HomeMy WebLinkAboutExhibitAMENDMENT NO.2 TO PROFESSIONAL SERVICES AGREEMENT
BETWEEN THE CITY OF MIAMI AND WACHOVIA BANK, N.A.
This Amendment No.2 to the Professional Services Agreement is entered into this
day of , 2007 (the "Amendment") by and between the City of Miami, a
municipal corporation of the State of Florida (the "City"), and Wachovia Bank N.A., for the
purpose of amending the Professional Services Agreement dated November 30, 2001, as
amended and heretofore assigned (the "Agreement").
RECITALS:
WHEREAS, on October 25, 2001, the City Commission by Resolution #01-1140
authorized the City Manager to enter into a professional services agreement with First Union
Bank of Florida for Banking Services -City-wide; and
WHEREAS, on September 23, 2004, the City Commission adopted Resolution No.
R-04-0626, authorizing the assignment of the professional services agreement from First
Union Bank of Florida to Wachovia Corporation; and
WHEREAS, said agreement is scheduled to expire on November 30, 2007; and
WHEREAS, the City of Miami, ("City") is currently developing the RFP for banking
services; and
WHEREAS, the City Commission had determined it to be in the best interest of the
City to extend the agreement with Wachovia Bank N.A while it develops the RFP and allows
time to test electronic file formats; and
NOW, THEREFORE, in consideration of mutual covenants hereinafter set forth and
in consideration of the other valuable consideration the parties covenant and agree as
follows:
] . Incorporation of Recitals: Definitions: The recitals and findings set forth above
are hereby adopted by reference thereto and incorporated herein as if fully set forth in this
Amendment. All of the initial capitalized terms used in this Amendment shall, unless
otherwise provided herein, have the same definitions and meaning as given to them in the
Agreement.
2. Amendment Effective Date: The effective date of this Amendment shall be the
date upon which it is executed by the City Manager and Wachovia Bank N.A. with the
later of such execution dates being the controlling effective date (the "Amendment
Effective Date"). Wachovia Bank N.A. shall execute this Amendment no later than ten
(10) days following City Commission approval of this Amendment.
3. Amendment to Section Y: A new paragraph is hereby added to Section I to read as
follows:
The City and Wachovia Bank N.A, by mutual agreement, hereby agree to
extend the Terms of the Agreement on a month to month basis, under the same
terms, conditions, and prices of the current agreement, until issuance of a new
Request for Proposals, award of the Request for Proposals to the successful
proposer, exeection of attagreement, and system interfaces are completed.
4. General Provisions: This Amendment shall be construed and governed in
accordance with the laws of the State of Florida. This Amendment may be executed in any
number of counterparts and by the separate parties hereto in separate counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the same
instrument. To the extent that any terms or provisions of this Amendment are inconsistent or
conflict with the terms and conditions of the Agreement, the terms and conditions of this
Amendment shall control. Except as specifically provided herein, all of the terms and
provisions of the Agreement shall remain in effect.
Attest:
Print Name:
Corporate Secretary
Wachovia Bank, N.A
By:
Signature
Print Name:
Title:
Attest City of Miami, a Municipal Corporation
Of the State of Florida
By:
Priscilla A. Thompson
City Clerk
By:
Pedro G. Hernandez
City Manager
Approved As to form And Approved as to Insurance
Correctness Requirements:
By:
Jorge L. Fernandez
City Attorney
By:
LeeAnn Brehm
Director of Risk Management