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. <br /> E. Termination/Modification. The City's obligations to provide notices of material <br /> events shall terminate upon the legal defeasance, prior redemption or payment in full of all of the <br /> Bonds. This section, or any provision hereof, shall be null and void if the City (1) obtains an <br /> opinion of nationally recognized bond counsel to the effect that those portions of the Rule which <br /> require this section, or any such provision, are invalid, have been repealed retroactively or <br /> otherwise do not apply to the Bonds; and (2) notifies each then existing NRMSIR and the SID, if <br /> any, of such opinion and the cancellation of this section. <br /> Notwithstanding any other provision of this ordinance, the City may amend this <br /> Section 16, and any provision of this Section 16 may be waived with an approving opinion of <br /> nationally recognized bond counsel. <br /> In the event of any amendment or waiver of a provision of this Section 16, the City shall <br /> describe such amendment in the next annual report, and shall include, as applicable, a narrative <br /> explanation of the reason for the amendment or waiver and its impact on the type (or in the case <br /> of a change of accounting principles, on the presentation) of financial information or operating <br /> data being presented by the City. In addition, if the amendment relates to the accounting <br /> principles to be followed in preparing financial statements, (i) notice of such change shall be given <br /> in the same manner as for a material event under subsection C, and (ii) the annual report for the <br /> year in which the change is made should present a comparison (in narrative form and also, if <br /> feasible, in quantitative form) between the financial statements as prepared on the basis of the new <br /> accounting principles and those prepared on the basis of the former accounting principles. <br /> F. Bond Owner's Remedies Under This Section. The right of any Registered Owner <br /> or Beneficial Owner of Bonds to enforce the provisions of this section shall be limited to a right to <br /> obtain specific enforcement of the City's obligations hereunder, and any failure by the City to <br /> comply with the provisions of this undertaking shall not be an event of default with respect to the <br /> Bonds hereunder. For purposes of this section, "Beneficial Owner" means any person who has <br /> the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, <br /> any Bonds, including persons holding Bonds through nominees or depositories. <br /> -20- DOTOM6.DOC 97/08/20 <br />