14-20 Cedar Glen Bond Ordinance Addendums

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notified or is deemed to have notice), the Trustee is to exercise such rights and powers vested in it by the Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. Before taking any action under the Indenture, the Trustee may require that a satisfactory indemnity bond be furnished to the Trustee for the reimbursements of all expenses that it may incur and to protect it against all liability by reason of any action so taken, except liability that is adjudicated to have resulted from its negligence or willful default. The Trustee may become the owner or pledgee of the Bonds and otherwise deal with the Issuer and the Borrower with the same rights it would have if it were not the Trustee. The Trustee may at any time resign from the trusts created by the Indenture by giving written notice to the Issuer, the Borrower and to each registered owner of the Bonds then outstanding; provided that no such resignation will take effect until a successor has been appointed and has accepted such appointment as provided in the Indenture or an order of a court of competent jurisdiction allowing the Trustee to resign. Satisfaction and Discharge of the Indenture The lien of the Indenture will be discharged if the Issuer pays or causes to be paid and discharged all the outstanding Bonds, or there are otherwise paid to the Holders of the outstanding Bonds all the Bond Service Charges due or to become due thereon, and provisions are also made for paying all other amounts payable under the Indenture by the Issuer, or under the Loan Agreement, the Regulatory Agreement and the Note by the Borrower. All or any part of the outstanding Bonds will be deemed to have been paid and discharged within the meaning of the Indenture if(a) the Trustee has received in trust and irrevocably committed for such payment, sufficient money, or (b) the Trustee has received, in trust and irrevocably committed for such payment, noncallable direct obligations of or obligations guaranteed as to full and timely payment by the United States of America certified by an independent public accounting firm of national reputation to be of such maturities and interest payment dates and to bear such interest as will, without further investment or reinvestment of either the principal amount thereof or the interest earnings therefrom, be sufficient together with moneyreferred to in(a)above, for the payment, at their maturities, of all payments of Bond g PYm pYm Service Charges on the Bonds to the date of maturity. Any money so held by the Trustee may be invested by the Trustee, but only in noncallable direct obligations of or obligations guaranteed as to full and timely payment by the United States of America having maturities of which, at the option of the Holder, will not be later than,the time or times at which such money will be required for the aforesaid purposes. Covenants and Agreements of the Issuer In addition to any other covenants and agreements of the Issuer contained in the Indenture or the Bond Resolution,the Issuer further covenants and agrees with the Holders and the Trustee as follows: (a) Payment of Bond Service Charges. The Issuer will cause the Bond Service Charges to be paid by the Trustee, solely from the Pledged Revenues received on the dates, at the places and in the manner provided in the Indenture. (b) Pledged Revenues and Assignment of Pledged Revenues. The Issuer will not assign the Pledged Revenues or create or authorize to be created any debt, lien or charge thereon, other than the assignment thereof under the Indenture. -23 -