Six-Month Financial Lease Agreement for Modular Building between Spectrum Financial Systems, Inc. and Sweetwater Bank & Trust
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Summary
Spectrum Financial Systems, Inc. agrees to lease a 1,288 square foot modular financial building, including equipment, to Sweetwater Bank & Trust for a minimum of six months. Sweetwater will pay an initial delivery and setup fee, monthly lease payments, and is responsible for maintenance, insurance, and return transportation costs (capped at $5,000). The lease automatically renews for 30-day periods unless terminated with 60 days' notice. Spectrum retains ownership of the building and equipment, and Sweetwater must return them in good condition at lease end unless purchased.
EX-10.6 11 g66363ex10-6.txt AGREEMENT 1 EXHIBIT 10.6 SPECTRUM FINANCIAL SYSTEMS, INC. October 18, 2000 Mr. Carle Martin, President Sweetwater B&T L/O P.O. Box 1309 Powder Springs, GA 30127 PROPOSAL - USED MODULAR FINANCIAL BUILDING PURCHASE 1288 SF FACILITY - RECONDITIONED EQUIPMENT MODULAR FINANCIAL BUILDING, with approximately 1288 square feet. The enclosed specification sheet will identify the standard elements of the building construction. This Modular Facility comes complete with: 28' x 48' = 1288 SF TELLER COUNTERS & CHECK DESK DURAWOOD EXTERIOR SIDING 5' - 0" CEILING HEIGHT WITH RECESSED LIGHT FIXTURES HANDICAP APPROVED RESTROOM ADA APPROVED SPECIFICATIONS VINYL COVERED SHEETROCK WALLS COMMERCIAL GRADE CARPET THROUGHOUT, 20 OZ. FLOOR STRUCTURE DESIGNED TO SUPPORT SAFES DUAL 2.0-TON AIR CONDITIONING SYSTEMS EQUIPMENT PACKAGE - NIGHT DEPOSITORY, DRIVE UP WINDOW, METAL UNDERCOUNTER, ALARM, CCTV
NOT INCLUDED: SITE PREPARATION, UTILITY CONNECTIONS, PAVING, SKIRTING, SIGNS, RAMPS, SIDEWALKS, LANDSCAPING, SITE PERMITS, FURNITURE, WALL TREATMENTS, ARCHITECTURAL OR ENGINEERING FEES. SPECTRUM WARRANTS THE BUILDING FOR ONE YEAR. DAVID AMOS REGION MANAGER 2 SPECTRUM FINANCIAL SYSTEMS, INC. October 18, 2000 SIX (6) MONTH FINANCIAL LEASE AGREEMENT By and between: SPECTRUM FINANCIAL SYSTEMS, INC. 163 MCKENZIE ROAD MOORESVILLE, NC 28115 (LESSOR) SWEETWATER BANK & TRUST I/O POWER SPRINGS, GA (LESSEE) 1. LEASE - At the request of the Lessee, SPECTRUM FINANCIAL SYSTEMS agrees to furnish the Modular Building/Equipment listed below for the use of the Lessee, subject to the terms and conditions set forth in this Agreement. Lessee agrees to pay SPECTRUM FINANCIAL SYSTEMS the sum indicated monthly, due and payable (10) days from the date of invoice. The lease of said Building/Equipment shall commence on the date such items are delivered and installed, and shall continue for a minimum of SIX (6) months. 2. MODULAR BUILDING/EQUIPMENT LEASED - 1288 SQ. FT. MODULAR BUILDING TELLER COUNTERS, CHECK DESK, ALARM & CCTV
3. TAXES - The Lessee agrees to pay or reimburse SPECTRUM for payment of any applicable taxes. 4. DELIVERY - Lessor agrees to pay all transportation charges required in delivering items to Lessee. Lessee agrees to pay transportation charges to return items to SPECTRUM, Charlotte, N.C. This cost will not exceed $5,000.00. 3 October 18, 2000 SWEETWATER BANK & TRUST I/O POWDER SPRINGS, GA 5. MAINTENANCE - Lessee will service all leased equipment so as to keep it in operating condition. If the Building or equipment has been subject to accident, negligence, or abuse, the Lessee shall bear the cost of service or repair. For this purpose, service technicians shall have free access to equipment during regular business hours. 6. OWNERSHIP/POSSESSION - It is agreed that SPECTRUM FINANCIAL SYSTEMS is the owner of the Building/Equipment, that possession thereof by Lessee is temporary and for the purpose and subject to the conditions hereof; and that all rights to such possession shall revert to SPECTRUM FINANCIAL SYSTEMS immediately upon termination, breach or default hereof by the Lessee (unless purchased by Lessee). Lessee agrees that it will keep the said items safely, that it will not move any items without written permission from SPECTRUM FINANCIAL SYSTEMS and that upon termination hereof for any cause, it will deliver same to SPECTRUM promptly, in the condition in which received, reasonable effects of use and depreciation excepted. 7. LIABILITY - Lessee agrees to assume all risks of injury to persons or property occasioned by the operation of the Building/Equipment while in the possession of Lessee, its agents and/or servants. Lessee agrees to obtain Liability and Comprehensive insurance consistent with industry standards. 8. USAGE - Unless specifically noted as respects to any equipment. Lessee agrees that it will not use the Building/Equipment in excess of industry standards. 9. DURATION - The term of the Agreement shall be SIX (6) months from the date the building is delivered. Agreement is automatically renewed for additional 30-day periods thereafter until terminated by either party upon sixty (60) days written notice given prior to the termination of any 30 day period. 10. ACCEPTANCE - All agreements are subject to approval by SPECTRUM FINANCIAL SYSTEMS. DATE ----------------------------------- SPECTRUM FINANCIAL SYSTEMS, INC. SWEETWATER BANK & TRUST I/O (LESSEE HEREIN) BY BY ------------------------------------- ----------------------------------- VENNIE A. PENT CARIC MARTIN TITLE TITLE ---------------------------------- -------------------------------- PRESIDENT PRESIDENT 2
