HomeMy WebLinkAbout26-0871ORDINANCE NO. 26-0871
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE MUNICIPAL CORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE A CONTRACT WITH HILLTOP SECURITIES ASSET MANAGEMENT, LLC, FOR INVESTMENT ADVISORY SERVICES FOR THE CITY THROUGH THE FINANCE DEPARTMENT; PROVIDING FOR THE EXPENDITURE OF FUNDS THEREFOR; AND PROVIDING AN EFFECTIVE DATE (RFP 9020-A WARDED TO HILL TOP SECURITIES ASSET MANAGEMENT, LLC, FOR TWO (2) YEARS, WITH THE OPTION FOR ONE (1) ADDITIONAL TWO (2) YEAR EXTENSION, IN THE TOTAL FOUR (4) YEAR NOT-TO-EXCEED AMOUNT OF $300,000.00).
WHEREAS, the City has solicited, received, and evaluated competitive proposals for
investment advisory services for the City through the Finance Department; and
WHEREAS, the City Manager, or a designated employee, has received, reviewed, and recommended that the herein described proposals are the most advantageous to the City considering the relative importance of price and the other evaluation factors included in the request for proposals; and
WHEREAS, this procurement was undertaken as part of the City's governmental function; and
WHEREAS, the City Council has provided in the City Budget for the appropriation offunds to be used for the purchase of the materials, equipment, supplies, or services approved and accepted
herein; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The items in the following numbered request for proposal for materials, equipment, supplies, or services shown in the ''Request Proposals" on file in the office of the
Purchasing Agent, are hereby accepted and approved as being the most advantageous to the City considering the relative importance of price and the other evaluation factors included in the request for proposals.
RFP NUMBER
9020
CONTRACTOR
Hilltop Securities Asset Management, LLC
AMOUNT
$300,000.00
SECTION 2. That by the acceptance and approval of the above numbered items of the submitted proposals, the City accepts the offer of the persons submitting the proposals for such items and agrees to purchase the materials, equipment, supplies, or services in accordance with the terms, specifications, standards, quantities, and for the specified sums contained in the Proposal Invitations, Proposals, and related documents.
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PROFESSIONAL SERVICES AGREEMENT
FOR CONSULTING SERVICES
FILE 9020
STATE OF TEXAS §
COUNTY OF DENTON §
________________________, by and between the City of Denton, Texas, a Texas municipal
corporation, with its principal office at 215 East McKinney Street, Denton, Denton County,
d Hilltop Securities Asset Management, LLC, with
its corporate office at 717 N. Harwood St. Ste 3400 Dallas, TX 75201, hereinafter called
WITNESSETH, that in consideration of the covenants and agreements herein contained,
the parties hereto do mutually agree as follows:
ARTICLE I
CONSULTANT AS INDEPENDENT CONTRACTOR
The OWNER has selected CONSULTANT on the basis of demonstrated competence and
qualifications to perform the services herein described for a fair and reasonable price pursuant to
Chapter 2254 of the Texas Government Code. The OWNER hereby contracts with the
CONSULTANT as an independent contractor and not as an employee, and as such, the OWNER
will not assert control over the day-to-day operations of the CONSULTANT. The
CONSULTANT is customarily engaged to provide services as described herein independently
and on a nonexclusive basis in the course of its business. This Agreement does not in any way
constitute a joint venture between OWNER and CONSULTANT. The CONSULTANT hereby
agrees to perform the services described herein based on the skills required for the scope of work
in connection with the Project as stated in the sections to follow, with diligence and in
accordance with the highest professional standards customarily obtained for such services in the
State of Texas. The professional services set out herein are in connection with the following
described project:
The Project shall include, without limitation, Investment Advisory Services, as described
in Exhibit A, which is on file at the purchasing office and incorporated herein (the
ARTICLE II
SCOPE OF BASIC SERVICES
The CONSULTANT shall perform the following services in a professional manner:
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
A. The CONSULTANT shall perform all those services as necessary and as described in the
RFP 9020 Investment Advisory Services, which is on file at the purchasing
office and made a part hereof as Exhibit A as if written word for word herein.
B.
attached hereto and made a part hereof as Exhibit B as if written word for word herein.
C. CONSULTANT shall perform all those services set forth in individual task orders, as
described in Exhibit B, which shall be attached to this Agreement and made a part
hereof.
D. If there is any conflict between the terms of this Agreement and the exhibits attached to
this Agreement, the terms and conditions of this Agreement will control over the terms
and conditions of the attached exhibits or task orders.
ARTICLE III
ADDITIONAL SERVICES
Additional services to be performed by the CONSULTANT, if authorized by the
OWNER, which are not included in the above-described Basic Services, may be negotiated as
needed, per rates included in Exhibit C.
A. Assisting OWNER in the defense or prosecution of litigation in connection with or in
addition to those services contemplated by this AGREEMENT. Such services, if any, shall
be furnished by CONSULTANT on a fee basis negotiated by the respective parties outside
of and in addition to this AGREEMENT.
B. Visits to the site in excess of the number of trips included in Exhibit B.
C. Preparing statements for invoicing or other documentation for billing other than for the
standard invoice for services attached to this professional services agreement.
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
ARTICLE IV
TIME OF COMPLETION
CONSULTANT is authorized to commence work under this contract upon execution of this
AGREEMENT. CONSULTANT shall perform and complete its obligations herein in a prompt
and continuous manner, so as to not delay the completion of the Project in accordance with the
schedules as described in Exhibit B. The contract shall remain effective for a two (2) year
period with the option to renew for an additional two (2) year period upon council approval. At
the sole option of the City of Denton, the Contract may be further extended as needed, not to
exceed a total of six (6) months.
Scope of Investment Decisions.
In performing the services listed in Section II. A above, the CONSULTANT shall not have
discretionary authority and, accordingly, shall obtain approval from the OWNER for the
purchase or sale of securities prior to execution. The OWNER hereby represents and
acknowledges that its written investment policy and investment strategy includes its investment
objectives and all portfolio limitations and restrictions, including, without limitation, acceptable
levels of investment risk. The OWNER also agrees to notify the CONSULTANT in writing ten
investment objectives, investment limitations, and/or financial condition.
Return on the Portfolio.
The OWNER expressly affirms and acknowledges that the CONSULTANT not promised or
portfolio. The CONSULTANT may rely upon all information regarding cashflow schedules or
other information pertaining to the Portfolio as provided by the OWNER as being true and
accurate. The OWNER recognizes that there may be loss or depreciation of the current
liquidation, immediate and ongoing value of any investment due to the fluctuation of market
values. The OWNER represents that no party to this Agreement has made any guarantee, either
shall not be liable for any error in judgment and/or for any investment losses in the Portfolio in
the absence of willful malfeasance, gross negligence, or violation of applicable law.
Nothing in this Agreement shall constitute a waiver or limitation of any rights that the OWNER
may have under applicable state or federal law including without limitation, the state and federal
securities laws.
ARTICLE V
COMPENSATION
A. COMPENSATION TERMS:
1.
employment of others in outside firms for services related to this agreement.
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
2. -
incurred by the CONSULTANT for supplies, transportation and equipment,
travel, communications, subsistence, and lodging away from home, and similar
incidental expenses in connection with that assignment.
B. BILLING AND PAYMENT: For and in consideration of the professional services to be
performed by the CONSULTANT herein, the OWNER agrees to pay, based on the cost
estimate detail at rate shown in Exhibit C which is attached hereto and made a part of
this Agreement as if written word for word herein, a total fee, including reimbursement
for direct non-labor expenses not to exceed $300,000.
Partial payments to the CONSULTANT will be made on the basis of detailed monthly
statements rendered to and approved by the OWNER through its City Manager or his
designee; however, under no circumstances shall any monthly statement for services
exceed the value of the work performed at the time a statement is rendered.
Nothing contained in this Article shall require the OWNER to pay for any work which is
unsatisfactory, as reasonably determined by the City Manager or his designee, or which is
not submitted in compliance with the terms of this Agreement. The OWNER shall not be
required to make any payments to the CONSULTANT when the CONSULTANT is in
default under this Agreement.
It is specifically understood and agreed that the CONSULTANT shall not be authorized
to undertake any work pursuant to this Agreement which would require additional
payments by the OWNER for any charge, expense, or reimbursement above the
maximum not to exceed fee as stated, without first having obtained written authorization
from the OWNER. The CONSULTANT shall not proceed to perform the services listed
the OWNER.
C. ADDITIONAL SERVICES: For additional services authorized in writing by the
OWNER in Article III, the CONSULTANT shall be paid based on the Schedule of
Charges at rate shown in Exhibit C. Payments for additional services shall be due and
payable upon submission by the CONSULTANT and approval by the City staff, and shall
be in accordance with subsection B hereof. Statements shall not be submitted more
frequently than monthly.
D. PAYMENT: If the OWNER fails to make payments due the CONSULTANT for
undisputed statement thereof, the amounts due the CONSULTANT will be paid interest
in accordance with the Texas Government Code 2251.025. Additionally, the
suspend services under this Agreement until the CONSULTANT has been paid in full all
amounts due for services, expenses, and charges. Nothing herein shall require the
OWNER to pay the late charge if the OWNER reasonably determines that the work is
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
dispute concerning the amount due, or the invoice was not mailed to the address or in the
form as described in this Agreement. The OWNER will notify CONSULTANT of any
disputes within twenty-one (21) days of receipt of the invoice.
E. Invoices shall be sent directly to the City of Denton Accounts Payable Department, 215
E McKinney St, Denton, TX, 76201-4299. A pro-forma invoice shall be sent to the
contract administrator. It is the intention of the City of Denton to make payment on
completed orders within thirty days after receipt of invoice or items; whichever is later,
unless unusual circumstances arise. Invoices must be fully documented as to labor,
materials, and equipment provided, if applicable, and must reference the City of
Denton Purchase Order Number in order to be processed. No payments shall be
made on invoices not listing a Purchase Order Number.
ARTICLE VI
OBSERVATION AND REVIEW OF THE WORK
The CONSULTANT will exercise reasonable care and due diligence in discovering and
promptly reporting to the OWNER any defects or deficiencies in the work of the
CONSULTANT or any subcontractors or subconsultants.
ARTICLE VII
OWNERSHIP OF DOCUMENTS
subcontractors or subconsultants) pursuant to this Agreement are instruments of service, and
shall become the property of the OWNER upon the termination of this Agreement. The
CONSULTANT is entitled to retain copies of all such documents. The documents prepared and
furnished by the CONSULTANT are intended only to be applicable to this Project, and
In the event the OWNER uses any of the information or materials developed pursuant to this
Agreement in another project or for other purposes than specified herein, CONSULTANT is
released from any and all liability relating to their use in that project.
ARTICLE VIII
INDEMNITY AGREEMENT
THE CONSULTANT SHALL INDEMNIFY AND SAVE AND HOLD HARMLESS
THE OWNER AND ITS OFFICERS, OFFICIALS, AGENTS, AND EMPLOYEES FROM
AND AGAINST ANY AND ALL LIABILITY, CLAIMS, DEMANDS, DAMAGES,
LOSSES, AND EXPENSES, INCLUDING, BUT NOT LIMITED TO COURT COSTS
AND REASONABLE ATTORNEY FEES ASSERTED AGAINST OR INCURRED BY
THE OWNER, AND INCLUDING, WITHOUT LIMITATION, DAMAGES FOR
BODILY AND PERSONAL INJURY, DEATH AND PROPERTY DAMAGE,
RESULTING FROM THE NEGLIGENT ACTS OR OMISSIONS OF THE
CONSULTANT OR ITS OFFICERS, SHAREHOLDERS, AGENTS, OR EMPLOYEES
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
INCIDENTAL TO, RELATED TO, AND IN THE EXECUTION, OPERATION, OR
PERFORMANCE OF THIS AGREEMENT.
