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2.1.27 Receive written instructions sent by the City to the securities clearance department for each transaction. Most of these instructions will be sent by facsimile to assure the timeliness of the operation. Norwest will give the City prompt notice of any settlement problems, including securities delivered where the instructions do not match or where instructions have not been given to Norwest. Miscellaneous Bank Materials: 2.1.28 Furnish the following materials to the City at no charge: a. All coin and currency wrappers and rubber stamps; and b. Printed deposit slips 2.2 COLLATERAL REQUIREMENTS: Norwest will: 2.2.1 Comply with Government Code Chapter 2257, Collateral for Public Funds. Norwest will'deposit eligible securities as defined below with a third party custodian designated by Norwest prior to the deposit of any City funds. Norwest will maintain the pledged collateral at all times during the term of this Agreement at the levels required in this section. In compliance with the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), a fully executed collateral agreement, Pledge of Securities and Security Agreement between Norwest and the approved custodian is attached as Attachment C. to this Agreement. Norwest's Board of Directors or Loan Committee as reflected in certified minutes given to the City has approved the collateral agreement in resolution form. Norwest will present to the City the signed collateral agreement, Board resolution and minutes certifying approval of the collateral agreement prior to the deposit of City funds. 2.2.3 Securities pledged to the City will be approved quarterly by the Loan Committee and/or Norwest's Board of Directors and will be recorded in the minutes of same so that State or Federal (FDIC) Regulatory or Audit Agencies can readily determine the securities pledged to the City. Norwest will provide signed copies of minutes, excluding confidential Norwest information, quarterly to the City. 2.2.4 Grant to the City a first priority security interest in the pledged securities and the Custodian Bank is authorized and instructed to release the collateral securities to the City if Norwest has been closed by a regulatory authority, or is in default of this Agreement, and if instructions for release have been formally requested by the City Council by ordinance or resolution. Eligible Securities: 2.2.5 Provide collateral at least five days prior to the commencement of the term of this Agreement for the City funds to be deposited. The following investment securities are 7