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2005-79 AUTHORIZING THE ISSUANCE OF BONDS AND AGREEMENTS
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2005-79 AUTHORIZING THE ISSUANCE OF BONDS AND AGREEMENTS
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12/4/2015 11:39:39 AM
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Resolution/Ordinance
Res Ord Num
2005-79
Res Ord Title
AUTHORIZING THE ISSUANCE OF NOT TO EXCEED 75,000,000 ILLINOIS FINANCE AUTHORITY AND CITY OF DECATUR FIRST HOME: ILLINOIS FIXED RATE SINGLE FAMILY MORTGAGE REVENUE BONDS
Approved Date
8/29/2005
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or administrative proccedings, or claims arising or resulting from, or in any way connected with any <br /> violation of law or breach of this Agrcement resulting from an act or omission of the Compliance Agent, its <br /> agents or employees hereunder. If any suit, action or proceeding is brought against the Issuer or any <br /> Indemnified Person, that suit, action or proceeding shall be defended by legal counsel to the Issuer or the <br /> Compliance Agent, as the Issuer shall determine. If the defense is by legal counsel to the Issuer, the <br /> Compliance Agent shall indemnify the Issuer and Indemnified Persons for the reasonable cost of that <br /> defense including reasonable legal counsel fees. If the Issuer determines that the Compliance Agent shall <br /> defend the Issuer or any Indemnified Person, the Compliance Agent shall nnmediately assuxne the defense <br /> at its own cost. Neither the Issuer nor the Compliance Agent shall be liable for any settlement of any <br /> proceeding made without each of their consent(which consent shall not be unreasonably withheld). <br /> Section 7. Notice of Amendment. The Trustee hereby agrees to notify promptly the <br /> Compliance Agent of an amendment to the Agreement and the Indenture and shall deliver promptly by <br /> regular mail a copy of such amendment to the Compliance Agent. <br /> Section 8. Term of Compliance Agreement. Subject to the provisions of Sections 2(b) and 6 <br /> herein, and unless otherwise ter�ninated as herein provided, this Compliance Agreement shall commence as <br /> of the date hereof and end on the date the Bonds are no longer Outstanding. ' <br /> Section 9. Amendment of the Compliance Agreement. Any amendment, modification, or I, <br /> alteration of this Compliance Agreement must be agrced to in writing by all parties hereto. <br /> Section 10. Construction of Compliance Agreement. This Compliance Agreement shall be <br /> construed in accordance with the laws of the State of Illinois, and the obligations, rights and remedies of the <br /> parties hereunder shall be determined in accordance with such laws. <br /> I Section 11. Compliance Agreement Counterparts. This Compliance Agreement may be <br /> executed in several counterparts, each of which shall be an original and all of which shall constitute but one <br /> and the same instrument. <br /> Section 12. Notices. Except as otherwise provided herein, all notices, certificates or other <br /> communications required hereunder shall be sufficiently given and shall be deemed given when delivered by <br /> registered or certifie�i mail, postage prepaid, return receipt requestad, addressed to the Notice Address of <br /> the party set forth in the Agreement. <br /> Section 13. Severability. In the event any provision of this Compliance Agreement shall be held <br /> or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render <br /> unenforceable any other provision hereof. <br /> Section 14. Compliance Agent Not to Resign. The Compliance Agent shall have no right to <br /> resign from its duties and obligations hereunder;provided, however, that the Compliance Agent shall have <br /> the right from time to time, without the consent or approval of the Issuer or the Trustee, to delegate to any <br /> entity which is affiliated with the Compliance Agent some or all of the duties of the Compliance Agent <br /> hereunder, and following any such delegation, such delegate and Compliance Agent shall have joint and <br /> several responsibility for performing such duties. The Compliance Agent shall also have the right from <br /> time to time, with the prior written consent of the Issuer, to delegate any of the abov�mentioned duties of <br /> the Compliance Agent to any entity which is not affiliated with the Compliance Agent and, following such <br /> delegation, such delegate shall have sole and exclusive responsibility for performing such duties. <br /> -4- <br />
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