Exhibit 10.2
Cross reference to:
Deed Recorded at
Deed Book 2192,
Page 184, Clayton
County, Georgia Records
MEMORANDUM OF LEASE
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M. REA BROOKINGS and DAVID F. HERRING, individual residents of the State of
Georgia (collectively "Lessor"), and CHANCELLOR ASSET MANAGEMENT, INC., a
Delaware corporation ("Lessee"), hereby place on the deed records of Clayton
County, Georgia, the following Memorandum of Lease for the purpose of
memorializing that certain lease agreement dated as January ___, 1999 ("Lease")
between Lessor and Lessee and by this Memorandum of Lease do hereby ratify and
reaffirm that the Lease is in full force and effect as of the date of this
Memorandum of Lease. The terms of the Lease include the following:
Lessor: M. Rea Brookings and David F. Herring
Lessee: Chancellor Asset Management, Inc., a Delaware corporation
Date of Lease: January ___, 1999
Leased Premises: All that tract or parcel of land lying and being in Land
Lot 237 of the 12th District, Clayton County, Georgia, and
Being more particularly described on Exhibit A attached
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hereto and made a part hereof by this reference.
Term: Five (5) years commencing on February 1, 1999 and expiring
on July 31, 2004, with an option in favor of Lessee to
extend the term of the Lease for a five (5) year period
commencing on February 1, 2004 and expiring on January 31,
2009.
Purchase Option: Lessee has the option to purchase the Leased Premises
during the period from January ___, 1999, through and
including July 31, 1999. In the event Lessee does not
exercise its option to purchase the Leased Premises on or
before July 31, 1999, and, if Lessee timely exercises such
Option to Purchase but does not close Lessee's purchase
within sixty (60) days thereafter, the Purchase Option
expressly expires, and Lessee shall have no further right
pursuant to the Purchase Option to purchase the Leased
Premises from Lessor.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of
the ____ day of January, 1999.
LESSOR:
Signed, sealed and delivered
in the presence of:
/s/ M. Rea Brookings (SEAL)
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Unofficial Witness M. REA BROOKINGS
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Notary Public
My Commission Expires
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[Affix Notarial Seal]
Signed, sealed and delivered
in the presence of:
/s/ David F. Herring (SEAL)
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Unofficial Witness DAVID F. HERRING
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Notary Public
My Commission Expires
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[Affix Notarial Seal]
LESSEE:
Signed, sealed and delivered
in the presence of: CHANCELLOR ASSET MANAGEMENT,
INC., a Delaware corporation
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Unofficial Witness
By: /s/ Franklyn E. Churchill
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Title: President
Notary Public ------------------------------
My Commission Expires [CORPORATE SEAL]
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[Affix Notarial Seal]