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HomeMy WebLinkAboutBridgehampton National Bank JOHN CUSHMAN Ca a SCOTT L. HARRIS Department Head • Supervisor ACCOUNTING & FINANCE DEPARTMENT �jG� o� SOUTHOLD TOWN HALL Telephone (516) 765 -4333 �,( .�� P.O. BOX 1179, 53095 MAIN ROAD Fax (516) 765-1823 SOUTHOLD, NEW YORK 11971 OFFICE OF THE SUPERVISOR TOWN OF SOUTHOLD June" 28, 1990 The Bridgehampton National Bank P.O. Box E Bridgehampton, NY 11932 Attention: Diane Reutershan Dear 'Debbie: As we discussed, enclosed herewith you will find the executed documentation. for a Chemical Bank Custodian Account. In the event that you require any further information, please contact the undersigned. Very truly yours, John Cushman Bookkeeper t C �J 11 FA- Pox IE L CN. _ 1 332 DIANE REUTERSHAN VICE PRESIDENT & COMPTROLLER 516 537-1000 D C HOU June 22 , 1 9 9 0 JUN 2 5 1R - r . TOV OFS0T (!6' ACCOUNTING& FNARE ''r_-T ` John Cushman, Bookkeeper Town of Southold 53095 Main Road Southold, New York 11971 Dear John: Many thanks for having lunch with Chris and me. It was nice to be able to discuss the pledging and bidding procedures directly with you. I have enclosed three Chemical Bank Custodian Account Agreement forms which must be completed and mailed directly to Chemical Bank, Securities and Trust Services, Securities Safekeeping Administration, Room 300-3rd Floor, 55 Water Street, New York, New York 10041 , Attn: Mike Kurzyna. The completed forms must be accompanied by a letter of authorization, on your letterhead, for those authorized to release the securities. Please note that the letter cannot be signed by anyone who is authorized to release securities . Should you have any questions , please call Mike Kurzyna, Assistant Vice President, Chemical Bank at 212-820-5539 . Also, I have taken the liberty to have Bernie Dempsey of our Southold Branch hand deliver the account signature cards and resolutions you requested. We look forward to and value the new account relationship. Sincerely, Diane Reuters an Vice Presiden and Comptroller DR/ji cm JOHN CUSHMAN y Z SCOTT L. HARRIS Department Head ® Supervisor ACCOUNTING & FINANCE DEPARTMENTy� O� SOUTHOLD TOWN HALL Telephone (516) 765 -4333 �,� .�� P.O. BOX 1179, 53095 MAIN ROAD Fax (516) 765-1823 SOUTHOLD, NEW YORK 11971 OFFICE OF THE SUPERVISOR TOWN OF SOUTHOLD June 26, 1990 Chemical Bank Securities and Trust Services Securities Safekeeping Administration Room 300-3rd Floor 55 Water Street New York, NY 10041 Attention: Mike Kurzyna Dear Mr. Kurzyna: Enclosed herewith please find three Chemical Bank Custodian Account Agreement forms. Be advised that only the Supervisor and the Deputy Supervisor are authorized to release securities on behalf of the Town of Southold. Below a specimen signatures for your information: Scott ' uis arris,' Superor G oe L. Penny IV, Depu y Supervisor Should you require any further information, please contact our Accounting and Finance Department at (516) 765-4333. Very truly yours, Judith T. Terry Town Clerk C14MICALBAw 'Institutional Custodian Custody Services Account Agreement Account Number BNB for Benefit of Town of Southold Account Name Custodian Account } Dear Sirs: Withdrawals, Purchases and Sales Withdrawals of property from the custodian account, You are requested to open a custodian account in the purchases and sales of property and delivery or receipt of name of the undersigned property for the account against payment shall be made only upon the instructions of the undersigned as provided Bridgehampton National Bank for Benefit of under"General Instructions"With respect to any direc- tions to receive securities,you shall have no duty or Town of Sorrthol d responsibility to advise the undersigned of non-receipt of, or to take any steps to obtain delivery of,securities from and to hold or dispose of any property from whomsoever brokers or others either against payment or free of received by you for such account,subject at all times to payment. the instructions of the undersigned.You are authorized to deposit,withdraw,hold and settle obligations of the Registration of Securities Government of the United States, or agencies or instru- All securities in form necessitating registration are to mentalities thereof,in the Federal Reserve Bank Book- be registered in the name of your nominee. Entry System,and to deposit,withdraw,hold and settle securities in the Depository Trust Company of New York, and Participant Trust Company,New York.All securities Interest and dividends on property in the custodian held in these Depositories are subject to the same condi- account are to be collected by you so far as the undersigned tions and responsibilities of all other securities covered by shall make such collection possible. In this connection you this agreement.The following conditions are to remain in are.authorized and directed to execute as our Agent all full force and effect until expressly amended or revoked in necessary certificates of ownership.Such interest and writing by the undersigned. dividends and any other moneys arising out of property in the custodian account shall be credited as provided General Instructions in sub-paragraph A. You are directed to follow and rely upon written and oral instructions received from persons authorized in A. Interest and Dividends resolutions of our governing board certified to you from All interest and dividends shall be credited to the income time to time. Such oral instructions shall be confirmed division of the custodian account of the undersigned,from in writing but the lack of such confirmation shall in no which remittances are to be made as follows: way affect any action taken by you in reliance upon ❑Semi-Annually such oral instructions.You may also accept instructions 0 Quarterly sent via ChemLink's Safekeeping Access System(CSAS) ❑Monthly and shall be under no duty to verify the authenticity of L%By credit to the checking account of BNB same. #314005765 Organized under the laws of: State of New York ❑By check to the order of ❑By transfer to the principal division of the custodian The Tax Identification number is 11-2934194 account of the undersigned. Engaged in business in the United States: