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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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(g) The Trustee will not be liable for interest on any cash held by it except <br />as the Trustee may agree with the County. <br />(h) The Trustee ti~rill not be liable for any action it takes or omits to take in <br />good faith in reliance on advice from counsel as to legal matters. <br />(i) The Trustee may act through agents or co-trustees and will not be <br />responsible far the misconduct or negligence of any agent or co-trustee appointed <br />with due care. <br />(j) If an event occurs which with the giving of notice or lapse of time <br />would be an Event of Default, and if the event is continuing and if it is known to <br />the Trustee, the Trustee will so notify the Owners and the LGC uTithin 15 days <br />after such becomes known to the Trustee. Except in the case of a default in <br />payment on any Certificates, the Trustee may withhold such notice from Owners <br />(but not from the LGC) if and so long as it in good faith determines that <br />withholding the notice is in the interest of Owners. <br />(k) At any and all reasonable times, the Trustee and its agents will have <br />the right to inspect the Project Sites, the Financed Facilities and all books and <br />records of the Company or of the County related thereto. Notwithstanding anything <br />in this Tnist Agreement to the contrary, the Trustee and its agents will have the <br />right to require such additional evidence, certificates or Opinions of Counsel as the <br />Trustee may deem appropriate to establish the County's right to the withdrawal of <br />any funds held hereunder or to require the Trustee's taking of any other action <br />hereunder. <br />(1) The Trustee shall not be liable for any debts contracted or for <br />damages to persons or to property injured or damaged, or for salaries or <br />nonfulfillment of contracts, relating to the Financed Facilities. <br />(m) The Trustee shall have no duty to inspect or oversee the construction <br />or completion of the Financed Facilities. <br />(n) In any judicial proceeding to which the Company or the County is a <br />party and ~~rhich in the Trustee's opinion has a substantial bearing on the interests <br />of Owners, the Trustee may intervene on the Owners' behalf, and ~~Jill do so if <br />requested in ~Triting by the Owners of a majority in aggregate principal amount of <br />Certificates then Outstanding or the Insurer and the Trustee ti~rill have a lien <br />therefor on any and all funds any time held by it under this Tnist Agreement. <br />Section 9.02. Trustee's Individual Rights. The Trustee in its individual or <br />any other capacity may become the O~~Jner or pledgee of Certificates and may <br />J3362v2 28 <br />
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