Insured Depositories. Your monthly account statement will indicate the Insured Depositories in which your FFB Account funds have been deposited. Each Insured Depository is a separate federally insured depository institution. If you do not wish to have your FFB Account funds deposited into any specific Insured Depository, you must identify those institutions to StoneCastle using the Insured Depository Exclusion Form provided to you with the FFB Account opening documents. You are responsible for providing the completed Insured Depository Exclusion Disclosure to StoneCastle. StoneCastle in turn will be responsible for giving instruction to the FFB Custodian. StoneCastle will not direct any of your FFB Account funds into any such Insured Depository that you have elected to exclude unless you notify StoneCastle in writing that such exclusion request is no longer in effect. The FFB Custodian will have no responsibility or liability with respect to the selection, investigation or evaluation of any Insured Depository, and shall have no liability for the actions or omissions of StoneCastle or any Insured Depository. The FFB Custodian shall not be under any duty to investigate or reconcile (whether against your instruction to StoneCastle or otherwise) any instruction it receives from StoneCastle. Amounts in your FFB Account along with funds from other FFB Depositors will be deposited by the FFB Custodian at the direction of StoneCastle into one or more Depository Accounts at multiple Insured Depositories. The Depository Account(s) at each Insured Depository will be named as follows (or in a substantially similar manner): “U.S. Bank National Association [or name of Sub-Custodian] as custodian for persons or entities who are listed on its records, each acting for itself and on behalf of others.” Each Sub-Custodian will act as sub-custodian for the FFB Custodian which acts as custodian for the FFB Depositors. In the event of the failure of an Insured Depository, where the deposits are not assumed by another Insured Depository, StoneCastle will promptly submit an insurance claim to the FDIC on behalf of the FFB Depositors who have amounts on deposit through one or more Depository Accounts at the Insured Depository. During the time your insurance claim is being processed by the FDIC, you will not have access to the funds that you had on deposit with such Insured Depository. StoneCastle selects the Insured Depositories for the FFB Program. StoneCastle may, in its discretion, include additional...
