Credit Consent

The information contained in this application is provided to induce you to extend or to continue the extension of credit to the undersigned or to others upon the guarantee of the undersigned. The undersigned acknowledge and understand that you are relying on the information provided herein in deciding to grant or continue credit or to accept a guarantee thereof.

Each of the undersigned represents, warrants and certifies that the information provided herein is true, correct and complete. Each of the undersigned agrees to notify you immediately and in writing of any change in name, address, or employment and of any material adverse change (1) in any of the information contained in this application or (2) in the financial condition of any of the undersigned or (3) in the ability of any of the undersigned to perform its (or their) obligations to you.

In the absence of such notice or a new and full written statement, this should be considered as a continuing statement and substantially correct. If the undersigned fail to notify you as required above, or if any of the information herein should prove to be inaccurate or incomplete in any material respect, you may declare the indebtedness of the undersigned or the indebtedness guaranteed by the undersigned as the case may be, immediately due and payable.

You are authorized to make all inquiries you deem necessary to verify the accuracy of the information contained herein and to determine the creditworthiness of the undersigned. The undersigned authorize any person or consumer reporting agency to give you any information it may have on the undersigned. Each of the undersigned authorizes you to answer questions about your credit experience with the undersigned. As long as any obligation or guarantee of the undersigned to you is outstanding, the undersigned shall supply annually with an updated financial statement. This personal financial statement and any other financial or other information that the undersigned give you shall be your property.

I authorize Peapack Private Bank & Trust to make inquiries as necessary to verify the accuracy of the statements made in this application and to determine my credit worthiness. I certify the above and the statements contained in any attachments are true and accurate as of the stated date(s). These statements are made for the purpose of either obtaining a loan or guaranteeing a loan. I understand FALSE statements may result in forfeiture of benefits and possible prosecution by the U.S. Attorney General (Reference 18 U.S.C. 1001).

Joint Credit

I intend to apply for joint credit, individually as a Guarantor and on behalf of the Borrowing entity.

Important Information About Procedures for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask you for your name, street address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

Notice Regarding USA Patriot Act

Peapack Private Bank & Trust complies with Section 326 of the USA Patriot Act. This law mandates that we obtain and verify certain information about you, including your name, legal address, date of birth and social security or tax identification number, while processing your account application.

Equal Credit Opportunity Act Notice

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (providing the applicant has the capacity to enter into a binding contract); because all or a part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

The federal agency that administers compliance with this law concerning this credit is:

Federal Reserve Consumer Help Center
PO Box 1200,
Minneapolis, MN 55480

Notice of Adverse Action

If your gross annual revenue in the previous fiscal year was $1,000,000.00 or less and your application is denied, you have the right to receive a written statement of the specific reasons for this denial. To obtain the statement, please contact us at the address shown below within 60 days of the date that you were notified of our decision, and we will send you a written statement of reasons for the denial within 30 days of receiving your request:

Peapack Private Bank & Trust
Attention: Commercial Loan Department
P.O. Box 700
Bedminster, NJ 07921
(908) 234-0700

Appraisal Notice

Applicable when the collateral securing the loan is a first lien on a 1–4 family residence
We may order an appraisal to determine the property’s value and charge you for this appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close. You can pay for an additional appraisal for your own use at your own cost.