2001 - 10-01-01 Regular Meeting - Laserfiche WebLink

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GO',( 1$ PAGE U6 Escrow Agent except for its own negligence, misconduct or default, such indemnification including, but not limited to, any court costs and reasonable attorneys' fees. 11. Escrow Agent Reports. The Escrow Agent shall, no later than March 1, 2002, furnish the County a written report of the receipts, investments, redemptions and payments of and from the 2001 Refunding Bonds Escrow. Account as of the immediately preceding February 1. . 12. Receipt of Proceedings. Receipt of true and correct copies of the bond order and resolutions authorizing the issuance and providing for the sale of the Refunding Bonds is hereby acknowledged by the Escrow Agent, and reference herein to or citation herein of any provision of said documents shall be deemed to incorporate the same as a part hereof in the same manner and with the same effect as if they were fully set forth herein. 13. Performance on Business Days. Whenever under the terms of this Ag reement the performance date of any act to be done hereunder shall fall on a day which is not a legal banking day in the State of North Carolina, the State of Florida and the State of New York, and upon which the Escrow Agent is not open for business, the performance thereof on the next succeeding business day of the Escrow Agent shall be deemed to be in full compliance with this Agreement. 14. Fees and Expenses. The County shall pay the Escrow Agent reasonable compensation for all services performed by it hereunder and also all its reasonable expenses, charges and other disbursements incurred in and about the administration and performance of its powers and duties hereunder including expenses attributable to mailing notices of redemption. 15. Amendments. In the absence of 100% bondholder approval, amendments to this Agreement shall be limited to (a) the insertion of unintentionally omitted material or the correction of mistakes or clarification of ambiguities, (b) the pledging of additional security to the holders of the Refunded Bonds or (c) the deposit of additional cash or securities in the 2001 Refunding Bonds Escrow Account. All amendments shall be in writing and shall be signed by the County and by the Escrow Agent. 16. Severability. If anyone or more of the covenants or agreements provided in this Agreement on the part of the County or the Escrow Agent to be performed should be determined by a court of competent jurisdiction to be contrary to law, such. covenant or agreement shall be deemed and construed to be severable from the remaining covenants and agreements herein contained and shall in no way affect the validity of the remaining provisions of this Agreement. 17. Representations and Covenants. All the covenants, promises and agreements of the County or of the Escrow Agent shall bind and inure to their respective successors and assigns whether so expressed or not. All representations and. covenants contained herein shall survive the termination of this Escrow Agreement. This Agreement constitutes the complete understanding by all parties to this Agreement. G?0 20