Alerus Financial Online Banking Agreement I. Introduction Thank you for choosing Online Banking with Alerus Financial! This Online Banking Agreement (the "Agreement") explains the terms and conditions governing the use of Alerus Financial's Small Business Online Banking Services. All Internet Banking Services of any kind offered by Alerus Financial (including, but not limited to funds transfers and bill payment services) will be referred to collectively as "Services" in this Agreement. The Agreement also contains the terms and conditions governing the Services. The terms and conditions of your deposit agreements and disclosures for each of your accounts at Alerus Financial as well as your other agreements with Alerus Financial, such as loans, continue to apply notwithstanding anything to the contrary in this Agreement. II. Definitions As used in this agreement, the following words have the meanings given below. "Online Banking Services" and "Services" means the services provided pursuant to this Agreement, including bill payment. "Eligible Accounts" Each Alerus Financial product that you have with us is called an Eligible Account and includes deposit accounts, savings accounts, time accounts and loans, including lines of credit. All eligible accounts will be linked by means of the tax identification number (i.e., social security number or employer identification number) of the account owner(s) or business entity. This means that you will be able to view and access any accounts using the same tax identification number, for which you are a co-owner or authorized signer. Certain accounts with restricted access will not be allowable as Eligible Accounts. "We," "us," "our" and "Alerus Financial" are used to refer to Alerus Financial, N.A., the depository institution that holds one or more accounts accessed by the Service. "You" or "your" is used to refer to each person who applies or is authorized by you to use the Services. "Business Day" means Monday through Friday, except banking holidays. "Electronic Funds Transfers" means ATM withdrawals, preauthorized transactions, point of sale transactions, transfers to and from your account with us using Online Banking Services, including bill payments. "Token" means a random number generator, USB key or similar security device supplied by Alerus Financial to Customer, which is required in conjunction with Customer ID, User ID and password to log in to Alerus Financial's Small Business Online Banking Services. III. Access to Service In order for you to use the Services described in this Agreement, you must have at least one Eligible Account with us and access to Internet service. In addition, if you enroll for Bill Payment Services, you must have a Deposit Account that is a checking account with us. Alerus Financial customers can register online by selecting the "Accept" button at the end of this Agreement. To register online you must then complete all required information fields on the enrollment form. By completing the online enrollment form, you authorize us to treat your enrollment form as if it had been in writing and signed by you. If you are enrolling on behalf of a business, by selecting the accept button you certify that you are authorized to enter into this agreement. Once we have received your enrollment form online and verified your account information, we will send you by e-mail a confirmation of our acceptance of your enrollment. Upon acceptance, a password will be mailed by postal mail within 72 hours if the enrollment form is received prior to 4:00 P.M. CST or within 48 hours if received after 4:00 P.M. CST. All Eligible Accounts which you have with Alerus Financial will be linked to your Online Banking Services. If you would like an account removed from your Eligible Accounts, please contact us at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662. You agree that we may send confidential mailings, including your temporary password, to the current address shown in our records for your primary checking account. You further agree that we will not be responsible or liable to you in any way in the event that such properly addressed information is intercepted by an unauthorized person, either in transit or at your place of residence. IV. Security and Use of Your Password We are committed to protecting the security and confidentiality of our customer account information. We take measures to protect confidentiality and security of your account. We use several different methods to ensure this security and protect your account information: · You can only access Online Banking with certain browsers that have a high security standard. Acceptable browsers include either Internet Explorer 5.5 or greater or Netscape Navigator 6.2 or greater, with 128-bit encryption. · You must have a valid User ID, Customer ID, password, and token to sign in. · Your password is not displayed on the login screen. · If no action is taken for 10 minutes, you will automatically be logged off Online Banking Services. · Your account will be locked out for 30 minutes after 5 invalid signon attempts. This will count as 1 lockout. Your account can be locked out temporarily (30 minutes) a total of 2 times. After the 2nd temporary lockout, you will be permanently locked out and will need to contact us at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662. · You will be required to select two Security Questions and Answers at the time of enrollment. We will use this information to verify your identity at the time you call us with a request, such as reactivating your access with a temporary password. We also urge you to take measures to protect your account information. You will be provided with a Customer ID, User ID, password, and token and that will give you access to your Eligible Accounts. For security purposes, you are required to change your password upon your initial login to Online Banking Services. We require that you create a password that is case-sensitive and between 8-16 characters in length. Your password must include at least one alpha and one numeric character. Your