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SA-3 - RESO TAX ALLOCATION BOND
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07/17/2018
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SA-3 - RESO TAX ALLOCATION BOND
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Last modified
7/12/2018 5:35:37 PM
Creation date
7/12/2018 5:27:26 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
SA-3
Date
7/17/2018
Destruction Year
2023
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upon such Instructions, the Trustee's understanding of such Instructions shall be deemed <br />controlling. The Agency understands and agrees that the Trustee cannot determine the identity <br />of the actual sender of such Instructions and that the Trustee shall conclusively presume that <br />directions that purport to have been sent by an Authorized Officer listed on the incumbency <br />certificate provided to the Trustee have been sent by such Authorized Officer. The Agency shall <br />be responsible for ensuring that only Authorized Officers transmit such Instructions to the <br />Trustee and that the Agency and all Authorized Officers are solely responsible to safeguard the <br />use and confidentiality of applicable user and authorization codes, passwords and/or <br />authentication keys upon receipt by the Agency. The Trustee shall not be liable for any losses, <br />costs or expenses arising directly or indirectly from the Trustee's reliance upon and compliance <br />with such Instructions notwithstanding such directions conflict or are inconsistent with a <br />subsequent written instruction. The Agency agrees: (i) to assume all risks arising out of the use <br />of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of <br />the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third <br />parties; (ii) that it is fully informed of the protections and risks associated with the various <br />methods of transmitting Instructions to the Trustee and that there may be more secure methods of <br />transmitting Instructions than the method(s) selected by the Agency; (iii) that the security <br />procedures (if any) to be followed in connection with its transmission of Instructions provide to <br />it a commercially reasonable degree of protection in light of its particular needs and <br />circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or <br />unauthorized use of the security procedures. <br />(q) The Trustee shall not be liable to the parties hereto or deemed in breach or default <br />hereunder if and to the extent its performance hereunder is prevented by reason of force majeure. <br />The term "force majeure" means an occurrence that is beyond the control of the Trustee and <br />could not have been avoided by exercising due care. Force majeure shall include but not be <br />limited to acts of God, terrorism, war, riots, strikes, fire, floods, earthquakes, epidemics or other <br />similar occurrences. <br />(r) To the fullest extent permitted by law and notwithstanding anything in this <br />Indenture to the contrary, the Trustee shall not be personally liable for (i) special, consequential <br />or punitive damages, however styled, including, without limitation, lost profits or (ii) the acts or <br />omissions of any nominee, correspondent, clearing agency, or securities depository through <br />which it holds securities or assets. <br />(s) The Trustee shall have no responsibility or liability with respect to any <br />information, statements or recital in any offering memorandum or other disclosure material <br />prepared or distributed with respect to the issuance of the Bonds. <br />Section 7.03 Merger or Consolidation. Any company into which the Trustee may be <br />merged or converted or with which it may be consolidated or any company resulting from any <br />merger, conversion or consolidation to which it shall be a party or any company to which the <br />Trustee may sell or transfer all or substantially all of its corporate trust business, provided such <br />company shall be eligible under subsection (e) of Section 7.02, shall succeed to the rights and <br />obligations of such Trustee without the execution or filing of any paper or any further act, <br />anything herein to the contrary notwithstanding. <br />4150-2542-5420.3 44 <br />40990-25 <br />SA -3-62 <br />
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