Document:

<PAGE>

                                 EXHIBIT 10.10

Revolving Business Credit Note (LIBOR - Based Interest Rate)
--------------------------------------------------------------------------------

Due: September 26, 2001                            $5,000,000.00

No.________________________                        Date: September 26, 2000

Promise to Pay.  On or before September 26, 2001, for value received, Macatawa
Bank Corporation (the "Borrower") promises to pay to Bank One, Michigan (the
"Bank"), or order, at any office of the Bank in the State of Michigan, the sum
of FIVE MILLION DOLLARS ($5,000,000.00), or such lesser sum as is indicated on
Bank records, plus interest as provided below.

Definitions.

As used in this note, the following terms have the following respective
meanings.

     "Applicable Margin" means with respect to any Floating Rate Loan Bank One
     Michigan Prime (minus) -.875% per annum and with respect to any Eurodollar
     Loan 1.50% per annum.

     "Business Day" means a day other than a Saturday or Sunday, or other day
     that commercial banks in Detroit, Michigan are authorized or required to
     close under the laws of the State of Michigan and, with respect to any
     Eurodollar Loan, on which dealings in United States dollar deposits are
     carried out in the London interbank market.

     "Credit Agreement" is defined in the paragraph entitled "Credit Agreement"
     below.

     "Credit Facility" is defined in the paragraph entitled "Credit Facility"
     below.

     "Eurodollar Base Rate" means the applicable British Bankers' Association
     Interest Settlement Rate for deposits in U.S. dollars appearing on Reuters
     Screen FRBD as of 11:00 a.m. (London time) two Business Days prior to the
     first day of such Interest Period, and having a maturity equal to such
     Interest Period, provided that, (i) if Reuters Screen FRBD is not available
     to the Bank for any reason, the applicable Eurodollar Base Rate for the
     relevant Interest Period shall instead be the applicable British Bankers'
     Association Interest Settlement Rate for deposits in U.S. dollars as
     reported by any other generally recognized financial information service as
     of 11:00 a.m. (London time) two Business Days prior to the first day of
     such Interest Period, and having a maturity equal to such Interest Period,
     and (ii) if no such British Bankers' Association Interest Settlement Rate
     is available to the Bank, the applicable Eurodollar Base Rate for the
     relevant Interest Period shall instead be the rate determined by the Bank
     to be the rate at which the Bank or one of its affiliate banks offers to
     place deposits in U.S. dollars with first-class banks in the London
     interbank market at approximately 11:00 a.m. (London time) two Business
     Days prior to the first day of such Interest Period, in the approximate
     amount of the Eurodollar Loan and having a maturity equal to such Interest
     Period.

     "Eurodollar Loan" means any Loan under the Credit Facility when and to the
     extent that its interest rate is determined by reference to the Eurodollar
     Rate.

     "Eurodollar Rate" means, with respect to any Eurodollar Loan and the
     related Interest Period, the per annum rate that is equal to the sum of:

     (A) the Applicable Margin, plus

     (B) the rate obtained by dividing (i) the Eurodollar Base Rate by (ii) an
     amount equal to one minus the stated maximum rate (expressed as a decimal)
     of all reserve requirements (including, without limitation, any marginal,
     emergency, supplemental, special or other reserves) specified on the first
     day of such Interest Period by the Board of Governors of the Federal
     Reserve System (or any successor agency) for determining the maximum
     reserve requirement with respect to eurocurrency funding required to be
     maintained by a Federal Reserve System member bank;
<PAGE>

     all as conclusively determined by the Bank, such sum to be rounded up, if
     necessary, to the nearest one-hundredth of one percent (1/100 of 1%).

     "Floating Rate" means the Prime Rate plus the Applicable Margin until
     maturity whether by acceleration or otherwise. "Prime Rate" means a rate
     per annum equal to the prime rate of interest announced from time to time
     by the Bank or its parent (which is not necessarily the lowest rate charged
     to any customer), changing when and as said prime rate changes.

