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SecL~rities in accordance with this Trust Agreement only to the payment of <br />principal, premium, if any, and interest lvith respect to the Certificates. <br />ARTICLE VIII <br />DEFAULTS; REMEDIES <br />Section 8.01. Events of Default. An "Event of Default" is any of the <br />follo~~ring: <br />(a) Default in the payment of the principal with respect to any Certificate <br />when the same becomes due and payable, whether at the stated maturity thereof or <br />upon proceedings for mandatory (but not optional) prepayment. <br />(b) Default in the payment of any installment of interest with respect to <br />any Certificate when the same becomes due and payable. <br />(c) The occurrence of any Event of Default as defined in the Financing <br />Contract. <br />Section 8.02. Acceleration. If any Event of Default occurs and is <br />continuing, then (a} the Trustee, with the Insurer's consent and by notice to the <br />County, or (b) the Majority Owners, ujith the Insurer's consent and by notice to the <br />County and the Trustee, may declare the principal of and accrued interest with <br />respect to the Certificates to be due and payable immediately, and such principal <br />and interest ~~Till thereupon become and be immediately due and payable. The <br />Trustee uTill immediately give notice of acceleration to the Owners and the Insurer. <br />The Trustee, with the Insurer's consent may, and upon the Insurer's direction will, <br />rescind an acceleration and its consequences if all existing Events of Default have <br />been cured or waived, if the rescission would not conflict with any judgment or <br />decree. <br />Section 8.03. Other Remedies. If an Event of Default occurs and is <br />continuing, the Trustee may pursue any available remedy by proceeding at law or <br />in equity to collect the principal or interest with respect to the Certificates or to <br />enforce the performance of any provision of tlus Trust Agreement, the Certificates, <br />the Financing Contract or the Deed of Trust. <br />The Trustee may maintain a proceeding even if it does not possess any of the <br />Certificates or does not produce any of them in the proceeding. A delay or <br />omission by the Trustee or an}r O~~rner in exercising any right or remed}r accruing <br />upon an Event of Default will not impair the right or remedy or constitute a waiver <br />J3862v2 ~3 <br />