Document:

EX-10.2 FIRST AMENDMENT TO LEASE AGREEMENT

 

Exhibit 10.2

FIRST AMENDMENT TO LEASE

     THIS FIRST AMENDMENT TO LEASE (this “First Amendment”) is made and entered into as of the 18th
day of August, 1999, by and between PRENTISS PROPERTIES ACQUISITION PARTNERS, L.P., a Delaware
limited partnership (“Landlord”), and ebank.com, inc., a Georgia corporation (“Tenant”).

RECITALS:

     Landlord and Tenant did enter into that certain Lease Agreement dated June 30, 1999 (the
“Lease”), for the lease of certain premises (the “Premises”), more particularly described in the
Lease as Suite 230, containing approximately 3,665 square feet of Net Rentable Area on the second
floor in that certain building known as 2690 Cumberland Parkway, according to the present system of
naming and numbering streets and buildings in Atlanta, Cobb County, Georgia (the “Building”).

     Tenant and Landlord desire to expand the Premises as set forth in this First Amendment.

     NOW, THEREFORE, for and in consideration of the mutual covenants and obligations set forth in
the Lease and in this First Amendment, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant do hereby agree to amend the
Lease as follows:

	 	1.	 	Landlord and Tenant acknowledge and agree that it is the intention of the
parties hereto to add approximately 980 square feet of Net Rentable Area to the
Premises, presently known as Suite 240 in the Building, as more particularly described
or shown on the floor plan attached hereto as Exhibit A and made a part hereof
(hereinafter referred to as the “Expansion Area”), effective as of the earlier to occur
of (i) the date Tenant begins to occupy all or any portion of the Expansion Area, or
(ii) October 1, 1999 (the “Expansion Area Commencement Date”). Promptly after the
Expansion Area Commencement Date, Landlord shall send to Tenant a Commencement Notice,
substantially in the form set forth in Exhibit D to the Lease, setting forth
the Expansion Area Commencement Date and stating that the Expansion Area contains 980
square feet of Net Rentable Area, and containing certain other matters relating to the
Expansion Area as Landlord reasonably determines to therein set forth, and Tenant shall
be bound by the matters set forth therein. From and after the Expansion Area
Commencement Date, any and all references to the Premises contained in the Lease, as
amended hereby, shall mean the original Premises, which contain 3,665 square feet of
the Net Rentable Area, together with the Expansion Area which is hereby added as a part
of the Premises, and the Expansion Area shall for all purposes be treated as a part of
the Premises under the Lease, and all terms, conditions, covenants, warranties,
agreements and provisions of the Lease, including the term, shall continue in full
force and effect and shall apply to the Expansion Area except as expressly set forth
herein to the contrary. Effective as of the Expansion Area Commencement Date, Landlord
has leased and rented, by these presents leases and rents to Tenant, and Tenant hereby
leases and takes from Landlord, the Expansion Area. Tenant hereby leases the Expansion
Area on the same terms and conditions as the original Premises except as otherwise set
forth herein to the contrary.
	 
	 	2.	 	From and after the Expansion Area Commencement Date, the Base Rent as defined
in Section 1.01(M) of the Lease for the Extended Term shall be $78,965.00 per annum
($17.00 per square foot per annum of Net Rentable Area of the Premises, including both
the original Premises and the Expansion Area), subject to such increases as may be
provided in the Lease, payable in equal monthly installments of $6,580.42.
	 
	 	3.	 	From and after the Expansion Area Commencement Date, Tenant’s Share, as defined
in Section 1.01(K) of the Lease, for all purposes under the Lease shall be 5.061%.

