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<br />XI,
<br />
<br />LOAN5 TO PARTICIPAN1.,
<br />
<br />11.01 Ava,13bihly of Lo,,ns lo ParlJcipsnts.
<br />
<br /> BD::'F JO' 2 133", I,om lhe P,an 5uz,~e71 to Ibc
<br />
<br /> ~,e app,oued by ihe P;an Adm~n'.slralor and ar6
<br /> con~s~¢rd w~th the provisions of lh~s Ad~ole XI
<br /> loans a'e made ~vaUable lo a~l Pamc~pants on a
<br /> reasonably e~,dwaleqt bas~s.
<br />
<br />11.02 Terms and Condit;ons ol Loans to Pa~cipants.
<br /> b) the P~an lc a Pamc~pam under Se:ton 11.01 Of the
<br /> shall sat,s~y the JoJlowm~ to:
<br />
<br /> (a) Am~um of Loam A~ the tree lhe IDa~ ~5 ma~e. the prm-
<br /> :,pa: amount of the ~can plus the outsta~dm~ balance
<br /> (Dnn:~pa: pig5 acc'Je3 m~e~est', o~ On ~n) OlhB'
<br />
<br /> o~ner pians of the Empioye'/ha~ are quahf,ec u~er Sec-
<br /> ~,on 401(a) ct lhe O~e shall not exceed the least o' (1)
<br /> $SO,~dD. or (21 the grealm DJ (0 $10.000 o, 0~.. on.half
<br /> o~ t%e value o~ the P~-:,gipant's Non~odeitab!e
<br /> al: of ms'nor BnCOUF,~. under th~s Plan except h:s'ner
<br /> Denucfib;e Employee Account. or (3) the va~ue DJ the
<br /> PamsJpanl's Nonto'fe,table Into'es: ~n his/her Emp;o¢er
<br /> ContribdbOq, Pamc;p~n: OontriDb~on and Pongee Ben~
<br /> fKs aooou~ts.
<br />
<br /> (bi Applisaton for Loan. The Purlin/pant must give the
<br /> Employer adequale written notice, as delerm:ne¢
<br /> Employer. of the amgum and desired hmo tot receiving
<br /> a loan. No more ~han one loan may be made bythe P~an
<br /> lc a Paros/pant in any Pian Yea~. No loan sha',l be
<br /> proved i~ an ex,shag loan from the P/an to the Paros/pant
<br /> is m def~Jl[ lO 8ny ex~ent.
<br />
<br /> (:) Length of Loan. Tr, e P~msipant snot' be requ'.re= to repsy
<br /> the loan m approx~,Bte'y eaug: ins:aHmen~S Of
<br /> and ~nlefest over a ~r,~ that does n% exceed f, ve years:
<br /> prowde3, however, tna~ if the pro:earls of Ihs loan are
<br /> 8:.phed by the Pan,:,pant to acouire, construct, recon-
<br /> struct, or substanba',!y rehabi!;tme any dwelhng unil that
<br /> is id be used w~1hm a reasonable l:me aher the tsan
<br /> made as the prins,pa' res;congo of 1ne Pamoca%t or of
<br /> a member of h'.s/her fami!y, the five year hmit snaf~ not
<br /> apply. In th~s event, the period of repaymenl sha~ nol ex-
<br /> ceed a reasonabJe period determmed by the Emp)oyer.
<br /> Pnnsipa~ ins:aHmems and into:est payments ome~'ise
<br /> due may be suspended dunng an aulhorized leave of
<br /> absence, il lhe prom~s~ nme ~ provides, but not
<br /> beyond the original term permitted under Inis subsection
<br /> (si, wilh a revised payment ~hedule (within such term)
<br /> inslituled al Ihe end of such period of suspension.
<br />
<br /> (d) Acceleration. ~e maluriw of the ban shall ~ a~erat~,
<br /> and the pnncipal amounl 0l the loan. togelher with all ac.
<br /> :rued imerest, shall immed,ately become due. ~-hen the
<br /> Pammpanl either (1) re:ewes a d~stribuhon from his
<br /> Employer ~ntribulion Account. Panicipanl Contribution
<br /> Account, or Podable Benefits Account; or (2~ incurs a
<br /> Break in Serene.
<br />
<br /> t~3:(' ]f.f Ib;J~, 5h~* PC ~,.:~ '~;r .~ bt' R 2'~ ....
