Plano Texas Account Control Agreement

Category:

Contracts - Mutual Agreements

State:

Multi-State

City:

Plano

Control #:

US-C-MA-77334-01

Format:

Instant download

Description

This is a sample Account Control Agreement. An account control agreement, sometimes called a deposit account control agreement or simply, DACA, is a legal contract executed between a deposit customer, their lender, and a bank. This agreement enables a borrower to grant a lender security interest in a bank account. Deposit account control agreements are highly specific and used most commonly in commercial real estate transactions. DACAs usually provide the most benefits to the lender because having interest in a borrower’s account lessens the lenders financial risk. The bank involved in the account control agreement should be willing to work with both parties to help ensure the terms of the agreement are fair. The lender can set up a distribution schedule with the bank to provide extra flexibility with account management.

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FAQ

In a recent SmartAsset study, Plano ranked #9 for the wealthiest middle class. The median salary for a Plano resident is $95,002. In a SmartAsset study of the median household income in America's largest 100 cities, Plano ranked #9 for the most wealthy middle class.

Plano, considered the ?Balloon Capital of Texas,? hosts a popular hot-air balloon festival each September. Inc. 1873.

In 1994, the city was recognized as an All-America City. By 2000, the population grew to 222,030, making it one of the largest suburbs of Dallas. Plano is surrounded by other municipalities and therefore cannot expand in area, and there is little undeveloped land remaining within the city limits.

Quality medical care facilities, superior educational opportunities, and excellent recreational and cultural amenities contribute to the quality of life for Plano's citizens.

Plano Demographics White: 55.55% Asian: 22.68% Two or more races: 9.2% Black or African American: 9.02%

Plano is the headquarters of Frito-Lay, a division of Pepsico. Heritage Farmstead Museum occupies a former sheep ranch. Plano, considered the ?Balloon Capital of Texas,? hosts a popular hot-air balloon festival each September.

Plano (/?ple?no?/ PLAY-noh) is a city in the U.S. state of Texas, where it is the largest city in Collin County. Plano is also one of the principal cities of the Dallas-Fort Worth metropolitan area.

The median property value in Plano, TX was $358,100 in 2021, which is 1.46 times larger than the national average of $244,900. Between 2020 and 2021 the median property value increased from $341,800 to $358,100, a 4.77% increase.