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provisions of this Agreement with respect to the duties and <br />• obligations of the Escrow Trustee by any court of competent <br />jurisdiction upon the application of the Authority or the holders <br />or owners of not less than five percent (5%) in aggregate principal <br />amount of the 1988 Bonds then outstanding. <br />Section 12. Successor Escrow Trustee. <br />(a) If at any time hereafter the Escrow Trustee shall <br />resign, be removed, be dissolved or otherwise become incapable of <br />acting, or shall be taken over by any governmental official, <br />agency, department or board, a successor Escrow Trustee may be <br />appointed by the owners, holders or agents of not less than fifty- <br />one percent (51~) in aggregate principal amount of the 1988 Bonds <br />then outstanding, by an instrument or concurrent instruments in <br />writing, executed by such owners and filed with the Authority. <br />(b) In the case a vacancy arises in the position of <br />Escrow Trustee, the Authority may appoint a temporary Escrow <br />Trustee to fill such vacancy until a successor Escrow Trustee shall <br />be appointed as provided in Section 12(a), and any such temporary <br />Escrow Trustee shall immediately and without further action be <br />superseded by the Escrow Trustee so appointed. In the event no <br />successor Escrow Trustee is appointed within ninety (90) days after <br />appointment of a temporary Escrow Trustee by the Authority in <br />accordance with Section 13(a), such temporary Escrow Trustee shall <br />become the successor Escrow Trustee. <br />(c) Every such Escrow Trustee appointed pursuant to the <br />provisions of this Section 12 shall be a corporation with trust <br /> <br />-11- <br />