1994-05-17 Resolution 91 - Laserfiche WebLink

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• or (5) for any actions taken by the Trustee in accordance with the opinion of counsel employed by the Trustee. (e) The Trustee shall be under no obligation to keep advised or informed as to whether the Authority is in. default under any of the terms or covenants of this Agreement; and unless and until the Trustee shall have received written notice to the contrary from the holders of at least five percent (50) in principal amount of the Bonds then outstanding hereunder, the Trustee may, for all purposes of this Agreement, assume that the Authority is not in default hereunder and that none of the events hereinbefore defined as "events of default" has happened. (f) The Trustee shall not be required to appear in or defend any suit which may be brought against it respecting the Project, or by reason of being Trustee hereunder, or to institute any suit or proceeding to enforce any covenant or remedy herein provided, or to take any action toward the execution or enforcement of the trusts hereby created, which, in the opinion of the Trustee, will be likely to involve the Trustee in expense or liability, unless the holders of said Bonds or some part thereof shall furnish the Trustee with reasonable security and indemnity against such expense or liability. • (g) The Trustee shall be fully protected in acting upon or in accordance with any notice or request, consent, certificate, demand, resolution or other instrument or document believed by the Trustee to be genuine and to have been signed, authorized, executed, certified or sealed by the proper person or persons; and the Trustee is authorized to accept the certificate of the Secretary- Treasurer of the Authority, under its corporate seal, if any, to any resolution of the board of directors of the Authority as conclusive evidence that such resolution was duly and lawfully adopted and is binding upon the Authority. (h) The Trustee, or any officer or director of the Trustee, may acquire and hold Bonds issued hereunder or may engage in or be interested in any financial or other transaction in which the Authority may be interested, and the Trustee may be depository, trustee, transfer agent, registrar or agent of the Authority, or for any committee or other body in respect to the bonds, notes, debentures, obligations or securities of the Authority, whether or not issued pursuant hereto. (i) The Trustee may, in relation to any powers or duties imposed upon it by this Agreement, act upon the opinion or advice of an attorney, surveyor, engineer or accountant, whether retained by the Trustee or by the Authority, and shall not be responsible • -40-