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2017-016
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2017-016
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Last modified
2/9/2017 11:35:06 AM
Creation date
2/9/2017 11:35:05 AM
Metadata
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Template:
Official Documents
Official Document Type
Amendment
Approved Date
02/07/2017
Control Number
2017-016
Agenda Item Number
8.C.
Entity Name
Regions Bank
Subject
Amendment to Master Treasury Management
Lockbox Contract
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A TRUE COPY <br /> G'ERTOFICATION, ON LAST PAGE <br /> J.R. SMITH, CLERK <br /> AMENDMENT To REGIONS BANK MASTER TREASURY <br /> MANAGEMENT SERVICES AGREEMENT AND <br /> SERVICES ADDENDA <br /> This Amendment to Regions Bank Master Treasury Management Services Agreement <br /> (the "Amendment") is made as of the 7th day of February, 2017 (the "Effective Date") by and <br /> between Regions Bank (the"Bank"), and Indian River County, Florida("Indian River"). <br /> WHEREAS, Indian River and the Bank have previously entered into a Master Treasury <br /> Management Services Agreement (the "Agreement"), together with the Bank's Account Terms <br /> and Conditions, and various service addenda (the "Services Addenda", and together with the <br /> Agreement, collectively referred to herein as the (the "Services Agreements"). <br /> WHEREAS, Indian River has designated various deposit accounts for services under the <br /> Agreement(collectively,the "Accounts"); <br /> WHEREAS, Indian River is an agency of Florida state government and represents and <br /> warrants to the Bank that all funds held in the Accounts are owned by Indian River and that the <br /> services obtained in connection with the Accounts (the "Services") will be obtained in <br /> connection with official government business of the county; and <br /> WHEREAS, the Bank has submitted a response to a request for proposal for the lockbox <br /> services (the "Lockbox Services") dated September 1, 2016 (the "RFP") and the parties intend <br /> for certain terms of the RFP to be incorporated as part of the Services Agreements with respect <br /> to the Services. <br /> NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth <br /> herein, and for other good and valuable consideration, the receipt and sufficiency of which is <br /> hereby acknowledged,the parties agree as follows: <br /> I. Indemnification. Any indemnification contained in the Services Agreements shall be <br /> only to the extent allowed by and within the limits of liability provided by section <br /> 768.28,Florida Statutes, and shall not be deemed a waiver of sovereign immunity. <br /> 2. Term. The term of the Services Agreements shall commence on the Effective Date <br /> and continue for three (3) years. On the anniversary date of this Amendment at the <br /> end of the initial three-year term, the Services Agreement shall automatically renew <br /> for a two-year term. On the anniversary date of this Amendment at the end of the <br /> two-year renewal term, the Services Agreements shall automatically renew for a <br /> second two-year term. Such renewals shall be automatic unless either party notifies <br /> the other in writing of its intent to terminate this Amendment at least 30 days prior to <br /> the next scheduled anniversary date. If not terminated early, this Amendment and the <br /> Services Agreement shall terminate on the seventh anniversary date hereof. <br /> 1/42006951 <br />
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