Nothing in this Agreement shall be construed to create a liability to any person who is not
law or equity, to any claim, cause of action, or litigation filed by anyone not a party to this
Agreement, including the defense of governmental immunity, which defenses are hereby
expressly reserved.
ARTICLE IX
INSURANCE
During the performance of the services under this Agreement, CONSULTANT shall
maintain insurance in compliance with the requirements of Exhibit D which is attached hereto
and made a part of this Agreement as if written word for word herein.
ARTICLE X
ALTERNATIVE DISPUTE RESOLUTION
The parties may agree to settle any disputes under this Agreement by submitting the
dispute to mediation with each party bearing its own costs of mediation. No mediation arising
precedent to suit.
ARTICLE XI
TERMINATION OF AGREEMENT
A. Notwithstanding any other provision of this Agreement, either party may terminate by
B. This Agreement may be terminated in whole or in part in the event of either party
substantially failing to fulfill its obligations under this Agreement. No such termination
will be affected unless the other party is given (1) written notice (delivered by certified
mail, return receipt requested) of intent to terminate and setting forth the reasons
specifying the non-performance, and not less than fifteen (15) calendar days to cure the
failure; and (2) an opportunity for consultation with the terminating party prior to
termination.
C. If the Agreement is terminated prior to completion of the services to be provided
hereunder, CONSULTANT shall immediately cease all services and shall render a final
bill for services to the OWNER within thirty (30) days after the date of termination. The
OWNER shall pay CONSULTANT for all services properly rendered and satisfactorily
performed and for reimbursable expenses to termination incurred prior to the date of
subsequently contract with a new consultant for the continuation of services on the
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
Project, CONSULTANT shall cooperate in providing information. The CONSULTANT
shall turn over all documents prepared or furnished by CONSULTANT pursuant to this
Agreement to the OWNER on or before the date of termination, but may maintain copies
of such documents for its use.
ARTICLE XII
RESPONSIBILITY FOR CLAIMS AND LIABILITIES
Approval by the OWNER shall not constitute, nor be deemed a release of the
responsibility and liability of the CONSULTANT, its employees, associates, agents,
subcontractors, and subconsultants for the accuracy and competency of their designs or other
work; nor shall such approval be deemed to be an assumption of such responsibility by the
OWNER for any defect in the design or other work prepared by the CONSULTANT, its
employees, subcontractors, agents, and consultants.
ARTICLE XIII
NOTICES
All notices, communications, and reports required or permitted under this Agreement
shall be personally delivered or mailed to the respective parties by depositing same in the United
States mail to the address shown below, certified mail, return receipt requested, unless otherwise
To CONSULTANT: To OWNER:
Hilltop Securities Asset Management, LLC City of Denton
Scott McIntyre Purchasing Manager File 9020
717 N. Harwood St. Ste 3400, 901B Texas Street
Dallas, TX 75201 Denton, Texas 76201
All notices shall be deemed effective upon receipt by the party to whom such notice is
ARTICLE XIV
ENTIRE AGREEMENT
This Agreement and related exhibits constitute the complete and final expression of this
Agreement of the parties, and is intended as a complete and exclusive statement of the terms of
their agreements, and supersedes all prior contemporaneous offers, promises, representations,
negotiations, discussions, communications, and agreements which may have been made in
connection with the subject matter hereof.
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
ARTICLE XV
SEVERABILITY
If any provision of this Agreement is found or deemed by a court of competent
jurisdiction to be invalid or unenforceable, it shall be considered severable from the remainder of
this Agreement and shall not cause the remainder to be invalid or unenforceable. In such event,
the parties shall reform this Agreement to replace such stricken provision with a valid and
enforceable provision which comes as close as possible to expressing the intention of the stricken
provision.
ARTICLE XVI
COMPLIANCE WITH LAWS
The CONSULTANT shall comply with all federal, state, and local laws, rules,
regulations, and ordinances applicable to the work covered hereunder as those laws may now
read or hereinafter be amended.
ARTICLE XVII
DISCRIMINATION PROHIBITED
In performing the services required hereunder, the CONSULTANT shall not discriminate
against any person on the basis of race, color, religion, sex, sexual orientation, national origin or
ancestry, age, or physical handicap.
ARTICLE XVIII
PERSONNEL
A. The CONSULTANT represents that it has or will secure, at its own expense, all
personnel required to perform all the services required under this Agreement. Such
personnel shall not be employees or officers of, or have any contractual relations with the
OWNER. CONSULTANT shall inform the OWNER of any conflict of interest or
potential conflict of interest that may arise during the term of this Agreement.
B. All services required hereunder will be performed by the CONSULTANT or under its
supervision. All personnel engaged in work shall be qualified, and shall be authorized
and permitted under state and local laws to perform such services.
ARTICLE XIX
ASSIGNABILITY
The CONSULTANT acknowledges that this Agreement is based on the demonstrated
competence and specific qualifications of the CONSULTANT and is therefore personal as to the
CONSULTANT. Therefore, the CONSULTANT shall not assign any interest in this Agreement,
and shall not transfer any interest in this Agreement (whether by assignment, novation, or
otherwise) without the prior written consent of the OWNER.
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
ARTICLE XX
MODIFICATION
No waiver or modification of this Agreement or of any covenant, condition, or limitation
herein contained shall be valid unless in writing and duly executed by the party to be charged
therewith, and no evidence of any waiver or modification shall be offered or received in evidence
in any proceeding arising between the parties hereto out of or affecting this Agreement, or the
rights or obligations of the parties hereunder, and unless such waiver or modification is in
writing and duly executed; and the parties further agree that the provisions of this section will not
be waived unless as set forth herein.
ARTICLE XXI
MISCELLANEOUS
A. The following exhibits are attached to and made a part of this Agreement:
Exhibit A RFP 9020 Assessment of Organization Structure Related to Capital
Projects for the City of Denton (on file at the purchasing office)
Exhibit B Proposal
Exhibit C s Compensation Rate Sheet
Exhibit D
What is called for by one exhibit shall be as binding as if called for by all. In the event of
an inconsistency or conflict in this Agreement and any of the provisions of the exhibits,
the inconsistency or conflict shall be resolved by giving precedence first to this
Agreement then to the exhibits in the order in which they are listed above.
B. This Agreement shall be governed by, construed, and enforced in accordance with, and
subject to, the laws of the State of Texas or federal law, where applicable, without regard
to the conflict of law principles of any jurisdiction. In the event there shall be any dispute
arising out of the terms and conditions of, or in connection with, this Agreement, the
party seeking relief shall submit such dispute to the District Courts of Denton County or
if federal diversity or subject matter jurisdiction exists, to the United States District Court
for the Eastern District of Texas-Sherman Division.
C. For the purpose of this Agreement, the key persons who will perform most of the work
hereunder shall be Scott McIntyre. However, nothing herein shall limit CONSULTANT
from using other equally qualified and competent members of its firm to perform the
services required herein.
D. CONSULTANT shall commence, carry on, and complete any and all projects with all
applicable dispatch, in a sound, economical, and efficient manner and in accordance with
the provisions hereof. In accomplishing the projects, CONSULTANT shall take such
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
steps as are appropriate to ensure that the work involved is properly coordinated with
related work being carried on by the OWNER.
E.
disposal all available information pertinent to the Project, including previous reports, any
other data relative to the Project, and arranging for the access thereto, and make all
provisions for the CONSULTANT to enter in or upon public and private property as
required for the CONSULTANT to perform services under this Agreement.
F. The captions of this Agreement are for informational purposes only, and shall not in any
way affect the substantive terms or conditions of this Agreement.
G. The parties agree to transact business electronically. Any statutory requirements that
certain terms be in writing will be satisfied using electronic documents and signing.
Electronic signing of this document will be deemed an original for all legal purposes.
ARTICLE XXII
INDEPENDENT CONTRACTOR
CONSULTANT shall provide services to OWNER as an independent contractor, not as
an employee of the OWNER. CONSULTANT shall not have or claim any right arising from
employee status.
ARTICLE XXIII
RIGHT TO AUDIT
The OWNER shall have the right to audit and make copies of the books, records and
computations pertaining to this agreement. The CONTRACTOR shall retain such books,
records, documents and other evidence pertaining to this agreement during the contract period
and five years thereafter, except if an audit is in progress or audit findings are yet unresolved, in
which case records shall be kept until all audit tasks are completed and resolved. These books,
records, documents and other evidence shall be available, within 10 business days of written
request. Further, the CONTRACTOR shall also require all Subcontractors, material suppliers,
and other payees to retain all books, records, documents and other evidence pertaining to this
agreement, and to allow the OWNER similar access to those documents. All books and records
will be made available within a 50 mile radius of the City of Denton. The cost of the audit will
be borne by the OWNER unless the audit reveals an overpayment of 1% or greater. If an
overpayment of 1% or greater occurs, the reasonable cost of the audit, including any travel costs,
must be borne by the CONTRACTOR which must be payable within five business days of
receipt of an invoice.
Failure to comply with the provisions of this section shall be a material breach of this contract
the terms "books", "records", "documents" and "other evidence", as used above, shall be
construed to include drafts and electronic files, even if such drafts or electronic files are
subsequently used to generate or prepare a final printed document.
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
ARTICLE XXIV
PROHIBITION ON CONTRACTS WITH COMPANIES BOYCOTTING ISRAEL
Contractor acknowledges that in accordance with Chapter 2271 of the Texas Government Code,
City is prohibited from entering into a contract with a company for goods or services unless the
contract contains a written verification from the company that it: (1) does not boycott Israel; and
(2) will not boycott Israel during the term of the contract.
Government Code.
provides written verification to the City that Contractor: (1) does not boycott Israel; and (2)
will not boycott Israel during the term of the agreement. Failure to meet or maintain the
requirements under this provision will be considered a material breach.
ARTICLE XXV
PROHIBITION ON CONTRACTS WITH COMPANIES DOING BUSINESS WITH
IRAN, SUDAN, OR A FOREIGN TERRORIST ORGANIZATION
Sections 2252 and 2270 of the Texas Government Code restricts CITY from contracting with
companies that do business with Iran, Sudan, or a foreign terrorist organization. By signing this
City that Contractor, pursuant to Chapters 2252 and 2270, is not ineligible to enter into this
agreement and will not become ineligible to receive payments under this agreement by doing
business with Iran, Sudan, or a foreign terrorist organization. Failure to meet or maintain the
requirements under this provision will be considered a material breach.
ARTICLE XXVI
PROHIBITION ON CONTRACTS WITH COMPANIES BOYCOTTING CERTAIN
ENERGY COMPANIES
Contractor acknowledges that in accordance with Chapter 2274 of the Texas Government Code,
City is prohibited from entering into a contract with a company for goods or services unless the
contract contains written verification from the company that it (1) does not boycott energy
companies; and (2) will not boycott energy companies during the term of the contract. The terms
Section 809.001 of the Texas Government Code. By signing this agreement, Contractor
(1) does not boycott energy companies; and (2) will not boycott energy companies during the
term of the agreement. Failure to meet or maintain the requirements under this provision will be
considered a material breach.
ARTICLE XXVII
PROHIBITION ON CONTRACTS WITH COMPANIES BOYCOTTING CERTAIN
FIREARM ENTITIES AND FIREARM TRADE ASSOCIATIONS
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
Contractor acknowledges that in accordance with Chapter 2274 of the Texas Government Code,
City is prohibited from entering into a contract with a company for goods or services unless the
contract contains written verification from the company that it (1) does not have a practice,
policy, guidance, or directive that discriminates against a firearm entity or firearm trade
association; and (2) will not discriminate during the term of the contract against a firearm entity
those terms in Chapter 2274 of the Texas Government Code. By signing this agreement,
Contractor: (1) does not have a practice, policy, guidance, or directive that discriminates
against a firearm entity or firearm trade association; and (2) will not discriminate during the
term of the contract against a firearm entity or firearm trade association. Failure to meet or
maintain the requirements under this provision will be considered a material breach.
