlord may, from time
to time, request Tenant to provide Landlord with a certified copy of all
insurance coverage carried by Tenant.

 

SECTION 3. Tenant
agrees to pay to Landlord forthwith upon demand the amount of any increase in
premiums for insurance against loss by fire that may be charged during the term
of this Lease on the amount of insurance maintained in force by Landlord on the
Building, of which the Premises are a part, resulting from Tenant doing any act
in or about said Premises which does so increase the insurance rates, whether
or not Landlord shall have consented to such act on the part of Tenant. If
Tenant installs upon the Premises any electrical equipment which constitutes an
overload on the electrical lines of the Premises, Tenant shall at its own
expense make whatever changes are necessary to comply with the requirements of
the insurance underwriters any governmental authority having jurisdiction there
over, but nothing herein contained shall be deemed to constitute Landlord’s
consent to such overloading.

 

ARTICLE
XIII. LIENS

 

Tenant shall keep the Premises free and clear
of, and shall indemnify Landlord against, all mechanics’ liens and other liens
on account of work done for or materials, supplies and equipment furnished to
Tenant by persons claiming under it for maintenance, repairs and alterations.
Tenant shall reimburse Landlord for all costs and attorneys’ fees incurred by
Landlord in investigating, defending or clearing such lien to be cleared within
thirty (30) days of filing of same unless Tenant shall have provided security
acceptable to Landlord against any loss to Landlord on account thereof. As a
condition to Landlord’s consent pursuant to Article VII, Landlord may require
Tenant to provide Landlord with reasonable payment and performance bonds of
those persons contracted by Tenant to perform work on or in the Premises that
could be the subject of such a lien in order to protect the Premises, the
Landlord, and any mortgagee from and against liens of mechanics and materialmen
performing work in or providing services and equipment to the Premises.

 

ARTICLE
XIV. ASSIGNMENT; SUBLETTING; MORTGAGING

 

SECTION 1. Tenant
shall not voluntarily, involuntarily or by operation of law assign, transfer,
mortgage or otherwise encumber all or any part of Tenant’s interest in this
Lease, or sublet the Premises or any part thereof, without first obtaining in
each and every instance Landlord’s prior written consent. Subject to the
foregoing, Tenant shall not assign, transfer or sublet the Premises, or any
part thereof, at a rent to Assignee, Transferee or Sublessee, greater than
$20.00 per square foot. Any transfer of this Lease by merger, consolidation, or
liquidation, or any change in the ownership of, or power to vote the majority
of its outstanding voting stock resulting in a change in ownership of more than
50% of the total issued and outstanding shares of Tenant shall constitute an
assignment for the purposes of the paragraph. If consent is once given by
Landlord to any such assignment or subletting, such consent shall not operate
as a waiver of the necessity for obtaining Landlord’s consent to any subsequent
assignment or subletting. Any legal costs incurred by Landlord related to such
assignment or subletting shall be paid by Tenant to Landlord upon demand. Tenant
shall provide Landlord with executed copies of any Assignment, Transfer or
Sublease Agreement entered into as provided herein.

 

ARTICLE XV.
ESTOPPEL CERTIFICATE

 

Tenant shall at any time and from time to
time execute, acknowledge and deliver to Landlord a statement in writing
certifying: (a) that this Lease is unmodified and in full force and effect (or
if there has been any modification hereof that the same is in full force and
effect as modified and stating the nature of the modification or modifications);
(b) that to the best of its knowledge Landlord is not in default under this
Lease (or if any such default exists the specific nature and extent thereof);
and (c) the date to which rent and other charges have been paid in advance, if
any.

 

ARTICLE
XVI. TAXES

 

SECTION 1. Tenant
shall pay before delinquency any and all taxes and assessments, and license,
sales, business, occupation or other taxes, fees or charges levied, assessed or
imposed upon its business operations in the Premises.

 

SECTION 2. Tenant shall
pay before delinquency any and all taxes and assessments levied, assessed or
imposed upon its trade fixtures, leasehold improvements, merchandise and other
personal property in, on, or upon the Premises.

 

SECTION 3. In the
event any taxes, fees or charges referred to in the preceding Section 1 and/or
Section 2 shall be assessed, levied or imposed upon or in connection with the
business or property of Landlord, such assessment, taxes, fees or charges shall
be paid by Tenant to Landlord promptly upon Landlord’s request for such
payment.

