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Section 8.14 Merger of Trustee. Any corporation or national banking association into which the
<br /> Trustee may be converted or merged,or with which it may be consolidated,or to which it may sell or transfer
<br /> its trust business and assets as a whole or substantially as a whole, or any corporation or national banking
<br /> association resulting from any such conversion,sale,merger,consolidation or transfer to which it is a party,
<br /> ipso facto,shall be and become successor trustee hereunder and vested with all of the title to the Trust Estate
<br /> and all the trusts, powers, discretions, immunities, privileges and all other matters as was its Predecessor,
<br /> without the execution or filing of any instrument or any further act, deed or conveyance on the part of any
<br /> of the parties hereto,anything herein to the contrary notwithstanding.
<br /> Section 8.15 Resignation or Removal of Trustee. The Trustee may resign and be discharged from
<br /> the trusts created by this Indenture by giving to the City and all Holders thirty days' notice in writing, and
<br /> to the Bondholders notice by certified or registered mail at their addresses as set forth on the registration
<br /> books,of such resignation,specifying a date when such resignation shall take effect. Such resignation shall
<br /> take effect on the day specified in such notice unless previously a successor trustee shall have been appointed
<br /> by the Bondholders as hereinafter provided, in which event such resignation shall take effect immediately
<br /> on the appointment of such successor trustee.
<br /> Any Trustee hereunder may be removed at any time by an instrument or instruments in writing,
<br /> appointing a successor to the Trustee so removed, filed with the Trustee and executed by the a Majority of
<br /> Holders.
<br /> Section 8.16 Appointment of Successor Trustee. In case at any time the Trustee shall resign or shall
<br /> be removed or otherwise shall become incapable of acting,or shall be adjudged a bankrupt or insolvent,or
<br /> if a receiver of the Trustee or of its property shall be appointed, or if a public supervisory office shall take
<br /> charge or control of the Trustee or of its property or affairs, a vacancy shall forthwith and ipso facto be
<br /> created in the office of such Trustee hereunder,and a successor may be appointed by a Majority of Holders
<br /> by an instrument or instruments in writing filed with the Trustee and executed by such Bondholders,
<br /> notification thereof being given to the City,but until a new Trustee shall be appointed by the Bondholders
<br /> as herein authorized,the City shall, subject to the provisions,appoint a Trustee to fill such vacancy. After
<br /> any such appointment by the City, it shall cause notice of such appointment to be mailed within 30 days of
<br /> such appointment to the Holders of all outstanding Bonds,but any new Trustee so appointed by the City shall
<br /> immediately and without further act be superseded by a Trustee appointed in the manner above provided by
<br /> a Majority of Holders whenever such appointment by said Bondholders shall be made.
<br /> If,in a proper case, no appointment of a successor Trustee shall be made pursuant to the foregoing
<br /> provisions of this Section within six months after a vacancy shall have occurred in the office of Trustee,the
<br /> Holder of any Bond hereby secured or any retiring Trustee may apply to any court of competent jurisdiction
<br /> to appoint a successor Trustee. Said court may thereupon,after such notice, if any,as such court may deem
<br /> proper and prescribe, appoint a successor Trustee.
<br /> Section 8.17 Transfer of Rights and Property to Successor Trustee. Every successor Trustee
<br /> appointed hereunder shall execute, acknowledge and deliver to its predecessor and also to the City an
<br /> instrument in writing accepting such appointment hereunder, and thereupon such successor, without any
<br /> further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers,
<br /> trusts, duties and obligations of its predecessor; but such predecessor shall, nevertheless, on the written
<br /> request of the City or of its successor execute and deliver an instrument transferring to such successor all the
<br /> estate,properties,rights,powers and trusts of such predecessor hereunder,and every predecessor trustee shall
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