Home Equity Disclosures

Home Equity Line of Credit Disclosures

This disclosure contains important information about our HOME EQUITY LINE OF CREDIT plans. You should read it carefully and keep a copy of these disclosures for your records.

1. AVAILABILITY OF TERMS. All of the terms described below are subject to change. If these terms change (other than the annual percentage rate), and you decide, as a result, not to enter into an agreement with us, you are entitled to a refund of any fees that you have paid to us or anyone else in connection with your application. We offer a variety of plans with different rates and terms. We will provide you a number of samples.

2. SECURITY INTEREST. We will take a security in your home.
You could lose your home if you do not meet the obligations in your agreement with us.

3. POSSIBLE ACTIONS. Under certain circumstances, we can:

A. Terminate your line of credit, require you to pay us the entire outstanding balance in one payment, and charge you
    certain fees;
B. Refuse to make additional extensions of credit; and
C. Reduce your credit limit.

We can terminate your line of credit, require you to pay us the entire outstanding balance in one payment, and charge you certain fees if:

A. You engage in fraud or material misrepresentation in connection with the line of credit;
B. You fail to make a payment as required by the agreement; or
C. Your action or inaction adversely affects the collateral or our rights in the collateral.

We can refuse to make additional extensions of credit or reduce your credit limit if:

A. The value of the dwelling securing the line of credit declines significantly below its appraised value for purposes of the
    line of credit;
B. We reasonably believe you will not be able to meet the repayment requirements under the line of credit due to a material
    change in your financial circumstances;
C. You are in default of a material obligation of the agreement, which shall include, but is not limited to, your ongoing
    obligation to supply us with information we feel we need to assess your financial condition;
D. Government action prevents us from imposing the annual percentage rate provided for in the agreement, or impairs our
    security interest such that the value of the interest is less than 120% of the credit limit on the line of credit;
E. A regulatory agency has notified us that continued advances would constitute an unsafe and unsound practice; or
F. The maximum annual percentage rate is reached.

4. PLAN LENGTHS. We offer plans whereby you can get advances for:

• 120 months (if your loan to value ratio is 89.9% or less).

5. RENEWAL OR REFINANCE OF LINE. After the Draw Period ends, you will no longer be able to obtain credit advances. If we determine that you continue to meet our current credit criteria and collateral valuation, at our discretion, we may extend the Draw Period for one or more additional Draw Periods or we may refinance your Line on the terms we are then offering for Home Equity Lines of Credit. Otherwise, if your Line is not renewed for an additional Draw Period or your Line is not refinanced, you must repay the outstanding balance on your Line at maturity. We are not obligated to refinance your loan at this time. You may also request that we refinance or renew your Line.

6. MINIMUM PAYMENT REQUIREMENTS. We have two different payment options available.

PAYMENT PLAN 1: The minimum payment is 1.5% of your loan account balance at the end of the billing cycle, or $75.00, whichever is greater.

• MINIMUM PAYMENT REQUIREMENTS: You can obtain advances of credit during the following period: 120 months (the "Draw Period"). Your Regular Payment will be based on a percentage of your outstanding balance, including principal and unpaid interest, as shown below or $75.00, whichever is greater. Your payments will be due monthly.

• Your "Minimum Payment" will be the Regular Payment, plus any amount past due and all other charges. The Minimum Payment will not fully repay the principal that is outstanding on your Credit Line and your final payment will be a single balloon payment.
• A change in the ANNUAL PERCENTAGE RATE can cause the balance to be repaid more quickly or more slowly. When rates decrease, less interest is due, so more of the payment repays the principal balance. When rates increase, more interest is due, so less of the payment repays the principal balance. If this happens, we may adjust your payment as follows: your final payment may be increased. Each time the ANNUAL PERCENTAGE RATE increase, we will check to see if your payment is sufficient to pay the interest due. If it is not, your payment will be increased by an amount sufficient to cover all accrued FINANCE CHARGES.
• MINIMUM PAYMENT EXAMPLE: If you made only the minimum payment and took no other credit advances, it would take 10 years to pay off a credit advance of $10,000 at an ANNUAL PERCENTAGE RATE of 4.250%. During that period, you would make 119 monthly payments ranging for $75.00 to $150.54 and one final payment of $1,243.94.

PAYMENT PLAN 2: The minimum payment is accrued finance charges and credit insurance premiums (if any) at the end of the billing cycle.

• MINIMUM PAYMENT REQUIREMENTS: You can obtain advances of credit during the following period: 120 months (the "Draw Period"). Your Regular Payment will equal the amount of your accrued FINANCE CHARGES. You will make 119 of these payments. You will then be required to pay the entire balance owing in a single balloon payment. If you make only the minimum payments, you may not repay any of the principal balance by the end of the payment stream. Your payments will be due monthly. Your "Minimum Payment" will be the Regular Payment, plus any amount past due and all other charges. An increase in the ANNUAL PERCENTAGE RATE may increase the amount of your Regular Payment.
• MINIMUM PAYMENT EXAMPLE: If you mad only the minimum payment and took no other credit advances, it would take 10 years to pay off a credit advance of $10,000 at an ANNUAL PERCENTAGE RATE of 4.250%. During that period, you would make 119 monthly payments ranging from $32.60 to $36.10 and one final payment of $10,036.10.
• MINIMUM PAYMENT EXAMPLE FOR 2% MARGIN, 120 MONTH DRAW: If you made only the minimum monthly payment and took no other credit advances, it would take 10 years to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE of 10.250%. During that period, you would make 119 payments of $85.42, with a final payment of $10,085.42.

