Res 2006-010 - Laserfiche WebLink

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-- -- II 5.3 The Depository will furnish to the City at such time and in such form as the City may require, financial statements including audited financial statements, quarterly FDIC call reports, records, data and information, as the City may request 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, management, or financial position of the Depository or its parent as soon as information becomes available. ARTICLE 6 OWNERSHIP AND USE OF DOCUMENTS 6.1 All documents provided by the Depository in connection with this Agreement will become the property of the City. 6.2 The Depository will retain all of its records and supporting documentation relating to this Agreement, and not delivered to the City, for a period of three 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 OF AGREEMENT 7.1 The term of this Agreement begins on the effective date established in the first paragraph of the Agreement and will continue for a period of three years until January 31, 2009. This Agreement may be extended for two additional one year terms upon approval of the City provided all terms and conditions, except for the contract period being extended, remain unchanged and in full force and effect. The contract price for any renewal period will be adjusted in a percentage amount equal to the net percentage change from the previous year in the Consumer Price Index for all Urban Consumers (CPI-U) for the U.S. City Average for all Items, 1982-84 =100 Dallas-Fort Worth Region. If this renewal option is exercised it will be executed in the form of an Authorization in Change of Services Form, to be issued not sooner than 120 days prior to the expiration of this Agreement, and not later than the final day of the Agreement period. The decision to renew this Agreement will be at the sole discretion of the City. Refusal by the City to exercise this renewal option will require this Agreement to expire on the original or mutually agreed upon date. The total period of this Agreement, including all renewals as a result of exercising this option may not exceed a maximum combined period of five years. 7.2 This Agreement may be terminated at will by the City upon at least 15 days prior written notice to the Depository. 7.3 The Depository may terminate this Agreement in accordance with the Treasury Services Terms and Conditions Booklet (hereinafter, "the Booklet"). Except, however if the City does not comply with any material provision of the Booklet related to electronic funds transfer services, Controlled Disbursement Services, Check Issuance or Client Printed Drafts Services, Bank may terminate such Service immediately. For all other Services, if the City fails to correct the noncompliance within 30 business days of receipt of written notice from the Depository of the 5