October 28, 2010 Re: Extension of Maturity Date

EX-10.1 3 dex101.htm LETTER AGREEMENT BETWEEN GRAYSTONE TOWER BANK AND FIRST CHESTER Letter Agreement between Graystone Tower Bank and First Chester

Exhibit 10.1

October 28, 2010

Re: Extension of Maturity Date

John A. Featherman, III, Chairman, President & CEO

First Chester County Corporation

9 North High Street

West Chester, Pennsylvania 19380

Dear John:

Graystone Tower Bank hereby extends the maturity date of the Promissory Note dated November 20, 2009, as modified by that certain Loan and Note Modification Agreement dated December 28, 2009, made by First Chester County Corporation in the principal amount of $26,000,000 to December 31, 2010.

Except as to the aforesaid extension of the maturity date, all other terms and conditions of the Promissory Note and the other Loan Documents (as such term is defined in that certain Loan Agreement dated as of November 20, 2009, as amended from time to time) shall remain unchanged and in full force and effect.

This letter shall be deemed to constitute an amendment to the Promissory Note and the other Loan Documents.


Very truly yours,

GRAYSTONE TOWER BANK

By:		/s/ Andrew S. Samuel
		Andrew S. Samuel, President & CEO


ACCEPTED AND AGREED: FIRST CHESTER COUNTY CORPORATION

By:		/s/ John A. Featherman, III
		John A. Featherman, III, Chairman, President & Chief Executive Officer