ARTICLE XXVIII
TERMINATION RIGHT FOR CONTRACTS WITH COMPANIES DOING BUSINESS
WITH CERTAIN FOREIGN-OWNED COMPANIES
The City of Denton may terminate this Contract immediately without any further liability if the
City of Denton determines, in its sole judgment, that this Contract meets the requirements under
Chapter 2274, and Contractor is, or will be in the future, (i) owned by or the majority of stock or
other ownership interest of the company is held or controlled by individuals who are citizens of
China, Iran, North Korea, Russia, or other designated country (ii) directly controlled by the
Government of China, Iran, North Korea, Russia, or other designated country, or (iii) is
headquartered in China, Iran, North Korea, Russia, or other designated country.
ARTICLE XXIX
CERTIFICATE OF INTERESTED PARTIES ELECTRONIC FILING
In 2015, the Texas Legislature adopted House Bill 1295, which added section 2252.908 of the
Government Code. The law states that the City may not enter into this contract unless the
Consultant submits a disclosure of interested parties (Form 1295) to the City at the time the
Consultant submits the signed contract. The Texas Ethics Commission has adopted rules
requiring the business entity to file Form 1295 electronically with the Commission.
Consultant will be required to furnish a Certificate of Interest Parties before the contract is
awarded, in accordance with Government Code 2252.908.
The consultant shall:
1. Log onto the State Ethics Commission Website at :
https://www.ethics.state.tx.us/filinginfo/1295/
2. Register utilizing the tutorial provided by the State
3. Print a copy of the completed Form 1295
4. Enter the Certificate Number on page 2 of this contract.
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
5. Complete and sign the Form 1295
6. Email the form to purchasing@cityofdenton.com with the contract number in the subject
line. (EX: Contract 1234 Form 1295)
The OWNER must acknowledge the receipt of the filed Form 1295 not later than the 30th day
after Council award. Once a Form 1295 is acknowledged, it will be posted to the Texas Ethics
ARTICLE XXX
PROHIBITION AGAINST PERSONAL INTEREST IN CONTRACTS
No officer, employee, independent consultant, or elected official of the City who is involved in
the development, evaluation, or decision-making process of the performance of any solicitation
shall have a financial interest, direct or indirect, in the Contract resulting from that solicitation as
23-1165 and in the City Charter chapter 2 article
XI(Ethics). Any willful violation of this section shall constitute impropriety in office, and any
officer or employee guilty thereof shall be subject to disciplinary action up to and including
dismissal. Any violation of this provision, with the knowledge, expressed or implied, of the
Contractor shall render the Contract voidable by the City. The Consultant shall complete and
The parties agree to transact business electronically. Any statutory requirements that
certain terms be in writing will be satisfied using electronic documents and signing. Electronic
signing of this document will be deemed an original for all legal purposes.
IN WITNESS HEREOF, the City of Denton, Texas has caused this Agreement to be
executed by its duly authorized City Manager, and CONSULTANT has executed this Agreement
through its duly authorized undersigned officer on this date______________________.
BY:
CONSULTANT
HILLTOP SECURITIES ASSET MANAGEMENT, LLC
Authorized Agent, Title
Full Name: ________________________
TEXAS ETHICS COMMISSION CERTIFICATE NUMBER
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
BY:
CITY OF DENTON, TEXAS
Cassey Ogden, Interim City Manager
ATTEST:
BY: _______________________________
APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
BY: ______________________________
THIS AGREEMENT HAS BEEN BOTH REVIEWED AND APPROVED
as to financial and operational obligations and business terms.
___________________________
SIGNATURE
___________________________
TITLE
___________________________
DEPARTMENT
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
Exhibit A
RFP - 9020 Investment Advisory Services
(on file in the purchasing office)
City of Denton, Texas Contract 9020
Revised Date: 9/11/18
FyijcjuC
Hilltop Securities Asset Management, LLC
717 N. Harwood Street, Suite 3400
Dallas, TX 75201
214-953-4000
www.hilltopsecurities.com
Form ADV Part 2B –BrochureSupplement
January 12, 2026
This Brochure supplement provides information about the employees that supplements Hilltop
Securities Asset Management, LLC (“HSAM”) Form ADV Part 2A. You should have received a
copy of that brochure. Please contact Hilltop Securities Asset Management, LLC Compliance
Department at 214-953-4000 if you did not receive Hilltop Securities Asset Management, LLC
brochure or if you have questions about the contents of this Brochure.
Additional information about the above-referenced individuals is available on the SEC’s website
at www.advisorinfo.sec.gov.
The HSAM employees referenced below work at the following locations:
o Jim Towne – Managing Director, Investment Advisor
777 S. HWY 101, Suite 104
Solana Beach, CA 92075
619-618-3635
o Scott McIntyre, CFA–Managing Director, Co-Head of Investment Management
o T. Gregory ‘Greg’ Warner, CTP – Managing Director, Co-Head of Investment Management
o Matthew ‘Matt’ Harris, CFA – Senior Vice President, Senior Portfolio Advisor
o Andrea Cash – Senior Vice President, Senior Portfolio Manager
o Alexis Correa – Assistant Vice President, Portfolio Manager
o Matthew Gomez – Assistant Vice President, Portfolio Manager
2700 Via Fortuna
Suite 410
Austin, TX 78746
1-800-575-3792
o Daniel Grant III – Senior Vice President, Senior Portfolio Manager
123 Brendans Way
Wells, ME 04090
512-481-2016
Hilltop Securities Asset Management, LLC 1
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Mary Ann Dunda
Year Born: 1967
Education: Texas A&M University – B.B.A., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o President, Hilltop Securities Asset Management
October 2024 - Present
o Senior Managing Director, Head of Governmental Services
August 2023 – October 2024
o Senior Managing Director, Co-Head of Governmental Services
March 2023 – August 2023
Hilltop Securities Inc.
o Senior Managing Director, Head of Governmental Services
August 2023 - Present
o Senior Managing Director, Co-Head of Governmental Services
March 2023 – August 2023
o Managing Director, Head of Fund Administration & Distribution
April 2021 – March 2023
o Managing Director, Government Investment Pools
August 2016 – April 2021
Item 3 – Disciplinary Information
Ms. Dunda does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Ms. Dunda is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer as
a Senior Managing Director, Head of Governmental Services. She does not receive any
additional compensation.
Item 6 – Supervision
David Medanich, Co-Head of Public Finance, serves as supervisor for Ms. Dunda and
can be reached at 214-953-4000.
Hilltop Securities Asset Management, LLC 2
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Scott McIntyre, CFA
Year Born: 1962
Education: Southwest Texas State University – B.S., Business Management
Business Experience:
Hilltop Securities Asset Management, LLC
o Managing Director, Co-Head of Investment Management
July 2022 - Present
o Managing Director, SeniorPortfolio Manager
August 2016 – July 2022
Hilltop Securities Inc.
o January 2016 – Present
Item 3 – Disciplinary Information
Mr. McIntyre does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. McIntyre is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer.
He does not receive any additional compensation.
Item 6 – Supervision
Mary Ann Dunda serves as supervisor for Mr. McIntyre and can be reached at 214-953-
4086.
Hilltop Securities Asset Management, LLC 3
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: T. Gregory ‘Greg’ Warner, CTP
Year Born: 1966
Education: University of Texas, Austin – B.A.A., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o Managing Director, Co-Head of Investment Management
July 2022 - Present
o Senior Vice President,SeniorPortfolio Manager
August 2016 – July 2022
Hilltop Securities Inc.
o January 2016 – Present
Item 3 – Disciplinary Information
Mr. Warner does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Warner is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer.
He does not receive any additional compensation.
Item 6 – Supervision
Mary Ann Dunda serves as supervisor for Mr. Warner and can be reached at 214-953-
4086.
Hilltop Securities Asset Management, LLC 4
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Daniel Grant III
Year Born: 1967
Education: Bentley College – B.S., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o Senior Vice President, Senior Portfolio Manager
February 2025 - Present
o Vice President, Portfolio Manager
August 2016 – February 2025
Hilltop Securities Inc.
o January 2016 – Present
Item 3 – Disciplinary Information
Mr. Grant does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Grant is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer. He
does not receive any additional compensation.
Item 6 – Supervision
Scott McIntyre serves as supervisor for Mr. Grant and can be reached at 512-481-2009.
Hilltop Securities Asset Management, LLC 5
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Andrea Cash
Year Born: 1966
Education: University of Washington – B.A., Sociology
Business Experience:
Hilltop Securities Asset Management, LLC
o Senior Vice President, Senior Portfolio Manager
February 2025 - Present
o Vice President, Portfolio Manager
April 2021 – February 2025
o Assistant Vice President, Portfolio Manager
August 2016 – April 2021
Hilltop Securities Inc.
o January 2016 – Present
Item 3 – Disciplinary Information
Ms. Cash does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Ms. Cash is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer.
She does not receive any additional compensation.
Item 6 – Supervision
Scott McIntyre serves as supervisor for Ms. Cash and can be reached at 512-481-2009.
Hilltop Securities Asset Management, LLC 6
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Alexis Correa
Year Born: 1996
Education: Texas State - B.B.A., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o Assistant Vice President, Portfolio Manager
February 2025 - Present
o Investment Analyst
May 2022 – February 2025
Hilltop Securities Inc.
o May 2022 - Present
City of Austin Treasury Department
o Financial Analyst II
April 2021 – May 2022
Make-A-Wish Arizona
o Finance & Human Resources Manager
January 2019 – April 2021
Item 3 – Disciplinary Information
Mr. Correa does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Correa is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer.
He does not receive any additional compensation.
Item 6 – Supervision
Scott McIntyre serves as supervisor for Mr. Correa and can be reached at 512-481-2009.
Hilltop Securities Asset Management, LLC 7
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Matthew Gomez
Year Born: 1986
Education: University of Texas, Austin – B.A., Government
University of Texas, San Antonio – B.A., Economics
University of Texas, Permian Basin – M.B.A., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o Assistant Vice President, Portfolio Manager
February 2025 - Present
o Investment Analyst
August 2022 – February 2025
Hilltop Securities Inc.
o August 2022 – Present
Unemployed – Parental Obligation
o December 2021 – August 2022
Intrua Financial
o Client Service Associate
May 2020 – December 2021
Item 3 – Disciplinary Information
Mr. Gomez does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Gomez is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer.
He does not receive any additional compensation.
Item 6 – Supervision
Scott McIntyre serves as supervisor for Mr. Gomez and can be reached at 512-481-2009.
Hilltop Securities Asset Management, LLC 8
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Jim Towne
Year Born: 1965
Education: St. Cloud State University - B.S., Finance
University of Minnesota – M.B.A., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o Managing Director, Investment Advisor
August 2023 – Present
Hilltop Securities Inc.
o Managing Director, Head of Hedging and Reinvestment
February 2023 to Present
Caldwell Sutter Capital, Inc.
o Managing Director, Debt Capital Markets
June 2021 – February 2023
Alpine Valley Advisors, LLC
o President & Owner
March 2017 – June 2021
Item 3 – Disciplinary Information
Mr. Towne does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Towne is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer as
a Managing Director, Head of DCM Structuring. He does not receive any additional
compensation.
Item 6 – Supervision
Mary Ann Dunda serves as supervisor for Mr. Towne and can be reached at 214-953-
4086.
