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114 <br /> <br />Bondholders; and further provided that no such notice shall be given unless and until any such <br />Default becomes an Event of Default. <br /> <br /> Section 8.08 Inter~Jention in Judicial Proceedings. In any judicial proceeding to which <br /> the Issuer or the City is a party and. which in the opinion of the Trustee has a substantial bearing <br /> on the interest of owners of Bonds issued hereunder, the Trustee may intervene on behalf of <br /> Bondholders and shall 'do so if requested in writing by the owners of at' least fifty-one percent in <br /> the aggegate principal amount of Bonds outstanding hereunder. The fights and 0bligations of <br /> the Trustee under this Section are subject to the approval of the court having jurisdiction in the <br /> premises. <br /> <br /> Section 8.09 Further Investi cation bv Trustee. The resolutions, opinions, certificates and <br />other instruments provided for in tl'fis Indenture may be accepted by the Trustee as conclusive <br />evidence of the facts and conclusions ~tated therein and shall be in full wad_ant; protection and <br />authority to the Trustee for its actions hereunder; but the Trustee may, in its unrestricted <br />discretion, and shall, if requested in writing so to do by the Holders of not less than fifty-one <br />percent in aggregate principal amount of Bonds Outstanding hereunder, cause to be made such <br />independent investigation as it may see fit, and in that event may decline to release any property, <br />or pay over cash, or take other action unless satisfied by such investigation of the truth and <br />accuracy of the matters so investigated. The expense of such investigation shall be paid by the <br />Issuer from funds provided by the City, or, if paid by the Trustee, shall be repaid to it with <br />interest at the lesser of seven percent per annum or the maximum rate Permitted by law, by the <br />Issuer from funds provided by the City or from the Trust Estate. <br /> <br /> Section 8.10 Trustee to Retain Financial Records. The Trustee shall retain all financial <br />statements furnished by the Issuer or the City in accordance with this Indenture so long as any of <br />the Bonds shall be Outstanding. <br /> <br /> Section 8.11 Compensation of Trustee. All advances, counsel fees and other expenses <br />reasonably made or incurred by the Trustee in and about the execution of the trust hereby created <br />and reasonable compensation to the Trustee for its services in the premises shall be paid by the <br />Issuer, 15om funds provided by the City. The compensation of the Trustee shall notbe limited to <br />or by any provision of law in regard to the compensation of trustees Of an express trust. If not <br />paid by the Issuer from funds provided by the.City, the TruStee shall have a first [ien on moneys <br />in its possession (other than money used to discharge Bonds.under Article X), with right of <br />payment prior to payment on account of interest or principal of any Bond issued hereunder, for <br />reasonable compensation, expenses, advances and counsel fees Incurred in and about the <br />execution of the trusts hereby created and exercise and performance of the powers and duties of <br />the Trustee hereunder and the cost and expense incurred in defending against any liability in the <br />promises of any character whatsoever (unless such liability is adjudicated to have resulted from <br />the negligence or willful default of the Trustee). <br /> <br /> Section 8.12 Trustee May Hold Bonds. 'The Trustee and its officers and directors may <br />acquire and hold, or become the pledgee of, Bonds and otherwise deal with the Issuer or the City <br />in the same manner and to the sa.me extent and with like effect as though it were not Trustee <br />hereunder. <br /> <br />1763903vl <br /> <br /> <br />