This excerpt taken from the BHBC 10-Q filed Nov 7, 2006.
OF SUCCESSOR CUSTODIAN FOR IRA ACCOUNTS
WHEREAS, FIRST BANK OF BEVERLY HILLS (Seller) and FIRST BANK (Buyer) are parties to that certain Branch Purchase and Assumption Agreement dated August , 2006 (the Agreement), pursuant to which Seller has agreed to assign and Buyer has agreed to assume the custodianship of certain of Sellers IRA Accounts (as such term is defined in the Agreement) maintained [under the custody of/as trustee by] Seller, and Buyer has agreed to assume such IRA Accounts upon the terms and conditions contained in the Agreement;
NOW, THEREFORE, for good and valuable consideration paid by Buyer, Seller does hereby sell, assign, and transfer to Buyer all of Sellers right, title and interest as [trustee or custodian] in:
1. The IRA Accounts as of the close of business on the Closing Date (as such term is defined in the Agreement); and
2. All records, files and correspondence, and documentation relating to the IRA Accounts.
Buyer hereby represents that it has adopted or will adopt the Individual Retirement Trust Account documents consistent with the requirements of the Internal Revenue Service (the Plan), and that Buyer assumes the responsibilities as Successor Custodian. Buyer warrants to Seller that it will adhere to all provisions contained in the Plan as now written, and shall only amend such applicable plan to the extent permitted by its terms or as otherwise permitted by law. Based upon the representations and warranties made by Buyer, Seller hereby appoints Buyer as Successor Custodian.
IN WITNESS WHEREOF, Seller and Buyer have caused this Assignment to be executed by their duly authorized officers as of this day of , 2006.