Ordinance 1858-92 - Laserfiche WebLink

the appointment of a receiver; and the Trustee, the Owners and any receiver so appointed shall have such rights and powers and be subject to such limitations and restrictions as may be contained in or permitted by the law. Section 5 . 12 . Trustee and Owners Entitled to All Remedies Under Law; Remedies Not Exclusive. It is the purpose of this Article to provide to the Trustee and Owners all rights and reme- dies as may be lawfully granted; under the provisions of law but should any remedy herein granted be held unlawful, the Trustee and the Owners shall nevertheless be entitled to every remedy permitted. It is further intended that, insofar as lawfully possible, the provisions of this Article V shall apply to and be binding upon any trustee or receiver appointed. No remedy herein conferred is intended to be exclusive of any other remedy or remedies, and each remedy is in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. ARTICLE VI THE TRUSTEE Section 6. 01. Acceptance of Trust. The Trustee accepts and agrees to execute the trusts hereby created or by the Assignment created, but only upon the additional terms set forth in this Article VI, to all of which the parties hereto and the Owners agree. Section 6. 02 . Trustee May Act Through Agents; Answerable Only for Willful Misconduct or Negligence. The Trustee may exer- cise any powers hereunder and perform any duties required of it pursuant to this Trust Agreement through attorneys, agents, officers or employees, and shall be entitled to advice of counsel concerning all questions hereunder. The Trustee shall not be answerable for the exercise of any discretion or power under this Agreement nor for anything whatever in connection with the trust hereunder, except only its own willful misconduct or negligence or that of its agents, officers and employees. The Trustee may consult with counsel, and the advice of such counsel or any opinion of counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith in accordance with such advice or opinion of counsel. The Trustee shall not be responsible for any loss or damage resulting from any action or inaction in good faith in reliance upon such opinion or advice. The permissive right of the Trustee to do things enumerated in this Agreement shall not be construed as a duty. All money received by the Trustee shall, until used or applied as herein provided, be held in trust for the purpose for C-19 KR173 92/01/27