Document:

Prepared by MerrillDirect

Exhibit
10.10.4

 

CURRENT
NOTE

	
  $35,000,000.00
  	 
  	
  December 22, 2000
  

 

FOR VALUE RECEIVED, the
undersigned, COMMUNITY FIRST BANKSHARES, INC., a Delaware corporation with
offices in Fargo, North Dakota, promises to pay on April 30, 2001 to the order
of Wells Fargo Bank Minnesota, National Association (the “Bank”) at the Bank’s
principal office in Minneapolis, Minnesota, or at any other place designated at
any time by the holder hereof, in lawful money of the United States of America,
the principal sum of THIRTY FIVE MILLION AND 00/100 DOLLARS ($35,000,000.00),
or so much thereof as is disbursed and remains outstanding hereunder as shown
by the Bank’s liability record on the dates payments are due hereunder,
together with interest on the unpaid balance hereof from the date hereof until
this Note is fully paid at annual rates determined in accordance with the
provisions of the Credit Agreement defined below.  Interest on this Note shall be calculated on the basis of actual
number of days elapsed (i) in a 365-day year in the case of the Base Rate
Borrowings and Federal Funds Borrowings (as defined in the Credit Agreement),
and (ii) in a 360-day year in the case of Eurodollar Borrowings (as defined in
the Credit Agreement).

 

This Note constitutes a Current
Note issued pursuant to the provisions of that certain Amended and Restated
Credit Agreement of even date herewith (the “Credit Agreement”) made between
the undersigned, the Bank, and Wells Fargo Bank Minnesota, National Association
(as lender and as agent).  Reference is
hereby made to the Credit Agreement for statements of the terms pursuant to
which accrued interest on this Note is payable.  Reference is also hereby made to the Credit Agreement for
statements of the terms pursuant to which the indebtedness evidenced hereby was
created, may be prepaid voluntarily, may be reborrowed and may be accelerated.

 

Unless prohibited by law, the
undersigned agrees to pay all costs of collection, including reasonable
attorneys’ fees and legal expenses, incurred by the holder hereof in the event
this Note is not duly paid.  The holder
hereof may change any terms of payment of this Note, including extensions of
time and renewals, and release any security for, or any party to, this Note,
without notifying or releasing any accommodation maker, endorser or guarantor
from liability in connection with this Note. 
Presentment or other demand for payment, notice of dishonor and protest
are hereby waived by the undersigned and each endorser or guarantor.  This Note shall be governed by the substantive
laws of the State of Minnesota.

 

	 
  	
  COMMUNITY FIRST BANKSHARES, INC.
  	 
  	 
  
	 
  	 
  	 
  	 
  
	 
  	 
  	 
  	 
  
	 
  	
  By:  /s/ Mark
  A. Anderson

  

  	 
  	 
  
	 
  	
        Mark A.
  Anderson,
  	 
  	 
  
	 
  	
       
  President and Chief Executive Officer
  	 
  	 
  
	 
  	 
  	 
  	 
  
	 
  	 
  	 
  	 
  
	 
  	
  By:  /s/Thomas R. Anderson

  

  	 
  	 
  
	 
  	
        Thomas R.
  Anderson,
  	 
  	 
  
	 
  	
        TreasurerPrepared by MerrillDirect

 

Exhibit
10.16

 

PLAN OF REORGANIZATION AND MERGER AGREEMENT

          This Plan of Reorganization and Merger
Agreement is dated as of May 31, 2000, and is entered into by and between
Community First National Bank, Phoenix, Arizona, Community First National Bank,
Spring Valley, California, Community First National Bank, Fort Morgan,
Colorado, Community First National Bank, Decorah, Iowa, Community First
National Bank, Fergus Falls, Minnesota, Community First National Bank,
Alliance, Nebraska, Community First National Bank, Las Cruces, New Mexico,
Community First National Bank, Salt Lake City, Utah, Community First National
Bank, Spooner, Wisconsin, Community First National Bank, Cheyenne, Wyoming,
(collectively, the “Target Banks”), and Community First National Bank, Fargo,
North Dakota (the “North Dakota Bank”and, collectively with the Target Banks,
the “Banks”).  Each of the Banks are
national banking associations duly organized and existing under the laws of the
United States.

