HomeMy WebLinkAboutResolution #5359 - changes to existing checking accounts at midamerica national bank for the water/sewer general fund i
RESOLUTION NO. 5359
A RESOLUTION APPROVING CHANGES TO EXISTING CHECKING ACCOUNTS
AT MID-AMERICA NATIONAL BANK FOR THE WATER/SEWER GENERAL FUND
WHEREAS, the City Council of the City of Canton has determined that it is necessary
and in the best interests of the City of Canton to transfer Water/Sewer General Funds to a different
sweep account at Mid-America National Bank.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL
OF THE CITY OF CANTON,ILLINOIS,AS FOLLOWS:
1. That the Deposit Placement Agreement, substantially in the form as attached hereto and
incorporated herein by reference as "Exhibit A," is hereby approved by the Canton City
Council.
2. That the Mayor, City Treasurer and the City Clerk of the City of Canton,Illinois are hereby
authorized and directed to execute said Agreement, and any other necessary agreements to
accomplish the foregoing, on behalf of the City of Canton.
3. That the City Treasurer is authorized to transfer all or a portion of the Water/Sewer General
Funds held at Mid-America National Bank to a new preferred sweep-floating account at
Mid-America National Bank.
4. That this Resolution shall be in full force and effect immediately upon its passage by the
City Council of the City of Canton, Illinois and approval by the Mayor thereof.
PASSED by the City Council of the City of Canton, Illinois at a regular meeting this 15th
day of February, 2022, upon a roll call vote as follows:
AYES: Alderperson Andra Chamberlin, Craig West, Angela Hale, Jeff Fritz, Angela
Lingenfelter
NAYS: NONE
ABSENT: Alderperson Justin Nelson, John Lovell, Greg Gossett
APPROVED:
�,/ t'4 IA'
Kent McDowell, Mayor
AT ST:
Diana Pavley-Rock, City Clerk,
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Customer Profile Form
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Primary Customer Name:' City of Canton
Contact Name(for nonpersonal accounts): Crystal Wilkinson
Customer Class:❑Individual/Joint/Revocable Trust ❑Estate/Irrevocable Trust ❑Corporation/LLC
❑Partnership/Limited Liability Partnership ❑Sole Proprietorship ❑Nonprofit Institution ❑Club or Association
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❑X Public Entity ❑Foreign!Government ❑Savings Bank/Credit Union ❑Other Bank/Financial Institution
Primary Mailing Address: 2 N Main St
City/State/Zip: Canton,IL 61520
Duplicate Statement Address(if applicable):
City/State/Zip:
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Telephone Number: 309-647-i16691 U.S.Citizen:®Yes ❑No
Email Address:cwilkinson@cantoncityhall.org If No,Country of Citizenship:
Type: ❑SSN X❑TIN ❑Non-Resident With SSN/TIN
Primary Owner Tax ID Number: 37-6000876 ❑Non-Resident Without SSN/TIN
❑Individual Tax ID Number
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Primary Owner Other ID(required if no Tax ID):Z Other ID Type:❑Driver's License❑ Passport
(If you do not have a U.S.Tar ID,populate a checkbox to the right.) E]Other
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'For joint accounts,please set up sepI arate customer profiles for both the primary and secondary owners.
2I you do not have a U.S.Tax[D,you must use this same alternate ID for all transactions with all institutions.If you subsequently obtain a U.S.Tax ID,you must
promptly inform us and other institutions so that your correct information can be recorded for tax reporting,document tracking,and FDIC insurance purposes.
Customer Exclusions:
There is no need to exclude institutions that currently hold your funds through IntraFi Network Deposits.Providing the same
Tax ID for each of your accounts will enable the location of your current placement(s)to be recognized.These institutions will
automatically be excluded fromuture placements.
Bank: TRN: City,State:
Wells Faro Bank 071101307 Canton,IL
Bank of Farmington 071105882 Canton,IL
Ipava State Bank 071113748 Canton,IL
Signatures:
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Custome Signature Dae stitution Signatu Date
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Last Updated 3/16/21
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IntraFi
Network Deposits' dMr,U,product,
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lntraFi Network Deposits DDA-MMDA
Deposit Placement Agreement
You, the undersigned, enter into this IntraFi Network Deposits DDA-MMDA Deposit Placement Agreement
("Agreement')with the followii g financial institution("we"or"us"):
j MidAmerica National Bank
This Agreement states the terms and conditions on (d) The Bank of New York Mellon("BNY Mellon")
which we will endeavor to place deposits for you at other provides services that support deposit placement
financial institutions through the DDA-MMDA Option of through the DDA-MMDA Option. BNY Mellon's services
IntraFill Network Depositssm'� IntraFi Network Deposits include acting as our sub-custodian and settlement
is a product of IntraFi Network LLC ("IntraFf) that agent.
encompasses services for placing deposits at
depository institutions. j (e) You must be capable of using,and you agree
to use, the Depositor Control Panel ("DCF"), an online
This Agreement is an amended version of the ICS tool,to review provisional allocations of deposits and for
Deposit Placement Agreement("ICS DPA"). The DDA- other purposes. You also agree to receive notices that
MMDA Option of IntraFi Network Deposits ("DDA- may be posted on the DCP or sent to you by email.
MMDA Option") is the deposit placement functionality
formerly known as part of ICS®, the Insured Cash 1.2. Deposit Accounts
Sweeps service. IntraFi is the entity formerly known as
(a) Deposits that we place for you in Deposit
Promontory Interfinancial Network,LLC.
Accounts will be"deposits,"as defined by federal law,at
During a branding transition period, you may see the Destination Institutions.
references to ICS on statements or other documents. (b) Each Deposit Account, including the principal
These references are to the DDA-MMDA Option of
IntraFi Network Deposits. j balance and the accrued interest, will be a deposit
obligation solely of the Destination Institution at which it
1. Deposit Placement is held. It will not be a deposit obligation of us or of
IntraFi,BNY Mellon,or any other person or entity.
1.1. IntraFi Network Deposits DDA-MMDA Option
I 2. Your Relationship With Us
(a) Schedule 1 describes the procedure by which
we will place deposits for you through the DDA-MMDA 2.1. Agency and Custodial Relationship
Option. Schedule 2 includes descriptions of the (a) We will act as your agent in placing deposits
account type and placement feature that we will use. for you through the DDA-MMDA Option. Under a
(b) Each depository institution at which we place separate agreement with you that grants us custodial
deposits for you through the DDA-MMDA Option powers("Custodial Agreement'),we will also act as your
("Destination Institution") will I be one at which deposit custodian for the Deposit Accounts.
accounts are insured by the Federal Deposit Insurance (b) Each Deposit Account will be recorded (i) on
Corporation("FDIC')up to the FDIC standard maximum the records of the.Destination Institution in the name of
deposit insurance amount("SMDIA")of$250,000. BNY Mellon,as our sub-custodian,(ii)on the records of
(c) Subject to the terms and conditions of this BNY Mellon in our name,as your custodian,and(iii)on
Agreement, when we place deposits in a deposit our records in your name. The recording will occur in a
account at a Destination Institution for your funds placed manner that permits the Deposit Account to be FDIC-
through the DDA-MMDA Option ("Deposit Account'), insured to the same extent as if it were recorded on the
the amount of our outstanding placements for you at the records of Destination Institution in your name.
