RES 02047 - Laserfiche WebLink

the Prepayment Fund available for such purposes. The 1989 Trustee shall not be liable for any loss whatsoever resulting from, nor be required to make up any deficiency \\ith respect to, any investment made pursuant to these Instructions in compliance with the provisions hereof. IV. Fees. The City shall pay to the 1989 Trustee its fees for its services hereunder and reimburse the 1989 Trustee for its reasonable expenses incurred hereunder. as provided for in the 1989 Trust Agreement. The 1989 Trustee shall not have any lien whatsoever upon any of the moneys in the Prepayment Fund, or otherwise deposited in accordance with these Instructions. for the payment of fees and expenses for services rendered by it hereunder. The City covenants and agrees to indemnify and save the 1989 Trustee and its officers. directors, agents and employees. harmless against any and all claims. losses. expenses (including reasonable attorney fees and disbursements) and liabilities which it may incur arising out of or in the exercise and performance of its duties hereunder. but excluding any and all claims. losses. expenses and liabilities which are due to the negligence or willful misconduct of the 1989 Trustee. i,ts officers. directors. or employees. The obligations of the City under this Section IV shall survive the removal or resignation of the 1989 Trustee and payment of the 1989 Certificates and the discharge of the 1989 Trust Agreement as it relates thereto. V. Deficiency. Upon deposit of the amounts set forth in Section 1,2 hereof. all obligations of the City under the 1989 Trust Agreement. as it relates to the 1989 Certificates. and all security provided by the 1989 Trust Agreement and the 1989 Improvement Agreement for the 1989 Certificates. shall cease and terminate. excepting only the obligations of the City to pay. or cause to be paid. principal of and interest with respect to. and premiurn. if any. on. the 1989 Certificates from the deposit made by the City pursuant to Section 1.2 hereof. and the City's obligation to indemnify the 1989 Trustee pursuant to the 1989 Trust Agreement. In the event of a deficiency in the funds and amounts in the Prepayment Fund for purposes of paying the principal of and interest with respect to the 1989 Certificates. the City shall imrnediately make up such deficiency. VI. Termination. These Instructions shall. except as set forth in Section IV hereof. terminate and be of no further force and effect when all transfers required to be made by the 1989 Trustee under the provisions hereof shall have been made. and all payments with respect to the ] 989 Certificates shall have been effected, From and after June 6. 2002. any rernaining moneys on deposit in the Prepayment Fund. except for arnounts held by the 1989 Trustee to pay the registered owners of 1989 Certificates. after the payment of all amounts owed to the 1989 Trustee under Section IV hereof. shall be rernitted by the 1989 Trustee to the City without further claim therefor. VII. Invalidity; Applicable Law. -3- Pleasanton Sewer Escrov.' Instructions (2).DOC