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<br /> (i) the failure to make payment of the principal of <br /> or interest on any of the Bonds when the same becomes due and <br /> payable¡ or <br /> (ii) default in the performance or observance of any <br /> other covenant, agreement or obligation of the City, the <br /> failure to perform which materially, adversely affects the <br /> rights of the Owners, including but not limited to, their <br /> prospect or ability to be repaid in accordance with this <br /> Ordinance, and the continuation thereof for a period of 60 <br /> days after notice of such default is given by any Owner to the <br /> City. <br /> Section 10.02. Remedies for Default. <br /> <br /> (a) Upon the happening of any Event of Default, then and in <br /> every case any Owner or an authorized representative thereof, <br /> including but not limited to, a trustee or trustees therefor, may <br /> proceed against the City for the purpose of protecting and enforcing <br /> the rights of the Owners under this Ordinance, by mandamus or other <br /> suit, action or special proceeding in equity or at law, in any court <br /> of competent jurisdiction, for any relief permitted by law, <br /> including the specific performance of any covenant or agreement <br /> contained herein, or thereby to enjoin any act or thing that may be <br /> 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 <br /> instituted and maintained for the equal benefit of all Owners of <br /> Bonds then outstanding. <br /> Section 10.03. Remedies Not Exclusive. <br /> <br /> (a) No remedy herein conferred or reserved is intended to <br /> be exclusive of any other available .remedy or remedies, but each and <br /> every such remedy shall be cumulative and shall be in addition to <br /> every other remedy given hereunder or under the Bonds or now or <br /> hereafter existing at law or in equity¡ provided, however, that <br /> notwithstanding any other provision of this Ordinance, the right to <br /> accelerate the debt evidenced by the Bonds shall not be available as <br /> a remedy under this Ordinance. <br /> (b) The exercise of any remedy herein conferred or reserved <br /> shall not be deemed a waiver of any other available remedy. <br /> ARTICLE XI <br /> DISCHARGE <br /> Section 11.01. Discharqe bv Pavment. <br /> <br /> When all Bonds have been paid in full as to principal and as <br /> to interest and premium, if any, or when all Bonds have become due <br /> 4327f <br /> -28- <br />