Spanish to English Law/Patents Law: Contract(s)

Hello all,

I'm translating a partnership agreement between a Spanish university and a religious order that esetablishes the terms under which a new masters in religious studies will be formed. I have encountered a sentence whose meaning in the original Spanish is very unclear to me. Here is the full clause in the contract:

"Cada parte deberá designar, gestionar y proporcionar por su cuenta y cargo los medios personales tanto docentes como administrativos y de apoyo técnico precisos para la impartición de las materias y seguimiento de los estudiantes, así como la asunción de los servicios que sean de su respectiva competencia, de acuerdo a la Memoria recogida en el Anexo l."

The line "así como la asunción de los servicios que sean de su respectiva competencia" is giving me a lot of trouble. I'm not sure what the "assumption of services" would mean. Is servicio here being used in the sense of staff? Am I missing a sense of "asunción" that would make this make sense?

Here is my attempt, but I have a feeling that it will need to be restructured once I get clarification on the meaning of that phrase:

"Each party must designate, manage, and provide at its own expense the teaching, administrative, and technical support personnel necessary for the teaching of courses and monitoring of students, as well as the assumption of the services that are their respective responsibility, in accordance with the Report included in Annex I."

Thank you for your time!

Nick