     "Floating Rate Loan" means any Loan under the Credit Facility when and
     to the extent its interest rate is determined by reference to the Floating
     Rate.

     "Interest Period" means, with respect to any Eurodollar Loan, a period of
     one, two, three or six months agreed upon by the Borrower and the Bank,
     commencing on the Business Day the Loan is made. If the Interest Period
     would end on a day which is not a Business Day, the Interest Period shall
     end on the next succeeding Business Day unless that Business Day would fall
     in the next calendar month, in which case the Interest Period shall end on
     the immediately preceding Business Day.

     "Loan" and "Loans" are defined in the paragraph entitled "Credit Facility"
     below.

     "Loan Documents" means this note, the Credit Agreement, and any other
     documents executed in connection with the Credit Facility.

Credit Facility.  The Bank has authorized a credit facility to the Borrower in a
principal amount not to exceed the face amount of this note.  The credit
facility is in the form of loans (each, a "Loan", and, together, the "Loans")
made from time to time by the Bank to the Borrower.  This note evidences the
Borrower's obligation to repay those Loans.  The Bank shall, in the ordinary
course of business, make notations in its records of the date, amount, interest
rate and Interest Period of each Loan, the amount of each payment on the Loans,
and other information.  Such records shall, in the absence of manifest error, be
conclusive as to the outstanding principal balance of and interest rate or rates
applicable to the Loans.  The aggregate principal amount of debt evidenced by
this note shall be the amount reflected from time to time in the records of the
Bank but shall not exceed the face amount of this note.  Until maturity, the
Borrower may borrow, pay down, and reborrow under this note so long as the
aggregate principal amount outstanding at any one time does not exceed the face
amount of this note.

Credit Agreement.  This note evidences a debt under the terms of a Line of
Credit Agreement (the "Credit Agreement") between the Bank and the Borrower
dated September 26, 2000 and any amendments.

Interest Rates.  Each Loan under the Credit Facility may be outstanding as
either a Floating Rate Loan or a Eurodollar Loan.  The Borrower shall pay
interest to the Bank on the outstanding and unpaid principal amount of each
Floating Rate Loan at the Floating Rate and each Eurodollar Loan at the
Eurodollar Rate.  Interest shall be calculated on the basis of the actual number
of days elapsed in a year of 360 days.  In no event shall the interest rate
applicable to any Loan exceed the maximum rate allowed by law.  Any interest
payment which would for any reason be deemed unlawful under applicable law shall
be applied to principal.

Notice and Manner of Borrowing.  The Borrower shall give the Bank written notice
(effective upon receipt) of any Loan under the Credit Facility no later than
11:00 a.m. Detroit time, one (1) Business Day before each Floating Rate Loan and
three (3) Business Days before each Eurodollar Loan specifying:  (A) the date of
the Loan, (B) the amount of the Loan, (C) the type of the Loan (Floating Rate
Loan or Eurodollar Loan), and (D) in the case of a  Eurodollar Loan, the
duration of the applicable Interest Period.  Each Eurodollar Loan shall be in a
minimum amount of $1,000,000.00  All notices under this paragraph are
irrevocable.  By the Bank's close of business on the date of the Loan and upon
fulfillment of the conditions set forth in the Credit Agreement, the Bank shall
make the Loan available to the Borrower in immediately available funds by
crediting the amount of the Loan to the Borrower's account with the Bank.

