1991-11-13 Resolution 45 - Laserfiche WebLink

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agrees to execute any documents to evidence such release as may be • reasonably required by the Authority. (c) The Escrow Trustee, upon investment in Governmental Obligations pursuant to Section 4(c), shall publish, within thirty (30) days of such deposit, the notice required by Section 8.01 of the 1988 Trust Agreement to be published upon investment in Governmental Obligations. - Section 8. Application of Escrow Fund After Payment of 1988 Bonds. After payment of the principal of and interest on the 1988 Bonds, all remaining moneys in the Escrow Fund together with any ,increment thereto and interest earned thereon, shall be transferred promptly by the Escrow Trustee to the South Bend Redevelopment Authority Stadium Facility Sinking Fund established under the Trust Agreement, except for an amount sufficient to pay, when presented for payment, any 1988 Bonds which have not. been presented for payment, which amount shall be held by the Escrow Trustee pursuant to the requirements of the 1988 Trust Agreement and in accordance with Indiana law. Section 9. 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 • -9-