1998-10-19 Resolution 130 - Laserfiche WebLink

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• thereunder, now or hereafter in force, to ensure that the interest on the Prior Bonds and the Bonds at all times continues to be excludable from gross income for federal income tax purposes. Section 10. Indemnification of Escrow Trustee. The Authority hereby agrees to indemnify the Escrow Trustee and hold it harmless from any and all claims, liabilities, losses, actions, suits or proceedings at law or in equity, by reason of its acting as Escrow Trustee under this Agreement, except in the case of the negligence or willful misconduct of the Escrow Trustee, . its:, ... employees or its agents; and in connection therewith, the Authority hereby agrees to indemnify the Escrow Trustee against any and all reasonable expenses, including reasonable attorney's fees and the cost of defending any action, suit or proceeding or resisting any claim, including appellate proceedings. Section 11. Resignation of Escrow Trustee. The Escrow Trustee may resign, • and thereby become discharged from the duties and obligations hereby created, by executing an instrument in writing resigning such duties and specifying the date when such resignation shall take effect, and delivering the same by registered or certified mail to the Authority not less than twenty (20) days before the date specified in such instrument when such resignation shall take effect. Such resignation shall not take effect until the appointment of a successor Escrow Trustee in accordance with Section 13 hereof and acceptance of such appointment by the successor Escrow Trustee. Section 12. Removal of Escrow Trustee. (a) The Escrow Trustee may be removed at any time by an instrument or concurrent instruments in writing, delivered to the Escrow Trustee and the Authority and executed by the holders or owners of not less than fifty-one percent (51 %) in aggregate principal amount of • ::ODMA\PCDOCS\SBDOCS 1\24205\2 -1 ~-