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notice (if any) as it may deem proper, appoint such successor Trustee. Any successor
<br />Trustee appointed under the Indenture shall signify its acceptance of such appointment by
<br />executing slid delivering to the Agency and to its predecessor Trustee and the Bond
<br />Insurer a written acceptance thereof, and thereupon such successor Trustee, without any
<br />further act, deed or conveyance, shall become vested with all the moneys, estates,
<br />properties, rights, powers, trusts, duties and obligations of such predecessor Trustee, with
<br />like effect, as if originally named Trustee herein; but, nevertheless, at the written request
<br />of the Agency or of the successor Trustee, such predecessor Trustee shall execute and
<br />deliver any and all instruments of conveyance or father assurance and do such other
<br />things as may reasonably be required for fully and certainly vesting in and confirming to
<br />such successor Trustee all the right, title and interest of such predecessor Trustee in and
<br />to any property held by it under the Indenture and shall pay over, transfer, assign and
<br />deliver to the successor Trustee any money or other property subject to the trusts and
<br />conditions set forth herein. Upon request of the successor Trustee, the Agency shall
<br />execute and deliver any and all instruments as may be reasonably required for fully and
<br />certainly vesting in and confirming to such successor Trustee all such moneys, estates,
<br />properties, rights, powers, trusts, duties and obligations. Upon acceptance of
<br />appointment by a successor Trustee as provided in this subsection, such successor
<br />Trustee shall mail a notice of the succession of such Trustee to the trusts hereunder by
<br />first class mail, postage prepaid, to the Owners at their addresses listed in the Bond
<br />Register.
<br />(e) Any Trustee appointed under the provisions of this section shall be a trust
<br />company or bank having the powers of a trust company or authorized to exercise trust
<br />powers, having a corporate trust office in California, having (or in the case of a bank,
<br />trust company or bank holding company which is a member of a bank holding company
<br />system, the related bank holding company shall have) a combined capital and surplus of
<br />at least fifty million dollars ($50,000,000), and subject to supervision or examination by
<br />federal or state authority, If such bank, trust company or bank holding company
<br />publishes a report of condition at least annually, pursuant to law or to the requirements of
<br />any supervising or examining authority above referred to, then for the purpose of this
<br />subsection the combined capital and surplus of such bank, trust company or bank holding
<br />company shall be deemed to be its combined capital and surplus as set forth in its most
<br />recent report of condition so published. in case at any time the Trustee shall cease to be
<br />eligible in accordance with the provisions of this subsection, the Trustee shall resign
<br />immediately in the manner and with the effect specified in this section.
<br />(l) No provision in the Indenture shall require the Trustee to risk or expend its
<br />own Rinds or otherwise incur any financial liability in the performance of any of its
<br />duties hereunder unless the Owners shall have offered to the Trustee security or
<br />indemnity it deems reasonable, against the costs, expenses and liabilities that may be
<br />incurred.
<br />(g) In accepting the trust hereby created, the Trustee acts solely as Trustee for
<br />the Owners and not in its individual capacity, and under no circumstances shall the
<br />Trustee be liable in its individual capacity for the obligations evidenced by the Bonds,
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