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<br />( <br /> <br />í <br /> <br />(h) The Fiscal Agent shall not be required to give any bond or <br />surety in respect of the execution of the said trusts and powers or otherwise in <br />respect of the premises. <br /> <br />(i) Notwithstanding anything elsewhere in this Ordinance contained, <br />the Fiscal Agent shall have the right, but shall not be required, to demand, in <br />respect of any action whatsoever within the purview of this Ordinance, any <br />showings, certificates, opinions, appraisals or other information, or corporate <br />action or evidence thereof, in addition to that by the terms hereof required as <br />a condition of such action by the Fiscal Agent, deemed desirable for the purpose <br />of establishing the right of the Issuer to the taking of any other action by the <br />Fiscal Agent. <br /> <br />(j) Before taking action under Section 34 hereof, the Fiscal Agent <br />may require that a satisfactory indemnity bond be furnished for the reimbursement <br />of all expenses to which it may be put and to protect it against all liability, <br />except liability which is adjudicated to have resulted from its negligence or <br />willful misconduct by reason of any action so taken. <br /> <br />(k) Unless otherwise provided herein, any moneys received by the <br />Fiscal Agent under this Ordinance shall, until used or applied as herein <br />provided, be held in trust for the purposes for which they were received but need <br />not be segregated from other funds except to the e"tent required by this <br />ordinance or by law. The Fiscal Agent shall not be under any liability for <br />interest on any moneys received hereunder except such as may be agreed upon with <br />the Issuer. <br /> <br />section 26. Indemnification. No prov~s~on of this General Bond <br />Legislation shall be construed to relieve the Fiscal Agent and Registrar from <br />liability for its negligent action, its negligent failure to act, or its willful <br />misconduct, except that: <br /> <br />(a) the Fiscal Agent and Registrar shall not be liable for any error of <br />judgment made in good faith, unless it shall be proved that it was negligent in <br />ascertaining the pertinent facts; and <br /> <br />(b) no provision of this General Bond Legislation or any Series <br />Legislation shall require the Fiscal Agent and Registrar to expend or risk its <br />own funds or otherwise incur any financial liability in the performance of any <br />of its duties hereunder, or in the exercise of any of its rights or powers, if <br />it shall have reasonable grounds for believing that repayment of such funds or <br />adequate indemnity against such risk or liability is not reasonably assured to <br />it. <br /> <br />The Issuer also covenants to indemnify the Fiscal Agent and Registrar <br />for, and to hold it harmless against, any loss, liability or expense incurred <br />without negligence or bad faith on the part of the Fiscal Agent and Registrar and <br />arising out of or in connection with the acceptance or administration of this <br />trust and its duties hereunder, including the costs and expenses of defending <br />itself against any claim of liability in the premises. <br /> <br />Section 27. Dealina in Bonds and Notes. The Fiscal Agent and <br />Registrar, and any of their directors, officers, employees or agents, may in good <br />faith, become the owners of Bonds and Notes issued pursuant to this Ordinance and <br />the applicable Series Legislation with the same rights which they would have <br />hereunder if the Fiscal Agent and Registrar were not such. <br /> <br />Section 28. Meraer or Consolidation of Fiscal Aaent and Reaistrar. <br />Anything herein to the contrary notwithstanding, <br /> <br />(a) any corporation or association (i) into which the Fiscal Agent and <br />Registrar may be converted or merged, (ii) with which the Fiscal Agent and <br /> <br />-21- <br />