Document:

exv10w2

 

Exhibit 10.2

DEED OF GROUND LEASE

     
THIS DEED OF GROUND
LEASE (the “Lease”) is made
this 5th day of June, 2001 (the “Effective
Date”), by and between the City of Manassas Park, Virginia,
a Virginia municipal corporation, party of the first part
(hereinafter referred to as the “Landlord” or the
“City”); and Alliance Bank, a Virginia banking
corporation, party of the second part (hereinafter referred to
as the “Tenant” or the “Bank”).

RECITALS:

     
WHEREAS, the
Landlord is the owner of a certain undeveloped piece or parcel
of land located directly adjacent to Manassas Park City Hall on
Manassas Drive consisting of approximately 19,121 square feet of
land, as the same is more fully depicted and outlined in red by
that certain plat attached hereto and incorporated herein as
Exhibit “A” (hereinafter referred
to as the “Land”); and

     
WHEREAS, the Tenant
intends to lease the Land from the Landlord and to construct a
temporary building on the Land, as the same is more generally
depicted by concept plan attached hereto and incorporated herein
as Exhibit “B” (hereinafter
referred to as the “Temporary Facilities”) for the
purpose of conducting its interim banking operations from said
site pending the construction of the Permanent Building, as the
term is hereinafter defined; and

     
WHEREAS, the
Landlord currently owns or is about to acquire title to that
certain other piece or parcel of land directly on Manassas Drive
and across Manassas Drive from the 

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Manassas Park City Hall, as the same is more
fully depicted and outlined in red by that certain plat attached
hereto and incorporated herein by reference as
Exhibit “C” (hereinafter referred
to as the “Target Property”); and

     
WHEREAS, the
Landlord intends to acquire additional lands adjacent to or
around the Target Property for the purpose of developing a
proposed Park Center, which development is anticipated to be
finalized by the Landlord within the next thirty-six (36) months
(hereinafter the “Park Center”); and

     
WHEREAS, at such
time as the Park Center concept is finalized by the Landlord,
the Target Property, or a portion thereof, is available for
development and Tenant constructs, or shall cause to have
constructed, a permanent commercial building on the Target
Property, or a portion thereof, which is suitable for the
Tenant’s intended use as a community bank and which
substantially conforms with the City’s required design
elements (including, for example, a building size of greater
than one story, square footage of at least 3,000 square
feet per floor, approved materials, complementary architecture,
approved fenestration) as set forth in the Park Center concept
(hereinafter the “Permanent Building”), the Tenant
intends to, and agrees to utilize its best efforts to, move its
temporary banking operations into the Permanent Building; and

     
WHEREAS, the Tenant
and the Landlord, as a condition of this Lease have agreed to
develop a banking relationship with one another and to that end,
the Landlord has agreed to cause an appropriate resolution to be
adopted by the Manassas Park Governing Body naming Alliance Bank
as the City’s preferred banking partner.

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AGREEMENT:

     
NOW, THEREFORE, for
and in consideration of the foregoing and the rent specified
below, the Landlord agrees to lease to the Tenant and the Tenant
agrees to rent from the Landlord, the Land on the following
terms and conditions.

     
1. Land.
Landlord grants and leases to Tenant and Tenant takes and leases
from Landlord the Land described in the attached
Exhibit “A”, together with all
rights and appurtenances thereto belonging or appertaining
thereto. Landlord further grants to Tenant, and its employees,
suppliers, contractors, authorized representatives and invitees,
the non-exclusive right to use any means of ingress and egress
to property adjoining the Land, insofar as Landlord has the
right to grant such use and that such use by the Tenant does not
materially interfere with Landlord’s intended use of the
same. Tenant may erect one or more temporary buildings on the
Land in general conformity with the plans set forth on
Exhibit “B”.

     
2. Construction.
Tenant agrees, at its expense, to promptly make application for
all permits necessary for the construction on the Temporary
Facilities, buildings and other improvements (collectively the
“Improvements”) described on
Exhibit “B”. Such construction
shall be at Tenant’s sole cost and expense and shall be
performed by Tenant in a good and workmanlike manner, free and
clear of mechanics’ and materialmen’s liens. In the
event Tenant is unable to obtain all permits and approvals
required for such construction and for operation of its business
on the Land within the time period provided for in
Article 22 of this Lease, Tenant shall have the option to
terminate this Lease. Landlord agrees to cooperate with Tenant
in meeting the requirements to obtain such permits and
approvals. All such permanent Improvements by the Tenant
(excluding the double-wide trailer, the content therein and all
other 

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leased or rented facilities, equipment and
fixtures), may at the Landlord’s option, become the
property of Landlord on the termination or expiration of this
Lease. Otherwise, the Tenant shall be responsible, at its sole
cost and expense, for restoring the Land to its original
condition.

     
Subject to the Tenant acquiring the necessary
permits from the City, the Landlord does hereby authorize the
Tenant to enter the Land at any time after the Effective Date,
for the purposes of performing investigations and surveys and,
at the Tenant’s discretion, to remove, demolish or
otherwise dispose of any existing improvements at Tenant’s
sole cost and expense, and to otherwise start the construction
of Tenants Temporary Facilities and Improvements as contemplated
by this Lease. In consideration of Tenant’s undertaking
such construction, any and all sums for salvage derived
therefrom shall be the property of Tenant. Tenant agrees to
indemnify Landlord, its elected officials, employees, agents,
assigns and volunteers from and against any liability in
connection with any activity conducted upon the Land pursuant to
this Article 2.

     
3. Term.
Unless sooner terminated or extended as herein provided, the
term of this Lease shall be for three (3) years (the
“Term”). The Term shall commence on August 1,
2001. Subject to the prior written approval by the City, which
approval shall not be unreasonably withheld, delayed or
conditioned, and also subject to the provisions of
Article 4, Landlord grants to Tenant three (3) successive
options to extend the Term upon the same terms, covenants and
conditions of this Lease, for any period of time up to but not
exceeding one (1) year for each option (the “Extended
Term”). If Tenant elects to exercise one of the renewal
options under this Section 3, Tenant shall notify Landlord
at least sixty (60) days prior to the expiration of the Term or
the Extended Term in effect at the time of the notice.
Notwithstanding anything to the 

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contrary in this Lease, Tenant’s obligation
to pay rent hereunder shall not start until August 1, 2001
or when Tenant’s Improvements are completed, whichever
event first occurs.

