Agenda - Economic Development Authority - 05/24/2005

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ARTICLE VIII CONCERNING THE TRUSTEE Section 8.01 Acceptance of Trust and Prudent Performance Thereof. The Trustee, prior to th,: occun'ence of an Event of Default and after the curing of all such Events of Default as may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. The Trustee shall, during the existence of any such Event of Default which has not been cured, exercise such of the rights and powers vested in it by this Indenture, auld use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct ora person's own affairs. The Trustee shall not be required to take notice or be deemed to have notice of any Default hereunder, except Default in the deposits or payments specified herein, or failure by the Issuer or the City to file with it any of the documents required, or to deposit with it evidence of any insurance policies required hereunder or under the Lease or Sublease, unless the Trustee sholl be specifically notified in writing of such Default by the City, by the Issuer or by the Holders of a majority in aggregate principal amount of Bonds Outstanding hereund.er, and ail notices or other instruments required by this Indenture to be delivered to the Trustee must, in order to be effective, be delivered at the office of the Trustee, and in the absence of such notice so delivered, the Trustee may conclusively assume that there is no Default, except-as aforesaid. No provision of this Indenture shall be construed to relieve the TrUStee from liability for its own negligent action, its own negligerit failure to act, or its own willful misconduct, except ~hat (a) prior to such an Event of Default hereunder, and after the curing ofall such Events of Default which may have occurred: (1) the duties and obligations of the Trustee shall be determined solely by the expreks provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligation, s shall be read into this Indenture against the Trustee, and (2) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and to the correctness of the opinions expressed therein, upon any certificate or opinion furnished to the Trustee conforming to the requirements of this Indenture; but in the case of any such certificate or opinion which by any provision hereof is specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not it conforms in form to the requirements of'this Indenture; and at all times, regardless of whether or not any such Event of Default shall exist: 176,3 t)O3v I 111