Destination Institution through the DDA-MMDA Option (c) For purposes of Article 8 of the Uniform
and through the CD Option of IntraFi Network Deposits, Commercial Code, we will act as your securities
which is the deposit placement functionality formerly intermediary for, and will treat as financial assets, the
known as part of CDARS , the Certificate of Deposit
Account Registry Service®,will not exceed$250,000. Deposit Accounts and all your security entitlements and
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Network Deposits' deposit pmdults
other related interests and aissets with respect to the Identifier your federal taxpayer identification number
Deposit Accounts, and we will treat you as entitled to ("TIAP),unless you do not have a TIN,in which case you
exercise the rights that constitute the Deposit Accounts. will enter an alternate identifier that we approve.
(d) All interests that we hold for the Deposit (c) If you use an alternate identifier,you must use
Accounts will be held by us only as your securities the same alternate identifier.for all placements of
intermediary and will not be our property. You will be deposits for you, by us or by any other financial
the owner of the funds in the Deposit Accounts and any institution, through the DDA-MMDA Option or through
interest on those funds. the CD Option of IntraFi Network Deposits. If you later
obtain a TIN, you must promptly report it to us and to
2.2. Termination of Custodial Relationship any such other institutions, and we may use it as your
(a) Either you or we may terminate the custodial Depositor Identifier.
relationship between you andl us at any time. You may 3.2. Interest Rate
not transfer the Deposit Accounts to another custodian,
but you may dismiss us as your custodian for a Deposit (a) The interest rate for the Deposit Accounts at
Account and request that it be recorded on the records Destination Institutions on any day will be the then-
of the Destination Institution in your name. current rate that we specify, which may be any rate
(including zero) and which we may modify at any time
(b) We will endeavor to cause any request from ("Interest Rate"). Through your continued participation
you pursuant to Section 2.2(a)to be promptly forwarded in the DDA-MMDA Option, you accept each applicable
to the Destination Institution. Each Destination Interest Rate.
Institution has agreed that it will promptly fulfill any such
request, subject to its customer identification policies (b) If we permit you to have more than one
and other account opening terms and conditions. Custodial Account, we may specify a different Interest
I Rate for each Custodial Account.
(c) If a Deposit Account has been recorded on the
records of a Destination Institution in your name (c) Payment of the full amount of all accrued
pursuant to this Section 2, you will be able to enforce interest on a Deposit Account at a Destination Institution
your rights in the Deposit Account directly against the will be solely the responsibility of the Destination
Destination Institution, but we will no longer have any Institution. Neither we nor any other person or entity will
custodial responsibility for it and you will not be able to be indebted to you for such payment.
enforce any rights against the Destination Institution
through us. 4. Placement Procedures
(d) If we were to become insolvent, our receiver 4.1. Account Type, DDA-MMDA Option Settlement,
or other successor in interest,could transfer custody of and Statements
the Deposit Accounts, and our rights and obligations
under this Agreement,to a new custodian. Alternatively, (a) Settlement of payments to and from
you could exercise your right to have the Deposit participating institutions in the DDA-MMDA Option
Accounts recorded on the records of the Destination through BNY Mellon that includes the type of deposits
Institutions in your name puri Iuant to this Section 2. we place for you("DDA-MMDA Option Settlement")will
occur each day that is not a Saturday, a Sunday, or
3. Custodial Account and Interest Rate another day on which banks in New York,New York,are
authorized or required by law or regulation to close
3.1. Custodial Account ("Business Day').
(a) As your custodian, we will open on our (b) You may confirm through the DCP (i) the
records, either directly or with the assistance of BNY aggregate principal balance in the Deposit Accounts
Mellon, a custodial account in which we will hold your ("Program Balance") and (ii) the principal balance and
interests in the Deposit Accounts("Custodial Account'). accrued interest at each Destination Institution as of the
We may permit you to have multiple Custodial Accounts. preceding Business Day or, after DDA-MMDA Option
Settlement-related processing,as of that Business Day.
(b) On the signature page of this Agreement,you
will enter a unique alphanumeric identifier for you (c) We will provide you with periodic account
("Depositor Identifier'),which will be associated with the statements that include,as of the end of the statement
Custodial Account. You will enter as your Depositor period,your Program Balance,your principal balance at
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each Destination Institution, the total interest you have Day Deposit Cutoff Time will be a Triggering Event for a
earned on the Deposit Accounts during the period,and Same-Day Program Deposit.
the rate of return you have earned on the daily average
closing principal balance fol the period ("Statement (c) We may impose a maximum Program
Period Yield'). Balance amount for deposits that we place for you
A through the DDA-MMDA Option and will inform you of
(d) The account information available on the DCP any such amount we impose. Even if a Triggering Event
as described in Section 4.1(b), and the periodic for a Program Deposit occurs, we may choose not to
statements described in Section 4.1(c),will be the only transfer the amount to the Deposit Accounts if it would
evidence that you receive of your ownership of the cause the Program Balance to exceed the maximum. In
funds. You should retain the'account statements. addition,we may choose not to transfer to the Deposit
Accounts an amount that we have credited to the Root
4.2. Triggering Events i Account,but have not yet collected from a third party.
(a) Schedule 1 sets forth events for triggering a 4.4. Program Withdrawals
transfer of funds from a root account with us that
contains your funds ("Root Account") to the Deposit (a) Subject to the terms and conditions of this
Accounts at DDA-MMDA Option Settlement ("Program Agreement,and except as provided in Section 4.4(b), a
Deposit') or a transfer of jfunds from the Deposit Triggering Event for a Program Withdrawal will result in
Accounts to the Root Account at DDA-MMDA Option a transfer of funds from the Deposit Accounts at DDA-
Settlement("Program Withdrawal). MMDA Option Settlement the next Business Day
("Regular Program Withdrawal).
(b) An event for triggering a Program Depositor a
Program Withdrawal ("Triggering Event) will be any (b) Schedule 1 states whether the transfer of
such event described in Schedule 1. funds from your Deposit Accounts at DDA-MMDA
Option Settlement on the same Business Day("Same-
(c) If you signed a previous version of this Day Program Withdrawal") is available and, if so, the
Agreement identified as an ICS DPA and became a cutoff time for you to request a Same-Day Program
party to this amended version of the Agreement after Withdrawal ("Same-Day Withdrawal Cutoff Time"). If
you were given notice of amendment, the content of Section 1 so states, a request that we receive and
Schedule 1 to this Agreement is the same as the content accept before the Same-Day Withdrawal Cutoff Time
of Schedule 1 to the version you signed, subject to the will be a Triggering Event for a Same-Day Program
following changes: Withdrawal.
(i) "ICS" is changed to "the DDA-MMDA 4.5. Withdrawal Advances;Security Interest
Option of IntraFi Network Deposits."
(a) If Schedule 1 states that we will advance
(ii) "Transaction Account," if it appears, is funds to you in anticipation of a Program Withdrawal,or
changed to"Root Accounti" if we otherwise decide in our discretion to advance funds
to you in anticipation of a Program Withdrawal,you will
4.3. Program Deposits owe the amount of these funds to us and we will retain
from the funds we receive at DDA-MMDA Option
(a) Subject to the terms and conditions of this Settlement the amount we have advanced to you.
Agreement,and except as provided in Section 4.3(b),a
Triggering Event for a Program Deposit will result in a (b) With respect to any amount that you owe to us
transfer of funds to the Deposit Accounts at DDA-MMDA pursuant to Section 4.5(a):
Option Settlement the next Business Day ("Regular
Program Deposit"). (i) you grant us, and acknowledge that we
have,a security interest in,and a lien on,the Deposit
(b) Schedule 1 states whether a transfer of funds Accounts, related security entitlements, and other
to the Deposit Accounts at DDA-MMDA Option related interests and assets that we may hold for you
Settlement on the same Business Day ("Same-Day
Program Deposit")is available and,if so,the cutoff time as custodian and securities intermediary pursuant to
the Custodial Agreement for the amount that you
for you to request a Same-Day Program Deposit owe to us,
("Same-Day Deposit Cutoff Time'). If so stated, a
request that we receive and laccept before the Same-
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(ii) if a Destination' Institution fails before a (ii) If the version you signed provided that we
Program Withdrawal is completed,we may retain the would place deposits for you in MMDAs,Section 1 of
amount of the Program Withdrawal from the Schedule 2 is deemed to state: "We will place
proceeds of your FDIC insurance claim to satisfy the deposits for you in MMDAs"
amount that you owe to us,and
(iii) If the version you signed provided that we
(iii) to the extent that the amount that you owe might place deposits for you in DDAs or MMDAs,
to us is not satisfied from the interests and assets we i Section 1 of Schedule 2 is deemed to state: "We
are holding for you pursuant to the Custodial may place deposits for you in DDAs or MMDAs."
Agreement, or from they proceeds of any FDIC
insurance claim,the amou it remains owed by you to (d) Section 1 of Schedule 2 also provides, if
us and is payable on demand. MMDAs will or may be used,(i)that an MMDA Program
Withdrawal limit of six per month applies or(ii)that no
(c) If,in a separate agreement,you have granted MMDA Program Withdrawal limit applies.
us a security interest in the Deposit Accounts or in any
security entitlements or other interests or assets relating (e) If you signed a previous version of this
to the Deposit Accounts as collateral for a loan to you or I Agreement identified as an ICS DPA and became a
otherwise, we may decline to honor a request for a party to this amended version of the Agreement as a
Program Withdrawal, or decline to honor a debit !result of having been given notice of amendment,and if
transaction in the Root Account that would trigger a the version you provided that MMDAs would or might be
Program Withdrawal or bel funded by a Program used,the following applies:
Withdrawal,to the extent the Program Withdrawal would
cause your Program Balance to fall below the loan (i) If the version you signed provided that an
amount or other amount that you have agreed to MMDA Program Withdrawal limit would apply and we
maintain in the Deposit Accounts or to which the security have not informed you that we will not enforce such
interest applies. If, in a separate agreement, you have a limit, Section 1 of Schedule 2 is deemed to state,
granted us a security interest in the Root Account, we in addition to the statement given in Section 4.6(c),
also may decline to honor 'transactions in the Root "You may use up to six MMDA Program Withdrawals
Account in accordance with the separate agreement. per month."
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4.6. Account Type and Withdrawal Limit, If Any (ii) If the version you signed provided that an
MMDA Program Withdrawal limit would not apply or
(a) Deposits that we place for you through the we have informed you that we will not enforce such
DDA-MMDA Option at a Destination Institution will be a limit, Section 1 of Schedule 2 is deemed to state,
placed in a Deposit Account that is a demand deposit in addition to the statement given in Section 4.6(c),
account("DDA")or a Deposit Account that is a money "No MMDA Program Withdrawal limit applies."
market deposit account ("MMDA"), as provided in
Section 1 of Schedule 2. (f) If a Program Withdrawal limit applies and you
exceed the six permitted Program Withdrawals from
(b) Section 1 of Schedule 2 provides (i) that we MMDAs in a month:
will place deposits for you in DDAs,(ii)that we will place (i) We may (A) transfer all the remaining
deposits for you in MMDAs, or (iii) that we may place
deposits for you in DDAs or MMDAs. funds in the MMDAs to the Root Account associated
with the Custodial Account for the MMDAs or(B), if
(c) If you signed a previous version of this ! you also have a Custodial Account for DDA deposits,
Agreement identified as an ICS DPA and became a transfer all the remaining funds in the MMDAs to the
party to this amended version of the Agreement as a Custodial Account for DDA deposits.
result of having been given notice of amendment, the
following applies: (ii) In subsequent months we may effect either
such transfer at the time of your sixth Program
(i) If the version you signed provided that we Withdrawal.
would place deposits for you in DDAs, Section 1 of
Schedule 2 is deemed to state: "We will place (g) If you exceed the six permitted Program
deposits for you in DDAs."j
,Withdrawals from MMDAs in multiple months, we may
I also make the Custodial Account for the MMDAs
jI ineligible for Program Deposits.
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5. Placement Feature 5.2. Placement Feature and Rate
5.1. Reciprocal and One-Way (a) Interest on the Deposit Accounts will be
earned at the specified Interest Rate regardless of
(a) If we are an FDIC-insured depository whether the Reciprocal Feature or the One-Way
institution,we are eligible to use a feature of the DDA- Feature is used.
MMDA Option in which, when we place deposits, we
receive matching deposits placed by other participating (b) When the Reciprocal Feature is used,the fee
institutions in the DDA-MMDA,Option and may pay a fee paid to IntraFi may affect rate determination. When the
to IntraFi("Reciprocal Feature"). One-Way Feature is used, fees paid by Destination
� Institutions, or cost-of-funds rates for Destination
(b) Whether or not we are eligible to use the Institutions, may affect rate determination.
Reciprocal Feature, we are eligible to use a feature of
the DDA-MMDA Option in I which, when we place (c) If we are eligible to use the Reciprocal
deposits,we do not receive matching deposits, but we Feature, and you authorize us to use either the
and IntraFi may receive 1 fees from Destination Reciprocal Feature or the One-Way Feature, we may
Institutions("One-Way Feature"). use a feature with greater benefits to you,to us,or both.
(c) Section 2 of Schedlule 2 provides (i) that we 5.3. Placement Requirements
may use either the Reciprocal Feature or the One-Way
Feature,(ii)that we will use only the Reciprocal Feature, (a) Under the laws of some states,governmental
or(iii)that we will use only the One-Way Feature. units may submit deposits for placement through a
deposit placement network only if the placing institution
(d) If you signed a previous version of this is located in the state and receives matching deposits of
Agreement identified as an ICS DPA and became a an equal maturity,if any,and an equal amount.
party to this amended version of the Agreement as a
result of having been given notice of amendment, the (b) If you are a state governmental unit, or if you
following applies: are otherwise subject to restrictions on the placement of
deposits for you, you are responsible for determining
(i) Section 2 of Schedule 2 is deemed to whether deposit placement in accordance with this
provide that we may use either the Reciprocal Agreement satisfies any applicable restrictions.
