MEMORANDUM OF ASSUMPTIONDocuSign Envelope ID: 450D7A4E-E3C5-419D-9FF4-3A05E36A4D58
MEMORANDUM OF ASSUMPTION
This Memorandum of Assumption ("this Memorandum") is entered between City of
Clearwater ("Client"), on the one hand, and Resources Investment Advisors, LLC ("RIA"), and Ronald
A. Letaw, W. Michael Montgomery and James Battmer, investment adviser representatives of RIA
("Adviser Representatives"), as of this 1st day of July, 2020 ("Effective Date").
Recitals
WHEREAS Adviser Representatives desire to provide certain investment advisory and/or
consulting services ("the Services") to Client pursuant to the following agreement(s) with Independent
Financial Partners ("IFP"): Retirement Plan Advisory and Consulting Agreement ("IFP Agreement");
and
WHEREAS Adviser Representatives are registered as investment adviser representatives of
RIA and wish to provide the Services promised under the 1FP Agreement through their registration
with RIA; and
WHEREAS RIA is willing to assume responsibility for the Adviser Representatives' provision
of the Services to Client pursuant to the terms and conditions contained in the IFP Agreement; and
WHEREAS Client is willing to accept RIA's assumption of responsibility for the Adviser
Representatives' provision of the Services to RIA under the same terms and conditions contained in the
IFP Agreement;
NOW, WHEREFORE, the parties hereby agree as follows:
Agreement
1. Continuing Provision of the Services by Adviser Representatives. Adviser
Representatives hereby agree to provide the Services pursuant to the same terms and conditions as
contained in the IFP Agreement.
2. Assumption of Responsibility by RIA. As of the Effective Date, RIA hereby agrees to
assume all duties assigned to IFP under the IFP Agreement, including without limitation, the
assumption of responsibility for Adviser Representatives' provision of the Services. RIA also offers, on
its own behalf, all of the same representations made to Client by IFP, including without limitation, the
representation regarding its fiduciary status, and will provide client with its ADV brochure following
the Effective Date.
3. Acceptance of Transfer by Client. Client hereby agrees to accept RIA's assumption of
responsibility and the representations made to it under this Memorandum and agrees the terms and
conditions outlined in the IFP Agreement, as modified by this Memorandum, shall govern the
relationship between the parties as of the Effective Date.
DocuSign Envelope ID: 450D7A4E-E3C5-419D-9FF4-3A05E36A4D58
By their signatures, below, the parties hereby signify their agreement to this Memorandum.
Ronald A. Letaw W. Michael Montgomery
and James Battmer ("Adviser
Representatives")
Countersigned:
Frank Hibbard
Mayor
Approved as to form:
C
Owen Kohler
Assistant City Attorney
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Resources Investment Advisors, LLC
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CITY OF CLEARWATER, FLORIDA
William B. Horne, II
City Manager
Attest:
Rosemarie Call
City Clerk