Laserfiche WebLink
removal and storage of such property by the Authority or its duly authorized agents in accordance with <br /> the provisions contained in its Lease Agreement. <br /> (c) Each Member waives any and all claims for damages caused or which may be caused by the <br /> Authority in re-entering and taking possession of its Leased Premises as provided in its Lease <br /> Agreement and all claims for damages that may result from the destruction of or injury to its Leased <br /> Premises and all claims for damages to or loss of any property belonging to such Member that may be <br /> in or upon its Leased Premises. <br /> (d) Each Member agrees that the terms of its Lease Agreement constitute full and sufficient <br /> notice of the right of the Authority to re-lease its Leased Premises in the event of such re-entry without <br /> effecting a surrender of its Lease Agreement, and further agrees that no acts of the Authority in <br /> effecting such re-leasing shall constitute a surrender or termination of its Lease Agreement irrespective <br /> of the term for which such re-leasing is made or the terms and conditions of such re-leasing, or <br /> otherwise. <br /> (e) Each Member further waives the right to any rental obtained by the Authority in excess of <br /> its Lease Payments and conveys and releases such excess to the Authority as compensation to the <br /> Authority for its services in re-leasing its Leased Premises. <br /> Limitation on Remedies <br /> Notwithstanding the foregoing, neither the Authority nor the Trustee shall exercise any <br /> remedies against its Leased Premises to the extent such remedies would generate funds which are <br /> subject to such lien and which are not available to satisfy the obligations of its Lease Agreement or the <br /> Indenture. <br /> No Remedy Exclusive <br /> No remedy conferred in its Lease Agreement upon or reserved to the Authority is intended to <br /> be exclusive and every such remedy shall be cumulative and shall, except as expressly provided in its <br /> Lease Agreement to the contrary, be in addition to every other remedy given under its Lease <br /> Agreement or now or hereafter existing at law or in equity. No delay or omission to exercise any right <br /> or power accruing upon any default shall impair any such right or power or shall be construed to be a <br /> waiver thereof,but any such right and power may be exercised from time to time and as often as may <br /> be deemed expedient. In order to entitle the Authority to exercise any remedy reserved to it in its Lease <br /> Agreement it shall not be necessary to give any notice, other than such notice as may be required in its <br /> Lease Agreement or by law. <br /> Provisions Relating to the Municipal Bond Insurance Policy and the Municipal Bond Insurer <br /> Notwithstanding any other provision of the Indenture, in determining whether the rights of the <br /> Owners will be adversely affected by any action taken pursuant to the terms and provisions of the <br /> Indenture, the Trustee shall consider the effect on the Owners as if there was no Municipal Bond <br /> Insurance Policy. Any provision of the Indenture expressly recognizing or granting rights in or to the <br /> Municipal Bond Insurer may not be amended in any manner which affects the rights of the Municipal <br /> Bond Insurer thereunder without the prior written consent of the Municipal Bond Insurer. <br /> The Municipal Bond Insurer's consent shall be required in addition to Owner consent, when <br /> required, for the following purposes: (i) execution and delivery of any amendment, supplement or <br /> change to or modification of the Indenture or any Lease Agreement, (ii) removal of the Trustee and <br /> selection and appointment of any successor trustee; and (iii) initiation or approval of any action not <br /> described in(i) or(ii) of this paragraph which requires Owner consent. Anything in the Indenture to the <br /> contrary notwithstanding, upon the occurrence and continuance of an Event of Default, the Municipal <br /> Bond Insurer shall, after payment of principal and interest then due, if any, be entitled to control and <br /> direct the enforcement of all rights and remedies granted to the Owners or the Trustee for the benefit of <br /> the Owners under the Indenture and the Municipal Bond Insurer shall also be entitled to approve all <br /> waivers of Events of Default. <br /> Appendix A <br /> Page 25 <br />