Laserfiche WebLink
connection therewith as it may deem proper, and in following either course, it shall not be liable, <br /> except as provided above. <br /> Section 9. Compensation of Refunding Trustee. The Refunding Trustee shall be paid the <br /> sum of$ for services rendered by it pursuant to the provisions of this Agreement, and <br /> such payment is inclusive of all fees, compensation and expenses of the Refunding Trustee; <br /> provided, however, that the Refunding Trustee shall be separately compensated for services <br /> performed in connection with any substitution of Acquired Obligations pursuant to Section 12 of <br /> the Bond Ordinance. <br /> In the event that the Refunding Trustee renders any service not provided for in this <br /> Agreement, or the Refunding Trustee is made a party to or intervenes in any litigation pertaining <br /> to this Agreement or institutes interpleader proceedings relative hereto, the Refunding Trustee <br /> shall be reasonably compensated by the City for such extraordinary services and reimbursed for all <br /> fees, costs, liability and expenses (including reasonable attorneys' fees) occasioned thereby. In no <br /> event shall the Refunding Trustee be entitled to payment or reimbursement of any fees, costs, <br /> liability or expense out of the moneys or securities held by it in trust hereunder. <br /> Section 10. Successor Refunding Trustee. The obligations assumed by the Refunding <br /> Trustee pursuant to this Agreement may be transferred by the Refunding Trustee to a successor; <br /> provided, that the Refunding Trustee has presented evidence satisfactory to the City and its bond <br /> counsel that the successor meets the requirements of RCW Chapter 39.53, as now in effect or <br /> hereafter amended, and has assumed all the obligations of the Refunding Trustee under this <br /> Agreement, and that all the Acquired Obligations and moneys held by the Refunding Trustee <br /> pursuant to this Agreement have been duly transferred to such successor. <br /> Section 11. Agreement to Remain in Force. The Refunding Trustee and the City <br /> recognize that the holders and owners from time to time of the Refunded 1988 Bonds have a <br /> beneficial interest in the Acquired Obligations and moneys to be held by the Refunding Trustee as <br /> herein provided. It is therefore understood and agreed that this irrevocable Agreement shall not <br /> A-9 FWW04E.DOc e3/laza <br />