Agmt24 U.S. Bancorp Asset Management - Amendment No.1

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REV: 11-14-24 MI AMENDMENT NO. 1 TO AGREEMENT FOR SERVICES U.S. Bancorp Asset Management, Inc. This Amendment No. 1 (the “Amendment No. 1”) is entered into and effective as of _____________, 2024, by and between the City of Redwood City, a charter city and municipal corporation of the State of California (“City”), and U.S Bancorp Asset Management, Inc. , a Delaware corporation (“Consultant”) (collectively, the “Parties”). RECITALS A. The City and PFM Asset Management LLC, previously executed that certain Agreement for Services, dated as of November 10, 2021, (the “Agreement”). B. The City consented to the assignment of the Agreement to Consultant, C. The Parties have negotiated and agreed to the terms and conditions set forth in this Amendment No. 1, including any terms and conditions of the attached Exhibit A, incorporated herein by reference. NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained herein, the Parties agree as follows: 1. Consultant will provide the additional services set forth in Exhibit “A” to this Amendment No. 1, and such services will be considered part of the Services for purposes of the Agreement. 2. City will pay Consultant a not-to-exceed amount of One Hundred Thirty-Five Thousand Dollars ($135,000) for the completion of all the services described in Exhibit “A” to this Amendment No. 1, which sum will include all costs or expenses incurred by Consultant. Including all amendments through Amendment No. 1, the total amount payable under the Agreement will be a not-to-exceed amount of Four Hundred Ninety- Five Thousand Dollars ($495,000). 3. Unless terminated earlier, the term of this Amendment No. 1 will terminate on November 09, 2025.Including all amendments, through Amendment No.1, the total term of this Agreement is four years from the Effective Date of this Agreement. 4. Consultant will complete all work described in Exhibit “A” by November 10, 2025, provided that the City may grant extensions consistent with the extension provisions set forth in the Agreement. 5. Section 6.2 of the Agreement, shall be deleted and restated in its entirety as follows: 6.2. Consultant shall maintain adequate records and shall permit inspection and audit by City of Consultant’s charges under this Agreement. With thirty (30) days advance written notice to Consultant and no more than ATTY/AGR.2024/Amend.No.1/PFM Asset Management (PFM Asset Management_Amendment No.1) (Page 1 of 10) November 27