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<br />ARTICLE VIII <br />THE TRUSTEE AND PAYING AGENT <br /> <br />801. Trustee Appointment and Acceptance of Duties. The Agency hereby <br />appoints Security Pacific National Bank, Los Angeles, California, as Trustee <br />and Paying Agent under this Resolution. The Trustee shall signify its <br />acceptance of the duties and obligations imposed up.on it by this Res.oluti.on by <br />written instrument of acceptance deposited with the Agency. The property, <br />rights, powers and duties of - the Trustee under this Resolution are hereby <br />vested in said Trustee in trust for the B.ondholders. The Trustee (and any <br />successor Trustee) shall have a capital and surplus aggregating at least <br />fifty million dollars ($50,000,000). - <br /> <br />802. Paying Agent. The Agency hereby appoints Security Pacific <br />National Bank in Los Angeles, California, as Paying Agent under this <br />Resolution. The Agency may at any time or from time t.o time by Supplemental <br />Resolution app.oint .one or more other Paying Agents for such Bonds. Each <br />Paying Agent shall be a bank, trust company or national banking associati.on, <br />having a capital and surplus aggregating at least fifty million d.ollars <br />($50,000,000). Each Paying Agent shall signify its acceptance of the duties <br />and obligations imposed upon it by this Resolution by executing and delivering <br />to the Agency and the Trustee a written acceptance thereof. <br /> <br />803. Responsibilities of Trustee and Paying Agent. The recitals .of <br />fact herein and in the Bonds contained shall be taken as the statements of the <br />Agency and neither the Trustee nor any Paying Agent assumes any responsibility <br />for the correctness of the same. Neither the Trustee nor any Paying Agent <br />shall be deemed to make any representations as t.o the validity or sufficiency <br />of this Resolution or of any Bonds or c.oupons issued thereunder or in respect <br />of the security aff.orded by this Resolution, and neither the Trustee n.or any <br />Paying Agent shall incur any responsibility .or duty with respect to the <br />issuance of the Bonds for value or the application of the proceeds thereof or <br />the application of any moneys paid to the Agency. Neither the Trustee nor any <br />Paying Agent shall be under any obligation or duty to perform any act \'A1ich <br />would involve it in expense or liability or to institute or defend any suit in <br />respect hereof, or to advance any of its own moneys, unless properly <br />indermified to its satisfaction. Neither the Trustee nor any Paying Agent <br />shall be liable in connection with the performance of its duties hereunder <br />except for its own negligence or wilful default. Neither the Trustee n.or any <br />Paying Agent shall be under any responsibility or duty with respect to the <br />application of any moneys paid to anyone of the others. <br /> <br />804. Funds Held in Trust. All moneys held by the Trustee at any time <br />pursuant to the terms of this Resolution shall be and hereby are assigned, <br />transferred and set over unto such Trustee in trust for the purposes and under <br />the terms and conditions of this Resolution. <br /> <br />805. Evidence on Which Trustee May Act. The Trustee and any Paying <br />Agent shall be protected 10 actlOg upon any notice, res.olution, request, <br /> <br />41 <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br />