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I THE BANK OF CA' -ORNIA PERSONAL TRUST ~ERVICES CUSTODY AGREEMENT CLIENT DIRECTED Exhibit "A" CITY OF REDWOOD CITY ("Client") and 111e Bank of California, NA ("Bank"). 111is Agreement is made between TERMS AND CONDITIONS 1 L ~ppointment As Agent. Client hereby appoints Bank as agent to act as custodian of the cash, securities, and other property ("Property") described on Schedule A, attached hereto, and other Property which may be deposited by Client with Bank from time to time to be held in the account established by this Agreement ("Account"). Bank agrees to act as Client's agent for such Property according to the terms and conditions of this Agreement; provided however, that Bank shall have no duties or responsibilities with respect to any Property other than cash or market- able securities that may be held in this Account from time to time, unless specifically set forth in an Addendum to this Agreement --1 2_ Handling of Income and Principal. 2.1 Income. Bank shall collect the income when paid on said Property and hold it in a demand deposit income account until invested or othervvise disposed of pursuant to Client's written instructions- 2.2 Principal. Bank shall collect principal of Property when paid on maturity, redemp- tion, sale, or othervvise, and hold it in a demand deposit principal account until invested or otherwise disposed of pursuant to Client's written instructions- 2-3 Collection Obligations. Bank shall diligently collect income and principal of which the Bank has received actual notice in accordance with normal industry practices_ However, Bank shall be under no obligation or duty to take any action to effect collection of any amount if the securities or other Property upon which such amount is payable is in default, or if payment is refused after due demand unless the Bank has been adequately indemnified by Client in advance- Bank, however, shall notify Client promptly of such default or refusal to pay_ 2.4 Additions to and Withdrawals from Account. Bank shall make all additions and withdrawals of Property to and from this Account only upon receipt of and pursuant to written instructions from Client except for those withdrawals provided for in Section 4_ Upon receipt of such order for each withdrawal, unless othervvise instructed in writing, Bank shall deliver the property so withdrawn to Client or Client's designee, upon an appropriate receipt 3- Investment of Prope!1Y; 3_1 Directions by Client. Client shall have sole responsibility for the investment, review, and management of all Property held in this Account Bank shall make all purchases, sales, conversions, exchanges, investments and reinvestments of Property held in this Account only upon receipt of and pursuant to written instructions from Client Bank shall have no duty or obligation to review, or to make recommendations for, the investment and management of any Property held in this Account, including uninvested cash_ 3.2 Handle Corporate Actions. Bank shall notify Client of the receipt of notices of redemptions, conversions, maturities, exchanges, calls, puts, subscription rights, and scrip certif- icates ("Corporate Actions"). Bank need not monitor financial publications for notices of 1RS-16014 (2-89) Page I