Rights in Collateral. Credit Union shall solely and exclusively own all right, title, and interest in and to collateral as determined in the Credit Union’s loan agreement with its customer and all proceeds and payments thereof. All collections from customer with respect to loans extended by Credit Union received by FINSYNC shall be held by FINSYNC in trust for the benefit of Credit Union and shall be disbursed, remitted, and delivered to Credit Union or deposited per Credit Union’s instructions in accordance with the provisions herein.
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Sources: Terms of Use Agreement, Terms of Use Agreement