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1981-040 CRA
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1981-040 CRA
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1/3/2012 12:22:40 PM
Creation date
5/5/2005 11:19:15 AM
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City Clerk
Doc Type
Resolution
Doc #
CRA 1981-40
Date
5/26/1981
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<br />liabilities whjch are due to its negligence or wilful default. The Agency <br />further covenants and agrees to advance to the Trustee and each Paying Agent, <br />from aroounts available therefor in the Operating Fund, all aroounts requested <br />as the costs and expenses of such defense. <br /> <br />808. Permitted Acts and Functi.ons. The Trustee and any Paying Agent <br />may buy, own, hold and sell any Bonds, coupons or notes of the Agency, whether <br />heretofore or hereafter issued or created, and may engage or be interested in <br />any financial or other transaction with the Agency, including (subject to any <br />law or regulations precluding. or limiting any relationships between Mortgage <br />loans and Bonds purchased) serving as a Qualified Mortgage lender in the <br />M.ortgage loan Pr.ogram with like effect and with the same rights it would have <br />if it were not such Trustee or Paying Agent. The Trustee and any Paying Agent <br />may act as dep.osit.ory for, and permit any .of its officers .or directors to act <br />as a member of, .or in any other capacity with respect to, any committee f.ormed <br />to protect the rights of Bondholders or t.o effect .or aid in any reorganization <br />growing out of the enforcement of the Bonds or this Resolution whether or not <br />any such corrrnittee shall represent the Holders of a majority in principal <br />amount of the Bonds then Outstanding. <br /> <br />809. Resignation of Trustee. The Trustee may at any time resign and be <br />discharged of the duties and obligations éreated by this Resolution by giving <br />not less than sixty (60) days' written notice to the Agency and publishing <br />notice thereof once in an Authorized Newspaper. Such res ignat ion shall take <br />effect on the date on wh ich the appointment of a successor Trustee under <br />Secti.on 811 becomes effective. <br /> <br />810. Removal of Trustee. The Trustee shall be rerooved by the Agency if <br />at any time so requested by an instrument or concurrent instruments, in <br />writing, fi led with the Trustee and the Agency, and signed by the Holders of a <br />majority in principal amount of the Bonds then Outstanding or their <br />attorneys-in-fact duly authorized, excluding any Bonds held by or for the <br />account of the Agency. The Agency may remove the Trustee at any time, except <br />during the existence of an event of default as defined in Section 1201 hereof, <br />for such cause as shall be determined in the sole discreti.on of the Agency by <br />filing with the Trustee an instrument signed by an Authorized Officer. <br /> <br />811. ,Appointment of Successor Trustee. In case at any time the Trustee <br />shall resign or shall be rerooved or shall become incapable of acting, or shall <br />be adjudged a bankrupt .or insolvent, or if a receiver, liquidator or <br />conservator of the Trustee,or of its property or affairs is appointed, the <br />Agency covenants and agrees that it will thereupon appoint a successor <br />Trustee. The Agency shall publish notice of any such appointment made by it <br />in an Authorized Newspaper, such publication to be made within twenty (20) <br />days after such appointment. <br /> <br />If in a proper case no appointment of a successor Trustee shall be made <br />pursuant to the f.oreg.oing provisi.ons of this Section within thirty (30) days <br />after the Trustee shall have given to the Agency written notice, as provided <br />in Section 809, or after a vacancy in the office of the Trustee shall have <br /> <br />43 <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br />
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