Hilltop Securities Asset Management, LLC 9
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Lance Flores
Year Born: 1990
Education: University of North Texas – B.A. Economics
Business Experience:
Hilltop Securities Asset Management, LLC
o Asset Management Sales
January 2024 - Present
Hilltop Securities Inc.
o Asset Management Sales
July 2022 – Present
Merrill Lynch, Pierce, Fenner & Smith Incorporated
o Financial Advisor
May 2018 – July 2022
Item 3 – Disciplinary Information
Mr. Flores does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Flores is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer as
Asset Management Sales for Governmental Services. He does not receive any additional
compensation.
Item 6 – Supervision
Mary Ann Dunda serves as supervisor for Mr. Flores and can be reached at 214-953-
4086.
Hilltop Securities Asset Management, LLC 10
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Mica Owens-Weary
Year Born: 1972
Education: Paul Quinn College
Attended: August 1992 – March 1993
Degree: Not obtained
Major: Psychology
Business Experience:
Hilltop Securities Asset Management, LLC
o Asset Management Sales
March 2024 - Present
Hilltop Securities Inc.
o Asset Management Sales
January 2016 – Present
Item 3 – Disciplinary Information
Ms. Owens-Weary does not have any legal, civil, criminal, regulatory or disciplinary
history to report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Ms. Owens-Weary is dually employed with Hilltop Securities, Inc. an affiliated
Broker/Dealer as Asset Management Sales for Governmental Services. She does not
receive any additional compensation.
Item 6 – Supervision
Mary Ann Dunda serves as supervisor for Ms. Owens-Weary and can be reached at
214-953-4086.
Hilltop Securities Asset Management, LLC 11
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Matthew ‘Matt’ Alan Harris, CFA
Year Born: 1985
Education: University of Texas, Austin – B.A., Government
Business Experience:
Hilltop Securities Asset Management, LLC
o Senior Vice President, Senior Portfolio Advisor
March 2025 - Present
Hilltop Securities Inc.
March 2025 – Present
o
o Senior Vice President, Fixed Income Strategist
January 2024 – March 2025
The Baker Group, LP
o Associate Partner, Financial Strategies Group
February 2007 – December 2023
Item 3 – Disciplinary Information
Mr. Harris does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Item 4 & 5 – Other Business Activity and Additional Compensation
Mr. Harris is dually employed with Hilltop Securities, Inc. an affiliated Broker/Dealer.
He does not receive any additional compensation.
Item 6 – Supervision
Scott McIntyre serves as supervisor for Mr. Harris and can be reached at 512-481-2009.
Hilltop Securities Asset Management, LLC 12
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Charles McCormick
Year Born: 2001
Education: University of Kansas – B.A., Finance
Business Experience:
Hilltop Securities Asset Management, LLC
o Hedging and Reinvestment Advisor
March 2025 – Present
Hilltop Securities Inc.
o Hedging and Reinvestment Advisor
June 2024 – Present
Broski Fence
o Field Hand
Jan 2023 – May 2024
Undergraduate University Student
o University of Kansas
August 2020 – May 2024
Item 3 – Disciplinary Information
Mr. McCormick does not have any legal, civil, criminal, regulatory or disciplinary history
to report.
Item 4 & 5 –Other Business Activity and Additional Compensation
Mr. McCormick is dually employed with Hilltop Securities, Inc. an affiliated
Broker/Dealer as a Hedging and Reinvestment Advisor. He does not receive any
additional compensation.
Item 6 – Supervision
Jim Towne serves as supervisor for Mr. McCormick and can be reached at 651-300-
9799.
Hilltop Securities Asset Management, LLC 13
Form ADV Part 2B
January 12, 2026
Item 2 – Educational Background and Business Experience
Name: Jennifer Onstad
Year Born: 1970
Education: Sierra College, Rocklin, CA 1994-1995
Sacramento Community College, Sacramento, CA, 1994
Degree: Not obtained
Major: Communications
Business Experience:
Hilltop Securities Asset Management, LLC
o Asset Management Sales
November 2025 - Present
Hilltop Securities Inc.
o Asset Management Sales
May 2025 – Present
TCBI Securities
o Registered Representative
May 2024 – May 2025
Texas Capital Bank
o Vice President
October 2021 – May 2024
California Mortgage Bankers Association
o Conference Manager
November 2019 – October 2021
Item 3 – Disciplinary Information
Ms. Onstad does not have any legal, civil, criminal, regulatory or disciplinary history to
report.
Hilltop Securities Asset Management, LLC 14
Form ADV Part 2B
January 12, 2026
Item 4 & 5 – Other Business Activity and Additional Compensation
Ms. Onstad is dually employed with Hilltop Securities Inc. an affiliated Broker/Dealer as
Asset Management Sales for Governmental Services. She does not receive any
additional compensation.
Ms. Onstad owns a condominium property in TX, which she rents and receives rental
income. Additionally, she serves on the condominium board as secretary. This activity
does not conflict with her duties and responsibilities as an employee of Hilltop Securities
Asset Management, LLC.
Item 6 – Supervision
Mary Ann Dunda serves as supervisor for Ms. Onstad and can be reached at 214-953-
4086.
Hilltop Securities Asset Management, LLC 15
Form ADV Part 2B
January 12, 2026
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//////////
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/////////////////////////////
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/////////////////////////////
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/////////////////////////////
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/////////////////////////////
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/////////////////////////////
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/////////////////////////////
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/////////////////////////////
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////////////
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////////////
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//////////////////////////////
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//////////////////////////////
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//////////////////////////////
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//////////////////////////////
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//////////////////////////////
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//////////////////////////////
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//////////////////////////////
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//////////////////////
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/////////////
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31813131161111964621116111
/////////////
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/////////////
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/////////////
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/////////////
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/////////////
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/////////////
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/////////////
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/////////////////////////////
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/////////////////////////////
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///////////////////////////
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/////////////////////////////
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/////////////////////////////
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/////////////////////////////
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///
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//
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//
///
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////////
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//////////
TTTTTTTTTT
//////////
Upzpub!Npups!Dsfeju!Dpsq!1VFnpsz!Vojw!Ubybcmf!DQ!5GGDC!5Upzpub!Npups!Dsfeju!Dpsq!1VVSpzbm!Cbol!pg!Dbobeb!1Spzbm!Cbol!pg!Dbobeb!1VUfyQppmUfyTUBSUfyTUBSVVXfmmt!Gbshp!.!NbjoUpzpub!Npups!Dsfeju!Dpsq!1Fnp
sz!Vojw!Ubybcmf!DQ!5VGGDC!5GGDC!6GGDC!5VGGDC!5Spzbm!Cbol!pg!Dbobeb!1VGGDC!5VNVGH!Cbol-!Mue
DQVT!HPWUDQBHDZDQVT!HPWUVT!HPWUDQDQVT!HPWUMHJQMHJQMHJQVT!HPWUVT!HPWUCBOL!EFQDQDQVT!HPWUBHDZBHDZBHDZVT!HPWUBHDZDQVT!HPWUBHDZVT!HPWUDQ
9:344HY79:2393DGQ23:268QFC74244FQD489:344HZF1:2393DGX7:2393DHB48911:B\[L48911:B\[Q3:239396U4UFYQPPMUFYTUBSUFYTUBS3VTUEETMH3VTUEETMHTXG.EOUO29:344IB723:268QFI4:2393DHF64244FSNL54244FSDU74244FSOK7:2393
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Fbsofe!Jodpnf ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
9618:3117292444:899:6261:8914:398884:2163675658:581258:55262
//////////////////////////////
7-7198-554
82-::35:-83457-33662-42:79-17258-28862-915:7-94561-85847-74:59-863:8-:4765-85:61-66162-23262-155
222-882311-858352-282317-181467-:57215-533473-945283-184215-292398-912251-954236-216
111111111111111111111111111111111111111111111111111111111111
//////////////////////////////
111111111111111111111111111111
1:119:444:899:68:84:51163675158:58923386
////////////////////
:4*:8*2:*48*31*:3*55*53*63*54*
//////////
542262
7-7195-2634-2983-536
41-77957-33638-98879-17258-2885:-:6:47-74:58-62423-945:8-18462-66938-32:
)3-283)6-613):-757)6-772)3-995)6-887
258-53222:-162
)21-214)35-363)3:-123)62-278
43286611:9981111111367969411116896317:2459555335558:78553::1
//////////////////////////////
11111
369
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29-79236-83:74-81961-63167-3615:-66436-:7731-5436:-:558:-74679-55574-4:8:6-92159-325:5-2:9
526-871252-755386-:77321-27:757-84:236-654365-:6:
111111111111111111111111111111111111111111111111111111
///////////////////////////
67*:2*24*
///
111111111111111111111111111
)6-948
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111111111111111111111111111111111111111111111111111111111111
//////////////////////////////
111111111111111111
57-986
217-361354-861214-236223-611226-736211-11191:-486329-861318-611223-611248-611
8711:111831111111111:498111111314828441111116111116378839588
//////////////////////////////
11111
8-3:2
52-43562-9:734-552:4-86158-76257-98667-36169-4::61-53486-11162-67359-23665-1169:-39667-931:8-996
232-986336-111346-193519-225221-195461-111214-861279-861
1128771137981111111374:994111148591447245955:335553811925511
//////////////////////////////
11111111
797
4-756:-4:3
71-97134-7:358-9:527-16751-99486-65461-65439-18397-31:31-42:
258-7152:1-871223-611217-88:722-54123:-1:93:7-84:274-7:5214-9:4
1!17041031371!1902503137
//
1!1901603137
/
236!1604203137236!1702603137986!17041031376!18026031376!190260313786!1904203137736!1:02603137736!21026031371!2202603137736!2202603137486!23026031371!12026031386!120420313836!130260313836!14026031386!
