12/10  G-12992

AGREEMENT AND DISCLOSURE STATEMENT
Business MasterCard®

ATIRACREDIT BUSINESS MASTERCARD  
AGREEMENT AND DISCLOSURE STATEMENT
In this Agreement, please remember that “we,” “our,” and “us” 
mean TMG Financial Services, the issuer of this account; and 
“you” and “your” mean the Member.

This Agreement sets out your responsibilities and obligations, 
those of each Cardmember and Guarantor, and our 
responsibilities and obligations with respect to the Cards, the 
Accounts and all Debt charged to each Account.

ACCEPTANCE OF AGREEMENT
Any one or more of the following acts or actions shall signify that 
you have read and understand, and that each Cardmember and 
Guarantor has read and understands the terms and conditions 
of this Agreement, and shall constitute your agreement, as well 
as the agreement of each Cardmember and each Guarantor, to 
be fully bound by the terms and conditions of this Agreement: (i) 
the acceptance by you or any Cardmember of a Card; (ii) the use 
of any Card or Account by you or any Cardmember; or (iii) the 
accessing of any Card or Account by you or any Cardmember.

NOTICE TO CARDMEMBERS

Each Cardmember shall be individually liable for the payment 
of, and shall pay on our demand all Debt which may be owing 
from time to time from or on account of any and all use by a 
Cardmember, or anyone who has actual, implied or apparent 
authority, of any usage which is not authorized under this 
Agreement (i.e., a use not primarily for or incidental to your 
business). The liability of the Cardmember shall be in addition to 
and not in lieu of your liability and the liability of each Guarantor, 
which liability shall continue for any and all uses as provided in 
this Agreement.

TERMS AND CONDITIONS

1. What the Words Mean.  
In this Agreement, please remember that:

“Account” means the ATIRAcredit Business MasterCard account 
we have opened in a Cardmember’s name to which Debt is or 
will be charged;

“Account Statement” means our written statement of the 
Account that we prepare for a Cardmember about every three 
(3) or four (4) weeks;

“Aggregate Credit Limit” means the maximum aggregate 
amount of Debt that can remain outstanding and unpaid at any 
time in the Accounts of all Cardmembers under this Agreement;

“Agreement” means this ATIRAcredit Business MasterCard 
Agreement and Disclosure Statement, together with (i) your 
application given to us when you applied for the Cards, Accounts, 
your welcome letter, and this ATIRAcredit Business MasterCard 
Agreement and Disclosure Statement, and (ii) all supplements, 
addenda, amendments, modifications, changes, renewals, 
extensions, substitutions, and replacements to this ATIRAcredit 
Business MasterCard Agreement and Disclosure Statement;

“Application” shall have the meaning given to such term in 
Section 34 below and the Application shall be and the same is 
one of our “records” as such term is used in the definition of 
“Member” and the definition of “Guarantor”;

“Authorized Person” means any Person you have designated 
as being authorized to ask us to open an Account and issue a 
Card to a Cardmember under this Agreement and to perform 
administrative duties for you under this Agreement;

“Balance Transfers” means the transfer of outstanding balances 
by a Cardmember to the Cardmember’s Account from credit 
accounts issued by Persons other than us or any of our affiliates;

“Card” means any MasterCard Business credit card we issue to 
a Cardmember on an Account in the Cardmember’s name at the 
request of an Authorized Person under this Agreement, and all 
renewals of and replacements for that credit card;

“Cardmember” means an individual for whom we have opened 
an Account and to whom we have issued a Card on that Account 
at the request of an Authorized Person under this Agreement;

“Cash Advance” means an advance of cash that is charged 
to a Cardmember’s Account with or in connection with the 
Cardmember’s Card (or any other eligible Account access 
card we have issued to the Cardmember), including, without 
limitation, cash-like transactions, which are transactions similar 
to cash, e.g., money orders, wire transfers, travelers’ cheques, 
Convenience Checks and gaming transactions (including betting, 
off-track betting, race track wagers, casino gaming chips, and 
lottery tickets);

“Consolidated Pay Account” means an account where one 
monthly statement is provided to the guarantor listing the 
transactions made and payments due for all authorized users on 
the account;

“Convenience Checks” means drafts that look like other checks, 
but are drawn on credit available in a Cardmember’s Account;

“Credit Limit” means the maximum amount of Debt that can 
remain outstanding and unpaid at any time in a Cardmember’s 
Account under this Agreement;

trusts, business trusts, corporations, not-for-profit organizations, 
municipality entities and other organizations, including  
public and quasi-public bodies, as well as individuals (i.e.,  
natural persons);

“Debt” means all amounts charged to a Cardmember’s Account 
from time to time and at any time with or in connection with 
the Cardmember’s Card, including Purchases, Cash Advances, 
Balance Transfers, Convenience Checks, Finance Charges , annual 
fees, transaction fees, late fees, attorneys’ fees, and other fees  
or charges;

“Due Date” means the date indicated as such on an Account 
Statement;

“Guarantor” means the Person, if any, identified in our records 
as the Person who has guaranteed payment of all Debt charged 
to each Account, or whom we consider as being the Person who 
has guaranteed such payment, and with respect to our records 
regarding the identity of such Person or our understanding 
regarding such identity, our records or understanding shall 
be conclusive; and if there is more than one Person who has 
guaranteed payment of all Debt, such Persons shall be jointly 
and severally liable to us for all Debt.

“Individual Pay Account” means an account where each 
Cardmember on the account receives a monthly statement 
listing only that Cardmember’s transactions made and  
payment due;

“Member” means the Person identified in our records as the 
Person who is primarily liable for the payment of all Debt 
charged to each Account, or whom we consider as being the 
Person primarily liable, and with respect to our records regarding 
the identity of such Person or our understanding regarding 
such identity, our records or understanding shall be conclusive; 
and if there is more than one Person who is primarily liable for 
the payment of all Debt charged to each Account, or whom we 
consider as being the Person primarily liable, such Persons shall 
be jointly and severally liable to us for all Debt.

“Minimum Payment” means the amount indicated as such on an 
Account Statement, which will be the greater of $40 or 2% of the 
total outstanding balance, unless the New Balance is less than 
$40 in which case the Minimum Payment will be the amount of 
the New Balance;

“New Balance” means the amount indicated as such on an 
Account Statement;

“Periodic Rate” means the percentage of Finance Charge that is 
applied to the average daily balance of Cash Advances, Balance 
Transfers, and Purchases for a period. A “monthly” Periodic 
Rate is used in this Agreement. The monthly Periodic Rate will 
be equal to 1/12th of its corresponding ANNUAL PERCENTAGE 
RATE and the monthly Periodic Rate will vary when the ANNUAL 
PERCENTAGE RATE varies.

