HomeMy Public PortalAbout20160210105738498Date
Opened:
Tax
09/25/15 Term: 24 Month(s) ID: 82-6000223 Number: 2808
Certificate of 1 eposit
Dollar
Amount of
Deposit Two hundred forty thousand & no/100
This Time Deposit is Issued to:
City of McCall, McCall Public Library
216 E Park Street
McCall ID 83638
Not Negotiable - Not Transferable - Additional terms are below.
Issuer:
•
•
Account Number: 2808
IDAHO FIRST BANK
MAIN OFFICE
P O Box 2950
MCCALL, ID 83638
By
$ 240,000.00
Additional Terms and Disclosures
This form contains the terms for your time deposit. It is also the
Truth -in -Savings disclosure for those depositors entitled to one. There
are additional terms and disclosures on page two of this form, some of
which explain or expand on those below. You should keep one copy of
this form
Maturity Date: This account matures 0 9 / 2 5 / 17
(See below for renewal information.)
Rate Information: The interest rate for this account is 1. 05
with an annual percentage yield of 1. 05 %, This rate will be
paid until the maturity date specified above. Interest begins to accrue on
the business day you deposit any noncash item (for example, a check).
Interest will be compounded quarterly
Interest will be credited quarterly
added back to the certificate
The annual percentage yield assumes that interest remains on deposit
until maturity. A withdrawal of interest will reduce earnings.
If you close your account before interest is credited, you will not
receive the accrued interest.
The NUMBER OF ENDORSEMENTS needed for withdrawal or any
other purpose is: 1
Ix
Minimum Balance Requirement: You must make a minimum deposit to
open this account of $
❑ You must maintain this minimum balance on a daily basis to earn the
annual percentage yield disclosed.
500.00
•
Withdrawals of Interest: Interest ■ accrued ❑ credited during a
term can be withdrawn:
Early Withdrawal Penalty: If we consent to a request for a withdrawal
that is otherwise not permitted you may have to pay a penalty. The
penalty will be an amount equal to:
Six Months
Renewal Policy.
❑ Single Maturity If checked, this account will not automatically
renew. Interest ❑ will ❑ will not accrue after maturity.
Automatic Renewal: If checked, this account will automatically
renew on the maturity date. (see page two for terms,)
Interest ❑ will n will not accrue after final maturity.
interest on the amount withdrawn.
ACCOUNT OWNERSHIP: You have requested
and intend the type of account marked below.
n Individual
(and not as tenants
Joint Account - With Survivorship munin comtymonproperty) or com-
Joint Account - No Survivorship (as tenants in common)
n Community Property Account - No Survivorship
❑ Trust Separate Agreement Dated
Vi Public Funds
■
n Revocable Trust or ❑ Pay on Death
Designation as defined m this agreement
(Beneficiaries' names and addresses)
BACKUP WITHHOLDING CERTIFICATIONS
TIN: 82-6000223
Taxpayer I.D Number - The Taxpayer
Identification Number shown above (TIN) is
my correct taxpayer identification number
Backup Withholding - I am not subject
to backup withholding either because I have
not been notified that I am subject to backup
withholding as a result of a failure to report
all mterest or dividends, or the Internal
Revenue Service has notified me that I am no
longer subject to backup withholding.
n Exempt Recipients - I am an exempt
recipient under the Internal Revenue Service
Regulations.
A provision for my signature, certifying
under penalty of perjury the statements
checked in this section and that I am a U.S.
person (including a U S. resident alien), is
contained on the first copy of this
certificate.
ENDORSEMENTS - SIGN ONLY WHEN YOU REQUEST WITHDRAWAL
X
X
Pef ®8 1993 Bankers Systems, Inc., St. Cloud, MN Form CD-AA-LAZ-ID (1) 6/10/2005
X
READ PAGE TWO FOR ADDITIONAL TERMS
(page 1 of 2)
DEFINITIONS: "We," "our," and "us" mean the issuer of this account
and "you" and "your" mean the depositor(s) "Account" means the
original certificate of deposit as well as the deposit it evidences. "Party"
means a person who, by the terms of the account, has a present right,
subject to request, to payment from a multiple -party account.
TRANSFER: "Transfer" means any change in ownership, withdrawal
rights, or survivorship rights, including (but not limited to) any pledge or
assignment of this account as collateral. You cannot transfer this account
without our written consent.
PRIMARY AGREEMENT: You agree to keep your funds with us in this
account until the maturity date. (An automatically renewable account
matures at regular intervals.) You may not transfer this account without
first obtaining our written consent. You must present this certificate when
you request a withdrawal or a transfer.