Conversion and Renewals.  The Borrower may elect from time to time to convert
one type of Loan into another or to renew any Loan by giving the Bank written
notice no later than 11:00 a.m. Detroit time one (1) Business Day before
conversion into a Floating Rate Loan and three (3) Business Days before
conversion into or renewal of a Eurodollar Loan, specifying:  (A) the renewal or
conversion date, (B) the amount of the Loan to be converted or renewed, (C) in
the case of conversion, the type of Loan to be converted into (Floating Rate
Loan or Eurodollar Loan), and (D) in the case of renewals of or conversion into
a Eurodollar Loan, the applicable Interest Period, provided that (i) the minimum
principal amount of each Eurodollar Loan outstanding after a renewal or
conversion shall be $1,000,000.00 and (ii) a Eurodollar Loan can only be
converted on the last day of the Interest Period for the Loan.  All notices
given under this paragraph are irrevocable.  If the Borrower fails to give the
Bank the notice specified above for the

                            Exhibit 10.10 - Page 2
<PAGE>

renewal or conversion of a Eurodollar Loan by 11:00 a.m. Detroit time three (3)
Business Days before the end of the Interest Period for that Loan, the Loan
shall automatically be converted to a Floating Rate Loan on the last day of the
Interest Period for the Loan.

Loan-to-Value Ratio.  If the unpaid balance of the Liabilities shall at any time
exceed an amount equal to 50% of the then book value (as reasonably determined
by the Bank) of any securities constituting all or a portion of the Collateral,
and such excess continues for five (5) days after notice from the Bank to the
Pledgor, the Pledgor shall be in default under this Pledge and the Bank may sell
all or any portion of such securities and otherwise exercise any or all of the
rights and remedies set forth in this Pledge.

Default/Remedies.  If the Pledgor or the Borrower fails to pay any of the
Liabilities when due, or if a default exists under the terms of any agreement
related to any of the Liabilities, or if the Pledgor dies or fails to observe or
perform any term of this Pledge, or if any representation or warranty of the
Pledgor contained in this Pledge is untrue in any material respect, or if there
is a material change in the financial condition of the Pledgor which the Bank in
good faith determines to be materially adverse, then the Bank shall have all of
the rights and remedies provided by any law to liquidate or foreclose on and
sell the Collateral, including but not limited to the rights and remedies of a
secured party under the Uniform Commercial Code.  The Pledgor agrees and
acknowledges that because of the applicable securities laws, the Bank may not be
able to effect a public sale of the Collateral, and sales at a private sale may
be on terms and at a price less favorable than if the securities were sold at a
public sale.  The Pledgor agrees that all private sales made under these
circumstances shall be deemed to have been made in a commercially reasonable
manner.  These rights and remedies shall be cumulative and not exclusive.  If
the Pledgor is entitled to notice, that requirement will be met if the Bank
sends notice at least seven (7) days prior to the date of sale, disposition or
other event requiring notice.  The proceeds of any sale shall be applied first
to costs, then toward payment of the Liabilities, whether or not the Liabilities
have been declared to be due and owing; provided that, to the extent any
Liabilities consist of extensions of credit to the Borrower by the issuance of
letters of credit or other like obligations of the Bank to third parties which
have not been utilized, such proceeds shall be held by the Bank in a cash
collateral account as security for the Liabilities.

Waivers.  The Pledgor waives any right it may have to receive notice of any of
the following matters before the Bank enforces any of its rights:  (a) the
Bank's acceptance of this Pledge, (b) any credit that the Bank extends to the
Borrower, (c) the Borrower's default, (d) any demand, or (e) any action that the
Bank takes regarding the Borrower, anyone else, any collateral, or any
Liability, which it might be entitled to take by law or under any other
agreement.  No modification or waiver of this Pledge shall be effective unless
it is in writing and signed by the party against whom it is being enforced.  The
Bank may waive or delay enforcing any of its rights without losing them.  Any
waiver shall affect only the specific terms and time period stated in the
Waiver.  The Bank shall not be obligated to take any action in connection with
any conversion, call, redemption, retirement or any other event relating to any
of the Collateral.

Waiver of Subrogation.  Until thirteen months after the principal balance of and
interest on the Liabilities, even if not covered by this Pledge, shall have been
paid in full and the Borrower shall have fully performed all of its obligations
to the Bank, the Pledgor expressly waives any and all rights of subrogation,
contribution, reimbursement, indemnity, exoneration, implied contract, recourse
to security or any other claim (including any claim, as that term is defined in
the federal Bankruptcy Code, and any amendments) which the Pledgor may now have
or later acquire against the Borrower, any other entity directly or contingently
liable for the Liabilities, or against the Collateral arising from the existence
or performance of the Pledgor's obligations under this Pledge.

