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County institutes corrective action within the notice period, no Event of Default will <br /> be deemed to have occurred so long as the County diligently pursues remedial <br /> action. <br /> (e) Any warranty, representation or statement made by the County in this <br /> Agreement, the Bonds or in the Deed of Trust is found to be incorrect or misleading <br /> in any material respect as of the Closing Date. <br /> (f) Any lien, charge or encumbrance (other than Permitted <br /> Encumbrances) prior to or affecting the validity of the Deed of Trust is found to <br /> exist, or proceedings are instituted to enforce any lien, charge or encumbrance <br /> against the Mortgaged Property and such lien, charge or encumbrance would be <br /> prior to the lien of the Deed of Trust. <br /> Section 10.02. Acceleration. If any Event of Default is continuing, then (a) <br /> the Trustee, by notice to the County, or (b) the Majority Owners, by notice to the <br /> County and the Trustee, may declare the principal of and accrued interest with <br /> respect to the Bonds to be due and payable immediately, and such principal and <br /> interest will thereupon become and be immediately due and payable. The Trustee <br /> must immediately give notice of any acceleration to all Owners. The Trustee may <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 10.03. Other Remedies. If an Event of Default is continuing, the <br /> Trustee may pursue any remedy at law or in equity to collect the principal or <br /> interest with respect to the Bonds or to enforce the performance of any provision of <br /> this Agreement, the Bonds, or the Deed of Trust, including by foreclosure on the <br /> Mortgaged Property. <br /> The Trustee may maintain a proceeding even if it does not possess any of the <br /> Bonds or does not produce any of them in the proceeding. A delay or omission by <br /> the Trustee or any Owner in exercising any right or remedy accruing upon an Event <br /> of Default does not impair the right or remedy or constitute a waiver of or <br /> acquiescence in the Event of Default. No remedy is exclusive of any other remedy. <br /> All available remedies are cumulative. <br /> Section 10.04. Waiver of Past Defaults. The Majority Owners, by notice to <br /> the Trustee, may waive an existing Event of Default and its consequences. When an <br /> 40 <br />