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11-13-2024 Council Packet
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11-13-2024 Council Packet
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135242345v3 <br /> <br /> <br />48 <br />Fiscal Agent be full warrant to Fiscal Agent for any action taken or permitted by it under <br />the provisions of this Funding Loan Agreement, but in its discretion Fiscal Agent may in <br />lieu thereof accept other evidence of such matter or may require such further or additional <br />evidence as it may deem reasonable. <br />(h) The recitals herein and in the Governmental Note (except Fiscal Agent’s <br />certificate of authentication thereon) shall not be considered as made by or imposing any <br />obligation or liability upon Fiscal Agent. Fiscal Agent makes no representations as to the <br />value or condition of the Pledged Security or any part thereof, or as to the title of <br />Governmental Lender or Borrower to the Pledged Security, or as to the security of this <br />Funding Loan Agreement, or of the Governmental Note issued hereunder, and Fiscal Agent <br />shall incur no liability or responsibility in respect of any of such matters. <br />(i) Fiscal Agent shall not be personally liable for debts contracted or liability <br />for damages incurred in the management or operation of the Pledged Security except for <br />its own willful misconduct or negligence, and every provision of this Funding Loan <br />Agreement relating to the conduct or affecting the liability of or affording protection to <br />Fiscal Agent shall be subject to the provisions of this Section 7.02(i). <br />(j) Fiscal Agent shall not be required to ascertain or inquire as to the <br />performance or observance of any of the covenants or agreements (except to the extent <br />they obligate Fiscal Agent) herein or in any contracts or securities assigned or conveyed to <br />or pledged with Fiscal Agent hereunder, except Events of Default that are evident under <br />Section 6.01(a) hereof. Fiscal Agent shall not be required to take notice or be deemed to <br />have notice or actual knowledge of any default or Event of Default specified in Section <br />6.01 hereof (except defaults under Section 6.01(a) hereof to the extent they are collecting <br />loan payments hereunder) unless Fiscal Agent shall receive from Governmental Lender or <br />Funding Lender Representative written notice stating that a default or Event of Default has <br />occurred and specifying the same, and in the absence of such notice Fiscal Agent may <br />conclusively assume that there is no such default. Every provision contained in this <br />Funding Loan Agreement or related instruments or in any such contract or security wherein <br />the duty of Fiscal Agent depends on the occurrence and continuance of such default shall <br />be subject to the provisions of this Section 7.02(j). <br />(k) Fiscal Agent shall be under no duty to confirm or verify any financial or <br />other statements or reports or certificates furnished pursuant to any provisions hereof, <br />except to the extent such statement or reports are furnished by or under the direction of <br />Fiscal Agent, and shall be under no other duty in respect of the same except to retain the <br />same in its files and permit the inspection of the same at reasonable times by Funding <br />Lender. <br />(l) Fiscal Agent shall be under no obligation to exercise those rights or powers <br />vested in it by this Funding Loan Agreement, other than such rights and powers which it <br />shall be obliged to exercise in the ordinary course of acting as Fiscal Agent under the terms <br />and provisions of this Funding Loan Agreement and as required by law, at the request or <br />direction of Funding Lender Representative pursuant to Section 6.03 hereof, unless <br />Funding Lender Representative shall have offered to Fiscal Agent security or indemnity
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