 

 

	 	4.	 	Notwithstanding anything to the contrary contained or implied in the Lease, as
amended hereby, Tenant agrees that it will accept possession of the Expansion Area in
an “as is, where is” condition during the Term, and that no representations,
warranties, or inducements, with respect to any condition of the Expansion Area have
been made by Landlord, or its designated representatives, to Tenant, or its designated
representatives. In furtherance of the foregoing, Tenant hereby acknowledges that no
promises to decorate, alter, repair or improve the Expansion Area, either before or
after the execution of this First Amendment have been made to Tenant, or its designated
representatives, by Landlord, or its designated representatives. Notwithstanding the
foregoing, Landlord shall grant to Tenant an Improvement Credit in an amount up to
$10.00 per square foot of Net Rentable Area contained in the Expansion Area, pro-rated
based upon the number of full calendar months remaining in the initial Term of the
Lease as of the Expansion Area Commencement Date, toward the cost of improvements to be
performed by Landlord at Tenant’s cost and expense in the Expansion Area (the
“Expansion Area Improvements”). The Expansion Area Improvements shall be constructed
in the Expansion Area pursuant to the terms of Exhibit C to the Lease, as modified by
the foregoing sentence.
	 
	 	5.	 	Tenant acknowledges and agrees that during the construction of the Expansion
Area Improvements Tenant shall be occupying a portion of the Premises, as expanded by
the Expansion Area, and that noise, dust, relocation of Tenant’s property and other
activities associated with such work may be disruptive to the business operations of
Tenant in the Premises. Nevertheless, Tenant hereby waives and releases any and all
claims, causes of action and actions against Landlord and its agents related to the
construction of the Expansion Area Improvements, except for any claim against Landlord
for damage to Tenant’s personal property caused solely by the gross negligence or
willful misconduct of Landlord or its agents, contractors, or employees. Landlord
shall impose upon Contractor a requirement that Contractor agree to use reasonable
efforts to not unreasonably interfere with the conduct of Tenant’s business operations.
No rental shall abate as a result of or arising from the construction work. Tenant
shall, upon notice from Landlord or Contractor, remove or relocate forthwith, at
Tenant’s sole cost and expense, such portion or all of the property belonging to Tenant
from such portion of the Premises then being affected by the construction of the
Expansion Area Improvements as Landlord or Contractor shall reasonably request in
connection with the prosecution of the construction of the Expansion Area Improvements.
	 
	 	6.	 	Landlord and Tenant acknowledge and agree that nothing contained in this First
Amendment to Lease shall affect or modify Tenant’s obligations with respect to the
“Must Take Space” as defined in Rider No. 2 to the Lease. To this end, Landlord and
Tenant agree and confirm that the Must Take Space Commencement Date shall be the
earlier of (i) December 1, 1999, or (ii) the date upon which Tenant first occupies the
Must Take Space or any portion thereof with Landlord’s written consent. On the Must
Take Space Commencement Date, the Premises shall be further expanded to include the
Must Take Space as a part of the Premises, and Tenant’s Share shall be adjusted
accordingly.
	 
	 	7.	 	PRENTISS PROPERTIES LIMITED (“PPL”) HAS ACTED AS AGENT FOR LANDLORD IN THIS
TRANSACTION AND CHET PING REALTY (“CHET PING”) HAS ACTED AS AGENT FOR TENANT IN THIS
TRANSACTION. PPL AND CHET PING ARE TO BE PAID A COMMISSION BY LANDLORD. Tenant
warrants that, other than as set forth in the preceding sentence, there are no claims
for broker’s commissions or finder’s fees in connection with its execution of this
First Amendment. Tenant hereby indemnifies Landlord and holds Landlord harmless from
and against all loss, cost, damage or expense, including, but not limited to,
attorney’s fees and court costs, incurred by Landlord as a result of or in conjunction
with a claim of any real estate agent or broker other than Chet Ping, if made by,
through or under Tenant. Landlord hereby indemnifies Tenant and holds Tenant harmless
from and against all loss, cost, damage or expense, including, but not

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	 	 	 	limited to, attorney’s fees and court costs, incurred by Tenant as a result of or in
conjunction with a claim of any real estate agent or broker, if made by, through or
under Landlord.