password should not be associated with any commonly known personal identification. To change your password at a later date, click on the Password button and select Change Password. You will then have the opportunity to change your password. You may also call us at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662 to reactivate your access with a temporary password. Any authorized signatory of your business deposit account(s) has authority to enter into this agreement, access all eligible accounts, and utilize all functions provided within this service. One User ID and password will be assigned to a business. In addition one set of security questions and answers will be completed by the individual enrolling. It is the responsibility of the business to maintain security procedures to ensure that the User ID, password, token and security question answers are provided only to those individuals within the business who are authorized to access eligible accounts and utilize functions available through the Online Services. You agree to assume responsibility for all transactions initiated through the Service with your User ID and password, up to the limits allowed by law. We have no responsibility for establishing the identity of any person or determining the validity of any transaction received using your User ID, password, and token. You also agree never to leave your account information displayed in an area accessible to others and to never leave your PC unattended while using Online Banking Services. We will not be liable for and will not reimburse you for any losses that may occur as a result of the use of your User ID and password. If any authorized representative of your business is no longer an authorized user of this service, it is recommended that you change your password to prevent any unauthorized usage. You agree to notify us immediately if you lose your token or you suspect that your User ID or password has become known to any unauthorized person. Contact us immediately at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662, if you suspect any unauthorized use. Do not report possible security problems by email. Never include your login information or account information in any email. V. Online Transactions Types of Online Transactions You can use Online Banking to check the balance of your accounts, place stop payments, view account histories, transfer funds among your accounts, and pay bills in the amounts and on the dates you request if you have enrolled in Alerus Business Bill Pay service. Scheduling Transfers You may schedule a transfer to be initiated on the same day, or any future calendar day or to be automatically initiated in a fixed amount on a recurring basis (weekly, monthly, quarterly, annually, etc.) between your Eligible Accounts. Transfers may be made in any amount not exceeding the available balance plus the undisbursed line of credit in your Eligible Account from which the transfers are made. To change a Scheduled Transfer, click the “Set-up” tab then click on the “Misc maintenance” button, then click on the “Maintain recurring items” button. Select the account from which the transfer is to occur, modify the appropriate information and click on “Update” to send the changes, or click “delete” to cancel the transfer. The following options can be changed: · The next transfer date · Expiration date if a recurring transfer · Transfer amount. Stop Payments To place a stop payment click on the "Stop Payment" tab, then select the account on which you want to place the stop payment from the drop down box. You may only place a stop payment on a check. If you wish to place a stop payment on a bill payment, electronic payment, or other type of payment, please contact our Customer Care Center at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662. If you are unsure whether the item has cleared, click on the “History” button to display cleared items. Enter the information required, then click on the "Submit" button to send the stop payment to the bank. You will receive a confirmation receipt. The stop payment will immediately be placed on your account for a period of fourteen days. You will receive a letter within a few days that needs to be signed and returned to the bank in order to keep the stop payment in place for 6 months. There will be an $18 fee assessed to your account for the stop payment. Limits on Amounts and Frequency of Online Transactions Your ability to transfer funds between and/or make payments from certain Eligible Accounts is limited by law and are outlined in your deposit account agreement. You may make no more than six transfers per statement period from your Savings and Money Market Savings Accounts by preauthorized or automatic transfer or by telephone or Online Banking. In the case of Money Market Accounts, no more than three of the six permitted transfers may be by check, draft or debit card. VI. Bill Payment Service Please refer to the Alerus Business Bill Pay agreement for additional terms & conditions. VII. Hours of Operation Online Banking Services are available 24 hours a day, seven days a week, except during special maintenance periods. We cannot guarantee that services will always be available as a result of occasional emergency situations or scheduled maintenance. We agree to post notice of any extended period of non-availability on our website. Specific times and deadlines may be applicable to specific aspects of the Service under this Agreement. VIII. Posting of Transfers One-time transfers initiated through Online Banking Services before 11:00 p.m. Central Standard Time (CST) on a business day are posted to your account the same day. One-time transfers completed after 11:00 p.m. CST on a business day, Saturday, Sunday or banking holiday, will be posted on the next business day. Scheduled transfers initiated through Online Banking Services before 6:00 p.m. CST on a business day are posted to your account the same day. Scheduled transfers completed after 6:00 p.m. CST on a business day, Saturday, Sunday or banking holiday, will be posted on the