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Agenda - 03-02-2006-8bTA
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Agenda - 03-02-2006-8bTA
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Last modified
9/2/2008 1:38:17 AM
Creation date
8/29/2008 9:13:06 AM
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BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bTA
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Minutes - 20060302
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\Board of County Commissioners\Minutes - Approved\2000's\2006
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(b) Nat later than August 1 of each year, the Trustee will notify the LGC <br />of the principal amount of Certificates outstanding as of the preceding Tune 30. <br />(c} Except during the continuance of an E~rent of Default: <br />(i) the Trustee need perform only those duties that are specifically <br />set forth in this Trust Agreement and no other; and <br />(ii) in the absence of bad faith on its part, the Trustee may <br />conclusively rely, as to the truth of the statements and the correctness of the <br />opinions expressed, upon certificates or opinions furnislled to the Trustee <br />and conforming to the requirements of this Tnist Agreement which the <br />Trustee actually a11d in good faith believes to be genuine and to have been <br />signed or presented by the proper person. The Trustee, however, 111L1st <br />examine the certificates and opinions to determine whether they conform to <br />the requirements of this Trust Agreement. <br />(d) The Trustee may not be relieved from liability for its Dorn negligent <br />action, its own negligent failure to act or its own u.•illful misconduct, except that: <br />(i) this paragraph does not limit the effect of subsection (a} above; <br />(ii) the Trustee will not be liable with respect to any action it takes <br />or omits to take in good faith in accordance with a direction received by it <br />pursuant to Section 8.05; and <br />(iii} no provision of this Trust Agreement requires the Trustee to <br />expend or risk its own funds or otherwise incur any financial liability in the <br />performance of any of its duties hereunder or in the exercise of any of its <br />rights or powers, if it has reasonable grounds for believing that repayment of <br />such fiends or adequate indemnity against such risk or liability is 11at <br />reasonably assured to it. <br />(e) Every provision of this Trust Agreement that in any way relates to the <br />Trustee is subject to all the provisions of this Sectian 9.01. <br />(f} The Trustee may refuse to perform any duty or exercise any right or <br />power unless it receives indemnity satisfactory to it against any loss, liability or <br />expense, but the Trustee may not require indemnity as a condition to declaring the <br />principal and interest with respect to the Certificates to be due immediately under <br />Sectian 8.02. No permissive right of the Trustee shall be construed as a duty. <br />J3862v2 ~'] <br />
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