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<br />e
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<br />on a parity with the lien of the Bonds, (ii) give any preference of any Bond over any other Bond, (iii) extend any
<br />waiver of default to subsequent defaults, or (iv) reduce the aggregate principal ronount of Bonds required for consent
<br />to any such amendment, change, modification, or rescission. Whenever the Issuer shall desire to make any
<br />amendment or addition to or rescission of this Ordinance requiring consent of the Owners, the Issuer shall cause
<br />notice of the amendment, addition, or rescission to be given as described above for a notice of redemption.
<br />Whenever at any time within one year after the date of the giving of such notice, the Issuer shall receive an
<br />instrument or instruments in writing executed by the Owners of a majority in aggregate principal amount of the
<br />Bonds then outstanding affected by any such amendment, addition, or rescission requiring the consent of Owners
<br />of Bonds, which instrument or instruments shall refer to the proposed amendment, addition, or rescission described
<br />in such notice and shall specifically cons<?nt to and approve the adoption thereof in substantially the form of the copy
<br />thereof referred to in such notice, thereupon, but not otherwise, the Issuer may adopt such amendment, addition, or
<br />rescission in substantially such fonn, except as herein provided, No Owner may thereafter object to the adoption
<br />of such amendment, addition, or rescission, or to any of the provisions thereof, and such amendment, addition, or
<br />rescission shall be fully effective for all purposes,
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<br />SECTION 21, PAYMENT PROCEDURE PURSUANT TO MUNICIPAL BOND GUARANTY INSURANCE
<br />POLICY, As long as the bond guaranty insurance shall be in full force and effect, the City and the Paying
<br />Agent/Registrar agree to comply with the following provisions:
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<br />(a) If payment of principal or interest due on the Bonds has not been made to the Paying Agent/Registrar in
<br />time to pay the registered owners of the Bonds, the Paying Agent/Registrar or any registered owner to whom such
<br />payment is due shall so notify AMBAC Indemnity Corporation, by telephonic or telegraphic notice, subsequently
<br />confirmed in writing, or written notice by registered or certified mail. Such notice shall specify the amount of the
<br />anticipated deficiency, the Bonds to which such deficiency is applicable, and whether such Bonds will be deficient
<br />as to principal or interest, or both, AMBAC Indemnity, on the later of the date due for payment or within one
<br />business day after receipt of notice of nonpayment, will deposit sufficient money with the United States Trust
<br />Company of New York, as insurance trustee for AMBAC Indemnity or any successor insurance trustee (the
<br />"Insurance Trustee").
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<br />(b) The Paying Agent/Registrar shall, after giving notice to AMBAC Indemnity as provided in (a) above,
<br />make available to AMBAC Indemnity and, at AMBAC Indemnity's direction, to the Insurance Trustee, the
<br />registration books of the City maintained by the Paying Agent/Registrar, and all records relating to the Funds and
<br />Accounts maintained under this Ordinance,
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<br />(c) The Paying Agent/Registrar shall provide AMBAC Indemnity and the Insurance Trustee with a list of
<br />registered owners of Bonds entitled to receive principal or interest payments from AMBAC Indemnity under the
<br />terms of the municipal bond guaranty insurance policy issued by AMBAC Indemnity insuring the payment when due
<br />of the principal of and interest on the Bonds as provided therein (the "Municipal Bond Guaranty Insurance Policy"),
<br />and shall make arrangements with the Insurance Trustee (i) to mail checks or drafts to the registered owners of
<br />Bonds entitled to receive full or partial interest payments from AMBAC Indemnity and (ii) to pay principal upon
<br />Bonds surrendered to the Insurance Trustee by the registered owners of Bonds entitled to receive full or partial
<br />principal payments from AMBAC Indemnity.
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<br />(d) The Paying Agent/RegiSlrar shall, at the time it provides notice to AMBAC Indemnity pursuant to (a)
<br />above, notify registered owners of Bonds entitled to receive the payment of principal or interest thereon from
<br />AMBAC Indemnity (i) as to the fact of such entitlement; (ii) that AMBAC Indemnity will remit to them all or a part
<br />of the interest payments next coming due; (iii) that should they be entitled to receive full payment of principal from
<br />AMBAC Indemnity, they must present and surrender their Bonds together with any appropriate instrument of
<br />assignment for payment to the Insurance Trustee, and not the Paying Agent/Registrar, and (iv) that should they be
<br />entitled to receive partial payment of principal from AMBAC Indemnity, they must present and surrender their Bonds
<br />for payment thereon fIrst to the Paying Agent/Registrar, who shall note on such Bonds the portion of the principal
<br />paid by the Paying Agent/Registrar, and then, along with an appropriate instrument of assignment, to the Insurance
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