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1 Code throughout the term of the Tax-Exempt Obligations in order to preserve thei status as Tax- ~ 2 Exempt Obligations. The Trustee covenants that, while recognizing that investment of Tax-Exempt 3 Obligation proceeds will be at the direction of the County, should the County file ith the Trustee, 4 or should the Trustee receive an Opinion of Bond Counsel, to the effect that any prop sed investment 5 or other use of proceeds of the Tax-Exempt Obligations would cause the Tax-Exe pt Obligations 6 to become "arbitrage bonds," then the Trustee will comply with any instructions f the County or 7 Certificate Counsel regarding such investment or use so as to prevent the Tax-Exe pt Obligations 8 from becoming "arbitrage bonds." 9 10 , ARTICLE VI ~~ 11 I DEFAULT PROVISIONS 12 AND REMEDIES OF TRUSTEE !~ 13 14 15 SECTION 601. EVENTS OF DEFAULT; EVENT OF TERMINATION; ACC LERATION AND 16 DRAWS UPON INSURANCE POLICY. Any of the following events occurring sh 11 constitute an 17 "Event of Default" under this Agreement: 18 19 (a) Default in the due and punctual payment of any Appropriated Fin cing Payment; 20 and '1 22 (b) Default in the performance or observance of any other obligatio or condition on 23 the part of the County in the Agreement or in the Certificates, and the co tinuance thereof 24 for a period of 60 days after written notice is given by the County, the Insu r or the Trustee 25 to the County. 26 27 Promptly upon becoming aware of the occurrence of an Event of Defau t hereunder, the 28 Trustee shall give written notice thereof to the County, the Credit Provider and t e Owners of the 29 Certificates. 30 31 SECTION 602. ANNULMENT OF DECLARATION OF ACCELERATION FO LOWING EVENT ;2 OF DEFAULT. If, after the principal of the Certificates has been declared to be d and payable by~ 33 reason of an Event of Default, there are performed or paid all things in respect of which there may 34 have been a default hereunder, and payment has been made of the reasonable char es and expenses 35 incurred in connection therewith by the County, the Trustee, the Credit Provid r or the Owners, 36 including the Trustee's, the County's and the Credit Provider's reasonable attor eys' fees, and no 37 Event of Default hereunder is then continuing, all Events of Default having be n either cured or 38 waived, then, in every such case, the Trustee shall annul such declaration and its c nsequences, and 39 such annulment shall be binding upon all Owners of Certificates then Outstan ing; but no such 4o annulment shall extend to or affect any subsequent default or impair any right or r medy consequent 41 thereon. The Trustee shall forward a copy of any such annulment notice pursuant to this paragraph ~ PAGE 36 FINANCING AND TRUST AGREEMENT