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City of Sunny Lyles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160
<br />(305) 947 -0606 phone (305) 949-3 1 13 Fax
<br />which Bank must otherwise obtain the City's consent, such consent shall not be unreasonably
<br />withheld.
<br />8. INSPECTION RIGHTS AND RETENTION OF RECORDS. City shall have the
<br />right, at reasonable times and upon reasonable request, during the term of this Agreement and for
<br />three (3) years thereafter, to inspect the books, records, and accounts of Bank that pertain to the
<br />Services performed under this Agreement. Bank shall keep such book, records and accounts as
<br />may be necessary in order to record complete and correct entries related to Services performed
<br />under this Agreement, as required by applicable law. All books, records, and accounts of Bank
<br />related to this Agreement shall be kept in written or electronic form, or in a form capable of
<br />conversion into written form within a reasonable time, and upon reasonable request to do so,
<br />Bank, as applicable, shall make same available at no cost to City in written or electronic form.
<br />Review and inspection of Bank records by the City may be made available subject to Bank
<br />policy and to applicable federal laws and regulations, and those of the City of Sunny Isles Beach
<br />and the State of Florida that may otherwise restrict or prohibit access to Bank's financial and
<br />banking records by third parties.
<br />Bank shall preserve and make available, at reasonable times for examination and inspection by
<br />City, all financial records, supporting documents, statistical records, and any other documents
<br />pertinent to this Agreement for the required retention period of the Florida Public Records Act,
<br />Chapter 119, Florida Statutes, as may be amended from time to time, if applicable, or, if the
<br />Florida Public Records Act is not applicable. for a period of seven (7) years from the date of the
<br />banking transaction, or as otherwise required by Bank's policies and applicable federal, City of
<br />Sunny Isles Beach and State of Florida laws and regulations related to the retention of such
<br />records. If the Florida Public Records Act is applicable to Bank's records, Bank shall comply
<br />with all requirements thereof. Any incomplete or incorrect entry in such books, records, and
<br />accounts shall be a basis for City's disallowance and recovery of any payment upon such entry.
<br />9. INSURANCE. Bank shall, at its sole cost and expense, during the period of Services
<br />performed under this Agreement, procure the insurance coverage amounts required by the RFP
<br />and as otherwise required by applicable banking rules and regulations under applicable federal
<br />and state law.
<br />10. INDEMNIFICATION. Bank shall indemnify and hold harmless the City, its agents
<br />and employees from or on account of any losses, costs and damages incurred by third parties,
<br />including reasonable attorney's fees and the actual costs of defense resulting from any act or
<br />omission of gross negligence, willful misconduct or bad faith by the Bank or its subcontractors,
<br />agents, servants or employees.
<br />Subject to the limitations of Section 768.28 of the Florida Statutes, as applicable and as may be
<br />amended from time to tirne, the City shall indemnify and hold harmless the Bank, its directors.
<br />officers, employees, and agents from or on account of any losses, costs and damages incurred by
<br />third parties, including reasonable attorney's fees and the costs of defense, resulting from any
<br />actions or omission of the Bank taken or omitted to be taken at the request of the City, its
<br />employees or agents, or otherwise arising out of any negligent act or omission or failure to
<br />exercise reasonable care by the City, its employees or agents. Subject to the aforesaid limitation,
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