EMBASSY BANCORP, INC. (OTCMKTS:EMYB) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry into a Material Definitive Agreement.
On June 15, 2018, Embassy Bank for the Lehigh Valley (the “Bank”), the principal operating subsidiary of Embassy Bancorp, Inc. (the “Company”), entered into a lease expansion agreement (the “Agreement”) with Red Bird Associates, LLC (“Red Bird”) providing for an expansion of the lease of the Bank’s principal office located at 100 Gateway Drive in Bethlehem, Pennsylvania (the “Lease”) to include an additional 9,299 square feet.The additional space comprises the entire third floor of the building.
TheAgreement provides that the monthly base rentshall be the same as the monthly base rent currently paid by the Bank for the second floor, which is $19.14 per square foot, and is subject to two percent (2%) annual increases.
The foregoing summary of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
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(d) |
Exhibits |
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Exhibit No. |
Description |
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10.1 |
Lease Expansion Agreement dated June 15, 2018. |
Embassy Bancorp, Inc. ExhibitEX-10.1 2 emyb-20180619xex10_1.htm EX-10.1 2018_0615 -Exhibit 101 – Gateway Lease Expansion LEASE EXPANSION AGREEMENT – 2018 THIS LEASE EXPANSION AGREEMENT – 2018 (this “Agreement”) is dated as of June 15,…To view the full exhibit click here
About EMBASSY BANCORP, INC. (OTCMKTS:EMYB)
Embassy Bancorp, Inc. is a bank holding company. The Company’s operating subsidiary is Embassy Bank for the Lehigh Valley (the Bank). The Company acts as an independent community financial services provider, and offers traditional banking and related financial services to individual, business and government customers. The Company offers a range of commercial and retail financial services, including the taking of time, savings and demand deposits; the making of commercial, consumer, residential mortgage and home equity loans, and the providing of other financial services. The Company’s loan portfolio consists of secured fixed-rate and variable-rate loans, with a concentration in commercial-purpose transactions and consumer residential mortgage and home equity loans. The Company’s securities available for sale include the United States Government agency obligations, municipal bonds and the United States Government sponsored enterprise (GSE)-mortgage-backed securities-residential.