Common use of Lien and Offset Clause in Contracts

Lien and Offset. You may not withdraw funds that are pledged as required security on loans without the written approval of a loan officer, except to the extent that such funds exceed your total primary and contingent liability to MSUFCU. If you are indebted to us as a borrower, guarantor, endorser, or otherwise, we have a lien on funds in any account (except IRAs/HSAs) in which you are a primary or joint owner, despite the source of those funds, unless restricted by law. We may access those funds in order to pay off the remaining amount you owe us, including any costs or attorney’s fees incurred by MSUFCU in enforcing its rights. If we do not enforce our lien, we do not waive our right to enforce our lien at a later date. Furthermore, you agree that MSUFCU has security interest in all funds in your account regardless of their source, and we may access your account funds to repay any debt or amount now, or in the future, owed to MSUFCU, including costs or attorney’s fees incurred by MSUFCU in enforcing its rights, except for debts secured by your primary residence, unless restricted by law. All accounts are nonassignable and nontransferable to third parties. You agree to hold us harmless from any claim arising as a result of our exercise of our right to set off.

Lien and Offset. You may not withdraw funds that are pledged as required security on loans without the written approval of a loan officer, except to the extent that such funds exceed your total primary and contingent liability to MSUFCUFPCU. If you are indebted to us as a borrower, guarantor, endorser, endorser or otherwise, we have a lien on funds in any account (except IRAs/IRAs/ HSAs) in which you are a primary or joint owner, despite the source of those funds, unless restricted by law. We may access those funds in order to pay off the remaining amount you owe us, including any costs or attorney’s fees incurred by MSUFCU FPCU in enforcing its rights. If we do not enforce our lien, we do not waive our right to enforce our lien at a later date. Furthermore, you agree that MSUFCU FPCU has security interest in all funds in your account regardless of their source, and we may access your account funds to repay any debt or amount now, or in the future, owed to MSUFCUFPCU, including costs or attorney’s fees incurred by MSUFCU FPCU in enforcing its rights, except for debts secured by your primary residence, unless restricted by law. All accounts are nonassignable non-assignable and nontransferable non-transferable to third parties. You agree to hold us harmless from any claim arising as a result of our exercise of our right to set off.

Lien and Offset. You may not withdraw funds that are pledged as required security on loans without the written approval of a loan officer, except to the extent that such funds exceed your total primary and contingent liability to MSUFCUFPCU. If you are indebted to us as a borrower, guarantor, endorser, or otherwise, we have a lien on funds in any account (except IRAs/IRAs/ HSAs) in which you are a primary or joint owner, despite the source of those funds, unless restricted by law. We may access those funds in order to pay off the remaining amount you owe us, including any costs or attorney’s fees incurred by MSUFCU FPCU in enforcing its rights. If we do not enforce our lien, we do not waive our right to enforce our lien at a later date. Furthermore, you agree that MSUFCU FPCU has security interest in all funds in your account regardless of their source, and we may access your account funds to repay any debt or amount now, or in the future, owed to MSUFCUFPCU, including costs or attorney’s fees incurred by MSUFCU FPCU in enforcing its rights, except for debts secured by your primary residence, unless restricted by law. All accounts are nonassignable non-assignable and nontransferable non-transferable to third parties. You agree to hold us harmless from any claim arising as a result of our exercise of our right to set off.