     
4. Early
Termination. In the event the
Permanent Building is fully completed and is otherwise available
for occupancy by the Tenant prior to the expiration of the Lease
Term or any applicable Extension Term, this Lease shall in that
event terminate upon expiration of thirty (30) days following
the issuance of a permanent certificate of occupancy by the City
allowing the Tenant to fully occupy the Permanent Building. This
Lease shall also terminate upon the expiration of sixty (60)
days following written notice from the Landlord in the event
that Tenant (i) fails to, or chooses not to, proceed with
the purchase of the Target Property, as provided in
Section 21 of this Lease, or (ii) within twelve (12)
months of the purchase of the Target Property, fails to commence
construction of the Permanent Building as set forth in
Section 21 of this Lease.

     
5. Rent.
During the course of the Lease Term or any Extended Term, the
Tenant shall pay rent to the landlord in the sum of Fifteen
Hundred and 00/100 Dollars ($1,500.00) per month (hereinafter
referred to as the “Rent”). The Rent shall be payable
in gross and the Tenant shall have no obligation to pay and the
Landlord shall have no right to request the payment of any other
additional rents or expenses for common area maintenance,
operating expenses or taxes to the Landlord. The Rent shall be
paid in advance on or before the seventh (7th) day of
each month unless abated or diminished as provided herein. Rent
may be paid by check and sent by ordinary first class mail to
Landlord at the address set forth in Article 29 below.

     
6. Use.
The Land shall be used and occupied by the Tenant only for
activities related to the operation of a community bank, bank
drive-in services, Automatic Teller Machine services and related
commercial and consumer banking services and operations.

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7. Automatic Teller
Machines. The Landlord shall
provide the Tenant permission to place up to three (3) Automatic
Teller Machines (hereinafter “ATMs”) on City-owned or
controlled properties, to specifically include the City-owned
parking lot servicing the Virginia Railway Express train
station, and at such other sites and locations, and upon such
terms, as may be agreed to by and between the Tenant and the
Landlord. The form of the lease for such ATM sites shall be
substantially in conformance with the form attached hereto as
Exhibit “D”.

     
8. Utilities.
Tenant agrees to pay all reasonable and necessary charges for
gas, electricity, telephone, sewer, water and any other
utilities used by Tenant on the Land. Landlord shall waive all
applicable water and sewer tap fees applicable to Tenants use of
the Land.

     
9. Signage.
Signage on the Land or on the Temporary Building shall be in
accordance with current applicable City Code and regulations.

     
10. Taxes.
Tenant agrees to pay all taxes levied upon its personal
property, including business personal property taxes, located on
the Land. Tenant shall not be responsible for any real property
taxes which may be due or payable on the Land.

     
11. Maintenance.
Tenant agrees to maintain any Improvements at any time located
on the Land in good repair, casualty damage and reasonable wear
and tear excepted.

     
12. Alterations.
Tenant may make such alterations or additions to the
Improvements at any time on the Land as Tenant may desire,
provided that such alterations or additions are in substantial
conformance with the approved plans for the original
Improvements. Such alterations or additions will be made in good
workmanlike manner without cost to Landlord, and shall be free
and clear of mechanics’ and materialmen’s liens
provided that if any such lien is filed, Tenant shall either
promptly bond or seek to discharge the same.

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13. Trade and Other
Fixtures. Subject to the
applicable provisions of the City Code and regulations and the
acquisition of any required permits, Tenant may install or cause
to be installed at its expense such equipment and trade or other
fixtures as are reasonably necessary for the operation of its
business (the “Fixtures”). Such Fixtures may include
heating, ventilating and air conditioning equipment (the
“HVAC”), a branch bank building, exterior lighting and
signs, all in substantial conformance with the approved plans
for the Improvements.

     
All Fixtures, whenever installed, shall remain
personal property, and title thereto shall continue in the owner
thereof, regardless of the manner in which they may be attached
or affixed to the Land. Nothing herein shall be construed to
transfer any right, title or security interest in any fixtures,
personal property or equipment to the landlord, which may be
used by the Tenant for the conduct of its business on the Lot.
Unless otherwise agreed to in writing with the Landlord, the
Tenant shall, at the expiration of the Term or the Extended Term
of this Lease, remove the Fixtures and shall repair any damage
caused to the Land by such removal.

     
In the event the Fixtures are subject to a lease,
lien or title retention instrument, the landlord named under
said chattel lease or the holder of any such lien or title
retention instrument, shall have the right and be able to
enforce the same as state therein and Landlord waives any rights
to the contrary.

     
14. Permits/Licenses.
Landlord agrees to cooperate with Tenant in the processing of
all reasonable and necessary permits, licenses and approvals for
the construction of the Improvements on the Land in accordance
with the terms and conditions of this Lease.

     
15. Liability
Insurance. Tenant agrees, at
Tenant’s expense, to maintain in force continuously
throughout the Term, and any Extended Term, commercial general
public liability insurance covering the Land (and any
Improvements constructed or placed thereon), and naming 

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the City as an additional insured thereunder,
with combined single limit coverage of Two Million and No/100
Dollars ($2,000,000.00) and shall, within ten (10) business days
of obtaining such insurance, furnish Landlord a certificate from
the insurer evidencing such coverage. Notwithstanding the above,
Tenant shall have the right to self-insure as to some or all of
the risks covered by this Article; however, any such
self-insurance shall be of a form and of an amount acceptable to
the City, which approval shall not be unreasonably withheld,
delayed or conditioned. The insurance required by this Article
shall extend, in addition, to any activities conducted by the
Tenant pursuant to Article 2.

     
16. Indemnity.
During the Term, and any Extended Tern, Tenant shall indemnify
and hold Landlord, its elected officials, employees, agents and
volunteers harmless from any claim, liability, loss, cost or
obligation owed to or asserted by any third party, arising from
any damage or injury caused by the use of the Land by Tenant,
its agents, employees or contractors, excepting in each case any
such damages, injuries, claims, liabilities, losses, costs or
obligations as shall result from conditions existing on the Land
prior to the commencement of the Term, acts or omissions of
Landlord, its agents, employees or contractors or the failure of
Landlord to perform its obligations under this Lease.

     
17. Assignment or
Sublease. Tenant may not assign
its rights and responsibilities under this Lease, or sublease
the whole or any part of the Land, without the prior written
consent of the Landlord, which consent may by withheld by
Landlord in its sole discretion. The prohibition against
assignment or sublease in the preceding sentence shall not apply
to any affiliate or subsidiary of Tenant, or to any change in
ownership of Tenant, provided that such change does not result
in a change in use as set forth in Section 6 of this Lease.
Any permitted 

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assignment or sublease shall be subject to all of
the terms, covenants and conditions of this Lease.

