Deposit Account Agreement

General Agreement. The terms "You" and "your" refer to the depositor (whether joint or individual) and the terms "we", "us", and "our" refer to the financial institution. You agree that at least one account owner is age 18 or older. You understand that the following Agreement governs your account with us, along with any other documents applicable to your account, including our Funds Availability Policy, Electronic Fund Transfer Agreement and Account Disclosure, which are incorporated herein by reference. You understand that your account is also governed by applicable law.

General rules. The following rules apply to your account:

1. Deposits. Deposits may be made by mail at any time directed to the following address: State Farm Bank, F.S.B., P.O. Box 2316, Bloomington, IL 61702-2316. Deposits cannot be made in person or at any other address, including any office of a State Farm agent. We are not responsible for transactions initiated by mail or left at a State Farm agent's office until we actually receive and record them at the address listed above. You may also authorize us to receive deposits for your Account by the means of electronic funds transfer services, including automatic teller machines (ATMs), subject to the agreement for the use of such services. We may refuse to accept particular checks or similar instruments as a deposit to your account at our discretion. Cash is not accepted except where ATMs are available for such purposes. Cash should not be sent through the U.S. Mail.
   
   
2. Collection of deposited items. In receiving items for deposit or collection, we act only as your agent and assume no responsibility beyond the exercise of ordinary care. All items are credited subject to final settlement in cash or credits. We shall have the right to forward items to correspondents including all Federal Reserve Banks, and we shall not be liable for default or neglect of said correspondents for loss in transit, nor shall any correspondent be liable except for its own negligence. You specifically authorize us or our correspondents to utilize Federal Reserve Banks to handle such items in accordance with provisions of Regulation J (12 CFR Part 210), as revised or amended from time to time by the Federal Reserve Board. In the event we are subject to local clearinghouse rules, You specifically authorize us to handle such items in accordance with the rules and regulations of the clearinghouse.
   
   If we permit You to withdraw funds from your account before final settlement has been made for any deposited item, and final settlement is not made, we have the right to charge your account or obtain a refund from You. In addition, we may charge back any deposited item at any time before final settlement for whatever reason. We shall not be liable for any damages resulting from the exercise of these rights. Except as may be attributable to our lack of good faith or failure to exercise ordinary care, we will not be liable for dishonor resulting from any reversal of credit, return of deposited items, or for any damages resulting from any of those actions.
   
   
3. Withdrawals. Deposits will be available for withdrawal consistent with the terms of our Funds Availability Policy. Withdrawals may be subject to a service charge.
   
   
4. Withdrawal notice requirements. If your account is an interest bearing checking account, savings account, money market account, or certificate of deposit, we have the right to require seven days prior written notice from You of your intent to withdraw any funds from your account.
   
   
5. Setoffs and Indemnity We may setoff funds in your account to pay any debt You may owe us. If the account is held jointly, we may offset funds for the debt of any one of the joint owners. You agree to indemnify us for any amounts which we expend in any action relating to your account. You agree to reimburse us for any transfer made at your direction, in whatever capacity or name, which is subsequently found to have not been proper or authorized.
   
   
6. Garnishments, Levies, and Attachments.  We may use the Funds in your account to satisfy A garnishment, Levy, attachment, or other Legal Notice of any person named on the account. We may waive any objections, including paper service, in responding to such notices.
   
   If your account is restricted by a court order or spendthrift provision, We are not obligated to follow the restriction unless We have agreed to it in writing.
   
   Any expenses arising from attachment, garnishment or levy of your account will be your responsibility. If You would be assessed a penalty, charge or fee for withdrawing funds or closing your account at the time funds are remitted pursuant to an attachment, garnishment or levy of your account, such penalty, charge or fee will be assessed against your account as if You had voluntarily withdrawn the funds or closed your account.
   
   
7. Dormant accounts. You agree that we are relieved of all responsibility if your account balance is escheated in accordance with state law.
   
