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<br /> by the terms of this Ordinance conferred upon <br /> or reserved to th Bondholder i C' intended to be exclusive of any <br /> ..) <br /> other remedy, but each and every such remedy shall be cumulative <br /> and shall be dition to any other remedy given to the Bond- <br /> holder. <br /> No or omission to exercise any right, power <br /> or remedy accruing upon any event: of default shall impair any such <br /> right, power or re edy or shall be construed to be a waiver of any <br /> such event of default or acquiescence therein; and every such <br /> right, power or re edy may be exercised from time to time as often <br /> as may be deemed e pedient. <br /> All ys received pursuant to any right given or <br /> action taken the provisio1ns of this Section or under the <br /> provisions of Art. cle VI of the Loan Agreement (after payment of <br /> the costs and expe ses of the prc)ceedings re,sul ting in the collec- <br /> tion of such mone s and of the expenses, liabilities and advances <br /> incurred or made y the City 01:' the Bondholder) at the t im e 0 f <br /> the occurrence of an event of default shall be deposited in the <br /> Bond Fund and all uch moneys in the Bond Fund shall be applied to <br /> . <br /> the payment of the principal and interest then due and unpaid upon <br /> the Bond to the pe son entitled thereto. <br /> Wheneve moneys are to be applied pursuant to the <br /> provisions of thi Section, such moneys shall be applied at such <br /> times, and from t time, as the Bondholder shall determine. <br /> Wheneve all the principal of and interest on the <br /> , <br /> Bond have been pa d under the provisions of this Section and all <br /> expenses of the ondholder and the City have been paid, any <br /> balance remaining n the Bond Fund shall be paid to the Borrowers. <br /> With re ard to any default concerning which notice <br /> is given to the orrowers under the provisions of this Section, <br /> the City hereby ants the BorI~owers full authority for account <br /> of the City to rform or observe any covenant or obligation <br /> alleged in said n tice not to helve been performed or observed, in <br /> the name and stea of the Ci ty with full power to do any and all <br /> things and acts 0 the same e:lCtent that the City could do in <br /> order to remedy such default. <br /> - -- <br /> - 22 - <br /> ._--.-- - - -.------- -,-- -- -- - - -- ---.- ....~~_._--_.._._-------~..__.._- ._-- .-- -- ---.-- .--- <br />