	8.	 	Except as modified by this First Amendment, Landlord and Tenant do hereby
ratify and reaffirm each and every provision of the Lease. Without limiting the
generality of the foregoing, Tenant acknowledges and confirms that Landlord’s
obligations under this First Amendment, are subject to any limitations of liability set
forth in the Lease, which provisions are incorporated herein by this reference. The
Lease shall remain full force and effect in accordance with its terms, as modified by
this First Amendment. This First Amendment shall be construed and interpreted under
the laws of the State of Georgia and shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and permitted assigns. All
capitalized terms used (but not defined herein) shall have the same definition and
meaning as ascribed thereto in the Lease. The Lease, together with this First
Amendment, contain the entire agreement of the parties hereto and no representations,
inducements, promises or agreements, oral or otherwise, between the parties not
embodied and incorporated herein by reference shall be of any force or effect. All
capitalized terms used herein but not defined herein shall have the meanings given them
in the Lease. This First Amendment may be executed in multiple counterparts, each of
which shall constitute an original and all of which together shall constitute the same
instrument. This First Amendment may not be amended or modified except by a written
amendment, duly executed and delivered by all of the parties hereto. The submission of
this First Amendment for examination does not constitute an offer to lease and this
First Amendment shall be effective only upon execution hereof by Landlord and Tenant.
The signatories of Tenant represent to Landlord that they are duly authorized to
execute and deliver this First Amendment on behalf of Tenant. Tenant hereby
acknowledges and agrees that, as of the date hereof, the Lease is subject to no
offsets, claims, counterclaims or defenses of any nature whatsoever. Tenant shall
receive no concessions or allowances on account of leasing the Premises during the
Extended Term of the Lease. Time is of the essence hereof.

     IN WITNESS WHEREOF, Landlord and Tenant have caused this First Amendment to be executed by
their respective duly authorized officers, under seal, as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	 	 	LANDLORD:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	PRENTISS PROPERTIES ACQUISITION PARTNERS, L.P. a	 	 
	 	 	Delaware limited partnership	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Prentiss Properties I, Inc., general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ Charles S. Roach, Jr.	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	     Name: Charles S. Roach, Jr.	 	 
	 

	 	 	 	 	 	     Title: Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	     /s/ J. Kevan Dilbeck	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	     Name: J. Kevan Dilbeck	 	 
	 

	 	 	 	 	 	     Title: Senior Vice President	 	 

[Signatures Continued on Following Page]

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	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 
	 	 	ebank.com, inc., a Georgia corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Rich Parlontieri	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	     Name: Rich Parlontieri	 	 
	 

	 	 	 	     Title: Chairman/CEO	 	 
	 
	 	 	 	 	 	 
	 

	 	Attest:
	 	     /s/ Dotty Croker	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	     Name: Dotty Croker	 	 
	 

	 	 	 	     Title: Executive Assistant
	 	 
	 

	 	 	 	[CORPORATE SEAL]	 	 

4EX-10.3 SECOND AMENDMENT TO LEASE AGREEMENT

 

Exhibit 10.3

SECOND AMENDMENT TO LEASE AGREEMENT

(2690 Cumberland Parkway)

     THIS SECOND AMENDMENT TO LEASE AGREEMENT (this “Second Amendment”) is made and entered into as
of the 13 day of April, 2004, by and between CUMBERLAND OFFICE PARK, LLC, a Georgia limited
liability company (“Landlord”), and EBANK.COM, INC., a Georgia corporation (“Tenant”).

WITNESSETH:

     WHEREAS, Prentiss Properties Acquisition Partners, L.P., as the initial landlord, and Tenant
entered into that certain Lease Agreement dated June 30, 1999, as amended by that certain First
Amendment to Lease Agreement dated as of August 18, 1999 (the “First Amendment”) (as so amended,
the “Lease”), with respect to that certain “Premises” (as defined in Section 1.1A of the Lease, as
amended by the First Amendment) composed of approximately 4,645 rentable square feet on the second
(2nd) floor of the building commonly known as Cumberland Office Park, 2690 Cumberland
Parkway, Atlanta, Georgia (the “Building”); and

     WHEREAS, Landlord is the successor-in-interest to all of the right, title and interest of the
“landlord” or “lessor” under the Lease; and

     WHEREAS, Landlord and Tenant desire to extend the Term and otherwise to amend and modify the
Lease as set forth in this Second Amendment.

     NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00), the
foregoing premises and the respective undertakings of the parties, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant
hereby agree as follows:

     1. Defined Terms. Each capitalized term used in this Second Amendment shall have the
meaning ascribed to it in the Lease, unless such term is otherwise defined in this Second
Amendment.

     2. Extension of the Term.

          (a) First Extension Term. In lieu of any extension or renewal rights set forth in the
Lease (it being agreed that any such extension or renewal rights are hereby terminated), the Term
of the Lease is hereby extended to 11:59 p.m. on October 31, 2006 (i.e., twenty-seven (27) months
from the currently scheduled expiration date of July 31, 2004), subject to earlier termination as
provided in the Lease, as amended hereby. Such twenty-seven (27) month extension period commencing
August 1, 2004 (the “First Extension Term Commencement Date”) is herein referred to as the “First
Extension Term”).

          (b) Additional Extension of the Term. So long as this Lease remains in full force and
effect and no default has occurred (provided, however, that Landlord shall have the
right in its sole discretion to waive in writing such “no-default” condition), subject to the final
grammatical paragraph of this subparagraph (b), Tenant may extend the Term for one additional
period of three (3) years (the “Second Extension Term”) by giving written notice thereof to
Landlord so that Landlord actually receives such written notice before 5:00 p.m., Atlanta, Georgia
time on or before the date at least twelve (12) months, but no earlier than fifteen (15) months
prior to the then scheduled expiration of the Term (the “Extension

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Notice Deadline”), provided that no tenant having any expansion rights, rights of first
refusal, or similar rights with respect to any portion of the space then composing the Premises has
elected or agreed to lease or otherwise occupy such space then composing the Premises or any
portion thereof. If Landlord does not actually receive such written extension notice prior to 5:00
p.m., Atlanta, Georgia time on said date, then Tenant shall be deemed to have waived its rights set
forth in this subparagraph (b) and any such rights, and any obligations of Landlord under this
subparagraph, shall automatically terminate and be of no further force or effect. If Landlord does
actually receive such written extension notice prior to 5:00 p.m., Atlanta, Georgia time on said
date, then, subject to the foregoing, the Term shall be extended for the Second Extension Term on
the following terms and conditions:

     (i) The Second Extension Term shall be on the same terms, covenants and conditions as
this Lease (exclusive of tenant improvement allowances, refurbishment allowances, or similar
allowances, rent abatements, and other concessions), except that Base Rent during the first
twelve (12) months of the Second Extension Term shall be an amount equal to the fair market
base rent for the Premises as of the commencement of the Second Extension Term, with annual
fair market escalations in Base Rent during the Second Extension Term (collectively, the
“Fair Market Base Rent”). Landlord and Tenant shall determine and agree upon the Fair
Market Base Rent no later than the date that is thirty (30) days after the Extension Notice
Deadline; if Landlord and Tenant do not determine and agree upon such terms by said date,
the Fair Market Base Rent shall be determined by appraisal pursuant to subparagraph (ii),
below. In no event, however, shall the Base Rent applicable during the Second Extension
Term be less than the Base Rent payable under the Lease immediately prior to the
commencement of the Second Extension Term. Fair Market Base Rent shall be determined giving
consideration to incentives that may be offered to new tenants that will not be provided to
Tenant for the Second Extension Term (e.g., improvement allowances, moving allowances,
rental abatement, current base year) and to the lack of “down time” resulting from the
extension of the Term and continuous occupancy by Tenant as a result thereof.

