Laserfiche WebLink
-37- <br />committee formed to protect the rights of the Owners, whether or not such committee shall <br />represent the Owners of a majority in principal amount of the Bonds then Outstanding. <br />(b) The Trustee shall not be liable for any error of judgment made by a responsible <br />employee or officer, unless the Trustee shall have been negligent in ascertaining the pertinent <br />facts. <br />(c) The Trustee shall not be liable withrespect to any action taken or omitted to be <br />taken by it in accordance with the direction of the Owners of not less than a majority in <br />aggregate principal amount of the Bonds at the time Outstanding relating to the time, method <br />and place of conducting any proceeding for any remedy available to the Trustee, or exercising <br />any trust or power conferred upon the Trustee under this Indenture. <br />(d) The Trustee shall not be liable for any action taken by it and believed by it to be <br />authorized or within the discretion or rights or powers conferred upon it by this Indenture, except <br />for actions arising from the negligence or intentional misconduct of the Trustee. The permissive <br />right of the Trustee to do things enumerated hereunder shall not be construed as a mandatory <br />duty. <br />(e) The Trustee shall not be deemed to have knowledge of any Event of Default <br />hereunder unless and until a responsible officer shall have actual knowledge thereof, or shall <br />have received written notice thereof from the Successor Agencyatits Principal Corporate Trust <br />Office. In the absence of such actual knowledge or notice, the Trustee may conclusively <br />assume that no Event of Default has occurred and is continuing under this Indenture. Except as <br />otherwise expressly provided herein, theTrustee shall not be bound to ascertain or inquire as to <br />the performance or observance by any other party of any of the terms, conditions, covenants or <br />agreements herein or of any of the documents executed in connection with the Bonds, or as to <br />the existence of an Event of Default thereunder. The Trustee shall not be responsible for the <br />validity or effectiveness of any collateral given to or held by it. Without limiting the generality of <br />the foregoing, the Trustee may rely conclusively on the Successor Agency’s certificates to <br />establish the Successor Agency's compliance with its financial covenants hereunder, including, <br />without limitation, its covenants regarding the deposit of Tax Revenues into the Redevelopment <br />Obligation RetirementFund and the investment and application of moneys on deposit in the <br />Redevelopment Obligation RetirementFund (other than its covenants to transfer such moneys <br />to the Trustee when due hereunder). <br />The Trustee shall have no liability or obligation to the Bondowners with respectto the <br />payment of debt service on the Bonds by the Successor Agencyor with respect to the <br />observance or performance by the Successor Agencyof the other conditions, covenants and <br />terms contained in this Indenture, or with respect to the investment of anymoneys in any fund <br />or account established, held or maintained by the Successor Agencypursuant to this Indenture <br />or otherwise. <br />No provision of this Indenture shall require the Trustee to expend or risk its own funds or <br />otherwise incur any financial liability in the performance of any of its duties hereunder, or in the <br />exercise of any of its rights or powers. The Trustee shall be entitled to interest on all amounts <br />advanced by it at the maximum rate permitted by law. <br />The Trustee may execute any of the trusts or powers hereunder or perform any duties <br />hereunder either directly or by or through agents, attorneys or receivers and the Trustee shall