Orange County NC Website
Browse       Search
15 <br /> applicable, not in excess of the "yield" on the 2019A Bonds, which is at least <br /> 2.0737%. <br /> The County's failure to comply with the provisions shall not in itself be an <br /> Event of Default within the meaning of Section 10.01 of the 2018 Agreement so long <br /> as the County provides for any excess earnings from the investment of covered <br /> proceeds to be calculated and paid to the United States, as required by the Code. <br /> The provisions of this Section are in addition to, and do not amend, the <br /> investment provisions of Section 12.01 of the 2018 Agreement. <br /> Section 1.09. No Other Changes. Except as provided by this Amending <br /> Agreement, the parties ratify and confirm the terms of the 2019A Documents. <br /> Section 1.10. Limited Obligation. The 2019A Bonds are limited obligations <br /> of the County, as provided and described in Section 4.05 of the 2018 Agreement. <br /> ARTICLE II <br /> INDEMNIFICATION <br /> To the extent permitted by law, the County will indemnify, protect and save <br /> (a) the LGC and its members and employees, and <br /> (b) the Trustee and its officers and employees, <br /> in all cases harmless from all liability and losses, including expenses and legal fees, <br /> expenses and costs, arising out of, connected with, or resulting directly or indirectly <br /> from actions by the County and its representatives and relating to the Mortgaged <br /> Property (as defined in the 2019A Documents) or the transactions contemplated by <br /> this Amending Agreement, including without limitation the possession, condition, <br /> installation, construction or use of the Mortgaged Property. <br /> The County has no obligation to indemnify any indemnified party for the gross <br /> negligence or intentional misconduct of the indemnified party or any of its employees <br /> or representatives. The County's obligation to provide indemnification under this <br /> 6 <br />