Home Equity Line of Credit Kit

Home Equity Line of Credit Kit Thank you for your interest in a home equity line of credit from GRB. Below you will find the information necessary to apply as well as some basic information. Should you have any additional questions, please contact your Loan Officer, Retail Relationship Manager or call our main number at 585-249-1540 for assistance. TO APPLY Fill out and sign the enclosed application, and the home equity, closing cost, and Patriot Act disclosures. Note: If loan is approved, everyone listed on the deed must attend the closing to sign a mortgage acknowledgement form. If property is different from the mailing address, provide property information under Collateral Information on the application. Self-employed borrowers: include a copy of your last two years of federal income tax returns including all schedules. W-2 wage earning borrowers: include two recent payroll statements covering approximately one month and the most recent year-end W-2 statement. Sign one copy of the enclosed Home Equity Line of Credit disclosure and keep one copy for your records. Bring evidence of current homeowner s insurance information to closing or send with the documents listed above. ACCEPTABLE PROPERTIES One to four family, owner-occupied properties Second homes and vacation properties Located in GRB s market lending area (Monroe and the 4 surrounding counties) LENDER Member FDIC. NMLS #417491

GRB Consumer GRB Loan Lending Application Application TYPE OF CREDIT REQUESTED (please check/complete all that apply) Individual Credit (borrower initials) Secured Fixed Rate Term Loan Joint Credit (both borrowers' initials) Unsecured Variable Rate Line of Credit Amount Requested: Term Requested: Proceeds of loan/line to be used $ Collateral Information: If credit is to be secured, briefly describe the collateral to be given as security. APPLICANT INFORMATION JOINT APPLICANT INFORMATION N am e G R B A cco unt # N am e G R B A cco unt # H o m e A ddres s Y ears T here H o m e A ddres s Years T here C ity, State, Z ip H o m e P ho ne C ity, S tate, Z ip H o m e P ho ne S o cial S ecurity N o. D ate o f B irth A ge o f D ependents So cial Security N o. D ate o f B irth A ge o f D ependents E m ail A ddres s E m ail A ddres s M o rtgage H o lder/landlo rd M o rtgage H o lder/landlo rd M o rt. P aym ent/r ent (incl. tax & ins ur) B alance o wed Value o f P ro perty M o rt. P aym ent/r ent (incl. tax & ins ur) B alance o wed Value o f P ro perty N am es (s ) o f O w ners D ate P urchas ed P urchas e P rice N am es (s ) o f O wners D ate P urchas ed P urchas e P rice E m plo yer G ro s s M o nthly Salary E m plo yer G ro s s M o nthly S alary $ $ O ccupatio n Years T here W o rk P ho ne O ccupatio n Years T here W o r k P ho ne C urrent B ank /C redit Unio n N am ec heck ing B alance Sav ings B alance C urrent B ank /C redit Unio n N am e C heck ing B alance S av ings B alance $ $ $ $ O ther Inco m e: A m o unt & S o urce O ther Inco m e: A m o unt & So urce (1) (1) Income from alimony, child support or separate maintenance is not required to be disclosed unless you want it to be considered in the approval of this loan. INFORMATION ABOUT OTHER DEBTS (please list ALL outstanding debts) CREDITOR PAYMENT BALANCE CREDITOR PAYMENT BALANCE $ $ $ $ $ $ $ $ $ $ $ $ Insurance Agent / Company with Contact Information DISBURSEMENT & ADDITIONAL INSTRUCTIONS Automatic Payment from GRB account? YES NO If "YES," Account #: PLEASE READ, SIGN AND DATE STATEMENT I hereby certify that all statements made are true and submitted for the purpose of obtaining credit, whether completed by me or by the bank at my direction. In considering this application the loan offcer may request and use a report from outside credit reporting agencies. They may ask a reporting agency for such reports in connection with renewal or continuation of the credit for which I'm applying. Upon request the bank will supply the name and address of the credit bureau providing such information. I acknowledge notice of this disclosure under Article 25 of the New York State General Business Law. S ignature o f A pplicant D ate Signature o f C o -A pplicant D ate For Creditor Use RM: NMLS# Branch#: Rel. Customer: Y / N Elite Customer: Y /