B. Other Moneys K Yes Other moneys collected on the custodian property or other- El No wise received by you are to be credited to the principal division of the custodian account. Exchanges or any action to be taken by you hereunder,you may seek You shall make any exchange of securities which,in your the advice of counsel and shall incur no liability for any- opinion,may be considered to be of a routine nature. thing done or omitted to be done in good faith in accor- dance with the advice or opinion of such counsel.You may Fractional Interest rely conclusively upon and shall be protected in acting Regarding any fractional interest resulting from a stock upon any notice, request, consent, instruction or other dividend or split,you are hereby authorized: instrument believed by you in good faith to be genuine ❑To purchase an additional fractional interest sufficient or to be signed by the proper person or duly authorized or to constitute one full share. properly made.The undersigned hereby agrees that nei- ❑To sell such fractional interest. ther you nor your nominee shall have any responsibility beyond the exercise of ordinary care for any action taken Foreign Securities or omitted by you pursuant to this Agreement or shall be While it is expected that you will use your best efforts to liable in any manner whatsoever for any disposition what- collect any moneys which may to your knowledge become soever of any funds,securities and/or other property in collectible arising from securities of foreign issue includ- such custodian account which is made in accordance ing dividends,interest and other income,and to notify the with the instructions contained herein. undersigned of any call for redemption,offer of exchange, right of redemption, right of subscription,reorganization Expenses and Liabilities or other proceedings affecting such securities,it is under- The undersigned hereby agrees to be responsible for all stood that you shall be under no responsibility for any fail- fees and expenses and to indemnify and hold harmless ure or delay in effecting such collections or giving such you and your nominee from all taxes, expenses(including notices,whether or not the relevant information is pub- counsel fees),assessments,liabilities, claims,damages, lished in any financial service available to you.All foreign actions,suits or other charges incurred by or assessed currency collected in respect of such securities is,to the against you or your nominee in connection with this extent possible,to be converted into United States dollars, account.You are hereby authorized to charge any account and in effecting such conversion you may use such meth- of the undersigned with you for all such items and you are ods or agencies as you may deem appropriate, including the hereby given a lien for all such items upon this account facilities of your own International Division at customary and upon any and all funds,deposit accounts and other rates.All risks and expenses incident to such collection and property of the undersigned in your possession or under conversion shall be assumed by the undersigned,and you your control for any purpose(including safekeeping or shall have no responsibility for fluctuation in pledge for any liability of any of the undersigned). exchange rates affecting any such conversion. Termination You are authorized to charge,for your services custodian You shall have the right to terminate your duties fees based on your standard published custodian fee hereunder at any time by giving written notice to the schedule in effect from time to time. undersigned. Records Retention by you of any records connected with this account is understood to be optional with you and solely for your convenience or benefit. Responsibility You shall not be bound by any notice of, or demand with respect to,any waiver, modification,amendment,cancel- lation,rescission or supersession of the terms and condi- tions herein stated,unless received by you in writing and signed by the undersigned.In the event of any controversy or dispute hereunder,or with respect to any question as to the construction of the terms and conditions herein stated CkMICALBAW Securities and Trust Services Securities Safekeeping Administration 55 Water Street New York, NY 10041 Address for all communications: Diane Reutershan, VP & Comptroller Bridgehampton National Rank Name P.O. Box E Street Special Instructions: Bridgehampton, New York 11932 City,State,Zip No securities or cash may be released from this account without written approval from the Town of Southold. Tax Certification(Check One) '❑ Non-Resident Alien M "Under penalties of perjury, I certify that the number shown on this form is the corporation's correct taxpayer identification number and that the corporation is not subject to backup withholding as a notified payee a underreporting". VP & Comptroller 6/22/90 Authorized Signature Title Date 1., The undersigned is not required to be registered under the United States Investment Company Act of 1940. Yours very truly, 6/22/90 Signature Date Vice President & Comptroller Title Title Accepted and agreed to by Chemical Bank Authorized Officer, Name Date Disclosure Authorization In connection with Chemical Bank's obligation under SEC Rule 14b-2(17C.F.R.V40.14b-2), Chemical Bank is requesting that you designate whetheryour name(s),address(es)and share positions)should be disclosed pursuant to a request by a company whose shares you own.Please designate in the appropriate space below how Chemical Bank should respond to such requests. (Please note that for accounts opened prior to December28,1986, Chemical Bank is not permitted to disclose such information unless expressly authorized by you.For accounts opened on December28,1986 and thereafter, Chemical Bank is legally obligated to disclose such information unless expressly forbidden by you) In any situation where Chemical Bank is requested by a company,pursuant to SEC Rule 14b-2(17 C.F.R.9240.14b-2),to disclose your name(s), address(es),and share position(s)in such company, Chemical Bank is hereby authorized as follows: No X no such disclosure can be made Yes such disclosure is authorized A0179 CREATIVE SERVICES