next business day. IX. E-Mail or Communications between Alerus Financial and You Unless this Agreement provides otherwise, you can communicate with us in any of the following ways: · E-mail You can contact us by e-mail by using the Contact Us button at the bottom of the web page or send e-mail to Support@alerusmail.com. · Telephone You can contact us by telephone at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662. · Facsimile You can contact us by fax at 701.795.2652. · Postal Mail You can write us at: Alerus Financial, Attn: Customer Care Center, P.O. Box 6001, Grand Forks, ND 58206-6001 · In Person You may visit us in person at any one of our locations. A list of our locations is available on our home page under the heading "Inside Alerus". · In general, communications sent over the public Internet are not necessarily secure. Therefore, we will not send, and we strongly suggest that you do not send, any confidential account information unless using the electronic communications option provided in our Online Banking Services. We will not respond to account information related questions sent via Internet e-mail. You agree that we may take a reasonable time to act on any e-mail. Correspondence that requires immediate handling, for example, if you need to report an unauthorized transaction from one of your accounts, or if you need to report a lost or stolen password, should be made by calling the Bank. You agree to receive communications regarding your Account, including change-in-terms notices regarding Online Banking Services electronically. Any e-mail sent to you by us shall be considered received by you when they have been made available to you. X. Change in Terms We may change any term of this Agreement at any time. If the change would result in increased fees for any Online Banking Services, increased liability for you, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, we agree to give you notice at least 21 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of an account or our electronic funds transfer system. We will post any required notice of the change in terms on our website or forward it to you by e-mail or postal mail. If advance notice of the change is not required, and disclosure doe not jeopardize the security of the account or our electronic fund transfer system, we will notify you of the change in terms within 30 days after the change becomes effective. Your continued use of any or all of the subject Online Banking Services indicates your acceptance of the change in terms. XI. Termination A. Your Right to Terminate: You may cancel your Online Banking and / or Bill Payment Services at any time by contacting us using one of the methods outlined in Section IX and providing us with your name, address, whether you are discontinuing Online Banking Services, Bill Payment or both; and the effective date to stop the Services. We will verify your identity by utilizing the Security Questions and Answers you selected upon enrollment. When Bill Payment is terminated, any prescheduled bill payments made through Bill Payment Services or scheduled or recurring transfers made through Online Banking Services will be terminated. You will be responsible for any Bill Payments which are already being processed. You will remain responsible for all outstanding fees and charges incurred prior to the date of cancellation. B. Our Right to Terminate: You agree that we can terminate this Agreement and your use of Online Banking Services in whole or in part at any time without prior notice. We will promptly notify you if we terminate this Agreement or your use of the Services for any reason. C. Termination for Inactive Accounts: If you do not access your Eligible Accounts via the Online Banking Services for any three (3) month period, we may terminate your Services. D. Termination for Inactive Bill Pay: if you do not use the Bill Pay Service for any three (3) month period, we may terminate your Services. XIII. Limit of Our Liability We make no warranty of any kind, express or implied, including any implied warranty of merchantability or fitness for a particular purpose, in connection with the Online Banking Services provided to you under this Agreement. We do not and cannot warrant that Online Banking Services will operate without errors, or that all Services will be available and operational at all times. We are not responsible for any direct, indirect, special, incidental or consequential damages arising in any way out of your use of Online Banking Services provided under this Agreement. XIV. Fee Schedule Alerus Online Alerus Financial offers the benefits and convenience of Small Business Online Banking Services to our business customers at not cost. Business customers who need additional functionality, such as ACH origination (direct deposit of payroll and direct debit), positive pay, federal tax payments, additional levels of security, or access to multiple business accounts, may benefit from Alerus Business Online banking package. Please contact our Customer Care Center at 701.795.2662 in Grand Forks, ND, at 701.280.5151 in Fargo/West Fargo, ND, or by calling 1.800.279.3200, ext 2662 for product and pricing information. Bill Payment Service Alerus Business Bill Pay is FREE up to 25 payments! Additional payments are $0.40 each. XIV. General Other Agreements In addition to this Agreement, you agree to be bound by and comply with the requirements of the agreements applicable to each of your Eligible Accounts. Your use of the Services is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures provided to you when you opened your accounts with us. Entire Agreement This Agreement, as it may be amended from time to time, contains the entire understanding between you and Alerus Financial concerning the Online Banking and Bill Payment Services. If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. Governing Law This Agreement and the Services are governed by the laws of the State of North Dakota and applicable federal law, without regard to any different state laws that may govern your Eligible Accounts.