Feature or the One-Way Feature if(A)Schedule 4 to
the version that you signed contained two check 6. Daily Allocation and Depositor Control
boxes, one stating that we might use either ICS
Reciprocal or ICS One-Way and the other stating 6.1. Daily Allocation;Review and Consent
that we would use only ICS Reciprocal, and (B)the (a) The DDA-MMDA Option process for allocating
box stating that we might use either ICS Reciprocal Program Deposits, Program Withdrawals, and funds
or ICS One-Way was checked. already on deposit reflects various considerations,
(ii) Section 2 of Schedule 2 is deemed to including the need for certain Destination Institutions to
provide that we will use only the Reciprocal Feature receive deposits in amounts that they have.placed for
if (A) Schedule 4 to thel version that you signed their own customers and possible limits on the amounts
contained two check boxes, one stating that we that an institution is authorized to place or a Destination
might use either ICS Reciprocal or ICS One-Way Institution has agreed to receive. Applicable deposit
and the other stating that we would use only ICS amounts may change from day to day. Accordingly,the
Reciprocal,and(B)the box stating that we would use allocation of funds takes place each Business Day.
only ICS Reciprocal was checked. (b) The set of Destination Institutions to which
(iii) Section 2 of Schedule 2 is deemed to your funds on deposit are allocated on a Business Day,
provide that we will use only the One-Way Feature if and the amount allocated to each Destination Institution,
Schedule 4 to the version that you signed contained may differ from a previous Business Day's allocation. A
no check boxes regarding the use of ICS Reciprocal different allocation may involve the movement of funds
or ICS One-Way. from one Destination Institution to another Destination
Institution, even though you do not have a Program
Deposit or a Program Withdrawal. Such movements of
funds will not affect the Interest Rate.
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(c) You exercise control over the allocation of must obtain and maintain all equipment and services
your funds through direct contact with us and through necessary for access to the DCP.
the DCP. You are responsible for reviewing the
important information we provide you through the DCP, (c) To access the DCP, you will be required to
including information regarding proposed allocations enter your login credentials. Your initial user name will
that we provide each Business Day. In addition, on be the account number for the Root Account or such
request at any time,we will provide you with a list of all other user name as we specify. Your initial password
Destination Institutions. I will be the last four characters of the Depositor Identifier
entered for the sole or primary Depositor on the
(d) Although we will not allocate your funds to signature page of this Agreement.
Destination Institutions that you exclude or reject as set
forth below,you authorize and consent to the allocation (d) You will also be required to enter the email
of your funds at Destination Institutions that you address you have provided to us. We will separately
approve,or do not exclude orlreject,as set forth below. advise you of any additional steps required of you by
security controls.
6.2. Destination Institution Exclusions
6.4. Depositor Placement Review
(a) You may enter thei name of any depository
institution on a list of exclusions from eligibility to receive (a) Each Business Day,your aggregate principal
deposits we place for you through the DDA-MMDA balance that will be in Deposit Accounts after that day's
Option("Exclusions List'). DDA-MMDA Option Settlement will be provisionally
allocated to Destination Institutions. The amount
(b) We may ask you to provide your initial allocated will reflect your Program Balance as of the last
Exclusions List by entering exclusions in Section 3(c)of DDA-MMDA Option Settlement, plus any Program
Schedule 2 or by giving us notice of your Exclusions List Deposit that will occur at the day's DDA-MMDA Option
in another manner we specify". Settlement, minus any Program Withdrawal that will
occur at the day's DDA-MMDA Option Settlement. The
(c) If you signed a previous version of this allocation may provide that previously-deposited funds
Agreement identified as an ICS DPA and became a will be removed from a Destination Institution and
party to this amended version of the Agreement as a deposited in another Destination Institution.
result of having been given notice of amendment,your
Exclusions List will include any depository institutions (b) After the provisional allocation occurs on a
you included in your List of Exclusions in the ICS DPA Business Day, but before allocation becomes final at
unless you have subsequently removed them. DDA-MMDA Option Settlement, Depositor Placement
Review("DPR")will occur through the DCP. Even if a
(d) An Exclusions List will be effective within one Destination Institution is not on your Exclusions List,the
Business Day after the first Business Day on which we final allocation that day will not allocate your funds to the
have received the Exclusionsl,List from you. Destination Institution if you reject it during DPR through
the DCP. Your rejection of a Destination Institution will
(e) You may add to� or subtract from your be effective only if you submit it before DPR ends.
Exclusions List by giving us notice in a manner we
specify. If you add an exclusion in this manner,the new (c) The DPR period each Business Day will be as
exclusion will be effective within one Business Day after follows: 3:00 PM to 3:15 PM Eastern time. Daylight
the first Business Day on which we have received the Saving Time applies when nationally in effect. We may
notice from you. change the DPR period by posting notice on the DCP in
6.3. Depositor Control Panel advance of the change.
(d) In DPR, you will see a list of Destination
(a) IntraFi will assist us in providing the DCP. The Institutions to which your funds are proposed to be
address of the Depositor Control Panel is allocated at DDA-MMDA Option Settlement later that
https://www.depositorcontrol.com. day ("Proposed Placement List'), reflecting the
(b) You represent thatyou have a computer with provisional allocation of all your funds, including funds
Internet access, an a-mail' address, the ability to that will be moved from one Destination Institution to
l another Destination Institution. The Proposed
download and print information from the DCP, and the placement List will include the principal balance
knowledge and experience to fuse an online tool for DCP
functionality. In addition, you acknowledge that you allocated to each Destination Institution. If you review
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Network Deposits do,,,-osit pwducs
the Proposed Placement List,'and you click the approval 7. FDIC Insurance Considerations
button or you do not reject any of the Destination
Institutions on the list, you will be approving the 7.1. Deposit Insurance Coverage
allocation and your funds will be allocated in accordance
with the list. (a) You may obtain information about FDIC
deposit insurance coverage by visiting the FDIC website
(e) If you reject any of the Destination Institutions at www.fdic.gov or by contacting the FDIC by letter,
on the Proposed Placement List, you will be approving email,or telephone.
allocation to Destination Institutions on the list that you
do not reject. After entering r (b) All of your deposits at a Destination Institution
ejections,if sufficient time
remains in DPR,you will have the opportunity to review in the same insurable capacity(whether you.are acting
a list of other Destination Institutions to which your funds directly or through an intermediary)will be aggregated
could be allocated ("Alternate Placement List"). If you for the SMDIA. You should add to your Exclusions List
click the approval button fort the Alternate Placement any depository institution at which you have other
List, or you do not reject I any of the Destination deposits in the same insurable capacity. Insurable
Institutions on it, you will be approving the allocation of capacities include, among others, individual accounts
your funds to any of the listed bestination Institutions. If and joint accounts.
you reject any of the Destination Institutions on the (c) You are responsible for determining whether
Alternate Placement List, !you will be approving deposits we place for you are maintained in separate
allocation to listed Destination Institutions that you do insurable capacities. Separate divisions within a
not reject. Your funds may be allocated to any corporate entity are not eligible for separate insurance
combination of Destination Institutions on the Proposed coverage, and a separate TIN or other Depositor
Placement List and the Alternate Placement List that Identifier does not establish a separate insurable
you do not reject.
capacity.
(f) If the provisional allocation on a Business Day (d) We will use the Depositor Identifier to identify
would result in funds of yours;currently at a Destination you, and we will place deposits for you on the
Institution being moved to another Destination understanding that you are not submitting deposits for
Institution and you reject the other Destination Institution placement under more than one Depositor Identifier in
in DPR that Business Day,the funds will not necessarily the same insurable capacity.
remain at the first Destination Institution. The funds will
be allocated to a Destination;Institution that you do not (e) The requirements for FDIC deposit insurance
reject or returned to the Root Account. coverage of the deposits of governmental units,
(g) A Destination Institution that you reject in DPR including the United States government,state and local
governments, the District of Columbia, and the
will also be added to your Exclusions List,for purposes Commonwealth of Puerto Rico, are set forth in FDIC
of future allocations,within one Business Day after the regulations. If you are a governmental unit, you are
Business Day on which you submit the rejection. responsible for determining whether the requirements
(h) We do not guarantee that all your funds will be for deposit insurance have been met. We are not
allocated to Destination Institutions on any particular responsible for losses resulting from the placement of
day, even if they were allocated to Destination deposits that are not eligible for FDIC deposit insurance.
