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<br />I ':-. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />, ' <br /> <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 />(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 />C. Non-Waiver. Nothing in this Section or in any <br />other provisions of this Resolution, or in the Bonds, or in the <br />coupons, shall affect or impair the obligation of the Agency, <br />which is absolute and unconditional, to pay the principal of <br />and interest on the Bonds to the respective Holders of the <br />Bonds and coupons at the respective dates of maturity, as <br />herein provided, or affect or impair the right, which is also <br />absolute and unconditional, of the Holders to institute suit to <br />enforce the payment by virtue of the contract embodied in the <br />Bonds and coupons. <br /> <br />No remedy conferred upon any Bondholder by the <br />Resolution is intended to be exclusive of any other remedy, but <br />each remedy is cumulative and in addition to every other remedy <br />and may be exercised without exhausting and without regard to <br />any other remedy conferred by the Law or any other law of the <br />State of California. No waiver of any default or breach of any <br />duty or contract by any Bondholder shall affect any subsequent <br />default or breach of any duty or contract or shall impair any <br />rights or remedies on the subsequent default or breach. No <br />delay or omission of any Bondholder to exercise any right or <br />power accruing upon any default shall impair any such right or <br />power or shall be construed as a waiver of any default or <br /> <br />02-22-83 <br />4141P/2306/00 <br /> <br />11 ~ t.J ft, <br /> <br />3At, <br /> <br />-29- <br />