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Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)
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Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)
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5/5/2022 3:20:12 PM
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5/4/2022 5:05:05 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/9/2022
Bill Number
20-22
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<br />65 <br /> <br />(d) Whether or not therein expressly so provided, every provision of this <br />Indenture relating to the conduct of, affecting the liability of or affording protection to the <br />Trustee shall be subject to the provisions of this Section 6.01. <br />Section 6.02. Certain Rights and Obligations of the Trustee.Except as otherwise provided <br />in Section 6.01 hereof: <br /> <br />(a) The Trustee (i) may execute any of the trusts or powers hereof and <br />perform any of its duties by or through attorneys, agents, receivers or employees (but shall <br />be answerable therefor only in accordance with the standard specified above), (ii) shall be <br />entitled to the advice of counsel concerning all matters of trusts hereof and duties hereunder <br />and (iii) may pay reasonable compensation in all cases to all of those attorneys, agents, <br />receivers and employees reasonably employed by it in connection with the trusts hereof. <br />The Trustee may act upon the opinion or advice of any attorney (who may be the attorney <br />or attorneys for the Issuer or the Borrower) approved by the Trustee in the exercise of <br />reasonable care. The Trustee shall not be responsible for any loss or damage resulting from <br />any action taken or omitted to be taken in good faith in reliance upon that opinion or advice. <br />(b) Except for its certificate of authentication on the Bonds, the Trustee <br />shall not be responsible for: <br />(i) any recital in this Indenture or in the Bonds; <br />(ii) the validity, priority, recording, rerecording, filing or refiling of this <br />Indenture or any Supplemental Indenture; <br />(iii) any instrument or document of further assurance or collateral <br />assignment; <br />(iv) any financing statements or amendments thereto; <br />(v) insurance of the Project or collection of insurance moneys; <br />(vi) the validity of the execution by the Issuer of this Indenture, any <br />Supplemental Indenture or instruments or documents of further assurance; <br />(vii) the sufficiency of the security for the Bonds issued hereunder or <br />intended to be secured hereby; <br />(viii) the value of or title to the Project; or <br />(ix) the maintenance of the security hereof; <br />except that, in the event that the Trustee enters into possession of any property pursuant to any <br />provision of any instrument or document, the Trustee shall use due diligence in preserving that <br />property. The Trustee shall not be bound to ascertain or inquire as to the observance or <br />performance of any covenants, agreements or obligations on the part of the Issuer or the Borrower <br />under the Agreement except as set forth herein, but the Trustee may require of the Issuer or the
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