52-91 Gen Provisions - Sanitary Sewer Spec Oblig Bonds

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to the Issuer and with respect to events of default under subsections (a), (b), (c) and (d) hereof. Section 34. Remedies. (a) Generallv. Upon the occurrence of an event of default known to the Fiscal Agent, the Fiscal Agent may pursue any available remedy, including all remedies set forth in section 133.25 of the Ohio Revised Code (except for the remedy of acceleration referred to in Division (B)(4)(f) of that Section) and including, but not limited to, an action by mandamus or other suit, action or proceeding at law or in equity, to enforce the payment of defaulted principal and interest payments on Bonds or Notes or the performance or compliance with any other obligation or requirements of this General Bond Legislation, any Series Legislation or Bonds or Notes. In this regard, the Issuer hereby affirms that each obligation of the Issuer required to be undertaken pursuant to this General Bond Legislation, any Series Legislation or Bonds or Notes is binding upon the Issuer, and such officer or employee thereof as may from time to time have the authority under law to take such actions as may be necessary to perform all or any part of such obligation, as a duty of the Issuer and of each such officer and employee resulting from an office, trust, or station within the meaning of section 2731.01 of the Ohio Revised Code, providing for enforcement by writ of mandamus. As additional rights and remedies of the Holders of Bonds and Notes, in addition to any other rights or remedies under law, but subject to the terms of this General Bond Legislation, if the Issuer fails to pay Bond Service Charges on Bonds or Notes when due and such failure continues for a period of thirty days, or if the Issuer fails to comply with its covenants and agreements in either this General Bond Legislation or any Series Legislation, the Holders of not less than twenty-five percent (25%) in principal amount of the outstanding Bonds and Notes may appoint a trustee, who may be the Fiscal Agent, to represent those Holders for the purposes provided in this Section. That trustee may, and upon written request of the Holders 6f not less than twenty-five percent (25%) in principal amount of Bonds and Notes then outstanding shall, in its own name, exercise all or any of the powers of such Holders under division (B) (3) of section 133.25, Ohio Revised Code, and in addition may: (i) Bring action for payment of any Bond Service Charges then due on the Bonds or Notes; (ii) By mandamus or other action or proceeding enforce all rights of the Holders of Bonds and Notes, including any right to require the Issuer to aSsess, levy, charge, collect, and apply Pledged Receipts and Additional Pledged Receipts adequate to carry out the provisions of this General Bond Legislation and any Series Legislation with those Holders and to perform its duties under this General Bond Legislation and Chapter 133, Ohio Revised Code. (iii) Bring action upon Bonds or Notes; (iv) By action, require the Issuer to account as if it were the trustee of an express trust for the Holders of Bonds and Notes; or (v) By action, enjoin any acts or things that maÿ be unlawful or in violation of the rights of the Holders of Bonds and Notes. In addition to the foregoing, the trustee shall have all of the powers necessary or appropriate for the exercise of any functions specifically set forth in this section or this General Bond Legislation or any Series Legislation or incident to the general representation of the Holders of those securities in the enforcement and protection of their rights. -26-