          The Boards of Directors of the Banks deem
it fair and equitable to, and in the best interests of, their respective
shareholders, that the Target Banks be merged with and into the North Dakota
Bank, with the North Dakota Bank being the Surviving Bank (as hereinafter
defined), on the terms and conditions herein set forth under and pursuant to
the National Bank Act (the “Act”).  Each
such Board of Directors has approved this Plan of Reorganization and Merger
Agreement, has authorized its execution and delivery and has directed that this
Plan of Reorganization and Merger Agreement and the Merger be submitted to its
respective shareholders for approval.

          NOW, THEREFORE, in consideration of
the promises and the mutual agreements, provisions and covenants herein
contained, the parties hereto adopt and agree to the following agreements,
terms and conditions relating to the merger of the Target Banks with and into
the North Dakota Bank (hereinafter, the “Merger”) and the mode of carrying the
same into effect.

          1.       Merger.  The Target Banks will be merged with and
into the North Dakota Bank, which will be the surviving corporation
(hereinafter called the “Surviving Bank” whenever reference is made to it as of
the Closing Date or thereafter).  Such
Merger will be pursuant to the provisions of and with the effect provided in
the Act.  The date or dates when the
Merger will be consummated is hereinafter referred to as the “Closing Date” as
defined in Section 12 below.

          2.       Name.  The name of the Surviving Bank will be
“Community First National Bank.”

          3.       Board
of Directors; Officers.  The Board
of Directors of the Surviving Bank at the Closing Date will consist of the
following individuals:  Keith A.
Dickleman, Thomas E. Hanson, Robert W. Jorgenson, Gary A. Knutson, David A. Lee
and Charles A. Mausbach.

Such
directors will serve as directors of the Surviving Bank until the next annual
meeting of the Surviving Bank or until such time as their successors have been
elected and have qualified.  Additional
directors may be appointed from time to time as set forth in the Surviving
Bank’s Articles of Association and Bylaws. 
The executive officers of the Surviving Bank shall consist of the
following individuals:  David A. Lee,
Chairman, President and Chief Executive Officer; and Thomas R. Anderson, Chief
Investment Officer.

Other
officers of the Bank shall be appointed from time to time by the Board of
Directors of the Surviving Bank.  Such
officers will serve until their successors are elected or appointed in
accordance with the Bylaws of the Surviving Bank.

          4.       Capital
of the Surviving Bank.  The amount
of capital stock of the Surviving Bank shall be $10,000,000 divided into
100,000 shares of common stock, each of $100.00  par value, and at the time the merger shall become effective, the
Surviving Bank shall have a surplus of not less than $394,988,000 and undivided
profits, including capital reserves, which when combined with the capital and
surplus will be equal to the combined capital structures of the merging banks
before the Merger, adjusted however, for the capital reduction proposed
incident to consummation of the merger, and for normal earnings and expenses
(and if applicable, purchase accounting adjustments) between March 31, 2000,
and the effective time of the Merger.

          5.       Articles
of Association.  Effective as of the
time this Merger shall become effective as specified in the merger approval to
be issued by the Comptroller of the Currency, the articles of association of
the Surviving Bank shall read in their entirety as set forth in Exhibit A
hereto.

          6.       Bylaws.  The Bylaws of the North Dakota Bank in
effect at the time of this Merger shall continue as the Bylaws of the Surviving
Bank.

          7.       Effect
of the Merger.  At the Closing Date,
the separate corporate existence of the Banks will cease, and the Banks will
become a single bank, the Surviving Bank, as provided in Section 215a of the
Act.  The Surviving Bank will thereafter
have all the rights, privileges, immunities, and powers, and be subject to all
the duties and liabilities of a corporation incorporated under the Act.  The Surviving Bank will thereafter possess
all the rights, privileges, immunities, and franchises of a public as well as
of a private nature of the Banks, respectively; and all property, real,
personal, and mixed and all debts due on any account, including subscriptions
for shares, and all other choses in action, and every other interest of or
belonging to or due to the Banks will vest in the Surviving Bank without any
further act or deed.  As of the Closing
Date, the Surviving Bank will be responsible and liable for all the liabilities
and obligations of the Banks; a claim of or against or a pending proceeding by
or against either of the Banks may be prosecuted as if the Merger had not taken
place, or the Surviving Bank may be substituted in place of either of the
Banks.  Neither the rights of creditors
nor any liens upon the property of either of the Banks will be impaired by the
Merger.