Institutions on a previous� day. Exclusions and (f) Records that we maintain,or that BNY Mellon
rejections of Destination Institutions may increase the maintains for us, reflecting ownership of the Deposit
chance that funds will not be allocated. If funds not yet Accounts will be used to establish your eligibility for
transferred to the Deposit Accounts are not allocated to deposit insurance coverage. Accordingly, you must
a Destination Institution on ai Business Day, the funds immediately report to us any changes in ownership
will remain in the Root Account. If funds previously information so that there will be accurate information to
transferred to the Deposit Accounts are not allocated to provide to the FDIC if a Destination Institution fails and
a Destination Institution on a;Business Day, the funds the FDIC pays its insured deposits by cash payment.
will be returned to the Root Account. The FDIC could also require you to provide additional
documentation.
7 DDA-MMDA DPA-Version 2021-01
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IntraF� CIDAPS'andfCS'
Network Deposits- d iposlr.products
7.2. Responsibility to Monitor Deposits; Available otherwise adequately protected,in a manner consistent
Information with applicable law. You should consult your legal
advisor to determine whether a collateralization
(a) You are responsible for monitoring the total arrangement is consistent with applicable law.
amount of your funds at each Destination Institution in
each insurable capacity to determine the extent of FDIC (c) If you cannot accept the risk of having a
deposit insurance coverage available to you for deposits deposit with us that is not fully insured, and we do not
at that Destination Institution: You should confirm that offer arrangements of the kind described in Section
each placement of your funds]at Destination Institutions 7.3(b) or we offer them but you do not make such
is consistent with your exclusions and rejections. arrangements with us, you should not submit deposits
for placement through the DDA-MMDA Option.
(b) You can obtain publicly available financial
information on Destination Institutions from the National 7.4. Deposit Insurance Payments
Information Center of the Federal Reserve System at
www.ffiec.gov/nicpubweb/nicweb/nichome.aspx. (a) In case of the liquidation of,or other closing or
winding up of the affairs of, an insured depository
7.3. Uninsured Deposits j institution,the FDIC is generally required by law to pay
each insured deposit "as soon as possible," either by
(a) Although we will not place a deposit for you cash payment or by transferring the deposit to another
through the DDA-MMDA Option at any one Destination insured depository institution. It is possible, however,
Institution in an amount thai exceeds the SMDIA, a that an insurance payment could be delayed. Neither
deposit that we place for you will not be eligible for FDIC we nor any other person or entity will be obligated to
insurance coverage at a Dest'nation Institution before it advance funds to you with respect to an insurance
becomes a deposit at the Destination Institution or after payment or to make any payment to you in satisfaction
it is withdrawn from the Destination Institution. of a loss you might incur as a result of a delay in an
insurance payment.
(i) If we are an FDIC-insured depository
institution and the Root Account is eligible for FDIC (b) If a Destination Institution at which we place
insurance coverage, a deposit in the Root Account deposits for you is closed and the FDIC does not
will be aggregated with your other deposits with us in transfer deposits that include your funds to another
the same insurable capacity for application of the insured depository institution, but will make a deposit
SMDIA of$250,000. insurance cash payment, we will cause a deposit
u If we area credi union the share accounts insurance claim for your funds to be filed with the FDIC,
( ) t and we will credit to you the proceeds of the deposit
of which are insured by the National Credit Union insurance claim that we receive for your funds, subject
Administration ("NCUA") and the Root Account is a to any valid security interest.
share account with us that is eligible for NCUA
insurance coverage, a deposit in the Root Account (c) If the FDIC makes a deposit insurance cash
will be aggregated with your other deposits with us in payment for a Deposit Account at a closed Destination
the same insurable capacity for application of the Institution, the FDIC is required by law to pay the
NCUA standard maximum share insurance amount principal amount plus unpaid accrued interest to the
of$250,000. date of the closing of the Destination Institution, as
i prescribed by law,subject to the SMDIA. No interest is
(iii) If we are not an' FDIC-insured depository earned on a Deposit Account at a Destination Institution
institution or the Root Account is not eligible for FDIC after it closes.
insurance coverage, a deposit in the Root Account
will not be FDIC-insured.!, If we are not an NCUA- (d) If the FDIC transfers the deposits of a closed
insured credit union or the Root Account is not Destination Institution to another insured depository
eligible for NCUA insurance coverage, a deposit in institution, the acquiring institution may assume a
the Root Account will not be NCUA-insured. Deposit Account. The acquiring institution may change
the rate at which it pays interest on the assumed Deposit
(b) If you cannot accept the risk of having a Account,subject to your right to withdraw the funds.
deposit with us that is not fully insured, you will be
responsible for making arrangements with us,if we offer
them,to have the deposits collateralized,protected by a
properly-executed repurchase sweep arrangement, or
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IntraF• B ARS'and lCS
!Network Deposits de posit products
8. Additional Considerations such notice,materials,or information to you. If you wish
to receive such notice, materials, or information directly
8.1. Compare Rates from the mutual institution, or if you wish to attend or
vote at any meeting of the depositor members of the
(a) We are not acting as your investment advisor, mutual institution or receive subscription rights, you
and we are not advising! you about alternative must, before the applicable record date (a date that is
investments. You are respgnsible for comparing the usually at least one year before the mutual institution's
rates of return and other features of the Deposit
Accounts to other available deposit accounts and other board of directors adopts a plan of conversion),dismiss
p us as your custodian and have the Deposit Account
kinds of investments before choosing placement recorded on the records of the mutual institution in your
through the DDA-MMDA Option. name pursuant to Section 2.2.
(b) The Interest Rate may be higher or lower than 9,• Other Provisions
a cost-of-funds rate for a Destination Institution, an
interest rate for another customer, or interest rates on 9.1. Release and Use of Identifying Information
comparable deposits available directly from us,from the
Destination Institutions at which the Deposit Accounts (a) We may provide information that identifies you
are held, from other Destination Institutions, or from. ('Identifying Information"), including your name, your
insured depository institutions that are not Destination TIN or other Depositor Identifier, and information on
Institutions. ! your deposits, to a party that provides services in
connection with the DDA-MMDA Option ("Service
8.2. Allocation Considerations Provider'),including IntraFi and BNY Mellon. A Service
Provider may use Identifying Information in providing
(a) The DDA-MMDA Option allocation process is services in connection with the DDA-MMDA Option.
subject to applicable law and may be affected by our
objectives, IntraFi's objectives, or both, including (b) We or a Service Provider may also provide
administrative convenience, ;reduction of costs, and Identifying Information to a Destination Institution, but
enhancement of profits. will do so only to the extent necessary to comply with a
request by you or your agent or to comply with
(b) Participating institutions in the DDA-MMDA applicable law. In addition, we or a Service Provider
Option service may make ;compensatory payments may provide Identifying Information to the FDIC in
resulting in payments to other participating institutions, connection with a deposit insurance claim.
or receive compensatory payments resulting from
payments by other participating institutions, including (c) Except as provided in Section 9.1(a) or
compensatory payments that reflect the difference Section 9.1(b), we will not provide Identifying
between an interest rate for deposits placed by an Information to any party unless we determine that(i)we
institution and a rate at which the receiving institution are required by applicable law to do so or (ii) we are
would otherwise pay interest.! permitted by applicable law to do so and have
i reasonable grounds to do so to protect our own legal or
8.3. Mutual Institution Rights business interests or the legal or business interests of
I IntraFi or BNY Mellon.
