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Reso 2009-1489
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Reso 2009-1489
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Last modified
7/1/2010 9:43:08 AM
Creation date
10/26/2009 3:45:30 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2009-1489
Date (mm/dd/yyyy)
10/15/2009
Description
Agmts w/Bank of America for Government Banking Srvs
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THIRD-PARTY INFORMATION <br />If you gain, through your use of one or more Services, access to any information relating <br />to any person other than us, you or any of your Subsidiaries which have authorized your <br />receipt of such information, you agree that you will treat such third-party information as <br />strictly confidential and you shall not disclose it to any person outside your company or to <br />any persons within your company except those who have a need to know. Further, you <br />shall ensure that adequate measures have been taken to prevent the unauthorized use of <br />any such third. party information. You agree that you will not use any such third-party <br />information for your own purposes other than in a communication to us relating to the <br />Service. <br /> <br />LOCKBOX <br /> <br />Our Lockbox Services involve the processing of checks and other payment instruments, such <br />as drafts, that are received at a Lockbox Address or by special arrangement with us, <br />excluding without limitation the processing of cash, stock certificates and tangible <br />valuables. With a Lockbox Service, you instruct your customers to mail checks and other <br />payment instruments you want to have processed under a Service to the Lockbox <br />Address. We are not liable to you for losses you suffer if anything other than checks or other <br />payment instl1lments are sent to the Lockbox Address. We and/or our agents will have <br />unrestricted and exclusive access to the mail sent to the Lockbox Address. <br /> <br />If we receive any mail containing your lockbox number at our lockbox operations location <br />(instead of the Lockbox Address), we may handle the mail as if it had been received at the <br />Lockbox Address. <br /> <br />PROCESSING <br />We will handle checks received at the Lockbox Address according to the applicable Account <br />Agl'eement, applicable User Documentation and our availability schedule, as if the checks <br />were delivered by you to us for deposit to your designated account, except as modified by this <br />Booklet. <br /> <br />We will open the envelopes picked up from the Lockbox Address and remove the <br />contents. Checks and other documents contained in the envelopes will be inspected and <br />handled in the manner specified in the set-up documents for the applicable Lockbox <br />Address. We capture and report information related to the lockbox processing, where <br />available, if you have specified this option in the set-up documents. As appropriate, we will <br />endorse all checks we process on your behalf and deposit them in the account you designate <br />for the applicable Service. <br /> <br />lfwe process an unsigned check as instructed in the set-up documents, and the check is paid, <br />but the account owner does not authorize payment, you agree to indemnify us, the drawee <br />bank (which may include us) and any intervening collecting bank for any liability or expense <br />incurred by us or such other bank due to the payment and collection of the check. <br /> <br />AD-AG-0455B (2004-2) <br /> <br />31 <br />
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