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<br />. <br /> <br />. <br /> <br />. <br /> <br />, , <br /> <br />writing to the Fiscal Agent and to the Agency) with the consent <br />of the Bond Insurer, declare the principal of all of the Bonds <br />then outstanding and the interest accrued thereon, to be due <br />and payable immediately; provided, however, if a policy of bond <br />insurance insuring the payments of principal and interest shall <br />be in force, and if the Agency and/or the insurer shall have <br />promptly paid Bond interest and principal when due, then no <br />such acceleration of maturities shall occur unless requested in <br />writing by the Bond Insurer. Upon any such declaration the <br />Bonds shall become and shall be immediately due and payable, <br />anything in this Resolution or in the Bonds to the contrary <br />notwithstanding. <br /> <br />The declaration may be rescinded by the Bond Insurer <br />if such declaration resulted from a request of the Bond Insurer <br />or otherwise by the owners of not less than a majority of the <br />Bonds then outstanding provided the Agency cures the default or <br />defaults and deposits with the Fiscal Agent a sum sufficient to <br />pay all principal on the Bonds matured prior to the declaration <br />and all matured installments of interest (if any) upon all the <br />Bonds, with interest at the rate of twelve percent (12%) per <br />annum on the overdue installments of principal and, to the <br />extent the payment of interest on interest is lawful at that <br />time, on such overdue installments of interest, so that the <br />Agency is currently in compliance with all payment, deposit and <br />transfer provisions of this Resolution, and any expenses <br />incurred by the Fiscal Agent in connection with the default. <br /> <br />B. Certain Remedies of Bondholders. Any Bondholder <br />or the Bond Insurer shall have the right, for the equal benefit <br />and protection of all Bondholders similarly situated-- <br /> <br />(1) by mandamus, suit, action or proceeding, to <br />compel the Agency and its members, officers, agents or <br />employees to perform each and every term, provision <br />and convenant contained in this Resolution and in the <br />Bonds, and to require the carrying out of any or all <br />covenants and agreements of the Agency and the <br />fulfillment of all duties imposed upon it by the Law; <br /> <br />(2) by suit, action or proceeding in equity, to <br />enjoin any acts or things which are unlawful, or the <br />violation of any of the Bondholders' rights; or <br /> <br />(3) upon the happening of any event of default <br />(as defined in this Section), by suit, action or <br />proceeding in any court of competent jurisdiction, to <br />require the Agency and its members and employees to <br />account as if it and they were the trustees of an <br />express trust. <br /> <br />11-30-84 <br />l282p/2281/04 <br /> <br />-29- <br />