“Person” means firms, companies, associations, general 
partnerships, limited partnerships, limited liability partnerships, 
limited liability limited partnerships, limited liability companies, 

“Personal Identification Number” means the personal 
identification number that a Cardmember has selected in our 
prescribed manner;

“Purchase” means a purchase of goods or services (or both) that 
is charged to a Cardmember’s Account with or in connection 
with the Cardmember’s Card;

“Statement Date” means the date indicated as such on an 
Account Statement; and

“Unauthorized Use” means the use of a Card or a Convenience 
Check by a Person, other than a Cardmember, who does not 
have actual, implied, or apparent authority for such use, and 
from which neither you nor a Cardmember receives any benefit. 
Unauthorized Use does not include or mean the use of a Card by 
you or any Person who has an ownership interest in you, or by a 
Cardmember or a Person authorized by a Cardmember, or by any 
other Person with an interest in or authority to transact business 
on the Account. Unauthorized Use also does not include or mean 
the use of a Card by a Cardmember for a purpose which is not 
primarily for or incidental to your business.

2. General Terms of Agreement.  
This Agreement applies to each Account and Card. This 
Agreement replaces all prior Business MasterCard agreements, if 
any, between you and us for each Account and Card.

You must promptly give us up-to-date credit and financially-
related information about you and about each Guarantor, if any, 
when we ask for it, as well as any other information we may 
request regarding your business and its operations.

You have the power and authority to perform and take all actions 
contemplated by this Agreement, and this Agreement is a valid, 
binding, and enforceable agreement against you in accordance 
with its terms. You will provide us upon request such documents 
or other information as we may deem necessary to verify your 
power and authority.

The section headings in this Agreement appear only for ease of 
reference purposes. They shall not control or affect the meaning 
or construction of any of the provisions of this Agreement.
Words in the masculine gender mean and include correlative 
words of the feminine and neuter genders and words importing 
the singular numbered meaning include the plural number, and 
vice versa.

This Agreement is governed by the laws of the State of Iowa, 
without regard to its conflicts of law provisions. To the extent 
that the terms of this Agreement conflict with applicable state 
or federal law, such state or federal law shall replace such 
conflicting terms only to the extent required by law. Unless 
expressly stated otherwise, all other terms of this Agreement 
shall remain in full force and effect.

3. Authorized Person. One or more individuals will be designated 
by you from time to time as an Authorized Person to assist 
you in the administration of this Agreement. The Authorized 
Person will be responsible for performing, on your behalf, such 
administrative duties as we may request and you have agreed to 
from time to time.

4. Account Opening/Card Issuance and Renewal. We will  
open an Account for, and will issue a Card on that Account to,  
a Cardmember at the request of an Authorized Person made  
on a fully completed request form that we have prescribed for 
this purpose.

Subject to our rights under the terms of this Agreement to 
cancel, revoke, or suspend a Cardmember’s Account and 
Card, we will issue renewal and replacement Cards to each 
Cardmember before the expiration date indicated on the Card 
last issued to each of them. We will continue to issue renewal 
and replacement Cards to each Cardmember in this way until 
you tell us to stop; the Cardmember tells us to stop; we cancel, 
revoke, or suspend the Cardmember’s Account or Card; or this 
Agreement is terminated. An emergency replacement Card will 
be issued by us to a Cardmember when required according to 
our customary operating procedures.

5. Account and Card Use. The use of each Account and Card 
is governed by this Agreement. A Cardmember may use the 
Cardmember’s Account and Card primarily for or incidental 
to your business to obtain advances of money from us 
through Purchase transactions, Cash Advance transactions, 
Balance Transfer transactions, Convenience Checks and other 
transactions we permit from time to time. An Account and Card 
may only be used by the Cardmember in whose name it has 
been opened or issued. A Card may not be used for any unlawful 
purpose. A Card may not be used in any country that is subject 
to economic sanctions imposed by the U.S. government, and 
any attempted use of a Card in such countries will be blocked. 
A Card may not be used in connection with online gambling or 
to fund any account that is set up to facilitate online gambling. 
A Cardmember must not use the Cardmember’s Card after the 
expiration date shown on it, or after the cancellation, revocation, 
or suspension of the Cardmember’s Account or Card or the 
termination of this Agreement. It is your responsibility to inform 
each Cardmember of the appropriate use of the Cardmember’s 
Card, and the use of a Card by a Cardmember in a manner which 
is not permitted under this Agreement shall not affect or limit 
your liability to us for all Debt charged to each Account.

6. Foreign Transactions. Outside the 50 states of the United 
States, a Cardmember may use a Card for Purchases from 
merchants or to receive a Cash Advance (other than a 
Convenience Check) in either a foreign currency or in U.S. 
dollars. MasterCard International will convert to U.S. dollars any 
charge or credit made to a Cardmember’s Account in currency 
other than U.S. dollars. The conversion will be pursuant to 
applicable MasterCard regulations in effect from time to time. 
Currently, the exchange rate between the transaction currency 
and the billing currency used for processing international 
transactions is (i) a rate selected by MasterCard from the 
range of rates available in wholesale currency markets for the 

applicable central processing date, which may vary from the rate 
MasterCard itself receives, or (ii) the government-mandated rate 
in effect for the applicable central processing date. In addition to 
the exchange rate, we will charge a processing fee of 1% of the 
transaction amount after its conversion into U.S. Dollars of each 
out of country Purchase or Cash Advance, regardless of whether 
the Purchase or Cash Advance is made in a foreign currency or 
U.S. dollars. We will post to the Cardmember’s Account the total 
amount of the transaction in U.S. dollars. The exchange rate may 
differ from the rate in effect on the date of the transaction.

7. Automated Banking Machines. We may from time to time 
permit Cardmembers to use Cards at automated banking 
machines and terminals (“ATM”). If such use is permitted, each 
Cardmember will be issued a Personal Identification Number 
(“PIN”) to use with the Cardmember’s Card to make transactions 
on the Cardmember’s Account at those ATMs, subject to the 
Cardmember’s agreement with us governing the use of the 
Cardmember’s PIN at ATMs. There is no charge for issuing a PIN 
for use with an account when it is sent via standard postage.

