Atwal shot a 7-under 63 at the Seaside Course of the Sea Island Resort for a two-day total of 10-under 130.
Atwal birdied his first three holes and suffered only one bogey. He is currently 175th on the tour's money list and needs to climb 50 spots on that list in the two tournaments remaining in order to retain his full exemption on the circuit for 2013.
A victory this week would ensure Atwal a place on the tour for the next two years.
Love, captain of the U.S. Ryder Cup team that lost to Europe last month, shot a 66 Friday. Furyk, a member of that team, had a 65.