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i Oregon, and shall have (or its parent company or holdinb company shall have) capital stock and
<br />2 surplus a~bregating at least $~0,000,000.
<br />3
<br />a (K) TRAiVSFER OF RIGHTS AND PROPERTY TO SUCCESSOR TRUSTEE. Any successor
<br />5 Trustee appointed under this Agreement shall execute, acknowledge and deliver to its predecessor
<br />6 Trustee, and also to the County, an instrument accepting such appointment (including but not
<br />7 limited to its appointment as paying agent and certificate registrar hereunder), and thereupon such
<br />8 successor Trustee, without any further act, deed or conveyance, shall become fully vested with
<br />9 all moneys, estates, properties, rights, power, duties and obligations of such predecessor Trustee,
<br />10 with like effect as if originally named as such Trustee; but the Trustee ceasing to act shall
<br />l l nevertheless, on the w7itten request of the County or the successor Trustee, execute, acknowled;_~e.
<br />1? deliver, file and record such instrument of conveyance and further assurance and do such other
<br />i 3 things as may reasonably be required for more fully and certainly vesting and confirming in such
<br />~4 successor Trustee any such lien, states, rights, power and duties, any and all such deeds,
<br />l5 conveyances and instruments in writing shall, on request, and so far as may be authorized by law,
<br />I6 be executed, acknowledged and delivered by the County.
<br />I7
<br />18 (L~ MERCER OR CONSOLIDATION. Any company into which the Trustee may be merged
<br />19 or converted or with which it may be consolidated or any company resulting from any merger,
<br />20 conversion or consolidation to which it shall be a party or any company to which the Trustee may
<br />21 sell or transfer all or substantially all of its corporate trust business shall be the successor to the
<br />22 Trustee without the execution or filing of any paper or the performance of any further act.
<br />23 provided that such company shall: (i) meet the requirements of Section 907(J) above; (ii) be a
<br />?~t bank or trust company organized under the laws of any state of the United States or a national
<br />25 banking association; and (iii) be authorized by law to perform all the duties imposed upon it by
<br />26 this Agreement.
<br />~~
<br />28 (M) APPOINTMENT OF CO-TRUSTEE. There shall be no violation of any law of any
<br />29 jurisdiction (including particularly the law of the State of Oregon) denying or restricting the right
<br />30 of banking corporations or associations to transact business as trustee in such jurisdiction. It is
<br />31 recognized that in case the Trustee deems that by reason of any present or future law of any
<br />3? jurisdiction it may not e~ercise any of the powers, rights or remedies herein granted to the Trustee
<br />33 or hold title to the properties, in trust, as herein granted, or take any action which may be
<br />3~t desirable or necessary that the Trustee appoint an additional individual or institution qualified to
<br />35 act as a trustee under this Agreement as a separate ar co-trustee. The following provisions of this
<br />36 Section 907(M) are adapted to these ends.
<br />37
<br />38 In the event that the Trustee appoints an additional individual or institution as a separate
<br />39 or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity,
<br />40 estate, title. interest, duty, obligation and lien expressed or intended by this Agreement to be
<br />~l exercised by, or vested in or conveyed to the Trustee with respect thereto shall be exercisable by
<br />a? and vest in such separate or co-trustee but only to the extent necessary to enable such separate
<br />43 or co-trustee to exercise such powers, rights and remedies, and every covenant and obligation
<br />FINANCI~G AND TRUST AGREElV1ENT PAGE ~7
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