Agmt08 Wells Fargo Bank - Laserfiche WebLink

Browse Search

mutually agreed upon by City and Bank, and under no circumstance shall any banking service fee increase greater than seven percent (7%) per year. 5. Time is of the Essence. Time is of the essence for each and every provision of this Agreement. 6. Compensation. Payment for fees will be based upon the schedule of fees presented in Exhibit A Payment will occur only after receipt by City of an account analysis of the services utilized." 7. Status of Bank. Bank will perform the Services in Bank's own way as an independent contractor and in pursuit of Bank's independent calling, and not as an employee of City. The persons used by Bank to provide services under this Agreement will not be considered employees of City for any purposes. The payment made to Bank pursuant to the Agreement will be the full and complete compensation to which Bank is entitled. City will not make any federal or state tax with holdings on behalf of Bank or its agents, employees or subcontractors. City will not be required to pay any workers' compensation insurance or unemployment contributions on behalf of Bank or its employees or subcontractors. Bank agrees to indemnify City within thirty (30) days for any tax, retirement contribution, social security, overtime payment, unemployment payment or workers' compensation payment which City may be required to make on behalf of Bank or any agent, employee, or subcontractor of Bank for work done under this Agreement. At the City's election, City may deduct the indemnification amount from any balance owing to Bank. 8. SubcontractinQ. If Bank subcontracts any of the Services, Bank will be fully responsible to City for the acts and omissions of Bank's subcontractor and of the persons either directly or indirectly employed by the subcontractor, as Bank is for the acts and omissions of persons directly employed by Bank. Nothing contained in this Agreement will create any contractual relationship between any subcontractor of Bank and City. Bank will be responsible for payment of subcontractors. Bank will bind every subcontractor and every subcontractor of a subcontractor by the terms of this Agreement applicable to Bank's work unless specifically noted to the contrary in the subcontract and approved in writing by City. 9. Other Banks. The City reserves the right to employ other Banks in connection with the Services. 10. Indemnification. Bank shall indemnify, defend and hold harmless City and its officers, directors, employees, agents and assigns from and against all claims, losses, demands, liability, judgments, awards, interest, attorney's fees and costs arising out of, resulting from or relating to the performance of the Services hereunder or the Service Documentation, caused in whole or in part by the negligent or intentional acts or omissions of Bank or any of its officers, directors, employees, agents or assigns. A TTY/AGR/2008.074 090208 2