Common use of Maturity and Renewal Clause in Contracts

Maturity and Renewal. Your Share Certificate Account will automatically renew upon the Maturity Date and on the Maturity Date of any renewal term unless you prevent renewal by withdrawing all of the funds in your Share Certificate Account or otherwise providing us instructions on a Share Certificate Renewal/Maturity Request. The renewal term will be for the same regular term, or if not opened as regular term share certificate, into the nearest lower regular term share certificate. You may instruct us in person or in writing prior to the expiration of a seven (7) day grace period following maturity to renew or close the certificate on a date of your choosing within the grace period. Funds will continue to earn dividends but at the rate of a new certificate for the same term in effect on the Maturity Date until such date of closure or renewal. If automatically renewed, all funds in a Share Certificate Account as of the renewal date are considered to be principal. If the certificate is no longer offered at the time of renewal the funds will be transferred to a similar share account type.