8. Debt Incurred Without a Card or Through Convenience 
Checks.
(a)   If a Cardmember incurs Debt without having presented the 
Cardmember’s Card to a merchant (such as for mail order, 
internet, or telephone Purchase), the legal effect will be the 
same as if the Cardmember had used the Cardmember’s 
Card and signed a Purchase or Cash Advance draft.

(b)   From time to time, we may supply Convenience Checks 

for use by Cardmembers. We may, based on the particular 
offers we make from time to time, provide Convenience 
Checks that will post and be treated as a Cash Advance. 
Convenience Checks must be written in U.S. dollars and may 
only be used by Cardmembers in accordance with the terms 
of this Agreement.

We may return a Convenience Check used by a Cardmember 
unpaid if: (i) the credit available under the Cardmember’s 
Credit Limit is less than the Convenience Check amount; (ii) the 
Cardmember’s Account is in default or the Cardmember’s Card 
use or Account has been cancelled, revoked, or suspended; (iii) 
the Convenience Check is improperly signed, has expired, or 
otherwise fails to conform to our regularly accepted standards 
for check payment; or (iv) this Agreement has been terminated.

The ability to process a stop payment request for a Convenience 
Check will depend on whether a check has cleared. After a 
Convenience Check has been processed, an opportunity to act on 
a stop payment request may no longer exist. If you desire to stop 
any payment, you must contact us by writing us at P.O. Box 14542, 
Des Moines, IA 50306-3542 or by calling the Cardmember Service 
telephone number listed on the Account Statement. Although 
every reasonable effort will be taken to accommodate your 
request, we will not have any liability for failing to do so. You may 
be required to present your stop payment request in writing to us 
within fourteen (14) days of you notifying us by telephone.

Convenience Checks, Balance Transfer checks, and other 
promotional programs may not be used to pay any of the Debt 

or any obligation either you or a Cardmember owes us or our 
affiliates. We reserve the right to decline any standard Annual 
Percentage Rate Balance Transfer transactions (including 
Balance Transfer checks) on your account. We will not have 
any responsibility or liability to you or any other Person if a 
Convenience Check is not honored or accepted by a merchant 
or any other Person. If we fail to properly or timely process a 
Convenience Check, or we improperly return a Convenience 
Check, we will ensure that the designated payee receives the 
amount of the Convenience Check and that such charge is added 
to your account balance, but will in no way be liable to you for 
any consequential, incidental or exemplary damages caused by 
the failure to properly or timely process the Convenience Check, 
or our improper return of the Convenience Check.

9. Limits. We will set an Aggregate Credit Limit for all Accounts, 
and we may change it from time to time by providing written 
notice of the change to you. We will tell you what the initial 
Aggregate Credit Limit is in writing in the welcome letter or 
before the time an Account is opened for a Cardmember under 
this Agreement. A portion of your Aggregate Credit Limit, called 
the cash advance limit, is available for Cash Advances. We 
disclose your cash advance limit in the welcome letter. You will 
not permit the Debt you owe to us at any time to exceed the 
Aggregate Credit Limit. However, we may (but are not required 
to, even if we have done so before) permit that Debt to exceed 
the Aggregate Credit Limit we set from time to time.

We will set a Credit Limit for each Cardmember’s Account, and 
we may change the Credit Limit for a Cardmember’s Account 
periodically. You will ensure that each Cardmember observes 
the Cardmember’s Credit Limit. You will not permit the Debt 
you owe to us in respect to an Account at any time to exceed 
the Credit Limit for that Account. However, we may (but are not 
required to, even if we have done so before) permit that Debt to 
exceed that Credit Limit we set from time to time.

Without further notice and as allowed by applicable law, we may 
place limits on or stop the ability of you or any Cardmember to 
make Cash Advances and/or Balance Transfers on any Account.

10. Account Statements and Verification. We will send an 
Account Statement to the Guarantor for Consolidated Pay 
Accounts and/or to the Authorized Person for Individual Pay 
Accounts, directed to the Cardmember’s address last provided 
to us by the Authorized Person. Changes in a Cardmember’s 
address must be received by us no later than five (5) days before 
the date a billing cycle closes in order for us to provide the 
Account Statement to the new address. You will ensure that 
each Cardmember promptly examines all of the Cardmember’s 
Account Statements and each entry and balance recorded 
in them. If we deem your account uncollectable or institute 
collection proceedings through an outside agency or attorney, 
we may stop sending you Account Statements. Periodic finance 
charges and fees may continue to accrue even if we stop sending 
Account Statements.

11. Liability for Debt. Except as specifically provided to the 
contrary in this Agreement, you will be liable to us for all Debt 
charged to each Account and shall pay to us all Debt charged to 

each Account, no matter how it is incurred, for what it is incurred 
(e.g., a Purchase by a Cardmember which is not primarily for 
or incidental to your business) or who has incurred it, and even 
though we may send Account Statements to Cardmembers and 
not to you.

However, we will provide Account Statements or other 
information about that Debt to you at your request.

Each Cardmember shall be individually liable for the payment 
of, and shall pay on our demand all Debt which may be owing 
from time to time from or on account of any and all use by a 
Cardmember, or anyone who has actual, implied or apparent 
authority, of any Card or Account which is not authorized under 
this Agreement (i.e., a use not primarily for or incidental to your 
business). The liability of the Cardmember shall be in addition 
to and not in lieu of your primary liability and the liability of any 
Guarantors, which shall continue for any and all uses as provided 
in this Agreement.

Any Guarantors shall be jointly and severally liable to us for all 
Debt charged to each Account, no matter how it is incurred, for 
what it is incurred (e.g., a Purchase by a Cardmember which 
is not primarily for or incidental to your business) or who has 
incurred it. The liability of any Guarantors shall be in addition to 
and not in lieu of your primary liability, which shall continue for 
any and all uses as provided in this Agreement.

12. Unauthorized Use of Card or Convenience Check – 
Limitation of Liability. You must tell us or the Cardmember must 
tell us at once if the Cardmember’s Card or a Convenience Check 
is lost or stolen, if you suspect or the Cardmember suspects 
the Card or a Convenience Check is lost or stolen, if there has 
been an Unauthorized Use of the Cardmember’s Card or a 
Convenience Check. You may do this or the Cardmember may do 
this by telephoning us immediately at the Cardmember Services 
number on the Account Statement. You will follow such notice 
with a written confirmation if we request you to do so. We may 
require you to provide certain information in writing to help us 
find out what happened and to comply with our investigation. 
You must identify for us the charges that were not made by you 
or the Cardmember, or someone not authorized by you or the 
Cardmember, and from which you received no benefit.

