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<br />. <br /> <br />. <br /> <br />. <br /> <br />writing presented at the meeting. The Agency and/or the Fiscal <br />Agent by their duly authorized representatives and counsel, may <br />attend any meeting of the Bondholders, but shall not be <br />required to do so. <br /> <br />F. Vote Required. At any Bondholders' meeting there <br />shall be submitted for the consideration and action of the <br />Bondholders a statement of the proposed action for which <br />consent is desired. If the action is consented to and approved <br />by Bondholders holding at least fifty percent (50%) in <br />aggregate principal amount of the Bonds then outstanding <br />(exclusive of issuer-owned Bonds), the chairman and secretary <br />of the meeting shall so certify in writing to the Agency. The <br />certificate shall constitute complete evidence of consent of <br />the Bondholders under the provisions of this Resolution. A <br />certificate signed and verified by the chairman and the <br />secretary of any Bondholders' meeting shall be conclusive <br />evidence and the only competent evidence of matters stated in <br />the certificate relating to proceedings taken at the meeting. <br /> <br />Section 24. Proceedings Constitute Contract; Events of <br />Default and Remedies of Bondholders. The provisions of this <br />Resolution, of the resolutions providing for the sale of the <br />Bonds and awarding the Bonds and fixing the interest rate or <br />rates thereon, and of any other resolution supplementing or <br />amending this Resolution, shall constitute a contract between <br />the Agency and the Bondholders. The provisions of any <br />amendment shall be enforceable by any Bondholder for the equal <br />benefit and protection of all Bondholders similarly situated by <br />mandamus, accounting, mandatory injunction or any other suit, <br />action or proceeding at law or in equity that is now or may <br />hereafter be authorized under the laws of the State of <br />California in any court of competent jurisdiction. This <br />contract is made under and is to be construed in accordance <br />with the laws of the State of California. The following <br />provisions shall not limit the generality of the foregoing. <br /> <br />A. Events of Default. <br />constitute an event of default: <br /> <br />Each of the following shall <br /> <br />(1) Default in the due and punctual payment of <br />any installment of interest on any Bond when the <br />interest installment becomes due and payable; <br /> <br />(2) Default in the due and punctual payment of <br />the principal and premium, if any, of any Bond when <br />the principal becomes due and payable, whether at <br />maturity, by declaration or otherwise; <br /> <br />(3) Default made by the Agency in the observance <br />of any of the covenants, agreements or conditions <br />contained in this Resolution or in the Bonds, where <br />the default continues for a period of thirty (30) days <br />following written notice to the Agency; or <br /> <br />12-02-85 <br />9559p/228l/01 <br /> <br />-34- <br />