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• insertions as permitted or required, or as the President or
<br /> Executive Director, in their discretion, shall determine, and
<br /> the execution thereof by the President and Executive Director
<br /> shall be conclusive evidence of such determinations.
<br /> 2 .7) That all covenants, stipulations, obligations, and
<br /> agreements of the Authority contained in this Resolution and
<br /> contained in the Indenture, the Mortgage, and the Lease shall
<br /> be deemed to be covenants, stipulations, obligations, and
<br /> agreements of the Authority to the full extent authorized or
<br /> permitted by law, and all such covenants, stipulations,
<br /> obligations, and agreements shall be binding upon the
<br /> Authority. Except as otherwise provided in this Resolution,
<br /> all rights, powers, and privileges conferred and duties and
<br /> liabilities imposed upon the Authority or this Board by the
<br /> provisions of this Resolution or the Indenture or the Mortgage
<br /> or the Lease, shall be exercised or performed by the Authority
<br /> or by such members of this Board or such officers, board, body,
<br /> or agency thereof as may be required by law to exercise such
<br /> powers and to perform such duties.
<br /> 2 .8) That no covenant, stipulation, obligation, or
<br /> agreement herein contained or contained in the Indenture, the
<br /> Mortgage, or the Lease, shall be deemed to be a covenant,
<br /> stipulation, obligation, or agreement of any member of this
<br /> Board, or any officer, agent or employee of the Authority in
<br /> . that person's individual capacity, and neither this Board nor
<br /> any officer executing the Bonds shall be liable personally on
<br /> the Bonds or be subject to any personal liability or
<br /> accountability by reason of the issuance thereof.
<br /> 2 .9) That, except as herein otherwise expressly provided,
<br /> nothing in this Resolution or in the Indenture or the Mortgage
<br /> expressed or implied, is intended or shall be construed to
<br /> confer upon any person or entity, other than the Authority or
<br /> the Trustee, any right, remedy, or claim, legal or equitable,
<br /> under and by reason of this Resolution or any provision hereof
<br /> or of the Indenture or the Mortgage or any provisions thereof,
<br /> this Resolution, the Indenture, the Mortgage and all of their
<br /> provisions being intended to be and being for the sole and
<br /> exclusive benefit of the Authority and the Holders from time to
<br /> time of the Bonds issued under the provisions of this
<br /> Resolution and the Indenture.
<br /> 2 . 10) That in case any one or more of the provisions of
<br /> this Resolution, or -of the Indenture, or of the Mortgage, or of
<br /> the Lease, or of any of the Bonds issued hereunder shall for
<br /> any reason be held to be illegal or invalid, such illegality or
<br /> invalidity shall not affect any other provision of this
<br /> Resolution, or of the Indenture, or of the Mortgage, or of the
<br /> Lease, or of the Bonds, but this Resolution, the Indenture, the
<br /> Mortgage, the Lease, and the Bonds shall be construed and
<br /> • endorsed as if such illegal or invalid provision had not been
<br /> contained therein. The terms and conditions set forth in the
<br /> 5.
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