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<br />. <br /> <br />. <br /> <br />t <br /> <br />,~ . <br /> <br />bankruptcy laws or any other applicable law of the <br />United States of America, or if a court of competent <br />jurisdiction shall approve a petition, filed with or <br />without the consent of the Agency, seeking <br />reorganization under the federal bankruptcy laws or <br />any other applicable law of the United States of <br />America, or if, under the provisions of any other law <br />for the relief or aid of debtors, any court of <br />competent jurisdiction shall assume custody or control <br />of the Agency or of the whole or any substantial part <br />of its property; <br /> <br />In each event of default described in (1) or (2) above <br />the Fiscal Agent shall, and in each case of default described <br />in (3) or (4) above, the Fiscal Agent shall if requested by the <br />holders of not less than a majority of the aggregate principal <br />amount of the Bonds at the time outstanding (such request to be <br />in writing to the Fiscal Agent and to the Agency), declare the <br />principal of all of the Bonds then outstanding and the interest <br />accrued thereon, to be due and payable immediately. Upon any <br />such declaration the Bonds shall become and shall be <br />immediately due and payable, anything in this Resolution or in <br />the Bonds to the contrary notwithstanding. <br /> <br />The declaration may be rescinded by the owners of not <br />less than a majority of the Bonds then outstanding provided the <br />Agency cures the default or defaults and deposits with the <br />Fiscal Agent of a sum sufficient to pay all principal on the <br />Bonds matured prior to the declaration and all matured <br />installments of interest (if any) upon all the Bonds, with <br />interest at the rate of twelve percent (12%) per annum on the <br />overdue installments of principal and, to the extent the <br />payment of interest on interest is lawful at that time, on such <br />overdue installments of interest, so that the Agency is <br />currently in compliance with all payment, deposit and transfer <br />provisions of this Resolution, and any expenses incurred by the <br />Fiscal Agent in connection with the default. <br /> <br />B. Certain Remedies of Bondholders. Any <br />Bondholder shall have the right, for the equal benefit and <br />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 />05-01-83 <br />4439P/2306/00 <br /> <br />. <br />¥ <br /> <br />2A <br /> <br />-29- <br />¡:¡ -t/ P <br />