86-150 Chemical Bank - Custodian Account Contract for servicing CD's for the City of CupertinoN' /'6- o
SNOCE DEPL
CKMICIAN� Elflgry� p�
MAY 191986
J U L v4 11986
CUSTODIAN ACCOUNT CONTRACT
62595
ACCOUNT NUMBER
CITY OF CUPERTINO
ACCOUNT TITLE
FOR THE EXCLUSIVE USE OF
THE FAIC SECURITIES, INC.
CERTIFICATE OF DEPOSIT
PROGRAM
You area uthorized to open a custody account forth servicing of certificates of deposit (hereinafter referred
to as a" certificate of deposit' ora"CD") in accordance with the following instructions and understandings. In this
agreement the words "I," "me" and "my' shall refer to the person or entity identified in Section 17 hereof.
1. You will follow my instructions or the instructions of my advisor, FAIC Securities, Inc. ("FAIC"), with
respect to the receipt and remittance of funds for my account for the purchase and sale of certificates of deposit.
You are authorized to accept and rely upon all instructions given me or by FAIC including instructions given by
telephone, telex, cable or other similar method if you believe them to be genuine. All authorizations and
instructions, unless otherwise expressly provided, shall continue effective until cancelled or superceded by
subsequent instructions received by you.
2. You are authorized to keep all certificates or evidences of certificates received for my account in your
own vaults registered in the name of your nominee. I recognize and acknowledged that some institutions from
whom certificates of deposit are purchased may not issue physical certificates. If such CD's are eligible for
deposit in a central depository, you may utilize any such depository and permit the registration of registered
securities in the name of its nominee.
3. It is understood that certificates of deposit to be serviced by you hereunder may be included in and
represented by a large denomination certificate of deposit(a"Master CD") and that the rate of interest payable to
me on any such certificate of deposit may differ from the stated rate of interest of the Master CD.
4. You are authorized to collect the income from the CD's held from time to time and also to present for
payment and collect the principal from any certificate of deposit which may mature or be called for redemption.
5. Upon collection of interest received in good funds on the property in my account, you shall pay the net
amount due to me by check as herein provided on the fourteenth and twenty-eighth days of each month.
6. You are to hold all principal cash subject to my instructions.
7. You will send me detailed statements of cash receipts and disbursements in my account on a monthly.
basis.
8. You will notify me and FAIC upon receipt of notice to you of any merger, consolidation, reorganization, or
recapitalization which affects the CD's held in my account. Unless you receive contrary written instructions from -
me, you are authorized:
a. To exchange CD's where the exchange is purely
ministerial.
b. As my attorney-in-fact, to execute in my name
whenever you deem it appropriate, such ownership
and other certificates as may be required to obtain
payment with respect to CD's in my account.
c. As my attorney-in-fact to execute in my name—.
and deliver any instrument, certificate or do ment
which you deem appropriate to effec a sale,
transfer, or other disposition of sec s held for my
account and to guarantee a my signature the
signature so affixed.
9. You are authorized to sign and deliver for me and in my name such certificates as may be required in
connection with U.S. federal income tax laws or regulations or other tax laws or regulations now or hereafter in
effect, applicable to any of the CD's held hereunder.
10. You shall (a) be indemnified and held harmless by the undersigned from any loss, liability or expense
incurred without gross negligence or willful misconduct on your part arising out of or in connection with your
entering into this Agreement and carrying out your duties hereunder; (b) be under no duty to give my Account any
greater degree of care than you give to your own similar property, (c) be protected in acting upon any notice,
request, certificate or other paper that you believe to be genuine and that you believe to be signed by the proper
party or parties; (d) be permitted to consultwith independent counsel of yourchoice and shall not be liable forany
action taken, suffered or omitted by you in accordance with the advice of such counsel, provided however, that
nothing in subsections (b),(c) or(d) shall relieve you from liabilityforany losses thatare occasioned byyourgross
negligence or willful misconduct.
11. All collection of funds or other property paid or distributed, or to be paid or distributed, in respect of
CD's in my accountshall be made atthe risk of the undersigned. You shall have no liability forany loss ordamage
occasioned by any delay in the actual receipt of any payment or notice by you of any payment, redemption, or
other transaction regarding CD's in my account in respect of which you are authorized to take some action.
12. 1 shall reimburse you for all taxes, liabilities, loans, overdrafts, or other charges incurred by you in
connection with my account. I authorize you to charge all such taxes, liabilities, loans, overdrafts, or other
charges against the account or against any other account or transaction which I may then have with you.