     
18. Eminent
Domain. If pursuant to the
exercise of the right of condemnation, eminent domain or other
public need (i) the Land is taken or conveyed, or
(ii) only a portion of the Land is so taken or conveyed and
Tenant determines that the remainder of the Land is inadequate
or unsatisfactory for its purposes, which determination shall
not be arbitrarily or capriciously made, or
(iii) Tenant’s access to the Land is reduced by such
taking or conveyance and Tenant determines that its access to
the Premises is inadequate or unsatisfactory for its purposes,
which determination shall not be arbitrarily or capriciously
made, Tenant shall have the right to terminate this Lease,
subject to Tenant’s rights as set forth below. Such
termination shall be effective on the date Tenant is required to
give up its occupancy, use, or access, whichever is earlier. The
termination of this Lease as provided above shall not operate to
deprive Tenant of the right, and Landlord expressly grants to
Tenant the right, to make a claim for an award in condemnation,
or participate in an award, for loss of business goodwill,
relocation expenses, Tenant’s leasehold interest and/or
lease bonus value, loss or damage to Fixtures and improvements
made by Tenant to the Premises, the value of Tenant’s
unexpired options to extend the Term, or any other claims that
Tenant is permitted or elects to make, or to receive notices and
participate in the condemnation proceedings, including any
settlement negotiations, whether conducted prior to or after the
filing of a condemnation proceeding.

     
If this Lease is not terminated as provided
herein, Landlord and Tenant shall agree upon an equitable
reduction in the rent. If the parties fail to agree upon such
reduction within sixty (60) days from the date Tenant is
required to give up such occupancy, use or access, whichever is
earlier, Landlord and Tenant shall each choose one arbitrator
and the two arbitrators so chosen

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shall choose a third arbitrator. The decision of
any two of the arbitrators concerning the rent reduction, if
any, shall be binding on Landlord and Tenant and any expense of
the arbitration shall be divided equally between Landlord and
Tenant. Any such reduction in rent shall not constitute an
election of remedies by Tenant nor deprive Tenant of the right
to make a claim for an award in condemnation as set forth above
or receive notices and participate in the condemnation
proceedings, including any settlement negotiations.

     
19. Default.

     
(a) If Tenant defaults in any required
payment of Rent hereunder, which default continues for greater
than ten (10) days following written notice of such default
from the Landlord, Landlord shall have the right to exercise one
of the following options:

		
	 	     
    (i) Landlord may declare the forfeiture of
    this Lease by sending Tenant written notice thereof. Upon
    Tenant’s receipt of such notice, this Lease shall expire
    and terminate as fully and completely and with the same effect
    as if that date where fixed for the expiration of the Term or
    the Extended Term and all rights of Tenant, including occupancy
    of the Premises, shall expire and Tenant shall be relieved of
    all liability for any future rent or any other sums otherwise
    due from the date of such termination; or
    
	 
	 	     
    (ii) Landlord may reenter and repossess the
    Premises, removing all persons therefrom without prejudice to
    any remedies for arrears of monthly rent or any other sums
    otherwise due, or breach of any other covenants hereunder.
    Landlord shall have a lien as security for such deficiency on
    the Fixtures belonging to Tenant which remain on the Premises.
    Within a reasonable period of time following such reentry and
    repossession, Landlord shall relet the Premises for the account
    of Tenant on such terms and conditions and for such uses as
    Landlord may reasonably determine in an effort to mitigate
    Landlord’s damages as a result of Tenant’s 

    

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default hereunder. Landlord shall collect and
receive any rent or any other sums otherwise due which may be
payable by reason of such reletting. Tenant shall be liable for
and pay to Landlord all monthly rent or any other sums otherwise
due up to and including the date of such reentry and
repossession; and, thereafter, Tenant shall, until the end of
what would otherwise have been the then current Term, be liable
to Landlord for and shall pay to Landlord, all monthly rent or
any other sums otherwise due less the net proceeds of any
reletting as set forth herein, after deducting from such
proceeds all of Landlord’s reasonable expenses incurred in
conjunction with such reletting. Tenant shall pay such monthly
rent or any other sums otherwise due on the days on which they
would be payable hereunder in the absence of Tenant’s
default.

     
(b) If Tenant defaults in the performance of
any of the terms, covenants and conditions of this Lease other
than the payment of monthly rent, which default continues for
more than thirty (30) days following written notice from
the Landlord of such default, or, if the default is of such
character as to require more than thirty (30) days to cure
and Tenant fails to commence to cure within thirty
(30) days after receipt of such notice and thereafter to
diligently proceed to cure such default, then in either such
event Landlord may cure the default and Tenant shall promptly
reimburse Landlord for any expenses incurred by Landlord, but
any such default shall not cause the forfeiture of this Lease or
of Tenant’s right of possession.

     
(c) If Landlord defaults in the performance
of any of the terms, covenants and conditions of this Lease,
Tenant shall promptly notify Landlord in writing. If Landlord
fails to cure such default within thirty (30) days after
receipt of such notice, or if the default is of such character
as to require more than thirty (30) days to cure and
Landlord fails to commence to cure within thirty (30) days
after receipt of such notice and thereafter diligently proceed
to cure such default, then, in either such event, Tenant, at its
option, may, to the extent permitted by law, (i) 

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cure such default and setoff or deduct any
expense so incurred from the rent or other amounts due,
(ii) cancel and terminate this Lease and/or
(iii) bring an action against Landlord, at law or in
equity, arising out of such breach.

     
(d) If suit is brought to enforce any terms,
covenants or conditions of this Lease, the parties agree that
the losing party shall pay the prevailing party’s
reasonable attorney’s fees, including reasonable
attorney’s fees incurred in enforcing a judgment, which
shall be fixed by the court and court costs. As used herein, the
term “prevailing party” shall mean the party which has
succeeded upon a significant issue in the litigation and
achieved a material benefit with respect to the claims at issue,
taken as a whole. The parties hereto further agree to waive
trial by jury in the event of a suit being brought hereunder.