(a) Your funds may be placed in a Deposit
Account at a Destination Institution that is in the mutual (d) IntraFi may use and disclose any and all
form of organization. Such a Deposit Account will be analyses, comparisons,. indexes, or other data or
recorded on the records of the mutual institution in the information assembled, compiled, or otherwise
name of the sub-custodian and not in your name. The developed by IntraFi, including information regarding
sub-custodian will not attend for vote at any meeting of aggregated activity of the DDA-MMDA Option
the depositor membersof!a mutual institution, or depositors, as long as it does not individually identify
exercise any subscription rigtjts in a mutual institution's you.
mutual-to-stock conversion, either on its own behalf or
on your behalf. 9.2. Tax Reporting and Withholding
(b) If we receive from the sub-custodian notice of (a) To the extent required by applicable law, we
a meeting of depositor members of a mutual institution will file with the U.S. Internal Revenue Service ("IRS"),
or other materials or information relating to a mutual and furnish to you,IRS Form 1099-INT or its equivalent,
institution's mutual-to-stock conversion,we may forward
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9 DDA-MMDA DPA-Version 2021-01
Fri1merly
IntraFi CbAPS and ICS
Network Deposits' deposit products
or IRS Form 1042-S or its equivalent, for interest paid PUNITIVE, INCIDENTAL, OR CONSEQUENTIAL DAMAGES
on the Deposit Accounts by the Destination Institutions. (INCLUDING LOST PROFITS).
(b) If we are notified ,by the IRS that backup (d) ANY DISPUTE ARISING OUT OF OR IN CONNECTION
withholding is required for Interest on the Deposit WITH THIS AGREEMENT WILL BE GOVERNED BY THE DISPUTE
Accounts, or if we otherwise determine that we are RESOLUTION, ARBITRATION, CHOICE OF LAW, VENUE,
required by applicable law to collect such backup WAIVER OF JURY TRIAL,AND COSTS RELATED TO DISPUTES
withholding,we will collect it and pay it to the IRS. PROVISIONS, IF ANY, CONTAINED IN THE CUSTODIAL
AGREEMENT.
9.3. Liability and Dispute Resolution
9.4. Miscellaneous
(a) We will maintain,directly or through a Service
Provider,appropriate records of our placements for you. (a) This Agreement constitutes the entire
We will not place deposits for you through the DDA- agreement between you and us relating to the
MMDA Option at a Destination Institution that is the placement of deposits through the DDA-MMDA Option
subject of a then-effective exclusion on your Exclusions and any other matter herein, supersedes prior
List, at a Destination Institution that is the subject of a agreements, understandings, negotiations,
then-effective rejection by you, or at a Destination representations,and proposals,whether written or oral,
Institution under one Depositor Identifier in an amount relating to any matter herein, and may not be amended
that exceeds the SMDIA. by any oral representation or oral agreement. This
Section 9.4(a)will not affect the validity of any addenda
(b) If all or part of your deposit at a Destination into which we have entered with you.
Institution is uninsured because of our failure to comply
with the requirements set forth in Section 9.3(a), and if (b) Schedule 1 and Schedule 2 are incorporated
the Destination Institution fails and you do not otherwise into and made part of this Agreement. We may amend
recover the uninsured portion;we will reimburse you for this Agreement, including any Schedule, prospectively
your documented loss of the uninsured portion that you by giving you written notice of the amendment at least
do not otherwise recover. i fourteen (14) days before the effective date of the
amendment,which will be specified in the amendment
(c) SUBJECT TO OUR REIMBURSEMENT OBLIGATION or,if no effective date is specified in the amendment,the
IN SECTION 9.3(b), AND EXCEPT AS MAY BE OTHERWISE date that is fourteen(14)days after we give you written
REQUIRED BY APPLICABLE LAW,WE WILL NOT BE LIABLE,AND notice of the amendment. We may provide written
IN NO EVENT WILL INTRAR OR BNY MELLON BE LIABLE,TO notice of the amendment by means of a posting on the
YOU OR TO ANY OTHER PERSON OR ENTITY FOR ANY LOSS DCP, an entry on your account statement, an email
OR DAMAGE INCURRED OR 1ALLEGEDLY INCURRED IN message,or a printed letter.
CONNECTION WITH THIS AGREEMENT. WITHOUT LIMITING
THE FOREGOING,WE,INTRAFI,AND BNY MELLON WILL NOT (c) Either party may terminate this Agreement on
HAVE ANY LIABILITY TO YOU OR ANY OTHER PERSON OR written notice to the other, but the obligations of both
ENTITY FOR: (I)ANY LOSS ARISING OUT OF OR RELATING TO parties will survive with respect to any funds deposited
A CAUSE OVER WHICH WE DO NOT HAVE DIRECT CONTROL, at the time of termination. In addition,the provisions of
INCLUDING THE FAILURE OF ELECTRONIC OR MECHANICAL this Section 9.4 will survive termination.
EQUIPMENT OR COMMUNICATION LINES, TELEPHONE OR
OTHER INTERCONNECT PROBLEMS,UNAUTHORIZED ACCESS, (d) Except as provided In Section 2.2(d), this
THEFT, OPERATOR ERRORS, GOVERNMENT RESTRICTIONS, Agreement may not be assigned, in whole or in part, by
OR FORCE MAJEURE (E.G., EARTHQUAKE, FLOOD, SEVERE either,party except by operation of law or as required by
OR EXTRAORDINARY WEATHER CONDITIONS, NATURAL applicable law, and any purported assignment In
DISASTERS OR OTHER ACT OF!GOD, FIRE, ACTS OF WAR, violation hereof is void.
TERRORIST ATTACKS,INSURRECTION,RIOT,STRIKES,LABOR
DISPUTES OR SIMILAR PROBLEMS, ACCIDENT, ACTION OF (e) The headings in this Agreement are not
GOVERNMENT, COMMUNICATIONS, SYSTEM OR POWER intended to describe,interpret,define,or limit the scope,
FAILURES,OR EQUIPMENT OR SOFTWARE MALFUNCTION),(ii) meaning,or intent of this Agreement or any clause in it.
DELAY IN ANY FDIC INSURANCE PAYMENT, (III) THE Except as otherwise specified,a reference to a Section
FINANCIAL CONDITION OF ANY DESTINATION INSTITUTION OR is a reference to a section of this Agreement. A
THE ACCURACY OF ANY FINANCIAL INFORMATION ABOUTANY reference to a Schedule is a reference to a schedule to
DESTINATION INSTITUTION,OR(IV)ANY SPECIAL,INDIRECT, this Agreement. The term"applicable law"refers to all
applicable statutes, rules, regulations, and judicial
10 DDA-MMDA DPA-Version 2021-01
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orders, whether federal, state, or local. The words against you and us when executed by one of the
"include," "includes," and "including" do not imply following means that we accept: (i)an original manual
exclusion. signature, (ii) a DocuSigneSignature or another
electronic signature that we accept, or (iii) a faxed,
(f) This Agreement and, unless otherwise scanned (including in a Portable Document Format or
provided in the Custodial Agreement, the Custodial PDF document), or photocopied signature that we
Agreement may be executed in counterparts, each of accept. Each DocuSign®eSignature, other electronic
which shall be deemed to be an original, but such signature,or faxed, scanned, or photocopied signature
counterparts shall, together, constitute only one that we accept shall for all purposes have the same
instrument. This Agreement and, unless otherwise validity, legal effect,and admissibility in evidence as an
provided in the Custodial Agreement, the Custodial original signature,and you and we waive any objection
Agreement will be valid, binding, and enforceable to the contrary.
