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(a) Upon the happening of any Event of Default, then and in every case any Owner or <br /> an authorized representative thereof, including but not limited to, a trustee or trustees therefor, <br /> may proceed against the City for the purpose of protecting and enforcing the rights of the <br /> Owners under this Ordinance, by mandamus or other suit, action or special proceeding in equity <br /> or at law, in any court of competent jurisdiction, for any relief permitted by law, including the <br /> specific performance of any covenant or agreement contained herein, or thereby to enjoin any act <br /> or thing that may be unlawful or in violation of any right of the Owners hereunder or any <br /> combination of such remedies. <br /> (b) It is provided that all such proceedings shall be instituted and maintained for the <br /> equal benefit of all Owners of Certificates then outstanding. <br /> Section 10.03. Remedies Not Exclusive. <br /> (a) No remedy herein conferred or reserved is intended to be exclusive of any other <br /> available remedy or remedies, but each and every such remedy shall be cumulative and shall be <br /> in addition to every other remedy given hereunder or under the Certificates or now or hereafter <br /> existing at law or in equity; provided, however, that notwithstanding any other provision of this <br /> Ordinance, the right to accelerate the debt evidenced by the Certificates shall not be available as <br /> a remedy under this Ordinance. <br /> (b) The exercise of any remedy herein conferred or reserved shall not be deemed a <br /> waiver of any other available remedy. <br /> r <br /> ARTICLE XI <br /> DISCHARGE AND DEFEASANCE <br /> Section 11.01. Defeasance of Certificates. <br /> (a) Any Certificate and the interest thereon shall be deemed to be paid, retired and no <br /> longer outstanding (a "Defeased Certificate") within the meaning of this Ordinance, except to the <br /> extent provided in subsections (c) and (e) of this Section, when payment of the principal of such <br /> Certificate, plus interest thereon to the due date or dates (whether such due date or dates be by <br /> reason of maturity, upon redemption, or otherwise) either (i) shall have been made or caused to <br /> be made in accordance with the terms thereof (including the giving of any required notice of <br /> redemption or the establishment of irrevocable provisions for the giving of such notice) or (ii) <br /> shall have been provided for on or before such due date by irrevocably depositing with or <br /> making available to the Paying Agent/Registrar or an eligible trust company or commercial bank <br /> for such payment (1) lawful money of the United States of America sufficient to make such <br /> payment, (2) Defeasance Securities, certified by an independent public accounting firm of <br /> national reputation to mature as to principal and interest in such amounts and at such times as <br /> will ensure the availability, without reinvestment, of sufficient money to provide for such <br /> payment and when proper arrangements have been made by the City with the Paying <br /> Agent/Registrar or an eligible trust company or commercial bank for the payment of its services <br /> until all Defeased Certificate s shall have become due and payable or (3) any combination of(1) <br /> 37 <br /> SAN MARCOS CTRCO&CAR 2010.Oedmee <br />