     
20. Right of First
Refusal. If Landlord receives a
bona fide acceptable offer to purchase the Target Property while
this Lease remains in full force and effect, Landlord hereby
grants to Tenant an option to purchase the same upon the same
terms and conditions as contained in the offer, provided that
the purchase price to Tenant shall be reduced by any real estate
commissions Landlord would have been obligated to pay pursuant
to the bona fide acceptable offer but which Landlord shall not
be obligated to pay upon a sale to Tenant. Immediately after the
receipt of such offer, Landlord shall give Tenant written notice
of the terms and conditions of the offer in the manner described
in Article 29, enclosing a copy of the offer and enclosing
copies of all information and documentation reasonably necessary
to the consideration of such offer, and Tenant may exercise the
option to purchase hereunder at any time within thirty
(30) days after receipt of such notice and additional
documentation. Landlord shall promptly provide Tenant with any
other information reasonably requested by Tenant within such
thirty (30) day period and Tenant shall have an additional
ten (10) day period after its receipt of such additional

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information to exercise such option. If Tenant
elects to exercise such option, it shall do so by giving written
notice to Landlord within such period or periods and a purchase
contract shall be executed by the parties and title conveyed
within a reasonable time thereafter. In the event the Tenant
exercises its option to purchase and proceeds to full and final
settlement on the Target Property, a sum equal two-thirds (2/3)
of the Rent paid by the Tenant to the Landlord during the
initial three year Term, pursuant to the terms of this Lease,
shall be paid by Landlord to Tenant upon Tenant’s occupancy
of the Permanent Building. The failure of Tenant to exercise the
option to purchase shall in no way release or relieve Landlord
from Landlord’s obligation to provide Tenant with notice of
any future offers to purchase, provided that this Lease remains
in full force and effect at the time of any such offer.

     
21. Option.
Subject to the provisions of Section 20 above, the Tenant
shall have the exclusive option to purchase the Target Property
once the Landlord’s Park Center plans are finalized and the
Target Property is finally developed by the Landlord (the
“Option”). For the purposes of this Section, the term
“developed” shall mean that the Landlord has fully
approved and finalized the Park Center plans, has subdivided the
Target Property, and has installed all necessary streets, curbs,
gutters, sidewalks, and utilities which would otherwise effect
the Target Property. The Option shall be available to Tenant for
a period of one (1) month following notification from
Landlord to the Tenant that the Target Property has been
developed, as defined in this Section, unless extended by
written agreement of the parties. Should Tenant exercise the
Option to acquire the Target Property in accordance with the
terms and provisions of this Section 21 (and provided that
the Option has not otherwise expired), the purchase price for
the Target Property shall under no circumstances be greater than
Six and No/100 Dollars ($6.00) per square foot of land to
be contained in the Target Property (the “Option
Price”). The actual Option Price 

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shall be determined as follows: Landlord and
Tenant shall each select one commercial real estate broker or
commercial appraiser, having substantial (at least ten years)
experience in the valuation of commercial property in the
Washington, D.C. metropolitan area. The two selected brokers or
appraisers shall then select a third broker or appraiser, who
will then arrive at a fair market value, which will be used as
the Option Price, provided that such value is less than or equal
to Six and No/100 Dollars ($6.00) per square foot. If the value
arrived at by the selected broker or appraiser is greater than
Six and No/100 Dollars ($6.00) per square foot, then the
Option Price shall be Six and No/100 Dollars ($6.00) per square
foot. Landlord and Tenant shall each pay any expenses or costs
charged by their own selected broker or appraiser, and shall
equally share the expenses or costs of the third selected broker
or appraiser.

     
If the Tenant exercises the Option, it shall
notify Landlord by written notice. The effective date of the
notice will be the receipt date of the notice by the Landlord.
Simultaneously with such notice, the Tenant shall deliver to
Landlord a check representing five percent (5%) of the Option
Price (the “Option Deposit”). Thereafter, the
transaction shall proceed to settlement within sixty
(60) days of the date of Tenant’s notice to the
Landlord (the “Option Closing Date”). In the event the
Tenant exercises the Option and proceeds to full and final
settlement on the Target Property, a sum equal to two-thirds
(2/3) of the Rent paid by the Tenant to the Landlord during the
initial three (3) years of the Term, pursuant to the terms
of this Lease, shall be paid by Landlord to Tenant upon
Tenant’s occupancy of the Permanent Building. The Option
Price for the Target Property shall be paid for by the Tenant at
settlement in cash or other guaranteed funds, against which the
Option Deposit shall be a credit.

     
22. Conditions
Precedent. Tenant and Landlord
shall promptly proceed to satisfy each of the following
conditions precedent. In the event the following have not been
fulfilled or 

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waived by Tenant on or before six (6) months
from the date of this Lease, then this Lease may be terminated
by the Tenant upon written notice to the Landlord:

     
(a) Tenant shall have obtained all permits
and approvals required for the construction of Tenant’s
proposed Improvements, at Tenant’s sole expense;

     
(b) samples, test borings, percolation,
groundwater and other tests (including, but not limited to,
testing for hydrocarbons, hazardous substances, toxic pollutants
and other contaminants) being obtained by Tenant as agent for
Landlord, and at the expense of Tenant showing any environmental
conditions satisfactory to Tenant and the appropriate
governmental authorities. Landlord shall report any condition
revealed by such tests to the extent required by applicable law,
and Tenant shall have no responsibility or liabilities therefore.

     
(c) Tenant having applied for and obtained
all necessary and applicable regulatory approvals to open a
temporary and permanent branch banking facilities in the City.

     
(d) the City of Manassas Park Governing Body
shall have adopted a preferred banking and affiliation
resolution in substantial conformance with the sample resolution
attached hereto and incorporated herein as Exhibit
“E”, and the City shall have utilized its best
efforts to have the Manassas Park City Treasurer execute a
Treasurer’s finding and directive of the form substantially
in conformance with the attached Exhibit
“F”.

     
(e) The Landlord shall have deposited, or
have made arrangements to deposit, with the Tenant a substantial
portion of the City of Manassas Park funds currently on deposit
with other banking institutions.

     
Should Tenant, at its sole option, elects to
appeal any adverse administrative or regulatory ruling or
initiate legal proceedings to satisfy any of the conditions
precedent, the time period specified above shall be extended for
the period of time Tenant continues to pursue the 

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satisfaction of same through such appeal or legal
proceedings. Each party shall fully cooperate with the other in
seeking such permits, approvals and licenses, and in conducting
such tests.

