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is made a party to or intervenes in any litigation pertaining to this ordinance or institutes <br /> interpleader proceedings relative hereto, the Bond Registrar shall be compensated reasonably by <br /> the City for such extraordinary services and reimbursed for any and all claims, liabilities, losses, <br /> damages, fines, penalties, and expenses, including out-of-pocket and incidental expenses and <br /> legal fees and expenses occasioned thereby. <br /> (b) Registered Ownership. The City and the Bond Registrar, each in its discretion, <br /> may deem and treat the Registered Owner of each Bond as the absolute owner thereof for all <br /> purposes (but with respect to the City, except as provided in the Continuing Disclosure <br /> Certificate), and neither the City nor the Bond Registrar shall be affected by any notice to the <br /> contrary. Payment of any such Bond shall be made only as described in Section 2.05(g) hereof, <br /> but such Bond may be transferred as herein provided. All such payments made as described in <br /> Section 2.05(g) shall be valid and shall satisfy and discharge the liability of the City upon such <br /> Bond to the extent of the amount or amounts so paid. <br /> None of the provisions of this ordinance shall require the Bond Registrar to expend or <br /> risk its own funds or otherwise to incur any liability, financial or otherwise, in the performance <br /> of any of its duties hereunder. The Bond Registrar shall be entitled to compensation, protection <br /> and payment of its fees and expenses as provided in its contract with the Washington State <br /> Finance Committee or the City, as applicable. <br /> (c) DTC Acceptance/Letters of Representations. The Bonds initially shall be held in <br /> fully immobilized form by DTC acting as depository. To induce DTC to accept the Bonds as <br /> eligible for deposit at DTC, the City has executed and delivered to DTC a Blanket Issuer Letter <br /> of Representations. Neither the City nor the Bond Registrar will have any responsibility or <br /> obligation to DTC participants or the persons for whom they act as nominees (or any successor <br /> -44- P\20287 CMVVW20287 AMT 10/14/14 <br />