2.5b EMRUSR 08-13-2024 - Laserfiche WebLink

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1.9. Records, Statements. Pa�:ment of Interest and Principal. The Agent shall: (a) keep true and accurate accounts of the outstanding principal balance of the Bonds; (b) not less than thirty (30) days before the due date of any principal of or interest on the Bonds, send a statement to the Issuer of the amount which will be required to pay the principal of and interest on the Bonds on such date; (c) pay such of the interest on the Bonds as is due on each stated interest payment date, with the funds received from the Issuer, by check or draft mailed, no later than the interest payment date, to the registered owners of the Bonds as of the close of business on the 15th day (whether or not a business day) of the preceding month, at their addresses as they appear on the Bond Register; (d) pay such of the principal of the Bonds as is due on the stated payment dates, with the funds received from the Issuer, upon presentation of the Bonds for payment; (e) if Agent fails to make timely payment, the Agent will pay all charges from depositories for untimely payments;. (f) forthwith upon presentation and payment of the Bonds cancel the same and retain and dispose of the same in the manner set forth in Section 1.4 hereof; and The Agent shall not be required to pay interest on any funds of the Issuer for any period during -which such funds are held by the Agent awaiting the interest payment date or the presentation of the Bonds for payment. Any funds remaining in the possession of the Agent for payment of the Bonds three (3) years after the date for the payment thereof has expired shall, subject to any applicable escheat law, be returned to the Issuer upon demand. 1.10. Reliance on Documents. The Agent may conclusively rely, as to the truth of the statements and correctness of the opinions expressed therein, on certificates, opinions or other documents furnished to the Agent by or on behalf of the Issuer. The Agent shall not be liable for any error or judgment made in good faith by or on behalf of Agent in the performance of the duties of Agent herein. 1.11. Delivery of Records to Issuer; Retention. The Agent may, from time to time at its discretion, deliver to the Issuer, for safekeeping or disposition by the Issuer in accordance with law, such records accumulated in the performance of its duties as it may deem expedient, and the Issuer assumes all responsibility- for any failure thereafter to produce any paper, record or document so returned, if and when required. Section 2. Issuer's Duties. 2.1 Provision of the Executed Bonds. The Issuer shall provide the Agent with such executed Bonds as are required to issue the Bonds in exchange for or upon transfer of outstanding Bonds. 2.2 Provision of Funds to pav Principal and Interest. The Issuer may pay the Agent for the interest and principal due by check, however, the check must be received by the Agent for deposit no later than five business days before the debt service payment date in order for the bondholder payments to be released on the payment date. Check payments received from the Issuer after the deadline will result in bondholder payments being released after a three business day clearance. If the Issuer pays by wire, the wire should be sent to the Agent one business day prior to the debt service