Certificate of Deposit

RATE INFORMATION. Please refer to our rate sheet for the interest rate and APY on this account.

You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING. Interest will not be compounded and will be credited to the account at maturity.

The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding. If funds are withdrawn or the time deposit is cancelled during the grace period, interest will not accrue after the maturity date and you will not receive interest.

MINIMUM BALANCE REQUIREMENTS. You must deposit $2,500.00 to open this account.

You must maintain a minimum daily balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.

DORMANT/INACTIVE ACCOUNT INFORMATION. The bank imposes a $25.00 per month charge on dormant accounts to cover the special handling needed to service these accounts. If you have not made a withdrawal from, or a deposit to, your account for an extended period of time (defined as two years) and we have been unable to contact you, your account may be classified by us as dormant. Subject to applicable law, we may charge a dormant account fee on the account, and the account will be presumed to be abandoned. In accordance with state law, funds in abandoned accounts will be remitted to the custody of the applicable state agency and we will have no further liability to you for such funds. We reserve the right not to send statements on account we consider dormant, subject to applicable law.

BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

The daily balance that we use when calculating interest is the collected balance. That means we only include those funds for which we have actually received payment when we determine the daily balance on which interest is paid.

ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

TRANSACTION LIMITATIONS. No transaction limitations apply to this account.

MATURITY DATE. This will depend on when will the account be opened and the term of the CD.

EARLY WITHDRAWAL PROVISIONS. For accounts with terms less than one year - if you withdraw any of the principal before the maturity date, we may impose a penalty of 30 days interest.

For accounts with terms of 365 days or longer - if you withdraw any of the principal before the maturity date, we may impose a penalty of 90 days interest.

RENEWAL POLICIES. Your account will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

FEES AND CHARGES. Please refer to the separate Grove Bank & Trust Fee Schedule provided to you with this disclosure for information about fees and charges associated with this account. A Grove Bank & Trust Fee Schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.