Home Equity Disclosure This disclosure contains important information about our Home Equity Line of Credit. You should read it carefully and keep a copy for your records. 1. AVAILABILITY OF TERMS. All of the terms described below are subject to change. If these terms change (other than the annual percentage rate), and you decide, as a result, not to enter into an agreement with us, you are entitled to a refund of any fees that you have paid to us or anyone else in connection with your application. 2. SECURITY INTEREST. We will take a security interest in your home. You could lose your home if you do not meet the obligations in your agreement with us. 3. POSSIBLE ACTIONS. Under certain circumstances, we can: A. Terminate your line of credit, require you to pay us the entire outstanding balance in one payment, and charge you certain fees; B. Refuse to make additional extensions of credit; C. Reduce your credit limit; and D. Make specific changes that are set forth in your agreement with us. We can terminate your line of credit, require you to pay us the entire outstanding balance in one payment, and charge you certain fees if: A. You engage in fraud or material misrepresentation in connection with the line of credit; B. You fail to make a payment as required by the agreement; or C. Your action or inaction adversely affects the collateral or our rights in the collateral. We can refuse to make additional extensions of credit or reduce your credit limit if: A. The value of the dwelling securing the line of credit declines significantly below its appraised value for purposes of the line of credit; B. We reasonably believe you will not be able to meet the repayment requirements under the line of credit due to a material change in your financial circumstances; C. You are in default of a material obligation of the agreement; D. Government action prevents us from imposing the annual percentage rate provided for in the agreement, or impairs our security interest such that the value of the interest is less than 120 percent of the credit limit on the line of credit; E. A regulatory agency has notified us that continued advances would constitute an unsafe and unsound practice; or F. The maximum annual percentage rate is reached. The initial agreement permits us to make certain changes in the terms of the line of credit at specified times or upon the occurence of specified events. 4. MINIMUM PAYMENT REQUIREMENTS. You can obtain credit advances for 10 years (the "draw period"). During this period, payments will be due monthly. Your minimum monthly payment will equal the following : The amount of accrued finance charges on the last day of the billing cycle. The minimum payment amount will be rounded up to the nearest $.01. The minimum monthly payments during the draw period will not reduce the principal that is outstanding on your line of credit. After the draw period ends, you will no longer be able to obtain credit advances and must pay the outstanding balance on your line of credit (the repayment period. ") The length of the repayment period is 15 years. During the repayment period, payments will be due monthly. Your minimum monthly payment will equal the greater of the following: $100.00; or The amount of accrued finance charges plus 0.005 percent of the principal balance outstanding on the last day of the billing cycle. The minimum payment amount will be rounded up to the nearest $.01. Whenever a flat dollar amount is used to determine the minimum payment however, the minimum payment will be rounded to the nearest $.01. The minimum monthly payments may not be suffcient to fully repay the principal that is outstanding on your line of credit by the end of the repayment period. If they are not, you will, to the extent permitted by law, be required to pay the entire balance in a single payment. 5. MINIMUM PAYMENT EXAMPLE. If you made only the minimum monthly payment and took no other credit advances, it would take 20 years and 2 months to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE of 4.000%. During that period, you would make 120 payments of $33.33 followed by 121 payments of $100.00, with a final payment of $84.24. 6. FEES AND CHARGES. If you close out (payoff ) the HELOC within the first 36 months of the loan, you will be required to reimburse the Bank the full amount of the closing costs. You must carry insurance on the property that secures the line of credit. 7. REFUNDABILITY OF FEES. If you decide not to enter into this plan within three days of receiving this disclosure and the Home Equity Booklet, you are entitled to a refund of any fee you may have already paid. 8. MINIMUM DRAW REQUIREMENTS. The minimum credit advance that you can receive is $500.00. The minimum initial credit advance must be at least $10,000.00. 9. TAX DEDUCTIBILITY. You should consult a tax advisor regarding the deductibility of interest and charges for the line of credit. 10. VARIABLE RATE FEATURES. This line of credit has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum monthly payment can change as a result. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. The index is the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks known as the Wall Street Journal U.S. Prime Rate and is published in the Wall Street Journal. To determine the annual percentage rate that will apply to your line of credit, we add a margin to the value of the index and then round up to the nearest.001 percent. Ask us for the current index value, margin, and annual percentage rate. After you open a line of credit, rate information will be provided on periodic statements that we send you. 11. RATE CHANGES. The annual percentage rate can change quarterly, based on The Wall Street Journal prime rate in effect 10 days prior to the rate change date. There is no limit on the amount by which the rate can change in any one year period. The maximum ANNUAL PERCENTAGE RATE that can apply during the line of credit is 15.000 percent. The minimum ANNUAL PERCENTAGE RATE that can apply during the line of credit is 4.000 percent. This line of credit has a preferred rate provision. This means that if you terminate your automatic debit agreement with us, your annual percentage rate will increase. Your new ANNUAL PERCENTAGE RATE will be determined by adding 2.000 percentage point(s) to the index value plus margin value normally used to calculate your annual percentage rate. This new annual percentage rate may be affected by rate caps. 12. MAXIMUM RATE AND PAYMENT EXAMPLES. If you had an outstanding balance of $10,000.00 at the beginning of the draw period, the minimum monthly payment at the maximum ANNUAL PERCENTAGE RATE of 15.000 percent would be $125.00. The maximum annual percentage rate during the draw period, could be reached in the 1st month (1 month) following an initial hold of 3 months. If you had an outstanding balance of $10,000.00 at the beginning of the repayment period, the minimum monthly payment at the maximum ANNUAL PERCENTAGE RATE of 15.000 percent would be $125.50. The maximum annual percentage rate during the repayment period, could be reached in the 4th month (4 months). 13. HISTORICAL EXAMPLES. The following table shows how the annual percentage rate and the minimum payments for a single $10,000.00 credit advance would have changed based on changes in the index over the last 15 years. The index values are from the first business day of January. While only one payment amount per year is shown, payments would have varied during each year. The table assumes that no additional credit advances were taken, that only the minimum payment was made, and that the rate remained constant during each year. It does not necessarily indicate how the index or your payments would change in the future. THE TERM OF THE LINE OF CREDIT IS 300 MONTHS. AS A RESULT, YOU MAY BE REQUIRED TO REPAY THE ENTIRE PRINCIPAL BALANCE AND ANY ACCRUED INTEREST THEN OWING 300 MONTHS FROM THE DATE ON WHICH THE LINE OF CREDIT IS MADE. THE LENDER HAS NO OBLIGATION TO REFINANCE THIS LINE OF CREDIT AT THE END OF ITS TERM. THEREFORE, YOU MAY BE REQUIRED TO REPAY THE LINE OF CREDIT OUT OF ASSETS YOU OWN OR YOU MAY HAVE TO FIND ANOTHER LENDER WILLING TO REFINANCE THE LINE OF CREDIT. ASSUMING THIS LENDER OR ANOTHER LENDER REFINANCES THIS LINE OF CREDIT AT MATURITY, YOU WILL PROBABLY BE CHARGED INTEREST AT MARKET RATES PREVAILING AT THAT TIME AND SUCH RATES MAY BE HIGHER THAN THE INTEREST RATE ON THIS LINE OF CREDIT. YOU MAY ALSO HAVE TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW MORTGAGE LOAN. YOU SHOULD CHECK WITH YOUR LEGAL ADVISOR AND WITH OTHER MORTGAGE LIEN HOLDERS AS TO WHETHER ANY PRIOR LIENS CONTAIN ACCELERATION CLAUSES WHICH WOULD BE ACTIVATED BY A JUNIOR ENCUMBRANCE. This is not a commitment to make a loan. You hereby acknowledge receipt of this Home Equity Plan Disclosure and a copy of the Home Equity Brochure on today s date. YEAR INDEX (%) MARGIN (%) ANNUAL PERCENTAGE RATE (%) MINIMUM MONTHY PAYMENT ($) 2003 4.250 0.000 4.250 35.42 2004 4.000 0.000 4.000 33.33 2005 5.250 0.000 5.250 43.75 2006 7.250 0.000 7.250 60.42 2007 8.250 0.000 8.250 68.75 2008 7.250 0.000 7.250 60.42 2009 3.250 0.000 4.000 (K) 33.33 2010 3.250 0.000 4.000 (K) 33.33 2011 3.250 0.000 4.000 (K) 33.33 2012 3.250 0.000 4.000 (K) 33.33 2013 (O) 3.250 0.000 4.000 (K) 100.00 2014 3.250 0.000 4.000 (K) 100.00 2015 3.250 0.000 4.000 (K) 100.00 2016 3.500 0.000 4.000 (K) 100.00 2017 3.750 0.000 4.000 (K) 100.00 (K) This reflects a lifetime floor of 4.000 percent. (O) The repayment period begins in this year. Creditor: Signature www.grbbank.com 1850 S. Winton Road Rochester, NY 14618 Signature 1989, 2003 Wolters Kluwer Financial Services - Bankers Systems TM Form HE-DISC 9/15/2003 Custom 3608726-010 MDF. ENYHED22 (page 1 of 1)

