Agreement For Advances, Pledge And Security Agreement

FEDERAL HOME LOAN BANK OF DES MOINES
Des Moines, Iowa


AGREEMENT FOR ADVANCES, PLEDGE AND SECURITY AGREEMENT


Blanket Pledge


This Agreement for Advances, Pledge and Security Agreement ("Agreement"), effective the 3rd day of May, 1993, is entered between Allegiant Bank ("Member"), with principal offices at 4323 N. Grand, St. Louis, MO 63107 and the Federal Home Loan Bank of Des Moines ("Bank"), with principal offices at 907 Walnut, Des Moines, Iowa 50809.


WHEREAS, The Bank in accordance with the Federal Home Loan Bank Act, regulations and directives of the Federal Housing Finance Board, and policies promulgated by its own Board, makes available advances to its members. The available advances are set forth by the Bank in a statement of "Credit Policy," as may be amended from time to time.


WHEREAS, The member may, from time to time, apply for an advance or advances which may be available to it.


NOW THEREFORE, For valuable consideration and with respect to each and every such advance, the Parties agree as follows:


SECTION 1. CONFIRMATION OF ADVANCE. To be bound by the terms and conditions set forth herein, in the confirmation of advance issued with respect to each advance, and in the Bank's Credit Policy as may be amended from time to time. A confirmation of advance shall mean a writing or machine readable electronic transmission in such form or forms as may be determined by the Bank from time to time.


SECTION 2. PAYMENT TO THE BANK. To repay each and any advance together with interest thereon according to the confirmation of each such advance communicated to the Member by the Bank, together with any unpaid costs and expenses in connection therewith. Such payment shall be made at the office of the Bank in Des Moines, Iowa, or at such other place as the Bank, or its successors or assigns, may from time to time appoint in writing.


The default rate on past due principal and interest may, at the option of the Bank, be at a rate of 1% per annum higher than the then current rate being charged by the Bank for advances.


SECTION 3. ASSIGNMENT TO BANK OF SECURITY INTEREST IN BANK STOCK. The Member hereby assigns, transfers and pledges to the Bank, its successors and assigns, all stock of the Federal Home Loan Bank of Des Moines owned by the Member as collateral security for payment of any and all Indebtedness, whether in the nature of an advance or otherwise, of the Member to the Bank, its successors and assigns.


SECTION 4. ASSIGNMENT OF SECURITY INTEREST IN OTHER COLLATERAL. As additional collateral security for any and all such advances, Member assigns, transfers, and pledges to the Bank, its successors or assigns, each and every note or other instrument evidencing a debt and any mortgage, deed of trust, title, or document of title securing it; all securities (including, but not limited to mortgage-backed securities issued or guaranteed by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, obligations of or guaranteed by the United States or any agency thereof, share certificates or other participation interests in any securities trust, mortgage loan participation certificates); all contract for deeds; all chattel paper; any chose in action; all general intangibles; all deposit accounts; certificates of deposit; and proceeds from any of the above (hereinafter "Collateral"). With respect to such Collateral, Member undertakes and agrees as follows:


A. That such security interest shall extend to after acquired Collateral of a similar nature;


B. That the Member shall be at liberty to use, commingle, and dispose of all or part of the Collateral, and to collect, compromise, and dispose of the proceeds of the Collateral without being required to account for the proceeds or replace the Collateral subject only to its obligation to maintain the Collateral as herein provided;


C. To keep and maintain such Collateral free and clear of pledges, liens, and encumbrances to others as the required collateral maintenance level. The "required collateral maintenance level" means the amount of collateral the member is required to maintain free and clear of pledge, liens, and encumbrances to others as set forth from time to time in the Credit Policy:


D. To assemble and deliver Collateral to the Bank or its authorized agents immediately upon demand of the Bank; and as specified by the Bank in its Credit Policy from time to time, and to pay for the safekeeping collateral as established by the Bank;


E. To make, execute, and deliver to the Bank such assignments, endorsements, listings, powers, financing statements or other instruments as the Bank may reasonably request respecting such Collateral.


SECTION 5. DUTY TO USE REASONABLE CARE. In the event Member delivers security to Bank or its Agent pursuant to paragraph 4 above, the duty of the Bank with respect to said security shall be solely to use reasonable care in the custody and preservation of the security in its possession.


SECTION 6. ADDITIONAL SECURITY. Member shall assign additional or substituted Collateral for such advances at any time ...