Agenda - 05-03-2007-5a - Laserfiche WebLink

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25 (g) The County .fails to pay when due any principal of or interest on any of its general obligation bonds. 10.2. Remedies on Default. Upon the continuation of any Event of Default, SunTrust may, without any further demand or notice, exercise any one or more of the following remedies: (a) Declare the unpaid principal components of the Installment Payments, and the accrued interest thereon, immediately due and payable; (b) Proceed by appropriate court action to enforce performance by the County of the applicable covenants of this Contract,. the Deed of Trust or the Project Fund Agreement or to recover for~the breach thereof; and (c) Avail itself of all available remedies under the Deed of Trust, including foreclosure on the Pledged Facilities and recovery of attorneys' fees and other expenses, and of all other remedies available at law or in equity. SunTrust's exercise of remedies is subject to the limitations set forth in Article XII. 10.3. No Remedy Exclusive; Delay Not Waiver. All remedies under this Contract are cumulative and may be exercised concurrently or separately. The exercise of any one remedy will not be deemed an election of such remedy or preclude the exercise of any other remedy. If any Event of Default occurs and is thereafter waived, such waiver will be limited to the particular breach so waived and will not be deemed a waiver of any other breach under this Contract. ARTICLE XI ASSIGNIVIENTS 11.1. County's Assignments. The County will not sell or assign any interest in this Contract without SunTrust's prior written consent. 11.2. Bank's Assignment. SunTrust may, at any time and from time to time, assign all or any part of its interest in this Contract including, without limitation, SunTrust's rights to receive Installment Payments. Any assignment made by SunTrust or any subsequent assignee shall not purport to convey any greater interest or rights than those held by SunTrust pursuant to this Contract. 97562v1 25