About API Terms of Use

I have a question about the following terms and conditions of the Google Custum Search API.
3. Information Rights and Privacy "Google and its wholly-owned subsidiaries may retain and use information collected through your use of the Services, subject to the terms of the Privacy Policy (http://www.google.com/privacy.html or such other URLs provided by Google from time to time)."

How long is the information I enter in Google Custum Search API queries retained? And what kind of use is it used for?
Is it possible to opt out?

Best regards.

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