11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

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If the principal of all the Bonds of any Series shall have been declared due and payable,and if such declaration shall thereafter have been rescinded and annulled under the provisions of this Article, then, subject to the provisions of paragraph (b) of this Section in the event that the principal of all of the Bonds shall later become due or be declared due and payable,moneys described herein shall be applied in accordance with the provisions of paragraph (a)of this Section. Whenever moneys are to be applied by the Trustee pursuant to the provisions of paragraph(b)of this Section, such moneys shall be applied by it at such times, and from time to time, as the Trustee shall determine,having due regard to the amount of such moneys available for application and the likelihood of additional moneys becoming available for such application in the future;provided that all such moneys to be applied shall be applied first to payment in full of Senior Bonds then due prior to payment of any Subordinate Bonds. Whenever the Trustee shall so apply such funds, it shall fix the date(which shall be an Interest Payment Date unless it shall deem another date more suitable)upon which such application is to be made and upon such date interest on the amounts of principal to be paid on such dates shall cease to accrue. The Trustee shall give such notice as it may deem appropriate of the deposit with it of any such moneys and of the fixing of any such date, and shall not be required to make payment to the holder of any unpaid Bond until such Bond shall be presented to the Trustee for appropriate endorsement or for cancellation if fully paid. Whenever all Bonds and interest thereon have been paid under the provisions of this Section and all expenses and charges of the Trustee and any amounts owed the City under this Indenture or the Loan Agreement have been paid,any balance remaining shall be paid to the persons entitled to receive the same; if no other person shall be entitled thereto,then the balance shall be paid to the Borrower. Section 7.06 Trustee May File Proofs of Claims. In case of the pendency of any receivership, insolvency,liquidation,bankruptcy,reorganization,arrangement,adjustment,composition or other judicial proceeding relative to the City or the Borrower or any other obligor upon the Bonds or the property of the City or the Borrower or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Bonds shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the City and/or the Borrower for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, A. to file and prove a claim for the whole amount of principal,premium, if any,and interest owing and unpaid in respect of the Bonds then outstanding and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee(including any claim for the reasonable compensation, expenses,disbursements and advances of the Trustee, its agents and counsel)and of the Bondholders allowed in such judicial proceedings, and B. to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Bondholder to make such payments to the Trustee,and,in the event that the Trustee shall consent to the making of such payments directly to the Bondholders, to pay to the Trustee any amount due to it for the reasonable compensation,expenses,disbursements,and advances of the Trustee, its agents and counsel. - 51 -