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HomeMy WebLinkAboutRes 32-84 06/19/1984 ,'~ Authority of a Corporation, Ownership to secure a safe persons Society, Lodge, Church, Partnership or Sole deposit box and to designate the person or to have access thereto. To MOUNT PROSPECT STATE BANK Mt. Prospect, lllinois At a regular meeting of the VILLAGE OF MOUNT PROSPECT, A MUNICIPAL CORPORATION, of the Da~~ / :? /:? ,j/~ MAYOR AND BOARD OF TR TEES held on the 19th day of June 19~~at which a quorum of the governing body was present, a resolution was presented and unanimously passed, authorizing the proper members or office'f~ designated below to secure, by rental agreement from the above , bank, a safe deposit box, and for aJ;l.y xxxxxxxZdI pers<:>ns designated2t~~~~~lKthexeh;¡:x: by the Finance Director of said Village. Name Title Specimen Signature The authority herein given is to remain irrevocable so far as the above bank is concerned until it be notified in writing of the revocation of such authority and shall in writing acknowledge receipt thereof. Y~JL~ Affix Seal Below r J S."nlary , L .J 1his resolution is subject to the rules and regulations of the Mount Prospect Safe Deposit Corporation. Form 64-230 Bankforms, Inc. ';3d- -9<f ~ ~, r.lx :)ROSPECT STATE BANK - SAFE DEPOSIT BOX - RULES Aj\,~DITIONS -' 1. LIABILITY. The liability of the Mount Prospect State Bank (hereinafter referred to as the "Bank") is limited exercise of ordinary diligence to prevent the opening of the leased safe by any person other than the renter, duly authorized representative, and is assumed upon the express agreement that such opening shall NOT be able from loss of any of its contents. to the or his infer- 2. DEPUTIES. Where the renter consists of two or more persons, each thereof may appoint a deputy or depu- ties to have access to the safe. The authority of a deputy shall continue until revoked by his principal or until the death of his principal, whichever first occurs, and the Bank shall not be liable for permitting access to a deputy until written notice of the fact of such revocation of authority shall have been received by it. The Bank may, in its discretion and without liability by reason thereof, refuse to honor authorizations and powers of attorney not executed in its office and in the presence of one of the Bank's employes or officers. 3. SEVERAL RENTERS. In case a safe is rented in the names of more than one person, anyone of them,' the legal representative of either, or any deputy of a renter still surviving (a) may surrender, exchange or transfer said safe, (b) may have access thereto (either before or after the death of a co-renter), and (c) may remove and dispose of all or any part of the contents of such safe. Upon the death of a co-renter, the Bank may require the release of the personal representatives of the deceased if in its opinion necessary. If a contract is signed by less than all per- sons named or otherwise interested therein it shall be deemed the contract of the signing party or parties. 4. CORPORATIONS. If the renter be a corporation, it is agreed that any person authorized by said corporation shall have the authority to enter said safe at any time to remove any part or all of its contents, to cancel or modify this lease, to surrender or exchange this safe, and any such person shall be deemed to have full authority to represent the Renter in all respects except as such authority is limited by the resolution. It is agreed that the authority of any such persons shall continue until the (corporate renter shall revoke such authority. 5. LITIGATION AND CLAIMS. If by any act, writ, decree or process against any person having right ,of access to a safe the Bank is forbidden from allowing the safe to be opened by such person the said safe may be closed to all persons until such act, writ, decree or process be annulled, dismissed or terminated. In case of, conflicting' claims to said safe or the contents thereof either as between parties entitled to access thereto or by parties claiming by, through, under or against them or any of them, whether founded on legal proceedings or not, the Bank may suspend all right of access to the safe until advised by counsel of its rights and obligations arising out of such claims. Such suspension may continue until a release or releases in favor of the Bank is obtained from said claimants or until the Bank is advised by its counsel that such claim is without merit. Lacking such release or advice the Bank may (but is not required to) submit such claim or claims for judicial determination by interpleader or other l~gal proceeding and in such case be entitled to all costs and expenses thus incurred. 6. RENT. All rents of safes are payable annually in advance. When rentals are delinquent for sixty days or more, access to thesafe may be denied until unpaid rentals have been paid in full. In case of failure to renew a con- tract or failure to pay rent due for ninety days or more, the Bank, at its election, may terminate the contract, drill , open the safe, remove the contents thereof and store and hold the contents in such manner as it may deem best, at the owner's risk and subject to the Bank's usual storage charges, to secure payxnent whereof the Bank shall have a lien thereon and a power to sell at public or private sales, without notice, to enforce the same. All liability of the Bank in relation to such contents shall cease upon the opening of the safe pursuant to the provisions of this rule. 7. TER MINA TION. The rental contract may be terminated at any time by either the renter or the Bank. If ter- minated by the renter or a deputy the keys shall be returned to the Bank and there shall be nó refund on account of rental theretofore paid~ If terminated by the Bank, it shall give not less then ten days written notice to the renter of its election so to do, mailed to the renter at his last address as shown by the books of the Bank, together with the re- fund of the unearned proportionate amount of rental that may have been paid in advance. In such case, the renter shall have ten days from the mailing of such notice ,within which to remove the contents of said safe and failing so to do with- in said period, the Bank may drill open said safe and store the contents thereof as provided for in Rule 6 and all liabil- ity of the Bank in relation to such contents shall cease upon the expiration of the ten days i=ediately following the mailing of such notice of cancellation. 8. INHERITANCE TAX EXAMINATION. The Bank's procedures and requirements regarding exami11.ation of safes by and waivers or clearances from inheritance tax authorities shall be followed. 9. HOURS, etc. The Bank may fix the business days and the business hours for opening and closing the vaults, and said vaults may be wholly closed on any national or state holiday or upon any other day when said Bank shall deem such closing prudent and proper. If, however the Bank does permit acce,5s to the safes before or after business hours, the Bank shall not be held to have exceeded its authority in permitting such entrance. 10. AMENDMENTS AND ADDITIONS. The Bank shall have the right to make such amendments and additions to the Rules and Conditions as in its judgment may from time to time be prudent, desirable or proper in the conduct of its business and such amendments and additions shall apply to and bind existing contracts from and after the posting of same in the Bank's premises or upon receipts or statements that may from time to time be issued.