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Section 2. Investments. <br /> The Refunding Trustee shall not have any power or duty to invest or reinvest any money <br /> held hereunder. <br /> Section 3. Limitation on Liability. <br /> The liability of the Refunding Trustee to transfer funds for the payment of the costs of <br /> issuance identified herein shall be limited to the proceeds of the Bonds delivered to the <br /> Refunding Trustee. <br /> Section 4. Compensation. <br /> The City shall pay to the Refunding Trustee fees for performing the services hereunder <br /> and under the Escrow Deposit Agreement for the expenses incurred or to be incurred by the <br /> Refunding Trustee in the administration of this Agreement and the Escrow Deposit Agreement <br /> pursuant to the terms of the Fee Schedule attached as Exhibit B. The Refunding Trustee hereby <br /> agrees that in no event shall it ever assert any claim or lien against funds held under the Escrow <br /> Deposit Agreement for any fees for its services, whether regular or extraordinary, as Refunding <br /> Trustee, or in any other capacity, or for reimbursement for any of its expenses as Refunding <br /> Trustee or in any other capacity. <br /> Section 5. Notice. <br /> Any notice, authorization, request, or demand required or permitted to be given <br /> hereunder shall be in writing and shall be deemed to have been duly given when mailed by <br /> registered or certified mail, postage prepaid addressed to the City or the Refunding Trustee at the <br /> address shown on Exhibit A to the Escrow Deposit Agreement. <br /> Section 6. Washington Law Governs. <br /> This Agreement shall be governed exclusively by the provisions hereof and by the <br /> applicable laws of the state of Washington. <br /> B-2 P 120287 CMVN20287_AMT 10/14/14 <br />