Except as provided below in this paragraph, you will not be liable 
to us and a Cardmember will not be liable to us for any Debt 
resulting from an Unauthorized Use of a Card or Convenience 
Check, provided you tell us or the Cardmember tells us about 
the Unauthorized Use of the Card or Convenience Check within 
sixty (60) calendar days of the mailing date of the first Account 
Statement showing the Unauthorized Use. If you do not tell us 
or the Cardmember does not tell us about the Unauthorized Use 
within such sixty (60) calendar day period, or if we reasonably 
determine, based on substantial evidence, that you or the 
Cardmember were grossly negligent (which may include delay 
for an unreasonable time in reporting an Unauthorized Use) or 
fraudulent in the handling of the Card or the Account, you will be 
liable for the Unauthorized Use. Subject to the exceptions below 
in this paragraph, your liability, however, for any Debt resulting 
from an Unauthorized Use of a Card or Convenience Check 

will be limited to the lesser of $50 or the amount of money, 
property, labor, or services obtained by the Unauthorized Use 
before notification to us of the Unauthorized Use, unless you 
or the Cardmember are determined to have been fraudulent in 
the handling of the Card or Account, or ten (10) or more Cards 
are issued by us under this Agreement to Cardmembers at the 
request of an Authorized Person. If we determine that you or the 
Cardmember have been fraudulent in the handling of the Card 
or the Account, or ten (10) or more Cards are issued by us under 
this Agreement to Cardmembers at the request of an Authorized 
Person, then your liability will be unlimited. Subject to any 
limitations on liability under applicable law or any agreements 
with us governing the use of PINs or ATMs, your liability will also 
be unlimited if the Unauthorized Use involved an ATM or PIN 
transaction that was not processed by MasterCard.

You will not be liable to us for any Debt resulting from an 
Unauthorized Use that is incurred after the time you tell us or 
the Cardmember tells us about the loss, theft or Unauthorized 
Use of the Card or Convenience Check.

13. Payment of Debt.
(a)   Subject to Sections 13(b), 13(c) and Section 19, you may pay 
the Debt you owe to us in respect to each Cardmember’s 
Account in full or in part at any time.

(b)   Subject to Section 13(c) and Section 19, you must make 

one of the following payments of the Debt shown on each 
Account Statement by the Due Date shown thereon in order 
to keep the Account up-to-date:

(i)  a payment in full of the New Balance shown on the 

current Account Statement if that New Balance is less 
than $40.00; or

(ii) a payment of not less than the Minimum Payment shown 
on the current Account Statement if the New Balance 
shown on that Account Statement is $40.00 or more.

(c) You must also pay the amount of any Debt that exceeds the 
Credit Limit for a Cardmember’s Account at once to keep that 
Account up-to-date. You must pay this excess even though we 
may not have yet sent an Account Statement to the Cardmember 
on which that excess appears.

(d) You must keep each Cardmember’s Account up-to-date 
at all times even when we are delayed in or prevented from 
sending, for any reason, any one or more Account Statements 
to Cardmembers. You must contact us by telephone using the 
Cardmember Services number on the Account Statement at least 
once a month during such a delay or interruption to obtain any 
payment information you do not have and need to know in order 
for you to comply with your obligations under this Section.

(e) If any payment made by you in respect of a Cardmember’s 
Account is not honored, or if we must return it to you because 
it cannot be processed, the applicable fee will be charged under 
Section 15 and Card privileges may be revoked or suspended by 
us under Section 18.

14. Application of Payments. We may allocate payments on the 
Debt in the manner we, in our sole discretion, deem appropriate, 
unless applicable laws mandate a specific order for application 
of payments. Unless we otherwise agree, any payment must be 
made in U.S. dollars.

15. ANNUAL PERCENTAGE RATE, FINANCE CHARGES and  
Other Fees.
(a)   FINANCE CHARGES reflect the cost of credit to you. Your 

FINANCE CHARGES for any billing cycle will equal the total of 
(i) the amount of FINANCE CHARGES constituting “interest” 
and (ii) the amount of transaction fees and other fees or 
charges that are considered FINANCE CHARGES.
(b)   The “interest” portion of the FINANCE CHARGES is 

computed through use of monthly periodic rates (monthly 
“Periodic Rate” or monthly “Periodic Rates”) and their 
corresponding ANNUAL PERCENTAGE RATES. Each monthly 
Periodic Rate for transactions posting as Purchases, Cash 
Advances or Balance Transfers will be equal to 1/12th of its 
corresponding ANNUAL PERCENTAGE RATE. Subject to the 
provisions of Section 15(f), the monthly Periodic Rate and 
corresponding ANNUAL PERCENTAGE RATE for transactions 
posting as Purchases is a variable rate that may change from 
time to time based on changes to an Index identified below.

(c)   The monthly Periodic Rate and corresponding ANNUAL 

PERCENTAGE RATE for transactions posting as Purchases 
may increase or decrease from time to time according to 
the movements up or down of the following index (“Index”): 
the “Prime Rate,” as published in The Wall Street Journal 
up to three business days prior to the Account Statement 
closing date for that period. If The Wall Street Journal does 
not publish the Prime Rate, we may substitute a similar 
published rate. Any variable rate adjustment based on an 
Index change will be effective as of the beginning date 
of the Billing Cycle for which we calculate the ANNUAL 
PERCENTAGE RATE. We apply the new applicable rate to all 
existing Debt, including New Balances, outstanding balances 
and other transactions, subject to that variable rate. Any 
increase in the Index may result in an increase in the 
FINANCE CHARGES, Minimum Payment, New Balances and 
the Debt.

(d)   Subject to the provisions of Section 15(f), the interest rate 

for transactions posting as Purchases will be determined by 
adding to the Prime Rate a margin as shown on the welcome 
letter, resulting in a daily Periodic Rate and a corresponding 
ANNUAL PERCENTAGE RATE also as shown on the welcome 
letter and statement. Subject to the provisions of Section 
15(f), the ANNUAL PERCENTAGE RATE for transactions 
posting as Cash Advances may vary monthly. We will assess 
a transaction fee for ATM and bank Cash Advances and for 
use of Convenience Checks and other credit instruments or 
devices intended for use in obtaining Cash Advances. For 
each Cash Advance, we will add a FINANCE CHARGE equal to 
4% of the Cash Advance amount, but not less than $10.00.

(e)   Subject to the provisions of Section 15(f), the ANNUAL 
PERCENTAGE RATE for transactions posting as Balance 
Transfers may vary monthly and will be the same as the 
ANNUAL PERCENTAGE RATE and corresponding monthly 
Periodic Rate used for Cash Advances.

