Laserfiche WebLink
ARTICLE X <br />MISCELLANEOUS <br />10.1 Delegation. By written notice to the Trustee, the Plan Administrator or the Agency may <br />authorize the 'Trustee to act on matters in the ordinary course of the business of the Trust or on <br />specific matters upon the signature of its delegate. <br />10.2 Expenses and Taxes. <br />(a) The Agency, or at its option, the Trust, shall pay the Trustee its expenses in <br />administering the Trust and reasonable compensation fox its services as Trustee at a rate to be agreed <br />upon by the parties to this Agreement, based upon Trustee's published fee schedule. However, the <br />Trustee reserves the right to alter this rate of compensation at any time by providing the Agency with <br />notice of such change at least thirty days prior to its effective date. Reasonable compensation shall <br />include compensation for any extraordinary services or computations required, such as determination <br />of valuation of assets when current market values are not published and interest on funds to cover <br />overdrafts. The Trustee shall have a lien on the Trust for compensation and for any reasonable <br />expenses including counsel, appraisal, or accounting fees, and these may be withdrawn from the <br />Trust as and when viewed and payable, or if Agency has elected to pay expenses of the Trust, may <br />be withdrawn from the Trust unless paid by the Agency within thirty days after mailing of the <br />written billing by the Trustee. <br />(b) Reasonable counsel fees, reasonable costs, expenses, and charges of the Trustee <br />incurred or made in the performance of its duties, including but not limited to expenses relating to <br />investment of the Trust such as broker's commissions, stamp taxes, and similar items and all taxes of <br />any and all ]finds that may be levied or assessed under existing or future laws upon or in respect to <br />the Trust or the income thereof shall be paid from the Trust Assets, unless paid by the Agency. <br />10.3 Third Parties. <br />(a) No person dealing with the Trustee shall be required to follow the application of <br />purchase money paid or money loaned to the Trustee or inquire as to whether the Trustee has <br />complied with the requirements hereof. <br />(b) In any judicial or administrative proceedings, only the Agency and the Trustee shall <br />be necessary parties and no Participant or other person having or claiming any interest in the '.Trust <br />shall be entitled to any notice or service of process (except as required by law). Any judgment, <br />decision or award entered in any such proceeding or action shall be conclusive upon all interested <br />persons. <br />10.4 Successor Agency. If any successor to an Agency continues the Plan adopted by the <br />Agency, such successor shall concurrently become a successor first parry to this Trust Agreement by <br />giving written notice of its adoption of the Plan and this Trust Agreement to the Trustee by duly <br />authorized persons; such successor Agency shall become a signatory to this Trust Agreement upon <br />its written notice to Trustee of the Successor's adoption hereof. <br />10.5 Relation to Plan. All words and phrases used herein shall have the same meanings as in <br />the Plan, and this Trust Agreement and the Plan shall be read and construed together. Whenever the <br />56A-t36 <br />