 

7

 

SECTION 4. Landlord
shall pay before delinquency any and all costs and expenses of every kind and
nature for real estate ad valorem taxes, and/or fees, assessments, charges or
payments in lieu thereof, to the Commonwealth of Kentucky, and/or any political
subdivision thereof, including, without limitation, Jefferson County, and/or
any city, municipality, agency or special district, the Jefferson County School
Board, Louisville Water Company, and/or the Louisville and Jefferson County
Metropolitan Sewer District, whether general or special assessments, including,
but not limited to, sewer rents, rates and charges; drainage fees; water
charges; taxes based upon the receipt of rent; and any other federal, state or
local government charge, general, special, ordinary or extra—ordinary (but not
including income or franchise taxes or any other taxes imposed upon or measured
by Landlord’s net income or profits, unless the same is imposed in lieu of real
estate taxes), which may now or hereafter be levied or assessed against the
Building or the land on which the Building and appurtenant parking areas and
driveways are located. If at any time during the term of this Lease the method
of taxation then prevailing shall be altered so that any new tax, assessment,
levy, imposition or charge shall be imposed upon Landlord in place or partly in
place of any such taxes and shall be measured by or be based in whole or in
part upon the Building or the rents or other income therefrom, then all such
new taxes, assessments, levies, imposition or charge shall be imposed upon
Landlord in place or partly in place of any such taxes and shall be measured by
or be based in whole or in part upon the Building or the rents or other income
therefrom, then all such new taxes, assessments, levies, impositions or charges
or part thereof, to the extent that they are measured or based, shall be
included in the definition of Landlord’s costs and expenses within the meaning
of this subparagraph. Tenant shall only be directly responsible for taxes, if
any, on its personal property and on the value of its special leasehold
improvements exclusive of standard building improvements.

 

ARTICLE
XVII. PRIORITY OF LEASE

 

This Lease shall, unless Landlord otherwise
elects, be subordinate to any and all mortgages and other security instruments
now existing, or which may hereafter be made covering the Building and/or the
real property underlying the same or any portion or portions thereof, and for
the full amount of all advances made or to be made thereunder (without regard
to the time or character of such advances), together with interest thereon, and
subject of all the terms and provisions thereof and to any renewals,
extensions, modifications and consolidations thereof; and Tenant covenants
within ten days of demand to make, execute, acknowledge and deliver upon
request any and all documents or instruments demanded by Landlord which are or
may be necessary or proper for more fully and certainly assuring the
subordination of this Lease to any such mortgages or other security
instruments, provided, however, that any person or persons purchasing or
otherwise acquiring any interest at any sale and/or other proceedings under
such mortgages or other security instruments may elect to continue this Lease
in full force and effect in the same manner, and with like effect, as if such
person or persons had been named as Landlord herein, and in the event of such
election, this Lease shall continue in full force and effect as aforesaid, and
Tenant hereby shall continue in full force and effect as aforesaid, and Tenant
hereby attorns and agrees to attorn to such person or persons. Tenant hereby
irrevocably appoints Landlord the attorney-in-fact of Tenant, to execute and
deliver any document provided for herein, for and in the name of Tenant.

 

ARTICLE
XVIII. FIXTURES AND PERSONAL PROPERTY; SURRENDER

 

SECTION 1. Upon the
termination of this Lease, Tenant shall surrender to Landlord the Premises
(including, without limitation, all non-moveable leasehold improvements) in
good condition and repair reasonable wear, tear and damage by casualty not
caused by Tenant or its agents or employees excepted. All improvements,
additions, and fixtures made or installed from time-to-time by Landlord to, in,
upon, or about the Premises, including, but not limited to, all lighting
fixtures, shall be the property of Landlord and upon any such termination,
shall be surrendered to Landlord by Tenant without any injury, damage or
disturbance thereto or payment thereof.

 

SECTION 2. All
fixtures, furniture, movable partitions, machinery, equipment and other
personal property installed or placed in said Premises at the cost of or by
Tenant shall at all times remain, be considered and treated as the personal
property of Tenant and in no sense part of the real estate, and Tenant shall
have the right at any time during the term of this Lease and any extension
thereof, or within a period of ten (10) days after any termination hereof to
remove the same or any part thereof from said Premises, provided, however, that
upon the removal of any such personal property, Tenant agrees to restore the
area from which the same has been removed to substantially the same condition
as it was prior to the installation thereof and to the extent necessary to keep
Premises in a leasable and usable condition for future tenants. If Tenant fails
to remove any such personal property, Landlord may at Landlord’s option retain
all or any of such property and title thereto shall thereupon vest in Landlord,
Landlord may remove from the Premises and dispose of in any manner all or any
of such property, in which latter event Tenant shall, upon demand, pay to
Landlord the actual expense of such removal and disposition, and the cost of
repair of any and all damage to the Premises resulting from or caused by such
removal.

