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have continued for a period of thirty days after written notice, <br />by registered or certified mall, to the Issuer and the Company <br />specifying the failure and requiring that it be remedied, which <br />notice may be given by the Trustee in its discretion and shall <br />be given by the Trustee at the written request of the Holders of <br />not less than 25 percent in aggregate principal amount of Bonds <br />then outstanding; <br /> <br />(d) The occurrence and continuance of an Event of Default as defined <br /> in Section 7.1 of the Agreement; <br /> <br />(e) <br /> <br />Any Guarantor shall: (i) admit in writing his inability to pay <br />his debts generally as they become due; (ii) have an order for <br />relief entered in any case commenced by or against him under the <br />federal bankruptcy laws, as now or hereafter in effect; (iii) <br />commence a proceeding under any other federal or state bank- <br />ruptcy, insolvency, reorganization or similar law, or have such <br />a proceeding commenced against him, and either have an order of <br />insolvency or reorganization entered against it or have the <br />proceeding remain undismissed and unstayed for 90 days; (iv) <br />make an assignment for the benefit of creditors; or (v) have a <br />receiver or trustee appointed for him or for the whole or any <br />substantial part of his property. <br /> <br /> The term "default" or "failure" as used in this Article means (i) a <br />default or failure by the Issuer in the observance or performance of any of <br />the covenants, agreements or obligations on its part to be observed or per- <br />formed contained in this Indenture or in the Bonds, or (ii) a default or fail- <br />ure by the Company under the Agreement, in either case, exclusive of any pe- <br />riod of grace or notice required to constitute a default or failure an Event <br />of Default, as provided above or in the Agreement. <br /> <br /> (E) Except for the amendments provided in Sections (A), (B), (C) and <br />(D) of this First Supplement, the terms and provisions of the Original Inden- <br />ture shall continue in full force and effect. <br /> <br />CITY OF LAKEWOOD <br /> <br />By <br /> Title: <br /> <br />ATTEST: <br /> Title: <br /> <br /> By its execution of this First Supplement, AmeriTrust Company <br />National Association hereby accepts its appointments as successor Trustee and <br />Registrar pursuant to Sections 6.09 and 6.11, respectively, of the Original <br />Indenture and the trusts created by the Original Indenture, as supplemented by <br /> <br />-16- <br /> <br /> <br />