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I }_ <br /> Account Number VO— <br /> , <br /> VINING-SPARKS IBG, LIMITED PARTNERSHIP <br /> CUSTODIAN AGREEMENT <br /> AGREEMENT dated as of March 15, 2016 ,between VINING-SPARKS IBG,LIMITED <br /> PARTNERSHIP("Custodian")and City of Rancho Palos Verdes <br /> ("Customer"). <br /> 1. Employment of Custodian Customer hereby employs Custodian as custodian of all assets of <br /> Customer which are delivered to and accepted by Custodian(the "Property") pursuant to the terms and conditions set <br /> forth herein. Without limitation, such Property shall include stocks and other equity interests of every type, evidences <br /> of indebtedness, other instruments representing same or rights or obligations to receive, purchase, deliver or sell same <br /> and other non-cash investment property of Customer that is acceptable for deposit ("Securities") and cash from <br /> whatever source and in whatever currency("Cash"). Custodian shall not be responsible for any property of Customer- <br /> -'held or received by Customer or others and not delivered to and accepted by Custodian or any of its Sub-custodians <br /> (as that term is defined in Section 4 below)as hereinafter provided. <br /> 2. Account Custodian agrees to establish and maintain one or more Accounts on its books in the name <br /> of Customer (collectively, the "Account") for any and all Property consisting of Securities from time to time received <br /> and accepted by Custodian or any of its Sub-custodians for the account of Customer. Any and all Property consisting of <br /> Cash from time to time received and accepted by Custodian or any of its Sub-custodians for the account of Customer <br /> shall be credited to the Account on the books of Custodian. Custodian shall have the right, in its sole discretion, to <br /> refuse to accept any Property that is not in proper form for deposit for any reason. Customer acknowledges its <br /> responsibility as a principal for all of its obligations to Custodian arising under or in connection with this Agreement, <br /> notwithstanding that it may be acting on behalf of other persons, and warrants its authority to deposit in the Accounts <br /> any Property received therefor by Custodian or its Sub-custodian and to give, and authorize others to give, instructions <br /> relative thereto pursuant to the terms of this Agreement. Customer further agrees that Custodian shall not be subject to, <br /> nor shall its rights and obligations under this Agreement or with respect to the Accounts,be affected by, any agreement <br /> between Customer and any other person. <br /> Custodian shall hold, keep safe and protect as custodian for the Account,on behalf of Customer, all Property <br /> in the Accounts. All transactions involving the Property shall be executed or settled solely in accordance with <br /> Instructions (as that term is defined in Section 8), except that until Custodian receives Instructions to the contrary, <br /> Custodian will(subject to the provisions of the next paragraph relating to Securities issued outside of the United States <br /> and collections of income in a currency other than United States dollars): <br /> (a) collect all interest and dividends and all other income and payments, whether paid in cash or <br /> in kind,on the Property,as the same become payable and credit the same to the Account; <br /> (b) present for payment all Securities held in the Account which are called,redeemed or retired or <br /> otherwise become payable and all coupons and other income items which call for payment <br /> upon presentation to the extent that Custodian is actually aware of such opportunities and <br /> credit the cash received to the Account; <br /> (c) (i) exchange Securities where the exchange is purely ministerial (including, without <br /> limitation,the exchange of temporary securities for those in definitive form and the exchange <br /> of warrants, or other documents of entitlement to securities, for the Securities themselves); <br /> and (ii) when notification of a tender or exchange offer (other than ministerial exchanges <br /> described in(i)above)is received for the Account,endeavor to receive Instructions,provided <br /> Page 1 of 14 <br />