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CONFIRMATION OF TIME DEPOSIT
<br />Financial Institution: UNION COLONY BANK, Johnstown
<br />100 Johnstown Center Dr., Johnstown, CO 80534
<br />8500269
<br />Account Name: TOWN OF JOHNSTOWN /COLORADO WATER CONSERVATION SSN/TIN: 84- 6000681
<br />BOARD
<br />Account Number
<br />Issue Date
<br />Deposit Amount
<br />Term
<br />Maturity Date
<br />8500269
<br />November 7, 2000
<br />$112,706.97
<br />12 Months
<br />November 7, 2001
<br />Rate Information: This account is an interest bearing account. The interest rate on the account is 6.52% with an annual percentage yield of 6.69 %.
<br />The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect until November 7, 2001.
<br />Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be credited quarterly to your account
<br />#5310466.
<br />Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the
<br />principal in the account each day. We will use an interest accrual basis of 365 (or 366 in leap year) for each day in the year.
<br />Limitations: You must deposit $100,000.00 to open this account. You may not make additional deposits into this account. You may not make
<br />withdrawals from your account until the maturity date.
<br />Time Account Information: Your account will mature on November 7, 2001. If you withdraw any of the principal before the maturity date we may
<br />impose a penalty of one month's interest (360 day basis) on the principal amount of the account. The principal amount does not include interest which
<br />has been accrued or credited prior to maturity. The annual percentage yield assumes interest compounds quarterly and will remain on deposit until
<br />maturity. A withdrawal will reduce earnings. This account will automatically renew. You will have 10 days after the maturity date to withdraw funds
<br />without penalty.
<br />Account Fees: The following fees apply to this account: Research & Balancing: $20.00 per hr + $0.50 per photocopy; and Returned Deposited
<br />Items: $2.00 per item.
<br />Member
<br />i re and Title of Authodz 1 institu' n Signer
<br />NON TRANSFERABLE - NON NEGOTIABLE
<br />FDIC
<br />TIME CERTIFICATE OF DEPOSIT - 12 Mth Jumbo C
<br />br( ertificate of Deposit
<br />We appreciate your decision to open a time certificate of deposit account with us. This Agreement sets forth certain conditions, rates, and rules that are
<br />specific to our Account. Each signer acknowledges that the Account Holder named has placed on deposit with the Financial Institution the Deposit
<br />Amount indicated, and has agreed to keep the funds on deposit until the Maturity Date. As used in this Agreement, the words "you ", "your" or "yours"
<br />mean the Account Holder(s), the word "Account" means this Time Deposit Agreement Account and the word "Agreement" means this Time Certificate of
<br />Deposit Agreement, and the words "we ", "us" and "our" mean the Financial Institution. This Account is effective as of the Issue Date and is valid as of the
<br />date we receive credit for noncash items (such as checks drawn on other financial institutions) deposited to open the Account. Deposits of foreign
<br />currency will be converted to U.S. funds as of the date of deposit and will be reflected as such on our records.
<br />ISSUE DATE. If you open a time certificate of deposit account with us after 5:00 PM on a business day that we are open, we will consider that the
<br />transaction was made at the opening of the next business day for issue date and effective date purposes.
<br />INTEREST RATE. The interest rate is the annual rate of interest paid on the Account which does not reflect compounding ( "Interest Rate "), and is
<br />based upon the interest accrual basis described above.
<br />AUTOMATIC RENEWAL POLICY. If the Account will automatically renew as described above, the principal amount and all paid earned interest that
<br />has not been withdrawn will automatically renew on each Maturity Date for an identical period of time as the original deposit term. Interest on renewed
<br />accounts will be calculated at the interest rate then in effect for time deposits of that Deposit Amount and term. If you wish to withdraw funds from your
<br />Account, you must notify us during the grace period after the Maturity Date.
<br />EARLY WITHDRAWAL PENALTY. You have agreed to keep the funds on deposit until the Maturity Date of your Account. Any withdrawal of all or part
<br />of the funds from your Account prior to maturity may result in an early withdrawal penalty. We will consider requests for early withdrawal and, if granted,
<br />the penalty as specified above will apply.
<br />Minimum Required Penalty. If you withdraw money within six (6) days after the date of deposit, the Minimum Required Penalty is seven (7) days'
<br />simple interest on the withdrawn funds. If partial early withdrawal(s) are permitted, we are required to impose the Minimum Required Penalty on the
<br />amount(s) withdrawn within six (6) dayys after each partial withdrawal. The early withdrawal penalty may be more than the Minimum Required Penalty.
<br />You pay the early withdrawal penalty by forfeiting part of the accrued interest on the Account. If your Account has not earned enough interest, or if the
<br />interest has been paid, we take the difference from the principal amount of your Account.
<br />Exceptions. We may let you withdraw money from your Account before the Maturity Date without an early withdrawal penalty: (1 when one or
<br />more of you dies or is determined legally incompetent by a court or other administrative body of competent jurisdiction; or (2) when the Lcount is an
<br />Individual Retiremont Account (IRA) establised in accordance with 26 USC 408 and the money is paid within seven (7) days after the Account is opened;
<br />or (3) when the Account is a Keogh Plan (Keogh), if you forfeit at least the interest earned on the withdrawn funds; or (4) if the Account is an IRA or a
<br />Keogh Plan established pursuant to 26 USC 408 or 26 USC 401, when you reach age age 59 1/2 or become disabled; or (5) within an applicable grace
<br />period (if any).
<br />RIGHT OF SETOFF. Subject to applicable law, we may exercise our right of setoff or security interest against any and all of your Accounts (except IRA,
<br />Keogh plan and Trust Accounts) without notice, for any liability or debt of any of you, whether joint or individual, whether direct or contingent, whether
<br />now or hereafter existing, and whether arising from overdrafts, endorsements, guarantees, loans, attachments, garnishments, levies, attorneys' fees, or
<br />other obligations. If the account is a joint or multiple -party account, each joint or multiple -party account holder authorizes us to exercise our right of
<br />setoff against any and all Accounts of each account holder.
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<br />TOWN OF JOHNSTOWWCOLORADO WATER
<br />CONSERVATION BOARD
<br />TO: BATE: November 7, 2000
<br />PO BOX 609
<br />JOHNSTOWN, CO 80534
<br />Customer Original
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