25B - AGMT - FINANCING FIRMS - Laserfiche WebLink

Home Browse Search

3.0 COORDINATION OF WORK 3.1 Representatives of Investment Banker. James Cervantes and Raul Amezcua are hereby designated as being the representatives of the Investment Banker authorized to act in its behalf with respect to the work and services specified herein and make all decisions in connection therewith. 3.2 Contract Officer. The City Manager of the City of Santa Ana, is hereby designated as being the representative of the City authorized to act in its behalf with respect to the work and services specified herein and make all decisions in connection therewith ("Contract Officer"). The City Manager shall have the right to designate another Contract Officer by providing written notice to the Investment Banker. 3.3 Prohibition Against Subcontracting or Assignment. Investment Banker shall not contract with any entity to perform in whole or in part the work or services required hereunder without the express written approval of the City. Neither this Agreement nor any interest herein may be assigned or transferred, voluntarily or by operation of law, without the prior written approval of the City. Any such prohibited assignment or transfer shall be void. 3.4 Independent Contractor/Role Disclosure. Neither the City nor any of its employees shall have any control over the manner, mode or means by which the Investment Banker, its agents or employees, perform the services required herein, except as otherwise set forth. Investment Banker shall perform all services required herein as an independent contractor of the City and shall remain under only such obligations as are consistent with that role. Investment Banker shall not at any time or in any manner represent that it or any of its agents or employees are agents or employees of the City. The Investment Banker is serving as an underwriter or placement agent and is not a “municipal advisor” or financial advisor as such term is defined by the Securities Exchange Commission. 4.0 INSURANCE AND INDEMNIFICATION 4.1 Insurance. The Investment Banker shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to the City, during the entire term of this Agreement including any extension thereof, the following policies of insurance: (a) Comprehensive General Liability Insurance. Investment Banker shall maintain commercial general liability insurance which shall include, but not be limited to protection against claims arising from bodily and personal injury, including death resulting therefrom and damage to property, resulting from any act or occurrence arising out of Investment Banker’s operations in the performance of this Agreement, including, without limitation, acts involving vehicles. The amounts of insurance shall be not less than the following: single limit coverage applying to bodily and personal injury, including death resulting therefrom, and property damage, in the total amount of $1,000,000 per occurrence, and in the aggregate. Such insurance shall (a) name the City, its officers, employees, agents, volunteers and representatives as additional insured(s); (b) be primary and not contributory with respect to insurance or self-insurance programs maintained by the City; and (c) contain standard separation of insureds provisions. (b) Worker's Compensation Insurance. A policy of worker's compensation insurance in such amount as will fully comply with the laws of the State of