PEOPLES NATIONAL BANK
BUSINESS EXPRESS SERVICE AGREEMENT
Peoples National Bank will make available to the Company an Internet based cash management system known as Business Express which will enable the Company
to gain access to account balances and other information regarding the Company’s accounts at the Bank, to initiate certain transfers of funds, and to electronically
pay bills. The Business Express Service Disclosure contains procedures and other information relating to this service which is to be followed by both the Company
and Bank. The Customer Enrollment Form and Recurring Wire Transfer Form set forth those accounts of the Company which may be accessed under the terms of
Internal Transfers and Wire Transfers. The Business Express Service Disclosure sets forth the information regarding the effective dates for internal and wire
transfers. In addition, the Company acknowledges and agrees to the following provisions:
Each time the Company initiates an order or request to transfer funds, the Company represents and warrants to the Bank that the balance of collected
funds in the Account is equal to or greater than the amount of the transfer. If an overdraft is created as a result of a transfer request, the Company agrees
to reimburse the Bank for the amount of the overdraft immediately upon request and to pay such charges as may be imposed by the Bank as a result of
the overdraft. The Bank may reject any internal transfer or wire transfer request which exceeds the collected and available funds on deposit in the
applicable account, or would exceed the Companies’ overall daily limit.
The Bank may rely solely on the beneficiary account number in an internal transfer or wire transfer request, and you agree that the Bank has no duty to
detect any inconsistency in identification.
The Bank will act upon an internal transfer or wire transfer request after receipt by making applicable accounting entries or by transmitting payment