     (ii) If Landlord and Tenant, and their respective brokers or appraisers, if any, do not
timely agree upon the Fair Market Base Rent by the date that is thirty (30) days after the
Extension Notice Deadline, then such terms shall be determined within an additional thirty
(30) days as set forth in this subparagraph (ii). Within ten (10) days after the date which
is thirty (30) days after the Extension Notice Deadline, Landlord and Tenant (or their
respective brokers or appraisers, if any) shall select an appraiser that has at least five
(5) years full-time commercial appraisal experience and is a member of the American
Institute of Real Estate Appraisers, and each party (or its broker or appraiser, if any)
shall submit its determination of the Fair Market Base Rent to the appraiser so selected.
Such appraiser shall select one of the proposed Fair Market Base Rent proposals as the more
accurate. The determination by said independent appraiser shall be binding upon Landlord
and Tenant. The appraiser fees shall be shared equally by Landlord and Tenant.

Notwithstanding the foregoing, in the event that Tenant elects to extend the Term for the Second
Extension Term, Landlord may, by giving written notice to Tenant on or before the date six (6)
months prior to the expiration date of the commencement of the Second Extension Term, elect to void
Tenant’s election if Landlord then intends to redevelop the Building site (whether by demolition,
renovation, or otherwise), in which event the Term of this Lease shall expire and terminate upon
the expiration of the First Extension Term, subject to earlier termination as provided in this
Lease.

     3. Rent; Base Year.

          (a) Base Rent. Commencing on the First Extension Term Commencement Date, the annual
Base Rent rate for the Premises shall be $16.50 per rentable square foot. On each anniversary of

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said date during the First Extension Term, the annual Base Rent shall increase by an amount
equal to three percent (3%) of the Base Rent applicable during the then expiring twelve-month
period.

          (b) Base Rent Abatement. Base Rent payable for the initial three (3) months of the
First Extension Term shall be abated. Notwithstanding the foregoing, the amount of Rent abated
pursuant to this paragraph shall accrue as an obligation of Tenant to Landlord and shall be payable
if an event of default occurs under the Lease, in which event Tenant shall immediately pay to
Landlord, as Rent, a sum equal to the amount of such abated Rent.

          (c) Base Year. During the First Extension Term, the “Base Year Operating Costs” shall
be the Operating Costs for calendar year 2004.

     4. Condition of Premises; Disclaimer. Tenant hereby acknowledges and agrees that it
has had sufficient opportunity to inspect the Premises and any improvements presently located
therein, and the Premises is being leased to Tenant in its present “AS IS” condition, without
representation, warranty or covenant of or from Landlord. Landlord shall have no obligation to
construct or install any improvements of any kind or character whatsoever in or to the Premises or
to provide any tenant improvement allowance or other allowance. LANDLORD DOES NOT MAKE AND
HEREBY DISCLAIMS, AND TENANT ACKNOWLEDGES THAT LANDLORD HAS NOT MADE AND HAS DISCLAIMED, ANY
REPRESENTATION, WARRANTY OR GUARANTEE, EXPRESS OR IMPLIED, WITH RESPECT TO THE EXPANSION PREMISES,
INCLUDING, WITHOUT LIMITATION, THE PRESENT OR FUTURE MERCHANTABILITY, CONDITION, QUALITY,
DURABILITY, FITNESS OR SUITABILITY THEREOF OR ANY PART THEREOF IN ANY RESPECT OR IN CONNECTION WITH
OR FOR THE PURPOSES AND USES OF TENANT.

Notwithstanding the foregoing, Landlord will, at Landlord’s expense, apply touch up paint and spot
clean the Premises as may be reasonably necessary.

     5. Additional Modifications to the Lease; Miscellaneous Provisions.

          (a) Landlord’s Liability. Without limiting any term or provision of the Lease or this
First Amendment, Tenant hereby acknowledges the limitations on the liability of Landlord and its
partners, shareholders and principals (including, without limitation, members and officers) set
forth in Section 25.5 of the Lease, and Tenant hereby ratifies said Section and acknowledges that
it shall remain in full force and effect in accordance with its terms.