14042031386!150260313886!1504103138
//////////////////
1!19017031371!2101203137
//
1!2101203137
/
96!1303403138
/
986!1:03503137
/
986!170230313726!1301:03138
236!13023031386!1403703138
//
//
!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!5!Usfbtvsz!Cjmm!1!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Cjmm!1!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtv
sz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3
////////////////////
TTTTTTTTTTTTTTTTTTTT
////////////////////
VGIMC!5VUpzpub!Npups!Dsfeju!Dpsq!1VVSpzbm!Cbol!pg!Dbobeb!1VUpzpub!Npups!Dsfeju!Dpsq!1VVVGONB!2UFYBT!TUBUF!6VVVVVVVGIMC!5GGDC!5VGIMND!4VGGDC!4VVV
VT!HPWUBHDZVT!HPWUDQVT!HPWUVT!HPWUDQVT!HPWUDQVT!HPWUVT!HPWUVT!HPWUBHDZNVOJVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMBHDZVT!HPWUBHDZ!DBMMVT!HPWUBHDZVT!HPWUVT!HPWUVT!HPWU
:239397Y44241C2CU4:2393DII89:344IGX::239398C1:2393DIN78911:CI65:238:8SH59:344IIF8:239393B8:2393DMI3:2393DIZ14246H1R33993835SC6:238:8TB7:2393DKD7:23939V35:2393DKL9:2393DKQ8:2393DKU::23939\[894241C7DC1
4244FQ3U2:23939W:94245ICRQ::2393DLF14244FU6S5:2393DFG5:2393DLK::2393DFO8
Fbsofe!Jodpnf ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
6641112417832853713412467129::53568:61995651923:
////////////////////////
:-7:1
68-2193:-2:169-454:3-::632-536:4-2:761-72359-69263-34462-:9678-33556-14964-88485-17984-76285-3:4
26:-124212-99:277-18221:-:48286-967269-68:216-65:
111111111111111111111111111111111165111111111111
////////////////////////
11111111111111111111111
38-615
844:61284571:3237129::53565879:4181847
///////////////////
69*23*92*36*41*
/////
86
967
)325
8-6665-:966-7:74-8984-7982-:966-65:2-:532-6749-1552-327
2:-28422-56552-34821-18466-5653:-521
)4-361)9-651
)22-276)34-48:
7523:3:438639::294:5:83363895322781176:22641:519
////////////////////////
1
646283
9-756
41-94698-74934-18745-17632-71191-44528-14382-22257-77727-4579:-534
226-192219-999262-1462:7-4423:3-:45266-919262-146278-4:2217-291
1111111111111111111111111111
//////////////
93*42*79*41*81*51*88*72*31*26*
//////////
11111111111111
)2-553)7-841
):9-752)56-794):2-478)95-893)51-684)27-457
)222-761)277-333
11111111111111111111111111111111119:111111111111
////////////////////////
1111111111111
29-861:7-986:7-986:9-99942-361
229-861448-6112:4-861342-36141:-486311-111
93997236983311191142373411111111118992:6497:85:4
////////////////////////
:-486:-726
48-:4532-74572-6:427-55198-611:1-54659-8:659-55761-11148-88826-73863-31:93-71976-71884-187
281-289227-485266-::8217-361286-111214-236211-111
1135111152119:24947581::638953227822956711111111
////////////////////////
11111111
8-569
32-49925-:2829-13176-22359-:74:1-19263-79432-22272-22226-8:5
365-:6:247-586344-823228-:45257-777
486!16026031386!1602603138736!1604203138986!1604203138736!170260313886!1804203138486!1:02603138236!2202603138986!2204103138986!230420313836!12026031396!120420313986!130260313936!1704103139486!1:02603
1396!23026031391!120420313:236!190420313:6!1:0410313:
///////////////////
6!1:01:031381!13034031391!1602:031391!1701:03139
////
86!2101903138
/
!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!4!Usfbtv
sz!Opuf!3!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4
///////////////////
TTTTTTTTTTTTTTTTTTT
///////////////////
VVVVVVGIMND!4VGONB!1VVVVVVGIMND!5GIMND!5GIMND!5VVVVVV
VT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMVT!HPWUBHDZVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMBHDZ!DBMMBHDZ!DBMMVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWU
:23939Y99:2393DLS2:2393DFU5:2393DOF8:2393DLW3:2393DGC34245ICM77:2393DMM44246H16Z6:2393DMY8:2393DG\[::2393DHD::2393DNG6:2393DHI9:239394X94245ICRR84245ICSN64245ICWS::2393DDI3:2393DOZ4:2393DQQ1:2393DKX3
:2393DGK6:2393DMO:
Fbsofe!Jodpnf ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
:956296426756757225:4686844111111742751755:86:79:58:586:37328585:163163:691
/////////////////////////
4444444445544444334444444
:956296426756757225:4686844111111742751755:86:79:58:586:37328585:163163:691
/////////////////////////
4444444445544444334444444
11111111111111111111111111111111111111111111111111
/////////////////////////
1111111111111111111111111
115::87644185711551167281842335551272:797819897611
/////////////////////////
72-87677-:73
5-968-1365-:44-487:-::3-:19:-994-2625-942-859:-834-:31:-:98-:146-111-1116-111-666:-987-587:-:35-:43:-822-6835-:12-77::-972-:9::-:71-8615-994-6:26-146-:29:-::9-638
21-343-93:21-132-4::21-311-:9921-164-58725-:97-161
1172:226311157116711677893791111111142411181518811
/////////////////////////
1111111111
666
6-9484-1492-5537-841
95-89327-45751-68494-717:9-75256-794:2-478
241-885222-761277-333
11991761241811119911116136743355512799497849499911
/////////////////////////
72-87677-:73
5-968-1365-:38-64::-:87-673:-953-6895-942-859:-9:1-736:-834-:31:-:15-3:76-111-1116-111-111:-984-548:-924-392:-822-6835-:12-77::-971-657:-973-21:5-994-6:25-::1-345:-:73-21::-::2-8:7
21-259-15721-145-87625-:97-161
252591662877537746:1734:154111111845244459227144111111716732783916732:29:18
/////////////////////////
22
:8:9:::9:7:9:8:::9:9:8:9:9:9:8::::::::
212211211211
11111111111111111111111111111111512711111111111111
/////////////////////////
72-87677-:73
6-111-1116-111-1116-111-1116-111-1116-111-1116-111-1116-111-1116-111-111
21-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11121-111-11126-111-111
170410371204203:140420381:04103:1904203:210120371504103819017037160420371202503712025037150410381602603816042038190250371603703723042036230420361604203818042038190160371:0260381:026039230260391403703
8
111111611611236111861111236111111861486986111111111111736861111486486611611
/////////////////////////
1534413135533411113314444
-!Ofx!Zpsl!Csbodi
/
!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Cjmm!Usfbtvsz!Opuf!Usfbtvsz!Cjmm!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!EE!TMHT!Usfbtvsz!EE!TMHT!Usfbtvsz!O
puf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf
//////////////////
TTTTTTTTTTTTTTTTTT
//////////////////
Upzpub!Npups!Dsfeju!DpsqVVVVVVVVFnpsz!Vojw!Ubybcmf!DQFnpsz!Vojw!Ubybcmf!DQVVVUpzpub!Npups!Dsfeju!DpsqNVGH!Cbol-!MueVVVVSpzbm!Cbol!pg!DbobebVVVGGDC
DQVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUDQDQVT!HPWUVT!HPWUVT!HPWUDQDQVT!HPWUVT!HPWUVT!HPWUVT!HPWUDQVT!HPWUVT!HPWUVT!HPWUBHDZ
21018036210280362102803621028036210280362102803621033036210330362103303621034036210350362201503622015036220150362202903622036036220410362204103623013036230210362302:0362303303623033036230330362303703
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210170362102703621027036210270362102703621027036210320362103203621032036210340362103403622014036220140362201403622028036220350362204103622041036230120362301:036230290362302:0362302:0362302:0362303403
6
9:344IGX::2393DKX3:2393DFG5:2393DMO::2393DGK6:238:8TB7:2393DFO8:238:8SH5:239397Y43:268QFI43:268QFI4:2393DFO8:23939Y99:2393DOF89:344IIF87358:NFT9VTUEETMH3VTUEETMHT:2393DFU5:2393DGC38911:CI65:2393DMM4:
2393DOZ4:2393DQQ14244FU6S5
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......................................................
......................................................
651111111111111111111111111111111111111111111111111111
///////////////////////////
11111111111111111111111111
38-615
111111111111114:1111111111111111111111111111119:111111
///////////////////////////
29-86183-33792-361:7-986:9-999
223-611217-361486-111223-611226-736248-611348-611318-611232-98691:-486448-611211-111561-11141:-486229-861311-111217-3612:4-861354-861214-236511-111
6-111-111
111111111111114:1111111111111111111111111111119:111111
///////////////////////////
1
29-86183-33792-361:7-986:9-999
223-611217-361486-111223-611226-736248-611348-611318-611232-98691:-486448-611211-111561-11141:-486229-861311-111217-3612:4-861354-861214-236511-111
111111111111111111111111111111111111111111111111111111
///////////////////////////
11111111111111111111111111
6-111-111
111
/
211
1111111111111111111111111111111111111111111111111111
//////////////////////////
11*
/
11111111111111111111111111
)6-111-111
2301:0361301:0371302:0372301:036
1701:0392101203721019038210260361502603715026038210260372103403615041038160190371301:03822024036220260371602603816026037220260372202603622026038160260381602:0391604203722041038160420381701:0391702303
71702603723026036
111111861361861611736481861861261986736611736111611236486111236986986111986236111
///////////////////////////
561545553555552355353445555
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fbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf
/////////////////
TTTTTTTTTTTTTTTTT
/////////////////
GIMNDUFYBT!TUBUFGONBVVVVFnpsz!Vojw!Ubybcmf!DQVGGDCGIMCGGDCVVVVVVVGIMNDVVVGIMNDGIMCVV
BHDZ!DBMMNVOJBHDZVT!HPWUVT!HPWUVT!HPWUVT!HPWUDQVT!HPWUBHDZBHDZ!DBMMBHDZVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMBHDZVT!HPWUVT!HPWU
2301:0362101203621019036210260362102603621026036210260362103403621042036220190362201:03622024036220260362202603622026036220260362202603622026036220260362202:0362204103622041036220410362301:0362302303
62302603623026036
2301:0362101203621019036210260362102603621026036210260362103403621042036220190362201:03622024036220260362202603622026036220260362202603622026036220260362202:0362204103622041036220410362301:0362302303
62302603623026036
4245ICWS:993835SC64246H16Z6:2393DGQ2:2393DHW8:2393DLK::2393DKD73:268QFC7:2393DFO84244FSE\[24241C7DC14244FQD48:2393DKL9:2393DLS2:23939S47:23939V35:2393DGX7:2393DMY8:23939Y994245ICSN6:239397Y4:2393DG\[
::2393DOF84245ICWS:4241C2CU4:2393DII8:2393DHB4
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............................................
............................................
11111111111111111111111111111111111111111111
//////////////////////
1111111111111111111111
1111111111111111111111111111111157:997451995
//////////////////////
57-98676-73642-361:7-98632-34434-12:31-42833-13831-32532-:25
329-861342-361
6-111-1116-111-1116-111-1116-111-1116-111-1116-111-111
21-111-11131-111-11131-111-11121-111-111
1111111111111111111111111111111157:997451995
//////////////////////
1111111111
57-98676-73642-361:7-98632-34434-12:31-42833-13831-32532-:25
329-861342-361
11111111111111111111111111111111111111111111
//////////////////////
111111111111
6-111-1116-111-1116-111-1116-111-1116-111-1116-111-111
21-111-11131-111-11131-111-11121-111-111
111111111111111111111111111111
//////////
211211211211211211211211211211
111111111111111111111111
////////////
11*11*11*11*11*11*11*11*11*11*
//////////
111111111111
)6-111-111)6-111-111)6-111-111)6-111-111)6-111-111)6-111-111
)21-111-111)31-111-111)31-111-111)21-111-111
230260371702603817041037230420361704103923042038210170362102603621034036220240362202503622026036230260362302:0362303403623042036230420362304203623042036230420362304203623042036
486736986736361986111361481986111611111111111736111111111111111111
//////////////////////
5523241555155113111111
!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!Opuf!Usfbtvsz!EE!TMHT!Usfbtvsz!EE!TMHT!Usfbtvsz!EE!TMHT!Usfbtvs
z!EE!TMHT!Usfbtvsz!EE!TMHT!Usfbtvsz!EE!TMHT
////////////////
TTTTTTTTTTTTTTTT
////////////////
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VT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUDQVT!HPWUDQBHDZDQVT!HPWUVT!HPWUDQDQVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWU
230260362302603623042036230420362304203623042036210170362102603621034036220240362202503622026036230260362302:0362303403623042036210420362104203622041036220410362304203623042036
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:2393DKQ8:2393DLW3:239398C1:239396U4:2393DDI3:2393DHD:9:344HY79:2393DGQ23:268QFC74244FQD489:344HZF1:2393DGX7:2393DHB48911:B\[L48911:B\[Q3:239396U4VTUEETMH3VTUEETMHTVTUEETMH3VTUEETMHTVTUEETMH3VTUEETMH
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758345741
///
455
758345741
///
455
1165
//
1
38-615
11113967
////
8:*
/
239-838
6-111-1116-:67-851
:1-111-111
)2:4-:9:-598
11
/
21*
/
1
)998-365
11111111
////
7:*
/
11
6-111-111
:1-111-111
)2:4-213-344
671111
///
11*11*
//
11
)6-111-111
2:6-239-838
):1-111-111
Upubm!CvzUpubm!Dbmm!SfefnqujpoUpubm!NbuvsjuzUpubm!DpvqpoUpubm!Npofz!Nbslfu!Gvoet
Jowftunfou!Usbotbdujpot!Upubmt ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
11111111111111111125:722118::87:1:39359:41629683:8:1951159
/////////////////////////////
111111111
9-576-566:-288-834:-::5-347:-:::-38:5-:93-244:-::8-7235-:69-:49:-::7-473:-997-8815-:32-76::-:45-:756-115-3785-:14-3615-:54-522
21-111-1112:-::3-53651-111-32331-114-8722:-::4-84:21-129-288
111111111111111111111111:81::195
////////////////
9:*32*42*83*87*22*81*5:*26*39*14*11*63*
/////////////
111111111111
323
)831
4-8725-378
29-288
)6-874)8-685)3-498)7-371)4-748
)28-977)52-172)89-451)76-146):7-861)67-699
)224-33:
111111111111111111111111113:::51359:8:6271391:1196
/////////////////////////
14*:2*21*83*
////
111111111111
25-67234-92367-2993:-78727-4732:-::141-77957-336
)5-298)3-:69
411-98641:-72436:-197562-725229-131
)62-549)65-733
83:3:8224361839::7111167114985629:6799:262391:119:
/////////////////////////
83*78*:4*:8*
////
111
626576
)894
4-1453-4774-5976-6273-6:2
64-52221-25247-65556-645:5-:9925-3335:-88447-6385:-81687-3612:-::141-77957-33638-988
):-722)3-283
217-166
)21-214
11111111111111111125:7221161118111991111621136559911671174
/////////////////////////////
111111111
9-576-566:-288-834:-7:4-472:-:95-8285-834-157:-:84-9115-:13-861:-:91-111:-546-2675-:12-77::-:15-3:76-118-3375-968-1365-936-4:1
21-111-1112:-793-92351-115-51131-166-3112:-:75-17321-183-911
111111111111111111111111111111111:45111525122958387572849166931911463144154839256251619
/////////////////////////////
11111111122
:7:9:::5:::9:::::5:9:::8:7
211211211211211
11111111111111111125:7111111111111111111111111111111111111
/////////////////////////////
111111111
9-576-566:-288-8346-111-1116-111-1116-111-1116-111-1116-111-1116-111-111
21-111-11121-111-11131-111-11151-111-11121-111-11131-111-11121-111-11131-111-11121-111-11121-111-11121-111-11121-111-111
1!1603703137
/
1!21017031361!22025031361!12017031371!1704103137
////
1!1202503137
/
1!23042031361!2304203136
1!2302:031361!23034031361!1402903137
//
///
36!21026031366!22026031361!2302603136736!2304203136986!1202603137736!130260313786!1502603137736!1602603137236!1604203137236!1702603137986!1704103137
///////////
-!Ofx!Zpsl!Csbodi!1
/
986!1702303137
986!2202403136736!12037031371!1203:031376!1301703137736!140160313786!1601903137
/
//////
!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!EE!TMHT!1!Usfbtvsz!EE!TMHT!1!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!
