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REV: 07-22-2021 MI <br />have any obligation to purchase, sell or exchange any security for the Managed Funds <br />solely by reason of the fact that Consultant, its principals, affiliates, or employees may <br />purchase, sell or exchange such security for the account of any other client or for itself <br />or its own accounts. <br />31.7 Disciplinary Actions. Consultant shall promptly give notice to City if Consultant <br />shall have been found to have violated any state or federal securities law or regulation <br />in any final and unappealable judgment in any criminal action or civil suit in any state <br />or federal court or in any disciplinary proceeding before the Securities and Exchange <br />Commission (“SEC”) or any other agency or department of the United States, any <br />registered securities exchange, FINRA, or any regulatory authority of any State based <br />upon the performance of services as an investment advisor. <br />31.8 Books. Consultant shall maintain records of all transactions in the Managed <br />Funds. Consultant shall provide City with a monthly statement showing deposits, <br />withdrawals, purchases and sales (or maturities) of investments, earnings received, <br />and the value of assets held on the last business day of the month. The statement <br />shall be in the format and manner that is mutually agreed upon by Consultant and <br />City. <br />31.9 Brochure and Brochure Supplement. Consultant warrants that it has delivered <br />to City prior to the execution of this Agreement Consultant's current SEC Form ADV, <br />Part 2A (brochure) and Part 2B (brochure supplement). City acknowledges receipt of <br />such brochure and brochure supplement prior to the execution of this Agreement. <br />(Signature Page Follows) <br />ATTY/AGR.2021.129/PFM Asset Management LLC (Investment Advisory Services) (Page 11 of 17)