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<br />self-insurance maintained by City for itself, its officers, agents, volunteers and <br />employees, will be in excess of Bank's insurance and not contributory with it. <br /> <br />11.7 Reduction in Coveraqe/Material Chanqes. Bank will endeavor to notify <br />City thirty (30) days prior to any reduction in any of the insurance coverage <br />required pursuant to this Agreement or any material changes to the respective <br />insurance policies. <br /> <br />12. Business License. Given that Wells Fargo is a National Bank the National <br />Banking laws and the Office of the Controller of the Currency exempt us from obtaining <br />local business licenses. <br /> <br />13. Maintenance of Records. Bank will maintain complete and accurate records with <br />respect to costs incurred under this Agreement. All records will be clearly identifiable. <br />With prior reasonable notice the Bank will allow a representative of City during normal <br />business hours to examine, audit, and make transcripts or copies of records and any <br />other documents created pursuant to this Agreement. Bank will allow inspection of all <br />work, data, documents, proceedings, and activities related to the Agreement for a <br />period of three (3) years from the date of final payment under this Agreement. <br /> <br />14. Ownership Of Documents. All work product produced by Bank or its agents, <br />employees, and subcontractors pursuant to this Agreement is the property of City. In <br />the event this Agreement is terminated, all work product produced by Bank or its <br />agents, employees and subcontractors pursuant to this Agreement will be delivered to <br />City pursuant to the termination clause of this Agreement. Bank will have the right to <br />make one (1) copy of the work product for Bank's records, and retain records to the <br />extent required by applicable law, rule or regulation or document retention policy. <br /> <br />15. Notices. The name of the persons who are authorized to give written notices or <br />to receive written notice on behalf of City and on behalf of Bank under this Agreement. <br /> <br />For City: <br />City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />(650) 780-7000 <br />Attn: City Manager <br /> <br />For Bank: <br />Wells Fargo Bank <br />MAC A0112-102 <br />550 California Street, 10th Floor <br />San Francisco, CA 94104 <br />(415) 396-7426 <br /> <br />Attn: Shelly Rintala <br />VP/ Relationship Manager <br /> <br />ATTY/AGR/2008.074 <br />090208 <br /> <br />5 <br />