Addendum to Contract - 1st Source Bank - 2019 Banking Services Renewal

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March 8, 2019 Mr. Daniel Parker, City Controller City of South Bend 227 W. Jefferson Blvd. South Bend, IN 46601 Dear Mr. Parker: it'llsource.,, P.O. Box 1602 South Bend, Indiana 46634 1st Source Bank is pleased to present the following as an addendum to the current contract for continued banking services for the period April 1, 2019 through March 31, 2021. Interest Rate: Fed Funds Effective Rate' +24 basis points +25 basis points Account Fees: We are proposing the following updates to the Business Banking Online fee structure: o The first 1,500 items free for the'per detail transaction charge' will decrease to 1,000. (This change is being implemented because of a new bank -wide fee structure that is being put In place which coincides with our new Treasury Services system.) This is estimated to affect your account with an approximate $20 per month increase. To offset this change, we are lowering the following 2 items so that you will not be negatively impacted: ■ Monthly Reporting Per Account (2 free): 2 free now 4 free. Monthly Reporting Per Account (2 free): $5.00 down to $3.00. Lastly, the Bank is not required to pledge collateral to the Public Deposit Insurance Fund. If the Bank is required by the Public Deposit Insurance Fund to post collateral or obtain a Letter of Credit from the Federal Home Loan Bank of Indianapolis and the City elects to maintain balances above the FDIC insurance, the Bank retains the option to request that the excess funds above the FDIC insurance be removed from the Bank. The lock box services contract will be under a separate agreement. This agreement may be terminated without just cause by either party with 90 days prior written notice. Sincerely, Brett A. Bauer Senior Vice President Chief Investment Officer Funds Management Dlvision 1 As published in the Federal Reserve H.15 report . P N. .. Beard (A Puwk works