Orange County NC Website
(n) The Trustee has no duty to inspect or oversee the construction or <br /> completion of any property to be acquired, constructed or improved using Bond <br /> proceeds. <br /> (o) The Trustee shall not be responsible or liable for any failure or delay in <br /> the performance of its obligations under this Agreement arising out of or caused, <br /> directly or indirectly, by circumstances beyond its reasonable control, including, <br /> without limitation, acts of God; falling space debris; earthquakes; fire; flood; <br /> hurricanes or other storms; wars; terrorism; similar military disturbances; <br /> sabotage; epidemic; pandemic; riots; interruptions, loss or malfunctions of utilities, <br /> computer (hardware or software) or communications services, in all cases not <br /> specific to the Trustee; accidents; acts of civil or military authority or governmental <br /> action; it being understood that the Trustee shall in all cases use commercially <br /> reasonable efforts which are consistent with accepted practices in the banking <br /> industry to resume performance as soon as reasonably practicable under the <br /> circumstances. <br /> (p) The Trustee may rely on, and need only rely on, notices and <br /> instructions provided by the County in the form of a County Certificate. <br /> (q) The Trustee shall not be responsible or liable for the environmental <br /> condition or any contamination of any property which secures the Bonds or is <br /> owned or leased by the County or for any diminution in value of any such property <br /> as a result of any contamination of the property by any hazardous substance, <br /> hazardous material, pollutant or contaminant. The Trustee shall not be liable for <br /> any claims by or on behalf of the County or any other person or entity arising from <br /> contamination of the property by any hazardous substance, hazardous material, <br /> pollutant or contaminant, and shall have no duty or obligation to assess the <br /> environmental condition of any such property or with respect to compliance of any <br /> such property under state or federal laws pertaining to the transport, storage, <br /> treatment or disposal of, hazardous substances, hazardous materials, pollutants, or <br /> contaminants or regulations, permits or licenses issued under such laws. <br /> Section 9.02. Communication with the Trustee. The Trustee may <br /> accept and act upon instructions, including funds transfer instructions <br /> ("Instructions") given pursuant to this Agreement and delivered using Electronic <br /> Means. If the County elects to give the Trustee Instructions using Electronic Means <br /> and the Trustee in its discretion elects to act upon those Instructions, the <br /> Trustee's understanding of the Instructions controls. <br /> 36 <br />