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<br /> <br /> <br /> <br /> <br /> the Agency's Plan. The Trust Administrator shall be separately compensated for such service and such <br /> services shall not be deemed to be contrary to the Trust Agreement. <br /> <br /> 3.7 Trust Administrator's Compensation. As may be agreed upon from time to time by the <br /> Agency and Trust Administrator, the Trust Administrator will be paid reasonable compensation for <br /> services rendered or reimbursed for expenses properly and actually incurred in the performance of duties <br /> with respect to the Trust in accordance with Section 53217 of the California Government Code. <br /> <br /> 3.8 Resignation or Removal of Trust Administrator. The Trust Administrator may resign at any <br /> time by giving at least one hundred twenty (120) days written notice to the Plan Administrator and the <br /> Trustee. <br /> <br /> ARTICLE IV <br /> <br /> TRUSTEE'S DUTIES <br /> 4.1 Powers Subject to Duties. The Trustee shall exercise any of the foregoing powers from time <br /> to time as required by any applicable federal or state law. <br /> <br /> 4.2 Records. The Trustee shall maintain or cause to be maintained suitable records, data and <br /> information relating to its functions hereunder. The Trustee shall keep accurate and detailed accounts of <br /> all investments, receipts, disbursements and other actions hereunder. Its books and records relating to <br /> the Trust shall be open to inspection and audit at all reasonable times by the Agency, the Plan <br /> Administrator or their duly authorized representatives. <br /> <br /> 4.3 Accounts. Within ninety days after the close of each Plan Year and within ninety days after <br /> the resignation or removal of the Trustee as provided in Article VI hereof, the Trustee shall render to the <br /> Agency a written account showing in reasonable summary the investments, receipts, disbursements and <br /> other transactions engaged in by the Trustee during the preceding Plan Year or accounting period with <br /> respect to the Trust. Such written accounts shall set forth the assets and liabilities of the Trust. The <br /> Agency or Plan Administrator shall have ninety days after the Trustee's mailing of each such written <br /> account within which to file with the Trustee written objections. Upon the expiration of each such <br /> period, the Trustee shall be forever released and discharged from all liability and accountability to the <br /> Agency, the Plan Administrator and Participants with respect to the propriety of its acts and transactions <br /> shown in such account except with respect to any such acts or transactions as to which the Agency files <br /> written objections within such ninety-day period with the Trustee. <br /> 4.4 Reports. The Trustee shall file such descriptions and reports and shall furnish such <br /> information and make such other publications, disclosures, registrations and other filings as are required <br /> of the Trustee by the Code or any other applicable law or regulation. <br /> <br /> 4.5 Follow Plan Administrator and Investment Manner Direction. The Trustee shall have the <br /> power and duty to comply promptly with all proper directions of the Plan Administrator, the Agency, <br /> and any duly appointed investment manager. Except as to investment directions received from the Plan <br /> Administrator or investment manager, the Trustee shall not act on any directions or requests received <br /> from Participants. <br /> <br /> <br /> <br /> 12 <br /> <br /> 55A-30 <br />