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DEPOSIT ACCOUNT AGREEMENT AND DISCLOSURE Page 3
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<br />become accountable for the item. In addition, you may not stop payment on checks governed by separate agreement, such as a check guaranty
<br />agreement. Further, you may not stop payment on an item after acceptance of the item by us.
<br />Based upon the type of account ownership that you have designated, the following terms and conditions apply.
<br />INDIVIDUAL ACCOUNTS. An Individual Account is an account in the name of one depositor only. Only that person may write checks against the
<br />account or withdraw money, regardless of who actually owns the funds.
<br />MULTIPLE -PARTY ACCOUNTS. This section pertains to multiple party accounts:
<br />(a) Joint Account Ownership. An account with two or more Account Holders is a joint account. Unless you designate otherwise on the Signature
<br />Card, joint Account Holders will be considered joint tenants with right of survivorship.
<br />(1) Joint Tenants With Right of Survivorship. If your Account is a joint account with right of survivorship, upon the death of one of the joint
<br />Account Holders, that person's ownership interest in the Account will immediately pass to the other joint Account Holder(s).
<br />(2) Joint as Tenants In Common. If your Account is a joint account without right of survivorship, upon the death of one of the joint Account
<br />Holders, that person's proportionate ownership interest will pass to the estate of the deceased Account Holder.
<br />Each joint Account Holder, without the consent of any other Account Holder, may, and hereby is authorized by every other joint Account Holder, to
<br />make any transaction permitted under the Agreement, including without limitation, (1) to withdraw all or any part of the account funds, (2) to pledge the
<br />account funds as collateral to us for any obligation, whether that of one or more Account Holders or of a third party, (3) to endorse and deposit checks
<br />and other items payable to any joint Account Holder, (4) to give stop payment orders on any check or item, whether drawn by that Account Holder or
<br />not, and (5) to close the account, with the disbursement of account proceeds as instructed by the joint Account Holder. Each joint Account Holder is
<br />authorized to act for the other Account Holder(s) and we may accept orders and instructions regarding the account from any joint Account Holder. If
<br />we believe there to be a dispute between joint Account Holders or we receive inconsistent instructions from the Account Holders, we may suspend or
<br />close the account, require a court order to act, and/or require that all joint Account Holders agree in writing to any transaction concerning the account.
<br />Your obligations under the Agreement are joint and several. This means that each joint Account Holder is fully and personally obligated under the
<br />terms of the Agreement, including liability for overdrafts and debit balances as set forth above, irrespective of which joint Account Holder benefited from
<br />the withdrawal. If you establish a joint account without the signature of the other joint Account Holder(s), you agree to hold us harmless for our reliance
<br />upon your designation of the other joint Account Holder(s) listed on our documents. Further, the Account is subject to the right of setoff as set forth
<br />below.
<br />(b) Totten Trust Account. A Totten Trust Account is an informal trust account, reflected on our records, but without a written trust agreement, where
<br />the account is owned by the trustee. The beneficiaries have no right to any funds in the account during the trustee's lifetime. As the owner of the
<br />account, the trustee may withdraw money from the account and may, by written direction to us, change the beneficiary under the account. When the
<br />trustee dies, the account is owned by the named beneficiary or beneficiaries. If the Totten Trust Account is held by more than one trustee, the trustees
<br />will be subject to the rules pertaining to joint account ownership as set forth above. If there is no surviving beneficiary upon the death of the last
<br />trustee, state law will determine ownership of the funds in the Account.
<br />(c) P.O.D. Account. A Payable on Death (P.O.D.) Account is an account payable to the Account Holder during his or her lifetime. As the owner of the
<br />account, you may withdraw money from the Account and may, by written direction to us, change the P.O.D. payee(s) under the account. When the
<br />Account Holder dies, the account is owned by the P.O.D. payee(s). If the P.O.D. Account is held by more than one person, each Account Holder will
<br />be subject to the rules pertaining to joint account ownership as set forth above. If there is more than one surviving P.O.D. payee, the respective interest
<br />of each shall be deemed to be in equal shares, unless otherwise stated in the Financial Institution's deposit account records and as allowed by
<br />applicable state law. If there is no surviving P.O.D. payee upon the death of the last owner, state law will determine ownership of the funds in the
<br />Account.
