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e e owner of any of lhe Bonds shall be entitled to a writ of mandamus issued by a court of proper jurisdiction compelling and requiring lhe Council and olher officers of lhe Issuer to observe and perform any covenant, obligation, or condition prescribed in this Ordinance. No delay or omission by any owner to exercise any right or power accruing to such owner upon default shall impair any such right or power. or shall be construed to be a waiver of any such default or acquiescence lherein. and every such right or power may be exercised from time to time and as often as may be deemed expedient. The specific remedies mentioned in this Ordinance shall be available to any owner of any of the Bonds and shall be cumulative of all other existing remedies. SECTION 9. DEFEASANCE OF BONDS. (a) Any Bond and lhe interest lhereon shall be deemed to be paid, retired, and no longer oUlStanding (a "Defeased Bond") within the meaning of this Ordinance, except to the extent provided in subsection (d) of lhis Section 10, when payment of the principal of such Bond, plus interest thereon to the due date (whether such due date be by reason of maturity, upon redemption, or otherwise) either (i) shall have been made or caused to be made in accordance wilh lhe terms lhereof (including the giving of any required notice of redemption) or (ii) shall have been provided for on or before such due date by irrevocably depositing with or making available to the Paying Agenl/Registrar for such payment (A) lawful money of the United States of America sufficient to make such payment or (B) Government Obligations (hereinafter defined) which mature as to principal and interest in such amounlS and at such times as will insure the availability, without reinvestment, of sufficient money to provide for such payment. and when proper arrangemenlS have been made by the Issuer with the Paying Agenl/Registrar for lhe payment of ilS services until all Defeased Bonds shall have become due and payable. At such time as a Bond shall be deemed to be a Def~ed Bond hereunder, as aforesaid, such Bond and the interest thereon shall no.longer be secured by, payable from. or entitled to the benefilS of. the ad valorem !aXes herein levied and pledged as provided in this Ordinance, and such principal and interest shall be payable solely from such money or Government Obligations. (b) Any money so deposited with the Paying Agenl/Registrar may at the written direction of lhe Issuer also be invested in Government Obligations, maturing in the amounlS and times as hereinbefore set fOM, and all income from such Government Obligations received by the Paying Agenl/Registrar which is not required for the payment of the Bonds and interest lhereon, with respect to which such money has been so deposited, shall be turned over to the Issuer, or deposited as directed in writing by the Issuer. (c) The term "Government Obligations" as used in lhis Section. shall mean direct obligations of the United States of America, including obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which may be United States Treasury obligations such as its State and Local Government Series. which may be in book-entry form. Cd) Until all Defeased Bonds shall have become due and payable, the Paying Agent/RegistraI' shall perform the services of Paying Agenl/Registrar for such Defeased Bonds the same as if they had not been defeased, and the Issuer shall make proper arrangements to provide and pay for such services as required by this Ordinance. (e) (Insurance to Come]. SECTION 10. DAMAGED. MUTll..A TED, LOST. STOLEN. OR DESlROYED BONDS. (a) Replacement Bonds. In the event any oUlStanding Bond is damaged, mutilated. lost, stolen, or destroyed. the Paying Agenl/Registr3r shall cause to be printed. executed, and delivered. a new bond of the same principal amount, maturity, and interest rate, as the damaged. mutilated, lost, stolen, or destroyed Bond. in replacement for such Bond in the manner hereinafter provided. (b) Application for Replacement- Bonds. Application for replacement of damaged, mutilated. lost, stolen, or destroyed Bonds shall be made by the registered owner thereof to the Paying Agenl/Registrar. In every case of loss. theft, or destruction of a Bond. the registered owner applying for a replacement bond shall furnish to the Issuer and to the Paying Agent/Registrar such security or indemnity as may be required by them to save each of them harmless from any loss or damage with respect lhereto. Also, in every case of loss, theft, or destruction of a Bond. the registered owner shall furnish to the Issuer and to the Paying Agent/Registrar evidence to their satisfaction of the loss, theft, or destruction of such Bond, as lhe case may be. In every case of damage or