The Pledgor further agrees that such waiver is permanent and shall not be
revoked or terminated, in any event, including payment in full of the principal
balance of and interest on the Liabilities in the event that proceedings are
commenced at any time after execution of this Pledge by or against the Borrower
under any bankruptcy, reorganization, liquidation or similar laws of any
jurisdiction, including the federal Bankruptcy Code.  The Pledgor further agrees
that should any payments to the Bank on the Liabilities be in whole or in part
invalidated, declared to be fraudulent or preferential, set aside or required to
be repaid to a trustee, receiver or any other party under any bankruptcy act or
code, state or federal law, common law or equitable doctrine, this Pledge and
any Collateral shall remain in full force and effect (or be reinstated as the
case may be) until payment in full of any such amounts, which payment shall be
due on demand.

Representations by Pledgor.  Each Pledgor represents:  (a) that the execution
and delivery of this Pledge and the performance of the obligations it imposes do
not violate any law, conflict with any agreement by which it is bound, or
require the consent or approval of any governmental authority or any third
party; (b) that this Pledge is a valid and binding agreement, enforceable
according to its terms; and (c) that all balance sheets, profit and loss
statements, and other financial statements furnished to the Bank are accurate
and fairly reflect the financial condition of the organizations and persons to
which they apply on their effective dates, including contingent liabilities of
every type, which financial condition has not changed materially and adversely
since those dates.  Each Pledgor, other than a natural person, further
represents:  (a) that it is duly organized, existing and in good standing
pursuant to the laws under which it is organized; and (b) that the execution and
delivery of this Pledge and the performance of the obligations it imposes (i)
are within

                            Exhibit 10.10 - Page 3
<PAGE>

its powers and have been duly authorized by all necessary action of its
governing body; and (ii) do not contravene the terms of its articles of
incorporation or organization, its by-laws, or any partnership, operating or
other agreement governing its affairs.

Notices.  Notice from one party to another relating to this Pledge shall be
deemed effective if made in writing (including telecommunications) and delivered
to the recipient's address, telex number or facsimile number set forth under its
name by any of the following means:  (a) hand delivery, (b) registered or
certified mail postage prepaid, (d) Federal Express, Purolator Courier or like
overnight courier service, or (e) telecopy, facsimile or other wire transmission
with request for assurance of receipt in a manner typical with respect to
communications of that type.  Notice made in accordance with this section shall
be deemed delivered on receipt if delivered by hand or wire transmission, on the
third business day after mailing if mailed by first class, registered or
certified mail or on the next business day after mailing or deposit with an
overnight courier service if delivered by express mail or overnight courier.
Notwithstanding the foregoing, notice of termination of this Pledge shall be
deemed received only upon the receipt of actual written notice by the Bank in
accordance with the paragraph above labeled "Continued Reliance."

Miscellaneous.  The Pledgor  consents to (a) any extension, postponement,
renewal, modification and amendment of any Liability, (b) the release or
discharge of all or any part of any security for the Liabilities, and (c) the
release or discharge or suspension of any rights and remedies against any person
who may be liable for the Liabilities.  The Bank does not have to look to any
other right, any other collateral or any other person for payment before it
exercises its rights under this Pledge.  The Pledgor's obligations to the Bank
under this Pledge are not subject to any condition, precedent or subsequent, and
shall not be released or affected by any change in the composition or structure
of the Borrower or Pledgor, including a merger or consolidation with any other
person or entity.  If this Pledge is signed by more than one person, all shall
be jointly and severally bound.  This Pledge is binding on the Pledgor and its
heirs, successors and assigns, and is for the benefit of the Bank and its
successors and assigns.  This Agreement is governed by Michigan law.  The use of
section headings shall not limit the provisions of this Pledge.

