Laserfiche WebLink
,,~,_,, for what PSI does under the agreement, pays for lawyers PSI may hire if PSI even <br />thinks it might have a claim against it, and Marion County has to get PSI's permission to <br />sell any substantial asset or refinance any existing bonded indebtedness. And, by the <br />way, PSI owes Marion County nothing, unless PSI is grossly negligent or acts in bad <br />faith. Frankly, 1 don't think it is legal for Marion County to sign this. This indemnification <br />provision is certainly a one-sided bad deal, even if legal. <br />1've proposed an alternative mutual, tortious acts, third party indemnification <br />agreement. If this is not acceptable, 1 can live without any indemnification provision. <br />But 1 won't sign off on Appendix `A" <br />4. The only governing law that will apply is that of Oregon, the p/ace where this deal <br />was made. <br />5. Addendum paragraphs 5 and 6 add standard required public contract terms. It's <br />the law. We have to have them. <br />6. 1 wonder about the last sentence of paragraph 7 of the agreement. Do you <br />consider it a reasonab/e assumption for the fee proposal that Marion County will <br />purchase bond insurance? If not, this sentence must be stricken. <br />7. You mentioned the term `~o/e managing underwriter"in Appendix `A" Since the <br />appendix will be dropped, should we add /anguage clarifying that there are joint <br />`~- underwriters, PSI is the senior, and SSB is the co-senior? <br />THIS FACSIMILE MAY CONTAIN CONFIDENTIAL ATTORNEY-CLIENT <br />1NFORMATION. IF YOU HAVE RECEIVED THIS TRANSMISSION BY MISTAKE, <br />PLEASE DO NOT REVIEW OR DISCLOSE 1NFORMATION AND CONTACT US <br />IMMEDIATELY. THANK YOU. <br />