Common use of Partial Redemption and Penalties for Early Withdrawal Clause in Contracts

Partial Redemption and Penalties for Early Withdrawal. You may make early withdrawals of principal, in whole or in part. The minimum amount of each principal withdrawal you may make prior to maturity is $1,000.00. We may impose a penalty if you withdraw any of the principal funds before the maturity date, subject to paragraph 7(b) above. Penalties will be imposed only on the amount withdrawn, provided that the Certificate balance remains at or above its minimum purchase requirement. The penalty on a 91 day Certificate will equal 30 days’ interest on the amount withdrawn. The penalty on a 182 day Certificate will equal 60 days’ interest on the amount withdrawn. The penalty on a Certificate with a term of 12 months or longer will equal 180 days’ interest on the amount withdrawn.

Partial Redemption and Penalties for Early Withdrawal. You may make early withdrawals of principal, in whole or in part. The minimum amount of each principal withdrawal you may make prior to maturity is $1,000.00. We may impose a penalty if you withdraw any of the principal funds before the maturity date, subject to paragraph 7(b) above. Penalties will be imposed only on the amount withdrawn, provided that the Certificate balance remains at or above its minimum purchase requirement. The penalty on a 91 day 3 month Certificate will equal 30 days’ interest on the amount withdrawn. The penalty on a 182 day 6 month Certificate will equal 60 days’ interest on the amount withdrawn. The penalty on a Certificate with a term of 12 months or longer will equal 180 days’ interest on the amount withdrawn.