Usfbtvsz!Opuf!2
/////////////
TTTTTTTTTTTTT
/////////////
Upzpub!Npups!Dsfeju!Dpsq!1VGGDC!5Upzpub!Npups!Dsfeju!Dpsq!1VVSpzbm!Cbol!pg!Dbobeb!1Spzbm!Cbol!pg!Dbobeb!1VVVUpzpub!Npups!Dsfeju!Dpsq!1Fnpsz!Vojw!Ubybcmf!DQ!5VGGDC!5GGDC!6GGDC!5VGGDC!5Spzbm!Cbol!pg!Db
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DQVT!HPWUBHDZDQVT!HPWUVT!HPWUDQDQVT!HPWUVT!HPWUVT!HPWUDQDQVT!HPWUBHDZBHDZBHDZVT!HPWUBHDZDQVT!HPWUBHDZVT!HPWUDQVT!HPWUBHDZVT!HPWUDQVT!HPWU
1202803613017035220390341302:036140360361501203621012035150260361803:0351503:03519027035140120351402:0351:02:0361601:0351702903522036036210330361803:035190390362101803623017035
9:344HY79:2393DGQ24244FQD489:344HZF1:2393DGX7:2393DHB48911:B\[L48911:B\[Q3:239396U4VTUEETMH3VTUEETMHT9:344IB723:268QFI4:2393DHF64244FSNL54244FSDU74244FSOK7:23939Q574244FQ5L98911:CDK::2393DHW84244FSE\
[2:23939S477358:NFT9:239397Y44241C2CU4:2393DII89:344IGX::239398C1
Bnpsuj{bujpo!boe!Bddsfujpo ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
66114:1134375395:85731567:55:137564886824192543836:9:7386293
//////////////////////////////
5-9:1-311:-8:2-:92:-869-8615-:9:-156:-966-3645-627-6225-979-4986-141-749:-943-662:-::9-6:85-:96-4845-:99-7146-124-:936-141-366:-943-565:-979-213
31-164-4:235-738-33131-192-35:46-291-44321-133-15645-:56-1452:-67:-7743:-562-36625-:97-31225-83:-2122:-8:2-39326-173-98521-142-62621-252-55:
6653:8317:554138:76293
///////////
11*72*11*88*85*27*65*66*21*85*66*74*36*3:*2:*68*86*13*84*
///////////////////
64-4:292-35:27-62241-74933-15624-:9341-36673-98542-626
)2-513
291-443252-55:
)21-:65)65-:76)25-737)22-4:7)24-8:9
)21:-911)319-129)352-361)483-88:)255-857)242-723)278-559)541-447)659-855)381-9:9)319-828)278-656)242-9:8
444:896581954:68:73756481182926686844:
///////////////////
25*95*14*66*36*92*25*:9*84*23*41*
///////////
262
7-7192-1:86-7148-666
79-17258-2882:-42947-74:64-93434-23438-32:2:-284
)7-:27)4-361
813-526369-964339-365596-399672-523363-:3:
):1-274)48-:49)23-441)36-721)25-386)47-:3:)3:-364
)246-267)353-239
444:899:68:84:51163675158:58923386844:
///////////////////
2:*48*31*:3*55*53*63*54*69*23*92*
///////////
542262
7-7195-2634-2983-5368-666
79-17258-2885:-:6:47-74:58-62423-945:8-18462-66938-32:2:-284
)6-613):-757)6-772)3-995)6-887)4-361
258-53222:-162
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7:7811337:67371111188699:536:511111186115511993661367:997423
//////////////////////////////
5-994-6:2:-834-:31:-822-6835-:7:-837:-6:7-5115-665-5615-942-8596-153-:79:-715-3:7:-::8-6115-:73-3615-:94-1116-131-9:96-155-642:-924-392:-971-657
31-254-66534-:35-91531-327-51746-533-57121-158-76745-9:2-3212:-195-48639-99:-95425-:97-16125-587-2822:-875-17326-1::-91521-145-87621-281-814
82978334:2277::4:6193:7532174696:15431858879:533:863563::771529:186199:2931244776716459818
//////////////////////////////
:8:8:8:6:::6:7:7:::6:::::7:::::7:9:9:9
211212212211212211211211211211212
111111111111111111111111111111111111111111111111111111111111
//////////////////////////////
6-111-1116-111-1115-611-1116-111-1116-111-1116-111-1116-111-1116-111-1116-111-111
31-111-11121-111-11121-111-11136-111-11131-111-11121-111-11121-111-11146-111-11121-111-11146-111-11131-111-11121-111-11141-111-11126-111-11126-111-11131-111-11121-111-11126-111-11121-111-11121-111-11
121-111-111
1!1902503137
/
1!1901603137
/
6!18026031376!190260313786!1904203137736!1:02603137736!21026031371!2202603137736!2202603137486!23026031371!12026031386!120420313836!130260313836!14026031386!14042031386!150260313886!1504103138486!160
26031386!1602603138736!1604203138986!1604203138736!1702603138
////////////////////
1!19017031371!2101203137
//
1!2101203137
/
96!1303403138
/
986!1:03503137
/
26!1301:03138
236!13023031386!1403703138
/
//
!Usfbtvsz!Opuf!5!Usfbtvsz!Cjmm!1!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Cjmm!1!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!2!Usfbtv
sz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5
//////////////////////
TTTTTTTTTTTTTTTTTTTTTT
//////////////////////
VSpzbm!Cbol!pg!Dbobeb!1VUpzpub!Npups!Dsfeju!Dpsq!1VVVGONB!2UFYBT!TUBUF!6VVVVVVVGIMC!5GGDC!5VGIMND!4VGGDC!4VVVVVVVV
VT!HPWUDQVT!HPWUDQVT!HPWUVT!HPWUVT!HPWUBHDZNVOJVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMBHDZVT!HPWUBHDZ!DBMMVT!HPWUBHDZVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWU
2302:036210330362202903621026035210340351903803514018035210280361:015036210190352103:0351:0350351601:0361302703516034036160250362303703616025036220150362301303622015036
:2393DIN78911:CI65:238:8SH59:344IIF8:239393B8:2393DMI3:2393DIZ14246H1R33993835SC6:238:8TB7:2393DKD7:23939V35:2393DKL9:2393DKQ8:2393DKU::23939\[894241C7DC14244FQ3U2:23939W:94245ICRQ::2393DLF14244FU6S5
:2393DFG5:2393DLK::2393DFO8:23939Y99:2393DLS2:2393DFU5:2393DOF8:2393DLW3
Bnpsuj{bujpo!boe!Bddsfujpo ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
994128681:512797149937:8113573:6693197
///////////////////
1
:-978-1:5:-:71-:695-811-58:6-112-7:85-:79-241:-:79-3845-:93-237:-:55-65:5-799-845:-::2-982:-961-733:-:88-889
25-:23-36725-:32-8762:-::5-11825-615-38725-:5:-72721-24:-617
511169
///
23*81*94*54*:2*95*25*:8*23*85*14*87*49*16*91*25*
////////////////
1
2-7:8
)6-::3)9-239
24:-617
)4:-152)98-854)89-345)42-97:)42-837)28-984)66-561)61-494)33-332
)243-:16)3::-631)5:6-834)422-376)25:-488
61418:68829684388637:8114716181847
/////////////////
77*41*
//
1
86
)952
5-:968-1695-2745-6372-8769-1552-327
64-38248-89141-54524-2:624-65:
)9-651
434-98:382-184251-798
61284571:3237129::53565879:4181847
/////////////////
36*41*
//
86
967
)325
5-:966-7:74-8984-7982-:966-65:2-:532-6749-1552-327
22-56552-34821-18466-5653:-521
)9-651
49114911491742248724111111996899992461
///////////////////
1
:-973-21::-:64-:115-487-7116-113-64:5-:48-7:6:-:66-1895-:88-711:-:42-1115-659-157:-::2-8:7:-953-689:-:87-673
25-969-:9525-994-:952:-:9:-95425-344-31425-:58-96221-259-157
73264:171643338162865662:5:999663421111:72763:29591537877
///////////////////
1
:9::::98:::9:::::5:::::1:::::9::
211212
11111111111111111111111111111111111111
///////////////////
1
6-111-1116-111-1116-111-1116-111-1116-111-111
21-111-11121-111-11126-111-11126-111-11121-111-11131-111-11126-111-11121-111-11126-111-11121-111-11121-111-11121-111-11121-111-111
86!1804203138486!1:02603138236!2202603138986!2204103138986!230420313836!12026031396!120420313986!130260313936!1704103139486!1:026031396!23026031391!120420313:236!190420313:6!1:0410313:
//////////////
6!1:01:031381!13034031391!1602:031391!1701:03139
////
86!2101903138
/
!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtv
sz!Opuf!4!Usfbtvsz!Opuf!4
//////////////
TTTTTTTTTTTTTT
//////////////
VGIMND!4VGONB!1VVVVVVGIMND!5GIMND!5GIMND!5VVVVVV
VT!HPWUBHDZ!DBMMVT!HPWUBHDZVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUBHDZ!DBMMBHDZ!DBMMBHDZ!DBMMVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWUVT!HPWU
230210361:01:03623018034210270352301803413024036160340361602:036170220362102603523033036210280362102803621028036
:2393DGC34245ICM77:2393DMM44246H16Z6:2393DMY8:2393DG\[::2393DHD::2393DNG6:2393DHI9:239394X94245ICRR84245ICSN64245ICWS::2393DDI3:2393DOZ4:2393DQQ1:2393DKX3:2393DGK6:2393DMO:
Bnpsuj{bujpo!boe!Bddsfujpo ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
111111111111111111111111111111111111111111111111111111111111
//////////////////////////////
:1-11151-736:7-361
498-611561-111811-111323-611:36-111361-111261-111248-611461-111311-111561-111214-861214-236298-611317-361448-611211-111267-361
6-111-1116-111-111
21-111-11121-111-11131-111-11151-111-11121-111-11131-111-11121-111-111
111111111111111111
/////////
6-111-1116-111-111
21-111-11121-111-11131-111-11151-111-11121-111-11131-111-11121-111-111
111111111111111111111111111111111111111111
/////////////////////
