Addendum to Lease and Loan Agreement between Debter Properties, LLC and Community Bank (June 1, 2000)

Summary

Debter Properties, LLC and Community Bank have agreed to modify their existing Lease and Loan Agreements. Under this addendum, Community Bank will maintain fire, extended coverage, and general liability insurance on the leased property, naming Debter as an additional insured. The Bank will pay insurance-related amounts to Debter, but Debter will reimburse the Bank quarterly for the insurance premiums included in those payments. All other terms of the original agreements remain unchanged.

EX-10.4 7 ex10-4.txt ADDENDUM TO LEASE AGREEMENT, DATED 06/01/00 1 ------------------------------- EXHIBIT 10.4 ADDENDUM TO LEASE AGREEMENT MAY 31, 2000 BY AND BETWEEN DEBTER PROPERTIES, LLC AND COMMUNITY BANK ------------------------------- 2 ADDENDUM TO LEASE AGREEMENT AND LOAN AGREEMENT This Addendum made and entered into on this 1st day of June, 2000 by and between Debter Properties, LLC, an Alabama limited liability company ("Debter") and Community Bank, an Alabama banking corporation ("Bank"). WITNESSETH: WHEREAS, Debter and Bank have entered into a Loan Agreement (the "Loan Agreement") and a Lease Agreement (the "Lease"), each dated June 1, 2000; and WHEREAS, the parties thereto desire to modify such agreements as set forth herein; NOW, THEREFORE, in consideration of the premises the parties hereto agree as follows: 1. Notwithstanding Paragraph 2(d) of the Loan Agreement and Paragraph 7 of the Lease, Bank shall maintain and continue in force throughout the term of the Lease Fire and Extended Coverage Insurance upon the leased premises and General Liability Insurance against any and all claims for injuries to person and property occurring in, upon, about or from the leased premises, which insurance shall name Debter as an additional insured. 2. Bank shall pay to Debter the amounts listed in Paragraph 4, including amounts listed in Paragraph 4(b) of the Lease for insurance, but Debter shall quarterly reimburse Bank the amount of the insurance premium which is included in payments made by Bank under Paragraph 4(b) of the Lease. 3. The provisions of the Loan Agreement and Lease shall remain in full force and effect unchanged except as provided above. IN WITNESS WHEREOF, the parties have caused this Addendum to be executed by their duly authorized representatives as of the day and year first above written. DEBTER PROPERTIES, LLC COMMUNITY BANK By: /s/ Glynn Debter By: /s/ Bishop K. Walker, Jr. ------------------------------ ------------------------------------- Its: Operating Member Its: Senior Executive Vice President ----------------------------- ------------------------------------