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<br />(g) Proper officers of the City charged with the responsibility of issuing <br />the Bonds are hereby directed to make, execute and deliver certifications as to <br />facts, estimates and circumstances in existence as of the Closing Date and stating <br />whether there are any facts, estimates or circumstances that would materially <br />change the City's current expectations. <br /> <br />(h) The covenants and representations made or required by this Section <br />are for the benefit of the Holders and may be relied upon by the Holders and bond <br />counsel for the City. <br /> <br />ARTICLE X <br />DEFAULT AND REMEDIES <br /> <br />Section 10.01. Events of Default. <br /> <br />Each of the following occurrences or events for the purpose of this Ordinance <br />is hereby declared to be an "Event of Default," to-wit: <br /> <br />(i) the failure to make payment of the principal of or interest on <br />any of the Bonds when the same becomes due and payable; or <br /> <br />(ii) default in the performance or observance of any other <br />covenant, agreement or obligation of the City, the failure to perform which <br />materially, adversely affects the rights of the Holders, including but not <br />limited to, their prospect or ability to be repaid in accordance with this <br />Ordinance, and the continuation thereof for a period of 60 days after notice <br />of such default is given by any Holder to the City. <br /> <br />Section 10.02. Remedies for Default. <br /> <br />(a) Upon the happening of any Event of Default, then and in every case <br />any Holder or an authorized representative thereof, including but not limited to, a <br />trustee or trustees therefor, may proceed against the City for the purpose of <br />protecting and enforcing the rights of the Holders under this Ordinance, by <br />mandamus or other suit, action or special proceeding in equity or at law, in any <br />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 <br />enjoin any act or thing that may be unlawful or in violation of any right of the <br />Holders hereunder or any combination of such remedies. <br /> <br />(b) It is provided that all such proceedings shall be instituted and <br />maintained for the equal benefit of all Holders of Bonds then outstanding. <br /> <br />Section 10.03. Remedies Not Exclusive. <br /> <br />(a) No remedy herein conferred or reserved is intended to be exclusive of <br />any other available remedy or remedies, but each and every such remedy shall be <br /> <br />0406s <br /> <br />-21- <br />