This account is void if the deposit is made by any method requiring
collection (such as a check) and the deposit is not immediately collected in
full. If the deposit is made or payable in a foreign currency, the amount of
the deposit will be adjusted to reflect final exchange into U.S. dollars.
We may change any term of this agreement: Rules governing changes
in interest rates have been provided. For other changes we will give you
reasonable notice in writing or by any other method permitted by law
If any notice is necessary, you all agree that the notice will be
sufficient if we mail it to the address listed on page one of this form. You
must notify us of any change.
WITHDRAWALS AND TRANSFERS: Only those of you who sign the
permanent signature card may withdraw funds from this account. (In
appropriate cases, a court appointed representative, a beneficiary of a
trust or pay -on -death account whose right of withdrawal has matured, or a
newly appointed and authorized representative of a legal entity may also
withdraw from this account.) The specific number of you who must agree
to any withdrawal is written on page one in the section bearing the title
NUMBER OF ENDORSEMENTS. This means, for example, that if two
of you sign the signature card but only one endorsement is necessary for
withdrawal then either of you may request withdrawal of the entire
account at any tune. Unless otherwise specified in writing only one
endorsement is required to withdraw funds from this account.
These same rules apply to define the names and the number of you
who can request our consent to a transfer.
PLEDGES: Any pledge of this account (to which we have agreed), must
first be satisfied before the rights of any joint account survivor,
pay -on -death beneficiary or trust account beneficiary become effective.
For example, if one joint tenant pledges the account for payment of a debt
and then dies, the surviving joint tenant's rights in this account are subject
first to the payment of the debt.
OWNERSHIP OF ACCOUNT AND BENEFICIARY
DESIGNATION: You intend these rules to apply to this account
depending on the form of ownership and beneficiary designation, if any
specified on page 1. We make no representations as to the appropriateness
or effect of the ownership and beneficiary designations, except as they
determine to whom we pay the account funds.
Individual Account - Such an account is owned by one person.
Joint Account - With Survivorship (And Not As Tenants In
Common or Community Properly) - is an account m the name of two or
more persons. Each of you intend that when you die the balance in the
account (subject to any previous pledge to which we have agreed) will
belong to the survivor(s). If two or more of you survive you will own the
balance in the account as joint tenants with survivorship and not as tenants
in common. If the account is issued to a husband and wife, they intend
that any community property in the account be transmuted (changed) into
separate property and that all property in the account, including earnings,
be held jointly with the right of survivorship. Upon the death of either
spouse the property will vest in and belong to the surviving spouse.
Joint Account - No Survivorship (As Tenants In Common) - Such
an account is owned by two or more persons but none of you intend
(merely by opening this account) to create any right of survivorship in any
other person. We encourage you to agree and tell us in writing of the
percentage of the deposit contributed by each of you. This information
will not, however, affect the "number of endorsements" necessary for
withdrawal.
Community Property Account - No Survivorship - Such an account
is issued to a husband and wife who intend that all of the property in the
account including earnings, be held as community property without right
of survivorship.
Revocable Trust and Pay -on -Death Account (subject to this
agreement) - If two or more of you create such an account, you own the .
account jointly with survivorship. Beneficiaries acquire the right to
withdraw only if: (1) all persons creating the account die, and (2) the
beneficiary is then living. If two or more beneficiaries are named and
survive the death of all persons creating the account, such beneficiaries
will own this account in equal shares, without right of survivorship Any
such beneficiary may withdraw all or any part of the account balance. The
person(s) creating either of these account types reserves the right to: (1)
change beneficiaries; (2) change account types; and (3) withdraw all or
part of the deposit at any time.
Trust Account Subject to Separate Agreement - We will abide by
the terms of any separate agreement which clearly pertains to this account
and which you file with us Any additional consistent terms stated on this
form will also apply.
SET-OFF: You each agree that we may (without prior notice and when
permitted by law) set off the funds in this account against any due and
payable debt owed to us now or in the future, by any of you having the
right of withdrawal. The amount subject to set-off is that proportion to
which you are of immediately prior to your death were beneficially
entitled, and m the absence of proof of net contributions, to an equal share
with all parties having present rights of withdrawal. If the debt arises from
a note ' any due and payable debt" includes the total amount of which we
are entitled to demand payment under the terms of the note at the time we
set off, including any balance the due date for which we properly
accelerate under the note. This right of set-off does not apply to this
account if: (a) it is an Individual Retirement Account or other tax -deferred
retirement account, or (b) the debt is created by a consumer credit
transaction under a credit card plan, or (c) the debtor's right of
withdrawal arises only in a representative capacity. You agree to hold us
harmless from any claim arising as a result of our exercise of our right of
set-off.
