Reso 2014-2242 - Laserfiche WebLink

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safeguarded and stored in accordance with the timeframc set forth in Section 4.2 above and in a secure location. under effective control, in order to safeguard against unauthorized access and use. Customer shall ensure that all such checks are thereafter destroyed by a cross - shredder. and /or pulped or otherwise destroyed in such a manner that does not permit recovery, reconstruction or future use of the checks. Customer agrees that it will not simply throw out such paper checks with other classes of records or with miscellaneous trash. Customer agrees to be responsible for all consequential damages resulting from lack of proper controls over processed checks. 4.8 Customer shall notify Bank of any interruptions in. delay or unavailability of. or errors caused by the Services immediately upon discovery thereof. Notwithstanding the foregoing, in the case of any error caused by the Services and subject to Section 1 I of the parties' Cash Management Master Agreement, Customer shall provide such notice within thirty (30) Calendar Days of the date of the earliest notice to Customer which reflects the error. Failure of Customer to provide such notice to Bank shall relieve Bank of any liability or responsibility for such error, omission or discrepancy. 5. Customer Warranties, Covenants. Customer makes the following representations, warranties and covenants as of the effective date of this Appendix and upon each delivery of-an Electronic File to Bank: 5.1 An Electronic File may include an electronic representation of a Substitute Check. Customer shall redeposit a returned original check or a returned Electronic Item by delivering the same to any Bank branch location. A returned original check or returned Electronic Item may not be rc- submitted by Customer using the Services. Customer may only use the Services to rc- submit an IRD or Substitute Check that has been returned to Customer for non - sufficient funds. 5.2 With respect to each Electronic Item in any Electronic File delivered to Bank, the Electronic Item accurately represents all of the information on the front and back of the original check as of the time that the original check was created by the payor: contains all required and valid endorsements: replicates the MICR line of the original check: and meets all FR13 standards of and technical requirements for sending Electronic Items to any as set forth in the applicable FRB operating circular. or as established by the American National Standards Institute ("ANSI ") or any other regulatory agency. clearing house or association. Specifically, each Electronic Item of each original check shall be of such quality that the following information can clearly be read and understood by sight review of-such Ilectronic Item: the check: (i) the amount of the check. (ii) the payee of the check: (iii) the signature of the payor of (iv) the date ofthe check: (v) the check number: (vi) the information identifying the payor and the paying bank that is preprinted on the check, including the MICR line: and (vii) all other information placed on the original check prior to the lime an image of the original check is captured, such as any required identification written on the front of the check and any endorsements applied to the back of the check. 5.3 Customer shall also ensure that the following information is captured from the MICR line of each original check: 0) the American Bankers Association routing transit number ("R'I'N" ). (ii) the number of the account on which the check is drawn: (iii) when encoded. the amount of the check: and (iv) when encoded, the auxiliary on -us field (serial number) and the process control field of the check. 5.4 The Electronic Item bears all endorsements, if any, applied by previous parties that handled the check in any form (including the original check, as Substitute Check. or another paper or electronic representation of such original check or Substitute Check) for transfer. forward collection or return. Customer shall endorse cacti original check prior to truncation. 5.5 Customer is entitled to enforce the original check. or Customer is authorized to obtain payment of the original check on behalf of a person who is either entitled to enforce the original check or is authorized to obtain payment on behalf of a person entitled to enforce the original check. 5.6 Customer will submit Financial and /or other additional information to Bank upon request in order I'm- Bank to establish or amend Customer's deposit and file limits as further described in Section 6 and as established by Bank and communicated to Customer, or to otherwise monitor or audit Customer's use of the Services and compliance with this Appendix. Customer will also notify Bank of any change in transaction volumes or financial condition that may have an effect on this Appendix or Customer's use of the Services. 5.7 Customer shall also request permission from Bank in advance of any change in locations at which the Services are used or change in the physical location or address of any Hardware from its original Bank- approved location or address, which permission Bank may grant or refuse in its sole and exclusive discretion. In addition to but not in lieu of the foregoing. Customer shall request advance permission from Bank prior to using the Services and /or any hardware outside the continental United States and /or outside of those states (including the District of Columbia) in which Bank operates from time to time. Bank may grant or decline such request in its sole and exclusive discretion and in consideration of applicable law. I/C 4b33- 0113 -025- 41 o162 0912