   
8. Trust, guardianship, conservatorship, estate or custodial accounts. You acknowledge that if your account is set up as a trust, guardianship, conservatorship, estate or custodial account of any kind or nature, it is your sole responsibility to determine the legal effects of opening and maintaining an account of this type. At our request You will provide us with a copy of the trust document or other instrument. By requesting such documentation we undertake no obligation to monitor or enforce the terms of the trust or other instrument. We are not acting as trustee or fiduciary in terms of the account. We are under no obligation to inquire as to your powers to act as trustee, guardian, conservator, administrator, custodian, or in any other fiduciary capacity for any funds held in that manner and bear no liability to any beneficiary or third party should You act outside your authority. Further we may assume that the trust or other instrument is in full force and effect, that You are authorized to act in your stated capacity, and that your actions are in accordance with the provisions of the trust or other instrument. If more than one trustee, guardian, conservator, administrator, custodian or other type of fiduciary is named on the account, each such person is authorized to act individually and we may honor checks, withdrawals, orders or requests from any such person on the account, including requests to close the account, add individuals to the account or re-title the account in the name of any person(s).
   
   
9. Joint account. If your account is a joint account it is your sole responsibility to determine the legal effects of opening an account of this nature. All deposits held in a joint account are the property of the person(s) indicated on the account and we may release all or any part of the amount in the account to honor checks, withdrawals, orders or requests from any person named on the account, including requests to close the account, add individuals to the account or re-title the account in the name of any person(s). Any person named on the account is liable for the amount of any overdraft regardless of whether he or she signed the item or benefited from the proceeds of the item. Upon receiving written notice from any person named on the account, we may freeze the account. The account may be frozen until we receive written notice, signed by all parties named in the account, as to the disposition of funds. We may use the funds to satisfy a debt or judgment of any person named on the account if ordered to do so by a court of law. If this account is noted as a joint account it is a joint account with right of survivorship and, therefore, on the death of one party named on the account all sums in the account vest in and belong to the surviving party(ies) as his or her separate property. We will not recognize any claims of the deceased depositor's estate or any provisions of deceased depositor's will. Payment of funds in the account to the surviving persons on the account shall constitute a full release and discharge of us.
   
   
10. In trust for or payable on death account. If your account is noted as an "In Trust For" or "Payable on Death" account, the trustee, or any one of them if there are multiple trustees, may change the named beneficiary(ies) at any time by written direction to us. The trustee(s) reserves the right to withdraw all or part of the deposit at any time. Such payment or withdrawal shall constitute a revocation of the trust agreement as to the amount withdrawn. The beneficiary (ies) acquires the right to withdraw only if: (i) all of the trustees die, and (ii) the beneficiary (ies) is then living. The beneficiary (ies) is only entitled to the amount that is in the trust after all of the trustee's(s') outstanding checks and debits have been paid. If all of the beneficiaries predecease the trustee(s), the trust shall terminate and title to the money that is credited to the trust shall vest in the trustee as an individual account or joint account with right of survivorship if there are multiple trustees then living. If two or more named beneficiaries survive the death of the trustee(s), such beneficiaries will own the account in equal shares without right of survivorship.
    
    
11. Custodial account. Any custodial account will be maintained subject to the Illinois Uniform Transfers to Minors Act. The account must be opened in the name of a custodian. There may be only one custodian and one minor or beneficiary for each account. The funds held in the account are indefeasibly vested in the minor and are not subject to attachment, garnishment, levy or execution in the name of the custodian.
    
    
12. Power of attorney. If You wish to name another person to act as your attorney in fact or agent in connection with your account, we must approve the form of appointment. On request You will provide us with a copy of the form of appointment. By requesting such documentation we undertake no obligation to monitor or enforce the terms of the form of appointment. Your attorney in fact or agent has full power and authority to take any action with respect to the account that You may take as the depositor. Further we may assume the form of appointment remains in full force and effect unless we receive written notice from You directing otherwise. If more than one attorney in fact or agent is named on the form of appointment, each person on the account including You is authorized to act individually and we may honor checks, withdrawals, orders or requests from any such person on the account, including requests to close the account, add individuals to the account or re-title the account in the name of any person(s).
    