          (b) Substitution Space. During the First Extension Term, Landlord shall not exercise
its right to relocate the Premises to any Substitution Space, as set forth in Article 26 of the
Lease.

          (c) From and after the date hereof, Landlord’s Address for Notice shall be:

Cumberland Office Park, LLC

P. O. Box 201365

Dallas, Texas 75320-1365

Regarding: Tenant Notice

               and Landlord’s Address for Payment shall be:

Cumberland Office Park, LLC

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P. O. Box 201365

Dallas, Texas 75320-1365

Attention: Accounting

     6. Brokers. Landlord and Tenant each represent and warrant to the other that it has
not entered into any agreement with, or otherwise had any dealings with, any broker or agent other
than Pope & Land Enterprises, Inc., as “Landlord’s Broker”, and CTR Partners, LLP, as “Tenant’s
Broker”, in connection with the negotiation or execution of this Second Amendment which could form
the basis of any claim by any such broker or agent for a brokerage fee or commission, finder’s fee,
or any other compensation of any kind or nature in connection herewith. Each party shall, and
hereby agrees to, indemnify and hold the other harmless from all reasonable costs (including court
costs, investigation costs, and reasonable attorneys’ fees), expenses, or liability for commissions
or other compensation claimed by any broker or agent (other than Landlord’s Broker and Tenant’s
Broker) with respect to this Second Amendment which arise out of any agreement or dealings, or
alleged agreement or dealings, between the indemnifying party and any such agent or broker.
Landlord shall pay a commission to Landlord’s Broker and Tenant’s Broker in accordance with a
separate commission agreement. This provision shall survive the expiration or earlier termination
of the Lease.

     7.
Miscellaneous.

          (a) Any number of counterparts of this Second Amendment may be signed and delivered, each of
which shall be considered as original and all of which, together, shall constitute one and the same
instrument. The parties expressly acknowledge and agree that, notwithstanding any statutory or
decisional law to the contrary, the printed product of a facsimile transmittal shall be deemed to
be “written” and a “writing”, and a signature delivered by facsimile shall be as binding upon the
delivering party as an original signature, for all purposes of the Lease and this Second Amendment.

          (b) This Second Amendment shall be construed in accordance with the laws of the State of
Georgia and those laws shall prevail in the event of any conflict of laws.

          (c) TIME IS OF THE ESSENCE HEREOF.

          (d) Other than to the extent expressly modified and amended by this Second Amendment, Landlord
and Tenant hereby ratify the Lease and acknowledge that it shall remain in full force and effect in
accordance with its terms. In the event of any conflict or inconsistency between the terms and
provisions of this Second Amendment and the terms and provisions of the Lease, the terms and
provisions of this Second Amendment shall govern and control.

          (e) This Second Amendment supersedes all prior discussions and agreements by and between
Landlord and Tenant with respect to the matters contained herein, and this Second Amendment
contains the sole and entire understanding between Landlord and Tenant with respect thereto.

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     IN WITNESS WHEREOF, Landlord and Tenant have caused their duly authorized representatives to
execute, seal and deliver this Second Amendment to Lease Agreement, all as of the day and year
first written above.

	 	 	 	 	 
	 	LANDLORD:

CUMBERLAND OFFICE PARK, LLC, a Georgia limited
liability company

By:     P & L C.O.P., LLC, its Manager
	 
	 
	Date executed: 4-13-04 	By:  	/s/ Adams D. Little III
 	(SEAL) 
	 	 	Name:  	Adams D. Little III 	 
	 	 	Title:  	Manager 	 
	 
	 	TENANT:

EBANK.COM, INC., a Georgia corporation

 	 
	Date executed: 4/8/04 	By:  	/s/ David S. Haley
 	 
	 	 	Name:  	David S. Haley 	 
	 	 	Title:  	SVP/CTO/CISO 	 
	 
	 	[CORPORATE SEAL]
 	 

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