          8.       Cancellation
and Reissuance of Common Stock.  At
the Closing Date, each share of Common Stock of the North Dakota Bank validly
issued and outstanding immediately prior to the Closing Date will remain issued
and outstanding as shares of the Surviving Bank.  Each share of Common Stock of the Target Banks validly issued and
outstanding immediately prior to the Closing Date will be canceled.

          9.       Shareholder
Approval.  This Plan of
Reorganization and Merger Agreement will be submitted to the respective
shareholders of the Banks for ratification and confirmation by consent or at
meetings to be called and held in accordance with the applicable provisions of
law and the respective Articles of Association and Bylaws of the Banks.  The Banks will proceed expeditiously and
cooperate fully in the procurement of any other consents and approvals and in
the taking of any other action, and the satisfaction of all other requirements
prescribed by law or otherwise, necessary for consummation of the Merger, and
the other transactions contemplated by this Agreement on the terms herein
provided.

          10.     Termination.  This Plan of Reorganization and Merger
Agreement may be terminated and the Merger abandoned by mutual consent of the
respective Boards of Directors of the Banks at any time prior to the Closing
Date.

          11.     Waivers;
Amendments.  Any of the Banks may,
at any time prior to the Closing Date, by action taken by its Board of
Directors or officers thereunto authorized, waive the performance of any of the
obligations of the other or waive compliance by the other with any of the
covenants or conditions contained in this Plan of Reorganization and Merger
Agreement or agree to the amendment or modification of this Plan of
Reorganization and Merger Agreement by an agreement in writing executed in the
same manner as this Plan of Reorganization and Merger Agreement.

          12.     Closing
Date.  The Merger will become
effective on the day on which the Office of the Comptroller of the Currency
shall declare the Merger effective (the “Closing Date”).  The Merger may, at the election of the North
Dakota Bank and with the consent of the Comptroller of the Currency, be
consummated in stages, involving such Target Banks as may be appropriate, in
order to effectuate an orderly data processing conversion and consolidation of
operations of the Banks.

          13.     Captions.  The captions in this Plan of Reorganization
and Merger Agreement are for convenience only and will not be considered a part
of or affect the construction or interpretation of any provision of this Plan
of Reorganization and Merger Agreement. 
This Plan of Reorganization and Merger Agreement may be executed in
several counterparts, each of which will constitute one and the same
instrument.

          14.     Governing
Law.  This Plan of Reorganization
and Merger Agreement is to be construed and interpreted in accordance with the
laws of the United States.

          WITNESS, the signature of said merging
Banks as of this 31 day of May, 2000, each set by its authorized officer and
attested thereto, pursuant to a resolution of its Board of Directors, acting by
a majority.

 

	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Phoenix, Arizona
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Spring Valley, California
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Fort Morgan, Colorado
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Decorah, Iowa
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Fergus Falls, Minnesota
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its Investment Officer

  

  

 

	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  ALLIANCE, Nebraska
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its 
  Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Las Cruces, New Mexico
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its 
  Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Salt Lake City, Utah
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its 
  Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Spooner, Wisconsin
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its 
  Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY FIRST NATIONAL BANK
  
	 
  	 
  	
  Cheyenne, Wyoming
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/ Thomas R. Anderson

  

  
	 
  	 
  	
  Its 
  Investment Officer

  

  
	 
  	 
  	 
  
	 
  	 
  	
  COMMUNITY
  FIRST NATIONAL BANK
  
	 
  	 
  	
  Fargo,
  North Dakota
  
	 
  	 
  	 
  
	 
  	
  By
  	
    /s/
  Thomas R. Anderson

  

  
	 
  	 
  	
  Its  Investment Officer

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