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~1 2 3 4 5 6 7 8 9 lo 11 12 13 14 15 16 17 18 19 20 21 ~2 3 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 ~ to the County, the Credit Provider, S&P (if then rating the Certificates), Moody's (i~ then rating the Certificates) and the Owners. 'I SECTION 603. ACTIONS OF TRUSTEE AND REMEDIES UPON EVENT OF DEFAULT. Upon the occunence of any one or more Events of Default hereunder: !' (1) (a) if'so directed in writing by the Insurer~ the Trust~e shall~ ~,.~, • , by notice in writing sent to the County, declare the principal of 11 unpaid 1998 Financing Payments and the interest accrued thereon to be i mediately due and payable, whereupon such principal and interest shall become and be immediately due and payable, and the Trustee shall promptl thereafter give notice of such acceleration to the Owners of all Outstanding 998 Certificates of such acceleration in the manner (but not subject to the 'me limitations) provided for in case of notice of prepayment of the Certificat s; provided that no such notice to such~e Owners need be given as a condi ~on precedent to any such acceleration; and ~ ;(b) the Trustee may (in its discretion), and shall (if s directed by the Owners of not less than 50% in aggregate principal amount f the Certificates then Outstanding), by notice in writing sent to the Co ty, declare the principal of all unpaid Financing Payments evidenced b any Additional Certificates and the interest accrued thereon to be imm diately due and payable, whereupon such principal and interest shall ecome and be immediately due and payable, and the Trustee shall prompt y thereafter give notice of such acceleration to the Owners of all such Outsta ding Additional Certificates of such acceleration in the manner (but not s ject to the time limitations) provided for in case of notice of prepayment o the Certificates; provided that no such notice to such#~e Owners need be giv n as a condition precedent to any such acceleration; ~i (3) if any Certificates secured by a Credit Facility are accelerated a~ provided above, the Trustee shall: (a) if the Credit Facility provides for payment of all amount~ owing under the related Certificates upon such acceleration: , (i) promptly fix a date for payment of such Certific tes from moneys drawn or paid under the Credit Facility securing such Certi cates, which date shall be as soon as practicable and in any event prior to the xpiration date of such Credit Facility; ~'~ FINANCING AND TRUST AGREEMENT YAGE 37