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r Susan lvfusselman, Director <br />r Duncan Brorvn, Senior lt{anaging Consul.tant <br />2. Chnnges in Staff Requested by the Client <br />The Client has the right to reguest, for any reason, PFIrf to replace any member of the <br />advisory team. Should dre Client make sucir a request, PFtvl shall prornptly suggest a substirute for <br />approval by the Client. <br />X. INSURANCE <br />PFM shall rnaintain insurance coverage widr policv ijmits not less than as stated in Exhibit C. <br />XI. LIMITATION OF LIABILITY <br />Except to the extent caused by ivillful misconduct, bnd faith, goss negligence or reckless <br />disregard of obligations or duties under this Agreement on d.!e part of PFNI or any of its associated <br />persons, neither PFM nor any of its associated persons shall have liabiliry to any person for any act <br />or omission in connection rvith performance of its services hereunder, or for any errot of judgment <br />or mistake of law, or for any loss arising out of any issuance of municipal secudties, any municipal <br />6nancial product or any other financiai product or investment, or for any lnancial or other damages <br />resulting from Client's elecrion to act or not to act, as tl:e case may be, conkary to or, absent <br />negligence on rhe Part of PF\{ or lny of its associated persons, upon any advice or recommendation <br />pror,'ided by PFIr{ to Clienr. <br />XII. INDEPENDENT CONTRACTOR; NO THIRD.PARTY BENEFICIARY <br />PFlvI, its employees, of8cers and representntives at all times shall be independeot contractors <br />and shall not be deemed to be emplol'ees, ngents, pfitners, servatlts and/or loint venturers of Client <br />by virnre of rh.is Agteement or any aclions or services rendered under rhis Agreement. Nothing in <br />this Agreement is intended or shall be construed to give any person, other than the Parries hereto, <br />their successots and permitted rssigns, any legal or equitable rights, remedy or clairn under or in <br />respect of dris r\greement or ant' p:ovisions conrrdned herein. <br />XIII. APPLICABLE LA\T/ <br />This Agreement shall be construed, enforced, and administered according to the larvs of rhe <br />State of Washington, PFIvI and the Client agree that, should a disagreement arise as to the terrns or <br />etrforcement of anv pror-ision of this Agreement, each parry rvill in good faith attempt ro resolve <br />said disagteement prior to pursuing other acdon. <br />XTV. ENTIRE AGREEMENT; SEVERABILITY <br />This Agreement represents the endre agreement benveen Client and PfrNI and may not be <br />amended or modi8ed except in rwiting signed by both parties. The invalidi4 in rvhole or in parr of <br />any provision of this r\greement sl'rall nor void or affect the validity of any other pror.ision. <br />+