Orange County NC Website
interest with respect to the Bonds to be due immediately under Section 10.02. No <br /> permissive right of the Trustee should be construed as a duty. <br /> (g) The Trustee is not liable for interest on any cash held by it except as <br /> the Trustee may agree with the County in writing. <br /> (h) If a Default is continuing and is known to the Trustee, then the Trustee <br /> must notify the Owners and the LGC within 15 days after the Default becomes <br /> known to the Trustee. The Trustee, however, will only be deemed to have <br /> knowledge of (i) defaults in payment as described in Sections 10.01(a) and (b) and <br /> (ii) defaults with respect to which the Trustee has received written notice, <br /> describing the default, from any interested party. <br /> (i) The Trustee may consult with counsel and is not liable for any action it <br /> takes or omits to take in good faith in reliance on advice from counsel as to legal <br /> matters, including but not limited to interpretation of this Agreement. <br /> (j) Notwithstanding anything in this Agreement to the contrary, the <br /> Trustee and its agents have the right to require additional evidence, certificates or <br /> opinions of counsel as to legal matters as the Trustee may deem appropriate to <br /> establish the County's right to the withdrawal of any funds held under this <br /> Agreement or to require the Trustee's taking of any other action under this <br /> Agreement. <br /> (k) The Trustee must keep complete and accurate records of all moneys <br /> received and disbursed by it under this Agreement. These records must be available <br /> for inspection by the County and any Owner, or any of their agents, at any time <br /> during regular business hours upon reasonable prior notice to the Trustee. <br /> (1) In any judicial proceeding to which the County is a party and which in <br /> the Trustee's opinion has a substantial bearing on the interests of Owners, the <br /> Trustee may intervene on the Owners' behalf, and must do so if requested in writing <br /> by the Majority Owners, provided that the Trustee has received the indemnity <br /> provided for in subsection (f) above. <br /> (m) The Trustee may act through agents or co-trustees. <br /> 35 <br />