JPMorgan Chase Bank letter

February 25, 2014 By Emailed .[3df3?1d Overnight Mail Mr. Dean Danes Executive Director Alamo Area Councit of Govcmments 8700 Tesoro Drive, Suite 700 San Antonio TX 78217-6228 ddanos@aacog.com Dear Mr. Danos, This is to confinn our recent conversation that, for the reasons we discussed, JPMorgan Chase Bank, NA. (the "Bani<") wishes Alamo Area Council of Governments (the "Cornpany") to move its banking relationship to another financial institution. Attached hereto as Exhibit A is a list of alt the affected Company accounts of which the Bank currently is aware, including a Company commercial credit card account, As we discussed, the credit limit on the credit card account has been reduced to $500,000.00. In order to enable an orderly transition to occur, the Bank is willing to continue to maintain the existing Company accounts and related services until May 31, 2014. However, alt such services remain subject to the banl<'s terms and conditions. Specifically, the Bank reserves the right to ask questions, otherwise investtgatc and/or reject or otherwise decline to consummate any transaction involving the accounts with which it is uncomfortable. If the Company has not closed its accounts by May 31, 2014, the Bank wiil ctose the accounts and terminate such services itself. If there is a positive baiance in any Company account after all outstanding transactions have cieared and the credit card Account obligations have been satisfied, we will issue a check for the balance (less any outstanding fees and service charges) and mait it directly to the Company at the above address. Therefore, if the Company wishes to avoid unnecessary disruption of its cash flow and business, it is that it act to open accounts with another financial institution and transfer its business before May 31, EOI4. If you have any questions or comments please feel free to call. Sincereiy, Brenda A. Poliarci Exhibit A Account Title Aecount Numlyer Alamo Area Council offirovemments SS1 Checking Alamo Area Council of Govemments Holiday Fund Acct Alamo Area Council of Governments Employee Fund Alamo Area Council of Goveemnents General Account Alamo Area Council of Governmems ?ayro?l Alamo Area Council of Governments High Yield Savings Alamo Area Council of Governments Safe Deposit Box Alamo Area Council of Govemments Commercial Card Alamo Area Development Corporafion Alamo Area Housing Finance Corporation