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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City may recluest pertaining to the matters covered by this Agreement. The Depository will provide the City with a copy of any public information concerning changes in ownership, managcment, or financial position of the Depository or its parent as soon as information becomes available. A11TICLE 6 OWNERSHIP AND USE OF DOCUMENTS 6.I All documents provided by the Depository in connection with this Agreement are the property of the City. 6.2 The Depository or its successors will retain all of its records and supporting documentation relating to this Agreement, and not delivered to the City, for a period of th-ree years except in the event that the Depository goes out of business during that period, it will turn over copies, to the City, all of its records relating to its services under this Agreement for retention by the City. ARTICLE 7 TERM /TERMINATION OF AGREEMENT 7.1 The terra of this Agreement begins on November 1, 2015, and will continue for a period of five years until October 3 1, 2020 unless terminated in accordance with subsection 7.2 or 7.3 below. 7.2 The City may terminate this Agreement for convenience and without cause upon at least 15 calendar clays prior written. notice to the Depository. The Depository may terminate this Agreement for convenience and without cause upon at least 90 calendar days prior written notice to the City. 7.3 This Agreement may be terminated by either party upon 60 calendar days prior written notice should the other party fail substantially to perform in accordance with the terms of the Agreement through no fault of the party initiating the termination. 7.4 In the event of' termination as provided in this Article, the City will compensate the Depository for all services satisfactorily performed to the termination date that are in accordance ,,vith this Agreement. The C:'ity will pay this amount upon the I:)epository's delivering to the City all previously undelivered. information and materials developed or accumulated by the Depository in performing the services described in this Agreement, whether completed or in progress. The expense of reproduction of these items will be borne by the City. ARTICLE 8 INSURANCE AND INDEMNITY 8.1 The Depository will indemn fv, hold harmless and defend the City and its employees, agents, officers and .servants from any and all lawsuits, claims, demands and causes of action of any kind (collectively, "Claims ") arising solely from the negligent or intentional wrongful acts or omissions of the Depositor yv, its officers, einplqyees or ag=ents. This will include, but 5