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Res89 11093
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Res89 11093
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Last modified
10/11/2019 1:52:04 PM
Creation date
10/11/2019 1:52:01 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Date
7/24/1989
Description
RES 0 L UTI 0 N N O. 11093 ORiGINAL RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF JUL 2 4 ~ AGREEMENT WITH GREAT WESTERN SAVINGS BANK FOR ~ ADMINISTRATION OF A DEFERRED COMPENSATION PLAN FOR THE CITY OF REDWOOD CITY
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<br />c. From Great Westem tQ other Invesbnent Providers <br /> <br />GREAT WESTERN will allCM the transfer of furrls in participant <br />sub-aCXX>UI1ts to other invesbrent providers. Sum transfers will be <br />allCMed only upon express written agreement between AGENCY arrl GREAT <br />WESTERN and. will be allaved throughout the term of this Agreement. <br /> <br />Transfers will be processed in accordance with the provisions of <br />number 10. (Fees and. Expenses) and. 11.a. and. or b. <br /> <br />12. CIROJMSTANCES EXaJSING PERFORMANCE: '!he perfonnance by the parties to this <br />Agreement is subject to force majeure arrl is excused by fires, power <br />failures, strikes, acts of God, restrictions imposed. by goverrnnent, or <br />delays beyond the delayed party's control. Failures of or defaults by <br />invesbrent vehicles other than GREAT WESTERN shall excuse perfonnance by <br />GREAT WESTERN thereby prevented. <br /> <br />13. INDEMNIFICATION: Notwithstanding any other provision herein to the <br />contrary, GREAT WESTEHN agrees to be solely responsible to AGENCY for any <br />and. all services perfonned by GREAT WESTERN or its employees under this <br />Agreement. GREAT WESTERN shall be responsible for any error or negligence <br />cormnitted by GREAT WESTERN or its employees. AGENCY shall be responsible <br />for any error or negligence committed by AGENCY or its employees. GREAT <br />WESTERN shall not be liable for invesbrent perfonnance, except as expressly <br />provided for in this Agreement <br /> <br />14. ASSIGNABILITY: No party to this Agreena1t shall assign the same without the <br />express written consent of the other party, sum consent not to be <br />unreasonably withheld. Unless agreed to by the parties, 00 sum assigrnnent <br />shall relieve any party to this Agreena1t of any duties or responsibilities <br />herein. <br /> <br />15. PARTIES BXJND: '!his Agreement arrl the provisions thereof shall be binding <br />uIX>n and shall inure to the benefit of the successors arrl assigns of the <br />respective parties. <br /> <br />16. APPLICABLE LAW: 'Ihis Agreement shall be consb:ued in accordance with the <br />laws operating within the state of Califomia. As sum, this agreement <br />must be signed. by the Treasurer of the Agerr::;y. <br /> <br />17. UNlAWFUL PROVISIONS: In tile event any provisions of this Agreement shall be <br />held illegal or invalid for any reason, said illegality or invalidity shall <br />not affect the reJ11aining parts of the Agreement, but the same shall be <br />construed and enforced as if said illegal or invalid provision had never <br />been inserted herein. Notwithst:an:lin:J anything contained herein to the <br />contrary, no party to tilis Agreement will be required to perfonn or rerrler <br />any services hereunder, the perfonnance or rerrlition of whim would be in <br />violation of any laws relating thereto. <br /> <br />- 7 - <br /> <br />11093 <br />
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