Ord 2007-008 - Laserfiche WebLink

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(ii) default 10 the performance or observance of any other covenant, agreement or obligatIOn of the CIty, the failure to perform whIch matenally, adversely affects the nghts of the Owners, mcludmg but not limIted to, theIr prospect or ability to be repaid m accordance wIth thIs Ordmance, and the contmuatIon thereof for a penod of 60 days after notIce of such default IS gIven by any Owner to the CIty SectIOn 10 02 RemedIes for Default. (a) Upon the happemng of any Event of Default, then and in every case any Owner or an authonzed representatIve thereof, mcludmg, but not limIted to, a trustee or trustees therefor, may proceed agamst the CIty, or any offiCIal, officer or employee of the City m theu offiCIal capacIty, for the purpose of protectmg and enforcmg the nghts of the Owners under thIS Ordinance, by mandalTlus or other SUit, actIOn or speCIal proceedmg m eqUity or at law, m any court of competent JurisdIctIOn, for any relief permItted by law, mcludmg the specIfic performance of any covenant or agreement contained herem, or thereby to enJom any act or thmg that may be unlawful or m vIOlatIOn of any nght of the Owners hereunder or any combmatIOn of such remedies (b) It IS proVIded that all such proceedmgs shall be mstItuted and maintamed for the equal benefit of all Owners of CertIficates then outstandmg SectIOn 10 03, RemedIes Not Exclusive (a) No remedy herem conferred or reserved IS mtended to be exclUSIve of any other available remedy or remedIes, but each and every such remedy shall be cumulatIve and shall be 10 addItIon to every other remedy given hereunder or under the CertIficates or now or hereafter eXlstmg at law or m eqUIty; proVIded, however, that notwlthstandmg any other proVISIOn of thIS Ordmance, the nght to accelerate the debt eVidenced by the Certificates shall not be avaIlable as a remedy under thIS Ordmance (b) The exerCIse of any remedy herem conferred or reserved shall not be deemed a waiver of any other available remedy (c) By acceptmg the delivery of a CertIficate authonzed under thIS Ordmance, such Owner agrees that the certIficatIOns reqUired to effectuate any covenants or representatIOns contamed m thIS Ordmance do not and shall never constItute or gIve nse to a personal or pecumary liability or charge agamst the officers, employees or trustees of the City or the City CouncIl. (d) No covenant or agreement contamed 10 the CertIficates, thIS Ordmance or any corollary mstrument shall be deemed to be the covenant or agreement of any member of the CIty CouncIl or any officer, agent, employee or representatIve of the CIty CouncIl m hIS or her mdIvldual capaCIty, and neither the dIrectors, officers, agents, employees or representatIves of the CIty Council nor any person executmg the CertIficates shall be personally liable thereon or be subJect to any personal liabIlity for dalTlages or otherwise or accountabIlity by reason of the Issuance thereof, or any actIOns taken or dutIes performed, whether by virtue of any constItutIOn, statue or rule of law, or by the enforcement of any assessment or penalty, or otherwise, all such liability bemg expressly released and waIved as a condItIon of and m conSIderatIOn for the Issuance of the CertIficates San Marcos CTRCO 2007A Ordinance 26