82-25 AUTHORIZING, APPROVING, RATIFYING AND CONFIRMING CERTAIN ADDITIONS AND CHANGES TO ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)

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MENT, THE NOTE AND THE MORTGAGE --Events of Defaults and Remedies" herein) ] or (c) above, the holders of not less than 25X in aggregate principal amount of Bonds then outstanding may require the Trustee to accelerate the Bonds. Upon any acceleration of the Bonds, the Trustee is required to im�ediately exercise such rights as it may have under the Note to declare all installments thereof to be immediately due and payable. Upon any such acceleration of the Bonds, the Trustee is also required to present immediately to the Bank a draft for payment under the Letter of Credit of an amount which when added to Eligible Moneys then on deposit in the Bond Fund, will be sufficient to pay in full the principal of, premium, if any, and interest on the Bonds. Upon the occurrence of an event of default the Trustee may pursue any available remedy by action at law or suit in equity to enforce the payment of the principal of, premium, if any, and interest on the Bonds or on the Note then outstanding. The obligation of the Partnership under the Note, the Loan Agreement and the Mortgage are subject to certain limitations. (See "SUMMARY OF CERTAIN PROVISIONS OF THE LOAN AGREEMENT, THE NOTE AND THE MORTGAGE -- Non-recourse Provisions" herein) . Except with respect to any acceleration of the Bonds pursuant to Section 902 of the Indenture, if an event of default shall have occurred, and if requested to do so by the holders of 25% in aggregate principal amount of Bonds then outstanding, and upon being indemnified as provided in the Indenture, the Trustee is required to exercise such one or more of the rights and powers con- ferred pursuant to the remedy provisions of the Indenture as the Trustee, being advised by counsel, deems most expedient in the interest of the Bondholders. No remedy by the terms of the Indenture conferred upon or reserved to the Trustee �or to the Bondholders) is intended to be exclusive of any other remedy, but each and every such remedy is cumulative and in addition to all other remedies given to the Trustee or to the Bondholders under the Indenture, or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default or event of default shall impair any such right or power, or shall be construed to be a waiver of any such default or event of default, or an acquiescence therein; and every such right and power may be exercised from time to time and as often as may be deemed expedient. No waiver of any default or event of default, whether by the Trustee or by the Bondholders, shall extend to or affect any subsequent default or event of default, or impair any rights or remedies consequent thereon.. The holders of a majority in aggregate principal amount of Bonds then outstanding shall have the right, at any time, by an instrument or instruments in writing executed and delivered to the Trustee, to direct the time, method and place of conducting all proceedings to be taken in connection with the enforcement of the terms and conditions of the Indenture, or for the appoint- ment of a receiver or any other proceedings; provided that such direction shall not be otherwise than in accordance with the provisions of law and of the Indenture. 23