Waiver of Jury Trial.  The Bank and the Pledgor knowingly and voluntarily waive
any right either of them have to a trial by jury in any proceeding (whether
sounding in contract or tort) which is in any way connected with this or any
related agreement, or the relationship established under them.  This provision
may only be modified in a written instrument executed by the Bank and the
Pledgor.

Dated: _____________________

Address:                                 Pledgor:

51 East Main Street                      Macatawa Bank Corporation
Zeeland, MI 49464

                                                /s/ Benj A. Smith III
                                         -------------------------------------
                                         By:  Benj A. Smith III, Chairman

                            Exhibit 10.10 - Page 4<PAGE>

                                 EXHIBIT 10.11

                       Benj. A. Smith & Associates, Ltd.
              Limited Discretionary Investment Advisory Agreement

     AGREEMENT, effective this  _____ day of ___________, 2000, between Macatawa
Bank and Benj. A. Smith & Associates, Ltd., A Michigan Corporation, 106 East
8/th/ Street, Holland, MI 49423.

1.   Appointment.  Macatawa Bank hereby appoints and retains Benj. A. Smith &
     Associates, Ltd. to provide Macatawa Bank with investment advice,
     investment recommendations and to perform such other duties and acts as are
     described on Schedule "A" attached hereto and in any changes, additions and
     withdrawals thereto, including earnings and profits (the "Accounts").
     Macatawa Bank may add to, withdraw from, or change the assets of the
     Accounts, and agree to advise Benj. A. Smith & Associates, Ltd. upon doing
     so.

2.   Custody of Account. Benj. A. Smith & Associates, Ltd. shall not be
     Custodian or Trustee of the Accounts. Macatawa Bank will act as Custodian
     to take and have custody of the Accounts. Macatawa Bank shall provide Benj.
     A. Smith & Associates, Ltd. each month with a complete listing of all
     funds, securities and other assets in the Accounts.

3.   Client Information.  To assist Benj. A. Smith & Associates, Ltd. with
     performance of its duties, Macatawa Bank agrees to furnish Benj. A. Smith &
     Associates, Ltd. with current information regarding Account owner's
     finances and investments, and Account owner's investment philosophy and
     goals.  All information and advice furnished by either Macatawa Bank or
     Benj. A. Smith & Associates, Ltd. to the other shall be treated as
     confidential and shall not be disclosed to third parties except as required
     by law.

4.   Investment Recommendations. Benj. A. Smith & Associates, Ltd. agrees to
     review the Accounts on a regular basis, and to make recommendations to
     Macatawa Bank as to the retention or sale of assets in the Accounts of
     assets in the Accounts. Benj. A. Smith & Associates, Ltd. will make
     recommendations that it believes are consistent with the information
     provided by Macatawa Bank, concerning Account owner's finances and
     investments, and Account owner's investment philosophy and goals, with
     recommendations being based on such investment information and other data
     as Benj. A. Smith & Associates, Ltd. has, at the time, in its possession.
     Benj. A. Smith & Associates, Ltd. will attempt to base its recommendations
     on information which it, in good faith, believes is reliable and complete,
     but Benj. A. Smith & Associates, Ltd. does not guarantee the accuracy of
     such information.

5.   Transactions by Advisor. Benj. A. Smith & Associates, Ltd. may purchase,
     sell or exchange securities and other assets of the Accounts. Such actions
     taken by Benj. A. Smith & Associates, Ltd. are to be done according to the
     investment policies and guidelines established and adopted by the Trust
     Committee and
<PAGE>

     Board of Directors of Macatawa Bank. Unless otherwise directed by Macatawa
     Bank, orders may be placed with such brokers, dealers or banks as Benj. A.
     Smith & Associates, Ltd. may select. If Macatawa Bank directs Benj. A.
     Smith & Associates, Ltd. to use a particular broker or dealer Benj. A.
     Smith & Associates, Ltd. may not be authorized to negotiate commissions on
     behalf of Macatawa Bank, and may not be able to obtain volume discounts or
     best execution of transactions. All commissions shall be charged to the
     Accounts.

