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I ! I.... , K I L aggregate principal amount of the Bonds then Outstanding, by written notice to the Authority and to the Servicing Agent, may, on behalf of the Owners of all of the Bonds, rescind and annul such declaration and its consequences and waive such default; but no such rescission and annulment shall extend to or shall affect any subsequent Event of Default, or shall impair or exhaust any right or power consequent thereon. Section 8.03. Dther Remedies; Rights of Bond Owners. Upon the occurrence of an Event of Default specified in Section 8.01, the Servicing Agent, on behalf of the Authority, may pursue any available remedy, in addition to the remedy specified in Section 8.02, at law or in equity to enforce the payment of the principal of, premium, if any, and interest on the Outstanding Bonds. No remedy by the terms of this Resolution conferred upon or reserved to the Authority (or to the Bond Owners) is intended to be exclusive of any other remedy, but each and every such remedy shall be cumulative and shall be in addition to any other remedy given to the Authority or to the Bond Owners hereunder or now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any Event of Default specified in Section 8.01 shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or acquiescence therein; such right or power may be exercised from time to time as often as may be deemed expedient. Section 8.04. Right of Bond Owners to Direct Proceedings. Anything in this Resolution to the contrary notwithstanding, the Owners of a majority in aggregate principal amount of the Outstanding Bonds shall have the right, at any time, by an instrument or instruments in writing executed and delivered to the Servicing Agent, to direct the method and place of conducting all proceedings to be taken in connection with the enforcement of the terms and conditions of this Resolution, or for the appointment of a receiver or any other proceedings hereunder, provided that such direction shall not be otherwise than in accordance with the provisions of law and of this Resolution. Section 8.05. Waiver. Upon the occurrence of an Event of Default specified in Section 8.01, to the extent that any rights may then lawfully be waived, neither the Authority, nor anyone claiming through or under it, shall set up, claim or seek to take advantage of any appraisement, valuation, stay, extension or redemption laws of any jurisdiction now or hereafter in force, in order to prevent or hinder the enforcement of this Resolution, and the Authority, for itself and all who may claim through or under it, hereby waives, to the extent that it lawfully may do so, the benefit of all such laws. Section 8.06. Application of Moneys. The Servicing Agent shall deposit in the Bond Fund all moneys received by the Servicing Agent pursuant to any right given or action taken under the provisions of this Article remaining after payment of the costs and expenses of the proceedings resulting in the collection of such moneys and of the expen ses, 1 i abi 1 it i es and advances incurred or made by the Servicing Agent. All moneys in the Bond Fund shall be applied to the payment of the principal and interest then due and unpaid upon the Bonds, without preference or 20