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the t.ime outstanding to inspect the Utility atad a11 recordb, accouata aad de?ta of the UC 11: ty at e?11 reesone?ble t imes. A copy of such aanusl report wi l l be Purni she3 upan request t o any holder of the Bonds. (C) It vill pmploy competent end exptrienced mnnagemGnt for the operation of the ULility_ (D) It rrill segregete the reveAU?es, 1Lnds anci propcrtiea ot the Utility from sll nther funds sAnd propertlee of the Municipality, and v311 obaerve and pertorm &.11 ef ita ggreemez,ts and obligetions provided far by the Bonda, th e Mo rc.gage , or Lh 1 s or<ii ranc e. /lll of the ob.ligatiow under tbis Sect1on 8 am hereby established as dutiee specificslly required Dy lav sr?d reaulting frat an oPfice, truat or st•ation upon the Nunicip".iit,y Within the mea?ning of R.G. gection 2731-01. 8ection 9. MorLB4ge •- Sn ord+er to secure the payaieat of the principal of and interest nn the ?onda as *.be r:ame ahwll became due and pqysble sad the perfoz-maice nf the obligatiasie ot' the Municipality in thia ordinarice, the Bonds or the Mortgage, the lsacecutivr end Fiseal Ufficer of the Municipslity are hereby wthorized and di- rected in the ruume of and on beh3lf of the Munlcipality to mslce, extcute, scknowledge and deliver Lo the Trustee a good and sufficient first sertgage deed (herein called the Mbrtgage) mortgagina in truat for the holders of the Bonds, all the pmpertfes and e?ssete of aaid Utility nav amed or hereaPter acquired by the Muacipality during the time arv of the Bonda shall renisln autatatxiing and uapaid, in sucb fora sad con- taining such terme, caveaants and canditiona Aot inconaieterrt vith thie ordinance as shs11 be a,pprovcd by such 4rig1ne,.1 Purchasers sad by the Legal Officer of the Mun1 c: pe,l i ty . provisian ah"l be made tuereln that in caae the Municipal2ty aha11 default for more Ltiaa 60 days in the payment of aay BoncL or the iutereat thereoa or for more theri 90 deya in perfoneing azW of the covenacits or reQuiranents of the Mortgags or aP this ordinance, or of the Banda, the Trustee may elect Lo, and upaa request of the ovner$ or hold,ers of 25 per centue in aoouttt of the autatanding Bonds sball, declare the entire sAaunt of outstanding Bonde due and P4Yable, and proceed to foreclose said Mortgage; but auch provieion shall be subject to the coaditian tbat if st wqy tirac after the principal of said Boruis amyr have bten so dtclared due and payable, and before there 8hR11 havr been wiy sale of the prcypertles mortgaged thereuader, all sums P4YeLble under the Mbrtgage, eucept the principal vf Bonds tbereby aecured utich have not reseDed their arturity date, ehall have beea duly paid ind all ezisting defsults ahall harro beem made good., then and in svery such cve such pavment sLall constitute swaiver of such default and its consequences; lut no such wtiver stull ex- tend to or atfect aqy subse?quent Qefsult nor ispair any rights caasaqueat therean : The MortgMe shwll contaln the usuLl cavenar?ts aud pravisioos as to fonclosure arid aalc and as to o2.her remedien of the Trustee and bofldholdera, and Shall pravide Por the a,ppoinUoeat of t receiver with powere etutesary in seaeral equity caaea to opcrat e the Ut i l ity and to appljr the rrv+enues thererot to the payment of the Bonds and intezest thereon, in aecordazce vith this ordi- naACe snd the proviBio4ss of the Mdrtgage, in event oi litigatiau irnrolvirg 211 j ?