Common use of EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES Clause in Contracts

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assignee’s) beneficiary(ies) under this Agreement. Executed at Reno, Nevada this day of October, 2007. NEVADA SECURITY BANK Reno, Nevada By: By: Its:Chief Executive Officer Insured: Xxxx X. Xxxxxxx Witness Witness BENEFICIARY DESIGNATION FORM FOR THE SECOND AMENDED AND RESTATED NEVADA SECURITY BANK SPLIT DOLLAR AGREEMENT I hereby revoke all previous beneficiary designations under the First Amended and Restated Nevada Security Bank Split Dollar Agreement and the original Nevada Security Bank Split Dollar Agreement, and make the new primary and secondary designations as set forth below.

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assignee’s) beneficiary(ies) under this Agreement. Executed at Reno, Nevada this day of October, 2007. NEVADA SECURITY BANK Reno, Nevada By: By: Its:Chief Executive Officer Insured: Xxxxx X. Xxxx X. Xxxxxxx Witness Witness BENEFICIARY DESIGNATION FORM FOR THE SECOND AMENDED AND RESTATED NEVADA SECURITY BANK SPLIT DOLLAR AGREEMENT I hereby revoke all previous beneficiary designations under the First Amended and Restated Nevada Security Bank Split Dollar Agreement and the original Nevada Security Bank Split Dollar Agreement, and make the new primary and secondary designations as set forth below.

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assignee’s) beneficiary(ies) under this Agreement. Executed at Reno, Nevada this day of October, 2007. NEVADA SECURITY BANK Reno, Nevada By: By: Its:Chief Executive Officer Insured: Xxxx Xxxxxx X. Xxxxxxx Xxxxxxxx Witness Witness BENEFICIARY DESIGNATION FORM FOR THE SECOND AMENDED AND RESTATED NEVADA SECURITY BANK SPLIT DOLLAR AGREEMENT I hereby revoke all previous beneficiary designations under the First Amended and Restated Nevada Security Bank Split Dollar Agreement and the original Nevada Security Bank Split Dollar Agreement, and make the new primary and secondary designations as set forth below.

EFFECT OF THE LIFE INSURANCE POLICY’S CONTESTABILITY CLAUSES. The parties herein understand and agree that the payment of the benefits provided herein are subject to the Life Insurance Policy’s suicide and contestability clauses and other such clauses, and if such clauses preclude the Insurer from paying the full death proceeds, then, in such event, no death benefits of whatever nature shall be payable to Insured’s (or Insured’s Assignee’s) beneficiary(ies) under this Agreement. Executed at Reno, Nevada this day of October, 2007. NEVADA SECURITY BANK Reno, Nevada By: By: Its:Chief Executive Officer Xx Xxxxxxx, Chairman Insured: Xxxx Xxxxxx X. Xxxxxxx Xxxxx Witness Witness BENEFICIARY DESIGNATION FORM FOR THE SECOND AMENDED AND RESTATED NEVADA SECURITY BANK SPLIT DOLLAR AGREEMENT I hereby revoke all previous beneficiary designations under the First Amended and Restated Nevada Security Bank Split Dollar Agreement and the original Nevada Security Bank Split Dollar Agreement, and make the new primary and secondary designations as set forth below.