BALANCE COMPUTATION METHOD: We use the daily balance
method to calculate the interest on this account This method applies a
daily periodic rate to the principal in the account each day.
TRANSACTION LIMITATIONS: You cannot make additional deposits
to this account during a term (other than credited interest). You cannot
withdraw principal fiom this account without our consent except on or
after maturity. (For accounts that automatically renew, there is a grace
period after each renewal date during which withdrawals are permitted
without penalty.)
In certain circumstances, such as the death or incompetence of an
account owner, the law permits, or in some cases requires the waiver of
the early withdrawal penalty. Other exceptions may also apply, for
example, if this is part of an IRA or other tax -deferred savings plan.
FOR ACCOUNTS THAT AUTOMATICALLY RENEW: Each
renewal term will be 24 Months , beginning on
the maturity date (unless we notify you, in writing, before a maturity date,
of a different term for renewal). calendar
You must notify us in writmg before, or within a 10 day grace
period after, the maturity date if you do not want this account to
automatically renew.
Interest earned during one term that is not withdrawn during or
immediately after that term is added to principal for the renewal term.
The rate for each renewal term will be determined by us on or just
before the renewal date. You may call us on or shortly before the maturity
date and we can tell you what the interest rate will be for the next renewal
term. On accounts with terms of longer than one month we will remind
you in advance of the renewal and tell you when the rate will be known
for the renewal period.
See your plan disclosure if this account is part of an IRA or Keogh.
®® 1993 Bankers Systems, Inc., St. Cloud, MN Form CD-AA-LAZ-ID 6/10/2005
/page 2 of 2/
98
Terms following a g apply only if checked.
Acct: PUB >100 24-35M
Acct #: 2808
Date: September 251 2015
Ix)
The interest rate and annual percentage yield stated below
are accurate as of the date printed above. If you would like more
current rate and yield information please call us at
(208) 634-1000
This disclosure contains the rules which govern your deposit
account. Unless it would be inconsistent to do so, words and
phrases used in this disclosure should be construed so that the
singular includes the plural and the plural includes the singular.
FIXED RATE:
E The interest rate for your account is
an annual percentage yield of 1.05
this rate until first maturity
1.05 % with
%. We will pay
LJ The interest rate and annual percentage yield for your
account depend upon the applicable rate tier. We will pay
these rates
VARIABLE RATE:
❑ The interest rate for your account is
with an annual percentage yield of %.
Your interest rate and annual percentage yield may change.
❑ The interest rate and annual percentage yield for your
account depend upon the applicable rate tier. The interest
rate and annual percentage yield for these tiers may change.
Determination of Rate:
❑ At our discretion, we may change the interest rate on
your account
❑ The interest rate for your account
LJ The fixed initial rate is not determined by this rule.
❑ The Initial interest rate on your account
Subsequent rates
Frequency of Rate Change:
We may change the interest rate on your account
IDAHO FIRST BANK
P O Box 2950
MCCALL, ID 83638
TRUTH IN SAVINGS DISCLOSURE
FOR TIME ACCOUNTS
The interest rate will not be less than
or more than %.
❑ The interest rate will not
the interest rate initially disclosed to you.
COMPOUNDING AND CREDITING:
FR Frequency- Interest will be
compounded quarterly
Interest will be paid quarterly
added back to the certificate
Withdrawal of interest Before Maturity. The annual
percentage yield assumes that interest remains on deposit until
maturity. A withdrawal of interest will reduce earnings:
❑ Required interest Distribution. This account requires the
distribution of interest and does not allow interest to remain in
the account.
FR Effect on Closing an Account. If you close your account
before interest is credited, you will receive
the accrued interest.
MINIMUM BALANCE REQUIREMENTS:
rm To Open the Account. You must deposit at least
$ 500.00 • to open this account.
To Obtain the Annual Percentage Yield Disclosed.
❑ You must maintain a minimum balance of
$ 500.00 in the account each day to obtain
the disclosed annual percentage yield.
❑ You must maintain a minimum average daily balance of
S to obtain the disclosed annual
percentage yield. The average daily balance is calculated by
adding the principal in the account for each day of the period
and dividing that figure by the number of days in the period
The period we use is 365/365
BALANCE COMPUTATION METHOD:
P4 Daily Balance Method. We use the daily balance method to
calculate the interest on your account. This method applies a
daily periodic rate to the principal in the account each day.
❑ Average Daily Balance Method. We use the average daily
balance method to calculate interest on your account. This
method applies a periodic rate to the average daily balance in the
account for the period The average daily balance is calculated
by adding the principal in the account for each day of the period
• and dividing that figure by the number of days in the period.