(f)   Upon the occurrence of an “Adjustment Event,” each 
monthly Periodic Rate and corresponding ANNUAL 
PERCENTAGE RATE in effect for all Debt, including New 
Balances, outstanding balances, and other transactions, 
will increase from their standard, non-delinquency rates 
or any introductory or promotional rates as set forth or 
referenced in this Section 15 to a “Delinquency Rate.” The 
Delinquency Rate will take effect and apply to all Debt, 
including New Balances, outstanding balances and other 
transactions, as of the first day of the billing cycle in which 
the Adjustment Event occurs. An Adjustment Event occurs 
whenever a Minimum Payment is thirty (30) days past due. 
An “Adjustment Event” for introductory or promotional rates 
occurs on the first date of delinquency. Any introductory 
or promotional rate will expire upon an Adjustment 
Event and will be changed to the Delinquency Rate. The 
Delinquency Rate may vary monthly. The Delinquency Rate 
for all Debt will remain in effect until the closing date of the 
sixth consecutive billing cycle that you are “current” on all 
payments (that is, no Minimum Payments past due). On the 
first day of the billing cycle following your sixth consecutive 
current cycle, the daily Periodic Rate and corresponding 
ANNUAL PERCENTAGE RATE for all Debt will decrease 
to their standard, non-delinquency rates, but not any 
introductory or promotional rates.

(g)   We calculate the periodic rate or “interest” portion of the 

FINANCE CHARGE by multiplying the applicable monthly 
Periodic Rate by the average daily balance (including new 
transactions) of the Purchase, Cash Advance, and Balance 
Transfer categories subject to the “interest” portion of the 
FINANCE CHARGE (“Amounts Subject to Interest”), and then 
add together the resulting “interest” from each category. 
We determine the average daily balance separately for the 
Purchase, Cash Advance and Balance Transfer categories. 
To get the average daily balance in each category, we add 
together the daily balances in those categories for the billing 
cycle and divide the result by the number of days in the billing 
cycle. We determine the daily balances each day by taking 
the beginning balance of each of those Account categories 
(including any billed but unpaid interest, fees and other 
charges), add any new interest, fees and other charges, and 
subtract any payments or credits applied against the Account 
balances that day. We add Purchases, Cash Advances, and 
Balance Transfers to the appropriate balances for those 
categories on the applicable transaction dates. Billed but 
unpaid interest on Purchases, Cash Advances and Balance 
Transfers is added to the appropriate balances for those 
categories each month on the statement date. Billed but 
unpaid Cash Advance transaction fees are added to the Cash 
Advance balance of an Account on the transaction date. Any 
billed but unpaid fees on Purchases and other charges are 
added to the Purchase balance of an Account on the date 
they are charged to the Account. Billed and unpaid interest, 
fees and other charges will be included in the average daily 
balance of all Accounts that accrue interest (the “Amount 
Subject to Interest”) and will reduce the amount of credit 
available. If the average daily balance of any category of 
Purchase, Cash Advance or Balance Transfer is at least $0.01 
in any billing cycle, an Account will be subject to a minimum 
FINANCE CHARGE of $0.50 in that cycle.

(h)   You will not pay interest on the amount of any Purchase 

appearing on an Account Statement for the first time if all 
Debt shown on that Account Statement is paid in full by 
that Account Statement’s Due Date, and all Debt shown 
on the preceding Account Statement was also paid in full 
by that preceding Account Statement’s Due Date. There is 
no grace period for transactions that post to an Account as 
Cash Advances or Balance Transfers. Those transactions are 
subject to interest from the date they are made until the 
date they are paid in full.

(i)   We may, at our option, offer you limited time introductory 

or promotional interest rates for all or part of the Purchase, 
Cash Advance, or Balance Transfer balances in an Account. 
We will tell you the introductory or promotional rate and the 
period of time during which it is in effect in the offer. Unless 
an offer states otherwise, an introductory or promotional 
rate will generally remain in effect until the last day of the 
billing cycle in which the introductory or promotional rate 
expires, the date an Account is closed to future transactions, 
or the date an Account becomes past due because a 
Minimum Payment is not received in full on or before 
its Due Date, whichever occurs sooner. Any introductory 
or promotional rate that applies to New Balances or 
outstanding balances will increase to the standard rate that 
would otherwise apply, or when appropriate under the 
terms of this Agreement, a Delinquency Rate will be applied 
if we do not receive at least the Minimum Payment due by 
the Due Date shown on an Account statement in any month.

(j)   In addition to the “interest” portion of the FINANCE 

CHARGES, for each Account you agree to pay the following 
FINANCE CHARGES, as well as the other fees and charges 
listed below:

(i)   A FINANCE CHARGE in the form of a Promotional 

Transaction Fee for each Promotion received during a 
billing cycle – the fee will be in the amount set forth in 
any Promotional Discount offer extended by us and will be 
charged to the Purchase, Cash Advance, or Balance Transfer 
balance of each Account as set forth in the Promotional 
Discount offer;
(ii)   A Late Payment Fee in the amount of $20.00 – the fee 
will be charged to the Purchase balance of an Account 
if the Minimum Payment for that Account is not 
received by us by the end of business 5 days after the 
Due Date shown on the Account Statement;
(iii)   An Over-limit fee of $20.00 – the fee will be charged 
to the Purchase balance of an Account if the 
outstanding Debt on the Account exceeds the Credit 
Limit established for the Account at any time during 
the Account’s billing cycle;

(iv)   An Annual Fee of $39.00 – the fee will be charged 
to the Purchase balance of an Account on the first 
anniversary of the account opening and every year 
thereafter;

(v)   A Returned Payment Fee of $20.00 – the fee will be 

charged to the Purchase balance of an Account if any 
payment is not honored or if we must return it to you 
because it cannot be processed;

(vi)   A Returned Convenience Check Fee of $20.00 –  

the fee will be charged to the Purchase balance of  
an Account or the Cash Advance balance of an 

Account depending on how the Convenience Check is 
being posted;