• FIXED RATE LOCK OPTION: This Agreement includes a Fixed Rate Lock Option that is subject to the following terms:
  • Lock Balance. You may exercise the Lock Option against any amount of the Loan Account Balance.
  • Lock Period. You may exercise the Lock Option at any time during the Draw Period on your Transaction Account.
  • Lock Number. You may have outstanding no more than five Locks on your line of credit at a time. Each Lock created will be a minimum of $2,500.00, but cannot exceed the available credit under your line of credit.
  • Lock Term. The Lock term may not exceed the remaining number of months in the Draw Period on your Transaction Account.
  • Lock Repayment Method. Payments on a Lock will be fully amortized over the Lock term. The amounts you pay will be applied first to the variable rate portion of your Transaction Account, then to the fixed rate portion. Such payments shall be applied to interest, fees, (other than late fees), insurance, principal, and late fees, in the preceding order or in any other order at our discretion.
  • Lock Fees. Your Transaction Account will be assessed a $50 Lock fee each time you exercise a Lock Option.
  • Fixed Rate Determination. The fixed rate applicable to a Lock will be determined by the 3-year Treasury Note Index (for terms up to 59 months) or by the 5-year Treasury Note Index (for terms 60 months or greater) in effect as of the first business day in the month you exercise the Lock Option plus a margin. The Lock Option will not include any promotional rate applicable to the Transaction Account.
  • Additional Lock Rules. You must have an existing Loan Account Balance in order to exercise the Lock Option. You may not exercise the Lock Option if your Transaction Account is delinquent. You may not make additional advances to the Lock balance once it is established. Payments on a Lock will be fully amortized over the Lock term and added to the regular Minimum Payment on your line of credit. Additional payments to a Lock may be made at any time, but shall not affect your obligation to pay succeeding Lock payments as long as any amount is still owing on the Lock. As you make payments on a Lock, the available credit under the variable rate portion of the line of credit will replenish up to the payments you make.

7. FEES AND CHARGES. To open and maintain a line of credit, you may have to pay the following fees to us:

* Annual Membership Fee to participate in the plan: $60.00 (due at the beginning of each year of participation). As long as you maintain a Ultrimal Investment Reality Platinum, WorkPlace, WorkPlace Gold, or WorkPlace Platinum Checking account, your Home Equity Line of Credit annual membership fee will be waived. Upon closing the checking account or switching to another checking product, your annual membership fee will be reinstated in accordance with the original terms and conditions of your Home Equity Line of Credit agreement.  * Over the limit fee: $25.00

Termination Fee: We will charge a Termination Fee if you terminate your account within three (3) years from the date of the agreement.

You may also have to pay certain fees to third parties, such as appraisers, credit reporting firms, and government agencies.

HELOC Fees (range by state)

8. REFUNDABILITY OF FEES. If you decide not to enter into this plan within three days of receiving this disclosure and the Home Equity Booklet, you are entitled to a refund of any fee you may have already paid.

9. LIMITATIONS ON ADVANCES OF CREDIT.
You are limited to obtaining:

• no more than $700.00 per day in withdrawals at ATM machines with your MasterCard®
• no more than $7,500.00 per day using your MasterCard for point of sale transactions, and
• no more than 12 extensions of credit per day by using your MasterCard.

10. TAX DEDUCTIBILITY. You should consult a tax advisor regarding the deductibility of interest and charges for the line of credit.

11.  INSURANCE.  Property insurance is required.  Flood insurance may be required.

12. VARIABLE RATE FEATURES. This line of credit has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum monthly payment can change as a result. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. The index is the base rate on corporate loans posted by at least 75% of the nation' s 30 largest banks known as the Wall Street Journal Prime Rate and is published in the Wall Street Journal. To determine the annual percentage rate that will apply to your line of credit, we add a margin to the value of the index. Ask us for the current index value, margin, and annual percentage rate. After you open a line of credit, rate information will be provided on periodic statements that we send you.

13. RATE CHANGES. The annual percentage rate can change daily. There is no limit on the amount by which the rate can change in any one year period. The maximum ANNUAL PERCENTAGE RATE that can apply during the line of credit is 25.000% for customers whose property is located in Ohio and 22.2% for customers whose property is located in Illinois, Michigan, Pennsylvania and Wisconsin.

14. MAXIMUM RATE AND PAYMENT EXAMPLE.

• If you had an outstanding balance of $10,000, the minimum payment at the maximum ANNUAL PERCENTAGE RATE of 25.000% would be $212.33. This ANNUAL PERCENTAGE RATE could be reached immediately or prior to the 1st payment.

15. Historical examples