Res 2015-135/approving an agreement between the City and Wells Fargo Bank, N.A. for the provision of Depository Services contingent upon the depository’s provision of sufficient insurance in accordance with the attached agreement

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I)h,POSITORY SI �,I2VICES MASTI?R A(.- ;I2EEMEN'r Contract Number: 215 -178 This Agreement (the "Agreement") is eliective this the 20th clay of October, 2015 between the City of San Marcos, "Texas (the "City "), 630 [East Ilopkins, San Marcos, "Texas 78666 and Wells Fargo Bank, N.A. (the "Depository ") 123 North Edward Gary Street, San Marcos, "T'exas 78666 -5703 for the provision of banl: depository services. The City and the Depository agree as follows: ARTICLE 1. S'C'ANDARDS OF PERFORMANCE 1.1 The performance ofalt services by the Depository in connection with this Agreement will be by persons appropriately licensed or registered under State, local and Federal laws. The Depository certifies that it is a federally chartered financial institution, a member of the Federal Reserve System and is insured by the Federal Depository Insurance Corporation (the "FDIC "). In performing all services under this Agreement, the 1.)epository will use that degree of care and skill ordinarily exercise([ by national financial. institutions that possess special expertise in the types of services involved under this Agreement. In addition, the Depository will comply with the Texas Public Funds Collateral Act. 1.2 The Depository will not subcontract any work required under this Agreement specifically on the City's behalf without prior written approval from the City. Any work or services subcontracted by the Depository specific to this Agreement wilt be subject to each applicable provision. of this Agreement. In the event the Depository engages any subcontractor or other third party in the performance of this Agreement, the Depository with be responsible for such subcontractor's or third party's performance in accordance with the terms and conditions of this Agreement. 1.3 Any provisions in this Agreement pertaining to the City's review, approval and /or acceptance of written materials prepared by the Depository and /or its subcontractors, contractors and subconsultants in connection with this Agreement will not diminish the Depository's responsibility for the materials. 1.4 The Depository wilt perform all of its services in coordination with the City. The Depository will advise the City of data and information the Depository needs to perform its services. The City may require a review meeting with the Depository representatives occasionally to evaluate the working relationship between the (.. ity and the Depository. The objective of these meetings is to address any problems and to discuss the procedures involved in protecting the City's finds and pledged collateral. Ryan Branigan, Senior Business Relationship Manager, is the Depository's representative under this agreement. The Depository will notify the City prior to any change in the Depository's representative.