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consent to accept or adopt, on behalf of any registered owner of the Parity Bonds, any plan of <br />reorganization or adjustment affecting the Parity Bonds or any right of any registered owner thereof, <br />or to authorize or empower the Bondowners' Trustee to vote the claims of the registered owners <br />thereof in any receivership, insolvency, liquidation, bankruptcy, reorganization or other proceeding <br />to which the City is a party. <br />(e) Application of Monet/ Collected by Bondo�vners' Trustee. Any money collected by the <br />Bondowners' Trustee at any time pursuant to this section shall be applied in the following order of <br />priority: <br />(1) First, to the payment of the charges, expenses, advances and compensation of <br />the Bondowners' Trustee and the charges, expenses, counsel fees, disbursements and compensation <br />of its agents and attorneys. <br />(2) Second, to the payment to the persons entitled thereto of all installments of <br />interest then due on the Parity Bonds in the order of maturity of such installments and, if the amount <br />available shall not be sufficient to pay in fitll any installment or installments maturing on the same <br />date, then to the payment thereof ratably, according to the amounts due thereon to the persons <br />entitled thereto, without any discrimination or preference. <br />(3) Third, to the payment to the persons entitled thereto of the unpaid principal <br />amounts of any Parity Bonds which shall have become due (other than Parity Bonds previously <br />called for redemption for the payment of which money is held pursuant to the provisions hereto), <br />whether at maturity or by proceedings for redemption or otherwise, in the order of their due dates <br />and, if the amount available shall not be sufficient to pay in full the principal amounts due on the <br />same date, then to the payment thereof ratably, according to the principal amounts due thereon to <br />the persons entitled thereto, without any discrimination or preference. <br />(f) Ditties and Obligations of Bondowners' Trustee. The Bondowners' Trustee shall not <br />be liable except for the performance of such duties as are specifically set forth herein. During an <br />Event of Default, the Bondowners' Trustee shall exercise such of the rights and powers vested in it <br />hereby, and shall use the same degree of care and skill in its exercise, as a prudent person would <br />exercise or use tinder the circumstances in the conduct of their own affairs. The Bondowners' <br />Trustee shall have no liability for any act or omission to act hereunder except for the Bondowners' <br />Trustee's own negligent action, its own negligent failure to act or its own willful misconduct. The <br />duties and obligations of the Bondowners' Trustee shall be determined solely by the express <br />provisions of this ordinance, and no implied powers, duties or obligations of the Bondowners' <br />Trustee shall be read into this ordinance. The Bondowners' Trustee shall not be required to expend <br />or risk its own funds or otherwise incur individual liability in the performance of any of its duties or <br />in the exercise of any of its rights or powers as the Bondowners' Trustee, except as may result fom <br />its own negligent action, its own negligent failure to act or its own willful misconduct. The <br />Bondowners' Trustee shall not be bound to recognize any person as a registered owner of any Bond <br />until title thereto, if disputed, has been established to its reasonable satisfaction. The Bondowners' <br />Trustee may consult with counsel and the opinion of such counsel shall be full and complete <br />authorization and protection in respect of any action taken or suffered by it hereunder in good faith <br />and in accordance with the opinion of such counsel. The Bondowners' Trustee shall not be <br />answerable for any neglect or default of any person, firm or corporation employed and selected by it <br />with reasonable care. <br />(g) Suits by Individual Bondowners Restricted. Neither the registered owner nor the <br />beneficiaI owner of any one or more of Parity Bonds shall have any right to institute any action, suit <br />or proceeding at law or in equity for the enforcement of same unless: (1) an Event of Default has <br />27 <br />