In this authorization for recurring automated clearing house (“ACH”) payments (“Authorization”), the terms I, me, my, mine, we, us, and ours refer to the borrower subject to the personal open-end line of credit agreement (“TAPT Money Agreement”) executed with Sutton Bank. I authorize Sutton Bank and its servicer, assignees, and designees, including FCTI, Inc. (collectively, “You”) to initiate electronic debits from and credits to the bank account I designated (“Designated Account”) for recurring payments I owe under the TAPT Money Agreement.  I am an authorized signer on the Designated Account, and I am not required to obtain the agreement or consent of any other person who owns or has a claim to funds in the Designated Account to make this authorization (or I have obtained all required agreements and consents from other persons who own or have a claim to funds in the Designated Account), and I acknowledge that electronic debits and/or credits will be processed through the ACH system and must comply with applicable law.

The amount debited from the Designated Account pursuant to this Authorization will be (i) the total required payments due for all outstanding draws under my TAPT Money Agreement plus any applicable fees including processing fee, carried balance fee, late payment fees or returned payment fees, as listed on my TAPT Money billing statement (“Billing Statement”) or (ii) the amount of any prepayment I may schedule, as applicable.  I also authorize You to initiate an additional credit or debit to the Account if necessary to correct any error that has previously occurred.

I agree that the Designated Account must have enough available collected funds to cover the scheduled debit on the business day before the scheduled payment date, and on the scheduled payment date.  If the Designated Account does not have enough available collected funds to cover the scheduled debit, You may continue to attempt to collect funds from my Designated Account as outlined in the TAPT Money Agreement.  I understand that in addition to the fees that You may charge, my depository bank may charge an overdraft or other fees.

Payments initiated pursuant to this Authorization will be in the amounts and scheduled on the due dates listed on my Billing Statement. This Authorization will apply to the first payment due after I execute this Authorization unless this Authorization is terminated at least three (3) business days prior to the payment due date as described below. 

I understand that this Authorization does not relieve me of the obligation to make timely payments under the TAPT Money Agreement.  I further acknowledge that this Authorization is fully transferable and assignable by You to any entity, its servicer, or assigns that hold any promissory note executed in connection with my TAPT Money Agreement.  I acknowledge and agree that this Authorization will remain in full force and effect until and unless either You terminate it, I provide You with written notification that this Authorization is terminated (and such termination will be recognized when my depository bank and You have a reasonable opportunity to act upon such written notification), or I contact you as described below.

I can cancel this Authorization by contacting (888) 721.3821 and this cancellation will be effective three (3) business days after receipt.  I may also cancel this Authorization by giving the depository bank notice of termination or by stopping payment of any scheduled debit at least three (3) business days before the scheduled date of the next debit.  Failure to make payments on time may result my inability to take additional cash advances on my TAPT Money account. I may obtain additional information about the depository bank’s preauthorized ACH debit stop payment requirements from the depository bank. 

In addition, I understand that if I terminate this Authorization or stop payment of any scheduled debit(s), I will still be required to make the required payments due under the TAPT Money Agreement.  I understand that providing this Authorization is not a condition of the TAPT Money account or any cash advance on the TAPT Money account, and I have chosen this method of payment for the convenience of having my required payments made automatically from my Designated Account. 

I AM AGREEING TO AUTOMATIC PAYMENTS.  I HAVE READ THE ABOVE AUTHORIZATION AND AGREE TO IT.  I AGREE AND UNDERSTAND THAT I AM AUTHORIZING YOU TO DEBIT AND CREDIT THE DESIGNATED ACCOUNT, AND I ALSO AGREE THAT I HAVE RECEIVED A COPY OF THIS AUTHORIZATION FOR MY RECORDS. I UNDERSTAND THAT I SHOULD PRINT THIS AUTHORIZATION AND RETAIN A HARD COPY OR ELECTRONIC COPY OF IT.