COMMERCIAL LEASE AGREEMENT
THIS LEASE, made this 24th day of January, 2001, by and between OXENDINE FAMILY LIMITED
PARTNERSHIP ("Landlord") whose address is; 1812 Woodberry Road, Charlotte, NC 28212 and WEBB
MORTGAGE ("Tenant") whose address is; 9930 Monroe Road, Suite 102, Matthews, NC 28105.
1. Landlord, for and in consideration of the rents, covenants, agreements, and stipulations hereinafter mentioned
provided for an covenanted to be paid, kept and performed by Tenant, leases and rents unto Tenant, and Tenant
hereby leases and takes upon the terms and conditions which hereinafter appear, the following described
property (hereinafter called the "Premises"), to wit:
Address: 9930 Monroe Road, Suite 102, Matthews, NC 28105 Legal Description:
Suite 102, Containing approximately 807 SF in Building 3 (Single Story) at Sardis Office Park
|X| See attached Exhibit _A__ for SITE PLAN.
2. The Tenant shall have and hold the Premises for a term of Three (3) years__________________________
beginning on the ____1st__ day of ____June, 2001_______, and ending on the _____31st____ day of
_______May, 2004__, at midnight, unless sooner terminated as hereinafter provided. The first Lease Year
anniversary shall be the date twelve (12) calendar months after the first day of the first ful month of the term
hereof and successive Lease Year Anniversaries shall be the date twelve (12) calendar months from the previous
Lease Year Anniversary.
3. Tenant agrees to pay Landlord or its Agent without demand, deduction or set off, an annual rental of
$_11,298.00_ payable in equal monthly installments of $_941.50__ in advance of the first day of each calendar
month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first month's rent
due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated
portion of the monthly rental due. On each Lease Year Anniversary the annual rental