     
23. Landlord’s
Covenants. Landlord covenants
that: (i) it has good and marketable fee simple title to
the Land which is, to the best of Landlord’s knowledge,
free of all leases, tenancies, agreements, encumbrances, liens,
restrictions and defects in title affecting the rights granted
Tenant in this Lease; (ii) there are no restrictive
covenants, zoning or other ordinances or regulations applicable
to the Land which will prevent the Land from being used as
permitted in Article 6 above; (iii) to the best of
Landlord’s knowledge, information and belief, the Land is
free from pollution or contamination by hydrocarbons, hazardous
wastes, toxic pollutants and/or other contaminants and any
underground storage tanks or facilities currently or previously
located on or under the Land have been or will be (prior to
Tenant’s acceptance of the Land) properly removed and
disposed of and that any contamination related thereto has been
or will be (prior to Tenant’s acceptance of the Land)
assessed and remedied according to applicable laws, rules,
regulations and ordinances to the satisfaction of the
appropriate governmental authorities; and (iv) that any
maintenance, repairs or improvements to be performed to or on
the sewer line and easement upon which Tenants Improvements are
to be located (collectively the “Sewer Repairs”),
shall be performed at the sole cost and expense of the City. Any
damage caused to the Tenants Temporary Facilities or
Improvements as a result of any such Sewer Repairs, shall be
promptly made at the sole cost and expense of the City.

     
24. Leasehold Title
Policy. Within sixty (60) days
from the date of this Lease, Tenant may, at its sole option and
expense, obtain through a reputable title insurance company (the
“Title Company”) preliminary title documentation and
extended coverage leasehold title insurance and a survey (the
“Survey”) acceptable to the Title Company for such
title insurance 

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and a report by a surveyor acceptable to Tenant
locating and describing the Land, showing all boundaries and
corners of the Land properly and securely marked by pins, and
certifying as to easements and encroachments. A preliminary
title report or binder (the “Binder”) shall be issued
giving the current condition of title to the Land, together with
copies of all instruments necessary to fully explain the scope
and effect of any matters listed as exceptions in the Binder
whereby the Title Company is bound to issue to Tenant or its
nominee, for an amount to be determined by Tenant, an A.L.T.A.
Standard, or a comparable form, with extended coverage if such
form is not approved in the state in which the Premises is
located (herein the “Title Policy”). In the event the
Binder or the Survey reflects any matters or conditions which
Tenant reasonably determines will interfere with its intended
development or use of the Premises, or the rights granted Tenant
in this Lease, Tenant may terminate this Lease.

     
25. Quiet
enjoyment. Upon paying the Rent
and performing the terms, covenants and conditions of this
Lease, Tenant shall quietly have, hold and enjoy exclusive
possession of the Premises and all rights granted Tenant by this
Lease.

     
26. Subordination.
Landlord agrees that the lien of Landlord’s lender or any
future lender who obtains a lien on the Land shall be inferior,
as to any Improvements and Tenant’s leasehold interest, to
the lien of Tenant’s lender, or any future lender who
obtains a lien on the Improvements or Tenant’s leasehold
interest and any and all renewals, extensions, modifications,
consolidations or replacement of said liens. Landlord represents
and warrants that currently there are no mortgages or similar
encumbrances affecting the Land.

     
27. Liens.
Tenant shall at all times have the right to encumber, by
mortgage or deed or trust, or other proper instrument in the
nature thereof, as security for any actual bona fide debt, its
leasehold estate hereby created, or any portion thereof,
together with its leasehold right and 

17

 

interest in and to all buildings and Improvements
and its interest in any equipment located on the Premises.

     
28. Bankruptcy.
Should Tenant make an assignment for the benefit of its
creditors, or seek an order for relief under the United States
Bankruptcy Code, Landlord, at its option, may terminate all
right of Tenant under this Lease, if permitted by applicable law.

     
29. Notices.
Any notices required or permitted hereunder shall be in writing
and delivered either in person to the other party or by United
States Certified Mail, Return Receipt Requested, postage fully
prepaid, to the addresses set forth below or to such other
address as either party may designate in writing and deliver as
provided in this Article.

     
LANDLORD:

		
	 	
    David W. Reynal, 

     City Manager 

     City of Manassas Park 

     One Park Center Court 

     Manassas Park, Virginia 20111-2395
    

     
WITH A COPY TO:

		
	 	
    Brian J. Lubkeman, Esquire 

     City Attorney 

     McGuire Woods LLP 

     1750 Tysons Boulevard, Suite 1800 

     McLean, Virginia 22102
    

     
TENANT:

		
	 	
    Thomas A. Young, Jr., 

     President and CEO 

     Alliance Bank 

     12735 Shops Lane 

     Fairfax, Virginia 22033
    

18

 

     
WITH A COPY TO:

		
	 	
    V. Rick Nishanian, Esquire 

     Vanderpool, Frostick & Nishanian, P.C. 

     9324 West Street, Suite 400 

     Manassas, Virginia 20110
    

     
30. Recordation.
This Lease shall not be filed for public record. However,
Landlord and Tenant shall execute and acknowledge a memorandum
or short form lease (which will include Tenant’s rights
under Articles 20 and 21) which may be filed for record by
either party at any time after the execution of this Lease,
setting forth the parties, description of the Land, description
of the Target Property, Term, Extended Term, right of first
refusal, the Option to Purchase and any other provisions
mutually agreed upon.

     
31. No
Broker. Landlord and Tenant
covenant, warrant and represent that no broker has been involved
in the negotiation or consummation of this Lease. Tenant and
Landlord each agree to indemnify and hold the other harmless
from and against all causes of action and liabilities arising
out of a claim for a commission by any broker purporting to have
acted on behalf of the indemnifying party.

     
32. Force
Majeure. Neither party shall be
required to perform any term, covenant or condition of this
Lease so long as such performance is delayed or prevented by
force majeure, which shall mean any acts of God, strike,
lockout, material or labor restriction by any governmental
authority, civil riot, and any other cause not reasonably within
the control of such party and which by the exercise of due
diligence such party is unable, wholly or in part, to prevent or
overcome.

     
33. Holdover.
Should Tenant remain in possession of the Land after the
expiration of the Term or the Extended Term, Tenant shall be
deemed to be occupying the Land as a month-to-month tenant, at a
monthly rental equal to the rent payable during the last month
of the Term 

19

 

or the Extended term. Any Remedial measures with
respect to any surface of subsurface contamination that Tenant
is obligated to undertake after the expiration of the Term or
the Extended Term shall not constitute a holdover.

     
34. Applicable
Law. This lease shall be governed
by the laws of the Commonwealth of Virginia.

     
35. Complete
Agreement. This Lease merges all
prior negotiations and understandings between the parties and
constitutes their complete agreement which is binding upon
Landlord and the Tenant, heirs, executors, administrators,
successors and assigns. This Lease may only be amended by
written agreement signed by Landlord and Tenant.

		
	 	
    TENANT:
	 
	 	
    ALLIANCE BANK CORPORATION
	 	
    a Virginia banking corporation
    
	 
	 	
    By: /s/ Thomas A. Young, Jr.
    