Estimated Closing Cost Disclosure Borrowers: : Thank you for applying for a Home Equity Line of Credit with GRB. As a condition of your Home Equity Line of Credit, GRB is paying your closing costs up to a maximum of $2,500. The borrower is required to pay all closing costs above $2,500. If you pay off and close your Home Equity Line of Credit within the first 36 months, you will be required to reimburse GRB for these costs paid on your behalf. These costs are estimated below. Your costs may be higher or lower. The exact costs will be calculated at closing based on the final approved line of credit amount. Appraisal $200 - $600 Title Search $189 - $250 Title Insurance* $0 - $800 Attorney Fee* $0 - $600 Mortgage Filing Fee $5 - $100 Mortgage Tax $125 - $1000 Tax Service Fee* $106 Flood Zone Search $18 Credit Report Fee $10 - $30 Total $653 - $3,504 *Title Insurance Fees and/or Attorney Fees and/or Tax Service Fees only apply to a Home Equity Line of Credit that will be in first lien position. I/we have reviewed and understand the closing costs paid on my/our behalf and that I/we will be responsible for reimbursing GRB for these costs if I/we pay off and close this Home Equity Line of Credit within the first 36 months. I/we also understand that the final approval, amount, and rate are dependent on the outcome of the appraisal, title search, flood zone determination, and other credit qualifying. NYS mortgage tax is based upon the size of the loan and varies by county in GRB s lending area. Estimated mortgage tax amounts above were calculated assuming a mortgage amount of $20,000 and $50,000, respectively. The maximum closing costs paid on my/our behalf by GRB will be $2,500. I/we are responsible for all amounts above $2,500. GRB reserves the right to charge borrowers all of the closing costs under certain circumstances. Borrower/ Co-borrower/

