Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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` x Section 704. Money Held in Trust. Money held by the Trustee shall be held separately in trust, segregated from other funds of the Trustee. Section 705. Compensation and Reimbursement. The Issuer shall pay or cause to be paid to the Trustee reasonable compensation for its services hereunder, and also all its reasonable expenses and disbursements, and shall indemnify the Trustee against any liabilities which it may incur in the exercise and performance of its powers and duties hereunder; provided, however, that except with respect to the Surplus Account, as expressly provided in Section , the Trustee shall not look to any moneys in the Trust Estate for payment of any fees, expenses, compensation or indemnity. Section 706. Successor Trustee. Any corporation or association into which the Trustee may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its trust business and assets as a whole or substantially as a whole, or any corporation or association resulting from any such conversion, sale, merger, consolidation or transfer to which it is a party shall, ipso facto, be and become successor Trustee hereunder and vested with all the title to the whole property or Trust Estate and all the trusts, powers, discretion, immunities, privileges and all other matters as was its predecessor, without the execution or filing of any instruments or any further act, deed or conveyance on the part of any of the parties hereto, anything herein to the contrary notwithstanding. Section 707. Resignation by the Trustee. The Trustee and any successor Trustee may at any time resign from the trusts hereby created by giving 60 days' written notice by registered or certified mail to the Issuer and to each registered owner of the Bonds then Outstanding; provided that no such resignation shall take effect until a successor Trustee shall have been appointed and shall have accepted such appointment as provided in Sections 709 and 710. If no successor Trustee shall have been appointed and have accepted appointment within 60 days following the giving of all required notices of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. Section 708. Removal of Trustee. Any Trustee hereunder may be removed at any time by an instrument appointing a successor meeting the requirements of Section 710, executed by the holders of a majority in aggregate principal amount of the Bonds then Outstanding, filed with the Trustee and the Issuer. Section 709. Appointment of Successor Trustee. If the Trustee or any successor trustee resigns or is removed or dissolved, or if its property or business is taken under the control of any state or federal court or administrative body, a vacancy shall forthwith exist in the office of the Trustee, and the Issuer shall appoint a successor, meeting the requirements of Section 710, but only upon the receipt of written approval by FHA of the appointment, and shall mail notice of such appointment to the holders of the Bonds, as the case may be. If the Issuer fails to make such appointment, the holders of a majority in principal amount of the Bonds then 2975.1 47