Amendment No. 3 to Lease Agreement between The McConnell Foundation and North Valley Bank

Summary

This amendment updates the lease between The McConnell Foundation (landlord) and North Valley Bank (tenant) for property in Redding, California. It expands the leased premises to include additional suites, increasing the total area to about 15,873 square feet. The monthly rent rises to $11,378.28 starting March 1, 2005, with a 3% annual increase each October. Tenant improvements to the new spaces are the tenant's responsibility and must follow landlord-approved plans. All other lease terms remain unchanged unless specifically modified by this amendment.

EX-10.KKK 4 ex10_kkk.txt EXHIBIT 10(KKK) EXHIBIT 10(kkk) AMENDMENT No. 3 This Amendment No. 3 is made effective as of March 1, 2005 by and between THE MCCONNELL FOUNDATION, a California nonprofit corporation, as Landlord, and NORTH VALLEY BANK, as Tenant. 1. Recitals. This Amendment No. 3 is made with reference to the following facts and objectives: a) Landlord and Tenant entered into a written lease dated October 1, 2002, (the "Lease"), in which Landlord leased to Tenant and Tenant leased from Landlord, the Premises located in the City of Redding, County of Shasta, California, commonly known as 1828-1844 Park Marina Drive consisting of 8,660 square feet (the "Premises"). Subsequently, the following Amendments were executed: o On July 24, 2003 Landlord and Tenant executed Amendment No. 1 which served to incorporate suite 1852 Park Marina Drive into Premises for a Total Premises square footage of approximately 10,410, and o On August 1, 2004 Landlord and Tenant executed Amendment No. 2 which served to incorporate suite 1816 and 1820 Park Marina Drive into Premises for a Total Premises square footage of approximately 12,723. 2. Premises. The Premises shall now include 1812 and 1824 Park Marina Drive consisting of approximately 3150 square feet. Total Premises square footage to be approximately 15,873. 3. Fixed Rent. Fixed rent will increase from $9,173.28 per month to $11,378.28 per month commencing March 1, 2005. Sum of Fixed Rent is subject to increase at the rate of 3 %, per year, each year on the 1st day of October, and continuing during the term. 4. Tenant Improvements. 1812 and 1824 Park Marina Drive to be delivered to North Valley Bank in as-is condition. Upon taking possession of 1812 and 1824 Park Marina Drive, any improvement, alterations or additions shall be at the sole cost of Tenant. All alterations, additions or changes to the Premises require the supervision of a competent architect or competent licensed structural engineer and made in accordance with plans and specifications with respect thereto, approved in writing by Landlord prior to the commencement of work. Tenant's contractor shall maintain all insurance reasonably required by Landlord. In no event shall there be any liens placed against the Property by the Tenant's contractor, workman, or material men, without Landlord's prior written consent. Tenant shall submit to Landlord copies of paid invoices, contractor lien releases and permits upon completion. Tenant shall abide by all terms of the Lease pertaining to Tenant Improvements and Alterations. 6. Americans with Disabilities Act. In the event that as a result of Tenant's Improvements, Tenant's use, or intended use, of the Premises the Americans with Disabilities Act or any similar law requires modifications or construction or installation of improvements in or to the Premises and/or Common Areas, the Parties agree that such modifications, construction or improvements shall be made at Tenant's expense. 7. Effectiveness of Lease. Except as set forth in Amendment No. 3, all provisions of the Lease shall remain unchanged and in full force and effect. 8. Conflict of Terms. In the event of any conflict between the provisions of the Lease and this Amendment No. 3, the provisions of this Amendment No. 3 shall prevail. LANDLORD: THE MCCONNELL FOUNDATION, a California non-profit corporation By: /s/ JOHN MANCASOLA Date: 3/30/05 ---------------------------------------- --------------------- John Mancasola, Executive Vice-President TENANT: NORTH VALLEY BANK /s/ JACK RICHTER Date: 3/17/05 - --------------------------------------------- --------------------- Jack Richter, Chief Operations Officer