    
13. Corporate, partnership, and other organizational account. You agree to supply us with a separate authorization informing us of the authorized signer(s), if requested to do so, and to provide any other related documents requested by us. We undertake no obligation to monitor or enforce the terms of any documentation You provide us other than the terms of the authorization informing us of the authorized signer(s). Further we may assume that the authorization and other documentation are in full force and effect, that those persons named in the authorization are authorized to act, and that their actions are done on behalf of the corporation, partnership or organization. If more than one person is named on the authorization, each person so named is authorized to act individually and we may honor checks, withdrawals, orders or requests from any such person, including requests to close the account or re-title the account in the name of any person(s).
    
    
14. Fees, service charges, and balance requirements. You agree to pay us and are responsible for any fees, charges, or balance/deposit requirements as provided in the Account Disclosure, as amended from time-to-time.
    
    
15. Amendments and alterations. Notice will be given to You if we change the terms of this Agreement at any time by mailing notice to your address shown on our records, by posting a notice of any such changes at our main office, or by whatever notice requirements that may be authorized or required by law.
    
    Any attempted alteration or modification of this Agreement or the terms and conditions of your account(s) shall not be effective unless and until agreed to in writing by Us.
    
    
16. Closing account. We may close your account at any time, with or without cause, by sending You notice and a check for the balance in our possession to which You may be entitled. At our discretion, We have the authority to pay an otherwise properly payable check or other transaction, which is presented after the closing of your account and You will be responsible for any outstanding balance created by paying such item.
    
    
17. Transfers and assignments. You cannot assign or transfer any interest in your account unless we agree in writing.
    
    
18. Effective applicable laws and regulations. You understand that this Agreement is governed by Federal law and by the laws of the State of Illinois to the extent that Federal law is not controlling. Changes in these laws and regulations may modify the terms and conditions of your account(s). We do not have to notify You of these changes, unless required to do so by law.
    
    
19. Payment of interest. If your account is an interest bearing checking account, interest will be calculated and paid in accordance with the Account Disclosure described in paragraph 26, as amended from time-to-time.
    
    
20. Checks. All negotiable paper (called "checks") presented for deposit must be in a format that can be processed and/or photographed. We may refuse to accept any check that does not meet this requirement. All endorsements placed on the reverse side on any check which You deposit to your account, must be placed so that they are on the left side of the check when looking at it from the front and must be placed so they do not go beyond an area located 1 1/2 inches from the left edge of the check when looking at it from the front. We may refuse to accept any check that does not meet this requirement, and, if we do accept it, You will be completely responsible for any loss incurred by us which is premised on an endorsement not meeting this requirement, including reasonable attorney fees.
    
    You will have the responsibility to make sure at the time You issue any check that the format is such that there will be no writing whatsoever on the reverse side of the check placed beyond an area located 1 1/2 inches from the left edge of the check when looking at it from the front. You will be completely responsible for any loss incurred by us which is premised on your violation of this requirement, including reasonable attorney fees.
    
    
21. Non-sufficient funds. If your account lacks sufficient collected funds to pay a check or preauthorized transfer presented for payment or a withdrawal at an ATM, We may return such check or preauthorized transfer or refuse such withdrawal for non-sufficient funds and if the transaction is processed, We will charge You a fee as provided in the Account Disclosure, as amended from time-to-time.
    
    
22. Stop payments. If You request that We stop payment on a check or transfer which You have written/ authorized, We may request that You supply Us with a written request within 14 days after You make such a request. The Stop Payment request must be provided to Us at a time and in a manner that gives Us a reasonable opportunity to act upon it. Stop Payment requests must precisely identify the check number, date, amount of the item, and payee. Stop Payments will be effective for 12 months or until We receive written notice from You directing otherwise and We have time to act upon such a notice. You will be charged a fee for any Stop Payment You request unless otherwise agreed. You must examine your statements and paid items and give Us prompt notice of payment over a Stop Payment order. If You fail to notify Us within 1 year from receipt of the improperly paid item or the statement containing the debit entry for the item, You will have no claim against Us. We are not liable to You if we pay the identified item as long as We acted in good faith or exercised ordinary care. Any damages that You incur and which We may be liable for are limited to actual damages not to exceed the amount of the check. You also agree that if We return any other item drawn by You due to non-sufficient funds which situation is caused because we have paid an item upon which You had requested a Stop Payment, We will not be liable for such action. You understand that We may accept the Stop Payment request from any of the joint owners of the account regardless of who signed the check or authorized the transfer. A release of the Stop Payment order may be made only by the person who initiated the Stop Payment.
    
    If You request a Stop Payment on a preauthorized transfer, such Stop Payment will be handled in accordance with the provisions of our Electronic Fund Transfer Agreement as amended from time-to-time.
    
    We may refuse to issue a Stop Payment on a check issued by Us or require that You indemnify Us for the amount of the check. Checks issued by Us at your request are not subject to a Stop Payment Request by You for a period of 90 days after the date the check was issued. A request to Stop Payment on a check issued to Us may only be made by the Payee of the Check(s) or the person on whose behalf the Check was issued. Checks issued by Us from a Joint account are not subject to a Stop Payment request from an owner on the account who is not the Payee or the party who requested the Check be issued.
    
    
23. Statements. If your account is a Checking, Interest Checking, Money Market, or Savings account, we will provide You with a periodic statement showing the account activity. If your account is a joint account, the person who receives the statement is the agent for all other persons on the account for purposes of receiving the statement. If You move or change your address We may require that You provide us with written notice of such change. If You fail to notify us of a change in address, You will be deemed to have received any statement mailed to the address listed on the account. You must notify us within 60 days after we mail or otherwise make the statement available to You of any discrepancy(ies) in the statement. We may request that You provide us with an affidavit or other written verification of the discrepancy(ies). If You fail to notify us of a discrepancy(ies) within such time frame or refuse to provide us with an affidavit or other written verification within 14 days of our request, You will have no claim against us. However, if the discrepancy(ies) is the result of an electronic fund transfer, the provisions of our Electronic Fund Transfer Agreement will control its resolution. If You do not receive a statement from us because You have failed to claim it or have supplied us with an incorrect address, we may stop sending your statements until You specifically make written request that we resume sending your statements and You supply us with a proper address.
    
    
24. Check legends, stale, postdated, or overdraft checks. If You can write checks on your account, You agree not to postdate any check drawn on the account or include any check legend (restrictive language)on the check. We may pay any postdated check unless You have given Us written notice to our office mailing address of the postdating with the check number and dollar amount. The notice is effective for 6 months and must be received at such time and manner as to afford us a reasonable opportunity to act on it. We are not liable to You for paying any stale, postdated, overdraft check or any check including any restrictive legend, and You agree to reimburse us for any loss we might suffer as long as we acted in good faith or exercised ordinary care. Any damages that You incur and which we may be liable for are limited to actual damages not to exceed the amount of the check.
    
    
25. Check safekeeping. If You can write checks on your account, checks will not be returned to You nor will images of the checks be included with our monthly statement. You understand that the canceled checks may be retained by us (or retained, stored or recorded in any other manner and by any other party permitted by law) and destroyed after a reasonable time period or as permitted by law. If for any reason we cannot provide You with a copy of a check, our liability will be limited to the lesser of the face amount of the check or the actual damages sustained by You.
    
    
26. Account disclosure. If your account is considered a consumer account, at the time You opened your account, You received an Account Disclosure which provided a schedule of all fees and charges applicable to the account, the interest rate and applicable Annual Percentage Yield, minimum balance requirements, compounding and crediting of interest, and other pertinent information related to the account. The information found in the disclosure may change from time to time. If the fees, charges, minimum balance requirements, or other items change in a manner that would adversely affect You, we will provide You with written notice 30 days prior to the change.
    
    
27. No waiver. You understand and agree that no delay or failure on our part to exercise any right, remedy, power or privilege available to us under this Agreement shall affect or preclude our future exercise of that right, remedy, power, or privilege.
    
    
28. Notice. Any notice to You may be sent to your last known address and shall be effective on the date mailed or the date set forth in the notice (if any). Any notice to us required to be in writing shall be effective upon receipt by us if received during business hours on a business day or the first business day following receipt if received on a Saturday, Sunday, Holiday, or after business hours on a business day.