Ordinance 1818-91 - Laserfiche WebLink

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 which it was received. Neither the Trustee nor any paying agent shall be under any liability for interest on any money received by it hereunder. Section 6. 03 . Compensation. The Trustee shall receive from the Underwriter as compensation for its services hereunder the initial fee of $ and an annual fee of $ , paid in advance, for so long as the Certificates are Outstanding. In the event all the Lease Payments represented by the Certificates are prepaid in full prior to their scheduled maturity, the Trustee shall promptly remit to the City an amount equal to the annual fees for such years remaining of the original lease term for which services of the Trustee are no longer required. In addition, in accordance with the Lease the Trustee shall be entitled to payment -19- D0T437 91/09/24