Loan Advances
In the event that the customer writes a check that overdraws his or her Nexity Bank Checking Account, Nexity Bank agrees to lend the customer enough money (up to the maximum credit limit) to cover the check. Advances are made in $100 increments up to the assigned credit limit.

Agreement to Pay
The customer agrees to pay all loan advances obtained under this agreement plus any charges (including finance charges, collection costs or other amounts) due in accordance with this agreement. The customer is also responsible for repayment of any loans and charges created by persons authorized to use the customer's checking account, whether or not they have signed this agreement.

Maximum Credit Limit
Nexity Bank will determine a maximum credit limit for the customer and may, upon request, raise such a limit. The customer agrees to stay within said limit; if the customer exceeds the limit, and additional moneys have not been approved, Nexity Bank reserves the right to return the customer's check or otherwise refuse to pay the loan request. In the event that Nexity Bank agrees to lend the customer an amount over the maximum limit, the customer agrees to repay the excess, immediately if requested.

Collection Costs
If Nexity Bank is forced to take collection action, the customer agrees to pay all court costs and collection fees, including reasonable attorneys fees of up to 15% of the unpaid outstanding balance.

Financial Statements
In the event that Nexity Bank requires updated financial information for its records, the customer agrees to provide the revised financial information for this purpose.

Change in Terms
Nexity Bank reserves the right to make any change in terms, including an increase in the cost of maintaining a Personal Overdraft Protection Guarantee account, if notice is sent to the customer. Such notice must be served at least 30 days before the start of the billing cycle in which change is effective.

Statement
Nexity Bank will issue a monthly statement (in addition to checking account activity) that details loans, payments and credits made to this account during the billing cycle. In the event that corrections must be made to this statement, the customer will have 60 days to notify the bank of said changes. After 60 days, the statement will be considered correct and accepted.

Minimum/Final Payments
Nexity Bank requires a minimum payment of at least 5% of any new balance or $20, whichever is greater. The customer may, at any time, pay a higher level payment or pay off all of the new balance at any time without penalty. The customer must contact Nexity Bank for the exact balance prior to making final payment, since the finance charge is computed daily.

Automatic Payments
Nexity Bank will automatically deduct the required minimum payment from the customer's checking account. If there are insufficient funds in the account to cover the minimum payment, Nexity Bank is under no obligation to advance an amount to make or cover the payment. Once sufficient funds become available, the minimum payment will be deducted. Nexity Bank may choose to allow a loan advance to make or cover the minimum payment. In the event that this occurs, the loan advance will be made in increments of $100.00.

Entire Balance Due Upon Default
If a payment is not made within 15 days of its due date, Nexity Bank may serve notice of a right to cure default within 20 days. If the customer fails to exercise his or her right to cure default, or cures the default after the notice is sent but defaults within 12 months on a future payment, Nexity Bank reserves the right to terminate this agreement and declare the entire balance due and payable without notice or demand. In the event that a prospect of payment performance or realization of collateral is significantly impaired, Nexity Bank may declare the loan in default.

Security Interest
Nexity Bank reserves the "right of offset" to pay any loan advances. This means that the bank may use any amounts in any deposit accounts to repay the loan, in the event that the customer defaults on the loan. Nexity Bank also has the right to use collateral on any other loans with Nexity Bank to secure payment on this account. Otherwise, Personal Overdraft Protection Guarantee accounts are unsecured loans, unless a separate security agreement has been signed, giving Nexity Bank a Uniform Commercial Code security interest in the personal property described in that agreement.

Finance Charge and Annual Percentage Rate
Nexity Bank will assess no finance charge on loans that are not outstanding. Loan advances for Personal Overdraft Protection Guarantee will carry a finance charge that accrues from the time of the advance and is based on the loan balance in the customer's checking account each day during the billing cycle (after new loans have been added and payments and credits subtracted). The finance charge will be determined by multiplying the daily outstanding loan balance by the daily periodic rate. (an annual percentage rate of 18%). The finance charge will be computed daily until the end of the billing cycle when the charges will be posted to the customer's checking account as an accumulated finance charge.

Cancellation of This Agreement
Nexity Bank has the right to cancel this agreement as to future loan advances at any time. Should this occur, Nexity Bank will mail notification of the reason for termination within 10 days. In the event that a tax lien or judgment is filed against the customer, or the customer files for bankruptcy, Nexity Bank reserves the right to terminate the account without notice.
The customer may cancel this agreement at any time by notifying Nexity Bank in writing or by closing his or her checking account. Such notification becomes effective upon receipt. Whenever a Nexity Bank checking account is closed, the Personal Overdraft Protection Guarantee is terminated without notice. Upon cancellation for any reasons other than default, this agreement continues until all amounts (including loan amounts not yet billed) at the time of cancellation are paid. Should the customer cancel this agreement, Nexity Bank reserves the right to require all amounts owed under this agreement be paid in full within 10 days after notice is given.

Your Deposit Account Terms and Conditions Disclosure | Truth-in-Savings Disclosure | Your Ability to Withdraw Funds Disclosure | Electronic Funds Transfers Disclosure | Notice of ATM User Disclosure | Personal Overdraft Protection Guarantee Agreement | Demand Deposit Line of Credit Agreement | Home Equity Disclosures | Customer Complaint Policy