Res 2010-078 - Laserfiche WebLink

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DEPOSITORY SERVICES MASTER AGREEMENT This Agreement is made this the 1st day of June, 2010, between the City of San Marcos, Texas ( "City "), 630 East Hopkins, San Marcos, Texas 78666 and Wells Fargo Bank, N.A. (the "Depository ") 123 North Edward Gary Street, San Marcos, Texas 78666 -5703 for the provision of bank depository services. The City and the Depository agree as follows: ARTICLE 1 STANDARDS OF PERFORMANCE 1.0 The performance of all 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 Depository will use that degree of care and skill ordinarily exercised by national financial institutions that possess special expertise in the types of services involved under this Agreement. 1.1 The Depository will not subcontract any work under this Agreement without prior written approval from the City. Any work or services subcontracted under this Agreement will be specified by separate written agreement and will be subject to each provision of this Agreement. 1.2 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 in connection with this Agreement will not diminish the Depository's responsibility for the materials. 1.3 The Depository will 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 City and the Depository. The objective of these meetings is to address any problems and to discuss the procedures involved in protecting the City's funds and pledged collateral. Ryan Branigan, Senior Vice President is the Depository's representative under this agreement. The Depository will not substitute another representative without the City's written approval. 1.4 The Depository and the City, designate the Federal Reserve Bank of San Francisco as the Custodian to hold in trust, according to the terms and conditions of this Agreement, any necessary collateral and substitute collateral, which may be required under this Agreement. 1.5 The Depository will notify the City in writing within 10 calendar days of any changes in Federal or State regulations or laws that would affect this Agreement. The Depository will also use its best efforts to notify the City of any services that become available to the City throughout the term of this Agreement. All services will be provided through the Depository's branch 1