The remainder of this page is intentionally left blank.
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IntraFi Formerly
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Network Deposits- d POSAproducts
By signing below, you ("Depositor') and we ("Relationship Institution") agree to be legally bound by this IntraFi
Network Deposits DDA-MMDA Deposit Placement Agreement, effective when you and we have signed it. If the
Custodial Account will be a joint account,each owner of the Custodial Account must sign this Agreement.
RELATIONSHIP INSTITUTION SOLE OR PRIMARY DEPOSITOR
Institution: MidAmerica National Bank Depositor: Crystal Wilkinson
Signature: L Signature: �f��f�ta� �L�uQG��rnoEm
Name and title of authorized signatory: Name and title of authorized signatory(if not individual):
i
Jodi Wilcoxen I Crystal Wilkinson
Business Banking Officer Treasurer
I
Date signed: 01/26/2022 i Depositor TIN or approved alternate identifier(and type):
37-6000876
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I Email: cwilkinson@cantoncityhall.org
Date signed: �I a�'a a
ADDITIONAL DEPOSITOR(FOR JOINT ACCOUNT)
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Depositor: Kent McDo ell
Signature: x
jDepositor TIN or approved alternate identifier(and type):
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Email: kmcdowell@cantoncityhall.org
Date signed: x 2
j ADDITIONAL DEPOSITOR(FOR JOINT ACCOUNT)
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Depositor: Di na Pavle ock
Signature:
Depositor TIN or approved alternate identifier(and type):
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Email: dpavley@cantoncityhall.org
Date signed: c �' J - zo
(Add signature lines as needed.)
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12 DDA-MMDA DPA-Version 2021-01
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Schedule 1 to IntraFi Network Deposits DDA-MMDA
Deposit Placement Agreement
Program Deposits and Program Withdrawals
9 P 9
This Schedule.1 is part of the IntraFi Network Deposits DDA-MMDA Deposit Placement Agreement("AgreemenC).
Terms not defined in this Schedule 1 have the meanings, if any,assigned elsewhere in the Agreement.
1. Soecified Terms !
(a) For DDAs,the Target Balance, Minimum Sweep Amount,and Minimum Return Amount are as follows:
Target Balance Minimum Sweep Amount Minimum Return Amount
$150,000 $150,100 $150,100
i
(b) For MMDAs,the Target Balance, Minimum Sweep Amount,and Minimum Return Amount are as follows:
1
Target Balance Minimum Sweep Amount Minimum Return Amount
$ $ $
(c) The Same-Day Deposit Cutoff Time is as follows:
!
II•--�%�AM 11 PM Eastern117 Central Mountain �! Pacific
(insert time) (check AM or PM) (check time zone)
! Daylight Saving Timq applies when nationally in effect unless checked here F
2. Program Deposits
(a) The Triggering Eventifor a Regular Program Deposit is a net change in your Root Account balance that causes
it to exceed the Target Balance by more than the Minimum Sweep Amount. After posting all your Root Account activity
for a Business Day,we will determine whether your Root Account balance exceeds the Target Balance by more than
the Minimum Sweep Amount: Subject to the terms and conditions of this Agreement,if such a Triggering Event occurs,
we will transfer the amount by which your Root Account balance exceeds the Target Balance to the Deposit Accounts
at DDA-MMDA Option Settlement on the next Business Day.
(b) The Triggering Event,for a Same-Day Program Deposit is a Same-Day Program Deposit request by you that we
receive and accept before the Same-Day Deposit Cutoff Time on a Business Day. Subject to the terms and conditions
of this Agreement, if such a Triggering Event occurs,we will transfer the requested amount to the Deposit Accounts at
DDA-MMDA Option Settlement later on the same Business Day.
(c) If a Triggering Event for a Program Deposit occurs,we may debit the Root Account and credit a holding account
before the transfer of funds to the Deposit Accounts occurs at DDA-MMDA Option Settlement.
3. Program Withdrawals
(a) All Program Withdrawals will be Regular Program Withdrawals,which occur on the Business Day following the
Triggering Event. The Triggering Event for a Program Withdrawal is a net change in your Root Account balance, after
the posting of all your Root Account activity for a Business Day,that causes it(exclusive of any amounts that we credit
as advances in anticipation of a Program Withdrawal)to be less than the Target Balance by more than the Minimum
Return Amount. Subject to the terms and conditions of this Agreement,if such a Triggering Event occurs,we will transfer
an amount from the Deposit Accounts at DDA-MMDA Option Settlement on the next Business Day, up to the available
amount in the Deposit Accounts,sufficient to restore your Root Account balance to the Target Balance.
S1-1 DDA-MMDA DPA Schedule 1 T2-DS-Version 2021-01
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(b) Subject to the terms and conditions of this Agreement, and subject to the rules and cutoff times that otherwise
apply to root accounts with us;,we will honor your debit transactions in the Root Account so long as the sum of your Root
Account balance and your balance in the Deposit Accounts of the applicable type,after taking into account any pending
Program Deposits and any pending Program Withdrawals,is not less than zero. We will do so even if the amount of the
debit transaction exceeds your Root Account balance. You will owe us any amounts that we credit as advances in
anticipation of a Program Deposit and we will retain those amounts from the funds we receive at DDA-MMDA Option
Settlement. j
(c) If a Triggering Events for a Program Withdrawal occurs, we may credit the Root Account and debit a holding
account before the transfer of funds from the Deposit Accounts occurs at DDA-MMDA Option Settlement.
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S1-2 DDA-MMDA DPA Schedule 1 T2-DS-Version 2021-01
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IntraFi Fp`medy
COAPS'and ICS
Network Deposits' e"Mt product,
Schedule 2 to IntraFi Network Deposits DDA-MMDA
Deposit Placement Agreement
Account Type,Placement Feature,and Exclusions
;
This Schedule 2 is part of the IntraFi Network Deposits DDA-MMDA Deposit Placement Agreement("Agreemenf').
Terms not defined in this Schedule 2 have the meanings,if any,assigned elsewhere in the Agreement.
1. Account Type
We will place deposits for you in DDAs.
We will lace de osits for you in MMDAs. You may use up to six MMDA Program
P P
Withdrawals per month.
;
11-11 We may place deposits for you in DDAs or No per-month MMDA Program Withdrawal
in MMDAs. F111 limit applies.
(Check one above.) (If MMDAs will or may be used, check one above.)
2. Placement Feature
We may use the Reciprocal Feature,the One-Way Feature,or both in placing
r0l deposits for you.
✓❑ We will fuse only the Reciprocal Feature in placing deposits for you.
FE11We will use only the One-Way Feature In placing deposits for you.
(Check one above.)
3. Exclusions
i
(a) You may place depository institutions on your Exclusions List by identifying them in the list below, unless we
specify another means by which you will provide your Exclusions List.
