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contract with the Bank. The term "Subcontractor"means Subcontractor(s) of any <br /> tier. <br /> 6. APPOINTMENT OF CUSTODIAN <br /> The Agency, in accordance with RCW 43.08.015, hereby appoints the Bank as <br /> Custodian for certain assets of the Agency and authorizes the Bank to hold such <br /> assets in registered form in its name or the name of its nominees. All property <br /> delivered to the Bank,its agents,or Subcustodians, shall be held and dealt with as <br /> herein provided. The Bank hereby accepts this appointment. <br /> 7. PERSONAL LIABILITY <br /> It is agreed by and between the parties hereto that in no event shall any official, <br /> officer, employee, or agent of the Agency be in any way personally liable or <br /> responsible for any covenant or agreement herein contained, whether expressed or <br /> implied, nor for any statement or representation made herein or in any connection <br /> with this Agreement. <br /> 8. LIABILITY AND HOLD HARMLESS <br /> 8.1 The Bank shall be liable to the Agency for any direct money damages that <br /> are caused by the Bank's own negligence, fraud, or failure to exercise Due <br /> Care as defined in Section 30, in the Bank's performance of its duties <br /> under this Agreement. For the purposes of this Agreement, direct money <br /> damages shall include, but not be limited to, those situations where <br /> interest charges are incurred by the Agency or any loss of earnings occurs <br /> that would otherwise have been realized by the Agency through an <br /> overnight investment of funds, and where such interest charges or loss of <br /> earnings are caused by the Bank's own negligence, fraud, or failure to <br /> exercise Due Care,asdefined in Section 30. In no event shall the Bank be <br /> liable to the Agency or any third party for special, indirect or <br /> consequential damages, or lost profits or loss of business, arising in <br /> connection with this Agreement. <br /> 8.2 Each party to this Agreement agrees to hold harmless the other party, to <br /> the extent authorized by law,from all losses(excluding attorneys' fees and <br /> expenses)which relate to or result from lawsuits brought by non-parties to <br /> this Agreement from activities covered by this Agreement from: <br /> 8.2.1 A failure by a party or its subsidiaries, affiliates, agents, <br /> Subcontractors, representatives, or employees to comply with any <br /> applicable federal,state,or local law,rule, or regulation; <br /> Statewide Custody Provider Program <br /> Agreement for Custody Services 3 <br />