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Holder, its agents and employees harmless, to the extent allowed by <br />law, against any liabilities, obligations, losses, damages, <br />penalties, claims, actions, suits, cost;, expenses and <br />disbursements of whatever kind or nature, including, without <br />lini.tation, reasonable fees and costs, which it may incur in the <br />exercise and performance of its powers and duties hereunder, and <br />which are not due to its negligence or willful misconduct. <br />Indemnification provided under this section shall survive the <br />termination of this Agreement. <br />The Escrow Holder shall not be liable for any loss resulting <br />from any investment made pursuant to the terms and provisions of <br />this Agreement. The Escrow Holder shall not be liable for the <br />accuracy of the calculations as to the sufficiency of moneys and of <br />the principal amount of the Federal Securities and the earnings <br />thereon to pay the Defeased Bonds. so long as the Escrow Holder <br />applies any moneys, the Federal securities and securities purchased <br />hereunder and the interest earnings therefrom to pay the Defeased <br />Bonds as provided herein, and complies fully with the terms of this <br />Agreement, the Escrow Holder shall not be liable for any <br />deficiencies in the amounts necessary to pay the Defeased Bonds <br />caused by such calculations. <br />Section 12. L. This Agreement shall commence upon its <br />execution and delivery and shall terminate when the Defeased Bonds <br />have been paid and discharged in accordance with the proceedings <br />authorizing the Defeased Bonds, and all amounts held by the Escrow <br />Holder hereunder have been applied in accordance herewith. <br />Section 13. Severability. if any one or more of the cove- <br />nants or agreements provided in this Agreement on the part of the <br />City or the Escrow Holder to be performed should be determined by <br />a Count of competent jurisdiction to be contrary to law, such <br />Covenant or agreements herein contained shall be null and void and <br />shall be severed from the remaining covenants and agreements and <br />shall in no way affect the validity of the remaining provisions of <br />this Agreement. <br />SECTION 14. Amendments to this areement. This Agreement is <br />made for the benefit of the City, the County and the holders from <br />time to time of the Defeased Bonds and it shall not be repealed, <br />revoked, altered or amended in whole or in part without the written <br />consent of all affected holders, the Escrow holder, the County and <br />the City; provided, however, that the City, the County and the <br />Escrow Holder may, without the consent of, or notice to, such <br />holders, enter into such agreements supplemental to this Agreement <br />as shall not adversely affect the rights of such holders and as <br />shall not be inconsistent with the terms and provisions of this <br />Agreement, for any one or more of the following purposes: <br />(a) to cure any ambiguity or formal defect or omission in <br />this Agreement; <br />8 <br />