 

8

 

ARTICLE
XIX. HOLD OVER TENANCY

 

If Tenant shall, without execution of a new
Lease or written extension, and with consent of Landlord, hold over after the
expiration of the terms of this Lease, such tenancy shall be a month-to-month
tenancy, which may be terminated as provided by law. During such tenancy,
Tenant shall pay to Landlord the greater of (a) the rental rate then being
quoted by Landlord for comparable space in the Building; or (b) the Rent
pursuant to Article III. During such tenancy, Tenant shall be bound by all of
the terms, covenants, and conditions as herein specified, as far as applicable;
provided, however that if Tenant fails to surrender the Premises upon the
termination of this Lease, in addition to any other liabilities to Landlord
arising therefrom Tenant shall indemnify and hold Landlord harmless from loss
or liability resulting from such failure, including any claims made by any
succeeding Tenant founded on such failure.

 

ARTICLE XX.
WAIVER OF SUBROGATION

 

Landlord and Tenant each releases and
relieves the other and on behalf of its insurer(s) waives its entire right of
recovery against the other for loss or damage arising out of or incident to the
perils of fire, explosion, or any other perils generally described in the
“extended coverage” insurance endorsements used in Louisville which occur in,
on or about the Building and/or the Premises, whether due to the negligence of
such other party, its agents or employees, or otherwise.

 

ARTICLE
XXI. NOTICES

 

Wherever in this Lease it shall be required
or permitted that notice, approval, advice, consent or demand be given or
served by either party to this Lease to or on the other, such notice or demand
shall be given or served and shall not be deemed to have been duly given or
served unless in writing and forwarded by certified or registered mail,
addressed as follows:

 

	
  To Landlord:

  	
  Jaytee Properties

  
	
   

  	
  Republic Corporate Center

  
	
   

  	
  Louisville, Kentucky 40202-2700

  
	
   

  	
  Attention: Mr. Steve Trager

  
	
   

  	
   

  
	
  To Tenant:

  	
  At the Premises

  

 

Either party may change such address by
written notice by certified or registered mail to the other.

 

ARTICLE
XXII. RIGHTS RESERVED BY LANDLORD

 

SECTION 1. Landlord
shall have the sole and exclusive right to designate (and from time to time, in
its discretion, re-designate) the name, address, number and/or designation of
the Building.

 

SECTION 2. Tenant agrees and understands that
the Landlord reserves the right to designate the parking area for Tenant and
its employees, in Landlord’s sole discretion, that is determined by Landlord to
be in the best interest of all tenants in the Premises. After notice to Tenant
of any violation of parking requirements, the vehicle(s) found in violation
shall be towed away at the expense of and the responsibility of the Tenant.

 

ARTICLE
XXIII. CONDEMNATION

 

In the event that during the term of this
Lease the Premises as identified in Article I, Section 1 hereof, or any part
thereof, or the use or possession thereof, is taken in condemnation proceedings
or by any right of eminent domain or for any public or quasi-public use, this
Lease and the term hereby granted shall terminate and expire on the date when
possession shall be taken by the condemnor, and rent and all other charges
payable hereunder shall be apportioned and paid in full up to that date and all
prepaid unearned rent and all other charges payable and paid in full up to that
date and all prepaid unearned rent and all other charges payable hereunder
shall forthwith be repaid by Landlord to Tenant, and Tenant shall not be liable
to Landlord for rent or any other charges payable hereunder, damage, or
otherwise, for, or by reason of any matter or thing occurring thereafter.
Tenant hereby waives any and all rights in, or to any condemnation awards. In
the event that during the term of this Lease a material amount of the parking
area or a material amount of the use or possession thereof is taken in
condemnation proceedings or by any right of eminent domain or for any public or
quasi-public use and no alternative parking is provided, the term of this Lease
shall at the option of Tenant cease and terminate from the date of title
vesting in such proceeding.

