BANCORP BANK (THE); PHOENIX PAYMENT SYSTEMS, INC. DBA ELECTRONIC PAYMENT EXCHANGE (EPX)

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1.14. "Forced Sale" shall mean a sales Transaction processed without an approved electronic authorization number being obtained for the full amount of the sales Transaction at the time the Transaction is processed. 1.15. "Issuer" shall mean an Association member that issued a Card to a Cardholder. 1.16. "IVR" shall mean interactive voice response unit used for an Authorization. 1.17. "Manuals" shall mean the EPX System and Software associated API guides, manuals and instructions 1.18. "Merchant Servicer" shall mean non-members other than the Merchant and EPX that receive, pass, or store transaction data on their internal systems on behalf of the Merchant. This includes third party servicers, Web hosting companies, shopping cart providers, and media back-up companies. Merchant Servicers must be registered with Visa by Bank. 1.19. "Merchant Statement" shall mean an itemized daily and monthly statement of all charges and credits to the Operating Account. 1.20. "Operating Account" shall mean a demand deposit account at Bank, or other approved financial institution through which fees, charges and credits due in accordance with this Agreement may be processed. 1.21. "Pre-Authorized Recurring Order Transactions" shall mean Transactions which have been pre- authorized by the Cardholder and for which the goods or services are to be delivered or performed in the future by Merchant without having to obtain approval from the Cardholder each time. 1.22. "Reserve Account" shall mean an account at Bank for all future liabilities of Merchant to Bank or EPX which may arise out of this Agreement. 1.23. "Services" shall mean the transaction processing services provided by Bank or EPX under this Agreement. 1.24. "Softwaze" shall mean any software programs provided by EPX. 1.25. "Transaction" shall mean the acceptance of a Card or information embossed on the Card for payment for goods sold and/or leased or services provided to Cardholders by Merchant and receipt of payment from Bank, whether the transaction is approved, declined, or processed as a Forced Sale. "Transaction" also includes credits and voids. 2. Merchant Obligations and Requirements. 2.1. Merchant Card Processine. Merchant is in the business of selling and/or leasing goods and/or providing services to its customers. To better serve those customers, Merchant has requested and Bank and EPX has agreed to permit Merchant's participation in the card processing programs and services in relation to its municipal utility billing and dog licensing services. Without the prior written consent of Bank and EPX, Merchant is not authorized to process Transactions for payment for any other type of goods or services. Bank and EPX reserves the right to establish certain limits on volume of daily, weekly, and monthly transactions and dollar limits per Transaction which Merchant may process. Merchant agrees to participate in the credit card processing services program established by Bank and EPX. Initials Page 2 of 19