Orange County NC Website
Section 11 . 11 . Applicable Law. This Agreement sham <br /> be governed by and construed in accordance with the laws cf <br /> the State . <br /> Section 11 . 12 . No Charge Against Authority Credit. No <br /> provision hereof shall be construed to impose a charge <br /> against the general credit of the Authority or any personal <br /> or pecuniary liability upon any member , officer , agent or <br /> employee of the Authority. <br /> Section 11 . 13 . Authority Not Liable. Notwithstanding <br /> any other provision of this Agreement (a) the Authority <br /> shall not be liable to the Company, the Depositary, the <br /> Purchaser or the Holder or any other person for any failure <br /> of the Authority to take action under any of the Bond <br /> Documents unless the Authority ( i) is requested in writing <br /> by an appropriate person to take such action, ( ii ) is <br /> assured of payment of or reimbursement for any expenses in <br /> such action, and ( iii) is afforded, under the existing <br /> circumstances, a reasonable period to take such action, and <br /> (b) except with respect to any action for specific perfor- <br /> mance or any action in the nature of a prohibitory or <br /> mandatory injunction, neither the Authority nor any member <br /> of the Authority nor any other officer , agent or employee of <br /> the Authority shall be liable to the Company, the Deposi- <br /> tary, the Purchaser or the Holder or any other person for <br /> any action taken by the Authority or by its members, <br /> officers, agents or employees, or for any failure to take <br /> action under any of the Bond Documents. In acting under the <br /> Bond Documents, or in refraining from acting under the Bond <br /> Documents, the Authority may conclusively rely on the advice <br /> of its counsel. <br /> Section 11.14 . Amounts Remaining with the Depositary_ <br /> or the Holder. Any amounts remaining in the Project Fund or <br /> otherwise in trust with the Depositary or the Holder under <br /> the Bond Documents shall, after Payment of the Bond and <br /> payment of all Administrative Expenses in accordance with <br /> this Agreement, belong to and be paid to the Company by the <br /> Depositary or the Holder, as the case may be. <br /> 35 . <br />