14-20 Cedar Glen Bond Ordinance Addendums

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proceeding is to be instituted, had and maintained in the manner provided in the Indenture for the benefit of the Holders of all Bonds then outstanding. Nothing in the Indenture is to affect or impair, however, the right of any Holder to enforce the payment of the Bond Service Charges on any Bond owned by that Holder at and after the maturity thereof,at the place, from the sources and in the manner expressed in that Bond. Any action or suit for recovery brought pursuant to the Indenture will be against the Borrower or its assets only, and neither the Trustee or the Holders will have any right to proceed against any assets of the Issuer other than the amounts pledged under the Indenture.No recourse will be had for the payment of the Bonds against any elected or appointed officer, official, employee or agent of the Issuer or any person executing the Bonds. Waivers of Events of Default Except as described below, at any time, in its discretion, the Trustee may waive any Event of Default and its consequences and may rescind and annul any declaration of maturity of principal of or interest on,the Bonds. The Trustee must do so upon the written request of the Holders of (a) at least a majority in aggregate principal amount of all Bonds then outstanding in respect of which an Event of Default in the payment of Bond Service Charges exists, or (b) at least 25% in aggregate principal amount of all Bonds then outstanding, in the case of any other Event of Default. There is not to be so waived, however, any Event of Default described in (a) or (b) under "— Events of Default" above or any declaration of acceleration in connection therewith rescinded or annulled,unless at the time of that waiver or rescission and annulment payments of the amounts provided in the Indenture for waiver and rescission and annulment in connection with acceleration of maturity have been made or provision has been made therefor. In the case of the waiver or rescission and annulment, or in case any suit, action or proceedings taken by the Trustee on account of any Event of Default have been discontinued, abandoned or determined adversely to it, the Issuer, the Trustee and the Holders are to be restored to their former positions and rights under the Indenture, respectively. No waiver or rescission is to extend to any subsequent or other Event of Default or impair any right consequent thereon. Supplemental Indentures Without the consent of, or notice to, any of the Holders, the Issuer and the Trustee may enter into indentures supplemental to the Indenture that are not, in the opinion of the Issuer and the Trustee, inconsistent with the terms and provisions of the Indenture for any one or more of the following purposes: (a) To cure any ambiguity, inconsistency or formal defect or omission in the Indenture; (b) To grant to or confer upon the Trustee for the benefit of the Holders any additional rights,remedies,powers or authority that lawfully may be granted to or conferred upon the Holders or the Trustee; (c) To assign additional revenues under the Indenture; (d) To accept additional security and instruments and documents of further assurance with respect to the Project; -20-