General Liability of Trustee. The Trustees are empowered to act in their discretion and shall not be personally or individually liable for any act or omission except in the case of negligence, bad faith, fraud, or any liability the Trustees may have vis-à-vis the Unit Owners as provided in Section 7.02 hereof.
General Liability of Trustee. The Trustee is empowered to act in its discretion and shall not be personally or individually liable for any act or omission except in the case of negligence, bad faith or fraud. No action taken or suffered in good faith by the Trustee in reliance upon and in accordance with the written opinion of any counsel or the written advice of any other expert shall in any event constitute negligence, bad faith or fraud within the purview of this Agreement. The Trustee shall not be answerable for the negligence of any experts, provided that the Trustee has selected such experts with due care in good faith. It is acknowledged that the Trustee has taken the Trust Estate as is and without examination. The Trustee shall have no responsibility for any statements made or omitted in any disclosure documents relating to the Units or the Trust Estate and, except as may be required by law, no duty to verify the accuracy or completeness of the same. The Bank of New York and the Trustee will have no duties whatsoever except such duties as are set forth in this Agreement, and no implied covenant or obligation shall be read into this Agreement against the Trustee.