<br />
<br />(g; ~e:ur,ty The loan shaV b( s~;ure~b~
<br /> the Pa'J,c,pant'~ rpght, t~l,e 8n3 mtC"CF' ~' ;.r 2
<br />
<br /> bt.pan' Oord'lguton AgCOjn: an3 Foq.: e
<br />
<br />(h) C,e~au:: Intheevenllh3'.aloa~m::3et3aF'.,rj:::&-.
<br /> m defau~ an~ the Employe' ce'e'm,%es fi.a: ~ ~:
<br />
<br /> cure such default, the EmD(Dyer. wl~h
<br /> hglpant, sha:l cause a d~st'iDul~on I0 L'e macs
<br /> of the Pad,C,Dan~ under ?,e Plan. whtgh shaf' be
<br /> by the Emp;oyer 1o the u" .-a~3 Dalanne Of
<br /> ing accrued interest. Su: h d:stnbuhon sha~
<br /> egams', the Pammpa~t's Vc:~nta~. Contribu:.;
<br /> m~l~e, Pad~mpant Oontr,but,on Account. h,s"~e'
<br /> Beneht5 Account. and h:sCher Nonfode=;a~
<br /> his'her Emp;oyer Co~tn~t,o~ Account. to;,ow,r, 2
<br /> l,o% lrom se~ce, in lhat Order of priority.
<br />(ii ~her Te:msand Coati:tons The E
<br /> othe- to-ms an~ coqgtiD~s of the Ica-,
<br /> negessa')'lc co~ :y with le~a requ,remem5.
<br /> the ~ua':5~to~ ol the Plan arid Trust undo: Se:ha-
<br /> Of the ~e, or Io prevent the tremmem
<br /> tax pur~seS a~ a distdbuton to the Pac,s;ps%t
<br /> Employer, in its d~scret~on tot any rea~on, may
<br /> terms an5 ~ndihons of the I: an. not inco~sigteet
<br /> provisions of this AAic~e Xi
<br />
<br />Xlt.
<br />
<br />11.03
<br />
<br />Participant Loan Accounts.
<br />
<br />(a) Upon approval of a loan lC a Pa"ticipant by lne Er"--
<br /> an amount not in excess of t,".e loan shEI be
<br /> from the Pome,punt's otper investmen; fund s), Os:
<br /> ir, Se~icn 5.05 of lhe P~am to the Part, ic~F. ant's
<br /> A~%'c'ount as of the Accounbn_c Date immed:me,y
<br /> the agreed u:oon date on wmch the loan =$ to be ma2.-'
<br />
<br />(bi The assets o! ~ Pamcip, ar, t's Loan Ac~oun; .,m. _~
<br /> im'este2 and ,e,pveste: o~l; ~r. Prom:sso,-,. nd:eS
<br /> by tr, e P,an from the PartciDam as cbns~ger_.Dt,Dr~ fo- =_
<br /> permi~.e¢ by Section 11.0! of the Piano. m cash.
<br /> vesle,d cash balances in a Pa"t,s~panfs Loaq
<br /> n2.t bear i~:erest No person who ~s othe."wise a ftc.:.:?.-.
<br /> of lhe Plan shall be liable fo- any loss. or by re=.s:-r-
<br /> an)' brsanP.., that results from the Part~c~gan-','S exe'c'ne
<br /> o~ such control
<br />
<br />(c) Repe:,,me~t of princ;pa! and Payment of interest s~a;
<br /> made Dy pay'ol~ deouctio~, and shall be invested ~-
<br /> or more other investment funds, in accordance
<br /> tio~ 5.05 of the P~an, as of the next Accounting Date
<br /> paymem theredf to the Tn~st. The amount so
<br /> be deducted from the Participant's Loan Account
<br />
<br /> The Employer shall have the authority to establish
<br /> reasonable rules, not inconsistent with the prov~$~or
<br /> the Plan, governing lhe establishment and
<br /> of Pa.'l~cipant Loan Accounts.
<br />
<br />(d)
<br />
<br />PLAN AMENDMENT, TERMINATION AND OPTIONAL PROVISIONS
<br />
<br />12.01 Amendment by Employer. The Employe, rosen/es the
<br /> subiec! lo Se:boa 12.02 of Ina Plan, to amend the P/ar.
<br /> brae to time by either:
<br />
<br />
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