13. The services hereunder maybe terminated by either of us at anytime upon 30 days written notice to the
other. Notice of termination given by me to you shall be effective upon your receipt thereof.
14. This agreement will be governed by the law of the State of New York, and will.be binding upon my heirs,
distributees, personal representatives and assigns.
1 5. You shall make bi-monthly remittances of the net income collected by you to the undersigned by check
as follows:
Payable to: City of Cupertino
Mail to: 10300 Torre Avenue
Cupertino, CA 95014
Attention: Finance Department
16. 1 n the event that I instruct you to remit maturity proceeds tome by wire transfer, such wire transfers shall
be made as follows:
Bank: Wells Fargo Bank
Bank Address: 10260 DeAnza Blvd.
Cupertino, CA 95014
Account Title: City of Cupertino
ABA# 1210-0024-8
Account Number: 0478-038482
17. Account ownership (Complete the appropriate section):
A. Individual or Joint account
:1
(1) Name (s):
(2) Citizenship:
(3) Residence:
Fiduciary account (enclose copy of governing instrument)
/1) Titlp-
(2) Fiduciary) (ies):
(3) Situs:
C. Institutional account (enclose certified copy of corporate resolution)
(1) Name: City of Cupertino
(2) State or jurisdiction of incorporation:
California
i
(3) Authorized signatories:
Name Treasurer
al- e n er f ,�
Name ✓ �'''Ly ✓Title Deputy Treasurer
Martin Hoffman v
Name
Title
18. Tax Identification or Social Security Number. 94-6027368
19. Address: 10300 Torre Avenue
tino. CA
y
Date:
i
Very truly yours,
CITY OF CUPERTINO /
By
Title: Treasurer /Finance Director
Accepted:
CHEMICAL BANK
by �G6Q
Title:
Date:
Substitute Form W-9 for U.S. persons:
Under penalties of perjury; ('certify that the Taxpayer Identifying Number shown on this form is correct.
Signature:
Substitute Form W-8 Certificate of Exemption- Nonresident Alien (from Withholding on Gross Proceeds):
I (we) qualify for exemption from withholding on gross proceeds for the following reasons: Check appropriate
boxes
❑ 1 . I (we) am (are) neither a citizen or a resident of the United States; and
❑ 2. 1 (we) have not, and do not expect to be, present in the U.S. for a period aggregating 183 or more days
during the calendar year, and
❑ 3. 1 (we) am (are) not engaged in U.S. trade or business; or
❑ 4. 1 (we) am (are) the beneficiary of a U.S. income tax treaty.
Under penalties of perjury, I (we) certify that I (we) am (are) entitled to exemption from withholding.
Signature Date
Signature Date
A
11
7—:
F11ANK M.JORUAN
5LCUL7ARY OF STATE;
;' o .
L
II
SACRAMENTO
Ty FRAM� 1-1. JORDAN, Socretp, of State of th.e.Stato of
Klifornin, bareby cortly":
T'Jiai; on the 10th day Of CcLobaq:1955, purouant to the
1--rovisjons of Scctinn 34327 of the Government Codc, there V
rel.(Aved in thw office and in tho official records
thuccof:
A copy of the Resolutionjassed and adopted by tho
Board of Supervisara of tho County of Eanta Clara on the
)rd day of October, 1955, certified by it Olson, Clerk
of paidjowd, entitled:
]? "OTIUTIOid OF THE DGAIM (.)F OF
("01.11 f'P'( OF S!1H'.r11 SV2111 OF CALIMM2
TflZ, Pli"..",ULT. OF T�'Jdi;CTION' FOR FOR -
OF 111.11 MY OF CUPMUMNO AS A NUNIMPAT,
1) C OF
Cilri-IFkT11-10 'J'0 D'E 1)1.lj.Y AM) j',FTTIIJOil Y INCORI'ORA"),.E11)
AS A CITY, AND FURTHER DEGLARIrd CERTAIN Oar ICERS
FOR SAID CITY TO BE DULY ELECTED.
it
A
I furth:-.r corkiij, ynder authority of Scotian 34328 of
wid'God, that tho Writory AMM in hhn CoOnty-of Panta-:-fi
Qlarn rs deocKM 1P said 14c(1:] ution ueenme duly-incorporatod
this ti,,; a Hunicipal GarForation of the Sixth Clum undar