 

9

 

ARTICLE
XXIV. MISCELLANEOUS PROVISIONS

 

SECTION 1. The term
“Landlord” as used in this Lease, so far as covenants or obligations on the
part of Landlord are concerned, shall be limited to mean and include only the
owner or co-owners, at the time in question, of the Premises, and in the event
of any transfer or transfers of the title to the Premises, Landlord herein
named (and in case of any subsequent transfers or conveyances, the then
grantor) shall be automatically freed and relieved from and after the date of
such transfer or conveyance of all liability as respects the performance or any
covenants or obligations on the part of Landlord contained in this Lease
thereafter to be performed.

 

SECTION 2. The
captions of Articles of this Lease are for convenience only and shall not be
considered or referred to in resolving questions of interpretation or
construction.

 

SECTION 3. The terms
“Landlord and Tenant”, wherever used herein shall be applicable to one or more
persons, as the case may be, and the singular shall include the plural, and the
neuter shall include the masculine and feminine, and if there be more than one,
the obligations hereof shall be joint and several.

 

SECTION 4. The word
“person” and the word “persons” wherever used in this Lease shall both include
individuals, partnerships, firms, associations, and corporations of any other
form of business entity.

 

SECTION 5. The
various rights, options, elections, powers, and remedies contained in this
Lease shall be construed as cumulative and no one of them shall be exclusive of
any of the others, or of any other legal or equitable remedy which either party
might otherwise have in the event of breach or default in the terms thereof,
and the exercise of one right or remedy by such party shall not impair its
right to any other right or remedy until all obligations upon the other party
have been fully performed.

 

SECTION 6. Time is
of essence with respect to the performance of each of the covenants and
agreements under this Lease.

 

SECTION 7. Each and
all of the provisions of this Lease shall be binding upon and inure to the
benefit of the parties hereto and, except as set forth in Section 1 of this
Article and as otherwise specifically provided elsewhere in this Lease, their
respective heirs, executors, administrators, successors, and assigns, subject
at all times, nevertheless, to all agreements and restrictions contained
elsewhere in this Lease with respect to the assignment, transfer, encumbering or
sub-letting of all or any part of Tenant’s interest in this Lease.

 

SECTION 8. This
Lease shall be interpreted in accordance with the law of the Commonwealth of
Kentucky.

 

SECTION 9. No waiver
of any default by Tenant hereunder shall be implied from any omission by
Landlord to take any action on account of such default if such default persists
or is repeated, and no express waiver shall affect any default other than the
default specified in the express waiver, and that only for the time and to the
extent therein stated. The acceptance by Landlord of rent with knowledge of the
breach of any of the covenants of this Lease by Tenant shall not be deemed a
waiver of any such breach. One or more waivers of any breach of any covenant,
term or condition of this Lease shall not be construed as a waiver of any
subsequent breach of the same covenants, term of condition. The consent or
approval by Landlord to or of any act by Tenant requiring Landlord’s consent or
approval shall not be deemed to waive or render unnecessary Landlord’s consent
or approval to or of any subsequent similar acts by Tenant.

 

SECTION 10. If
Tenant shall default in the performance of any covenant on its part to be
performed by virtue of any provisions of this Lease, Landlord may, after any
notice and the expiration of any period with respect thereto as required
pursuant to the applicable provisions of this Lease, perform the same for the
account of Tenant. If Landlord, at any time, is compelled to pay or elects to
pay any sum of money or do any acts which would require the payment of any sum
of money by reason of the failure of Tenant, after any notice and the
expiration of any period with respect thereto, as required pursuant to the
applicable provisions of the Lease, to comply with any provisions of this
Lease, the sum or sums so paid by Landlord with all interest, costs and
damages, shall be deemed to be additional rental hereunder and shall be due
from Tenant to Landlord on the first day of the month following the incurring
of such respective expenses, except as otherwise herein specifically provided.

 

SECTION 11. If
Tenant or Landlord shall bring any action for any relief against the other,
declaratory or otherwise, arising out of this Lease, including any suit by
Landlord for the recovery of rent, additional rent or other payments hereunder

 

10

 

or possession of the Premises, the losing party shall pay the
prevailing party a reasonable sum for attorneys’ fees in such suit, at trial
and on appeal, and such attorneys’ fees shall be deemed to have accrued on the
commencement of such action.

