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(ii) default in the performance or observance of any other covenant,agreement or <br /> obligation of the City,the failure to perform which materially,adversely affects the rights of <br /> the Registered Owners of the Bonds,including,but not limited to,their prospect or ability to <br /> be repaid in accordance with this Ordinance, and the continuation thereof for a period of 60 <br /> days after notice of such default is given by any Registered Owner to the City. <br /> (b) Remedies for Default. <br /> (i) Upon the happening of any Event of Default, then and in every case, any <br /> Registered Owner or an authorized representative thereof, including, but not limited to, a <br /> trustee or trustees therefor,may proceed against the City,or any official,officer or employee <br /> of the City in their official capacity,for the purpose of protecting and enforcing the rights of <br /> the Registered Owners under this Ordinance, by mandamus or other suit, action or special <br /> proceeding in equity or at law,in any court of competent jurisdiction,for any relief permitted <br /> by law,including the specific performance of any covenant or agreement contained herein,or <br /> thereby to enjoin any act or thing that may be unlawful or in violation of any right of the <br /> Registered Owners hereunder or any combination of such remedies. <br /> (ii) It is provided that all such proceedings shall be instituted and maintained for <br /> the equal benefit of all Registered Owners of Bonds then outstanding. <br /> (c) Remedies Not Exclusive. <br /> (i) No remedy herein conferred or reserved is intended to be exclusive of any <br /> other available remedy or remedies,but each and every such remedy shall be cumulative and <br /> shall be in addition to every other remedy given hereunder or under the Bonds or now or <br /> hereafter existing at law or in equity; provided, however, that notwithstanding any other <br /> provision of this Ordinance,the right to accelerate the debt evidenced by the Bonds shall not <br /> be available as a remedy under this Ordinance. <br /> (ii) The exercise of any remedy herein conferred or reserved shall not be deemed <br /> a waiver of any other available remedy. <br /> (iii) By accepting the delivery of a Bond authorized under this Ordinance, such <br /> Registered Owner agrees that the certifications required to effectuate any covenants or <br /> representations contained in this Ordinance do not and shall never constitute or give rise to a <br /> personal or pecuniary liability or charge against the officers,employees or trustees of the City <br /> or the City Council. <br /> (iv) None of the members of the City Council, nor any other official or officer, <br /> agent, or employee of the City, shall be charged personally by the Registered Owners with <br /> any liability, or be held personally liable to the Registered Owners under any term or <br /> provision of this Ordinance,or because of any Event of Default or alleged Event of Default <br /> under this Ordinance. <br /> 31 <br /> Santcos GOB201 e.Ord nn,nar o <br />