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<br />PARTICIPATION AGREEMENT <br />BETWEEN <br />BA MERCHANT SERVICES and BANK OF AMERICA, N.A. <br />AND <br />ENTITY <br /> <br />This Participation Agreement is entered into between BA Merchant Services LLC, an Ohio limited <br />liability corporation and Bank of America, N.A. (together "Contractor") and City of Sunny Isles Beach, an <br />Agency or Unit of Local Government as defined in the Electronic Payments Receipt System Provider <br />Contract effective January 1, 2007 ("Contract") and (hereinafter known as the "Entity"). <br /> <br />I. PARTICIPATION TERMS AND CONDITIONS <br /> <br />A. By signing this Participation Agreement, the Entity and the Contractor agree to be bound by the <br />terms of this Participation Agreement and the Electronic Payments Receipt System Provider <br />Contract between the Contractor and the State of Florida (the "Contract") in the performance of their <br />obligations. The terms of the Contract between the State of Florida (the "State") and the Contractor, <br />including the Card Organizations operating regulations, take precedence over this Participation <br />Agreement. <br /> <br />B. By signing this Participation Agreement, the Entity agrees to be bound by the terms of the Merchant <br />Card Services Agreement Terms and Conditions dated 1/2003 and as modified from time to time <br />("Terms and Conditions"). Entity is referred to as "Merchant" in the Terms and Conditions. The <br />standard form Terms and Conditions booklet is modified as provided in Section IV below. <br /> <br />C. The Entity will retain copies of Sales Slips, Credit Slips and other related documents for no less than <br />three (3) years from the transaction date. <br /> <br />II. FEES TO BE PAID TO THE CONTRACTOR <br /> <br />A. The Entity agrees to pay the Contractor a discount rate or transaction fee based on the fee schedule in <br />Attachment I of the Contract. <br /> <br />B. Such fees will be debited monthly from the Entity's Deposit Account or billed to the Entity via an <br />invoice process. <br /> <br />III. EFFECTIVE DATE AND TERMINATION <br /> <br />A. This Participation Agreement will become effective on the date it is signed by both parties. <br /> <br />B. This Participation Agreement remains in full force and effect until terminated as provided in this <br />section or until the Contract is terminated. <br /> <br />C. Either party may terminate this Participation Agreement at any time by giving the other thirty (30) <br />days prior written notice. <br /> <br />D. In the event of non-payment of an invoice for forty-five (45) days or more, Contractor may cease <br />processing after fifteen (15) days prior written notice to Participant. <br /> <br />E. Notwithstanding any foregoing subsection, Provider may terminate this Participation Agreement <br />effective immediately, followed by written notice, as required by applicable federal law or card <br />organization operating regulations. <br /> <br />I 189553/v7 <br />