 

SECTION 12. This
Lease contains all covenants and agreements between Landlord and Tenant
relating in any manner to the rental, use and occupancy of the Premises and
Tenant’s licensed use of the Building and other matters set forth in this
Lease. No prior agreement or understanding pertaining to the same shall be
valid or of any force or effect, and the covenants and agreements of this Lease
cannot be altered, changed, modified or added to except in writing signed by
Landlord and Tenant. No representation, inducement, understanding or anything
of any nature whatsoever made, stated or represented on Landlord’s behalf,
either orally or in writing (except this Lease) has induced Tenant to enter
into this Lease.

 

SECTION 13. Any
provision or provisions of this Lease which shall prove to be invalid, void or
illegal shall in no way affect, impair or invalidate any other provision
hereof, and the remaining provisions hereof shall nevertheless remain in full
force and effect.

 

SECTION 14. Except
with respect to those conditions, covenants and agreements of this Lease which
by their nature could only be applicable after the commencement of, during or
throughout the term of this Lease, all of the other conditions, covenants and
agreements of this Lease shall be deemed to be effective as of the date of
execution of this Lease.

 

SECTION 15. Landlord
and Tenant each represents that neither is responsible for any real estate
brokerage fee, and shall indemnify each other against loss, cost, liability, or
expense incurred by either as a result of any claim asserted by any such
broker, finder or other person on the basis on any arrangements or agreements
made or alleged to have been made by or on behalf of either Landlord or Tenant,
as the case may be.

 

IN WITNESS WHEREOF, the parties have caused this Lease to be duly
executed and delivered as of the day and year first above written.

 

	
  ATTEST:

  	
  JAYTEE
  PROPERTIES

  
	
   

  	
   

  
	
   

  	
   

  
	
  BY:

  	
  /s/ Pamela Anderson

  	
   

  	
  BY:

  	
  /s/ Steve Trager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  ATTEST:

  	
  REPUBLIC
  BANK & TRUST COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
  BY:

  	
  /s/ Lara Recktenwald

  	
   

  	
  BY:

  	
  /s/ Kevin Sipes

  	
   

  

 

11

 

EXHIBIT A

RULES AND REGULATIONS

 

1.                                       No
advertisement, sign, lettering, notice or device shall be placed in or upon the
Premises or the Building, including any windows, walls and exterior doors,
except such as may be approved in writing by Landlord.

 

2.                                       Lettering
upon the doors as required by Tenant shall be made by the sign company
designated by Landlord, but the cost shall be paid by Tenant. The directories
of the Building will be provided exclusively for the display of the name and
location of Tenant and its designated representative only, and Landlord
reserves the right to exclude any other names therefrom.

 

3.                                       No
additional locks shall be placed upon any doors of the Premises, and Tenant
agrees not to have any duplicate keys made without the consent of Landlord. If
more than two keys for any door lock are desired, such additional keys shall be
paid for by Tenant. Upon termination of this Lease, Tenant shall surrender all
keys.

 

4.                                       No
furniture, freight, supplies not carried by hand or equipment of any kind shall
be brought into or removed from the Building without the consent of Landlord.
Landlord shall have the right to limit the weight and size and to designate the
position of all safes and other heavy property brought into the Building. Such
furniture, freight, equipment, safes and other heavy property shall be moved in
or out of the Building only at the times and in the manner permitted by
Landlord. Landlord will not be responsible for loss of or damage to any of the
items above referred to, and all damage done to the Premises or the Building by
moving or maintaining any of such items shall be repaired at the expense of
Tenant. Any merchandise not capable of being carried by hand shall utilize hand
trucks equipped with rubber tires and rubber side guards.

 

5.                                       The
entrances, corridors, stairways and elevators shall not be obstructed by
Tenant, or used for any other purpose than ingress or egress to and from
Premises. Tenant shall not bring into or keep any animal within the Building,
or any bicycle or other type of vehicle.

 

6.                                       Tenant
shall not disturb other occupants of the Building by making an undue or
unseemly noise, or otherwise. Tenant shall not, without Landlord’s prior
written consent, install or operate in or on Premises any machine or machinery
causing noise or vibration perceptible outside the Premises, electric heater, stove
or machinery or any kind or carry on any mechanical business thereon, or keep
or use thereon oils, burning fluids, camphene, kerosene, naphtha, gasoline, or
other coustible materials. No explosives shall be brought into the Building.

 

7.                                       Tenant
shall not mark, drive nails, screw or drill into woodwork or plaster, paint or
in any way deface the Building or any part thereof, or the Premises or any part
thereof, or fixtures therein. The expense of remedying any breakage, damage or
stoppage resulting from a violation of this rule shall be borne by Tenant.

