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2014-004 SAFA
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2014-004 SAFA
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Last modified
7/28/2014 5:07:05 PM
Creation date
7/28/2014 4:13:42 PM
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City Clerk
Doc Type
Resolution
Doc #
2014-004
Date
7/15/2014
Destruction Year
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mandate or specific performance by court order, to cause the City to comply with its obligations <br />under this Disclosure Agreement. A default under this Disclosure Agreement shall not be <br />deemed an event of default under the Indenture and the sole remedy under this Disclosure <br />Agreement in the event of any failure of the City or the Dissemination Agent to comply with this <br />Disclosure Agreement shall be an action to compel performance. <br />Section 11. Duties, Immunities and Liabilities of the Dissemination Agent. The Indenture <br />is hereby made applicable to this Disclosure Agreement as if this Disclosure Agreement were <br />(solely for this purpose) contained in the Indenture. The Dissemination Agent shall be entitled to <br />the protections and limitations afforded to the Trustee under said Indenture. The Dissemination <br />Agent shall have only such duties as are specifically set forth in this Disclosure Agreement, and <br />the City agree to indemnify and save the Dissemination Agent, its officers, directors, employees <br />and agents, harmless against any loss, expense and liabilities which it may incur arising out of or <br />in the exercise or performance of its duties hereunder, including the costs and expenses <br />(including attorneys' fees) of defending against any claim of liability, but excluding liabilities <br />due to the Dissemination Agent's negligence or willful misconduct. The Dissemination Agent <br />shall be paid compensation by the City for its services provided hereunder in accordance with its <br />schedule of fees as amended from time to time and shall be reimbursed by the City all expenses, <br />legal fees and advances made or incurred by the Dissemination Agent in the performance of its <br />duties hereunder. Neither the Dissemination Agent nor the Trustee shall have any duty or <br />obligation to review any information provided to it hereunder or shall be deemed to be acting in <br />any fiduciary capacity for the City, the owners of the Bonds or any other party. The obligations <br />of the City under this section shall survive resignation or removal of the Dissemination Agent <br />and payment of the Bonds. Any company succeeding to all or substantially all of the <br />Dissemination Agent's corporate trust business shall be the successor to the Dissemination Agent <br />hereunder without the execution or filing of any document or any further act. <br />Section 12. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of <br />the City, the Dissemination Agent, the Participating Underwriters and the Owners from time to <br />time of the Bonds, and shall create no rights in any other person or entity. <br />55394.00011 \8807737.1 6 <br />
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