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08-25 Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respec Thereto in Connection With the J. C. Hart Development Project
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08-25 Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respec Thereto in Connection With the J. C. Hart Development Project
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ARTICLE VIII. <br /> THE TRUSTEE <br /> Section 8.1. Acceptance of the Trusts. The Trustee hereby accepts the trusts <br /> imposed upon it by this Indenture,and agrees to perform said trusts as a corporate trustee ordinarily <br /> would perform said trusts under a corporate indenture, but no implied covenants or obligations <br /> shall be read into this Indenture against the Trustee. <br /> (a) The Trustee may execute any of the trusts or powers hereof and perform any of its <br /> duties by or if appointed through attorneys, agents, receivers or employees but shall not be <br /> answerable for the conduct of the same in accordance with the standard specified above, and shall <br /> be entitled to advice of counsel concerning all matters of trusts hereof and the duties hereunder, <br /> and may in all cases pay such reasonable compensation to all such attorneys,agents,receivers and <br /> employees as may reasonably be employed in connection with the trusts hereof. The Trustee may <br /> act upon the opinion or advice of any attorney(who may be the attorney or attorneys for the Issuer <br /> or the Company). The Trustee shall not be responsible for any loss or damage resulting from any <br /> action or non-action in good faith in reliance upon such opinion or advice. <br /> (b) The Trustee shall not be responsible for any recital herein, or in the Bonds(except <br /> in respect to the certificate of the Trustee endorsed on the Bonds), or for insuring the property <br /> herein conveyed or collecting any insurance moneys, or for the validity of the execution by the <br /> Issuer of this Indenture or of any supplements thereto or instruments of further assurance, or for <br /> the sufficiency of the security for the Bonds issued hereunder or intended to be secured hereby, or <br /> for the value or title of the property herein conveyed or otherwise as to the maintenance of the <br /> security hereof;and the Trustee shall not be bound to ascertain or inquire as to the performance or <br /> observance of any covenants, conditions or agreements on the part of the Issuer or on the part of <br /> the Company under the Loan Agreement, the Taxpayer Agreement or the Development <br /> Agreement; but the Trustee may require of the Issuer or the Company full information and advice <br /> as to the performance of the covenants,conditions and agreements aforesaid as to the condition of <br /> the property herein conveyed.The Trustee shall have no obligation to perform any of the duties of <br /> the Issuer under the Loan Agreement, and the Trustee shall not be responsible or liable for any <br /> loss suffered in connection with any investment of funds made by it in accordance with the <br /> provisions of this Indenture. <br /> (c) The Trustee shall not be accountable for the use of any Bonds authenticated by it <br /> or delivered hereunder. The Trustee may become the owner of Bonds secured hereby with the <br /> same rights which it would have if not Trustee. <br /> (d) The Trustee shall be protected in acting upon any notice, request, consent, <br /> certificate,order,affidavit, letter, telegram or other paper or document believed to be genuine and <br /> correct and to have been signed or sent by the proper person or persons. Any action taken by the <br /> Trustee pursuant to this Indenture upon the request or authority or consent of any person who at <br /> the time of making such request or giving such authority or consent is the owner of any Bonds, <br /> shall be conclusive and binding upon all future owners of the same Bond and upon Bonds issued <br /> in exchange therefor or in place thereof. <br /> 31 <br />
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