14-20 Cedar Glen Bond Ordinance Addendums

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the Loan Agreement, exclusive of any period of grace or notice required to constitute a default or failure in an Event of Default,as provided above or in the Loan Agreement. Notwithstanding anything in the Indenture to the contrary, the Trustee agrees that any cure of any Event of Default under the Indenture made or tendered by the Investor Member will be deemed to be a cure by the Borrower, and will be accepted or rejected by the Trustee on the same basis as if made or tendered by the Borrower. Acceleration Upon the occurrence of an Event of Default described in(a) and (b) under"—Events of Default" above, the Trustee must declare, by a notice in writing delivered to the Borrower, the principal of all Bonds then outstanding (if not then due and payable), and the interest accrued thereon, to be due and payable immediately. For all other Events of Default,the Trustee is to declare upon the written request of the Holders of not less than 25%in aggregate principal amount of Bonds then outstanding the principal of all Bonds then outstanding (if not then due and payable), and the interest accrued thereon, to be due and payable immediately. The provisions described in the preceding paragraph are subject, however, to the condition that if, at any time after declaration of acceleration and prior to the entry of a judgment in a court for enforcement under the Indenture(after an opportunity for hearing by the Issuer and the Borrower), (a) all sums payable under the Indenture (except the principal of and interest on Bonds that have not reached the Maturity Date but which are due and payable solely by reason of that declaration of acceleration), plus interest to the extent permitted by law on any overdue installments of interest at the rate borne by the Bonds in respect of which the default has occurred, have been duly paid or provision have been duly made therefor by deposit with the Trustee,and (b) all existing Events of Default have been cured, then and in every case, the Trustee is to waive the Event of Default and its consequences and rescind and annul that declaration. No waiver or rescission and annulment will extend to or affect any subsequent Event of Default or will impair any rights consequent thereon. Other Remedies; Rights of Holders With or without taking action described under "—Acceleration" above, upon the occurrence and continuance of an Event of Default, the Trustee may pursue any available remedy, including without limitation actions at law or equity to enforce the payment of Bond Service Charges or the observance and performance of any other covenant, agreement or obligation under the Indenture, the Loan Agreement, the Regulatory Agreement or the Note or any other instrument providing security, directly or indirectly, for the Bonds. If, upon the occurrence and continuance of an Event of Default, the Trustee is requested so to do by the Holders of at least 25% in aggregate principal amount of Bonds outstanding, the Trustee(subject to the provisions of the Indenture), is to exercise any rights and powers conferred by the Indenture. No remedy conferred upon or reserved to the Trustee (or to the Holders) by the Indenture is intended to be exclusive of any other remedy. Each remedy is to be cumulative and in addition to every other remedy given under the Indenture or otherwise to the Trustee or to the Holders. No delay in - 17-