Section 16010.1.1 - Form 1. (Agreement of Agent of Depository.)The following is an illustration of Form 1:
AGREEMENT OF AGENT OF DEPOSITORY
This agreement is made on _____________________(date) by _____________________(name) (hereinafter referred to as "Bank") with the Administrator of Local Agency Security of the State of California.
RECITALS
A. In this agreement: 1. "Local Agency Deposit Security Regulations" means Chapter 2, Division 4, Title 2 of the California Administrative Code, as effective July 1, 1970, and as the same or any provision thereof may be amended, added, or repealed.2. Terms defined in the Local Agency Deposit Security Regulations shall have the meanings therein set forth.3. Words in the singular number include the plural, and in the plural include the singular.4. Words of the masculine gender include the feminine and the neuter, and when the sense so indicates, words of the neuter gender may refer to any gender.B. Bank is authorized to engage in the trust business in the State of California.C. Bank intends to act as agent of Depository. NOW, THEREFORE, Bank agrees as follows:
1. Bank shall comply in all respects with the provisions of the Local Agency Deposit Security Law and the Local Agency Deposit Security Regulations.2. Without prejudice to or limiting the provisions of the foregoing paragraph, Bank shall:(a) File with the Administrator such reports and other documents as may be required by the Local Agency Deposit Security Law, by the Local Agency Deposit Security Regulations, or by the Administrator pursuant to such Law or Regulation.(b) Accept, hold, pool, place for safekeeping, and release or otherwise dispose of each security which may be placed with it by a depository for the purpose of securing a secured local agency deposit in such manner as may be prescribed by the Local Agency Deposit Security Law, by the Local Agency Deposit Security Regulations, or by the Administrator pursuant to such Law or Regulations.(c) Comply with any instruction or order which may be issued by the Administrator pursuant to the Local Agency Deposit Security Law or the Local Agency Deposit Security Regulations.(d) Permit the Administrator, at such times as the Administrator may deem necessary, to verify securities which Bank holds for the purpose of securing a secured local agency deposit; and exhibit to the Administrator and permit him to inspect and copy such books, records, accounts, securities, and other documents in its custody or under its control which pertain to securities which Bank holds for the purpose of securing a secured local agency deposit.3. No waiver by the Administrator of any failure of Bank to comply with this agreement or any provision thereof shall be deemed a waiver of any failure to comply thereafter occurring. IN WITNESS WHEREOF Bank has caused this agreement to be executed by its duly authorized officers as of the date first above written and filed with the Administrator.
______________________________(name)
By ______________________________(signature)
______________________________(name of signatory)
Its______________________________(title of signatory)
By______________________________(signature)
______________________________(name of signatory)
Its______________________________(title of signatory)
Cal. Code Regs. Tit. 2, § 16010.1.1