<br />ADDITIONAL ACCOUNT TYPES. This section applies to other deposit account types:
<br />(a) Formal Trust Account. A Formal Trust Account is an account held by one or more trustees for the benefit of one or more beneficiaries according to
<br />a written trust agreement. Upon our request, the trustee(s) will supply to us a copy of any trust agreement covering the account. We act only as
<br />custodian of the trust funds and are under no obligation to act as a trustee or to inquire as to the powers or duties of the trustee(s). The trustee(s)
<br />and/or any person opening the Account, in their individual capacity and jointly and severally, agree to indemnify and hold us harmless from and against
<br />any and all loss, costs, damage, liability, or exposure, including reasonable attorney's fees, we may suffer or incur arising out of any action or claim by
<br />any beneficiary or other trustee with respect to the authority or actions taken by the trustee(s) in handling or dealing with the Account.
<br />(b) Uniform Transfer to Minors. If you have established the account as a custodian for a minor beneficiary under our state version of the Uniform
<br />Transfers to Minors Act or the Uniform Gifts to Minors Act, your rights and duties are governed by the Act. You will not be allowed to pledge the
<br />account as collateral for any loan to you. Deposits in the account will be held by us for the exclusive right and benefit of the minor. The custodian
<br />and/or any person opening the Account, in their individual capacity, agree to indemnify and hold us harmless from and against any and all loss, costs,
<br />damage, liability, or exposure, including reasonable attorney's fees, we may suffer or incur arising out of any action or claim by any beneficiary or other
<br />custodian with respect to the authority or actions taken by the custodian in handling or dealing with the Account.
<br />(c) Agency Account. An Agency Account is an account to which funds may be deposited and withdrawals made by an Agent designated by the
<br />owner of the funds. An Agent has full authority with regard to the account but does not have an ownership interest in the account. An Agency Account
<br />is revocable at any time by notifying us in writing. An Agency designation may be combined with one of the other forms of account ownership.
<br />(d) Business Accounts. If the Account is not owned by a natural person (a corporation, partnership, limited liability company, sole proprietorship,
<br />unincorporated association, etc.), then the Account Holder must provide us with evidence to our satisfaction of the authority of the individuals who sign
<br />the signature card to act on behalf of the Account Holder. On any transactions involving the Account, we may act on the instructions of the person(s)
<br />authorized in the resolutions, banking agreement, or certificate of authority to act on behalf of the Account Holder. You agree to notify us in writing of
<br />any changes in the person(s) authorized or the form of ownership. If we receive conflicting instructions or a dispute arises as to authorization with
<br />regard to the handling of the Account, you agree we may place a hold on the Account until such conflict or dispute is resolved to our satisfaction and
<br />we will not be liable for dishonored items as a result of such hold.
<br />(e) Fiduciary Accounts. With respect to all fiduciary accounts, including but not limited to estate accounts, guardianship accounts, and
<br />conservatorship accounts, and the accounts described in subsections (a) through (c) above, we reserve the right to require such documents and
<br />authorizations as we may deem necessary or appropriate to satisfy that the person(s) requesting or directing the withdrawal of funds held in the
<br />Account have the authority to withdraw such funds. This applies at the time of account opening and at all times thereafter.
<br />ASSIGNABILITY. The account established under this Agreement is not assignable or transferrable except with our consent. We must approve any
<br />pledge of the Account and any such pledge remains subject to any right we have under the Agreement and applicable state and federal law. If
<br />ownership is proposed to be transferred, we may require the Account be closed and a new account opened in the name of the transferee or pledgee.
<br />FINANCIAL INSTITUTION LIABILITY. You agree that if we do not properly complete a transaction according to the Agreement, we will not be liable in
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