The source text indicates this attachment appears to be a draft document.
The document outlines recommendations for agreements with Mirastar Federal Credit Union regarding ATM services and mini-branch banking. It includes a proposed Facility Use License Agreement for ATM services and a First Amendment to the Lease Agreement for mini-branch banking services, both of which have been reviewed by County Counsel. The agreements aim to enhance public access to banking services and are expected to positively impact the General Fund. The document also discusses the history of contracts with Mirastar Federal Credit Union and the reasons for the proposed actions.
Key points
Recommendations include a Facility Use License Agreement for ATM services and a First Amendment to the Lease Agreement for mini-branch banking.
The proposed ATM services agreement is for a term from June 23, 2026, to June 22, 2031, with a five-year extension option.
The First Amendment to the Lease Agreement increases revenue and extends the agreement for mini-branch banking services through April 30, 2031.
The agreements are expected to generate a total positive impact of $402,780 to the General Fund.
The document outlines the history of previous agreements with Mirastar Federal Credit Union.
The recommended actions aim to improve public access to banking services and support sustainability efforts.
Limitations
The document appears to be a draft as it includes placeholders and lacks finalized details in some sections.
Specific dates and amounts are mentioned but are not confirmed as final.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 8,796 chars
County of Santa Clara Facilities and Fleet Department 129225 D DATE: June 23, 2026 TO: Board of Supervisors FROM: Jeffrey D Draper, Director, Facilities and Fleet SUBJECT: Mirastar Federal Credit Union Mini Branch and ATMs RECOMMENDED ACTION Consider recommendations relating to Mirastar Federal Credit Union mini-branch banking and Automated Teller Machine (ATM) services. (LA) Possible action: a. Approve Facility Use License Agreement with Mirastar Federal Credit Union relating to providing ATM services in an amount not to exceed $315,000 for period June 23, 2026 through June 22, 2031, with one five-year extension option, that has been reviewed and approved by County Counsel as to form and legality. b. Approve retroactive First Amendment to Lease Agreement with Mirastar Federal Credit Union relating to providing mini-branch banking services, increasing the maximum revenue amount by $31,620 from $56,160 to $87,780, and extending the agreement for a 60-month period through April 30, 2031, with one five-year extension option, that has been reviewed and approved by County Counsel as to form and legality. c. Approve delegation of authority to the County Executive, or designee, to...
This Facility Use License Agreement is between the County of Santa Clara and Mirastar Federal Credit Union, allowing the credit union to operate Automated Teller Machines (ATMs) on specified County properties. The agreement extends the previous license arrangement for five years, with an option for an additional five years, and includes the installation of an additional ATM location. The Licensee agrees to pay a monthly fee for the use of the Licensed Areas and must comply with various operational and legal requirements. The agreement outlines terms for termination, insurance, indemnity, and other operational requirements.
Key points
The agreement is between the County of Santa Clara and Mirastar Federal Credit Union.
It allows the operation of ATMs on specified County properties.
The term is five years with an option to extend for another five years.
The Licensee must pay a monthly fee of $750 per Licensed Area.
The agreement includes provisions for compliance with laws and regulations.
Limitations
The text appears to be truncated, missing some sections and details.
Specific dates, votes, dollar amounts, and outcomes are not provided.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 51,440 chars
FACILITY USE LICENSE AGREEMENT BY AND BETWEEN THE COUNTY OF SANTA CLARA AND THE MIRASTAR FEDERAL CREDIT UNION This Facility Use License Agreement ("Agreement") is entered into as of date of the last signature set forth on the signature page(s) to this Agreement (the "Effective Date") by and between the County of Santa Clara, a political subdivision of the State of California (used interchangeably, "County" or "Licensor") and Mirastar Federal Credit Union, a federally chartered and federally insured credit union, formerly known as Santa Clara County Federal Credit Union ("Licensee"). Individually, County and Licensee are each a “party,” and collectively are “parties,” to this Agreement, as referred to herein. RECITALS WHEREAS, the County and Licensee are parties to a Facility Use License Agreement dated June 1, 2014, as amended July 29, 2016 (“Original License Agreement”), pursuant to which the County has permitted Licensee to establish eight (8) Automated Teller Machines ("ATM") on County property at various locations; WHEREAS, the Original License Agreement expired on June 30, 2024 and has been in holdover status since that...
03
197 KB
Mirastar 70 W. Hedding Mini Branch First Amendment 6.2026 v1
This document is a First Amendment to the Lease Agreement between the County of Santa Clara and Mirastar Federal Credit Union. It amends the original Lease Agreement from May 10, 2016, to extend the lease term for an additional sixty months, beginning May 1, 2026, and expiring on April 30, 2031. The amendment also establishes a new Base Rent of $1,463 per month for the Extended Term. The document outlines the authority of the signatories and the agreement's execution in counterparts, including provisions for electronic signatures.
Key points
The First Amendment extends the lease term for an additional sixty months.
The new lease term begins on May 1, 2026, and ends on April 30, 2031.
The Base Rent for the Extended Term is set at $1,463 per month.
The document includes provisions for electronic signatures and execution in counterparts.
Limitations
The document does not specify the original Base Rent or other financial terms prior to the amendment.
There are unresolved placeholders for signatures and dates that are not filled in.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 6,291 chars
Docusign Envelope ID: 93157D08-B756-8489-82B4-8792024BC7B8 FIRST AMENDMENT TO LEASE AGREEMENT BETWEEN THE COUNTY OF SANTA CLARA AND MIRASTAR FEDERAL CREDIT UNION This First Amendment (“First Amendment") by and between the County of Santa Clara, a political subdivision of the State of California (“County” or “Lessor”) and Mirastar Federal Credit Union, formerly Santa Clara County Federal Credit Union (“Lessee”), amends that certain Lease Agreement entered into by and between the County and Lessee on May 10, 2016 (“Lease Agreement”). As referenced herein, County and Lessee are each a “Party” and collectively the “Parties” to this First Amendment. RECITALS WHEREAS, pursuant to the Lease Agreement, Lessee leases from the County a portion of 70 W. Hedding Street, San Jose, California for purposes of designing, constructing, managing, operating and maintaining a credit union mini branch; WHEREAS, the Lease Agreement Term expired on April 30, 2026; and WHEREAS, County and Lessee desire to amend the Lease Agreement to extend the Term for an additional sixty (60) months (the “Extended Term”), beginning May 1, 2026, with an expiration date of April 30, 2031, and to establish a new Base...