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INSURANCE ON FILE UNIk I A-2021-285 UN1ll o�1 6� 17A2-L� OF is DUE FIRST AMENDMENT TO AGREEMENT BETWEEN THE DATE: JAN 0 6 2022 CITY OFSANTA ANA AND JPMORGAN CHASE BANK, N.A. THIS FIRST AMENDMENT TO AGREEMENT is entered into this 21st day of December 2021, by and between the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City"),and JPMorgan Chase Bank, N.A. ("Banking Services Provider"). RECITALS: A. On December 6, 2016, the City entered into Agreement No. A-2016-366 ("Agreement") with JPMorgan Chase Bank, N.A. in which Banking Services Provider, having special skill and knowledge in the field of banking services, banking technology, and related ancillary services to include but not limited to: daily deposit processing, image cash letter (ICL) deposits, check clearing, wire services, automated clearing house (ACH) transactions, positive pay services, account reconciliation, direct deposit of accounts payables, account analysis services, lockbox services, client staff training, the latter, to the extent reasonably required for City to utilize the services provided. B. In a letter dated November 1, 2021 (Exhibit G), JPMorgan Chase, N.A. memorialized their services with the City under the Agreement for the previous five (5) years. C. The parties desire to amend the Compensation, Term, Insurance, and Miscellaneous clauses of said Agreement. THE PARTIES THEREFORE AGREE: Section 2, COMPENSATION, shall be amended to read as follows: a. Amount of Banking Fees. Upon execution of this Agreement, City will pay Banking Services Provider as outlined in Exhibit H, as applicable to the services selected. Payment need not to be made for work, which fails to meet the standards of performance set for in the Recitals, which may reasonably be expected by City. The parties recognize and agree that earnings credit for City's funds on deposit with Banking Services Provider will be applied against fees otherwise payable by City and if the fees during any month exceed the earnings credit for City's balances during that month, insufficiency will be carried over each succeeding month until such insufficiency plus subsequently incurred fees are paid in full, subject to settlement each six (6) months or monthly at the sole discretion of the City. (1) Banking Services Provider will provide to City an account analysis statement each month, depicting fees incurred and earnings credits earned for that month, and following each six (6) month period, will prepare an invoice for fees incurred for the preceding six (6) month period, and the Page 1 of 6