(vii)   A Convenience Check Stop-Payment fee of $20.00 – 

the fee will be charged to the Purchase balance of an 
Account or the Cash Advance balance depending on 
how the Convenience Check is being posted; and
(viii)  A Convenience Check copy fee of $20.00 – the fee will 
be charged to the Purchase balance of an Account for 
each copy of a returned convenience check;
(ix)   A Document copy fee of $15.00 – the fee will be 
charged to the Purchase balance of an Account 
for each copy of a monthly statement, sales slip, 
refund slip, or Cash Advance slip that you request 
(there will be no charge for documentation requests 
made in connection with a billing error notice, if our 
investigation indicates a billing error occurred);
Research fee of $15.00 / hour – the fee will be 
charged to the Purchase balance of an Account for 
time we spend to research an item regarding your 
account at your request (there will be no charge for 
documentation requests made in connection with 
a billing error notice, if our investigation indicates a 
billing error occurred);

(x)  

(xi)   A Rush PIN fee of $10.00 – the fee will be charged 
to the Purchase balance of an Account if you or a 
Cardmember request a PIN rush-delivered via Fed Ex;

(xii)   A Credit Card Replacement fee – we may add a fee 

to the Purchase balance of an Account if you or a 
Cardmember request a replacement card. This fee 
is based on the delivery type requested. If you or a 
Cardmember request a replacement via standard 
mailing the fee is $5.00. If you or a Cardmember 
request a replacement which is shipped 2 business 
days after the request is received the fee is $25.00. 
If you or a Cardmember request a non-emergency 
delivery shipped via Fed Ex 1 day after the request is 
received the fee is $65.00. If you or a Cardmember 
request an emergency card replacement which is 
shipped at the time the request is received the fee  
is $105.00;

(xiii)  A photo card fee of $5.00 – the fee for each 

customized image a Cardmember requests be printed 
on their card.

16. Security Interest. Under this Agreement, no security interest 
is retained in your property to secure the Debt; provided, 
however, if we are permitted by law to retain a security interest 
in your property to secure the Debt and a security interest is 
retained or may in the future be retained by us in a separate 
security agreement or other agreement which references 
this Agreement or your obligations to us in general, then that 
security interest shall secure the Debt. To the extent any one or 
more Persons are identified in our records as being a Guarantor, 
or to the extent we consider one or more Persons as being a 
Guarantor, then, in such event, this Agreement and the Debt is 
secured by the unconditional, joint and several guaranty of each 
Guarantor as set forth in this Agreement.

17. Changes in Interest Rates, Fees, and Charges to this 
Agreement. We may change the interest rates, transaction fees, 

late fees, and other fees or charges for each Cardmember’s 
Account and this Agreement periodically. We may also change 
other terms and conditions of this Agreement periodically. You 
will be given at least thirty (30) days’ prior written notice of each 
change, directed to your address last appearing on our records. 
If we have not received written notice of your desire to opt out 
of the change prior to the effective date of the change, it will 
mean that you have agreed to the change. If you opt out of the 
change prior to the change becoming effective, all Accounts will 
be closed and you will have the right to continue to pay the Debt 
in the same manner and under the same terms and conditions as 
then in effect under this Agreement.

18. Card Cancellation/Revocation or Suspension of Use.  
You may cancel a Cardmember’s Account and Card for 
any reason (including, without limitation, the death of the 
Cardmember) by providing us with written notice of cancellation 
of that Account and Card. Subject to Section 12, you will be 
liable to us for all Debt, howsoever and by whosoever incurred. 
If the Debt outstanding in a Cardmember’s Account exceeds 
the Credit Limit at any time, we may suspend, without notice, 
the Cardmember’s right to use the Cardmember’s Account and 
Card and all services we provide to the Cardmember under this 
Agreement until such time as that excess is paid to us in full.
We may cancel and revoke a Cardmember’s right to use the 
Cardmember’s Account and Card at any time without notice. The 
Cardmember must also promptly surrender the Cardmember’s 
Card to us at our request or at your request.

19. Termination.
(a)   You or we may terminate this Agreement at any time by 

giving written notice of termination to the other. We must 
direct our written notice to your address last appearing on 
our records. Your written notice must be directed to us at 
our address, P.O. Box 14542, Des Moines, IA 50306-3542.

(b)   The occurrence of any one of the following events has the 
effect of putting you in default and we may terminate this 
Agreement at once without giving you any notice, if:
(i) 
(ii) 
(iii) 

you become insolvent or bankrupt;
someone files a petition in bankruptcy against you;
you make an unauthorized assignment for the benefit  
of your creditors;

(iv)   you institute, or someone else institutes, any 
proceedings for the dissolution, liquidation or 
winding-up of your affairs;
you institute, or someone else institutes, any other 
type of insolvency proceeding involving your assets 
under the U.S. Bankruptcy Code or otherwise;
(vi)   you cease or give notice of your intention to cease 

(v)  

to carry on business or make or agree to make a bulk 
sale of your assets without complying with applicable 
laws, or you commit an act of bankruptcy;
(vii)   you fail to pay any Debt or to perform any other 

obligation to us as required under this Agreement;

(ix)  

(viii)  you make any statement or representation to us that 
is untrue in any material respect when made;
there is, in our opinion, a material adverse change in 
your financial condition; or
any Guarantor terminates such Guarantor’s guaranty 
of the Debt.

(x)  

(c)   Upon termination of this Agreement under this Section 

19, you must pay all Debt for each Account to us at once, 
without our having to make demand on you for payment, 
and you must ensure that each Cardmember destroys the 
Cardmember’s Card. If you gave the financial institution 
guaranteeing your Account a security interest or other 
deposit, we may use the deposit amount to pay any amount 
you owe.

(d)   On termination of this Agreement under this Section 19, 
interest shall continue to accrue on all Debt and it will 
accrue at the ANNUAL PERCENTAGE RATE described in 
Section 15 as the “Delinquency Rate” until the Debt is 
paid in full. Also, termination of this Agreement under this 
Section 19 shall not terminate:
(i)  

(ii)  

(iii)  

your obligations to us on all transactions and other 
matters under this Agreement that occur prior to the 
date of such termination;
all interest and all fees and other charges as shall have 
accrued or as shall continue to occur or accrue to us 
with respect to such transactions;
the indemnity provided by you in Section 23 of this 
Agreement, the arbitration provisions in Section 24, 
the waiver of jury trial provision of Section 25 and any 
other provisions intended by their terms to survive 
termination.

(e)   In addition to your other liabilities to us under this 

Agreement, if you fail to comply with your obligations to 
us under this Agreement, you will be liable to us for: (i) all 
court costs and reasonable attorneys’ fees and expenses we 
incur through any legal process to recover any Debt, and (ii) 
all costs and expenses we incur in reclaiming any Card.

20. Problems with a Purchase. Subject to Section 33:
(a)   we are not responsible for any problem a Cardmember has 

with any Purchase; and

(b)   if the Cardmember has a problem or dispute with a 

merchant regarding a Purchase, you must still pay all Debt 
as required by this Agreement and settle the problem or 
dispute directly with the merchant.

