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<br />-36- <br /> <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 /> <br />(c) The Trustee shall not be liable with respect to any action taken or omitted to be taken <br />by it in accordance with the direction of the Owners of not less than a majority in aggregate <br />principal amount of the Bonds at the time Outstanding relating to the time, method and place of <br />conducting any proceeding for any remedy available to the Trustee, or exercising any trust or <br />power conferred upon the Trustee under this Indenture. <br /> <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 /> <br />(e) The Trustee shall not be deemed to have knowledge of any Event of Default hereunder <br />unless and until a responsible officer shall have actual knowledge thereof, or shall have received <br />written notice thereof from the Successor Agency at its Principal Corporate Trust Office. In the <br />absence of such actual knowledge or notice, the Trustee may conclusively assume that no Event <br />of Default has occurred and is continuing under this Indenture. Except as otherwise expressly <br />provided herein, the Trustee shall not be bound to ascertain or inquire as to the performance or <br />observance by any other party of any of the terms, conditions, covenants or agreements herein <br />or of any of the documents executed in connection with the Bonds, or as to the existence of an <br />Event of Default thereunder. The Trustee shall not be responsible for the validity or effectiveness <br />of any collateral given to or held by it. Without limiting the generality of the foregoing, the Trustee <br />may rely conclusively on the Successor Agency’s certificates to establish the Successor Agency's <br />compliance with its financial covenants hereunder, including, without limitation, its covenants <br />regarding the deposit of Tax Revenues into the Redevelopment Obligation Retirement Fund and <br />the investment and application of moneys on deposit in the Redevelopment Obligation Retirement <br />Fund (other than its covenants to transfer such moneys to the Trustee when due hereunder). <br /> <br />The Trustee shall have no liability or obligation to the Bondowners with respect to the <br />payment of debt service on the Bonds by the Successor Agency or with respect to the observance <br />or performance by the Successor Agency of the other conditions, covenants and terms contained <br />in this Indenture, or with respect to the investment of any moneys in any fund or account <br />established, held or maintained by the Successor Agency pursuant to this Indenture or otherwise. <br /> <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 /> <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 not <br />be responsible for any intentional misconduct or negligence on the part of any agent, attorney or <br />receiver appointed with due care by it hereunder. <br /> <br />462