Letter Agreement Extending Promissory Note Maturity Between Tower Bancorp, Inc. and First Chester County Corporation
Tower Bancorp, Inc. and First Chester County Corporation have agreed to extend the maturity date of a $2,000,000 promissory note from March 4, 2010, to December 31, 2010. All other terms of the original promissory note and related loan documents remain unchanged. This letter serves as an official amendment to the original agreement, and both parties have signed to confirm their acceptance of the new maturity date.
Exhibit 10.2
October 28, 2010
Re: Extension of Maturity Date
John A. Featherman, III, President & CEO
First Chester County Corporation
9 North High Street
West Chester, Pennsylvania 19380
Dear John:
Tower Bancorp, Inc. hereby extends the maturity date of the Promissory Note dated March 4, 2010 made by First Chester County Corporation in the principal amount of $2,000,000 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 March 4, 2010) 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,
TOWER BANCORP, INC. | ||
| 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, President & CEO | ||
