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(4) Modify the terms of payment of principal or of interest ar redemption <br />premium on outstanding Bonds or any of them or impose any condition with <br />respect to such payment; or <br />(5) Change the minimum percentage of the principal amount of the Bonds <br />necessary for consent to such amendment. <br />(c) If at any time the Issuer shall desire to amend this Ordinance under this Section, the <br />Issuer shall send by U.S. mail to each registered owner of the affected Bonds a copy of the <br />proposed amendment. Such published notice shall briefly set forth the nature of the proposed <br />amendment and shall state that a copy thereof is on file at the office of the Issuer for inspection <br />by all holders of such Bonds. <br />(d) Whenever at any time within one year from the date of mailing of such notice the <br />Issuer shall receive an instrument or instruments executed by the holders of at least 51 % in <br />aggregate principal amount of all of the Bonds then outstanding that are required for the <br />amendment, which instrument or instruments shall consent to and approve such amendment, the <br />Issuer may adopt the amendment in substantially the same form. <br />(e) Upon the adoption of any amendatory Ordinance pursuant to the provisions of this <br />Section, this Ordinance shall be deemed to be modified and amended in accordance with such <br />amendatory Ordinance, and the respective rights, duties, and obligations of the Issuer and all <br />holders of such affected Bonds shall thereafter be determined, exercised, and enforced, subject in <br />all respects to such amendment. <br />( fl Any consent given by the holder of a Bond pursuant to the provisions of this Section <br />shall be irrevocable for a period of six months from the date of such consent, and shall be <br />conclusive and binding upon all future holders of the same Bond during such period. Such <br />consent may be revoked at any time after six months from the date of such consent by the holder <br />who gave such consent, or by a successor in title, by filing notice with the Issuer, but such <br />revocation shall not be effective if the holders of 51 % in aggregate principal amount of the <br />affected Bonds then outstanding, have, prior to the attempted revocation, consented to and <br />approved the amendment. <br />For the purposes of establishing ownership of the Bonds, the Issuer shall rely solely upon <br />the registration of the ownership of such Bonds on the registration books kept by the Paying <br />Agent/Registrar. <br />Section 13. DEFAULT AND REMEDIES. <br />(a) Events of Default. Each of the following occurrences or events for the purpose of <br />this Ordinance is hereby declared to be an Event of Default: <br />(i) the failure to make payrnent of the principal of or interest on any of the Bonds when <br />the same becomes due and payable; or <br />28 <br />� • <br />�i • <br />