	 	
    

	 	
    Thomas A. Young, Jr.
    
	 	
    President/CEO
    
	 	
    Date:
    

Attest:

By: /s/ Paul M. Harbolick, Jr. 

 

Name: Paul M. Harbolick, Jr.

Title: Secretary

[Landlord’s Signature is Continued on the
Following Page]

20

 

		
	 	
    LANDLORD:
	 
	 	
    

     CITY OF MANASSAS PARK, VIRGINIA
	 
	 	
    By: /s/ William J. Treuting, Jr.
    
	 	
    

	 	
    Name: William J. Treuting, Jr.
    
	 	
    Title: Mayor
    
	 	
    Date: 6/11/01
    

Attest:

By: /s/ [SIG] 

 

Title: City Clerk

21

 

EXHIBIT “A”

(Plat Depicting The Land)

i

 

 

EXHIBIT “B”

(Two Page Concept Plan Depicting Temporary
Facilities)

ii

 

 

 

EXHIBIT “C”

(Plat Depicting The Target Property)

iii

 

 

EXHIBIT “D”

(ATM Form Lease)

iv

 

EXHIBIT “E”

(Sample Resolution of The Governing
Body

of The City of Manassas Park)

v

 

City of Manassas Park, Virginia

RESOLUTION OF THE GOVERNING BODY

OF THE CITY OF MANASSAS PARK

[Alliance Bank]

     
The Mayor and City Council (the “governing
body”) of the City of Manassas Park, Virginia (the
“City”), during the regular meeting of the governing
body held on
                    ,
2001, with a quorum established and upon motion, second, and
affirmative majority vote adopted the following resolutions:

     
WHEREAS, as part of the City’s ongoing
program of economic development it has encouraged new businesses
to locate their operations within the City, in particular
soliciting and encouraging those new businesses affording
products and services not currently available within the City;
and

     
WHEREAS, the City has targeted banking services
as a valuable business to encourage both economic
self-sufficiency and further development for the City, noting
that the City currently has no banks or financial institutions
within its boundaries and both the City and its citizens of
necessity must obtain those services in other jurisdictions; and

     
WHEREAS, Alliance Bank, a Virginia banking
corporation (“Alliance”) has expressed an immediate
interest in establishing a bank branch within the City,
initially on a temporary site leased from the City and more
permanently on a target property to be developed by the City
within its proposed Park Center Project; and

     
WHEREAS, Alliance has requested the City to
provide some advance indication that available public funds held
by the City Treasurer in banks and financial institutions
outside the City would be deposited in the Alliance branch when
established in the City; and

     
WHEREAS, it is in the public interest for the
City to provide some assurance to Alliance that the City will
avail itself of the banking services Alliance would provide and
to induce a new business to locate within the City boundaries;
and

     
WHEREAS, subject to applicable laws governing the
deposit of public funds, the City should deposit its public
funds within the City and by preference with Alliance, to
encourage the economic development and secure the banking
services within the City;

     
NOW, THEREFORE, in consideration of the foregoing
recitals the Mayor and City Council hereby:

 

 

		
	Resolution of the Governing Body	[Alliance Bank]

of Manassas Park

     
RESOLVED, that the
governing body of the City hereby establishes a preferential
banking relationship with Alliance, upon its establishing an
operating bank branch within the City (the “Alliance City
Branch”), and directs that any public funds of the City
available for deposit in banks or lending institutions on terms
and conditions also available at Alliance shall be deposited and
maintained with Alliance at the Alliance City Branch; and

     
FURTHER RESOLVED,
that the governing body does hereby recommend to and request
that the City Treasurer, who is charged by statute with the
holding and disposition of the City’s public finds,
pursuant to her authority under § 2.1-329 of the
Virginia Code, establish accounts with and deposit available
public funds at the Alliance City Branch, on a preferential
basis over other banks and financial institutions located
outside the City, subject in every event to the obligation to
comply with applicable law and obtain for the City favorable
terms and conditions for its deposits and investments; and

     
FINALLY RESOLVED,
that the governing body hereby authorizes and directs the City
Manager and other City officials to execute and deliver such
additional written assurances or instruments necessary or
convenient to implement the intent of the foregoing resolutions.

CERTIFICATE OF CITY CLERK:

     
The foregoing “Resolution of the Governing
Body of the City of Manassas Park [Alliance Bank]” was
adopted by affirmative majority vote at the regular meeting of
the Mayor and City Council held
on                               ,
2001, on the following votes:

     
AYE:

     
NAY:

(SEAL)

		
	 	
    

	 	
    City Clerk
    
	 	
    Date: 

2

 

EXHIBIT “F”

(Sample Directive By the City
Treasurer

of The City of Manassas Park)

vi

 

City of Manassas Park, Virginia

DIRECTIVE BY THE CITY TREASURER

OF THE CITY OF MANASSAS PARK

[Alliance Bank]

PREFERENTIAL BANKING RELATIONSHIP

     
1.     The City of
Manassas Park, Virginia (the “City”), has an ongoing
program of economic development it has encouraged new businesses
to locate their operations within the City, in particular
soliciting and encouraging those new businesses affording
products and services not currently available within the City,
and the City has specifically targeted banking services as a
valuable business to encourage both economic self-sufficiency
and further development for the City, noting that the City
currently has no banks or financial institutions within its
boundaries and both the City and its citizens of necessity must
obtain those services in other jurisdictions.

     
2.     The Mayor and
City Council (the “governing body”) of the City, by a
resolution of the governing body dated
                                        ,
2001, recognized that Alliance Bank, a Virginia banking
corporation (“Alliance”) has expressed an immediate
interest in establishing a bank branch within the City,
initially on a temporary site leased from the City and more
permanently on a target property to be developed by the City
within its proposed Park Center Project.

     
3.     Alliance has
requested the City to provide some advance indication that
available public funds held by the City Treasurer in banks and
financial institutions outside the City would be deposited in
the Alliance branch when established in the City and the
governing body has determined that it is in the public interest
for the City to provide some assurance to Alliance that the City
will avail itself of the banking services Alliance would provide
and to induce a new business to locate within the City
boundaries, and subject to applicable laws governing the deposit
of public funds, the City should deposit its public funds within
the City and by preference with Alliance, to encourage the
economic development and secure the banking services within the
City.

