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Bay ,,‘„ Commercial. Bank WAIVER OF SECURITY To Whom It May Concern: Pursuant to Section 53653 of the Local Agency Deposit Security Law, a treasurer may, at his or her discretion,waive security for such portions as are insured pursuant to Federal law. WHEREAS, the Federal Deposit Insurance Corporation as set to $250,000.00, the maximum insurance for public accounts,and, WHEREAS, it is to the advantage of Bay Commercial Bank to increase the amount of its available collateral to secure the deposits of public accounts, and in so doing,without increasing the risk of the deposits of such public accounts; NOW,THEREFORE,the authorized agent of , a public institution, hereby agrees to waive the security required by Section 53652 of the Local Agency Deposit to $250,000.00 of the deposits of the described public institution. As a condition of the granting of this Waiver of Security, it is understood that Bay Commercial Bank shall continue to maintain approved collateral security for all deposits in excess of$250,000.00 per Section 53652 of the Local Agency Deposit Security Law. This Waiver shall remain in force as long as the deposit is continuous and the waiver has not been withdrawn by the treasurer. I am authorized to waive security in the sum of $250,000.00 for deposits held by Bay Commercial Bank. Local Agency: (Public Agency/Account Holder) By: (Signature of Officer of Public Agency/Account Holder) Title: (Position/Title of Officer of Public Agency/Account Holder) Date: