Agmt16 Golden State Finance Authority JPA

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the Authority's office is located) Widiln 12 nlontlis afier the end of the fiscal vear. C. In miy year in which (.lie munial budget of the Authority does not exceed five thousmid dollars (55),000.00), the Board allay, upon unanimous approval of dic Board, replace the annual audit with all elistung one-year period, but ill no event for a period longer than two fiscal years. 16. Dunes of Members or Associate Members; Breach If ally Nilcinbcr or Associate Member shall default in performing any covenant contained liereili, sucli default shall not excuse that NIember or Associate ileniber from fullilluig its other obligations licretnider, and such defaulting Member or .=Associate Member shall remain liable for the perlomimlce of all covenants liereot. Each Member or Associate Member hereby declares that this Agreement is entered into for the benefit of the Authority created Hereby, wid eacli Nleniber or Associate Member Hereby grants to the Authority the right to enforce, by whatever lawful means die Autliority cleenls appropriate, all of' the obligations of each of the parties Hereunder. Eich acid all of the reinedles given to the Authority hereunder or by any law now or hereafter enacted are cunwlative, mid the exercise of one right or remedy shall not impair Clic right ol' the Authority to any or all other renicclies. 17. Indemnification To the full extent perinitted by law, the Board may authorize indcnitiificatiou by dic Authority of any person who is or Avis a Board Delegpte, altenlate, officer, cousulta it, employee or other agent of the Authority, and wllio was or is it party or is threatened to be made a parte to a proceeditig by reason of the fact that such person is or was such a Delegate, alternate, officer, consultant, crllpl(.)yee or other ageut of the Authority. Such indelnlllhcatloll play be made against expenses, juclgnuents, lines, settlements and other mnotints actually and reasonably incurred in connection with stick proceeding, if such person acted in good faith mid in a lnminer such person reasonably believed to be in the best interests of the Authority and, in (lie case of it criminal proceeding, ltad no reasottable cause to believe Ills or her conduct was milawlill and, in Clic case of' an action I)y or 111 (lie right of the Authority, acted with such care, including reasonable inquiry, as an ordinarily prudent person in it like position would use raider similar circumstances. 18. Immunities All of tlic privileges mid ininiunilles Isom liabilities, cxeniptions boil law, ordinances all(] (-tiles, all pension, rcliel', disability, workers' compensation and other bcnelits which apply to the act)%7ty of, olficcrs, agents or en)ployces of any of (lie 111cinbers or Associate Nlenibcrs when performing their respective (inactions, shall apph to them to the sante degree and extent while cu,;agcd its Delegates or otherwise as an officer. agent or outer representative of the Authority or while cligaged in the performance ol' airy of their finictions or duties under the provisions of this ATTY/AGR/2016.086/CALIFORNIA HOME FINANCE AUTHORITY REV: 04-29-16 FF Page 10 of 14