Common use of Escrow Agent's Fees Clause in Contracts

Escrow Agent's Fees. The Escrow Agent’s fees and costs for and in carrying out the provisions of this Agreement have been fixed, which fees and costs are to be paid by the City as they are due from funds of the City or from funds other than the principal amount of the deposit in the Escrow Fund on the date hereof. The City will bear all costs of publication and mailing of notices required by this Agreement and the resolutions authorizing the issuance of the Refunded Bonds. The City agrees to indemnify the Escrow Agent, to the extent permitted by law, against any liability which it may incur while acting in good faith in its capacity as Escrow Agent except for its own negligence, misconduct or default, such indemnification including, but not limited to, any court costs and reasonable attorneys’ fees. Any costs, fees or other expenses of the Escrow Agent under this Agreement may not, however, be paid from the principal amount of the deposit in the Escrow Fund on the date hereof. The Escrow Agent is not liable for any loss resulting from any investment made at the direction of the City pursuant to the terms and provisions of this Agreement.