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

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Section 7.07 Right of Trustee to Act Without Possession of Bonds. All rights of action(including the right to file proof of claim)under or pursuant to this Indenture,the Loan Agreement,the Mortgage,the Subordinate Mortgage or the Bond Resolution, or under any of the Bonds, may be enforced by the Trustee without the possession of any of the Bonds or the production thereof in any trial or other proceeding relating thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its name as Trustee, without the necessity of joining as plaintiffs or defendants any Holders of the Bonds hereby secured,and any recovery of judgment shall be for the equal benefit of the Holders of the outstanding Bonds, subject to the provisions of Section 6.02 with respect to extended Bonds and claims for interest. Section 7.08 Power of Majority of Senior Bondholders. Anything in this Indenture to the contrary notwithstanding,a Majority of Holders of Senior Bonds shall have the right,at any time, by an instrument or instruments in writing executed and delivered to the Trustee,to direct the method and place of conducting all proceedings to be taken under this indenture,the Loan Agreement,or the Mortgage; provided that such direction shall not be otherwise than in accordance with the provisions of law and that the Trustee shall be indemnified as provided in Section 8.06. Section 7.09 Limitation on Suits by Senior Bondholders. No Holder of any Senior Bond shall have any right to institute any suit,action or proceeding in equity or at law for the enforcement of this Indenture, or for the execution of any trust or for any other remedy hereunder or under the Loan Agreement or the Mortgage,unless either(a)such action shall be approved by Holders of not less than - fifty- one percent(51%)in aggregate principal amount of Senior Bonds outstanding,or(b)a Default has occurred of which the Trustee has been notified or of which it is deemed to have notice,the Trustee shall have failed to take action in respect thereof and the Holders of one-fourth(1/4) in aggregate principal amount of Senior Bonds outstanding hereunder shall have (i) made written request to the Trustee and shall have offered it reasonable opportunity either to proceed to exercise the powers hereinbefore granted or to institute such action,suit or proceeding in its own name;and(ii)offered to the Trustee indemnity as provided hereinafter. Notwithstanding the foregoing, no one or more Holders of the Senior Bonds shall have any right in any manner whatsoever to affect,disturb,or prejudice the lien of this Indenture,the or Mortgage by their action or to enforce any right hereunder or thereunder except in the manner herein and therein provided, and that all proceedings at law or in equity shall be instituted,had and maintained in the manner herein provided and for the equal benefit of the Holders of all Senior Bonds outstanding hereunder. Except with respect to express limitations on holders of Subordinate Bonds to take actions and pursue remedies hereunder, nothing in this Indenture shall, however, affect or impair the right of any Bondholder,which is absolute and unconditional,to enforce and bring suit for the payment of the principal of and interest on any Senior Bond at and after the maturity thereof to the respective Holders thereof at the time and place in said Senior Bonds expressed, in accordance with the terms of the Senior Bonds. Section 7.10 Waiver by Bondholders. The Trustee, upon the written request of a Majority of Holders of Senior Bonds,shall waive any Event of Default hereunder and its consequences,except an Event of Default in the payment of the principal of the Bonds at the date of maturity specified therein; provided, however,that an Event of Default caused by the nonpayment of interest on any Series of Senior Bonds shall not be waived unless,prior to such waiver,all arrears of such interest,and all expenses of the Trustee shall have been paid or shall have been provided for by deposit with the Trustee of a sum sufficient to pay the same. In case of any such waiver,the City,the Trustee and the Holders of the Senior Bonds shall be restored - 52 -