     
IT IS HEREBY DIRECTED BY THE CITY
TREASURER, therefore, in keeping with
that resolution of the governing body of the City establishing a
preferential banking relationship with Alliance, upon its
establishing an operating bank branch within the City (the
“Alliance City Branch”), and directing that any public
funds of the City available for deposit in banks or lending
institutions on terms and conditions also available at Alliance
be deposited and maintained with Alliance at the Alliance City
Branch, and recommending and requesting that the City Treasurer,
who is charged by statute with the holding and disposition of
the City’s public funds, pursuant to her 

 

 

		
	Resolution of the Governing Body	[Alliance Bank]

of Manassas Park

authority under §2.1-329 of the Virginia
Code, establish accounts with and deposit available public funds
at the Alliance City Branch, on a preferential basis over other
banks and financial institutions located outside the City,
subject in every event to the obligation to comply with
applicable law and obtain for the City favorable terms and
conditions for its deposits and investments, that the City
Treasurer shall so establish those accounts and from time to
time as public funds are available for deposit in a bank or
financial institution, the City Treasurer shall, all other terms
and conditions being equal, prefer and direct those funds to the
Alliance City Branch before any other institution located
outside the City.

     
IT IS FURTHER
DIRECTED, that the City Treasurer
hereby authorizes and directs any Deputy Treasurer or official
representative of the Office of the City Treasurer to execute
and deliver such additional written assurances or instruments
necessary or convenient to implement the intent of the foregoing
Directive.

     
IN WITNESS WHEREOF this “Directive by the
City Treasurer of the City of Manassas Park [Alliance Bank]
Preferential Banking Relationship” is adopted by the local
official handling public funds of the City of Manassas Park,
Virginia, effective this
           day
of
                    ,
2001.

(SEAL)

		
	 	
    

	 	
    City Treasurer
    

2exv10w3

 

Exhibit 10.3

LEASE AGREEMENT

     
This agreement entered into as of the 12th of
July, 2001, between RON HENRY ASSOCIATES, of
5435 Claybourne Street, Suite 606, Pittsburgh, PA 15232,
(“Lessor”) and Alliance Bank
(“Lessee”).

WITNESSETH

     
WHEREAS, parties hereto have agreed that Lessee
shall lease from the Lessor the property described herein,
subject to such terms and conditions as are described herein.

     
NOW, THEREFORE, intending to be legally bound
hereby, the parties agree for themselves, their successors,
heirs, and assigns, as follows:

     
Subject to the terms and conditions noted herein,
Lessor and Lessee have agreed that Lessee shall lease that
property described as follows: one mobile temporary bank
facility more particularly identified and equipped as described
in Appendix A, attached hereto and made a part hereof by
reference. The property described in Appendix A shall be
referred to collectively herein as the “Facility.”
Total payment due Lessor from Lessee hereunder over the term of
this Lease shall be in the amounts described in Appendix A,
the first payment being due upon delivery of the Facility,
additional payments being due at the address of the Lessor noted
herein on or before the 10th day of each month for that month,
or fraction of that month. The term of the Lease shall begin on
the day of delivery and extend for the period provided in
Appendix A, inclusive. This lease may be renewed by Lessee
at the monthly rate specified in Appendix A, if Lessee
shall have given written notice to Lessor not less that
30 days prior to the expiration of the term of this Lease.

ARTICLE I

Site Preparation. Delivery, and Set
Up

     
1.1.     The Facility
shall be located at, and delivered to, the location described in
Appendix A.

     
1.2.     Lessee shall
bear responsibility for the selection and preparation of a
prepared site. All building, zoning, and other permits and
compliance with Federal, State, and local laws, statutes,
ordinances, regulations, and other requirements relating to the
location, placement, and Lessee’s occupancy of the Facility
are the sole responsibility of Lessee, and shall be complied
with at Lessee’s sole cost and expense.

     
1.3.     Lessee shall do
all things necessary at Lessee’s sole cost and expense to
supply the Facility with all necessary utility services
including (but not limited to) electric 

 

power, water, sewage, and security connections.

     
1.4.     Lessor shall
deliver the Facility and place it upon the site prepared by the
Lessee with all mechanical equipment, including heating and air
conditioning, to be operable within a reasonable time after
delivery, 10 days. Lessor will, at its expense, make such
repairs as may be necessary of any damage incurred while the
Facility is in transit, prior to occupancy date.

     
1.5.     Delivery and
placement of the Facility upon the prepared site, including
leveling only, shall be the responsibility of the Lessor, but
Lessee shall pay Lessor the delivery/placement fee specified in
Appendix A, not later than the date of delivery, which fee
shall be exclusive of any other rents, fees, or charges to be
paid to Lessor hereunder. (Lessor shall bear, at its expense,
transit insurance coverage).

     
1.6.     Lessee shall
provide Lessor with names of persons authorized to act on
Lessee’s behalf hereunder, inclusive of business and home
telephone numbers, and shall advise Lessor of any changes on a
timely basis.

ARTICLE II

Repairs

     
2.1.     Lessee shall
maintain the Facility during the term of the Lease and any
renewals or extensions hereof, such responsibility to include
the making of normal repairs. Lessor shall reimburse Lessee for
necessary repair expenditures provided that such expenditures
are, in the judgment of Lessor, both normal and reasonable in
nature and amount, up to the aggregate of $500.00 for the term
of this Lease, and provided that no single payment for repairs
in excess of $250.00 intended to be submitted to Lessor for
reimbursement may be made without the prior consent of Lessor.
Lessor, upon being advised of a proposed repair, may at its sole
option, make arrangements for such repair to be undertaken by
its agents, employees, or contractors. Lessee shall hold Lessor
harmless from the actions of Lessee’s employers, agents, or
contractors. Lessee shall surrender and deliver the Facility to
Lessor in good condition, excepting normal wear and tear, upon
termination of the Lease.

     
2.2.     Lessee may,
during the term of the Lease, make minor interior structural
changes that do not alter the fundamental character of the
Facility such changes to be made at the sole expense of the
Lessee. Lessee may, at its sole expense, install and remove
fixtures which do not permanently alter or damage the office,
paint the exterior or interior of the Facility, and install or
remove signs. Lessee shall restore the Facility to its original
condition upon termination of the Lease, and such changes,
painting, and installation and removal of signs or fixtures
shall not be reimbursable under any circumstances by Lessor.

     
2.3.     Lessee has the
option to purchase the Facility at the end of the two year lease
term for $34,000 (thirty-four thousand dollars).