Appraisal Disclosure RIGHT TO RECEIVE A COPY OF APPRAISAL REPORT ONLY COMPLETE THIS FORM IF YOU ARE APPLYING FOR A FIRST LIEN HOME EQUITY. Creditor: Genesee Regional Bank Applicant: : Application/Loan Number: Property Address: RIGHT TO RECEIVE COPY You means Applicant, and We means Creditor. We may order an appraisal to determine the property s value and charge you for this appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close. Copies of any appraisal may be given to you in an electronic form only in lieu of hard copies. You can pay for an additional appraisal for your own use at your own cost. By signing below, you acknowledge that you have received this Disclosure. Borrower Co-Borrower

Homeownership Counseling Notice ( Borrower ) has applied for a Home Equity Line of Credit with Genesee Regional Bank ( Lender ). In conjunction with this application, Lender is providing Borrower with the attached list of homeownership counseling organizations approved by the United States Department of Housing and Urban Development (HUD) that provide relevant counseling services in the Borrower s location. This list can be obtained at http://www.consumerfinance.gov/find-a-housing-counselor/. By signing below, Borrower acknowledges receipt of the attached list of HUD-approved homeownership counseling organizations and further acknowledges that the attached list of HUD-approved homeownership counseling organizations has been provided to Borrower within three business days after Lender s receipt of Borrower s completed loan application. Borrower Co-Borrower

Patriot Act Disclosure To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies every customer. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may ask to see your driver s license or other identifying documents. I/we acknowledge that I/we received a copy of this disclosure. Borrower Co-Borrower