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This excerpt taken from the FBNC 8-K filed Jun 24, 2009. Payment
of Deposits. In the event any depositor does not accept the obligation of
the Assuming Bank to pay any Deposit liability of the Failed Bank assumed by the
Assuming Bank pursuant to this Agreement and asserts a claim against the
Receiver for all or any portion of any such Deposit liability, the Assuming Bank
agrees on demand to provide to the Receiver funds sufficient to pay such claim
in an amount not in excess of the Deposit liability reflected on the books of
the Assuming Bank at the time such claim is made. Upon payment by the Assuming
Bank to the Receiver of such amount, the Assuming Bank shall be discharged from
any further
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obligation
under this Agreement to pay to any such depositor the amount of such Deposit
liability paid to the Receiver.
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