The period we use is 365/365
ACCRUAL OF INTEREST ON NONCASH DEPOSITS:
•
L Interest begins to accrue no later than the business day we
receive credit for the deposit of noncash items (for example,
• checks).
❑ Interest begins to accrue
•
Your initial interest rate will not change
until maturity
•
We may change the interest rate on your account at that time
and thereafter.
Limitations on Rate Changes:
❑ The interest rate for your account will not
by more than each
Exra® 01992 Bankers Systems, Inc., St. Cloud, MN Form TSD-TIME 6/17/2005
you deposit noncash items (for example, checks).
MATURITY DATE:
Your account will mature on
❑ Your account will mature in
09/25/17
•
LJ We may accelerate the maturity or call this account, at our
option,
!page 1 of 21
•
n Your account has no definite maturity date. To withdraw any
or part of this deposit without penalty, we must receive at least
written notice from
you of your intention to make a withdrawal. The notice must
specify the exact amount and date of the intended withdrawal.
Interest will no longer accrue after the withdrawal date specified
in your notice on the amount specified in your notice. We may
terminate this account by mailing a notice to you of our intention
to terminate at least ten days before the termination date. The
date of intended withdrawal of the last funds in the account, or
the termination date, is considered to be the maturity date.
TIME DEPOSIT WITHDRAWAL LIMITATIONS:
n Principal:
•
Interest:
•
❑ Interest Timing: You can withdraw interest
•
EARLY WITHDRAWAL PENALTY:
A penalty ❑ may n will be imposed for withdrawals before
maturity. The penalty will be an amount equal to:
❑ Seven days' interest on the amount withdrawn if the
withdrawal is made within the first six days after the deposit.
❑ 180 days' interest on the amount withdrawn
❑ 90 days' interest on the amount withdrawn
❑ 30 days' interest on the amount withdrawn
xn 6 mos interest on amt withdrawn
❑ The interest rate we will use to calculate the interest
forfeiture will be:
•
We will charge the penalty first against any interest then in
the account, and any excess will be deducted from the
amount you withdraw.
❑ If you withdraw some of your funds before maturity, the
interest rate for the remaining funds in your account will be
% with an annual percentage yield of
❑ Minimum Balance Accounts, We reserve the right to treat
any withdrawal which would reduce the balance remaining in
the account below the required minimum in'tial deposit or
minimum balance as a withdrawal of the entire account
balance and calculate the amount of the penalty accordingly.
In certain circumstances, such as the death or incompetence of
an account owner, the law permits, or in some cases requires,
the waiver of the early withdrawal penalty. Other exceptions
may also apply, for example if this is part of an IRA or other
tax -deferred savings plan.
ADDITIONS TO ACCOUNT:
❑ You may make no more than deposits
into your account each _
❑ You may only make deposits into your account
U You may make unlimited deposits into your account.
You may not make any deposits into your account until
maturity.
❑ The minimum amount you can deposit is $
❑ The maximum amount you can deposit is $
•
•
RENEWAL POLICY:
❑ Single Maturity: This account will not renew automatically at
maturity. If you do not renew the account,
•
• Automatic Renewal: This account will automatically renew
at maturity.
x
You will have 10 days
after the maturity date to withdraw funds without penalty.
Exceptions to Automatic Renewal: This account will not
renew if you withdraw the funds on the maturity date or if we
receive written notice from you on or before the maturity date of
your intention not to renew.
❑ There is no grace period following the maturity of this
account to withdraw funds without penalty.
RENEWAL TERMS
• Same Term As Original: Each renewal term will be the same
as the original term, beginning on the maturity date
n Different Term: Each renewal term will be
beginning on the maturity date.
RENEWAL INTEREST CALCULATION:
n Same Interest Calculation: Interest will be calculated on the
same basis as during the original term.
Different Interest Calculation: The interest rate will be the
market rate at the time of renewal
•
BONUSES.
❑ You will
as a bonus
❑ You must maintain a minimum
of $
to obtain the bonus,
n To earn the bonus,
•
LJ PRE -MATURITY NOTICE: Your account will mature on
. If the account renews, the new
maturity date will be
n The interest rate for the renewed account will be
% with an annual percentage yield of
%.
❑ The interest rate and annual percentage yield have not
yet been determined. They will be available on
•
Please call to learn the interest
rate and annual percentage yield for your new account.
❑ ADDITIONAL TERMS:
•
Pei ® 01992 Bankers Systems, Inc., St. Cloud, MN Form TSD-TIME 6/17/2005
(page 2 of 21