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provided in paragraph (6) hereof. <br /> j) Release all pledged securities to the BANK upon the termination of the <br /> Agreement as provided herein. <br /> 4. The BANK may substitute securities of which it is the legal and actual <br /> owner, free and clear of all liens and claims, for all or any part of the pledged <br /> securities so long as such substitutes securities are one or more of the following types: <br /> a) Negotiable obligations of the United States Government; or <br /> b) Negotiable obligations of any agency or instrumentality of the United States <br /> Government guaranteed by the full faith and credit of the United States Government; <br /> or <br /> c) Negotiable obligations of the State of Illinois; or of any county, City, town, <br /> or municipal corporation of this state or any other political subdivision of this state <br /> which are rated "A" or better by Moody's or Standard and Poor's. <br /> d) Negotiable obligatiot�s of any State of the United States, or any municipal or <br /> other political subdivision thereof which are rated "AA" or better by Moody's or <br /> Standard and Poor's rating thereof. <br /> e) Any other negotiable obligation approved in writing by Treasurer of the � <br /> CITY prior to substitution. Provided, however, that the principal of any such <br /> negotiable obligation which is deposited pursuant to this Agreement shall not be <br /> amortized during the life of the security. <br /> Not less than two (2) days prior to delivery by the BANK to the <br /> DEPOSITORY of securities described in (a) through (e) above to be substituted for <br /> pledged securities, the BANK shall give written notice of the substitution to the CITY. <br /> Such notice shall contain a complete description of the securities, the total dollar <br /> amount as of the day of the notice, and the Moody's or Standard and Poor's rating <br /> thereof, if any. Within ten (10) days, excluding Saturdays, Sundays and holidays, after <br /> receipt of said notice, the CITY may object to the substitution, and may, in its sole <br /> discretion, require that the substitution be rescinded. In such event, the BANK agrees <br /> to withdraw the securities so substituted and to substitute for the same other securities <br /> described in paragraph (a) through (e) above acceptable to the CITY. <br /> 5. At all times during this Agreement is in effect, the dollar amount of the <br /> pledged securities shall equal or exceed the minimum level of collateral security. <br /> Should the dollar amount of the pledged securities at any time not exceed the <br /> minimum level of collateral security, the BANK shall cure such deficiency within two <br /> (2) days after knowledge thereof by delivering to the DEPOSITORY additional <br /> pledged securities in the dollar amount of not less than any such deficiency. Not <br /> withstanding any provisions within the Agreement to the contrary, the DEPOSITORY <br /> is to have no responsibility for determining the dollar amount of pledged securities, or <br /> substitutions tlierefor, or for insuring that the dollar amount of such securities held by <br /> 3 <br />