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HomeMy WebLinkAbout0584 i ~ ~ . . {~upon such notice as shall be in accordance with the law of that juris- ,l - !jdiction. In each and every case the Truatee so appointed, without any ~ '':further assurance, shall be vested with all the powers, rights and interest ~ ~;granted to or conferred upon the Truetee herein named, m) Nothing contained in this Deed of Trust shall render liable i~the Truatee becauBe of the doing of any act or the refusal or failure to ~~do any act, or the giving or failing to give any consent herein permitted ':to be done or given by the Trustee nor ahall anything herein establish i; ;iany fiduciary relationship between the Trustee ~ad the holder of the said ~ i bonds. + " n) The Trustee shall not be required to effect or cause to be i1 ~i ;~effected, insurance against fire or damage to the propertq conveyed herein - 4;or to advance any monies to pay insurance premiums, nor to see that the ~4 ;;Sinking Fund is properly kept in force as agreed, nor shall he be required . ;s to take notice or be deetned to have had notice of any default of the Church in the failure to perform any af the conditions of this Deed of Trust, unless I; ?~said Trustee shall have been specifically notified in writing of said de- ~ :':fault; nor shall he be required to take any action hereunder until he shall 3~ i:have been indemnified to his satisfaction by the holders of the bonds herein ~ i~ mentioned, or some of them, against loss or damage on account thereof. ~ CONCERNING THE REGISTRAR-PAYING AGENT ~ ~ E j e~ THE CITIZENS AND SOUTHERN BANK, East Point, Georgia j ~ ~ ~ does not in any way guarantee or act as surety for the payment j ; ! ~ : of these bonds and may not be held liable therefor under any conditions ` ~ (unless due to its own negligence). Its only responsibilitq with respect to funds is to disburse funds paid by the Church in paqment of principal . ~ a ~ and interest due on the bonds, but only as and to the extent funds are ~ ~ ~ , ; deposited by the Church. Moreover, if at any time the amounts provided ~ ~ ~ by the Church is insufficient to pay in full all principal and interest ~ ' i _ ~ ~ ~ then due, the Bank will not make any payments whatever~ even in part,_,un- i ~ i ~ less and until the Church deposits sufficient additional funds to cover ~ ~ ~ ~ ~ ~ such payments in full. If funds are aot deposited by the Church ia suffi- ~ ~ i ' cient amount for this purpose, the holders of said bonds maq not look to j i i the Bank to make up any deficiency. ~ i ~ i ~ - -16- ~ R ~ ~ ~ ~ ~ I - ~~~:'~.,t+ Yi `Y' .rijrn w,~ '~~~~~~~~~~x' _ . ~ ~ .