HomeMy WebLinkAboutAddendum - 7AMENDMENT NO. 7 TO AGREEMENT FOR BANKING SERVICES
THIS AMENDMENT, dated for reference purposes as October 11, 2023, is by and between the City of Renton ("CITY"),
a Washington municipal corporation, and U.S. Bank National Association ("BANK"). CITY and BANK are referred to
collectively in this Amendment as the "Parties.'' Once fully executed by the Parties, this Amendment is effective as
of the last date signed by both parties.
Whereas, CITY engaged the services of BANK under Agreement CAG-13-042, dated January 1, 2011 and subsequently
amended, to provide necessary banking services (referred to herein as the "Agreement");
Whereas, the Parties wish to amend the Agreement to change the term of contract in order to extend the existing
term three (3) additional years and update the fee schedule.
NOW THEREFORE, It is mutually agreed upon that CAG-13-042 is amended as follows:
1.
z.
3.
Term of Contract: Section 3, Term of Contract, is amended to read "The Term of this Agreement shall
commence on January 1, 2011 and extend through December 31, 2026."
Contract Sum: Effective January 1, 2024, Section 4, Contract Sum, is amended to replace the fee schedule
Exhibit B-1 to the Agreement with the updated fee schedule attached hereto and incorporated herein as
Exhibit B-2.
All terms of the Agreement not explicitly modified herein shall remain in full force and effect and such terms
shall apply to work performed according to this Amendment as if fully set forth herein.
IN WITNESS WHEREOF, the Parties have voluntarily entered into this Agreement as of the date last signed by the
Parties below.
CITY OF RENTON
B�vlAC)�
¾;Roller
Finance Administrator
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Date
By: ________ _ Shane Moloney
City Attorney
BANK
By: � �,. �
Vinita Kak
VP & Relationship Manager ;o I 17 / c?ool. 3
Date
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CAG-13-042, Adden #7-23
Approved by Shane Moloney via email 10/18/2023
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EXHIBIT B-2
Proforma Account Analysis
Page 2 of 9
Collected
Unit Total Balance
AFP Service Volume Price Price Reguired
Account Reconcilement Services
September 2023