We will not be responsible if a Card is not honored by a 
merchant at any time and, subject to Section 33, for any other 
problem or dispute a Cardmember may have with a merchant. 
As well, we reserve the right to deny authorization of any 
Purchase, Balance Transfer, or Cash Advance at any time.

21. Settling a Disputed Balance - Payment in Full. If you want 
to settle a disagreement with us about any amount you owe by 
sending a check on which you have written “Payment in Full” 
or similar language, you must send us a written explanation of 
the disagreement or dispute and any such check to P.O. Box 
14542, Des Moines, IA 50306-3542. (See “Your Billing Rights” in 
Section 33 for complete details.) This address is different than 
the address you use to make scheduled payments on the Debt. 
Writing “Payment in Full” or similar language on the check will 
not be enough to resolve the dispute. If we collect a check or any 
payment instrument marked “Paid in Full” that you sent to an 
address other than the one provided in this Section (such as the 
address at which you normally make payments), we will not have 

waived our right to collect any remaining amount you owe us 
under the terms of this Agreement.

22. Disclaimers of Warranties and Liabilities. You specifically 
disclaim as to us, MasterCard U.S.A., Inc., and MasterCard 
International all warranties of any kind, express or implied, 
arising out of or related to the Card or any core service or 
supplemental services provided in connection therewith, 
including, but not limited to, any warranty of MERCHANTABILITY, 
FITNESS FOR A PARTICULAR PURPOSE or NONINFRINGEMENT, 
each of which is expressly waived.

23. Indemnification. You shall indemnify and hold harmless 
us and our affiliates, as well as our and their respective 
shareholders, directors, officers, members, managers, 
employees, and agents, from and against any and all losses, 
claims, damages, liabilities, judgments, or amounts paid in 
settlement (or actions, suits, or proceedings, or investigations 
in respect thereof), including reasonable attorneys’ fees 
(collectively, “Losses”) resulting from, relating to or arising 
out of this Agreement except to the extent such Losses solely 
result from, arise out of or relate to the gross negligence or 
willful misconduct of us, our affiliates, or our or their respective 
shareholders, directors, officers, members, managers, 
employees, or agents.

24. Arbitration. All irresolvable disputes or claims concerning 
this Agreement (excluding termination of this Agreement by 
us as provided in this Agreement) will be decided by binding 
arbitration under the expedited procedures of the Commercial 
Financial Disputes Arbitration Rules of the American Arbitration 
Association (“AAA”) and Title 9 of the U.S. Code. Arbitration 
hearings will be held in Des Moines, Iowa, or such other location 
as mutually agreed upon. A single arbitrator will be appointed 
by the AAA and will be a judge or attorney with experience or 
knowledge in banking transactions. The arbitrator will award 
the filing and arbitrator fees to the prevailing party. A judgment 
on the award of the arbitrator may be entered by a court. All 
disputes or claims regarding any matter which is the subject of 
this Agreement shall be brought within one year from the date 
of the accrual of the cause of action. You agree that we shall be 
entitled to temporary or permanent injunctive relief from any 
court of competent jurisdiction to enforce the provisions of and 
to restrain or prevent any breach, default or further violation by 
you under this Agreement, without being required to post any 
bond or other security whatsoever. In the event of arbitration 
or litigation regarding the term, performance or subject matter 
of this Agreement, the substantially prevailing party shall be 
entitled to recover its reasonable attorneys’ fees.

25. Waiver of Jury Trial. To the extent permitted by applicable 
law, you expressly and irrevocably waive any and all rights you 
may have to a trial by jury in any action, suit or proceeding 
of any nature resulting from, arising out of or related to this 
Agreement. You acknowledge that the foregoing waiver is 
knowing and voluntary.

26. Exchange of Information Between You and Us.
(a)   Information about a Cardmember’s use of the 

Cardmember’s Account and Card, and pertinent information 
about any reimbursement of Debt received by the 
Cardmember from you, Cardmember employment status 
and location, and any other related Cardmember tracking 
information may be exchanged between you and us.
(b)   You understand that by providing your mailing address, 
e-mail address, telephone number or facsimile number 
to us, you are consenting to receiving from us and other 
members of TMG Financial Services, Inc. (defined in Section 
27(e) below) communications sent by or on our behalf, or by 
or on the behalf of any member of TMG Financial Services, 
Inc., via regular mail, e-mail, telephone, facsimile or other 
form of communication or delivery of a communication.

27. Account and Card Ownership, and Assignment. We are the 
owner of each Account and Card. Neither a Cardmember nor 
you have the right to assign or transfer this Agreement, any Card 
or any Account to anyone else, and any transfer or attempted 
transfer shall be null and void. We may assign this Agreement 
to any affiliated Person or to any other Person who is a bank, 
financial institution or other creditor. We may also assign or 
delegate certain of our rights and responsibilities under this 
Agreement to third party service providers, and such third party 
service providers may do the same.

28. Notice. All notices under this Agreement shall be given in the 
following manner: Unless otherwise specified in this Agreement, 
all notices permitted or required by this Agreement shall be in 
writing and shall be deemed to have been duly given if sent by 
personal delivery, mail, telegram, or facsimile, addressed, in  
the case of notice to us, to P.O. Box 14542, Des Moines, IA 
50306-3542 and in the case of you, to your address as shown  
on our records.

29. Complete Agreement, etc. This Agreement constitutes the 
complete agreement between you and us with respect to the 
subject matter hereof. No failure on our part to exercise, and 
no delay by us in exercising, any right under this Agreement will 
operate as a waiver thereof; nor will any single or partial exercise 
by us of any right under this Agreement preclude any other or 
further exercise thereof, or the exercise of any other right, by us 
under this Agreement.

30. Equal Credit Opportunity Disclosure. The federal Equal 
Credit Opportunity Act prohibits creditors from discriminating 
against credit applicants on the basis of race, color, religion, 
national origin, sex, marital status, age (provided that the 
applicant has the legal capacity to enter into a binding contract), 
because all or part of the applicant’s income derives from any 
public assistance program, or because the applicant has in good 
faith exercised any right under the Consumer Credit Protection 
Act. If you believe you have been discriminated against, you 
should send your complaint to: P.O. Box 14542, Des Moines, IA 
50306-3542.

31. Credit Bureau Disputes. If you believe we inaccurately 
reported credit history information about you or any of the 
Accounts to a credit bureau, you may telephone us using the 
Cardmember Services number on the Account Statement or 
write us at P.O. Box 14542, Des Moines, IA 50306-3542. We will 

promptly investigate the matter and if we agree with you, we will 
contact each credit reporting agency to which we reported and 
request a correction. If, after our investigation, we disagree with 
you, we will inform you in writing or by telephone how to submit 
a statement to those agencies for inclusion in your credit report.

32. Our Billing Rights.
THE FOLLOWING SETS FORTH YOUR BILLING RIGHTS AND YOU 
WILL KEEP THIS NOTICE FOR FUTURE USE
In case of errors or questions about a transaction, you will notify 
us in writing at P.O. Box 14542, Des Moines, IA 50306-3542. You 
will write to us as soon as possible, but no later than sixty (60) 
days after we sent the first Account Statement where the error 
or problem appeared.

You will write to us on a separate sheet of paper and will not 
send the notice on the Account Statement or other material that 
accompanied the Account Statement. You also can telephone 
us using the Cardmember Services number on the Account 
Statement, but doing so will not preserve your legal rights 
under this Section or applicable law. In your letter to us, you will 
include the following information:
(i)  your name and the Cardmember’s name and the number of 

the Account on which there is an error or question;

(ii)   the dollar amount of the suspected error;
(iii)  the date the transaction occurred (if possible); and
(iv)  a description of the error and an explanation in as clear 

terms as possible of why you believe there is an error, 
or if you need more information, you will describe the 
information you need.

(v)   your signature

If you have authorized us to pay your Account Statement 
automatically from a deposit account, you can stop the payment 
on any amount you believe is wrong. To stop the payment, your 
letter must reach us three business days before the automatic 
payment is scheduled to occur.

We must acknowledge your letter within thirty (30) days unless 
we have corrected the error by then. Within 90 days we must 
either correct the error or explain why we believe the statement 
was correct. After we receive your letter, we cannot try to collect 
any amount you questioned or report the Account as delinquent. 
We can continue to bill you for the amount you questioned, 
including Finance Charges, and we can apply any unpaid amount 
against your Credit Limit. You do not have to pay any questioned 
amount while we are investigating, but you are still obligated to 
pay the parts of the Account that are not in question.

If we find that we made a mistake on your Account Statement, 
you will not have to pay any Finance Charges related to the 
questioned amount. If we did not make a mistake, you may have 
to pay Finance Charges, and you will have to make up any missed 
payments on the questioned amount. In either case, we will 
send you a statement of the amount you owe and the date that 
it is due. If you fail to pay the amount that we think you owe, we 
may report you as delinquent. However, if our explanation does 
not satisfy you and you write to us within ten (10) days telling 
us that you still refuse to pay, we must tell anyone we report 
you to that you have a question about your Account Statement. 

the preceding sentence, such termination shall apply only 
to credit extended by us after the end of said thirty (30) day 
notice period and such termination shall not apply to any other 
Debt. Termination of this guaranty by one Guarantor shall not 
terminate the guaranty of any other Guarantor. If suit is brought 
to enforce this guaranty agreement, each Guarantor agrees 
to pay our reasonable attorneys’ fees, or those of any holder, 
assignee or transferee of this Agreement. The consideration for 
this guaranty agreement is our agreement to extend credit as 
set forth in this Agreement and this guaranty agreement is being 
given to enhance your credit, and has been offered by each 
Guarantor to us and accepted by us for such purpose and to 
further secure and ensure payment of all of the Debt owing from 
time to time under this Agreement or any Account.

34. Application. This Agreement is incorporated in and has 
been made a part of the application for credit you gave us at the 
time you applied for the credit to be extended by us under or 
pursuant to this Agreement.

And, we must tell you the name of anyone we reported you to. 
We must tell anyone we report you to that the matter has been 
settled between us when it finally is.

We may use a microfilm, electronic, or other reproduction of any 
Purchase or Cash Advance draft or other document evidencing 
Debt to establish your liability for the Debt. Upon request, 
we will provide you with a microfilm, electronic, or other 
reproduction within a reasonable time frame of any Purchase or 
Cash Advance draft or other document evidencing the Debt.

Special Rules for Credit Card Purchases:
If you have a problem with the quality of property or services 
that are purchased with a Card issued pursuant to this 
Agreement and you have tried in good faith to correct the 
problem with the merchant, under certain circumstances you 
may have the right not to pay the remaining amount due on 
the property or services. There are two limitations on this 
right and both must apply: (i) the purchase must have been 
made in the Cardmember’s home state or, if not within the 
Cardmember’s home state, within one hundred (100) miles 
of the Cardmember’s current mailing address, and (ii) the 
purchase price must have been more than $50. The forgoing 
two conditions do not apply if we own or operate the merchant 
or if we mailed the advertisement for the property or services 
to the Cardmember. This paragraph does not apply to the use 
of a check guarantee card or a debit card in connection with 
an overdraft credit plan, or to a check guarantee card used 
in connection with cash advance checks. This paragraph only 
applies to a transaction that would be considered a consumer 
credit transaction under applicable law.

33. Guaranty Agreement. Each Guarantor, jointly and severally 
(if more than one), unconditionally guarantees the payment, 
when due, to us, or any holder, assignee or transferee of this 
Agreement or any Account, of all Debt (no matter how it is 
incurred, for what it is incurred or who has incurred it) from 
time to time owing under this Agreement or any Account and 
the payment upon demand of the entire amount of Debt owing 
under this Agreement or any Account in the event of default in 
payment by any Person or Persons obligated thereon.

Each Guarantor, to the extent not prohibited by law: (i) waives 
notice of acceptance of this guaranty; (ii) waives notice of, or 
any right of prior approval or consent with respect to, or any 
defense or claim arising out of or relating to any extensions in 
time of payment or other indulgences or concessions granted 
or extended to any Person or Persons obligated under this 
Agreement or any Account; and (iii) waives all other notices 
and rights to which each Guarantor is otherwise entitled by 
law or in equity; and each Guarantor agrees to pay all amounts 
owing hereunder, upon demand, without requiring any action 
or proceeding against any Person or Persons obligated under 
this Agreement or any Account, or any of their property. This 
guaranty is a present guaranty and it shall continue until 
thirty (30) calendar days after the date of receipt by us of a 
written termination of guaranty executed by any Guarantor 
so terminating such Guarantor’s guaranty, such notice to be 
given to us at P.O. Box 14542, Des Moines, IA 50306-3542. 
If this guaranty is terminated by a Guarantor as provided in