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S.✓ <br />6'- 2jfZ <br />AGREEMENT FOR BANKING SERVICES <br />THIS AGREEMENT dated the 1 of /%� 1T C � � _ _, 1986, <br />is between the CITY OF NEWPORT BEACH, hereinafter "City," located <br />at 3300 Newport Boulevard, Newport Beach, California, and CITY <br />NATIONAL BANK, hereinafter "Bank," located at 3388 Via Lido, <br />Newport Beach, California is made with respect to the following <br />facts, the materiality of which is hereby agreed to between the <br />parties: <br />RECITALS <br />A. Bank, pursuant to a re.quest therefor by City, has <br />submitted a proposal to provide certain banking services. <br />B. City wishes to accept Bank's proposal to provide <br />services for an estimated average monthly cost of $1,432.50 with <br />demand deposit and money market accounts earning credit utilized <br />to reduce the estimated monthly cost on a semi - annual basis. <br />AGREEMENTS <br />1. Term: This Agreement shall be for a term <br />of three (3) years, commencing on the 1st day of April, 1986, and <br />-1- <br />