(b) The Exclusions List should include the city and state of the depository institution's main office (rather than the
city and state of a branch location). The Exclusions List may also include the institution's FDIC certificate number or
transit routing number. If you,do not list any exclusions enter"none"under Name of Institution on the first line(but your
signature after a blank list will constitute your acknowledgment that you have not listed any exclusions).
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(c) Exclusions List:
Name of Depository Institution City and State FDIC Certificate or Routing Number
Wells Fargo Canton, IL 071101307
Bank of Farmington Canton, IL 071105882
Ipava State Bank Canton, IL 071113748
Illinois Funds Springfield, IL 075000022
Illini Bank Springfield, IL 071109163
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(Add lines if necessary.)
Signature of sole or primary Depositor
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S2-2 DDA-MMDA DPA Schedule 2-Version 2021-01
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Custodial Agreement
You,the undersigned,enter into this Custodial Agreement("Agreement")with the following financial institution("we"
or"us"):
MidAmerica National Bank
1. Pursuant to this Agreement, you authorize us to hold and act as your custodian with respect to all deposit
accounts, including all time ideposits, money market deposit accounts, and demand deposit accounts, issued or
established pursuant to the IntraFi Network Deposits CD Deposit Placement Agreement, the IntraFi Network Deposits
DDA-MMDA Deposit Placement Agreement,or a predecessor agreement("Deposit Accounts")for funds of yours placed
as deposits through the IntraFism Network Depositss" CD Option ("CD Option"), formerly known as CDARS®, or the
IntraFi Network Deposits DDA-MMDA Option ("DDA-MMDA Option"), formerly known as ICS®, and all your security
entitlements and other related interests and assets with respect to the Deposit Accounts("Related Entitlements"). The
custodial account in which we will hold the Deposit Accounts and Related Entitlements("Custodial Account")comprises
all the CD Option and DDA-MMDA Option custodial accounts that we maintain for you.
2. As your custodian,w'e may(i)cause the Deposit Accounts to be titled in our name or in the name of our sub-
custodian, (ii) collect for yours account all interest and other payments of income or principal pertaining to the Deposit
Accounts,(iii)endorse on your behalf any check or other instrument received for your account that requires endorsement,
(iv)in accordance with your instructions, deposit your funds in,or withdraw your funds from,the Deposit Accounts, (v)
in accordance with your instructions, deliver or transfer funds from another account with us to the Deposit Accounts or
deliver or transfer funds from;the Deposit Accounts to another account with us, (vi)for Deposit Accounts that are time
deposits,surrender for payment for your account maturing CDs and those for which early withdrawal is requested, (vii)
execute and deliver or file on your behalf all appropriate receipts and releases and other instruments,including whatever
certificates may be required from custodians or may be necessary to obtain exemption from taxes and to name you
when required for the purpose of the instrument, and (viii) take such other actions as are customary or necessary to
effectuate the purposes of this Agreement.
3. For purposes of Article 8 of the Uniform Commercial Code in applicable state law("UCC'),we will act as your
securities intermediary for, and will treat as financial assets, any Deposit Accounts and Related Entitlements that we
hold for you pursuant to this Agreement. The Custodial Account will be a securities account,as defined in the UCC.
4. We may comply with any writ of attachment, execution, garnishment, tax levy, restraining order, subpoena,
warrant,or other legal process that we believe(correctly or otherwise)to be valid. We may notify you of such process
by telephone, electronically, or in writing. If we are not fully reimbursed for records research, imaging, photocopying,
and handling costs by the parry that served the process,we may charge such costs to your account, in addition to any
minimum fee we charge for complying with legal processes.
5. We may honor any legal process that is served personally,by mail,or by electronic mail or facsimile transmission
at any of our offices or an office of our agent(including locations other than where the funds,records,or property sought
is held),even if the law requires personal delivery at the office where your account or records are maintained.
6. We will have no liability to you for any good-faith act or omission by us in connection with this Agreement. You
agree to indemnify us and our sub-custodian, and to hold us and our sub-custodian harmless from, all expenses
(including counsel fees),liabilities,and claims arising out of any good-faith act or omission by us in connection with this
Agreement or compliance with any legal process relating to the Custodial Account that we believe(correctly or otherwise)
to be valid. You agree to pay;any service charges that we impose on the Custodial Account.
7. You may be an individual in an individual capacity, more than one individual in a joint capacity, or a trust,
partnership,corporation,or other legal entity. We may accept instructions on your behalf from any individual who signs
this Agreement as or on behalf of a Depositor and from any of the following individuals:
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1 CAT-Version 2021-01
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Name Title or Legal Capacity
Crystal Wilkin son Treasurer
Kent McDowell Mayor
Diana Pavle -Rock City Clerk
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2 CAT-Version 2021-01
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By signing below, you ("Depositor')and we ("Relationship Institution")agree to be legally bound by this Custodial
Agreement, effective when you and we have signed it. If the Custodial Account will be a joint account, each owner of
the Custodial Account must sign this Agreement.
RELATIONSHIP INSTITUTION SOLE OR PRIMARY DEPOSITOR
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Institution: MidAmerica Nation/al Bank Depositor: Crystal Wilkinson
Signature: L� Signature:
Name and title o authorized signatory: Name and title of authorized signatory(if not individual):
Jodi Wilcoxen Crystal Wilkinson
Business Banking Officer Treasurer
Date signed: 01/26/2022 Depositor TIN or approved alternate identifier(and type):
37-6000876
Email: cwilkinson@cantoncityhall.org
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Date signed:
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ADDITIONAL DEPOSITOR(FOR JOINT ACCOUNT)
Depositor: Kent Mc owell
Signature:
Depositor TIN or approved alternate identifier(and type):
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Email: kmcdowell@cantoncityhall.org
Date signed: x
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ADDITIONAL DEPOSITOR(FOR JOINT ACCOUNT)
Depositor: Diana avle -Ro
Signature: x
Depositor TIN or approved alternate identifier(and type):
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j Email: dpavley@cantoncityhall.org
Date signed:
(Add signature lines as needed.)
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Changes on Existing
Checking Accounts
Title of Account City of Canton Account# 35358
! Water/Sewer General Fund
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Change TYPE of Account to(check one):
eChecking(Online Banking Application is required with eChecking)
[- M-Club eChecking:(Online Banking Application is required with M-Club eChecking)
[I Great Start Checking(Online Banking Application is required with Great Start Checking)
[i Classic Checking ❑ M-Club Checking [j Preferred Sweep-Floating
Small Business Checking ❑ M-Club NOW Checking r Preferred Sweep-Fixed
Business Checking F; NOW Checking
[vj Business Plus Checking ❑ Money Market
❑ Compensating balance to dffset monthly service fee on Classic Checking or M-Club Checking only:
Savings#
CD or IRA#
Mort Ln#
® NEW Disclosure given: x❑ In person ❑ Mailed
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Bank Representative I Jodi Wilcoxen Date 01/26/2022
❑ Online Banking Application!Attached(Required with eChecking,M-Club eChecking&Great Start Checking)
Customer Signature CII� t i Q l�1 Date
Customer Signature Date
Bank Representative Date
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Phone Verification
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WA14TURVAL1741W.
EstnA4shM�9A7 MemborFQLC
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your bank for life
midnatbank.com • 1-877-647-5050 Canton Cuba Henry • Lewistown • Macomb
Changes on Existing Checking Accounts 07-2021
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