:1-11151-736:7-361
498-611561-111811-111323-611:36-111361-111261-111248-611461-111311-111561-111214-861214-236298-611317-361448-611211-111267-361
120170371202503712025037120260371202603712026037120260371202603712037037120370371203:0371203:0371301303713013037130130371301303713017037130170371301:0371301:037130230371302803713028037130280371302803
71302803713034037130340371303403714013037
1!1201703137
/
1!12025031371!1202503137
//
986!1202603137986!12026031376!18026031371!120260313836!12026031396!120420313886!18042031386!12042031391!120420313:6!190260313786!1302603139736!1302603137736!130260313736!1302603138236!190420313:
///////////////
96!13034031381!13034031391!1303403139
///
26!1301:0313826!1301:03138
736!1203703137736!12037031371!1203:031371!1203:031376!13017031376!1301703137236!1302303138
//
///////
!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!2!Usfbtv
sz!Opuf!2!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4
///////////////
TTTTTTTTTTTTTTT
///////////////
Upzpub!Npups!Dsfeju!Dpsq!1Fnpsz!Vojw!Ubybcmf!DQ!5Fnpsz!Vojw!Ubybcmf!DQ!5VVVVVGGDC!5GGDC!5GGDC!6GGDC!6VVVVGGDC!5GGDC!5GIMC!5GIMC!5GGDC!5VVVVVGIMND!4GIMND!5GIMND!5V
9:344IB723:268QFI43:268QFI4:2393DHF6:2393DHF6:2393DIN7:2393DKU::2393DNG64244FSNL54244FSNL54244FSDU74244FSDU7:23939\[89:2393DGC3:2393DHI9:2393DKX34244FSOK74244FSOK74241C7DC14241C7DC14244FQ3U2:239393B8
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Qspkfdufe!Dbti!Gmpxt ªIjmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou-!MMD/!Bmm!sjhiut!sftfswfe/
11111111111111111111111111111111111111111111111111111111111111
///////////////////////////////
:4-861:4-86129-86192-361
342-361286-111573-611217-361364-236364-236242-361298-611286-111223-611486-111226-736223-611386-111348-611211-111229-86191:-486448-61141:-486311-111
6-111-111
21-111-11131-111-11121-111-11121-111-11121-111-111
111111111111
//////
6-111-111
21-111-11131-111-11121-111-11121-111-11121-111-111
11111111111111111111111111111111111111111111111111
/////////////////////////
:4-861:4-86129-86192-361
342-361286-111573-611217-361364-236364-236242-361298-611286-111223-611486-111226-736223-611386-111348-611211-111229-86191:-486448-61141:-486311-111
1401303714016037140160371401:03714027037140270371402703714027037140290371403503714037037140420371404203715012037150190371502603715026037150260371502603715041037160190371601903716026037160260371602603
7160260371602603716026037160260371602:0371602:037
1!1402903137
/
86!1904203137736!1:0260313736!1402603138486!1:02603138486!1:026031396!14042031386!1:0410313:86!150260313786!1502603137736!21026031376!150260313886!1504103138736!1602603137736!16026031371!220260313748
6!1602603138736!22026031376!1602603138236!2202603138
///////////////////
1!2101203137
/
6!1:01:031381!1602:031391!1602:03139
///
986!1:0350313786!2101903138
//
736!1401603137736!14016031376!140370313886!160190313786!1601903137
/////
!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!4!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!3!Usfbtv
sz!Opuf!2!Usfbtvsz!Opuf!2!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!3!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5!Usfbtvsz!Opuf!5
///////////////////
TTTTTTTTTTTTTTTTTTT
///////////////////
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Qbhf!2
Nbslfu!Joejdbujpot!bt!pg!3;29!Q/N/!Dfousbm!Ujnf
EPXEpxo!.769!up!57-446!)IJHI;!61-299*
OBTEBREpxo!.35:!up!33-341!)IJHI;!34-:69*
T'Q!611!Epxo!.77!up!7-761!)IJHI;!7-:8:*
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3.Zs!U.opufdvssfou!zjfme!4/86&<!pqfojoh!zjfme!4/79&
4.Zs!U.opufdvssfou!zjfme!4/86&<!pqfojoh!zjfme!4/79&
6.Zs!U.opufdvssfou!zjfme!4/97&<!pqfojoh!zjfme!4/8:&
21.Zs!U.opufdvssfou!zjfme!5/37&<!pqfojoh!zjfme!5/31&
41.Zs!U.cpoedvssfou!zjfme!5/99&<!pqfojoh!zjfme!5/96&
Uif!qbqfs0dpnnfoubsz!xbt!qsfqbsfe!cz!Ijmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou!)ITBN*/!Ju!jt!joufoefe!gps!jogpsnbujpobm!qvsqptft!pomz!boe!epft!opu!dpotujuvuf!mfhbm!
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dibohf!xjuipvu!opujdf/!Uijt!qbqfs!sfqsftfout!ijtupsjdbm!jogpsnbujpo!pomz!boe!jt!opu!bo!joejdbujpo!pg!gvuvsf!qfsgpsnbodf/!Tpvsdft!bwbjmbcmf!vqpo!sfrvftu/
Ijmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou!jt!bo!TFD.sfhjtufsfe!jowftunfou!bewjtps/!Ijmmupq!Tfdvsjujft!Jod/!jt!b!sfhjtufsfe!csplfs.efbmfs-!sfhjtufsfe!jowftunfou!bewjtfs!boe!
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!3137!Ijmmupq!Tfdvsjujft!Jod/!}!Bmm!sjhiut!sftfswfe!}!NFNCFS;!OZTF0GJOSB0TJQD
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IjmmupqTfdvsjujft!Bttfu!Nbobhfnfou
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623/592/3123
hsfh/xbsofsAijmmupqtfdvsjujft/dpn
up!,4/5&!gspn!Kbovbszt!,3/:&!boe!fbtjmz!upqqfe!gpsfdbtut!gps!b!,4/1&!jodsfbtf/!Uif!
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IjmmupqTfdvsjujft!Bttfu!Nbobhfnfou
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Nbobhjoh!Ejsfdups
623/592/311:
qsjdft!esbnbujdbmmz!ijhifs!xijdi!xjmm!voepvcufemz!qvti!qspevdfs!qsjdft!vq!gvsuifs!jo!uif!
tdpuu/ndjouzsfAijmmupqtfdvsjujft/dpn!
npouit!up!dpnf/!
Nbuu!Ibssjt-!DGB
Qspevdfs!Qsjdf!Joefy!)Npoui.pwfs.Npoui!Qfsdfou!Dibohf*
IjmmupqTfdvsjujft!Bttfu!Nbobhfnfou
Tfojps!Qpsugpmjp!Bewjtps
PPI Final DemandPPI Core (Ex Food, Energy, & Trade)
Tfojps!Wjdf!Qsftjefou!
0.9%
623/451/2956
nbuu/ibssjtAijmmupqtfdvsjujft/dpn!
0.7%
0.5%
0.3%
0.1%
-0.1%
-0.3%
-0.5%
Feb-24May-24Aug-24Nov-24Feb-25May-25Aug-25Nov-25Feb-26
Tpvsdf;!Cvsfbv!pg!Mbcps!Tubujtujdt
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tufbn!xjui!mbshfs!npouimz!hbjot!gps!
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)qfstpobm!dpotvnqujpo!fyqfoejuvsft*-!upebzt!ebub!beet!up!uif!hspxjoh!npvoubjo!pg!
GPND!nffujoh/!Npsf!po!uibu!mbufs!upebz/
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4.Zs!U.opufdvssfou!zjfme!4/83&<!pqfojoh!zjfme!4/79&
6.Zs!U.opufdvssfou!zjfme!4/94&<!pqfojoh!zjfme!4/8:&
21.Zs!U.opufdvssfou!zjfme!5/34&<!pqfojoh!zjfme!5/31&
41.Zs!U.cpoedvssfou!zjfme!5/97&<!pqfojoh!zjfme!5/96&
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Ijmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou!jt!bo!TFD.sfhjtufsfe!jowftunfou!bewjtps/!Ijmmupq!Tfdvsjujft!Jod/!jt!b!sfhjtufsfe!csplfs.efbmfs-!sfhjtufsfe!jowftunfou!bewjtfs!boe!
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623/451/2956
nbuu/ibssjtAijmmupqtfdvsjujft/dpn!
nfbtvsf!gspn!fbsmjfs!jo!uif!zfbs/!Uif!sfwjtfe!R5!hspxui!nbslt!uif!tmpxftu!qbdf!jo!uisff!
rvbsufst!boe!qvmmt!gvmm!zfbs!3136!hspxui!epxo!up!3/2&!gspn!3/5&-!uif!xfblftu!tjodf!
Tdpuu!NdJouzsf-!DGB
3131/!Hpwfsonfou!tqfoejoh!dpoujovfe!up!xfjhi!po!uif!ifbemjof-!cvu!uif!cjhhfs!tupsz!
IjmmupqTfdvsjujft!Bttfu!Nbobhfnfou
xbt!b!nfbojohgvm!dppmjoh!jo!dpotvnqujpo/!Qfstpobm!dpotvnqujpo!xbt!sfwjtfe!epxo!
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Nbobhjoh!Ejsfdups
623/592/311:
HEQ!Opx!nfbtvsf!dvssfoumz!usbdljoh!3/8&-!uipvhi!uisff!xfflt!sfnbjo!jo!uif!rvbsufs-!
tdpuu/ndjouzsfAijmmupqtfdvsjujft/dpn!
qmfouz!pg!ujnf!gps!tijgujoh!ebub!boe!ofx!ifbemjoft/
Hsfh!Xbsofs-!DUQ
IjmmupqTfdvsjujft!Bttfu!Nbobhfnfou
uif!Gfet!qsfgfssfe!nfbtvsf-!ujdljoh!vq!up!4/2&!zfbs!pwfs!zfbs-!xfmm!bcpwf!uif!3&!ubshfu/!
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Nbobhjoh!Ejsfdups
623/592/3123
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dpsf*-!boe!uijt!ejwfshfodf!ibt!
Personal ConsumptionBusiness Fixed Investment
cffo!jodsfbtjohmz!xbudife!cz!
Residential InvestmentInventories
10%
nbslfut/
Net ExportsGovernment Spending
GDP
8%
6%
4.4%
3.8%
4%
3.3%
1.9%
2%
0.7%
-0.6%
0%
-2%
-4%
-6%
Q3-24Q4-24Q1-25Q2-25Q3-25Q4-25
Tpvsdf;!Cvsfbv!pg!Fdpopnjd!Bobmztjt
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Gfe!Dibjs!Qpxfmm!jt!fyqfdufe!up!
