1 Collateral value will be determined by LPL Financial derived from the previous day’s closing price of the security. Elements Financial will lend up to 70% of the value of any securities, subject to credit approval, held in an LPL Collateralized Loan Account, except for the purpose of purchase or carrying securities, which the maximum loan to value will be 50% as in accordance to Regulation U. Stock loan minimum is $5,000. The interest rate shall be a variable rate equal to the Prime Rate as published in The Wall Street Journal on the last day of the previous month plus or minus a margin rounded to the nearest 0.25%. The rate will never be higher than 18%.