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<br />-I <br /> <br />decision whether we should payor return exception items, you may request a copy of <br />any exception item. <br /> <br />AUTHORIZED PERSONS <br />Before using a Positive Pay Service, you give us a written list, in a form acceptable to us, <br />of the persons authorized by you to perform certain duties in connection with such <br />Service. <br /> <br />ONLINE OPTION <br />You may access the daily reports of exception items via one of our online systems. Using <br />that system, you must then notify us which exception items to payor which to return. <br /> <br />You may request photocopies of exception items, which we will fax to you, as more fully <br />described in the applicable User Documentation. Where available, you may arrange to <br />receive and display electronic images of exception items. <br /> <br />MANUAL OPTION <br /> <br />We provide you a report of exception items. You must then notify us which items to pay <br />or which to return. <br /> <br />-- <br /> <br />ACKNOWLEDGMENTS <br />You authorize us to return checks or to pay checks in accordance with your instructions <br />and the default procedure in the applicable User Documentation. We will have no liability <br />for payment of a check which is unauthorized or fraudulent if (0 the check is included in <br />a report of exception items, (ii) you have not selected a return default for exception items <br />and (iii) you do not give us timely instructions to return the check. <br /> <br />You acknowledge that our Positive Pay Services do not preclude our standard check <br />processing procedures, which may cause a check to be dishonored even if your <br />instructions or the default procedure do not otherwise require us to return such check. <br /> <br />You acknowledge that, if you have our Teller Positive Pay Service, the decision whether to <br />payor not pay an item may be made by us at a banking center. <br /> <br />If you decline to use a Teller Positive Pay Service offered by us or fail to meet your <br />applicable issue file deadlines in the User Documentation, you also acknowledge that, <br />as between you and us, you will bear the full loss on checks which are drawn on your <br />accounts with us and paid by us in good faith if the checks are counterfeits or bear <br />unauthorized alterations to the amounts or unauthorized maker signatures, even if such <br />checks would otherwise be exception items. <br /> <br />You acknowledge that our Positive Pay Services are intended to be used to identify and <br />return checks which you suspect in good faith are fraudulent. They are not intended to be <br />used as a substitute for stop payment orders on checks which are not suspected in good <br />faith to be fraudulent. If we suspect or deem, in our sole discretion, that you are using <br />these Services contrary to those intentions, we may require you to provide evidence that <br />checks we return pursuant to your instructions or the return default, if applicable, were in <br />fact fraudulent. In addition, we may hold you liable for losses we sustain on checks <br /> <br />11m <br />