Either party may terminate this Agreement by providing written notice to the other party that is received by the other party at least 90 days prior to the termination. Any breach of this Agreement by the Bank will allow the Treasurer to immediately terminate this Agreement without penalty and have any other relief available under law. Failure by the Treasurer to declare a breach does not waive the rights of the Treasurer. There must not be any modifications or deviations from the General Description, Specifications, or the Response, except as expressly approved by the Treasurer in writing.
Modification means any change to an existing service or the addition of a new service.
The Treasurer may elect to authorize the Bank to invest collected funds. The Treasurer and the Bank must agree in writing prior to any investment of collected funds on the type and amount to be invested, and the amount and type of collateral eligible for acceptance by the Treasurer. The market value of such securities or instruments must at all times exceed the balance of collected funds. The collateral will be placed for safekeeping under the control and in the name of the Treasurer with a third party custodian designated by the Treasurer. End of the day collected balances may earn credits against which service charges may be assessed, be invested in a repurchase agreement with the Bank, or be invested in a short term investment fund offered by the Bank and comprising instruments permitted under state law.