 

ARTICLE III

Relocation and Removal

     
3.1.     The Facility
shall not be removed from the site to which it was delivered by
Lessor without prior notice to, and written approval of, Lessor.
Any removal, transportation, or reinstallation of the Facility
shall be upon a site conforming with the Lessor’s
specifications. Any such relocation, reinstallation, or
transportation shall be at the sole expense and risk of Lessee.
Lessor may, at its option, make arrangements for removal,
transportation, or reinstallation. The expense of such services
to be billed and paid promptly by the Lessee. Upon termination
of the Lease, Lessor shall remove the Facility from the site at
no charge other than the removal charge specified in
Appendix A.

ARTICLE IV

Insurance and Damages

     
4.1.     Lessee shall,
at all times during the term of this agreement, maintain
insurance against loss as a result of fire, theft, windstorm,
and other hazards on the Facility in such amounts and form, and
under such terms as shall be acceptable to Lessor. Lessee shall
also obtain public liability insurance in the amount of
$100,000.00 which will afford indemnity to the Lessor as a
result of any accrual of alleged liability arising from
Lessee’s operation or occupancy of the Facility. Lessor
shall be provided with a copy of the policy or policies in
addition to certificates of insurance, and Lessor shall be named
as an insured party with respect to all such coverage.

     
4.2.     In the event
the Facility shall be damaged during the term of this Lease by
condemnation, exercise of the right of eminent domain within the
perils covered by insurance, Lessor shall have the option to
repair or replace the Facility within a period of 30 days
after having been notified in writing of the extent of the
damage. If the damage shall render said Facility untenantable,
the monthly rental payments contemplated hereunder shall abate
until such repairs or replacements shall have been completed,
and the term of this agreement shall be extended for a time
equal to such period of abatement. If, in connection with said
damage, the foundation for the Facility shall have been damaged
or destroyed, Lessee shall repair or rebuild said foundation to
the Lessor’s specifications in a timely manner and at its
expense. Lessor shall have no responsibility to make repairs
which depend upon repair of the foundation if such foundation
repairs are not completed by Lessee.

     
4.3.     If Lessor
determines that damage to the facility is greater than that
which may be repaired within 90 days of the event causing
said damage, this Lease shall be of no further force or effect
as of the date of such determination, and Lessor shall remit to
Lessee any amount paid to Lessor between the date of such
determination and the date of the related damage.

 

     
4.4.     Lessee shall
have the sole responsibility to exercise reasonable care in the
custody of its own property located in and around the Facility.
Lessor shall not be responsible for any damage or loss suffered
by Lessee as a result of the failure of Lessee to exercise such
care.

ARTICLE V

Assignment

     
5.1.     Lessee
covenants that it will not assign or otherwise transfer its
interest in this Lease Agreement, or its interests as Lessee in
the Facility, and that it will not sublease the Facility unless
such assignment, transfer, or sublease shall first have been
approved in writing by Lessor.

ARTICLE VI

Severability

     
6.1.     Should any
provision of this Lease be declared invalid, illegal, or against
public policy by any court of competent jurisdiction, the
invalidity of such provision shall not affect the validity of
other provision of this Lease, including with limitation
responsibility of Lessee to pay rents hereunder.

ARTICLE VII

Taxes

     
7.1.     In addition to
rental payments, Lessee shall pay any personal property tax or
other tax charge or assessment which may be levied upon the
Facility, or levied as a result of any other act or omission on
the part of the parties hereto arising from or in connection
with this Agreement, by any governmental unit. Such taxes shall
be paid directly by Lessee or, upon being billed by the Lessor,
shall be payable by Lessee upon receipt of invoice.

 

ARTICLE VIII

Fitness for Use

     
8.1.     Lessee
specifically agrees (a) that Lessor shall not be
responsible for the operation of any equipment included in or
made part of the Facility (specifically including but not
limited to, alarm systems), other than to cause repairs to be
made or paid for under the provision of Article II hereof,
and (b) that Lessor has made no representation to Lessee
with respect to, and shall not be responsible for, the security
of the Facility with respect to any criminal act. Lessor has
made no representation to Lessee as to the Facility’s
fitness for use other than an office, without regard to any
unique security arrangements which may be applicable for a bank
or financial institution.

 

     
IN WITNESS WHEREOF, the parties hereto have
executed agreement, or caused the same to be executed by their
duly appointed and authorized officers, on the day and year
above first written.

	 	 	 
	
    
    ATTEST:
    

    	 	
    RON HENRY ASSOCIATES, as Lessor
    
	 
	 
	 	 	
    By: 
	 	 	
    

	
	 	 
	
    
         (Assistant)
    Secretary
    

    	 	
         President
    

(Seal)

	 	 	 
	
    
    ATTEST:
    

    	 	
    ALLIANCE BANK, as Lessee
    
	 
	 
	
    
    /s/ [SIG]
    

    	 	
    By: /s/ [SIG]
    
	 	 	
    

	
	 	 
	
    
         (Assistant)
    Secretary
    

    	 	
         Vice President
    

(Seal)

 

APPENDIX “A”

 

		
	LESSOR: Ron Henry Associates	LESSEE: Alliance Bank

UNIT

 

		
	UNIT #: UNPI - 24’ x 48’	SERIAL #: 2163

 

			
	LENGTH: 48’	WIDTH: 24’	HEIGHT: 12’

INITIAL LEASE TERM:
24 months ($2,650.00 per month)

TOTAL PAYMENTS OVER INITIAL LEASE
TERM:

			
	 	TOTAL DUE: 	
    $63,500.00
    

(includes $500.00 Key Deposit)

		
	EXTENDED LEASE TERM: 	
    $2,600.00, month to month as needed
    

		
	FACILITY LOCATION: 	
    Manassas Park, Virginia
    

		
	DELIVERY DATE (ON OR ABOUT): 	
    August 15th, 2001
    

		
	DELIVERY/ PLACEMENT FEE: 	
    Billed as incurred not exceed $5,000
    

		
	REMOVAL FEE: 	
    Billed as incurred not exceed $4,000
    

EQUIPMENT DESCRIPTION:

Three teller stations with undercounter steel,
cash safe, night deposit,

customer convenience counter, ADA approved
restroom,

officer’s platform, and electric heat and
air conditioning

Optional: Sancor Self-Contained Toilet System -
$1,950.00 (full lease term)

Extended use: $100.00 per month, as needed

PAYMENT SCHEDULE:

	 	 	 
	
    
    Reservation Deposit
    

    	 	
    $ 975.00
    
	 
	
    
    With signed Lease Agreement
    

    	 	
    *$7,950.00 (3 month rental)
    
	
    
    Fifteen days after arrival
    

    	 	
    $7,950.00
    
	
    Forty-Five days after arrival - 18 monthly
    installments of $2,650.00
    

* less credit of lease deposit, if paid

Page 7 of 7

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