Laserfiche WebLink
referred to and accepts the rights and obligations of the <br />Trustee provided herein, as well as the obligations of Trustee <br />set forth in Section 4 of the Facility Lease, subject to the <br />conditions and terms hereof. <br /> <br /> SECTION 8.02. Duties, Removal and Resignation of <br />the Trustee. The Corporation and the City, or the Owners of a <br />majority in aggregate principal amount represented by the <br />Certificates at the time Outstanding, may by an instrument in <br />writing remove the Trustee initially a party hereto and any <br />successor thereto and may appoint a successor Trustee, but any <br />such successor Trustee shall be a bank or trust company doing <br />business and having a principal corporate trust office in <br />California, having a combined capital (exclusive of borrowed <br />capital) and surplus of at least one hundred million dollars <br />($100,000,000) and subject to supervision or examination by <br />federal or state authorities. If such bank or trust company <br />publishes a report of condition at least annually, pursuant to <br />law or to the requirements of any supervising or examining <br />authority above referred to, then for the purposes of this <br />Section the combined capital and surplus of such bank or trust <br />company shall be deemed to be its combined capital and surplus <br />as set forth in its most recent report of condition so <br />published. <br /> <br /> The Trustee may at any time resign by giving written <br />notice of such resignation to the Corporation, the City and <br />the Owners, which notice to the Owners shall be mailed, first <br />class postage prepaid. Upon receiving such notice of <br />resignation, the Corporation and the City shall promptly <br />appoint a successor Trustee by an instrument in writing; <br />provided, however, that in the event the Corporation and the <br />City do not appoint a successor Trustee within thirty (30) <br />days following receipt of such notice cf resignation, the <br />resigning Trustee may petition the appropriate court having <br />jurisdiction to appoint a successor Trustee. Any resignation <br />or removal of a Trustee and appointment of a successor Trustee <br />shall become effective only upon acceptance of appointment by <br />the successor Trustee. <br /> <br /> SECTION 8.03. Compensation and Indemnification of <br />the Trustee. The Corporation shall from time to time, subject <br />to any agreement then in effect with the Trustee, pay the <br />Trustee compensation for its services and reimburse the <br />Trustee for all its advances and expenditures hereunder, <br />including but not limited to advances to and fees and expenses <br />of accountants, agents, appraisers, consultants, counsel or <br />other experts employed by it in the exercise and performance <br />of its rights and obligations hereunder; provided, further, <br />that the Trustee shall have a lien for such compensation or <br />reimbursement against any moneys held by it in any of the <br /> <br /> 40 <br />1451S <br /> <br /> <br />