Ord 1991-020 - Laserfiche WebLink

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shall be proved that AMERITRUST was negligent in ascertaining the pertinent facts. (c) No provisions of this Agreement shall require AMERITRUST to expend or risk its own funds or otherwise incur any financial liability for performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity satisfactory to it against such risks or liability is not assured to it. (d) AMERITRUST may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, certificate, note, security, or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. Without limiting the generality of the foregoing statement, AMERITRUST need not examine the ownership of any Obligations, but is protected in acting upon receipt of Obligations containing an endorsement or instruction of transfer or power of transfer which appears on its face to be signed by the Owner or an attorney-in-fact of the Owner. AMERITRUST shall not be bound to make any investigation into the facts or matters stated in a resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, certificate, note, security or other paper or document supplied by Issuer. (e) AMERITRUST may consult with counsel, and the written advice of such counsel or any opinion of counsel shall be full and complete authorization and protection with respect to any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. (f) AMERITRUST may exercise any of the powers hereunder and perform any duties hereunder either directly or by or through agents or attorneys of AMERITRUST. Section 5.03. Recitals of Issuer. (a) The recitals contained herein and in the Obligations shall be taken as the statements of the Issuer, and AMERITRUST assumes no responsibility for their correctness. (b) AMERITRUST shall in no event be liable to the. Issuer, any Owner or Owners or any other Person for any amount due on any Obligation except as otherwise expressly provided herein with respect to the liability of AMERITRUST for its duties hereunder. Section 5.04. May Hold Obliqations. AMERITRUST, in its individual or any other capacity, may become an Owner or pledgee of Obligations and may otherwise deal 4l78f -8-