 

8.                                       If
Tenant installs upon the Premises any electrical equipment which constitutes an
overload on the electrical line serving the Premises or the Building, Tenant
shall make all necessary changes to reduce such overload, or at the option of
Landlord, eliminate such equipment as Landlord deems necessary to reduce the
electrical capacity required to serve the Premises.

 

9.                                       Canvassing,
soliciting, and peddling in the Building is prohibited and Tenant shall cooperate
to prevent such activity.

 

10.                                 The
requirements of Tenant will be attended to only upon application at the
Landlord’s office in the Building. Building employees shall not perform any
work or do anything outside of the regular duties, except on issuance of
special instructions from the office of the Building. If the Building employees
are made available for the assistance of Tenant, Landlord shall be paid for
their services by Tenant at reasonable hourly rates. No Building employee will
admit any person (Tenant or otherwise) to any office without specific
instructions from the office of the Building.

 

11.                                 Landlord
reserves the right to close and keep locked all entrance and exit doors of the
Building on Sundays, legal holidays, and between the hours of 9:00 p.m. of any
day and 7:00 a.m. of the following day, and during such further hours as
Landlord may deem advisable for the adequate protection of the Building and the
property of the tenants. Tenant shall have 24-hour access to the Premises.

 

12EXHIBIT  10.34

 

Steven E. Trager Officer Compensation Continuation Agreement

 

MODIFICATION
TO

REPUBLIC BANCORP, INC.

REPUBLIC BANK & TRUST COMPANY

 

OFFICER
COMPENSATION CONTINUATION AGREEMENT

 

FOR IRC
SECTION 409A

 

THIS MODIFICATION to the Officer Compensation Continuation Agreement dated as of the 12th
day of January, 1995 (“Agreement”) by and between REPUBLIC
BANCORP, INC. (“Company”), REPUBLIC BANK & TRUST
COMPANY (“Bank”) and STEVEN E. TRAGER (“Executive”)
revises the Agreement so as to conform to section 409A of the Internal Revenue
Code of 1986, as amended. The parties agree to modify the Agreement as follows:

 

Effective
January 1, 2005, the introductory paragraph (and only the introductory
paragraph) of Section 3.4 of the Agreement is hereby deleted and the following
inserted in lieu thereof:

 

3.4           Compensation
Upon Termination. If during a Contract Period the Executive’s employment
shall be terminated by the Bank other than pursuant to death or for Cause, or
if the Executive shall terminate his employment for Good Reason, then the
Company shall continue to pay, or the Company shall cause the Bank to continue
to pay, for the remainder of the Contract Period, the Executive’s Compensation
in the same manner as if employment had not terminated; provided,  however,
that if the Executive is a “key employee” within the meaning of Section 416(i)
(but without regard to Section 416(i)(5)) of the Internal Revenue Code of 1986,
as amended, at any time during the calendar year in which occurs the
Executive’s separation from service from the Bank (and the Company), and stock
of the Company is publicly traded on an established securities market or
otherwise as of the date of the Executive’s separation from service from the
Bank (and the Company), such payments to the Executive shall not commence
earlier than six months following the date of the Executive’s separation from
service from the Bank (and the Company). In the event of such delay, the
initial payment to the Executive shall include amounts that previously would have
been paid to the Executive under this Section 3.4, but for the delay on account
of the Executive’s status as a “key employee.”

 

Except
as specifically modified above, the Agreement shall remain unchanged and, as
modified herein, shall continue in full force and effect. This Modification
shall inure to the benefit of and be enforceable by the Executive’s personal or
legal representatives, executors, administrators, successors, heirs,
distributes, devisees and legatees. The validity, interpretation, construction
and performance of this Modification shall be governed by the laws of the
Commonwealth of Kentucky.

 

1

 

IN
WITNESS WHEREOF, the
Company and the Bank, by their duly authorized officers, and the Executive have
caused this Modification to the Agreement to be executed this 15th
day of February, 2006, but to be effective as of January 1, 2005.

 

	
   

  	
  REPUBLIC
  BANCORP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Michael A. Ringswald

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  SVP and Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  REPUBLIC BANK & TRUST
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Michael A. Ringswald

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  SVP and Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Steven E. Trager

  	
   

  
	
   

  	
   

  	
  STEVEN E. TRAGER

  
								

 

2

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