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EXHIBIT B
1017 Front Avenue
Columbus, Georgia 31901
February 29, 2000
Ms. Teddie L. Ussery
Group Vice President
Synovus Trust Company
Post Office Box 120
Columbus, Georgia 31902
Re: Extension of Lease of Rights, by Synovus Trust Company, as
Trustee of the 600 Series Trusts, to TB&C Bancshares, Inc.,
dated March 2, 1995
Dear Ms. Ussery:
This is to notify you that pursuant to a resolution of the
Board of Directors of TB&C Bancshares, Inc. ("TB&C"), dated February 29, 2000 (a
copy of which is enclosed), TB&C has elected to extend the term of the Lease of
Rights, dated March 2, 1995 (the "Lease"), by Columbus Bank and Trust Company
(now Synovus Trust Company), as Trustee of the three separate trusts created
under Item VI of the Will of W.C. Bradley, dated June 22, 1945, for the benefit
of Sarah T. Turner, for the benefit of William B. Turner, and for the benefit of
Elizabeth T. Corn (collectively, the "600 Series Trusts"), to TB&C, for an
additional five-year term, that is, from March 2, 2000, to March 2, 2005, in
accordance with section 3 of the Lease.
Under section 4(a) of the Lease, the quarterly lease payments
during the additional five-year period for each of the 13,311,843 leased shares
of stock of Synovus Financial Corp. shall be equal to 0.17% of the closing
per-share price of Synovus Financial Corp. on March 2, 2000, as reported by the
New York Stock Exchange.
Very truly yours,
TB&C BANCSHARES, INC.
/s/ William B. Turner
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William B. Turner
President
Enclosure
cc: Mr. John T. Turner
Ms. Polly C. Miller
Mr. John C. Martin II
Mr. Robert H. Wright, Jr.
Mr. Garilou Page
Mr. Christopher D. Hohlstein
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