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Nbslfu!Joejdbujpot!bt!pg!22;65!B/N/!Dfousbm!Ujnf
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6.Zs!U.opufdvssfou!zjfme!4/98&<!pqfojoh!zjfme!4/97&
21.Zs!U.opufdvssfou!zjfme!5/39&<!pqfojoh!zjfme!5/37&
41.Zs!U.cpoedvssfou!zjfme!5/:2&<!pqfojoh!zjfme!5/99&
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qspevdu/!Jogpsnbujpo!qspwjefe!jo!uijt!qbqfs!xbt!pcubjofe!gspn!tpvsdft!uibu!bsf!cfmjfwfe!up!cf!sfmjbcmf<!ipxfwfs-!ju!jt!opu!hvbsbouffe!up!cf!
dpssfdu-!dpnqmfuf-!ps!dvssfou-!boe!jt!opu!joufoefe!up!jnqmz!ps!ftubcmjti!tuboebset!pg!dbsf!bqqmjdbcmf!up!boz!buupsofz!ps!bewjtps!jo!boz!qbsujdvmbs!
sfqsftfout!ijtupsjdbm!jogpsnbujpo!pomz!boe!jt!opu!bo!joejdbujpo!pg!gvuvsf!qfsgpsnbodf/!Tpvsdft!bwbjmbcmf!vqpo!sfrvftu/
Ijmmupq!Tfdvsjujft!Bttfu!Nbobhfnfou!jt!bo!TFD.sfhjtufsfe!jowftunfou!bewjtps/!Ijmmupq!Tfdvsjujft!Jod/!jt!b!sfhjtufsfe!csplfs.efbmfs-!sfhjtufsfe!
Ipmejoht-!Jod/!)OZTF;!IUI*!mpdbufe!bu!828!O/!Ibsxppe!Tu/-!Tvjuf!4511-!Ebmmbt-!Ufybt!86312-!)325*!96:.2911-!944.5IJMMUPQ/
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ВЉЋЉ Ώ tğŭĻ Њ
68000
$68,000.00
Extended
CĻĻ ğźǝĻķLƓĭƌǒķĻķ źƓ aƚƓƷŷƌǤ CĻĻ
ЉЉ
17000
Unit
Asset Management, LLC
Total Price
Hilltop Securities Southwest
MONTHLY
QUARTERLYQUARTERLY
UOM
4 Ѝ
ЊЋ
QTY
Exhibit CDescription Advisory ServicesMonthly Reporting (included in Advisory Services)Quarterly Reporting (included in Advisory Services)
Exhibit D
INSURANCE REQUIREMENTS
Respondents attention is directed to the insurance requirements below. It is highly
recommended that respondents confer with their respective insurance carriers or
brokers to determine in advance of Proposal/Bid submission the availability of insurance
certificates and endorsements as prescribed and provided herein. If an apparent low
respondent fails to comply strictly with the insurance requirements, that respondent may
be disqualified from award of the contract. Upon contract award, all insurance
requirements shall become contractual obligations, which the successful contractor
shall have a duty to maintain throughout the course of this contract.
STANDARD PROVISIONS:
Without limiting any of the other obligations or liabilities of the
Contractor, the Contractor shall provide and maintain until the contracted work
has been completed and accepted by the City of Denton, Owner, the minimum
insurance coverage as indicated hereinafter.
As soon as practicable after notification of contract award, Contractor shall file
with the Purchasing Department satisfactory certificates of insurance including
any applicable addendum or endorsements, containing the contract number and
title of the project. Contractor may, upon written request to the Purchasing
Department, ask for clarification of any insurance requirements at any time;
however, Contractors are strongly advised to make such requests prior to
proposal/bid opening, since the insurance requirements may not be modified
or waived after proposal/bid opening unless a written exception has been
submitted with the proposal/bid. Contractor shall not commence any work
or deliver any material until he or she receives notification that the contract has
been accepted, approved, and signed by the City of Denton.
All insurance policies proposed or obtained in satisfaction of these requirements
shall comply with the following general specifications, and shall be maintained in
compliance with these general specifications throughout the duration of the
Contract, or longer, if so noted:
Each policy shall be issued by a company authorized to do business in the
State of
Texas with an A.M. Best Company rating of at least A- or better.
Any deductibles or self-insured retentions shall be declared in the proposal. If
requested by the City, the insurer shall reduce or eliminate such deductibles or
self-insured retentions with respect to the City, its officials, agents, employees
and volunteers; or, the contractor shall procure a bond guaranteeing payment of
losses and related investigations, claim administration and defense expenses.
Liability policies shall be endorsed to provide the following:
Investment Advisory Services 9020
o Name as Additional Insured the City of Denton, its Officials, Agents,
Employees and volunteers.
o That such insurance is primary to any other insurance available to the
Additional Insured with respect to claims covered under the policy and that
this insurance applies separately to each insured against whom claim is
made or suit is brought. The inclusion of more than one insured shall not
operate to increase the insurer's limit of liability.
o Provide a Waiver of Subrogation in favor of the City of Denton, its
officials, agents, employees, and volunteers.
Cancellation: City requires 30 day written notice should any of the
policies described on the certificate be cancelled or materially changed
before the expiration date.
Should any of the required insurance be provided under a claims made form,
Contractor shall maintain such coverage continuously throughout the term of this
contract and, without lapse, for a period of three years beyond the contract
expiration, such that occurrences arising during the contract term which give rise
to claims made after expiration of the contract shall be covered.
Should any of the required insurance be provided under a form of coverage that
includes a general annual aggregate limit providing for claims investigation or legal
defense costs to be included in the general annual aggregate limit, the
Contractor shall either double the occurrence limits or obtain Owners and
Contractors Protective Liability Insurance.
Should any required insurance lapse during the contract term, requests for
payments originating after such lapse shall not be processed until the City
receives satisfactory evidence of reinstated coverage as required by this
contract, effective as of the lapse date. If insurance is not reinstated, City may,
at its sole option, terminate this agreement effective on the date of the lapse.
SPECIFIC ADDITIONAL INSURANCE REQUIREMENTS:
All insurance policies proposed or obtained in satisfaction of this Contract shall
additionally comply with the following specifications, and shall be maintained in
compliance with these additional specifications throughout the duration of the
Contract, or longer, if so noted:
A. COMMERCIAL GENERAL LIABILITY INSURANCE
Commercial General Liability Insurance including, but not limited to,
Premises/Operations, Personal & Advertising Injury, Products/Completed
Investment Advisory Services 9020
Operations, Independent Contractors, and Contractual Liability with minimum
combined bodily injury (including death) and property damage limits of
$1,000,000.00 per occurrence and $2,000,000.00 general aggregate.
B. PROFESSIONAL LIABILITY INSURANCE
IfCONTRACTOR is a licensed or certified person who renders professional
services, then Professional Liability Insurance to provide coverage against
any claim which the CONTRACTOR becomes legally obligated to pay as
damages arising out of the performance of professional services caused by
any negligent error, omission or act with minimum limits of $1,000,000.00
per claim, $2,000,000.00 annual aggregate.
SUBCONTRACTING LIABILITY
(1) Without limiting any of the other obligations or liabilities of the CONTRACTOR,
the CONTRACTOR shall require each Subcontractor performing work under the
contract, at the Subcontractor's own expense, to maintain during the engagement
with the CITY, types and limits of insurance that are appropriate for the
services/work being performed, comply with all applicable laws and are consistent
CONTRACTOR as an additional insured.
(2) CONTRACTOR shall obtain and monitor the certificates of insurance from each
Subcontractor. CONTRACTOR must retain the certificates of insurance for the
duration of the contract and shall have the responsibility of enforcing insurance
requirements among its subcontractors. The CITY shall be entitled, upon request
and without expense, to receive copies of these certificates.
Investment Advisory Services 9020
Hilltop Securities Asset Management, LLC
N/A
March 25, 2026
Certificate Of Completion
Envelope Id: 8A4773D8-1844-4BDF-8EAE-1D71CFA85087Status: Sent
Subject: Please DocuSign: City Council Contract 9020 Investment Advisory Services
Source Envelope:
Document Pages: 113Signatures: 3Envelope Originator:
Certificate Pages: 6Initials: 1Christina Dormady
AutoNav: Enabled901B Texas Street
EnvelopeId Stamping: EnabledDenton, TX 76209
Time Zone: (UTC-06:00) Central Time (US & Canada)christina.dormady@cityofdenton.com
IP Address: 198.49.140.10
Record Tracking
Status: OriginalHolder: Christina DormadyLocation: DocuSign
5/14/2026 4:41:51 PM christina.dormady@cityofdenton.com
Signer EventsSignatureTimestamp
Christina DormadySent: 5/14/2026 4:47:35 PM
Completed
christina.dormady@cityofdenton.comViewed: 5/14/2026 4:47:43 PM
BuyerSigned: 5/14/2026 4:49:54 PM
Using IP Address: 198.49.140.10
City of Denton
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Lori HewellSent: 5/14/2026 4:49:57 PM
lori.hewell@cityofdenton.comViewed: 5/14/2026 4:50:52 PM
Purchasing ManagerSigned: 5/14/2026 4:51:05 PM
City of Denton
Signature Adoption: Pre-selected Style
Security Level: Email, Account Authentication
Using IP Address: 198.49.140.10
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Leah BushSent: 5/14/2026 4:51:08 PM
leah.bush@cityofdenton.comViewed: 5/15/2026 3:15:51 PM
Assistant City AttorneySigned: 5/15/2026 3:31:58 PM
Security Level: Email, Account Authentication
Signature Adoption: Pre-selected Style
(None)
Using IP Address: 198.49.140.104
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Scott McIntyreSent: 5/15/2026 3:32:01 PM
scott.mcintyre@hilltopsecurities.comViewed: 5/15/2026 3:44:12 PM
Managing DirectorSigned: 5/15/2026 3:48:50 PM
Security Level: Email, Account Authentication
Signature Adoption: Pre-selected Style
(None)
Using IP Address: 151.186.191.22
Electronic Record and Signature Disclosure:
Accepted: 5/15/2026 3:44:12 PM
ID: 88b62dec-4ead-4690-a298-6f3b673921c4
Signer EventsSignatureTimestamp
Matt HamiltonSent: 5/15/2026 3:48:53 PM
matthew.hamilton@cityofdenton.comViewed: 5/15/2026 4:14:39 PM
Chief Financial OfficerSigned: 5/15/2026 4:15:16 PM
City of Denton
Signature Adoption: Uploaded Signature Image
Security Level: Email, Account Authentication
Using IP Address: 47.185.138.128
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Cheyenne DefeeSent: 5/15/2026 4:15:19 PM
cheyenne.defee@cityofdenton.com
Procurement Administration Supervisor
City of Denton
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Cassey Ogden
Cassey.Ogden@cityofdenton.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Kristi Folge
Kristi.folge@cityofdenton.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
In Person Signer EventsSignatureTimestamp
Editor Delivery EventsStatusTimestamp
Agent Delivery EventsStatusTimestamp
Intermediary Delivery EventsStatusTimestamp
Certified Delivery EventsStatusTimestamp
Carbon Copy EventsStatusTimestamp
Cheyenne DefeeSent: 5/14/2026 4:49:56 PM
cheyenne.defee@cityofdenton.com
Procurement Administration Supervisor
City of Denton
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Gretna JonesSent: 5/15/2026 4:15:19 PM
gretna.jones@cityofdenton.comViewed: 5/18/2026 10:57:50 AM
Legal Secretary
City of Denton
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Carbon Copy EventsStatusTimestamp
Not Offered via Docusign
City Secretary Office
citysecretary@cityofdenton.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Randee Klingele
Randee.klingele@cityofdenton.com
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Witness EventsSignatureTimestamp
Notary EventsSignatureTimestamp
Envelope Summary EventsStatusTimestamps
Envelope SentHashed/Encrypted5/14/2026 4:47:35 PM
Payment EventsStatusTimestamps
Electronic Record and Signature Disclosure
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