6.   Voting of Securities. Unless otherwise specifically agreed in writing,
     Benj. A. Smith & Associates, Ltd. will not be required to take action, or
     render any advice, with respect to the voting of securities in the Account.

7.   Contracts with Others. Benj. A. Smith & Associates, Ltd. acts as advisor to
     other clients and may continue to give advice, and take action, with
     respect to any of those which may differ from the advice given, or timing
     or nature of the action taken, with respect to the Accounts.

8.   Compensation. Benj. A. Smith & Associates, Ltd. compensation for the
     services provided in this agreement shall be calculated and paid in
     accordance with the Schedule of Fees attached as Schedule "B".

9.   Liability of Benj. A. Smith & Associates, Ltd.. Benj. A. Smith &
     Associates, Ltd. shall not be responsible or liable for any error of
     judgement or for any mistake of law or for any costs, expenses, liability,
     losses or decline in the value of any securities or other assets in the
     Account unless it is established to have been caused by Benj. A. Smith &
     Associates, Ltd. willful misfeasance or bad faith on the performance of
     Benj. A. Smith & Associates, Ltd. [Agents] duties, or by reason of Benj. A.
     Smith & Associates, Ltd. reckless disregards of its obligation under this
     agreement, or breach of any statutory duty.

10.  Disclosure Statement. Macatawa Bank acknowledges receipt of Benj. A. Smith
     & Associates, Ltd. Disclosure Statement, as required by Rule 204-3 under
     the Investment Advisors Act of 1940, not less than 48 hours prior to
     entering into any written or oral investment advisory contract.

11.  Agreement not assignable.  No assignment (as that term is defined in the
     Investment Advisors Act of 1940) of this Agreement may be made by Benj. A.
     Smith & Associates, Ltd. without the written consent of Macatawa Bank.

12.  Termination. This Agreement may be terminated at any time upon (30) days
     prior written notice by either party, with termination being effective on
     the date stated in the notice.

13.  Notices. Notices required to be given under this Agreement shall be
     delivered in person or sent by first class mail to the address of Macatawa
     Bank and Benj. A. Smith & Associates, Ltd. set forth at the beginning of
     the Agreement. Notices

                            Exhibit 10.11 - Page 2
<PAGE>

     shall be deemed to be given upon personal delivery, or upon the third
     business day after mailing postage prepaid.

14.  Entire Agreement: Interpretation: Effectiveness. This Agreement constitutes
     the entire agreement of the parties with respect to Benj. A. Smith &
     Associates, Ltd. services for the Accounts and can be amended only by a
     written agreement signed by the parties. This Agreement shall be
     interpreted and construed under Federal Law to the extent permitted, and
     any parts not governed thereby shall be governed by the laws of the State
     of Michigan. This Agreement shall not be effective until executed and
     accepted by Benj. A. Smith & Associates, Ltd. at its office in Holland,
     Michigan.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be effective
on the date set forth above.
                                        Macatawa Bank

Dated:  __________________, 2000.       By:  _______________________________

                                             Its: __________________________

                                        Benj. A. Smith & Associates, Ltd.

                                        By: ________________________________

                                             Its: __________________________

                            Exhibit 10.11 - Page 3
<PAGE>

                                   EXHIBIT A

                                   ACCOUNTS

The following accounts constitute the purpose of this Agreement:

Account Name                                 Trust Account Number
------------                                 --------------------

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

Other Assets

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

                            Exhibit 10.11 - Page 4
<PAGE>

                                 SCHEDULE "B"

                    Advisor Compensation - Schedule of Fees

     Benj. A. Smith & Associates, Ltd. will be paid an annual negotiated market
value fee between 35 and 75 basis points on the market value of assets on which
Benj. A. Smith & Associates, Ltd. advises computed quarterly in arrears.

                            Exhibit 10.11 - Page 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}]]